look at once a month
- detailed spreadsheet of household expenses
- big ticket items; travel in december
- calculations, tax liabilities; withholding what do I do with the cash which I dont need to live?
- 3 bucket approach
- 6 month cushion - keep in cash, separate account
- play - discretionary investing; set aside $10k for this thing with sam
- invest -
corporate mindset vs enterpreneur mindset
- corporate - security for the future
- entrepreneur - liquidity available to create things
cost of capital is important - loan % look at the rules; “deferred taxes on savings” what is the cost of getting that money today
Being rich is not a goal in itself. It is just a tool that you might use to solve your real goal. However if you don’t think deeply enough to realise what your real goal is then you might not realise that most goals can be achieved without becoming rich.
Money and Time
I found a recruiter who was reasonably decent (placed a friend of mine). I asked what top-of-band for my YOE in my COL seemed to be, and he said $130k-$140k. I then gave $150k as my requirement to all future companies. Too many were saying yes, so I upped it to $170k, then $190k, then at $200k I only got one bite. (Caveat: of course I asked for numbers from them first - when the recruiter was unwilling, depending on my mood I would say I wasn’t willing to proceed further without a comp range, or I would give out my desired number and see what they said.) I might have missed out on companies willing to offer $200k while earlier in this process, but about half of the recruiters reaching out were positions offering $100k, and I was unwilling to waste that much time in interviews for jobs I didn’t want. In case anyone wants to know how it ended, I told my current company (paying $120k) that I was in final interview rounds for $200k and I wanted to quit to focus on studying for interviews. They offered me $200k to stay and I accepted.