Financial Independence Thread

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RXDOC1986 said:
You must be single. As a family man, our only form of entertainment was and continues to be, eating out. First, it was the establishments with a playground, then we evolved.

I remember a time, before kids, my wife and I, checked our bank balance, it was $18, we withdrew the money and went straight to Sizzler or was it Western Sizzlin. That was just enough for two meals and tip. True story, it was 1985-86.
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LoL no I have little ones which is why I only eat out like once a year. I prefer casual places like the Sizzler versus fancy expensive restaurants.
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mentos said:
dropping hundreds or thousands on eating out, stuffing their faces all day while on vacation and gaining 10 pounds by the time they get back home. I like to eat out every now and then, but not 3 times a day everyday.
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Oh god that sounds like a good time.

But 3x/day is excessive, I’ll usually have a light breakfast at the hotel then nosh the rest of the day, or in reverse.
 
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I am bit amazed and honestly shocked that these many people travel for food lol.

I mean I always knew that people want to try out different restaurants during the trip, but never thought that it would be one of the primary motivations for so many.

Anyways, for me personally when I am traveling, I want to experience things that I can’t get back home. Living in one of the top 10 metros, food isn’t one of them. I can only think of one occasion where we specifically went to eat something particular during our trip: one local pizza place was highly recommended by one technician.

Very interesting discussion regardless.
 
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mentos said:
Guess I'm in the minority but I'm not crazy about food. I see my family and friends dropping hundreds or thousands on eating out, stuffing their faces all day while on vacation and gaining 10 pounds by the time they get back home. I like to eat out every now and then, but not 3 times a day everyday.
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So just to clarify: when you’re on vacation/traveling, do you?

1.) grocery shop and cook your own meals?
2.) dine out at local restaurants and experience the food and culture?
3.) dine out at cheaper/generic restaurants (ex: fast food, chains)?

I rarely eat out when I’m “home”. But when I’m traveling, my behavior is totally different.
 
Chrish said:
I am bit amazed and honestly shocked that these many people travel for food lol.
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I guess I would say it's more that I like traveling to experience different cultures. Food happens to be a huge part of that.
 
Genericrph2012 said:
You seriously eat out once a year? That’s it?
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Ya. Ever bring a baby or toddler to a restaurant? It's not a good time. If we want to go without kids, we have to hire a babysitter.
 
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Z-Qualizer said:
So just to clarify: when you’re on vacation/traveling, do you?

1.) grocery shop and cook your own meals?
2.) dine out at local restaurants and experience the food and culture?
3.) dine out at cheaper/generic restaurants (ex: fast food, chains)?

I rarely eat out when I’m “home”. But when I’m traveling, my behavior is totally different.
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If we're staying at a hotel, usually eat the free breakfast there. If we're at an Airbnb then we cook. Usually eat out for dinner but by the third or fourth night I start to feel unhealthy. I went to Italy and I enjoyed cheap pizza or pasta for each meal.
 
RXDOC1986 said:
You must be a youngster.
Hey, it was sort of like Golden Corral, but not as elegant! The cheapest steak/buffet you could find.
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My father's best friend owned the local sizzler. We didn't eat for free, but we ate there a lot anyway. Steak, baked potato, and some weird toast was well under $5.
 
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mentos said:
Ya. Ever bring a baby or toddler to a restaurant? It's not a good time. If we want to go without kids, we have to hire a babysitter.
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Yes and yes, and not a good time. You live your life, and you make it work! Raised 3 kids, now they are 31, 27, and 15. The first two are boys, if it wasn't McDonalds or Burger King, they would let you know they weren't happy.
We love eating out, maybe that's why I weigh 350 lbs, even after gastric bypass!
 
Off topic but I never understood the concept of Airbnb.. The idea of staying into someone’s home even as a paying guest feels weird to me.

Hotels only for me.
 
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Chrish said:
Off topic but I never understood the concept of Airbnb.. The idea of staying into someone’s home even as a paying guest feels weird to me.

Hotels only for me.
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If you're on a trip with a big group, it makes sense to rent a big house vs being isolated in separate hotel rooms.
 
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Chrish said:
Living in one of the top 10 metros, food isn’t one of them.
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I live near San Francisco and am in Los Angeles frequently, and I still travel for food and music festivals/concerts despite having an abundance of both (every major act will have shows in LA, usually).

Food is culture, and probably the most authentic expression of culture out there.
 
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Genericrph2012 said:
Does your wife not work? Do you have any enjoyment in life? Out friends bring kids, it’s no big deal
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Huh? Of course I enjoy life. I'm not a foodie. I'd rather eat at In N Out than a steakhouse.
 
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Yeah I have eaten at dozens of Mexican restaurants including high-end ones but still nothing beats Chipotle or Moes tbh..
 
Chrish said:
I don’t travel to eat food. Got plenty of options where I am at for that.

My whole purpose of traveling is sight-seeing. Unless a food place is truly famous for something, it is never my priority.
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I have friends like that, I went on a trip with them once and never again. They booked the hotel. They picked some crappy basic hotel and we were pretty much eating fast food the whole time. I let them do the itinerary. They woke me up at 7AM and we didn't get back to the hotel till 11PM. Entire day on our feet. I was so tired. I was like, wtf I don't go on vacation to get exhausted.

When I travel, I'm looking to stay at a 5 star hotel and eating out at Michelin star restaurants (I'll drag my toddlers along to these places also) and not waking up till 9-10AM, and being back at the hotel by 7PM, using taxis as much as possible, avoiding walking as much as possible.
 
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Sparda29 said:
I have friends like that, I went on a trip with them once and never again. They booked the hotel. They picked some crappy basic hotel and we were pretty much eating fast food the whole time. I let them do the itinerary. They woke me up at 7AM and we didn't get back to the hotel till 11PM. Entire day on our feet. I was so tired. I was like, wtf I don't go on vacation to get exhausted.

When I travel, I'm looking to stay at a 5 star hotel and eating out at Michelin star restaurants (I'll drag my toddlers along to these places also) and not waking up till 9-10AM, and being back at the hotel by 7PM, using taxis as much as possible, avoiding walking as much as possible.
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I'd meet them halfway here. I prefer to pack the itinerary and stay at a decent but not fancy hotel. I generally walk as much as possible because I'm probably skipping the gym and don't want to feel too bad about eating and drinking as much as I do. I have no idea how anyone sleeps till 9 or 10, especially with kids.
 
Sparda29 said:
I have friends like that, I went on a trip with them once and never again. They booked the hotel. They picked some crappy basic hotel and we were pretty much eating fast food the whole time. I let them do the itinerary. They woke me up at 7AM and we didn't get back to the hotel till 11PM. Entire day on our feet. I was so tired. I was like, wtf I don't go on vacation to get exhausted.

When I travel, I'm looking to stay at a 5 star hotel and eating out at Michelin star restaurants (I'll drag my toddlers along to these places also) and not waking up till 9-10AM, and being back at the hotel by 7PM, using taxis as much as possible, avoiding walking as much as possible.
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I fit the description fairly well although my travel would end around 7 pm.

Never cared for the luxurious hotels.. I read reviews carefully and as long as it provides me with clean/ comfortable room, parking, location that is close to attractions and decent breakfast, I am good.. Why would I stay in a villa when I am only going there to sleep? We have stayed in five star hotels before and it didn’t add any extra value for me. You even have to pay extra for the breakfast and in one case internet (wtf)!!! I mean what’s even the point? You get more bang for the buck at upper-mid scale hotels.
 
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Splenda88 said:
Anyone planning to move overseas when they are financially independent?
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Where would you like to go? It’s not like you can just pack up and leave to any place desirable without citizenship or some sort of permit.
 
Sparda29 said:
I have friends like that, I went on a trip with them once and never again. They booked the hotel. They picked some crappy basic hotel and we were pretty much eating fast food the whole time. I let them do the itinerary. They woke me up at 7AM and we didn't get back to the hotel till 11PM. Entire day on our feet. I was so tired. I was like, wtf I don't go on vacation to get exhausted.

When I travel, I'm looking to stay at a 5 star hotel and eating out at Michelin star restaurants (I'll drag my toddlers along to these places also) and not waking up till 9-10AM, and being back at the hotel by 7PM, using taxis as much as possible, avoiding walking as much as possible.
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Yeah that sounds exhausting and not fun at all. I don't splurge on hotels though. IHG hotels with free points is good enough, all we need is a pool.
 
Chrish said:
Where would you like to go? It’s not like you can just pack up and leave to any place desirable without citizenship or some sort of permit.
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Probably Spain. But will also keep a small condo in the US so I could also spend time in the US.

I guess I am dreaming since my net worth would have to be > 3.5 mil to be able to do that.
 
Sparda29 said:
I have friends like that, I went on a trip with them once and never again. They booked the hotel. They picked some crappy basic hotel and we were pretty much eating fast food the whole time. I let them do the itinerary. They woke me up at 7AM and we didn't get back to the hotel till 11PM. Entire day on our feet. I was so tired. I was like, wtf I don't go on vacation to get exhausted.

When I travel, I'm looking to stay at a 5 star hotel and eating out at Michelin star restaurants (I'll drag my toddlers along to these places also) and not waking up till 9-10AM, and being back at the hotel by 7PM, using taxis as much as possible, avoiding walking as much as possible.
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I don't eat in Michelin star restaurants when I travel. I actually like to eat at the small mom-and-pop places. However, for hotel stay, it has to be nice, preferably 4+ stars.
 
Splenda88 said:
Probably Spain. But will also keep a small condo in the US so I could also spend time in the US.

I guess I am dreaming since my net worth would have to be > 3.5 mil to be able to do that.
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Even if you get to $3.5 mil, can you just move to Spain or any other place for that matter? Wouldn’t you need some sort of permit to stay long-term?
 
Chrish said:
Even if you get to $3.5 mil, can you just move to Spain or any other place for that matter? Wouldn’t you need some sort of permit to stay long-term?
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Money can solve ALMOST everything, my friend.

A lot millionaires are retiring overseas (Portugal, Mexico, Spain, Malaysia, The Philippines, Thailand, South/Central America etc...). You see that all over Youtube.

Most countries usually let you stay for 3-6 months. You can always come back as long as you get out of the country w/in that 6 months so you don't violate immigration laws.

 
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Chrish said:
Look in the mirror and tell me that chipotle burrito bowl isn’t 10/10 dish ??

I dare you!
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I find Chipotle to be bland. I always have to put sauce on it. I prefer Qdoba.

Of course authentic Mexican is best. The $5 carne asada burritos and $3 street tacos. I've never had "high end" Mexican food.
 
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Chrish said:
Even if you get to $3.5 mil, can you just move to Spain or any other place for that matter? Wouldn’t you need some sort of permit to stay long-term?
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I know I will never see $3.5 mil, or for that matter, $2 mil! I don't need to, My retirement strategy, is buying lots of lottery tickets!!!!

I have researched moving overseas for retirement. Since I am an immigrant, moved here from overseas, for a better life, it feels kinda counterintuitive! There are websites and organizations dedicated to wannabe expats. There are lists, visa policies, immigrant requirements, best/cheapest places to live, healthcare, etc. Top of the list is Mexico, then Central America (Costa Rica), South America (Columbia), Spain and Portugal. Most countries make it easy for expats, as long as there is proof of income, or buying real-estate, you are good to go.

A couple of months ago, I visited an old college buddy, now living in Bogota, Columbia. I went to my bank here and got 1 million Columbian Pesos for $210. Felt like a bigshot, the 1 million Columbian Pesos, went a LONG way. Yes, living on US dollars, overseas, you are living well!
A three course meal, with a beer, about $8, in a nice restaurant. You can easily live in Bogota, pop.8 million, with the absolute best climate anywhere in the world, for $1500-2000 a month, all in. This includes a full time maid, and a nice two bedroom apartment, etc. If I could just convince my wife to leave her little babies behind. She is waiting on grand kids, then its game over, for our plans.
 
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Chrish said:
Look in the mirror and tell me that chipotle burrito bowl isn’t 10/10 dish ??

I dare you!
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I have regretted every Chipotle trip I've made. I don't understand how they're so popular.
 
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WorthlessOxygen said:
I have regretted every Chipotle trip I've made. I don't understand how they're so popular.
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May be it has to do with them not putting in enough salsa and guac. I definitely have had some bad experiences but it was always the person who was making them was being stingy with the ingredients. I stopped going to those particular locations.
 
GC and sizzler, gross.

Chipotle is good, but there is a 75% chance of bowel destruction afterward.
 
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Since we only have a few weeks of vacation a year, my wife & I decided that we have to make every moment of our trip count. Our vacation starts at the moment we get to the airport. We fly business or first class on different airlines so that our time at the airport & in the air becomes part of our enjoyable time. Fine food, high end champagne, caviar & a flat bed in the sky will also make our flights feel much shorter lol. Sometimes we book a longer route so that we can maximize our time in the air hehe. We love food so we eat anything from street food, mom & pop to Michelin starred places wherever we go. We usually don't need fancy hotel since we spend most of the time exploring around. However, if hotel is a part of the local experience (such as staying at a traditional Japanese ryokan or at a cave hotel in Turkey) then yes, we will book a fancy one.
 
Chrish said:
Where would you like to go? It’s not like you can just pack up and leave to any place desirable without citizenship or some sort of permit.
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Portugal has been an expat hotspot for a while, and if someone has ancestral ties to a third world country, American money can put you in the top 1% and it can be very comfortable life.

Some of those countries either a) don’t care if you overstay a visa (just pay a fine when you leave) or b) just require you to step out of the country once every 90 days to a year.
 
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RN2RPh said:
Since we only have a few weeks of vacation a year, my wife & I decided that we have to make every moment of our trip count. Our vacation starts at the moment we get to the airport. We fly business or first class on different airlines so that our time at the airport & in the air becomes part of our enjoyable time. Fine food, high end champagne, caviar & a flat bed in the sky will also make our flights feel much shorter lol. Sometimes we book a longer route so that we can maximize our time in the air hehe. We love food so we eat anything from street food, mom & pop to Michelin starred places wherever we go. We usually don't need fancy hotel since we spend most of the time exploring around. However, if hotel is a part of the local experience (such as staying at a traditional Japanese ryokan or at a cave hotel in Turkey) then yes, we will book a fancy one.
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We just got to this point financially, where I stopped counting quarters to save some dollars. We splurged on everything else travel before, but it was a slow transition to better flight and hotel quality.

The first to fall was the connecting flight, then the quest for “cheapest fare” which meant weird flight times was next, and finally class of service.

Rules for travel now:
1) Minimum E+ on United (or whatever the upgraded economy flight is), but if the flight is > 4hrs, upgrade to 1st (Polaris, Mint, etc…)

2) Minimum 1 bedroom suite at hotel if > 2 nights (more than a quick weekend), makes a huge difference in stay. We are Hyatt people, it’s a good system, exception might be staying at a Park Hyatt or something.

3) Always have active Global Entry and Clear. I will say I am hit or miss with Clear lately. You can use Global Entry coming back from Canada over land as well (SENTRI).

4) No more regular Uber or Lyft, black car service only. Mostly for safety, these are commercial drivers with commercial insurance policies.

5) Don’t be afraid to book a hotel where it sometimes makes sense. We booked a Grand Hyatt stay at SFO recently to position for a morning flight, just to avoid a hectic early morning. Concert ends at 11pm? Book a hotel next door instead of driving home. Helps with status, and might even be safer with all the drunk drivers out there.

Speaking of caviar, there’s a caviar bar in Napa I’ve been meaning to pop over and try.
 
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confettiflyer said:
Portugal has been an expat hotspot for a while, and if someone has ancestral ties to a third world country, American money can put you in the top 1% and it can be very comfortable life.

Some of those countries either a) don’t care if you overstay a visa (just pay a fine when you leave) or b) just require you to step out of the country once every 90 days to a year.
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It was also the Bitcoin haven for a long time. They just recently taxed short term gains (under one year) but long term gains are still tax free.

www.bloomberg.com

Crypto Taxes Can’t Stop the Party in Portugal

Welcome to Bloomberg Crypto, our twice-weekly look at Bitcoin, blockchain and more. In today’s edition, Henrique Almeida delivers some taxing news from sunny Portugal:
www.bloomberg.com www.bloomberg.com
 
Genericrph2012 said:
How much are suites vs king room? I honestly don’t really care much for the hotel being a suite

I’ve tried doing the hotel near the event and … the last few times it was like 1k to stay
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Mmm, really just depends. I’ve seen everything from +$50-$100/night to something like +$300-400/night (typical). Grand Hyatt in Kauai is like +$2000/night for the suite (technically cheaper to get two adjoining rooms).

The suite is super handy with kids, one can be napping in the fully separated room (or be fully asleep for the night) while the adults/older kid can be awake doing things. Also, suite usually has a bigger dining area, comes in handy when you’re not eating out. If none of this appeals/applies to you, standard rooms are perfectly fine.

And yikes! Who ya seeing, Taylor Swift?
 
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Genericrph2012 said:
How much are suites vs king room? I honestly don’t really care much for the hotel being a suite

I’ve tried doing the hotel near the event and … the last few times it was like 1k to stay
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I do need to add, we rarely pay the full retail price when upgrading to a suite. I’m still cheap at heart. The last three upgrades have been a) at a greatly reduced work conference rate (it was a Grand Hyatt and we paid like +$200/night effective rate), free upgrade at check-in at a Hyatt Regency due to status, and the most recent was a timeshare product purchased third party years ago so calculating cash price is difficult (but not impossible, maybe I’ll do that later).
 
Are timeshares still a thing? Are those basically an Airbnb that you pay for every year?
 
mentos said:
Are timeshares still a thing? Are those basically an Airbnb that you pay for every year?
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Now there’s an entire industry centered around getting people out of time shares they’re stuck in… I see/hear advertisements for it all the time. It’s sad.
 
Z-Qualizer said:
Now there’s an entire industry centered around getting people out of time shares they’re stuck in… I see/hear advertisements for it all the time. It’s sad.
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Aren't a bunch of those also scams? Now we just need an industry that gets people out of their contracts with shady time share exit companies.
 
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WorthlessOxygen said:
Aren't a bunch of those also scams? Now we just need an industry that gets people out of their contracts with shady time share exit companies.
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I’ve never looked into it, but you’re probably right. It’s a vicious cycle!
 
What if you stop paying for your timeshare? Do they use your house for collateral like a HELOC?
 
owlegrad said:
Timeshare?! I am so sorry :(
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Lol, it was a Disney timeshare I bought off a divorcing couple in Arizona for like $5k in 2017. So far has yielded about 15 nights worth of stays in Hawaii. Resale value is still $5k open market, not selling.

The other Disney timeshare I bought was $15k in 2018 from some older couple that stopped going, currently sells for $35k via third party, but I’m not letting this one go, there are only 52 units inside Disneyland and rooms are $800/night cash.

I don’t buy the stupid timeshares, they definitely exist.

EDIT: dues are like $400/yr for Hawaii and $800 for the second one, in case anyone’s wondering. Second contract yields 7 nights/yr.
 
Z-Qualizer said:
Now there’s an entire industry centered around getting people out of time shares they’re stuck in… I see/hear advertisements for it all the time. It’s sad.
Click to expand...

These are scams, too. Haven’t dug deep, but I’ve heard some chatter about it.
 
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