Andrew

Want to have your cake and eat it too? Join me on my financial journey in saving while still enjoying life.

[Paula Pant @AffordAnything]

Beware of people who speak with total authority over subjects they know almost nothing about.

(Applies to bosses, contractors, clients, even family members, etc).

It's fine to know nothing about a topic -- If you have an attitude of curiosity.

It's dangerous to know nothing about a topic but hold your uninformed opinions as facts.

And it's extra dangerous if that person occupies some type of position of authority -- because their confidence has consequences.

It turns into rules and guidelines that are completely out of whack.

Learn to recognize these people.

[Andrew @LiveRichCheaply]

@realEstateTrent Probably not the case in your co-op but what’s a senior citizen on a fixed income supposed to do with the increased equity? Cash-out refi?

[Andrew @LiveRichCheaply]

@realEstateTrent @ChrisKi02048388 How about capital? Most don’t have that much to invest in commercial real estate

[Andrew @LiveRichCheaply]

@realEstateTrent Not sure most single family home investors have the capital to invest in commercial RE

[Andrew @LiveRichCheaply]

@realEstateTrent I’m ok with kids not finishing their plate if they are actually full but I’m not cool with food waste. Save the leftovers :)

[Andrew @LiveRichCheaply]

@MiniRetireMatt @cashflowpete Apparently they call this WifeFI in the FIRE community

[Andrew @LiveRichCheaply]

@StockStreamer25 @MiniRetireMatt I’m not a fan of Costco/BJs etc. How do you fit that much stuff in an NYC apartment? Plus I feel like I get a similar amount of savings shopping at Lidl/Aldi and Target (their generic brands)

[Andrew @LiveRichCheaply]

@TheMattViera I would say $250k for a family of 4 but in the outer boroughs

[Andrew @LiveRichCheaply]

@TheMattViera @tyruspradier I feel most middle class folks in NYC who are “homeowners” live in co-ops. It’s not bad…don’t have to deal with some hassles of homeownership but sometimes it would be nice to have more space (or no neighbors downstairs complaining your kid is walking too loudly)

[Andrew @LiveRichCheaply]

@TheMattViera I’ve been able to do that with hotel points but airfare has been tough. I think it’s because we travel during school breaks and there are always blackout dates or flights with crazy layovers when I’ve tried.

[Andrew @LiveRichCheaply]

@DividendDaddy1 @TheMattViera It would have to be that because you can’t save and invest your way to a million dollars that quickly…

[Andrew @LiveRichCheaply]

@ycinnewyork @GovKathyHochul What about a retirement system more akin to the Feds? Pension is not as lucrative but there is matching for deferred compensation plans (there is no matching in the NYS plan).

[Andrew @LiveRichCheaply]

@AcdntlyRetired @ContrarianSaver How do you think it’ll change as they get older? I don’t think I’ll be retired until my kids are off to college. Had the day off today…love picking up my kids from school and chatting while walking home.

[Andrew @LiveRichCheaply]

@BoomerDivvies @TheMattViera Agreed. Definitely doable but at age 36…must be other factors

[Andrew @LiveRichCheaply]

@TheMattViera @WealthyRedefine I don’t think I’d go bungy jumping or skydiving but would consider this.

[Andrew @LiveRichCheaply]

@ExamineBaseball That’s true…plenty of Americans have represented other countries. I think some are mad because it happens to be China which is a US rival. And authoritarian w/history of human rights abuse.

[Andrew @LiveRichCheaply]

@realEstateTrent 401k loan

[Andrew @LiveRichCheaply]

@WealthyRedefine @TheMattViera And once they freeze does it hold up everyone else going up?

[Andrew @LiveRichCheaply]

@KennyBurgosNY @3wordpoets @stefanoscalia Can you list the other renovation costs? Genuinely interested in the topic.

[Andrew @LiveRichCheaply]

@LazyManAndMoney @RootofGoodBlog The expense/net worth updates were cool but get repetitive. I’m more interested in life updates and how they relate to finances. The “how to spend free time in ‘retirement’ has been top of mind lately. Really wanted FIRE when kids were young but they’ll be off to college by then