6 ms·

Let me add 1) get a prenup before marriage because there's a 50/50 chance you'll lose half in divorce (at least in California.) This is not very romantic so it

Let me add 1) get a prenup before marriage because there's a 50/50 chance you'll lose half in divorce (at least in California.) This is not very romantic so it's not something I ever considered, but it's recommended to wealthy persons by lawyers. 2) don't become an alcoholic or drug addict. If you think you might be developing a problem, own up to it, seek help and go to rehab if necessary. This includes gambling addictions. A cocaine and gambling habit is probably the quickest way to become broke again.

incognition 5y ago
Real tip is don’t have kids. Corollary to your number 1
- VWWHFSfQ 5y ago
  I think it basically just boils down to live for yourself, and don't share anything with anyone.
- mwattsun 5y ago
  I don't agree with this because you want to have kids if you are to have any chance of anyone caring about you when you are old. I guess some might be satisfied with people caring about the money you have when your old, potentially leaving some of it to them, but that's not my cup of tea.
  - stocknoob 5y ago
    It’s nice to bring someone into existence so they can serve you. And if your kid is disabled? Your retirement plan should work regardless of requiring you breed live-in caretakers.
    - detaro 5y ago
      "caring about" != "caretakers"
      - mwattsun 5y ago
        Right, I didn't say caretakers. You can hire those to come in daily. Another nice option money buys is a great luxury senior living home. A good one starts at $3500 a month but typically costs more (while the average cost for a senior living community in Santa Cruz, CA is $5,595) https://www.merrillgardens.com/senior-living/ca/santa-cruz/sunshine-villa-a-merrill-gardens-community https://www.merrillgardens.com/senior-living/ca/santa-cruz/s... https://www.dominicanoaks.com/ https://www.dominicanoaks.com/
        stocknoob 5y ago
odiroot 5y ago
> get a prenup before marriage because there's a 50/50 chance you'll lose half in divorce (at least in California.) Some countries outright ignore them anyway -- last I've heard England and Wales (Scotland still holding them valid).
bradlys 5y ago
Better: Just don’t get legally married and don’t live in a common law state. Prenups aren’t enforceable. Judges can throw them out and ignore them whenever they feel. I don’t plan to ever get married due to these factors. Another option for the drugs thing is to never do drugs or drink alcohol. I haven’t ever done any and I’ve managed to avoid addiction my entire life. I still have fun - I am actually considered the fun and lively person of many friend groups.
- vecinu 5y ago
  I don't disagree with you because I've gone through a divorce that halved my net worth but I don't think "don’t live in a common law state" is decent advice. If you ignore all of California, you miss out on higher compensation and interesting work opportunities. Should you live your life such that you limit your opportunities? I don't think so. I don't think ignoring serious relationships altogether or avoiding children because of the potential financial headache they could cause is a healthy way of thinking about your future, purpose and what you want, just my 2 cents.
  - bradlys 5y ago
    California is not a common law state. I am not purposing avoiding serious relationships either. I’m proposing avoiding the legal contracts that will not do you any good.
    - novok 5y ago
      Also to add, when your income starts getting into tech amounts, it's actually MORE tax efficient to not be married than to be married unless your spouse does not work. Also there is nothing preventing you getting rings, having a wedding and having a marriage relationship.
      - vecinu 5y ago
        Can you expand on this? TurboTax always recommended filing joint for all the years I was married even though my wife earned a lot less than me. My tax rate went up a ton after the divorce.

incognition 5y ago

Real tip is don’t have kids. Corollary to your number 1

VWWHFSfQ 5y ago
I think it basically just boils down to live for yourself, and don't share anything with anyone.
mwattsun 5y ago
I don't agree with this because you want to have kids if you are to have any chance of anyone caring about you when you are old. I guess some might be satisfied with people caring about the money you have when your old, potentially leaving some of it to them, but that's not my cup of tea.
- stocknoob 5y ago
  It’s nice to bring someone into existence so they can serve you. And if your kid is disabled? Your retirement plan should work regardless of requiring you breed live-in caretakers.
  - detaro 5y ago
    "caring about" != "caretakers"
    - mwattsun 5y ago
      Right, I didn't say caretakers. You can hire those to come in daily. Another nice option money buys is a great luxury senior living home. A good one starts at $3500 a month but typically costs more (while the average cost for a senior living community in Santa Cruz, CA is $5,595) https://www.merrillgardens.com/senior-living/ca/santa-cruz/sunshine-villa-a-merrill-gardens-community https://www.merrillgardens.com/senior-living/ca/santa-cruz/s... https://www.dominicanoaks.com/ https://www.dominicanoaks.com/
      - stocknoob 5y ago

odiroot 5y ago

> get a prenup before marriage because there's a 50/50 chance you'll lose half in divorce (at least in California.) Some countries outright ignore them anyway -- last I've heard England and Wales (Scotland still holding them valid).

bradlys 5y ago

Better: Just don’t get legally married and don’t live in a common law state. Prenups aren’t enforceable. Judges can throw them out and ignore them whenever they feel. I don’t plan to ever get married due to these factors. Another option for the drugs thing is to never do drugs or drink alcohol. I haven’t ever done any and I’ve managed to avoid addiction my entire life. I still have fun - I am actually considered the fun and lively person of many friend groups.

vecinu 5y ago
I don't disagree with you because I've gone through a divorce that halved my net worth but I don't think "don’t live in a common law state" is decent advice. If you ignore all of California, you miss out on higher compensation and interesting work opportunities. Should you live your life such that you limit your opportunities? I don't think so. I don't think ignoring serious relationships altogether or avoiding children because of the potential financial headache they could cause is a healthy way of thinking about your future, purpose and what you want, just my 2 cents.
- bradlys 5y ago
  California is not a common law state. I am not purposing avoiding serious relationships either. I’m proposing avoiding the legal contracts that will not do you any good.
  - novok 5y ago
    Also to add, when your income starts getting into tech amounts, it's actually MORE tax efficient to not be married than to be married unless your spouse does not work. Also there is nothing preventing you getting rings, having a wedding and having a marriage relationship.
    - vecinu 5y ago
      Can you expand on this? TurboTax always recommended filing joint for all the years I was married even though my wife earned a lot less than me. My tax rate went up a ton after the divorce.