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re: Your Biggest Success?
Posted on 7/29/24 at 11:10 am to I Love Bama
Posted on 7/29/24 at 11:10 am to I Love Bama
quote:
Huntsville
Great town but it seems as though the popularity and hype has slowed down a bit. Looks like Nashville just a couple of hours north is the most popular city in the US.
0
Posted on 7/29/24 at 11:36 am to nolaks
This post was edited on 7/29/24 at 12:10 pm
Posted on 7/29/24 at 12:59 pm to Sir Saint
My company was bought in late February of 2020.
By the time the plan closed, i got the checks etc. it was late March 2020.
Rolled over all of my 401K into self directed IRA at Fidelity.
Plowed it all into 4 series of a Mortgage REIT's Preferred shares i knew well - there was an arb that existed that the return profile of a return to par was greater than the return profile of the common stock going back to book value. Bought within a day or two what ended up being the ultimate bottom.
Within a year i was up ~6x including catching up on dividends.
Was fairly life changing for two reasons
1) in theory if you write a financial plan I don't really have to save for retirement anymore - I'm late 30s (i still do and max out but at some point it might not make sense)
2) I keep that IRA with Chase who i bank with, the assets in that alone give me private client status, so I get all kinds of perks, saved me a quarter point on my Mortgage etc.
My IRA was on the light side at the time as I preferred having fun in my 20s as opposed to saving for retirement - no regrets there. But this trade caught me up and then some.
It really was stupid out how easy it was to make money in the market in 2020-2021. I'm not sure we will ever see that again.
By the time the plan closed, i got the checks etc. it was late March 2020.
Rolled over all of my 401K into self directed IRA at Fidelity.
Plowed it all into 4 series of a Mortgage REIT's Preferred shares i knew well - there was an arb that existed that the return profile of a return to par was greater than the return profile of the common stock going back to book value. Bought within a day or two what ended up being the ultimate bottom.
Within a year i was up ~6x including catching up on dividends.
Was fairly life changing for two reasons
1) in theory if you write a financial plan I don't really have to save for retirement anymore - I'm late 30s (i still do and max out but at some point it might not make sense)
2) I keep that IRA with Chase who i bank with, the assets in that alone give me private client status, so I get all kinds of perks, saved me a quarter point on my Mortgage etc.
My IRA was on the light side at the time as I preferred having fun in my 20s as opposed to saving for retirement - no regrets there. But this trade caught me up and then some.
It really was stupid out how easy it was to make money in the market in 2020-2021. I'm not sure we will ever see that again.
Posted on 7/29/24 at 1:21 pm to Sir Saint
nice edit.... ;-)
Posted on 7/29/24 at 1:28 pm to jlsufan
lol yea accidentally left the share count in the first pic. Gotta keep em guessing around here. Could be 10 shares, could be 10,000
Posted on 7/29/24 at 1:38 pm to Sir Saint
no matter what it is...you always wish you'd have bought more
This post was edited on 7/29/24 at 1:38 pm
Posted on 7/29/24 at 2:38 pm to nolaks
Bought a condo for rental in 2010 for around $69k and another a year later for $75k. About 5 years ago sold the second for $140k and paid off the first….thats now worth about $180k.
I think sometimes we should’ve held on to both but the CF margin was razor thin and it’s nice having the first paid for free and clear.
Not a high roller but this makes me happy.
I think sometimes we should’ve held on to both but the CF margin was razor thin and it’s nice having the first paid for free and clear.
Not a high roller but this makes me happy.
This post was edited on 7/29/24 at 2:40 pm
Posted on 7/29/24 at 2:44 pm to BLM
quote:
Started a biz in 2016, started 2nd biz in 2017 (had to fire a partner and dissolve), started 3rd biz in 2018, started 4th biz in 2022 and started 5th biz in 2023.
I’d be curious to know what types of businesses. I’ve see friends do this and range from crash and burn to wildly successful. It seems like the winners know how to staff up and expand while the others try too long to do everything themselves without hiring help.
Posted on 7/29/24 at 3:14 pm to Sir Saint
This is insane. lol
Posted on 7/29/24 at 3:30 pm to nolaks
My biggest success wasn't meant as an investment per se.
Early in 2000, I got interested in collecting old silver coins. Mostly collected silver dollars and Franklin half dollars.
I wasn't buying graded coins, just the nicer looking ones that I could find in coin shops. Over a few years my stack of silver grew to be around 500 ounces. Most of it was bought when silver was bouncing between $3.50 - $4.50 per ounce.
After the 2008 financial crisis, prices began to climb dramatically, and I sold all it in 2011 for a little over $30.00 per ounce.
Early in 2000, I got interested in collecting old silver coins. Mostly collected silver dollars and Franklin half dollars.
I wasn't buying graded coins, just the nicer looking ones that I could find in coin shops. Over a few years my stack of silver grew to be around 500 ounces. Most of it was bought when silver was bouncing between $3.50 - $4.50 per ounce.
After the 2008 financial crisis, prices began to climb dramatically, and I sold all it in 2011 for a little over $30.00 per ounce.
Posted on 7/29/24 at 4:13 pm to Sir Saint
i want to be like this 
Posted on 7/30/24 at 6:20 pm to nolaks
getting an 11% return over the last 20 years in my roths and 401k.
If i can get at least 8% over my final 10 years of working, i'll be in excellent shape.
If i can get at least 8% over my final 10 years of working, i'll be in excellent shape.
Posted on 7/30/24 at 7:21 pm to nolaks
Buying over 40 acres west of Austin in the hills less than an hour from downtown (hilly w/ views, tank, barn, 4 mostly dry creek features lined with over 75 red oaks). It is Wildlife exempt (like ag exempt) with a holding cost of $300/year in property taxes. I bought it as a hedge against inflation back in 2007. Co-workers--especially the younger ones --said, "what inflation?". I told them I lived through it as a kid of the 70's and as a retiree inflation is your worst enemy. I took a package from Big Oil in April 2020 and retired, just before inflation took off. Paid it off in 2019. It is worth at least 4X more than when I bought it.
Moved back to Texas after 13 years on the left coast in 2001 with kids ages 5 and 2. Got into the last year of the Texas Tomorrow Fund Prepaid Tuition option. For $17,500 per kid I got each kid 128 credit hours of tuition at UT - Austin. State of Texas bore of the risk of tuition increases.
Been mostly horrible as a stock picker. Had a neighbor in Seattle (venture capitalist) tell me it was over and that Amazon.com was going to be more than a book retailer and dominate retail. This was the late 90's. I didn't invest in Amazon and just loaded up on crappy 401K funds instead.
Youngest walked on to UT baseball team and actually pitched in relief at the Box as a Freshman with mixed results. Small world.
Moved back to Texas after 13 years on the left coast in 2001 with kids ages 5 and 2. Got into the last year of the Texas Tomorrow Fund Prepaid Tuition option. For $17,500 per kid I got each kid 128 credit hours of tuition at UT - Austin. State of Texas bore of the risk of tuition increases.
Been mostly horrible as a stock picker. Had a neighbor in Seattle (venture capitalist) tell me it was over and that Amazon.com was going to be more than a book retailer and dominate retail. This was the late 90's. I didn't invest in Amazon and just loaded up on crappy 401K funds instead.
Youngest walked on to UT baseball team and actually pitched in relief at the Box as a Freshman with mixed results. Small world.
Posted on 7/30/24 at 8:19 pm to nolaks
TC and lifestyle working remotely as principal IC for massive silicon valley tech companies.
Posted on 7/31/24 at 8:53 am to Big_Sur
Working at a FAANG company for over a decade and having 50% of my comp being stock
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