FIRE business plan competition

It all comes down to controlling spending. Biggest expense is taxes. Figure how to minimize taxes. Primary home and rentals will help. No vacations no lattes, don’t eat out. Figure a budget, put savings into RE. Iras won’t help till your 59. I scrimped and saved and was FIRED by 33. As long as your W2 income is eaten alive by taxes it is hard to get ahead.

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How do you buy a 300k house in cash every 2 years with a 350k income? You need to pay tax and live

you don’t have to buy cash.

Yeah. Show me your business plan

How much tax does someone making 350k pay?

A ton.

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150? 200? Need something more quantifiable than “a ton”. :smile:

make a mill, move to suburbs of mexico. #profit.

About $140k…
https://www.taxformcalculator.com/tax/350000.html#California-state-tax-calculation

Moving to Seattle makes this a bit happier.

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probably around 36-40% (27-30% fed and 9-10% state) assuming typical deductions like mortgage, state tax, etc

$140k
https://www.taxformcalculator.com/tax/350000.html#California-state-tax-calculation

So step 1 of going FIRE is to move to Seattle? How much pay cut does the SWE have to take?

I don’t now anyone from SV that’s taken a pay cut. Everyone got equal or higher pay whether they changed companies or stayed with their current. That’s across MSFT, FB, AMZN, GOOG, UBER, and even some smaller places.

from my personal experience with a close friend. It was same pay when the person moved to Seattle. and it was a small out of cycle raise (relocation fixup) when they moved back to the bay area.

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going to seattle is literally a pay boost, lower taxes, lower cost of living.

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What about the costs for anti depressants and vacations to sunny places. Everyone I see in Mexico and Hawaii is from Canada and Washington. They can’t stand being there in the winter

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No antidepressants. what are you talking about?

The weather in Seattle is depressing. Cold gray and rainy all winter. Like London but without all the culture

I have probably seen as many people move to Seattle as come here from Seattle.