Reply to I am a DC uberX driver since 2013 and have SEEN IT ALL...so please, AMA

Forum Index » Off-Topic

Reply to "I am a DC uberX driver since 2013 and have SEEN IT ALL...so please, AMA"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]How do you maintain your hustle mentality? The fact that you know what Vanguard etfs/index funds are and have the wherewithal to set up a SEP for yourself means you have 30-40 more IQ points than your usual white collar hustlers in DC. Is getting a house the primary thing driving you? I am surprised you haven't gotten one already. You are late 30s, right? Anyway, you seem super interesting and I've loved reading this thread.

Do you think the DC housing market is overpriced or in a bubble. Do you get the sense that a lot of your clients are overextended financially?
[/quote]

I maintain the hustle because I know first-hand what the other side is like.  Money does not buy happiness, but not ever having any sure does fucking suck.  I know this pace is not sustainable forever, so I'm going to make hay while the sun shines today.  And I've got my investment game down-pat.  Watching my own hard earned money turn off dividends makes one feel very free.    Compound interest is a beautiful thing.

A house and eventual financial independence are what drives me.  A wife fit in there somewhere along the way too.  I could buy a condo in cash today, but I have no desire for a box in a high-rise.  I want a real house with a garage and a yard somewhere inside the Beltway.  My rent is less than a lot of monthly condo HOA fees so I don't see renting currently as "throwing money away".    Also, I really don't plan on ever working for money again after 50-ish, so I need to build that nest egg as high as I can get it.

Compared to the rest of the country, of course DC's housing market is overpriced, but it is what it is.  The fact that the fed is going to always be in DC will keep it stable.  I see it this way...you put your money in today and then you get to pull it all back out in the future at retirement if you leave the area.  Housing is not an investment, it is an expense...it is a structure that keeps you and your stuff dry and warm.  Considering a house an investment is the same as considering a savings account earning 1% interest an investment.   The odds of losing money on buying a house here, living in it 20+ years, and then selling it are practically zero, but you still have to play the game.

And yes, I feel many people here are very, very overextended.  Lots of living paycheck-to-paycheck...kids working at Deloitte/KPMG bragging (?!?) about their $2k/month studio in Clarendon/Dupont.  That's crazy-talk.  I overhear lots of stuff on rides too...folks making $100k+ talking about taking loans out of their 401k, how great a timeshare is, how they love their financial advisor "guy".   TONS of smarts here but then very little common sense to go along with it.

[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics