Should I Buy A Fixer-Upper Property?

Home Remodeling Gut Job

Breathe in fresh sawdust air

“Forget money. Remodeling is the number one cause for divorce.” – Anonymous

Before my current house, I had never bought a fixer-upper before. The most I did in the past was build a new bathroom out of a closet, put up a wall to create an en-suite bathroom, and remodel my ground floor by adding a shower and blowing out a center divider so one could fit a bed. Oh, I also changed all of my windows, which wasn’t so bad.

After my remodeling activities, I swore never to do another remodel project again because it kinda feels like hell on earth. But that was almost 10 years ago.

After getting ferociously outbid on a particular piece of property ($1.2 million ask, went for $1.8 million), I decided to look away from nicely done properties. There seems to be a massive embedded premium for new or recently remodeled properties that I wasn’t willing to pay. All I really wanted was a view, gosh darnit it. The property itself almost seemed secondary!

Invest With Investors You Respect And Trust: I’m Following USAA’s Lead

US Military - Fallen Soldier MemorialWhen the Japanese bombed Pearl Harbor, my grandfather was there to serve as a Captain in the Army. During the Vietnam War, my father also served in the Army and was sent overseas to be a stockade prison guard in nearby Thailand. Then there’s me. A man who did not carry the family tradition of serving one’s country. I felt unworthy.

I wanted to join the US Foreign Service to help America in a more diplomatic way, but I felt too stupid to pass the Foreign Service Exam, so I did not try. One of the duties my father had while serving at the State Department in Washington D.C. was to be an oral exam examiner. He shared with me stories of the difficulties in making it through.

I’ve discussed a lot about having money guilt in the past, and I think part of my guilt comes from not being able to serve our country as my father and grandfather have done. A part of me is driven to make up for my lack of contribution by helping people with their personal finances. Money is a means to a better life, and I hope to make some sort of difference.

It’s an atrocity that there are homeless veterans in America. The government needs to do more to make sure that every single veteran finds a job when they come home. The private sector has to take the lead as well. If there are veterans out there who would like to share their story or become a writer for Financial Samurai, shoot me an e-mail.

The Best Place To Rent A Vacation Property In Lake Tahoe – The Resort At Squaw Creek

Lake Tahoe Summer At The Resort At Squaw CreekWinter is coming and I’ve just renewed my season pass at Squaw Valley, Lake Tahoe! One of my favorite activities in the world is writing for a couple hours in front of a fireplace in the early morning, hitting the slopes for four hours in the middle of the day, and then relaxing in an outdoor hot tub with a couple cold beers. One for me, one for you.

Lake Tahoe, California is one of my favorite places in America. The other two favorites are San Francisco and anywhere in Hawaii. Lake Tahoe is situated roughly 205 miles away from San Francisco and it’s a place I’ve been going to for amazing skiing/snowboarding during the winter and golfing, hiking, swimming, biking, and fishing during the summer since 2001.

Most people think of Lake Tahoe as a winter destination given the 1960 Winter Olympics were hosted in Squaw Valley USA. Squaw is one of the largest mountains with a 2,850 foot vertical; a top elevation of 9,050; 4,000 acres of skiable area and 270 trails after joining forces with Alpine Meadows in 2012. The mountain is so big that even during peak holiday weekends, there’s hardly ever a wait for the lifts when they are all open. Squaw is great for beginners and advanced skiers alike.

But if you’re a summer lover, summer in Lake Tahoe is even more beautiful! Every year I spend 4-5 weeks up at my place during the summer and fall for a writing retreat. I love to hike and there are scenic trails all around. 

The Financial Samurai Podcast Episode 3: Men Of McLean

Financial Samurai PodcastDear Readers and Listeners,

My favorite podcasts are National Public Radio style monologues. I really enjoy the methodical and soothing voice of NPR speakers. I plan to emulate their style over time.

I also want to continue to practice storytelling. We all grew up listening to stories as kids, and I don’t think there’s a more effective way to connect and teach than through storytelling. I could tell you to do XYZ and explain ABC in my podcasts, but I think such instructions might be better suited towards writing.

Today’s podcast explores why men have a difficult time expressing their feelings, and how men constantly feel the pressure to conform to society’s expectations. Such constriction not only negatively affects men, but also negatively affects women as well.

It’s funny how nobody every talks about men’s issues, even though we make up half the world’s population. Why is this?

WHY MEN SUFFER IN SILENCE OUTLINE

* What does it mean to be a man?

* Why it’s important to allow men to be themselves to bring more happiness to women.

* A story of why my high school let NOW live, but MOM die.

* The solution to gender income inequality, and my attempt to figure out why some women don’t want men to gain equality to help the family.

* A discussion on the problems that result from men not being able to open up.

* Three tips for people who are unable to express their feelings and be themselves.

If you are a woman who believes this podcast does not pertain to you, think again. One of the best ways to understand men is to listen to the problems and issues they go through. We’re all in this together!

Related Posts:

How To Convince Your Spouse To Work Longer So You Can Retire Earlier

Stay At Home Men Of The World, UNITE!

My Fear Of Becoming A Father

Listeners, what are your thoughts on why men suffer in silence? Do you believe if men were allowed to share their feelings more freely, there would be more equality in this world? 

Are You A Real Millionaire? $3 Million Is The New $1 Million

True Millionaire. SF Giants Win The World Series

The Day After The SF Giants Win Our Third World Series

Although being a millionaire sounds nice, it’s not that impressive anymore thanks to inflation. If you retired today at 65 with $1 million and no Social Security, you’d only be able to spend $40,000 – $45,000 a year for 25 years until you’d run out of money. $40,000 – $45,000 a year is not bad for an individual or a couple with no debt. But it’s not like you’re popping Crystal in the hot tub on your luxury yacht in the South of France – not that that’s what everybody wants to do of course.

The first thing we should do is pray the government doesn’t raise the minimum Social Security age to something absurd like 85 years old or simply cut payouts drastically. If our prayers aren’t answered, let’s hope our 401ks and IRAs don’t get taxed out the wazoo come distribution time. If our hopes for a well-managed government are crushed, then surely we’ll have developed multiple income streams by retirement so no one event can get us down!

When I was working at McDonald’s for $4.25 an hour, I filled up my 1987 Toyota Corolla FX16 babe-mobile for $1 a gallon. I distinctly remember not being excited about making $4.25 an hour, but I had to do it because my parents didn’t give me much spending money. Besides, I wanted to do more than treat the ladies to free apple pies and Mcflurries.

The minimum wage in America is now close to $10 an hour ($10.75 here in San Francisco), and gas is around $3.5 a gallon depending on where and what type you get. I think it’s interesting that the minimum wage used to be 4X the amount of one gallon of gas. Now the gap has fallen to only ~3X as the cost of goods have surged faster than wage inflation.

I’m not sure whether this post will motivate people to accumulate more wealth or demoralize people who don’t think amassing a $1 million net worth is remotely possibility. I constantly need motivation to try harder because I tend to kick back too much. Only until we fully understand reality can we come up with a realistic financial plan.