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About TheYoungRetireeBy33 – Part I

I have put off posts to let people know who I am and what I am about for too long now. It is time for my four part series introducing myself and who I am to the reader.

In this post, I am going to talk through how I was brought up as a young-in from 6-14 years old.

I was born and raised in Plano, TX. At the time, the area was very much developed with not a whole lot going on. I grew up with an older brother and was blessed to have two loving parents in the home. Looking back I now realize how fortunate I was to have a great household to come home to with two very loving parents and an older brother who didn’t pick on me too much.

Developing My Competitive Mindset Early On:

As a kid I was in every sport you could possibly imagine. The only sport I never played was football and that was mainly due to my parents not wanting me to end up in the hospital. I will say, being a tall and skinny kid in a football game in Texas would not end all too well (unless maybe I was the punter haha). I was an extremely competitive kid and who always loved competition. Any time I could get outside and do something competitive I would jump at the opportunity. My dad pushed me a lot in athletics and was always the coach of my teams. Looking back I also didn’t realize how much of a blessing I had to have both of my parents at all of my games and practices. It must have been a significant time commitment to them.

Family Environment I Was Raised In:

My family lived in a modest neighborhood directly across the street from a library. My parents both drove 5-10 year old cars that were definitely not the flashiest (not as cool as my 11 year old VW Jetta though haha). We had a comfortable two story 4 bed, 3 bath home with all old appliances and no fancy interior decorations. We didn’t spend any money on material things. Both of my parents worked full time jobs with my dad being a tools salesman and my mom working in database administration. A typical week day would be school followed by my parents taking my brother and I to one of our sporting events. A typical weekend would be my parents driving both my brother and I around going from one sporting event to another. As you can see competition was instilled into me from an early age.

Parents Views On Money:

From my early childhood (till the age of 14), I don’t remember hearing my parents speaking about money a single time. I didn’t find this odd at all. I simply thought every household didn’t talk about money. No discussions on how much my parents made. No discussions on what type of things they were investing in (if anything). And definitely no discussions about money goals to get out of the rat race and become financially independent. This prevented me from having any base understanding of money and investing. I guess that could be a good or bad thing.

The Beginning Of My Mindset Shift:

I was now 14 years old and had moved to a new city in north Dallas a few years earlier. By this point, I had decided to give up all athletic sports besides tennis. I was ranked top 10 in the state in juniors and I now had a decision to make on what high school I would attend. I was in a unique situation where a new high school was going to open up for my freshman year. From an athletic perspective, I was already being recruited by the old high school’s tennis coach. I had to make a critical decision at this stage of my life. I could go to the new high school where I would be with all my friends but have no idea how good the tennis program would be (which would be risky), or I could go to fundamentally sound school where I knew I would get great coaching. After all my goal was to play Division 1 tennis out of high school. I ultimately decided to take a riskier path, attending the new high school, with the main driver being all my friends being there.

This fundamental decision made me have to grow up extremely quick from an athletic perspective. I went to a brand new high school, and in my first year of playing tennis there, I was the number one player on the team. I was not only young for my grade (14 when most of my friends were well into being 15), I was also an extremely timid and shy kid. I was a scrawny 5′ 10″, 115 lb. 14 year old freshman playing 17-18 year old seniors who were twice my size. It was time for me to make a critical decision in my life. I could be intimidated by the size of my opponent, or I could step up to the challenge and step out of my comfort zone. I decided the later. My freshman year I was first team all district, made the regional tournament and only lost 5 matches all year. I am extremely grateful for not only the decision I made at that time to choose the school I did, but also the decision I made to not be intimidated by my opponent standing across the net.

Looking back, here are the main takeaways I had from the early times of my life:

  • Money: This was never something my parents discussed. I wish my parents would have talked more about money in the household growing up, but I am honestly glad they didn’t. I believe the discussion of money is valuable if and only if you know how to effectively get certain points across to your kids.
  • Mindset: Competition was driven into me from an early age, mainly from athletics. I cannot be more grateful from being as involved with athletics as I was. The main things I took away from athletics were the drive I now have and the work ethic athletics instilled in me.
  • Mission: In life you can’t be afraid of the unknown and taking risks. The decision of going to the new high school was a fundamental decision I made early on in my life I couldn’t be more grateful for. This decision helped to shape my mission of going against the status quo and doing things that may seem difficult at first but are the right decision for the long term goal.
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Childhood Filled with Conflicting Messages: Why the F*** Did I Listen to My Parents Financial Advice

How the hell do I keep getting all these conflicting messages about what is happening in my life, how I should be acting, and why I am crazy for doing the things that I am doing. This has seemed to be the constant message I receive from work colleagues, friends and my family for the past 3 months since I have entered my obsession with the Financial Independence community. I want to be a financial badass! The main point of this blog post is to give anybody who might be reading this a good understanding of the mindset I had ingrained into me from a young age.

About My Childhood and Parents: I was very fortunate growing up the way I did. I was born in Dallas, TX and had a very stable home life with my two amazing parents and my brother who was two years older. Both my brother and I were extremely competitive in the spots we played growing up and most of my childhood I remember my parents taking my brother and I across the state to play in tournaments for various sports. My mom is your classic Jewish mother who is very loving, always looks out for her boys, and very “Jewish” when it comes to spending money. My father on the other hand was raised Christian but doesn’t really care about religion all too much. They both agreed to raise my brother and I Jewish with the one stipulation from my dad being that we would always celebrate the Christian holidays. My parents both had steady jobs making a median income throughout my childhood. Since I graduated college, both of my parent’s careers seem to have taken off, although they don’t really like to talk about it. My mom is currently working as a Senior DBA for Oracle and my dad is a Regional Sales Rep for Matco tools. I think they both make over $150k/year now which may be why they have seen some sever life creep.

My Parents Money Mindset: This is interesting to think about now that I have started down the path of Financial Independence at an early age. My parents NEVER discussed money in the household. EVER. Looking back, it seems strange that this topic was never brought up. I don’t know if that was my parents plan or if they just never thought to discuss money. I don’t know if they felt insecure about the living they made and didn’t want to share with my brother and I or if there were any financial struggles they had that they wanted to ensure they kept from my brother and me. I know my brother and I had to have been very expensive kids as we trained at a tennis academy twice a week, we traveled to tennis tournaments once a month where we had to stay in hotels and drive 4-5 hours to get there, and my brother liked to frequent the Emergency Room with broken bones and concussions. Maybe my parents were extremely tight with their budget and lived paycheck to paycheck. It is weird trying to bring up money with them now, but they still don’t seem to want to discuss when I try to begin the conversation. The one thing I do know to be a fact is that my mom stresses every day on whether they have enough saved up in their nest egg for retirement. Every day she and my dad are contemplating retirement, but it seems as if they haven’t pulled the trigger (at 61 and 62 years old) because they don’t know if they have enough money saved. One thing I do know for a fact, this is not what I want to be worried about when I am that age. There are so many other things I want to have completed in my life and the last thing I want to be worried about in 40 years is whether I will have enough money to be retired. Things I don’t agree with at all that I see from my parents in the life they live now:

1. My parents pay $300/month in tv/Netflix subscriptions that only my mom uses really because my dad is always traveling. THE FUCK YOU DO THAT FOR? CUT THAT CORD AND INVEST THAT MONEY INTO ASSETS!

2. Both my parents work jobs that seem to make them extremely stressed because of their fear of not having enough of a nest egg for retirement. FUCK THAT!!! WHY DO SOMETHING YOU DON’T LOVE? WHY ADD THE ADDITIONAL STRESS IN YOUR LIFE AT THAT AGE?

3. My parents don’t seem to acquire any assets and are of the Poor Dad mindset of their home being an asset. They currently don’t have any assets that are producing cashflow for them each month. RICH DAD, POOR DAD…YOUR HOME ISN’T AN ASSET!

4. My parents have seen what I have done with house hacking and renting out the two additional bedrooms in my home to live for free and they still think I am absolutely nuts for doing so. They literally have my aunt and uncle living with them in their basement and my parents aren’t charging them a dime. WHY ARE YOU WASTING ALL THIS INCOME POTENTIAL!?!? I HAVE PEOPLE WHO LIVE WITH ME AT MY HOUSE AND PEOPLE THINK I AM CRAZY, BUT FUCK IT, JOKE IS ON THEM, I AM THE ONE WHO IS LIVING FOR FREE!

5. My parents live lavishly and love to spend money on going out to eat often, drinking alcohol for dinner each night, and they continue to spoil family and friends because of being good hearted people. COOK AT HOME MORE OFTEN AND CHANGE YOUR DIET TO BE HEALTHIER! DON’T CONSUME AS MUCH ALCOHOL.

6. My parents have always told me to just put into my 401(k) what my employer would match because it was free money but there is no reason to put any more than that. Why the hell would I not want to max that sucka out every single year!! Even more free money they are missing out on. WHY HAVE I LISTENED TO THIS FOR 4 YEARS NOW AND MISSED OUT ON AN ADDITIONAL $56K IN MY 401(K) PLAN. IF ONLY I KNEW!!!

7. My parents don’t sign up for a HSA account to get the tax advantages the account has to offer! WHAT ARE YOU THINKING! THIS IS FREE MONEY AND SO SIMPLE TO DO!

8. My dad has this fantasy of camping up in the mountains and without even trying it with my mom and the dogs, he decided to buy a supped up $40k truck as well as a brand spanking new camper. Why the hell would you buy a $40k truck and then proceed to buy what was probably a $10-15k camper. SAY ADIOS TO $60-70K.

I know most people reading this (hopefully at least one person has read to this point 😊) might think that I hate my parents and think they are dumb with finances…well that is partially true. I do think they have made a ton of mistakes financially. It is clear they are not dumb people, they have just not been fortunate enough to know there are hundreds of thousands of posts that describe how to be a financial badass! Why not take all that information in and become a freaking Rockstar who crushes it and can feel comfortable later in life from a financial perspective? The last thing I want to do when I get to be my parents age is working a job I don’t truly love and worrying about if what I have saved up in retirement will last for my lifetime.

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Goals Looking Forward to 2019

I could not have asked for a better end to 2018! Peak performance of my company increased 40% YoY and I was able to lead the charge ensuring the company didn’t have operational challenges preventing us from driving online sales. All in all, it was a wild end to the year and I forgot I haven’t put together a blog post quickly detailing out what my goals are for this year! I posted this on my Instagram a few weeks back but thought I would also supplement it with a blog post!

Believe it or not, this is the first time I have ever written out my goals and had to sit down to think about them in detail. I reflected on how 2018 went and now it is time to drive results for 2019! I have decided to break my goals out this year into three different categories: Financial, Personal/Relationships, and Health/Spiritual. At this moment in my life, these are the things that are important to me and I want to try to push myself to be the best version of myself I can be. Here we go!

Financial Goals for 2019:

  • Max out my 401k at $19,000 by 3/31
  • Max out HAS of $3,000 by 3/31
  • Max out Traditional IRA by 3/31 Having to remove this goal as I no longer qualify to invest money into either a Traditional or ROTH IRA due to my income. I didn’t realize this last year, but after speaking the firm doing my taxes this year, I am happy to take this off the list.
  • Keep both rooms in my home rented out for 90% of the year. One bedroom renting for $1,000/month and the second renting for $900/month.
  • Increase my W2 total compensation to $250,000+
  • Increase savings rate to 80%
  • Optimize taxes through tax loss harvesting, and payroll deductions for HSA
  • Invest $100k in my cousins bar, Whiskey Row, in Denver
  • Purchase a second house hack

Personal/Relationships

  • Spend $100 per month going out with friends with the focus being to create more deep and meaningful relationships
  • Be open and outgoing to others. Seek to make a new connection with at least one person per week.
  • Randomly perform one act of kindness each week and keep a journal of each
  • Document my path to financial independence through blogging and Instagram
  • Grow traffic to theyoungretireeby33.com to 100 unique visitors per week

Health/Spiritual

  • Find a new diet to get on that will help with inflammation of my arthritis
  • Meditate twice per day for at least 10 minutes each.
  • Calm the mind, become less stressed and always kill Automatic Negative Thoughts (ANT’s)
  • Perform a S.A.V.E.R.S. Miracle Morning at least 5 days per week. Silence, Affirmations, Visualization, Exercise, Reading, Scribing
  • Each morning wake up and write 3 things I am grateful for

I am sure this might seem like a task that shouldn’t take long to perform and really think out, but I can tell you from going through this exercise I am not good at getting this down on paper.

Actions: I plan to read this at least twice per week and keep myself in check to see if I can stick to these goals this year! Will be very interesting to see how everything ends up going.

Let me know what you think and as always don’t forget to add me on Instagram @TheYoungRetireeBy33.

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