About 5 years ago I read every article on your blog in a week. You said to push yourself to the limits in your 20s because your body can handle the stress and energy required. Gotta say that was the best advice i've ever received. I'm nearly 30 and I cannot imagine having to work 90 hours a week on my biz again and focusing 100% of my energy on only work for the next 10 years... If anyone in their early 20s is reading this - do not fuck up this advice. Work 6/7 days a week until you get where you want financially.
Reminder: Almost all tech startups are fully remote friendly. Especially pre-IPO companies. Get in, negotiate equity upside. Big tech incumbents with large physical presences are loathe to enable full remote.
I'll offer a slightly different perspective that is very specific to my situation, your advice applies in almost 100% of cases.
I'm in Eastern Europe, so costs of living are low (if you earn in EUR/USD you're good), city is < 2MM people so no insane commute. Have to take my kids in the morning to kindergarden which is 20 min walk (great when the winter is not the worst)
I'm going to a coworking space as the setup (table, chairs, etc) is quite good for spending long hours. All food is cooked at home.
Not many people, so easy to concentrate and I socialize a bit (it's way too easy for me to spend months and months with little human contact other than my family, so I keep my skills sharp)
The commute is 45 min if I walk, and I get to go through a beautiful park that's more like a forest, where you can forget you are even in a city. Otherwise, I bike for 15 min.
So I consider myself extremely lucky. Need to clear my head? Just take a walk in the park
Only when the weather is bad I'll take public transport which saves 10 mins, and this year I'll buy a 2nd hand car for the first time (I'm 32). It will reduce my commute to 10-15 mins each way, yearly costs to maintain are super low and it'll become a necessity as we're having a 3rd kid soon.
Otherwise... you really don't need a car if either you have a good WFH set up or no family/small one
That commute is a killer and should be avoided at all costs. I knew what I was getting into when I moved my family out of the city to a small town. That hour commute sucks ass, but I'd rather have that stress than the big city living stress. Otherwise, I agree 100%. Most you can do is podcast, audiobook or music. None of it is productive and you can't getime back.
I'm a long time reader of your old blog and big fan of the Efficiency book. I have avoided subscribing to your Substack because most of the content seems finance/crypto-oriented. New direction, I get it, but I am mostly interested in efficiency (time, money, health). I imagine a sizable percentage of your previous readership are like me. Ergo I hope you have more content like this post in the future.
Quick question on remote work: do you guys have any tips/thoughts on how to mentally get in the work mindset when working from home? Get up, go for a run, get dressed, etc. before sitting down to work? I like having some distance between work and home, but as you've alluded to here, it's a huge waste of time and money to commute to an (private) office.
I’m 25. Can I make it too? I do this because it gives meaning to me. Money just a bonus. I just want to reach my full potential wether he’ll or high water. I wanna be a new person. New sub here btw
No wonder I feel so poor. Between my sports car (which really only gets used at the race track) and my truck I’m paying out 16% of my after tax take home. Time to downsize. Thanks Bull.
My company has an office in Singapore and I am considering the move from the US. I am enticed for a number of reasons, but concerned about the double-tax of being a US citizen.
I've read up on the possibility of foreign earned income exclusions and the like, but any advice/hacks on limiting my exposure? I want to be thorough in my evaluation.
Would also be good to confirm w people I trust (this substack) that have tried it and it worked out for them. Thank you!
One nuance I see: BTB is correct that there is a floor on spending.
However, since there is no ceiling on spending, I think awareness and control of your outflows is a big plus so that bad habits don't simply scale with your income.
What’s the best move to stay remote? Big companies like banks are gonna be adamant about not granting blanket officially remote (nobody would come into their expensive Manhattan offices).
I’m thinking just show up once in awhile but stay quiet and mostly remote, get the job done, and don’t get your salary bumped down for COL adjustment.
Code in PR? Why wouldn’t people simply declare residency for the cal year whenever they have a liquidity event? IE-Sale of a biz/taking a distribution from a def. comp plan etc?
About 5 years ago I read every article on your blog in a week. You said to push yourself to the limits in your 20s because your body can handle the stress and energy required. Gotta say that was the best advice i've ever received. I'm nearly 30 and I cannot imagine having to work 90 hours a week on my biz again and focusing 100% of my energy on only work for the next 10 years... If anyone in their early 20s is reading this - do not fuck up this advice. Work 6/7 days a week until you get where you want financially.
Reminder: Almost all tech startups are fully remote friendly. Especially pre-IPO companies. Get in, negotiate equity upside. Big tech incumbents with large physical presences are loathe to enable full remote.
Some nice reminders here. Intangibles are so important yet often overlooked
Great one.
I'll offer a slightly different perspective that is very specific to my situation, your advice applies in almost 100% of cases.
I'm in Eastern Europe, so costs of living are low (if you earn in EUR/USD you're good), city is < 2MM people so no insane commute. Have to take my kids in the morning to kindergarden which is 20 min walk (great when the winter is not the worst)
I'm going to a coworking space as the setup (table, chairs, etc) is quite good for spending long hours. All food is cooked at home.
Not many people, so easy to concentrate and I socialize a bit (it's way too easy for me to spend months and months with little human contact other than my family, so I keep my skills sharp)
The commute is 45 min if I walk, and I get to go through a beautiful park that's more like a forest, where you can forget you are even in a city. Otherwise, I bike for 15 min.
So I consider myself extremely lucky. Need to clear my head? Just take a walk in the park
Only when the weather is bad I'll take public transport which saves 10 mins, and this year I'll buy a 2nd hand car for the first time (I'm 32). It will reduce my commute to 10-15 mins each way, yearly costs to maintain are super low and it'll become a necessity as we're having a 3rd kid soon.
Otherwise... you really don't need a car if either you have a good WFH set up or no family/small one
That commute is a killer and should be avoided at all costs. I knew what I was getting into when I moved my family out of the city to a small town. That hour commute sucks ass, but I'd rather have that stress than the big city living stress. Otherwise, I agree 100%. Most you can do is podcast, audiobook or music. None of it is productive and you can't getime back.
I paid for a subscription to leave this comment.
I'm a long time reader of your old blog and big fan of the Efficiency book. I have avoided subscribing to your Substack because most of the content seems finance/crypto-oriented. New direction, I get it, but I am mostly interested in efficiency (time, money, health). I imagine a sizable percentage of your previous readership are like me. Ergo I hope you have more content like this post in the future.
Quick question on remote work: do you guys have any tips/thoughts on how to mentally get in the work mindset when working from home? Get up, go for a run, get dressed, etc. before sitting down to work? I like having some distance between work and home, but as you've alluded to here, it's a huge waste of time and money to commute to an (private) office.
I’m 25. Can I make it too? I do this because it gives meaning to me. Money just a bonus. I just want to reach my full potential wether he’ll or high water. I wanna be a new person. New sub here btw
No wonder I feel so poor. Between my sports car (which really only gets used at the race track) and my truck I’m paying out 16% of my after tax take home. Time to downsize. Thanks Bull.
anyone know anything about russian farmland, supposedly very cheap
My company has an office in Singapore and I am considering the move from the US. I am enticed for a number of reasons, but concerned about the double-tax of being a US citizen.
I've read up on the possibility of foreign earned income exclusions and the like, but any advice/hacks on limiting my exposure? I want to be thorough in my evaluation.
Would also be good to confirm w people I trust (this substack) that have tried it and it worked out for them. Thank you!
Mad respect for BTB. Thanks for everything, Bull.
One nuance I see: BTB is correct that there is a floor on spending.
However, since there is no ceiling on spending, I think awareness and control of your outflows is a big plus so that bad habits don't simply scale with your income.
Nice timely post for myself :).
Just got a new role in a unicorn start up in the UK. Fully remote.
Should I move to place with low cost of living or London (where I'll meet powerful and influential people and amazing social life)?
What’s the best move to stay remote? Big companies like banks are gonna be adamant about not granting blanket officially remote (nobody would come into their expensive Manhattan offices).
I’m thinking just show up once in awhile but stay quiet and mostly remote, get the job done, and don’t get your salary bumped down for COL adjustment.
Anyone familiar with the tax
Code in PR? Why wouldn’t people simply declare residency for the cal year whenever they have a liquidity event? IE-Sale of a biz/taking a distribution from a def. comp plan etc?