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The Water Cooler
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Got a lot going on, could use some life advice?
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<blockquote data-quote="cowzrul" data-source="post: 3607739" data-attributes="member: 5353"><p>I might duplicate a few things that have been said. I'm going to drop some opinions here to muddy the water but ultimately your going to have to make the decisions.</p><p></p><p>1) One thing I learned early on was how to compartmentalize. It gave me the ability to go from Pvt to Major in the Marine Corps. I think you need to mentally create a few buckets and not mingle your plans. Career, Marriage, Housing & Mom are all separate. Sure a career/income drives your housing but you can still look at the housing factors independently. </p><p></p><p>2) I have worked two or three jobs up until I open my business. Yes, even in the Corps I worked side jobs. By your own admission you have no income stream. I assume your living off savings or the money you're getting from VA. Either way I would be working when I wasn't in school. Not a popular opinion in the "Great Resignation Era" I know but the extra cash you can set aside will help when you need it.</p><p></p><p>3) Housing market. I'm no expert but I just sold last month and bought a house half the size while we build. We have decided to sit on the sidelines for a bit and keep all our cash (a substantial amount) in our checking account until we decide to make a move. All the research I have done points to lumber prices coming down (lumber futures have dropped by half) and housing market becoming unstable. Just like the car market, the housing market cannot sustain this type of volatility. My guess is 3, 6 or even 12 months from housing will stabilize and it might not be good. Point being if there was ever a good time to get out of a house it was yesterday. I would sell your house as is if you have no doubts you want to sell.</p><p></p><p>4) Marriage and money. I met on a blind date and 6 weeks later got married. No she wasn't pregnant. That was over 35 years ago. Back then we had one Navy Fed checking account and most the time the balance was $5. Currently we have two Navy Fed accounts and are joint on both. She uses one account and I use the other. Trust and transparency are key. We also have other bank accounts but are joint on this as well.</p><p></p><p>5) I didn't touch on career because I have the mind set that grit, drive and discernment are all that is needed to get ahead. Notice I didn't say get rich. </p><p></p><p>6) I saved the hard one for last. Family problems (mom in your case). I was executor for Aunts estate in OK about 4 years ago. Was assigned executor as my moms estate in Texas shortly after. I declined and let my sister handle moms affairs. Why? Oklahoma is a very easy state for probate. Texas wasn't. Of course this is my opinion. Either way I would make an appointment with said lawyer for you and mom. Find out exactly what needs to happen and get timelines. You don't know what you don't know until you hear it yourself.</p></blockquote><p></p>
[QUOTE="cowzrul, post: 3607739, member: 5353"] I might duplicate a few things that have been said. I'm going to drop some opinions here to muddy the water but ultimately your going to have to make the decisions. 1) One thing I learned early on was how to compartmentalize. It gave me the ability to go from Pvt to Major in the Marine Corps. I think you need to mentally create a few buckets and not mingle your plans. Career, Marriage, Housing & Mom are all separate. Sure a career/income drives your housing but you can still look at the housing factors independently. 2) I have worked two or three jobs up until I open my business. Yes, even in the Corps I worked side jobs. By your own admission you have no income stream. I assume your living off savings or the money you're getting from VA. Either way I would be working when I wasn't in school. Not a popular opinion in the "Great Resignation Era" I know but the extra cash you can set aside will help when you need it. 3) Housing market. I'm no expert but I just sold last month and bought a house half the size while we build. We have decided to sit on the sidelines for a bit and keep all our cash (a substantial amount) in our checking account until we decide to make a move. All the research I have done points to lumber prices coming down (lumber futures have dropped by half) and housing market becoming unstable. Just like the car market, the housing market cannot sustain this type of volatility. My guess is 3, 6 or even 12 months from housing will stabilize and it might not be good. Point being if there was ever a good time to get out of a house it was yesterday. I would sell your house as is if you have no doubts you want to sell. 4) Marriage and money. I met on a blind date and 6 weeks later got married. No she wasn't pregnant. That was over 35 years ago. Back then we had one Navy Fed checking account and most the time the balance was $5. Currently we have two Navy Fed accounts and are joint on both. She uses one account and I use the other. Trust and transparency are key. We also have other bank accounts but are joint on this as well. 5) I didn't touch on career because I have the mind set that grit, drive and discernment are all that is needed to get ahead. Notice I didn't say get rich. 6) I saved the hard one for last. Family problems (mom in your case). I was executor for Aunts estate in OK about 4 years ago. Was assigned executor as my moms estate in Texas shortly after. I declined and let my sister handle moms affairs. Why? Oklahoma is a very easy state for probate. Texas wasn't. Of course this is my opinion. Either way I would make an appointment with said lawyer for you and mom. Find out exactly what needs to happen and get timelines. You don't know what you don't know until you hear it yourself. [/QUOTE]
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