Retire (Really) Early

FIRE (financial independence retire early) profiles are so out-of-touch as to be pretty damn funny. They’re also ridiculously formulaic. The subjects, usually engineers, almost always work in tech, and always make six figures. The formula is “We (it’s almost always a pair of people) saved over half of our income for “x” number of years and retired at age “y”. In the profile I read today, “y” was 35 and 36 years old.

Slackers. I wanna read a FIRE profile where the subjects retire at 23 and 24 years old.

“We made $500,000 right out of college as coders, AirBNB hosts, and professional poker players. We saved 80% of what we earned for the eighteen months that we worked. Our $600,000 nest egg currently generates $30,000/year which is more than enough to support our #vanlife.”

The Ultra Wealthy Are Winning. . . For Now

Based on yesterday’s middling statistics, including how few times the LA Times link was opened, I did a poor job framing Mckenzie’s story. I described it as a long and difficult read hoping you’d rise to the occasion. If I were to suggest all of us go run a hilly and hot marathon, I probably shouldn’t be surprised if none of you show.

I should’ve lead with the importance of regularly mixing in challenging content with all of the light, entertaining stuff that tends to dominate the interwebs.

I can’t shake Mckenzie’s story, especially after reading Evan Osnos’s mind blowing New Yorker piece, “The Haves and The Have-Yachts”. Osnos tells the story of the ultra-rich buying ever larger, more expensive yachts.

If you’re even a little bit like me, and you don’t like the ultra-rich, Osnos’s piece will turn your dislike into a much, much deeper antipathy. If you have high blood pressure, be sure to take your pills first.

I can’t help but read the stories without wondering why in hell the world isn’t overcome by poor people’s revolutions. Osnos makes a few references to the “EatTheRich” movement, but the Wikipedia entry for it describes it as a political slogan associated with class conflict and anti-capitalism.

Sometimes in my hometown of Olympia, WA I see an “Eat the Rich” bumpersticker or graffiti tag. If I was a “Have-Yachter” I’d be thrilled that the primary pushback to the growing wealth gap is some flaccid combo of political slogans and bumperstickers.

This puts me in a tough position in that I don’t condone mindless property damage or really violence of any kind, and yet, I can’t help but wonder if much more radical responses to the growing wealth gap are warranted.

Another dilemma is how do we define “ultra-wealthy”? The tipping point seems to be $30 million, but compared to Mckenzie, I definitely qualify as ultra wealthy.

The legions of ultra wealthy people reading this post are saying to themselves, “We’ll be fine, we’ll just invest even more in security.” Right now they’re right, but whether I live to see it or not, someday poor people’s rage will ignite like the fires in France, Greece, Portugal, and Spain.

Pregnant And Homeless In Los Angeles

“In 2018, three Times reporters slipped through a hole in the fence above the 101 Freeway in Hollywood and into a world of young homeless people. Their objective was to tell the story of women at the cusp of the shifting response to some of the gravest social problems: intergenerational poverty, homelessness, child neglect, mental health, foster care and addiction. A feature-length documentary will be released as a companion to this project. See all of the stories at latimes.com/hollywoodsfinest.”

Mckenzie Trahan’s story. Long and difficult to read/view, but an incredibly illuminating window into homelessness. A story of hardship upon hardship upon hardship.

Sports Extravaganza

Athletic competition is the key to remaining semi-sane these days.

And right now is peak sports. Let me amend that. Peak niche sports. Your Seattle Mariners with their 14th straight victory. Stellar performances at the World Track Championship meet down Interstate 5 in Eugene, Oregon, also known as TrackTown, USA. The thinning of the Jumbo Visma herd in the Tour de France with the podium still to be determined.

And most memorable, Cameron Smith is the ‘Champion Golfer of the Year’. That’s a title I would love to have some day. Maybe next year.

The ‘Etiquette of Poverty’

Joshua Hunt explains how he became a pathological liar.

“. . . By then I was familiar with the kinds of stories poor people must get used to telling. I’d heard my mom swear that the rent check was already in the mail while watching her slip it into an envelope; I knew when she’d passed bad checks because the owner of the corner store taped them to the back of the cash register until the debt was paid; and I’d read the notes outlining invented reasons I couldn’t attend school whenever there were field trips that cost money we didn’t have.

If I ever thought of these as lies, I soon came to see them as part of the etiquette of poverty — a means of getting by for the poor, and also a gift we give to the rich; a practice that lets us avoid talking about the uncomfortable differences between us. Over time it becomes second nature. Observing this etiquette doesn’t feel dishonest because its falsehoods recognize the deeper truth that many of society’s institutions are hostile to the poor. Lying to the landlord keeps a roof over our head. Lying to the social worker keeps our family together. Lying to ourselves allows us to believe it’s all going to be OK, somehow, someday.”

Inside The Peloton

You’re a huge cycling fan. Can’t get enough of the Tour de France. Like most professional cycling fans, you wonder what kind of convos the riders in the peloton have with one another. I’m happy to provide a little flavor flav from today’s stage.

Ron Roglic: On the way to the start today I almost got hit by a guy in a big truck with a bumper sticker that said, “We The People. . . are pissed.”

Dennis Bernal: Biden supporter?

RR: Haha. Shit, don’t take your anger, or more likely victimhood, out on me.

DB: Maybe he’s more into bumper stickers than voting.

RR: Yeah. It’s not my fault he’s deplorable.

A Very Good Sentence

Mark Leibovich on Kevin McCarthy and Lindsey Graham in a funny, insightful, and important essay, “The Most Pathetic Men in America”.

“They had long been among the most supplicant super-careerists ever to play in a city known for the breed, and proved themselves to be essential lapdogs in Trump’s kennel.”