Financial Independence Best way to protect cash assets...cancer |
- Best way to protect cash assets...cancer
- Given my unique and highly unusual circumstances, how can I FIRE in a decade?
- Daily FI discussion thread - December 09, 2017
- My family's financial advisor is investing my money; are they doing an OK job?
- How did 2017 market affect your progress toward FIRE?
- Blank slate at age 37, willing to move anywhere with a goal of financial independence
- Any dentists that have reach FIRE or are on the way?
- Pay off second mortgage or start investment fund
- Fastest way to a 1 million dollar net worth?
- Passionate about fire �� and would like to be productive with this energy
| Best way to protect cash assets...cancer Posted: 09 Dec 2017 05:47 AM PST I just sold some property that has appreciated considerably and have a small lump sum available. I was well on my way to FIRE. I have another property that is appreciating nicely as well. Here is the bad news. i am a cancer survivor and my latest checkup the tumor markers came back slightly elevated. Now this may just be nothing, but could be everything. I don't think this is fatal but it could be severely disabling and not allow me to work. It has got me thinking about how to protect this money to make sure I have access to it. [link] [comments]  |
| Given my unique and highly unusual circumstances, how can I FIRE in a decade? Posted: 09 Dec 2017 10:52 AM PST I have a BS, MS and PhD in Mathematics from a top university in my old country. I have published in fairly good journals, taught MS and PhD students, and was almost tenured. Before I applied for tenure – at the same university where I got my PhD - we had to leave. My parents were assassinated, our house burned down and all assets seized. My family had to escape to Belgium - where the Belgian government hurriedly helped us get a new identity but not new academic credentials - and from Belgium we moved to Canada. I am in the US now. I cannot document any of my academic credentials and nor do I want to be affiliated with my old name and life for the safety of my family. Obviously I have skills in mathematics, given my terminal degree. But it looks like I will have to start fresh. It is almost 2018 now and I'd like to FIRE in 2028. What would be my best path to FIREing in a decade? I have posted this elsewhere but was hoping to get more feedback by posting here too. [link] [comments]  |
| Daily FI discussion thread - December 09, 2017 Posted: 09 Dec 2017 03:08 AM PST Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. [link] [comments]  |
| My family's financial advisor is investing my money; are they doing an OK job? Posted: 09 Dec 2017 02:24 PM PST My parents have a financial advisor and they're currently managing my money. I've recently started getting into FI and reading MMM and I'm wondering if they're doing an alright job. Once I learn more I think I'd eventually like to manage all my money myself via a simple few-fund portfolio. The cost for the FA is currently free since my money isn't significant compared to my parent's savings and they're happy to pay the fee. But regardless I'd prefer to do things myself. Here's some screenshots of the overview of my two Schwab accounts: https://imgur.com/a/MrSGP . The smaller one is my Roth IRA and the larger one is my main account. Most of the money in the main account has been contributed just in the last few years, the Roth I haven't been able to touch due to my higher income. My main concern is that everyone's saying the market has been blowing up, but my returns for my main account are pretty lame overall (7% over multiple years total). The guideline I gave the FA is to have about 70% equities. I don't really understand everything I'm looking at and after reading stuff like MMM this all feels over-complicated and it makes me want to just throw all my money in VTSMX. I'd very much appreciate insight from others who understand this better. Thanks! [link] [comments]  |
| How did 2017 market affect your progress toward FIRE? Posted: 08 Dec 2017 11:23 PM PST 2017 has obviously been a strong year for most of us working toward FIRE. I am evaluating my portfolio performance for the year and am curious about the returns others have seen. As a long-term investor, I'm most interested in those who have stuck with an allocation model pretty consistently throughout the year (i.e. not a lot of speculation) For context, it would be helpful if you also describe your allocation Of course, I can't ask others to share if I don't. Mine: 16.7% return YTD. Portfolio is comprised of: 75% domestic and foreign stocks, 12% domestic and foreign bonds, 7% REITs, 2% Gold, 2% Cash, 2% Other (commodities, energy, etc.) [link] [comments]  |
| Blank slate at age 37, willing to move anywhere with a goal of financial independence Posted: 08 Dec 2017 05:24 PM PST My current situation looks like this- I've just turned 37 and am currently living in South Korea working as an ESL teacher. Leaving in February 2018 and moving back to the US. I'll be living with my parents in Oklahoma until I make my next move. My question is about just this, my next move. My goal is financial independence. I don't have any debts to pay off. I have a useless degree in Sociology, I've done a few years work in various kinds of social work, a few years in ESL and a few years personal training so I don't exactly have a "career path" to follow. I want to spend the next several years living as frugally as possible and maximizing my savings. I'm not particular about where I live (I'm interested in the Midwest like Minneapolis or Wisconsin) or what sort of work I do, but I would prefer to avoid retail or truck driving. Other than that I'm open to most ideas. So, consider me somewhat of a blank slate. I don't want to return to school for a masters degree but would consider learning a trade. Although I am looking for possible suggestions about how to structure my life for the next few years, I am posting it here because financial independence is my goal. I'd like to buy some land and build a tiny house on it in the next 5 years. At the moment I'm strongly considering buying a van and living in it to save money on rent and allow me to travel, just unsure as to where I would go and what sort of work to pursue. If anyone has any kind of work/location/education related ideas that can help me get to my goal please send them my way! If you were in my situation and financial independence was your goal, what moves would you make to get you there? [link] [comments]  |
| Any dentists that have reach FIRE or are on the way? Posted: 08 Dec 2017 06:02 PM PST I am curious to know if there any dentists on this sub that have achieved FIRE or that are well on their way. I read an interesting article the other day that stated dentistry as THE most expensive profession due to high tuition rates (average undergraduate and graduate debt of $300k) and the cost of opening up ones own private practice. How did you achieve FIRE, at what age, and what tips do you have for dental students who are interested in achieving FIRE? Disclaimer: not a dentist but I am in the healthcare sector [link] [comments]  |
| Pay off second mortgage or start investment fund Posted: 09 Dec 2017 08:46 AM PST Wanted to get some advice. We currently max out our 401ks and make too much for a traditional roth, but haven't started doing a back door because we are weighing our options between tying that money up until 60 (I plan on retiring at 46 and doing part time independent contractor work) or just doing VTSAX and having that money relatively available. We are in our late 20s so there is plenty of time to watch the funds grow. At 4% withdrawal, we'd like to maintain a retirement income of 200k so that's 5 million in investment accounts between the both of us (401k + other investing). This means getting started earlier is better. We were looking into either using our bonus money to finally start our vanguard account (or backdoor roth) or pay down the second mortgage. The mortgage has 84k left on it at a 5.75% interest rate. Obviously markets right now are great but there's no telling what happens in the short term (5 years) with the tax plan coming out. At current payment levels, the second mortgage will be paid off within the next 6 years. What would you do? Take the 5.75% return or start the investment account for the long term 7%? If we used bonus money for the mortgage, it could get paid off in just under 3 years. I would be 31, just starting the investment account, instead of 28 today. The wife plans on working (she enjoys it) even when I'm retired so we wouldn't only have 15 years to grow the investment account (if I retire at 46), but we would have to have some changes in terms of amount able to be invested and it could push the retirement timeline out. [link] [comments]  |
| Fastest way to a 1 million dollar net worth? Posted: 08 Dec 2017 10:50 PM PST Hey everyone, Completely new to FIRE and would like some of your suggestions in regards to my current situation. My goal is to be able to make about 40k a year without needing to work. I am thinking a 1 million dollar nw would allow me to do so. I am 26 making 120k (90k base, 30k bonus) in total comp. I just started in investing. Opened a roth 401k which I will be maxing every year. I put 18k in a high yields savings account (6 month emergency fund). I put my remaining 10k in a brokerage account (all in VTSAX). I bought a 300k house with 60k down that I am renting out. The rent covers the mortgage. After rent, bills, living expenses, and retirement I have about 1000 a month to invest. Should I just put this into my brokerage account vanguard? Or should I try to pay off my mortgage? If I stop 401k and put all my savings into my mortgage itll be paid off in 6 years. Not sure whats the fastest way to get to my goal. [link] [comments]  |
| Passionate about fire �� and would like to be productive with this energy Posted: 08 Dec 2017 05:44 PM PST Hi All, Apologies for the incoming wall of text. I've only recently found this community (in the last few months). I've been somehow following this path without 100% knowing it for the majority of my working life so far, saving a fairly substantial portion of my salary with the intention of retiring early. I thought my path to do this was through investing smartly or starting up my own business. Thanks to this community I've realised that I'm able to achieve my goal through my current situation. So in the last few months I've been even more frugal and my saving rate has gone up even more. My situation, I'm 27, earning a decent salary in Australia with decent career prospects from a $ perspective but I'm just not passionate about work. I want to learn things outside of work and spend time surfing, snowboarding and traveling and generally being active that I just can't achieve working 9-5. My current plan is save as much as I can until the age of 40. I save around the 60% figure currently with a decent portfolio already. I know I can probably retire earlier than my goal currently but I'd like to have a significant safety net in case things go south. One thing that is a little bit differential to the common plan is half of my portfolio is comprised of individual stocks. The majority of these have been bought under the value investing philosophy and is actually a massive passion of mine. Something I'd like to do when I'm 🔥 is actively manage a portfolio. They've also obtained significant returns compared to the other half of my portfolio that is comprised of etfs and listed investment companies. Ive become so focused on the goal of being able to fire that I want to learn all I can to work towards this. Question is how can I channel all this passionate energy into working towards the goal(to 🔥)? I'm worried that with the the intention of speeding up the process with the right intention I might do something that might actually push me further back.. I check all the fire subs daily, I read a ton of the books people commonly recommend, including the age old investment books from graham and dodd etc. Simply speaking I can't help but feel I want to do more.. I know the simple answer is hold the course and be patient that I'm doing the right thing. but what are people's strategies to do this? Or are there ways to actually utilise this energy for good? Thanks for reading and any input, it's appreciated :) [link] [comments]  |
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