Financial Independence Inspired by a similar post: chart of my past 12 months' FIRE journey |
- Inspired by a similar post: chart of my past 12 months' FIRE journey
- How much money do you save/invest per month?
- The value of almost-FIRE (and a thank you to this subreddit)
- FI/RE article today in Marketwatch
- Daily FI discussion thread - December 02, 2017
- Actual numbers/tables for Senate tax bill?
- Feeling unexpectedly sorry for the super-rich
- Anyone Here Early Retiring Due To Bitcoin/Crypto?
- Needing to balance portfolio, suggestions on approach?
- Question about Roth IRAs
- How do you guys quantify investing mental and physical health?
- 10-year plan - feasible at all?
- If the ACA mandate gets repealed, what is the downside of waiting until you are sick to buy health insurance?
- Heads Up on the Tax Plan - Charitable Deductions/Donor Advised Funds
- 20y/o - Sophomore Civil Engineering Undergrad - Far From Fire - Requesting Your Insight
- Can I FIRE yet? Pls check my math.
- For Australians or those on the ASX: What vanguard ETFs do you own, why those ones and at what ratios?
- When calculating assets
- What would you do with $1,000,000?
- 21, about to finish my degree, and I feel I've done it...
| Inspired by a similar post: chart of my past 12 months' FIRE journey Posted: 02 Dec 2017 09:15 AM PST The image: https://i.imgur.com/kPjwhqA.png This isn't displaying net worth, only my income and expenses for the past 12 months. Some notes:
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| How much money do you save/invest per month? Posted: 02 Dec 2017 10:12 AM PST I'm curious about what the average person in this sub puts away (saving or investing) every month. Would be nice to know how one's doing based on the average towards financial independence? [link] [comments]  |
| The value of almost-FIRE (and a thank you to this subreddit) Posted: 02 Dec 2017 01:04 PM PST Last month, my company went through a big reorganization and I found myself without a job. I'm not at my FIRE number yet, just a little more than halfway there. I had put so much time focusing on my FIRE number, that it didn't occur to me for a week that being at half-FIRE meant I could withdraw half-year of living expenses likely without reducing my savings. And even if I wanted/needed to extend that time without working to a full year, the principal-cost of that time would only be half of what it would have been. I'm now planning to take 4 months to clear my head and then begin to look for a job then. Something I never could have considered if I hadn't started down this path. So I just wanted to say thank you to this sub for your stories and information and encouragement over the years. And also to everyone who are still years away from their number... appreciate the security and peace of mind that being on the way to FIRE brings. The spot between FU money and F Everyone money is a very fortunate one indeed. [link] [comments]  |
| FI/RE article today in Marketwatch Posted: 02 Dec 2017 07:42 AM PST Searched before posting and couldn't find this on here yet. Sorry if it's a repost [link] [comments]  |
| Daily FI discussion thread - December 02, 2017 Posted: 02 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]  |
| Actual numbers/tables for Senate tax bill? Posted: 02 Dec 2017 01:57 PM PST I see lots of articles speaking in general terms about what percent of people will get tax cuts and for how long, but obviously for us spreadsheet-types having the actual formulas would be best. I've seen tax tables for 2018 but none for 2022 when tax cuts are supposed to expire. Does anyone have these numbers? [link] [comments]  |
| Feeling unexpectedly sorry for the super-rich Posted: 02 Dec 2017 12:30 PM PST So tonight I'm watching a Youtube documentary called "Untold Wealth - The Rise of The Super Rich," and I suddenly realise that what I feel so far is, essentially, not envy, but pity. (at least for the 'Super Rich' who've volunteered to be on the show, they may not be typical.) For instance, there's one bloke who owns a big yacht and keeps it, I think, in Miami, hiking up thousands of dollars in mooring fees, but seldom using it (why not just hire a private gulet now and again?!)... but that's OK, because he's a multi-millionaire, so therefore he can... and then it shows him working flat out to do these billion dollar deals just to sustain this incredibly inefficient lifestyle. And while I watch this, I'm thinking, if you can iron bedlinen, make decent coffee and bake good bread, then probably at least half your day is just as good as his. If not better. [link] [comments]  |
| Anyone Here Early Retiring Due To Bitcoin/Crypto? Posted: 01 Dec 2017 05:35 PM PST Just curious if it's a common thing right now. I know most people that invested in Bitcoin are from the 80's/90's generation of people and that's the common demographic age of reddit users. Thanks! [link] [comments]  |
| Needing to balance portfolio, suggestions on approach? Posted: 02 Dec 2017 12:05 PM PST My investment portfolio is worth a total of $2M. I have absolutely made a mistake in the last 12-18 months as I felt the market was high and have held most of my savings in cash during that time. I can't undo my mistake, but I am trying to avoid making another. As a result, I am finding that I am now 50% stocks, 25% bonds, 25% cash as a mix. I am about 2 years from FIRE (currently 42, with a 2.5M target) and I would like to get to more of a 70/25/5 split by that time. How would you suggest I approach doing that? I have about 400K I need to move into stocks to reach this split and was thinking about 40K per month over the next ten months. Would appreciate any advice on my proposed split and how to get there. [link] [comments]  |
| Posted: 02 Dec 2017 11:50 AM PST Hello fellow FIs!! I am 36 years old and have 225K in a traditional IRA which I plan to convert to a Roth. I don't think I'll ever exit the 25% tax bracket (especially with the coming bracket changes), but I figure it's better to take the hit and pay tax on the 225K over a three or four year period right now than pay it slowly on a much larger amount when I retire. Tax rates are usually the focus when people discuss Traditional vs Roth retirement accounts, but they never seem to talk about tax rates relative to growth and pure dollar amounts. Am I missing something, e.g. beating taxes completely by passing the account down to children or something related to outliving the money? Thanks all! [link] [comments]  |
| How do you guys quantify investing mental and physical health? Posted: 02 Dec 2017 10:34 AM PST This is an area I struggle with. After a full year of trying to figure it out, I'm still stuck. For example:
My instinct is to skimp on everything. The money that I can invest right now is real and easy to quantify - it's $xxx.xx and is projected to grow by y% over the next z years. 30 therapy sessions? It will cost $x,xxx but how do I figure out whether that price tag is worth it? How do you guys approach this? [link] [comments]  |
| 10-year plan - feasible at all? Posted: 02 Dec 2017 12:25 PM PST I started working in WA at a company when I was out of high school for minimum wage, and worked my way up. I just got bumped (at 25) from 50 to 75k, and will get to 100k (promotion) by 2019 if I complete a certain project (which I'm pretty certain I can). Anyway, I currently have a budget that I keep to decently well, live in an $850/mo apartment, and my only debt is a car loan that is $400/mo. There's about 16k outstanding on the loan at 2.9%, and I plan on driving the car into the dirt many years from now. After my budget, currently I have about $500/mo in 'spending money' (all bills/groceries are in the budget). Anyway, I'm thinking that theoretically (with an extra $25k/year gross) I could pay off my car by the end of next year, then (especially if I get the 100k/yr salary bump), save for several years (3-4?) and have a pretty big down-payment for a house (the houses I want in this area are around 120-200k depending on area) and get a 15-year mortgage (my credit score hovers around 800), potentially paying it off sooner than that. On the other hand, house prices have been going up 5-6% a year, and my rent has been going up about the same about, and I only have like two months of pay in savings (less than that now that it's been bumped to 75). My ideal scenario is to get to a point in maybe 10 years where I have no outstanding debt, and only need to pay basically property taxes, utilities, insurance, and for food/essentials, and would be relatively secure even if I had to work minimum wage or on disability for some reason. At that point, I can start funneling a lot of my income into my retirement fund (I've been saving at least 5% for my duration of employment into a 401k/roth ira and have a 100% match up to 4%). Am I being unrealistic or missing something important? [link] [comments]  |
| Posted: 02 Dec 2017 11:55 AM PST I thought Obamacare introduced the law that insurance companies cannot take your pre-existing conditions into account when determining how much to charge you for insurance. And to prevent people from abusing this and just waiting until they get sick to buy insurance was the mandate that charged people extra tax if they had no health insurance. The Senate's tax bill removed the mandate, so can people now just wait until they are sick until buying health insurance? I'm not trying to be partisan and I am genuinely curious. This is especially important to Financial Independence because this subreddit is overwhelmingly American and insurance is perhaps the number one highest priority topic after saving enough money. Thanks! [link] [comments]  |
| Heads Up on the Tax Plan - Charitable Deductions/Donor Advised Funds Posted: 02 Dec 2017 01:19 PM PST Many folks have mentioned on the daily threads that FI should not preclude charitable giving. I know some here make good use of Donor Advised Funds. By raising the standard deduction, the current plan is going to remove one of the incentives for charitable donations. For people who do give, they will now be getting less bang for the buck without the deduction, so they will likely give less. For those who have Donor Advised Funds, I would encourage you to think ahead and double or triple up on your contributions so you get maximum deductions this year while you still can. If you do not have a Donor Advised Fund, it is not too late to start one TODAY. The DAF is an excellent device that allows you to get a double tax benefit for donations of appreciated stock - deduction from your taxable income, and no capital gains on the stock. If you get your deductible contributions in by the end of the year you can still get your double tax benefit. If anyone is out of ideas for Christmas presents, ask for donations to your Donor Advised Fund or give to others'! I believe Schwab Charitable has one of the lower limits at $5K. Vanguard and Fidelity are also established providers. Who knows when we will get our itemized deductions back? If you are thinking long term and wish to include charity in your FI expenses, make your contributions now, get the most for your money for the causes you wish to support! Who else is using a DAF and contributing aggressively before it's too late? I would be happy to answer any questions about DAF's and welcome comments from others who have positive DAF experiences to share. [link] [comments]  |
| 20y/o - Sophomore Civil Engineering Undergrad - Far From Fire - Requesting Your Insight Posted: 02 Dec 2017 03:38 PM PST Hey all, I'm currently a 20 year old, and far from FIRE. I've done a lot since I started on this path and want to see what I'm missing or could do smarter. I'll try to keep it short.
When I started college, I promised myself that I would graduate debt free and never take out a student loan. I've paid for the last 3 semesters out of pocket and have enough to break even for next semester. If I get the new internship, I'll be breaking even when paying for school every semester. What am I missing/could be doing to get to FI quicker as I'd prefer not to just break even after paying for school and basic bills? [link] [comments]  |
| Can I FIRE yet? Pls check my math. Posted: 02 Dec 2017 10:38 AM PST Non-IT, non-engineer Male, 44, spending 25k a year, 545k in taxable savings (mutual funds and govt bonds). Expect 29k (in future dollars) in pension a year in 2029. According to firecalc, I can do it already. What say you? [link] [comments]  |
| Posted: 01 Dec 2017 04:16 PM PST FI newbie here, I currently hold a few single stock shares but want to get into ETFs particularly vanguard as that seems to be most popular. I'm a little overwhelmed with information and not sure what ones to go with. I'm looking for high returns, high diversity (24F, no debt (only $25,000 HECS), full time job (60K), $30,000 savings). Probably going to start with 90/10 stocks/bonds. Also I currently work through Nabtrade because that who I bank with but that has a $15 brokerage fee and I want to be buying more at least once a month so I was wondering what Australian broker is better suited to FIRE investors. [link] [comments]  |
| Posted: 02 Dec 2017 02:06 PM PST Do you include the net worth of your house? Or do not include this as it is a place to live and does not generate income. [link] [comments]  |
| What would you do with $1,000,000? Posted: 02 Dec 2017 12:40 PM PST Theoretical; You are a very low maintenance person, only requiring $3,000/month to fulfill your needs and desires. (Happiest you've ever been was when you cleared $1650/month). You want to create a passive-"ish" income of $3,000-$5,000/month. You are a skilled tradesman, rarely needing help for "home/car things". You have an engineering degree that you worked through while working in trades (although, never worked as an engineer). Now, you stumble into ~$1M dollars, would you invest in real estate or the stock market? Being a bit of a quick study, and good with numbers you can clearly see that the stock market has a favorable return on investment but a much higher risk profile. Real estate seems less profitable but much more stable (the home is tangible and will rise and fall in value and rent relative to the economy). Assuming you own the property and are not leveraged by a bank. You're not looking to get rich, just looking to love every minute of life. You will likely always do some sort of work but don't want the pay check to be the reward (you want to be altruistic with your time). What would you do? [link] [comments]  |
| 21, about to finish my degree, and I feel I've done it... Posted: 02 Dec 2017 11:30 AM PST Throaway for obvious reasons, so I am 21, living in southern Europe with my parents. State pays for education, so I am about to finish my degree in Business with 0 debt. Currently, If I cashed out my assets would be worth 1.25 Million $ or about 1.05 M€. All thanks to, as many people recently, Crypto. The thing is I feel I have done it, I have been working since I was 15 for this purpose, not to be tied a 9-5 job. I want freedom and do whatever I want. Cars are my passion, and racing its not really cheap... I never liked my degree, but hey its nearly free and gives me a paper to hang in the wall as my parents say, I like pursuing different types of projects, some cost me money, others produce it... This is, I feel I have been really lucky, and I still can't believe I have as much as I have. I have seen all the bubles and burst of BTC since 2013, so I am used to the ups and downs. But the recent situation, its just unbelivable. I am posting here because I am getting quite obsessed, estresed and anxious about the matter. What to do (cash out?), I am in a position where, with correct management of my assets, could be free of working for the rest of my life. And I don't know what to do... Any advice from young FI'ers as well as more experienced ones? Thanks [link] [comments]  |
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