Financial Independence Help! Can't stop checking my account! |
- Help! Can't stop checking my account!
- Fund to safeguard against the depreciation in dollars?
- Buy a house or rent forever?
- Daily FI discussion thread - January 11, 2018
- TFSA VS RRSP VS Unregistered For FIRE
- Value of enjoying your job
- I've achieved FI and plan to RE within the next couple months. How do I not be a jerk or alienate friends/family?
- The majority is always wrong?
- Are You All Super Rich?
- FI newbie, 35 yo - retirement vs house vs investments - where do I start?
- Pros and Cons of getting married from a fiancial standpoint?
- College Student, Future Military Career
| Help! Can't stop checking my account! Posted: 11 Jan 2018 12:13 PM PST I think I'm becoming obsessed. On the bus on my way to work, first thing I do is check my etf, and stock values, and pre market. Then sometime during lunch break I log in again. Then after market closes I log in again! I've been doing this for 5 years now... Only time I stop checking is when market is red... Does anyone else do this? Also, I habitually multiply my investment by 0.03 to give me hypothetical fire amount. Again I do this constantly... For example, todays market is a solid green all around and I've checked 6 times already [link] [comments]  |
| Fund to safeguard against the depreciation in dollars? Posted: 11 Jan 2018 10:41 AM PST I'm an immigrant working in US and plan to FIRE back in my home country(hopefully within <8 yrs). Looking at the current exchange rate for USD against my country currency makes me a bit worry. Not sure how should I invest to protect in case there's a heavy devaluation in dollars? Currently, I invest my money 50% outside of US. 60% of that goes to VWOB, which is not helpful because it invests in denominated-USD bonds. And 40% of that goes to VEU. Guess this is not a problem for many of us who plan to retire here. For those who plan to retire outside, curious how do you plan to handle this? [link] [comments]  |
| Posted: 10 Jan 2018 07:36 PM PST I'd like to achieve FI by 50 years old. I am now 34, married, one soon-to-be kid. I'm trying to figure out if it ever will make sense to buy a house. My job is never stable (I make good money, but tend to hold jobs 1-2 years then have a few months off in between.) That might change, but also might not - so I need to be realistic (have mental health issues that cause me lose jobs a lot unfortunately.) Some other data:
Will it ever make sense to buy a house? I was running some calculations today, and figured I need about $910k in net worth before I'd be comfortable in owning a $1.3M home (would put 20% down and have half the value of the home in net worth (stocks) in case I need the $ if I were to lose my job. The other option is that we just continue renting and when we grow out of the 1 bedroom, we move to a small 2 br rental house or 2br apartment. We'll lose our rent control but costs should still be less than owning - and if I were to lose my job, we could always downsize fairly quickly. It seems like houses cost so much I can never achieve financial independence if I'm an owner... whereas if I rent, I can easily downsize when kids move out (in 20-21 years) and not have to worry about paying for space we don't need (or move to another state and get more space for less.) But... I still really would like to own a house... put down my roots, have my family feel settled, get to know the neighbors, etc. It would be nice. I grew up in an owned home so it's hard to imagine never owning. Thoughts? [link] [comments]  |
| Daily FI discussion thread - January 11, 2018 Posted: 11 Jan 2018 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]  |
| TFSA VS RRSP VS Unregistered For FIRE Posted: 11 Jan 2018 06:33 AM PST Hi folks, I'd like to first off thank everyone for their comments/feedback thus far in my previous posts - it's added much clarity and optimism! I do have a question I am hoping fellow Canadian investors can help out with. A bit of a background: I had a FIRE awakening in late 2016/early 2017 and saved approximately $60k in calendar year 2017. I currently have approximately $45k in my RRSP and $55k (added $5500 immediately in Jan 1st this year) in my TFSA (TFSA is maxed out). I am aiming for about $55-60k of savings this year. I am invested in ETFs across the board (admittedly, cannabis fever has set in and I have a few grand in speculative stocks for fun). Current Age: 32 Salary: CAD $120k Yearly Savings Goal: CAD $50k Take Home Pay: Approximately CAD $6500/month My question is, given one of the main goals is to retire early - should I continue pouring investments into TFSA and RRSP only? The logical flaw here is that, assuming I FIRE at age 40, I can only dip into my TFSA account, as RRSP withdrawals before retirement age would incur tax penalties (please correct me if I'm wrong in this assumption). Please note, even by age 40, through capital gains, additional contributions and DRIP, my TFSA account will be no where near the critical mass needed to enact the 4% SWR let alone live off dividends.
Thanks everyone, I'd love to hear what current Canadian FIRE-ees are doing with their withdrawals and what current aspiring Canadian FIRE-ees are contributing their savings towards. Cheers! [link] [comments]  |
| Posted: 11 Jan 2018 03:42 PM PST I'm 32 and have been working for the same company for the last 10 years. I make about 20% less than the market average for my field. Most people wouldn't have stuck around this long but I can honestly say I enjoy my job and the people I work with. The benefits are probably better than average. 5 weeks of pto (6 weeks in 5 more years), 9% 401k match, cheap insurance. I have a hard time leaving but I feel like I'm selling myself short. Anyone else stick around too long because they enjoyed their job? And the reason I'm posting here is because I ultimately want to be financially independent but I don't want to be miserable in the process. [link] [comments]  |
| Posted: 10 Jan 2018 06:54 PM PST Long story short, I invested in a couple cryptocurrencies several years ago and have turned under $15k into $3.5 million worth and have finally started pulling some cash out and diversifying to mitigate risk. I have two personal questions.
[link] [comments]  |
| Posted: 11 Jan 2018 03:03 PM PST I just stumbled upon this Ted video and thought it was rather fitting for the /r/financialindependence community. It's not about FI itself, but rather about breaking outside of norms, which we are all very much partaking in by pursuing FIRE. https://www.youtube.com/watch?v=VNGFep6rncY Watch the video before reading the comments below, it's not too long (11 minutes) and maybe you'll find it enlightening or reassuring, or maybe not. I'm going to comment below with my thoughts on the talk and I'd love to hear how other people react to the video too. I think it could inspire a good conversation that gets us thinking a little differently than the norm here. [link] [comments]  |
| Posted: 11 Jan 2018 02:41 PM PST I make 30k a year, I've got maybe 10k in the bank... Not sure this is the place for me [link] [comments]  |
| FI newbie, 35 yo - retirement vs house vs investments - where do I start? Posted: 10 Jan 2018 05:01 PM PST I just discovered this sub and I'm very interested in FI. Unfortunately I don't work in a lucrative industry. I'm 35. I spent my 20s traveling, volunteering, and in graduate school - basically having a good time, gaining life experience, and valuable (but unpaid) experience for my field. Here's some basic stats, I'm curious to how to start on the path of FI, and if it's even possible. No debt, approx $70k annual income, $42K in roth ira, $20k savings. I rent (all housing costs 23% of gross income), and own my car - no payments (car is worth $9k, so it's good for the next 10 years), save 50% of my net income. I'm wondering if I should defer some funds from my paycheck to the company 401k (no match). Thus far I have not contributed because I was building my emergency fund, and would like to start saving for down payment on a home. I live in a very expensive area where a home will likely run me $500k+. I'm single but would like to get married, so if I remain single my max budget for home would be $250k. To those who are also saving for a down payment for a house - how do you balance this with competing demands like retirement funding? [link] [comments]  |
| Pros and Cons of getting married from a fiancial standpoint? Posted: 11 Jan 2018 04:47 AM PST I'll be brief. I just want to know what the community thinks about the financial gains and losses of getting married, almost as from a business decision. Any help would be greatly appreciated. [link] [comments]  |
| College Student, Future Military Career Posted: 10 Jan 2018 05:32 PM PST Before starting I just want to apologize for a lack of standard information as I am sort of a special case right now. Life Situation: I'm 19, and sophomore studying Mechanical Engineering at an esteemed university in the US. Alongside this I am in Naval ROTC and will commission upon graduating. I still file with my parents since I believe I am their dependent. FIRE Progress: Definitely too early to know any dates since I'm just getting started! Gross Salary/Wages: I make $300 a month during the school year and received and extra $375 a semester all through NROTC. Over the summer I am paid during NROTC required training but I do not know how much in advance. This summer I intend to work for $14 an hour at a local car shop with time and a half overtime. I also mow a lawn for side money which brings in $30 a week. Yearly Savings Amounts: I have $45xx in savings. $41xx is in the Vanguard 2060 retirement fund. I have it there so it at least makes me some money instead of sitting in my bank account. The year 2060 doesn't mean anything specific to me, just the fund that matched my desired level of growth vs stability at this time. Since I have almost no expenditures at college, nearly my entire monthly stipend goes into that account. Other Ordinary Income: I'm still at the age where I get birthday and Christmas money. Last semester I made 15% by trading in the stock market. It was a little too time consuming and risky to continue for now. Rental Income, Actual Expenses, and Depreciation: None. Current expenses: I have zero needs in terms of spending since my college is entirely paid for by the Navy. Assets: None. Liabilities: None. Specific Question(s): Like I said, when I graduate I will be an officer in the Navy. I anticipate selecting submarines which comes with a bonus upon graduation. After completing training, it is one of the highest paying jobs in the Navy. My question is where do I go from here? Since I have such a specific case and am starting to look at this so early on in my life, I haven't seen much information targeted at my age group. Also, USAA offers a Career Starter loan. I don't know much about it but I have heard that most ROTC students take it out for the sake of more money, whether to spend it on a car or invest it. It seems a little silly to me to invest loaned money. When I get in the Navy I anticipate maxing any form of retirement accounts possible. With the new Thrift Savings Plan, I'm not sure how that will work. I know the Navy will match me up to a certain percentage. Should I also look to put money away elsewhere in a different Vanguard retirement type fund/401k/…? [link] [comments]  |
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