Financial Independence update: eight months into early retirement |
- update: eight months into early retirement
- Listed my primary residence on airbnb today and got booked for $5000/5 nights just now. Should I get into luxury rental space/Washington DC?
- Lessons learned from studying my 401(k) options
- Daily FI discussion thread - February 01, 2018
- Hitting $500k while expecting a baby!
- Should I even be contributing to a Roth 401(k)? Does a traditional 401(k) make more sense?
- Need advice regarding best FIRE approach to spend 30k, I have 7 options.
- Dollar cost averaging vs. Lump sum investing during high CAPE
- Anyone working a job they really hate to achieve fire?
- Is it worth it to FIRE if you're going to be miserable while you're doing it?
- Tax Exempt Bonds?
- Would anyone who has already achieved financial independence be interested in doing an interview with me?
- Scary responses to maxing out your 401k over at /r/AskAnAmerican
- What if you don't make much money?
- Would you participate in this ESPP?
- Is FIRE or the long-game a better option
- I have the short term FI looking for the long term FIRE
- Advice to get back on track to FIRE
- Seeking retirement account advice (self employed)
- Saving versus Spending to Achieve FI/RE Faster
| update: eight months into early retirement Posted: 01 Feb 2018 06:38 AM PST Introduction: This post is part of an ongoing monthly early-retirement series that will continue indefinitely, provided that the voting reflects the view that it is still seen as relevant to the community. I suppose that this is my way of giving back to a movement that helped me tremendously on my journey. As this post has become increasingly popular based on the number of views and comments, and as my desire to spend a great deal of the first day of every month on reddit has significantly waned, my responses will be limited. Career and background summaries are provided at the end and repeated every month. Please check those sections as well as the comments and posts from previous months to find answers to potential questions. I genuinely appreciate all the thanks and well-wishers, even if I don't take the time to say so individually. Model: I wish to maintain a portfolio that began in June 2017 at $1,025,772. I will use a maximum withdrawal rate of 3% of the year's starting balance, provided that the portfolio remains above $1M. The budgeted withdrawal amount is $2773 per month for 2018. In 2017, it was $2564 ($2618 adjusted for inflation). Should the portfolio drop below $1M, I will lock back into a maximum $2500 per month ($30k per year) guardrail withdrawal until the market recovers. I realize that this is not how the holy Trinity works, but consider these three factors: a 3% goal withdrawal rate is below the 100% historically safe mark for indefinite portfolio survival, our actual withdrawal rate is just above 2% of the original portfolio balance thus far due to earning additional income, and the extended bull market has put us 15% above our original target amount. We obviously have some flexibility. Spending: Living expenses for the month came to $2238. This is $535 under the 2018 monthly targeted amount of $2773. Our spending is 8.1% under budget for the month, now 8.1% under for the year. We generated $1491 of income this month from my wife's part-time fun job at the library, sales on ebay, and some of my old book royalties. Our investment withdrawal was $747 this month, thus our pro-rated, annually-adjusted withdrawal rate is 0.81% for the month, 0.81% for the year, and 2.19% since retirement. Without the additional income stream, our pro-rated, annually-adjusted withdrawal rate would have been 2.42% for the month, 2.42% for the year, and 3.44% since retirement. Investments: The portfolio went from $1,109,284 to $1,156,382 (a 4.25% increase for the month), which dropped down to a new total of (drum-roll) $1,155,635 after paying the bills. This is a 12.7% increase from the original starting balance of $1,025,772, even after withdrawals of $14,739 for living expenses over eight months. Since retirement, capital income from the investment portfolio has produced the equivalent of a full-time employee generating $104.28/hr of labor income. VTSAX (62% AA) went up 5.3% this month (5.3% up for the year); VFWAX (21% AA) went up 5.7% (5.7% up for the year); VWLUX (17% AA) went down 1.6% (down 1.6% for the year). Reflections: Our previous best month for the portfolio was 11/2017 with a 1.99% return. 1/2018 shattered that mark with a 4.25% return (and was actually well above 6% before this week's correction). We made more money in the first three weeks of January than I ever made in any six-month period as a pharmacist. I have come to accept that the market is in insanely frothy territory, but I will sail obliviously forward with it. I am very thankful that, two years ago, I took the consensus view here of asset allocation and moved from 50/50 stocks/bonds to 80/20. Spending has returned to normal since the lump sum expenses that tend to cluster in December are now behind us. We had no big purchases this month for me to make excuses around, which is a first since retirement. There were just some small things like two unwanted family dinners, amazon prime renewal, and two large electric bills. Experiences: I strained the flexor hallucis brevis in my right foot on 1/4, which caused me to miss over two weeks of marathon training. Who knew such a thing existed? I wasted a lot of time on the computer the first few days after that doing nothing productive. I also came to terms with the fact that I am isolated. My friends have work, school, and children to occupy their time. I have none of those. I have nothing but time. I have no desire to join social groups and meet new people just for the sake of meeting new people because I honestly do not care for most people. My wife is on the other end of ninety-nine percent of my conversations. I did not anticipate what this would feel like. I am not fishing for advice or sympathy; I am just writing what is on my mind. While down with injury, I spent seventy hours creating an astronomy timeline display for the museum where I volunteer. Instead of learning about how the universe formed, it focuses on the order in which we learned about certain aspects of the universe and updates our understandings as you move forward through time. We started Game of Thrones (in season four now). I started running again on 1/22 and began playing the Nintendo Gamecube games that I purchased over a decade ago and never touched. I also made a gratitude list recently. It is ridiculously long. Reading it makes me feel ashamed when I find myself worrying over trivial matters. I think this is a good exercise for everyone to do. Finally, I did my taxes yesterday, which will get a special section this month… Taxes: I anticipated breaking even, but I will be getting an unexpected refund of $5000. This is a breakdown of what happened. First, there is some absurd thing called a Retirement Savings Contributors Credit of $2000 to help low-income people such as myself save for retirement (which I clearly could not do on my own without this much-needed help). Second, I forgot that my income would be low enough this year to recharacterize my $5500 IRA contribution from Traditional to Roth. Third, I forgot that I had $3000 in capital gains losses from bond sales that carried over from the previous year. Fourth, I spent some time converting a hobby over to a business last year, which I figured would be a smart move since I'll have more time on my hands (many of the startup costs can be immediately deducted). Fifth, there is a cap on how much of the excess premium tax credit one has to return on ACA subsidy payments. I anticipated having to pay a lot more back because I made the mistake of getting the most expensive plan that the subsidies would cover fully at 100% FPL. If I had it to do again, I would have chosen a cheaper plan since there was no way I could have got our MAGI down to 100% FPL with five months of employment. In short, we ended up paying less than $100 in taxes despite earning over $73,000. How to eliminate $73k in income: $18k 401(k) contribution, $3k business startup, $3k capital loss carryover, $11k IRA contributions, $2k student loan interest, $13k standard deduction, and $8k exemptions leave $15k in taxable income (and $1k owed in taxes). $1k taxes + $1.5k ACA excess payment negated almost entirely by $2k Retirement Savings Contributors Credit and $400 in foreign tax credit. Net taxes: less than $100. Upcoming: On February 3, I will be going for 1:25-1:28 in my half marathon. No real goal, but a top ten finish (out of 500-600) would be nice. I finished 98th when I pulled myself off of the couch in 2013. My personal record of 1:27:57 should fall easily unless something goes wrong. After the race, more Gamecube, more Game of Thrones, and more running. I will continue volunteering at the museum, and I have plans to volunteer in the campaign for a local House race. She doesn't have a prayer of winning, but that's not the point. I'll also be doing whatever the fuck I want. Career: I am a former retail pharmacist who hated his profession for the following reasons: unacceptable amounts of stress, lack of civility from the general public, capitalism gone amok, fundamental disagreement with the overuse of pharmacotherapy as an answer for underlying health issues, and a severe opiate crisis that few have yet to appreciate. I attended college for eight years to earn a bachelors and doctorate before joining the workforce for nearly twelve years, entirely with CVS. $150k in education costs were covered by academic scholarships ($25k), employment during college ($20k), prior savings from high school employment ($5k), revenue from an eBay business while in college ($10k), and massive help from my parents ($90k). My salary plus compensation went from $115k in 2005 to $150k in 2017. My savings rate was about 70%. Background: I retired at the age of 38 on June 6, 2017, the day before the twentieth anniversary of my high school graduation. I am married with no kids and generated over 95% of the family income while employed. We live in LCOL rural TN. Our asset allocation goal is approximately 60% VTSAX (total US stock market) / 20% VFWAX (total INTL stock market) / 20% VWLUX (US municipal bonds). We also hold roughly $400k in house, land, and belongings not included in the portfolio. My spending model places no dependence upon supplemental income (future employment?), social security ($10k/yr?), inheritance ($500k?), house equity (no heirs?), universal health care (probable?), or universal basic income (possible?). The final balance will be left to charities and worthy causes. [link] [comments]  | ||
| Posted: 31 Jan 2018 04:23 PM PST We bought our house in DC last year for $1.4m. There's a separate basement so we have been renting it out on airbnb and it is generating $3000/month. I am curious if we can rent out the whole house, so I took pics with my iPhone and listed our 5-bedroom, 4-story home on airbnb. Today, I got a booking for $5000/5 nights. This makes me feel like we better rent out my house full time. But where do we live? Should we buy another very nice house and live there or should we buy a small condo, which is less risky? It seems like the luxury rental (1000/night) is less competitive (few people list whole houses) but obviously will be very cyclical and risky. I fear that luxury rental will be the first to get hit during a recession. That said, moving to a smaller condo so we can rent out our primary house seems like intuitive though... like we are making more money but moving into a smaller place? What do you guys think? Am I thinking it straight? Other info: we make 400k a year + have probably $1.5m in stocks. Goal is to RE as soon as possible, hopefully within several years. [link] [comments]  | ||
| Lessons learned from studying my 401(k) options Posted: 01 Feb 2018 03:22 PM PST I was introduced to the idea of FI in January. Reading A Simple Path to Wealth really hit home. I took swift action to correct past mistakes. Not least of which included really studying my 401(k) options. I spent hours pouring through the details. Fortunately, my employer offers three(!) different 401(k) investing options. Options include a private "pooled" mutual fund, Vanguard funds, and self-directed. I contributed to the private mutual fund for years because it's what everyone does. Something like 85% of all employees (I work at a big company) and assets go into the pooled fund. It's the default. It's easy. It's heavily encouraged and advertised. I could never be bothered to read and truly understand the details, options, and expenses. But then I woke up. I read all the retirement materials very carefully, including all the fine print. The pooled fund expense ratio is a whopping 1.7% (but don't worry, says the committee, "expenses are never deducted directly from your account.") The fund attempts to mirror a very conservative 60/40 (equity/bond) benchmark. It's heavily managed and includes all sorts of complicated investments. The fund is made up of about 50 different investments. This all seems overly complicated. Not to mention, too conservative. No more of that! I'm joining the 6% of employees who use the Vanguard option. I've taken steps to move my whole 401(k) into low-cost index funds (82% VINIX, 18% VSMAX) that should approximate the total market. All of this goes to say, I encourage everyone to read their options carefully! Don't just follow the herd. Fees will eat you alive. Be confident in your ability to manage your own money instead of assuming the default or most advertised path is good enough. [link] [comments]  | ||
| Daily FI discussion thread - February 01, 2018 Posted: 01 Feb 2018 03:09 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]  | ||
| Hitting $500k while expecting a baby! Posted: 01 Feb 2018 09:24 AM PST I was going over our finances a few days ago and realized that we've hit a net worth of $500k! The best part was I had always been forgetting to include my wife's 401k and so now we are at $525k. We are expecting our first baby in April so we won't have time to celebrate with a trip like I intended. Instead, we decided to go shopping to replace our plastic (temporary that turned into long term) plastic kitchen chairs. We found chairs AND a kitchen table that we love. Not how I expected to celebrate this milestone, but it feels so good to own a kitchen table that wasn't bought at a garage sale! I love having this space to talk about financial planning and achievements. Being so excited for ourselves and not being able to share with family/friends without it seeming like bragging is hard and it's nice to share with so many like-minded people!! [link] [comments]  | ||
| Should I even be contributing to a Roth 401(k)? Does a traditional 401(k) make more sense? Posted: 01 Feb 2018 07:22 AM PST I'm 23 years old and currently make around $60k. I contribute 8% to Roth 401(k) which is almost $220 a paycheck. My company also contributes a decent percentage, which is almost $110 to a traditional 401(k). I'm in a finance rotational program and will be promoted in 6 months making between $73k - $76 depending on department placement. Realistically my pay could be closer to $85k - $90k in 3 years assuming average promotion time at my company and no major job/company change. I'm aware that the general rule of thumb is contribute to a Roth if you expect to be making more in retirement than you do now, but would a traditional 401(k) make more sense given my age/potential earning power? [link] [comments]  | ||
| Need advice regarding best FIRE approach to spend 30k, I have 7 options. Posted: 01 Feb 2018 02:45 PM PST Hi, Please see the the image options, and my current financial situation. https://imgur.com/a/LBBHd I have 7 options to spend the interest free loan from my in-laws, ~30k. I always wanted to get into real estate and I'm doing that . My fire number is 2.2 Mil. Which one of these options do you think can get me there fastest ? OPTION#2: I want to buy my own place, but me and my wife work in opposite directions geographically. Where we live, buying a house is very expense. We are in the middle to have the least drive time for each. I dont want to take a huge loan, and i dont have the 20% down :( for a house. OPTION#3: You can see that paying back 401k makes sense, but then i wont be able to buy another home. I wanted 3 homes, and now the interest rates are increasing. If i don't do it now, i might not be able to anytime soon, i guess the next 5 months. OPTION#7: Makes sense in the long run, but would be nice to increase cashflow or pay mortgage instead of rent. Any help is most welcome. Regards Long time lurker, from a throw away account [link] [comments]  | ||
| Dollar cost averaging vs. Lump sum investing during high CAPE Posted: 01 Feb 2018 04:39 AM PST Long time reader and first post. Lately I've been seeing people worried about investing windfalls in equities and the responses are predominantly two opinions: dollar cost averaging (small chunks invested over time) or lump sum investing (throwing it all in at once). Comments often bounce between addressing feelings of risk and the consensus that DCA usually underperforms lump sum, according to research that has been done. Example thread: https://www.reddit.com/r/financialindependence/comments/7uajxv/have_a_big_chunk_of_money_to_invest_wife_is/ I'm interested in knowing if there has been any analysis of specific market conditions (using CAPE, not just peak stock market) when it comes to the DCA versus lump sum approach. I'm aware that we always live in interesting times, past performance doesn't predict future performance, and there are only around 5 data points where the CAPE has been in the ballpark of current figures. https://upload.wikimedia.org/wikipedia/commons/thumb/7/73/SP_500_Price_Earnings_Ratio_%28CAPE%29.png/400px-SP_500_Price_Earnings_Ratio_%28CAPE%29.png It would be great to see a comparison of strategies over time with X amount invested starting at the start of a high CAPE instead of at the very top of the market. I've not seen this done, and even if the results are not significant due to limited data points, it would be good to know which method was better historically and would help me understand the relationship behind CAPE and investing approaches. If there's a calculator to test prior market conditions out there using both methods, that would be an excellent didactic. [link] [comments]  | ||
| Anyone working a job they really hate to achieve fire? Posted: 31 Jan 2018 07:12 PM PST I am fortunate in that I'm currently in a well paying specialized job where my income allows me to save massively towards fire. The unfortunate part is I strongly dislike the work, my coworkers and the role is quite stressful. I've frequently thought about doing something different - something where I don't dread walking into the office most days - but leaving my position would entail a 50%+ pay cut. I realize my current role is the absolute fastest way to fire, but also hate that to get there I'll be spending years doing something I don't like. Curious if anyone has been in a similar position and whether other have put fire over their ideal work/work-life? [link] [comments]  | ||
| Is it worth it to FIRE if you're going to be miserable while you're doing it? Posted: 01 Feb 2018 02:42 PM PST Been thinking about this a lot. I'm in my early 20s, have a low-6-figure job, and I'm absolutely miserable. I need therapy and have depression (hard to know exactly how much of that is work-related but I'd reckon a lot). My hours aren't terrible, but it's just absolutely mind-numbing, meaningless work. I like my coworkers, I have great benefits, but I just can't stand the banality of the work. I have about $240k saved and invested, and if I stayed at this job I'd be well on my way to FIRE. I know that this may be the highest salary I'll get for years (my industry doesn't pay well, I just got lucky). But I can't really take it anymore, and I don't know if it's worth it to FIRE if I'm this unhappy as I do it. Most days I just want to quit my job entirely and volunteer abroad while I'm still young or pursue what I'm really passionate about while draining some of my savings (something artistic and that will not generate any income). I know I have a lot saved up for my age—I'm just so afraid of taking a wrong financial turn that it's keeping me in golden handcuffs at this job at hate. What should I do? When is it no longer worth it to FIRE? Anyone else have similar stories? [link] [comments]  | ||
| Posted: 01 Feb 2018 10:49 AM PST Am new to Bogleheads. I read through the basics and found out I have about 95% stocks ( 28% individual stocks )and about 5% bonds . I want to hit 80% stocks and 20% bonds. I was thinking of just going all stocks in my 401k accounts as I won't touch them for another 20 years and have bonds in my taxable account. The idea here is if I need the 20% for emergencies in the next 10 years, I can pull it out as it is in a taxable account, and I can rest assured that there won't be much variation. But bonds are not tax efficient and I have to pay taxes on the income. So my only option is to invest in tax exempt bonds. Am I on the right path? Is there any other way to go about it? [link] [comments]  | ||
| Posted: 01 Feb 2018 07:09 AM PST I would like to interview someone who has already achieved FI so that I can share on my blog how they were able to reach FI. Reach out to me if this is something you'd be interested in. Thanks in advance! [link] [comments]  | ||
| Scary responses to maxing out your 401k over at /r/AskAnAmerican Posted: 01 Feb 2018 03:48 PM PST
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| What if you don't make much money? Posted: 01 Feb 2018 02:48 PM PST Just wondering what your thoughts are. Is this route to financial independence possible, saving up 25 times your income, if you already live very frugally but just don't have a high flying career? If you're not a software engineer? [link] [comments]  | ||
| Would you participate in this ESPP? Posted: 01 Feb 2018 08:57 AM PST Background: I am not maxed out on 401k or HSA, but contribute to both. I am looking at contributing to the company Employee Stock Purchase Plan (ESPP). From what I am reading, our ESPP is not that great compared to others I see people talk about.
That last point sounds like it is not that great. From what I have read, some plans buy stock at the lower price of start/end of the period. I would want to sell immediately, so really I'd only be making ~5% return if I'm lucky, on 15% of my salary, minus fees, which is probably only a few hundred dollars a year. What what you do if you were in my shoes? [link] [comments]  | ||
| Is FIRE or the long-game a better option Posted: 01 Feb 2018 12:08 PM PST Hey Squad, First post, this is a new account because my old one is too closely related to my government name. I have been a long-time admirer of FIRE and am a bit confused about where I stand in my financial life. I am a college dropout with a below average job taking in around 25K a year at around 30hrs a week. Due to work and generally not spending much money on myself I have accumulated around 30k in savings. Both of my parents passed away while I was in my 20s (hence my college dropping out) so I now sit on a home valued at over 800k that I am renting out to tenants and splitting the income with my sister. From life insurance and inheritance I am also sitting on about 110k. My rent is extremely high as I live in Toronto and am paying for a downtown premium due to the increased quality of life and my ability to not depend on a car for groceries and work. Finances shape up like this. Earnings (from work $2200 a month from house rent $900 a month) Costs (rent, bills) 2000/month Savings [Liquid - 150k in basic savings account] + [employee stock plan - 2k] + [rental property - 500k] I already live a simple life which I am sure I could lower my cost of by economizing diet and recreation. I do not intend to have kids and I am with a partner who is also making barely above minimum wage but for now as she goes to school I carry the financial burden. I have very little career prospects where I am at but I am sure I could stay there for a decade and eventually make maybe double. School is not out of the question but I am generally the type of person that is not hungry for career progression and I would be comfortable making 50k a year doing something I don't hate. I would love to retire and just live out of a van and squat in the desert/build a small shelter on a country property. I do not have delusions of a big home that is in an affluent area or driving my dream car. Do y'all think I am actually a candidate for FIRE, or is this more of a traditional long game retirement? What are some ways I could maximize my savings with my rather small income. Sorry for the ramble, I have lived through my 20s thinking "I am going to die broke" and now I have some level on Finance and I am very confused about the right steps. **made some edits for clarity [link] [comments]  | ||
| I have the short term FI looking for the long term FIRE Posted: 01 Feb 2018 11:37 AM PST I am 29 with a NW of around $105,000. I make around $50,000 per year now, average income since 22 is only $35,000. I am completely debt free. I feel like I am on track to retire wealthy, however not retire early. I'm FI enough to survive 7 months if I lost my job tomorrow. Just looking for the RE. I have $26,000 in my 401k, $30,000 in an investment account, $25,000 in CDs, $10,000 in savings account, $9,000 in bonds, and $5,000 in checking. Am I spread too thin? Am I missing anything? My current plan is taking $3500 and adding to my investment in the investment account mutual funds. [link] [comments]  | ||
| Advice to get back on track to FIRE Posted: 01 Feb 2018 10:38 AM PST A few years ago I wanted to start my journey to FIRE. I was making 62k and had a plan to pay off my student loans. However, last February I was laid off and have been temping on and off making $19/hr. I'm currently temping with the assignment ending in March. I am 30 years old and have $40k in student loans and accumulated $15k in credit card debt. Let's just say 2017 is a year I want to forget. I stopped contributing to retirement (accumulated about 20k in a Roth). I rent an apartment with my roommate and girlfriend so I pay $600/mo. What is the best course of action to get back to the journey of FIRE? My goal before being laid off was to be FI by 50 at the latest and I've been applying to places to get back to the 60k range (getting a response tomorrow hopefully). Thanks for reading. This situation the past year has been frustrating. [link] [comments]  | ||
| Seeking retirement account advice (self employed) Posted: 01 Feb 2018 07:30 AM PST I'm really new to the idea of FIRE, and I'm head over heels about it. I grew up in a household with a lot of children, and my dad will have to work for a long time before he can retire. I don't want that for myself and my husband. A little background/info... We got married about 3.5 years ago, and we opened up a Roth IRA two years ago and have contributed every month. Our income is finally reaching the point where we will be able to max that out this year, so I'm looking for other opportunities. Husband is an Electricians apprentice with no offered retirement plans. I am a self employed private cello instructor, and I do some at-Home clerical/office/management work for a partnership of real estate investors. I'm 23 and husband is 29. We also have one rental house cash flowing about $300/month right now. Hoping to bump that up to $400/month when summer hits and I can increase rent a little. We are projecting total income to be 60-70,000 this year, and our living expenses will hopefully be close to $25,000. I've done a little research, and my limited knowledge makes me nervous, but I think a Roth 401k or a solo 401k would both be decent options for me since I'm entirely self employed/freelance in everything I do. Advice or suggestions? I want something that I can contribute a good chunk of money to every year, $25,000 now, and hopefully more in the future, so it needs to have some growing room. Any advice or direction is much appreciated!!! [link] [comments]  | ||
| Saving versus Spending to Achieve FI/RE Faster Posted: 01 Feb 2018 10:57 AM PST This sub is about reducing spending, simplifying your lifestyle and spending less to achieve FI/RE. But has anyone thought about increasing spending to achieve FI/RE? What are everyone's thoughts on this? I'm not talking about mindlessly spending – that's wasteful. What I'm talking about is looking at spending money as a source of self-motivation. I recently signed up for Equinox, and I had a Planet Fitness membership before. I pay about $165 per month. Is it excessive? Perhaps it is, but I'm getting results. I've been going everyday for 11 days straight, whereas I only go to PF once a week at best. And now that I've started Equinox, I'll never go back to Planet Fitness. (I can go into more detail about Equinox if anyone is curious). But rather than looking at it as having wasted $155 a month since I could have been spending $10 a month, I look at it as needing to earn an extra $165 each month to support the new expenditure. If I earn an extra $165/month to support Equinox, and you save $165 a month, the result is the same, but I have more consumption power. Of course nobody earns exactly $165 extra, which means realistically I'd earn $200 extra a month to support Equinox, putting me ahead by $35 a month. This gives me motivation to work harder and earn more rather than becoming complacent in my current situation. I'm also currently studying for the CFP, which will net me a 10k raise when I pass in July. Why sign up for Equinox then? Can't I just study for the CFP and save the 165/month? Theoretically, yes, but if there is no immediate need, no pressure to get something done, nothing will get done. Which would mean I'd fail in July, then have to retake it in November, setting myself behind by half a year. So by spending more on the right things (within budget) you'll have greater motivation to work harder, earn more, and achieve FI/RE faster. [link] [comments]  |
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