Financial Independence Did you lose interest in the daily corporate rat race when you became financially independent? |
- Did you lose interest in the daily corporate rat race when you became financially independent?
- Any experiences of FIRE in 20s?
- Im about to graduate College with $10,000 dollars saved
- Anyone else use the tenets of FI/RE specifically to pursue a very low paying career?
- Retire Early, what did you do with your pension?
- FHA loan or conventional loan for first multi-family property?
- What’s your favorite formula to get people hyped on FIRE?
- No Degree...no problem?
- How do I propel wealth once I'm out of debt, have my emergency fund, and 1 yr of expenses saved?
- Real Estate investing or building a portfolio of investments in the market?
- Daily FI discussion thread - March 04, 2018
- 47 with decent savings but with “extra” cash-not certain best route
- Roth advice
- Best option for EUR exposure?
- Can we make a list of part time jobs with health benefits?
- Another article about how much money it takes to "buy happiness"
- Fi/re Twitter follows
- Poland - Investing, emigrating or saving?
- Retire early in a country with lower cost of living?
- Still confused by the consumption habits of many people in the US. Interested in hearing everyones thoughts.
- Solo 401k questions - Roth vs. Traditional
- FI thought for the day: if you win the rat race, you're still a rat.
| Did you lose interest in the daily corporate rat race when you became financially independent? Posted: 04 Mar 2018 01:33 AM PST For years I told myself that I loved the corporate rat race when I was working full time. I told myself that the office politics and infighting and passive-aggressive coworkers who tried to make me look bad so they could gain an advantage over me was all part of a fun game. Then a relative died and left my brother and I a fair amount of money. Good money but really not enough to formally retire completely early. But then the office politics and the long commute started to get to me. When I did not HAVE TO work under those conditions, the corporate rat race game didn't seem so stimulating. So I got off the horse and moved to an easy part-time job and semi-retired. I would love to hear the stories from other people who dropped off the corporate rat race EARLY once they got enough money even though they loved it at one time. [link] [comments]  |
| Any experiences of FIRE in 20s? Posted: 04 Mar 2018 05:51 AM PST Hi all, I am in a position to early retire in my 20s with a portfolio of around 2m usd. I was hoping someone could share their experiences of this. How did friends and family react? Do you get treated differently? Did you ever feel a lack of fulfilment/ purpose in life? Thanks [link] [comments]  |
| Im about to graduate College with $10,000 dollars saved Posted: 04 Mar 2018 02:05 PM PST First of all, I subscribed to this sub recently and I have learned a lot. Thank you so much everyone. Now, to my question. Recently, I have learned about the power of compound interest. I have $10,000 saved from cryptocurrencies and I would now like to invest some of it in something more stable. I have learned about stocks, Mutual funds, Index funds, Roth IRAs and ETFs. I am also interested in real estate investments. What steps should I take to achieve FIRE? [link] [comments]  |
| Anyone else use the tenets of FI/RE specifically to pursue a very low paying career? Posted: 04 Mar 2018 12:48 PM PST This may be a niche post but figured I'd throw it out there. 29/M/NYC here with a BFA and a full-time position at a marketing agency. It was a job I stumbled into as a temp shortly after I moved here, but I've lasted 7.5 years with generous raises and bonuses as the job grew. I got very into r/personalfinance, r/churning, and r/financialindependence the past few years and it's put me on a track to $100k NW by my 30th birthday. Anyways, my current job pays about $80k/year, which includes salary, bonus, and 401k match. My side hustles net about $10k. For NYC, my COL is low. Rent + utilities + internet run me about $900/month. Living with long-term s/o in a rent stabilized apartment so those details shouldn't change much. All throughout my time at this job, I've been working on my passion projects nights and weekends and developing a wide network and a good reputation. I've even been able to work on some corporate gigs, which pay fairly well. I feel enormously fortunate, but that main job is just killing me at the moment. I never wanted it and I don't want it now. When I eventually leave, I won't pursue another position like it. When I hit $100k nw, I'm likely to ask my boss for either part time or walk away. Obviously that's far from FI or RE, but I'd be miles ahead of most people my age, and I'd have a much more solid ground to pursue my passions. I've obviously been vague about what exactly my extracurricular activities are, but I was wondering if anyone else is in the same mindset, and if so, what are your plans, concerns, or regrets? Musicians? Antique lovers? Actors? Writers? Studio artists? [link] [comments]  |
| Retire Early, what did you do with your pension? Posted: 04 Mar 2018 05:18 AM PST Hey guys, just curious on everyone retiring early (go fuck yourselves) and I am on the same route to hopefully hit this by 45. What did you do with your pension, because there is of course a lump-sum, or a delayed collection of your pension. One being with a reduction at 55 (if available) others to normal retirement age. I'm kind of stuck calculating the future value of my defined benefit pension, and how to implement it into my retirement plan. I'm in Canada, typically 80% is available to be sheltered into a locked-in RRSP until 55. Edit: I've read everyone's comments, thank you for the insight and curiousity. Looks like this is something the community could use a summary for, because we all know how to start the savings plans and accounts to fund, but where are the flow chart on taking the money out? [link] [comments]  |
| FHA loan or conventional loan for first multi-family property? Posted: 04 Mar 2018 02:22 PM PST So for 2017, I spent part-time helping a family friend manage his rentals and got what I think is a good grasp of the market and how to make everything work. I have $150k saved up; of which I want to buy a triplex or a 4-plex in my area. A duplex is cheaper, but I want to have at least 2 other income streams to cover the mortgage. I've picked out a duplex, triplex, and a 4-plex in my area and they are $285, $315, and $385k. I have a moderately high credit score (~650) since I ruined my credit during college, I've spent the past few years working my way back up. Now, I have the funds for a conventional mortgage and do 20% down; but I've been doing more reading about FHA and I think it might be a better option. Yes, I have the PMI (MIP as they call it), but the idea is that if I can buy the 4-plex for $400,000; do a 3.5% down payment and put $15,000 down; I can immediately go buy a 3-plex or the duplex as well while living in the 4-plex... I've ran the numbers using conservative numbers and the numbers on all the building are great. If you all were in my situation, what would you recommend I do? [link] [comments]  |
| What’s your favorite formula to get people hyped on FIRE? Posted: 03 Mar 2018 10:58 PM PST edit: If not to get "people" hyped, than to get other Redditors hyped :) [link] [comments]  |
| Posted: 03 Mar 2018 08:21 PM PST I'm a 25 year old father and husband that has increased my annual gross salary from $11,500 to $58K within 4 years by climbing the corporate ladder. I don't possess an Associate's or BA; have a year of college education under my belt with approximately $15K in student loans. I have $5K in savings, but am living considerably close to paycheck to paycheck. I started investing 1% in my 401k around 3 months ago. In an attempt to achieve FIRE, do I:
Thanks! Edit: The formatting of my numbering was irritating me so I fixed. This was my first OP and wasn't aware that the formatting would adjust to paragraph format [link] [comments]  |
| How do I propel wealth once I'm out of debt, have my emergency fund, and 1 yr of expenses saved? Posted: 04 Mar 2018 02:24 PM PST For me this is about $30k in savings and no debt, which I'm finally close to achieving (at 27). I want to be as aggressive as reasonably possible with propelling myself into wealthier circumstances early. The goal is half-retirement or full-retirement. I've used the spreadsheet here and found that I can have a very humble retirement at 40. Half-retirement is at 34, and I feel that I might as well just keep working at that point. I'm becoming a little disappointed and anxious by this, because I've always been driven by personal projects, but I've settled down a lot after finding an employer I really like and starting a family. I have more low-risk financial opportunity as an employee than when I was scraping by on the side, but I feel that my personal freedoms have become limited - and that someone has placed a ceiling over my head in terms of potential financial growth. Other than taking the risk of starting a business, freelancing, high-risk investing, or finding some form of passive income, I can't for the life of me figure out how to spend significantly less or make significantly more. (Also, our market just went from ridiculously bullish to slightly bullish, so who knows how that will go?) I know this is going to come off as privileged to a lot of folks who are just trying to get their shit together before they turn 55, but I have never been OK with idling my time by at work - and before adjusting calculations today, I thought I'd be in a better place by 35. I didn't think I'd be retired, but I thought it would be at least possible if I was highly aggressive with savings. I'm just not seeing that. The numbers: $60k / yr net income, no 401k match from my employer, ~$30k / yr expenses. Modest returns when I invest (usually 50% in a 3-4 month period, but very infrequent because I only invest in opportunities I'm absolutely sure of, and it honestly borders on causing me more stress than it's worth). When I realized saving $3,000 no longer meant multiplying my savings by 3x, but instead simply gave a modest bump to what was already in savings, I knew the playing field was shifting and that I needed to start thinking about bigger money now. EDIT: Also, if retirement is 10 - 20 years away, how do I enjoy life in the meantime? I struggle a lot with this, because working a long career just wasn't something I ever had in mind. [link] [comments]  |
| Real Estate investing or building a portfolio of investments in the market? Posted: 04 Mar 2018 08:45 AM PST I have roughly $30,000 saved and have no previous investments. Would it be a better idea to spread this across different ETFs, Indexes, etc., or would it be a better idea to look into real estate, and start building this up. My goal is to create a small stream of money, that down the line can hopefully be turned into well... a large stream of money. I'm still young (≥ 21) and have a lot of time to contribute to this and let this build up. [link] [comments]  |
| Daily FI discussion thread - March 04, 2018 Posted: 04 Mar 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]  |
| 47 with decent savings but with “extra” cash-not certain best route Posted: 04 Mar 2018 02:05 PM PST I'm 47, and would like to retire in 5 years. Not early for some but it's my goal. Planning on living until 70. So around 20 years of retirement. No kids. House with net value of about $700k cdn. Investments of about $400k. No debt except car. Just finalizing a one time cash deal that will net me $130k. This will not happen again. I'm also not great with saving money. I do try and have auto withdrawals and other things to offset my impulses. So, trying best to figure out what to do with current $. I could invest all with my broker. Or I could use $30k to pay off my car. The interest over the 5 year term would be about $4k The concern I have is that the loan on the car is an obligation. If I pay off the car with the plan to use the same money each month to add to investment, it would make sense. HOWEVER, i don't know if I have the discipline to do this. Anyone have any ideas of the best way to proceed? (As more background, I have a job in the low $100's, live in an expensive city and do ok. I'm just kinda bad with money. Thanks! [link] [comments]  |
| Posted: 04 Mar 2018 10:03 AM PST Alright y'all, I know the whole spiel about timing vs time in the market. I'm about to max out Roth for last year (just opened one with Vanguard) and it might be a little while before I can max out this year's. My issue is: I want to hit the 10k minimum buy in for VTSAX this year and I'm afraid of moving my money out of their money market fund into something else while I'm saving up for it. Does it make sense to not invest that money in another fund until I can buy in to the fund I want? I understand that I would be missing out on potential gains but losses could potentially delay me buying another year, plus any associated fees. Also, I'm not sure of whether this is appropriate to ask here, but would any one here argue for/against using that fund for retirement? I mostly use target dates for my 401k and I'd like to do something different for my Roth. All advice/criticism is welcome; I think this makes sense for me but I've definitely been wrong before. [link] [comments]  |
| Posted: 04 Mar 2018 01:26 PM PST Hi I'm currently trying to rebalance my portfolio after a large cryptocurrency windfall - I have about enough to RE but will keep working for a while (29yo). I'm currently in Australia but want to spend several years in Europe, especially closer to traditional retirement age so wanted to make sure if the AUD and/or USD tank relative to the Euro that this will still be possible. Any recommendations? I initially thought of buying an apartment to rent out that I could eventually use as a base but not sure if the hassle will be worth it if there is any easier option. [link] [comments]  |
| Can we make a list of part time jobs with health benefits? Posted: 04 Mar 2018 08:47 AM PST |
| Another article about how much money it takes to "buy happiness" Posted: 03 Mar 2018 09:31 PM PST Previous articles had pinned it between $70K and $75K; this one claims $95K. Any thoughts? https://www.marketwatch.com/story/this-is-exactly-how-much-money-you-need-to-be-truly-happy-earning-more-wont-help-2018-02-14#false [link] [comments]  |
| Posted: 04 Mar 2018 11:18 AM PST So yes I am many years late to the party but I reactivated my Twitter feed and I'm adding people. Any good FI/RE Twitter's to follow? [link] [comments]  |
| Poland - Investing, emigrating or saving? Posted: 04 Mar 2018 03:37 AM PST xpost from /r/eupersonalfinance I'm 30 yo and I work in the senior legal field in Poland. I make about 8000PLN () after tax monthly, of which I save about 4000PLN () per month. At the moment I have 30000PLN () saved up by myself and another 20000 PLN () on our combined saving account. I know its not much but I spent all my saving last year on the wedding, traveling and flat renovation. We don't pay for our flat as I inherited it. Out of the 8000 I'm making, I'm saving 4K on my personal saving bank account, I wire 2k to our mutual account (that we use monthly and saves from it) and I keep 2k as my spending money (Gym stuff, video games, gadgets etc). My wife makes two times less but has the possibility to earn more than me in time (passed bar exam). I'm making a significant amount of money as far as the country median and average goes but I don't feel it. We don't have any mortgage nor big spending's. I wonder what should I do next as I'm on a crossroad. Should I switch my career and specialize in the IT field as a dev and maybe in a couple of years earn more (I'm a code beginner). Or should I go the route I'm going right now (but I hate it) and maybe double my pay in 5 years? One of the routes I'm considering taking is to move to Canada, Switzerland, Germany or France as I speak 3 foreign languages and have studied abroad. It would boost my pay but my living spendings would also go up. What about my savings? Should I keep saving until 60k or 90k? (to have a full year of savings) or start investing? However, I don't have any background in investing, everyone is talking about index funds and crypto but I'm more "fluent" in foreign stocks (EU and NA). How to start? What tools to use to invest? Where should I open my investor bank account? I plan on buying a house down the road (in 5 years) and have kids (around the same time) so the next 5 years are all about savings and getting as much ROI. My long term goal is to FIRE and live out of dividends. [link] [comments]  |
| Retire early in a country with lower cost of living? Posted: 04 Mar 2018 03:48 PM PST Have you considered going to a country with a lower cost of living to make it much easier to retire early? There are many countries that are like half the cost of living of my country - I think i'm a long way from being able to comfortably retire in Canada, but I can probably retire in Portugal, spain, thailand, Malysia, and a bunch of others pretty soon. I'd imagine you only need like 300-400k usd to be able retire in one of those countries. Am i missing something here, is it a bad idea to retire in one of those countries once you've accumulated like 400k usd? [link] [comments]  |
| Posted: 04 Mar 2018 10:36 AM PST First, please let me know if I should post this in another forum. I'm new to the FI community, but like many FI journeys I've read about, I've always been FI-minded, just didn't have a name for it. I spent large chunks of my life living overseas - parent in the military, and I've done a lot of volunteer work - all of which contributed to my frugal mindset. Now that I'm in my late 30s, all of my friends the same age make a good living, and have the lifestyles to show for it. Many of them detest their jobs, and spend hours a week complaining about it. A friend is remodeling his house and purchased a $2k range set without thinking. Meanwhile I use a microwave I bought on craigslist for $10. In that persons defense, their income is 3x mine. But still - the lifestyle choices confuse me. Especially since he thinks of his career as a necessary evil, and it could be no other way. My parents were frugal, so I'm not sure when this happened to society where we now think that a mark of being older, or having a high income, is having nice things. Am I alone in this confusion? Or am I missing something? [link] [comments]  |
| Solo 401k questions - Roth vs. Traditional Posted: 04 Mar 2018 08:47 AM PST I am self-employed and looking to open a solo 401k, but not clear on how they work and how roth and traditional are different.
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| FI thought for the day: if you win the rat race, you're still a rat. Posted: 04 Mar 2018 02:56 PM PST |
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