Financial Independence The Hustle covers FIRE |
- The Hustle covers FIRE
- Looking Forward To The Day...
- Looking for any input on my situation.
- Estate Planning checklist/spreadsheet
- Daily FI discussion thread - May 06, 2018
- Question about the trinity study
- FIRED in 90's or early 00's
- 10 month update on FIRE in Jamaica by 27
- earning past FI
- 457 rollover question
- Anyone have FIREd through real estate? If so, how did you do it?
- There's Fire, Fatfire, Leanfire. Why not InstantFIRE?
- As a new grad, how can I set myself up for FIRE?
- For dividends: better to have individual stocks or ETFs?
- Is college in the US compared to Singapore a financially sound decision?
| Posted: 06 May 2018 06:48 AM PDT One of the tech/business daily newsletters I read covered FIRE today, including this subreddit and MMM. Article below. How fairly do you think it was portrayed? [link] [comments]  |
| Posted: 06 May 2018 09:34 AM PDT When my NW reaches $1 and is no longer negative. It's rather aggravating to be using every last discretionary dollar to get out of debt since paying off debt doesn't "compound" exactly. Yes, paying off interest-bearing debt means I won't have to pay extra in the future. But I'm really getting frustrated with the 1:1 ratio. Put one dollar in, NW goes up by $1. Whereas with investing, that $1 means other dollars in the future. Rant aside, I have to thank this sub. I've been going above and beyond with increasing my NW for the past year or so. But my "savings" have been pretty subjective. I never quantified it as 50% of take home pay. But seeing all the flairs on here with saving/investing rates around 70% and sometimes even higher? Man, you guys have really challenged me to step it up, I love it. [link] [comments]  |
| Looking for any input on my situation. Posted: 06 May 2018 07:07 AM PDT I'm 41, no wife or kids. My girlfriend is ambivalent at best about the FIRE concept but that is another issue. I work as a software engineer. My current salary is $115,000 per year.
I only discovered the official concept of FIRE a couple of months ago, and since then I've done some work on my budget and retirement accounts. For a variety of reasons I would like to retire in 5-7 years.
Here's some information on my net worth at the moment.
Total: $710,000 The only debt I have is a small note on my truck, at a 1% interest rate and it will be paid off in 2 years. I will drive it until it falls apart.
My budget has me spending $35,000 per year. However, I am renting in what I would consider to be a MCOL area. I don't see myself staying here after I manage to exit the rat race. I would prefer to buy a modest home in another MCOL or LCOL and use that as a home base for some light travel and other pursuits. For example, I still enjoy writing code and building systems, I am just burnt out on corporate nonsense. Most of the time I feel like I'm just digging a hole and then filling it back in like Cool Hand Luke.
Given this information, what advice or feedback would you give? Am I too heavy in my cash accounts? Should I boost my 401K contribution? Should I consolidate my IRA accounts? I realize Vanguard investment products are popular (I've been looking at the FIRE blogs) but are higher cost than other products at TD Ameritrade. I am open to moving IRAs to Vanguard and have started investigating this process.
I appreciate any feedback or advice. If there is any other information that would be of help, ask away. [link] [comments]  |
| Estate Planning checklist/spreadsheet Posted: 06 May 2018 02:21 PM PDT Hi all, Can anyone recommend a checklist/spreadsheet that could help with keeping all information together in a simple easy to access manner? Thanks in advance. [link] [comments]  |
| Daily FI discussion thread - May 06, 2018 Posted: 06 May 2018 04:08 AM PDT 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]  |
| Question about the trinity study Posted: 06 May 2018 01:39 PM PDT Suppose in Year 1 of retirement my portfolio is worth 1 million. 4% SWR = $40K. OK so far. Now suppose in Years 2-5, my portfolio does fantastically well and is now worth $10 million. Say, also, for the sake of argument I go back to work for one month and "retire" again. I am now retiring with a $10M net worth, so I can justify a $400K SWR based on the current value of my portfolio. Basically what I'm asking is-- in any given year, if your portfolio value is _higher_ than your initial value, you could pretend that year was your 'start year' and increase your SWR forever, no? I'm trying to figure out if I have a wrong assumption somewhere. [link] [comments]  |
| Posted: 05 May 2018 08:34 PM PDT So there are alot of stories especially in the media about people who have FIRED or planning to FIRE in 5 or so years time. These stories are generally met with commentators scoffing and saying they will eventually need to go back to work because of how expensive everything is getting and it just wont work out. My question is, is there any stories or does anyone here know someone who FIRE'd more than 15 years ago and still to this day not working? [link] [comments]  |
| 10 month update on FIRE in Jamaica by 27 Posted: 05 May 2018 08:25 PM PDT So most people might not remember me but I made a post here about 10 months ago about FIRE in Jamaica by 27. I was 19, a recent graduate with no debt, working 2 to 3 jobs and making no more than 2000 US on any given month. I also had my sister as a dependent and I payed upkeep on my car which had no debt on it and was investing a bit here and there. I got a lot of good advice from everyone, mostly that my only option was to drastically increase my income. I took those words to heart and 8 months ago I decided I'd quit my job and get a higher paying one, and I did, one that pays me a 50k+ salary. I reached my goals for last year swimmingly. This year was no different, I decided by the end I'd reach six figures, and I'm pleased to say, as of a few days ago I'm officially at 6 figures, still debt free, and with not much responsibility than before. I now pay for rent and utilities but those amount to no more than 800USD a month. I also rent a place for my mother and sister and pay for schooling but still no more than 500USD a month. Other than that and my vehicle I'm pretty much saving and investing every penny. I also helped my girlfriend pay off the entirety of her student loan(of course with an actual contract to pay me back with some interest). So thanks again guy! I'm gonna make it, I promise! [link] [comments]  |
| Posted: 06 May 2018 12:54 PM PDT My portfolio is at the knife edge of FI -- it is correctly balanced and just sufficient to achieve my desired 3.33% SWR. I have decided to work until early 2019 in order to grab some juicy low-hanging fruit (e.g., crossing 10 years with the company, 2019 401k match, 2018 bonus payout). My question is: What should I do with the money I earn from now until I retire? I'm thinking I should keep my new earnings in cash because ...
So regardless of how the market does, it seems like I'll be happy enough to just hold my earnings in cash. That makes me suspicious. Is my reasoning flawed? Do you have a better suggestion of what to do with new earnings past FI? [link] [comments]  |
| Posted: 06 May 2018 10:29 AM PDT I am a local government employee and always put my money into Roth accounts when possible (457, 401k, IRA). I always loved the idea of having a 457 account because you can take that money out penalty free at any age after you are no longer employed there. I recently found out that rule does not apply to Roth money and it's only pre-tax money that doesn't get the penalty. I immediately switched my contributions from Roth to traditional but I did start thinking about rollovers: when I retire can I roll the Roth part of my 457 account into an IRA and keep the pretax money in there for withdrawals? Any help with that question would be appreciated, google wasn't much help. PS - on a completely unrelated note does anyone ever get frustrated on this subreddit when comparing yourself to others? I know comparison is the theft of happiness but it's tough not to. I feel like I save a lot but it's next to nothing compared to what others on here share. [link] [comments]  |
| Anyone have FIREd through real estate? If so, how did you do it? Posted: 06 May 2018 11:57 AM PDT |
| There's Fire, Fatfire, Leanfire. Why not InstantFIRE? Posted: 06 May 2018 01:30 PM PDT The conventional way is to slave away for 20 years and then retire early. If you murder or rape someone, you usually get away with less than 20 years. So why should someone slave away for 20 years. That's a very long time! Surely there may be creative ways to instantly FIRE without slaving away at all? [link] [comments]  |
| As a new grad, how can I set myself up for FIRE? Posted: 05 May 2018 08:52 PM PDT |
| For dividends: better to have individual stocks or ETFs? Posted: 05 May 2018 05:24 PM PDT |
| Is college in the US compared to Singapore a financially sound decision? Posted: 05 May 2018 05:25 PM PDT Hello guys, I am a student in a junior college (US equivalent: grade 12, age 18)in Singapore. My question is, from a purely financial standpoint, is it wise to spend 400k SGD(300k USD) on an ivy league education in the states, or spend less than 40k SGD(30k USD) and study in the National University of Singapore, which is also a highly ranked university, but not to the level of the ivy leagues. (I understand there is the experience, non tangible aspects of studying overseas, but let's put that aside for the moment). I am interested to work in the tech industry (software developer, already has many years of experience), and salaries in the US(pre tax) are easily twice that of Singapore. Despite the US being unequal, those in the top echelons of society(eg. Senior software developers at the big tech companies, wall street traders) are rewarded very well. In Singapore, the cost of living (for Singapore citizens) can be quite affordable(due to subsidised housing and healthcare). There are just so many factors to consider, so what should I be thinking about to make a decision? FI is one of my goals in life, but being able to work on my passion in technology is equally as important. (Btw, i will only be able to enroll in university in 2021, due to compulsory military service in my country) [link] [comments]  |
| You are subscribed to email updates from financial independence / early retirement. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment