Financial Independence When to pivot from growth to income for FIRE? |
- When to pivot from growth to income for FIRE?
- Daily FI discussion thread - May 29, 2018
- What popular FIRE advice do you disagree with?
- Age of RE
- I’m 16. What steps can I take to become financially independent?
- Is there anyone here with 10+ million that are DIY Indexers?
- A tale of two degree options and a very uncertain, young FIRE person
- When reaching Target FI (with continued plans to work), and stopping 401k contributions?
- Did you use a specific template or calculator to estimate cost of living after you FIRE?
- Moving to Switzerland from US, what to do with 401k and HSA
- Please help me find a list of three books to read this summer based on my goals
- Anyone else afraid of the market crashing?
| When to pivot from growth to income for FIRE? Posted: 29 May 2018 09:40 AM PDT One key element of FIRE I've been trying to wrap my head is, when it comes to retirement investing, when should one pivot from a growth focus to an income focus. For background, I'm 35 and currently have ~$1.5M invested, no kids but likely on the way down the line. Additionally I own my home and 4 rental properties outright. Income around $100K/yr as I've already begun backing away from work significantly although not entirely. My gut keeps telling me that, at the very least, I should start putting future investments into more income producing areas (dividend/equity funds, bonds etc) rather than continuing to put into growth/blended stocks and funds. I've been fairly aggressive financially so far, and it's paid off, so maybe now it's a conservative streak rearing its head trying to keep me from making mistakes I have thus far have avoided. Thoughts appreciated. [link] [comments]  | ||
| Daily FI discussion thread - May 29, 2018 Posted: 29 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]  | ||
| What popular FIRE advice do you disagree with? Posted: 29 May 2018 02:51 PM PDT Saw a similar thread in r/askreddit and wanted to pose the question to the FI community. Which piece of popular advice do disagree with? Unpopular perspectives that you agree with? [link] [comments]  | ||
| Posted: 29 May 2018 10:33 AM PDT What is the average age when taking about RE? What is the age you have in mind when you set your goals? [link] [comments]  | ||
| I’m 16. What steps can I take to become financially independent? Posted: 29 May 2018 03:19 PM PDT | ||
| Is there anyone here with 10+ million that are DIY Indexers? Posted: 29 May 2018 12:53 PM PDT At what point should you consider getting an Advisor? $20Million? $50 million? [link] [comments]  | ||
| A tale of two degree options and a very uncertain, young FIRE person Posted: 29 May 2018 09:34 AM PDT I work for a large public university on the East Coast. I run payroll for their international program overseas. While the gig is good (public university means I get state retirement and health benefits), and the HR/Payroll/Finance sector has been good to me, it's just doesn't really get my socks off. I graduated with a degree in Psychology, and like most Psych majors with just a Bachelors, I ended up in operations, instead of healthcare :( That being said, free classes are one of the perks of working for a university. I decided to go back to school for nursing (which, ironically, was my major before I switched to psych), with the ultimate goal of becoming a travel nurse. I'm completing some of the pre-reqs, like chem, bio, and human anatomy, which will take me at least 2.5 years, as I'm doing one class at a time. (I could take two at a time, but I also bartend/serve on the weekends and evenings to help pay off $14k in debt I've accrued over the last 2-3 years, which is a story for another day that I'm still salty about). After I'm done with the pre-reqs, my university offers two options: Option 1: A two-year program that you can pretty much take at your own pace. I would likely do it part-time and continue working in my current position with the university, but it would take me 6-7 years to complete the program (not including the pre-reqs I'm currently working on, so 8.5-9.5 years total). The benefit of Option 1 is that I wouldn't lose a year of salary and I wouldn't accrue any student loan debt. Option 2: A one-year intensive program built for people like me who already have a degree. I would quit my job and probably take out student loans. Over the next 2-3 years that I'm completing my pre-reqs, I should be able to pay off the debt that I currently have and save up a little to help with housing costs and such, but not enough to cover the entire program. The benefit of Option 2 is, obviously, it takes the least amount of time. Furthermore, travel nursing would be a huge jump in salary for me. I currently make $49.5k annually with good prospects for bonuses and raises. As a travel nurse, I would make anywhere between $80-100k a year, depending on the posts I take. I couldn't possibly make that jump in my current position with bonuses and raise. I'm leaning towards Option 2 because I just can't see myself at this desk job for nearly the next decade. So I guess my question is, will option 2 devastate my FIRE goals? Would the earlier jump in salary outweigh the burden of student loan debt? I know that in my current position, it would be difficult to max out my retirement accounts. But I could certainly do that on a travel nurse salary. I need advice, please and thanks, y'all! Side note: I'm 26, I have a lot of life left, but I'm not trying to delay my financial goals with this decision. Thanks! [link] [comments]  | ||
| When reaching Target FI (with continued plans to work), and stopping 401k contributions? Posted: 29 May 2018 07:45 AM PDT I'm currently 33, and my spouse is 32. Together we have saved $300K so far within our 401k accounts. Based on my spreadsheet, our target FI is when I turn 41 (8 years from now). At which point, we will have $1M saved within our 401k accounts. We'll probably continue working, but will have the comfort to know we can walk away from it if we chose to do so. However, I'm considering of stopping 401k contributions at that point, and with assuming an 8% CAGR until I turn 60, we will then have $4.9M (or $2.1M in Present Value) We do not currently have kids, but would hope to have some in the future. Our current annual expenses (with mortgage) is $55,200. My question is, is $4.9M (or $2.1M in Present Value) enough of a retirement nest egg to feel comfortable enough to stop contributions to 401k (and perhaps reallocate dollars to our non-retirement account)? We intend to maintain our current standard of living (which I would consider moderate), but want to make sure we have enough for the long retirement period and high costs of healthcare. Thanks in advance Reddit! [link] [comments]  | ||
| Did you use a specific template or calculator to estimate cost of living after you FIRE? Posted: 28 May 2018 09:23 PM PDT Or did you sit down and write out every cost you have now and adjust for future needs (ex. medical costs)? Not sure the best way to go about this. thanks! [link] [comments]  | ||
| Moving to Switzerland from US, what to do with 401k and HSA Posted: 28 May 2018 04:36 PM PDT Hey all, seeking some guidance on what I should do with my 401k and HSA funds as I am moving across the pond at the end of this year. Ill be staying with the same company I work for currently, however due to "too big to fail" they are setup like different business entities altogether. Its not a ton of money, maybe 10k or so, I dont want to get taxed on it but then again I dont really want to leave it sitting there wasting away when there is a good chance I wont be coming back to the US anytime soon. [link] [comments]  | ||
| Please help me find a list of three books to read this summer based on my goals Posted: 28 May 2018 06:47 PM PDT
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| Anyone else afraid of the market crashing? Posted: 28 May 2018 08:01 PM PDT Howdy -- I'm new to to this this r/ and FI/RE. Just finishing up JL Collins book, "Simple Wealth". It's in line with how I am as I live minimally and love to DIY most everything. Where I'm stuck is investing. I struggled with recovering from a very bad investment and a divorce. Thankfully, I now have cash in the bank but still have a bit 'o financial PTSD. I'm afraid of investing in Vanguard's Total Market because of anxiety that we are heading for a financial crash due to imprudent regulatory rollbacks. I'm not a financial type so appreciate insights. [link] [comments]  |
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