Financial Independence Last Career Day! |
- Last Career Day!
- Has it been a whole year? Yep. (or: an early retirement update)
- FI leap
- Daily FI discussion thread - June 01, 2018
- Weekly FI Frugal Friday thread - June 01, 2018
- Is it really worth it to spend your money on traveling when young instead of going to college or saving up for retirement?
- What are some lesser known pieces of investing or financial knowledge that are useful for FIRE?
- Fire Mom guilt
- Is It Never Enough? FI Looking Impossible with Current Projections
- Just graduated, income went up 10x, but feel like I have no purpose
- leaving a decent job to take time off for personal pursuits or travel?
- Is it better to be the land lord of many low value properties or a few high value properties?
- Crossroads in FIRE Goal
- Meetup
- Bizarre Family Budget Calculator Results (EPI)
- The Ponzi Factor
| Posted: 01 Jun 2018 10:36 AM PDT Well, my first post on this site, but I've been reading here for awhile, and on other boards for many years. It's finally the last day - I pushed it back a few weeks on client request to handle a large project point today, which is mostly complete now, and I'm finally calling it done. For background, I'm (very) late 30s, retiring from Engineering (mostly civil, finishing up doing construction/project management), have worked for the same firm in numerous roles (high-speed trains, roadway design, construction, expert witness, etc) for over 15 years now. No kids, married a few years ago, bought a condo in a HCOL city in 2006, but had a special offer that ended up more than covering the market crash losses, and could rent it out for more than my carrying costs if we decide on some longer-term travel. For references, we spend under $40k/year, and mostly it's been engineering type retirement planning - long slow push hard in the right direction. I've been saving around 50% of income for over a decade, tracking on a homemade spreadsheet for about 14 years. I never quite broke 6 figures in base salary, but with my hobby job and straight-time overtime added in, I probably made it over a couple of years recently. Heading back out to finish up and then to celebrate out with some coworkers, but wanted to share with the like-minded people here. A lot of unlucky things could have derailed it, but doing it also made me a lot more resilient to bad luck along the way and has given us a lot of options going forward. Good luck everyone, and fair winds!! [link] [comments]  |
| Has it been a whole year? Yep. (or: an early retirement update) Posted: 31 May 2018 05:00 PM PDT **BACKGROUND*\* **Introduction*\*: This post is the final monthly update in an early-retirement series. I will be posting twice yearly: once around June 6 (retirement anniversary) and once around January 1 (end of year finances). As these posts have become increasingly popular based on the number of views and comments, and as my desire to spend nearly an entire day on reddit has significantly waned, my responses might be limited. Please check comments and posts from previous posts to find answers to potential questions. I genuinely appreciate all of the positive comments, even though I no longer take the time to say so individually. **Model*\*: I wish to maintain a portfolio that began in June 2017 at $1,025,772. My max goal withdrawal rate is 3% of each year's starting balance, provided that the portfolio remains above $1M. 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 the holy Trinity method, but consider these three factors that give us flexibility: a 3% withdrawal rate is below the 100% historically safe mark of 3.2% for fifty-year portfolio survival, the extended bull market peaked us nearly 20% above the original target amount (meaning that $30k annually is actually 2.5% instead of 3% if restarting from the peak); and our actual withdrawal rate was averaging less than 2% of the original portfolio balance (due to earning additional income) when we received an unexpected $30k windfall (meaning that our current withdrawal rate is actually negative). The budgeted withdrawal amount is $2773 per month for 2018. In 2017, it was $2564 ($2618 adjusted for inflation). **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 (1997-2001) and a doctorate (2001-2005) before joining the workforce for nearly twelve years (2005-2017, 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%. **Finances*\*: 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. **FINAL MONTHLY UPDATE*\* **Spending*\*: Living expenses for the month came to $1999. This is $774 under the 2018 monthly targeted amount of $2773. Our spending is 27.9% under budget for the month, 8.1% over for the year, and 14.9% over since retirement. We generated $1039 of income this month from my wife wanting to work and some of my old book royalties. Our investment withdrawal was $960 this month, thus our pro-rated, annually-adjusted withdrawal rate is 1.04% for the month, -5.16% for the year, and -0.76% since retirement. Without the additional income stream, our pro-rated, annually-adjusted withdrawal rate would have been 2.16% for the month, 3.24% for the year, and 3.45% since retirement. **Investments*\*: The portfolio went from $1,130,151 to $1,147,124 (a 1.50% increase for the month), which went down to a new total of (drum-roll) $1,146,164 after cashing the checks and paying the bills. This is a 11.73% increase from the original starting balance of $1,025,772. Since retirement, capital income from the investment portfolio has produced the equivalent of a full-time employee generating $53.14/hr of labor income. To sustain the original portfolio balance, $17.59/hr is the pace needed for COL based on spending rate; $-4.75/hr is the pace needed for COL based on withdrawal rate. Dividends included, VTSAX (61% AA) went up 2.72% this month (2.45% up for 2018); VFWAX (20% AA) went down 1.18% (1.39% down for 2018); VWLUX (19% AA) went up 1.17% (down 0.52% for 2018). **Reflections*\*: This was our lowest spending month thus far. No significant purchases or expenses to speak of. The market recouped some of its losses from its February jitters. I had considered increasing my international exposure but am currently glad that I refrained. **Experiences*\*: I won the very non-prestigious Strolling Jim Marathon on May 5 by twenty-three minutes. I pre-paid for this one as a backup before I won the state championship in April. I didn't want to show up. I didn't even plan on finishing the entire course to be honest, but I made a deal with myself to just treat it like a moderate effort training run. I was nowhere near 100%, but I broke the course record by ten minutes. I watched many more movies (about forty, mostly silent). I got lucky and bowled consecutive 170s on my first day back in eighteen months. I baked for the first time in my life (gingerbread cookies). I read a few books. I kayaked for the first time this year. I have averaged 63 minutes per day of physical activity over the past six weeks (running/swimming/cycling/weighlifting) with at least thirty minutes every single day. Running in the heat sucks. **Upcoming*\*: My time at the museum has run its course. I no longer find it stimulating. I plan to spend time volunteering as a running coach in some local clubs and as a pacer in some local races. I'd like to maintain my current lifestyle of more reading, kayaking, bowling, running, cycling, swimming, and watching classic films. I will try my best to do whatever the fuck I want. **YEAR ONE*\* **Portfolio*\*: Again, the portfolio went from $1,025,772 to $1,146,164 (an 11.73% increase) after expenses. Living expenses for the year came to $36,582. This is $4768 (14.9%) over the first year targeted amount of $31,814. We generated $46,452 of income from my wife wanting to work, my old book royalties, an unexpected tax refund, and an unexpected inheritance. Our investment withdrawal was -$9870 this year (a $9870 deposit), thus our withdrawal rate was –0.76%. Without the additional income stream, our withdrawal rate would have been 3.45%. Without the tax refund, inheritance, small splurge as a direct result of the inheritance, and the delayed construction of the cabin (a measure that I consider the best indicator going forward), our withdrawal rate would have been 2.1% (3.5% with no supplemental income under this same scenario. In short, I have finally arrived at the conclusion that our COL creates an effective withdrawal rate of 2%, but it would be 3.5% without additional income. **Accomplishments*\*: I consider these the highlights of my first year away from work: broke three hours in a marathon, broke three hours in a marathon for a second time (including a course record and state championship victory), won a second marathon by setting another course record, set a personal record in the half marathon, set a personal record in the 1500m swim, built a cabin, saw a total solar eclipse, took a two week driving vacation, read the three longest books of my life, got around to watching every movie we own, got around to playing every video game we own, got around to listening to every album we own, wrote in my daily journal every single day without exception, tackled all of my CE requirements, became a volunteer tour guide and paleontologist assistant at the natural history museum, created an astronomy timeline exhibit for the museum, made plans to become a volunteer running coach, watched Game of Thrones, re-watched Parks and Recreation, painted for the first time, played a round of golf for the first time, grilled out for the first time, held a drunken scumbag at gunpoint for the first time, kayaked for the first time, went metal detecting for the first time, mastered the Rubik's cube, mapped our property in detail, planted trees, fixed the driveway, made a creek in our woods, picked up a lot of litter, finished Final Fantasy XV, made monthly reddit posts on FI, and completed a 100-point gratuity list. **Greater Amount*\*: What have I done more of since leaving work? Running (about 1500 miles), swimming (now twice weekly), weightlifting (now twice weekly), volunteering (almost weekly), hiking (several treks), watching movies, solving puzzles, visiting my parents, spending time with my wife, housework, yardwork, cooking, video gaming, reading, studying astronomy, studying paleontology, napping, and doing whatever the fuck I want. **Same Amount*\*: What have I done about the same amount of since leaving work? Cycling (kept focus on running), bowling (to favor a running injury), visiting friends (who are no less busy), listening to SACDs (distracted by internet), and watching television (trying to avoid too much). **Little Progress*\*: What have I failed to do much of since leaving work? Learning to play an instrument (lack of talent), target shooting (lack of interest), improving my Spanish and Japanese (got lazy), being able to bench press my body weight (tough hill to climb), helping fight the opiate epidemic (burned out), going to yard sales (lost interest), reducing internet time (too much political interest), writing a sci-fi novel (still in planning stages), deconverting religious adherents (taking a break), stargazing (often monotonous), cleaning up our woods (needs it), studying cartography (due to astronomy/paleontology), painting (only twice), kayaking (only twice), metal detecting (only twice), and camping (only once). **The Future*\*: This is the final monthly update. See you around Jan 1. You will be okay without me. [link] [comments]  |
| Posted: 01 Jun 2018 09:09 AM PDT The stash is big enough for FI. So, on this first day of June, 2018, I am looking for work that is 25-30% BELOW my current salary. Currently, in a very toxic environment managing (some) deadbeats below and "managing" ALL deadbeats above. As many on this sub have commented, FI does not have to be binary: work or RE. You can do something else for less money and way less stress. Simple concept but very difficult to absorb and digest given our conditioned thinking... [link] [comments]  |
| Daily FI discussion thread - June 01, 2018 Posted: 01 Jun 2018 04:09 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]  |
| Weekly FI Frugal Friday thread - June 01, 2018 Posted: 01 Jun 2018 04:10 AM PDT Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! 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]  |
| Posted: 01 Jun 2018 06:42 AM PDT This seems to be the trend among people in their 20s. I've been saving money to buy a property but sometimes I wonder if I should instead be traveling the world and enjoying life to the fullest or getting a college degree or saving to retire early. [link] [comments]  |
| What are some lesser known pieces of investing or financial knowledge that are useful for FIRE? Posted: 01 Jun 2018 03:16 PM PDT Most people here know about foundational stuff like budgeting, basic savings and withdrawal rates, lazy portfolios, expense ratios, emergency funds in high interest savings accounts, the order of accounts to invest in (e.g., max company 401k match before putting anything in Roth IRA), and so on. What's the next tier of useful finance and investing knowledge as it relates to FIRE? For example, here's something I recently learned: Bond and REIT index funds are tax inefficient, because they frequently send out payments (interest payments and dividends, respectively) that cannot be counted as capital gains and are instead taxed as regular income. So if you're doing an allocation like Rick Ferri's Core Four you should have as much of the bond and REIT portions of your overall portfolio in tax advantaged accounts as possible. I didn't learn this straight off the bat from discussions here or reviews of various lazy portfolios, and had to go one level further in researching to discover that. Its a simple concept, and only takes a few extra minutes per rebalancing, but that little tidbit of knowledge is probably worth at least tens of thousands of dollars over the course of my lifetime. What are other bits of lesser known financial knowledge are like this? [link] [comments]  |
| Posted: 31 May 2018 07:06 PM PDT So this is probably more of a rambling of my thoughts rather than a specific question - but mostly curious to see if others are/have been in a similar situation. And before I start I want to acknowledge that I realize that I'm in a very lucky situation and this is a very first world problem, so I'm not looking for sympathy, but rather just advice. I'm a 33y old mom of almost 2 kids (a 2 year old and a baby due in 2 months). And everyday I face mom guilt. I work in tech, make roughly 300K a year, have a flexible schedule, and reasonable hours. I'm home by 5pm most days and compared to most I get to spend my mornings, evenings and weekends (roughly 4 hours a week day) with my kids. But it doesn't feel like enough. My son is in daycare all day, and he seems happy, but I wonder everyday if he's too young for that kind of stressful/busy day so young. I get 6 months of maternity leave that I'll spend with the baby, but will have to leave her all day too when I return back to work. We live in the Bay Area and have no family near by. Everyday I struggle with should I quit and spend more time with my kids or should I take advantage of this high paying, comfortable job that I really enjoy. Would my kids be better off if I spent more time with them now or should I focus on creating a net worth that gives them every opportunity they want in the future? Part time in my job is not an option. Leaving work for a few years and coming back is not an option (ageism is real). Would I be a better role model for my kids if the see me working on really exciting and ground breaking projects - things I'm really proud of, or would my time spent with them be more beneficial? Also things like going to the gym have been put on hold, because every moment I'm not working I feel guilty not being with my kids. We also outsource everything - cooking, cleaning - so when we are home, we are 100% focused on the kids. My husband makes good money and has a similar schedule. He doesn't feel this guilt at all and love our setup. We have a net worth of 1.2M. So staying at this job is both about the money and also about my identity and impact in this world. Working for the next 5 years could potentially bring our NW up to 3M, or maybe more. How do you all balance your self identity, being productive, building a strong financial foundation for your family's future vs being present and spending time with them now when they are young? [link] [comments]  |
| Is It Never Enough? FI Looking Impossible with Current Projections Posted: 01 Jun 2018 12:16 PM PDT Hello Reddit, I have been a long time lurker and only now decided to create an account to post something out of frustration. I am a 25 year-old male living in a city two hours away from Toronto, Canada. I have been living alone since I was 17 without any external support, I have worked every survival job you can think of from serving food to retail. I have been extremely interested in being financially independent for as long as I can remember and decided that if I want to get there, I need to start a better career. I picked healthcare because I have always been interested. I went to a great university in Canada and completed a Bachelor in Biology and a Clinical Masters and became a therapist. I graduated last year and now I am earning $6,600/month, after ridiculous Canadian income tax deductions, Extended health care benefits deductions, CPP, Employment insurance...etc, I end up with about $4400/month to pay for rent, car payments, food, hydro, heat, internet, phone, gas, and $500 monthly student debt repayment (over 9 years!). I end up with very little amount of money to save. My job prospect is not great to be honest because you are likely to cap out at $7,000-$7,500 due to new grads always willing to do it for cheaper. I have noticed that through out the years the more money I make, the more my expenses have become. I have worked so hard for the last 6 years to increase my income every year by getting more jobs and upgrading my education yet I am always left with nearly the same amount of savings per month. I am not talking about unnecessary "fun or luxurious" expenses, I am talking about things like: - Higher paying job = Having to move to a more expensive city and eat out more often because my job is so report intensive that I sometimes don't have enough time to cook a meal. - Higher paying career = Now having to pay for things like fax bill, upgraded phone bill due to the need of extensive data on the road, gas bills because I have to drive to every client's house, and will likely need a car every 4 years based on the amount of KMs I put. - Better education = student debt (even though I worked while at school to support myself partially). TLDR: I remember a time when I was living with a bunch of broke roommates working at Food Basics with very little expenses and saving just as much as my "Professional Job" where everyone calls me Mr. Y___ and pretends that I am important. It seems almost that the more money you make the more your expenses increase (almost linearly). I am starting to feel that the only way to become wealthy or independently comfortable is if you luck out an investment or business deal and the approach of living a super restricted lifestyle will never get you wealthy, if anything it may get you a mediocre amount of saving with a crappy quality of life. Thoughts? [link] [comments]  |
| Just graduated, income went up 10x, but feel like I have no purpose Posted: 01 Jun 2018 10:53 AM PDT TL;DR: always thought I wanted to be a teacher and was OK with the low wages for the rest of my life. Realized teaching isn't for me, now am at a tech job making 10x what I made a year ago as a grad student, but it is completely unfulfilling. Halp. For most of my life I thought I wanted to be a teacher. Learning was something I loved and always liked teaching those things to others. I would tutor my friends through high school. When I got to college I thought maybe I would be a professor because the content was more interesting and the students werent as rude. Ive always been a good student and got into a top-5 PhD program in math. The first year or two was exceptionally hard and I made no progress. Finally things started coming around and things staring moving along. Somewhere around this time I was able to look around at the professors around me and realized how much BS they have to handle. So maybe that wasn't for me. My fourth year I took a teaching assistant job at a local high school part time (my advisor is great and she was happy to let me do this). It was hell, worse than I remembered. So at the start of my sixth (and final) year I started applying to industry jobs. After a bunch of applications, and enough interviews, I got four offers, and played them off each other. One of them at AppAmaGooBookSoft, which I accepted. My compensation is nearly 10x what I was making as a PhD student and I got my first paycheck last week with my signing bonus for more than I made in 2017. Which is great, you know. My parents tell all their friends how successful their wonderful daughter is. But my job feels like I have no purpose. I am helping build models to sell people more things. Sure technically it is hard. But I feel like I am actively contributing to the things I dont like about society. But leaving is crazy too. If I work 5 years I will be able to save 1MM be FI/RE and move back to somewhere cheaper and tutor or teach a gifted track at school volunteering wherever I would want to go and could avoid the BS that comes with a real job like handling parents and students who dont want to be there (high school) or grant writing and committees (university). Thoughts? Advice? I cant talk about this with my group of friends (Ive tried they don't understand). [link] [comments]  |
| leaving a decent job to take time off for personal pursuits or travel? Posted: 31 May 2018 09:34 PM PDT Wife and I are both mid-30s and have seriously considered leaving our current career jobs to take a break period, at least 6-12 months. The idea was for travel and focus on personal interests but also likely to volunteer or be productive in our own personal development and pursuits. I work for a major innovative tech giant [you would know the name] and she currently works part time and does fairly well. While we do plan to do things like travel for some of this time, I also plan to stay current by taking on at least one small startup project mostly remote and part-time. On top of that I have considered finding a more formal part time/remote position or at the very least some freelance work with my technical skills. But it would be a departure from the normal 40-hour corporate work environment for both of us. It also would mean, for me, I would have to leave a decent 6 figure job without having a similar one lined up. We are mostly frugal people and the only debt we have right now is a mortgage on a house that has solid equity and is in a very rent-able location. We are not currently millionaires but I estimate we have enough short term cash/savings to easily last at least 2 years without having to touch our longer term or retirement accounts - and that assumes we literally make no income during that period. We also have no children, good credit ratings, and thankfully in okay health right now. What are your thoughts on this? I don't think I'm crazy for thinking about this, or am I? [link] [comments]  |
| Is it better to be the land lord of many low value properties or a few high value properties? Posted: 31 May 2018 04:53 PM PDT Is there a difference between being the land lord of many low value properties or a few high value properties? What are the advantages and risks of each? The end goal is of course developing enough wealth to eventual retire. [link] [comments]  |
| Posted: 01 Jun 2018 07:43 AM PDT My wife and I have found ourselves at a bit of a crossroads in our FIRE goal and are facing a very difficult decision. A family member is selling their house to downsize in the town we want to settle in. The house would sell for the high 700ks in our market (which is hot right now). However, because we are family and weve all discussed for a few years the idea of us buying the house from them they have agreed to knock all the fees and commission costs that they'd have to pay selling outside of family off the price of the house. I believe we are also being given a bit of a discount on top of that. We would be able to get the house for 710k (giving us a decent amount of equity in the house from the get go). The house itself is great. The schools are top notch, it has a big yard, and plenty of space for our growing family. We know it has been meticulously maintained, and it's on a quiet street near a lot of family and friends. My wife and I make a combined 260k a year, and would be able to put 100k down on the house. Speaking with the mortgage broker, we wouldn't be required to pay PMI because of the size of the mortgage. However, even without the PMI the monthly mortgage will be a significant portion of our after tax income (we both max our 401ks at 18.5k). We have paid 120k in my student loans in in the last 4.5 years, and have a bit under 50k to go. FIRE has been a significant goal for both of us since we discovered the concept a few years ago, but now the possibility of us buying this house has me stuck in a rut. The house would be excellent to raise our family in and we are getting it at a good price with instant equity, but at the same time it feels like any chance for FIRE is severely compromised. Does anyone have any thoughts or advice in weighing the options? [link] [comments]  |
| Posted: 01 Jun 2018 09:57 AM PDT I searched to see how much this topic comes up, but it doesn't seem particularly frequent and is almost always focused on a single event. I find it incredibly difficult to meet people with similar life goals as me, or even meeting people that have considered the same sorts of things that I have. This is especially true when it comes to money. I've looked to go to meetups; however, they are always too far away to make possible with my work schedule. I guess with that as background, how does everyone meet like-minded people (yes, I've heard the "do what you like and people will follow you" advice, except for an introvert it's typically not that useful of a recommendation)? Has a calendar of meetup events been put up in this sub? Would it even be useful? Would others like to see more meetups around the country at various times throughout the year (perhaps not as large gatherings, but more local meetups)? [link] [comments]  |
| Bizarre Family Budget Calculator Results (EPI) Posted: 31 May 2018 04:33 PM PDT What do y'all think about this? https://www.epi.org/resources/budget/ I ran my numbers for a single person in my own metro area and was completely baffled. A "modest yet adequate standard of living" somehow includes paying twice as much for food, eight (!!) times as much for transportation, and twice as much for other necessities. My life has been pretty luxurious: eating out a few times a month (not fast food), international travel once a year, additional inter-state travel, a smartphone with data (hence Internet), a nice little personal library, nice business casual wardrobe, a low mileage car...etc. I can't figure out what necessities a single person in my town is spending all of their money on that I haven't needed or even wanted unless they're literally eating out for at least one meal every day and have a chauffeur to drive them the (no more than) 20 miles to work and back every day. And these things are somehow considered part of a modest but adequate lifestyle. [link] [comments]  |
| Posted: 01 Jun 2018 06:16 AM PDT So there is a book by this guy that set off some alarms in my head and I wanted to gauge the community's reaction. Here is a brief intro: "Fundamental ideas are easy to understand and influence many beliefs. The legitimacy of the stock market rests on two fundamental assumptions. One is the idea that stocks are "equity" instruments that represent ownership. The other is the perception that stocks are "positive-sum" investment instruments, and investors win more than they lose. However, these assumptions have never been properly investigated, and it can be shown that neither are true. The Ponzi Factor does not criticize the investment system. It proves why the features of the current stock market system meet the definition of a Ponzi scheme, and explains why even in the absence of insider trading, high-frequency trading, and highly improbable market crashes; the stock market is simply not designed for investors to prosper. This is not just another story that will disappear after another bubble bursts. It is an idea that will remain relevant for as long as the stock market exists." I first heard about this guy in a political show and apparently he was banned from Quora because of his unpopular views. I know the FIRE community is open-minded and perceptive to new ideas and new ways to look at things. I know the discussions will lean towards one way (cause let's face it, this book goes against the very fiber of what makes FIRE a reality) but still want to hear your opinions regardless. Edit -> Full disclosure: I don't agree with the views of the Ponzi Factor. That being said, if I know I am in the right, I don't mind getting my views challenged because I know that I will win the overall debate. Being questioned and having answers for said questions makes your position stronger, not weaker. [link] [comments]  |
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