Financial Independence Charles Schwab survey: The average American needs $1.4 million to feel financially comfortable, $2.4 million to feel wealthy |
- Charles Schwab survey: The average American needs $1.4 million to feel financially comfortable, $2.4 million to feel wealthy
- Daily FI discussion thread - November 07, 2018
- FI Podcasts
- Money guilt. I cannot handle money guilt.
- Who else is working towards FI in the SF Bay area
- FIRE with chronic diseases
- Does anyone invest in individual stocks?
- Weekly Self-Promotion Thread - November 07, 2018
- Pay off mortgage or taxable account?
- Any experience paying uninsured rates at the doctor while on a high deductible plan?
- Is the cost of living numbers from numbeo accurate?
- For FIRE, is it better to have a paid off condo or just have in stock market?
- Does anyone worry about how Climate Change will affect their FIRE?
- Leveraging a LIRP with FIRE
| Posted: 07 Nov 2018 11:28 AM PST Came across this article. An interesting look across generational viewpoints and what a 'rich life' constitutes. [link] [comments]  |
| Daily FI discussion thread - November 07, 2018 Posted: 07 Nov 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]  |
| Posted: 07 Nov 2018 02:21 PM PST Any great FI podcasts out there you all would recommend? TIA [link] [comments]  |
| Money guilt. I cannot handle money guilt. Posted: 07 Nov 2018 12:42 PM PST I am posting to this sub because I read it often and I'm sure many of you feel the same. This is probably in everyone's path to FI/RE. I'm in a really comfortable financial position. I save around 50% of my income easily. Yet when I buy something, I can never allow myself to buy a "nicer" thing. The subconscious thought in my head is "Even though I'd really like to have that jacket, who am I to do so, if that 40-year old father of 3 who's been busting his ass for 20 years working 9-5 can barely afford to pay rent?" Maybe the difference is that I work hard, or maybe the difference is just in the circumstances in which we were born. We will never know. It is handy for saving up money, right. But I end up living a live that is way under what living-below-my-means would be. I want a better life. I can afford it. But I just don't good about having it. Does any of you feel the same? Just a side note: this has nothing to do with my political opinions. This is in fact somewhat contrary to what I stand by politically. [link] [comments]  |
| Who else is working towards FI in the SF Bay area Posted: 06 Nov 2018 10:37 PM PST I am 25 yo working first post-college job. Sharing a room, don't own a car, rarely go out to bars/restaurants... Saving as much as 50% some months. Feeling very alone in my journey and just want to meet like-minded people to share successes and tips, especially since we live in such an expensive place. [link] [comments]  |
| Posted: 07 Nov 2018 10:51 AM PST Currently, 35% of my gross salary is going into roth retirement funds (not including my company match and pension). All of it in index funds, so with a 6% annual growth in the market and with a continued savings method i should have around $1 million dollars (todays money) in the bank around age 42 which i could easily live off of with the 4% rule if i really wanted to (as long as i devert some of the savings into non- retirment funds). I have two chronic diseases: T1 diabetes and arthritis. One of which i need medication or i will die, the other i need medication or i will be in debilitating pain. If i work till 55 at my current company, they provide health insurance until medicare kicks in. My question is, is there any way ppl with chronic diseases have figured out how to retire early with FIRE? Can you just drop onto medicaid and feel like a drain on the social net (no idea how that works)? Dont think i could possibly afford to get my own personal insurance or pay out of pocket. Maybe i could work part time somewhere for benefits? [link] [comments]  |
| Does anyone invest in individual stocks? Posted: 07 Nov 2018 02:32 PM PST It seems this commmunity is.hardcore indexing. I was wondering if anyone traded and individual stocks and what your rationale was. I was thinking of leaving ten percent or so to speculate but in the end you're not going to move the needle much with that amount. Dividend growth investing is another option but it's hard to justify as better than indexing. [link] [comments]  |
| Weekly Self-Promotion Thread - November 07, 2018 Posted: 07 Nov 2018 03:08 AM PST Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread. Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely. Link-only posts will be removed. Put some effort into it. [link] [comments]  |
| Pay off mortgage or taxable account? Posted: 07 Nov 2018 01:01 PM PST Not sure if this belongs in /personalfinance or not, but it's relatable to my FIRE journey, so I figured I would give it a shot. We have $240k left on our mortgage after purchasing a new house and putting 50% down on it. We have a 10-year ARM, which I know isn't the best vehicle, but unless something super weird happens, that mortgage could be gone in 2 years if we got aggressive with it. Here's the question: The interest rate on the mortgage is fixed for 10 years @ 4%. Better to pay the mortgage off ASAP? Or put the money into a taxable account for 10 years and pay it off IF the interest rate goes up in 2028? It's likely splitting hairs. I did some research and the worst 10 year span still had positive returns (but not 4% positive) and the best 10 year span had enormous returns in the double digits. What would you do? [link] [comments]  |
| Any experience paying uninsured rates at the doctor while on a high deductible plan? Posted: 07 Nov 2018 11:09 AM PST Does anyone with a high deductible insurance plan have any experience not providing insurance information to a doctor so you can pay their uninsured rates? My 2 doctors are out of network for my insurance next year (insurance co they lowered their premiums by significantly reducing the size of their network). When I called to ask my doctors for their out-of-network billing price, it was extremely high! Then they said that I could not give them my insurance info and pay cash, and I'll pay a much lower rate since they won't have to deal with billing insurance. Based on my typical healthcare usage, it looks like I'll actually save some money paying the lower premiums and paying the uninsured patient rates (and not have to find a new doctor really far away). The downside is that these payments won't count toward my deductible; but I've never even come close to hitting my deductible anyway. So before I go down this path, I'd love to hear from someone else who has done this to make sure I'm not missing anything... [link] [comments]  |
| Is the cost of living numbers from numbeo accurate? Posted: 07 Nov 2018 04:02 AM PST Hi [link] [comments]  |
| For FIRE, is it better to have a paid off condo or just have in stock market? Posted: 07 Nov 2018 08:11 AM PST Right now I rent. I was thinking about just taking $250k of my holdings, buy a condo outright to save on rent. Approximately, it would save $1000/month, but I'd still need to pay aprox $500-600 in rent. OTOH, if I took that exact same $250k, did indexing and SWR of 4%, that would be $830/month. So condo "generates" me more money and it's also guaranteed... Am I looking at this right? [link] [comments]  |
| Does anyone worry about how Climate Change will affect their FIRE? Posted: 07 Nov 2018 02:37 AM PST I know it's a bit selfish, but does anyone worry about how if climate change becomes worse and worse, it could affect their finances and ability to achieve FIRE? [link] [comments]  |
| Posted: 07 Nov 2018 07:39 AM PST Has anybody looked into leveraging a LIRP as part of their retirement planning? [link] [comments]  |
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