Financial Independence Dating and FI/RE |
- Dating and FI/RE
- Megabackdoor Roth IRA impacted by new Fidelity fee?
- Daily FI discussion thread - November 26, 2018
- FIRE with a large family
- Weekly FI Monday Milestone thread - November 26, 2018
- Question for those who have FIREd overseas...If you came into an insane windfall, would you go home?
- Am I missing anything in my FIRE plan?
- Vocation vs. Job
- Any advice on how to do this for parents?
| Posted: 26 Nov 2018 09:09 AM PST I've been dating a girl for about a year, and she recently confided in me that although our dates are always fun and she thinks I'm quite charming, she worries that I can't always afford them. I'm actually quite successful and have a relatively high net worth, but she said she's noticed me carefully consider purchases (even smaller ones) and so on. I am definitely quite frugal by nature, I grew up poor - my family doesn't have any money and I worked menial jobs to pay my way through college. Those frugal habits are hard to shake, although they've served me well for my FI/RE ambitions 😁 I told her not to worry and that I'm quite comfortable, but I'm worried she will feel deceived if she sees the actual figures. WDYT I should do? [link] [comments]  |
| Megabackdoor Roth IRA impacted by new Fidelity fee? Posted: 26 Nov 2018 11:37 AM PST I recently got a Fidelity email that says "Effective January 1, 2019, Participants will be assessed a $25 fee for each in-service withdrawal (other than a hardship withdrawal) and for each time a distribution of the Participant's entire account balance is processed." Has anyone else seen this? Does that mean rolling from after tax 401k to a Roth IRA is affected now? Edit: Seems like this is on a per company 401k basis so check your email to see if this is applicable to you. I didn't even notice the email come through until someone mentioned it. [link] [comments]  |
| Daily FI discussion thread - November 26, 2018 Posted: 26 Nov 2018 03:09 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: 26 Nov 2018 01:42 PM PST Seems like most people here are child free or have 1-2 kids. We are about to have 7. We live in a pretty LCOL area, bought our dream house, and the more I think about it the more I want to do this. Is it possible with a large family? We are currently a 6 figure single income household and will be increasing our income once my husband graduates by about 60k. (No loans for him, he's a disabled vet) I can pay off all my debt, minus the house, student loans, and a car we're going to need, in March 2019. I can get my emergency fund funded mostly next year as well. Can anyone point me to a good book or blog that doesn't expect no kids? Is it better to start saving more (I put 5% into my Roth, employer matched, already. Roth because we don't have a tax debt so no tax savings in a 401k right now) or get debt paid first? With debt paid off, I can easily put 15% additional into savings without affecting our lifestyle but I also know I can cut expenses by quite a bit. In 2020 when my husband goes to work even after childcare we can put half his income into our funds. So can it be done? Where is my best child friendly guide? [link] [comments]  |
| Weekly FI Monday Milestone thread - November 26, 2018 Posted: 26 Nov 2018 03:09 AM PST Please use this thread to post your milestones, humblebrags and status updates 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! 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 for those who have FIREd overseas...If you came into an insane windfall, would you go home? Posted: 26 Nov 2018 02:51 PM PST I'm not retired...far from it...but I live overseas and plan to for the rest of my life. I love living overseas and really enjoy the adventure of it all but I can't help but wonder what I'd do if I ever hit the Powerball (I usually wager $5 or so every time I visit home). Part of me could see returning to the United States if I had millions of dollars in the bank and could travel whenever I felt like it. Another part of me sees moving to a totally different but developed country, perhaps Spain or Greece. I don't live overseas solely for the low cost of living but I can't deny that it's certainly a huge benefit - and the cost of living for the lifestyle I'd want to have were I to return to the USA is certainly a big part of why zero of our plans point in that direction - unless this lottery business comes through. I'm just curious if others feel similar...that they're totally happy overseas but would likely move home in the event that they became a multi-millionaire. [link] [comments]  |
| Am I missing anything in my FIRE plan? Posted: 26 Nov 2018 02:37 PM PST Newer to this, want to retire comfortably by 45, hoping to be able to live off 50k annually, with mortgage paid off. Right now we are maxing out our Roths, only debt is 330k mortgage. Plan to start making double payments on that next summer to pay it off quicker. Any awesome tips or tricks I am missing out on, or something I may be overlooking. Currently making 150k per year, age 30, 3 kids. How much of my income should i be trying to put away and where is the best place to put it if we are already maxing out the Roth? [link] [comments]  |
| Posted: 26 Nov 2018 11:29 AM PST I am fortunate enough to earn money from something I consider a vocation, not a job. I did it for years before I earned a penny, continued doing it when it was just fun money, and through hard work and a little luck it turned into lucrative full-time work about eight years ago, and it has been my source of income ever since. It has done well enough, and I'm frugal enough. that I've got enough money saved up to never work again if I want to. But it's not a job, and I don't want to quit. That doesn't mean it's always fun. In fact, on a daily basis, it's a headache, and more satisfying after having done it than in the doing, if that makes sense. I'm going through some burnout now, and struggling to maintain forward momentum. But it's not something you can just stop for a year and then pick up where you left off. I wouldn't be back to step one, but I'd be set back by many years. What would you do in my situation to find your mojo again? [link] [comments]  |
| Any advice on how to do this for parents? Posted: 26 Nov 2018 10:13 AM PST Not full out FIRE but basically I want to help my parents invest and withdraw as if FIREd. They aren't too comfortable with the markets and investing in general, but I am. What I might be able to align on is they give me $X, I invest it for them and give them $Y guaranteed. I would also just give them anything on top, it will remain their money essentially. What I would want to do is set up a bond tent to avoid sequence of returns, maybe do 3.5% for the first 2-3 years just to be safe and then hike them up to 4%. Adjust that over time based on how things go. Any advice on this? Taxes, whose name these all should be in, best ways to withdraw / structure / guarantee. I'm not looking to make anything here, but I'm willing to basically underwrite them a guarantee at 3.5-4.0% per year worst case. I'm in Canada btw. I get the basics if I were to do things for myself, doing it for someone else seems more complicated. [link] [comments]  |
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