Financial Independence PBS did a feature on FIRE in which many of its tenets were well articulated and pushback addressed |
- PBS did a feature on FIRE in which many of its tenets were well articulated and pushback addressed
- 401K and IRA Contribution Limits Increased for 2019
- You are all doing a great job!
- It's almost always better to invest as opposed to paying down a mortgage
- Daily FI discussion thread - November 01, 2018
- BBC – "FIRE: The movement to live frugally and retire decades early"
- Planning for FIRE while overseas?
- HSA ERISA questions
- What are the best platforms to hire a virtual assistant? I need a VA for social media management, marketing (social media and email), and website management. I own a women’s clothing boutique selling only Spring and Summer fashion all year around. Thank you!!
- Paying off student loans or investing more into 401k?
- Is there a resource to find parameters of where to FIRE given future climate change?
- feeling lonely on my FIRE journey
| PBS did a feature on FIRE in which many of its tenets were well articulated and pushback addressed Posted: 01 Nov 2018 06:52 AM PDT https://www.youtube.com/watch?v=RyF40JydVNU&index=73&list=WL&t=0s This video. It includes mr money mustache himself [link] [comments]  |
| 401K and IRA Contribution Limits Increased for 2019 Posted: 01 Nov 2018 08:38 AM PDT The Internal Revenue Service on Thursday unveiled the cost-of-living adjustments for pension plans and other retirement items for the 2019 tax year, including the first increase to the contribution limit for the Individual Retirement Arrangement in six years. The limit on annual contributions to an IRA has increased to $6,000 from $5,500 for the 2019 tax year, while the limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan is increased from $18,500 to $19,000. [link] [comments]  |
| You are all doing a great job! Posted: 01 Nov 2018 12:23 PM PDT Work has been pretty terrible today, but instead of sulking in anger and frustration I want to instead take a minute to try to convert that into positivity. I am off to a good start in my FI journey, although with many years left to go. But for those of you who are struggling -- maybe your finances are a wreck, in debt, whatever -- just remember that by starting down this path you are already positioning yourself to take control of your financial freedom. You may not yet have wealth in dollars, but you can have wealth in attitude and mindset, and that is something that money can't buy. And having FI as our ultimate goal doesn't mean we can't still enjoy our lives. Once you have your basics down, don't be afraid to spend a bit on yourself every now and then. Keep up the good work everyone. Thanks for all your contributions to the community, and remember that as long as you stay on the straight and narrow, it's only a matter of time until you succeed. And whatever struggles you encounter on the way will serve to sweeten the experience of reaching the destination. [link] [comments]  |
| It's almost always better to invest as opposed to paying down a mortgage Posted: 01 Nov 2018 12:55 PM PDT TL/DR I believe that, in most cases, a rational investor with a sufficiently long term view - say greater than 10 years - is better off carrying a home mortgage and investing the difference in a broad index fund.Details Your goal is to convince me there are reasonable scenarios where it is better to pay down or avoid a mortgage. I will use hard simulation data to support or disprove the hypothesis. If you have a new scenario, I can run it or I can try to code the simulator to support it - if possible. Obviously, risk is an important consideration. To reduce the impact of risk, I am limiting bonds to 1 year US treasuries and limiting stocks to the S&P 500. The simulator compares paying off a mortgage/paying down a mortgage vs investing in the S&P 500. The C# code for this simulator is on GitHub. There are no secrets here. The data and the simulator itself are public knowledge. The simulator uses actual historical market data for the S&P 500 (price and dividend), 1 year US treasuries, and the average monthly mortgage interest rate. The simulation runs starting each month from April 1972 until September 2013. Buying/selling is done purely as needed (spot) with no attempt to guess the market. A small amount of cash is maintained and the remainder of the money is either invested in 1 year treasuries or in the S&P 500. The stock/bond mix is a parameter of the simulation. The simulation makes attempts to include taxation. The simulation treats bond buying and selling in a very crude matter and does not include transaction fees or discounts. Essentially, this means all simulation can invest any funds at the 1 year US treasury rate. Stock buying and selling does not have transaction fees (yet). It is likely there are still bugs in the simulator. No program is without bugs. If you find problems, I will try to fix them and report data which is significantly mis-representative. The simulator has a number of options and you can vary them within reason. In all cases, the simulation makes 2 passes. One pass tries to maximize investment and one pass tries to avoid or pay off a mortgage as soon as possible.
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| Daily FI discussion thread - November 01, 2018 Posted: 01 Nov 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]  |
| BBC – "FIRE: The movement to live frugally and retire decades early" Posted: 01 Nov 2018 02:05 PM PDT Pretty prominent post featuring Mr. Money Mustache and others today, it was on the front page of bbc.com with the headline "The 'cult' of early retirement" [link] [comments]  |
| Planning for FIRE while overseas? Posted: 01 Nov 2018 08:06 AM PDT Hi folks, I'm getting ready to transfer to Singapore from the US and am working on figuring out how this will affect my FIRE plans. Based on preliminary research:
Am I missing anything here? Would love some advice from any FIRE expats with experience (and if any of yall are in Singapore, happy to meet up and share a beer!) [link] [comments]  |
| Posted: 01 Nov 2018 01:49 PM PDT Maxed out 401k and Roth IRA. Looking to increase HSA contributions. A brief google search has thoroughly confused me. Are HSA accounts offered the same protections as other retirements accounts? Specifically, are they judgement proof in bankruptcy? Some information seems to suggest that they are protected by ERISA, but that seems strange and would have some bizarre side effects e.g. Why would Health Savings Account money be protected from a bankruptcy caused by medical bills? [link] [comments]  |
| Posted: 01 Nov 2018 04:40 PM PDT |
| Paying off student loans or investing more into 401k? Posted: 01 Nov 2018 04:23 PM PDT Hey guys, I recently graduated college and got a pretty good job making 62k with lots of room for growth. I have 60k in student loans at around 9%, am currently putting 5% into my 401k, and putting as much as i can towards my loans, is this my best option? Or would i benefit more in the long run from maxing out my contribution to my 401k? Any advice is greatly appreciated! As well as any tips you think would help out a 22 year old trying to begin his journey to FIRE! [link] [comments]  |
| Is there a resource to find parameters of where to FIRE given future climate change? Posted: 01 Nov 2018 03:26 PM PDT There are beautiful places in the US that can be had for cheap, and realistically the most catastrophic aspects of climate change will really start most likely later in our lives or after we're dead (50-200 yrs out). Given this, there are still factors to take into account: air quality from expanding development due to population clean water Rising tides, surges, storm intensity I'm sure I'm missing others I guess I'm wondering where are there suggestions or even places online that can list out locations that are suitable for living taking into account changes in the next 30 years. Towns and cities that have amenities like healthcare and LOCL but also are set up to not lose fresh water, over development, etc. We'd like love to retire to the beach of Florida, San Diego, or even some in the desert. I look at areas of the PNW and the like and wonder if that's the safest bet. Thoughts? [link] [comments]  |
| feeling lonely on my FIRE journey Posted: 01 Nov 2018 01:01 PM PDT tl;dr at the bottom context: 21M, working and studying 1st year master's so i was recently feeling pretty lonely on my FIRE journey. I am doing very well financially although I don't come from a reach family at all. Aware of FIRE concept since I was 17-18 yo. Saving ever since I started working (which was 1st year of university). have 3 months emergency fund, investing. I was lucky to get a very good paying job in IT which allows me to earn twice as much as my uni graduates (even though its graduates are earning most among all graduates in the whole country; big and good university country's capital city; and i still have 2 years of studying to go). I got really good in budgeting which became a habit to me (thanks YNAB btw). Currently sitting on saving's rate around 50% (which on the sidenote is absolutely absolutely crazy, FI calculators are showing I could theoretically fire before 30 if I stayed on track). But thing is i am kinda feeling lost and alone in all that. I dont really have anyone I could honestly talk about it. Literally none of peers are even familiar with the concept of FIRE (except of my close friends whom I told about it myself haha). I dont really wanna talk about it with friends so that they dont think im only about money in life etc. Also my peers whenever they earn some money they immediately spend it on parties/travelling and other things and only saving when wanting to make a bigger purchase in the (usually very short) future. And that is pretty discouraging tbh because I'm saving a lot and I think to myself I could spend all my savings right now and travel anywhere in the world right now (that is ofc not too responsible and I wouldn't do it but having a thought, you know lol). if you read until now thanks for reading :P Well anyways I feel like I'm loosing focus, it's all a bit overwhelming to me. What I am looking for is some kind of support, can anyone relate to my story? What did you do about it? How to find motivation to stay on track? any thoughts,ideas tl;dr doing ok on the FIRE journey but loosing focus and motivation, any tips? throwaway account btw, JIC [link] [comments]  |
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