Financial Independence A somber reminder of why we have the goals we do |
- A somber reminder of why we have the goals we do
- Ok, which one of you hangs out in my neighborhood?
- Daily FI discussion thread - November 02, 2018
- You guys keep me motivated and hungry
- Weekly FI Frugal Friday thread - November 02, 2018
- How do you keep motivated?
- Now that's it's November, time to make sure you've maxed out your tax strategies!
- Newsletter from Vanguard suggests planning on your retirement spending to be your 80-100% of pre-retirement income.
- NY Magazine profile on FIRE
- Sanity Check on My Plan
- Does anyone here plan on taking the saver's tax credit?
- Help me think through this: It's much cheaper to live in a place I hate. But I'm starting to ask myself if it's worth it?
- How many of you are almost 100% in real estate?
- Looking for a specific FI tracking spreadsheet
- Best way to fire is thru entrepreneurship or business owner?
- Survey: How many of you who are FIRE or close to it, are single?
| A somber reminder of why we have the goals we do Posted: 02 Nov 2018 07:27 AM PDT
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| Ok, which one of you hangs out in my neighborhood? Posted: 02 Nov 2018 07:07 AM PDT Saw this while walking the dog the other day. I usually don't notice vanity plates, but... [link] [comments]  | ||
| Daily FI discussion thread - November 02, 2018 Posted: 02 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]  | ||
| You guys keep me motivated and hungry Posted: 02 Nov 2018 07:05 AM PDT First off, I want to say that sipping my coffee and reading this sub-reddit everyday keeps me motivated and so hungry to keep pursuing FIRE. I'm 27 pulling in around 160k a year. I have about 100k in my retirement accounts and around 50k in the bank. I know I'm probably lightyears ahead of most of my peers, but I don't bother making that comparison. I want to compare myself to you guys. My goal is to get out of the technical field and move more into a sales engineer position so I can hop on that sweet commission train that a lot of you are on. My next goal is to buy a house and start building equity in it, but I'm not sure this city is right for me, so I'm just going to keep saving and see where life takes me. I know these numbers are nothing compared to what is usually posted, but I truly hope that in 10-15 years I can be making posts like I see here - where I have several million in the bank with zero worries about anything. Any advice at all is more than appreciated! [link] [comments]  | ||
| Weekly FI Frugal Friday thread - November 02, 2018 Posted: 02 Nov 2018 04:08 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: 02 Nov 2018 09:02 AM PDT This question is for people who have started late with their FIRE journey (40years+). Goal would seem really distant when you see the people posting here. How do you keep motivated and eyes on goal? What do you do to speed up the journey? Pls excuse if I missed any post rules. Will redirect the question if so. [link] [comments]  | ||
| Now that's it's November, time to make sure you've maxed out your tax strategies! Posted: 02 Nov 2018 03:07 PM PDT Just a friendly reminder. If you want to FIRE, you can't afford to give an extra nickel to the tax man. Make sure you are maxing out your 401k ($18,500 this year) and your Healthcare Savings Account if you have one. You might also want to go to an "every other year" donation strategy, if you like to donate, so you can still itemize your deductions every other year. The new tax laws mean most people won't itemize anymore. Only a few weeks left really before the holidays hit. Good luck! [link] [comments]  | ||
| Posted: 01 Nov 2018 04:44 PM PDT https://vanguardblog.com/2018/10/18/are-you-confident-youre-saving-enough-for-retirement Seems like they don't want to allow for the possibility that people are spending much less than their income. I'm saving more than 50%. I could never retire early if I was assuming that I would be spending my pre-retirement income. [link] [comments]  | ||
| Posted: 02 Nov 2018 07:57 AM PDT https://www.thecut.com/2018/11/im-30-and-planning-on-retiring-in-10-years.html Personally, I was glad to read about someone working toward FIRE who isn't the typical highly paid tech guy mold. Thoughts? [link] [comments]  | ||
| Posted: 02 Nov 2018 03:00 PM PDT Looking for a sanity check on the following plan. Am I missing anything? Bad assumptions? Current: 1M NW (700K 401K, 120K stocks, 180K home equity) , 50 now , FIRE at 54 At 54, FIRE, sell home, use the ~200K + 200K stocks to set up a 5 year bond ladder with $75K in each year for 5 years living expenses. I believe the proceeds from the home are not taxed so use this first before dipping into tax deferred. At FIRE should have 1.2M in 401K , leave that alone for 5 years. After which, at age 59.5 it should be 1.9M. Assuming 8% gains on both calculations above. At age 59.5 set up another 3 - 5 year bond ladder from the 1.9M and roll on. Start using Social Security at 62 (~45K a year) Any thing I am missing? Is my 8% assumption to aggressive? Tax implications I am forgetting about? What I like about this plan is I leave the tax deferred 401K alone and watch it grow for the first 5 years. Thanks for the help! [link] [comments]  | ||
| Does anyone here plan on taking the saver's tax credit? Posted: 02 Nov 2018 06:29 AM PDT If so, how do you optimize your taxes/retirement savings around it? [link] [comments]  | ||
| Posted: 01 Nov 2018 05:03 PM PDT I'm from the west coast of the USA. Currently living in the midwest. No disrespect to midwesterners (who seem to love it here), but I find it really difficult to live here. From pure geography perspective: I miss the mountains, the ocean, the "outdoor culture" that I knew out west. But obviously FIRE is much easier in the Midwest than it is on the West Coast from a pure expense perspective. Housing costs me $600 per month where I live now for a full house, with a yard that I can grow some of my own food in. Where I moved from I was paying 3x that for a tiny 1 bedroom apartment. Even while factoring in travel costs ever year back to the West Coast, I still think I'm saving about $7500 USD per year by living in the Midwest. But... Life is short. Is it worth it to live in a place that I hate for $7,500 per year in savings? How do you other FIRE oriented folks think about location / geography vs. FIRE goals? Edit: Thanks to all of the respondents. Good things to think about / question myself on, etc. Just the kick I need... [link] [comments]  | ||
| How many of you are almost 100% in real estate? Posted: 01 Nov 2018 06:52 PM PDT I was just wondering how many of you have quit their day jobs and gone 100% real estate owners? How many properties do you have that support your daily living expenses? Do you manage yourself or do you leave it to a property management company? Do you do residential, commercial or a mix of both? How long did it take you to own enough to become comfortable? What does comfortable mean to you? Will you keep expanding or just stay where you are? Do you ever regret your choice? How much of your own money have you invested in this and how much have the properties earned and built themselves into? How old were you when you quit your day job? Do you ever wish you had stayed at your day job? [link] [comments]  | ||
| Looking for a specific FI tracking spreadsheet Posted: 02 Nov 2018 08:06 AM PDT I found a spreadsheet on here that I really like using, maybe a year ago? Some time after uploading it to my google drive everything got messed up, it generated tons of extra columns and is so slow that it is borderline unusable. Would anyone happen to have a fresh copy of it still? I have a picture of the main page here. [link] [comments]  | ||
| Best way to fire is thru entrepreneurship or business owner? Posted: 02 Nov 2018 02:24 PM PDT Ive met a guy who works 40plus years having 2m nest eggs but his friend is a business owner/ entrepreneur owns 3 apartment buildings 2 business and dividend stocks has 10.4m in assets hit 2m by 30. Would you do entrepreneur if your 26 vs salary man [link] [comments]  | ||
| Survey: How many of you who are FIRE or close to it, are single? Posted: 02 Nov 2018 12:18 PM PDT I find a lot of people on this sub seem to be single and I wonder if that helps to keep the decision process simple. Are there any divorced men with children who have been able to achieve FIRE or is that just silly? [link] [comments]  |
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