Financial Independence Warren Buffet on his early retirement plan |
- Warren Buffet on his early retirement plan
- FIRE with mainly just a paid off rental property and house.?
- Started my first Roth IRA today, thanks for inspiring me guys.
- Crowd-sourcing features for the ultimate Tiller-enabled financial spreadsheet
- Khe Hy: "Why do people hate on financial independence and early retirement?"
- Daily FI discussion thread - November 10, 2018
- How do you imagine your life after FIRE?
- Help with Ultimate Retirement Calculator
- On path for FI but not RE. Career decision is keeping me up at night.
- Singapore startup wants to teach the younger generation about personal finance
- Am I doing ok?
| Warren Buffet on his early retirement plan Posted: 10 Nov 2018 12:21 AM PST
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| FIRE with mainly just a paid off rental property and house.? Posted: 10 Nov 2018 09:21 AM PST What do people think of this? Paid off rental property triplex $2250/mo cash flow (includes allocations for repair/vacancy at 20% of rent roll) Part time barista job $700/mo Paid off condo to live in (costs $600/mo for taxes, insurance, fha fees) My thoughts: worse comes to worse I can go to full time with barista job temporarily and almost cover all my personal costs. My main question is what do you think about using rental property as the vast majority of your income versus just say 4% indexing? I haven't paid it off early yet but basically it's around 150k for $850/mo increase in monthly cash flow. Thanks r/fi! [link] [comments]  |
| Started my first Roth IRA today, thanks for inspiring me guys. Posted: 10 Nov 2018 01:08 PM PST Just started an Roth with Welthfront, thanks for being such a good resource in different FIRE topics. [link] [comments]  |
| Crowd-sourcing features for the ultimate Tiller-enabled financial spreadsheet Posted: 10 Nov 2018 09:09 AM PST Friends in FI, I've been working with Tiller to automate my budgets for several years. While I appreciate the Tiller team greatly, I have always been interested in financial insights far beyond what their out-of-the-box templates provide. After a year working with the platform, I posted this review which generated a decent amount of discussion on this sub and A LOT of PMs asking me to share my more advanced spreadsheet and capabilities. Unfortunately, the spreadsheet wasn't built in a way that allowed me to anonymize the data without breaking its functionality - something I'd obviously need to do before sharing. I'd like to fix that for 2019 and give back to this community (I've learned so much from all of you, after all). Today, my spreadsheet is capable of:
Best of all, everything is customizable by anyone with a little bit of Google Sheets knowledge. Building the spreadsheet to anonymize it will require tearing it all down and essentially starting over. I figured I'd take the opportunity to solicit any features the community was interested in when rebuilding it. If you have any suggestions, feel free to shoot them my way. My goal is to have the new spreadsheet built before the first of the year. Happy saving! [link] [comments]  |
| Khe Hy: "Why do people hate on financial independence and early retirement?" Posted: 10 Nov 2018 12:54 PM PST https://radreads.co/why-do-people-hate-on-financial-independence-and-early-retirement-aka-fire/ Dubbed CNN's "Oprah for Millennials" and Bloomberg's "Wall Street Guru" lol. Love this guy's other work, except he had been a big anti-FIRE guy (though is FIRE right now himself) until he dug into it recently (if you follow him on instagram, two weeks ago he was critiquing those brown banana peeps), but in this post looks like he really comes around to what the FIRE community is all about.
Khe explores:
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| Daily FI discussion thread - November 10, 2018 Posted: 10 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]  |
| How do you imagine your life after FIRE? Posted: 10 Nov 2018 12:22 AM PST |
| Help with Ultimate Retirement Calculator Posted: 10 Nov 2018 02:54 PM PST Hi there - I've been playing around with the "Ultimate Retirement Calculator" and I'm looking for a bit of help: Ultimate Retirement Calculator What's the best way to figure out the "right" entry for these fields:
And while you're here are there any better tools that you'd recommend other than this calculator? Thanks for your help! [link] [comments]  |
| On path for FI but not RE. Career decision is keeping me up at night. Posted: 09 Nov 2018 07:12 PM PST 30M - Work in a comfortable union position that has bonus, pension, unlimited sick days (I don't abuse), ample vacation time, good benefits, a lot of OT. My base salary is slightly above average ($80k gross) but with OT I make an extra $20k-$30k, and bonus is another 10k. Both OT and bonus aren't guaranteed, but all 5 years I've been in my position OT has been generous and bonus paid every year. If I stick with my current path I will be mortgage free by 38, FI by mid/late 40's, but will most likely work until 55 when I receive by full pension ($60k-$80k year for life), meaning a nice retirement. I will never be wealthy but will never have to worry about finances. My major hangup: Because of union environment, throughout my career promotions will be minimal and I will most likely be in my current position for 6-8 years before I receive any promotion, and it will only mean a few extra bucks an hour so maybe 5-10k a year. If I were to leave my job for a (non union) position that had more opportunity for career growth, my short term finances and FI goals would take a hit as I would probably take a 25%-40% pay cut. BUT my long term outlook could mean a way higher ceiling. In my gut I would like to leave my position and 'spread my wings' but I have mental block about taking the pay cut and the uncertainty about what life will actually be like. I am not sure if I am seeing NON-union jobs through rose coloured glasses in my belief that hard work and ambition will automatically lead to plenty of promotions. I am writing this out in detail because I know people like numbers and the more details I can share the more tailored the responses might be. I am looking for opinions on what people would do if they were in my position or even better opinions from people who have been in my position. Thanks [link] [comments]  |
| Singapore startup wants to teach the younger generation about personal finance Posted: 09 Nov 2018 11:46 PM PST Came across this. For background, I'm living in Singapore, 25 this year. Annual income is around 35k. Not many plan their personal finances in their 20s, although most who start their first job after college are beginning to realise the importance of managing their funds. Do they give good advice? Should I be looking somewhere else? [link] [comments]  |
| Posted: 09 Nov 2018 10:52 PM PST Throw away account for anonymity. I know I shouldn't compare myself to others, but I'd like a barometer of how I'm doing, thought I could get some input, advice on what I should change? Late 30s, very unusual situation in that I've been working overseas in Asia for most of my career despite being from North America. This is relevant because it's very difficult to get a job in my home country now due to lack of local experience, so I'm sort of stuck here. Not a bad place anyway. I work for a consulting firm. Wife that doesn't work and 1 young kid. I pull in about 60-80k usd per year before tax, maybe 50-70 after (depending on bonus). I manage to save about 15k, which gets invested into etfs and other passive funds (following much of the advice on this sub). I have 100% employee matching on up to max 10% of my income which goes into a local mixed equity/FI fund, which does alright but is volatile. (This is in addition to the 15k annual savings above). Cost of living here is lower, but school will be expensive for kid. Net worth about 500,000 usd, mostly invested but about 10% cash/emergency. No property or car. No debt. My ideal end goal is a modest place to live + 1.5 million usd present-day value. I get salary increases 5-10% per year. If I become partner (likely in next 3 years), bonuses will get bigger and I get company shares. Other key piece: I actually want to move back to my home country (better place to raise a kid), but I have been aggressively pursuing this for 5+years and am convinced I would have to basically start from scratch. My experience in my field is very difficult to transfer, especially across the globe. Any thoughts? Advice? Should I just keep on keeping on? Thanks all. [link] [comments]  |
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