Financial Independence After visiting my parents these holidays, I think this sub needs to reconsider expenditure increase with old age. |
- After visiting my parents these holidays, I think this sub needs to reconsider expenditure increase with old age.
- Cash only Dentist rates...
- Slomo: Documentary of a doctor who escapes the rat race to just skate all day
- FI/RE - One Income/Young Children? Recommendations?
- Daily FI discussion thread - December 22, 2018
- FI Spreadsheets
- I know folks here are very critical of Annuities. Help convince me.
- How common is it to pay for retirement home out of pocket? (US)
- FIRE or not FIRE! (38M in a emerging country)
- Great Solar System + Electric Car for fire
- Are we (people on the FIRE track) all spoiled with no concept of actual wealth in comparison to others in society?
- If you celebrate Christmas/Holidays...would you sacrifice it to accumulate more for FIRE?
| Posted: 22 Dec 2018 01:36 PM PST My parents are in their early 70s and each time I visit them for the holidays it's clear they need more help around the house and medical costs continue to rise. Their medicine cabinet looks like a wallgreen's. My father, who still exercising every day, can't mow the lawn anymore, shovel snow, rake leaves, etc. My mother can no longer clean the house and any other higher effort housing choirs. They need to pay for all these services. My parents are very smart about keeping their costs low - they eat 99% of meals at home, typically don't buy things they don't need, etc but medical expenses alone eat up their savings. Let's not forget about dental. My mom's dental bills are insane with her having to fix crowns, caps, bridges, etc. Perhaps she is an outlier, but last year alone my sister and I paid for her $3k outstanding dental balance. I understand a lot of these service expenses can be mitigated based on where you live and the type of housing you choose, but I don't think we can ignore medical costs. I don't have exact figures, but wanted to share this more as a thought exercise to see what folks were planning or those that have FI/RE are doing. [link] [comments]  |
| Posted: 22 Dec 2018 09:03 AM PST Went to the Dentist telling them I'll be retiring soon and I wanted to know the cash price for regular cleanings. The receptionist handed me a sheet stating "$250/yr, 2 cleanings and an X-ray included". This is in the greater NYC area, I thought it was a decent deal. Since I plan to be nomadic traveling in a van or like, what are prices like in the rest of the country? Thanks! [link] [comments]  |
| Slomo: Documentary of a doctor who escapes the rat race to just skate all day Posted: 21 Dec 2018 11:59 PM PST Thought that this feel-good documentary would fit perfectly into the FIRE community: https://vimeo.com/59749737 TL;DR: beautiful profile of a doctor who realized he hated his job and himself, and inflected his life to simplify everything and focus on what he loves: rollerblading on Pacific Beach all day long. Great feels. [EDIT: Updated to Pacific Beach, not Venice Beach. Thanks for pointing that out!] [link] [comments]  |
| FI/RE - One Income/Young Children? Recommendations? Posted: 22 Dec 2018 07:03 AM PST Hi guys! I'm so happy to have discovered this Subreddit. Is there anyone here on the FI/RE path who has young children and/or doing it with one income? I recently started following the #financialindependence hashtag on Instagram as well but it seems like most people posting about FI/RE are either (1) single (2) dual income no kids, or (3) have kids that are grown/almost grown. I'm about to really step it up and start my FI/RE journey in 2019 and am looking for more inspiration from those in a similar situation. Is there anyone on Instagram you like to follow? My background: Married, husband works full-time, mother to a four year old, SAHM for most of the time but started working part-time this summer. Me (36), husband (39). I'm happy to say that by being selective about our spending, we've been able to save 100% of my part-time income so far! I know that if I work full-time, we'd be able to save even more and really snowball our way toward FI/RE, but I still want to spend more time with my child, especially while she is so young. Husband has been at the same job for 8 years...started at $45K and just got a nice promotion this month that bumped him to $83K (up from $73K last year). If you have any tips/advice for us, please feel free to share! [link] [comments]  |
| Daily FI discussion thread - December 22, 2018 Posted: 22 Dec 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: 22 Dec 2018 05:28 AM PST I'm curious to see how people keep track of their income, expenses, and investment accounts. I always see people comment that they look at their spreadsheets and find extra investment money or it helps their control on extra spending. Does everyone just use Excel or is there something different out there? I would love to see how you keep a spreadsheet. [link] [comments]  |
| I know folks here are very critical of Annuities. Help convince me. Posted: 22 Dec 2018 02:13 AM PST Interesting article is the NYT on annuities. I'm not totally convinced they are worth my money. BUT I'm equally not convinced they are a total waste of money. I'm attracted to the security aspect, even if it costs me a bit. My question: Why shouldn't I put a small fraction of my money in annuities? Just enough to have an absolute "fail safe" income? [link] [comments]  |
| How common is it to pay for retirement home out of pocket? (US) Posted: 22 Dec 2018 02:15 PM PST My grandmother is in a retirement home and it costs roughly $5000 a month. We are paying for it out of pocket using her living estate after selling her house. Is this common? I was under the impression Medi-Aid covers everything. Is that only if she transferred her entire estate to her kids? [link] [comments]  |
| FIRE or not FIRE! (38M in a emerging country) Posted: 22 Dec 2018 05:17 AM PST I'm 38M and live in a emerging country (Brazil), and in early 2018 I started my FIRE with 1.2M USD (in local currency) and living with a 3,5% withdraw a year (3.500 USD / month) in a HCOL area. I have a good apartment in a good neighborhood, no kids and no wife (yet). But I'm not sure if that it's enough to live "just" with the investments along the years, if I should work more to save more money. This month a company did a proposal to be a manager with a 60k USD salary / year (5.000 USD / month) and it's seen very tempting, but I really want to live in another city or country, near the beach, surfing, and a more frugal life. PS: last years I passed through a existencial crysis, thinking about the meaning of life and this journey is like a soccer game... I didn't ask to play, but I'm in the game and go to play until the end, but trying to enjoy as must I can. Thanks for read and I'll appreciate your comment. [link] [comments]  |
| Great Solar System + Electric Car for fire Posted: 21 Dec 2018 11:56 PM PST What does everyone think of this? If you live somewhere sunny, you can save a lot of money on gas and electric bills. Has anyone tried this? Or is the cost of a good solar system along with a good electric car too expensive? [link] [comments]  |
| Posted: 21 Dec 2018 05:16 PM PST My goal is to retire by 35-38 range with $1m. Currently have $600k invested on a $80k salary (i pick up some short term contract gigs too), I am 32. My annual expenses never exceed $25k, no debt, bought my 3bed/1bath home in cash so no mortgage. I would like to bring in $30k a year post-fire. If there are bumps in the road, I will pick up 3-6 month contract gigs (these are more than plentiful for BAs - business analyst) to supplement every year or two. These pay $50/hour usually. I saw a comment from someone saying that if they came upon $16m, they would retire at 30. I kindly pointed out that's beyond excessive and it's possible to retire on much less.
Give me a reality check. Am I dumb and unreasonable for pursuing these numbers for early retirement? I know my expenses, I know my lifestyle. It was jarring to see these responses from people who are not familiar with FIRE. [link] [comments]  |
| If you celebrate Christmas/Holidays...would you sacrifice it to accumulate more for FIRE? Posted: 21 Dec 2018 05:57 PM PST Specifically, if your job asked you to work on Christmas Eve and Christmas Day for extra pay, what is your threshold before you say yes? [link] [comments]  |
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