Financial Independence Can I just say how much it sucks being single when working towards FI? |
- Can I just say how much it sucks being single when working towards FI?
- I looked around at my family on Christmas and remembered exactly why I want to FIRE.
- Jonesin For A Minute...
- Daily FI discussion thread - December 26, 2018
- Weekly Self-Promotion Thread - December 26, 2018
- I’m planning on doing a part-time mundane job to supplement my income when I eventually FI... but will artificial intelligence kill off these jobs?
- Fire calculators that take rental income into account
| Can I just say how much it sucks being single when working towards FI? Posted: 26 Dec 2018 07:47 AM PST I sometimes think about all of the funds I could have saved by splitting rent, utilities, was less wasteful with food... 😞 Just reflecting. I'm hoping to buy an apartment soon so I can at least put rental income towards the mortgage/build equity. But still, it's a ton of money when you think about it and calculate it, which I do from time to time :/ EDIT: in response to a couple of great thoughts below, I expect that me and my future spouse split all expenses 50/50 (I'm a woman in case that matters) and I expect to work until retirement. So I think it's reasonable my individual expenses will decrease, plus tax advantages of being married (if I'm not mistaken). Also, I agree kids will be an additional by far nontrivial expense but that is a separate question from expenses I'm incurring now (at least there's the additional benefit of having a family). I don't have an option of living with parents and roommates yes - definitely a great pout. It after multiple less than optimal experiences, coupled with the fear of living with strangers (founded or unfounded) and it's a choice that I'm making. But I would love to have a roommate that I'm actually married to. [link] [comments]  |
| I looked around at my family on Christmas and remembered exactly why I want to FIRE. Posted: 26 Dec 2018 09:49 AM PST Long post ahead. TL;DR: I am watching my older family members age, and it gives me motivation to retire before I am where they are. A little background, I'm 25 and newly getting into FIRE, currently at 15% SR (plus 6% 401k match) and aggressively paying off my 25k in student loans and 5k left in car loan. Making 60k/yr with lots of growth opportunity. I haven't set a hard deadline for when I want to FIRE (honestly just too many variables right now) but hopefully by 50 at the latest. I could be doing better but I am very new and need time to get finances in order. Anyway, yesterday I was in a room with a huge chunk of my extended family--siblings, cousins, parents, aunts and uncles, grandparents and more. Specifically, my father and grandfathers got me thinking a lot. My grandfather (mom's dad) is a retired Marine, who, for a very long time, was in peak physical condition; an absolute killing machine. He exercised more than most, well into his 60s. He's in his early 70s now and only actually retired less than 10 years ago. Due to a number of medical issues since then, he has become very inactive lately and is physically declining. Yesterday I saw him, among other things, struggle to get up off a couch without help. My dad's father is in his late 70s, and though I talk to him some, he lives in WA and my Dad talks to him more than I do. Within the last 5 years, he has declined mentally to the point that it is difficult and confusing to have real conversations with him most of the time. Yesterday I heard my dad come back in the room after calling him on Christmas (i would have talked to him as well but i didn't realize he was on the phone with him) and tell us more of the same is going on. He also retired around 65, so he's gotten less than 15 years of coherent retirement. My dad is 57. He was a finance exec, so I know he has always made and saved good money, but I don't know when he'll be able to retire. He got remarried 12 years ago and proceeded to have 4 more kids, the youngest of which is 3. He won't be out of the house until my dad is minimum 72, and that doesn't count college. On top of that, my dad lost his job this year when his company sold to a larger company. I believe it came with a decent severance package, because he decided to take the rest of this year off work, and his early retirement has been inspiring to say the least. He and my mom and the kids have travelled all over, my dad is in the best shape of his life (way better shape than I am, even; he looks like he's about 40, it's unreal), and he's been able to stay at home when they're not traveling and actually enjoy everyone's company. In my 25 years, I've never seen my dad so happy. He even told me that he's been able to cut his reflux medicine in half and go back to eating anything he wants. That's how much his stress level dropped. Sadly, he is still aging. His hearing is going and he has back pains at times. He almost fell walking over a pile of wrapping paper yesterday and a 57 year old falling is not like a 10 or even a 25 year old falling. Could have been a major blow. And he will need to go back to work soon. Depending on what he decides to do, at least some of the stress will come back, and he probably has at least 10 years of work ahead of him if I had to guess. So I guess my point is, it's important to cherish the time we get with our families and friends and do what we can to stay healthy as long as possible. But at the end of the day, we will age no matter what, and the earlier we can become able to spend time doing what we want instead of working, the better off we are. In fact, if leaving work removes so much stress as to increase our health, we are likely gaining time on the front and the back end. So happy FIREing, Merry (belated) Christmas, and in the words of my 10 y/o sister yesterday, Happy Boxing Day to all, and to all a good Boxing Night! [link] [comments]  |
| Posted: 26 Dec 2018 10:19 AM PST Everyone is on their own FIRE journey and my wife and I are 33/27 and are about 17-20 years out depending how greatly kids affect us and pending no catastrophes. We live a comfortable life: eat out a few times a week, have newer iPhones, but we always cut, borrow, and steal in many other ways: house hacked 2x's, shop at Walmart and Aldi, buy cheaper clothes rarely, 11 year old car. Anyway, last year some of our friends who make about the same as us (combined ~$100k) bought a brand new Audi SUV. Yay, good for them. They are in some debt, own 1 home that's nicer than the home we live in, and have expensive tastes across the board - jewelry, accessories, clothing, etc.. Flash forward to this year, I've had the desire to buy an older Corvette. $8k-$10k. Could easily pay cash and it'd only bump insurance a few bucks a month, because it wouldn't be driven often. Well, this year for Christmas our friends got a brand new BMW! They joked about "we maxed out the allowed amount between the Audi, house, and now this, but we can afford it." I went through a series of emotions in my head the last 24 hours. Part of me said, "screw it, I'm going to buy the 'vette tomorrow..." Then part of me got angry at how wasteful can be.... I've toned down today... I realized our goals aren't the same. That when they are in their 60s they'll be working and trying to figure out "how do we retire" and in our 60s we'll be just fine retired and doing almost anything we want. Thanks for reading, I don't have anyone in my network who is actively trying to FIRE, so, when I need to vent, Reddit is all I got. [link] [comments]  |
| Daily FI discussion thread - December 26, 2018 Posted: 26 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]  |
| Weekly Self-Promotion Thread - December 26, 2018 Posted: 26 Dec 2018 03:08 AM PST Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread. Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely. Link-only posts will be removed. Put some effort into it. [link] [comments]  |
| Posted: 26 Dec 2018 04:00 PM PST |
| Fire calculators that take rental income into account Posted: 26 Dec 2018 07:14 AM PST I'm sure that there are many of you with investment properties where monthly rental income will contribute towards monies available when you retire. Most of the financial calculators I've come accross don't have a way for incorporating rental income. I can easily work the numbers out in excel but was wondering if any of you have come across any cool tools online that consider "other" income in retirement when calculating FIRE numbers. Or perhaps you've created some tools yourselves that you wouldn't mind sharing. [link] [comments]  |
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