Financial Independence FYI: New 2019 Annual Contribution Limits for 401(k) and IRA plans |
- FYI: New 2019 Annual Contribution Limits for 401(k) and IRA plans
- Happy Birthday to Me! Yearly Spreadsheet Update
- Daily FI discussion thread - January 05, 2019
- Currently job searching while in a full-time software job, should I contribute 75% paycheck to 401k?
- SWR vs. constant withdrawal in retirement
- Postgrad, First Real Job, Financial Independence, I need some advice...
- So if you retire before 50, you are considered top 1%?
- Barisa FIRE vs Working Slowly
| FYI: New 2019 Annual Contribution Limits for 401(k) and IRA plans Posted: 05 Jan 2019 08:32 AM PST For those of you who are unaware, the 2019 annual contribution limits for 401(k) and IRA accounts are as follows per the IRS: 401(k): $19,000 EDIT: 401(k) for those 50+: $25,000 (credit to u/nealosis for pointing this out) IRA (Under 50): $6,000 IRA (50+ years): $7,000 [link] [comments]  |
| Happy Birthday to Me! Yearly Spreadsheet Update Posted: 04 Jan 2019 05:46 PM PST It's a new year (calendar and age), and I like to update my spreadsheet as a birthday present to myself. Numbers from the start of 2018 are in parentheses next to my numbers from the start of 2019:
Some commentary: Back in October, I moved a significant amount of cash from my taxable accounts into high yield savings accounts because I'm concerned about the market and a recession. (Yes, I know, timing the market is bad, but I do it anyways. Please don't give me a hard time). I also cashed out some of my private company stock this year and kept it in high yield savings instead of investing it for the same reason. Private company stock has been very lucrative for me; most of my net worth gain can be attributed to its performance. It makes me nervous because of lack of diversification, which is why I've been selling off to diversify. I might completely sell off this year if I get the opportunity. I maxed out contributions to my 401k and non-deductable IRA. My salary for the year was $125k, and I calculated the a savings rate of 32% on that salary. The "FI number" I like to use is my net worth minus the house asset because the house asset can't contribute to my withdrawal rate. When I do actually decide to retire, I will downsize and move to a lower cost of living area. I think I could retire now, but I'm not ready and still enjoy my work. I will definitely retire before I turn 40 - probably earlier - as that has been a goal since I started working and opened up my first Roth IRA when I was 14 years old. It would also be nice to get the FI number a little fatter so I can pay other people to do chores for me; time is a limited resource, and I want to use it on my terms. I love this community, and I enjoy reading other people's posts all the time. Any feedback would be greatly appreciated, and I would be happy to answer any questions, too. Thanks! [link] [comments]  |
| Daily FI discussion thread - January 05, 2019 Posted: 05 Jan 2019 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]  |
| Currently job searching while in a full-time software job, should I contribute 75% paycheck to 401k? Posted: 05 Jan 2019 11:10 AM PST It is January and I've started searching for mid-level/senior software engineering jobs in Bay Area. Is it wise to start to max out my 401k at beginning of year with 75% contributions from paycheck in order to get the tax deductions? A job search can last anywhere 1-4 months total. With luck & skill, I'll be in a new job by mid-year 2019 at latest. A new software job could increase my underpaid small base salary by an immense amount if I can get into the top big software companies not to mention the stocks/equity/RSUs! [link] [comments]  |
| SWR vs. constant withdrawal in retirement Posted: 05 Jan 2019 11:27 AM PST Hi y'all, I'm curious whether the people on this forum typically adhere to their SWR over time or keep spending constant from retirement onward. For context, I'm looking at a 3% initial SWR which equates to about 100k. Hopefully, given the low SWR, I'll end up continuing to see asset growth over time but it's not really clear to me that my spending will increase. I can see maybe a couple extra grand of spending on travel or food every year but don't really foresee spending materially more later down the line. So, for those who have retired, have you seen your spending rise with your wealth or has it been pretty constant? [link] [comments]  |
| Postgrad, First Real Job, Financial Independence, I need some advice... Posted: 05 Jan 2019 11:07 AM PST
Brand new to reddit. First time posting. To get through the backstory of my own issue, I grew up with overprotective, intrusive helicopter parents that have either tracked or micromanaged my life up until the last 6 months... (thanks to finally graduating college, committing to therapy again, & getting this awesome job). That being said, I feel completely unprepared for the next steps of my life, because when I would attempt taking these steps my then financial security was threatened. End of backstory. I have one bank account, which my parents have access to. I want to get a separate checking & savings account for my daily expenses & savings goals & use the old account less. I've heard good and bad things about online banks vs Wells Fargo, etc. & I don't have access to a SECU. I would love any info on starting your own financial independence & banking. In the next year I plan on moving in with my boyfriend & we've been talking about taking a trip out of the country. If you have any tips that are relevant to my own issues, this girl could use them. [link] [comments]  |
| So if you retire before 50, you are considered top 1%? Posted: 05 Jan 2019 10:06 AM PST What about the fair amount of people that want to retire before 40? Are they 0.01 percenters? [link] [comments]  |
| Posted: 04 Jan 2019 07:05 PM PST I have heard people say that they will save up a certain amount of money in order to achieve financial independence, and once they have saved up a certain amount of money (e.g. $300k) then they will "barisa FIRE" i.e. they will quit their high paying stressful job and work part-time in an easy job (e.g. barista). This allows them to semi-retire and focus on doing what they entire while still working a little to top up savings and pay for expenses so that they can FIRE even earlier than normal. However, a phenomenon I am seeing a lot at work is people settling. Usually when workers are young, they work hard in the hope they get quick promotions, but over time they find that promotions are harder to get and so they don't work as hard and try to modify their work so that it is less stressful, and they may take more time working in order to make it less stressful. One of the benefits of this is that they can continue to work full-time but effectively they are on holiday mode. Of course, one could question the ethics of such a strategy. Doing your job with little passion or effort may lead to bad outcomes for society, but has anyone thought about this? Is it a viable strategy? [link] [comments]  |
| You are subscribed to email updates from financial independence / early retirement. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment