Financial Independence How much is enough? |
- How much is enough?
- Anyone needed to go back to work after retiring?
- The last kilometer
- Vicki Robin (author of Your Money or Your Life) to speak in Portland, OR on March 5th
- How to find the confidence to act!
- Daily FI discussion thread - February 27, 2019
- How much have you factored into your budget for healthcare for your 50s and 60s?
- Weekly Self-Promotion Thread - February 27, 2019
- Long time lurker, first time poster. I am receiving a large bonus soon...what should I do?
- Existing FIRE people, do you travel?
- Cfiresim results on a 1M portfolio: defined value (4%) vs. % of portfolio (5%, 25k floor, 80k cieling)
- What are going to do with your early retirement?
- The 4% rule is based on the gains of index funds as far as I can find out (correct me if I’m wrong). The problem for me is, what happens if index funds can no longer achieve their past gains?
- Questions on Taxes and FIRE
- Do you include your own assisted living/nursing home care costs into your future projections?
- Quit and Sabbatical or Search for New Job
- DAE not agree"Build the life you want, then save for it" as the primary point of FIRE
| Posted: 27 Feb 2019 05:00 AM PST Those of us here have a view of money that differs from most of the population. Where they see it as something to be accumulated and spent, we see it as a path to freedom. While you surely know pitfalls of the standard approach to money, I'm coming here today to talk to you about the opposite extreme. How much is enough? Being here, you're probably frugal. You're probably good at saving and investing and have a good amount of money already banked up. If you're like me, you take pride in this fact. Using myself as an example, I'm in my mid 20's, and have over $150k, which I'm quite proud of. However, what many years ago seemed like a massive goal (100k), now seems trivial. I want to hit 1mil. Who's to say, when I hit 1mil, the goal becomes 10mil, 20mil, And I'm never satisfied? Since getting into the stock market, what started out as a fun game to grow money has grown into stressing over charts, and ignoring things that don't bring a positive cashflow. There is the obsession to reach the goal, but who's to say that the goal will change once it is reached? I'm sure you've experienced similar situations. How did you find you stopping point, and how do you control the urge to pursue further and further growth? [link] [comments]  |
| Anyone needed to go back to work after retiring? Posted: 27 Feb 2019 12:58 PM PST I can imagine a number of scenarios where this might happen:
If this was you, how hard was it to break back into the work force? What's your story? I'd love to hear your numbers and your reasons. [link] [comments]  |
| Posted: 27 Feb 2019 02:13 PM PST They say the first million is the hardest to accumulate but so is the last 100,000. So close and yet so far. [link] [comments]  |
| Vicki Robin (author of Your Money or Your Life) to speak in Portland, OR on March 5th Posted: 27 Feb 2019 10:07 AM PST Hey, everyone. Vicki Robin is coming to Portland next week. I've never met her in person, so this is kind of exciting. After all, Your Money or Your Life helped change my financial life (and, I suspect, the lives of many here). On the evening of March 5th, she'll be giving a talk at Tabor Space. Info here: Sounds like the talk might is less about achieving FI than what to do afterward. Looking forward to it! [link] [comments]  |
| How to find the confidence to act! Posted: 27 Feb 2019 02:59 PM PST Hi all I am 48 years old and would like to quit my full time job and focus on my health for at least 12 to 18 months and then take on part time work so that I can free up time to enjoy life on my terms. We have 2.4M in property, 600K in super, 15K in shares and our annual lioving costs are around 100K. We have a LOC set up with access to 650K and intend to use some of this as a LOE strategy. Using the 4% rule we can both work part time and we have enough funds to carry us to when super kicks min which by then will be considerably more. I have budgeted out all income and expenses for the next 20 years and are comfortable with the numbers, capital appreciation at 3.5%, interest rates at 6% (loan) My concern is that it is very hard to find anyone who supports taking this alternate approach to life (not working till a year before I die and prioritizing life not money) Is there anyone out there who has shown the courage to implement FIRE at the back end or anyone who has sucsessfully used a LOE strategy. Im happy to give it a go and if need be go back to work more than part time if my calculations are wrong or if the things dont work out. FIby50 [link] [comments]  |
| Daily FI discussion thread - February 27, 2019 Posted: 27 Feb 2019 12:07 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 much have you factored into your budget for healthcare for your 50s and 60s? Posted: 27 Feb 2019 10:27 AM PST I checked the health connector and it said $800/mo. Does that sound right? I checked a different one awhile back and I think it was $1500/mo. That's a huge difference. [link] [comments]  |
| Weekly Self-Promotion Thread - February 27, 2019 Posted: 27 Feb 2019 12:07 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]  |
| Long time lurker, first time poster. I am receiving a large bonus soon...what should I do? Posted: 27 Feb 2019 03:12 PM PST I'm 24 years old. I make 86k annually (without bonus), and in a few months, I earn a 17k bonus. I have 12k 100% stocks in VTSAX. I have 18k in a 401k. I have 12k in emergency fund savings. I can save 1750 a month. No car payments and no debt. Part of me wants to dump all 17k into my savings. With 29k in savings, I was then thinking of dumping the rest of my money (1750 a month) into VTSAX. Is there anything else I should be doing from a FIRE perspective? [link] [comments]  |
| Existing FIRE people, do you travel? Posted: 27 Feb 2019 08:08 AM PST Well the title says it all. Do you travel? Do you travel in your home country, or do you do international travel? If you do travel, how often(ie once a year)? How long are your travels(ie 1 week, a month)? If you dont travel why? Why not? UPDATE: I find it incredibly interesting how many people responded that are still working/holding a job and that in turn allows them to travel. I am really interested to see how this thread progresses as more retired people respond. [link] [comments]  |
| Posted: 27 Feb 2019 09:46 AM PST
Defined value is 40k avg with 92% chance of success. The percentage of portfolio is 60k avg withdrawal per year with 100% chance of success. Obviously it can't predict the future, but are the results innacurate or is there something I'm missing? If it's as it appears, I know I'll be choosing the latter. Thoughts? [link] [comments]  |
| What are going to do with your early retirement? Posted: 27 Feb 2019 01:49 AM PST I am currious as to what you are going to do once you reach your retirement goal. Since everyone's target is different I am wondering if anyone is willing to share their target age/amount saved and what they plan to with their free time. I know this isn't the usual type of question but it seems arbitrary to save money without knowing what for. Thanks in advance. [link] [comments]  |
| Posted: 27 Feb 2019 01:00 PM PST Does this play a significant role? The reason index funds like the s&p have such large gains over the last 50 years is because of globalization of American corporations. What happens when all the corporations are already all global? Would the gains just be enough to keep up with inflation then a small dividend? Would the dividend be at 4%. Should this be something I take into account for when calculating how much I need to retire? [link] [comments]  |
| Posted: 27 Feb 2019 10:57 AM PST Long time lurker, first time poster here. *** I am running stats on $35k investment income per year for retirement. Based on tax calculation for where I am at, I would have to pay about $7500 in taxes for FICA, local, state and federal. This would leave me with $27500. After subtracting ACA cost of $2k (bronze) or $5k (gold) per year, I would have $25500 or $22500, which is quite far from $30 to $35k expense requirement. Am I missing something in my tax calculations? Or just accept that if I want to stay in the same city/state I would need to get like $47k investment income, which would become $35k after tax and $32k or $29k with ACA cost? Thanks, [link] [comments]  |
| Do you include your own assisted living/nursing home care costs into your future projections? Posted: 27 Feb 2019 10:56 AM PST I checked the sidebar and FAQ and maybe I missed this. Or perhaps this topic doesn't belong here? As a single person with no kids or family, I get nervous thinking about what life is going to be like past retirement but closer to actual death. Like when I'm elderly someday and fall and break a hip or if I have a stroke. I likely won't have family around to assist. I've not included this into my equations and Just realized I should. I'll have to do some research on how much to budget for these things. Does anyone else factor this in and how did you go about it? Edited for more words [link] [comments]  |
| Quit and Sabbatical or Search for New Job Posted: 27 Feb 2019 07:56 AM PST I could use the wide wisdom of this subreddit today. I'm about 30 years old and working for a start-up company in a C-Suite role earning about $100k. My wife and I have socked away nearly $500k. I realized recently that it is not working with the company I am currently with. I no longer believe in the CEO's vision or ability to execute. I'm torn between quitting and taking some time off, maybe doing a through hike. This will give me some time to reflect on what my next step would be (independent consulting, corporate finance, non-profit). I'm relatively certain I would find a well paying job within six months that I could be happy with. My other option is to stick it out in this job and apply for new jobs until I find a new one (probably three months or so). My wife earns about $60k, we would be basically breaking even cash flow wise when I am away hiking. At current spend and income levels we will be FI in about 5 years. I would feel a little guilty leaving her for about 6 months to pursue my dream of a thru-hike. It will be difficult for her being alone and not really making any progress. On the other hand, I need to spend some serious time thinking about what makes sense for me as a next step. I've put everything I have into this role for the last year. My mental health has suffered in turn - I want to make sure that doesn't happen again. What do you think? Am I being irresponsible by taking some time off or is this really what makes sense? What would you do? Thanks! [link] [comments]  |
| DAE not agree"Build the life you want, then save for it" as the primary point of FIRE Posted: 27 Feb 2019 08:19 AM PST I agree with the sidebar that FIRE is about "FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE." I read the "Build the life you want, then save for it" less about actual FIRE and more about "finding who you are" and those kinds of things(philosophical stuff). It is fine that people want to find who you are and all that but not everyone wants to do that some of us just want to make as much money as possible and retire as early as possible. Trying to find yourself or doing new experiences might be good but sometimes isn't possible when "maximizing your savings rate (through less spending and/or higher income)." That post more like discouraging FIRE if anything it is no different than people saying why save money if you are going to die anyway. [link] [comments]  |
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