Financial Independence In your pursuit of FIRE don't get so hyper focused that you let life pass you by. |
- In your pursuit of FIRE don't get so hyper focused that you let life pass you by.
- What Are Your Favorite Side Hustles?
- Daily FI discussion thread - February 24, 2019
- Question about investment compounding towards FIRE
- Daily “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - February 24, 2019
- What would you like to see in terms of personal finance education in highschools?
- Should I contribute to HSA before 401K and Roth IRA?
- Anyone here traveled with remoteyear.com?
- I think I'm FI, but still get Sunday dreads -- common?
- Life Expectancy
- Best calculator example for Barista/CoastFI?
- Career change and FIRE
- How sure are you that you can stop?
- The Office Space effect of FIRE
- When you calculate retirement age, do you plan on saving enough to leave inheritance or do you plan on breaking even when you die?
- Retirement Income Calculator Critique
- [PL] The more I read the more I'm scared shitless
| In your pursuit of FIRE don't get so hyper focused that you let life pass you by. Posted: 24 Feb 2019 09:36 AM PST I frequently have to remind myself that the point of life is living. Alan Watts' "Life is not a Journey" helps me keep this in perspective so I thought I would share it with you all. Don't miss the point the whole way along. [link] [comments]  | ||
| What Are Your Favorite Side Hustles? Posted: 24 Feb 2019 11:31 AM PST Basically, trying to make an extra 400-500+ per month, but need a completely flexible schedule. So jobs with set schedules are out. I already rideshare, and not sure I could do real estate (I had a hard enough time selling cars). Also not really artsy, so stuff like Etsy is out. Thought about doing a parking lot trash collection side hustle for businesses, but doubt there's any market for it. [link] [comments]  | ||
| Daily FI discussion thread - February 24, 2019 Posted: 24 Feb 2019 12:08 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]  | ||
| Question about investment compounding towards FIRE Posted: 24 Feb 2019 03:30 PM PST I was just reading a post, where someone asked why people say the first $100k is the hardest. One of the responses was "Once you hit the $100k, you've got that compounding at ~10% to help you with the next $100k and beyond".
This is incorrect, right? Assuming the typical FIRE investment strategy of throwing everything into an index fund, the only money that actually assists in compounding would be your dividends, which I don't think there are any funds with 10% dividend returns? While you may be getting large % numbers in returns, those don't compound into your initial investment, since you still have the same amount of units, just at a higher price, right? [link] [comments]  | ||
| Posted: 23 Feb 2019 10:07 PM PST Need help applying broader FIRE principles to your own situation? We're here for you! Post your detailed personal "case study" and ask as many questions as you like, or help others who've done the same. Not sure if your questions pertain? Post them anyway…you might be surprised. It'll be helpful to use our suggested format. Simply copy/paste/fill in/etc. But since everybody's situation is different, feel free to tailor your layout to your needs. -Introduce yourself -Age / Industry / Location -General goals -Target FIRE Age / Amount / Withdrawal Rate / Location -Educational background and plans -Career situation and plans -Current and future income breakdown, including one-time events -Budget breakdown -Asset breakdown, including home, cars, etc. -Debt breakdown -Health concerns -Family: current situation / future plans / special needs / elderly parents -Other info -Questions? [link] [comments]  | ||
| What would you like to see in terms of personal finance education in highschools? Posted: 24 Feb 2019 01:47 PM PST and do you think fire should be taught? what impact would this have on the economy? [link] [comments]  | ||
| Should I contribute to HSA before 401K and Roth IRA? Posted: 24 Feb 2019 12:32 PM PST I don't know much about HSA but know my company has offered it the last two years. I'm probably losing a lot of money by not putting into it without even knowing so want to make better financial decisions. I currently max out my 401K and Roth IRA. I do want to save money for a bigger home to start a family so not entirely sure if I also want to max out my HSA just yet. But after some research that the HSA has a ton of tax advantages, I'm wondering if it's better to lower my 401K/Roth IRA contributions just to max out the HSA. Thoughts? [link] [comments]  | ||
| Anyone here traveled with remoteyear.com? Posted: 24 Feb 2019 12:11 PM PST I have a 70-something friend who's starting his third month of a 12 month remote year. He's having a blast. It's travel with guaranteed broadband, 12 months, each month in a different city/country. Anyone here use their services before? I'm seriously interested. [link] [comments]  | ||
| I think I'm FI, but still get Sunday dreads -- common? Posted: 24 Feb 2019 11:05 AM PST So long story short, and need to be a bit cryptic, but I am a working professional in my 40s, spouse and 2 kids, very HCOL area, but between savings and a family windfall, I am just about FI, even if I had to stop working now and pay for private health insurance for the rest of my days -- not the lap of luxury, especially given the cost of living where we are, but would be ok. On paper, it's FU money. But I still get the Sunday dreads. Now, I know some of this is the nature of my work -- a profession that is extremely demanding, lots of clients with complex issues, and an inordinate number of ways to make mistakes/screw up. But I still stress, and my financial health doesn't equate (to me) to living on cloud 9 with respect to work stress. So many people say that being FI is all about that, being able to walk out on a job, etc. Problem is, that's not in my DNA, and I still let work stuff get to me to the point of having anxiety that affects me, sometimes physically. Anyone else in a similar boat? I have read the "Not Giving a Fuck" book, am objectively aware that I really don't need to worry so much about work issues, but it does plague me. One of the big reasons I want to eventually RE. I really don't get that anxious about anything else -- sure I worry about my kids and spouse, but the only genuine and routine anxiety I have is work-related. [link] [comments]  | ||
| Posted: 24 Feb 2019 11:33 AM PST What do you have as your life expectancy assumption in your retirement plan (i.e. age by which you might run out of cash and that's OK)? For me, it's 100 (more for my husband since he's older than me and we have a common retirement plan). [link] [comments]  | ||
| Best calculator example for Barista/CoastFI? Posted: 24 Feb 2019 12:37 PM PST Are any of the existing public FIRE calculators designed to calculate what is called (I think) BaristaFI? Specifically, I'm trying to create a calculator that tracks when I'll have enough saved to stop adding to retirement savings and work just enough to cover expenses without adding to savings, and then fully retire (start drawing down from savings) around age 60. This is my first post after months of viewing - thanks to all the regulars for the thoughtful advice and viewpoints regularly added here. [link] [comments]  | ||
| Posted: 24 Feb 2019 08:59 AM PST Is FIRE still possible when changing careers? I am currently in my late 20s and work in consulting making 70k/year. This is my first year that I'm able to max out both my 401k and IRA, although I've since realized that I may want to look into an alternative career such as nursing. Starting at 40k out of college, I thought increasing my salary within this field would make me more content, but it has not. Going back to school full time for 2 years would mean 2 years of not being able to max a 401k/IRA while still in my 20s. Nursing seems to have a comparable salary, but better benefits, work/life balance and more opportunity. Is it worth it? [link] [comments]  | ||
| How sure are you that you can stop? Posted: 23 Feb 2019 06:58 PM PST I've been on the FIRE track for 8 years or so and have developed great habits and built a nice net worth for my age (30). I think FI is less than a decade away at this point. Something I'm pondering though is will I be able to stop? I'm a goal oriented person who receives immense satisfaction from achievements. Though I've had some joy from reaching milestones in my personal life, I've never quite found the same excitement as successfully climbing an academic or professional mountain. I worry that the same traits that allow me to optimize my life and pursue FI are going to be my downfall and keep me in the workforce for longer than necessary. There's nothing wrong with working but I want to spend time with family and make the most of the years that I have on Earth. Hopefully I'll get to the jumping off point and be ready to hang it up, feeling as though I've accomplished all that I can professionally. Anyone else out there thinking about this? FIRE is obviously centered around removing work from the equation. It just seems like there could be a mental tug-of-war between maximizing personal time and wanting to log more wins on the job. [link] [comments]  | ||
| The Office Space effect of FIRE Posted: 24 Feb 2019 04:04 AM PST Most people have seen Office Space where the main character gets hypnotized and he stops caring about everything. This leads to him getting offered promotions, working his own schedule, and even dropping the cubicle wall. I've heard people mention this bonus side effect of reaching FI and not being afraid to make their demands known because being fired is not that threatening. I've also wondered if there are people who have become better leaders because of it too. I'd imagine you're a lot less afraid to address the elephant in the room with a million in the bank. Sometimes those conversations need to be had and the guy/gal who just doesn't care if they get fired may be the one to do it. Anyone experienced this? I'm a good 10 years from FIRE but I could see not giving a shit about what people think benefiting my company and career. [link] [comments]  | ||
| Posted: 23 Feb 2019 05:37 PM PST Hypotheticals: At my current rate I can retire when I am 50. All things remaining the same, I will be 50 and run out of money at 90 when I die. Let's say I work until 60. At that point I will have socked up enough money to live forever. I will pass along a huge chunk of money to both kids when I keel over. What is your philosophy to how much you save and when you retire? Is it based on how much you like your job or how much you love your kids? Lol Those of you who have kids and retired early, what was your mindset? [link] [comments]  | ||
| Retirement Income Calculator Critique Posted: 24 Feb 2019 07:25 AM PST Hello everyone- I created a retirement calculator for myself and I'm reaching out to you all in order to get some solid feedback on it. Ideally, I would like to learn: A) Are assumptions of growth and inflation reasonable? B) Are my calculations off? Or are we largely correct? C) Any areas for improvement with this calculator? Other notes on the calculator: My three primary intended uses for this are:
I'd like to add that these are not my dollar figures, I scrubbed the sheet to keep the discussion on the sheet itself, and not about my actual financial position. Basic goals are included in cell notes. Lastly, I am here to learn. If I ask you questions about your feedback I am not trying to be combative- I'm trying to learn your position so I can understand things better. With that said- Here's the calculator! Thanks for your help in advance! [link] [comments]  | ||
| [PL] The more I read the more I'm scared shitless Posted: 24 Feb 2019 06:06 AM PST
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![[PL] The more I read the more I'm scared shitless](https://b.thumbs.redditmedia.com/KT6XQy9KHgwzM7cirVHsNHHcg8CM0z7BZMtfFQKq8iA.jpg "[PL] The more I read the more I'm scared shitless")
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