Financial Independence 63% of millennial homeowners regret buying home: survey |
- 63% of millennial homeowners regret buying home: survey
- "The Secrets of The Millionaire Mind" Animated Summary. I hope that you can get some value from it.
- Daily FI discussion thread - March 01, 2019
- Job that supports delaying FIRE.
- FIRE commune
- Weekly FI Frugal Friday thread - March 01, 2019
- FIRE police officer
- FIRE as expats
- Military Retirement Help
- Roth IRA Conversion Ladder Question
- I Tested the Saving Technique That Promises Retirement at 40
- 200K+ comp, 1-2 years from FIRE, stressed at work, what’s a pre-FIRE to do?
| 63% of millennial homeowners regret buying home: survey Posted: 28 Feb 2019 05:48 PM PST Shockingly high, wondering what the % would be if they had been able to buy homes at 40%-50% less than what they ended up paying. https://finance.yahoo.com/news/63-of-millennial-homeowners-regret-buying-home-survey-213314873.html [link] [comments]  |
| "The Secrets of The Millionaire Mind" Animated Summary. I hope that you can get some value from it. Posted: 01 Mar 2019 04:42 PM PST Link to video: https://www.youtube.com/watch?v=R1WjeoCw30g Hope it is useful I've done summaries of other books like:
if you're interested and want to subscribe here's a link: https://www.youtube.com/channel/UCfbLDMh6uGOZePAfqqjVZ-g?sub_confirmation=1 [link] [comments]  |
| Daily FI discussion thread - March 01, 2019 Posted: 01 Mar 2019 12:09 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]  |
| Job that supports delaying FIRE. Posted: 01 Mar 2019 04:05 PM PST I have an on demand remote weekend shift job where I work Fri-Sun 7AM-7PM and I get the other four days off. This month marks the eight year anniversary of having this job. With this job, I don't have the pressure to retire in late 30's or 40's (Am in mid-30's). I have set my target FIRE around age 55. This job provides me all the freedom and time I want to pursue any hobbies I desire. I also get 7 weekends off for vacation. If I take them separately, this amounts to almost 2 months of holidays. I take 5 international trips every year of 2 weeks each for each trip. Other hobbies that I picked up because of the ample time I have is walking 12 miles a day (even on the weekend), playing drums and sleeping for hours at a time in a mid-day just because I can. I'll be satisfied if this job can last until 40 or mid-40's as I would have accomplished what I wanted. After that, I'm fine with getting stuck with regular 8-5 job for 10 or 15 years as I would have spent the majority of my working career living the lifestyle that many FIRE people desire without actually being FIRE. [link] [comments]  |
| Posted: 28 Feb 2019 07:15 PM PST One of my fears about FIRE is the difficulty in maintaining relationships as an adult. Without work, avenues for meeting and befriending adults is not impossible but it is going to be harder. Has anyone heard of FIRE communities developing? I entertained the idea of buying land and starting a tiny home commune in the past but then I realized that was just me trying to start a cult [link] [comments]  |
| Weekly FI Frugal Friday thread - March 01, 2019 Posted: 01 Mar 2019 12:09 AM PST Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! 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: 01 Mar 2019 06:18 AM PST I'm fairly new to the community but have been researching FIRE and saving in general for about a year. I'm a 36 yr old police officer been on for 12 years. I feel like i'm behind the proverbial eight ball a bit in savings and attempting my best effort at FIRE. I just started maxing out my 457b account to try to play catch up. At this point i'm looking for any advise or tips from fellow law enforcement involved in FIRE or anyone who got a late start in FIRE. What else can I do to catch up? Thanks in advance for your help. [link] [comments]  |
| Posted: 01 Mar 2019 08:16 AM PST Is anyone achieving FIRE as an expat having lived in one or more countries? I would like to know about your story as I'm myself considering of living as an expat somewhere in SE Asia after finishing my master this year. Particularly I'm interested in knowing how do you manage your investments (i.e do you have different brokers ecc) and how you pay taxes and so on I'm from Europe btw Thank you [link] [comments]  |
| Posted: 01 Mar 2019 05:32 AM PST Hello all, just wanting to get some advice here from the professionals of the FI world. A little about myself, I am currently an active duty military member (25 years old, E-5) stationed overseas in Europe with my wife (also 25) with no kids. I currently have 7 years in and am on the fence about staying in or getting out. I have been taking it one enlistment at a time and really trying to feel things out as I go along. I recently arrived at my current duty station, so I will be here until my 10-year mark. Of course, this is where most of us make the decision to commit or move on to the civilian world. After much pondering and calculating, I may have come up with a scenario where my wife and I (as well as future children) can retire from the military at the 20-year mark being financially independent while probably working part time jobs in a low cost of living area, doing something we actually want so we can really focus on family and the rest of our lives. Good news is my wife and I currently have zero debt! My wife finished her degree back in 2017, and we smashed those loans like a hurricane. Paid off around $30,000 in 2 years. We have no credit card debt; not even a car payment (we paid cash for the one we have). Bad news is that last year I was convinced I would separate, so I opted into the BRS. Maybe not the smartest move, but I can't go back on it now. I am currently putting my 5% into the Traditional TSP to get the 5% match. I was only putting in 1% before so my current retirement savings are pretty low. Below are our financial details, assessed pension amount, and questions. Like I said before, I want to focus on funding my military semi-retirement (ages 38 – 60) and actual retirement (60 – the bitter end). Monthly Income (after taxes and MFJ): His: $3,000 Hers: $1,700 Cash: Ally Bank Savings (2.2% interest) $35,000 (Extra Cash) $15,000 (Emergency Fund) $1,000 (Car Fund; plan to add money to this so we can buy a used car outright in cash when we get back to the states) Investments: TSP Traditional (BRS): $4000 C fund: 80% I fund: 10% S fund: 10% His Roth IRA: $3,000 (Just funded with Vanguard, haven't bought a fund yet; Suggestions?!) Her Roth IRA: $3,000 (Just funded with Vanguard, haven't bought a fund yet; Suggestions?!) Debt: None! Assessed Pension at 20 years (after taxes) $20k-$22k a year in today's dollars. Increases yearly with inflation. (Retiring as an E-7; hopefully higher!) Questions: 1) TSP: I am currently only putting 5% to get the 5% match (altogether around 300/month currently). I think I want to use this money in actual retirement when I can withdraw with no penalties. Should I keep adding my 5% or increase my contributions? Would it be better to do the Traditional or Roth? The matching funds only go toward the traditional, so theoretically I can split my allocation if I want. I also am aware of a Roth conversion ladder, so I have been considering that as well. 2) Roth IRAs: I have these funded but have yet to select a fund. I want to maximize growth, so I am considering high dividend growth funds or a REIT through Vanguard. I want this to fund my actual retirement at 60 (or so). 3) Cash: As you can see, I have plenty of emergency funds. I want to stick my extra cash in a taxable account of index funds for the next 13 years to fund my semi-retirement. I plan to add $20k a year to this and my goal is to reach $500,000 at 38. The plan is to withdraw the 4% a year to supplement my pension income to make a total of $40k-$42k a year in passive income. This goal is ambitious, but not out of reach, especially if we made a few more sacrifices to our budget. Of note, I will try and stay in the 15% tax bracket for all this time to minimize capital gains taxes, but it would be a challenge in the latter half of my career. The goal would be to take the excess from the invested money withdrawals (at a 0% long term capital gains tax) and reinvest them into our Roth IRAs. This seems like maybe unnecessary money churning, but it seems to make some sort of sense to me. I can always contribute to Traditional TSP to keep my taxable income down I suppose. 4) Asset Allocation: Open to any suggestions here for both sets of retirements. I am newer to investing, so I would love to see multiple views on this. Should I view my semi-retirement funds as separate from my actual retirement funds? Should I lump them together? Any tax loss harvesting tips? Would a service like Betterment be more helpful to me? I have a hard time understanding that one, or even if it makes sense if I want to stay in the low tax bracket. Help! [link] [comments]  |
| Roth IRA Conversion Ladder Question Posted: 28 Feb 2019 04:36 PM PST Hello FIRE community, Lets say you maxed out your 401k each year starrting at 23 and you retired at 40. When you do the Roth Conversion you would have to sell the shares in your 401k to transfer them to the Roth account correct? What happens if there is a downturn in the year you wanted to do a conversion? [link] [comments]  |
| I Tested the Saving Technique That Promises Retirement at 40 Posted: 01 Mar 2019 10:10 AM PST Interesting, I don't think he gets it, especially with the closing paragraph:
edit Turns out this was posted a few days ago, those looking for a more in-depth discussion may enjoy reading here: https://old.reddit.com/r/financialindependence/comments/av0q7n/vice_article_on_fire/ I doubt this post will last long with the accumulated downvotes :) [link] [comments]  |
| 200K+ comp, 1-2 years from FIRE, stressed at work, what’s a pre-FIRE to do? Posted: 28 Feb 2019 09:09 PM PST Using a throwaway account due to posting financial numbers. Living in a HCOL area and making about 200K+ total comp. I am about 1-2 years away from FIRE'ing. The thing is, I hate my job and the field I'm in. Had planned to work at least another year to save up more money. Work has been stressful and I'm unhappy doing what I'm doing. On a scale of 1-10 to describe my level (1 mildly unhappy, 10 dead), I'm probably at a 6 or 7. Some days are bearable while others suck. I don't want to quit and find another place to do the exact same thing nor am I skilled to do something else. Aside from work, I'm in an unhappy position in life, and work is making things worse. I'll be 40 in a few years and don't want to live out the rest of my 30s being miserable. However, I grew up in the poor-low middle class range and I can't believe I made it this far to make the money I am. A part of me feels bad for walking away from this, especially prematurely and not quite ready to FIRE. I'd like to know what you would do in my situation? Stay, quit, something else? Specifically knowing that you're a year or two away from FIRE. I could quit and find a random job, but socking away more money at 200K/annual would give me a good cushion. [link] [comments]  |
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