Financial Independence FIRE backfire |
- FIRE backfire
- Daily FI discussion thread - March 30, 2019
- College Education - what's more important: name recognition or price?
- Going crazy, not sure what to do
- How have your in-laws affected your FI plans?
- Got short-term health insurance for 2019, complies with HSA under $100. As an independent contractor, I can deduct premiums and HSA contribution (I'll max). Tax benefits of HSA seem higher than the premiums, am I missing something? Feels weird to make $ on US f*cked up "healthcare system".
- Advice Needed: Pay off rental property or invest in Roth IRA
- Passive Investment Income (Taxable or All)
- Building the FIRE Starter-Kit (10 items or less)
| Posted: 30 Mar 2019 10:58 AM PDT I've found this sub incredibly helpful and motivating. Problem is that it makes me despise my corporate role so much more. Brain washed corporate zombies. Corporate culture handbooks. Dedication awards. Fake executives. Bullshit project plans. Budgets wasted by idiots. I'm struggling with playing the game with 8 years left to FI. Middle management pays well but really sucks. How do you handle the game of corporate survivor? Edit: don't want to seem as if I have no great people around me. My team has the highest engagement and feedback scores in the company. I love my team, but hate the executive roadshow. Our finance and accounting team is a very nice group too. Not overly political. But many others are. I don't think I'm meant for big company politics. [link] [comments]  |
| Daily FI discussion thread - March 30, 2019 Posted: 30 Mar 2019 01:08 AM PDT 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]  |
| College Education - what's more important: name recognition or price? Posted: 30 Mar 2019 03:45 PM PDT I'm a highschool senior in US. I'm pretty good at Computer Science, and since it seems like a good steady job market to make money in, I applied for CS. Currently choosing between two schools - Northeastern (private school, high price, good name recognition) and UMASS Amherst (public, good CS program, less name recognition, smaller price). One will leave me with about 160 grand in debt, the other - 80. I'm paying for this all myself, but my family "technically" has good income even if they can't and won't contribute. Thus not much financial aid. Hoping to FIRE by the time I'm 50. What will be more beneficial to the goal in the long run, less debt or better name recognition in the job market? In your experience, did the name recognition/college connections make a big difference in reaching FIRE? [link] [comments]  |
| Going crazy, not sure what to do Posted: 30 Mar 2019 02:00 PM PDT Ok, Community I need your help input. My wife and I have reached FI, however she is moving towards full RE at the end of the year. I cant seem to want to stop working right. The job is not stressful. Maybe because I am a seasoned employee. My age - 50. My annual salary 180K. No stress as I have adopted the attitude that since I'm FI, I can walk at anytime. My problem is that we have purchased our forever ever home in a LCOL area. The job is located in a HCOL. If I stay with the job, then I will have to rent an apartment @ 1300 per month and travel each week to the tune of approximately 1300 per month. I'm trying to rationalize my reason for staying with the job because it is not stressful and the hours are manageable. My problem is that I am kinda scared of not working, and not having anything to do right off the bat after RE. I also forgot to mention that I'm an introvert and will have to make all new friends. Someone to hang out with who has the same interest. All my friends and relatives who know about my financial situation tell me to follow my wife and just relax, enjoy myself because I will find my way. Thoughts? [link] [comments]  |
| How have your in-laws affected your FI plans? Posted: 29 Mar 2019 08:29 PM PDT Im engaged with a chinese person and their parents are all about the house. Of course they look at money, prestige, breeding and all that but the hard requirement is having a house in order to marry. I know why. Its a good measure of stability thats tried and true if you can play the game (ie be rich) That said I am not rich nor am i bank rolled by my parents. Im no doctor who does ,modelling and investment banking on the side but my finances are ok. My income is average but my frugality and good financial habits have given me a respectable nest egg given my circumstances. Im stable and in the long run I can easily see a decent life. That said this hard requirement is messing up my plans. Not only is the house a requirement, they are giving me a time limit as well as "a daughters youth is precious" and each passing time is opportunity cost to find someone better. ouch I do understand where they are coming from. They love their daughter and they are thinking about the rest of her life. Im sure China's 20yr + booming economy and apparently ubiquitous doctor model investment bankers on social media colors their judgement as well. I got a year. Im just a little butthurt But I love my fiance dearly and vice versa. She is the greatest thing thats happened to me so im willing to undergo a little inconvenience. Heres the thing though, I have a set plan for my finances. Slow and steady growth via aggressive saving and safe-ish investments (index funds). The act of buying a house, even a downpayment is a huge shock to my finances. My girfriend says we can take out a low interest mortage and then rent the house out to pay it but I just really hate the thought of having debt for 10+ years. Philosophically i never even wanted to buy a house nor do I view it as an effective investment (if you arent rich). Another reason is that i dont want to buy now in a market where prices are through the roof in frankly a part of the world I see little value in with overprices property. The very antithesis of buy low and sell high. If it were up to me id much rather buy property in canada or australia as investments. But of course my in laws want to see the house now as proof that i have the means to take care of her little girl. So there it is, my slight inconvenience in my FI plans. Whats do you guys think? Any advice or thoughts? What have your in-laws done that have affected your FI plans? [link] [comments]  |
| Posted: 30 Mar 2019 10:09 AM PDT For background I'm super healthy, the typical insurance buyer who never uses the product and would over-insured with anything that's not 100% catastrophic. I don't need prescription drugs and would have to buy them from US if I ever need them. I only used hospital once one day to deliver my son with no complications more than a decade ago (who has more traditional US private insurance from his father). My father died at 85 never being at any hospital, my mother had been 3 times only, each time when she delivered her 3 children with no complications. [link] [comments]  |
| Advice Needed: Pay off rental property or invest in Roth IRA Posted: 30 Mar 2019 11:46 AM PDT I typically follow the simple rule of %s - if the average rate of return on stocks is higher than the interest rate gut punch on the property then extra money goes into stocks and/or vice versa. (Still a newb so forgive me if that's a naive plan!) However, I'm unsure of what to do in the coming 2 years as our mortgage loan is a 5 year Commercial AG Index Plus 1.625%. Our current rate is 5.875%. If I understand correctly, the rate (5.875%) will match whatever the current index is PLUS an additional 1.625%. Is that correct? Unless the index has made a significant jump, investing in the stock market would still be a better option with an average ROI of 10%... again, correct assumption? Right now, we owe about $14,500 left on the rental property mortgage. We don't have a lot of extra money so we want to make every dollar dance for us. Part of me just wants to knock out the rental mortgage for peace of mind but I'm not sure if that's the smart thing to do financially in the long run. Any wisdom is greatly appreciated. Apologies if this is very newb of me but I couldn't find anything in the sub that talked to my situation with the 5 year Comm Ag mortgage. [link] [comments]  |
| Passive Investment Income (Taxable or All) Posted: 30 Mar 2019 10:08 AM PDT When determining what your current passive investment income is, do you include investments in non-taxable accounts (401Ks, IRAs, etc...) or just taxable accounts? [link] [comments]  |
| Building the FIRE Starter-Kit (10 items or less) Posted: 30 Mar 2019 04:41 AM PDT Hey everyone, lets get right to it: The goal here is to building the perfect FIRE starter kit, in the form of 10-items or less that can be placed into a physical box, that you would either have wanted to receive at the start of your journey or would send to somebody today if they were about to embark/were flirting with the idea. I've capped the number in an attempt to make each item count & it's likely best we assume that the receiving audience is financially astute (to avoid having to fully educate on the basic principles). I'll lead this off with a few ideas:
So please, have at it. [link] [comments]  |
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