Financial Independence Lowered Savings Rate, Increased Spending & Giving...Feel Happier |
- Lowered Savings Rate, Increased Spending & Giving...Feel Happier
- Considering the Multi Generational Household path to help FIRE
- Daily FI discussion thread - March 26, 2019
- Resist temptation of lifestyle creep
- Thoughts on giving, not talking about "charity"..
- FIRE blogger getting bored and going back to work
- What kind of hobby can my wife get into to transition from full time work? Wife is overly-attached to high stress high pay job and it is killing her slowly. Trying to find some stress relief hobbies and friends for her.
- Not sure of the best investment strategy moving forward
- Given the high of the market and economy - should you use a lesser figure for calculating the 4 percent withdrawal?
- A take on the state of the subreddit
- Does anyone know of any sude gigs or skillsets that.....
| Lowered Savings Rate, Increased Spending & Giving...Feel Happier Posted: 26 Mar 2019 08:43 AM PDT Not looking to discuss right vs. wrong, just describing a change I went through..... For years and years, I had a savings rate north of 50% and saw my net worth climb rapidly....however each new net worth milestone began to feel like a series of empty victories. Over the last couple of years, I've lowered my savings rate closer to 30-35% and really bumped up my spending (mostly in terms of eating nicer/better food, going to restaurants/movies/sporting events more frequently, new workshop tools) and my charitable giving (mostly to local charities or people in need). I can only speak for myself, but I feel so much happier than before.....as if I am living a more balanced life, which has helped in almost all areas of my life, including work. I think giving $1000 to a flood or fire victim gives me 10x the return on happiness as hitting a new $100,000 net worth milestone. Anyhow, just wanted to share my two cents :-) [link] [comments]  |
| Considering the Multi Generational Household path to help FIRE Posted: 26 Mar 2019 03:38 PM PDT My wife and I currently live with her parents. We made the move 2 years ago right before we got married because it was always the plan to move to this EXACT neighborhood, where 6 other homes contain family of hers (everyone's really close, which I like). We had our first baby last year. We are 32 (me) and 30. Since then we've been saving money to buy a house around here since it's not exactly a starter neighborhood. But in the process we've found that we all enjoy living together. They get to see the grand baby all the time, we get built in baby sitters and we're saving a TON of money. It helps that the house is about 6k SF, so we are not cramped for space. Plus it's on the water and we wake up to beautiful views everyday (yes, we've gotten spoiled). My MIL has been hinting at the idea of us just staying indefinitely. I made the point that I want to buy something, regardless of living in it. With all the money we're saving, I think it wise to put that money to work with rental properties, as I've always wanted to do this. I work full time and bring in about 110k/yr, and my wife stay home with baby and helps with her grandparents (also in the same neighborhood) and brings in about 10k/yr with that help. Ideally, I'd like to be FI by the time I'm 45. If we stuck this living situation out, I don't see why that wouldn't be possible. Anyone had a similar experience with multi gen living to FIRE? How does that plan so to those that have? [link] [comments]  |
| Daily FI discussion thread - March 26, 2019 Posted: 26 Mar 2019 01:07 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]  |
| Resist temptation of lifestyle creep Posted: 25 Mar 2019 08:05 PM PDT Hello all, About 4 months ago I got a sizeable boost in salary (50k to 80k). I'm noticing lately that I've been spending more and struggling to resist temptation more than I used to. I was wondering if you guys had any advise or things that you do to keep yourself on track and not spend? I've already done a few things. For example, I increased my 401k contribution from 10% to 15%. I would max it out, but I'm also saving for a down payment on a house. If it matters, I'm 24, M, single, and live in a relatively LCOL area in the Midwest. Thanks in advance! [link] [comments]  |
| Thoughts on giving, not talking about "charity".. Posted: 26 Mar 2019 06:43 AM PDT Examples I'm talking about are giving to a family friends' benefit for cancer treatment; donating to a nearby community devasted by a natural disaster (wild fire, flooding, tornado); "adopting a family" in need for the holidays; contributing to a friend's go fund me for tragically losing a loved one. Do you have an annual goal to give or set amount willing to give? Do you try to give time instead? I know some don't, that's your own prerogative. Personally, I feel like I'm in a position that I know others are not as well off as we are, even though our take home pay is about 80k. How do you fight the guilt of seeing the money in your account when someone you personally know is hit with a hard time? And I'm not talking about giving thousands to fully support someone, just contributing to a relief fund. Edit- I see I'm getting a fair amount of down votes. This may be more of a moral question. Sometimes bad things happen to good people. And when it rains it pours. If I'm holding an umbrella, I'm going to let someone share it with me. But would never expect it in return. [link] [comments]  |
| FIRE blogger getting bored and going back to work Posted: 25 Mar 2019 07:03 PM PDT I was surprised to see that the author of one of the more popular personal finance blogs made it to FIRE several years ago but has decided to go back to work. Here is his story: https://www.businessinsider.com/going-back-to-work-after-early-retirement-2018-12 Here's another story: [link] [comments]  |
| Posted: 26 Mar 2019 12:37 PM PDT My wife and I both work in the same industry (both engineers). We're in our 30s make north of 6 figures in a medium-low COL area. We both hate our jobs and our coworkers as the environment is stressful and just breeds bad workers (government). For me, I'm athletic and heavily involved in a sport I love. I compete and coach and plan on doing it almost full time once we FIRE. My wife on the other hand doesn't have a lot of friends, no real hobbies, and has an intense fear of injury (so most sports are a no-go). She gets all of her sense of importance and self-worth out of her job. She is completely miserable and has some health-problems related to the stress. Even though we could FIRE in just a few years I see her having an incredibly hard time giving it up even though the job is slowly killing her. Do you guys have any suggestions for hobbies we could do together, or perhaps communities she could join? She knows she needs to have something to transition to after FIRE but we just don't know what. [link] [comments]  |
| Not sure of the best investment strategy moving forward Posted: 25 Mar 2019 09:43 PM PDT I am 25 now,I turn 26 next year.By the end of next year I hope to have 60k invested in my countrys investment fund which has a historical rate of return of 6%. I calculated by retirement at age 60 that 60k should grow to at least 390k and give me about 1.8k a month to live off. I dont really intend to retire early but I do utilise the FI part of FIRE.Having said that,I no longer want to invest in the govt fund because my country doesnt have a stable govt and I cant take the money out till I am 60 by law. I was thinking of getting a home loan instead.I know FIRE is about reducing debt and saving but I really would like a place of my own and I think I have saved enough of a baseline.Obviously I would still FIRE but to a lesser degree than I am now. I wanted to invest in the S&P 500 but I dont think I can because of regulators in my country.I may have to fly to Singapore and create a ETF there(its not far from where I live) but still.Other than index funds is there any other high yielding investment with good liquidity? [link] [comments]  |
| Posted: 25 Mar 2019 07:10 PM PDT I just think the market is close to a high and the future economic news is a bit mixed. Would it smarter to use like 75 percent of your NW to calculate the 4 percent withdrawals? Or is it still ok to use 4 percent because this strategy has been tested through historical ups and downs of the market? Thanks! [link] [comments]  |
| A take on the state of the subreddit Posted: 25 Mar 2019 08:52 PM PDT All the 23 y/o's with 250k+ net worth, borrowed 10k from their grandpa and sold a company for $5mm, moving to Vietnam and making $35k a year with a savings rate of 98%... I just can't take it anymore. I get it, there's plenty of people out there that FI/RE under more reasonable circumstances but with how many posts just make me hate my life I've realized I don't subscribe to FI/RE anymore because it gives me a good feeling about my goals. It's merely a constant reminder now of how my savings rate is garbage, my expenditures are too high, I'll never retire early, and will likely die in some kind of medical debt (USA here). Probably unpopular opinion but I think that if you're under 30 and you're getting ready to FI/RE... good for you, but I don't feel bragging about it here benefits anyone. I know it's in the description, "This place is a place for people who **are** or **want to become** FI". I disagree with that though, I feel like these belong in two totally different subreddits because the people who are already FI/RE have finished, they're done with the race, they beat the game. Sure, their advice would be appreciated in threads on a different subreddit asking for advice but these humblebrag posts of people making $100k a year with a 60% savings rate and no debt and asking for help are making me sick to my stomach. Anyways, to all those who have read to this point, thanks for hearing me out. I hope it influences whether or not you too stay subscribed - asking yourself if you're able to view the subreddit objectively, follow advice, and gleam some value from it - or if you follow it in a morbid state of hating your situation and lurking for a "greener on the other side" feeling. For me it was the latter... and I can identify now that this is unhealthy. Good luck all. Edit 1: number 1 controversial post in the past week! evidence perhaps of the divide? hmmm :p [link] [comments]  |
| Does anyone know of any sude gigs or skillsets that..... Posted: 25 Mar 2019 08:31 PM PDT Will almost guarantee income assuming enough effort is placed? (* Working to increase your income and income streams with projects, side-gigs, and additional effort (I think my post fits this rule) I understand that this is a broad question, but I've been seriously thinking about this, and an lost as to where to start. I have a lot of time I'm not using on much, and would like to start learning something or doing anything productive. Currently I'm in high school, and feel I'm wasting my time. I don't see investing more time into studying or whatever as worth it. Assuming I already have a college locked down and am just waiting until then, what are some things I can study on my own that'll enable me to get something a notch above a part time job? I was first looking into something along the lines of becoming a mechanic, but that's a full time job with varying pay depending on how good you are at it, and it requires a willingness to update a skill set constantly and stay with an auto shop for at least a while, essentially you're a full blown employee. I'm looking for something with a little more flexibility, but with a skill set that's of use outside if that job (that's why I considered working on cars, but that's too general and I don't want that to get in my way of a main job) I'm willing to learn almost anything to get a decent side hustle, trades and all. Any advice, pointers, opinions? [link] [comments]  |
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