Financial Independence What networth were you at when you quit your job |
- What networth were you at when you quit your job
- Layoffs that target those that max 401k
- Daily FI discussion thread - March 29, 2019
- Weekly FI Frugal Friday thread - March 29, 2019
- Interviewing for a position at a small company with limited benefits..
- Are there any UK people on this thread with their stories of fire?
- Google Finance Alternatives
- Sell stock to fund Backdoor IRA?
- Better to retire with a pension, or find higher pay now?
- Never contribute to deductible tIRA (if Backdooring)?
- Nervous. Am I doing this right? Can I even FIRE?
| What networth were you at when you quit your job Posted: 29 Mar 2019 08:05 AM PDT Just trying to gauge approximately when you all reached financial independence, more specifically, when you felt comfortable quitting your jobs? [link] [comments]  |
| Layoffs that target those that max 401k Posted: 29 Mar 2019 01:14 PM PDT I was unfortunately apart of some management meetings recently where potential for layoffs were discussed. Department heads need to start looking for a few staffers to potentially cut and all that. One individual said something to the effect of "I know ABC individuals max out their 401ks, so they're in a good financial situation, they can afford to lose their job". I was so taken by surprise by that statement...was curious if anyone else has been a part of discussions like this, and if it's widespread? [link] [comments]  |
| Daily FI discussion thread - March 29, 2019 Posted: 29 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]  |
| Weekly FI Frugal Friday thread - March 29, 2019 Posted: 29 Mar 2019 01:08 AM PDT 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]  |
| Interviewing for a position at a small company with limited benefits.. Posted: 29 Mar 2019 03:22 PM PDT I am currently interviewing at a small company that seems to have a great culture and a ton of opportunities for me to explore the industry. The one problem being that the company is very small and offers little to no benefits (I have not had the chance to talk to someone in HR to get all the details). I am expecting a second interview soon and wanted to get some advice. If I do get offered a job at a company like this, what are some things I should worry about and what are some things I should consider when negotiating a salary. This will be my first job out of college so I do not have a ton of experience with this kind of stuff. Are these any tools I can use to estimate what I should ask for compensation in lieu of benefits. Any advice would be greatly appreciated. [link] [comments]  |
| Are there any UK people on this thread with their stories of fire? Posted: 29 Mar 2019 01:47 PM PDT My father did fire at age 50 by selling his company for 3 million with 1 million in assets which is amazing!! He had a great lifestyle but from what I see in the Usd in this thread this wouldn't last for most people in the usa. Yet for what you can get for you money in usa is better than the United kingdom (housing food beer holidays ect). i'm debating if as a nation the United kingdom has learnt to accept less in retirement or does the USA seems to demand more for their money. Any thoughts ? [link] [comments]  |
| Posted: 29 Mar 2019 11:52 AM PDT I have yet to find anything that comes close. Anyone find anything (even if it requires purchase) that has a good tracking? [link] [comments]  |
| Sell stock to fund Backdoor IRA? Posted: 29 Mar 2019 04:55 AM PDT My income exceeds the cap for me to contribute to an IRA this year. I am thinking about doing a backdoor IRA, but I don't have the cash. Is it worth it to sell stock in my regular brokerage fund to fund the backdoor Roth IRA? I know that people pursuing FI use this as part of a ladder, but I am not sure if it is worth it to pay the capital gains now. [link] [comments]  |
| Better to retire with a pension, or find higher pay now? Posted: 29 Mar 2019 09:40 AM PDT So recently I've been having a debate with myself about what I should do about my future and I've read a lot of peoples situations and stories on here and I just want to hear what other people think about my situation. Also, I am currently 34. I started working a job that provides a defined pension where employees become vested after 8 years and the retirement benefit continues to grow the longer you stay with the organization. An employees final annual pension is based on the average salary for the last few years of service and also the age at which you decide to retire. The pension fund, I believe, is slightly underfunded at the moment, but not by much based on last years actuarial reports. I've been here for about two years and I'm making not great money, not terrible, but it could be much higher if I left the organization. I'm decent at what I do, I like the people I work with, I like the organization, etc. I also am eligible for a pretty decent raise if I get a certification, which I'm working towards. The organization doesn't really offer a 401k match but I'm eligible to contribute to it which I am currently putting $10k a year towards and intend to increase over time. Currently, I've got about $80k saved in my retirement. Also, no bonuses are offered. Expenses, we've got a mortgage outstanding but nothing that is outrageously high. Between my SO and myself, we have one car paid off and one that has a small loan. Credit card debt is minimal and no student loans or other debts outstanding. Also, no plans to have children. A few additional perks about the organization:
Also, because I get so much time off and have a decent amount of vacation, I was thinking that in time I might try and start some sort of side business to make some extra money. So overall, My goal is to hopefully be retired by the time I'm 60, or earlier if possible. I don't think I'm doing too bad for myself at the moment, but I'm just wondering would it be more beneficial to try and earn more money upfront now at an organization that pays more and offers 401k matches and bonuses, or ride it out? Edit: Currently making about $55k, if I left, I could find something making ~$75k, plus bonus and 401k match. Pension does not offer Cost of Living Adjustment if I stick with it. [link] [comments]  |
| Never contribute to deductible tIRA (if Backdooring)? Posted: 29 Mar 2019 11:06 AM PDT
[link] [comments]  |
| Nervous. Am I doing this right? Can I even FIRE? Posted: 29 Mar 2019 08:18 AM PDT Long story short, I nailed the crypto boom near perfectly. I walked away w/ ~2.8mil. After reading a thread about emergency funds, I want to get your opinion. I've posted similar in different subs to get their opinions as well. 31yo. Wife is 27. Two kids (8,2) Cars are paid off. Paid off the house. Expenses are insurance and utilities. We do have student loans. I plan on just paying those off once I get my (massive) tax bill for this year. That will leave us w/ no debt hanging over our heads. The next step would be to get credit cards and use those to game rewards. THis is the current breakdown/plan $100,000 worth of computer equipment doing crypto mining (will be paid off in 2020 due to tax incentives) 25 BTC (~$100,000) Wife and I's IRAs both maxed out for 2018 and 2019. Also have another investment account with $680,000 That is our investements. Now, we also have $346,000 in a savings account (2.5% interest). The thought was at $40k-$50k a year (which is huge for having really no expenses), it should last 7-8 years. After reading about emergency funds, it looks like it's too big. I think about this a lot and read a lot and I feel like I have an opportunity to never have to work for someone else again. I can work on the projects I want to do and my wife can stay home with the children until they're both in school. Is this enough money to do this? Or will we run dry too late in life and die in poverty? I'd love to hear your opinions and see how they compare w/ other posts/stories I've read. Thank you so much in advance. [link] [comments]  |
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