Financial Independence Daily FI discussion thread - June 14, 2019 |
- Daily FI discussion thread - June 14, 2019
- Ambition and Financial Independence
- People who have fired, if a friend suspected you have done this and asks you about it, how would you feel?
- Weekly FI Frugal Friday thread - June 14, 2019
- Should I get ride of Vanguard personal advisor services?
- Cost of living solo vs. with roommates
- Inflation & FX FIRE Planning
- Didn't want to hijack the any-academics-here thread but wanted advice from fellow academics
| Daily FI discussion thread - June 14, 2019 Posted: 14 Jun 2019 01:10 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]  |
| Ambition and Financial Independence Posted: 13 Jun 2019 04:30 PM PDT I've been seeing a lot of millionaire stories lately where a good part of the advice is waking up early, reading all the time, networking like crazy and working your way up the ladder. I've simply never been that ambitious, and what really attracted me to financial independence in the first place was that I could achieve it without all the normal career ladder garbage. I'll break down what I think got me to FI below.
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| Posted: 14 Jun 2019 02:24 AM PDT I think a good friend of mine is firing today. I want to ask, congratulate and maybe pick his brain. He was literally part of my bridal party so we are close. Would you be put off by thr conversation on money [link] [comments]  |
| Weekly FI Frugal Friday thread - June 14, 2019 Posted: 14 Jun 2019 01:10 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]  |
| Should I get ride of Vanguard personal advisor services? Posted: 14 Jun 2019 04:31 AM PDT Apart from the scheduled rebalancing and saying whether I am on track or not from retirement I don't seem to get much of a value. Based on the asset size I am spending about $400 per quarter for this service. Should I kick it to the curb? Spelling correction on title - Rid, not ride. [link] [comments]  |
| Cost of living solo vs. with roommates Posted: 14 Jun 2019 11:24 AM PDT My roommate and I are going our separate ways in a few months. I currently pay ~$1,100 for my own room sharing a 2 bedroom with them. We are good friends from college and I have never lived with someone that I did not know. I am at an age where there isn't a big friend pool of people looking to be roommates. So I am wondering if I should rent a studio apartment for significantly more money. The lowest price that I could find that isn't a shit hole is $1,700. Most options are around $1,900-$2,200. Obviously from a FIRE perspective, paying double in rent is not an ideal way to spend money if I can help it. I just wonder if there is a benefit to experiencing living on my own and what is the $ amount i'm willing to take the hit for that? [link] [comments]  |
| Posted: 14 Jun 2019 05:59 AM PDT A key issue to discuss is how to prepare for the impact of significant fluctuations in inflation (I'm US-based) and the potential need to diversify currency holdings to mitigate swings. As we are all saving considerable liquid sums into various investment forms, my concern is the drastically diminished value of our "nest egg" if we should experience large fluctuations. Even with efficient planning and allocation, concentrations in domestic holdings would likely leave savings exposed, even for presumed inflation hedges like equities. My thought would be to diversify holdings internationally, although this may be arbitrary for equities & bonds in the Bogle-indexed world as of now, but it would at least presumably diminish exposure. These "investments" would likely be into only established economic powers, however, we then add in the complexity of dealing with FX fluctuations (due to introduced risk/foreign inflation). Has anyone considered this within their own FIRE planning? What actions/thoughts/strategies have you deployed? *I'd like to avoid going to deep into this, but crypto-currencies may be a consideration once volatility stabilizes [link] [comments]  |
| Didn't want to hijack the any-academics-here thread but wanted advice from fellow academics Posted: 14 Jun 2019 01:23 AM PDT From https://old.reddit.com/r/financialindependence/comments/bzcedx/any_academics_here/ it appears there are many academics on this sub, including people from my field. I FIREd before FIRE became fashionable but in hindsight maybe that was a mistake . . . Well, I did my BA in Math from a good university in Argentina, MA in Math from a US state school, and PhD in Econ from a good school (think Chicago or MIT). Didn't get any good offers because I missed the job market on account of a car accident, so joined a relatively lower tier school after interviewing in the secondary job market (think Oregon State). My colleagues were joining schools like Stanford, Yale or Princeton. My advisor was pissed with me. She wanted me to stay on for the fifth year and get into a top school. She probably thought I would turn into an Acemoglu but I had other problems. USCIS was giving me a really hard time with my F-1 status and passport which had expired without me realizing it. So I accepted that poor job offer and became an instant outcast with my advisor not returning my phone calls and my former colleagues too proud to co-author with me. Anyway I struggled to publish all alone, made tenure but hated my job, my colleagues, my department chair, the politics, the back stabbing and mostly hated the requirement that faculty come in to work every day. FIREd prematurely as I was living on a student budget in student housing - and had saved up a tidy sum. And then I got married and had twins. We continued to rent. We have managed to survive on our investments but it has become increasingly difficult with the kids growing up. Sometimes FIRE is a serious mistake and I made that mistake. I realize that I have to go back to academia. Even though my PhD work was very theoretical - think real analysis, theorem proving and other esoteric stuff - almost all my actual work was in econometrics. EJMR would have called me a " failed regression monkey at a VVLRM" - and Econ academics will know exactly what I was. However, my current situation is much worse as my PhD is 17 years old and I have been FIREd and out of academia for 10 years now. So maybe with this background and unimpressive research history my fellow academics can advice me on how I could get back into academia with the eventual intention of FIREing 10 years in the future. [link] [comments]  |
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