Financial Independence Daily FI discussion thread - June 04, 2019 |
- Daily FI discussion thread - June 04, 2019
- Nightmarish Time Trying to Get Lease With No Job.
- I feel stressed, sometimes at least
- My wife and I are considering a plan to "reboot" and move across the country in two years (U.S.), then return to our current town to transition into an early retirement. Can I get some feedback on if this is a solid plan?
- Is target date 2050 too conservative for a 25 year old?
- How to handle 401Ks with high expense ratios
- Vanguard advisor services - worth it?
- Do you put social security into your FIRE planning?
| Daily FI discussion thread - June 04, 2019 Posted: 04 Jun 2019 01:09 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]  |
| Nightmarish Time Trying to Get Lease With No Job. Posted: 04 Jun 2019 08:55 AM PDT My question is for people who have FIRE'd young and had to find a rental property. I'm having a real bitch of a time trying to find an apartment. I have a little over 2m that is spread out conservatively. I used to do accounting for a very large company but got laid off. I took that as a chance to reevaluate my life. I decided to go back to school for computer science. I always figured the point of financial independence was that I could do things that make me happy. No longer will I have some swarthy, depressed overseer crack his whip at my neck when I could instead crack my own personal whip at the computer screen when my stocks start misbehaving. And misbehaved they have... Anyway, I have been getting rejected by these rental agents because I am high risk. I have enough in my checking and savings to prepay for the next few years, but they won't even let me prepay the next 6 months as a gesture of good faith. One told me outright that it was just atypical and uncomfortable for landlords to rent to someone that is young, unemployed, with that much money. He was implying that I borrowed the money to deceive them and as soon as I get approved for the unit I would return the money from whence it came. But who in tarnation would loan someone 300k just to help them look good in front of a landlord? As someone who will soon be living in a hotel if I don't get this remedied, I plead for help from someone who has been in the position before. [link] [comments]  |
| I feel stressed, sometimes at least Posted: 03 Jun 2019 08:48 PM PDT Hi, so long story short, I save around 15% of my net income for retirement, which is not really much to be honest. I save an additional 15% for lifestyle like vacations (I don't want to miss out on that, have never really traveled, so I want to keep this!), for bigger expenses like if I have to move, want to buy a new bike/tv/pc/car... (that is not my rainy day fund!) And a few euros for car insurance/taxes to be payed each year. So, the thing that stresses me I think is, that I don't really live. I talked with my gf yesterday and she said, 'damn, you are so stressed about later in life, you don't really live in the moment!' Which is true, but typing this out now shows me again, that I save equal the money for retirement as I do for fun stuff in the present/near future. Now looking at my bank account tells me, that I have only 150€ left for living expenses (all expenses that will be fix this month are deducted already, this is just food/fun stuff to say) Now, it might be a problem that I earn not enough money to increase my present life or my savings. I am very certain I get a good bump of increased pay next year after finishing my degree, but really, I literally feel bad about all this sometimes, while still being proud doing something for investment. How do you guys keep sane, keep walking the fine line of saving for FIRE/retirement and still live a decent, present live? Thank you for reading and possible replies! [link] [comments]  |
| Posted: 04 Jun 2019 06:43 AM PDT (Apologies for the throwaway account, I wanted to go into some specifics in this description and didn't really want to tie that into my everyday handle.) My wife and I are in our mid thirties and have been in our current city for a little over a decade now. It's a solid mid-sized town in the South that has a very good cost of living and fairly good job opportunities, but we feel a bit like we're in a rut and have exhausted what we can do here and are ready to try something new and invest in ourselves in another town with larger opportunities for a while. We've decided that we're putting some serious thought into moving across the country to Los Angeles for a few years for a number of reasons. Here are some specifics on where we sit on our finances for now: House: We owe about 95K left on our mortgage. In our market, the house is worth probably around 140K after some additions and improvements we've made. Savings: We've got around 20K in checking, 45K in savings, and approximately 95K in various IRA's and investment accounts. My wife also has around 30K in a retirement account tied to her current position that can be taken out whenever she leaves that. Other Debt: Is pretty much non-existent. We paid off our college student loans some years ago and we've made a habit of never buying anything off of loans or credit. The house is really the only debt we have. Here's our preliminary plan for what we want to do when it comes to moving to LA: Two Years Out: We're going to keep working our current positions and saving. My wife may take another job if something good comes along, but the idea is to start making the move around two years from now. This would give me some solid experience at an internationally known organization I'm currently working at, allow us to pay a lot more on the principal of our house, and potentially even bite the bullet and completely pay it off prior to moving. In LA: We'd start out with a starter condo / apartment and work our way up to something nicer once we establish ourselves with some jobs that pay the higher market rate in that town. We'd in theory keep the house back in the South, and rely on a property management company to keep it maintained and rented out, potentially giving us some extra income. The plan for now is to stay in LA somewhere from five to ten years. We'd live reasonably at or below our means and save some good money that the higher rate of pay would allow for. After LA: After our time there, we'd return home to our house in the South. It would be paid off, and we'd have hopefully gotten our savings up to a good figure by then. I'm thinking a good goal is around $250K+. At that point, we could coast along on jobs in our field with a paid off house and no debt and kind of transition into a hopefully early retirement. Of course, this is all highly theoretical. My wife and I have talked up this plan for a few weeks now, and it seems fairly doable to us. I suppose what I am looking for is some feedback, suggestions, and other ideas on this plan. I'd love to hear what everyone thinks. [link] [comments]  |
| Is target date 2050 too conservative for a 25 year old? Posted: 04 Jun 2019 03:20 PM PDT My goal is to retire by my early 40's and have an IRA with Charles Schwab with funds in SWYMX (target 2050). Even though I'll be 56 in 2050 I don't plan on withdrawing until 59.5 to avoid the penalty. Should I shift towards a 2055 or 2060 fund in order to be more aggressive? [link] [comments]  |
| How to handle 401Ks with high expense ratios Posted: 04 Jun 2019 10:52 AM PDT My employer's 401k accounts all have expense ratios greater than 1%. I currently contribute 10% to the 401k but will increase that soon. I am also contributing the maximum to a Roth IRA. I've been wondering what strategies I can use to minimize the impact of the high expense ratios. It kills me knowing how low expense ratios can be with index funds from fidelity or vanguard compared to what is in the 401k. Am I worrying too much about expense ratios? [link] [comments]  |
| Vanguard advisor services - worth it? Posted: 04 Jun 2019 07:33 AM PDT I know this sub is made up primarily of folks who are into researching, plotting and strategizing themselves but for someone who needs a hand dealing with everything from taxes to rollovers to rebalancing - is this a good alternative? They charge .30% vs some local advisors who are charging .85 or more. Anybody use them? Thoughts? [link] [comments]  |
| Do you put social security into your FIRE planning? Posted: 04 Jun 2019 04:05 AM PDT There are a couple reasons why I imagine one might not:
Etc What are your thoughts? [link] [comments]  |
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