Financial Independence Weekly FI Monday Milestone thread - July 01, 2019 |
- Weekly FI Monday Milestone thread - July 01, 2019
- My cousin (32F) passed away yesterday due to car accident...... Balance between enjoy your life and FIRE
- Every $100,000 saved = $10/day at 3.65% Withdraw Rate
- Those who have fired, do you keep a daily routine or is every day different?
- Daily FI discussion thread - July 01, 2019
- Financially ready to retire. Should I give up such a great job?
- VTSAX vs VOO
- Real monthly numbers from a retired real estate investor
- ZeroHedge Article about FIRE
- Balancing FIRE with charitable donations
- Choosing the best Index to Dollar Cost Average
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - July 01, 2019
- NYC - meeting up after movie 7/11
- Post-FIRE
- How do you spend your time?
- AWS (Amazon Web Service ) remote jobs as FIRE strategy
| Weekly FI Monday Milestone thread - July 01, 2019 Posted: 01 Jul 2019 01:13 AM PDT Please use this thread to post your milestones, humblebrags and status updates 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! 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]  | |||||||||
| Posted: 01 Jul 2019 07:04 AM PDT Hi reddits. I am extremely sad rn. She is the one who introduced and incurred me to FIRE journey. Because of her I opened ROTH IRA account , started savings and learned the values of passive income. I'd say she wasnt "extremely" frugal but frugal enough to save decent.... This incident came to second guess myself and not too sure if ROTH IRA is still worth it when I never know if I'd be living till 59.5 years old.. I know YOLO isnt my thing.. but seeing her away like this at such a young age.. Would appreciate any advice that would help me revert to FIRE journey [link] [comments]  | |||||||||
| Every $100,000 saved = $10/day at 3.65% Withdraw Rate Posted: 01 Jul 2019 08:52 AM PDT After seeing this post on FIRE links I was reading about safe withdraw rates by Early Retirement Now. I'm still working my way through it, but overall they recommend 3.5% for very long retirements. Was playing with some numbers to get rough ideas of annual incomes and what that worked out to for $/day. Realized that this shortcut for 3.65% was a pretty handy way to get numbers really quickly. Just have to multiply by 30 for a monthly number. @ 3.65% WR
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| Those who have fired, do you keep a daily routine or is every day different? Posted: 30 Jun 2019 06:46 PM PDT As title states. Would love to see some examples of FIRED daily routines and what those look like [link] [comments]  | |||||||||
| Daily FI discussion thread - July 01, 2019 Posted: 01 Jul 2019 01:13 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]  | |||||||||
| Financially ready to retire. Should I give up such a great job? Posted: 01 Jul 2019 05:58 AM PDT My husband and I are financially able to retire from both our jobs. Just wondering if it is worth it to quit such a great job. Hubby is 59 1/2 (a magical age!) and I am 57. We have $2,000,000 invested. We just sold our house, but plan to use that money to buy our retirement home, so that is not included in our net worth. I have obsessed for years about how to pay for healthcare until we reach 65. I have employer provided healthcare and it is cheap and very comprehensive. My job is very cushy. I work 6 days on/8 days off. I work at home on night shift taking calls for hospice and many nights, I get few calls. I also do home visits but don't go out every night. I get paid whether I do any work or not. I get even more money for weekends and holidays. It is a 16 hour on call shift, I get paid for 10 hours at night shift differential. I make slightly more than $100,000 a year doing this. Oh, and I get 6 weeks paid vacation a year. So why would I quit such a great job? Here are my reasons: night shift is hard on health. I am actually in excellent health now, but as I get older, I see my sleep getting more important. I also want to move away from this state. I dislike the political climate, the weather, the crime and the traffic, the cost of living is high. Plan to move to another state for better lifestyle and lower cost of living. Hubby is very ready to quit his job. He makes $70,000 a year with 4 weeks vacation. Reasons to stay: health insurance. Retiree medical cost $2000 a month for both of us through my employer. It's an HMO and would need to live here for 6 months a year and have to stay in network. (My kids and grandkids are here, so I already planned to be around here in the summer.) I have looked into Christian Healthsharing Ministries and that option will cost $500 month for two of us with $1750 annual deductible and $1 mil per episode max. We qualify, but I have heard from friends, it takes a long time to get reimbursed. Thinking of just putting money aside and pay cash, then get reimbursed from healthshare. I am a savvy consumer of healthcare and can get good prices. One option is: hubby quits his job and we travel to sunnier state on my weeks off. We keep our health insurance and my income, but incur flight expenses and continue to pay high cost of living for rent, etc. In sunnier place, can live for cheap with my sister, who I am very close to. So, what do you think? [link] [comments]  | |||||||||
| Posted: 01 Jul 2019 02:41 PM PDT Hi FIRE community, I have been watching this subredit for two years. I noticed that people talk a lot about investing in VTSAX, almost like a rule. Why is VTSAX more preferred than VOO? I understand that VTSAX is the total stock market and VOO is S&P500, but the graphs for the last years look almost identical, BUT VTSAX has 0.04 expense ration, while VOO has 0.03 expense ratio. Thank you. [link] [comments]  | |||||||||
| Real monthly numbers from a retired real estate investor Posted: 01 Jul 2019 01:43 PM PDT First, I would like to thank u/TNVET for the idea of these updates. He is active in the leanfire community, and post his monthly breakdown. I thought not only would this be a great way to track my own retirement monthly, but some of you might find real life numbers from an actual retired investor interesting or helpful. Some might want to argue whether or not I am actually retired. I do no day to day work on the business. I have a property manager that handles everything, including handyman duties. I do still look for new investment opportunities, and decide on the game plan when I find one. This is the aspect of the business I find enjoyable, so don't really consider it work, but if you want to count that it will average out to maybe 5 - 10 hours each month. Okay, now for the numbers. Business Income, Investments, and Expenses 1) Real Estate Gross Rental income - $11,625 (no vacancies, but 3 coming up at the end of the month) Net rental income - $10,705 (this includes property manager fee and a few minor repairs...taxes will be accounted for when paid at the end of the year) No new purchases, No sales Hard money loan outstanding on a flip project in Los Angeles - $50,000 (project is complete, just waiting for it to sell) 2) Investments Monthly investment into Fundrise $2,000 (all returns are being reinvested) total return since opening account January 2018 is now 19.5% at end of quarter 2 2019 Monthly investment into Dividend Stock account $2000 https://m1.finance/agZC2s8I5 opened in January 2018, total Money weighted return 11.09% Monthly investment into Leveraged Stock account $2000 https://m1.finance/0QVys8PAH opened in July 2018, total money weighted return 3.97% Monthly investment into Money Market account $2000. Currently getting 2% interest. The balance will stay in the checking account to cover upcoming costs of turnover next month. 3) Possible deal on the table for upcoming month Possible new investment https://www.zillow.com/homedetails/2012-Moffett-S-Joplin-MO-64804/2083775094_zpid/? I have an offer on the table for $26,000. Plan to spend about $5,000 on updating to all pex plumbing, $5000 on cosmetic updates which will include removing carpet, replace with vinyl plank flooring, strip wallpaper, texture walls and paint, replace some fixtures, replace broken windows, and a few other minor cosmetic fixes. It has a new roof as of 2017, so that won't need work, but I will need to address possible rain access through the chimney. Wiring is mostly updated, will need a few new outlets and covers. This could be turned into a duplex, but would need to add a second kitchen and decide how I want to handle the utilities. Projected monthly rent $1,000 - $1,100. This could be a good flip project, too. ARV would be in the $120,000 range. Of course this option would require more updates and upfront costs. I'll likely rent it first for a few years and then reconsider doing a final renovation for sell and cashing out depending on what the market does. PERSONAL EXPENSES Personal expenses for the month (everything except property taxes, which will be a one time expense when paid) I'm sure this is confusing for some people, but I'll explain the low numbers on personal spending. 1) I own my house outright 2) I own my cars outright and only carry liability insurance 3) I self insure for all other insurance 4) I'm just really frugal by nature which includes cooking at home, walking most places within a 3 mile radius, not going out often, etc $645 (Car insurance, gasoline for cars, cable, water, sewer, gas, electric, cell phone, food, entertainment, misc, one time shopping spree for clothes) The major one time expense for the month was my crazy trip to the mall which resulted in me taking advantage of several clearance sales. I do buy shoes every year, but I usually try to take care of my clothes so I have a minimum turnover. But I couldn't pass up on some of these deals, so ended up spending about $115 after tax. That was a pair of dress shoes ($10 on clearance $120 list), a pair of Doc Martin type boots( $20 on sale $80 list price), and a pair of extra rugged jogging shoes ($15 on clearance $90 list)...7 v neck moisture wicking t -shirts, ($2 each on clearance, $20 list price) 5 long sleeve shirts (2.99 each on clearance, $30 - $50 list), 3 pairs of jeans ( for $7.99 clearance $40 - $60 list) and two pair of sweat pants ($1.99 clearance $25 list). That is probably more clothes than I actually needed since I still have most of my old clothes, but what the hell, I was on a roll and living large. Probably won't buy any clothes/shoes the rest of the year. OTHER Grey area accounting. I am in the process of selling an old BMW. I have already purchased a truck for hauling things since I didn't already have one and I have way too many cars. When it all shakes out, I should be money ahead, so no accounting has been done on that this month. Okay, that it is. Let me know if you have any questions about any of this. I know this covers more than just real estate or personal finance, but hopefully members of multiple communities will find it useful. [link] [comments]  | |||||||||
| Posted: 01 Jul 2019 01:59 PM PDT Thoughts on this ZeroHedge Article? I know zerohedge is known for being a doomsday permabear but was just curious on any opinions from this sub. [link] [comments]  | |||||||||
| Balancing FIRE with charitable donations Posted: 01 Jul 2019 11:38 AM PDT How do you all approach charitable donations when pursuing FIRE? Obviously an option would be to wait until I have enough money to FIRE and donate the excess after, but there are people who need the money more now than I do in x years. Also, I'm concerned with global warming and want to help stop it so that I have a habitable Earth to retire to. Thoughts? [link] [comments]  | |||||||||
| Choosing the best Index to Dollar Cost Average Posted: 01 Jul 2019 11:11 AM PDT I want to massively simplify my investing, up to now I have been picking individual value stocks; I now want to change to an index strategy. I am going for FIRE and want a low effort way of investing. The three fund portfolio is a very common strategy among the FIRE community (S&P500, Total World, Emerging markets) Or something of the like. However I am looking to simplify this even further and use a SINGLE fund portfolio - tracking the MSCI All World index. Specifically IWDA (I am based in Ireland). The MSCI All World index has ~1600 companies across 23 Western countries - It is massively diversified in itself and diversifying further does not seem to make sense. I would be interested in hearing people's opinions on this strategy. I would also be open to having some exposure to emerging markets, this way covering more of the world than just the West. Cheers [link] [comments]  | |||||||||
| Posted: 30 Jun 2019 11:13 PM PDT Need help applying broader FIRE principles to your own situation? We're here for you! Post your detailed personal "case study" and ask as many questions as you like, or help others who've done the same. Not sure if your questions pertain? Post them anyway…you might be surprised. It'll be helpful to use our suggested format. Simply copy/paste/fill in/etc. But since everybody's situation is different, feel free to tailor your layout to your needs. -Introduce yourself -Age / Industry / Location -General goals -Target FIRE Age / Amount / Withdrawal Rate / Location -Educational background and plans -Career situation and plans -Current and future income breakdown, including one-time events -Budget breakdown -Asset breakdown, including home, cars, etc. -Debt breakdown -Health concerns -Family: current situation / future plans / special needs / elderly parents -Other info -Questions? [link] [comments]  | |||||||||
| NYC - meeting up after movie 7/11 Posted: 30 Jun 2019 09:12 PM PDT I'm sure many of you have heard of the doc coming out, 'playing with FI/RE'. It's screening at the Kaufman Astoria theater on 7/11, and some folks from a FI FB group are meeting up at studio square beer garden afterwards. Join if you're interested! Also, VERY important, that's free slurpee day. Keep that in mind. Link for the movie- https://www.tugg.com/events/playing-with-fire-r7hm?fbclid=IwAR2xfzHwHThdbgsh3KUyIhiUATBFgMG5gBjCFjAs6F3OMyK7NN1AkzZmTc4 [link] [comments]  | |||||||||
| Posted: 01 Jul 2019 12:43 AM PDT While I find this community to have great content for those starting out and in the middle of their FIRE journeys, sometimes it takes a lot of searching to find content applicable to those who are already FIRE or who are about to FIRE. I find the challenges along the journey have changed substantially and wonder whether a new subreddit that focuses on post-FIRE would be helpful. [link] [comments]  | |||||||||
| Posted: 30 Jun 2019 11:28 PM PDT To those of you who have retired early in your 30s or early 40s with a substantial net worth: How do you spend your time? I feel like it would get a bit boring to live like my trust funded friends. [link] [comments]  | |||||||||
| AWS (Amazon Web Service ) remote jobs as FIRE strategy Posted: 30 Jun 2019 07:16 PM PDT hi, I am an AWS admin and am wondering if doing a remote job as an AWS admin is a possible FIRE strategy. Is anyone out here doing specifically an AWS job or any other kind of part-time contracting job as part of their FIRE strategy? Any pointers as to how they made it happen? Thank You. [link] [comments]  |
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