Financial Independence Open call for moderator applications. |
- Open call for moderator applications.
- Anyone have experience with life long expensive medical bills interfering with FIRE? How should I approach this
- Daily FI discussion thread - September 01, 2019
- Paul Graham: How to Make Wealth. Slightly contradicts the normal FI narrative, but definitely worth a read.
- Do you include things like employer matching when you calculate your SR?
- FI"RE" is a detrimental idea?
| Open call for moderator applications. Posted: 01 Sep 2019 09:26 AM PDT Hi, everyone. The sub's growth is straining the moderators' ability to handle the traffic, so we're hoping to add new members to the team. If you'd like to volunteer, please message us. Give us a short bio, let us know why you're applying, which of the following characteristics you have, and the specifics of them. Note that these characteristics are ideal and you don't need ALL of them to be selected, but the more the better. And of course other qualifications will be considered. Edit: nominations accepted. Please tag your nominee. Nominees: if you're interested in joining the team, please complete the process described above. The application period runs from Monday, 9/2/19 until Monday, 9/9/19. Thanks! ----- Ideal characteristics:
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| Posted: 31 Aug 2019 11:18 PM PDT I was diagnosed with Crohn's disease at 15, I'm 25 now. My medication and monthly healthcare is extremely expensive. This year I started with a marketplace health plan that was $260 per month with $10k max out of pocket. I still have $3,000 left in bills from that. I then got a new job a couple months ago and my premium is $50 a month with $3k max out of pocket. I just got another $2,200 bill. Ill hit the maximum easily this year so I'll have $6,000 in bills by December. In January the max out of pocket resets so I'll have another $3,000 bill then. In the next 4 months I will owe $9,000 in medical bills. I'll have this disease my whole life. I don't know what to do. It destroys me financially. I max out my HSA but was planning to invest and save that for retirement. It also doesn't seem possible to do now. If I ever end up in a situation where I don't have health insurance it will completely wipe out my future. 1 month of my medication costs upwards of $10,000 and the procedures I need on top of it cost $30,000+ per year. Edit: I'm getting a lot of advice to move countries. Realistically everything I've ever known and have is in the US and as a software engineer my pay would be so much lower in those countries that i would have even less money. [link] [comments]  |
| Daily FI discussion thread - September 01, 2019 Posted: 01 Sep 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]  |
| Posted: 01 Sep 2019 07:25 AM PDT Paul Graham wrote this fantastic essay in 2004: http://www.paulgraham.com/wealth.html One idea he talks about within is not work for the man and save as much as possible over time (partly the narrative here at FIRE) but instead working hard for very short amounts of time and being rewarded correctly for it. Would love to hear your thoughts on this! I tend to agree with him, though it is (probably) harder said than done. [link] [comments]  |
| Do you include things like employer matching when you calculate your SR? Posted: 01 Sep 2019 06:07 AM PDT I am in a pension plan. I am required to contribute 3% of my salary, and my employer contributes 9.58%. Would you include this when calculating your SR? EDIT: [link] [comments]  |
| Posted: 01 Sep 2019 11:49 AM PDT It takes time to build wealth. The first million is the hardest as they say. Second is relatively easier and later ones come easy. The idea of FIRE, especially the retiring early makes us develop the mindset where we quit right at the point (say somewhere between 1m to 2m) where we can become really wealthy. We worked hard all those initial 15, 20, 30 years and when the last few years are going to make us really wealthy, we are quitting What justifies this behavior? Edit: To answer people who say freedom is more important than money. I agree yes freedom is more important. But when you are just FI and working 3-5 more years would give you 2K more for the rest of your life, then you should aim for that extra buffer or comfort rather than quitting at the point of FI. After let's say you have 3-4K more than what you need per month then it doesn't make sense to work but being just FI and quitting is a bad idea [link] [comments]  |
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