Financial Independence Daily FI discussion thread - October 26, 2019 |
- Daily FI discussion thread - October 26, 2019
- Is there anyone here who's gone to prison, now on the path to FI or already FIREd? What's your story, how did you do it?
- House Down payment - Use Roth IRA Contributions or sell VTSAX?
- Investing in 401k vs paying off loans
- Buying investment properties in different countries vs in US
| Daily FI discussion thread - October 26, 2019 Posted: 26 Oct 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]  |
| Posted: 25 Oct 2019 08:00 PM PDT |
| House Down payment - Use Roth IRA Contributions or sell VTSAX? Posted: 26 Oct 2019 03:52 PM PDT Hello, Like the title says, I am in the process of purchasing my first home. Does it make more sense to use my Roth IRA Contributions towards a down payment or sell My VTSAX and pay taxes on the gains? I'm leaning towards selling off my investments and trying not to touch my retirement. [link] [comments]  |
| Investing in 401k vs paying off loans Posted: 26 Oct 2019 03:26 PM PDT I got into an argument with my SO about this and I was wondering what advice the community had on the subject because maybe I'm wrong. I'm 31 and have some loans. My SO is very good about saving up for retirement and is in her 20's. She already started and was fortunate to not incur the same loans I did in the process. (College, car, and medical). I've paid off about 75% of my loans and my expenses are about 20k$ a year. I'm doing pretty well putting down 30k$ a year off the loans which I incurred about three years ago after graduation from my masters. My career hit a bump recently with job uncertainty so I'm not pulling in what I used to, but I have a wide range of skills and I'm still pulling 40k$ - 50k$ through contracted jobs though it's not guaranteed so I'm making my liquidity a bit higher to cushion myself. Additionally, due to my current situation I do NOT have an employer that matches for retirement such as 401k. I want to pay off all my loans and I've been doing well but my SO realized I'm not saving up for retirement like her. While I realize the importance of it, I don't want to invest until my loans are paid off. To me eliminating the interest I pay is guaranteed savings. Change my mind (or not). Is there value in investing for retirement or otherwise before your loans are paid off? [link] [comments]  |
| Buying investment properties in different countries vs in US Posted: 26 Oct 2019 02:12 PM PDT I'm looking at going the digital nomad route, and I also like the idea of having real estate as my primary investment. I own a rental property in the US currently but am not opposed to selling it and/or buying other properties. One reason I particularly like real estate is I can have at least one home base, maybe for 3-6 months out of the year, and travel the rest of the year while airbnb-ing out my primary home. Any other property I buy would be a full time rental or airbnb. As far as work goes, let's assume I can work for a company fully remotely or do freelance work (also remotely).And for citizenship, I currently have a US citizenship, but I'm drawn to the idea of living in Europe -- particularly in rural Sweden -- in the long term. So, I may pursue an EU residency or even citizenship at some point. Tbd depending on how I feel after living there for extended periods of time. I love certain corners of both US and EU, sometimes for different reasons, and am quite torn. My question is, does it make more sense to buy property in different countries, or should I just focus on one area? Does anyone have experience with this? I realize it's entirely possible to just get an airbnb in Sweden for an entire summer at a time if owning property there will just lead to unfavorable tax scenarios and high management fees, for example. I also realize that it's easier to invest in and manage properties in a single area, but of course then you're not diversifying very much. (You can of course counteract this by investing in businesses in a different part of the world, without the hassle of real estate). My perhaps naive dream would be to own multiple homes in my favorite corners of the world, and live in each one for 3 months at a time, airbnb-ing them out while I don't. Eventually one of them would no longer be an airbnb but a full time residence for my family, which I hope to have some day. My goal isn't to have these properties provide income immediately, I plan to continue working at least part time for a few decades. But if they can all have close to neutral cash flow, it would be an incredible way to live and once the properties are paid off I'll be financially independent just from the rental income alone. These are just some very preliminary thoughts, so forgive me if any of this sounds ignorant. [link] [comments]  |
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