Financial Independence Daily FI discussion thread - November 23, 2019 |
- Daily FI discussion thread - November 23, 2019
- The reason why we are all so stressed is that we never evolved to live in modern society
- Joined a great trade union with pension, but no 401k options. Is a side job just for a 401k reasonable?
- Would you look for work during a recession after FI?
| Daily FI discussion thread - November 23, 2019 Posted: 23 Nov 2019 12:07 AM PST 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]  |
| The reason why we are all so stressed is that we never evolved to live in modern society Posted: 23 Nov 2019 04:42 AM PST The reason why we are all so stressed is that we never evolved to live in modern society. I have been listening to the book Understanding the mysteries of human behavior when I came across this insight. We never evolved to sit in a cubicle running from meeting to meeting 8 hours or more a day, spending the evenings thiking about things we need to do the next day, getting less than needed sleep. Even though we are much more well off now than earlier decades, studies show we are getting more and more stressed. Even though I mostly enjoy my job, I still feel much more relaxed in the weekends / vacations. I wonder what kind of lifestyle would be more natural, living closer to what we evolved in. Perhaps a smaller house close to or in nature instead of a big house in the suburbs; staying offline most of the time limiting information overload, having friends and family over and doing things outside, mostly pratcial stuff instead of browsing the internet and watching TV all the time etc. Have you ever thought that we might not have evolved to live like we do? Has this affected your path to FIRE? This is what motivates my FIRE journey, having the choice to live differently. Edit: Just to be clear: I am not saying we should go back in time to a place without modern medicine or technology. [link] [comments]  |
| Posted: 23 Nov 2019 07:39 AM PST I recently got accepted to join the IBEW, the trade union for electrical workers, as an apprentice and I've very excited. Though the starting pay is middling at best, in my local union I will be making >$50/hr as a journeyman after all the raises and schooling, plus a good pension and health insurance that are both paid entirely by the employer per the bargaining agreement. My only glaring concern with this opportunity is that a traditional 401k option is no where in the local union's agreement or process. For most people in this line of work, this is not a problem, because frankly in my experience, people don't put much thought into saving for retirement even if they have a relatively good income. From what I've seen here, the majority expect to work ~30 years of service, collect the pension as paid by the contractors (which would work out to $2,000 - $5,000/mo depending on how consistent and packed your work history was), and have a paid off house / car / etc. Which is still fairly good, but:
I've done some digging and it seems the best way to get ahead with your own money is to just invest in index funds with your leftover post-tax income, but it still bothers me - the idea of wasting what will eventually be $20k of tax-advantaged income per year that could go into a 401k, that you will have a great deal of control of. This isn't exactly feasible right now because of my schedule and schooling, but eventually I will have almost complete control of whether I'm working, where I'm working, and for how long as a journeyman. Do you guys think it would be worthwhile to get a side job during my normal employment, or when that employment shores up (construction work comes and goes in cycles), just for the purpose of gaining access to a 401k and investing as much of that income as possible into it? Or should I just take the excess income from my main employment and invest it into a taxable brokerage and not overthink the whole thing? The issue won't be that I don't have enough money for a 401k, it will be that I don't have access to it with my regular line of work, and I don't want to leave the tax-advantaged investment on the table. TL;DR: Joined a trade union. Trained workers make very good pay, and employer pays for your pension entirely, but no access to 401k. Is it reasonable to get a side gig (which in all likelihood will pay much lower) just to gain access to a 401k and channel as much side income as possible into it? Thanks y'all. [link] [comments]  |
| Would you look for work during a recession after FI? Posted: 23 Nov 2019 09:15 AM PST Been thinking about it and i would not feel comfortable essentially withdrawing 8% of my savings per year during a 50% recession crash. (assuming COL doesnt change). Now idk the future yet, as i may find alternative source of income after reaching FIRE that is self employed work that i like. But assuming that you/I 100% rely on 4% rule as income. What would be your course of action during a recession of 50%, id imagine withdrawing at double the speed during a recession is often very detrimental to sustainability. [link] [comments]  |
| You are subscribed to email updates from financial independence / early retirement. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment