Financial Independence Daily FI discussion thread - November 29, 2019 |
- Daily FI discussion thread - November 29, 2019
- Happy Buy Nothing Day everyone! Remember you save exactly 100% on shit you don't buy
- Financial Samurai considering coming out of ER
- Weekly FI Frugal Friday thread - November 29, 2019
- I get that it’s a bad idea to try to time the market, but is anyone preparing for a recession? Anyone else reallocating savings and investments?
- Yahoo Finance, Best States To Retire In
- FI impossible in Austria due to ridiculous taxes?
- Blessed with high income at a young age. How would you best take advantage of my situation ?
| Daily FI discussion thread - November 29, 2019 Posted: 29 Nov 2019 12:08 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]  |
| Happy Buy Nothing Day everyone! Remember you save exactly 100% on shit you don't buy Posted: 29 Nov 2019 07:26 AM PST It's nearly always in your best interest to skip on all the "deals" for crapware made specifically to be shoved out the door on Black Friday and break down by the time the next one rolls around a year later. [link] [comments]  |
| Financial Samurai considering coming out of ER Posted: 29 Nov 2019 02:28 PM PST Just read this article, which basically says he is making this decision, despite maki g $250k a year, because of kids and living in San Francisco. I did not know his while story and checked his blog out. One of his recent articles talks about the luck that went into him being where he is now. I appreciate he acknowledges that. What I find funny is that when he left his last job in 2012 he had negotiated a severance worth five years of living expenses. So as I do the math, that put him to 2017 with living expenses covered, leaving only 2 years (to now) to have a need for the passove income and incom2 from his blog. This shows how much your choice of location to live and having kids can drastically affect our abilities to FIRE. Not a dig on the guy at all, just found f it interesting. [link] [comments]  |
| Weekly FI Frugal Friday thread - November 29, 2019 Posted: 29 Nov 2019 12:09 AM PST Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed 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: 29 Nov 2019 02:51 PM PST Any talk of a recession seems to be condemned. "Time in the market over timing the market." There's also that parable of a guy with the worst luck buying index funds the day before each market crash and still was able to retire comfortably. People have been trying to time the next recession for years and even if the stock market tanks 50%, it'll recover just as quickly! That's what I see a lot here, but I'd like to prod a little bit. So, with all that said, there must be some of you out there that don't blindly follow the steps pinned in this sub. There must be some that look around and see that we're long overdue for a recession. Does this impact anyone's decisions on where to put their savings and investments? Is anyone holding onto more cash in their "emergency fund"? Here's where I'm at: - 401k 6% matched (401k not maxed though) - Roth IRA maxed - 6 months emergency fund in HYSA - Car is paid off and no CC debt - $2700/month mortgage payments - Not eligible for HSA - What to do with remaining cash? I have some gold and silver and am thinking about buying some more, which people here disapprove of. I have cryptocurrency, which people here absolutely despise. Bought gold at $1150/oz and got in bitcoin at $2.4k. It helped me with my down payment on my current house. For context, I'm 33 and make $135k. Wife makes $70k. I'm not a big conspiracy theorist, but looking around at how much chaos is going on around the world, with our (USA) politics, the looming trade war, etc., I feel as if I should be more careful with my cash and my spending. I'd like to FIRE in 18 years, but I only started to fund a 401k four years ago and the Roth IRA two years ago. I have sold all of my stocks and have $30k sitting around in a savings account that gives 1.85% interest. Is there anyone in this sub that is hoarding cash and anticipating a market crash or recession? If so, where are you reallocating your money? Do you do bonds? Leave it in the HYSA? Precious metals? Or are you braving it out and leaving it in the S&P index fund? What if you had the $30k sitting around now? Would you still get into a S&P index fund right away? How can I FIRE at age 50? [link] [comments]  |
| Yahoo Finance, Best States To Retire In Posted: 28 Nov 2019 10:38 PM PST I saw this video and I was actually more interested in the more expensive states rather than the cheapest states. The usual suspects were on the most expensive list, but so was Tennessee which I think is a weird one to come up in a list like this. I mean, there are expensive parts of Tennessee specifically all of Nashville and the Gatlinburg/Sevierville area of East Tennessee. But beyond that, I just don't really see why TN would end up on this list. Anyone have any ideas? [link] [comments]  |
| FI impossible in Austria due to ridiculous taxes? Posted: 28 Nov 2019 06:56 PM PST Im about to start a new job and will earn a nice chunk more money while paying 5x less rent so I figured wow this might give me a shot at doing FI. But the more I read into our local laws the more impossible it seems. We don't have a 401k or anything similar with possible tax benefits and Instead on ETFs for example you have to pay 60% tax. The reason I brought up ETFs as an example is that Vanguard Index Funds which most people including this subs FAQ seem to recommend have a country wide minimal entry investment of 100.000€ which is about 5x of the average annual income in Austria so not very approachable considering I will be in the upper percentage of said average income. I also have no one to talk to about this since I don't know anyone who owns any investments. The "richest" person in my social circle has 50.000€ in saving and he just lets it all sit on his regular bank account and our other friends who also know about his savings think he's smart doing so.. I could live on 50% of my 9 to 5 income and invest the other half as well as all earnings from my side hustle but I have no Idea what to do with my money. [link] [comments]  |
| Blessed with high income at a young age. How would you best take advantage of my situation ? Posted: 28 Nov 2019 06:18 PM PST Currently 28, in a fresh relationship but no kids or marriage. Income 200-240k a year. RRSP (401k) maxed out by my company match at 26k per year. Been at the company for 18 months. Expenses: 3k fixed bills (including $650 a month for car), 3-5k monthly variable spending on food, fun, clothes, shopping, travel, gifts etc. Been trying to cut this down to 2k~. Assets: TFSA (Roth IRA): 35k RRSP: 33k - both of these all in VRGO at Questrade Efund of 15k cash Mortgage of 278k at 2.44%, value of condo 500k. Living in Toronto. Car loan 25k remaining at 0.9%. I've been reading about financial independence, and it's very appealing. I would like to retire early, but not at the cost of my 20s and 30s. I've been avoiding lifestyle creep, and the temptation for a Porsche has greatly diminished since I first got the job. How would you make best of my current situation? [link] [comments]  |
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