- I shared this last year and people seem to like it so for those interested in keeping track of their finances in 2020, here's the spreadsheet I use (In Google Sheets form. Link in comments)
- Real Estate Investing Rules vs. the 4% Rule: Why do the numbers feel so different from a FIRE perspective?
- Is MMM wrong about international index investing?
- Daily FI discussion thread - December 30, 2019
- Americans are retiring to Vietnam, for cheap healthcare and a decent standard of living
- Weekly FI Monday Milestone thread - December 30, 2019
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - December 30, 2019
| Posted: 30 Dec 2019 10:53 AM PST Hi guys, I shared this sheet a few times on here so wanted to help out again if anyone is interested. I made it a Google Sheets for easy access: Here's the link: https://drive.google.com/file/d/1K3rKOXwdgX1yaz0xPH9k2S4OzEKljZZo/view?usp=sharing To copy to your own drive go to File > Make a Copy... Then it's all yours to use. Notes on how to use the Sheet: Each Row denotes a day, to keep track daily. I find it best to do that. I keep my receipts and/or check my bank account, and at the end of the day I quickly add up the total for each category and put it in the correct cell (I also write a comment for each cell so I can remember what it was that I did with that money. ex: if I go out to lunch and dinner I add both totals in the Dinning cell for that day (=5.54+25) and then in the comment I write: Breakfast at Barney's LTD., Lunch at Slater's). I added more categories this year for more detailed tracking. Some are obvious but some others are more customized for me (such as Transit and Travel since I am a digital nomad so Travel is between-countries transport (flight/trains), and Transit is local transport (uber, trams, etc.). you may change these columns to fit your needs as you wish. Columns O and P are the monthly Totals for each category. Halves breaks the month into 2 from the 1st to the 15, and from the 15th to the end of the month). The Initial row in column V to AA are there to put the amount of money in your Checking and Savings accounts and amount invested (Excluding gains) that you have the morning of the 1st (take into account the money that has not cleared due to the holiday). Column T is for the description of where the money comes. So if it comes from your employer you can Put Job1, if its from Taxes, you label it Taxes and So on. Column U is the amount. After you add the amount you need to also add what account it went to, so if you get Job1 pay, put the total in column T, say $2000, and then on column U put the same amount, or if you get Interest1 from Savings1 then put that in column T and then on column V. Then on Column V and W, you can add anything that you pass from your checking account to your savings accounts (I have two, one emergency and one long term). So if your paycheck was $2,000 and are saving $500 of those, you put the $2,000 in Column T and U, and then the $500 in column V or W. Y9 through AC20 gives you a few current and estimates totals. Y13 holds a marker for the amount you have available in your Checking account. Y14 and Y15 have your Savings individually, and Y16 have them totaled. Y17 has your total liquid assets, Checking plus Savings that you currently have available after all expenses. MTH/YR EST (beginning in Z12) has your estimated Monthly expenses considering your YEARLY average daily spend (this will become more accurate as the days go by). EST MTH SPEND S16 (beginning in AB12) has your estimated Monthly expenses considering you CURRENT MONTH average daily spend (this will become more accurate as the days go by). (Thanks to u/benishiryo for this nice formula) The boxes labeled Net Gain in column Y Show the relationship between the amount you spent that month with the amount you made that month. If it's a negative number, you spent more than you made. Row 369 gives you your up-to-date year totals in each category for the expenses. For the Income section it gives you your Total amount in Bank (Checking and Savings), total income for the year, and Checking, Savings, and Investment amounts individually. the Monthly Payments section starting at B372, simple adds the defined amounts that need to be paid each month, settings a basic expenses monthly total. (this helps me see how much I spend over the basic things I need to pay for). In the Income Section starting in S372 you can change the formulas in S373 through O378 to include your source's names. This goes with what you put in Column S and it keeps track for you of the income per source (they are case sensitive). The section starting at B382 is the totals from column O neatly organized to see the month expense totals, average, minimums and maximums for each category. You can make some neat charts from this. Let me know if you have any questions and I'll try to explain what the sheet does. I hope this sheet helps you reach FI faster. Enjoy, and happy saving! [link] [comments]  |
| Posted: 30 Dec 2019 08:40 AM PST I have a Duplex that I've done a huge amount of work on; it's worth more than double now what I payed for it, both from the work done and the market. I'm thinking of selling it in no small part because, frankly, I wouldn't buy it now with it's numbers, personally. I believe it will sell for around $410K, and I get $3200 a month in rent. In not terribly long, it will be paid off, and I estimate if I kept it I would clear around $2.2k a month in cash flow on it after expenses and vacancies. However, I'm trying to look at this from a FIRE perspective. . . So here's the rub:
In essence, to 'break even' on the 4% rule, it should be about equivalent to spend - mortgage free - $660,000 on a property that nets you about $2,200 a month. Obviously, it's not zero work, so we'd want more spread than that for our effort. However, from a real-estate-investing mindset, those are laughably bad numbers. Why is there this huge disconnect? Is it the just that it's not completely passive? Edit: I have lived in the place for 2 or the last 5 years, so it would be a greatly reduced tax burden if I sell soon, hence why I feel the need to make a decision in the next year or so. [link] [comments]  |
| Is MMM wrong about international index investing? Posted: 29 Dec 2019 10:00 PM PST Mister Money Moustache argues that you should put everything into VTI, which invests in the total stock market of the US. His reasoning is below:
When I read this, it sounds wrong, especially when he says international investing is "just another form of trying to outsmart the basic stock index. When you do this, you are stating that you believe the stock markets of the other countries are more undervalued relative to future growth, than the US market is." The basic stock market index is not the US market but the world. In fact, by only investing in the US market, MMM is trying to outsmart the basic stock index by taking an active position in one country over another rather than diversifying across many. The same logic that applies to buying VTI over one stock (e.g. TSLA) can be used to invest in a blend of US + developed market + emerging market indexes vs only investing in one of these regions of one country. When MMM says that the "US is traditionally the most business-friendly country in the world, so its stock index has tended to have the highest performance, after taking into account its lower risk and volatility compared to, say, throwing all your chips onto Russia or China" he is basically taking another active position. [link] [comments]  |
| Daily FI discussion thread - December 30, 2019 Posted: 30 Dec 2019 12:10 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]  |
| Americans are retiring to Vietnam, for cheap healthcare and a decent standard of living Posted: 30 Dec 2019 04:11 PM PST |
| Weekly FI Monday Milestone thread - December 30, 2019 Posted: 30 Dec 2019 12:10 AM PST 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: 29 Dec 2019 10:09 PM PST 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]  |
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