Financial Independence Daily FI discussion thread - January 31, 2020 |
- Daily FI discussion thread - January 31, 2020
- Fire...apps/websites?
- How many of you concentrate on earning more instead of extreme frugality?
- Weekly FI Frugal Friday thread - January 31, 2020
- 28/M Married Wealthy which made me technically FI, feel frustrated, guilty and ashamed.
| Daily FI discussion thread - January 31, 2020 Posted: 31 Jan 2020 12:09 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]  |
| Posted: 31 Jan 2020 11:29 AM PST First time poster, but relatively long-time lurker. I've seen countless people post custom-looking FIRE charts/spreadsheets. Are there any websites/apps that are able to simplify any of this tracking? I've tried using Mint/Personal Capital over the years, but Mint seems to be more geared towards day-to-day budgeting and less net-worth accumulation/progression towards a concrete goal, and Personal Capital seems to just have not-great connections with other financial systems resulting in pretty shoddy tracking. Note - have my own customer spreadsheets/google sheets, but wondering if there's any sort of automated or even semi-automated alternative. Think some financial advisor facing software can do this, but none of it seems to be geared towards regular people. [link] [comments]  |
| How many of you concentrate on earning more instead of extreme frugality? Posted: 31 Jan 2020 03:32 PM PST I can't help but feel that earning more through educated investment, side-gigs, better career choices is a more solid way to get to FIRE rather than double down on extreme frugality. Picking a good mutual fund/etf is more important than not cutting my own hair or trying to grow my own vegetables. Clearly, I'm not saying it's either one or the other, but I feel like "making more" is often less talked about in FIRE. Instead, there is a much bigger emphasis on spending less. I'm relatively frugal, but I think keeping a healthy balance that is right for me impacts my quality of life greatly. Being able to do something nice for my kid (take him for an ice-cream, buy him a new lego set, etc) is just as important as turning off lights when not used, doing laundry less often, buying used clothes, etc. For me picking the right things in investments, selling things instead of throwing/giving them away, buying used (when appropriate), trying to earn more in my work are all big in my daily routine. One thing I can't see giving up is my Jiu-jitsu gym membership (a sport that requires partners and where coach is essential for learning and improvement). Keeps me fit and happy (for some strange reason "sport tired"= good vibes vs "work tired" = bad vibes.) What do you to earn more? My list: - more educated investments - selling instead of throwing things away - trying to advance career instead of being in one place - searching for gigs to do - searching for items to re-sell (cars, electronics, etc) [link] [comments]  |
| Weekly FI Frugal Friday thread - January 31, 2020 Posted: 31 Jan 2020 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]  |
| 28/M Married Wealthy which made me technically FI, feel frustrated, guilty and ashamed. Posted: 30 Jan 2020 05:16 PM PST Alright, so I recognize this is a massive first world problem question and its a problem many would love to have. I get how humble braggy this looks, but that's not my intention. I come from a blue collar family and was lucky enough to go to college (first in my family). I've been working for FI since I left college and managed to put together 150k in invested assets mostly through frugality and moving into management at my job. I married my college sweetheart who I have been with for 6 years. I knew that she was significantly wealthier than me, she comes from an upperclass family and personally had about 1 million in invested assets directly under her control or in a trust; but I didn't really mind one way or another. What was important is that we had the same values and were both simple, frugal people and I love her dearly. However, when we joined our accounts, seeing the net worth on personal capital be higher than my FI target made me feel really unhappy which is weird. I remember feeling so excited when I hit six figures in invested assets the first time. I feel frustrated because I "hit" my goal through complete luck and no effort on my own and that's its unearned. I feel like if I were to retire using what is essentially her families money I'd be a contemptible moocher. It's also weird because I come from a blue collar family and they are upper class and I feel like I've got something to prove. So anyway I'm not going to "FI" until I've earned it and am going to keep working until I've contributed my half of the FI number to the family. What's frustrating is that's it's hard for me to 100% know what I've "contributed"; i.e we share costs and have joint accounts. My other fear is that even if I contribute my "half" and retire early her family will see me as a gold-digging loser (even though they have been very kind to me) or that I'll never feel like I've truly earned/achieved FI. I plan to go into real estate investing (unrelated, something I've always wanted to do) to make more money and to ease into FI or never fully retire. I also think I should probably see a shrink at some point; because maybe I'm just nuts. So what do you think, if you were in my shoes what would you do? What is your take? Edit: So I realized I left out some critical information, thank you for the honest and insightful comments. My wife knows about my FIRE ambition and has supported it for a long time. She also knows the contents of this post and my hangups. She has a job but her passion is family and once we have kids in a few years she wants to be a stay at home mom. Spending time with my kids was a big motivator in FIRE for me as well. Edit2: Woah didn't expect to get this much attention. My wife woke up, read reddit in bed and asked my half-joking if this was my post and I admitted it. Thanks for all the good advice! TLDR: People who have married into wealth or received a large inheritance that made you hit your FI number how did you deal with feelings of unworthiness from technically being FI from something you did nothing to earn? [link] [comments]  |
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