Financial Independence Daily FI discussion thread - June 10, 2020 |
- Daily FI discussion thread - June 10, 2020
- FI = nihilism?
- Live your life to the fullest in your 20s, to then live frugally from 30-50 to FIRE at 50?
- Weekly Self-Promotion Thread - June 10, 2020
- Continuing the topic of sabbaticals
- How much money do early retirees have saved?
- Investment property (non-levered) as a substitute for bonds in a portfolio
- Will you accelerate RE due to post-pandemic workplace and travel restrictions?
| Daily FI discussion thread - June 10, 2020 Posted: 10 Jun 2020 01:07 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: 10 Jun 2020 03:40 PM PDT So my brain has been making this connection recently and I'm trying to understand why. I remember forming the desire to be FI in my teenage years. But before that I remember believing in being good at something as in having a profession. By being confronted with the reality of the world one finds there isn't really anything worth doing other than that which leads to acquiring wealth and subsequently more freedom. In my case I especially don't have a desire of being wealthy but simply of not having to deal with work that I find meaningless. I guess maybe for people like doctors or scientists there is more meaning in what they do. I feel like choosing to become independently wealthy is downright nihilistic because on the deep level it says there is nothing worth doing in this world so I might as well live off my remaining time more comfortably. Don't get me wrong, I love the idea of FI and I'm working towards achieving it for myself but I can't help but feeling like I'd trade it off for a job worth doing. EDIT: I might be a little messed up in the head. But I see how most agree that the important things in life aren't valued by society so we have to retreat into our little asinine corporate cubicle gigs which later accumulate into our FI nesteggs, which just equals to other people doing those asinine gigs for us, so then we can finally larp out our fantasies about how we think life should be. To me, FI is admitting the system is broken, but instead trying to rebuild it, we're just buying ourselves a share in that system so we can get that sweet free ride. [link] [comments]  |
| Live your life to the fullest in your 20s, to then live frugally from 30-50 to FIRE at 50? Posted: 09 Jun 2020 08:16 PM PDT I was reading the other thread where some people wish they could trade all the millions they have to be 25 again. It made me think that our 20s are probably the most precious since it's when we peak physically. There are some things we'll never be able to do later if all we just let it go to waste in the name of FIRE. I think in general, you can achieve FIRE on a 45-50% savings rate in 20 years. So... what if someone in their 20s just puts away the 401k amount for employer match, and spends everything else on experiences such as crazy travel and treks around the world, going out with friends, and just having a blast. Then around 30, start their FIRE journey. By that time, their income should've doubled or tripled, and should be a reasonable lifestyle to live on for a 50% savings rate. They'll also settle down and maybe get kids. Kids will take 18-20 years to raise (2 kids 2 years apart), and you can't go as crazy living your life to the fullest while taking care of them. During those 20 years, they're on that FIRE journey with their spouse, and finally when the kids go off to college, it's the perfect time to RE. They're 50, they had all the nice experiences taking advantage of physical youth in their 20s. They leveraged the boring middle to live the frugal life raising kids. Then they are able to experience financial freedom at the best time, when kids are gone and are still healthy. Those 20 years of frugality are also a great environment to teach kids important financial concepts. They can go on more relaxing trips, and many of their friends are also retiring in their 50s, so it's not lonely. They also have the experience and energy to start business ventures if they want. I feel like that's a way more attractive life than grinding out the 20s and lose that one chance at enjoying youth forever, only to retire in the 40s when kids might still be in their teens, and so you don't really have youth, nor do you have true freedom, unless you'd like to spend a lot of time with teenagers (they probably don't). [link] [comments]  |
| Weekly Self-Promotion Thread - June 10, 2020 Posted: 10 Jun 2020 01:07 AM PDT Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread. Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely. Link-only posts will be removed. Put some effort into it. [link] [comments]  |
| Continuing the topic of sabbaticals Posted: 09 Jun 2020 07:23 PM PDT If you've taken sabbatical how was it? What was your experience like? I've been kicking around the idea for a couple years- quit my job, do a through-hike of the AT or PCT, then travel for a year. That other post was getting me excited. Covid has given me a lot of time to plan and a lot of time to dream. From a FI perspective did you take any specific steps? Wish you'd done anything differently? Anything else from that angle? [link] [comments]  |
| How much money do early retirees have saved? Posted: 10 Jun 2020 02:15 PM PDT I found this link today and it's surprising to see the results. Like the author, I thought early retirees will typically be wealthier than older retirees, but we were both wrong. https://dqydj.com/savings-amounts-early-retirees/ I can't really fathom how someone could retire with less than 50k in savings. Anyone got an explanation? [link] [comments]  |
| Investment property (non-levered) as a substitute for bonds in a portfolio Posted: 10 Jun 2020 10:55 AM PDT Traditional wisdom has taught me that bonds lower the volatility of a portfolio in exchange for lower returns. When you're living off of your savings, this lower volatility reduces your sequence-of-returns risk and in many cases extends the duration which you can live off of your savings. Since investment property provides a similar cash flow compared to bonds, I was wondering the degree to which investment property could be incorporated into a portfolio in lieu of bonds. I'm considering a strategy in which I acquire one or two levered investment properties during my working years (I've actually already acquired one), but still invest most of my savings in equities. Just before I retire, I plan to pay off the loans on the (1 or 2) investment properties so that they provide a baseline level of cash flow that I could live off of when the markets are down. Since there's no debt on the investment property, I think this would reduce the sequence-of-returns risk. In theory, anyway. [link] [comments]  |
| Will you accelerate RE due to post-pandemic workplace and travel restrictions? Posted: 10 Jun 2020 10:30 AM PDT My sister in law travels a lot for work. She work in business development for a Fortune 500 and has to travel internationally a lot. A lot. She has been able to work remotely for the past 3 months or so, but has been told that she might need to go back to the office in July. They expect to have her start travelling internationally in September. She is dreading them both but seems resigned to it. She could look for another job, but her area of BizDev just involves a lot more travel and she is tied to the job because of schools and her tenure at the company. I haven't discussed FIRE with her but I know if it was me I would be aggressively planning RE or atleast looking for another job at this point. In my mind, both workplace and travel (especially international) restrictions will be around for a while. [link] [comments]  |
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