Financial Independence Daily FI discussion thread - June 25, 2020 |
- Daily FI discussion thread - June 25, 2020
- Achieved my dreamed FIRE life...but it was meaningless
- Is anybody concerned about the medium-term to long-term stability of the capitalist system?
- Investing Options for International Spouse
- PSA: You still have 20 days left to max your IRA for 2019. Also: you only have 20 days left
| Daily FI discussion thread - June 25, 2020 Posted: 25 Jun 2020 01:06 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]  |
| Achieved my dreamed FIRE life...but it was meaningless Posted: 25 Jun 2020 07:07 AM PDT Sharing about my personal life, my past experience from building, selling a company, achieving the life I dreamed about (Financial independency) and how empty it was. My lessons learned?
Intro2007 - I'd been working for 10 years in Brazil, mainly as a software engineer and tech lead for a few different software development agencies. Hectic environment was the norm. 250+ hours/month for 4 months, no weekends, no exercises. I was like: "I'm young, I can do all of it". ProblemThen, all of the sudden, I felt an irregular heart rate. I felt my heart beating faster for 2 days. This situation led me to a hospital visit. Burnt out detected. I was told to reduce workload. At least, my heart and everything else was completely fine. This problem would change my mindset forever. SolutionWorrying about my life, I left the company and planned to spend 1 year taking care of myself, no work at all. (At the time I was living at home, no kids, 2 years of savings, which facilitated my decision) My new mindset
What did I do next?2 months into my "forced sabbatical". Got a call from a former colleague: a job proposal. "NO, I'll stay 1 year off work". "How about doing a contract, working from home, at your own time?" I sent my proposal, considering 8hrs/day, higher rates and extended delivery dates. "Ok, agreed". Fast forwarding some years, I co-created a B2B product (similar to QlikView and GeckoBoard) at my own pace (10 months), without pressures (working normal hours). Took us 10 months to strike the first sale! Company of OneI ran the company for 9 years:
All of it also allowed me to work less hours and enjoy the chased freedom. We were thriving. Finally, the dreamed lifeEverything was running accordingly. No long hours. Holidays abroad. Time to exercise. Low 7 figures revenue. Great profit. Highly efficient employees. The dreamed life had arrived! To make it even better, I received an offer and sold my company for something in the north of 7 times my yearly earnings. Moving abroadWith money on hand was time for us (my wife and I) to take the biggest decision of our lives: to move abroad, from the hot and sunny Brazil to London (I'll write another post with the reasons we decided to move). I'm on top of the worldNow, I have all the time I wished for. I can travel a lot. I don't need to work. I'm successful, anything I launch will be profitable. I know how to make money. Then I travelled. I didn't look for a new job at all. I invested my time in side-projects as diverse as a list of transport options from airports to city centres. List of UK beers. List of videogame's musics. Is everything going according to the plan?Well, my new lifestyle was not bringing me real happiness. Having anything I dreamed of without any clear purpose was meaningless. Adding to this, my side-projects were not helping anyone. This made me realise I wasn't as invincible as I arrogantly had thought. The meaning of my lifeOne of the purposes of our moving abroad, was to raise kids in a safer country, with less problematic politics. Then, sticking to the original plan, it was time to have a baby. He was born 2 years after I started my dreamed, empty life. Since then, I'm one of the most important people in the world, at least for him. My life now has the most clear objectives, most difficult challenges and the best rewards ever: - to make him as happy as possible. If he's happy, I'm more than happy
Now, I'm on top of the world. My today's worldSince 2018 I'm working as a Project Manager/Product Owner after 12 years as an employer. Why? My mind needs to be active (empty mind sucks). It makes me feel alive. I need the income. There are loads of positive points now, like 25 days of holidays, clear direction, having a boss to learn from, working in an industry I'm passionate about (sports), career progression, etc. My futureI'm chasing the dream, once again, of launching something that helps people. Why? - to see the real joy of helping people solve their problems - to spend quality time with my family. This time will never come back - to have the freedom to work whenever and wherever I'm the most productive - To feel the rush when a new client buys my product Now, I'm 100% sure I'm using my time and money way more wisely than before. [link] [comments]  |
| Is anybody concerned about the medium-term to long-term stability of the capitalist system? Posted: 25 Jun 2020 07:01 AM PDT I'm NOT criticizing capitalism or wealth accumulation; building as much wealth as possible is one of main goals in life. But it's an inescapable fact that people like myself and those in the FI community who strive to obtain significant wealth depend heavily on the status quo. I'm 30 years old and when I look to the future I have a hard time imagining that capitalism will survive the 21st century. Everything I have read and studied about the current era of rampant economic inequality (most notably Piketty's Capital in the Twenty First Century) tells me that we are inexorably trending toward a major restructuring of our economy and society at large. FI folks arguably have the most to lose from a major change in the economic status quo. I could be dead wrong about what I just wrote, but is anybody else concerned with this? What could someone do to protect themselves from a major restructuring of the economic model? [link] [comments]  |
| Investing Options for International Spouse Posted: 25 Jun 2020 04:13 PM PDT I'm a US Citizen who recently married my non-citizen partner. We are still in the filing stages for their green card and it is looking like investing options are limited until that is granted. We have been told this process is going to take a while—potentially up to a year—and I don't want to wait. Vanguard won't let me create an account for a non-resident alien. Does anyone have suggestions of what we might do so my spouse can have some investments in their own name so that they, too, can fully catch the FIRE bug? [link] [comments]  |
| PSA: You still have 20 days left to max your IRA for 2019. Also: you only have 20 days left Posted: 25 Jun 2020 01:25 PM PDT With tax day delayed to July 15th, the IRA contributions cutoff is also delayed. Rumor is it might be delayed again until September 15th, but just in case it isn't, you should know you can still contribute for 2019 if you haven't contributed the full $6k for last year. But the deadline is coming up soon. [link] [comments]  |
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