Financial Independence Daily FI discussion thread - June 27, 2020 |
- Daily FI discussion thread - June 27, 2020
- Tales of anyone FI chucking everything to RE and live a simple life of adventure?
- Was listening to a 'rich dad poor dad' book and author refers to money made from 9-5 jobs as '50% money'. I though tax was avg 10-20%. can someone explain this to me?[full info in text]
- Got to my FI number, but how safe is it to RE in this "climate"?
- Retirement calculator that also calculates chances of life expectancy?
| Daily FI discussion thread - June 27, 2020 Posted: 27 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]  |
| Tales of anyone FI chucking everything to RE and live a simple life of adventure? Posted: 27 Jun 2020 10:09 AM PDT Has anyone here ever heard of someone having a work-filled, complex life (too much stuff, too many houses, too many investments, too much email/meetings), then getting to the point where they have enough (FI), then whittling their life down to what fits in a backpack (+$$$$), and retiring early to a life of adventure, exploration, and discovery around the world? Real retirement, not vlogging. I have a dream (I'm 50+)...it keeps me going, but sometimes I wonder if it's a siren song that will crash my dream on the rocky shores of reality. [link] [comments]  |
| Posted: 27 Jun 2020 12:17 AM PDT Hey guys, I was recently listening to a 'rich dad poor dad' book in which the author describes as money earned from a 9-5 job as '50% money'. he then describes investing as 20% money and business as 0% money. Heres where my question comes in. So as far as i am aware, and depending on how much money you make annually from a 9-5 job and a few other variables, a certain percentage of your paychecks are taxed by the gov which again, can be up to (what ive seen) like 20% (again, depending on how much money you make. the less you make, the less you get taxed). Why does the author of this book say that the money you make from 9-5 jobs is 50% money? as far as i know, the max you probably get taxed is prob around 10-20%. Am i missing something here? Hopefully this question makes sense, any help is greatly appreciated. Thank you all. [link] [comments]  |
| Got to my FI number, but how safe is it to RE in this "climate"? Posted: 26 Jun 2020 04:24 PM PDT I'm not very good with understanding market behavior. People say there's depression coming, I've no idea how they calculate that. So I thought I'd ask ya'll for some advice on this. I got to my FI number + 2 years cash cushion. Now I'm not sure if it's safe to pull the trigger, or if I need to wait a few more years, or need more cash in emergency account... anybody willing to give me some food for thought? Anybody here ready to RE right about this time? What are your thoughts on this? Are you doing it, or waiting longer? [link] [comments]  |
| Retirement calculator that also calculates chances of life expectancy? Posted: 27 Jun 2020 04:49 PM PDT u/screamingv2 talked about such a calculator here, and I was wondering if anyone had the link to the one he's talking about or a similar one. Obviously such a calculator will never be completely accurate but I think it's an interesting concept and worth exploring. [link] [comments]  |
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