Financial Independence Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - June 29, 2020 |
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - June 29, 2020
- Daily FI discussion thread - June 29, 2020
- Differences in Retiring in the US versus EU/UK?
- Feeling guilty over justified purchases?
- Weekly FI Monday Milestone thread - June 29, 2020
- Changing assumptions/strategy to burn down to $0?
| Posted: 28 Jun 2020 11:08 PM PDT 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]  |
| Daily FI discussion thread - June 29, 2020 Posted: 29 Jun 2020 01:10 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]  |
| Differences in Retiring in the US versus EU/UK? Posted: 29 Jun 2020 06:07 AM PDT This might not be quite the right place for this question but I'll ask anyways. How does retirement work/look differently in the US versus in Europe, the UK, or Australia? Not even early retirement specifically, just in general. In the US, its all about your 401K and Roth and personal investments. The idea being that you need to make your wages count early on to continue providing for you when you're old and can't/dont want to work. However, I know that wages in the US are much higher than elsewhere. If you are living and working in the EU, with intentions to retire there as well, do you rely on the same/similar formula as a US worker or is there a better presence of social programs and private pensions still available? Asking as I am eligible for dual citizenship and would love to move abroad at some point. I am not sure if the move could be permanent or not and this question might help solidify that [link] [comments]  |
| Feeling guilty over justified purchases? Posted: 29 Jun 2020 05:00 PM PDT I currently have $50 of clothes sitting in my online shopping cart. I spent the last hour trying to decide if I should fill the order or wait until some later date, unsure if I really NEED new clothes. I just bought some new clothes last month, but before that I can't remember the last time I went clothes shopping. Since quarantine started, I'm spending significantly more on products for my home and myself instead of experiences with friends. My overall spend remains about the same, yet, I'm starting to really overthink my purchases. The thing is, $50 is something I can easily afford. I recently got a promotion at work and have nearly doubled my salary in the last year. I've gone from saving a couple hundred per month to a couple thousand. Since then, I've bought furniture that in hindsight seems necessary, but previously seemed like a luxury. I upgraded my 4-year-old water-damaged laptop that seemed to work fine (if I was lucky enough to power it on) but now seems unusable. I've stopped buying regular orange juice and switched to fresh-squeezed because I love the taste, but now the regular orange juice I used to drink tastes worse. My question is this: how do you find a balance between enjoying your money while still recognizing and preventing lifestyle creep? How do you justify purchases are actually worth it? Everything I buy seems and feels completely justified after looking back over my credit card statements, which I check along with my bank statements almost daily. But somehow watching that adding total grow and having to pay the bill at the end of the month has me under constant mild stress. I feel moderately obsessed with achieving fire as soon as possible, and count everything I buy for myself as a delay. I understand that time is the biggest factor in compound interest, and even spending an extra few hundred a month won't significantly impact my fire date - but I'm afraid making easy hundred dollar exceptions could open the flood gates and start to add up fast. How do you stay at peace with your personal value system while on you're fire journey? [link] [comments]  |
| Weekly FI Monday Milestone thread - June 29, 2020 Posted: 29 Jun 2020 01:10 AM PDT 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]  |
| Changing assumptions/strategy to burn down to $0? Posted: 29 Jun 2020 05:18 PM PDT I really enjoy reading the FIRE sub - it's one of my fav next to r/Stoicism. The FIRE journey is something I've been planning and executing for about 10 years now. I seem to be going strong and all things normal, 50 FIRE seems pretty possible. The resources and models on the site have been great and helpful - and the conversations keep me focused at the goal. That said, there has always seem to be a gap in standard tools for my situation and wondered about a model that promotes a steady burndown to zero by a particular age. Risky, sure. Given my particular situation, I have no need to "leave" anything behind. No kids, no family, and a partner I think we've got set with appropriate insurance policies (on me). I understand I can't predict when the end will come or the level of expense at the ripe old age of 104 or something crazy. That said, most models and scenarios show some "indefinite" yield which the principle is never depleted. Maybe that is great for those with an estate to pass down, but I just see it as waste. Any suggestions in various strategies to leverage for planning or changes in assumptions? Few things came to mind: - Set typical withdraw rate at a higher value to burn down assets over time, thus F.I. earlier? (4, 5, 6%?) - Aggressively dump into an annuity with full forfeit rights upon death? (pays super well since companies know they will get paid when I die) - or just be prepared to spend more later in life and deal with it Thanks for any feedback - did some searching across threads but couldn't find anything that fit the bill but assume its been talked about several times. [link] [comments]  |
| You are subscribed to email updates from financial independence / early retirement. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment