Financial Independence Daily FI discussion thread - August 13, 2020 |
- Daily FI discussion thread - August 13, 2020
- Has anyone considered Puerto Rico to help boost FIRE?
- How much would heath insurance cost in the US in early retirement?
- I’m burnt out at work. Thinking about quitting my job.
- Advice for an aspiring financial advisor
- Balancing short investment horizon vs. need for portfolio growth
- Has anyone considered UAE, Qatar, Oman, etc...to help boost FIRE?
| Daily FI discussion thread - August 13, 2020 Posted: 13 Aug 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]  |
| Has anyone considered Puerto Rico to help boost FIRE? Posted: 13 Aug 2020 11:00 AM PDT EDIT: I forgot to mention I work remotely. Any income for 4% needs to be done IN PR and exported to not PR I was wondering if anyone has thought about moving to Puerto Rico to take advantage of the tax breaks? Being a territory they have a unique exemption in the tax code where any PR sourced income is not subject to IRS to PR residents. Obviously this entails uprooting your life to live in a relatively foreign place. But healthcare here is low, weather is great and I get 4% taxes total. I do have to pay myself a salary, which is subject to FICA but that's not a crazy amount But you would need to set up a LLC here and be paid as a 1099. Of course you can live elsewhere and take advantage of FITC and get the first like $180k tax free from US. But I didn't want to go that route. [link] [comments]  |
| How much would heath insurance cost in the US in early retirement? Posted: 12 Aug 2020 07:01 PM PDT What would the cost look like for a family of 3? What kind of healthcare costs would you expect to pay? Is anyone here currently fire and beyond COBRA or a partner's insurance? How much are you paying yearly? Saw this on fatFIRE and the results were usually 20k+ a year...that's basically all of my living expenses combined for a year. Hoping the answer is lower here. Edit: Wow, eye opening and also some great suggestions for getting insurance post-FI. I'll definitely have to try implementing some strategies I learned here to lower expenses while getting quality care. I'm very up for moving, within US preferably or to some extent outside. It'll be more and more of a concern as we all approach our FI-dates. [link] [comments]  |
| I’m burnt out at work. Thinking about quitting my job. Posted: 12 Aug 2020 09:52 PM PDT Thanks to FI I have saved up at least 6 months of living expenses but I'm afraid to quit my job. I have to work 60 hours a week doing something that I hate. It used to be a normal job but we're forced to work more hours to keep up with the increasing workload. I was hoping that working hard would allow me to retire early but I don't know how long I can last. I feel dead inside and can't see the point of doing anything. I wake up, stare at the screen, wish I could end it all. Especially on Sunday night I get anxiety. But I think about my savings and realize I don't have to do this to myself. I don't have a wife or kids. Why can't I just man up and stop being a bitch to my boss? Other people have complained but they're too scared to quit because they have family to take care of.
I think if I quit, I could actually focus on something other than work instead. I can get enough sleep and not wake up with panic attacks wondering when I can retire. Does anyone else face a soul destroying job? Is it even worth getting an early heart attack just to make more money even though I don't actually need the money to survive? How many months of savings do I need before I can quit? If I had 5 years of savings I would quit yesterday and never worry. Edit: For people telling me to only work 40 hours I'm on a performance improvement plan because my output is not good enough but this only started after the workload increased. They've already called me out on this which is why I can't just scale back without getting fired. I have already started looking for another job but my vacation requests keep getting denied. [link] [comments]  |
| Advice for an aspiring financial advisor Posted: 13 Aug 2020 03:40 PM PDT Are there any advisors on here, especially those who are fee-only? I need some sage advice from someone who knows the game... PM me if you are open to mentoring my first few baby steps. [link] [comments]  |
| Balancing short investment horizon vs. need for portfolio growth Posted: 13 Aug 2020 05:55 AM PDT I presume that most people who are going for RE are younger than those who aren't, and this means they have had shorter time to invest. And yet because they are planning to retire early, their investment horizon is also shorter than those who would retire more traditionally. This means to achieve their goals, they must have faster portfolio growth while simultaneously being in a position where it is unwise to be as risky as a longer term investor. It seems like a case of wanting to have your cake and eat it, but I am curious whether there's a way to balance this risk that is more tailored than general advice like "don't go all equities if <10yrs horizon", etc.. Maybe there's a way to eat a certain portion of your cake and have the rest. Of course there is no crystal ball, but is there a calculator or a model out there that will try to estimate this balance? [link] [comments]  |
| Has anyone considered UAE, Qatar, Oman, etc...to help boost FIRE? Posted: 13 Aug 2020 02:03 PM PDT Saw someone post about achieving FIRE through living in puerto rico, so the middle east came to mind. I was wondering if anyone has thought about moving to either UAE (Dubai, Abu Dhabi), Qatar, Bahrain, Oman, etc... to take advantage of the tax breaks? 0% tax if im not mistaken (from most countries), assuming you're not paying tax living abroad I know United Arab Emirates in general has a really high expat population. I have always considered Dubai in general, as I think living in city like that for a few years and earning well would be worth it, plus proximity to travel destinations, and other unique opportunities. [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