Financial Independence Daily FI discussion thread - August 19, 2020 |
- Daily FI discussion thread - August 19, 2020
- Mental health, the constant desire to work harder and also comparing yourself to others
- Advice on an unusual CARES Act opportunity
- Weekly Self-Promotion Thread - August 19, 2020
| Daily FI discussion thread - August 19, 2020 Posted: 19 Aug 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]  |
| Mental health, the constant desire to work harder and also comparing yourself to others Posted: 18 Aug 2020 06:14 PM PDT For starters let me provide some context so I can attempt to explain where i'm coming from. I'm 29, im recently in a new job earning 130K (very stoked and proud of getting here) I've got 64k in the stock market (24 in roth, 40 in stocks), 60k in crypto's and 70k in the bank. I work hard. I freelance on top of my full time stuff, I freelance on top of freelance, i'm often rebalancing my portfolio and looking for any and all ways I can make some extra dough, like selling things on facebook market or doing quick design gigs for friends. I enjoy work, I enjoy setting goals and meeting them - and learning through the process of sending cold emails and outreach and working with teams and being responsible and challenging myself - it's all part of what makes you better overall. But I also feel myself further from being able to ever really relax. I so badly want to be a millionaire in my early thirties and I know I can, and I know I'll have to put in the work for it - but at the same time it's like i've forgotten how to take a break sometimes. The older over gotten i've also realized the importance in really putting time in strategy before executing, and I need to transition away from the go go go work work work mentality but it's difficult. I have two friends who are younger and older than me who both made a million off the crypto come up, and id be there too if I simply held the investment (although at that point in time a few years ago, I had essentially no savings and was not doing so hot financially and had to liquidate what I had for rent) and I sometimes find myself sulking in that fact. It's unfair to play the woulda shoulda game, but knowing how hard i've worked for what I do have now - it's aggravating thinking I could have had even more than my current net worth by literally just letting time pass. This post is really just me aiming to start a dialogue with people who might have had similar struggles of really just consuming themselves in work - for better or worse, and their findings and how to keep your mental health in check while you're on the financial journey. Thanks and any input is appreciated [link] [comments]  |
| Advice on an unusual CARES Act opportunity Posted: 19 Aug 2020 02:21 PM PDT Longtime lurker here, 27M. I've saved diligently in my company's Roth 401k. When I started working at 22, I never really saw myself living in one spot or needing money in the near future. Well, fast-forwarding a few years, now I'm considering a home purchase. Only thing is that I've shoveled most of my net worth into retirement. At the beginning of this year, I moved the 401k assets into a PCRA (a self-directed brokerage account that resides within your employer plan) so that I could be a bit more active. I got relatively lucky on crypto-related stock plays recently (no cap gains tax!), and would have enough for my home goal were it not in retirement. The CARES act allows for affected individuals to make withdrawals up to 100k from their 401ks without the 10% penalty this year. There is no tax because it's Roth. Am I missing anything here or can I use contracting Cov-19 earlier this year as an opportunity to cash out scott-free? [link] [comments]  |
| Weekly Self-Promotion Thread - August 19, 2020 Posted: 19 Aug 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]  |
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