Financial Independence Daily FI discussion thread - August 28, 2020 |
- Daily FI discussion thread - August 28, 2020
- Do you rent even if you can afford to buy a home?
- What are the work arounds and must-knows for withdrawling 401k and IRA funds in early retirement?
- Weekly FI Frugal Friday thread - August 28, 2020
- What's the difference between starting a business and trading options?
| Daily FI discussion thread - August 28, 2020 Posted: 28 Aug 2020 01:08 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]  |
| Do you rent even if you can afford to buy a home? Posted: 28 Aug 2020 04:06 PM PDT My partner and I are kind of at a crossroads where we're planning on how to save for the next 4-5 years. We live in a HCOL where median cost of home is $900k, and our target might be homes around $1.2-1.5m. We could reach $250-300k for that down payment over the next 4-5 years, but part of me wonders whether we should just plan to rent forever, invest in index funds, and if there's a good opportunity 5+ years down the line, we can buy a home then. At the same time, we do have a goal of retiring early, and we're not sure what path to take that will get us there. Or perhaps we could rent until early retirement, and settle down in a cheaper area. [link] [comments]  |
| What are the work arounds and must-knows for withdrawling 401k and IRA funds in early retirement? Posted: 28 Aug 2020 02:32 PM PDT In light of a recent post, the topic of retiring early and withdrawing 401k and IRA funds was brought up. As an FI newbie, I was hoping we could have a detailed discussion on withdrawing money once FI has been reached. How are early withdrawal and tax penalties avoided? Is it even reccomended that we pull from 401 and IRA accounts at a pre-mature age or are there other investment methods that should be used? Thanks in advance. [link] [comments]  |
| Weekly FI Frugal Friday thread - August 28, 2020 Posted: 28 Aug 2020 01:08 AM PDT Please use this thread to discuss how amazingly cheap you are. How do you keep your costs low? How do become frugal without taking it to the extremes of frupidity? What costs have you realized could be cut from your life without pain? Use this weekly post to discuss Frugality in general. While the Rules for posting questions on the basics of personal finance/investing topics are more relaxed 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]  |
| What's the difference between starting a business and trading options? Posted: 28 Aug 2020 04:46 PM PDT Potentially a really stupid question, but for those who become entrepreneurs for the sake of becoming rich, what's the difference between that and aggressively trading options? Aren't you essentially gambling in both scenarios? Both cases are high risk, high reward, except trading options doesn't take nearly as much effort as starting a business. Maybe trading options could make you wealthier than starting a business if you put in enough research into your investments. [link] [comments]  |
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