Financial Independence Daily FI discussion thread - August 29, 2020 |
| Daily FI discussion thread - August 29, 2020 Posted: 29 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]  |
| COVID may force my hand to be FIRE (sort of) Posted: 29 Aug 2020 02:58 PM PDT Long story short, while we are not 100% FI yet, spouse and I are in an excellent position so far -- own our home outright, have (low) seven figures in savings in both pre- and post-tax accounts (although VHCOL area) not counting 529s for kids, and spouse's job has ironclad health benefits. Windfall to come in a few years due to family generosity which would mean genuine FI, and this is not speculative (i.e. the paperwork is done and I have it). We have two young kids, and our district will be doing a hybrid model to start. There needs to be an adult to help the kids with the remote part -they are too young to do it themselves, period. We have no plans to hire someone, spouse must work in person, and grandparents are not a realistic option. I have been working professionally my entire adult life, but have come to really hate my job - extreme anxiety, not rewarding, and frankly, the money is no longer commensurate with the stress. I am working from home now, and will have to be the caregiver as well for this upcoming school year. My job is also not exactly compatible with being with the kids most of the day, unless I work till 2am every night. I feel like on paper this is a no-brainer to quit my job and focus on the kids -- and my hand may be forced. But the years of work, of professional responsibility, societal pressure to keep working/not just quit, fear of the professional unknown and where/how to get back in (not easy in my profession) and the fact that we are thisclose to having the FIRE $$ in hand due to windfall (but not just yet) are making me hesitate, or at least feel very conflicted about making peace with the fact that shit happens and I may just have to quit without being FI just yet. Any thoughts, support, constructive criticism, etc., is welcome. [link] [comments]  |
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