Financial Independence Daily FI discussion thread - August 06, 2020 |
- Daily FI discussion thread - August 06, 2020
- From r/philosophy: Bertrand Russell's idea on the importance of leisure
- How financial freedom or pursuit of it just saved my A**
- Receiving $13,000 from my grandma to pay half of my car
| Daily FI discussion thread - August 06, 2020 Posted: 06 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]  |
| From r/philosophy: Bertrand Russell's idea on the importance of leisure Posted: 06 Aug 2020 07:24 AM PDT Saw this in r/philosophy and thought it'd prompt an interesting discussion here. My takeaways:
https://www.newstatesman.com/2020/08/why-bertrand-russells-argument-idleness-more-relevant-ever Edit: Spelling [link] [comments]  |
| How financial freedom or pursuit of it just saved my A** Posted: 06 Aug 2020 01:38 PM PDT So here I am, Friday, July 31, at 9:02 AM EDT. I Tell my salesman that I'm coming by at noon to pick up my new 2020 Z900. I sold my bike before I deployed and I've been itching to get another. Finally, I decided to take the plunge. I sent him pictures of my license info whatever he needed. At 9:53.... I'm laid off permanently. No furlough, just done. And then I'm humiliated by my boss escorting me to my desk to get my crap and leave. Then an hour later, I was called by my co worker and was told the same happened to him and two others. After it was all said and done, seven good people lost their jobs in an instant. No warning or indication. All company emails are saying how good the company is doing now and how much business we are booking. But all the answers we got during our separation was corporate restructuring. Now where am I going with this? I'm glad you asked. I am currently not worried. Maybe a little? But I'm sleeping just fine knowing I have around a quarter million I can withdraw from. I know not everyone is as fortunate as me. There are so many families out there that are struggling because they have no savings or investments like many of us do in this community. I would be petrified if I was in that situation. The idea of financial independence is so powerful and I wish it was taught in the school system. Workers should not have to be so dependent on employers and get cast aside so easily. It's BS. I know I'm not special by any means, but so many days I put in at the office and over time worked just to be cast out like garbage. It hurts bad. Overall I'm just saying spread the message of financial independence. You could end up saving a family from extreme hardship. Thank you Warren Buffet for getting me into investing at 16 during the Great Recession. For the record, I'm just a customer service rep / inside sales... or was. Ironically enough, the wife's last day of work was Friday as well. She's going back to school to be an RN. Corona has inspired her to help people and I couldn't be more proud <3. Edit: lol no I did not end up getting the bike. I couldn't justify it. I'll get one when I start working again. [link] [comments]  |
| Receiving $13,000 from my grandma to pay half of my car Posted: 06 Aug 2020 02:43 PM PDT I recently graduated college and my grandma told me that she'd pay for half of a new car for me. I got a 2020 Camry (0% interest) for $26,000and have monthly car payments of $456/month. My grandma is going to give me a lump sum payment of ~ $13,000 to pay for half of the cars value and insists that I put down that amount into the car. She has the mindset to get rid of this debt ASAP and is encouraging me to pay this car off very aggressively, however I am hesitant to throw so much money into a depreciating asset like this new car I have. If you were in my position, would you throw all this money into the car or throw some of into a brokerage account/index funds. I've already maxed out my IRAs for 2019/2020 and think that this much cash could be invested elsewhere instead of the car. Thoughts? [link] [comments]  |
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