Financial Independence Daily FI discussion thread - September 09, 2020 |
- Daily FI discussion thread - September 09, 2020
- When is enough is enough?
- Passive income, high yield dividend ETF. Downsides, risks, pitfalls?
- Pulling back my savings rate to enjoy the little things, but I feel guilty.
- What should I Do with money im saving for taxes.
- Weekly Self-Promotion Thread - September 09, 2020
| Daily FI discussion thread - September 09, 2020 Posted: 09 Sep 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]  |
| Posted: 08 Sep 2020 08:16 PM PDT I pretty much worked alone my whole life. I think it better that I do not work with others at least I tell myself that but I am tired. I left a rehab hospital after an big car accident with about 60 dollars to my name at 26. Mid 50s now and have well over a mil. I don't have big spending habits. The want is financial independence but when you get it how do you let go? [link] [comments]  |
| Passive income, high yield dividend ETF. Downsides, risks, pitfalls? Posted: 09 Sep 2020 03:20 PM PDT So I was looking at possible ways to generate passive income with smaller amounts of capital and I came across the ETF SDIV, and it seems too good to be true. I'm definitely a novice investor, but why shouldn't I just be stashing everything I can into this and reinvesting the dividends until I get a monthly distribution that I can live on? [link] [comments]  |
| Pulling back my savings rate to enjoy the little things, but I feel guilty. Posted: 08 Sep 2020 09:48 PM PDT Hey all, Let me start off by saying; I've always been a saver and an investor and been following this sub for the past few years and in that time I've saved a lot of money. I've always been good about saving my money by not eating out, cheap meal prep, and having cheaper hobbies. Starting this year, I got into my a new job and make some great money and have very little expenses. I am very lucky and very grateful that I am still able to work despite all of the circumstances. With my job, I can invest about $2000 a month, and spend about $500 a month on expenses here and there, but I live at home and want to buy a house/ duplex to rent out in the next year or two, that's my goal which I can see it quickly approaching so long as I stay the course As for the last few months, I've been working hard, extremely hard, and finally got some time to use a few vacation days for a much needed break. I'm really into cycling and I bought a new bicycle (approx $1300), but I struggle with the willpower (if I can even call it that) to forgo the money I could be saving/invest for something for myself. It's not that I won't make the money back but I always feel a guilt when I could be saving despite being able to afford it. My goal to FIRE is a long one, but how do you stop and smell the roses and enjoying your money from time to time? Do you set savings goals to spend money? Do you allow yourself weekly expenses eating out and taking trips? Thanks all. [link] [comments]  |
| What should I Do with money im saving for taxes. Posted: 09 Sep 2020 03:35 PM PDT For a while i have been trying to become self employed and putting away %15.3 each month to taxes. I have noticed im starting to incur a decent amount. Should i just keep it in a high yield savings with American Express or deposit into a brokerage buying the ETF VOO S&P 500 or DOW? I already own some SPDR SPY but thats from investing budgeted from my monthly income. VOO would be strictly for money being held for tax time and be able to be liquidated at any point. What do you guys think? Just hold in Vangaurd ETF just until tax time? Probably wouldn't be a full calendar year so would have to pay %40 in capital gains. I understand at tax time the stock market might not be in the best state for whatever reason but as long as I hold for long term growth throughout the year I believe it would be higher from when I deposited. [link] [comments]  |
| Weekly Self-Promotion Thread - September 09, 2020 Posted: 09 Sep 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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