Financial Independence Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - September 07, 2020 |
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - September 07, 2020
- Daily FI discussion thread - September 07, 2020
- Building a machine instead of a stash
- How to think about FIRE when in a relationship with major income disparities?
- Weekly FI Monday Milestone thread - September 07, 2020
| Posted: 06 Sep 2020 11:09 PM PDT Need help applying broader FIRE principles to your own situation? We're here for you! Post your detailed personal "case study" and ask as many questions as you like, or help others who've done the same. Not sure if your questions pertain? Post them anyway…you might be surprised. It'll be helpful to use our suggested format. Simply copy/paste/fill in/etc. But since everybody's situation is different, feel free to tailor your layout to your needs. -Introduce yourself -Age / Industry / Location -General goals -Target FIRE Age / Amount / Withdrawal Rate / Location -Educational background and plans -Career situation and plans -Current and future income breakdown, including one-time events -Budget breakdown -Asset breakdown, including home, cars, etc. -Debt breakdown -Health concerns -Family: current situation / future plans / special needs / elderly parents -Other info -Questions? [link] [comments]  |
| Daily FI discussion thread - September 07, 2020 Posted: 07 Sep 2020 01:09 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]  |
| Building a machine instead of a stash Posted: 07 Sep 2020 01:50 PM PDT \or, on top of a stash.* The Idea: Build a business you can walk away from. The Context: My wife and I run a small marketing business that makes $200k per year. Our profit margin is ~70%, and we pay ourselves $50k/yr each. I also have a FT role ($75k) with a startup. We spend $50k, but our FIRE goal is to be able to sustain $75k per year. With 2 little kids, our goal isn't necessarily to build up as much as possible and then retire completely. It's to optimize our time so we get as much time with them as possible. The Breakdown: With our current numbers, it would take ~9 years to invest enough to sustain $75k/yr. OR we could take the next 2 years to get our business to the point where it can support 75% of the salary at 25% of the effort (~15 hrs per week). It would take a lot to get there: systems, training, higher pay, and hiring a full time employee to act as an account manager. But I believe we could get there in 18-24 months. And, since I have my startup salary, we could still continue to build our stash. The Upshot: It would mean a much lower profit margin, but also a much lower time investment after the next couple of years. Questions for ya:
[link] [comments]  |
| How to think about FIRE when in a relationship with major income disparities? Posted: 07 Sep 2020 04:47 PM PDT So I've been thinking about this a lot and wondering what y'alls opinion is: Let's say someone is in a long term, adult relationship and their SO has significant more access to wealth via family means/inheritance than the other person. Now the couple is solid and plans on a future together but one is significantly more independently financially secure, particularly when it comes to their future inheritance, than the other. Should the poorer SO continue to be frugal and save just in case in a decade or so the relationship falls through? Should there be some kind of conversation about going in on a future together and what happens if there is a split up? I just foresee the wealthier one wanting to do things that cost more because, well, they can and the poorer one having a hard time saving appropriately. I have also hear a lot of terrible stories recently about people after divorces all of a sudden having very little if any retirement because as a married unit, it was agreed upon that their future was combined. Thanks in advanced for your thoughtful replies! [link] [comments]  |
| Weekly FI Monday Milestone thread - September 07, 2020 Posted: 07 Sep 2020 01:09 AM PDT Please use this thread to post your milestones, humblebrags and status updates 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! 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]  |
| You are subscribed to email updates from financial independence / early retirement. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment