Financial Independence Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - September 21, 2020 |
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - September 21, 2020
- Daily FI discussion thread - September 21, 2020
- Economics Explained YouTube Channel Does Explainer on FIRE
- Weekly FI Monday Milestone thread - September 21, 2020
- RE Then Return To Work When Older?
- Does commercial real estate sound better for FIRE?
| Posted: 20 Sep 2020 11:08 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 21, 2020 Posted: 21 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]  |
| Economics Explained YouTube Channel Does Explainer on FIRE Posted: 21 Sep 2020 09:22 AM PDT I just watched this video put out by Economics Explained that I felt did a decent high level view of FIRE and the potential macroeconomic effects of it. I thought it'd be interesting for those of us here as well as potentially a good resource to put into our wiki/sidebar. [link] [comments]  |
| Weekly FI Monday Milestone thread - September 21, 2020 Posted: 21 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]  |
| RE Then Return To Work When Older? Posted: 21 Sep 2020 03:48 PM PDT I've been working non-stop for years without days off or a vacation which has left me burnt out and interested in FIRE. All of my time working has left me feeling like I'm missing out on seeing my three kids grow up. I can't really ease up in my current job, which left me thinking about coast FIRE. But the prospect of spending 10 years working in a low paying job to gain days off and vacation in order to offset 2 years in my current job doesn't seem like a good choice. My current NW is about $1.2M at age 36 (not counting my business valuation, which is too complicated of a situation to bring into calculations) out of a goal of $3.3M to support inflation-adjusted $100K per year. An alternative plan occurred to me today of a bit of reverse coast FIRE. If I retire in about a year from now then I should have at least $1.5M and have a very high risk of running out of money before I die. But if I retire for only 18 years, I can see my kids grow up until they move out and enjoy my time off while I'm young. Then my house will be paid off and kids will be gone and I could go back to work. If the market did well enough, I might not need to return to work, although I probably would. If I can work for 5 years while earning enough to cover my expenses with a paid-off house and no kids to support, then my IRA will be worth $1.15M when I'm 60 with a 6% annual return over 23 years. My house is worth $650k today and I'd have that equity. Potential bonus: I have state pension credits which currently would allow me to pull in about $9000 per year when I'm 65. But due to the way the retirement system works (assuming it doesn't change), if I go back to work for the state for 5 years in 18 years, I'll get 32% of my salary at that point in time. So if after 18 years of inflation I made what could be an entry-level position salary of $75k (I'd start high on the pay scale to due past service), then I'd boost my pension to $24k per year in just 5 years of work. I can't necessarily rely on being able to be hired by the state though. The plan seems to make sense except it seems much higher risk than normal FIRE. If normal FIRE starts to look unsustainable, you can go back to work for a bit to offset it or cut spending to keep things on track. By not front-loading my investments, I'll lose out on compound interest and greatly reduce my nest egg on the back-end. It will be harder to predict where my IRA will be in 18+ years. I won't know if I'll have medical conditions which could increase my expenses and make it impractical to return to work. But the benefits are appealing. Is this idea crazy? [link] [comments]  |
| Does commercial real estate sound better for FIRE? Posted: 21 Sep 2020 03:43 PM PDT Has anyone thought about using commercial real estate fund their early retirement instead of primarily index funds? Assuming the asset doesn't have a mortgage, a paid off apartment complex with property management or warehouse with NET leases sounds really appealing. Most of the properties I've looked at have a 5%-7% cap rate where I live. That would be $50k-$70k on a 1 million dollar property. Isn't that a lot better than 3% SWR without having to worry about depleting the principal? Apparently real estate is also much better for taxes, maybe an accountant can confirm this? Obviously, it's not as passive as an index fund but would you trade semi-passive for a bit more income?? [link] [comments]  |
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