Financial Independence Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - October 19, 2020 |
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice. - October 19, 2020
- Daily FI discussion thread - October 19, 2020
- I'm quitting soon. No, I'm still far away from FIRE.
- Questioning International Asset Allocation
- What careers/jobs do you have?
- Weekly FI Monday Milestone thread - October 19, 2020
| Posted: 18 Oct 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 - October 19, 2020 Posted: 19 Oct 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]  |
| I'm quitting soon. No, I'm still far away from FIRE. Posted: 19 Oct 2020 08:54 AM PDT Just wanted to share a realization I've had after my recent therapy session. I'm hoping what I write will reach someone who's also in similar shoes. I loathe my job. Waking up on five out of seven days of my weeks is a chore in itself, when I know I have to spend the rest of the day on something I hate. There was a time when I liked doing it, being good at it, and being paid well for it. But now I feel unmotivated, lethargic. I feel like what I do now is so inconsequential to the world - I wanted to do something with more meaning. I have cycles of feeling neutral then negative at work. Recently, I've been at a low point, which is forcing me to think about what I want and what I should do. But I kept going on because it paid well and every day slogging through inched me closer to FIRE. I've realized this a year or so ago now, and my action was to start a Master's degree at a field I think I would like, and it's being going well so far. I love learning this new field, and I feel like I could make real change happen if I get good with it. It's been a long time since I felt genuine excitement and curiosity and the want to learn and push through with it. I was thinking, what if I just funded myself, lived on my savings, while I move forward in my degree and dive myself fully into the new field? The risks are that I might not be employable for an unknown amount of time which would have adverse effects on my timeline to FIRE. Being stuck in this dilemma has made me more miserable wasting away my days at a job I hate. It's not even my workplace. They're amazing and supportive. My manager is understanding, everyone's working for a great cause. It's just what I do specifically that I no longer get satisfaction from. Which is making the decision harder - why waste a good job with good people and good benefits? The light on my head lit when I told myself this sentence: Is FIRE worth delaying for n years if the change I'm attempting could make that journey less miserable? What was the point of me trying to free myself from work in the future, if in order to achieve that, I have to enslave myself right now? I am clearly unhappy, and have been for a long time. I think it's time I make the jump. I'm going to be quitting to focus on my studies and prepare myself for my career pivot ahead. I'm lucky enough to have savings to give me the freedom to be able to do this, so I will. I think what I want to try and say is, we all are invested in the FIRE mindset because we want to free ourselves from decisions that we only make because we need to earn the money to eat, live, survive. While FIRE is the penultimate goal, please check in with yourself and ask if you are happy now. Maybe there is a way your money now can give you the freedom you're earning for yourself in the future, now, albeit in a lesser, temporary form. [link] [comments]  |
| Questioning International Asset Allocation Posted: 18 Oct 2020 04:38 PM PDT Like many here I take a diversified approach to to my investments. I put 65% in a total US stock market index and 35% in a total market international index. Over the last 20 years since these funds were introduced by vanguard the international index fund (VGTSX) has seen only 25% growth while the US index fund (VTSAX) has seen 180%. I'm in my early 30's and I'm wondering if I should keep investing fairly heavily in VGTSX or go totally VTSAX or at least a little heavier. I am trying to look at it as "I'm buying VGTSX at a discount/good price" but the 20 year history isn't great and starting to question it. Opinions welcome! [link] [comments]  |
| What careers/jobs do you have? Posted: 18 Oct 2020 02:02 PM PDT Hello. Just curious what kind of work you guys do here. I've been thinking very heavily about going to community college. I am 25, interested in FIRE. I am owner/operator of a service business for 2 yrs now netting approximately 40k. Not much but minimum wage here is also $8.50 and I was only making $12/hr beforehand. MCOL area. I have 35k in savings and 45k in my roth ira and solo 401k accounts. To put it short, I don't think I want to run this business forever. I don't think it's scalable to the point I once imagined. I'll be off my dad's health insurance once I turn 26 so that's kind of scary as well because of the kind of work I do. I've ran hypothetical numbers and to net 60k a yr (I know not much money) and have health insurance I'd need to be grossing very close to 100k. Really don't have a huge passion for anything honestly. I've thought medical field (specifically nursing) because it seems like a guaranteed way to make money. Any ideas? I'm pretty lost but I want to FIRE and make some good money. [link] [comments]  |
| Weekly FI Monday Milestone thread - October 19, 2020 Posted: 19 Oct 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]  |
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