Financial Independence Daily FI discussion thread - December 08, 2020 |
- Daily FI discussion thread - December 08, 2020
- Math of healthcare subsidy versus maxing out the 0% bracket for tax-gain harvesting?
- Accredited investor Status via educational institution?
- How do I invest without risk?
- Is financial independence something you can obtain while still maintaining Hobby’s or other interests?
| Daily FI discussion thread - December 08, 2020 Posted: 08 Dec 2020 12:08 AM PST 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]  |
| Math of healthcare subsidy versus maxing out the 0% bracket for tax-gain harvesting? Posted: 08 Dec 2020 11:05 AM PST So, I recently pulled the trigger and am at least going to be taking an extended sabbatical, and am currently in the process of signing up for health insurance for 2021. I'm starting to do some math to figure out whether it's worthwhile to set income at the ~60k level to get some subsidies, or fill up all the way to ~80k in order to tax-gain harvest the last 20k. I'm in MA so some ACA things are a little more complex for me, and nobody can give me a straight answer but apparently if my income stays under ~$61k I think I get a health plan that costs $150/mo directly through the state? I'm 36 and my wife is 47 if it matters. We expect to spend ~50k/year before health insurance premiums, and the first set of investments that will be sold for rebalancing purposes have a cost basis of ~$0, so 100% of it will be capital gains. There's multiple years of those $0 basis gains to go through. I'm curious if anybody else has had similar situations and made a decision one way or the other? I'm leaning towards filling up the tax bracket and maxing out gain harvesting in lieu of the subsidies, just because I have so many gains. I realize I'm rounding some numbers here, probably erroneously. This isn't necessarily a "specific advice for fryguy8" post, this is a "what have other people in maybe similar situations done" post to hopefully be more broadly educational. [link] [comments]  |
| Accredited investor Status via educational institution? Posted: 08 Dec 2020 12:59 PM PST So I make a ~150k per year, but I'm not at the ~200k per year required to be an accredited investor yet. I would love to put a portion of my investments in pre-ipo companies. I was reading over the new revised 2020 SEC accredited investor terms, and one caught my eye: "a natural person who has certain professional certifications, designations or credentials or other credentials issued by an accredited educational institution, which the Commission may designate from time to time. Presently holders in good standing of the Series 7, Series 65, and Series 82 licenses." (https://en.wikipedia.org/wiki/Accredited_investor#United_States) Since this just came out, I'm finding very little about it on the internet so far. Does anyone know what this actually means in practice? Can I take a class at a University and become accredited? [link] [comments]  |
| Posted: 08 Dec 2020 03:48 PM PST I have $120k in cash and I feel terrible for letting it sit in a savings account. I have looked a lot at buying a home and I feel like not having to pay rent anymore would be a huge leg up but I can't do that for atleast another year due to my job. How can I make my savings work for me without feeling like I'm gambling? [link] [comments]  |
| Posted: 08 Dec 2020 11:51 AM PST I have seen so many posts of people burning themselves out because they just work and save. Many others of people detailing how every spare penny is invested. I Am not trying to say these people are wrong, but I wonder if it's for me. I have always been a naturally frugal person. My dad often jokes I am the best with money in the family. He also tells me though I am to frugal and I should be using my youth to figure out what I like doing and be a little less concerned with my money. I'm 24, I want to travel, I want to learn to surf, I am interested in maybe getting into table top wargamming. I could just bunker down and invest every spare cent I get. I'm a pretty straight forward person and don't want or need lavish things. I could live like a college student for the rest of my life and be happy with that, so every extra penny that doesn't go third basic living necessity's is invested. But I feel like I would waste my youth, my freedom that I will only have now, the weight of an older body or a family not holding me down. So is fire still something I should/can pursue? Or if I want to explore other possibility's should I put it on the back burner. I'd be ok with doing both if it just meant I might retire a bit later. [link] [comments]  |
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