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    Tuesday, April 6, 2021

    Financial Independence Daily FI discussion thread - Tuesday, April 06, 2021

    Financial Independence Daily FI discussion thread - Tuesday, April 06, 2021


    Daily FI discussion thread - Tuesday, April 06, 2021

    Posted: 06 Apr 2021 02:00 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.

    submitted by /u/AutoModerator
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    Reddit PSA: Beware of unsolicited message requests

    Posted: 06 Apr 2021 04:54 AM PDT

    I'm posting this here because the scammers who reached out to me said they did so after seeing a comment i made on this sub, so i know they are lurking here and probably attempting to prey on others here.

    The last few days I've been getting unsolicited PM requests. This started right after a comment i made on a post in this sub, and one even said they had seen my comment. They are obvious scammers, complete with broken english sentences vaguely talking about some business opportunities. Be aware that it is out there and stay vigilant. i know 99% of the people here are smart enough to not get scammed, but they play a numbers game and enough people must be falling for it that they are hitting up users in this sub more often.

    submitted by /u/penguindows
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    Health insurance options for early retirees

    Posted: 06 Apr 2021 04:33 PM PDT

    What are some good alternatives for health insurance benefits if you plan to retire early?

    Open to any suggestions, either for US citizens living in the US and/or traveling abroad.

    submitted by /u/shahedc
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    Assets that can be purchased with $20,000?

    Posted: 06 Apr 2021 04:30 PM PDT

    I am currently in the process of reading Rich Dad Poor Dad, which has gotten me pretty fired up about assets. There's obviously the stock market, but I'm specifically wondering if you can get your foot in the real estate door with 20 grand. I'm aware of the FHA loan, and I haven't used mine as I just turned 18 a few months ago and am still I'm high school. I guess why question is, if you had to start over building assets with $20,000 what would you do?

    submitted by /u/johnturley
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    I am 24 and inherited 300k EUR. What should I do with it?

    Posted: 06 Apr 2021 03:48 PM PDT

    Hey there,

    I am thinking about investing it but to be honest have no idea about it. Should I talk to my bank? Its better to do it online as the bank takes high fees right?

    Also what amount of money do you need to be able to live off the returns of the investment?

    thank you for your help guys.

    submitted by /u/poma7
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    Does your FIRE budget include taking care of your elderly parents?

    Posted: 05 Apr 2021 06:04 PM PDT

    Hi, Crosspost from leanfire sub, something I don't see often in this sub or other FIRE subs is the budget does not include taking care of parents financially as they get older. I recently realized this myself as I got older and my parents are now relying on me to help take care of them. In the past, they lived with me but I had to move for work and now I am partly paying for their rent + utilities + groceries.

    Now, I did move to US with my family as immigrants back in the 90s. My mom was a stay at home mom and never really worked in her life and my dad has worked but has been unemployed and used up all of his savings. The only thing keeping them afloat now is social security but that barely covers their rent due to shitty low wage jobs.

    Am I to assume most people in the sub don't budget or add additional expenses for elder parents, even if they have to go into a nursing home or medical costs? I've seen a post a few months ago about someone who had a few million, was debating if he should buy his mom a house because she worked hard all her life, and he got downvoted to shit. At the same time, whenever I see budgets and breakdowns, I never see this kind of expense accounted for. Just like the tech stereotype, do most redditors here come from middle-class families and don't have to worry about it? What am I missing here?

    submitted by /u/xenaga
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    Advice for a 16 year old

    Posted: 06 Apr 2021 03:39 PM PDT

    I was always interested on preparing myself for the future and I, currently maintained by my parents, save as much money as I can. I am from Argentina, a declining country regarding its economy and I have thankfully been taught English which has uncovered a huge amount of opportunities for me. I always think of life as some kind of videogame in which first you prepare and then you progress through it. I am in that early stage of preparation and my question is if you could lend me some piece of advice or recommen certain books or YouTube channels regarding learning certain habits or behaviours which can help in the long term/investments. Anything will be much appreciated

    submitted by /u/APT__007
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