Financial Independence Daily FI discussion thread - Saturday, July 10, 2021 |
- Daily FI discussion thread - Saturday, July 10, 2021
- How do you not make it awkward with non-FI friends/family?
- Putting in my notice at work because it's sucking the soul out of my life. Mini FIRE
- How to FIRE when your spouse doesn't care?
- I cant do this for another 40 years
- Question about the "Timing the market" post to this subreddit from two years ago.
| Daily FI discussion thread - Saturday, July 10, 2021 Posted: 10 Jul 2021 02:02 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]  |
| How do you not make it awkward with non-FI friends/family? Posted: 10 Jul 2021 02:06 PM PDT So with vaccines in arms we are finally seeing family after a year+. And we are now close enough to host at our house for the first time in a decade. It was great. But led to several awkward exchanges that I'm not sure I handled well. Two examples. I have a classic car I've recently restored with my father that we just finished in the last several months. It's in my garage now and hard to miss. It leads to questions. Like how did you afford to do that? What's something like that cost? So on. I try to avoid answering but it's value is obvious. Second example. I'm less than three years out from FI. Plan to change jobs then but I won't have to work thanks to our investments and a military pension. Leads to lots of what is next talk. I don't know yet and so I mentioned options but maybe nothing. Which leads to questions about how is that possible. I am trying hard not to come across as bragging. I'm am the younger in the family group. But we've lived well beneath our means for decades now and saved. The fruits of that are getting very obvious for all to see. Stealth wealth gets harder after a while. So…tips? [link] [comments]  |
| Putting in my notice at work because it's sucking the soul out of my life. Mini FIRE Posted: 09 Jul 2021 04:52 PM PDT I'm a 29M, working as senior QA analyst in a big corp software company in a MCOL city. I'm putting in my notice because I'm burnt out and taking a 6 month long vacation. Got about 200k invested in VGRO. Math says I should be fine financially but this has been a big step for me psychologically. I wanted to quit 4 years ago and again 2 years ago because I didn't want to be in QA but that was decided for me when I got hired by my first boss. I needed the money and had quit my previous job so kinda got stuck in that role without the energy to start from scratch in development which is where I want to be. The idea of FIREing in 5 years also kept me chasing the money rather than working on career growth. Even now when I apply for jobs again in a few months I'll have to start from the bottom of the ladder with a 1/3rd paycut. My FIRE plans will extend by a few years. I tried to make this work every way I could think of before coming to this decision. Honestly the biggest factor here for me to reclaim some of my freedom which I think a lot of you will relate to. The feeling of being trapped because of a higher paycheck and being too worried about starting from scratch is a bummer. I didn't even have the enthusiasm to do things just for fun in the evenings and weekends anymore. Thankfully this community has helped me get to a point where I am at least financially set enough even attempt something like this. I've asked my manager for a reference already and have gotten that, my expenses are under control, I'll be using up my cash before dipping a bit into margin account reserves. I would love to hear your experience if you've been through this in your own life or have tips for me to make the transition smooth. [link] [comments]  |
| How to FIRE when your spouse doesn't care? Posted: 10 Jul 2021 03:57 PM PDT I am 30 and make around 90k+ per year. I have about 30k in my 401k and about 5k in stocks that haven't done much. I also have 50k in savings. Both our cars are extremely old and not exactly reliable and we forsure need to buy atleast one new vehicle and we live in a 2 bed room apartment. We live in California, so buying a house doesn't seem like a good idea with the market being insane. My spouse makes about 30k a year and she doesn't care to find a new job or to plan for retirement at all. She is pressuring me to have kids because we are getting older but I can't shake the feeling that having a kid is the absolute worst fucking financial decision I could make right now. I would have to either buy a home or rent an even more expensive apartment to get a 3rd bedroom. This was my first year I maxed out my 401k and I plan to do this every single year. I also plan to get a Roth IRA started before the end of the year and maybe have someone just manage it for me. I feel sorta lost since my spouse is just leaving it up to me to figure this all out. Is there anyone else out there in similar situations and what are your plans for being a cursed millennial? [link] [comments]  |
| I cant do this for another 40 years Posted: 10 Jul 2021 02:27 PM PDT 25M here and I'm already fucking sick of going into work everyday. I dont understand how people have been able to just "power through it". Most days I spend at work feel like a constant mental fight just to get through it. I make nowhere near enough to be able to work towards a super early retirement, and my piss-poor mental health is a real hindrance to finding something that pays more. I understand that usually an early retirement means living somewhat minimalistically, but I also just have lots of things I like to do (gaming, concerts, manga, camping, amusement parks, etcetcetc), and I have a hard time justifying a life where these things simply aren't attainable as one where my precious time on this planet isn't just bloody wasted. I feel bad for having this problem, I'm bitching and moaning about something that is just.... inescapable for most people. Something that billions and billions of people just have to suck it up and deal with. What makes me so special? Why am I just so much... weaker than most people? This planet has shit that needs to be done, if everyone found a way to escape work than the world would cease to function, so it honestly seems kinda selfish to even want to try. However at the end of the day, I can't exist in this emotional turmoil, I need to find a way to support a lifestyle I'm satisfied with that doesn't make me miserable and I just don't know what that is. Life is short, and even if I didn't work there's more things that I'd wanna spend my time with than there is time I have on this planet, let alone the free time I have after spending half my day in a soul sucking factory. Theres millions of albums to check out, endless games to play a books to read, an insane number of places to see. Obviously it's unrealistic to try and get to everything, but sometimes it's hard not to think about what you could get done if you didn't have to spend 8h a day in some building you don't wanna be at. The only thing I could think of that could do for a living that would bring me joy, or at least.... not suck the life out of me would be being some kinda video game related youtube/twitch guy. Doing lets plays, maybe doing "Scott the woz" type videos about specific topics But turning that into a living is one of those things you can try your hardest to do, do it well and still not get anywhere because that's just the way the market be (most people don't get "famous" after all). Should I try and keep it as a fun hobby even if I don't make it? Absolutely, but it doesn't exactly fix the problem I'm trying to solve. I need to be freed from this soul sucking grind but it really does feel like theres no way out. [link] [comments]  |
| Question about the "Timing the market" post to this subreddit from two years ago. Posted: 09 Jul 2021 04:22 PM PDT Some quick context: I was re-reading the parable of Bob blog post and this great thread from a couple of years ago and was wondering how inversing Bob's strategy would fare compared to the others (albeit on a month-to-month basis rather than each bull-bear cycle). I made some quick and dirty edits to the spreadsheet and found that lump sum investing every monthly down turn would yield ~37% greater returns. Is this correct? I'm guessing this is essentially VA (Value Averaging) but I've never seen any posts/info/suggestions that a strategy that simply revolves around investing every monthly downturn would yield greater results than monthly DCA especially when the takeaway is that you should time the market (as long as you continue to invest on a regular basis)? [link] [comments]  |
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