Financial Independence Daily FI discussion thread - Wednesday, November 17, 2021 |
- Daily FI discussion thread - Wednesday, November 17, 2021
- What scares you the most about your financial future?
- FIRE with Adult Child with Disabilities
- Weekly Self-Promotion Thread - November 17, 2021
- How can I become finically Independent as a high school dropout ?
- Any FIRE people that has lived many years independently and survived previous market crashes?
- Employer 401(k) contributions and Solo 401(k) under single member LLC?
| Daily FI discussion thread - Wednesday, November 17, 2021 Posted: 17 Nov 2021 02:02 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] |
| What scares you the most about your financial future? Posted: 17 Nov 2021 08:25 AM PST So much about FI/RE seems to be about creating a better future for ourselves & our families, anticipating issues that could come up years down the road, and taking action today to make those issues minor bumps in the road if/when they actually come to pass. What specifically, if anything, scares you the most about your post FI/RE life? How are you planning for it today? For me, it's medical issues. I'm currently single & self-employed, so I'm settling for meh insurance on the exchange, but it doesn't feel like a sustainable solution. I exercise ~5 days per week and eat well, but I know it's just a matter of time until my body starts to fall apart, and I'm hoping to find a spouse with employer-provided health insurance before then, but that's kind of a crap shoot, and that scares the hell out of me. You? [link] [comments] |
| FIRE with Adult Child with Disabilities Posted: 16 Nov 2021 07:45 PM PST
Edited to add for a couple questions/comments that have come up: - Our son is ambulatory, highly social (far more extroverted than me), likes riding his bike and traveling but he also needs significant help with basic personal care and hygiene so we're in an unconventional position as most people with disabilities with his personal care needs are far less active. He also has no real concept of danger or risk also which means he requires pretty constant supervision as he has the ability to run out into the street but not the sense of the risk that incurs :) - Life insurance and LTD are both taken care of. $3MM of the former on me and 2/3 salary replacement after-tax for the latter. - One of our major goals is to ensure that his sister is not obligated to care for her brother (or any other family member) so we want to make sure we have enough that he's well cared for regardless of what happens to me, to government benefits, etc. - We have a will with a special needs trust that will be created on our death. - Thanks for the stuff folks have mentioned like ABLE accounts and such. Good info to look into. [link] [comments] |
| Weekly Self-Promotion Thread - November 17, 2021 Posted: 17 Nov 2021 02:00 AM PST Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread. Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely. Link-only posts will be removed. Put some effort into it. [link] [comments] |
| How can I become finically Independent as a high school dropout ? Posted: 17 Nov 2021 03:50 PM PST |
| Any FIRE people that has lived many years independently and survived previous market crashes? Posted: 17 Nov 2021 03:15 PM PST I'm wondering how people can have such confidence in the market to trust their entire futures in it. I've heard people say they expect a market crash every 10 years or so, then how can they depend on a 7% withdrawal each year if it drops 30% one year? [link] [comments] |
| Employer 401(k) contributions and Solo 401(k) under single member LLC? Posted: 17 Nov 2021 02:24 PM PST I work full time and receive a W2 and max out my employer sponsored 401(k) and an IRA account. I own a single member LLC which I run as a part time job and I'd like to know if it is allowed to open a solo 401(k) plan to continue to put money into tax-deferred accounts on top of the employee limit being hit on the employer sponsored 401(k) plan. The contributions on the LLC solo 401(k) would need to be considered as employer contributions since I'm maxing employee on the full time job. I don't know if that is possible or how it works. I'll probably be changing to single member LLC to an S-Corp for other tax reasons for 2021 filing, but I don't know if that affects any of this. I'm not seeing much information on this because most people don't do both. Thanks for any help or suggestions. [link] [comments] |
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