Financial Independence Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - December 27, 2021 |
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - December 27, 2021
- Daily FI discussion thread - Monday, December 27, 2021
- Weekly FI Monday Milestone thread - December 27, 2021
- Don't forget to treat yourself and enjoy life on your path to FIRE
| Posted: 27 Dec 2021 02:01 AM PST 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 - Monday, December 27, 2021 Posted: 27 Dec 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] |
| Weekly FI Monday Milestone thread - December 27, 2021 Posted: 27 Dec 2021 02:00 AM PST 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] |
| Don't forget to treat yourself and enjoy life on your path to FIRE Posted: 17 Dec 2021 01:15 AM PST Every now and then, there is a refreshing post to ease the pressure on FIRE-ing too early for better mental health. This will be that post. As many of you are likely familiar with the feeling, I was desperate to attain FI because of a shitty job that kickstarted me on this journey. I am normally a very upbeat dude but my job stressed me out a lot. I searched for ways to make more money so I could retire early and found this sub when I was 26. That was 6 years ago. The added pressure to attain FI in a VHCOL market also added to the stress and I couldn't bring myself to splurge on things because of the thought that it would delay my ability to reach FI. This affected my relationships as well. I'm 32 now and have adjusted my goals a bit. Before, I had no target FI age. It was just about reaching my target FI number of $2M ASAP. I realized this was a horrible way to go about it and will cause undue pressure and stress if you do this. Today, I've projected how long it will take me to attain FI by maxing out my 401k and Roth IRA alone at a modest 6% rate of return. I'll hit it around age 50 or so. Once I realized this and that I only had about 18 years of work left, that really felt good. I also married recently and convinced my wife to also max out her 401k and IRA. I believe we could technically retire even a few years earlier now but time will tell how the market goes. Anywho, once I realized that, I made some splurges this past year and I've been the happiest yet. I've gotten myself some workout equipment (bench, dumbbells, elliptical), and new 77" OLED tv, new stove, new king mattress, new kitchen table. I feel my life is in better health and I am happy to now have a presentable home to host family and friends. I probably spent $15K on "material" things this year. But in the grand scheme of things, this will only delay my retirement by what... A year at most? Sure, some things will need to be replaced again in the future, but I'll have likely have 10 years of happier living in exchange for 1 extra year of work. Point is, give your chance to live in the now too if you're feeling too much pressure to reach FI. Of course, this assumes you are already well on your way to FI. I am not recommending you to splurge if you haven't figured out your FI number and already put a plan into place to reach that. I'll also add that I started maxing my Roth IRA at 19 and contributed the minimum to get my company 401k match since 22. I started maxing out the 401k once I found this sub at 26. So get yourself to a good spot first, then don't forget to enjoy your life. [link] [comments] |
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