Financial Independence Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - January 10, 2022 |
- Weekly “Help Me FIRE!” thread. Post your detailed information for highly specific advice - January 10, 2022
- Daily FI discussion thread - Monday, January 10, 2022
- If we all love index funds and feel bullish, why not buy a 3x leverage ETF that follows the S&P500?
- The Highest-Yield Investment: Writing your IPS.
- Weekly FI Monday Milestone thread - January 10, 2022
- Quit my job, and feeling a little empty
- Daily FI discussion thread - Sunday, January 09, 2022
- Made a safe withdrawal simulator
| Posted: 10 Jan 2022 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, January 10, 2022 Posted: 10 Jan 2022 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] |
| If we all love index funds and feel bullish, why not buy a 3x leverage ETF that follows the S&P500? Posted: 09 Jan 2022 11:15 PM PST This group believes strongly in investing in index funds and to keep dollar cost averaging into it. I currently follow suit. But a friend sent me TQQQ which follows the Nasdaq 100 index 3x. The Morningstar chart he sent me shows that a $10000 investment 10 years ago would be worth $1M today. If we are bullish on these index funds and chucking all our money into it, why not just do it 3x faster by buying a 3x leveraged ETF? [link] [comments] |
| The Highest-Yield Investment: Writing your IPS. Posted: 09 Jan 2022 05:54 AM PST A frequent post in the daily thread often takes the following form: "given [perceived current/future market context], how should we [respond/prepare]?" The answer I give to these questions almost always asks the asker to consult their Investment Policy Statement or invites them to write one if they haven't yet. A written IPS can be the highest-yield investment of your lifetime, given that investor behavior is the most fundamental requirement in the investor hierarchy of needs and that a written IPS codifies your philosophy and plan to reduce the risk of errant behavior that can jeopardize your investment returns. Below is a sample IPS that I hope highlights the document's utility to answering the question in the opening of this post, and many more over the decades. This IPS is not your IPS, and it is critical that you write your own so you can believe your own words when you need to consult them in times of uncertainty. The IPS below only covers one investment goal, but it highlights the overall strategy. The key pieces are a clear reckoning of why this is your plan and what your priorities are. Writing even your one-time deviations from the IPS forces you to periodically review whether those deviations were wise, in retrospect. There is room to adjust as needed to true, new, relevant circumstances, but overall the IPS keeps the even keel through nearly all other market conditions by having no provision that says "pay attention to market conditions and adjust for them." Investment Philosophy
Investment Objectives
Risk Tolerance
Asset Allocation
Funds and Accounts
Rebalancing
Other Considerations
Single-event deviations from the IPS
[link] [comments] |
| Weekly FI Monday Milestone thread - January 10, 2022 Posted: 10 Jan 2022 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] |
| Quit my job, and feeling a little empty Posted: 09 Jan 2022 09:58 PM PST I quit my corporate job at 26, with determination that freelance work and some consistent side income would do it for me careerwise. However, I am finding a lot more free time than I was expecting and thus feeling a little empty and directionless. I have been using this time to go cycling, reading, listening to podcasts, taking naps, watching films in the morning and just hanging out with my girlfriend during normal work hours. While my new lifestyle has given me a certain sense of freedom, there is always a thought at the back of my mind telling me I'm falling behind and useless which has been making me anxious. The thoughts are to the point where I want to go back to dealing with my shitty manager and staying in pointless meetings after hours, just to stop overthinking about life and my future. I feel guilty resting, and properly enjoying my hobbies. I have always been interested in the idea of FIRE and thought I would somewhat experience what 'retired life' is like, and since my hobbies do not cost much (except international travel), I could keep myself afloat. Luckily my SR has been over 95%, and expenses extremely low so I do have some buffer, but the anxiety about the future persists, and feel my sense of self is being constantly threatened. TLDR: I was glad I quit my job because I was emotionally drained but now I'm feeling my newfound time isn't as rewarding as I'd imagined. Seeking guidance on how to move forward. Thanks for reading. [link] [comments] |
| Daily FI discussion thread - Sunday, January 09, 2022 Posted: 09 Jan 2022 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] |
| Made a safe withdrawal simulator Posted: 09 Jan 2022 07:27 PM PST Using S&P500 returns which may be wrong but it's how I invest (I.e. 100% in VTSAX, 0% bonds). Regardless, results were interesting— ridiculous averages and fat tails. Simulator here: https://fireplace.cash/calculators/safewithdrawalsimulator/ This is a pretty simple simulation that really doesn't assume too much about future returns except that they will likely come from the returns of the last 100 years. Below is what happens for a single run.
[link] [comments] |
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