Financial Independence Daily FI discussion thread - Tuesday, February 01, 2022 |
- Daily FI discussion thread - Tuesday, February 01, 2022
- People who make a comfortable living and enjoy your life, what do you do and where do you live?
- A journey from big spender to Fire mindset - thanks guys
| Daily FI discussion thread - Tuesday, February 01, 2022 Posted: 01 Feb 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] |
| People who make a comfortable living and enjoy your life, what do you do and where do you live? Posted: 01 Feb 2022 11:09 PM PST Does anyone out there genuinely enjoy their work/life? Does anyone clock out 4-5, leave work at work and just enjoy their evening/weekends and have time & money for travelling, hobbies? I often see people asking "who makes 6 figures?" But I imagine plenty of those people are so stressed they can't even enjoy their weekends. My friend works at a small town maintaining the parks, he's 22, makes $35/h, benefits. works in the nice weather and clocks out at 4pm everyday, no kids and never went to university so 0 debt. Granted, he's wearing steel toe boots and PE in +30 during the summer. Anyone else have jobs that are similar to that? [link] [comments] |
| A journey from big spender to Fire mindset - thanks guys Posted: 31 Jan 2022 12:58 PM PST In 2019 I posted on here about my struggles with FIRE and you guys gave me a combination of tough-love and chastisement which I definitely deserved. At the time I was making around 185k/salary but only saving 1.2k a month, had 60k in debt, about 200k in total retirement (age 37). My spending was bogus (8k/mo) and I was mostly staying afloat due to the very high salary. That post helped me realize what I already kind of suspected... that we were spending way too much, putting away too little, and squandering the advantage of having a large income. I did a complete 180 and got my fiancé, now wife, onboard with spending smartly. Then the pandemic came along and forced us to break our massive eating out habit while also trimming back our equally large travel budget. Fast forward to today and we've grown our retirement from 200k to 520k and emergency funds from 10k to 133k and paid off our loan and cars. Along the way, we also picked up a second home for 600k which we renovated, and which boosted our total net worth to 650k (the appreciation has been a little over 100k). It's a game of catchup but we're going in the right direction now. Something about charting and tracking this information every month (sometimes more often) has led to a change in both me and my wife's view of FIRE. She wants FIRE at 45 so she's taking on work and we're both growing a side-business that can potentially get us there. Our mindset has changed from "we must have the best of X every time" to "what's the benefit of X? does it help us FIRE? is it worth more than a future spent casually traveling the globe?". Every purchase now feels like stealing from the future if we can't justify it in terms of investment/returns. Ironically, over the last few years I've had a lower income than my peak (250k) but I went from contributing 1% of my income to contributing as much as 60% to FIRE in between pre/post-tax and brokerage funds, so there's been a pretty rapid catch up. I just wanted to thank the sub because without it, I might still be living effectively "check to check" and there's no excuse for that. [link] [comments] |
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