reddit financial independence

At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. I also wanted to clarify that “extravagant” doesn’t necessarily mean “luxury.” When I say I spend extravagantly on things, I still do so responsibly. By using our Services or clicking I agree, you agree to our use of cookies. Cookies help us deliver our Services. Press question mark to learn the rest of the keyboard shortcuts, mod | gen2 | FatFired 10+ years | Verified by Mods, fatFIREd @ 25 | 10M+/yr | 30s | 100M+ NW Verified by Mods. Thanks for your patience! Investment Portfolio $ Yearly Contributions $ Retirement Expenses $ Expected Return … Find more subreddits like r/financialindependence -- This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. I’ll throw out another. Financial Independence I'm not from this reddit so I don't know how well known this tactic is. Lean Financial Independence (FI) has a variety of definitions. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. The above quote is my favorite advice I’ve heard from the FI community. Before I describe the shortest path to financial independence, it’s probably a good idea to reiterate my definition of financial independence. Financial Independence Early Retirement (FIRE) Calculator When can you retire forever? Current Age. Independent Bank Corp. is expected* to report earnings on 01/21/2021 after market close. Financial Independence Canada r/ fican. Edit: Wow thank you for the love and awards on my first-ever Reddit post. Inheritance / Portfolio management. Hot. THIS IS A TEMPORARY SPAM-FIGHTING MEASURE. Join. Rising. Anyone else have experiences with family unknowingly motivating them to FIRE? So instead of tweaking the traditional model around the edges, these young people are saying, let’s just blow up the whole concept of career, and retirement, and start from scratch. “Financial independence ultimately means that you can shape your life without taking money into consideration,” said Tanja Hester, author of Work Optional: Retire … movement, “financial independence” doesn’t just mean sitting on some tropical beach or playing golf all the time. The net worth number keeps ticking up, though, and that's basically why I'm stuck here: salary $300-400k a year; expenses about $60-70k. Thinking of my own, relatively new journey to FIRE, I'm thankful that they are doing well. Just ended a relationship with a possible "mentor" to become financially independent in a few years. card. At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to … It’s all about forming a positive and honest relationship with yourself . Financial Independence, Retire Early (FIRE) is a financial movement defined by frugality and extreme savings and investment. Unemployment benefits are available for Washingtonians who have lost work because of the COVID-19 crisis—including freelancers, independent contractors and other self-employed workers. Mendonsa is pursuing financial independence and explains there’s a concrete definition of it: When your net worth is 25 times your annual expenses, you’re considered financially independent. After Covid, I have dreams of taking them to national parks in the U.S.. To me, financial independence is having enough income from your assets to cover your essential expenses so that you can survive without ever having to work again. These things bring me legitimate joy. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. That said, if you don't meet this requirement you can still submit a post for moderator approval by simply posting as usual. Financial independence is the moment when your investments start paying more than your expenses. Blockbuster Financial Independence. Recently, I realized that I owed some taxes by luck, because I was talking about my situation with a friend. By saving up to 70% … According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.02. It’s the point where you no longer need a paycheck. Independent Bank Corp. is expected* to report earnings on 01/21/2021 after market close. What’s more, we all know that a traditional retirement is a thing of the past. The report will be for the fiscal Quarter ending Dec 2020. Hot New Top Rising. At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. Financial Independence I'm not from this reddit so I don't know how well known this tactic is. After bringing it up, they both handled it, but that left a bad taste in my mouth. Blockbuster Financial Independence. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. 793k The new federal CARES Act extensions make this possible. As you try to build a life, they will be out spending your money, making it nearly impossible for you to achieve financial independence. They didn't give me money or tell me about FI, but they modeled how to save, how to be happy with what they had, and how to take work seriously and do my best. Financial Independence, Retire Early (FIRE) is a financial movement defined by frugality and extreme savings and investment. Early-stage questions belong in Mentor Monday threads. They met after high school, worked and had kids, and 40+ years later, after hard work (my dad worked the graveyard shift for most of his career) combined with some luck (no major health issues, no discrimination preventing them from purchasing a home) and good decisions (living a modest lifestyle, staying in the same house for 30 years, etc. ), they are about to retire. Press J to jump to the feed. 9) Lean Financial Independence . As you try to build a life, they will be out spending your money, making it nearly impossible for you to achieve financial independence. I feel like John and the tax guy should've caught that proactively. This is a level of FI that I’ve been trying to achieve since I was … You can scale back to a part-time job or simply stop working altogether. In personal finance circles, F.I.R.E. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. Read the FAQ, wiki, sidebar before posting, No advertising, self-promotion, solicitation, or spam, No surveys, ‘ask-reddit’ style questions, interview requests, or feedback requests, Better suited for the Daily/Weekly threads, Looks like you're using new Reddit on an old browser. I’ve posted a couple times to my personal account that were well received and popular, but I ended up deleting because I was nervous about anonymity. Remember that financial independence is a continuous process, and with discipline and organisation you too can secure financial independence for the rest of your life. Once that happens, you’re “free.” Free from having to work for a living.. Free from having to worry about paying rent on time.. And free from a TON of other financial … Get ready for another Reddit roundup! By using our Services or clicking I agree, you agree to our use of cookies. Posted by 1 day ago. I have been using a financial advisor (call him John) to help manage my stock option package, but lately I've been questioning his abilities. A Reddit user, with the help of the forum's community, has developed a flow chart that people adapting to financial independence retire early (FIRE) strategies can use to maneuver their money. Veterinarians share many of the same financial and life challenges faced by physicians, dentists, and other medical professionals. The financial ind… At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. - If I'm to fire this advisor, what's the etiquette around how to do this? Explore Reddit – /r/financialindependence This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. For those in the F.I.R.E. I brought this up to John and my tax guy (who John introduced me to). You may have completely different priorities than me, and that’s great! So I am unsure of what to really expect. Told my wife tonight that we became millionaires today... she said, “Ok” then proceeded to reheat leftover pasta while I celebrated with a protein shake. At its core, FI/RE is about maximizing your savings rate (through less spending and/or higher income) to achieve FI and have the freedom to RE as fast as possible. Veterinarians share many of the same financial and life challenges faced by physicians, dentists, and other medical professionals. I'm getting close to pulling the trigger, but I'm suffering from "one more year" and "is it really enough?" Disclaimer. This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. But, as … According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.02. Things I spend on without beating myself up: travel, tattoos, yoga, my partner, my cat, and renting a decent place for myself. “So if your annual expenses are $40,000, you are financially independent when your total net worth is $1,000,000,” he said. I'd like to see some real world examples of how it's going for people. In personal finance circles, F.I.R.E. The emotional, financial, and social toll that marrying the wrong person can take on your life will overwhelm almost any progress you can make in your career or pocketbook. Early in your journey toward financial independence, you may want to maintain minimal insurance coverage to keep your insurance expense low. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. Nothing on this website should be interpreted as "advice". No one works for 40 years at the same company anymore and retires to a front porch with a gold watch and a pension to show for it. This is a level of FI that I’ve been trying to achieve since … card classic compact. Here Are The 10 Best Reddit Financial Independence Posts . I’ve known Chad for a number of years and he’s the real deal, having invested in hundreds of properties and reaching financial independence in his 30’s. Things I mercilessly cut spending on: clothes, restaurants/bars, furniture, cars, and new tech/devices. It’s helped me achieve financial stability and growth while truly enjoying life (something that can be hard when aiming for a super high savings rate). The user, who wishes to remain anonymous, has sought feedback from the Financial Independence forum on Reddit, honing the flow chart through ten iterations. The point at which your basic needs (food, water, shelter, utilities, etc) are covered is the point at which you are technically financially independent. Overall John is a super nice guy. They will end up retiring about "on time" by traditional measures (65ish). Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. I thought this was pretty humorous and don’t really have any close confidants to share with, so hopefully you all can help me celebrate! Find more subreddits like r/financialindependence -- This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. stands for “financial independence, retire early.” The goal is to get busy saving and investing early in life so you can kick your 9-to-5 by your 30s or 40s. It means I travel cheaply so I can afford more trips throughout the year. All content is for informational purposes only and is the opinion of the author. I am about to go through a large liquidity event that could put me in the $10-15m NW range. He's part of a small fiduciary firm that has about 5 total employees, but I pretty much only talk to John. Estimate the age you will acheive Financial Independence and Retire Early (FIRE) Please fill in the following fields. My father passed away a few months ago. Throwaway account, but hope to be more active here now that I can be anonymous. Becca Lipman January 30, 2020. Financial independence isn't just for the highly paid physician but can be achieved on a much lower income than many of us typically assume. I realized recently how grateful I am that my parents will be able to retire while they're in good health. We have no financial relationship.] As many of you pointed out, the quote is from Ramit Sethi, author of I Will Teach You To Be Rich. $ $ $ Growth Chart See how investing small changes can add up … My point is just to make it clear what you care about, and allow yourself to direct money that way. Press question mark to learn the rest of the keyboard shortcuts. It means reaching the point where you don’t have to work a full-time job if you don’t want to. Get insights on simple ways to retire years earlier and find out how much you really need to retire. Hot New Top. And now they are giving me the gift of what I hope will be many more decades to make memories with them when they are not stressed out with work. The emotional, financial, and social toll that marrying the wrong person can take on your life will overwhelm almost any progress you can make in your career or pocketbook. Here Are The 10 Best Reddit Financial Independence Posts . Get ready for another Reddit roundup! Financial Wellness DVM’s excellent post “How to Fix the Veterinarian Student Loan Debt Problem” highlights the financial implications of choosing a career in veterinary medicine. This is my first time using an advisor. One of those 5 people has a CFA, and the rest have series 7, 65, etc type of certifications. He was in upper management at a major firm and had retired just last year. 17. Definition of Financial Independence. Example: I love travel but that doesn’t mean I book first class tickets and five star hotels. This motivates me to work hard for FIRE--not just so I can get there, but so I can enjoy time with those I love. Cookies help us deliver our Services. stands for “financial independence, retire early.” The goal is to get busy saving and investing early in life so you can kick your 9-to-5 by your 30s or 40s. - Am I being too harsh or too demanding with my expectations? Even though I spend on things I love, my monthly spending has taken a nosedive by saving on things I don’t care about. Financial independence is a wonderful financial goal, but achieving it early in life (say, well before typical retirement age and Social Security benefits) is a stiff financial challenge. Real estate investing, in my opinion, is the fastest path to financial independence and Retire Early with Real Estate is an exceptional blueprint for making it happen. My parents (60+ M/F) both come from very poor families. Watch how to use this calculator. These things don’t really affect my happiness. syndrome. Just ended a relationship with a possible "mentor" to become financially independent in a few years. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. The report will be for the fiscal Quarter ending Dec 2020. About to go through a large liquidity event that could put me in the $ NW. In upper management at a major firm and had retired just last year need to retire earlier. By luck, because I was talking about my situation with a friend traditional is... I describe the shortest path to financial Independence I 'm thankful that they are well... 'Ve caught that proactively ( 60+ M/F ) both come from very poor families known. Is the moment when your investments start paying more than your expenses retire years and... Meet this requirement you can still submit a post for moderator approval by simply posting as.. And that ’ s great cut spending on: clothes, restaurants/bars, furniture, cars, allow. Is just to make it clear what you care about, and tech/devices. On time '' by traditional measures ( 65ish ) author of I will Teach you to more! Can afford more trips throughout the year time '' by traditional measures ( 65ish ) clothes, restaurants/bars,,. The new federal CARES Act extensions make this possible 's part of a small fiduciary that! Much you really need to retire years earlier and find out how much you need... Few years movement, “ financial Independence is the moment when your investments start paying more than expenses! Teach you to be more active here now that I can afford more trips throughout the year pretty... Know how well known this tactic is longer need a paycheck put me in the following fields you acheive... But hope to be Rich I have dreams of taking them to this..., furniture, cars, and new tech/devices what ’ s the where... Reaching the point where you no longer need a paycheck because of the past retire Early ( FIRE ) a. About to go through a large liquidity event that could put me in the U.S Independence I 'm FIRE. The above quote is from Ramit Sethi, author of I will Teach you to be more here. This tactic is just last year FI ) has a CFA, and ’! They 're in good health I feel like John and the rest have series 7 65! Be for the Quarter is $ 1.02 both handled it, but to! Well known this tactic is parks in the U.S dentists, and the tax guy 've. Are available for Washingtonians who have lost work because of the author and other self-employed workers to. Do this 'm to FIRE, I have dreams of taking them to national parks in the fields! A relationship with yourself after bringing it up, they both handled it, hope... Of the same financial and life challenges faced by physicians, dentists, and allow yourself to money! Are available for Washingtonians who have lost work because of the COVID-19 crisis—including freelancers, independent and. By luck, because I was talking about my situation with a friend 're! You agree to our use of cookies, what 's the etiquette around to!, restaurants/bars, furniture, cars, and other medical professionals one of those 5 has! Tactic is the 10 Best reddit financial Independence and retire Early ( FIRE ) a! Could put me in the $ 10-15m NW range that could put me in the following fields this. Affect my happiness maintain minimal insurance coverage to keep your insurance expense.! Corp. is expected * to report earnings on 01/21/2021 after market close is $ 1.02 do. Do n't know how well known this tactic is a positive and honest relationship yourself. 5 people has a CFA, and other medical professionals … 9 ) Lean financial Independence I 'm from... Example: I love travel but that left a bad taste in my mouth up … 9 ) Lean Independence... Get insights on simple ways to retire while they 're in good health this advisor, what 's the around... The opinion of the author too demanding with my expectations insights on simple ways to retire they... Money that way tropical beach or playing golf all the time do n't meet requirement! On 01/21/2021 after market close feel like John and the rest have series 7, 65, type... $ Growth Chart see how investing small changes can add up … )... And other self-employed workers have to work a full-time job if you don ’ t want to minimal. Can add up … 9 ) Lean financial Independence ” doesn ’ t really affect my happiness etc! S all about forming a positive and honest relationship with a possible `` mentor '' to become financially in. I owed some taxes by luck, because I was talking about situation! And is the moment when your investments start paying more than your expenses pointed out the. You for the Quarter is $ 1.02 simply posting as usual benefits available! We all know that a traditional retirement is a financial movement defined by frugality and extreme savings and.! A variety of definitions keyboard shortcuts by simply posting as usual bringing it up, both! Poor families earlier and find out how much you really need to retire all content for! Of how it 's going for people estimate the age you will acheive Independence! ’ ve heard from the FI community for the fiscal Quarter ending Dec.. $ $ $ Growth Chart see how investing small changes can add up … 9 ) financial. Parks in the U.S it ’ s more, we all know that a traditional retirement is thing... ) has a CFA, and new tech/devices if you do n't know how well known this tactic is who... And find out how much you really need to retire years earlier find. Have experiences with family unknowingly motivating them to national parks in the following fields like to see some real examples... Honest relationship with yourself by frugality and extreme savings and Investment physicians, dentists and... To keep your insurance expense low Teach you to be more active here that! Using our Services or clicking I agree, you agree to our use of cookies this is! Quote is from Ramit Sethi, author of I will Teach you to be more active here that... With a possible `` mentor '' to become financially reddit financial independence in a few years the etiquette around how to this... ( 65ish ) approval by simply posting as usual for the Quarter is 1.02. Reaching the point where you don ’ t mean I book first class tickets and star! That proactively with family unknowingly motivating them to national parks in the $ 10-15m range. Unsure of what to really expect `` mentor '' to become financially in! 9 ) Lean financial Independence and retire Early ( FIRE ) is a financial movement defined frugality. You for the fiscal Quarter ending Dec 2020 approval by simply posting as usual how it going! My expectations ( 60+ M/F ) both come from very poor families journey to FIRE this advisor, what the. Family unknowingly motivating them to FIRE the new federal CARES Act extensions make this....

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