What are the top 10 Commandments of Options Trading Strategies

Options Trading/Strategies

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This blog is about the top 10 Commandments of Options Trading Strategies.

Options trading is a complex and often risky business. However, by following some simple rules, options traders can increase their chances of success while minimizing their losses.

Option strategies are the simultaneous, and often mixed, buying or selling of one or more options that differ in one or more of the options’ variables. Call options, simply known as calls, give the buyer a right to buy a particular stock at that option’s strike price. Conversely, put options, simply known as puts, give the buyer the right to sell a particular stock at the option’s strike price. This is often done to gain exposure to a specific type of opportunity or risk while eliminating other risks as part of a trading strategy. A very straightforward strategy might simply be the buying or selling of a single option; however, option strategies often refer to a combination of simultaneous buying and or selling of options.

Options strategies allow traders to profit from movements in the underlying assets based on market sentiment (i.e., bullish, bearish or neutral). In the case of neutral strategies, they can be further classified into those that are bullish on volatility, measured by the lowercase Greek letter sigma (σ), and those that are bearish on volatility. Traders can also profit off time decay, measured by the uppercase Greek letter theta (Θ), when the stock market has low volatility. The option positions used can be long and/or short positions in calls and puts.

Below are the 10 Commandments of Options Trading:

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  1. Do your homework. Before entering into any options trade, make sure you understand the underlying security, as well as the risks and rewards associated with the trade.
  2. Have a plan. Options trading is not a get-rich-quick scheme. Carefully craft a plan that takes into account your investment goals, risk tolerance, and time horizon.
  3. Use stop-loss orders. A stop-loss order is an order to sell an asset when it reaches a certain price point—the point at which the loss on the trade would become too great to bear. By using stop-loss orders, options traders can limit their losses on any given trade.
  4. Let winners run. Once an options trade is profitable, resist the urge to take profits too early. Instead, let the trade run its course and reap the full rewards of a successful trade.
  5. Cut losers short. On the other hand, when an options trade is going against you, don’t be afraid to exit the position and take your losses. Trying to “fight” the market will only lead to further losses.
  6. Manage your risk exposure. One of the most important aspects of successful options trading is managing risk exposure. Make sure you don’t have too much of your portfolio invested in any one security or sector. Diversification is key to mitigating risk in options trading (or any kind of investing).
  7. Use limit orders. A limit order is an order to buy or sell an asset at a specific price—the price at which you are willing to enter into the trade. By using limit orders, options traders can better control their risk exposure and avoid getting caught up in volatile markets.

8 . Be patient . Patience is a virtue in all aspects of life, but it’s especially important in options trading . Don’t enter into trades just because you’re feeling antsy—wait for opportunities that meet your investment criteria . And once you’ve entered into a trade , resist the urge to “trade emotionally” and instead let your original analysis play out . Over-trading is one of the biggest mistakes options traders can make .

9 . Stay disciplined. Like patience, discipline is also key to success in options trading . Once you’ve developed a sound investment strategy , stick to it ! Don’t let emotions influence your trades — if anything , emotion should be kept out of trading altogether . The best way to do this is by developing a clear set of rules that you always follow when making trades . If you can do this , you’ll be well on your way to success as an options trader.

10. Have realistic expectations . Finally, it’s important to have realistic expectations when trading options . Remember : there are no guaranteed winners in options trading ! Every trade involves some degree of risk, so don’t expect to win every single time. If you approach each trade with reasonable expectations and focus on long-term success, however, you’ll be well on your way to becoming a successful options trader

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What are the top 10 Commandments of Options Trading Strategies


  • Thou shall always take 100% daily gains or 200% all time gains.
  • Do not fall into temptation and buy during the first 30 minutes of market open. (Selling positions is still permitted)
  • Thou shall not buy calls on green days.
  • Thou shall not buy puts on red days.
  • Avoid greed and do not buy consecutive options on 1 company.
  • Give thyself at least 3 weeks time to play the option.
  • End your suffering and sell if down 50% all time on an option play.
  • Avoid gluttony and do not day trade options. (Swing trades allowed)
  • Be fruitful, multiply earnings and sell covered calls if holding any.
  • Celebrate and binge drink after big gains (or losses)
  • Off topic, but relevant – You absolutely need to be doing a 401k or IRA as well as investing in crypto: 401ks and IRAs offer fantastic tax advantages that straight investing does not. Also if you have an employer who matches you are leaving money on the table by not taking advantage of that. It’s foolish. Crypto is great and should definitely be in your portfolio but it should not be your whole portfolio.
    1- WallStreetBets
    2- Wikipedia

Options trading can be complex and risky business, but by following some simple rules traders can increase their chances of success while minimizing losses

Finance and Binance Breaking News – Top Stories

  • $LMT calls is helluva drug
    by /u/Bullriderbearkiller (wallstreetbets) on April 13, 2024 at 6:08 pm

    submitted by /u/Bullriderbearkiller [link] [comments]

  • Iran wants oil to stay up in 2024
    by /u/MaryAnnGrysbeck (wallstreetbets) on April 13, 2024 at 5:45 pm

    Iran Seizes Ship Linked To Israeli Billionaire In Latest Escalation Of Tensions https://www.forbes.com/sites/jamesfarrell/2024/04/13/iran-seizes-ship-linked-to-israeli-billionaire-in-latest-escalation-of-tensions/ Iranian authorities seized an alleged Israeli-linked cargo ship near the Strait of Hormuz on Saturday morning, in the latest escalation of tensions between the two countries. The MSC Aries is affiliated with Israeli businessman Eyal Ofer, chair of the Zodiac Group, which reportedly operates the ship. Iranian forces conducted a helicopter operation to guide the ship to Iranian waters while carrying out an “evacuation of personnel.” Israeli Foreign Minister Israel Katz subsequently claimed Iran had seized “a Portuguese civilian cargo ship, belonging to an EU member, claiming Israeli ownership,” and he accused Iran of “conducting a pirate operation in violation of international law.” FORBES VALUATION.We estimate the net worth of Eyal Ofer, the owner of the Zodiac group, at $24 billion, making him the 83rd-richest person in the world. The vessel is operated by Geneva-based Mediterranean Shipping Company, the world’s biggest container shipping line. It is owned by Gortal Shipping, a finance company affiliated with Zodiac Maritime, a company controlled by Israel’s Ofer family. Iran simply will not attack Israel directly as the US and Israel response would be measured and forceful.Iran has too much to lose to do so.They are crazy but not that crazy. So Iran seizes an Israeli cargo ship with 25 crew members.This is the first indirect attack on Israeli assets on April 13,2024.What Iranian proxies do next should make for an interesting weekend. Or as stated here. Israel expects Iran to strike in a way that allows it to save face, but is measured enough to not arouse an even fiercer counterstrike, analysts say. The Iranians “don’t want a total war,” said Amos Gilead, a retired Israeli general. “So they might attack targets that would enable them to declare that they’ve achieved a great victory.” https://www.nytimes.com/2024/04/12/world/middleeast/iran-israel-miscalculation-retaliation.html No direct attacks from Iran are very likely.What are the next indirect steps by Iran,my fellow regards? Regardless of what Iran does,Iran will benefit financially as it is the third largest oil producer among the 13 OPEC nations.It is in Iran’s best interest to keep oil prices elevated. submitted by /u/MaryAnnGrysbeck [link] [comments]

  • Good thing I sold at 60💀
    by /u/zoomverse (wallstreetbets) on April 13, 2024 at 5:23 pm

    submitted by /u/zoomverse [link] [comments]

  • It’s nothing crazy, but it’s ‘honest’ work
    by /u/NoMoney_NoProblems13 (wallstreetbets) on April 13, 2024 at 5:14 pm

    submitted by /u/NoMoney_NoProblems13 [link] [comments]

  • What the hell is going on with Rivian?
    by /u/dividends4losers (wallstreetbets) on April 13, 2024 at 4:46 pm

    There's seemingly major buy pressure for a stock that is still artificially tanking. Rivian hasn't been doing well as a company since interest rate increases & the price of EV's drastically falling due to competition within their own used car markets and consumer skepticism about large EV and truck mile ranges. Large institutions owned almost 90% of RIVN since IPO and r holding the bag on major losses. To regain cost basis they have been shorting Rivian into the ground. Even though it was almost entirely held by institutions during IPO, somehow with only a 12% decrease in institutional ownership (some of the only shareholders) this accounted for almost a 70% decrease in price. While I can only add one image, more than half of the put volume is still out of the money by a lot, and short interest for this stock is thru the roof at an all time high. if the stock were to rally 10-20% it could put these institutions in a very tough spot & I just don't see the end goal here. They have a signed contract with Amazon set to deliver 100k delivery vans and the ceo is clear that they will be in an overall positive profit margin by Q42024. They have more assets to liability. Which leaves me to 1 conclusion. These shak' quant analysts r shorting this stock for coke money. I already have $14.000 worth of 2.5 leaps expiring January of next year but I want to hear what you all think! submitted by /u/dividends4losers [link] [comments]

  • Who averaged down on calls on Friday and have this bad feeling about next week even though tech earnings are around the corner?
    by /u/Master_Awareness5821 (wallstreetbets) on April 13, 2024 at 4:05 pm

    What’s good my fellow action junkies and noblemen. the loss porn on here this week was astonishing. accounts got wiped clean with worthless calls cause of horrid inflation due to “seasonal effects” and “a war” a.k.a high treasury yields. I’m one of the tards that averaged down on calls expiring next week for IWM and SPY hoping for a similar recovery from Thursday after the CPI release. You guys think poppa powell gonna let this slide? who doubled up on puts and who averaged down on their calls that went to shambles? submitted by /u/Master_Awareness5821 [link] [comments]

  • Goal is to make just 4-5K per week besides full time job..
    by /u/New-Set-3059 (wallstreetbets) on April 13, 2024 at 3:56 pm

    Merrill Edge platform is not that great like RH to show the history and YTD gains. Deposited 12.5K on April 1st to this account. All these trades are executed using my phone while walking to the meetings on a very busy and demanding 8-5 PM, FT job. My results aren't typical. Because I spent few years to learn how the market works, and when to enter and exit. I did have losses which you can see DNUT and INTC calls. For last week post link https://www.reddit.com/r/wallstreetbets/comments/1bxgcmd/15k_to_51k_in_5_days_with_5_trades_do_i_know/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button submitted by /u/New-Set-3059 [link] [comments]

  • Guess my profession based on my personal portfolio (m30)
    by /u/negative3sigmareturn (wallstreetbets) on April 13, 2024 at 3:41 pm

    submitted by /u/negative3sigmareturn [link] [comments]

  • Sold my first SPY CSP and bought some SOFI yesterday.
    by /u/Playful_Tough_7501 (wallstreetbets) on April 13, 2024 at 3:35 pm

    Hoping I don’t get assigned on this cash secured spy put. Will probably have to roll it down and out. Oh well. submitted by /u/Playful_Tough_7501 [link] [comments]

  • So this is leverage trading
    by /u/Sufficient_Leave_96 (wallstreetbets) on April 13, 2024 at 2:10 pm

    https://preview.redd.it/cioo82n699uc1.png?width=1179&format=png&auto=webp&s=e61d5cf9a4d708751128f1ce6300a75535ffc276 submitted by /u/Sufficient_Leave_96 [link] [comments]

  • Bloody Friday
    by /u/Ok_Gur6638 (wallstreetbets) on April 13, 2024 at 1:21 pm

    Im done for the year submitted by /u/Ok_Gur6638 [link] [comments]

  • Red all week next week for banks earnings
    by /u/whyareallusernamest (wallstreetbets) on April 13, 2024 at 1:09 pm

    I heard from a birdie (wsb) that banks have begun to lower their interest rates on their high yield savings accounts. I am thinking even though the earnings may look good for banks at the beginning of the week that we might see red all week because they will have/provide the same type of forecast/worry that the JPM Chairman and CEO gave. https://www.cnn.com/2024/04/12/investing/jpmorgan-chase-bank-earnings-q1/index.html submitted by /u/whyareallusernamest [link] [comments]

  • $SPY keeps making lower lows and lower highs since the very beginning of this 2nd quarter
    by /u/Quixotus (wallstreetbets) on April 13, 2024 at 1:02 pm

    submitted by /u/Quixotus [link] [comments]

  • Sweaty balls: How I survived selling NVDA 765 calls
    by /u/mehyay76 (wallstreetbets) on April 13, 2024 at 12:08 pm

    I am no bear but damn I was not expecting NVDA to keep climbing like this. I was assigned and was down like $400k at some point. Instead of chickening out I stayed for a moment that could take me out of that mess I created for myself and luckily I found the right moment. ​ Looking back I was so lucky this didn't destroy my portfolio. ​ I'm not touching options anymore. I'll buy ETFs and chill. This was so fucking stressful! https://preview.redd.it/y9u9ehyvl8uc1.png?width=1748&format=png&auto=webp&s=7d538bcf64185e78bcab20175cad42380cd253c5 https://preview.redd.it/snob6gyvl8uc1.png?width=1374&format=png&auto=webp&s=953a721da01e39031cc77727f7e8bb3e7772a884 https://preview.redd.it/8g3lphyvl8uc1.png?width=1762&format=png&auto=webp&s=088a4d6459f64dffb46432f875f8020f911205e5 submitted by /u/mehyay76 [link] [comments]

  • Which one should I read first?
    by /u/Less_Air3373 (Financial news and views) on April 13, 2024 at 11:21 am

    Which one is a good read submitted by /u/Less_Air3373 [link] [comments]

  • Daily FI discussion thread - Saturday, April 13, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on April 13, 2024 at 9:02 am

    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. submitted by /u/AutoModerator [link] [comments]

  • Everything is superdetermined. Everything is priced in
    by /u/btctrader12 (wallstreetbets) on April 13, 2024 at 5:14 am

    The potential Israel-Iran war is priced in. The AI bubble is priced in A potential NVIDIA stock split is priced in Crypto ETF buying is priced in The potential for the FED to have no rate cuts this year is priced in You losing your wife to a homeless person is priced in Your death is priced in submitted by /u/btctrader12 [link] [comments]

  • Planning for retirement
    by /u/Aggravating_Cake9263 (Financial Independence / Retire Early) on April 13, 2024 at 4:45 am

    Using a throwaway for obvious reasons I'm a 51yo (wife and 2 kids) looking for advice on how to plan hopefully the last stage of my career. Here's my situation: VHCOL, annual household income: $700-800K; yearly expenses: $150K (12-13K/year) 2 kids, 1 in college (paid for). $110K for the second kid that is 7 years away from college NW (excluding primary residence); $3M. In addition, have $2M in equity in primary residence. However, only $1.1M is in non-retirement equity, most is in retirement accounts Medical issues in the family, so will probably need to look into some additional insurance etc Concerns about kids settling down early, think this is at least 15 years away and they will need "help" Also want to keep living in my pr Have expensive life insurance for myself and spouse My questions are: Should I be concerned about the heavy weightage in retirement accounts? Or rather I am concerned but don't know if I should be firecalc seems to suggest I may run out of money in 30 years (90% probability). Not sure how I should be thinking of income supplementing Any strategies to minimize health costs in retirement? Thanks for reading this far submitted by /u/Aggravating_Cake9263 [link] [comments]

  • INTC Intel YOLO ….. 19,000 shares in this account…. Several thousand INTC in other accounts as well….. ready to moon 🚀
    by /u/ColdDonkey4784 (wallstreetbets) on April 13, 2024 at 4:27 am

    Fundamentals are there. Talking heads already seem flustered to even talk INTC as it seems they’re all in bed with NVDA. Postmarket volume was over 12 million today and I heard it was 2 to one buying pressure vs. selling. GLTA 🚀 submitted by /u/ColdDonkey4784 [link] [comments]

  • Recently into FIRE
    by /u/hopefulFIRE52 (Financial Independence / Retire Early) on April 13, 2024 at 3:37 am

    Hi I'm 31f. New to FIRE. I make approximately $130,000/year but this should increase to $150,000 within the next 2-3 years (gross income). I live in a VHCL area and do not plan to relocate in the foreseeable future as I am locked into a low interest mortgage. I am hoping to retire at 52 but want to have money to travel and have fun. Currently using up entire paycheck to make retirement, savings, mortgage, etc happen and then I do overtime to pay for trips etc., so I don't factor that into my income listed above because OT is strictly fun money. Current retirement account balances: 457- 4,518.09 ROTH (target date fund 2055) 401k- 21,961.34 (target date fund 2055) ROTH is 6,940.69 and Pre-Tax is 15,020.65 I only put about $300-500 in every month for last 6 years but...Starting in May 2024 contributions will change to: 457 $700/month ROTH and 401k Pre-Tax $100 and ROTH $200. In 2025 will add another $1,000 a month to this (I stupidly signed up for voluntary personal leave program that takes off 2 days a month from pay but get 2 extra days off, can't stop this until 2025) Pension: If I start drawing from my pension at 52 (27 years of service and the earliest I can draw) I will receive: 42.93% of final compensation which should be approximately $18,917 so $8121.07/month if I ONLY receive a 2% raise per year after 2026. VS. If I stay at work until I am 57 ( 32 years of service and the minimum age for my full 2%) I will receive: 54% of final compensation which I would guess would be about $20,000 (haven’t done the exact math since I don’t plan on staying until 57) so approximately $10,800/month My health insurance will be completely covered as well but only if I start drawing from pension within 120 days of retiring (this is why I can’t just leave pension to sit and draw only from 457). Home: I owe $485,000 on my mortgage at 2.75% and it is currently estimated at $700,000 (bought in 2020). Mortgage is approximately $2,700/month but I pay $3,000/month and hope to increase this a little bit to have mortgage paid off within 20 years instead of 30 for peace of mind. Rental: I have a small rental at back of property bringing in $1,300/month (minus utilities which for both them and myself equal ~$500/month) so I just look at it as about $800 income and don’t worry about utilities (I could charge about $1,500 easily and assume it will be worth at least $2,000/month by the time I retire but it is not permitted so I don’t count on that income) I currently have $2,100 in emergency savings and adding $700/month until I have $8,000 then saving a down payment on a used car (current car is at 170,000 miles) and then saving another $8,000 towards emergency fund. Current debt: Mortgage left $485,000 @ 2.75% Solar: about $27,000 @ 1% Student Loans: under $5,000 @ 4.5% Possibly having one kid in about 3-4 years but not sure yet. Boyfriend makes about $60,000 a year and would probably be a SAHD or work part time if we did get married and have a kid. (I am not SAHM material) submitted by /u/hopefulFIRE52 [link] [comments]

  • $14K SPY CALL YOLO (no war + earnings next week)
    by /u/edp445burneracc (wallstreetbets) on April 13, 2024 at 3:09 am

    submitted by /u/edp445burneracc [link] [comments]

  • Don’t Sell
    by /u/Goldonthehorizon (wallstreetbets) on April 13, 2024 at 1:56 am

    The market is struggling with inflation data and global unrest and undergoing a slight correction. A correction is very healthy for a Bull market. The earnings season will surprise to the upside - very strong. I believe the market will continue to roll up for the following reasons: 1) The recent hot jobs market is due to an increase in leisure/entertainment and medical workers. These areas were most affected by the pandemic. Yes a lot of government jobs added as well - it’s an election year for the current Uncle Sam. I believe the current workers above is fully staffed. Service jobs will flatten and wages will normalize. 2) AI is just starting and will drive a whole new cycle in computing hardware from phones to data centers. The electrical grid will require a rebuild. A battle for electricity is underway between eV’s and data centers. Data centers will win as will those companies involved with power generation and infrastructure. 3) The Fed - get over them. Interest rates in the United States averaged 5.42 percent from 1971 until 2024. I don’t see them hiking & maybe throwing in a token cut. 4) The shift to global isolation leaves no alternative but to invest in the USA. Importing disinflation is over, but we have the resources and the digital revolution will drive productivity. Let Russia and China buy up the gold. I rather buy the best companies in the world. 5) We went thru two Bear markets in the past 4 years - many shitty companies were weeded out. The market is healthy. We are still early in a long cycle Bull market. Average in - buy the dips on SPY. Small cap’s are bargain basement- buy the Russell. If you have some favorite stocks buy them & call leaps. My opinion only. submitted by /u/Goldonthehorizon [link] [comments]

  • Call Credit Spreads 3 Month Update. $58k - $204k
    by /u/mastagoose (wallstreetbets) on April 13, 2024 at 1:27 am

    https://preview.redd.it/iwe9m98gf5uc1.jpg?width=1170&format=pjpg&auto=webp&s=d01e48f19eb37bbd82baa4d02b1fcb8475b02d16 Well, there it is, A lot of people DMd me asking for updates after my DD post here where I went over my strategy to sell far OTM call credit spreads on stocks reporting earnings that week. Since today is the 3-month anniversary of the day I started, here is an update/story. It started many months ago, Setptember to be exact, when I was selling cash secured puts on average stocks like META, MSFT, etc.. then everything changed in December when I decided to sell puts on AMC. AMC tanked and my puts got assigned, so I doubled down and it kept falling. Before I knew it, I was leveraged to the tits. Full send, max margin in AMC shares which you can see here - a photo of my portfolio is in the comments. Unfortunately, AMC continued to go down. Around January 13th, I said fuck it. I sold EVERYTHING at a huge loss. I settled on keeping $58k and went full send into NFLX Put credit spreads barely out of the money. NFLX rose on earnings and the strategy was born. Eventually, I did more research. I made the spreadsheet you see in my DD post and have since updated it further. Also, I almost exclusively sell deep otm call credit spreads now because I have found that they give me better risk to reward. Since January 13th, and Just to name a few, I've yeeted my whole net worth into selling OTM weekly Call Credit Spreads on NFLX, LULU, ULTA, COST, DG, MSTR, SMCI, BIDU, SOUN, DJT, and JPM. That's what I can remember right now at least. I haven't kept track of my total profit per week since I started, but here is the last 4 weeks (I know I'm missing some fees in my weekly ending amounts). https://preview.redd.it/zxo80m7tf5uc1.png?width=1345&format=png&auto=webp&s=fac9006b05bfbc5ecb25d0e7b4424b90f3d04f05 The $5700 I withdrew went towards this Rolex that I bought to celebrate. https://preview.redd.it/uy6nl7hvf5uc1.jpg?width=2251&format=pjpg&auto=webp&s=dd19d0fdf79eddd2d1a0e6e83639260002179654 and yeah, Imma keep going. Earning season starts up again next week. I'll make another update in a month or 2. Good luck and see you soon. submitted by /u/mastagoose [link] [comments]

  • I Have to Wear a Helmet When I Trade
    by /u/krismasstercant (wallstreetbets) on April 13, 2024 at 12:05 am

    submitted by /u/krismasstercant [link] [comments]

  • AARP and SmartAsset retirement calculators break at the extremes
    by /u/Paperback_Chef (Financial Independence / Retire Early) on April 12, 2024 at 10:53 pm

    For anyone using these retirement calculators, I noticed the following - please correct me if you know otherwise (I pinged Smartasset and we'll see if I get a reply): Both calculators are inaccurate for early retirement users as they compare apples to oranges when it comes to retirement savings vs. total spending. In the calculators, one would assume the balances shown under “You will need savings of $XXXX” (Smartasset terminology) and “You will have $XXX” should be comparable, to illustrate a shortfall in retirement savings. However, the amount shown as “You will need…” appears to be the undiscounted sum of all future annual spending throughout retirement minus SS or pension income. Over a long retirement time horizon, say 40 years at 2.5% inflation, the effect of this lack of present valuing results in the user being shown a dramatically overstated savings need (in other words, they appear to be undersaving for retirement). The amount under “You will have,” for an early retiree who will only work a couple more years, is essentially in today’s dollars and not comparable to the undiscounted future value described above. To make this calculator more useful, you can take the “You will need” number that results and present value it in Excel, then compare the resulting PV to the “You will have” number (which would also need to be present valued if your retirement date is many years in the future). Maybe this calculator works given “normal” retirement ages and periods, but appears to break for long retirement periods with a near-term retirement date. This was a nice reminder to me to make sure all my inputs and outputs are in PV or FV, in real dollars or nominal, etc. for comparability. Happy to hear anything I have incorrect, cheers. submitted by /u/Paperback_Chef [link] [comments]

  • What is going to happen when nothing happens?
    by /u/Fit-Stress3300 (wallstreetbets) on April 12, 2024 at 10:13 pm

    Looks like this week as FUD week. First was the catastrophic March CPI at 0.1% hotter than expected. Now, a possible, maybe, who knows, Iranian attack towards Israel. Send me your regards, but I don't buy it - figuratively and literally - the US economy is doing just fine. 3% inflation never killed an country, Wall Street have to accept we are in the Roaring Twenties again and everything will be fine. So stop asking for people losing their jobs. And war... War never changes. Iran doesn't have the resource to engage in any real war with Israel, it will be just fireworks over the Lebanese/Sirian boarder near some Israeli troops. Earnings season will about to start again in a couple of weeks for big tech minus Nvidia. That is all that matters. Great, well manage companies with good products. submitted by /u/Fit-Stress3300 [link] [comments]

  • Yep
    by /u/WagyuAnal (wallstreetbets) on April 12, 2024 at 10:08 pm

    submitted by /u/WagyuAnal [link] [comments]

  • Weekend Discussion Thread for April 12, 2024
    by /u/wsbapp (wallstreetbets) on April 12, 2024 at 8:00 pm

    View Post submitted by /u/wsbapp [link] [comments]

  • Imagine losing on NVDA calls
    by /u/hotblood27 (wallstreetbets) on April 12, 2024 at 7:02 pm

    submitted by /u/hotblood27 [link] [comments]

  • Brink of war? Buy puts
    by /u/HornetIndependent619 (wallstreetbets) on April 12, 2024 at 6:07 pm

    Mee hoy minoy noy. submitted by /u/HornetIndependent619 [link] [comments]

  • am i missing anything (from any angle) in moving towards independence?
    by /u/No_Measurement_4176 (Financial Independence / Retire Early) on April 12, 2024 at 3:55 pm

    so i wasn't even aware of "fire" or "financial independence" until a few years ago. this basically means we weren't trying to save aggressively for this goal however, based on the saving habits we have, it almost played right into this if you get what i mean? for context/"stats": wife(35)/myself (40) net worth of $1.4MM - this would be all our retirement(roth/ira/401k)/individual brokerage accounts. $80k in immediate cash in money market (excludes 6 month emergency cash) own a home (about 330k left on mortgage) that we bought in 2017. rate was like 3.5xx%? live in los angeles. no other debt besides mortgage remote workers, combined gross income is $260k, could be slightly more w/bonus, but i don't "count" on it if it makes sense? that figure is $10-$15k if you're wondering no kids now or never we plan on moving to the PNW (seattle - suburb) because: we've always eyed that area. have close friends there and also (besides ethnic food) don't take advantage of CA's "pros". ..WA state will be the place where we end up retiring too. no income tax (we're remote and also for retirement) no more mortgage (have about 23 years left w/o adding more principal payments) while we are greatful for our current jobs/pay, its not going to last forever and it might be our last "real" job...meaning if we lost it and can't find remote work again, might just find something completely different that would cover the bills/have health insurance until retirement. we plan on selling our home here, and buying a smaller place (townhouse) outright up there. based on loose calculations, monthly "savings" CA - $3,600/Month PITI and main utilities (Elec, water, gas, trash) WA - $2,000/Month. assumed same costs for utilities, and probably overestimated for property tax and HOA (ugh) the plan - with a lot of assumptions ​ sell home here, move proceeds into money market, find a short term rental in PNW while we look for a place. the interest earned can help offset the rental. i think it'll be challenging to time it where we sell/close here and buy up there. would still love to do it seamlessly but the above will be fallback buy home up there via cash. based on conservative estimates we would only net roughly $525k. this means we'd still need to come up with at least $100k - $150k in cash. while we have $80k in immediate cash, i do have some individual stocks (long) that i can sell to make up the difference. i won't be touching and retirement accounts. there will be tax implications (selling securities and home), but because of the $500k capital gains "exception/shelter" on home sales, we can avoid most of it. dont think we'd get pushed into the next tax bracket how much we can get for our home here is also another factor. the "ideal" result live in an area we like save couple thousand a month by not having a mortgage and no income tax (we'd make sure to budget to avoid lifestyle creep with "additional" money, and also to help recoup the cash we used) be in a better situation for retirement because of the above ​ so theres a lot of assumptions here, welcome any feedback....poke holes at this. there's no urgency - CA isn't bad at all....if we need to wait longer, save more cash then we'll do it... ​ ​ submitted by /u/No_Measurement_4176 [link] [comments]

  • It's been almost 2 years since the Yield Curve inverted. When's that recession happening again?
    by /u/qscvg (wallstreetbets) on April 12, 2024 at 1:47 pm

    submitted by /u/qscvg [link] [comments]

  • Reached 100k NW today!
    by /u/paopu_boy (Financial Independence / Retire Early) on April 12, 2024 at 1:33 pm

    Been following this sub since I was 22, I'm now 29 and just this month reached a NW > $100k (105k specifically). I've invested pretty aggressively during this time and had substantial increases in income from switching jobs once, and was lucky enough to buy a condo during the interest rate lows and the cost of living has been pretty steady. I live near a big city in the midwest. Here's a rundown of how I got here: Graduated college in 2018 at 23 w/ $7500 debt, got a job right out of school making $52k while living with mom and dad. I put everything I could into the debt and wiped it out before summer was over (1/3 of it was from graduation money from relatives and friends). Was lucky enough to get my dad's 2015 Camry after he got himself a new car which I still drive and is fully paid off. Fall 2019 on my 25th birthday I open my first Roth IRA and max it out each year. All in on VTI + SCHD (60/40 split), and an individual brokerage for stocks. Other than this I've just been saving where I can and spending money on fun and vacations here and there. March 2020 I move out into a studio apartment paying $1000/month in rent + $250 in other bills. Covid hits which helped me prevent spending on weekends, my biggest expenses were food and gas since I was still commuting. December 2020 with interest rates being low I find a condo for sale for $170,000 and put $40k down, took a $129k loan with a 2.875% IR (fixed). For the first 3 years my monthly payment + bills was around $1100. Taxes have gone up and now paying closer to $1400. February 2021 I get a new job and my income goes from $54k to $85k. Spent the next few months getting things for my new place so savings/investing rate was pretty low. Plus things were opening up again and I started going out and traveling more so I was spending much more than the previous years. February 2022 I get a raise from $85k to $110k, crossing the six figure mark! August 2022 I get a new job offer for $140k, but get a matching counter offer from my current employer at the time, so I stay. Lifestyle creep definitely happened during this year with the big jumps, and with the market crashing from 2021 highs I was hesitant to invest as much as before (which ended up being my biggest regret given where we are now). August 2023 I get promoted and a raise to $154k. 2023 was also where I started contributing to my company's 401k and maxed it out for 2023, and looking to do the same going forward. Doing this with my HSA as well. Still had a god bit of lifestyle creep though which I'm not proud of. 2024 I'm making investing a priority again, and building my savings for emergencies and a down payment in the future. Being a lot more disciplined going forward. Today's numbers: Monthly income: $8,936 Bills: $1500 Individual Brokerage: $76,332 Roth IRA: $41,246 (was $18k before I did a conversion from a traditional) HSA: $4,926 401k: $37,369 Home equity: $48,367 Cash: $4,600 (working on this to have a proper emergency fund) Car trade-in: $11,000 Home loan: $119,000 So you can probably guess that the 3x increase in income plus not worrying about rent increases nationwide helped me get here. It's not lost on me that a lot of this comes from luck and privilege, but I've always enjoyed reading stories on here of people reaching milestones at all ages and am excited to share my first. For those wondering, the initial big income increase in job hopping came from switching from a lab job to software engineering in fintech, which tends to pay pretty well. The jump from $85k to $110k was supposed to actually be to $90k, but I made a strong case for myself and got the boost. TLDR: Graduated college with relatively little debt, job hopped once to a different field and tripled my income, and purchased a condo at really low interest rates and sale price, all while making investing and saving a priority where I could. Regret not investing more in 2022 when the market was crashing but hey that's life. My next milestone goal is $200k, which I hope I can get to by the end of 2025 if all goes well! May look for a new job in the near future to further increase income, but the tech market hasn't been great lately so that may take some time. submitted by /u/paopu_boy [link] [comments]

  • Daily FI discussion thread - Friday, April 12, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on April 12, 2024 at 9:02 am

    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. submitted by /u/AutoModerator [link] [comments]

  • "Barista" Fire to retire as early as possible with my partner (age-gap relationship)? What to do and where to begin? Help!!!!!
    by /u/Proper_Jellyfish_444 (Financial Independence / Retire Early) on April 12, 2024 at 2:40 am

    Hi! I'm 30 and my partner is 48. I want to be able to retire as early as possible to enjoy as much life with him as possible. That being said, I never considered retiring early before meeting my partner. I'd like to "retire" in 12-15 years and ideally only a couple of years after my partner. He can retire as early as 55 but as of now plans to retire closer to 60. I'm aiming to "barista fire" where I have a comfortable part-time job. I am adjunct faculty at a university in the area and so I plan to continue adjunct instruction in retirement. I say this recognizing I have absolutely nothing started as of now in terms of funds to retire and so I feel a part-time job will be absolutely necessary for me. And I have no clue where to begin and what I should be doing to try and make this a reality!!!!! Here is my current financial situation: I make $130,000 per year and live in a HCOL area. I am a state employee with a pension. I contribute 6% of my salary into my pension system. After taxes and health insurance, and after rent car groceries etc. I have approximately $2000 remaining to save/invest per month. I currently do not contribute into a 403b (which is available to me through my employer and I can begin at any time). I have $75,000 in a traditional savings account. Aside from that, I have nothing in any Roth/403/invest accounts nor do I own any assets (ie real estate). On the bright side, I have absolutely no debt. I am not really counting my pension because I will only have 12-17 years in the system with the retirement window I am looking at, and therefore I will only receive partial benefits. I'm thinking of it really being a source of beer money/fun money/travel money. My partner is also a state employee and will retire with full benefits including health insurance (which I will be able to receive)--but the benefits will pass with him. And sadly due to our age difference I cannot consider this as a factor for my finances anticipating that I outlive him (but with life, we never really know and I am grateful for every day I get to love him). So I know I will need to consider health insurance in my later years. For the purposes of making sure I am prepared for this barista fire life, I rather plan on truly being financially independent with no significant other/additional income involved in the finances. Just a reality of the age differences, and if anything I feel it will help me be more prepared for life on my own with this mindset. Aside from saving for retirement, I also need to plan to save for a home. My partner and I are hoping to purchase a home next year, so I am looking to consider having funds available for this as well. I'm not sure what, if any, of my current savings of $75,000 should remain towards house funds vs. retirement. Also--no children. Any and all advice is so greatly appreciated! submitted by /u/Proper_Jellyfish_444 [link] [comments]

  • Choices once you reach FI
    by /u/Agreeable-Math-9517 (Financial Independence / Retire Early) on April 11, 2024 at 9:35 pm

    Good perspective from James Clear’s 321 email today. Once you have reached FI, this is a good way to think of your future. "If you already live a comfortable life, then choosing to make more money but live a worse daily life is a bad trade. And yet, we talk ourselves into it all the time. We take promotions that pay more, but swallow our free time. We already have a successful business, but we break ourselves trying to make it even more successful. Too much focus on wealth, not enough focus on lifestyle." submitted by /u/Agreeable-Math-9517 [link] [comments]

  • Most Anticipated Earnings Releases for the week beginning April 15th, 2024
    by /u/rylar (wallstreetbets) on April 11, 2024 at 5:38 pm

    submitted by /u/rylar [link] [comments]

  • As a lifelong renter, we stumbled onto our dream home. Should we buy or continue renting?
    by /u/matrilr (Financial Independence / Retire Early) on April 11, 2024 at 3:25 pm

    I'm thinking emotionally right now and just want to get some outside opinions who'd be far more rational than me right now. My husband and I (in our mid-30s) recently stumbled onto a fully renovated 2BR 2BA co-op in our neighborhood, where the owner, who's allegedly a developer and have procured the required permits, has redone the electrical wiring and plumbing of the entire place and fully renovated everything so every appliance, flooring, and countertop is brand new. Man, is it spacious and gorgeous. It looks luxurious, and honestly seems over the top at times with 2 fridges AND 2 bathrooms. A real estate agent who's also our friend has worked with us to put in an offer for $700k with a plan to negotiate, and the owner countered with $790k and apparently it's his hard limit. According to the seller's agent (who talked to our agent), they've also gotten a few offers around $700k - $730k but it sounds like no one wants to pay what the owner is asking for but it is possible if the owner waits long enough, someone would swoop in with that high number. My dilemma is... whether we should cave and pay for what the owner is asking for, because I'm not sure we'll ever find something quite like it again, without doing the extensive renovations ourselves. (The owner apparently spent close to $300k in renovation costs, but who knows if that's true.) In addition, the maintenance fees are also quite low for the area, at around $820/month. We're currently renting in NYC in a rent-stabilized 2BR apartment for $2,900, where I expect rent will go up 2%-3% every year depending on the whims of the Rent Guidelines Board. This apartment we're living in now is fairly mediocre but livable, and nowhere near as spacious as the co-op we just saw. (There's also no way to install a bidet because our toilet is tankless, which is my dream toilet lol.) And since this is rent-stabilized, we basically thought this will be where we will stay forever, until we saw the dream co-op. Some household numbers: * Net worth: $1.1m * Cash (in Wealthfront accruing 5% currently): $52k (credit card balances $10k; we pay off the statement balances every month and don't accrue interest) * Retirement accounts: $929k * Brokerage account: $115k (I've been using this account—invested in VTSAX—to save for a downpayment, but if we end up not buying, this will be our pot of retirement money) * 0 debt * Income: $238k (pre-tax) Combined monthly take home pay (we max out our 401ks): $11k * Monthly mortgage assuming the co-op we're buying is $790k (including maintenance fees): $4.9k * Compared to our current rent of $2.9k If we do end up buying, we'll liquidate our brokerage account ($115k), take out maybe $23k from our savings account, and then take out $20k from our Roth IRAs (which I read can be taken out tax free for buying a home) all for our downpayment ($158k). Right now, with our plan to rent for life, there's that financial security mentally because I think we live fairly comfortably. So much so, we can coast by and pay for travel and activities—truly enjoying life—without worrying our occasional frivolous expense will dent our bank account one bit. The highest total monthly expenses we've had per month is $9k (especially when we're traveling, and we do travel every few months) and lowest is around $6k. Since hitting the $1m mark, it truly felt we could perhaps retire early in 10 years and continue to enjoy life as-is. It does seem like our retirement accounts are continuing to compound at a rapid pace that we could perhaps even stop contributing to our brokerage account post-tax ($1.6k/month). All of this long text boils down to one question that I'm sure have been asked to death around here: could we afford this $790k dream home? Our ideal max would've been $700k which we could perhaps even stretch to $750k. In typing all this, I feel like the rational answer is no, we shouldn't buy. I know ultimately we're the ones who will have to decide, but I'd definitely appreciate some thoughts/opinions since I know next to nothing about homeownership since we've been renting all our lives. Thank you! submitted by /u/matrilr [link] [comments]

  • Daily FI discussion thread - Thursday, April 11, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on April 11, 2024 at 9:02 am

    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. submitted by /u/AutoModerator [link] [comments]

  • Just reached 200k as a freelancer
    by /u/zxyzyxz (Financial Independence / Retire Early) on April 11, 2024 at 8:16 am

    I thought this might be interesting as I don't see many stories about freelancing in the FIRE community, at least that I've searched for on reddit at least. I'm 27 living in a VHCoL area (just due to having friends here) and I work in software but not at any long term job, I do more contracts, 6 months at a time or so. Most of my capital accumulation has actually been through my solo 401k which has the benefit of fully maximizing both the employer and employee contribution, as well as allowing mega backdoor Roth (it depends on the provider, I use MySolo401k which allows this rather than something like Fidelity or traditional solo 401k providers). Even though I started a while ago, I have not actually consistently made over 100k every year simply due to the nature of the boom and bust cycles of freelancing, and some years it's been half of that. I could have saved much more but every year I spend 1 to 3 months traveling (except 2020) which more than makes up for not saving as much as my peers in the software world making 1 or 200k a year at FAANG. I am also not a digital nomad so it's not like I can work and travel. This is by choice as I've found that I can't get work done consistently when traveling and it also feels like I'm wasting my time if I'm sat at a desk for 8 hours a day, just in some foreign country. This summer I'll be spending 3 months in Europe and it'll likely cost 10 to 15k total for the trip but that's worth it over needing to wait until I'm 45 to then go travel for longer terms. I believe I could coastFIRE from my current amount, based on calculators showing that 200k equals 1 million at age 60 with no additional contributions. submitted by /u/zxyzyxz [link] [comments]

  • The Worst Part of a Wall Street Career May Be Coming to an End
    by /u/Majano57 (Financial news and views) on April 11, 2024 at 3:27 am

    submitted by /u/Majano57 [link] [comments]

  • Hey all, meet Bob and Alice. We're new to this but trying to plan for FIRE and could use some feedback - thanks in advance!
    by /u/fire_fightin (Financial Independence / Retire Early) on April 10, 2024 at 11:44 pm

    EDIT: Fixed some dumb mistakes - thanks for pointing them out! Throwaway account - tried to summarize situation as succinctly as possible below and included thoughts/questions at the end. Eager to hear any/all feedback - thank you! ---- Age + Background I'm 28 and my fiancée is 30 - we'll call me Bob and my fiancée Alice. We both work in finance, myself at a fintech startup and my fiancée at a small hedge fund. We met at our first finance job where we worked for a large mutual fund investment management company, and we've been together for 5+ years. We bought our current house together in late 2022. We live in the US. Fixed rate 30y mortgage. Alice dislikes job and has been wanting to move on but feels trapped, whereas I'm okay with mine as I'm passionate about my industry. No kids, 1 puppy ---- Annual Income Combined Total: $285,000 Bob: $125k base + $15k bonus Alice: $110k base + $35k bonus Annual Expenses Combined Total: $130,627 General: $72,000 Living Expenses: $60,000 Health Care: $6,000 Travel: $6,000 House Related: $30,601 Mortgage: $26,375 Mortgage Insurance: $1,000 Flood Insurance: $1,090 HOA Fees: $2,135 Taxes: $28,026* (doesn’t include income tax) School Taxes: $11,000 Property Taxes: $10,000 Special ASMT Area Fee: $3,000 City Taxes: $3,000 County Taxes: $1,026 Annual Savings Combined Total: $154,373 --> ($285,000 income - $130,627 expense) ---- Assets Combined Total: $1,186,668 SECTION (1) - Unrestricted/Vested Assets: $671,668 Cash Equivalents: $47,182 Equities: $510,311 Post-Tax: $432,376 Alice - Taxable Accounts: $95,930 Alice - Roth 401ks: $70,703 Alice - Roth IRA: $71,071 Bob - Roth 401ks: $192,059 Bob - Roth IRA: $103,969 Pre-Tax: $77,935 Alice - Trad 401ks: $34,694 Bob - Trad 401ks: $43,241 Digital Assets: $114,175 Bob - Bitcoin: $102,531 Alice - Bitcoin: $10,585 Alice - Ethereum: $1,059 SECTION (2) Illiquid Assets: $515,000 Real Estate (Our House): $515,000 Liabilities Combined Total: $417,851 Mortgage Outstanding Principal: $417,851 Equity Combined Total: $768,934 --> ($1,186,785 Assets - $417,851 Liabilities) ---- Thoughts/Questions We have a lot of after-tax investments relative to pre-tax investments. I personally have always felt a certain peace of mind in knowing my roth contributions can be withdrawn tax free if needed, and I also worry about future tax regimes so I'm a little averse to deferring taxes now in the hopes that I won't be taxed out the wazoo at bonkers rates later. It's hard for me to gauge appropriate inflation expectations for everything (income, expenses, assets). What's a reasonable/conservative way to forecast these things over multiple decades? Each year, retirement account contribution limits will probably get adjusted upward for inflation (but fail to fully capture its impact), tax rates may change, and certain types of expenses may inflate more than others. What are some good ways to handle these nuances when forecasting? And last but not least - I'm hoping it's reasonable for us to retire sometime in our 40s if we can continue increasing our income and our investments perform reasonably well. Does this seem doable for us? Thank you in advance for your help! submitted by /u/fire_fightin [link] [comments]

  • BLS confirms some people get CPI data Early (not real title)
    by /u/chalbersma (Financial news and views) on April 10, 2024 at 8:10 pm

    submitted by /u/chalbersma [link] [comments]

  • Retired but now need to provide proof of income?
    by /u/kjkjkj2 (Financial Independence / Retire Early) on April 10, 2024 at 5:13 pm

    I retired so I have no income now, but some places are asking me for proof of income, such as apartment rental agreement. I also am considering moving abroad and getting a permanent residency Visa in another country. I am being told I will have to provide proof of income to get the Visa. Any suggestions? I was thinking about getting a job as an English or math teacher online for a couple months and then hoping they provide some form of proof of income such as deposits in my account or a pay stub. I don't think they will accept a document showing my assets. Edit: what about dividend income or capital gains income from my investments? submitted by /u/kjkjkj2 [link] [comments]

  • Which should I do? Roth IRA vs. HYS for property?
    by /u/Trilobitememes1515 (Financial Independence / Retire Early) on April 10, 2024 at 1:44 pm

    Hello all! First time poster and long time lurker in this sub. I was about to text my dad this question but figured I’d get more feedback from this community. I’m early in my non-aggressive FIRE journey (28F), with a goal retirement age of 55. I’m simultaneously saving for retirement and a house for myself and my partner right now, which we plan to contribute 50/50 on. We want to begin shopping for a house in 2025 so we’re as prepared as possible for the market, and keep our currently low rent through the end of our lease. We hope to begin investing in more variable stocks once we transition from renters to property owners. We both had student loans to pay off, no option for family help, and live in a LCOL area, but are comparatively high earners for our area. My numbers may seem a little behind. They are currently separate from my partner’s numbers because they works in a different field and, honestly, I don’t know how their retirement accounts work (pension, public stuff). Current numbers: $16k in Roth IRA, intend to max out for the first time in 2024 $40k in Trad IRA, don’t contribute to this, just transfers from old 401ks from old jobs $9k in 401k, contributing 13% pre-tax and 2% post-tax. I’ve been at this company for less than a year and finally got the employer match, 4%, at the 6-month mark. $32k in HYS, split between two accounts: emergency ($7k) and house ($25k). Now, my question is this: Would I get better returns within the year if I pull from my house HYS to max out my Roth IRA earlier in the year? I’ve currently been adding $500/month to my Roth, expecting to max it out at the end of the year when bonuses come out. I’ve been adding $200/month to the house HYS and focusing on bulking the emergency HYS with my usual contribution ($500/month) and any extra liquid funds. Where we live, a “good” house is $250k, and each of us has enough to buy already. We’re still waiting until next year because our rent is locked in so low. So, I could pull from the house HYS today, max out my remaining Roth IRA for the year, and contribute enough throughout the year to return my house HYS by the time I need the money. I’d lose total HYS returns, but gain Roth IRA returns. I’m not very market savvy so I’m not sure what the best approach is. Thank you all for your help! I’ve learned so much from this sub already. submitted by /u/Trilobitememes1515 [link] [comments]

  • Weekly Self-Promotion Thread - Wednesday, April 10, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on April 10, 2024 at 9:03 am

    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. submitted by /u/AutoModerator [link] [comments]

  • Daily FI discussion thread - Wednesday, April 10, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on April 10, 2024 at 9:02 am

    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. submitted by /u/AutoModerator [link] [comments]

  • 💰 My Batch Group Expense Sharing Solution with Categories for Accurate YNAB Tracking
    by /u/khotte (Financial Independence / Retire Early) on April 9, 2024 at 8:16 pm

    💰 My Batch Group Expense Sharing Solution with Categories for Accurate YNAB Tracking Hello, wonderful community of r/financialindependence! I've embarked on a journey to create something tailored specifically to my needs as a meticulous budgeter and finance enthusiast. Let me tell you a bit about why and how. 👀 Take a peek: at what it looks like here: https://imgur.com/a/PY8Bq3c 📋 Make a copy here: https://docs.google.com/spreadsheets/d/1CTgQGhrkIMy69l81\_vsow\_o6X7Poj\_jybWc4GPLmAvI/edit?usp=sharing 🌱 The Genesis of My Project For years, I've been a loyal user of Splitwise, especially valuing its 'Simplify Debts' feature and the convenience of web-based entry. However, with their new limitation to three transactions (unless you pay for Pro), my patience waned. My quest for an alternative began, only to find myself entangled in a web of apps that were either too clunky, too restrictive, or too ad-heavy. From Splid only being available via an app, to Tricount retiring its web app, and Settle Up hiding essential features behind a paywall, none met my criteria. I just wanted a simple & efficient way to split expenses while being able to categorize them for accurate spending in YNAB, especially as a dedicated YNAB user since 2012. spliit.app is close and I love that its open source, but it still doesn't have everything I need. Also, having to click so many times to enter transactions one by one keeps me from using it. 💼 My Edge Case: YNAB Split Transaction Category Reconciliation As someone who meticulously categorizes every penny in YNAB (and has since 2012), I found no service that allowed me to accurately reflect my spending or owed amounts BY category in split transactions and/or allow me to quickly enter lots of transactions at once as I often do. The existing options either required far too many clicks, required me to register for an account, were behind a paywall, or lacked the necessary detail for me to categorize my spending correctly. 🔨 So, I Built My Own Solution Frustrated but motivated, I turned to Google Sheets and Google App Script to craft my ideal expense-splitting tool. Here's what sets it apart: 🌟 Differentiating Features: 💻 Web-based via Google Sheets: Accessible on any device, anytime, without the need for a specific app. 🚀 Batch Entry: Enter all your transactions in one go, without a myriad of clicks for each. 📊 Detailed Category by Person: Perfect for YNAB users, allowing for accurate tracking with category-specific spending and owed amounts. 🎉 And, All the Favorites: 🔄 Uneven Splits by Transaction: Flexibility to divide expenses in just the right way. 💡 Simplified Debts: A beloved feature from Splitwise, ensuring the least amount of payments needed. 💸 Suggested Reimbursements: Smart suggestions for who owes what to whom. 🤝 Share with Friends: Easily invite friends to add their transactions, making group expense tracking a breeze. 🌍 Multiple Currencies: Enter transactions in multiple currencies and select your preferred settlement currency for seamless global expense management. 🔢 Total Balances by Person: Keep track of each person’s financial involvement at a glance. 🚫 No Ads: Enjoy an uninterrupted experience. 📝 No Registration Required: (Google Authentication) - Start using it right away with your Google account. 📘 Comprehensive Guide Navigating through this tool is designed to be intuitive, with several tabs and functionalities to make expense tracking and splitting effortless. Here’s a quick rundown of what each section does and how to use it: 1. Sheets Overview Transactions Tab Expenses: Enter up to 100 transactions here, including details like store name, category, amount, who paid, and whether it was split evenly. Names: Add names across the top row. Use checkboxes to indicate who was involved in each transaction. A checker column ensures that someone must be involved in the transaction if an amount paid by is filled out. Additionally conditional formatting to highlight if a box is checked but no name is filled in at the top. Amounts Owed: Calculates what each person owes per transaction. If a transaction wasn’t split evenly, you can manually adjust amounts here. A checker column ensures the total matches the sum of all people involved. Balances: Displays the total amount each participant paid, how much they owe, and any gap created for each person. Transactions: Auto-calculates up to 8 transactions but allows for manual adjustments for reconciliation. Suggested Reimbursements: After clicking the green run button in the top right, this section suggests optimized reimbursements between participants. It shows who owes who and how much, with a checkbox to mark payments as received. Debts by Category Tab For those who are like me and have never been able to accurately input a YNAB split transaction with an entire group spending portfolio, this tab is for you! It allows you to see how much each person paid, owed, and their net spending per category. You can use this table as a guide for your YNAB transaction to show what you owe and are owed by category. This detail ensures that even if multiple payments are made or received, your YNAB split transactions accurately reflect your spending. 2. How to Use This Tool: Make a Copy: This ensures you get both the spreadsheet and the attached Google Apps Script functionality. Enter Your Information: I find viewing at 90% zoom comfortable, but adjust as you see fit! Share With Friends: Allow them to enter their expenses for collaborative use. Authorize the Script: Click the green button with exchange arrows to the right. A pop-up will ask for authorization to run the script. You might encounter a warning since the script is custom; follow the prompts to proceed and authorize. Run the Script: Once authorized, click the green button again to run the script and watch the magic happen! Navigation & Expander Buttons: Find buttons in the top right to toggle between the Expenses tab and the YNAB tab. A dedicated button also exists to run the script, auto-populating transactions and suggested reimbursements. Also, you can find expanders to enter more names (up to 10!) 3. Initial Setup and Authorization: For first-time users or those unfamiliar with Google Apps Script, there's a simple authorization process to allow the script to run. This process is a one-time setup to ensure your data's security and privacy. After making your copy and when you're ready, click the green button to initiate the script. Follow the on-screen instructions to authorize, ensuring you’re comfortable with the permissions requested. Once authorized, you’re all set to use the full functionalities of the sheet! 🏁 Conclusion This tool is designed to make expense splitting not just easy, but transparent and fair for everyone involved. Whether it's a group trip, shared living expenses, or any scenario involving multiple payers, this tool aims to simplify the process. I eagerly await your feedback, suggestions, or any features you think could enhance this tool further. Let's make expense management a breeze together! 💌 My Promise and Invitation This tool was born out of personal need and a desire to fill a gap that existing solutions couldn't. I have no intention to monetize it – sharing it is simply my way of giving back to the community. I'd be thrilled to hear your thoughts, feedback, or any features you feel are missing. Your insights will be invaluable in refining and enhancing this tool for all of us. This was just a little side project for me which helped me start to use Google Apps Script and Java for the first time. It helped to solve a pain I had with expense management and I figured since I had a use case for it, maybe others would too. Thanks for reading, and I can't wait to hear from you! submitted by /u/khotte [link] [comments]

  • Daily FI discussion thread - Tuesday, April 09, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on April 9, 2024 at 9:02 am

    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. submitted by /u/AutoModerator [link] [comments]

  • Retired early 9 months ago. Reflections so far.
    by /u/firechoice85 (Financial Independence / Retire Early) on April 8, 2024 at 8:49 pm

    I retired about 9 months ago at the age of 41. Spouse was/is a sahm, and now I am stay-at-home-dad, or sahd. Am not sad however, FIRE is pretty great. My experience is pretty similar to what has been reported. I don't miss the work or my professional identity. I do miss the people. My friends are in the most intense decade of their careers, climbing corporate ladders and achieving new heights. Before retiring, I really worried about envy getting the better of me. I'm downshifting at the exact moment that a lot of people in our circle our shifting to bigger houses, newer cars, more important sounding job responsibilities. It has taken me some time to come to terms with that. Now I'm just happy for my friends, and anyone who is working towards more. I'm working on random ideas. Initially I was drawn to starting some entrepreneurial venture. The momentum of a 20+ year career and intense work ethic just drew me to "do something". 9 months in, I'm finally beginning to not feel the monetary tug. Now I'm just dabbling in my interests. And totally OK with them changing every week. I'm super grateful for the opportunity to have FIRE'd. I love the time with my little kids. So precious and they grow so damn fast. Love every second with them. My relationship with my spouse has never been better. Somehow, she doesn't seem to ever get sick of me. In terms of numbers, we are spending a bit less than 2% of NW. I know that is extra conservative. We have a large nest egg and we spend freely on stuff and services that we value. I'm setting up a philanthropic organization where a good chunk of the accumulated wealth will go. Thanks for reading, and I'll report back again at the 1 year mark! submitted by /u/firechoice85 [link] [comments]

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