Tag: make money from web scraping

Depending on your location, risk appetite and scale of investment, the idea can generate $350 to $7000 (INR 30,000 to 6,00,000) monthly…Continue reading on Long. Sweet. Valuable. »

Most people don’t know that they can actually use Google and this free AI tool to make over $100 in less than 30 minutes. Go to Google and…Continue reading on Medium »

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In today’s digital age, the quest for sustainable passive income has become a priority for many individuals seeking financial freedom and…Continue reading on Medium »

I didn’t expect to earn that much this April as a Medium Writer.Continue reading on Word Garden »

Imagine a world where your money works for you, generating income while you sleep, travel, or pursue your passions.Continue reading on Coinmonks »

Today is full of good news. For a long time, there were no statements from the Notcoin team, moreover, there was some silence in the…Continue reading on Medium »

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I FIRED in May 2024. Then a friend asked me to come work with him on a passion project a few weeks later. I had planned to resign from this role at the end of this June. Carry COBRA for 18 months and then enroll in the ACA for 2026. Well, as Mike Tyson so eloquently put it; "Everyone has a plan until they are punched in the face." Doesn't look like my job will last until the end of June. Will probably end at the end of May. So this gives me a 1 month gap in health insurance in 2025. Are there any options where I can get health insurance for just that 1 month? submitted by /u/1200n [link] [comments]

In the ever-evolving digital landscape, affiliate marketing has emerged as a lucrative opportunity for individuals seeking financial…Continue reading on Medium »

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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]

Assume I retire at 45 with the following allocation for a ~5.8M total portfolio: Taxable: 2.6M (46% of total portfolio) Pre-tax: 2.5M(42%) Roth: 500k（9%） HSA: 170K (3%) Additionally I need to withdraw 3.5% to sustain my life style and my home is paid off. What would your withdrawl strategy be between 45-65 (SSN/Medicare eligible age) and 65+? For example, would you use Roth earlier on to lower the taxable income? If so, would you prioritize ACA subsidy, convert Pre-Tax to Roth earlier on, or something else? Curious to hear what's optimal. submitted by /u/Throwaway_tequila [link] [comments]

Did you know that some of the most lucrative ventures start with a surprisingly simple strategy? Take Dave Nick, for instance. He earns…Continue reading on Medium »

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As the title says. I think FI is a bit different from regular retirement. The target retirement date funds from one of the big players model regular retirement AA just fine. But with FI - it's a bit hard to know when to become more defensive. For one most people have a number in mind and then they hit it but don't really call it quits. They chase more. But if the markets tank in this period when they're over allocated to riskier assets like stocks it can be very demotivating if you loose even your original baseline fi amount. There are also various levels to FI. For example you could be coast fi, lean fi, fi, chubby fi, fat fi etc. At each of these levels you feel this desire to protect what you have instead of chasing more wealth. Is there a number where you decided you won the game and took less risk? Any pointers to portfolio construction that limits max drawdowns to some x%? submitted by /u/safog1 [link] [comments]

First time posting on reddit, throwaway account. I'm (38M) married with two kids and a wife and live in a semi-rural area in the Southeast US. Not looking to brag, I just don't have anyone to really discuss this with that I trust to give me good advice or that would understand. I grew up quite conservative (religious) and with a limited, private education (two notches better than homeschooled, but not complaining.) I didn't go to HS, but I did get my GED and did one semester of online college at Western International University. I couldn't afford tuition, had no support from my parents and was too impatient to see how an online instructor could teach me how to make my first million so I dropped out. I only say this for context, so you know I'm not some whizbang, highly educated individual. My first career was in the trades working in my father's company and I still like to work my hands at times. I became interested in real estate around the age of 15, began saving my money and bought my first house at 19 to rent out. By the age of 28, I quit my job in the trades and went into real estate full time, arbitraging/flipping and renting out my properties. At 28, my net worth was around 300k and I think I owned about 7 houses. Mind you, when I quit was married already with one kid (3 yrs old) and one due in 3-4 months. We nearly starved at times during those first 5-6 years. Later on, as I built up my cashflow and rental fleet, it got better and life got a little easier. Sidenote: it's no joke raising kids and starting a business. Fast-forward to today, I own $19.8m in real estate, of which I owe around 10.3m on. This leaves me a net worth of about $9.5m. Hard to believe this happened from age 28-38. Regardless, it happened pretty much due to me keeping my nose to the grindstone 6 days/week, making a couple of right moves, taking some big risks, getting lucky and catching the C19 tailwind. All of that said, I don't think I'm special, I just happened to be in the right place at the right time. I'll also interject that I still don't feel rich or financially independent. I think this is due to keeping so much of my money invested in real estate all the time that I never allow myself to see big numbers in the bank. The most I keep on hand is around 5-600k, with another 3-400k availabe on lines of credit. But that's all for the business of buying/selling, not personal consumption. I find it hard to pass up a good deal and it seems like I find at least one a month, sometimes more. Getting to my point; I'm thinking about the future, watching what's going on with the Fed and interest rates, seeing the money-printing that's happening or is about to happen, and while I think rates will come back down (only slightly) at some point, I also think the stock market is going to continue to do well over the long haul. Here are some of my thoughts around pivoting some of my investments away from real estate toward the markets. I'd like to hear your opinion about my strategy. I keep about 1.4m equity tied up in properties I'm actively flipping. This yields around 20-25% annually pre-tax. This number is pretty heavily sandbagged since I own some land that I think will ultimately bring quite a bit more than I have it down for. Speculative, I know, but I've valued it only at the fire-sale price. For the yield, I'm thinking I'd continue to do this. Maybe not quite as actively, seeing the housing market looks like it may be in a bull trap over the next 1-2 years but continuing as it's a great way to make money (for me.) Take 100-150k annually and contribute it to a taxable investment account. Use this to fund a mega backdoor roth for me, my wife and my kids (possibly. I want to teach my kids to work and make their own, not trying to shortcut them in life.) This is also the #1 consumer of my time, between managing crews and a part-time PM. 30-35 hours/week I have another 4.9m in equity tied up in rental property that, after debt service of 2.7m, yields about 9.7% annually. However, since we self-manage all of our own property this means that I have to service an office staff of two and cover costs of employees (payroll expenses, benefits, etc.) This means that same amount in markets would only need to yield about 8.5% to be comparable. While it's a shame that I can't 1031 into the stock market, I'd look to begin winding down the renting of houses and put that money into the markets. I think I'd lose about 1.1-1.3m in tax ineffeciency but it would put my 'passive' investments into the markets and out of real estate, hopefully making them truly passive. After commissions (my wife is a realtor), I should be left with about 3.2-3.4m. This sucks but I don't really know of any other good way to get out of real esate and into the markets. I would put a bulk of this money into the VOO (S&P 500 Index) and let it ride. I would certainly be tempted to put some of it into equities and likely sell covered calls and trade semi-actively to grow it, if I had nothing else to do with my time. The second part of this plan would be to do an annual mega backdoor roth strategy to move this money to a tax-advantaged arrangement as quickly as possible. This is the #2 consumer of my time, taking probably 10 hours/week usually, but not all at once. Like 1-1.5 hours/day. No escaping to the beach for 10 days with no phone ringing. (I know, it's how I've trained my people but it's also how I've made my money; by being involved.) Alternative to selling everything: Reduce the time and effort by converting rentals into long-term mortgages by selling via owner-finance. My CPA says I would only have to pay income tax on the priniciple received + interest earned for the year. Obviously, I would still pay the taxes but this would keep a nice 50-60k/mo stream of income coming in, likely at a nice 8-10% interest rate (sold and financed over 30 years.) I have another $1m+/- tied up in a self-storage facility I built last year that I'm thinking of liquidating. It has the potential to make 100-125k/yr after debt service in 2-3 years but I got caught with rising interest rates and while 100-125k isn't bad, it was supposed to be 250k+/annually. This is a 4.7m investment (no capital of mine, did it 100% with the bank's money) so it's technically an infinite return but I still have to manage the employees there and deal with it taking up space in my head. Sell this, capture the $1m and take the hit on the taxes. Pay off some higher interest debt (500k @ 7-8% money), buy 100-150k worth of Tesla and put the rest into the flipping business or HYSA This would be a big mental relief. Right now that place is burning 15-20k/mo in debt service that's coming from equity. I have about 6 months to go before I have to refi and pull out more cash (bank says they'll loan it at 8.5%.) When I had it appraised prior to construction, they told me it would be worth 8.5-9m stabilized (about 36 months in.) Now the brokers are telling me I'd be lucky to get $6m on a proforma. Thanks Jerome Powell. Real estate joke: Want to know why they call them brokers? A: Because they're broker than you are. This would also free up my creativity and brain space to go develop some other stuff in the future instead of riding this thing out to stabilization and burning another 5-600k over the next 2-2.5 years. I'm a licensed commercial GC in 2, soon to be 3 states in the southeast and could build/develop other opportunities if real esate turned back great and interest came back down. Just because I'd sell my houses doesn't mean I'm out for life. I think I could find my way back in. I also have about 750k in some great commerical assets that's going to do well so my exposure to long-term real estate holdings would not be going away. The rest of my holdings (about 1.45m) is tied up in crypto, Roth IRA, cash holdings and personal belongings/things I can't really sell. I really dislike there's this much dead weight, especially on personal items, I've been looking over this list and I think I could extract about 200k if I decided to trim some fat. Which I likely should do. I guess my overarching thought is that real estate won't continue to compound like it has in the last several years, and while it always goes up, houses always need maintenance and attention. If I shift my money to the markets, while some years may not be that great, those would be the years to buy the dip. I believe (and here I could be wrong) that the markets are more likely to compound at a true 6-10% annually. I'm also thinking I would do well to execute the move to the markets over a 2-3 year period. I would accelerate this if I thought things were going from bad to worse but I would do this so as to maximize the gain leaving the real estate market. Lastly, while I'm not really wanting to retire early, I do need to pay attention to my health. The stress is pretty rough at times and I've gained a good 40 lbs since I started 10 years ago. It seems like the time has come to pivot to (possibly) lower returns in exchange for a higher quality of life. I haven't had a real vacation ever really. I've worked a lot of hours ever since I started working full time at 14.5. The longest vacation I've ever taken was my honeymoon at 23; it was 7 days and I was worried sick about getting back to work. Most time away is 3 days at the most, and even then it's just to see family over the holidays. Anymore, the work and the money just sort of make me numb. I like the work, it takes time and effort and is sometimes stressful but I sort of know what to do so I'm more just going through the motions. The money is nice but it seems like it's more just numbers on a spreadsheet and money flowing around. No real joy from landing a big deal or anything like that. There used to be more relief in buying than in selling, now it's the other way around. And please, I'm not trying to humble-brag. I really just want to know if my thinking is accurate or not. Some will scoff and say "What a paltry sum!" and others may wish to have my problems. I say, just do you and do what makes you happy. That's what I've done, but it doesn't really make me happy anymore now that it seems to own me more than I own it. What would you do? TLDR: Pivot from income real estate to the stock market? submitted by /u/Financial_Bad8537 [link] [comments]

Why stating AI is taking your job is an exaggeration and how you can use AI to simplify tasks.Continue reading on Medium »

Welcome, fellow aspiring entrepreneurs! If you’re in your twenties and aiming to break into the digital marketing sector, you’ve chosen an…Continue reading on Medium »

What a morning! I woke up to a little lower temperature for May, but it soon started rising and turning into a nice warm day.Continue reading on Medium »

In today’s fast-paced world, finding ways to generate extra income quickly can be a game-changer. Whether you’re looking to cover an…Continue reading on Medium »

Some general notes: DINK 2023 HHI: About $250k 2024 HHI: Expected to be $300k About $150k is stable income and the rest is from side hustles (and may not continue after a few years due to burnout). Savings rate is about 60-70% Plans: Hit FI and RE in 15 years (equivalent to present day $200k annual withdrawal), but will have enough saved up to start coasting in about 3-4 four years and let savings compound until we hit FI. Purchase larger house in 5+ years (will need an additional $500-700k saved for it). Our vacation budget used to be about $2-3k a few years back when our HHI was about $120k. However our vacation spending has increased over time and now we are most likely going to spend close to $8k this year on a seven day trip. An area I have always struggled with is spending. I'm generally a relatively frugal person, and while my spouse has started saving into tax advantage accounts once we started planning our future, they have generally been the primary spender. My spouse is absolutely my priority and I will do everything I can to make them happy. However, I am VERY conscious about lifestyle creep. If we were able to maintain our current HHI indefinitely, then I would I say I am fine with our current vacation budget, but my fears of sustaining my side hustle as well as future lifestyle creep makes me hesitant about these lavish vacations. I should preface my spouse is EXTREMELY understanding and I know if I mentioned this directly to them they would immediately want to do a cheaper vacation to keep my happy and less stressed. Although spending less is ideal, these vacations are part of their hobby and I do want to keep them to certain degree. Does anyone have any advice or input to help out (I'm not entirely sure what a solution would look like)? A future vacation discussion came up and it sounded like next year it might bump up to $10k+, and I don't want to be stressed out every year when it comes to paying for it since it does take away from part of the excitement for both of us. submitted by /u/originalQazwsx [link] [comments]

This subreddit is for: People who are or want to become Financially Independent (FI), which means not having to work for money. So the question is do You have "Real-Life" friend(s) or family members who also have a FI mentality? I wish I had someone to bounce ideas, dreams and progress with in real life about saving, investing, not working early in life. (My wife currently enjoys working and it's her identity at the moment. She doesn't think about money as much or the same way I do...she just works and wants me to manage her finances. She doesn't really care about our net worth or our expenses). Everyone else I know seems to accept the fact that you work til 60 or 65.....if not for the money, then the employer healthcare. Talking about Personal Finance may not be openly shared since its viewed as Taboo topic. Consumerism and Materialism is crazy. So that makes me think having a FI mindset is pretty rare.....and most of the answers in this community will be "NO". Is this why we are drawn to this community with 2.2M members Btw, I guess there can be different extremes and approaches to FI as well: --Saving $200k and living Vanlife/overseas forever. --Owning rentals/a business that run themselves.....and not really having to work. I think the common medium approach is saving and investing...then continuing the current lifestyle living off of the saved nest egg. submitted by /u/Formal-Blueberry-203 [link] [comments]

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]

Previous post: https://www.reddit.com/r/financialindependence/comments/1bo2r77/how_to_feel_like_you_have_enough/ Hey folks! I know my last post was a bit controversial, but I thought I’d take the time to post an update especially since a bunch of people took the time to give advice that really helped me out in kind of a bad time. Tldr on last post: I acknowledge that I’m doing well, but I have a hard time enjoying it because I keep comparing myself to those who are doing better. I reflected on my last post with my partner and arrived on three main conclusions: I was overly focused on the past (“I should have taken a different job”, “I should have saved more”, etc.). I didn’t take enough time to appreciate what I have in the present I didn’t have a clear vision for what I wanted from my future For the first point, without getting too much into details, the biggest thing is that I spent the better part of my 20s making dumb financial decisions and squandering a good income. I made unnecessary purchases, took on debt, and got unlucky joining a company where promised stock turned out to be worth less than expected. As y’all know, you can’t change the past. The best time to improve your financial situation was yesterday, the next best time is today. For the second point, it helps to remind myself that I have a lot to be thankful for. Main things are: I have a beautiful family, far exceeding all expectations I ever had for my life I have a beautiful home I’m good at my job, it pays well, and affords me a great work/life balance We are ultimately very lucky, all things considered For the third point - we did a lot of soul searching and planned for what our ideal life would be like in retirement. A few points came to mind: Retiring once our kids leave home - once we’re 50, in the ideal case Being able to split time between where our kids settle down and the places where we’d like to travel Having the flexibility/ability to take on lower paying jobs in our 40s to pursue passions like teaching, volunteering, coaching, etc. We created a budget for retirement, modeled out our expected retirement balance given our current balance and savings rate, then made a plan for how we would get there. It all seems achievable at current income levels! My previous post was predicated on the notion that I’d need to find some way to increase my income in order to have the type of retirement I could be happy with. Either by climbing up the corporate ladder, joining another startup and getting lucky again, or starting my own company to make a fortune. Knowing that everything is achievable with our current income was a huge weight off my shoulders.Sure, I may not be the next Bezos, but I realized I can still have a very fulfilling life without sacrificing happiness to chase marginal increases in income. Thank you all for the advice and indulging my early mid-life crisis. I hope this cautionary tale helps at least one other person out there. submitted by /u/Weary-Map9384 [link] [comments]

Hey all, I am looking for a comprehensive calc that will help plan for retirement. I am looking to input current earnings, savings, retirement accounts, expenses, school/college for children etc. to gain an understanding of when I can comfortably retire; and how much would I need to retire. I used a few calcs available online and mentioned here and at /fire; but none take into account expenses; or allow me to play around with scenarios. I tried https://smartasset.com/retirement/retirement-calculator; https://ficalc.app/ and similar tools. The FIRE calcs are mainly focused on testing whether your savings are enough to retire comfortably by using monte carlo etc. What do you guys use? submitted by /u/Illustrious__Sign [link] [comments]

Hello, I am maxing out Roth 401k, HSA, SEP ( few thousand from side gig) and $20,000 for brokerage Wife works part time. , she does $8,000 traditional 403b and Backdoor Roth We are debating changing things up and maxing her traditional 403b with , what would have been , the brokerage money. This would allow me to do all/some of a Roth IRA and we should go under the AGI We have only $100,000 out side of our retirement accounts and 1.8 mil In those various accounts Ok to stay brokerage poor? We are 9-12 years from retirement Hope I included enough info Ty in advance submitted by /u/PisanoPA [link] [comments]

Hello! I am a 25M from Switzerland. I actually started investing about a year ago after reading about FIRE and such. But I recently discovered the Bogleheads sub, and reading through, I have some second thoughts about my portfolio, so I would really appreciate some feedback: 50% VOO 35% VXUS 15% Cash in CHF (Swiss Francs) My rationale at the time was: The only decent Swiss bond funds have had negative returns for a long time, and Swiss bonds in general have very poor returns; I'm better off holding the "safe part" of my portfolio as cash in a savings account and get at least ~1% interest. I chose VOO over VTI because companies in VOO have more income from ex-US markets than the smaller US companies, which reduces my exposure to USD (and thus the currency risk, i.e., my portfolio returns are less tied to the USD valuation). I thought this was important because CHF is a strong currency and typically appreciates compared to USD, and I didn't want to have such a significant part of my portfolio to rely on a single currency I'm not even using in my day to day life. However, I've seen that VTI is preferred over VOO for it's greater diversification, and now I'm wondering if I made a mistake by using VOO for my US equities component. My questions: Is there really a significant difference between VTI and VOO, considering they have such similar returns? Is the VTI recommendation geared more towards US investors, for whom the additional reliance on USD is not an issue? Am I fine just holding the course, or should I sell all my VOO and buy VTI instead? If I should sell the VOO, should I do it all in one transaction, or multiple ones over time? I'm afraid that if I sell, there might be market fluctuations in the 2 days until the transaction settles, and I might have to buy VTI back with a disadvantage. I've read in some comments that VTI is technically riskier than VOO because of the small caps, but it is a compensated risk, because they have higher returns over extremely long periods of time. What if I actually prefer lower risk / less volatility, would VOO be better suited for me in this case? Also, recently, I've been a bit concerned about the high tech concentration of VOO, and a potential AI bubble (I think a lot of the AI noise is just hype), and was wondering if I should diversify away more from that, and how. VTI is only slightly better than VOO in this regard. Extra questions: Should I overweight VXUS more? Would moving from VOO to VTI be sufficient for this purpose? Although it would defeat the purpose of not depending so much on the USD... Maybe add a small-cap value fund, like AVUV (I've read a bit about factor investing, but I'm not sure I would like the extra risk, even if it's compensated), so that I'd have something like 35% VOO + 15% AVUV? Again, it would defeat the purpose of reducing dependency on the USD... Note: I don't invest with a home country bias, because all the Swiss equity funds are concentrated 50-70% in 3-5 companies, which have < 5% earnings from Switzerland, so it wouldn't actually provide any meaningful domestic exposure, or any additional exposure to the CHF. Thanks in advance! x-posted from r/Bogleheads submitted by /u/Different_Bee435 [link] [comments]

Mike you can stop asking because… The data for the 2023 survey is now available. Woot woot. There are multiple tabs on the sheet: • Responses: The survey results after I did some minimal clean up work. • Summary Report – All: Summary that the survey software automatically kicks out (this is what folks were seeing after taking the survey). • Statistics – All: Statistics that the survey software automatically kicks out (this is what folks were seeing after taking the survey). • Removed: Responses that I removed as either suspected duplicates or because they were almost entirely blank. • Change Log: My notes on the clean-up work I did. And if you want some history, here are the prior results. I’m also linking the old Reddit posts when I released the data, you can see the old visualizations linked in those if you’re so inclined. 2022 Survey Results/ 2022 Response Post 2021 Survey Results/ 2021 Response Post 2020 Survey Results / 2020 Response Post 2018 Survey Results / 2017 Survey Results / 2017 Response Post 2016 Survey Results / 2016 Response Post Note: The 2016 - 2018 results are partial - all respondents were able to opt in or out of being in the spreadsheet, so only those who opted in are included. 2016 also suffered from a lack of clarity in the time period responses should cover, which was corrected in later versions. And if you really want to see a blast from the past… Here’s the very first survey that was ever posted And here’s how I wound up in charge of it… And here’s what we originally all wanted to get out of this thing. Reporters/Writers: Email redditfisurvey@gmail.com or send this account a private message (not a chat) with any inquiries. submitted by /u/Melonbalon [link] [comments]

Hi all, first time poster on here. I've down some reading and it seems that it's recommended to be able to save around 50% my income to start on the journey to financial independence and early retirement. The only problem is, I live in London and my max earnings in my job plateau relatively quickly. I'm a coffee roaster and my maximum potential salary is in the high 30s per year. With rent prices the way they are going, being able to save 50% of my income will be extremely difficult and will mean giving up the idea of any holidays or hobby purchases for the foreseeable future. How would you recommend increasing my total income in order to be able to hit that 50% savings per month mark ? I've tried out quite a few career paths and I enjoy the one I'm currently in so would like to stick to it. Ideally I'm looking for extra earnings on the side where I could gain a few hundred extra pounds a month whilst still having free time on the weekend to continue with my hobbies. Any ideas or recommendations would be greatly appreciated. Something I could do for an hour an evening, or for half a day on one of my days off. Cheers ! submitted by /u/Recent_Conclusion_56 [link] [comments]

Spouse and I are late 20’s, we have 125k in our 401ks and 170k in home equity between our primary residence and rental property. Typically we have about another revolving 7k in our checking account that we use to pay living expenses. When we started working about 5 years ago, we made 120k combined and now we make 200k combined. We are new to FIRE, so we are a little bit behind saving for retirement. We have always had a hard time not spending our extra money, so we chose to invest mostly pretax into our 401ks. We previously had a 25k emergency fund, which we recently drained down to 10k due to emergency expenses. Now that we have drained down our savings, I’m starting to feel regretful and stressed that we have saved mostly in our 401ks and have so much home equity. With owning a home, a rental and a dog there are many expenses that can come up. I feel like we would have been better off saving up more in cash and investing less. As you know 401ks and home equity are very difficult to access. We had a family meeting today and determined that in order to replenish our emergency fund without backing off of investing we will have to buckle down quite a bit, for the next year. During this period we will have very minimal spending money and no extra money to visit family for the holidays. I’m feeling a little demoralized by the consequences of this set back and where it’s leaving us. It’s a very bizarre feeling to have a 300k NW and to feel super stressed about money. I just didn’t imagine feeling this way when we got here. Does anyone have experience with this and how you came out of a period like this? submitted by /u/Current-Pen-7686 [link] [comments]

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]

I am 46 years old with 35% home equity. I am wondering how old everyone was when they paid off their house. Or if you still have a mortgage how old are you and what percent equity do you have? submitted by /u/RevolutionaryMap4745 [link] [comments]

How much weight do you give to your state's tax method in your decision about whether to allocate funds to a Roth IRA or Roth 401K (and other versions)? Consider the case of Pennsylvania. Pennsylvania does not allow pre-tax deduction of either IRA or 401K contributions. The state, however, does not tax any withdrawals from traditional IRA or 401K accounts. So for those taxpayers who live in PA throughout their worklife and retirement, there isn't much of a decision. However, there is a significant risk for those who work in PA but retire in a state that does tax those pre-tax withdrawals. It's likely those individuals will be taxed twice (when contributing in PA, and then when withdrawing) by the state. On the other hand, there is an opportunity for individuals who work in a state like Virginia which allows pre-tax contributions, and then move to Pennsylvania which does not tax those withdrawals. This situation is also true for individuals who move to a state with no income tax at all, but worked in a state with an income tax that allows pre-tax contributions. Secure 2.0 impacts this strategy a little by limiting the amount of contributions in a 401K that can be made pre-tax. submitted by /u/MikesGoldenDream [link] [comments]

It's hard to realize that it's happened. My company was acquired, and I chose to take a severance package. My last day was in January. The last couple of months I've taken up new hobbies and am slow traveling. It's been amazing. I've lost already a bunch of weight and am exercising regularly and eating better. I am 45, single, no kids. My portfolio ended up currently around $6M... of which $250K~ is in HYSA, $250K~ is in real estate, and $5.5M~ is in equities split across a number of ETFs between tax-advantaged and brokerage accounts. Most of the surge in my portfolio happened in the last two years via promotion and acquisition at work. The market upswinging fairly consistently from 2008 didn't suck either. My spending in southeast Asia is currently around $25-$30K a year. I decided this would be the most fun way to handle sequence of returns risks. I was averaging spending about $60-70K a year back in the US. I expect that to go up some with paying out for the ACA, traveling, and hobbies but probably not to exceed $100K. I did not come from money, but I grew up money adjacent. I'm the youngest of five, although we lived lean, we never had to go to bed hungry or anything like that. I am grateful for the start my parents were able to give my siblings and I. Yes, I did it through working in technology. First in engineering/development, then in engineering management before transitioning to product management and finally general management. I had an equal split of time in large corporations and startups and was very blessed to have some successful exits and to have kept working to be promoted. My career spanned 27 years basically continuously. I was also very lucky initially in my career: friends introduced me to a great startup in 2000, which I was able to hold onto my job (75% cuts in 2001, ouch) through the dotbomb. I continued to accrue equity, and the company was able to pull itself out of the tech death spiral and is a household name today. This opened up other doors and snowballed into a career with more ups than downs. Of course, I lived frugally like all of us do here in this community, it was bred into me by my family. I've never spent more than 4-figures on anything in my life, amazingly enough. The real estate was an inheritance and I've always rented apartments and have never bought a car. I paid for college class by class in night/extension schools, but I never graduated mostly because I didn't want to retain debt and the dotcom gold rush was on, and I was obsessed with technology. My first goal is to completely recompose my body to as close to my peak shape as possible. Health was finally the lever that allowed me to let go of working. Thankfully not due to some acute event--just being overweight and weak and tired of feeling unattractive. Not so surprisingly, my number one irrational fear is being destitute, so stopping work was a large mental struggle my whole life. Health was the only thing that could trump it. My second goal is to maintain & rekindle friendships and establish more deeply in my post-work community. I have been lucky to have practiced a whole crapton of hobbies over my life and some of those have led to lifelong friendships. Ideally, I'd also like to find a partner, but I know that will take time. My third goal is to establish some form of faux-homestead with enough space for friends and family to live there if they wish. My fourth goal is to improve myself through some of the aforementioned hobbies. Anyways, thanks for reading my book if you made it this far. I'll try to do updates if people show interest on some interval. This community has been a balm through rough years, the boring middle, and otherwise. Hopefully my story can give a little bit of wind in everyones sails that this can happen. Comparison is the thief of joy, but I hope examples of success can buoy our spirits. submitted by /u/fireaaahthrowaway [link] [comments]

Hello, everyone; I'm considering a scenario involving property investment and early inheritance, and I'd love to get your insights. FIRE is my primary financial goal, and I see this scenario as generally positive or worst-case neutral. I would like my internet friends to tell me differently if needed. Note: I would love feedback both for me AND my parents. The goal is a good/neutral deal for me and for them. Scenario: My 70 YO parents currently own a property in the USA. They are retired and would now like to move home to the UK. I also live in the USA and, coincidentally, have been interested in purchasing a property in the UK to rent out. While they planned to buy a place themselves, we have recently discussed an idea in which I buy the property using some early inheritance gifted from their existing house sale. I found some threads with this scenario, but no threads that had the added factor of early inheritance. Financial Commentary: I have no debt, 1M NW, no property, ~320k Annual Income. (GF makes similar). Outgoings around ~90k Early inheritance would be around 150K USD used for downpayment House would be around 450K USD On initial research, the early inheritance would not need to be taxed if parents fill a form in and use it as part of their total lifetime gift, allowance Estate Commentary: Their estate is to go 4 other places. The plan would modify their will to share anything they have with the remaining 3 people, and I would only get any variance left after the $150k early inheritance. (I.e., the house would not need to be sold as this would be 100% mine). Family Dynamics: My parents have good financial literacy (Bogleheads etc., helped me form good habits) They have never asked for any $, nor did they propose this My conclusions as Someone who has never bought a house before: Pro: I diversify some of my NW away from the stock market. Pro: I own a house (which I would like), and have reliable "tenants", no property management company Pro: I like the idea of potentially living in the UK again or moving back, and so this is an asset in an area I like for the future (it's my home village) Pro: Parents get more liquidity from their existing home sale and more liquidity by paying a lower monthly payment. This means they get more money to do more fun things (travel, etc.) Pro: Parents, as they are on fixed income, have to worry less about major repairs Pro: Parents may be able to afford a little bit more home than without me in on the deal Cons: I will have to pay a premium (Expat Mortgage for UK as a US resident, Buy to Let Mortgage Premium, Forex Costs, etc.) Cons: If they want to move house after X years or return to the USA, this would complicate things (my biggest concern). Cons: Foreign asset likely complicates my US Tax. Cons: If something happens to me, it could be of risk to them. (I would plan to modify my own will) Cons: I could potentially generate more income over the life of the mortgage with other tenants and keep rental prices in line with market trends. (To me, this is an acceptable con because if my parents get a happier last years, it is worth it, and I see it as me paying them back (partially) for the support I got growing up) I have no explicit plans for my life right now. My girlfriend and I assume we would want to buy in the USA in the next few years, but with our current incomes plus this new concept of early inheritance, we think we could accomplish both. Am I missing anything? My parents and I think this can help all parties achieve our general goals. As this is a 500k decision, hoping to get some more opinions! submitted by /u/itslioneltribbey [link] [comments]

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]

I was on a beautiful beach on Thailand not long ago after a stressful year at work. I think it was 2-3 days into a week long holiday before I felt like I needed to go back to work. I just kept thinking about it and how I could get so much better at it. It's mad because I've spent close to the last 10 years working towards FIRE, have close to £200k invested not including home equity and now realise I have my best earning years ahead of me, and my planned retirement age of 50 was probably really silly. I don't know if I'm in the boring middle or if I've realised that FIRE isn't really for me. I'm in my early 30s, and work as a surgeon, so half arsing the job really isn't good for patients or personal satisfaction. Working in the UK will make fat fire nigh impossible, but with the benefit of working a 4-5 day week and having 8 weeks paid leave every year. Also an annuity type pension in retirement which is more than enough to thrive on without saving. I am completely hardwired to save a minimum of £20k a year tax free (ISA) which is about 25% of my take home pay, but am really questioning the point of it when my current invested amount will be more than enough already left untouched. I have a partner, she has about the same amount, not including her familial land in Europe. The idea of saving lots, saving early and saving efficiently really interest me, that's why I'm here with you guys, but I'm not sure what the end goal is or if I'm holding back unnecessarily - have you guys been here? What do? I see my older brother with a networth of triple mine pulling 80hr weeks trying to become FAT and he seems pretty happy, he's also in healthcare, albeit in a fair-paying country. What gives? submitted by /u/throwawaynewc [link] [comments]

Note: all numbers below are using an inflation adjusted 7% annual return. Before you comment the obvious answer is to take the tax free money and max the 401k, let me lay out the only reason I’m considering otherwise. I like in a VHCOL city and I really love it here. If it’s possible, I would love to buy an apartment here and stay for the long haul. I’m early in my career but jobs in my industry should be based out of my region for the foreseeable future so I think staying here long term is doable. The problem lies in building up a down payment. I’m currently 25, about the turn 26. I’ve been maxing my 401k so far this year, maxed my Roth for the year, and have some cash going through an ESPP for an instant 11% return. The problem is at my current cash savings rate + the ESPP money I’ll only have about $85k in brokerage accounts by the time I’m 32, meanwhile my retirement accounts should be above $300k in that same time period. Of course I could come into a large bonus or get a new job with some big stock payout but I’m not the type to bank on something that isn’t guaranteed. $85k is not even close to 20% of a down payment on an apartment around here so I’m worried that I won’t have enough liquid cash to buy a property but I’ll have more than enough in my retirement accounts. By my math, assuming home prices stop skyrocketing and track with inflation (which is a bad assumption to begin with, I know) I will only get a 20% down payment by the time I’m 2/3 the way to my FIRE number… I’m not the type to think you need to own property to make it, I think investing in the market instead of real estate is probably safer overall, but I do like the idea of owning MY apartment. Maybe this in itself is flawed and I should keep renting until it makes more sense to do otherwise, maybe retiring at 40 and having enough money to pay a rent/mortgage through a Roth conversion ladder isn’t a bad way to FIRE. I’m not sure. Any advice on this type of situation is appreciated. submitted by /u/TheChadmania [link] [comments]

I’m in quite a different situation and wanted to see if I could get some input from you all. I’ve been lurking this sub since I was a 20 something in my first job and now 10 years later I feel so fortunate that I’ve put myself and my family in a good situation given that I was diagnosed with a stage IV cancer with not the greatest prognosis late last year. Long story short I’m doing “ok” now.. no evidence of disease but with stage 4 you never know when it’s going to come back. And still dealing with side effects of treatment and drugs that I’m currently on. Anyway for the stats and financials: I’m in my early 30s with a 2 year old and a partner. Salary - recently moved to part time making 100k gross. Full time position was at 145k Partner - contributes about $1100/mo to household/shared bills which I pay. The rest of their income is theirs for car and personal. Assets: HYSA - $24k Rollover IRA - $150k 401k - $2k House ~ $420k Investment property equity ~ $31k Debts: Mortgage - $167k Student loans (cancer deferment so probably never paying these back?) - $17k Monthly spend - $5700 I think I would like to work until the end of the year OR when my insurance resets early 2025 for the following reasons: I went to part time to focus on my mental and physical health BUT I still stress about work. I work in a field where people can’t really just take over for me for the day. If stop work I would qualify for the SSDI compassionate allowance list which would get me $4800 for myself and my child per the social security website. It would only go up if I have more income in 2024. Id like to spend more time with my family and doing things for me while I’m around! That’s the whole reason for FIRE right? I never want to be one of those people who work until the day I died, that’s my nightmare. I believe you can withdraw from retirement accounts penalty free if you are on SSDI. Here’s the challenges as I see them: 1. I could be here 5 more years or 10 or die tomorrow. So it’s hard to use any SWR in my situation. 2. Health insurance. You cannot get Medicare until 24 months of qualifying for SSDI. So that’ll be another big added expense I haven’t factored it. My current monthly spend does include my OOP max for my current insurance plan. 3. I want to leave my family in a good position financially. They shouldn’t have to worry about a place to live on top of losing me when the time comes. So anyway, I guess I’m asking for advice. What am I missing? What would you do in my situation? submitted by /u/PartyUmpire2368 [link] [comments]

Long-time member, but using my throwaway account. I retired back in May of 2021 as a software engineer at a large tech company. My NW was about 1.3m through a combination of ridiculous tech salaries, getting lucky with a few investments, and general frugality and simple tastes. Almost three years later, I'm still trying to figure out exactly what I'm doing. I've done some traveling, worked on a few personal projects, got in better shape, bought a house, spent a lot of time and money fixing things with the house, researched stocks, went to shows / music festivals, read a bunch of books, hiked, visited a few national parks, watched a good deal of TV / Movies, volunteered, hung out with family and friends a lot, etc. but there are a lot of hours in the day, and I often still find myself unsure of what I "should" be doing, especially during the work week when most other people are busy. I realized that teaching people about FI and helping them achieve their financial goals is one of the things I'm always interested in doing. I created a simplified version of the spreadsheet I use to track my own FI journey to share with family and friends who are interested. Feel free to make a copy and input your own info, and please let me know if you find any issues. Some of the calculations are simplified a bit (the tax code is crazy), but generally they try to err on the side of producing more conservative estimates if they are. It doesn't have every possible scenario covered, but should hopefully at least provide a general indication of your FI progress. I can answer questions people have about my path to FIRE if that'd be interesting to anyone, but I totally get that "get paid stupid amounts of money and save most of it" isn't very useful advice for most people. Also happy to talk more "nuts and bolts" of my situation (e.g. i don't really stick to a budget, so just using the 4% rule isn't quite as easy as I thought it would be pre FIRE) or I could talk more about the qualitative side of things if people are interested. I'm also interested in finding people who would be interested in discussing shared interests, as most of my friends aren't as interested in FI/RE or some of my other nerdier interests like autonomous vehicles, AI, semiconductor fabrication, renewable energy, electric vehicles, robotics, science & technology, etc. Anyway, hopefully at least the spreadsheet is useful to some people, and please let me know of any ways you think it could be improved. submitted by /u/ThrowingMyWayAway [link] [comments]

Does anyone recall one event/moment/reason that caused you to seek out Financial Independence that you would like to share? Mine was not being smart and thus afraid of being fired. Through middle school, high school, 4 years of college I would honestly say my GPA was a solid 2.2. I studies for a C, prayed for a B. An A? --- Gotta be kidding. This was hard for me especially since several older siblings were straight A's, Valedictorian, Class President, college graduates, etc. I exaggerated my resume/GPA and interviewed on campus with EVERY/ANY company willing to interview me. My focus was System Analyst jobs. Well, I got ONE SINGLE job offer out of all those interviews with a company 3 hours away in a different state. I didn't research these companies much, and really didn't know much about this company, but I obviously accept the job....again my only job offer. So May year 2000, First day at orientation I selected 15% maximum (at the time this was the max for the company) for my 401k contribution.....I could tap this money and pay penalties and survive if I was let go. Turns out this was a huge well known Corporation and they hired me for their Software Engineering group. Before starting the job, mentally I was fearing being let go for performance reasons and having to pay back relocation expenses -- this was always on my mind. I managed to save $1,000 per month after all bills with a very frugal life. NGL, I struggled my first 2 years at this job and asked for a position more suitable for my abilities. They moved me to a much easier position. 9/11 in 2001 happened.....this event really affected me...my employer was in Aerospace....30% reduction in force announced. 2005, more than half of this site was sold to an outside company. Could we survive as a smaller site? 2008 Great Recession happened....again, travel demand went down. The site was getting less work, and people were let go for several years during this timeframe... people I knew and worked with. 2011 announcement that the entire site was being shut down and moved to another state as a way to lower cost. Not many local jobs for my skillset, so I packed up my family and followed the company to the new state. I actually lasted 19 years with this company. Even with the help of some really nice and smart coworkers, I was constantly fearing because of my abilities, I'd be let go. Back to my savings, 15% became 20%, which became 30% whenever the company increased the 401k maximum percentage. BTW, I got married early at age 26 had kids house, etc.....wife had a good career and we saved the entire time for doom and gloom during all those bumps. Saving was on auto pilot this entire time. So Financial Independence came to me right after college....I consider my entire career revolved around Imposter Syndrome feelings....working under fear and a very low self esteem. The next paycheck wasn't guaranteed. Sorry for the long story.... submitted by /u/Formal-Blueberry-203 [link] [comments]

I’m (26M) getting married this Fall to a wonderful woman (23F) who is very aligned with me in terms of spending habits, paying down debt, etc. She was pretty uncertain about making money decisions beyond socking it away in a savings account, so I’ve been able to convince her to do some simple things like open a HYSA and contribute more aggressively with her retirement while she’s in her 20s. She’s a public school teacher which will limit her earning potential (pay the teachers, btw), but she does have decent retirement benefits through our State’s teacher retirement system. She plans to put in 30-35 years. For some context, we live in a LCOL area. I’ve gotten serious about in the past couple years about FIRE, encouraged by the growth I’ve seen in my investment portfolio and savings. I had a corporate job that gave me a great financial foundation and now work a non-profit job I truly enjoy and am well compensated for (~$92K/year) given the nature of the work. Fiancé wasn’t really familiar with FIRE, but as I mentioned essentially lives the lifestyle already — and she is fully on board with chasing down an early retirement. Right now, we live together and split almost everything 50/50. We plan to combine finances once we get married and will have a HH income of about $130K. We will both head into marriage 100% debt free. Question #1: What are the best FIRE moves we can make once married? Some things I already plan on doing: Open a Roth IRA for her and max out each year (I already do this for my Roth) Bump up each of our retirement contributions by 3-5% Some kind of life insurance policy Some rough numbers for once we’re married: HH Income — $130K Annual spending — $40K Annual saving/investments — $45K Total NW once combined — $220K, with about $140K of that being in investment accounts (401K, Roth IRA, IRA, Taxable Brokerage, HSA, 529) Based on some basic calculators I’ve used, I believe a good FIRE number for us would be in the neighborhood of $3.5M, which appears to be achievable by the time we reach our late 40s/early 50s based on existing conditions. I’d say it’s likely that we’ll have at least one child, which obviously would knock the ages back several years. Question #2: Do you agree that we’re on track for FIRE based on this information? What adjustments would you make? Thanks, I’ll hang up and listen. submitted by /u/con-tin-uum [link] [comments]