Financial Independence and Legit Side Money Ideas For Techies and Geeks

Legit Side Money Ideas for Techies and Geeks

Financial Independence and Legit Side Money Ideas For Techies and Geeks

Programmers, developers, software engineers, and other tech-savvy geeks are often some of the most financially independent people out there. That’s because they often have the skills to turn their side hustles into legit businesses that can generate significant income. In fact, many of the most successful tech entrepreneurs got their start by developing apps and selling them on popular app stores.

Financial Independence and Legit Side Money Ideas For Techies and Geeks

But you don’t need to be a whiz kid to make good money from your technical skills. Even if you’re not interested in starting your own company, there are plenty of opportunities to freelance or consult on projects that can pay well. And with the global economy increasingly reliant on technology, those skills are in high demand. So if you’re looking to boost your income, consider using your geeky talents to earn some extra cash. Who knows, you might just find yourself becoming a millionaire in the process.

This blog is about Clever Questions, Answers, Posts, discussions, links about:

If you’re a programmer, developer, software engineer, geek, or computer scientist, then you know that financial independence is important. After all, who wants to be tied down to a job they hate just because they need the money? The good news is that there are plenty of legitimate side money ideas out there for techies and geeks. Here are just a few:

  1. Programmers can make money by developing new apps and selling them on app stores like Apple’s App Store or Google Play.
  2. Developers can create websites or online courses teaching others how to code or use specific software programs.
  3. Software engineers can offer consulting services to companies who need help designing or improving their systems.
  4. Geeks can start a blog about their favorite topic (technology, science fiction, gaming, etc.) and make money through advertising or affiliate sales.
  5. Computer scientists can develop new algorithms or sell their existing ones to companies willing to pay for them.

So if you’re looking for ways to make some extra cash on the side, don’t despair – there are plenty of options out there for you. Do some research and see which one might be the best fit for your skills and interests. With a little effort, you could be well on your way to financial independence in no time!

Making money isn’t that big of a deal especially if a person is determined, The primary cause of poverty is ignorance and nothing else.

It stars with a burning desire to learn and your willingness to practice all you’ve learned and make the mistakes needed in other to get the a greater height, “that is how financial progression is achieved and sustained.”

in the aspect of making money online with a laptop, you can try out the following listed below….

  1. Affiliate Marketing.
  2. Selling on Amazon, eBay, Etsy, and Craigslist.
  3. Blogging.
  4. Niche E-commerce.
  5. Your Own YouTube Channel.
  6. Selling E-books.
  7. Develop Apps.
  8. Invest/trade cryptocurrency.

To be a master and be really successful in any of the listed, one has to first learn them before anything else goes.

And if you’re interested in cryptocurrency but too Busy and don’t have to time to learn, you can contact me I’ll teach you how a newbie trader can make profit in crypto quickly.

Legit Side Money Ideas on Quora

  • If you had $7k spare that you’d like to invest it in, where would you put it: Traditional IRA or Roth IRA or a regular investment account?
    by /u/mjatin2007 (Financial Independence / Retire Early) on July 18, 2024 at 11:38 pm

    Pretty much the title submitted by /u/mjatin2007 [link] [comments]

  • I can’t believe it was so easy to make money with this app — $3 Bonus!
    by Make Money (Passive Income on Medium) on July 18, 2024 at 8:18 pm

    Have you ever dreamed of earning extra money without leaving your home? Imagine turning the time you spend online into a source of income…Continue reading on Medium »

  • Fuel Mining — let’s mine oil tokens for free
    by Roman News EN (Passive Income on Medium) on July 18, 2024 at 8:11 pm

    Fuel Mining is a slipper here fully automatic earnings. We launch the application and the oil tower is ready to pump oil for usContinue reading on Medium »

  • Top 10 Crypto Investment Tips for 2024
    by Unicorn Quest (Passive Income on Medium) on July 18, 2024 at 8:02 pm

    As we move past the 2024 Bitcoin halving, the cryptocurrency landscape is set for new dynamics. Historically, halvings have reduced the…Continue reading on Medium »

  • Copy-trading memecoins on solana
    by Mark (Passive Income on Medium) on July 18, 2024 at 7:58 pm

    Maybe you’ve gotten tired of analyzing every trending crypto coin day by day and not making much profit.Continue reading on Medium »

  • Ready to have mental breakdown at 2.3 million invested — looking for both financial advice and perspective.
    by /u/Practical_Amount_550 (Financial Independence / Retire Early) on July 18, 2024 at 7:46 pm

    Male, early 40’s, married (early 30’sF); one two-year-old baby girl and another little girl on the way. Around 2.3m invested in index funds. Around 1.6 is available now, the rest in Roth/SEP. Have approximately 2 years of living expenses as cash. Salary the last couple of years has been approximately $300k at the expense of my sanity. I’ve posted on Reddit in the past and it’s the same old story: I’m having a mental breakdown, I can’t do it anymore; then I pick myself up and I keep doing it. I’m a small business owner and I own a small gym in a LCOL mid-west area. I exclusively do personal training and the majority of the business is me. I have had several near mental breakdowns over the past ten years for a couple of reasons: Owning your own business is scary and hard. I am always afraid it’s going to fold. I was always so scared of this that it drove me to aggressively save for the day that it does. I am resentful of my wife. We weren’t together when I started the business but after we got married, she wanted to quit her job and work with me. After she started working with me, she abandoned me. She would come in to work as she pleased and she did not hold up her end of the bargain. So, we essentially went down to one pay check while I worked my ass off 50+ hours and she enjoyed “early retirement”. I tried my hardest to express this to her at the time. For about a year, she started contributing at work but since our daughter was born and another is on the way, she hasn’t been back. This has weighed heavily on me because it was all on me for so long; I felt alone and scared. Since then my wife has apologized; she told me that when we got married she thought that I would just “take care of her” because that’s how she grew up. She expressed that she was young (she’s 7 years younger), immature, and she didn’t understand what a marriage was and how to contribute. Since our daughter has been born, my wife has transformed into an amazing mother but I still harbor a grudge. To be fair, the one year she did contribute at work, we absolutely crushed it and I’ve been striving to maintain that by myself. I enjoy earning a lot of money. I come from a scarcity mindset. I don’t flaunt money or purchase extravagant things. We live well below our means. Money is security to me. The more I earn, the more I can save; the more I save, the more secure I can feel. This year has not been a great year at work. We are on track to make less than last year (maybe $225-250k). This stresses me out tremendously. I always strive to make more each year. The reality is, I do not have the energy and motivation to go above and beyond and do the things I need to do to attract new clients right now. I’m passionate about what I do for a living and I truly enjoy the actual work. Getting new clientele and beating last year’s numbers are the hardest parts. Plus, I have much too large of a clientele for one person to handle. My OCD tendencies allowed me to build it this big but it’s too big to manage for one person and I know that. However, whenever I have an almost mental breakdown, I’m always able to snap out of it and build it bigger. I’ve tried hiring people and it just doesn’t ever work out. I dread going into work and seeing it being less successful than the previous year. It eats away at me every day. My only escape is spending time with my daughter, but even then, I’m not fully present. I could be spending time with her now but I’m on Reddit. I feel so alone because I am so resentful toward my wife that even though she has transformed into a great mother now, I just think of all the years of struggle I went through alone. I love my work schedule right now. I work about 30hours per week although I work 24/7 in my head. But 30 hours for $300k that took over a decade to build, I feel very grateful and I don’t want to lose it. I was hoping to FIRE by 50. Realistically, with 2 kids, $100k after taxes would make me comfortable. Being able to retire with 4+ million would make me feel more safe though. So I have to get through 8 years but I’m finally having the real mental breakdown NOW. I’m having physical symptoms now. I can barely get out of bed and I can barely get through the day. I’m shaking constantly and I can’t take it anymore. My wife and I are in therapy together but it doesn’t feel helpful to me. Can anyone relate to this situation or provide some perspective? I wish I could just let go and not care about work; just let work dwindle down and make living expenses but something within me can’t stop caring. Any advice is greatly appreciated. ps. I realize my thoughts are scattered; I’m not feeling my best. submitted by /u/Practical_Amount_550 [link] [comments]

  • How Many Published Coloring Books Does it To Earn $1,200 per month on Amazon KDP?
    by James P Monahan (Passive Income on Medium) on July 18, 2024 at 7:31 pm

    I have researched ALOT of side hustles and, perhaps like you, have considered publising low content books on Amazon.Continue reading on Medium »

  • Unlocking the Secrets to Successful Blog Monetization
    by Fidanovski Martin (Passive Income on Medium) on July 18, 2024 at 7:25 pm

    Revealed Secrets to Monetizing Your Blog: Turn Your Passion Into Profit Today!Continue reading on Medium »

  • Earn Passive Income with Fiverr Affiliates: A Step-by-Step Guide
    by The Expert Insider (Passive Income on Medium) on July 18, 2024 at 7:17 pm

    Are you looking to make extra income online? Discover how you can earn money by referring your favorite services with the Fiverr…Continue reading on Medium »

  • Mastering Passive Income with ChatGPT and Udemy
    by Mohammed Saiful Alam Siddiquee (Passive Income on Medium) on July 18, 2024 at 7:04 pm

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  • Mastering the Art of Effortless Income: Lazy Ways to Earn Money Online
    by Mohammed Saiful Alam Siddiquee (Passive Income on Medium) on July 18, 2024 at 7:04 pm

    Say Goodbye to Hard Work — Explore Innovative Lazy Money-Making StrategiesContinue reading on Medium »

  • Next-Gen Wealth: Millennials Rewrite the Money-Making Rulebook
    by Leafson (Money Making Ideas on Medium) on July 18, 2024 at 6:39 pm

    Move over, traditional finance. Millennials are shaking things up with innovative approaches to building wealth. Forget the slow climb of…Continue reading on Medium »

  • Shake Your Money Maker: How To Become An Erotic Voice Actress
    by Gabrielle St. James (Money Making Ideas on Medium) on July 18, 2024 at 6:32 pm

    Have people told you that you have a nice voice? You can make up to $10k a month sharing your voice with the world. Read to find out how!Continue reading on Medium »

  • How I Made My First Dollar Online
    by Andrea (Passive Income on Medium) on July 18, 2024 at 6:22 pm

    And I’m Still GoingContinue reading on Medium »

  • How I Create Passive Income With No Money
    by Finsurance (Money Making Ideas on Medium) on July 18, 2024 at 4:34 pm

    For more money-related talks visit Finsurnace ( click here )Continue reading on Medium »

  • 4 Steps to Transform Google into Your Ultimate Template and Automation System
    by Sean Newborn (Money Making Ideas on Medium) on July 18, 2024 at 4:34 pm

    𝐓𝐡𝐞 𝕏 𝐠𝐮𝐫𝐮𝐬 𝐚𝐫𝐞 𝐥𝐲𝐢𝐧𝐠 𝐭𝐨 𝐲𝐨𝐮.Continue reading on Medium »

  • The reality of content writing
    by Warda (Money Making Ideas on Medium) on July 18, 2024 at 3:57 pm

    source of easy moneyContinue reading on Medium »

  • 6 Sites to Start Blogging/Writing Free in 2024
    by Mahnoor Chaudhry (Money Making Ideas on Medium) on July 18, 2024 at 1:57 pm

    Writing is what you love doing (I know), so why not consider monetizing writing through blogging? There is nothing better than getting…Continue reading on SYNERGY »

  • Daily FI discussion thread - Thursday, July 18, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 18, 2024 at 9:03 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]

  • From 0 to 1000$ per week : Jimmy’s Journey
    by Ben ammar saif (Money Making Ideas on Medium) on July 18, 2024 at 8:32 am

    Jimmy sat in his small apartment, staring at the few dollars he had managed to save. Without a job, every penny counted, and he was…Continue reading on Medium »

  • How to Save Money on Animation
    by Subhadeep Mahapatra (Money Making Ideas on Medium) on July 18, 2024 at 8:16 am

    Animation is a vibrant and dynamic field that brings stories and concepts to life in ways that captivate audiences. However, creating…Continue reading on Medium »

  • The Ultimate Guide that Helped Me Build Sustainable Passive Income Streams
    by amitaf.finance (Money Making Ideas on Medium) on July 18, 2024 at 7:22 am

    The entice of passive income is undeniable. Imagine a steady stream of cash flowing in, month after month, with minimal effort on your…Continue reading on Medium »

  • Involuntarily FIRED, what next?
    by /u/anonymous_1983 (Financial Independence / Retire Early) on July 18, 2024 at 3:03 am

    Ever since last year, when my Big Tech employer started laying off people, I've been considering FIREing. The work environment had become much more stressful and political, and I dreaded coming into work every day. What gave me second thoughts about quitting was that I had a golden handcuff of about $500k worth of unvested RSUs. Today, I was given 60 days notice that I'm being laid off. They are giving me a generous severance package of about 28 weeks' worth of pay. I've been working towards FIRE for the past 8 years, and have a net worth of about $5.5M, including: $1.4M paid-off house in a HCOL area $120K in cash and CDs $47K in HSA $1M in pre-tax 401(k) $450K in Roth IRA $2.3M in taxable investments (mostly in VTI, and including $500K of vested RSUs). I'm single, in my early 40s. I estimate that my expenses are about $100K/year so I think I should already have enough to FIRE. Here are what I'm planning to do for the next couple of months: Travel (~3K) Renovate my kitchen - I've been putting it off for a while and didn't have time to do it (~40K) Buy health insurance ($??) - my income this year will not qualify me for subsized insurance but I should be able to qualify next year For next year, my plan is to: Slowly convert my pre-tax retirement account to Roth Increase my bond allocation Sell some of my appreciated stocks to convert to spending money and to take advantage of the low LTCG rates. I probably should sell my RSUs and buy VTI. Anything else I should be doing? Thanks submitted by /u/anonymous_1983 [link] [comments]

  • Is Commissionable: The Full Blueprint to Making Money Online Real or Fake?
    by Anaghasanil (Money Making Ideas on Medium) on July 17, 2024 at 6:42 pm

    In the age of digital entrepreneurship, countless resources promise to unlock the secrets to making money online. Among these…Continue reading on Medium »

  • Bond tent vs 3 years of expenses in "cash cushion" in retirement
    by /u/mh330 (Financial Independence / Retire Early) on July 17, 2024 at 5:33 pm

    Relatively new to the idea of the bond tent so i may be misunderstanding its nuance, but Kitces 10 year ramp up and 15 year draw down sound crazy long to me. How can the danger zone be 25% of a lifetime? I had always planned on keeping a "cash cushion" (CDs, bonds, cash, pick a flavor) of X number of years of withdrawals to ride out market corrections. From what i can see, most corrections including 2008 saw the market return to previous levels within 3 years, so my plan would be to hold 3 years of "cash". If the market is doing well, i'd take 4% from stocks. If the market crashed, i'd pull from the cash cushion instead, which would be replenished from stocks once the market recovered. But holding an extra 30% bond allocation in your portfolio (up to 70% bonds as Kitces outlines) just in case sounds over the top conservative to me. My idea of holding 3 years in cash is more like a 10% swing into bonds, not 30%. What are the holes in my strategy that i'm not seeing? Or am i simply wrong that most corrections recover in a 3 year timeframe? submitted by /u/mh330 [link] [comments]

  • Unexpectedly Inherited 3.1m
    by /u/Capital_Leader_1726 (Financial Independence / Retire Early) on July 17, 2024 at 5:05 pm

    In March, I discovered that I've inherited $3.1 million through a trust from a distant relative. This money is currently invested in index funds, managed by a financial advisor who charges a 0.5% fee. We are allowed a maximum annual distribution of $15,000 until we turn 50, except in cases of emergency. We've decided not to tell anyone about this inheritance for obvious reasons and prefer to let it grow untouched. My husband has been talking about the FIRE movement's 4% rule since our first date, but our focus has been on paying off student and business loans. We paid off student loans last December and business loans in June. Our financial advisor, estate attorney, and CPA are all thoroughly vetted and reputable. We are both 36 years old and financially conservative, with a 3-year-old daughter. For the past two years, we've maxed out our HSA and 401ks, but before that, we didn't invest much due to loans. I work from home in a commission-based job, averaging $60,000 pretax since 2020, with a prior average of $44,000. My husband started a business in 2021 and has averaged 110,000 2021-2023. 2024 is on pace for $180,000 and $200,000, along with an additional $50,000 to $100,000 in distributions. We expect for both salaries to plateau. Before 2021, his earnings ranged from $40,000 to $60,000. We have no business loans, car loans, or student debt, having paid off everything in the past five years. Our remaining debt consists of $383,000 in mortgages, detailed below: A rental property with $66,000 left on the mortgage at a 4% rate, purchased for $163,000 and currently valued at $325,000. The tenant is a family friend escaping an abusive relationship, paying $1,300 per month (market value is $2,800). The rental breaks even after insurance and taxes. In 18 months, we'll raise the rent to market value. This gives the tennant two years to get on her feet. Our primary residence has an outstanding mortgage of $230,000 at a 4.5% rate, valued at $725,000. We have no plans to move or undertake major renovations. We also have $120,000 in a high-yield savings account, $30,000 in a brokerage account, and $100,000 combined in our 401ks. Additionally, we own two 10-year-old Hondas that are have no issues. We both enjoy our jobs. I've discussed with my husband the possibility of retiring at 40 or 45, but I'm unsure how to plan for 5-10 years of retirement with a child. Any advice or insights would be greatly appreciated! EDIT: We will likely spend $85,000 in 2024 and potentially 100,000 if we go on a vacation we've talked about. submitted by /u/Capital_Leader_1726 [link] [comments]

  • Way to many haters. This is for those who ACTUALLY want encouragement and not for those who want a pity party
    by /u/SPXJUICYPUMPZ (Financial Independence / Retire Early) on July 17, 2024 at 3:07 pm

    Here's something I'm trying to understand about this forum. The forum is called financial independence and it's goals are trying to find ways to become financially free, encourage others, help people along their journey, and seek encouragement from people who are successfully achieving short-term and long-term goals. Why is it than anyone who is successfully navigating the financial space and finding clever ways to save, invest and achieve freedom are being downvoted. It's like you all want to be free and save and invest but don't believe in the power of compounding or just straight-up saving and living below your means. People post looking for tips and tricks and encouragement. I will offer tips that have worked for me, also show people exactly what 8 years of consistency can do for a portfolio and I get downvoted, told not to be fake, told not to lie, told that my life must "fuckign suck." If you don't think that you can expect any market returns on a portfolio you're consistently dollar cost averaging into week after week, month after month, year after year, then why are you investing? Honest question. Because it seems like a lot of you are shitting on people's hard work and discrediting things that are actually achievable if you stay consistent. My own financial picture has changed dramatically over the past 10 years and I am proof it can be done. I am married, have 4 children, own a home, have no debt except for a mortgage balance of $149,000. When we first started looking for houses the bank approved us for ~$400,000 dollars but we knew we didn't want to be a slave to debt for 30 years and have huge chunks of our paychecks eaten up by a mortgage so we bought a small house well below our means for $205,000. This was a year before COVID fucked the market, so there is some luck in that. That said if we look hard enough everyone has some degree of luck in their lives at some point that if recognized can change the course of their life substantially. People inherit sums of money or properties, people have connections that shoe them in the door for higher paying jobs, people have higher degrees of inate intelligence and athletic abilities, people win money, people have their college education covered by grandparents, parents or financial aide, people inherit vehicles, people invest at the bottom of a market cycle and see growth for years. Luck happens. It doesn't negate work. Before we bought our house we knew we didn't want to have debt so we moved into a cheap RV and paid 300 dollars to live in it a month. During the course of a couple years we paid off alll our debt, and saved a 20% down payment and $10,000 dollar emergency fund. We found a house at a steal, pulled the trigger, moved in, accepted it needed lots of work that we would slowly cash flow over the years and got married at our home with 185 friend and family in attendance. Our wedding was backyard and BBQ style and cost a total of 5k. We went into our marriage debt free. We immediately started having kids. Our household income through all.of this has been between 68k-90k we consistently lived off of ~$30,000 dollars a year and invested the difference. Maxing out 2 Roth IRAs, an HSA, Putting $1320 a year into each of our children's 529s to at least help them with college, everything else went to our brokerage and maintaining our Efund. 2-3 percent of our investments went to speculative stuff namely BTC and a bit of ETH. 8 years later we are both 33 years old, wenare still debt free except our mortgage. yesterday we hit $401,500 saved and invested. With home equity we have a networth pushing $700,000. This is a breakdown of how it looks today with the market being a bit down from yesterday: •Roth #1: $50,742.15 •Roth #2: $39,009.59 •Trad: $10,942.19 •Health Savings Account: $48,466.53 •Brokerage#1: $120,424.18 •Brokerage #2: $66,116.06 •529 #1: $7996.33 •529 #2: $5999.92 •529 #3: $3589.98 •529 #4: $1709.82 •Bitcoin: $20,674.96 •Ethereum: $3463.67 •Cash Savings: $20,070.83 •Other: $2362.17 Total: $401,677.51 All of this achieved over 8 years of consistently investing. Living off of ~$30,000 and dollar cost averaging the difference. Our investments are essentially 60/40 split between VTI and VXUS in all our accounts. This post ist to prove to those who want to know if it's possible to save on not a high income and to give people the faith that eventually compounding helps you reach your goals faster...i.t just takes some time and commitment. If you need tips or tricks let me know. And to all you haters who are constantly down voting success stories and commenting negative shit, enjoy your lonely life. Stop making people who are trying to succeed at something feel like shit and that they may as well give up. Sorry you spent to much money on Pokemon cards and they never appreciated as much as you wanted. submitted by /u/SPXJUICYPUMPZ [link] [comments]

  • Weekly Self-Promotion Thread - Wednesday, July 17, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 17, 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, July 17, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 17, 2024 at 9:03 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]

  • Definitely NOT FI - or Young, or working -
    by /u/galfridaygal (Financial Independence / Retire Early) on July 17, 2024 at 4:26 am

    New here, would appreciate thoughts: 60 year old single no kids Completely started over from scratch financially 22 years ago at 37 with no assets, no debt and starting a new consulting business. Worked for roughly 18 years as a 1099/consultant. Lost my consulting gig three years ago - very few paid gigs in three years since. My gross in 2002 was around $25k; grew steadily year by year to roughly 400k gross as of 2021. I obviously had a solid tax burden on the 1099 earnings so this would not be equivalent to the same earnings on a W-2 nor did I receive any benefits. I had some significant perks that offset expenses such as phone, Internet, cable, subscriptions, travel but I also carried more in taxes plus all health insurance. Fast-forward here's my situation now: Assets: $1.8M IRA which was self funded from 2008ish through 2022 $300,000 - cash, funds and IRAs (drawing down on this to cover expenses monthly) Equity in home $450k to $600k and for now climbing daily in my market Investment condo purchased with cash for $250k in 2017; current value $425k. Rental income of $3200 per month;after HOA fees etc. cashflowing max $25k annually. Had some massive assessments that threw a loss on this in two or three years since I've had it. Debt: $20k at half a point on automobile Mortgage on primary residence - $402k principle (see above appraised value is currently 900 to $1m) My Social Security if I earned nothing else would be roughly 3150 a month if I start taking at 67. So - do I even belong here in this group? I don't want to work anymore, but I know I have to and am pursuing that. At this stage, I would feel incredibly fortunate to retire at 65 which would mean getting income flowing between now and then. My current home is a big downgrade from what I had previously but I'm comfortable here. However it's a little too isolating and property upkeep is $$ so I do anticipate selling within a year or so; I have wanted to focus on reigniting my career first. While absolutely not where I thought I would end up, my condo would be a place I could live if I needed to. I will be on my own, taking care of myself as I age further and do have some health issues. I am currently burning through approximately 125,000 a year. Do I have a snowballs chance in hell? submitted by /u/galfridaygal [link] [comments]

  • Early Retirement Execution
    by /u/heylookltsme (Financial Independence / Retire Early) on July 16, 2024 at 9:55 pm

    Hello friends! I'm looking for resources (books, websites, podcasts, etc) that focus on the execution of early retirement. Searching for early retirement resources yields nothing but content on the journey to financial independence, but very luckily for me, I have been there and done that. I'm interested in the other side of that journey - the details of withdrawal strategies, taxes, etc etc. I know it can be quite complicated, so I may well end up partnering with a financial advisor to construct and execute a plan, but I'd like to start getting informed on my own at the very least before going down that road. A little about my situation in case it's helpful: my wife and I are both 40. We're currently expecting our second child in November. She's a social worker who works for our state and has incredible health insurance. I'm a software engineer. We have $1.3 million across our retirement accounts and $500k in a taxable brokerage. We live in a low cost of living area and own our house and two cars outright. Our annual spending is about $80k. My wife grosses $72k. I gross $235k plus a target 20% bonus, plus some shitty company equity. I'm going out on parental leave from November to March and I'm strongly considering not going back and being a stay at home mom for a spell. My wife's salary alone won't totally make ends meet, so we'd need to figure out something. But I feel like we could totally do it. Any recommendations greatly appreciated, thanks! submitted by /u/heylookltsme [link] [comments]

  • Target date retirement funds
    by /u/One-Squirrel-4563 (Financial Independence / Retire Early) on July 16, 2024 at 1:17 pm

    How do you all feel about target date retirement funds? I have multiple accounts (current retirement accounts and past ones that were never rolled over, as well as HSAs) that are invested in various target date retirement funds. I chose it as a quick easy choice when first setting up the accounts and never got to change it. I’m 30 and my spouse is 31, so we definitely have a long time for retirement. In that case, is it a mistake investing in these funds? Should we try to manage our own investments? I imagine the fees for these funds are higher than other options we could use, but maybe it’s worth the peace of mind? Although maybe with our long investment timeline, we could still choose other index funds and forget about the money for years to come anyway? Would love to hear everybody’s thoughts on these! Thanks! submitted by /u/One-Squirrel-4563 [link] [comments]

  • Daily FI discussion thread - Tuesday, July 16, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 16, 2024 at 9:03 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]

  • FIRE'd at 46 holding average "Joe" job...
    by /u/crazyhiit (Financial Independence / Retire Early) on July 16, 2024 at 4:37 am

    Yes, I'm an average "Joe" in all respects. 46/M currently happily retired abroad since last 1 year Here's my story... Worked uninteresting jobs in tech for 20 years. No FAANG's... no top tech companies. Even though I had a relevant academic CS background, I wasn't good enough to get into any top place. Grudgingly accepted my averageness and worked on normal maintenance projects in boring companies Lived a frugal life - spend less, save more. Did not tour the world... heck, did not even tour the US. I was mostly content with small trips in and around where I lived. Growing up in a lower middle class family, I continued living that way after I found myself a job. Drove the same car (Honda Civic) for 20 years and gave it away to charity after we moved abroad. Started my career in a low salary ($60K) and managed to get like a 2% or 3% increment every once in a while. Changed companies 3 times during that span. My average salary over 2 decades is a glorious $100K pre-tax. Total 4 promotions over 20 years. Married late at the age of 34...two kids followed...now 12/F, 6/M. Spouse stay-at-home Without further ado, here's my net worth picture:- Equity investments - $1.3M Fully paid home - $600K (rented out since FIRE'd abroad) 401K balance - $1.3M (all in broad market ETF) FIRE expenses:- We budgeted a lump sum of $35K per year for living expense abroad This includes schooling for kids, monthly home rent/living expense and some discretionary spending like annual family trips. How do we plan to stay FIRE'd? Rent from US home covers ~$25K Equity investments yields another ~$25K annually - mostly selling covered calls at a 5% yield Plan to keep 401K invested in equity ETF and hope to withdraw them at the age of 60 Plan to draw SS as soon as eligible Please poke holes in our FIRE plan? What am I missing? ---------------------------------------- EDIT --------------------------------------- Lessons for the avg Joe to FIRE. This is not for the FAANG types. Thing LONG TERM. If you want to FIRE on avg jobs paying avg money, time and patience is your first dearest friend. Prepare for 15-20 years. I averaged $100K pre-tax salary annually over 20 years Find a job early and stay employed no matter how unsexy it is. It pays bills. Sock away regularly to 401K. I put away exactly $1000 every month to pre-tax 401K. That's roughly quarter of a million invested over 20 years! Read, re-read, and re-read "The Little Book of Common Sense Investing". Press #4 above For the avg Joe, market is your next dearest friend. There is no one else who will diligently work for you. Invest your 401K in any of the broad market/index ETF. VTSAX, QQQ, VTI, VOO are all your best bets Aim for high savings on your post tax money. 40% is decent. 60% pays your bills, rent and discretionary expenses Invest your savings. Take a few moonshot bets - no more than 10% of your savings, but 90% goes to ETF's. Read #4 above Live below your means. I bought a new car when I could afford one. Common sense says buy a used one, but think long term. I drove my Honda Civic for 20 years with nothing more than regular maintenance Invest in a starter home as soon as you can. Real estate is your third best friend. Real estate has always paid back over the long term. Do not take out a massive loan just because you are qualified ---------------------------------------- 2nd EDIT --------------------------------------- For some of you curious about index investing and wondering how an avg Joe just needs 2 friends in his life... Read EDIT above - time/patience is your first friend and equity market is your next best friend. I wrote a small program to calculate what every $1 invested in QQQ over the years would be worth today. This assumes the money stays invested including dividends. YEAR What your $1 invested in QQQ is worth today? 2004 $15.24 2005 $13.73 2006 $13.46 2007 $12.58 2008 $10.57 2009 $18.23 2010 $11.76 2011 $9.80 2012 $9.51 2013 $8.06 2014 $5.88 2015 $4.94 2016 $4.53 2017 $4.23 2018 $3.18 2019 $3.18 2020 $2.29 2021 $1.54 2022 $1.21 2023 $1.81 2024 $1.22 A modest $10K invested 20 years ago, is worth $152400 today! Stay invested y'all! submitted by /u/crazyhiit [link] [comments]

  • How to reach FIRE?
    by /u/Born2RetireNWin (Financial Independence / Retire Early) on July 15, 2024 at 10:37 pm

    M26 working and living with F20 How can a young couple in their 20’s make FIRE in 4-8 years? Current job: M26: About $60k F20: About 30k Savings: $10k cash Roth IRA: $7000 House: Can take a HELOC for $200k (10%) Debt: $4k credit cards Investments: $3k Since we’re both self employed our yearly ranges from $70-$100k combined. Our expenses are currently: About $1.5k / mo Just from taking a glance at our numbers. How can we make FIRE in the least amount time possible? Our FIRE number would only be about $1,000,000 We plan to increase our income in 2025 by x2. I’m in the process of studying web development which will be a $20-$30k bump. submitted by /u/Born2RetireNWin [link] [comments]

  • Hit 750k Networth [25M]
    by /u/xuhu55 (Financial Independence / Retire Early) on July 15, 2024 at 9:04 pm

    I wanted to follow up on a previous post where I hit 500k net worth when I just turned 25. https://www.reddit.com/r/financialindependence/comments/17r75xf/25m_journey_to_500k_networth/ This year has such a massive stock market growth that I've turned it into 750k with the same aggressive investing behavior. I also am 99.5% in equities which made the growth incredibly fast https://imgur.com/a/5w8eLdb Next goal 1 million by age 28. For those who are curious about my spending https://www.reddit.com/r/HENRYfinance/s/hzp0SyRYeK submitted by /u/xuhu55 [link] [comments]

  • Hit 400k net worth today!
    by /u/darkyacht (Financial Independence / Retire Early) on July 15, 2024 at 7:53 pm

    23 and just crossed 400k net worth today! Hope this post isn't taken as a brag, but I've really got no one in real life to celebrate it with. The only person in my life who knows specifics about my finances is my dad, and we haven't talked about money in while. Financial independence has been a big goal for me from the time I graduated high school, and I've worked really hard these last few years to get here. Every dollar I have today is money I made from working full time. I hope this post serves as inspiration to others to keep going and smash through your goals! Here's the breakdown: Taxable brokerage: $258,243 Traditional 401(k): $83,244 Roth 401(k): $47,744 HSA: $13,451 Debts/Obligations: $0 Total net worth: $402,682 My full time job is $110k/year (base) and a side gig brings in $1-2k/month. I am still living with my parents, but actively looking to move out (MCOL area - I plan to start out in my area but unsure if I'll stay here long term or not). I have lived with them since graduating high school and we've gotten along mostly well, but lately I've been wanting more freedom which is introducing unsustainable friction between us. 95% of my taxable brokerage is in VOO. The other 5% I have chosen to leave in company stock this year (so far it's outperformed VOO by a few percentage points). If the market stays at current levels, I'm projecting $470k net worth end of year. Best plausible case is $500k, and the worst, well... worst case is lower than my current net worth lol. But at least I'll be buying the dips. I made a lot of mistakes in the markets along the way, most of them when I was starting out. I rode the GME wave and lost 10k, which felt like a lot of money at the time. I also had several other failed "get rich quick" attempts, which cost me a few thousands here and there. Even though these were painful experiences, I'm glad I went through them. I wouldn't be the investor I am today without them. One of the bigger mistakes I made was missing out on last year's rally. At one point, I had over $150k parked in VUSXX paying only 5% (I live in a high tax state, so the real return was more like 3%) while the market rallied 15%. I posted about it in this sub at the time, and boy am I glad I did. Most of the advice I got was to get back in the market, so I ended up lump summing the whole $150k, and I haven't looked back. The idea of dropping in such an amount was mortifying to me at the time, but the research said that lump sum comes ahead ahead most of the time, so I just closed my eyes and took the plunge. Since then, I've worked to shift my perspective on risk and overcome my fear of losing money, and I feel like a more mature investor now. At a young age, money's natural habitat is in the market, not sitting in a conservative bond fund. I'm cautiously optimistic for the future, but I realize I've got more work to do to reach my goals. I don't have a set number, but I want to have the freedom to work a part time job if I choose to and not have to stress about money. I've simultaneously also realized that money isn't the end-all-be-all, and my next goal is to decrease the dominating role that money currently plays in my life. That will also take some time and introspection; but - just like investing - it's a marathon, not a sprint. submitted by /u/darkyacht [link] [comments]

  • $5 million NW after 24 long years
    by /u/Sea-Investigator1558 (Financial Independence / Retire Early) on July 15, 2024 at 2:54 pm

    Just broke the $5 million net worth milestone after working 24 long years after college. Currently 47M. Dual income with two kids in college. Felt Financially Independent since 2019. The first $2 million was really hard (took ~18 years). The remaining $3 million was pretty easy and quick (~6 years). The breakdown: $4.0 million in retirement accounts -- mostly Pretax. $600k brokerage $100k HSA $300k home value *Ignoring other material stuff and the kids 529 funds. Our annual income is $240k. Annual living expenses about $35k. Oklahoma is very low cost. Debt free since age 31. My main career before was Software Engineering and wife is a Physician Assistant. Both of us have 4 years of college and was raised pretty poor. Edit: The plan for me is probably work another year or two. 2020 I got 100% remote job making $65k today. Easy job, hands off manager. No meetings. Zero chance of me going in the office ever. I have a pretty sweet Gig if I am being honest --I only really work ~25 hours a week and my manager lives my performance). I would describe myself as: House Husband with two older teenagers and a wife...oh, and a 40 hour a week Job at home. Wife works with Cancer patients and feels a purpose for her career at the moment. My focus for months has been trying to convince wife we can take a "Gap Year" away from work. Son is a Junior in College and daughter an upcoming Freshman in college. (Both studying our same careers for some reason). They both live 30 mins away and come back every weekend. Wife wants to work til daughter is done with college (Me: Sigh...) After quitting I plan doing a 12-24 month road trip across the USA hitting the National Pars -- think glorified Van life in a Minivan with 2-3 nights in hotels to recharge--Yes, CRAZY is what my wife tells me. I hate flying and got my first SEVERE jet lag coming back from Hawaii of this year. We both reached a minimalist lifestyle in our 40s. Even if we DOUBLED our expenses, it really wouldn't bring us that much more joy. We were just as happy and comfortable at $2 million versus $5 million. My initial goal was not to get rich, but avoid taxes every legal possibile way. Oh and 100% of our retirement funds is in S&P500. And since we have such a low living expentit will remain at 100% for awhile. I made A LOT of POOR individual stock investments thus only $600k in the Brokerage account(Stay in S&P500 kids!!!). We took advantage of 401k, 403b, 457, HSA, Roth IRA. So each year since 2013 we were putting $60-$80k into retirement/HSA accounts all into S&P500. $35k a year is just for Basic living expenses. Think food, utilities, home/car insurance. Life is cheap when debt free and no payments/interest. I can buy A LOT of food to cook with a $1,000 a month budget!! submitted by /u/Sea-Investigator1558 [link] [comments]

  • Daily FI discussion thread - Monday, July 15, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 15, 2024 at 9:03 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]

  • Will this hurt us from reaching independence?
    by /u/Standard-Resort-6004 (Financial Independence / Retire Early) on July 15, 2024 at 6:11 am

    My wife(34) and I(35) found a dream home we could build on a lot with a pretty unbelievable view. It's an amazing home and we'd never want more. It would be new construction with Toll Brothers and land around $1.5M. We have 2 kids under 2 and might have 0-2 more. Given that, we are likely 1.5yrs away from it being completed, but the lots are selling quickly in the development so we may need to act quick. Current Financial Scenario: Annual Income: $350k+ (Wife: $130k, Myself: $250k) Monthly Income (after maxing 2 work Roth 401ks, HSA, taxes): $15k-$20k+ Monthly Living Expenses (excluding home costs): $4-5k Current 2018 Home Cost: $2k/month (including mortgage and insurance) we have a 2.99% rate Current Assets: Cash Equivalents: $28k Taxable Investments: $400k Tax-Advantaged Investments: $413k Property Value: $720k (with a $336k mortgage balance) Company ISO stock: maybe nothing, maybe $500k+ :fingers crossed: Two new 2023 cars payed off Debt: No debt other than the mortgage Options Being Considered: Don't Do Anything: Continue with the current financial and living situation. Save a ton and invest. Buy a New Dream Home: Cost of New Home: $9k/month (includes taxes/fees Keep first home and rent for $3k/month (hire a property manager for 10%) Additional Context: Both homes are in growing markets with appreciation potential. Questions: Feels like keeping our 1st home gives a secure safety net to potentially fall back on in a worst case scenario, and keeping it could fuel a large retirement opportunity. That said, we are scared of taking on debt, given how conservative we've always been. Would love any and all advice. Thanks! submitted by /u/Standard-Resort-6004 [link] [comments]

  • Fill the gap to actual Retirement
    by /u/FIprincess (Financial Independence / Retire Early) on July 15, 2024 at 12:52 am

    My husband and I are teachers (43 and 41 respectively) and have savings invested totaling 1.2M. I (we) want the option to retire early. Right now we max out the HSA family, Roth IRAs (14K), employer match with 403b (3K w/match), fund kids' 529 (6K/year), and contribute 12K/year to 457b. These contributions total $42,000/year in savings. Our house has 70K and six or so years left at 2.5%. We have another property at $130,000 with painful 8.5% patiently waiting for interest rates to drop some to unlock that. So here's my question: I'm trying to fill the gap between (soonish) retirement and 59.5). I just realized that we will have PLENTY of money at 59.5 with the Roth IRA, 401K from previous employer, and 403b. Should we start prioritizing funding our 457b(s) since it's the only account we can access (and the HSA) before technical retirement age? For reference we have 800K in Roth, 403b, and 401K. We currently have 263K in our 457b accounts. Also, we both are relatively happy at work so not in a particular rush to retire. But also want the flexibility to pull the plug when necessary. *Edit, we have teacher pensions in Minnesota. They won't be full pensions though. We also have Social Security. submitted by /u/FIprincess [link] [comments]

  • A Decade To FIRE, 0 -> $4M: On mental health, mini retirements, and staying flexible
    by /u/FirstFireThenSlay (Financial Independence / Retire Early) on July 14, 2024 at 9:16 pm

    EDIT: I've ruffled a lot of feathers, so I'm putting a TL;DR at the top. FIRE is about maximizing income and minimizing expenses, and I did both. My income started at $65k 15 years ago and grew very quickly, even topping $1M for one of these years. It was not easy getting to that point, but I did it with a mix of privilege, hard work, and fortune. If you don't want to read another post about high tech incomes, you can stop here! My initial intention for the post was to offer perspective on my mindset about FIRE. The issues of mental health, anxiety, frugality, hedonic treadmills, and mistakes are hopefully relatable and relevant to FI journeys whatever your income level. But it is totally fine to skip! This is not a median-income success story. Hey everyone! Long-time lurker, first-time poster, with a new alt account. I’m writing this reflection partly to celebrate my progress, which has exceeded even my best-case early expectations, and partly to contribute a few grains of perspective back to the community I’ve followed all these years. This is long, so treat it more like an article than a quick scroll. The content I love most in the FIRE community is content that shares the inner workings of someone’s mindset as they gradually seize greater control over their life and their happiness. I like to see if I can find myself in your stories and cheer for you. This is my version. 10 years ago I had a net worth of 0, with grad school debt offset by early 401k holdings. Today, I’m a 37-year-old single man who just reached $4M net worth last week. Getting here wasn’t easy, but neither was it particularly tricky. I landed and managed to sustain a high-paying tech career in data science. Although neither of my degrees was related to data science, I had enough analytical intuition and passion to self-teach and find my voice in the field. When I think of how far I've come, I'm filled with an awkward mix of pride, disbelief, gratitude, and relief. Through much of this journey I've felt like I am clinging to the pole of a merry-go-round that is spinning entirely too quickly, fighting centrifugal forces to stay in the air. Family support helped to get me started. My parents weren’t rich but they both had good heads and modeled prudent financial behavior. Whatever talents I was born with were encouraged and invested in. My undergraduate education was paid for 60% by need-based grants and 40% by my parents, with meager support from my own summer jobs. So I graduated debt-free. Persistence helped at a critical inflection point. I was initially rejected by the company that would eventually pay me all this money, but I followed up a couple months after that rejection and tried again. I don’t even think they were wrong to reject me since I lacked some key skills. But someone took a bet on my potential the second time, and I repaid it by working very hard to prove they were right to do so. Income & Expenses The ensuing run-up in compensation blew my mind. My first job out of college had paid $65k, a number that was already so large as to fill my tiny 22 year old brain with relief and gratitude. I wouldn’t become a starving artist who made ends meet by SAT tutoring and go-go dancing! After grad school I earned $110k-$140k for a bit, but the leap into my current company more than doubled my annual income to $300k. From there, it more than tripled over several years, until I peaked over $1M, burned out from the stress, and switched to a relatively lower-stress and lower-paying role. I did work hard and strategize to obtain such large compensation increases, but I was also carried along by a booming market that, frankly, needed what I had to offer. Until 2021 I kept my annual expenses between $40k-$60k in the Bay Area. This was done in a hundred little and big ways, from sharing expenses with roommates and significant others, to opting for cheap-ish hobbies like hiking and gaming, to buying Goodfellow t-shirts from Target, to getting flu shots at the CVS attached to the Target in order to get $5 off the Goodfellow t-shirts, to becoming a competent home cook, to exchanging bathroom haircuts with my ex, to opting for shared-room hostels when traveling, to relentlessly compare-shopping flights, to sticking with the 9.99/month gym that played reruns of Charmed every day, to lightly dipping my toes into credit card churning, to always scanning Chipotle rewards, and to buying a used car that I’m still driving even though it creaks and is missing a hubcap. None of these things felt difficult at the time. They were the natural byproduct of a deep-seated frugality, which was itself born of a deep-seated fear of not having enough to protect myself from disaster. Frugality made me feel safe. It gave me control. Even in video games I still prefer to Scrooge McDuck with my crystals, gold, skill points, vespene gas, or whatever, which often leads to death by under-investment. But it would be wrong to say that my quality of life was poor. I’m always tickled to remember that "sometimes, things that are expensive, are worse" (wish I could share this youtube video without getting shadowbanned). And let’s be honest, Charmed still slaps. In 2021 I made an intentional decision to significantly expand my lifestyle, with the goal of increasing joy and decreasing friction. I purchased a home jointly with my best friend. I bought a grand piano, one of my lifelong dreams. I spent less time considering each purchase. I set up 529s for my niece and nephew. I have a generous party-hosting budget, from which every last cent is alchemically transformed into laughter. I eat at upper-mid restaurants regularly. I am now living a fairly luxurious life on $120k annual expenses. It’s taken a while to get comfortable with the increased spending, but my life is undeniably better now and my expenses are still dwarfed by my income. Asset Strategy My net worth consists of the following: $650k net home value $1.3M taxable brokerage, in a variety of stock index funds, the largest of which is VTSAX $850k retirement accounts, in 401k’s and IRAs, both Roth and Pre-Tax $825k company securities $300k cash, mostly in a 5.05% HYSA $75k individual stocks, crypto, etc. By far the riskiest part of this portfolio is the chunk linked to one company’s stock price. I’ve already begun de-risking here and will continue, but I think I’ve had good reasons for not doing it sooner (DM me if this is bothering you!). Beyond that, my preferred strategy has been index funds and chill. I have no desire to own lots of properties and become a landlord. I’m keeping 2.5 years of expenses as cash because I'm contemplating a career break in the near-term (see below). Why FIRE: The Ultimate Mental Health Escape Hatch I don’t hate my career. Sometimes, I even love it. Data science has exploded over the last decade and will keep evolving in weird, crazy directions over the next one. At my best moments, I authentically enjoy thinking, writing, debating, and presenting about tough analysis problems. In my position I can choose what I want to work on (mostly) and I have near-total flexibility in my calendar. It certainly isn’t always this good. In even the best companies, corporate life carries an overhead of soul-leeching that I’m eager to leave behind. I don’t want to “learn into”, “action on”, or “leverage synergy” ever again. The dark side is anxiety. Like me on this subreddit, it’s always lurking, creeping. A lifetime of harsh self-criticism and doubt leaves me with persistent fear that I’ll displease others at work, that my lackluster abilities will be exposed, that I’ll make unforgivable mistakes, that I won’t be able to sustain high performance, that I lack mathematics chops, that I can’t keep up with newcomers, and that I will ultimately prove to be some sort of charlatan. Anyone who’s dealt with anxiety understands that these fears are divorced from reality, or at least reduced into unhelpful straw-men. Yet it’s maddeningly difficult to change a brain that has been trained to think it’s in danger. I’m an insecure overachiever, corporate America’s favorite breed of worker bee. Insecure overachievers never think they’re good enough, so they push themselves to at-times unreasonable lengths to fix it. All managers have to do is set them loose and pat them on the back! Anxious people burn out twice as fast, because a great deal of the energy that should be going into the work is instead subsumed by harmful mental spirals and insomnia. SSRIs and multiple therapists have helped me to manage, but neither is a panacea. This anxiety, countless dozens of times throughout my career, has caused panic. People who are in panic go into fight or flight mode, which can lead to seemingly insane conclusions. Remember the 911 jumpers? Victims were faced with an impossible choice in the face of real danger: wait inside for certain horrible death, or jump. So they quit in their own way by jumping out a skyscraper window, a choice that might seem insane if you weren’t aware of the option they considered worse. When people face extreme mental health struggles that lead to suicide, it might feel to them like the same choice, even though it's a response to internal catastrophe rather than external. My anxiety is categorically neither of those extreme cases. But when panic took hold at work, my internal looped monologue always ended in the same place: “I can’t keep living like this. I have to escape. I need to quit as soon as I can.” You can imagine, then, how I felt when I learned about FIRE. I latched on like FIRE was Obi-Wan and therefore my only hope. Now that I’ve told you why I got obsessed with FIRE, I can also tell you that it’s a terrible motivation! Far better to address mental health problems at their root than to yeet out of a great career in order to sidestep triggers. Retiring from work would relieve a lot of distress in the short term, but it won’t fix me. Generalized anxiety doesn’t just roll over and die because the cross-functional alignment meetings dried up. Yet, the financial freedom I’ve attained in the last couple years has allowed me to blossom. Think Julie Andrews in the opening scene of Sound of Music. Because I’ve lived so far below my means, I was able to trade 40% of my income for a lower stress job without a second thought. My nest egg pays me a dividend in the form of optimism, which inspires me at random to draft ideas for the rest of my life. And my god, there are so many possibilities on that list. What’s Next Earlier in my career, when I felt boxed in, I used to obsess over the Retire Early part. Escape, get out. That’s all that matters. But my 30 year old self would be horrified to know that I’m no longer convinced about permanently retiring ASAP. Looking at the numbers today, I realize that if I made a few adjustments, even to my current lifestyle, I’d probably never have to work again. But over the years I’ve also discovered an unexpected richness in my work. A blessing of being an insecure overachiever is that I have a lot of talents and skills. I’m goal oriented. I like to be useful. All my accumulated experience can be drawn upon and extended to others at minimal cost to me. I want that to continue to be part of my life somehow, because it feels great. I also don’t want to cut off future possibilities by decreeing “I’m done forever!” and tattooing my budget on my ass cheeks. I’m probably not living in my forever house. I might meet someone and/or want to have kids, both of which would completely change the budget game. Still, after going hard in my career for 15 years with anxiety in either the passenger seat or the driver seat, my brain has addled. To borrow from Bilbo Baggins, I feel thin, like butter scraped over too much bread. My focus is shot. I thrash between tasks. Glimpses of motivation are more often hallucinations than the real thing. So I’ve decided that, within the next year or so, I want to take a 1-2 year break from my career in the form of a mini retirement. Afterward, I’d intend to return to my career in some form, hopefully with a revitalized sense of purpose, which means skill maintenance is baked into the plan. In the long term, my definitions of “career” and “employment” are going to evolve. I don’t need to have this kind of job with this high of a salary. I can write sassy opinion pieces, become a career mentor, take on contract or part-time roles doing data work I enjoy, write music, or develop hobbies with routines that feel like the best parts of work. All the while working on being at peace with myself. But I don’t feel quite… done… yet, with this career. Almost like I need to prove that I can conquer my anxiety about it and in so doing discover my final form. Perspective: Mini Retirements As annoyed as I was by some of Bill Perkins’ attitudes in Die With Zero, I continue to be moved by the core premise of memory dividends. We think a lot about compounding interest in financial terms, but life experiences also compound in value. The earlier you have great experiences in your life, the longer you get to enjoy their memory and the relationships or skills you fortified because of them. Doubly so because your energy level to take on experiences at 37 is far greater than 57 or 67. I can do a lot more now than I could later. Given my current financial position, I believe taking a mini retirement is the correct thing to do if I’m optimizing for overall life satisfaction. I’ll be able to start crunching through a huge list of wants while I have the energy of youth. Some concerned parties have wondered: “what if you, like, kept your job but, like, also had experiences?” It’s not an unreasonable admonishment. I have three thoughts in response though. 1) Big bucket-list experiences take time and deserve top billing, 2) It’s hard to fuel your dreams with the sludge remaining in your gas tank after work, and 3) It’s okay to prioritize ample rest and a true mental reset. Burnout can take a very long time to heal. A mini retirement costs a lot of money. There’s both expenses and foregone wages. On the other hand, not taking the mini retirement costs potentially irreplaceable life experiences and their dividends over decades. I’m extra convinced about this because I’ve already taken a mini retirement. A while back I quit a job to travel around the world on a shoestring budget, and I cannot overstate the disproportionate memory footprint that has had on my subsequent life. For anyone who’s pursuing FIRE, I’d strongly recommend carving out a mini retirement if you are able. The empiricist in me believes there’s no better way to understand how you will be during retirement than to simply try it out. In 2024 I think fears about 1-year resume gaps are a bit overblown, at least in my industry. Interviewers seemed genuinely interested to hear about what I did while I was unemployed, because I did cool stuff. Perspective: The Frugality Muscle I like to think of frugality not as a personality trait, but as a muscle. If you exercise that muscle a lot, frugality doesn’t feel hard. It becomes a routine. It’s just how you live. I’m a goal oriented person, so I’ve at times made a game out of spending less too. In 2021 I made a choice to double my expenses. But I’m determined to keep my frugality muscle in shape. I’m never planning to stop optimizing flight prices. I want to keep furniture shopping on eBay or Facebook marketplace to find deals. Target is still my bitch. I do all my laundry and cleaning even though I could afford a housekeeper. Keeping up my frugality muscle is what gives me confidence that I can adjust downward if times get hard. Perspective: Safe Withdrawal Rates Given what I’ve said above about mini retirements and the frugality muscle, I’m not too preoccupied with picking exact or static SWRs. I am anticipating change, and flexibility makes FIRE plans much more resilient. I like the Rich, Broke, or Dead calculator to help evaluate. 27-30x expenses is a very strong launch point for any FIRE plan, and I’m just starting to touch that range. If the market takes a serious turn soon, I have recourse. One, I can return to work. Two, I can reduce expenses. Like maybe that year I won’t spend $300 on a totally rad “bear market” costume for Halloween. I have other tailwinds to help. One is that a huge portion of my expenses are housing payments, which are inflation-resistant. Another is that I’ll eventually get something out of Social Security, and may get a bump from inheritance (though I hope my parents spend as much of it as they want). Perspective: Mistakes While it’s hard to argue with my current result, my FIRE mechanics have been far from optimal. If you’re anxious like me you might snort awake in the middle of the night thinking “why didn’t I put $100,000 into the stonk that 10x’ed, before it 10x’ed?? I’m so stupid!” and then take a tiny little Xanax to forget, and then whisper a prayer to our Lord Mogul John Bogle before sweet oblivion’s embrace. I’ve made my share of mistakes: Not knowing much about investing early on, I sent all my 401k contributions into Target Date funds and left them there for a very long time. I also chose a set of taxable index funds that were off the beaten path, thinking it wouldn’t really make much of a difference. These have all meaningfully underperformed the S&P 500. It took me too long to wisen up and critically evaluate my rate of return. I got caught making some impulsive crypto decisions at the peak of hype, which cost me $15k within a matter of months. I paid off a large chunk of low-rate student loans in a lump sum payment because I couldn’t wait to be done with them. It wasn’t optimal, but I forgive myself! I left my accounts alone for a couple quarters only to realize that I still had lots of cash in settlement funds and not investments. I didn’t fully understand how property taxes worked when I bought a house, and I ended up missing a payment and getting fined. Perspective: The Hedonic Treadmill Years ago I got into a long discussion with a best friend about the hedonic treadmill. The literature indicated that big lifestyle changes lead to temporary increases in happiness, but that happiness eventually reverts to a baseline level more to do with the person's temperament than their circumstances. If that’s true, it implies that being born very wealthy leaves you almost no opportunity to get joy from an improved lifestyle, unless the frontiers of technology and services themselves extend. Your expectations started high. It also suggests that one way to help maximize happiness and memory creation is to start low-ish and periodically, selectively, upgrade your life, or splurge. Don’t do it all at once. Don’t do it until you can afford it sustainably. But do it in measured increments, little stairs to heaven. Here my thinking may diverge from the classic FIRE mantra of set-and-forget your lifestyle. Within the context of FIRE, it might mean you’d want to start with a lower withdrawal rate, and gradually bump it up as you get older. In all likelihood, your asset base will grow to support it. Conclusion… For Now I love this community. It’s like they took all the children who waited for 2 marshmallows in the Stanford Marshmallow Experiment and sent them to summer camp to come up with a practical philosophy of living and happiness. At the scale of decades, delay of gratification takes an enormous amount of willpower and discipline. The rewards on the other side can be incredibly sweet, and all the more so for the effort it took to achieve them. If you're on this path, in any shape or form, you're already doing great. Once, an acquaintance took a critical eye towards my path in conversation. Paraphrasing: “You’ve worked so hard and you’re making so much money. Isn't it a little masochistic to not let yourself enjoy what you worked for? Why put up with the stress if you’re not going to buy things with your money?” Although I didn’t say it at the time, I can now conclude reflectively that I did in fact buy something. I bought the biggest thing I could buy. I bought the rest of my life. submitted by /u/FirstFireThenSlay [link] [comments]

  • Young dentist in hopes of FIRE, need advice on where to begin
    by /u/ComfortableTour3792 (Financial Independence / Retire Early) on July 14, 2024 at 2:06 pm

    I'm a 29 yo dentist 1 year into practice, and my goal is to be able to retire early if I want to. The path to being a dentist has given me a late start and a bunch of student loan debt. I’m not currently married, have no children and do not see myself being married in the next few years. I need some advice on what to do with my money, suggestions on where to put it, etc. as my financial background is slim to none. Here are my numbers: Income: I started my first job in Aug. 2023 with about $9k to my name. I made ~$320k up until June 2024, maxed out the 401k offered through the employer. I took a job at a different office and my guaranteed salary is $200k (same as the previous) but should make no less than $350k at the end of the first year as this just factors in percentage of production. No 401k, but offers Simple IRA (3% match) that I won’t be contributing to until 2025, unless advised otherwise (see below). I am looking to get into owenership (solo or partnership) within the next 2 years Assets: Savings: ~ $144k in Fidelity MM account (FZDXX) - parking all my money here currently and treating as a HYSA (not sure if it’s the smart thing to do) Retirement: 401k ~$23k, maxed out personal contribution; Backdoor Roth IRA ~$15k. Cannot contribute to Simple IRA for 2024 without tax implications dude to having done Backdoor Roth already as this was unforeseen Taxable investments: no current investments Debt: Rent - $1,575/mo Insurances (disability/auto) - $600 Malpractice insurance. Covered by job No car payment Other bills (utilities, personal use) - $2k/mo Student loan debt: $480,000 w/ 6.1% total avg interest (payments scheduled to start October 2024) To a lot of people on this subreddit, retiring early probably does not seem feasible, but I do want to make steps, aside from increasing my annual income, to grow my net worth aggressively. I do plan on purchasing a practice in the near future (1-2 years), probably in the 400-500k range. I would like to start investing and eventually diversify my investments in physical real estate as well, both residential and commercial/medical. What other early action steps are important to take? Other tax-advantaged account options? I don’t come from a background with any knowledge in the medical field or much help financially, so the road to dental school was difficult. Looking back is hindsight, and I’d like advice on how to go from here on. Thank you everyone in advance! submitted by /u/ComfortableTour3792 [link] [comments]

  • Daily FI discussion thread - Sunday, July 14, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 14, 2024 at 9:03 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]

  • Daily FI discussion thread - Saturday, July 13, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 13, 2024 at 9:03 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]

  • Milestones: 32yo 1.7mm net worth and 1 year on HRT - a trans FIRE story
    by /u/Rock_out_Cock_in (Financial Independence / Retire Early) on July 12, 2024 at 4:29 pm

    So it looks like I'm losing my tech job in the next 3-5 weeks and I've been stressing out. As part of trying to center myself I took stock of where I am and what I want out of life. I realized I'm really lucky. When I was 21 I set out a goal to retire between the ages of 31 and 33. I wanted to save 1.6mm-1.8mm, downsize my lifestyle, and travel the world. I met a girl who wanted to do State Department Foreign Services and I was onboard to be a trailing spouse. Then 3 years ago we broke up because our relationship needs diverged. I still wanted to be ready to retire by 31 if shit hit the fan. Little over 12 months ago after a few years of thinking about my life and working through personal issues in therapy. Suddenly something snapped and I realized the reason I wasn't happy or fulfilled wasn't because of material issues, my dating life, or my job. It was because I was never really a man and trying to pretend otherwise was killing me. I started HRT, changed therapists, and started working towards transition. Today I live happily as a trans woman and I have no regrets. Beyond that, the last 12 months were actually the best rolling 12 of my career monetarily. I made $468k between July 1st 2023 and July 1st 2024. If I can survive losing my job (enterprise account executive in tech) this year will likely be my top or runner up best earning calendar year. I'm happy and doing pretty well in my role all things considered, but after 7 leadership changes in a year without any conflicts of personality I landed on a boss that I just don't get along with. I asked to move teams and was denied. In retrospect he started papering my file and documenting the tiniest infractions the first week we started working together, incidentally 2 weeks after I came out as trans at work. Health wise I've cut back on drinking, reduced my stress, prioritized my sleep, and I've been able to cut back on therapy from twice a week for 2 years down to once a week with an eye towards reducing further. I'm calmer and more centered than I've ever been and while my life certainly isn't perfect, it's felt the most right I finally have access to joy. I have a major surgery coming up, so if I lose my job I'll likely take some time to myself regardless and start the hunt in the fall or winter. The good news is that I knew this was a possibility for a while and put aside $200k to transition for the costs of surgeries, medication, insurance, and getting laid off. Very glad I did because it takes a lot of stress off, and the bonus is that it turns out my insurance covers most of the steps I want. As is the case with most tech company insurances. My goals and to a certain extend values have definitely changed in this time. Choices like children, marriage, sexuality, where I want to live, career, and even early retirement have shifted. Where I used to be staunchly against having children, I find myself suddenly really open to the idea. Fatherhood didn't fit into my life. Motherhood on the other hand, that really feels like it could. I want other trans people to see it's possible to not only survive but thrive through transition. It's an extremely small circle of trans professionals who are out, visible, and at a similar level. It's literally only a handful of us who are in tech sales. So far as I can find I'm 1 of 2 at the enterprise level, and the only one selling to F500. One sample set shows that we're 40x under represented in this industry. Sales at one big tech company makes up about 30% of their organization. Yet within their trans employee group only 0.5% of their trans employees work in sales. My hope is that in 5-10 years it's not so lonely. Companies like where if 30% is sales then 30% of the trans people are in that business group, and we have 1% representation in the sales world just like we do in the rest of life. When I was 21 I set out the goal to retire at 31. In a lot of ways I did it. I set out a goal number. I hit it and became financially independent. More importantly He retired. Now She gets to live the rest of this life. submitted by /u/Rock_out_Cock_in [link] [comments]

  • The Official 2023 Survey Results Are Here
    by /u/Melonbalon (Financial Independence / Retire Early) on May 5, 2024 at 8:53 pm

    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]


What are the top 10 Commandments of Options Trading Strategies

Options Trading/Strategies

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:

  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

What are the top 10 Commandments of Options Trading Strategies

Furthermore:

  • 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.
    Sources:
    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

  • If you had $7k spare that you’d like to invest it in, where would you put it: Traditional IRA or Roth IRA or a regular investment account?
    by /u/mjatin2007 (Financial Independence / Retire Early) on July 18, 2024 at 11:38 pm

    Pretty much the title submitted by /u/mjatin2007 [link] [comments]

  • Yolo’d my life savings in NVDA
    by /u/Competitive-Cod-4070 (wallstreetbets) on July 18, 2024 at 10:15 pm

    submitted by /u/Competitive-Cod-4070 [link] [comments]

  • Most Anticipated Earnings Releases for the week beginning July 22nd 2024
    by /u/rylar (wallstreetbets) on July 18, 2024 at 10:00 pm

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

  • Hawaiian Electric to the Moon!!
    by /u/JShiNYC (wallstreetbets) on July 18, 2024 at 9:37 pm

    Saw a few posts about HE going to the moon soon and regards shitting on the posts. Did some technical/ chart reading on my end and it looked promising - probably going to fill gap to at least $20+. Surprise surprise, it mooned but I am probably going to hold until $25+. 🚀🚀🚀🚀 Market has been garbage this week but this made up for it 😊. I guess I am going to Hawaii for vacation this year. 🎊 🎊 🎉 submitted by /u/JShiNYC [link] [comments]

  • CrowdStrike is not worth 83 Billion Dollars
    by /u/King_Kunta_ (wallstreetbets) on July 18, 2024 at 9:31 pm

    Thesis: Crowdstrike is not worth 93 billion dollars (at time of writing). Fear: CrowdStrike is an enterprise-grade employee spying app masquerading as a cloud application observability dashboard. OBSERVATIONS The 75th percentile retail investor has a tenuous grasp on “Cloud”, “Software Engineering”, and “Cyber Security”. The median “Cyber Security Analyst” has a tenuous grasp on “Cyber Security” The median “Software Engineer” has a tenuous grasp on “Cyber Security” and “Cloud” The median retail investor has a tenuous grasp on “markets” and “liquidity pools” CRITIQUES Corporations could buy CrowdStrike to spy on their own employees. CrowdStrike’s utility is limited- they simply collect all of their customer’s data and display it on a dashboard. CrowdStrike is dangerous in that they have root access to every device(i.e. endpoint) across thousands of firms. CrowdStrike customers sign up to get their firm’s data added to a bank which CrowdStrike then has license to use for “correlation” CrowdStrike is a sitting-duck datamine for the FBI/NSA to subpoena. CrowdStrike could potentially behave as a propaganda arm of the US government by creating “fake hacking stories” which are un-disprovable.They are able to do this due to information asymmetries in society. Properly built “cloud applications” have security baked in by virtue of separation of concerns in the "software supply chain". (e.g. containerization engine developer is different than the OS developer is different than the Cloud Infrastructure Provider). CrowdStrike’s Falcon product contradicts their own guiding principle of “Zero-Trust Security”. COMMENTARY CrowdStrike’s product includes a “client” which runs on every "customer endpoint” (i.e. company issued laptop). Activity on the company issued laptop is reported to an internal dashboard which only an IT guy + a C-Suite admin have access to. They ALSO offer observability into each component of a business’s own “cloud application”. These are 100% different lines of business which can be easily conflated. CrowdStrike admits that they collect all of a business’ “endpoint data'' and they compare it to other data they have to "draw insights"; this means that every company that hires CrowdStrike is part of a DATA COMMUNE. It’s prohibitively hard to hack into a “cloud system” due to few possible entry points Exfiltrating data as scale is difficult; employees of the company pose a bigger threat than "threat-actors". Containerize Everything + Microservices Architecture hampers "lateral movement". Is CrowdStrike compatible with companies that run their IT systems on premises? The CrowdStrike Story So Far… 2020 “Uses cloud technology to detect and thwart attempted cybersecurity breaches” “Runs on your endpoint or server or workload” “Signature based technologies don’t go far enough” “We collect trillions of events” “There hasn’t been a salesforce of security” — FAST FORWARD — 2024 Palo Alto Networks(100% different business line) is being pitted against CrowdStrike in the media. Crowdstrike allegedly offers a poorly differentiated suite of generically titled products: (Falcon Discover, Falcon Spotlight, Falcon Prevent, Falcon Horizon, Falcon Insight(EDR), Falcon Insight(XDR), Falcon Overwatch, Falcon Complete(MDR), Falcon Cloud Security). There is no way to confirm unless you schedule a meeting with their team though. I spoke to a “Network Engineer” at CrowdStrike. He said that he “mostly tries to get bug bounties”. “CrowdStrike сustomers: 44 of 100 Fortune 100 companies, 37 of 100 top global companies, 9 of 20 major banks & 7 of the TOP 10 largest energy institutions.” This makes it a threat vector. Misleading videos on their site: https://vid.crowdstrike.com/watch/P4xk1x3PaH1D6rR4MiW2F5? https://www.youtube.com/watch?v=9x7eiznCfAg https://www.crowdstrike.com/platform/cloud-security/cspm/ My Position: CRWD $185 Put, 11/21/25 expiration date,. 5 contracts @ $7.30, up 16.85% since 06/11/24 First Draft/Final Draft: June 11th/July 18th submitted by /u/King_Kunta_ [link] [comments]

  • $125,000 $META YOLO
    by /u/JimboDogwater (wallstreetbets) on July 18, 2024 at 8:59 pm

    $600 by end of August submitted by /u/JimboDogwater [link] [comments]

  • What Are Your Moves Tomorrow, July 19, 2024
    by /u/wsbapp (wallstreetbets) on July 18, 2024 at 7:57 pm

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

  • Ready to have mental breakdown at 2.3 million invested — looking for both financial advice and perspective.
    by /u/Practical_Amount_550 (Financial Independence / Retire Early) on July 18, 2024 at 7:46 pm

    Male, early 40’s, married (early 30’sF); one two-year-old baby girl and another little girl on the way. Around 2.3m invested in index funds. Around 1.6 is available now, the rest in Roth/SEP. Have approximately 2 years of living expenses as cash. Salary the last couple of years has been approximately $300k at the expense of my sanity. I’ve posted on Reddit in the past and it’s the same old story: I’m having a mental breakdown, I can’t do it anymore; then I pick myself up and I keep doing it. I’m a small business owner and I own a small gym in a LCOL mid-west area. I exclusively do personal training and the majority of the business is me. I have had several near mental breakdowns over the past ten years for a couple of reasons: Owning your own business is scary and hard. I am always afraid it’s going to fold. I was always so scared of this that it drove me to aggressively save for the day that it does. I am resentful of my wife. We weren’t together when I started the business but after we got married, she wanted to quit her job and work with me. After she started working with me, she abandoned me. She would come in to work as she pleased and she did not hold up her end of the bargain. So, we essentially went down to one pay check while I worked my ass off 50+ hours and she enjoyed “early retirement”. I tried my hardest to express this to her at the time. For about a year, she started contributing at work but since our daughter was born and another is on the way, she hasn’t been back. This has weighed heavily on me because it was all on me for so long; I felt alone and scared. Since then my wife has apologized; she told me that when we got married she thought that I would just “take care of her” because that’s how she grew up. She expressed that she was young (she’s 7 years younger), immature, and she didn’t understand what a marriage was and how to contribute. Since our daughter has been born, my wife has transformed into an amazing mother but I still harbor a grudge. To be fair, the one year she did contribute at work, we absolutely crushed it and I’ve been striving to maintain that by myself. I enjoy earning a lot of money. I come from a scarcity mindset. I don’t flaunt money or purchase extravagant things. We live well below our means. Money is security to me. The more I earn, the more I can save; the more I save, the more secure I can feel. This year has not been a great year at work. We are on track to make less than last year (maybe $225-250k). This stresses me out tremendously. I always strive to make more each year. The reality is, I do not have the energy and motivation to go above and beyond and do the things I need to do to attract new clients right now. I’m passionate about what I do for a living and I truly enjoy the actual work. Getting new clientele and beating last year’s numbers are the hardest parts. Plus, I have much too large of a clientele for one person to handle. My OCD tendencies allowed me to build it this big but it’s too big to manage for one person and I know that. However, whenever I have an almost mental breakdown, I’m always able to snap out of it and build it bigger. I’ve tried hiring people and it just doesn’t ever work out. I dread going into work and seeing it being less successful than the previous year. It eats away at me every day. My only escape is spending time with my daughter, but even then, I’m not fully present. I could be spending time with her now but I’m on Reddit. I feel so alone because I am so resentful toward my wife that even though she has transformed into a great mother now, I just think of all the years of struggle I went through alone. I love my work schedule right now. I work about 30hours per week although I work 24/7 in my head. But 30 hours for $300k that took over a decade to build, I feel very grateful and I don’t want to lose it. I was hoping to FIRE by 50. Realistically, with 2 kids, $100k after taxes would make me comfortable. Being able to retire with 4+ million would make me feel more safe though. So I have to get through 8 years but I’m finally having the real mental breakdown NOW. I’m having physical symptoms now. I can barely get out of bed and I can barely get through the day. I’m shaking constantly and I can’t take it anymore. My wife and I are in therapy together but it doesn’t feel helpful to me. Can anyone relate to this situation or provide some perspective? I wish I could just let go and not care about work; just let work dwindle down and make living expenses but something within me can’t stop caring. Any advice is greatly appreciated. ps. I realize my thoughts are scattered; I’m not feeling my best. submitted by /u/Practical_Amount_550 [link] [comments]

  • Please AMZN
    by /u/joe_bidens_underwear (wallstreetbets) on July 18, 2024 at 7:42 pm

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

  • I'm starting to see a pattern ...
    by /u/So_Far_So_Book (wallstreetbets) on July 18, 2024 at 7:13 pm

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

  • Nvidia stock outlook: Expect a big reveal on upcoming Q2 earnings call
    by /u/chrisbaseball7 (wallstreetbets) on July 18, 2024 at 7:09 pm

    submitted by /u/chrisbaseball7 [link] [comments]

  • First time buying options i just want to share it and hope it goes my way
    by /u/Imaginary-Read-9781 (wallstreetbets) on July 18, 2024 at 6:36 pm

    submitted by /u/Imaginary-Read-9781 [link] [comments]

  • Tesla's California registrations fell 24% in second quarter, dealer data shows
    by /u/sneakyjesus33 (wallstreetbets) on July 18, 2024 at 6:11 pm

    submitted by /u/sneakyjesus33 [link] [comments]

  • A sick one
    by /u/WA_Hooligan (wallstreetbets) on July 18, 2024 at 5:18 pm

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

  • IMF says U.S. should raise taxes, wait until late 2024 to cut rates
    by /u/romt_25 (wallstreetbets) on July 18, 2024 at 4:40 pm

    submitted by /u/romt_25 [link] [comments]

  • People acting like it’s the beginning of the end because this happened… zoom out fellas
    by /u/anonymoususer397 (wallstreetbets) on July 18, 2024 at 4:39 pm

    I’m people submitted by /u/anonymoususer397 [link] [comments]

  • Have at it you glorious regards!
    by /u/Praline-Alone (wallstreetbets) on July 18, 2024 at 3:55 pm

    I pulled out $350k from IRA for 60 day Rollover to “scalp” some $ in my taxable account. Had $30k in taxable account trying to get it to $50k using extra leverage from IRA. Only 1 problem: I literally bought Aapl and NVDA at the top on Tuesday afternoon. Unbelievable! So $30k of investing account is gone. Can’t and won’t risk the $350k IRA or I’ll be in divorce court. F’ing tempting though—cuz I KNOW I CAN WIN IT BACK! 😂😂🤕 To add insult to the acid rain in my souls today. RH said I had too many Daytrades yesterday (as I frantically tried to ODTE my way out of it). 90 day position opening “ban”. So moving it back to IRA then switching to WeBull for 3.5 IRA match and giving the passwords to my wife’s boyfriend: submitted by /u/Praline-Alone [link] [comments]

  • 100% - $16k SPY PUT gain in 29 minutes.
    by /u/Buffett_Goes_OTM (wallstreetbets) on July 18, 2024 at 3:42 pm

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

  • loss porn
    by /u/Adventurous_Cost_591 (wallstreetbets) on July 18, 2024 at 3:01 pm

    submitted by /u/Adventurous_Cost_591 [link] [comments]

  • Sorry guys I loaded up a new account yesterday. My bad.
    by /u/throwinaway1999 (wallstreetbets) on July 18, 2024 at 2:26 pm

    submitted by /u/throwinaway1999 [link] [comments]

  • RDDT is going to crush its next 2 earnings and you are overlooking it
    by /u/Zephyr4813 (wallstreetbets) on July 18, 2024 at 2:13 pm

    "B-but reddit sucks and fuck spez... amirite?" Yeah yeah yeah, it's super cool to hate on Reddit as a Redditor. That doesn't change the fact that you are using the platform right now, and YoY daily active users increased by 37% as of the first RDDT earnings call. "But Reddit has never made a profit" - Yes, low expectations are why this is an opportunity, dumbass. As dumb as it sounds, Reddit has never tried to be profitable. This is changing as they are now a public company with fiduciary responsibility. Advertising - RDDT's huge investment in improving their advertising technology for advertising customers is beginning to manifest. They are beginning to finally enable effective target marketing based on user interests, demographics, etc. Remember, Reddit user interests and hobbies are neatly sorted into what subreddits they are subscribed to, visit, and their comment history. I can feed an AI a Reddit user's comment history and it will create a pretty accurate profile of their interests, hobbies, age, location, and problems. This is a medium absolutely RIPE for advertising, and Reddit's recent partnership with OpenAI WILL be leveraged for both target marketing and advertisement creation. Reddit marketing campaign - Reddit's marketing campaign to get companies advertising on Reddit is in full force. Ads are beginning to swarm Facebook and Instagram. I believe that based on the companies I've seen advertising on Reddit recently (Apple, Samsung, HIMS, small businesses, and much more) that it has been effective at gaining customers. I've been seeing a few different variations of this ad, utilizing common subreddit slang. For example, this one uses the LPT template. I saw another that was ELI5: https://preview.redd.it/hju0obs9cadd1.png?width=681&format=png&auto=webp&s=f50e0d1c611f535c8cea5f72456bd265c9b33b67 3. Reddit user growth 37% YoY - Reddit's partnership with Google is serving up Reddit to normies in swathes. People who might not have been aware of it have been using it for research, opinions, hobbies, etc. Many of these people will, and are, being pulled in as full reddit users. I caught my normie wife using reddit for her crafting hobbies and pregnancy products research. People are appending "reddit" to their Google searches because they crave authentic human discussion. This is not even mentioning short term catalysts for people visiting reddit for human discussion: 2024 US presidential election and associated turmoil 4. Reddit user demographics - Reddit is inherently commercial. People discuss purchases, hobbies, and interests constantly. Its users are also largely high income individuals in 1st world countries between the ages of 18 to 40. This is the most valuable demographic for advertisers, as these people actually have discretionary spending ability. 5. Reddit's moat and competitive advantage - Reddit's collection of communities and cultures spanning almost every interest has kept it growing steadily for over a decade. No other single platform beats it for ANY individual to find several communities that meet their interests in one place, share news, participate in authentic human discussion, and access a treasure trove of questions asked by users over the past decade. Reddit doesn't always have the best answers to questions, but its discussions are largely real people sharing honest opinions, and that has a lot of value. -----------Long term bull cases---------- 6. AI Data Deals - AI is getting more advanced and will rapidly continue to do so for the next decade. Reddit contains 15 years of human discussion on every topic imaginable, and it is constantly building its data for every fresh topic. This is a valuable data source for LLM training, and there could be growth in this sector. "B-But pizza glue" - We are still in the early stages, and the pros will outweigh the cons long term. 7. Reddit Marketplace - It's only a matter of time before reddit facilitates C2B and C2C transactions for its many hobbies and interests. There is money to be made there. 8. Acquisition - If big tech decides to acquire reddit for any number of good reasons, you win as a shareholder as they will pay a premium. 9. International expansion and AI translation - Reddit is investing heavily in using AI to translate all content as human readable across all languages, with the goal of connecting people internationally and expanding its audience internationally. There is a shit ton of money to be made internationally and it is only a matter of time before this occurs. Here is a courtesy timestamped link to a recent interview where the CEO discusses this: https://youtu.be/xJn_0cFPw0g?si=SiCXCOt573DB8kOW&t=782 "When is the next earnings call?" - August 6th. I think this has the potential to crush, and the following one in early November will have even more potential. Similar company valuation comparison: I believe the following valuations are FAIR for how much revenue has been reported recently, but I believe it does not account for what will be a big surge in RDDT revenue. Reddit will easily meet the valuation of Pinterest, making it 3x. Longer term, I see 8x-10x. RDDT - 10.6bil PINTEREST - 28bil SNAP - 24bil "Okay bitch then post positions or GTFO" 176 shares: https://imgur.com/a/Ne4XX5t 4 call options: 1/17/25 expiry 80 strike price https://imgur.com/a/WJcVtkL DONT SAY I DIDN'T WARN YOU submitted by /u/Zephyr4813 [link] [comments]

  • Amazon Announces Record-Breaking Sales for 2024 Prime Day Event
    by /u/Dhaimoran (wallstreetbets) on July 18, 2024 at 1:19 pm

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

  • “Dominos surpass estimates” Market answer :
    by /u/lordtaylof (wallstreetbets) on July 18, 2024 at 12:38 pm

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

  • Daily Discussion Thread for July 18, 2024
    by /u/wsbapp (wallstreetbets) on July 18, 2024 at 10:15 am

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

  • Daily FI discussion thread - Thursday, July 18, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 18, 2024 at 9:03 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]

  • Brrrrrrrrrrr 💸
    by /u/FOMO_Gains (wallstreetbets) on July 18, 2024 at 5:45 am

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

  • Involuntarily FIRED, what next?
    by /u/anonymous_1983 (Financial Independence / Retire Early) on July 18, 2024 at 3:03 am

    Ever since last year, when my Big Tech employer started laying off people, I've been considering FIREing. The work environment had become much more stressful and political, and I dreaded coming into work every day. What gave me second thoughts about quitting was that I had a golden handcuff of about $500k worth of unvested RSUs. Today, I was given 60 days notice that I'm being laid off. They are giving me a generous severance package of about 28 weeks' worth of pay. I've been working towards FIRE for the past 8 years, and have a net worth of about $5.5M, including: $1.4M paid-off house in a HCOL area $120K in cash and CDs $47K in HSA $1M in pre-tax 401(k) $450K in Roth IRA $2.3M in taxable investments (mostly in VTI, and including $500K of vested RSUs). I'm single, in my early 40s. I estimate that my expenses are about $100K/year so I think I should already have enough to FIRE. Here are what I'm planning to do for the next couple of months: Travel (~3K) Renovate my kitchen - I've been putting it off for a while and didn't have time to do it (~40K) Buy health insurance ($??) - my income this year will not qualify me for subsized insurance but I should be able to qualify next year For next year, my plan is to: Slowly convert my pre-tax retirement account to Roth Increase my bond allocation Sell some of my appreciated stocks to convert to spending money and to take advantage of the low LTCG rates. I probably should sell my RSUs and buy VTI. Anything else I should be doing? Thanks submitted by /u/anonymous_1983 [link] [comments]

  • Apple, Nvidia headline $500 billion slump as Nasdaq limps to worst day since 2022
    by /u/Similar_Diver9558 (wallstreetbets) on July 18, 2024 at 1:56 am

    submitted by /u/Similar_Diver9558 [link] [comments]

  • Y'all see how the market absolutely crashed today???!!1!!1!
    by /u/Supreme_Mediocrity (wallstreetbets) on July 18, 2024 at 1:56 am

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

  • Every tech bull after market close July 17
    by /u/lucididdy777 (wallstreetbets) on July 17, 2024 at 9:02 pm

    submitted by /u/lucididdy777 [link] [comments]

  • A reminder for those who have forgotten
    by /u/Hendrix909 (wallstreetbets) on July 17, 2024 at 8:54 pm

    submitted by /u/Hendrix909 [link] [comments]

  • Bond tent vs 3 years of expenses in "cash cushion" in retirement
    by /u/mh330 (Financial Independence / Retire Early) on July 17, 2024 at 5:33 pm

    Relatively new to the idea of the bond tent so i may be misunderstanding its nuance, but Kitces 10 year ramp up and 15 year draw down sound crazy long to me. How can the danger zone be 25% of a lifetime? I had always planned on keeping a "cash cushion" (CDs, bonds, cash, pick a flavor) of X number of years of withdrawals to ride out market corrections. From what i can see, most corrections including 2008 saw the market return to previous levels within 3 years, so my plan would be to hold 3 years of "cash". If the market is doing well, i'd take 4% from stocks. If the market crashed, i'd pull from the cash cushion instead, which would be replenished from stocks once the market recovered. But holding an extra 30% bond allocation in your portfolio (up to 70% bonds as Kitces outlines) just in case sounds over the top conservative to me. My idea of holding 3 years in cash is more like a 10% swing into bonds, not 30%. What are the holes in my strategy that i'm not seeing? Or am i simply wrong that most corrections recover in a 3 year timeframe? submitted by /u/mh330 [link] [comments]

  • Unexpectedly Inherited 3.1m
    by /u/Capital_Leader_1726 (Financial Independence / Retire Early) on July 17, 2024 at 5:05 pm

    In March, I discovered that I've inherited $3.1 million through a trust from a distant relative. This money is currently invested in index funds, managed by a financial advisor who charges a 0.5% fee. We are allowed a maximum annual distribution of $15,000 until we turn 50, except in cases of emergency. We've decided not to tell anyone about this inheritance for obvious reasons and prefer to let it grow untouched. My husband has been talking about the FIRE movement's 4% rule since our first date, but our focus has been on paying off student and business loans. We paid off student loans last December and business loans in June. Our financial advisor, estate attorney, and CPA are all thoroughly vetted and reputable. We are both 36 years old and financially conservative, with a 3-year-old daughter. For the past two years, we've maxed out our HSA and 401ks, but before that, we didn't invest much due to loans. I work from home in a commission-based job, averaging $60,000 pretax since 2020, with a prior average of $44,000. My husband started a business in 2021 and has averaged 110,000 2021-2023. 2024 is on pace for $180,000 and $200,000, along with an additional $50,000 to $100,000 in distributions. We expect for both salaries to plateau. Before 2021, his earnings ranged from $40,000 to $60,000. We have no business loans, car loans, or student debt, having paid off everything in the past five years. Our remaining debt consists of $383,000 in mortgages, detailed below: A rental property with $66,000 left on the mortgage at a 4% rate, purchased for $163,000 and currently valued at $325,000. The tenant is a family friend escaping an abusive relationship, paying $1,300 per month (market value is $2,800). The rental breaks even after insurance and taxes. In 18 months, we'll raise the rent to market value. This gives the tennant two years to get on her feet. Our primary residence has an outstanding mortgage of $230,000 at a 4.5% rate, valued at $725,000. We have no plans to move or undertake major renovations. We also have $120,000 in a high-yield savings account, $30,000 in a brokerage account, and $100,000 combined in our 401ks. Additionally, we own two 10-year-old Hondas that are have no issues. We both enjoy our jobs. I've discussed with my husband the possibility of retiring at 40 or 45, but I'm unsure how to plan for 5-10 years of retirement with a child. Any advice or insights would be greatly appreciated! EDIT: We will likely spend $85,000 in 2024 and potentially 100,000 if we go on a vacation we've talked about. submitted by /u/Capital_Leader_1726 [link] [comments]

  • Way to many haters. This is for those who ACTUALLY want encouragement and not for those who want a pity party
    by /u/SPXJUICYPUMPZ (Financial Independence / Retire Early) on July 17, 2024 at 3:07 pm

    Here's something I'm trying to understand about this forum. The forum is called financial independence and it's goals are trying to find ways to become financially free, encourage others, help people along their journey, and seek encouragement from people who are successfully achieving short-term and long-term goals. Why is it than anyone who is successfully navigating the financial space and finding clever ways to save, invest and achieve freedom are being downvoted. It's like you all want to be free and save and invest but don't believe in the power of compounding or just straight-up saving and living below your means. People post looking for tips and tricks and encouragement. I will offer tips that have worked for me, also show people exactly what 8 years of consistency can do for a portfolio and I get downvoted, told not to be fake, told not to lie, told that my life must "fuckign suck." If you don't think that you can expect any market returns on a portfolio you're consistently dollar cost averaging into week after week, month after month, year after year, then why are you investing? Honest question. Because it seems like a lot of you are shitting on people's hard work and discrediting things that are actually achievable if you stay consistent. My own financial picture has changed dramatically over the past 10 years and I am proof it can be done. I am married, have 4 children, own a home, have no debt except for a mortgage balance of $149,000. When we first started looking for houses the bank approved us for ~$400,000 dollars but we knew we didn't want to be a slave to debt for 30 years and have huge chunks of our paychecks eaten up by a mortgage so we bought a small house well below our means for $205,000. This was a year before COVID fucked the market, so there is some luck in that. That said if we look hard enough everyone has some degree of luck in their lives at some point that if recognized can change the course of their life substantially. People inherit sums of money or properties, people have connections that shoe them in the door for higher paying jobs, people have higher degrees of inate intelligence and athletic abilities, people win money, people have their college education covered by grandparents, parents or financial aide, people inherit vehicles, people invest at the bottom of a market cycle and see growth for years. Luck happens. It doesn't negate work. Before we bought our house we knew we didn't want to have debt so we moved into a cheap RV and paid 300 dollars to live in it a month. During the course of a couple years we paid off alll our debt, and saved a 20% down payment and $10,000 dollar emergency fund. We found a house at a steal, pulled the trigger, moved in, accepted it needed lots of work that we would slowly cash flow over the years and got married at our home with 185 friend and family in attendance. Our wedding was backyard and BBQ style and cost a total of 5k. We went into our marriage debt free. We immediately started having kids. Our household income through all.of this has been between 68k-90k we consistently lived off of ~$30,000 dollars a year and invested the difference. Maxing out 2 Roth IRAs, an HSA, Putting $1320 a year into each of our children's 529s to at least help them with college, everything else went to our brokerage and maintaining our Efund. 2-3 percent of our investments went to speculative stuff namely BTC and a bit of ETH. 8 years later we are both 33 years old, wenare still debt free except our mortgage. yesterday we hit $401,500 saved and invested. With home equity we have a networth pushing $700,000. This is a breakdown of how it looks today with the market being a bit down from yesterday: •Roth #1: $50,742.15 •Roth #2: $39,009.59 •Trad: $10,942.19 •Health Savings Account: $48,466.53 •Brokerage#1: $120,424.18 •Brokerage #2: $66,116.06 •529 #1: $7996.33 •529 #2: $5999.92 •529 #3: $3589.98 •529 #4: $1709.82 •Bitcoin: $20,674.96 •Ethereum: $3463.67 •Cash Savings: $20,070.83 •Other: $2362.17 Total: $401,677.51 All of this achieved over 8 years of consistently investing. Living off of ~$30,000 and dollar cost averaging the difference. Our investments are essentially 60/40 split between VTI and VXUS in all our accounts. This post ist to prove to those who want to know if it's possible to save on not a high income and to give people the faith that eventually compounding helps you reach your goals faster...i.t just takes some time and commitment. If you need tips or tricks let me know. And to all you haters who are constantly down voting success stories and commenting negative shit, enjoy your lonely life. Stop making people who are trying to succeed at something feel like shit and that they may as well give up. Sorry you spent to much money on Pokemon cards and they never appreciated as much as you wanted. submitted by /u/SPXJUICYPUMPZ [link] [comments]

  • New inflation warning: Get used to high interest rates, IMF says
    by /u/Spenny22 (Financial news and views) on July 17, 2024 at 2:25 pm

    submitted by /u/Spenny22 [link] [comments]

  • Weekly Self-Promotion Thread - Wednesday, July 17, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 17, 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, July 17, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 17, 2024 at 9:03 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]

  • Definitely NOT FI - or Young, or working -
    by /u/galfridaygal (Financial Independence / Retire Early) on July 17, 2024 at 4:26 am

    New here, would appreciate thoughts: 60 year old single no kids Completely started over from scratch financially 22 years ago at 37 with no assets, no debt and starting a new consulting business. Worked for roughly 18 years as a 1099/consultant. Lost my consulting gig three years ago - very few paid gigs in three years since. My gross in 2002 was around $25k; grew steadily year by year to roughly 400k gross as of 2021. I obviously had a solid tax burden on the 1099 earnings so this would not be equivalent to the same earnings on a W-2 nor did I receive any benefits. I had some significant perks that offset expenses such as phone, Internet, cable, subscriptions, travel but I also carried more in taxes plus all health insurance. Fast-forward here's my situation now: Assets: $1.8M IRA which was self funded from 2008ish through 2022 $300,000 - cash, funds and IRAs (drawing down on this to cover expenses monthly) Equity in home $450k to $600k and for now climbing daily in my market Investment condo purchased with cash for $250k in 2017; current value $425k. Rental income of $3200 per month;after HOA fees etc. cashflowing max $25k annually. Had some massive assessments that threw a loss on this in two or three years since I've had it. Debt: $20k at half a point on automobile Mortgage on primary residence - $402k principle (see above appraised value is currently 900 to $1m) My Social Security if I earned nothing else would be roughly 3150 a month if I start taking at 67. So - do I even belong here in this group? I don't want to work anymore, but I know I have to and am pursuing that. At this stage, I would feel incredibly fortunate to retire at 65 which would mean getting income flowing between now and then. My current home is a big downgrade from what I had previously but I'm comfortable here. However it's a little too isolating and property upkeep is $$ so I do anticipate selling within a year or so; I have wanted to focus on reigniting my career first. While absolutely not where I thought I would end up, my condo would be a place I could live if I needed to. I will be on my own, taking care of myself as I age further and do have some health issues. I am currently burning through approximately 125,000 a year. Do I have a snowballs chance in hell? submitted by /u/galfridaygal [link] [comments]

  • Early Retirement Execution
    by /u/heylookltsme (Financial Independence / Retire Early) on July 16, 2024 at 9:55 pm

    Hello friends! I'm looking for resources (books, websites, podcasts, etc) that focus on the execution of early retirement. Searching for early retirement resources yields nothing but content on the journey to financial independence, but very luckily for me, I have been there and done that. I'm interested in the other side of that journey - the details of withdrawal strategies, taxes, etc etc. I know it can be quite complicated, so I may well end up partnering with a financial advisor to construct and execute a plan, but I'd like to start getting informed on my own at the very least before going down that road. A little about my situation in case it's helpful: my wife and I are both 40. We're currently expecting our second child in November. She's a social worker who works for our state and has incredible health insurance. I'm a software engineer. We have $1.3 million across our retirement accounts and $500k in a taxable brokerage. We live in a low cost of living area and own our house and two cars outright. Our annual spending is about $80k. My wife grosses $72k. I gross $235k plus a target 20% bonus, plus some shitty company equity. I'm going out on parental leave from November to March and I'm strongly considering not going back and being a stay at home mom for a spell. My wife's salary alone won't totally make ends meet, so we'd need to figure out something. But I feel like we could totally do it. Any recommendations greatly appreciated, thanks! submitted by /u/heylookltsme [link] [comments]

  • Target date retirement funds
    by /u/One-Squirrel-4563 (Financial Independence / Retire Early) on July 16, 2024 at 1:17 pm

    How do you all feel about target date retirement funds? I have multiple accounts (current retirement accounts and past ones that were never rolled over, as well as HSAs) that are invested in various target date retirement funds. I chose it as a quick easy choice when first setting up the accounts and never got to change it. I’m 30 and my spouse is 31, so we definitely have a long time for retirement. In that case, is it a mistake investing in these funds? Should we try to manage our own investments? I imagine the fees for these funds are higher than other options we could use, but maybe it’s worth the peace of mind? Although maybe with our long investment timeline, we could still choose other index funds and forget about the money for years to come anyway? Would love to hear everybody’s thoughts on these! Thanks! submitted by /u/One-Squirrel-4563 [link] [comments]

  • Daily FI discussion thread - Tuesday, July 16, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 16, 2024 at 9:03 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]

  • FIRE'd at 46 holding average "Joe" job...
    by /u/crazyhiit (Financial Independence / Retire Early) on July 16, 2024 at 4:37 am

    Yes, I'm an average "Joe" in all respects. 46/M currently happily retired abroad since last 1 year Here's my story... Worked uninteresting jobs in tech for 20 years. No FAANG's... no top tech companies. Even though I had a relevant academic CS background, I wasn't good enough to get into any top place. Grudgingly accepted my averageness and worked on normal maintenance projects in boring companies Lived a frugal life - spend less, save more. Did not tour the world... heck, did not even tour the US. I was mostly content with small trips in and around where I lived. Growing up in a lower middle class family, I continued living that way after I found myself a job. Drove the same car (Honda Civic) for 20 years and gave it away to charity after we moved abroad. Started my career in a low salary ($60K) and managed to get like a 2% or 3% increment every once in a while. Changed companies 3 times during that span. My average salary over 2 decades is a glorious $100K pre-tax. Total 4 promotions over 20 years. Married late at the age of 34...two kids followed...now 12/F, 6/M. Spouse stay-at-home Without further ado, here's my net worth picture:- Equity investments - $1.3M Fully paid home - $600K (rented out since FIRE'd abroad) 401K balance - $1.3M (all in broad market ETF) FIRE expenses:- We budgeted a lump sum of $35K per year for living expense abroad This includes schooling for kids, monthly home rent/living expense and some discretionary spending like annual family trips. How do we plan to stay FIRE'd? Rent from US home covers ~$25K Equity investments yields another ~$25K annually - mostly selling covered calls at a 5% yield Plan to keep 401K invested in equity ETF and hope to withdraw them at the age of 60 Plan to draw SS as soon as eligible Please poke holes in our FIRE plan? What am I missing? ---------------------------------------- EDIT --------------------------------------- Lessons for the avg Joe to FIRE. This is not for the FAANG types. Thing LONG TERM. If you want to FIRE on avg jobs paying avg money, time and patience is your first dearest friend. Prepare for 15-20 years. I averaged $100K pre-tax salary annually over 20 years Find a job early and stay employed no matter how unsexy it is. It pays bills. Sock away regularly to 401K. I put away exactly $1000 every month to pre-tax 401K. That's roughly quarter of a million invested over 20 years! Read, re-read, and re-read "The Little Book of Common Sense Investing". Press #4 above For the avg Joe, market is your next dearest friend. There is no one else who will diligently work for you. Invest your 401K in any of the broad market/index ETF. VTSAX, QQQ, VTI, VOO are all your best bets Aim for high savings on your post tax money. 40% is decent. 60% pays your bills, rent and discretionary expenses Invest your savings. Take a few moonshot bets - no more than 10% of your savings, but 90% goes to ETF's. Read #4 above Live below your means. I bought a new car when I could afford one. Common sense says buy a used one, but think long term. I drove my Honda Civic for 20 years with nothing more than regular maintenance Invest in a starter home as soon as you can. Real estate is your third best friend. Real estate has always paid back over the long term. Do not take out a massive loan just because you are qualified ---------------------------------------- 2nd EDIT --------------------------------------- For some of you curious about index investing and wondering how an avg Joe just needs 2 friends in his life... Read EDIT above - time/patience is your first friend and equity market is your next best friend. I wrote a small program to calculate what every $1 invested in QQQ over the years would be worth today. This assumes the money stays invested including dividends. YEAR What your $1 invested in QQQ is worth today? 2004 $15.24 2005 $13.73 2006 $13.46 2007 $12.58 2008 $10.57 2009 $18.23 2010 $11.76 2011 $9.80 2012 $9.51 2013 $8.06 2014 $5.88 2015 $4.94 2016 $4.53 2017 $4.23 2018 $3.18 2019 $3.18 2020 $2.29 2021 $1.54 2022 $1.21 2023 $1.81 2024 $1.22 A modest $10K invested 20 years ago, is worth $152400 today! Stay invested y'all! submitted by /u/crazyhiit [link] [comments]

  • How to reach FIRE?
    by /u/Born2RetireNWin (Financial Independence / Retire Early) on July 15, 2024 at 10:37 pm

    M26 working and living with F20 How can a young couple in their 20’s make FIRE in 4-8 years? Current job: M26: About $60k F20: About 30k Savings: $10k cash Roth IRA: $7000 House: Can take a HELOC for $200k (10%) Debt: $4k credit cards Investments: $3k Since we’re both self employed our yearly ranges from $70-$100k combined. Our expenses are currently: About $1.5k / mo Just from taking a glance at our numbers. How can we make FIRE in the least amount time possible? Our FIRE number would only be about $1,000,000 We plan to increase our income in 2025 by x2. I’m in the process of studying web development which will be a $20-$30k bump. submitted by /u/Born2RetireNWin [link] [comments]

  • Hit 750k Networth [25M]
    by /u/xuhu55 (Financial Independence / Retire Early) on July 15, 2024 at 9:04 pm

    I wanted to follow up on a previous post where I hit 500k net worth when I just turned 25. https://www.reddit.com/r/financialindependence/comments/17r75xf/25m_journey_to_500k_networth/ This year has such a massive stock market growth that I've turned it into 750k with the same aggressive investing behavior. I also am 99.5% in equities which made the growth incredibly fast https://imgur.com/a/5w8eLdb Next goal 1 million by age 28. For those who are curious about my spending https://www.reddit.com/r/HENRYfinance/s/hzp0SyRYeK submitted by /u/xuhu55 [link] [comments]

  • Hit 400k net worth today!
    by /u/darkyacht (Financial Independence / Retire Early) on July 15, 2024 at 7:53 pm

    23 and just crossed 400k net worth today! Hope this post isn't taken as a brag, but I've really got no one in real life to celebrate it with. The only person in my life who knows specifics about my finances is my dad, and we haven't talked about money in while. Financial independence has been a big goal for me from the time I graduated high school, and I've worked really hard these last few years to get here. Every dollar I have today is money I made from working full time. I hope this post serves as inspiration to others to keep going and smash through your goals! Here's the breakdown: Taxable brokerage: $258,243 Traditional 401(k): $83,244 Roth 401(k): $47,744 HSA: $13,451 Debts/Obligations: $0 Total net worth: $402,682 My full time job is $110k/year (base) and a side gig brings in $1-2k/month. I am still living with my parents, but actively looking to move out (MCOL area - I plan to start out in my area but unsure if I'll stay here long term or not). I have lived with them since graduating high school and we've gotten along mostly well, but lately I've been wanting more freedom which is introducing unsustainable friction between us. 95% of my taxable brokerage is in VOO. The other 5% I have chosen to leave in company stock this year (so far it's outperformed VOO by a few percentage points). If the market stays at current levels, I'm projecting $470k net worth end of year. Best plausible case is $500k, and the worst, well... worst case is lower than my current net worth lol. But at least I'll be buying the dips. I made a lot of mistakes in the markets along the way, most of them when I was starting out. I rode the GME wave and lost 10k, which felt like a lot of money at the time. I also had several other failed "get rich quick" attempts, which cost me a few thousands here and there. Even though these were painful experiences, I'm glad I went through them. I wouldn't be the investor I am today without them. One of the bigger mistakes I made was missing out on last year's rally. At one point, I had over $150k parked in VUSXX paying only 5% (I live in a high tax state, so the real return was more like 3%) while the market rallied 15%. I posted about it in this sub at the time, and boy am I glad I did. Most of the advice I got was to get back in the market, so I ended up lump summing the whole $150k, and I haven't looked back. The idea of dropping in such an amount was mortifying to me at the time, but the research said that lump sum comes ahead ahead most of the time, so I just closed my eyes and took the plunge. Since then, I've worked to shift my perspective on risk and overcome my fear of losing money, and I feel like a more mature investor now. At a young age, money's natural habitat is in the market, not sitting in a conservative bond fund. I'm cautiously optimistic for the future, but I realize I've got more work to do to reach my goals. I don't have a set number, but I want to have the freedom to work a part time job if I choose to and not have to stress about money. I've simultaneously also realized that money isn't the end-all-be-all, and my next goal is to decrease the dominating role that money currently plays in my life. That will also take some time and introspection; but - just like investing - it's a marathon, not a sprint. submitted by /u/darkyacht [link] [comments]

  • $5 million NW after 24 long years
    by /u/Sea-Investigator1558 (Financial Independence / Retire Early) on July 15, 2024 at 2:54 pm

    Just broke the $5 million net worth milestone after working 24 long years after college. Currently 47M. Dual income with two kids in college. Felt Financially Independent since 2019. The first $2 million was really hard (took ~18 years). The remaining $3 million was pretty easy and quick (~6 years). The breakdown: $4.0 million in retirement accounts -- mostly Pretax. $600k brokerage $100k HSA $300k home value *Ignoring other material stuff and the kids 529 funds. Our annual income is $240k. Annual living expenses about $35k. Oklahoma is very low cost. Debt free since age 31. My main career before was Software Engineering and wife is a Physician Assistant. Both of us have 4 years of college and was raised pretty poor. Edit: The plan for me is probably work another year or two. 2020 I got 100% remote job making $65k today. Easy job, hands off manager. No meetings. Zero chance of me going in the office ever. I have a pretty sweet Gig if I am being honest --I only really work ~25 hours a week and my manager lives my performance). I would describe myself as: House Husband with two older teenagers and a wife...oh, and a 40 hour a week Job at home. Wife works with Cancer patients and feels a purpose for her career at the moment. My focus for months has been trying to convince wife we can take a "Gap Year" away from work. Son is a Junior in College and daughter an upcoming Freshman in college. (Both studying our same careers for some reason). They both live 30 mins away and come back every weekend. Wife wants to work til daughter is done with college (Me: Sigh...) After quitting I plan doing a 12-24 month road trip across the USA hitting the National Pars -- think glorified Van life in a Minivan with 2-3 nights in hotels to recharge--Yes, CRAZY is what my wife tells me. I hate flying and got my first SEVERE jet lag coming back from Hawaii of this year. We both reached a minimalist lifestyle in our 40s. Even if we DOUBLED our expenses, it really wouldn't bring us that much more joy. We were just as happy and comfortable at $2 million versus $5 million. My initial goal was not to get rich, but avoid taxes every legal possibile way. Oh and 100% of our retirement funds is in S&P500. And since we have such a low living expentit will remain at 100% for awhile. I made A LOT of POOR individual stock investments thus only $600k in the Brokerage account(Stay in S&P500 kids!!!). We took advantage of 401k, 403b, 457, HSA, Roth IRA. So each year since 2013 we were putting $60-$80k into retirement/HSA accounts all into S&P500. $35k a year is just for Basic living expenses. Think food, utilities, home/car insurance. Life is cheap when debt free and no payments/interest. I can buy A LOT of food to cook with a $1,000 a month budget!! submitted by /u/Sea-Investigator1558 [link] [comments]

  • Daily FI discussion thread - Monday, July 15, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on July 15, 2024 at 9:03 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]

  • Will this hurt us from reaching independence?
    by /u/Standard-Resort-6004 (Financial Independence / Retire Early) on July 15, 2024 at 6:11 am

    My wife(34) and I(35) found a dream home we could build on a lot with a pretty unbelievable view. It's an amazing home and we'd never want more. It would be new construction with Toll Brothers and land around $1.5M. We have 2 kids under 2 and might have 0-2 more. Given that, we are likely 1.5yrs away from it being completed, but the lots are selling quickly in the development so we may need to act quick. Current Financial Scenario: Annual Income: $350k+ (Wife: $130k, Myself: $250k) Monthly Income (after maxing 2 work Roth 401ks, HSA, taxes): $15k-$20k+ Monthly Living Expenses (excluding home costs): $4-5k Current 2018 Home Cost: $2k/month (including mortgage and insurance) we have a 2.99% rate Current Assets: Cash Equivalents: $28k Taxable Investments: $400k Tax-Advantaged Investments: $413k Property Value: $720k (with a $336k mortgage balance) Company ISO stock: maybe nothing, maybe $500k+ :fingers crossed: Two new 2023 cars payed off Debt: No debt other than the mortgage Options Being Considered: Don't Do Anything: Continue with the current financial and living situation. Save a ton and invest. Buy a New Dream Home: Cost of New Home: $9k/month (includes taxes/fees Keep first home and rent for $3k/month (hire a property manager for 10%) Additional Context: Both homes are in growing markets with appreciation potential. Questions: Feels like keeping our 1st home gives a secure safety net to potentially fall back on in a worst case scenario, and keeping it could fuel a large retirement opportunity. That said, we are scared of taking on debt, given how conservative we've always been. Would love any and all advice. Thanks! submitted by /u/Standard-Resort-6004 [link] [comments]

  • Moronic Monday - July 15, 2024 - Your Weekly Questions Thread
    by /u/AutoModerator (Financial news and views) on July 15, 2024 at 5:01 am

    This is your safe place for questions on financial careers, homework problems and finance in general. No question in the finance domain is unwelcome. Replies are expected to be constructive and civil. Any questions about your personal finances belong in r/PersonalFinance, and career-seekers are encouraged to also visit r/FinancialCareers. submitted by /u/AutoModerator [link] [comments]

  • Fill the gap to actual Retirement
    by /u/FIprincess (Financial Independence / Retire Early) on July 15, 2024 at 12:52 am

    My husband and I are teachers (43 and 41 respectively) and have savings invested totaling 1.2M. I (we) want the option to retire early. Right now we max out the HSA family, Roth IRAs (14K), employer match with 403b (3K w/match), fund kids' 529 (6K/year), and contribute 12K/year to 457b. These contributions total $42,000/year in savings. Our house has 70K and six or so years left at 2.5%. We have another property at $130,000 with painful 8.5% patiently waiting for interest rates to drop some to unlock that. So here's my question: I'm trying to fill the gap between (soonish) retirement and 59.5). I just realized that we will have PLENTY of money at 59.5 with the Roth IRA, 401K from previous employer, and 403b. Should we start prioritizing funding our 457b(s) since it's the only account we can access (and the HSA) before technical retirement age? For reference we have 800K in Roth, 403b, and 401K. We currently have 263K in our 457b accounts. Also, we both are relatively happy at work so not in a particular rush to retire. But also want the flexibility to pull the plug when necessary. *Edit, we have teacher pensions in Minnesota. They won't be full pensions though. We also have Social Security. submitted by /u/FIprincess [link] [comments]

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