Financial Independence and Legit Side Money Ideas For Techies and Geeks

Legit Side Money Ideas for Techies and Geeks

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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:

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  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!

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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.”


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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.

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Legit Side Money Ideas on Quora

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  • Hit $1M net worth!
    by /u/excellentmissnomer (Financial Independence / Retire Early) on May 26, 2024 at 2:10 am

    My (29F) husband (29M) & I recently hit $1 million net worth. He introduced me to FIRE when we met in college -- after mapping out what we wanted in life (recognizing this could always change), we each ranked financial stability quite high & so switched degrees from English (me) & psychology (him) to finance & computer science, respectively. We live in a MCOL area & have no kiddos so have been able to save fairly aggressively without much in the way of lifestyle constraints. I've been tracking our net worth since May 2019, when I noticed we'd hit ~$100k in assets (~$80k net worth at the time). (The 2017-2018 NW values below are therefore estimates.) Our progression is below. Something I found interesting: If you sum our household income from 2017 to YTD 2024, we've earned $1,399,343 cumulatively, such that our net worth today of ~$1M is ~72% of the gross income we've earned since college. I don't know what our cumulative tax bill over that time horizon has been, but it's neat to me that via the power of investing in low-cost index funds, we've in essence managed to "save" the equivalent of ~100% of our post-tax income over the years. Year 29M Income 29F Income Household Income Net Worth 2017 41,721 5,876 47,597 ~ -40,000? 2018 70,824 39,215 110,039 ~50,000? 2019 91,691 72,736 164,427 152,914 2020 48,434 85,028 133,462 268,412 2021 74,861 130,368 205,229 446,628 2022 131,881 161,332 293,313 548,641 2023 159,237 176,979 327,216 843,980 YTD '24 57,750 44,250 102,000 1,009,087 Some explanation of the above figures: - 2017: Husband graduated college. I made a whole $5,000 working a summer internship. - 2018: I graduated college & started working full-time in June. - 2019: Husband was working towards a master's degree -- given demanding subject matter, he dropped to part time in the back quarter of the year. - 2020: Husband quit his job partway through the year to pursue master's degree full-time. - 2021: Husband graduated with master's degree & started new full-time job in May. - 2022-2023: Both worked full-time. - YTD '24: My compensation entails a significant bonus at year-end so his YTD '24 income is higher than mine. Our NW break-down if of interest: - ~$14k cash - ~$140k taxable brokerage - ~$509k 401ks - ~$133k IRAs - ~$41k HSAs - ~$183k home equity My husband still has ~$11k in student loans -- we paid off anything with a >4% rate & are making minimum payments on the rest. We took $125k out of our taxable brokerage last year to make a down payment on our first home -- we are on an accelerated 13 year amortization schedule (to get a better rate) so have already chunked down a good portion of principal on our loan in addition to home appreciation. Next goal is to replenish that taxable brokerage account (maximizing all tax advantaged retirement accounts first, of course). Socking away ~$1k a week there, and will seek to save my whole bonus at year-end as well. I'd love to be at $1 million "liquid" (without consideration for home equity) this time next year, if we can swing it! I love reading everyone's updates in this community. As others have commented, a million isn't what it used to be, but I find considerable psychological peace in having this foundation in place to hopefully lend us greater freedom & flexibility throughout the rest of our lives. submitted by /u/excellentmissnomer [link] [comments]

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  • The opportunity cost of investing until you reach 100k or saving for a downpayment:
    by /u/TehM0C (Financial Independence / Retire Early) on May 24, 2024 at 6:57 pm

    Hi all, I long wondered what the opportunity cost would be if you choose to save for a 20% down payment opposed to saving for your first $100k. I decided to do an analysis. $100k is likely the first milestone most people strive for. This is a raw analysis and probably does not consider all factors. I've longed believed that every young adult should do anything possible to get 100k invested as soon as possible. The compounding of 100k saved in your 20s will do most of the heavy lifting of compound interest into your 60s. However, I welcome feedback on how I can tweak the calculation to be fully comprehensive. What works for me may not work for you. Personal finance is personal. Your journey will certainly look different than mine and that's okay! For the first part of the analysis I researched the cities with the highest home price-to-income ratios and conversely the cities with the lowest. (Cities included in the highest: LA, San Jose, Long Beach, San Diego, New York, Miami, San Francisco, Oakland, Boston, Seattle, Portland, Denver, Tucson, DC, Austin. Cities with the lowest: Detroit, Cleveland, Memphis, Wichita, Oklahoma City, Baltimore, Tulsa, Indianapolis, Kansas City, Louisville, Philadelphia, Milwaukee, Columbus, Omaha, Chicago). I calculated the ' median home price ' by using these ratios * the median income in these cities. This may not be completely accurate, but I believe this is accurate enough for the sake of this post. For this analysis, the average time to reach 100k in investments in the cities with the highest income-to-home price ratio (assuming 20% savings rate of median household income in city & 8% rate of return) is 5.10 years. The average time to reach a 20% down payment for a home in these same cities is 7.55 years (assuming 3% return & the same 20% savings rate). Assuming you never contribute to your retirement after reaching 100k, you would have on average $1.381m invested at age 60 (if you started investing at age 22). If you decided to wait to invest for 100k AFTER obtaining a 20% down payment, you would have $761k at age 60. On average, the opportunity cost would cost you about 620k. The average time to reach 100k in investments with the lowest income-to-home prices (assuming the same variables as above) is 6.33 years. The average time to reach a down payment in these cities is 3.24 years! Again assuming you never touch your $100k again after reaching it, you will have $1.253m at age 60. If you saved for a down payment first and invested afterward, you would have $968k at age 60. The opportunity cost is much smaller in the cities with an average of 286k. It's no surprise that the 100k will grow less the longer it takes to get there but what do you think about this analysis? There are so many factors missing in this post. For example, home prices increase if you decide to wait. Interest rates increasing/decreasing, rate of return, etc. Let me know your thoughts! submitted by /u/TehM0C [link] [comments]

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    Hey! I have 12k in an old 401k I was looking to rollover into my current company's 401k plan, rather than IRA, due to the backdoor contribution tax thing I read from another sub. I went to request the rollover 401k->401k, and found out it's all roth money. I thought roth money is in roth 401ks, but he clarified that it's a normal 401k with roth money in it. Assuming this effects how I should roll it over. What's the best method now? I currently have a company 401k with fidelity (no roth money), though they offer a roth 401k. I also have a maxxed roth IRA. thank you submitted by /u/AhsokaPegsAnakinsAss [link] [comments]

  • Looking for advice for where I am at financially and where I need to be
    by /u/Detroitsaab (Financial Independence / Retire Early) on May 24, 2024 at 5:11 pm

    I'm 32M (married) living in a average cost of living city (Metro Detroit Area) with about 450k net worth. Annual salary is $114k. Wife makes about 30-40k a year. I also have a sole-prop business which had $60k in sales last year (about 50% profit) that I run out of my basement. Been working in the engineering field since 2015 starting around $80k salary and moving my way up since then. Currently in a indefinite contract position with limited benefits and currently looking to move to a direct hire (preferably at a automotive OEM) to gain much better benefits. My goal with this post is any feedback or suggestions to improve my situation. My current numbers are as follows: • $7.5k Roth IRA • $184k 401k • $12.5k HSA • $3k stocks • $21k in savings • House is a unique situation, use to be owned by my grandparents, transferred to my mother and am privately purchasing from her making monthly payments. • House valued around 330k • Owe her still around 130k on it at 0% interest, $1200 monthly payments • Business is a toy resale business has an inventory cost of $115k • Own 3 cars total (2 paid off, one owes $5k) I'm trying to figure out my next steps to improving. I currently deposit 10% of my salary to my 401k, I will randomly contribute to my Roth IRA and deposit $220 a week into my HSA. I invest most of my time into my business along with a large percentage of my disposable income. My hobby also aligns with my business and also includes my 3rd car as an automotive enthusiast. We do eat out a lot which hits my monthly income but am working on reducing that spending. Monthly take home from paycheck is about 6k a month and I would say about 5k is expenses. My thoughts has been to continue to invest in my business as it is growing (60k in sales last year, probably going to be around 70-80k this year but is hard to tell) as well as invest more into some ETF’s through my stocks (Robinhood) as I am seeing decent growth over the last year or two. For the house we are comfortable in it but may want to build a barndo eventually further out of the city, which will be a huge expense but would be our forever home. My long term goals are to retire from my engineering career hopefully in the next 10-15 years (or sooner) after my business grows enough to support my family. I have a fear that I might not be far enough along at 32yo where I currently am at. Any other ideas on where I should put my money or anything specific I should be doing to improve my situation or if I might be a bit behind or anything of that nature? submitted by /u/Detroitsaab [link] [comments]

  • What's a good tax planning strategy for FIRE w/ spouse still working?
    by /u/CP_615 (Financial Independence / Retire Early) on May 24, 2024 at 4:39 pm

    Hi Everyone, should I change any of my contributions for future tax planning? My goal is to FIRE at 48 but my wife will likely still be working with moderate salary ($65k/year). I'm only contributing to my 401k at the moment and my loose plan is to do Roth conversions when I FIRE. Between my wife's income, selling my employers stock when I leave, and Roth conversions, it looks like that could be a high taxable income. Would it be best to max out my Roth IRA contributions and then put the remainder to 401k? Other ideas? My employer also offers Roth 401k. I am 32m, married, no kids. Combined Gross Income $140k. Current Expenses: $40k (just me, not combined) Current Investments: Traditional IRA: $15k (rollover from previous employer) Roth IRA: $67k HSA: $2k (I no longer qualify to contribute) 401k: $81k Employer Stock: $8k By age 48, given current contributions and 7% gains, I’m projecting assets to be: Traditional IRA: $41k Roth IRA: $185k HSA: $6k 401k: $959k Employer Stock: $227k (this is a rough guess) Estimated Net Worth = $1.4M I’m loosely planning for $50k post-FI annual expenses @ 3.5% SWR. submitted by /u/CP_615 [link] [comments]

  • My Second Major Update: Nearly 10 years in, and my, how things can change!
    by /u/NewJobPFThrowaway (Financial Independence / Retire Early) on May 24, 2024 at 2:23 pm

    I realized earlier this month that my Reddit account is now 10 years old, which means that I've been on my FI journey for about 10 years now, as this account's creation was somewhat inspired by the start of a new job and the financial questions that arose from finally making enough money to start seriously thinking about early retirement. My last update post was about five years ago, so it felt reasonable to make another. Especially so, since things have changed so much since the last one. Put shortly, I've fallen victim to lifestyle inflation. I'd phrase it moreso that I'm "Building the life that I want", and realizing that life includes far more travel and more expensive experiences and things than I'd expected I'd wanted earlier in my life. However, many of my priorities have not changed. Travel and gifting have stayed at the top of my list of discretionary expenses, and while my income has somewhat stagnated and my savings rate dropped, I've still ensured that I'm at least able to max out all of my tax-advantaged savings avenues. Another thing that I'll mention is that my partner, who I referenced in my two previous posts, is no longer in the picture, so the numbers described in this post are mine alone. We amicably divorced during the height of the COVID pandemic - a period of time that was incredibly difficult for both of us, made doubly so by how difficult it was to safely spend time with friends and family, all of whom were incredibly important support structures for us. Fortunately for both of us, the financial impacts of the divorce (both then and now) were kept to a bare minimum. Category 2014 Value 2019 Value 2024 Value Income $110,000 $225,000 $265,000 Expenses $50,000 $66,000 $90,000+ FI Target $1.5 mil $2.0 mil ¯\_(ツ)_/¯ ($2.5 mil, give or take?) FI Savings $20,000 $750,000 $1.4 mil Examples of my Retirement Spreadsheets Net Worth and Invested Savings Graphs Income The income numbers provided are inclusive of salary/bonus/stock grants, but because of the variability of bonus/stock values, they are more of an estimate than an exact number. My income has risen over the past five years, but compared to inflation, it has barely moved at all. As I described in my previous post, I've reached a plateau in my career and am rather comfortable with my income staying flat against inflation. Expenses In the past five years, I've purchased and moved into my dream home, and spent far more on travel and other experiences than I had ever expected I would. The only categories where spending has dropped are "stuff" related - possessions, consumables, groceries. This is due to both me already owning everything I want to own (almost), as well as me prioritizing the things that are important to me (experiences) over possessions. Also, when I eat at home, I eat cheap. A few of these categories are suffixed with "ish" - I don't really keep a strict budget or a strict eye on my spending anymore, so these are largely estimates. The last thing I'll mention here is the category called "Gifting". I'm not doing a great job of defining this clearly right now. This is largely due to laziness and a lower motivation towards tracking this all, but is also partially due to the variability of it. Many of these are one-off items - I gave one friend a car, I paid off another's debt, etc. Some of them are more fixed: I contribute to 529s for some of my younger relatives. This category is rather large and nebulous right now, but I expect it to become better-defined as I get closer to retirement. This category isn't included in my "expenses" above (aside from being the "+"), and is largely why I haven't set a fixed FI Target yet. I had one year where the gifting number had exceeded $60k, but on average, it's probably closer to about $2-3k/month. This is a category that I expect will shrink considerably once I do retire, but I'd love to be fortunate enough to continue this somewhat. Category 2019 Value 2024 Value Mortgage $1770 $3100 Utilities $800 $800 Vehicles $350 $400 Hobbies $400 $500ish Experiences $--- $600ish Stuff $1400 $800ish Travel $700 $1200ish Gifting $--- ¯\_(ツ)_/¯ (a lot) FI Savings About half of the growth over the past five years has been a result of market movements, and the other half from new investments. My income hasn't really increased, but my spending has - I am now saving very little beyond my tax-advantaged buckets: 401k/BDR/MBDR/HSA makes up about $80,000 in savings each year, and that's largely the bulk of what I reliably save every year. There's another $20k or so each year that ends up in various accounts (brokerage/stock/bank) that I've been rather lazy with tracking. You may ask yourself why my investments don't appear to be doing as well over the last five years as they should've, given the market. Well, part of that is because of the new house (which required me to cash out much of my invested stock), and part of it is just dumb bad luck. Take a look at my Invested net worth graph at the end of 2020. During the roughly 3-month period where I had a large sum of money out of the market from selling off my old house and making the down payment on the new one, look at how much my 401k and IRA (which were untouched) grew! Holding that $250k or so in cash for that short period cost me over $25k in lost gains, which would've compounded over the last four years. Furthermore, you can see from the full net worth graph that a larger percentage of my net worth was tied up in my home equity in 2021 than in 2020. I don't count my home equity as part of my FI savings, so moving cash from investments into a mortgage caused a drop in my overall FI savings. Mental Health This is a section I'm adding, because well, to be honest, nearly every challenge I've encountered in the past five years has been largely due to my own mental health struggles. I'd rate my mental health "pretty good, all things considered" right now, but that's still nowhere near optimal. I frequently think of the dimensions of my mental health in the following measures: Mood, Stress, Focus, and Gratitude. These are all interconnected in many ways, but they tend to be the largest drivers of my overall well-being as well as that of my relationships, both personal and occupational. I feel the categories are rather self-explanatory with the exception of "Gratitude". This measure describes my outlook toward the people and world around me. A low measure here would be "feeling like a Grinch/Scrooge" and a high measure would be "feeling like Tiny Tim/Cindy Lou Who". I've included this section because I think it's incredibly relevant - if I don't like my life, odds are that retiring isn't going to improve things much (though it will likely improve my stress considerably, I don't expect the other values to really change. In fact, it's possible I'll end up losing both focus and gratitude if I don't have something challenging to put my mind to!) I'm rating each category 0 through 10, where 0 is where I'm unable to function and need to do something about it, and 10 is effectively an asymptotically unachievable ideal. For any of these, 5 is what I consider "normal", which is likely only a valid measure for me specifically. My "5" for stress might be someone else's regular Monday, while their "5" for stress might leave me near a nervous breakdown. For these, I would consider my mental health "good" if all of these are around a 6, but higher is always better (and lower is always worse). Mood Rating: 4/10 and somewhat stagnant Stress Rating: 6/10 but dropping Focus Rating: 5/10 and hopefully(?) rising Gratitude Rating: 7.5/10 Obviously the big callout here is low mood, and it has been this way for a month or two now. My medication has felt less effective over the past few months and it's time for a change, but my doctor's office has been slammed lately and can't get me in for an appointment until July (I set the appointment a month ago!) Also worth noting, I've noticed that with work, my focus and stress tend to move opposite each other - as I get more stressed (as say, a deadline approaches), I get better at buckling down and focusing on the project. FI Plan More of the same, mostly. Not too much has changed here. My funds have tended to accumulate in tax-advantaged, because I haven't allowed myself to touch those, while I've allowed myself to raid my stock and brokerage accounts more often than I should've. Looking forward, I think my next few goals are to look towards rebuilding these, as they'll be necessary for some of my early withdrawals in retirement. It's also worth noting that while I said earlier that I currently live in my "dream house", it's entirely possible I may end up moving to a lower cost of living area (I already live in what I'd consider low-medium COL), or may end up renting this house out as I backpack across Asia, or something similar. But, what seems more likely is that I'll keep this house, figure out my actual plans for gifting, and fix a FI target number somewhere in the upper $2M, which will hopefully allow me to retire in my mid-40s. After all, I've had "mid-40s FI Target" in my flair for quite a while now. Though, come to think of that - it really should say "RE Target". Fixed. Goals (short-and-long-term) Hit my annual target of $100k added to investments by September Get my Advanced Open Water Diver certification in 2024 Travel across Northern Europe with family in 2025 Get my weight back into the "normal" range for my height (I gained 40 pounds in 2022 and haven't been able to shake it off) Watch a sunrise or sunset from the top of a mountain (definition of mountain is flexible) Start or join a club for a hobby (either a hobby I already practice or a new one - specifically a club that meets ~weekly, to expand my social circle) Conclusion Anyone have anything to add? I know I've written a lot. I've tried to use feedback from my previous posts to improve this one, and will continue to use your feedback to improve my next one. Odds are I'll still be around the Daily Discussion, but likely won't be posting another major update for another five years, by which point I'll hopefully be very close to my RE date! submitted by /u/NewJobPFThrowaway [link] [comments]

  • Actual FAFSA financial aid results for a FIRE'd household (2024 edition)
    by /u/Zphr (Financial Independence / Retire Early) on May 24, 2024 at 1:25 pm

    TL,DR: The new FAFSA implementation under the FAFSA Simplification Act was a total shitshow due to government incompetence and other factors, but the actual formulas and process eventually worked out as I anticipated based on my reading of the law. Our second eldest got maximum aid awards from all FAFSA schools and our eldest will get another year of maximum aid from the school he is already attending. The new AGI-FPL test worked as the law said it would, which reduced the FAFSA to some basic demographic entries and a handful of financial questions about our 1040. Having an AGI lower than 175% FPL on our tax return yielded an SAI of -1,500, an automatic maximum aid award, and the removal of all income and asset questions from the form. The entire FAFSA process took just a few minutes total and required no prep or documentation on my part. This is a second-year update to my post last year on our experience with FAFSA as a FIRE'd household. If you want to know more detail about our overall finances, our funding plans for college, the morality/politics/legality of FIRE folks using FAFSA, or anything beyond just the straight-up numbers or application experience, then please look at last year's FAFSA posts (links at bottom of this post for the lazy) in my account profile. I included a lot more information/commentary in those posts and there was plenty of good debate/explanation in the comments. I put up variants last year in the three different FI subs I primarily inhabit and the commentary for each was varied and might be of interest. We can obviously talk about these topics in the comments here too, but I wanted to keep this actual post tighter since it's just an update and a lot of those conversations already happened in detail with last year's threads and are unchanged one year later. Although the FAFSA itself has had many highly publicized problems this year our experience was uneventful, minus the months of unexpected delays as they fixed broken production systems so that they could actually process all of the applications. Our natural AGI is under the 175% FPL line established by the FAFSA Simplification Act for maximum Pell Grant awards, so once I finished what little information the application wanted the site automatically assigned maximum aid to our kids, gave them an SAI of -1,500, and terminated without asking or allowing for any income or asset questions/verification. It seems that FAFSA now does the direct pull of financial data from the IRS in the moments before opening the questions to you, so the whole process took around three minutes from start to finish and was mostly a dozen or so demographic questions, most of which were simple things like marriage status, state of residency, and such. There was a single page with a handful of simple questions about possible modifications to our 1040 data, like TIRA rollovers, but none of those applied to us. This highly abbreviated process was pretty much exactly what the law suggests should happen, though I expected there to at least be the option to enter in detailed financial data on a voluntary basis. However, those sections were not made available to us as being under the AGI-FPL line skips the vast majority of the full FAFSA application. In terms of actual aid awards, our daughter ended up being really interested in only three schools, all of which are public universities in our state of Texas that rely exclusively on FAFSA for aid determination. Results for all of them were fairly similar overall, except for institutional grants/waivers, as might be expected given that they are all in-state public schools. Federal Pell grant - $7,395, maximum federal eligibility Texas state TEXAS (it's an acronym) grant - $5,000 to $6,500 University institutional grants/waivers - $6,000 to $14,000 Federal workstudy - Up to $5,000, maximum federal eligibility, optional. Federal subsidized loans - Up to $3,500, maximum federal eligibility, optional. Federal unsubsidized loans - Up to $2,000, maximum federal eligibility, optional. Merit scholarships/grants - Variable, not listing these since they aren't FAFSA-driven. Cost of attendance at all three schools is somewhat similar, with tuition/fees ranging from $11,000 to $14,000 and additional costs (room/board/personal/insurance/transportation) ranging from $14,000 to $20,000, depending largely on housing and food choices. Around $6,000 of the additional costs are for non-school items like health insurance, personal spending, transportation, supplies/tech, and so forth. We are covering most/all of those for her by simply continuing/reallocating the normal spending we already do for her as a household member, so paying those costs will not cause any change in our routine withdrawals/spending. The net result for our daughter was effectively a full ride at all three schools, inclusive in some variants of some moderate use of workstudy or loans, owing to things like different housing and food options. The ultimate result is that our being FIRE'd did not interfere with our kids being able to go to very nice colleges for minimal cost/free due to the way financial aid law works in the US. This results primarily from our spending being naturally low and under the 175% AGI/FPL line. We do not manage our AGI, with all dollars we spend/withdraw adding to our AGI, and a FAFSA is required for high school graduation in Texas, as well as being required for many/most merit scholarships. Although the process was different and simpler this year, the result is effectively the same as we had last year when the old FAFSA rules were in place without the AGI/FPL rule. For people with modest AGIs, natural or engineered, the FAFSA works similarly to how the ACA works, with lean and lightly regular spenders getting subsidies large enough to cover the entire cost in many cases. Unless folks live in a state that doesn't require FAFSA for high school graduation and want to deny their kids the ability to compete for merit scholarships, then these are the sort of results that many FIRE'd households will likely be looking at, particularly given how many people plan on managing AGI for tax optimization (both normal income tax and ACA tax subsidies). 2023 FAFSA post links: https://reddit.com/r/financialindependence/comments/11m3r2n/actual_2023_fafsa_financial_aid_results_from_a/ https://reddit.com/r/Fire/comments/11m3s83/actual_2023_fafsa_financial_aid_results_from_a/ https://reddit.com/r/leanfire/comments/11m3sui/actual_2023_fafsa_financial_aid_results_from_a/ submitted by /u/Zphr [link] [comments]

  • Daily FI discussion thread - Friday, May 24, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on May 24, 2024 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Using margin to deal with sequence of return risk
    by /u/Basic-Arachnid9233 (Financial Independence / Retire Early) on May 24, 2024 at 6:49 am

    Hi everyone, I was wondering whether there were any resources to discuss using margin to deal with sequence of return risk? Given how important the first 10 years of early retirement are in long term performance, to me it seems like the following idea might have merit. IE if there is a downturn some time during first 10 years of retirement, borrow margin against portfolio so not to deplete capital, and then once markets return to expected levels you sell the capital back. Given rates would be lower during market downturn, it would be cheaper although one would still have to reduce living expenses adjusted for costs of the margin. It seems like paying the 2-5% is more worthwhile rather than selling if the market is down a certain X% for the moment of the downturn. No margin call risk due to only doing it at the beginning of the life of the portfolio and small amounts relative to portfolio. Does this make any sense? submitted by /u/Basic-Arachnid9233 [link] [comments]

  • Part of portfolio, higher than 4% rule rate
    by /u/Indy2022MidAmer (Financial Independence / Retire Early) on May 23, 2024 at 5:26 pm

    Got three streams of income, 2 apartment building that cash flow 7k each, fully funded cap ex for both properties. Selling another property that will net us around 1mm after taxes. In my mid 50s and want to do a "staggered" safe withdrawal from that 1mm, 6% for the first 10 years, 4% for the next, then 3% for the rest of my life. Figure between the cashflow from my rentals and those accelerated withdrawals could enjoy that money more in my "go-go" years and the the lower rates in my "slow-go////no-go". Burn rate around 10k a month now. Am I being to aggressive with the early withdrawal rate? submitted by /u/Indy2022MidAmer [link] [comments]

  • Tips for helping family plan for retirement
    by /u/AffectionateBench663 (Financial Independence / Retire Early) on May 23, 2024 at 4:38 pm

    For starters, this is not unsolicited advice. My mother is in her late 50s and wants help with retirement planning as she nears retirement age. Father passed away so plans only include her. She lives in a LCOL area and will have her house paid off in the next 10 years. Car is already paid for and has somewhere between 5-10k in cc debt. She lives a simple life with earnings I assume to be in the 50k range. She has been good over the years about contributing up to company match for 401k but was paycheck to paycheck beyond that and has no savings outside of 401k. I haven’t seen her account yet to run the numbers but we looked at it years ago when my father passed and I believe she would land in the 450k range at retirement age. I’ll obviously need to get a new pulse check on this. High level bullets 450k 401k at 4% SWR - 18k/yr SS benefit (a space I know little about as I’m 32 and don’t factor it into my long term plan at this time). I assume 1500-2000/mon based on estimates from SS website. Total monthly income - about 3k net. This paints a bleak picture in my opinion. Has anyone had experience with these types of hard conversations with family/parents? What advice would you give to her? Hard to be completely objective with this one What other questions should I be asking her. My judgement is very clouded as I feel obligated to help based on my own financial situation. submitted by /u/AffectionateBench663 [link] [comments]

  • Adding Small-cap for a higher WR
    by /u/aspiringFI_throwaway (Financial Independence / Retire Early) on May 23, 2024 at 9:57 am

    I'm reading again the 2014 Kitces report and I see in page 6 that having 30% small-cap to the portfolio increases the WR in 0.2 points (i.e. a 5% lifetime increase in expenses). Any thoughts? I see no reason to not include this in the portfolio if the objective is to increase WR (not returns). My only concern is that 30% seems a bit too much, but I guess adding any amount of small caps will improve WR. Edit: Related to this, Bogleheads wiki provides suggestions on how to replicate the total market, including low caps. The suggestions are 5% to 9%, far from the 30% suggested by Kitces. So What Kitces suggests is that having a portfolio overweight in small-cap increases the WR. submitted by /u/aspiringFI_throwaway [link] [comments]

  • Daily FI discussion thread - Thursday, May 23, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on May 23, 2024 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Early 30s and Finally hit 1 million
    by /u/Humble_Recover9974 (Financial Independence / Retire Early) on May 22, 2024 at 11:12 pm

    Recently my wife and I, both in our early 30's, hit a Net Worth of over $1M. Which we celebrated in true FIRE fashion by making ourselves a cake and enjoying it together! This has been a long road of consistent "mini sacrifices", due diligence, and a penny pinching mind set. Most of the accumulation years our household income was around 60-80k as we worked in the public and non-profit sectors. In the last couple of years we moved to private sector roles which helped increase salaries. We currently live in an area where the cost of living is 2% lower than the national average. We also do not own a home or have kids which allows us to enjoy a flexible lifestyle. Profession Comp - $200k gross Net Worth Breakdown: 401k: $186k Roth IRAs: $120k Trad IRAs: $270k HSA: $7k Taxable Brokerage: $433k Cash: $3k HYSA: $181k - 5% Debt: $0k No real estate - Rent Net worth: $1.2M Our overall goal is to support a $70k a year lifestyle and by using ProjectionLab, that looks to be doable in the next 4-5 years. Our thought with a large amount in HYSA is we could either look at attaining a home through an Assumable mortgage, buy a large amount of property, or simply hedge against a downturn. A year ago I hit the burn out stage and although hitting a major milestone is great the excitement was quick to fade. Lately, our discussions have been around how can we enjoy our "younger" years now that we have a very solid financial cushion. Whether this be taking a gap year to travel, career opportunities abroad, or moving to higher COL area that has better outdoor amenities (PNW, Denver, etc.) Although I'm not sure what the future holds I'm thankful that I learned about this community in my 20s! submitted by /u/Humble_Recover9974 [link] [comments]

  • Is 2.5 mil truly all you need to live off 100k a year from age 35 and on still?
    by /u/waxheartzZz (Financial Independence / Retire Early) on May 22, 2024 at 7:04 pm

    Hey all, I just want to say you all are very kind for opining on these questions. I am in the realm of pulling the trigger and retiring, and I am just getting nervous on whether my numbers are all valid given all the inflation we have seen. I want to retire and be a full time philanthropist and pick up trash and be a philosopher for free. I spend 100k a year at the very max. Only hit this one year when I was renovating a house. I own my home outright worth 1mil. Mid cost of living Big sale event happening in a month, which I will reallocate 3 mil into VTI. I have maybe 500k other assets that will be liquidated later. I also set money aside to get the parents a house each. Every single calculator claims I will have significantly more when I die than now, since my compounding and returns exceed my spending by a lot (assuming 7% inflation adjusted). submitted by /u/waxheartzZz [link] [comments]

  • New FIRE Plan
    by /u/Letmelogin1 (Financial Independence / Retire Early) on May 22, 2024 at 12:48 pm

    Hello all. Long time viewer of the FIRE subreddit. I am a recently separated Air Force veteran of 10 years. I was never a high earner and separated as a E-6 TSgt. Over this period I did what I could to invest in TSP and my IRA to one day achieve FIRE, leaving the military with about $300k in investments. I have submitted my VA claim and suprisingly this came back as 100% P&T. This is an absolute game changer that I did not factor into my FIRE plans. The VA will be paying me almost $4k a month, free healthcare for me and my family, college benefits for all of us, no property taxes, and many more smaller benefits. This takes me to the new plan that I am developing. I believe we can live comfortable off of the VA pension even with a mortgage payment. I would like to find work and buy a house with the VA loan now that we are settled into one location. With the new job I would like to max out their 401k and my IRA (Around $30k) and use the rest to pay off the house. Knowing that I have a paid off house on top of the pension would make me feel more secure. I believe the best way to do this would be to make minimum payments on the house while putting the rest of my income into VTSAX until it has enough to total the house. From there I would make payments with the interest to aggressively pay off the loan. Maybe from there I could look into getting a rental with this new income from VTSAX. I like the idea of having a rental to keep me busy because I am a spreadsheet kind of guy that would love to have a side project to tinker with in retirement. Please tell me if this is a crazy idea or if you have found a better strategy. submitted by /u/Letmelogin1 [link] [comments]

  • Weekly Self-Promotion Thread - Wednesday, May 22, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on May 22, 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, May 22, 2024
    by /u/AutoModerator (Financial Independence / Retire Early) on May 22, 2024 at 9:02 am

    Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply! Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked. Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts. submitted by /u/AutoModerator [link] [comments]

  • Approaching retirement - looking for suggestions
    by /u/FJacket85 (Financial Independence / Retire Early) on May 22, 2024 at 2:50 am

    I'm approaching retirement and while I have what I think is a decent setup at this point, I never consider myself the smartest guy in the room and would enjoy receiving any suggestions you all may have. Currently active duty military (E8 with ~4 years left) set to retire around 42 right at 20 years of service: Ball parking my pension+disability to be conservatively around 6.5k per month. Spouse has a 2.5k monthly pension. TSP Roth 401K: 152K all in C fund with 23% allotted until I retire (depositing $1,400 monthly) Robinhood 42k worth of BTC (I know RH sucks.... spent 10k on BTC awhile back and have just left it there) Savings 160k - no idea what to do with this right now. Have a house with a renter in it. Monthly mortgage 1.1K, rent is 2.3k. 175k left on that house (2.25% apr), equity in the house is approx 175K. Living in base housing now because California be crazy. What would you do to maximize this situation to never have to work again in 4 years? submitted by /u/FJacket85 [link] [comments]

  • For those who have fired your financial advisor. How did you go about it?
    by /u/Sufficient-Flan6318 (Financial Independence / Retire Early) on May 21, 2024 at 9:00 pm

    I don't know why, but I have a lot of anxiety about firing my financial advisor. I haven't talked to him in over a year and he doesn't really manage much anymore. I already manage most of it. I've been meaning to make the call and keep putting it off. I'd like to hear from those who have fired their financial advisor, how it went, what you said, and any advice. Especially from those who experienced the same anxiety. Thanks! submitted by /u/Sufficient-Flan6318 [link] [comments]

  • Sequence of Return and FIRE
    by /u/sick_economics (Financial Independence / Retire Early) on May 21, 2024 at 12:18 pm

    I went full FIRE 3 1/2 years ago at the age of 43. Just checked up on my investments and by a combination of good luck and maybe a little bit of skill, I actually have more money now than when I retired 3 and 1/2 years ago, even though I've been living off that money for 3 1/2 years. Does this mean that I'm out of the woods in terms of "Sequence of Return Risk?" At what point in a retirement journey is sequence of return risk no longer something to be concerned about? submitted by /u/sick_economics [link] [comments]

  • Hit $900K on 5/17.
    by /u/sly_cheshire (Financial Independence / Retire Early) on May 21, 2024 at 5:05 am

    At market close on Friday, 5/17 I hit $900,784 in my 403B, which is my ATH. It's been my goal for over a year to reach this point and here's why. I left my teaching career after 26 years last June, at 55 years old. I first started DCA'ing soon after I started teaching at 29 years old. I didn't know what DCA meant, I didn't really know what a 403B was, but I knew that it reduced my taxes so I thought "Hey, why not?" My private school employer put 5% of my annual salary into my 403B as well, which I thought was pretty cool back in 1997. (It was my first "serious" job so this was all new to me.) I can't remember what funds I chose or how much I invested each month, but I vaguely remember it was around 10% of my salary. As the years went on I slowly increased it to 15% and then up to 20% of my salary. My wife earned more than I did as a graphic designer but she didn't invest much other than what her employer put in for her. Through the years I would periodically check the 403B and noticed that funds had different returns, so I started choosing the funds that had the greatest returns over inception. (I know, I know...not the smartest strategy, but I didn't know any better. No one taught me anything and I never went online to research.) Then Covid happened...2020. I was still teaching but I was the technology teacher so I didn't have the crazy Zoom remote teaching schedule that classroom teachers had, which gave me some spare time to research and dork around on the Internet. I started paying more attention to my 403B and noticed that I had more control than I originally thought over my funds. Since we weren't going out during Covid, I upped my percentage to 40% of my paycheck. At the time (after *21* years or so of teaching, I was making about $85K per year (I know...that's below some of your starting salary in other careers!). I had turned 50 and realized I could max out my 403B with an additional $$$$ annually, so I took full advantage. My wife wasn't maxing her 401K and she didn't know how much I was putting in mine. On 5/30/2021 I had $688K and on 4/3/22 I had $717K. When I left teaching in 6/23 I was around upper 70's/low 80's. After June I was no longer contributing. In September I withdrew about $8K penalty free using Rule of 55. Then I didn't touch it after that. In early 2024 I re-evaluated the funds and reduced the number I was invested in. I have positions in about six funds, listed below, whereas before I had positions in about 10-12. I've been checking the balance about once a week as it got closer to 900K and so finally on Friday, I reached it! After 27 years! I've never made more than 90K annual salary! I looked back at the returns on the funds I was invested in and most of them were way over 30% annually in the past few years, so I know that really helped me out. (MADVX, JLGMX, VMGMX, VSIAX, RERGX, VINIX) I have different percentages in each. I'm currently working a temporary position at the school, with much less stress, but plan on getting a full-time job in another field, although I don't know what. This year has been a learning experience. In addition, my wife and I have about $450K in other accounts - Roth, Traditional, HSA, crypto and 700K equity in our house. I hope we can both fully retire within the next 5-10 years, however our kid has three more years of private high school, then college (50K in a college fund). I wanted to share this because I feel that it was almost dumb luck that I had the foresight to put money in my 403 27 years ago before I really understood what that meant. It's not timing the market, but time in the market. I only wish that we had started putting money in my wife's 401 much sooner. We're currently maxing hers out. We're both in our 50's and she earns about $110K a year. We live in a VHCOL city but fortunately we were able to buy a house 26 years ago. We added on to our house and re-fied a few times and our current rate is 2.75% with about 12 years left on our mortgage. Not a week goes by that I don't thank the stars that we bought a house when we did. If you made it this far, thanks for reading and good luck to you all. submitted by /u/sly_cheshire [link] [comments]

  • 9.5 years from flat broke to $1M!
    by /u/ATT1LAtheHUNgry (Financial Independence / Retire Early) on May 21, 2024 at 5:03 am

    Today my (36M) and spouse's (37F) Net Worth hit $1M for the first time. Almost 10 years ago, in January of 2015, I had $800 dollars to my name, ~$40K of school debt, a brand new Master's Degree, and an offer letter from my first "big-boy" job in my chosen field. 9.5 years later and although I definitely made a few financial missteps along the way, I've overall been very fortunate. I just wanted to share it here since there's no one I can tell in my real life besides my wife. Profession: Engineering (Comp - Me $210K - Wife $40K) Net Worth Breakdown: • 401k: $260K • Roth IRAs: $43K • HSA: $13K • Taxable Brokerage: $665K • Cash: $82K • Debt: $63K • No real estate (yet) • Net worth: $1M This was a nice milestone in what has otherwise very much felt like the definition of the "boring middle". Wife and I went out for a nice sushi lunch to celebrate. 🙂 submitted by /u/ATT1LAtheHUNgry [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]


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List of Freely available programming books - What is the single most influential book every Programmers should read



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Top 1000 Canada Quiz and trivia: CANADA CITIZENSHIP TEST- HISTORY - GEOGRAPHY - GOVERNMENT- CULTURE - PEOPLE - LANGUAGES - TRAVEL - WILDLIFE - HOCKEY - TOURISM - SCENERIES - ARTS - DATA VISUALIZATION
zCanadian Quiz and Trivia, Canadian History, Citizenship Test, Geography, Wildlife, Secenries, Banff, Tourism

Top 1000 Africa Quiz and trivia: HISTORY - GEOGRAPHY - WILDLIFE - CULTURE - PEOPLE - LANGUAGES - TRAVEL - TOURISM - SCENERIES - ARTS - DATA VISUALIZATION
Africa Quiz, Africa Trivia, Quiz, African History, Geography, Wildlife, Culture

Exploring the Pros and Cons of Visiting All Provinces and Territories in Canada.
Exploring the Pros and Cons of Visiting All Provinces and Territories in Canada

Exploring the Advantages and Disadvantages of Visiting All 50 States in the USA
Exploring the Advantages and Disadvantages of Visiting All 50 States in the USA


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