Tag: Web scrapping

With today's paycheck, my net worth just became positive for the first time as an adult at $3560. Two years ago, it was about -$100k. Here are the details: I have a remote job, so I travel/move a lot (hence the fluctuating rent and travel costs) Age 37. I was in school for a total of 12 years (working 1-2 years between each of my 3 degrees) and have a bachelor's, masters, and PhD. So I got a pretty late start to this. Never invested anything before 2021, although an employer contributed a few thousand to a 401k during a job in my 20s, which I converted to a Roth around 2020 when my income was very low. Income: $126,750 (as of October 2023. It was $93k in 2022 and $88k in 2021. Before that, I was in grad school taking out debt or working just enough to meet expenses and budgeting very poorly) Remaining Debts Today Student debt: $74,727 Car loan: $7,188 Current Investments Roth IRA $50k 401k $18,800 HSA $6,150 HYSA $6,400 Current Investing Strategy: Starting maxing out 401k in Jan 2024 (last year, contributed ~$4k) Maxing out Roth IRA 2022-25 Maxing out HSA 2023-24 Financial Situation back in Jan 2022, when the FI journey began: $14,300 investments (mostly in Roth IRA, $700 in HYSA) $124k debt $6,420 credit card debt (due to bad financial management during grad school) $15k auto loan $88,203 $14,530 debts owed to family members for a vanlife project I was so broke that I counted the value of my laptop and road bike in calculating my net worth that month! What I did / am doing Read about 5 books about personal finance and investing 2020-2023 Sold the vanlife van moneypit and paid off family debts and used the rest to pay credit card debts and start my Roth IRA investing Stopped using credit cards/ spending money I didn't have Made a budget and (mostly) stuck to it -- definitely not perfectly. I keep monthly costs low and sometimes splurge on ski lift tickets and travel to do mountaineering objectives. I'm not perfectly disciplined. Paid off the high interest credit card debt as aggressively as possible Got a roommate in the HCOL city where my job was to save on rent Lived in friend's a austere converted bus with no running water to reduce rent to $0 for 5 months. Traded favors and house watching for the privilege. Spent half that savings on trips, used the other half to achieve financial goals...again, I'm not perfect. Did a 401k --> Roth conversion the years I had lower income when contracts switched and my 401k company changed. I currently live on between $23-30% of my salary (depending on rent and travel costs) and the rest goes to investments and debts Currently doing the Ramsy debt snowball method to pay off my car loan loan and the small private student debt portion of my student loans (most are fed). This has the added benefit of lowering my monthly expenses by $363 in case I lose my job for some reason. Once I pay off those two debts, I will pay $2,500 - $3700 per month (depending on rent costs) on my federal student loans On schedule to be debt-free by ~July 2028 while continuing to max out my 401k, Roth, and HSA the whole time In July 2028, I will have an extra $30k to save per year (assuming no increase in salary; although I expect salary to increase), which I plan to use to save for rental property/ house hacking and, when it's critical, get a newer used car (~$18k) that's better for my mountain lifestyle) Once I have 1 rental property cash flowing, give myself a small standard of living raise Retire in 15 years (or more likely, reduce to half time and focus on passion projects/ side hustles that are more interesting to me), letting investments grow and working here and there to cover living expenses. I am not perfect with my budget, but I set rigorous enough goals and keep close enough to them while splurging here and there ($1,500 for rock climbing equipment; $1,000 for an alps mountaineering trip; $1,200 for ski touring gear; $1,300 for IKON ski pass). I cook at home a lot. I always buy my mountaineering gear at least 35% discounted/used. I never pay full price for clothes, finding eBay deals. I sell gear I don't need anymore instead of letting it sit. I have so few physical possessions that nearly all of them fit in/on my car. I spend "unneccesary" money on experiences (or gear that facilitates them) rather than things or impulses. I could do better to achieve FI earlier, but overall I'm happy with the compromises I've made since starting this journey in 2022. submitted by /u/timeWithin [link] [comments]

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We just sold our house where we will have roughly $670k. We’ve had a great year financially we’re we’ve already contributed over $100k to investment accounts (401ks, MBDR’s, IRA’s) What’s the better move here, buy our next home cash (we’re moving to more affordable area), or take out mortgage and throw the rest into the market? We want to retire as early as possible, currently 37 with about $480k in our investment accounts and roughly $70k in HYSA (plus the ~$670kish from the sale of our home soon). No debt besides my car with about $15k left on it. submitted by /u/Tiny_Cup_6268 [link] [comments]

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Background: 44M, single, no kids make about 137k at my day job. My investment totals are: 401k: $305k IRA: $737k Roth IRA: $313k HSA: $135k Taxable: $123k Savings: $53k Checking $7k I have 100% equity(paid off) in a townhouse valued around $250k. I rent this townhouse out and rent a single bedroom for $650 a month that is close to my place of employment. I have no other debts. I drive a paid off car. My living expenses aside from the $650 rent is $800 for food/eating out/cell plan/gas/disposable income. I net $1525 per week after I contribute 9% into a Roth 401k. So I bank the rest into my taxable acct and savings. There is a foreclosure auction on a 841 square foot house(3 BDR 1 bath) that’s in a good location that’s is appraised at $330k. The set back of the house is not desirable as it’s only 15 ft from the sidewalk. The land that the house sits on is 50ft by 300ft. The house sits on the front edge of the 50ft and the majority of the lot has not been cleared and developed for a yard. The house on one side is nearly 500k and the house on the other side is about 700k. Both are bigger house though. I did some research and it seems like the person that lived there owed $285k total and couldn’t make the payments. I’m assuming that $285k will be the starting bid. The foreclosure auction requires $33k deposit to bid in the auction. I heard horror stories about previous owner not wanting to move out. This place seems vacant and the grass and everything is over grown. I want to bid in this auction up around $350k. I can easily come up with the deposit and cash if I take an equity loan from my townhouse(at around 6.5%) and sell my investments in my taxable(I know I’ll be hit with the capital gains tax). The upside is that I’ll own a piece of land and a small house on desirable piece of land close to the downtown area and train station. I’ll have to put some money into rehabbing the house. The worst case I can see myself is that the house is a money pit. I can scrounge up the funds to clear the trees/grade the lot and make the house/lot sellable for someone. Am I missing something on either the upside scenario or the downside scenario? Am I stretching myself too thin to purchase this at $350k given that I have to take out an equity loan at 6.5%. The $350k I plan to bid is about less than 20% of my total net worth. I do plan to hire a lawyer to walk me through the foreclosure auction as it’s my first time. This lawyer would also do the closing for me and all the other due diligence. End goal is to eventually sell the townhouse I own and live in the foreclosure auction house. How much of a money could a 841 sq/ft house be that it would hinder my FI goals? submitted by /u/fireinlife [link] [comments]

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

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I just wanted to share how I am putting so much money into roth funds, because I haven't seen too many people talk about this approach before. First let me share why I am doing this. Recently I got a second part time job that is making my income very high at least temporarily. I was looking to put this extra money in a brokerage account. I was looking up 2015 tax brackets and realized what is currently 24% for me, would have been over 30% back then. In addition we saw laws almost pass that would have limited access to backdoor roth. For these reasons, I don't see how we won't have higher rates later, or at least lose access to some of these methods at higher incomes. Additionally, I want to retire early, so having money in roth where I can access contributions at any time is a huge deal. How I'm doing it Max mine and my spouse's Traditional IRA each year. Back door conversion Total: 14k Max Roth 401k at main job: Total: 23k Now we are at 37k for the year into Roth. The last part, I am self employed on the side, so I opened a SEP IRA at Vanguard, where there are no extra fees on top of it. In theory I can put up to 66k in here, but I would hit the 25% income limit before then. Right now it will be about 15-20k a year into here. At the end of each year I can convert these funds, and pay taxes on it. This is no different than if I dumped the money right into my brokerage account. If I did that, I would be paying taxes on the funds normally, and in this case, I am paying taxes to put them into roth instead. Please correct me if I am wrong as I don't see many discussions about the SEP IRA on here. This is one benefit to having contracting / freelance work on the side. I also heard rumors of attempts to add income limits to conversions as well, which is another motivating factor for doing all of the stuff detailed above. Curious what everyone thinks about this approach. Edit: also does anyone ever look at roth as a way to save money if you end up moving to a state with high income tax later on, while living in a low or zero tax state at the time of paying? submitted by /u/drocodey [link] [comments]

Would it be advisable to use the equity I have in my home to pay down what mortgage I have left? I have close to $100k equity in a home I bought in '07, and only have like $40k left to pay on it. Should I use that equity to pay it down and get it off my books, or just refi it (although I don't have much left on it as a 15 year 2.5% fixed rate). Just wondering if I can get this paid off to better save that money into a retirement account? submitted by /u/Dude_man79 [link] [comments]

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Hi FI folks, I’m looking to refine my personal finance tracking and am curious about the Google Sheets templates you use. Do you have a go-to template for tracking net worth, expenses, investments etc? Please share your templates and any insights on how you’ve customized them to fit your needs. Appreciate any help! submitted by /u/jeyyt [link] [comments]

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]

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]

Given my financial posture - does Roth or Traditional make sense? Long time lurker... first time poster. First, I've been very thankful for the advice I've gleaned from this sub and I've enjoyed thinking about my financial security due to the strategies in here. I have three questions here with some context, and some details on my overall financial posture down below to help with context. 1. Do Backdoor Roth IRA conversions make sense for my situation? Background: I don't qualify for the IRA tax deduction, but I do file Form 8606 to report non deductible IRA contributions. In the past I always did backdoor Roth conversion every year, but given my financial situation and salary, I'm not sure it does make sense for me... and does it make sense to hold off on conversions until after I retire when I have a lower tax liability? 2. Do Roth 401k contributions make sense for my situation? Background: I'm torn on the whole "buy a seed not the harvest" as it relates to roth vs traditional 401k contributions. Typical guidance says if you're in a high income bracket then to do traditional to lower tax liability... but is that still relevant given we're in the TCJA era of tax cuts? I'm planning on going back to traditional after TCJA expires but figured I would ask here. **3. Besides from maxing out the qualified accounts (401k, IRA, HSA), getting my cash savings up to 6 months of expenses, and then making contributions to 529 and Taxable accounts, are the any obvious strategies that I’m missing? (I’ve tried to stick to the flowchart) Should I do mega backdoor Roth? Or focus on taxable accounts to help with early retirement? Context: 2024 My Salary: $292k base / expected $87k bonus 2023 Taxable Income: $300k Effective Tax Rate: 17% My Salary: $234k base / $56k bonus 2022 Taxable Income: $307k Effective Tax Rate: 19% My Salary: $213k base / $58k bonus 2021 Taxable Income: $290k Effective Tax Rate: 20% My Salary: $197k base / $71k bonus Net Worth Breakdown: ($~1.3M) Retirement (IRA/401k): $778k Crypto: $138k Taxable Accounts: $135k Home Equity: $101k 529's: $92k HSA: $56k Cash: $37k Life Insurance: $2.3k Net Worth History: 2016: (-$33k) 2017: $39k 2018: $99k 2019: $223k 2020: $492k 2021: $859k 2022: $678k 2023: $1,068,000 2024 current: $1,345,200 Other Relevant Notes: I am 34, wife is 31. Two kids. I max out 401k, IRA, and HSA every year. I don't work in FAANG, but I work in tech. I'm hoping to retire at 55, earlier if my company stock takes off. my current 401k and IRA balances in totality are almost 50/50 split between Roth and traditional (but all the IRA balances are Roth due to the Roth back door conversions I do every year. I don’t expect my compensation to ever go down / stagnate until I retire. In general, all my investment accounts are passive VFIAX / VIGAX funds, or similar if the specific funds aren't available within the account. The one exception to the investment accounts is that I have ~$100k is in company stock via RSU's/ESPP/Equity Grants. If that gets to ~10% of my net worth, I'll likely sell excess off to limit risk. It's a global consulting firm in every industry, so it generally tracks with the overall stock market. I feel like I'm in a position in my career where I have lots of salary growth infront of me, so that's part of the factor of "should i do Roth or Traditional" The next position in my company will be a role where I will have heavy compensation in RSU/Equity Grants, and my plan is to hold the minimum required, and sell off the rest assuming it gets to be ~10% over my net worth, and put in passive index funds. My wife was working until early 2023 but the salary was around $60k Yes... I know the advice around here is to drop the whole life insurance and I'm planning on that Thank you for taking the time to read this. submitted by /u/leafwizardman [link] [comments]

EDIT: Apologies in advance if this post doesn't belong here Ok, I'm a guy who loves to save, and in my early 30s and planning to buy a home someday. I have changed employers in the past and held a Roth 401k from them, which I later rolled into my Roth IRA to invest in low-cost index funds. The money grows there pretty consistently and I max out my contributions there every year, hoping to reward my future self and family someday. Fast forward to today, my current employer offers a Roth 401k as well. Seems like the contributions to it are after-tax and there isn't any match from the employer on that unlike a traditional 401k. Financial gurus keep emphasizing the fact that your mortgage payments should be 25% of your take-home pay. If I were to keep contributing to my Roth 401k, I don't think with that rule I could afford a house in a million years in this economy. That being said, is it usually recommended to continue to contribute to employer-offered Roth 401k? Are there any benefits you could think of that I'm not missing? Wouldn't this be redundant? submitted by /u/mjatin2007 [link] [comments]

Hey everyone, I’ve just hit my fourth year on the road to FIRE, and I’m excited to share my progress! Here’s last year’s post for those interested: (Link to previous post) TLDR for those who are not stalkers: I started this journey back in July 2020 with a modest $5,800 net worth, working as a yard driver making $13.75 an hour. This was after a nasty divorce from an unfaithful and abusive woman, a brief stint of homelessness living in my car, and becoming a truck driver after putting my previous career in church ministry on hold despite having multiple degrees in the field. Fast forward to today, and I’ve climbed the ladder in the same organization to become the Area Manager of Global Logistics and Transportation, now earning $38.81 per hour as of this week after getting a 5.3% raise. My annual salary is now $80,744 excluding bonuses, and due to bonuses, PTO cash-outs, and investments, I’ve boosted my net worth by $50,124 over the past year, bringing it to $133,639. Here's the current snapshot of my finances: 401k: $39,549 Roth IRA: $35,419 Taxable account: $28,324 HYSA: $17,390 All my investments are in Total Stock Market Index Funds, which have seen a fantastic 25.61% gain. Work-life balance has improved significantly. I usually work from home once a week and rarely exceed 40 hours weekly. There’s even a chance of shifting to a 4-day workweek or more remote work in the future. Also, my company is having a cost-of-living adjustment this September, which may give an additional raise. Despite being frugal, I’ve managed to enjoy life. My highlight this year was an unforgettable trip to Alaska. I upgraded my camera lenses and captured stunning shots of birthing whales and breathtaking landscapes. On the personal front, big news – I’m engaged! My fiancée is a nurse and fully supports my FIRE goals. While she’s not a financial whiz, her usual response to financial matters is, “Tell me what to do.” We focus more on our goals and plans rather than crunching numbers. She’s had a front-row seat to her parents’ financial missteps and is eager to avoid the same fate. She’s embraced my financial advice wholeheartedly and is especially excited about the possibility of us paying off our future house early. Paying off our house will be a huge burden off both of us. While I understand it’s not the way to maximize numbers, this goal is more obtainable than a goal 15-20 years out. This was an easy sale to my fiancée. Finding someone so aligned with my goals, financial and not, has been a blessing. They are our goals, not my goals and her goals. Looking ahead, there are some upcoming expenses with the wedding and honeymoon. We plan to move in together after we’re married and continue saving for a house. With our combined incomes in a low-cost living area, we’re optimistic about our savings potential. My fiancée is used to dining out frequently, hasn’t budgeted much before, and has remnants of her student loans, but she’s ready to adapt and she’s excited about it. Long-term, we’ve discussed her working full-time until we pay off the house, which we expect to do quickly. After that, she might go part-time to care for our future children. Her sister, a stay-at-home mom, will be our daycare provider, which will be a huge help. They are super close and had this as their plan before I even came into the picture. Once we own a house, my elderly, partially dependent mother will move in with us. She’s offered to pay a modest amount while living with us, which will also help with our finances, and she’ll benefit as well. If, or when, she becomes less independent, my then-wife is open to leaving her job to care for her and our potential kiddos. Life is good, and I’m looking forward to what’s next. Thanks for reading, and here’s to another great year on the FIRE journey! submitted by /u/Christon_hagiaste [link] [comments]

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

Edit to clarify: my total nw is $900k I have ~$100k cash ready to be invested in VOO and VTSAX. Not planning to touch it until I hit my number, which is probably 15-20 years out. The market has been on fire lately so I'm tempted to dump it all in now. Obviously DCAing is the more conservative approach, so I've been doing about $6500/mo for the last 2 months. At this rate it will take about 15 months for it all to be invested. The uninvested cash is sitting in money market where it's earning ~5.25% interest, so at least it's not losing value in the meantime. Just not sure the best way to think about the DCA strategy here, or whether to throw it all in at once, given the long time horizon. Any thoughts or questions are welcome. Thanks! submitted by /u/hunter9002 [link] [comments]

I have $1028 in funds and $3100 in Vanguard investments (Total Stock Market, Small Cap Index, REITS) purchased in 2019 from a previous employer HSA. I now have a new employer and a new HSA servicer. The old HSA servicer charges me $2.75 a month in maintenance fees since I'm no longer with my previous employer. They can perform a rollover into my new servicer, but I would have to liquidate the investments in order to do the transfer. In other words, they cannot do a rollover in kind. Is it worth it to sell my investments, move the cash to the new HSA and rebuy the investments? I'm assuming I would take a hit to sell and rebuy at current prices. However I don't want to keep paying the maintenance fee. Insight appreciated. submitted by /u/LantanaFunSaver [link] [comments]

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

I'm looking at possibilities to convert a bulk of money into a self-sustaining independent income source that functions as a job. I'm hoping ya'll can help with ideas. On one extreme, you have index funds. Return of X%, requires Y-hours labor and has Z risk. . Suppose if instead of this, you want to set up a business that lets you work independently. About how much money would that take, and what would it look like? A relatively risk-free business to the extent possible. I am very interested in specific ideas here. Ideally without requiring any skills that couldn't be obtained with 6 months' training. I'm looking for anything on the efficient frontier of Capital--Time tradeoff which results in a self-sustaining livable salary. Does this make sense? The index fund example i mentioned would be on one end of this efficient frontier (though it doesn't really qualify because I'm only thinking of things that take 20-50 hours a week). I'm sure the idea has been done to death but it is new to me. In case you want to think deeper on it, suppose the business needs to sustain for 30 years and return a livable income. The owner/operator does NOT need to set funds aside for retirement. . Thank you very much for any thoughts. I posted something similar a month or two ago but it was misconstrued as looking for an investment that didn't require labor. . EDITED: Adding in some of the top ideas from people that seem to understand we are targeting a balancing act Landlording Gardening Power washing Construction Online content creation submitted by /u/ShouldBeeStudying [link] [comments]

Income Expenses TLDR; I have been working and saving since 16, don't know if I can keep going for 26+ years. Trying to leverage opportunities to enjoy my life more than 3 weeks at a time on PTO. 34M Single HCOL $110k/yr income with a 10% yearly bonus. Just got promoted and will be closer to $125k/yr next year. I got my first job at 16 and work has since been my focus. I graduated high school with a 1.6 GPA because I never went and instead was putting in 60hrs a week at my first job. Thanks to the early financial teachings of my grandma, who used to do things like buy us physical Disney stock certificates instead of Christmas presents, I have always been a savings and retirement focused person. This allowed me to save up to put myself through college without needing to work while there. One day I had enough and quit then went off to enjoy the college experience. Even with this saving mentality, college was expensive. I ended up graduating $60k in debt - a mix of student loans and credit card debt. I had a rough time finding a job for two years so I was doing a lot of gig work to try and scrape by while slowly chipping away at debt whenever possible. I eventually landed a job that I am still at today. As you will see later, while still difficult, not having to pay rent allowed me to pay down my debt much faster and build to where I am. Savings Roth IRA $135k (+3% YTD) 50% TSLA - $50 Cost Basis 29% AAPL - $36 Cost Basis 6% F - $10 Cost Basis 15% gambles like QS, DKNG, LCID, NIO, PLUG, CHPT most of which are down 45-90%. Humbled by a few of my previous investment decisions (trying to repeat the TSLA gains), but at least I learned my lesson somewhat young. Since it is in a ROTH my plan was to hang onto everything as a long shot, but honestly unsure. My faith in TSLA is waning. This year's contribution went to VTI and will continue to do so going forward. 401k $112k (+16.3% YTD) 100% FXAIX Match: 100% of 4% then 50% up to 6% plus an additional once a year payment of 4% irrespective of contribution. Effectively a 9% match on a 5% contribution with immediate vesting. Other options like FBCGX, FLCNX, OIEJX plus International, Bonds and TDFs are available but I do not plan on changing allocations. Taxable $71k (+28% YTD) 46% VTI - $225 Cost Basis 17% NVDA - $18 Cost Basis 37% COIN, PLTR (+), ASTS (+), MSFT (+), GOOG (+), VUG (+), INTC, HOOD, PINS, WFC (+), LCID, RIVN, RSKD, RDW, PSNY, RTX (+), NRDS, HYLN, SOFI, DAL, YOU, RUM, RKLB, NCLH, SLDP, CCL, VNQ, WBX, ORGN, NIO, PLUG, STEM, MVST, BIRD, SDIG, HLGN, MNTS = positive investment, overall loss of $9k in this account ($24k loss without VTI or NVDA) Was used as a gambling platform during the COVID/Robinhood/SPAC era but now I am just buying VTI. I have learned my lesson and am just going the single ETF approach going forward. I feel there is no need for International or Bonds yet. Tempted on liquidating everything to VTI but have not pulled the trigger. HYSA Emergency Fund $20k @ 5% Inheritance Family member's estate is currently working it's way through probate and liquidation but I will eventually end up with ~$1mm. Primary Residence This house is my childhood home and has been in the family since the '50s. It belonged to my great-grandmother and was inherited by her kids on her passing. Some of those kids have since passed and their shares have been inherited by their kids leading to a complicated situation. There is a family agreement that nothing will happen to the house until a specific event (probably 5-10 years or more) at which point it will get sold. I, along with another family member, are allowed to live here rent-free until then and I have no concerns that something will change with that agreement. Worth ~1.3mm and needs a full remodel; hasn't been touched since probably the '80s. "My side" of the family owns 1/3 of the property which will be given to me, leaving 2/3rds for me to fund if I want to purchase it when the time comes (or before). I would like to eventually die in this house and it is in a great neighborhood so I see this as an easier entry into a HCOL area that I would normally not be able to afford. This also allows for some potential property tax rate savings that would really benefit me if I plan to live here forever. I would like to eventually add an ADU in the back either for myself (and rent out the main house) or to rent out directly when I need more room. Nobody knows what will happen in that 5-10+ year time frame until I have to purchase the house, but part of me wonders if there will be any appreciation I will miss out on/have to pay for in the future. If I inherit enough to buy it out-right within the next year, I am wondering if I should. Solar $27k solar loan @ 2.75% Installed on the above mentioned primary residence last year, fully covers electric needs and then some with the intention of home charging at some point. Family agreed to pay back the remaining balance if I do not end up with the property, but would allow for many years of electric savings if I do. No batteries (1:1 net metering), but I will eventually add one since the power goes out relatively often. I have been looking into V2L/H/G capable vehicles for efficiency purposes. Rental Property $207k mortgage @ 4.25% ($60k equity) I have owned it for a little over two years now and have broken even so far (excluding tax benefits). Without including maintenance (4yo construction) and vacancy, even with property management, it seems to pencil out so far. Purchased as a rental, not somewhere I would choose to live, but I like the idea of owning something relatively cheaper that someone else is paying for "if all else fails". Vehicle Various expenses such as insurance, fuel (free ev charging), maintenance, registration, DMV fees, etc are hidden from me and would need to be factored in if/when I leave my job. Things I'm working out ⦁ How to coast/baristaFIRE as soon as possible. I am thinking about going back to the gig work on my downtime to boost income. I was tempted with overemployed but I have a good thing going with my job now so don't want to risk it. I would eventually like to go into teaching when the time to coast comes but would probably not spend the 20 years needed for a pension. ⦁ How to best leverage the inheritance with regards to the primary residence I have always assumed that it would be best to purchase the property once I receive the inheritance given my retirement goals, but maybe it would be put to better use generating income (HYSA for however long that lasts, more rentals even though the current one isn't cash flow positive, dividends for the income from 50 until I can pull from retirement accounts) and figuring out the purchase of the property when the decision is forced. ⦁ Finding a way to reach my goals before having a mental breakdown while still balancing some fun in life. I don't really have anyone to share this stuff with so mostly just looking to type this out for myself and hope that some others here have their own experiences or find it mildlyinteresting how a single man in a HCOL area with no rent and no friends spends his money. submitted by /u/TheOtherFishInTheSea [link] [comments]

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

For those of you who have achieved financial independence, retired, pursued your hobbies, paid off your home, paid off your car, started a family, funded your children’s education, set up revocable trusts for your children, taken care of your parents. and found something regularly to volunteer and donate to…. have you ever wondered what else is there to do in life? I’m wondering if retiring by your mid 40s is a good idea because there could be this emptiness inside if you have finished accomplishing all of life‘s biggest goals. Money, accomplishments, status are no longer motivators. So how do you stay in a peaceful state of acceptance and appreciate life more for what it is? submitted by /u/SamDogen [link] [comments]

Little late 6 month update that no one asks for from my wife (26F) and I (25M) journey to FI but I like to show others that with consistent savings two people can have a great life and retirement without earning 6 figure salaries. Since my last post my wife’s income has increased again from $74,500/yr to $78,400/yr and my income has increased from $75,861/yr to $78,959/yr for a combined $157,359/yr gross. We were planning on continuing to save $2,500/month but life happens and haven’t been able to hit that number which was extra to our TSPs. Below are our investments towards FI/RE that are up to date as of today: Wife Roth TSP 15% invested rounded $11,760/yr @ $32,577 Wife Roth IRA @ $8,250 invest leftover My Roth TSP 27% investing rounded $12,921/yr @ $51,369 My Roth IRA @ $8,532 invest leftover Our Taxable Brokerage Account @ $7,852 invest leftover Emergency Fund 5% APY @ $7,000 only accruing interest College Fund 5% APY @ $19,434 adding $700-$1,400/month So we weren’t able to stick to the previous savings rate of an additional $2,500/month but have still been able to continue to have some additional savings that I haven’t broken down. Our yearly costs are still roughly $73k as previous and our FI/RE number is still $2.5 million to keep $100k/yr with 4% rule but don’t plan on actually spending that much unless we increase vacations a lot. I will be retiring from the military at 41 with a 40% pension/VA disability and our medical will be taken care of for life while I plan to coast/barista FIRE with a job I enjoy every day. My wife can retire at 57 also with a pension, we are not factoring those into our retirement plans because it is very hard to know what either of those pensions will be or my disability and we don't want to under save expecting more than we end up with. But for the sake of information we can guesstimate all 3 will add up to $6,000/month. Net Worth reached $135,325 as of today compared to exactly $100,000 last post. Savings/yr will not be $55,421 as planned but should still be around $40,000 which is amazing! Our 2024 goal is still $150,000 net worth by the end of the year and we reached our goal of $100k investments so we are hopeful we’ll reach $125,000 in investments which are currently $108,830. With your help last time we figured that at 41 we'd have $1.2 million with our new increased savings I'm guessing it won't be a huge difference but probably around the $2 million ballpark but we hope it'll just keep increasing as both our yearly incomes keep going up. Thanks for reading the update, I plan on doing this every 6ish months. Keep saving and striving for Financial Independence everyone! If you have any questions are feedback for us it would be greatly appreciated! submitted by /u/Runny_Money [link] [comments]

I'm a 32F living in a HCOL. This quarter, I calculated my net worth and was thrilled to find out I've hit $1 million. I've been a long-time lurker here and I'm excited to share my journey. After graduating in 2013, I started working as a programmer in a consulting company in 2014 with a starting salary of 61k Unfortunately, those initial months were some of the most miserable in my life, prompting me to jump ship after 8 months. During the Covid pandemic, I tried my luck again with another consulting firm, but after 5 similarly tough months, I realized that consulting wasn't the right fit for me. Luckily, a previous employer bought my private shares for 100k. I invested this money in several tech stocks. Over the past decade, my compensation has ranged from 200k to 230k, depending on the stock market. I currently live with my mom, where I paid the property taxes and HOA fees. With the property tax rate in IL, we essentially paying rent to the state at this point. Lost 25k in a year due to a risky investment in a single stock, driven by my own stupidity and greed. Since then, I've become much more cautious with my investment decisions. NW Breakdown Cash: 20k HYSA: 206k Taxable brokerage: 560k Company Stock: 96k Crypto: 8k HSA: 7k 401k: 113k Debt: 0 I'm currently saving cash for a down payment because I intend to purchase a multi-unit property that will serve both as my residence and an investment. I prioritized investing over contributing to a 401k because my goal is to retire in Southeast Asia by 40. However, I've recently started maxing out my 401k contributions this year. My plan for this year is to sell my long-term company stock holdings and reinvest the proceeds into ETFs or real estate. Since most of my investments are in individual stocks, I'm uncertain about which ETFs would be best for me. Does anyone have any advice? submitted by /u/reimu_akano [link] [comments]

Anyone’s Vanguard accounts at zero this morning showing complete withdrawal yesterday? Several hundred thousand. Wondering if related to IT problems yesterday. Customer service doesn’t answer phone til Monday. Feeling alarmed submitted by /u/elizabethefor [link] [comments]

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

I am currently moving and going to lose my 2.75% mortgage :-(. As you all the new rate is going to be in the 7 range. I have been investing in the retirement accounts and brokerage accounts instead of paying down my current mortgage because of the rate. I personally believe with my new rate I should be paying it off ASAP. I have a few options. Here is my scenario: Loan amount will be 540k I have 400k in equity in my current home which I will be selling I have brokerage accounts with ~600k. Selling them will result in significant capital gains tax and NII due to my income. I currently contribute 69k a year (max) to retirement. This include maxing traditional IRA and my company has a backdoor roth. My current thoughts on what to do: I will take the extra money that I normally put in the brokerage account every month and pay down the mortgage. When my current home closes use the proceed to pay down the mortgage that will get it down to ~140k. This is where I am unsure, I can either: Sell stocks and take the cap gains and NII hit. My plan was to sell when I retired as was in the 0% bracket and no NII (I know tax laws can change) Temporarily stop contribute to the backdoor and which will free up 40k a year to pay down the mortgage I'm going to keep maxing out my traditional due to my marginal tax rate. Neither and just let my monthly payments plus monthly income surplus pay it down much slower. Thoughts? submitted by /u/Party-Sail1069 [link] [comments]

28M and I am well on my path to financial independence but I have no desire to own a home yet or in the forseeable future. I live in VHCOL and I really like the city and would like to set roots here but I just have no desire to own a home: leaving aside the astronomical housing costs, maintenance costs and being shackled to one location within the city sounds a bit asphyxiating to me. From the financial perspective, running the numbers, it also makes sense to rent forever and invest the difference on the market. Would like to hear if anyone has been in a similar situation before. Has anyone else rented long-term? How has this affected your path to financial independence? submitted by /u/Immediate-Wear5630 [link] [comments]

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