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Firemenot

Last year my wife and I spent $17.1k. That did include employer-paid health insurance, no vacations other than a weekend in San Diego (thanks COVID), and no accrual for replacement vehicles/appliances, etc. We can live on less (go down to one car, not vacation overseas and watch expenses more caref...

Firemenot

I think it has to do with interpretation of what lean FIRE is. My understanding is that lean FIRE is living in a basic fashion in a way that minimizes expenses which means minimizing the cost of housing as well. There are some places where even entry level houses cost $1M+ and mortgages would be $5...

Firemenot

Has anyone crunched their numbers on retirement expenses. I'm asking a contrarian question of if you're earning $100k++/yr now, do you need $100k++/yr(adjusted for inflation) at retirement? For those planning to moFIRE with $250k/yr, what are you spending your money on? Isn't there a probability th...

Firemenot

Could be. But that’s pretty much been said for each of the last two decades at their start. Might it also be an attempt to justify the recent underperformance of Berkshire relative to SP500?

Firemenot

I live in a not particularly large house (about 1750 square feet), but in a VHCOL area. I think it has to do with interpretation of what lean FIRE is. My understanding is that lean FIRE is living in a basic fashion in a way that minimizes expenses which means minimizing the cost of housing as well....

Firemenot

Supply versus demand. Nothing more than that. Why is gold valuable? For the most part, it has no practical uses other than making jewelry (or other ornamentation). But plenty of much cheaper metals could make that jewelry too. For these reasons, I don’t old gold and I don’t own crypto. I’d rather ow...

Firemenot

My family’s Lean FIRE, FIRE, and fat FIRE numbers are as follows. Relevant info: 40s, multiple kids that will still be in the house for years, high-cost of living area I don’t want to leave, and sizable outstanding mortgage (~4k/mo for < 50% LTV 30 yr mortgage on < 1800 sq. ft. house). No way, no h...

Firemenot

I've never understood the concept of having multiple numbers. There aren't three different lifestyles of retirement that I'm trying to decide between or whatever. My number is $24k/year. This supports the retirement lifestyle I want. Opposite for me. I'm not going to work and save and invest for my...

Firemenot

A car that never needs to go to the shop, aside from routine maintenance and brakes/tires.

Firemenot

They aren’t very reliable cars relative to other options (shows in quality rankings). Also, they may have fixed this issue, but their spare parts used to be really constrained and you could wait weeks or months for repairs due to the inability to obtain parts. In principle electric cars should be mo...

Firemenot

I don’t think there’s any basis for saying it’s BIGGER than in 1999/2000. Were you an active investor back then? The level of exuberance and valuation stretch then were more.

Firemenot

I've never understood the concept of having multiple numbers. There aren't three different lifestyles of retirement that I'm trying to decide between or whatever. My number is $24k/year. This supports the retirement lifestyle I want. Opposite for me. I'm not going to work and save and invest for my...

Firemenot

I've never understood the concept of having multiple numbers. There aren't three different lifestyles of retirement that I'm trying to decide between or whatever. My number is $24k/year. This supports the retirement lifestyle I want. I did not work and save and invest my whole life to voluntarily r...

Firemenot

I've never understood the concept of having multiple numbers. There aren't three different lifestyles of retirement that I'm trying to decide between or whatever. My number is $24k/year. This supports the retirement lifestyle I want. I did not work and save and invest my whole life to voluntarily r...

Firemenot

Are there any other platforms that allow for fractional share ownership? My wife has been giving me haircuts during Covid, which saves about $30 a time. I’d like to invest the money each time I would have paid in a company of her choice. Would be total play money for her/our family and fun exercise ...

Firemenot

My Lean FIRE, FIRE, and fat FIRE numbers are as follows. Relevant info: 40s, multiple kids that will still be in the house for years, high-cost of living area I don’t want to leave, and sizable outstanding mortgage. No way, no how: <80K Lean FIRE: 80-120K FIRE: 120K-200K Fat FIRE: 200k+ How about f...

Firemenot

neb2020 wrote: ↑Sun Jan 10, 2021 5:25 am Are you guys citing numbers in today's dollars or future dollars?

At FatFIRE $200k and say 30 years from now with 2.5% inflation, that's $419k. Assumes you start at 20s and end in 50s. With 3.5% SWR, you get $12 million required.

Real dollars (i.e., today’s dollars) in my case.

Firemenot

I live in a not particularly large house (about 1750 square feet), but in a VHCOL area. I think it has to do with interpretation of what lean FIRE is. My understanding is that lean FIRE is living in a basic fashion in a way that minimizes expenses which means minimizing the cost of housing as well....

Firemenot

Those seem reasonable given minimal info provided but depends on so many things. Why are you asking? Would need more info. Mortgage? How many kids? Current annual spend? So many disagreement on BH are based on spending expectations. So I’m just curious how it varies by circumstances and individuals...

Firemenot

Yes!!! You should have! Do you want to be with a 8-digit net worth in you 30s and build from there up. Do whatever you want and on your time. Read a book about investment, then 2... then 50. Start reading 1 annual report a day. Then study for the CPA exam, then for the CFA. If there is even one wor...

Firemenot

Let me ask for clarification on the "retire early" RE part of FIRE. What is the definition? Hard to offer anything actionable without clearly identifying the FI and RE components of the equation. It varies. Let’s say younger than 55 for purposes of this thread. Well that ain't gonna happe...

Firemenot

The numbers here are quite crazy, $80K/yr for Lean FIRE? With a 3% SWR that would require an accumulation of $2.67M. Given that the US Median household income is around $75K/yr it would be just a fantasy for most to become FI at a normal age let alone the RE part. It’s all so relative based on pers...

Firemenot

Let me ask for clarification on the "retire early" RE part of FIRE. What is the definition? Hard to offer anything actionable without clearly identifying the FI and RE components of the equation. It varies. Let’s say younger than 55 for purposes of this thread. Well that ain't gonna happe...

Firemenot

radiowave wrote: ↑Sat Jan 09, 2021 5:45 pm Let me ask for clarification on the "retire early" RE part of FIRE. What is the definition? Hard to offer anything actionable without clearly identifying the FI and RE components of the equation.

It varies. Let’s say younger than 55 for purposes of this thread.

Firemenot

My Lean FIRE, FIRE, and fat FIRE numbers are as follows. Relevant info: 40s, multiple kids that will still be in the house for years, high-cost of living area I don’t want to leave, and sizable outstanding mortgage. No way, no how: <80K Lean FIRE: 80-120K FIRE: 120K-200K Fat FIRE: 200k+ Without kno...

Firemenot

Sure. It's a secondary consideration. After I lock in the sure thing (retirement in 7 years or less), I consider opportunity. I really wanted to buy Apple when the stock was around $8. I was interested in Bitcoin when it was about $1 (Imagine if I'd just put in $50!) I was interested in Tesla in 20...

Firemenot

My Lean FIRE, FIRE, and fat FIRE numbers are as follows. Relevant info: 40s, multiple kids that will still be in the house for years, high-cost of living area I don’t want to leave, and sizable outstanding mortgage. No way, no how: <80K Lean FIRE: 80-120K FIRE: 120K-200K Fat FIRE: 200k+ What is the...

Firemenot

I’m not looking to put out too much personal info onto the internet. Mortgage payment on an amount that’s about half my house’s value = about $4,000/mo with taxes & insurance (which I have no interest in paying off early). No other meaningful debt. Don’t spend much on clothes or cars. Multiple k...

Firemenot

My Lean FIRE, FIRE, and fat FIRE numbers are as follows. Relevant info: 40s, multiple kids that will still be in the house for years, high-cost of living area I don’t want to leave, and sizable outstanding mortgage. No way, no how: <80K Lean FIRE: 80-120K FIRE: 120K-200K Fat FIRE: 200k+ What are yo...

Firemenot

Those seem reasonable given minimal info provided but depends on so many things. Why are you asking? Would need more info. Mortgage? How many kids? Current annual spend? So many disagreement on BH are based on spending expectations. So I’m just curious how it varies by circumstances and individuals...

Firemenot

If you go Tesla.com the first thing they show you is not their cars, it’s their solar panels. Gives you an idea of how they see their own value. Tesla is valued higher than every other automaker combined, it’s true. But how about every automaker and every oil company combined? Now we’re talking I d...

Firemenot

My family’s Lean FIRE, FIRE, and fat FIRE numbers are as follows. Relevant info: 40s, multiple kids that will still be in the house for years, high-cost of living area I don’t want to leave, and sizable outstanding mortgage (~4k/mo for < 50% LTV 30 yr mortgage on < 1800 sq. ft. house). No way, no ho...

Firemenot

These aren’t “imagine the future” type of companies I think that "imagine the future" is exactly what the Tesla optimism is and exactly what Bitcoin optimism is. What I mean is that we know electric cars are the future. Laws are already written ensuring this. Bitcoin isn’t a company. I do...

Firemenot

No. I own the total market index so I own Tesla. As for bitcoin, I prefer productive assets and I’d probably lose the codes anyhow.

Firemenot

I don't think work [*] is overrated. But I find most people approach to LIFE is unimaginative, dogmatic and fearful. Many can only live peacefully inside of a cage and under constant supervision by MegaCorp. Work is very important, but not the most important thing in life. It should be a slice of l...

Firemenot

I think a lot of people think too narrowly about work or don’t change things up enough. My goal is to find something I never want to retire from. It’s a journey, and it won’t involve a job with a large corporation. For me, it will be something flexible and intellectually stimulating that I can mostl...

Firemenot

59Gibson wrote: ↑Sat Jan 09, 2021 9:28 am
runner3081 wrote: ↑Sat Jan 09, 2021 8:55 am Highly overrated.

Also, people who brag about long hours. I don't get it.

BUT.... if you don't work, how do you fund life?
UBI

A societal money tree!

Firemenot

Not a lot of money as long as market goes up 10-15 percent per year. 1-2 percent raises aren't worth your time at a job. As long as the average investor is able to control about 20-30 percent of the market everything will be fine. One of the keys to FIRE is dividend income because it doesn't ever c...

Firemenot

I went from 1 to 2 in like a year. They're right, first million is the hardest. You bet it is. Seems like it's taking forever. My portfolio closed today at $871,000 and even though I had a great 2020 just like everyone else I am wondering if I will ever see $1 million... the reason being I have an ...

Firemenot

I’m guessing you’re not happy with your job/career. At 30 or earlier everything is possible. Think creative, take a sabbatical, switch jobs, re-train, etc.

Firemenot

That’s great to hear. I thought that would be the likely outcome. If you’re a top performer, the power of quitting is surprising. Has been in my career.

Firemenot

Waiting For The Last Dance https://www.gmo.com/europe/research-library/waiting-for-the-last-dance/ Worth a read :sharebeer. Grantham concludes by advocating for value & emerging stocks. So it's a bubble, but a US one. GMO is a broken record. They are perma-bears. Anyone listening to them would ...

Firemenot

Waiting For The Last Dance https://www.gmo.com/europe/research-library/waiting-for-the-last-dance/ Worth a read :sharebeer. Grantham concludes by advocating for value & emerging stocks. So it's a bubble, but a US one. GMO is a broken record. They are perma-bears. Anyone listening to them would ...

Firemenot

Everyone keeps saying that the wealth will be squandered by future generations, but look at the Trump's, Bush's, Kennedys, Rockefellers, etc. All of the family money is still intact, and all of the members of the family seem to be doing pretty well. I think if you raise your kids right, give them a...

Firemenot

I was using a Titan commercial spray unit. Great sprayers They are indeed! I love mine. I bought their smallest unit and have used it to paint every surface on my property. By the way, I wonder if the additive product you mentioned isn’t just a clever way to add back VOCs to today’s low VOC latex p...

Firemenot

We're a young family and thanks to the advice on here, saving aggressively for 12+ years and a great bull run we're pretty close to financial independence. We'll keep working to some extent as a safety net and we enjoy being professionals. We feel very fortunate and aren't greedy people, but I find...

Firemenot

I was using a Titan commercial spray unit. Great sprayers They are indeed! I love mine. I bought their smallest unit and have used it to paint every surface on my property. By the way, I wonder if the additive product you mentioned isn’t just a clever way to add back VOCs to today’s low VOC latex p...

Firemenot

1. I don't think it makes sense to pay extra for the very thick paint knowing it will be diluted to spray. I wouldn't assume this, there's no sprayer limitation here on pushing, say Duration, through a 517. Actually, I'd fire them if I saw this (unless there's a very special situation that can be e...

Firemenot

1. I don't think it makes sense to pay extra for the very thick paint knowing it will be diluted to spray. I wouldn't assume this, there's no sprayer limitation here on pushing, say Duration, through a 517. Actually, I'd fire them if I saw this (unless there's a very special situation that can be e...

Firemenot

Happy New Year Everyone, After writing this I realized that I take forever to get to my question, so I am just going to ask it here and save the set-up for the later paragraphs. If you would like more set-up as to why I am asking, please read below. I would like to establish generational wealth for...

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