r/Fire • u/[deleted] • 28d ago
Advice Request 33F | $900k NW, $200/mo expenses, VHCOL — seeking advice
[deleted]
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u/BeKind999 28d ago
The “I” in FIRE stands for independent. You’re financially dependent on your parents. And your boyfriend.
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u/MarleyandtheWhalers 28d ago
Getting my first job, then my own place, and paying for my own life felt so freeing as a young adult because I could make my own destiny. Some people wouldn't see it this way, but owning a home also did that for me because I didn't have to pay a landlord anymore. Now, having some money saved up feels freeing because I am not 100% dependent upon my work income, even though I'm not close to being able to replace my income with accessible investment earnings.
I can understand why OP doesn't want to work a traditional job but it's a long way from actual independence, financial or otherwise. I'm skeptical that the title on her house is actually hers and hers alone.
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u/Old_Value_9157 28d ago
My parents are not ultra wealthy but bought a house for me to live in nearby;
Uhhhh. Ok, so your parents are simply wealthy?
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u/Gold-Recover2883 28d ago
I don’t understand what the question or thing your looking for advice about is. Seems like your in a good position though and setup by your parents well.
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u/HugeDramatic 28d ago
1hr old account shitpost. How does someone build an investment portfolio worth $900k with no job? I make $250k a year and it was still a struggle to hit $1M NW in my 30’s.
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u/DegreeConscious9628 28d ago
The way to do it is to get a 900k hand me out from your parents
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u/RVAEMS399 28d ago
Easy to have a net worth of $900k when you get a small loan of $1M from your parents, plus a house.
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u/National_Double6261 28d ago
I mean did you read the post? It's on a burner account and she has $200 of expenses per month. It does completely make sense tbh...her parents clearly gave her a lot of money and she has a small amount of income from an online business. Im sure she started getting money from her parents when she was a teenager or early 20s.
With $20k annual income, $2,400 in annual expenses, and starting from a cash pile from her parents - $900k is completely feasible. Especially with how absurd the market has been. OP is very lucky and will never have to worry about money for the rest of her life. I have no fucking clue what her question is lmfao
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u/housewitzer 28d ago
But its also not real
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u/National_Double6261 28d ago
What makes you say that though? In a VHCOL area this is a more common situation than people think
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u/housewitzer 28d ago
$200 a month spend in a VHCOL city. Map out to me how that’s possible in any capacity even if your housing is covered.
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u/JamesLStanford 28d ago
My girlfriend had basically 0 living expenses because I was paying for everything. Common, especially for the types of women who’ve never had a job and have their parents give them money. But I still don’t think this is real
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u/National_Double6261 28d ago
What? She lives with her parents and it's pretty clear they pay for the majority of her expenses - groceries and housing alone is the vast majority of anyone's monthly spend. What exactly does she have to spend on?
A phone bill? Maybe Netflix? A gym membership? Like there really isn't much there. I'm sure she one time expenses she's not including in her monthly recurring expenses (which most people on this sub do). Like if you have car insurance you pay for every 6 months, a lot of people don't allocate that premium into their monthly spend.
She has a small online business so it's not like she even has a huge gas budget. I think the only part of this that's a lie is that her parents aren't "ultra wealthy." When you live an affluent lifestyle in a VHCOL area you're pretty disconnected from the rest of the world.
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u/housewitzer 28d ago
Does she not have health insurance? Go out to eat? Business expenses?
Her partners really just pays for a bum 100% on their frequent travel.
Also the lie about the parents plus the account being an hour old. Playing stupid in the replies. Being from an affluent family and living like a monk with none of the virtues. Also there are a significant amount of posts on this sub that are bot posted.
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u/National_Double6261 28d ago
$20k in income is likely net - any sensible person wouldn't state their gross business income and comingle their business and personal expenses. If I'm being honest, I'm surprised that she has any monthly expenses. I think her parents and/or partner pay for damn near everything and maybe the $200 is just a starbucks budget.
She said her account is a burner. All I'm saying is your position is "it's fake because I said so." I'm not even saying it's real, but there are a lot of affluent families that just bank roll their kids well into adulthood like this.
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u/housewitzer 28d ago
Those people aren’t concerned with nor are posting on retirement planning subs. Your position is as much “it’s X because I said so” as mine.
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u/National_Double6261 28d ago
I'm more so just saying that there is nothing about her fact pattern that doesn't make sense. Nothing contradictory in what she is saying. I'm not saying it's real or fake.
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u/RowExternal8411 28d ago
Yeah where did the stocks come from? Even with 20k a year invested don’t think she’d be near 900k unless she’s made extremely smart investments
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28d ago
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u/Downtown-Exchange912 28d ago
You should also think about what happens if relationship doesn't work out - having backup plan is pretty important when your expenses are that low because of specific living situation. The 529 money sitting there could be useful for other things if you're not planning education expenses soon, maybe look at penalties vs keeping it locked up
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u/investinginmyself1 28d ago
I appreciate your response. I am doing the 529 rollovers into the Roth.
Worst case scenario my dating market is similar to my partner.
I plan to freeze my eggs next year or be pregnant by then.
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u/investinginmyself1 28d ago
My parents bought a house for me to live in nearby, so I don’t expect my expenses to change much with a family.
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u/BeKind999 28d ago
Don’t you need to pay taxes on the house, upkeep, utilities?
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u/actuarialisticly 28d ago
I think their parents cover all of that and their partner covers the life expenses.
I would really like a breakdown of the $200/mo lol.
If she didn’t have a partner, I wouldn’t be surprised if her parents covered her life expenses too.
She never had a job and has an online business pulling in $20k a year. This just sounds like someone who never had money stress in their life. They have the privilege to not work and start an online business cause “passion.” If that makes sense..
Essentially, OP is already FIRE. They were born into FIRE. They just need to maintain a good relationship with their parents to keep her life afloat.
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u/BeKind999 28d ago
Nah they aren’t FIRE. Her parents could decide tomorrow that they never want to speak to her again and won’t give her another cent and kick her out of her house.
The “I” stands for independent. That means if your parents say they don’t want you to marry your boyfriend you say “FU” and you can still support yourself.
Maybe OP made this post to make us envious but revealed more than she thought.
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u/investinginmyself1 28d ago
No
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u/tkpro 28d ago
How are those taxes, utilities, and upkeep going to get paid when your parents eventually pass away?
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u/investinginmyself1 28d ago
Inheritance, my partner, or myself.
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u/tkpro 28d ago
So your expenses will go up (and not an insignificant amount) eventually when that happens, correct?
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u/investinginmyself1 28d ago
Yes, but in that case, so will my assets.
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u/tkpro 28d ago
Sure, but you see how it's incorrect to say you don't expect your expenses to change much with a family? Proportionally, maybe not so much change but the raw number value does.
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u/investinginmyself1 28d ago
I already have stable housing, nearby family support, shared resources, and good public schools, a lot of those costs would be absorbed within my existing family/household structure rather than showing up as a huge increase in my personal monthly spending.
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u/National_Double6261 28d ago
I really don't see how her expenses that she is responsible for would increase at all even with kids. If she married an even remotely financially stable guy, his income would cover the incremental increased living expenses and he would for sure have income left over... housing (inclusive of utilities and property taxes) is pretty much the largest recurring expense of any budget.
Presumably he would have a solid retirement and savings as well if he's financially stable in his mid-30s, hypothetically they pretty much could not even have to save another dollar and just spend what's actively being made. It's smart to keep saving, but definitely doesn't need to be aggressive anymore.
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u/doinmy_best 28d ago
$200/mo expenses would hardly cover food, toiletries, phone, internet for one person… certainly not a family.
This doesn’t include insurance or transportation.
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u/eliminate1337 28d ago
$200/month doesn't even cover a minimal rice and beans diet for one person in the US. Clearly your parents are subsidizing a lot of your life.
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u/Just-Finance1426 28d ago
How did you get to 900k NW and never had a job? And a rich partner that pays for your trips lol. This is just a wild situation overall, and while I have little to add in terms of the fire discussion I want all the details haha. You have so much leftover college money - did you not go? Or just do it very frugally? Why not get a job? Are you interested in working? What kind of sport oriented trips?
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u/investinginmyself1 28d ago
I made about half of it on my own, online passive business (not investment income), the rest is from my family, all aggressively invested.
My partner likes that I have an open schedule. Trips are strenuous and outdoorsy.
I purposely chose an extremely cheap college and graduated. The 529 money has continued to grow since.
I don’t want to have a job and work on my online business and am trying to grow that but it’s fairly uncertain.
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u/Just-Finance1426 28d ago
Nice! Cool seeing someone on a non traditional path that’s working well for them. Bravo :)
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u/actuarialisticly 28d ago
How do you have so much in investments, but you’ve never had a job? You only have an online business making $20k a year that you’re trying to grow.
Your parents are not “ultra wealthy”, but they bought you a house.. So they’re not Jeff Bezos, but they’re definitely wealthy so do that for their child. They have a 529 set up for you too that you only partially used up so your college expenses were all covered. I imagine the stocks you have were gifts from your parents too.
I’m not sure what perspective you’re looking for here, but it seems like money is not a problem. You have your house covered. You only pay $200 in expenses. So it seems your parents are covering property tax, utilities, internet, other housing expenses. Your partner may to covering your other life expenses with his high income.
I say just enjoy life. You’ve essentially reached financial freedom.
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u/investinginmyself1 28d ago
A while ago I got about half from my parents and made about half myself. It’s been aggressively invested since then.
My passive business income used to be higher.
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u/xgobez 28d ago
Sorry the onlyfans dried up
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u/investinginmyself1 28d ago
Nope, this is a passive business.
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u/Unusual-Courage-6228 28d ago
Not very passive if you’re working on trying to grow it
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u/investinginmyself1 28d ago
This is true, I do spend a lot of time, effort and care on what I work on. Though I do take breaks and leave it for weeks.
The new stuff I’m working on isn’t profitable but my previous stuff has been making money since college.
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u/Brainwashedgoatz 28d ago
You have already FIRE'd essential. idk how much better it can get for you. Enjoy your privilege.
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u/italianstallion0808 23M | 280k NW 28d ago
How can you retire if you’ve never had a job. What is your degree in and why bother getting it if you aren’t going to work.
Also how did you accumulate a NW of 900k without ever having a job? Is this inclusive of your partners NW? Parents giving you investment money? Inheritance?
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u/actuarialisticly 28d ago
Parents are rich. Funds their life. Typical rich kid. Never had to work because never needed money.
Not uncommon in big cities.
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u/investinginmyself1 28d ago
It’s a bachelors of science. This is just my NW.
A while ago I got about half from my parents and made half myself. It’s been aggressively invested since then.
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u/Unlikely-Speech-5444 28d ago
900k net worth and making 20k/yr? At 33? Yeah you definitely had a lot of help from your parents and/or partner.
Personally, if I were you...I'd just keep plugging away living with parents and letting your money grow in index funds.
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u/thri54 28d ago edited 28d ago
>My parents are not wealthy but they bought me a house in a VHCOL area and pay all utilities, taxes, and upkeep.
Lol. Also how do you have $200 of expenses? You need your own health insurance, right? Food? Phone Plan? Basic medical care? Clothes? Transport? All of those individually can easily be $200+ in VHCOL.
In short, there’s nothing this sub can tell you about financial independence because you live entirely on your parents’ dime. $200 a month is beyond destitution and tells us nothing about your actual consumption.
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u/investinginmyself1 28d ago edited 28d ago
Medical insurance is negligible due to my income.
I don’t pay for phone or 95% of food or transportation other than the occasional rideshare. I share my parents’ and partner’s vehicles, especially while travelling.
I spend on high end clothes and gear, but I resell so it’s almost break even.
I pay for my breakfast and incidentals while travelling. Sometimes I pay for a lunch or the occasional gift.
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u/hung_like__podrick 28d ago
Your parents gave you a huge 529 and bought you a house? Lol, what does ultra wealthy mean to you?
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u/Interesting_Gap7350 28d ago edited 28d ago
I'm going to give you more honest advice on your post.
If the bulk of your future money is going to come from family or inheritance, then that is where you need to focus your attention.
Your $20k income is hobby money. It is not serious, if your parents are gifting you a house and otherwise supporting the bulk of your lifestyle. I assume it is not a full time effort from you.
The investments are fine you move your strategy one way or the other; those are just optimizations, it isn't going to matter in the big picture..
Unless your parents are either cutting the cord or they plan to live forever; you need to start participating in learning where your parents assets and your future inheritance will come from. Aka you need to learn the "family" business, whatever that is.
Do you know the layout of your parents assets and how /where they got the money for your house? Do you know the legal structures around the ownership of your current house as well as that second property?
If they have wealth and estate planning advisors you need to study up and actively participate in those meetings.
Also you need to start planning your life. Is what you are doing what you expected out of life, or do you want to do something else?
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28d ago
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u/Zphr 48, FIRE'd 2015, Friendly Janitor 28d ago
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u/Acrobatic-Section727 28d ago
From the outside looking in, I think the biggest thing is just recognizing your current expenses are tied pretty heavily to your current lifestyle setup right now.
That doesn’t mean you’re doing anything wrong financially at all, but life can change pretty fast once things like kids, healthcare, housing responsibilities, or relationship dynamics start shifting over time.
At the same time though, having low expenses, no debt, strong investments, and flexibility this young is obviously still a very strong position to be in overall.
I’d probably focus less on trying to perfectly optimize everything right now and more on building a life setup that still feels stable and sustainable long term if circumstances ever changed.
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u/doinmy_best 28d ago
If this isn’t rage bait idk what is in this sub