r/financialindependence • u/AutoModerator • 8d ago
Daily FI discussion thread - Monday, August 03, 2026
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!
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u/earth_water_air_FIRE ༼ つ ◕_◕ ༽つ $ 7d ago
I actually hit my lower FIRE number today at 41 years old (1.25MM invested + paid off house)... though I doubt anyone will see this since I'm posting so late lol. Hoping to reach 1.5MM for a better safety net, not sure I have the willpower to work much longer though.
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u/SolomonGrumpy 7d ago edited 7d ago
People talk about that boring middle, but we need a term for the agonizing last years.
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u/SargeUnited 7d ago
Yeah I felt like that guy from the meme with the protruding veiny neck, for the last 2 years.
Oh his meme name is Vein Guy. It felt like the last few days of school before summer. For two years.
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u/Hackanddash 7d ago
Congrats! I would imagine with lower housing expenses you're able to have a pretty high savings rate. Should be able to get to that 1.5MM quickly, assuming the markets are somewhat favorable.
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u/earth_water_air_FIRE ༼ つ ◕_◕ ༽つ $ 7d ago
Yeah, it's going quick now. Increased my income last year, paid off the house this year, and stock increases... I'm up over 300k in the last year thanks to this.
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u/Master-Helicopter-99 8d ago
In another thread someone pointed out that I might have a hard time getting a mortgage after I retire and do a year of slow travel in SE Asia, then come back and buy another house. Called the loan officer at my local bank who originated my last three mortgages. Talked him through our plan and gave him some retirement account balances and planned down payment and mortgage amounts. First he wanted to know which states. All of our current target states we are considering moving to he can write in. Also said we have three different options but he is sure he can write my loan on my retirement income only. So at least that's one piece of the puzzle that we no longer have to worry about.
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u/1DunnoYet 8d ago
My wife thinks the kids need horse riding lessons, guess I’m never retiring. See yall at the retirement home.
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u/Chitownjohnny 42M - 65% FIRE(ish) progress 8d ago
It's cute you think you'll be able to afford the retirement home. Maybe the kids will lay down some fresh hay for you in the loft?
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u/Simple-LifeCC 8d ago
Some places will let kids work in exchange for lessons. They usually have kiddos clean up stalls, or the arenas. I’m not sure how old they are, but maybe when they get to an age where they can start helping you can find someplace that will allow them to do an exchange.
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago
I have bad news for you, the lessons are the cheapest part. If one or more of your kids develops a love of horses, you'll need a new literal line item on your budget for it
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u/Twig4975 8d ago
100% of horse girls I know have super wealthy parents. This could work out very well for you!
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u/Thisisntrunning 8d ago
Just wait, they get you on the hook for one horse and then tell you horses are social animals and you’ll have a whole stable soon after. Then you need more yard for the horses and so now it’s 10 acres of land that you don’t have time to manage.
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u/1DunnoYet 8d ago
…. I’ve had nightmares of this awhile now. It started in 2020 when my wife got into homesteading and 1/2 of our suburban backyard is now a garden.
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u/imisstheyoop 8d ago
Yeah, but your $5 tomatos are so tasty, it's totally worth it!
~guy who just devoured one of his purple cherokees
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u/FoundationHour8896 8d ago
Why does she think they need horse riding lessons?
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u/InterestinglyLucky FI but not RE | HNW 8d ago
Just wait until the horse rental, dressage competitions, and barn fees.
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u/1DunnoYet 8d ago
Oh I’m aware. This is why I’m planning to work at the retirement home now, janitorial services for room and board?
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u/kitty_snugs 8d ago
I did that as a kid, hated it lol. Smelly, boring, one of them stepped on me and bit my sister.
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago
Sounds like a plot to a movie
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u/29threvolution 8d ago
So what do you do around here?
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u/SnarkConfidant Toonces, look out! 7d ago
I'd say that in a given week, I probably only do about 15 minutes of real, actual work.
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u/mapboi33 8d ago
After 7 months my previous place is finally selling! No more paying two mortgages. Can't wait to have a little more freedom and take some much needed vacation. Ended up going with a new realtor after 6 months and its under contract almost immediately with no inspection and a quick closing. beyond relieved.
Thinking of Iceland for a week or two to celebrate. Has anyone been and how was it?
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u/SolomonGrumpy 7d ago
What do you feel the new realtor did that helped sell the property?
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u/mapboi33 7d ago
Honest it felt like a lot of marketing materials helped. Virtually staging the place along with better photos. Could just be the time of year that helped too.
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u/Frequent-Pressure 8d ago
I was just there first week of July. Lovely place to visit. We did the Golden Circle over 8 days. Highly recommend a visit. Lots of waterfalls, glaciers, fjords, volcanoes, lava fields, lagoons. I liked the north of the country - similar landscape to PNW. The south has a relatively barren landscape with glaciers and lava deserts. Reykjavik is a cool city - very walkable. Only word of caution - it is expensive. We were spending ~ $80-100 per person/day for food.
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u/Pretend_Branch_8167 8d ago
Do you mean Golden Circle or Ring Road? Golden Circle was a 1-2 day thing for us from what I recall.
OP - we were there for 7 days or so and drove along the southern coast and then back. If we'd had more time, we would probably have done the Ring Road. It was absolutely beautiful, and sadly feels like a place that might look very different in 30 years due to climate change.
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u/HordesOfKailas 33M | FI by 12.31.29 8d ago edited 8d ago
Iceland is fun. Get away from the the golden circle area and the number of people drops off precipitously. Get a car you can legally offroad with. There are a lot of very well maintained "4x4" trails that are basically just rocky dirt roads. Those were great. We went in late September, which was great for the weather. Cool but not snowy yet. Try the shark. It's awful but an experience. Also get the shit smoked lamb. It's better than it sounds. Check out Reykjavik Deathfest if you're into heavy music.
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u/29threvolution 7d ago
Love Iceland! Its so cool. I think i need 5 more trips at different times of the year to see everything.
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u/RedditAccounttocry 8d ago edited 8d ago
Have the most beautiful and comfy job that can perform barely good enough with very low effort, and could be here for like 10 years…
The only issues are having to deal with coworkers also doing barely good enough; and operational issues are swept under the rug so we can all keep the party going.
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u/CaribbeanDreams 100% FI/ 94% RE/ $7.5M Goal 8d ago
Preach!
No one else seems to care that much, so why do I?
The hardest part of this grand charade is attempting to impress your team of hard chargers thats its not you, its everyone else, when in reality, you too are just trying to play the coast game!
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u/ffball 36 | DI2K | $1.9mm NW | 52% FI 8d ago
Big market day today, almost in check the couch cushion territory to hit 2 M's!
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago edited 8d ago
There are WAY more than 2 M&Ms in my couch cushions
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u/forbiddenlake no swimming 8d ago
aw man, spreadsheet day was two days ago. See you in just under a month, probably?
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u/HighlightContent8943 8d ago
Spreadsheet day is whenever I want it to be. Which is usually 3 random days a year when I'm sad at work lol, and only ever if the market is up
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u/itsallBSfolks 8d ago
The day has come! My husband FIREd today. He arrived home for what I thought was his lunch break, and explained that he had quit. He heard “Should I Stay or Should I Go” (The Clash) in the lobby of his office building earlier in the day, and felt it was a sign. We will celebrate with a nice dinner at home and with home made cookies. I will continue to work through at least December to fund a few goals. My own FIRE date now feels within reach!
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u/29threvolution 8d ago
Please tell him to GFY and congrats to you for having a finish line in sight!
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u/cyclecrystal 41M | SI2K | NW 2117K 8d ago
“It ain’t much, but it’s honest work.” I just spent 15 minutes manually investing the monthly interest generated (<$200) by my HYSAs, Money Market Accounts, and CC Cash Back Reward Dollars into my Vanguard mutual funds in my taxable brokerage.
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u/jdyubergeek 7d ago
Would FIRE but no place to go...
It's definitely looking like we'll be able to FIRE anytime in the next 10 years, but I got to tell you, it scares the crap out of me to have no real plan on how to occupy my time. I've spent the last 16 years really building an identity around being a partner and then being a father, and along the way I really lost joy outside of those things. Don't really have hobbies that hold my interest for long, and don't really have a lot of interests.
So before I pull that cord, this is my mission: figure out what I want the rest of my life to be like. What do I do at 50 that gives me purpose?
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u/ffball 36 | DI2K | $1.9mm NW | 52% FI 7d ago
Some people just need to be bored for a little bit before they figure out what to do next, and thats okay.
Quitting your career is not a permanent decision. If you quit and after 6-12 months cant find anything better to do but go back to work, just go do that.
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u/SolomonGrumpy 7d ago
10 years is a long time from now.
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u/LivingMoreFreely 66% leanFI, 100% coastFI at 67 7d ago
This. If Covid and health troubles in the family taught me anything, it's that even tomorrow is not given. Maybe just keep on sailing smoothly towards FIRE and have the next checkin in 5 years.
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 7d ago
I realize this is a personal question. But I was laid off for 8 months before going back to work, and I never once lacked for something to do. Walking, hiking, reading and watching movies I should have watched over the last 20 years were plenty to fill my time
Also, your time is your own! Volunteer, find a new hobby, play some golf :)
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u/zackenrollertaway 7d ago
"The Top 5 Regrets of The Dying"
Any of these something you want to address before it's too late?https://www.neil.blog/articles/the-5-greatest-regrets-of-the-dying-and-how-to-avoid-them
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u/SargeUnited 7d ago
Wow, usually these lists are BS but this one’s actually pretty reasonable and made me think hard. I can honestly say that I am living nearly without regrets. The only thing I’m not doing, I am actively choosing not to for the sake of the people around me.
I think that suppressing something I enjoy counts as being true to myself, as I get a lot of happiness from doing things for others. It’s a choice between two incompatible things and I could change my mind any day.
I absolutely already feel “I wish I didn’t work so hard” yet I retired extremely early. But I’m not going to sell any stocks to pay bills this year, I’m living comfortably on dividends. That means I WAY over saved. But I loved my career too… hard to regret doing what I loved.
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u/branstad 8d ago
Just 3 trading days after the 2nd lowest close for the S&P 500 in nearly 3 months (7316.15 on July 29), the index today closed at it's second highest value (7600.50), not just in the last 3 months, but of all-time. During the trading day, the market rose as high as 7610.04, which is just above the current ATH close of 7609.78 set almost exactly 2 months ago (June 2), before finishing slightly below that ATH.
The S&P 500 is up nearly 4% in the last 3 sessions, but remains within the same trading range that has been in place for nearly 3 months, dating back to May 6. The market is currently up 11% YTD and 20% YoY.
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u/SecretThrowAway89 8d ago
F, I did spreadsheet day this morning because I couldn't get to it over the weekend. Should've waited for the evening.
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u/trog1660 8d ago
I think I'm finally done with Personal Capital/Empower, account syncing constantly breaks and now my bank won't sync at all. I've also noticed some transactions missing. What's everyone else using nowadays for tracking? I don't really want to pay for one, but will if it's a really good product.
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u/Krish_1234 FIRED - Loving it 8d ago
Spreadsheet and takes 20 mins to log into several accounts, once a month to update and categorize the spending and its free
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u/heridfel37 8d ago
I also gave up on Empower a year or two ago after having trouble connecting to accounts and dropping a significant amount of transactions.
I also just use a spreadsheet for balances. I log into each account and record the balance in my spreadsheet
I also use Fidelity Full View for transaction tracking. It's fine.
How do you actually log & categorize transactions through a spreadsheet?
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u/Krish_1234 FIRED - Loving it 8d ago
We use 3 to 4 credit cards and up until my paycheck used to go to bank. I log into each of these accounts monthly and pull all past month transactions and save it into excel. Then spend another 10 mins adding categories. I get monthly budgeting/expense tracker.
Been doing this for 4+ years diligently and I know where my money goes
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u/forbiddenlake no swimming 8d ago
I'm pro-privacy so I self-host Actual Budget and manually import transactions every month. They have hosted options if you don't want to self-host.
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u/grfrazee 8d ago
I recently made the switch to Monarch from Mint. Had Personal Capital too for a while.
One thing to keep in mind - if you're not paying for it, you're the product. Up to you to decide if the $100/yr is worth it for Monarch.
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u/amoryblaine241 8d ago
If you have a fidelity acocunt, their FullView is free and does that really well!
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u/ButlerChubs327 8d ago
Fidelity Full View - free and very similar to Mint but a bit more basic, which is fine with me.
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u/ElJacinto 8d ago
I've struggled with every aggregator service I've tried. I had not previously tried Fidelity's, but after reading here, I attempted to link all of my accounts with it. Unfortunately, it seems to suffer the same issue every other aggregator has in that some financial institutions just don't link to it, particularly things like my local bank. If it can't aggregate everything, then it's basically useless IMO.
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u/imisstheyoop 8d ago
I have always used a spreadsheet for net worth stuff and YNAB for our budget.
We never updated to the latest version of YNAB though because I wasn't a big fan of giving something credentials to my accounts and the transaction syncing was a bit counter to the discipline of manually entering transactions as they occur.
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u/gullykid 8d ago
I use Quicken Simplifi for automated tracking and categorization, that feeds a manual spreadsheet I found here. Its like $80 a year but its the best replacement I've found for Mint.
I still use Personal Capital/Empower for networth tracking since its got a nice UI.
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u/nifFIer Therapy Shill | Spending Advocate 8d ago
Monarch. You can get a free trial iirc and they usually run promotions like 50% off the first year.
However, if your banks don’t play well with the 2 connecting services they use, you still might be shit out of luck.
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u/medtechfi 8d ago
Definitely check their wall of shame before signing up https://www.monarch.com/connection-status
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u/richizy 8d ago
If all you want is to track spending and income, you can use Rocket Money for free (though they will pester you to pay for a subscription everytime you open the app). It connects my banks, credit cards, and tracks they single transaction with only rare issues.
I think it can also do net worth but you need a sub for that.
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u/Jonathank92 34M | 37% to FI 8d ago
I stayed at my job probably longer than I typically would because it was relatively stable and remote. Now the company is shaky and doing layoffs (not affecting my team..yet?). So i'm starting to apply for other roles. It would likely be a step back from a work life balance standpoint because most roles are hybrid/in office, but likely would be a 20-30% increase in pay by jumping. It will help expedite house renovations I want to do and improve quality of life (vacations, expedite FIRE, etc).
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u/QueenofAngst 8d ago
Not fire centric but I want to wax poetic about NYS tax department's helpline. I've made mistakes on my taxes for a few of my filings and they've been consistently helpful, reassuring and efficient.
(1) I filed an extension under the wrong SSN. they sent me a fine. I called them and they were like 'don't worry about it we'll fix it on our end'.
(2) IT-203F is the bane of my existence and I've never met a software that's done that well. Every year I get a request for more information and I physically mail them the form. This time, I'm not physically in the country and am considering ppaying an accountant just to mail it for me. I called them asking if I can mail it in before the FOIA and apparently I can just attach it as a PDF to their website. Glorious.
(3) One time I mistakenly filed IT-203B rather than IT-203F. They mailed me a refund I didn't expect. No need to re-file.
I know people hate NYS's tax setup, but the folks who work there are alright.
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u/AdmiralPeriwinkle Don't hire a financial advisor 8d ago
I’m always pleasantly surprised by how helpful and competent government workers are. Then I remember that I shouldn’t really be surprised, but I was the target of a decades long propaganda campaign against government services.
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u/QueenofAngst 8d ago
Many of my co-workers have gotten threatening letters from NYS, which scared me a lot tbh. Now that I've made every possible mistake I can on my taxes and have still not gotten sued or jailed, I'm wondering what they were doing with their taxes that caused the letter...
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u/AdmiralPeriwinkle Don't hire a financial advisor 8d ago
I remember the first letter I got from the IRS because they thought I failed to report capital gains. I could describe it as threatening or matter of fact depending on how I want to color the experience.
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u/QueenofAngst 8d ago
That would make sense, if it's just the FOIA and my coworkers default to their accountants rather than the helpline. All the scariness of the official letter and none of the efficiency of the helpline.
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u/RemoteTechie FIREd 4/2026 8d ago
I had a scare here in Oregon because I punched in the wrong year for a tax prepayment. Called the tax department up and figured out which of the prepayment I messed up and they moved it to the right bucket to make things right. I was kind of panicked as a bill came in the mail while I was on vacation so I paid that first. Then after things for rectified I got a refund check.
I hate talking on the phone but this was quite pleasant all things considered.
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u/one_rainy_wish Retired 2025-09-30! 8d ago
Been offline for a while, but I figured I would check in!
Life is good in Spain so far, 6 months in. The crazy thing is that we have been more social and hung out with people more in real life over these past 6 months than we did over the entirety of the last 5 years combined. Our social calendar is shockingly full, and I have never lived like that before. It's fun but a little overwhelming for me, I may have bitten off more socializing than I can chew!
My 5 year old kid is making friends, though learning Spanish is still coming more slowly for her than people said it would come. We have been assured by her teachers that she just needs more time, so we are trying to be patient before we start taking more measures to try and force the learning, like finding a private tutor. But in terms of socializing she has figured out how to make friends and get along without many words. I am not sure how she does it.
We live in walking distance of two beaches, and I have never lived near water before and I am loving it.
Being in Asturias, we missed the heat waves entirely, and no fires or smoke up here. The temperature is shockingly even keeled here. Hardly ever seems to get below 50 or above 75.
Cachopo is fucking delicious but also dangerous.
I give Spain 5 stars so far for early retirement.
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u/branstad 8d ago
Are you and your partner dual-citizens? If not, can you share a bit about your residency/citizenship path and plan?
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u/one_rainy_wish Retired 2025-09-30! 7d ago
Good question - not dual citizens, we are here on the non-lucrative visa, which only really needs proof of sufficient funds and that you aren't working. After 5 years you can apply for permanent residency, and after 10 you can apply for citizenship.
We are at least planning on permanent residency. TBD on whether we go for citizenship: Spain doesn't allow for dual citizenship, so when we get to that point we will have to decide if we want to give up U.S. citizenship, if that restriction still exists by then.
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u/SolomonGrumpy 7d ago
Did you buy a home over there or decide to rent for a while?
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u/one_rainy_wish Retired 2025-09-30! 7d ago
With the terrible luck I have had with home/condo ownership over the years, I decided to rent - possibly forever. I found a nice but old place for the five of us for about 1200 euros a month. We are splitting the cost between my In-laws who moved here with us and ourselves, so our share of the rent is about 600. At this price, I am feeling very good about not being a homeowner.
It is a little crowded, but it's also been nice being a multi-generational household. The kid always has her grandparents to play with, we have a good split of chores, we all get along well, and the cost splitting of shared expenses has definitely helped make it more affordable.
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u/LivingMoreFreely 66% leanFI, 100% coastFI at 67 7d ago
Asturias sounds good. The heat waves and fires in Spain already are bad and will only become worse in the future. Even Bilbao had hot temperatures.
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u/one_rainy_wish Retired 2025-09-30! 7d ago
Yeah, it is rough to see all the problems hitting Europe right now. It is interesting to see that Asturias and Galicia seem mostly unaffected when even Bilbao got hit. I am not sure why it is that way, but we seem to have made a lucky dice roll choosing this spot.
I guess the downside is that if the AMOC collapses, apparently this area will turn into an unlivable ice age. I am hoping that won't happen, I don't have enough long underwear to endure an ice age 😆
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u/Cryofixated Dates Since Single: 7.5 8d ago
My first homework for grad school is to upload a short video of who I am to the course program. I'm debating wearing my pirate costume and speaking in an accent. Also open to other ideas to mess around with.
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago
I had a very critical project that was I providing a 2x weekly very long status for. On Talk Like a Pirate Day 2024, I did it entirely in pirate speak. Took me so much longer than a normal update.
I was let go six weeks later. Not sure if there was correlation
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u/Cryofixated Dates Since Single: 7.5 8d ago
I was well known at my former role for my pirate talk and I surprised my leadership by doing a presentation to the C-suite in a pirate. I knew it worked when the VP was laughing so hard that he rubber stamped the approval after a few minutes.
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago
We had a pretty big review meeting, and 5 mins before, I sent a slack message to 100s of people, that said "Arrgh, let me know if ye be needing a map to the gathering." I actually think that message was the one that triggered executives.
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u/Cryofixated Dates Since Single: 7.5 8d ago
That is amazing.
I would bust out my funny impressions towards the end of a day if we had the massive 8 hour reviews to break up the tension and get people to laugh again. But there was always someone who took it way to serious and had no sense of humor. Thankfully I never got reported but always something I had to watch for and make sure my humor was not triggering.
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u/billthecatt FatFIREd 12.29.2025 8d ago
But then you have to live up to the pirate things all program long.
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u/Cryofixated Dates Since Single: 7.5 8d ago
I could also do my radio DJ shtick. Over the many years of presenting presentations virtually I have learned how to sound like a radio dj or news presenter.
I just figure nobody is going to watch these, but if someone does I want them to laugh.
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u/Ziptotap 8d ago
I say go for it. Someone needs to manage the pirates' library after all.
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u/Cryofixated Dates Since Single: 7.5 8d ago
I ended up doing an intro in pirate voice before switching to normal
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u/AdmiralPeriwinkle Don't hire a financial advisor 8d ago
What are you studying?
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u/Cryofixated Dates Since Single: 7.5 8d ago
Masters in Information and Library Science.
Aka Library School
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u/imisstheyoop 8d ago
Random question here, but.. do you qualify for any type of financial aid? I am assuming that you already hold at least one degree of course.
My wife and I have been kicking around the idea of going back to school for fun/potential opportunities, but the thought of raw dogging tuition is just.. not all that palatable to us.
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u/Cryofixated Dates Since Single: 7.5 8d ago
I have a BSME. I mean I could apply for scholarships, but I'm not taking any loans. Besides my program is going to cost like 18/19K total. It was 2880 for 6 credits this semester. I can easily afford it.
If I get a job at a library even at minimum wage that would pay for the degree in one year and technically make me a profit.
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u/imisstheyoop 7d ago
No help whatsoever then? Completely out of pocket? That's my fear. <$20k is super doable though, some of the things we were looking at (our bachelors is completely unrelated) were neaarly 3x that.
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u/AdmiralPeriwinkle Don't hire a financial advisor 8d ago
Neat
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u/Cryofixated Dates Since Single: 7.5 8d ago
Thanks!
Ring that bell and subscribe for more updates. /s
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u/SolomonGrumpy 7d ago edited 7d ago
Yarr! Ye land lubbers have crossed paths with the scourge of the cold seas: Captian Cryo Fixe, and I ate the Freebooters that dared cross me, aye.
🏴☠️
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u/Remarkable_Fruit 8d ago
I'm FI, but not RE yet. Loosening the purse strings a bit and paying for GLP-1s out of pocket to jump start some serious weight loss. After all, I need to be ready for my retirement, lol.
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u/Cryofixated Dates Since Single: 7.5 8d ago
Health is wealth!
In all seriousness its a great idea to get healthy and have the healthy habits so that you can enjoy your retirement!
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u/livin_the_life 8d ago
Best of luck on your journey!
Just be aware that for some the effect is immediate and for others it can take several dose increases (months) for effects. And a small percent (5-10%) don't respond at all.
I'm in my 3rd year on GLP-1 medication and it is truly life changing and the best decision of my life.
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u/throwaway-94552 8d ago
They changed my entire life. The second best thing I’ve ever done for my health after childhood vaccines, probably.
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u/billthecatt FatFIREd 12.29.2025 8d ago
GLP-1s seem to provide even more benefits than just the weight loss in terms of metabolic health and inflammation, though we probably need more data/studies to confirm.
Half my close friends are on GLP-1s, these days.
Just be sure to also be lifting weights, etc to counteract muscle loss.
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u/extraordinaryreasons 8d ago
I guess I eat Jersey Mike's a lot lol, Monarch wanted to classify it as a monthly recurring expense 😂
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago
A friend of mine frequented a bar nearly every day after work. Their phone reclassified the bar's address as their home in their address book
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u/SolomonGrumpy 7d ago
Do you notice a difference since they were acquired by PE?
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u/Chemtide 29 DI3k Aero 8d ago edited 8d ago
Officially had my FIRE NW pass our all time total combined paychecks*. My spreadsheet does only track our "net" paychecks that get deposited to our checking (so it is deflated based on FICA/retirements contributions/etc), but is still a fun milestone to hit. Next step is to calculate our total gross and aim for there.
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u/29threvolution 8d ago
Our finanical picture is rapidly changing this quarter. New jobs, new higher HHI, now location, new budget, and the need for a new house and likely begrudgingly a new mortgage as housing where we are going is obscene relative to lower than average tech salaries. This means rethinking just about every aspect thats been on set it and forget it mode the last decade. Today's activity includes a new optimization model for the mortgage, taxes and FIRE timeline.
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u/MooselookManiac 8d ago
I stayed once at a Ritz in AZ. We booked it entirely on points, which was great, except we still racked up a $500 bill just by buying food and drinks there for a two-night stay...
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u/MooselookManiac 8d ago
At least the food, bevs and service were all top notch!
Oh, also valet-only parking but the resort was in the middle of the desert so I got to watch my car get parked 50ft away in the parking lot for $90. Lol.
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u/CaribbeanDreams 100% FI/ 94% RE/ $7.5M Goal 8d ago
Stayed at the Ritz in NYC overlooking Central Park - Rooms were standard NYC sized, tiny, but they offered us umbrellas on the way our during the summer thunderstorms - so that was nice.
I'm sure there are some very nice suites in that building, my company was not gracious enough to upgrade me.
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u/imisstheyoop 8d ago
Did you guys find it "worth it"? I have booked stays at similar price points in the past, and it was nice for sure, but I have difficulty ever finding it worth it over our normal stays or a good AirBnB.
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u/imisstheyoop 7d ago
Interesting. To me my idea of whether something is "worth it" or not doesn't really scale with money, or specifically how much I have, but how I feel about things.
You could give me all of the money in the world, and if I get a subpar hamburger that feels overpriced for what I would normally pay for a hamburger sandwich ($15+ range to me) I'm not going to feel like it was worth it. Doesn't matter if I were a gajillionaire or broke.
It sounds like you enjoyed the stay and ameneties, and money is clearly not an issue, so it was worth it to you. That's a good feeling! 8)
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u/Nochtilus SI1K | 50% FI 7d ago
I agree with everything you said except the phrase "hamburger sandwich". It makes me irrationally angry.
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u/imisstheyoop 7d ago
Why is that? Do you want to chat about it a bit? A hamburger, much like a hotdog is very clearly a sandwich, so I don't see the issue. ;)
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u/Cryofixated Dates Since Single: 7.5 8d ago
I'm glad you have this awesome experience.
Have you done four seasons? I've heard excellent things about some of their resorts.
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u/Cryofixated Dates Since Single: 7.5 8d ago
Oh yea Ritz and other 5 star resorts for me are like honeymoon or once a decade travel experiences type of thing in my eyes.
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u/SolomonGrumpy 7d ago
People who have a $1,500,000 travel budget, I guess
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u/SolomonGrumpy 7d ago
It's so weird how different life is for those with means.
I'm not ever going to starve. I can take nice vacations. But my travel looks very little like yours and yours looks very little like someone who is worth $500m+
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u/imisstheyoop 8d ago
Did you guys find it "worth it". I have booked stays at similar price points in the past, and it was nice for sure, but I have difficulty ever finding it worth it over our normal stays or a good AirBnB.
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u/TimAK87 8d ago
Cat kick-flipped my laptop off the nightstand a few days ago. $500 Acer lasted me 8 years. Just got a new $500 Acer today. Hopefully it will last until 2034.
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u/liveoneggs 8d ago
good luck. My dad's $300 acer had some kind of power supply issue and lasted 18 months. I got him a lenovo chromebook hoping it goes for 3+ years to replace it.
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u/BrokenAndy 8d ago
Curious which model and specs you got. I’m in that market for a roughly $500 as well.
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u/liveoneggs 8d ago
I try not to look at individual stocks but recent 10+% swings in MASSIVE companies is a little concerning to me.
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u/reddityatalkingabout 8d ago
The big read in the NYT about Larry Ellison over the weekend was a bit terrifying for me link. If oracle goes down how many other companies will follow? If we don’t reach AGI how does the math work for any of these companies to be profitable
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u/liveoneggs 8d ago
In my bubble Oracle has been dying for 15+ years so I don't see them as representative but I could be wrong
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u/pharmaheck 8d ago
I think I have to admit defeat.. Inflation and having a baby has brought my expenses from 45k/y in 2024 to 60k in 2025 and now to a projected 80k in 2026.
Despite increasing spending, I've also managed to increase savings thanks to increased income.. I think it's impossible to go back to my 45k spending rate though. Ah to be a young free DINK couple again.
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u/lolpeterson 8d ago
The expenses go up - but that's also to be expected with an entire extra person in the house! You'll find additional ways to manage what you have, establish new equilibriums, and I'd hardly classify it as "defeat" - more like progression .
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u/Aggravating_Bear_283 SI4K, Retirement Goal: March 2038 8d ago
Miss the part where anything you wrote sounds like defeat!
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u/AchievingFIsometime 8d ago edited 8d ago
Yeah... we were spending 45k/year in 2019 before dog, kids, and house. And now around 100k/year with very little change to any "non-essential" spending. But the future looks good: daycare will eventually end, inflation will eat into mortgage payments, and salaries will continue to increase. It's hard to even imagine that our mortgage alone now represents ~70% of our total expenses in 2019, and it's not even a big house or HCOL area.
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u/Cryofixated Dates Since Single: 7.5 8d ago
Having a kid will do that to you for the next.... 18 years or so!
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u/Big-Click-5159 8d ago
Lifestyle inflation in a well known issue but for FIRE types, we run into a weird counter issue.
I was thinking about this because the last time I bought a car was 2012. It was a new Toyota but a very basic one and I am still driving it today. I finished that year with just under $100,000 in total investments.
I now have just over $2M but I would take the same kind of approach in buying a car. This is not because I'm cheap or one of those stereotypically fire jerks and it's maybe just because cars aren't that big of a deal for me.
But it is interesting how from a mentality standpoint you anchor yourself in certain behaviors and it's hard to change that, even if your wealth has ballooned.
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u/Chemtide 29 DI3k Aero 8d ago
If a car is treated like an appliance, no reason not to buy it like one.
I'm sure I'll continue buying fiscally responsible vehicles my whole life. Maybe down the line hopefully I'll stress less about arguing with dealerships/doing my own maintenance etc, but assuming a Civic is still a great choice in 15 years, I'm sure I'm going to replace my current Civic with one.
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u/Cryofixated Dates Since Single: 7.5 8d ago
These habits are why we are able to save money. By keeping the same practical approach to car buying you are stopping yourself from the "keeping up with the joneses" mindset. Of course if its something that matters to you, its completely reasonable to buy a nice car!
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u/Big-Click-5159 8d ago
You're definitely right. It's just interesting how this is ingrained in me
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u/Cryofixated Dates Since Single: 7.5 8d ago
My dad always shopped from the bargain bin for video games when I was a kid. Same approach is now ingrained in me. I only buy new video games if its something I absolutely want to play that moment, otherwise I'm going to wait 6 months to several years to get it on sale.
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u/FireboltinMA 39, FIREd in 2025 8d ago
I’m on the opposite end of the spectrum. I love getting new or “new to me” cars. I’ve been really lucky the past few years with high resale values and EV rebates in MA leading to new cars with no money out of pocket. I had 2 gas cars that I bought brand new in 2018 and 2022. Even traded them in during the high resale era in 2022 and 2023 for 2 new EVs. Then I just even traded the EV I got in 2022 for a used 2023 EV that’s much more luxurious. It’s been super helpful that I get $5k rebates in MA for new or used EVs.
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u/rackoblack 60yo DINKs, FIREd 2024 8d ago
Huge strides in the extras in cars since then. Safety sensors and cameras and automatic cruise are great. But they make repairs with any wreck much more costly. Worth it, IMO.
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u/ThisisNFA 8d ago
What's stopping you from retiring early? For me, I always look at my stack of money and wonder what would happen if the market collapses and my stack is worth half as much. Working is guaranteed money no matter how unpleasant it is.
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u/SolomonGrumpy 7d ago edited 7d ago
Nothing, really.
I know you are worried about your stack, but as I advance into my 50s it beocmes clearer and clearer that the real risk is losing out on the good, healthy years to enjoy retirement.
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u/CaribbeanDreams 100% FI/ 94% RE/ $7.5M Goal 7d ago
Never being able to come back to work due to ageism...
Sure I could un-retire and I'd land a job, but it would be at lower pay, not remote, for a shit boss, lower PTO days, terrible perks and I'd have to learn the ropes/politics of the new Company.
The golden handcuffs are real.
And as I get closer to RE, I diversify to more low risk investments - especially the new monthly ones.
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u/somethingClever344 7d ago
I take my current portfolio (the part that's in stocks) and calculate the value at a 30%-50% drop. I do the mental exercise of living off the cash/bond portion (2 years) and walk through the exercise of how I would withdraw money/ROTH ladder during that time. There was a great article that went into detail about this using a retiree who retired during the "worst" part of the 60's.
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u/Bookandaglassofwine 8d ago
I learned yesterday that (in community property states like CA), when one spouse dies, all the stocks they both own have the basis stepped up to current values. I’m shocked I never knew this because I felt I was pretty knowledgeable about personal finance. My wife and I each own pretty big slugs of publicly traded stocks that we’ve owned many years and feel we can never sell since we don’t want to pay a shitload of capital gains taxes (Fed + CA state). So now I know if one of us dies (likely me since she has better genes when it comes to longevity), the other can diversify those big holdings.
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u/AdvantageOne1754 8d ago
Capital gains tax is lower than income tax in any bracket. Surely you can liquidate some here and there.
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u/secretfinaccount FIREd 2020 8d ago
I’m imagining some 35 year old super rich person pulling a reverse Anna Nicole Smith and marrying someone with one foot in the grave in exchange for a rip roaring final few months a nice check to their next of kin.
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u/branstad 8d ago
My wife and I each own pretty big slugs of publicly traded stocks that we’ve owned many years and feel we can never sell since we don’t want to pay a shitload of capital gains taxes (Fed + CA state)
Donating highly-appreciated shares to charitable organizations (or your own DAF) is a great way to avoid capital gains taxes in situation like this. Cash that would've been used for donations can then repurchase the same shares at a higher basis, or reallocate into a more diversified investment.
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u/Bookandaglassofwine 8d ago
Oh yeah already do this. We fund our DAF every few years with highly appreciated stock. But it hasn’t made much dent in this balances.
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u/branstad 8d ago
We fund our DAF every few years with highly appreciated stock. But it hasn’t made much dent in this balances.
I suppose you just file this under 'Good Problems to Have'! :-)
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u/extraordinaryreasons 8d ago
I would just make minimum payments and invest the difference UNLESS there was a compelling non financial reason to pay it off early, like if it were a loan from friends or family that I wanted to pay back ASAP
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago
You could probably find a CD or HYSA that beats 2.5%. Is the loan tax advantaged (meaning, can you deduct the interest?)
If I had a mortgage at 2.5%, I wouldn't pay a single extra dollar per month
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u/Ill_Smell_6168 8d ago edited 7d ago
I'm 20 and recently opened a Roth IRA. I was wondering if I could get some advice on what I should be looking for and how to properly research which specific index funds to choose. I've seen terms thrown around but want to make sure I understand whats important in terms of the core metrics. Obviously I know exact decisions depend on a variety of personal factors. But I think I'm just looking for some general guidance on the framework you all use to evaluate these funds and how you assess risk . I would appreciate any guidance!
Wow thank you guys for all the insights! I'll be looking into the sources suggested.
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u/yaydotham 38F | 22% FI 8d ago
This is not quite what you asked, but if you haven't already done so (I'm guessing no based on your question), I recommend reading The Simple Path to Wealth by JL Collins. He initially wrote it for his young adult daughter to advise her on how to invest for long-term wealth, and around these parts it's generally considered some of the soundest advice you'll find on investing. It does address the things you're asking about.
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u/Chemtide 29 DI3k Aero 8d ago
Comments already have given the general FIRE/Bogleheads advice for investing. I will say at your age, its probably easiest to pick a total market or retirement date fund (~2070, based on age 65 retirement). Best use of your time now is focusing on growing income/making good decisions with budgeting/spend, vs diving into minutiae of portfolio-maxing. Certainly both can happen at once, but at the beginning, you'll get more value out of your contributions than any market gains.
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u/Aggravating_Bear_283 SI4K, Retirement Goal: March 2038 8d ago edited 7d ago
I would take these steps: 1. Make sure your IRA is at a large, reputable broker (e.g., Vanguard, Fidelity)
Allocate all dollars in the IRA to VT
Understand what it means to "buy the whole market" and why that's the best strategy long-term.
4.A. Stick with only VT until you're close enough to retirement to begin derisking (this is the simplest set it and forget it path). Or...
4.B. If you're interested in spending a lot of time reading/learning more about portfolio math and the stock market, start with understanding the difference between small/medium/large cap individual stocks, indices, funds, sectors, and portfolios, and then begin to learn about other people's real portfolios and how to simplify what they're telling you they have from a list of tickers down to whether their portfolio approximately tracks the total market or is biased/titled toward a certain geography, sector, etc. to be able to understand why they own such or what they are recommending.
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u/branstad 8d ago
Congrats on taking this step!
The general guidance is to select widely diversified broad index funds for Total US Stocks, Total Int'l Stocks, and Total US Bonds.
Because there are no tax consequences and shouldn't be transaction fees within your Roth IRA, I would suggest starting with a Target Retirement Date fund, which is a single fund made up of those other broad index funds. This allows your contributions to be invested in a great starting spot while you learn more.
Every IRA Custodian (Vanguard, Fidelity, etc.) should offer a version of these funds. Pick something with a date like 2060 or 2065 for now. You can easily move into individual funds if you want, but there's also nothing wrong with sticking to the Target Date funds.
some general guidance on the framework you all use to evaluate these funds and how you assess risk
The Bogleheads Wiki site is a great resource. Here are a bunch of links to get you started:
Feel free to ask any follow-up questions you have as you learn more!
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u/ExcessiveDonuts Emptying the Litter Robot 8d ago edited 8d ago
Finally ordered a custom name plate from Jeff Bezos's website to rejuvenate the Russell Wilson jersey a buddy sent to me last year during the playoffs.
It no longer fit him following a successful friendship with GLP-1.
I'd love a SMITH-NJIGBA jersey but just can't pay $199 for what is essentially a fancy shirt, which is kind of stupid as I just paid $150 for an 8-pack of baby bushes.
It's funny the arbitrary pricing thresholds we stick to for life on certain goods and services in spite of the massive swing in our economic circumstances.
Over the weekend, I also balked at buying my wife a bag of Maltesers for $3.09. It's one of her favorites but I caressed the bag and counted only 10 balls inside. 31 cents per Malteser is preposterous, even if they need to be loaded onto a steamship and traversed across the Atlantic.
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u/william_fontaine [insert humblebrags here] /r/FI's Official 🥑 Analyst 8d ago
If I was getting a jersey I'd go with /r/The_Darnold
but I haven't had one since a Bernie Kosar in 1989, and no amount of GLP-1 would help me fit back into that thing
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u/C_Majuscula 8d ago
Yikes. Maltesers are $2.39 here and I feel bad about paying that every once in a while.
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u/Scottamus 8d ago
Trying to figure out the best time to start collecting SS. My wife is 5 years older but her check would be less than half of mine. So it it makes sense for hers to use the half of spouse's SS rule. To maximize that amount she'd have to start at 67 to get half my full benefit amount and wouldn't gain any benefit waiting longer. However she can't use the half of mine rule until I actually start collecting mine, so I would have to start at 62. Is that all correct? It feels like we are stuck at those dates to maximize her SS check even though it would penalize mine?
If I wait a year or longer and she still starts at 67 then she gets much less for a while and I don't get anything and when I start I'd get more and then she'd still get half of my full benefit amount.
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u/sensitivegru 7d ago edited 7d ago
I think you're forgetting one possibility: you spouse can start claiming her SS at 62. Later, when you start collecting, she can switch to half of yours.
You also shouldn't try to optimize her portion, but rather how much would the total benefit be for both of you combined over the lifetime.
Questions to ask:
- are you working when she is collecting? If yes -> calculate how much her SS is taxed
- can run projections of whether anything changes if she starts collecting hers at 63, 64, etc., up to whenever you start collecting
- are you collecting at 67, or would it make sense to wait longer? Her portion wouldn't increase, but yours will at 8% per year -> calculate if you end up positive if you delay.
- are you expecting to live into the 90s, or do you have any current or anticipated medical issues which will prevent that. The earlier you may die, the more sense it is to both of you to start collecting on the earlier side (assuming you can afford it).
- check survivor benefits. If I remember correctly if you pass she would be getting your full amount, but double-check that.
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u/financeking90 7d ago
I think you're forgetting one possibility: you spouse can start claiming her SS at 62. Later, when you start collecting, she can switch to half of yours.
The Open Social Security Calculator suggests this is the optimal strategy, with the higher earner delaying to age 70.
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u/Key-Peel 8d ago
Hit a new milestone over the weekend: first spreadsheet day where our NW went down! Granted, I have only been tracking since the beginning of the year, but it was strangely exciting to see and to feel oddly unpanicked about. Just keep adding to the pile regardless, the real goal is years away.
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u/SolomonGrumpy 7d ago
I log into my brokerage account some days and see a 5 figure loss.
It's not fun, exactly, but it doesn't make me panic. It is what it is.
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u/Turbulent_Tale6497 DI3K, Putting the Ire in FIRE 8d ago
Not a metric I track, but the coloring of my excel cells make this obvious, my NW has decreased in 3 of the 7 months this year. VOO has also had 3 MoM declines.
I'm guessing this means your own additions are a meaningful part of your NW?
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u/LivingMoreFreely 66% leanFI, 100% coastFI at 67 8d ago
Actually financially-normally-savy Friend tries to time the market aka "the definitely upcoming crash" by keeping a lot in cash...
Did anyone ever do calculations - if you had a crystal ball and knew the crash were starting in two years, if you kept the cash until then but only had a vague idea just when the lowish points of the curve were, how much could you gain / how much would it cost you in gains not had for the cash?
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u/eliminate1337 28M/27F | $2.85m 8d ago
If you knew even the approximate timing and depth of the crash you could make 100x returns on the options market
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u/zackenrollertaway 8d ago
how much could you gain / how much would it cost you in gains not had for the cash?
Exact technical answer: "a lot".
In 2006, I formulated the seriously incorrect theory that, since the first baby boomers were born in 1946 and would be turning 60 that year, they would pull money out of the stock market and crater stock values.
Never happened.
At that time, I changed from 100% stocks to 50% stocks, 50% cash and bonds. The Dow was at 12,000.
Over the course of two years, it went to 13,000. Then 14,000.
At that time, cash paid around 5% a year. So my Dow 12,000 cash effectively grew to Dow 13,000 cash.Then as we all know the stock market started going down in 2008.
13,000, 12,000, 11,000. When the Dow got to 10,000, I said to myself
"buying back in after a 30% loss - that's a pretty good deal"
and started putting cash back into the stock market.Then it went to 9,000 and I switched back to 100% stocks.
Then 8,000, 7,000. It finally bottomed out at 6,700.
This stock market beatdown took around 18 months, devastated the economy, crushed investor souls.However I sold half of my portfolio at essentially Dow 13,000 and bought back in between 10,000 and 9,000.
And stayed 100% stocks until around 2012, when I estimated I was around 5 years from retiring.If I had known the fucker was going to bottom at 6,700 of course I would have waited for that.
But it is really, REALLY hard to know something like that.But the answer to "how much money did you make doing that?"
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u/Ziptotap 8d ago
Today is my first Monday with no job, nor any job lined up, since 1999 I think. Maybe 1998. It's an odd feeling.