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

If i retire at 50 will i be able to collect social security when i come of age? Right now i pay towards ss with my wages. If i fire do i not receive ss benefits later? submitted by /u/norfolk82 [visit reddit] [comments ..read more

Hi all First post. Retiring in December, at 60, from school administration. Still nervous but what are your thoughts? Spending about $90k annually. Incudes 3 mortgages, primary of $200k at 2.7; vacation $70k at 4% and rental that is cash positive of a little bit. $1.2m in vanguard retirement funds. $200k in cash hoping to move half into a brokerage account in the next few months. Pension income should be around $130k annually. . Nervous about the market especially retiring a month after the crazy election coming up. Planning on traveling and probably moving but hate the thought of a 7% mortga ..read more

36m + 34f + 9 yo. Have saved aggressively since we launched after college in 20212. Started out making $65k gross, but now are at $230k gross. Save $92k annually, spend $85k annually ($25k-$30k travel). Portfolio: -$220k Roth IRAs (max annually) -$480k 401ks (max annually + match + profit) -$425k Brokerage ($36k annually) -$55k HSA (max family) -$32k cash -$450k House No debt. NW: $1,650,000.00 Plan is to retire in 2040, when wife is 50 and I’m 52. My calculations tell me will have ~$5m + house. Plan to withdraw $100k annually in retirement. Q’s - do my calculations work? For those who have d ..read more

Background Over the past 5 years I've been following the FIRE journey, feels like I've been creeping closer every year. 28M, work as a project manager with a healthy hybrid work life in southern California. Live in a studio apartment 1 minute walke from the beach for $1,800/month all included. 150k salary (was 90k 2 years ago), 40 hour work week, 330k networth with about 150k of that being retirement accounts (mixed pre / post tax). At the rate I'm going now I will reach my FIRE number of $2M in about 10 years (real worth of $1.6M). This is given 10% returns, 4% inflation and a savings rate of ..read more

Hey everyone! At the beginning of April my NW hit my dynamic target calculated by my average expenses. Exactly 1 month later I was notified that I was part of a layoff round at the startup I worked at, with 4 months pay. I had planned to add some padding before retiring in a year or two but it was not to be, so I'm officially retired! I started the journey in 2015 with my first job, after finding this sub Last salary was $99k + $15k stock options working in software for a medical device startup Married with no kids and no car and no plans for either Have a minor cat sitting side hustle earni ..read more

I’ve been thinking outside of the box lately about long term risk mitigation and thought about how useless my home is as an asset once I have it paid off. So I looked into options like reverse mortgages (scam) but then I found life estates “A life estate is created by a deed that gives the property to the person "for life" and identifies what should happen to it after that person dies. For example, a deed stating that land would go "to John Doe for life, then to Jane Doe" gives John a valid life estate, and Jane a remainder. John could use the land during his lifetime, and even sell his inter ..read more

First I think we can all agree that milestones in terms of round numbers are actually meaningless, whether in terms of birthdays or money. But we're humans, we celebrate them, yay! First $100k, first $1mm. $500k. "$300k is half way to $1mm". That's great stuff for the accumulation phase, but I wonder how it feels for people in retirement. You set your plan, you retire with your FIRE number and your lovely swr and the hope is that markets will soar and you'll either be just sipping at the firehose of money your investments are making or actually giving yourself some sweet, sweet raises. But we ..read more

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

A widely accepted rule of thumb among personal-finance experts is that your retirement income needs to be close to 80 percent of what you earned before retiring if you hope to maintain your lifestyle. Is this true? I read this in a NYT article about 401(k)s today and this seems way higher than the 4% NW or 25x salary target I was planning previously. submitted by /u/yoyo2332 [visit reddit] [comments ..read more