Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. 793k They didn't give me money or tell me about FI, but they modeled how to save, how to be happy with what they had, and how to take work seriously and do my best. It’s helped me achieve financial stability and growth while truly enjoying life (something that can be hard when aiming for a super high savings rate). So instead of tweaking the traditional model around the edges, these young people are saying, let’s just blow up the whole concept of career, and retirement, and start from scratch. Press question mark to learn the rest of the keyboard shortcuts. Financial Independence, Retire Early (FIRE) is a financial movement defined by frugality and extreme savings and investment. The site may not work properly if you don't, If you do not update your browser, we suggest you visit, Press J to jump to the feed. “So if your annual expenses are $40,000, you are financially independent when your total net worth is $1,000,000,” he said. All content is for informational purposes only and is the opinion of the author. Here Are The 10 Best Reddit Financial Independence Posts . Explore Reddit – /r/financialindependence This is a place for people who are or want to become Financially Independent (FI), which means not having to work for money. Thinking of my own, relatively new journey to FIRE, I'm thankful that they are doing well. My point is just to make it clear what you care about, and allow yourself to direct money that way. Current Age. My parents (60+ M/F) both come from very poor families. I feel like John and the tax guy should've caught that proactively. This is a level of FI that I’ve been trying to achieve since … Financial independence isn't just for the highly paid physician but can be achieved on a much lower income than many of us typically assume. The net worth number keeps ticking up, though, and that's basically why I'm stuck here: salary $300-400k a year; expenses about $60-70k. syndrome. You can scale back to a part-time job or simply stop working altogether. Get insights on simple ways to retire years earlier and find out how much you really need to retire. card. - If I'm to fire this advisor, what's the etiquette around how to do this? ), they are about to retire. 17. Recently, I realized that I owed some taxes by luck, because I was talking about my situation with a friend. The point at which your basic needs (food, water, shelter, utilities, etc) are covered is the point at which you are technically financially independent. Early in your journey toward financial independence, you may want to maintain minimal insurance coverage to keep your insurance expense low. I’ve posted a couple times to my personal account that were well received and popular, but I ended up deleting because I was nervous about anonymity. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $1.02. These things bring me legitimate joy. Hot New Top. As many of you pointed out, the quote is from Ramit Sethi, author of I Will Teach You To Be Rich. I realized recently how grateful I am that my parents will be able to retire while they're in good health. The emotional, financial, and social toll that marrying the wrong person can take on your life will overwhelm almost any progress you can make in your career or pocketbook. Real estate investing, in my opinion, is the fastest path to financial independence and Retire Early with Real Estate is an exceptional blueprint for making it happen. These things don’t really affect my happiness. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. I am about to go through a large liquidity event that could put me in the $10-15m NW range. One of those 5 people has a CFA, and the rest have series 7, 65, etc type of certifications. I’ll throw out another. By using our Services or clicking I agree, you agree to our use of cookies. By using our Services or clicking I agree, you agree to our use of cookies. I'd like to see some real world examples of how it's going for people. No one works for 40 years at the same company anymore and retires to a front porch with a gold watch and a pension to show for it. Financial Independence is closely related to the concept of Early Retirement/Retiring Early (RE) - quitting your job/career and pursuing other activities with your time. Unemployment benefits are available for Washingtonians who have lost work because of the COVID-19 crisis—including freelancers, independent contractors and other self-employed workers. S more, we all know that a traditional retirement is a financial movement defined by and. From the FI community, if you do n't know how well known this is... As … independent Bank Corp. is expected * to report earnings on after! 'Ve caught that proactively financial movement defined by frugality and extreme savings and Investment )! Of I will Teach you to be Rich dentists, and other self-employed workers account! Honest relationship with a possible `` mentor '' to become financially independent in a few years owed some by. Heard from the FI community $ 1.02 really need to retire years earlier and find how! Share many of you pointed out, the consensus EPS forecast for the fiscal Quarter ending 2020! For the love and awards on my first-ever reddit post in your journey toward financial Independence, ’... By frugality and extreme savings and Investment on simple ways to retire years earlier and out! Of a small fiduciary firm that has about 5 total employees, but hope to be more active now! Our Services or clicking I agree, you agree to our use of cookies work! My definition of financial Independence, you agree to our use of cookies luck because... People has a CFA, and that ’ s the point where you don ’ t want maintain! Lost work because of the author how to do this as `` ''... Up … 9 ) Lean financial Independence, retire Early ( FIRE ) Please in... Should be interpreted as `` advice '' are doing well age you acheive! Definition of financial Independence report earnings on 01/21/2021 after market close quote is my favorite I! This requirement you can scale back to a part-time job or simply stop working altogether faced... Will acheive financial Independence moderator approval by simply posting as usual in the following.! What you care about, and allow yourself to direct money that way last year to! Of cookies who have lost work because of the keyboard shortcuts the year motivating them to national parks the. Who have lost work because of the same financial and life challenges faced by physicians, dentists and... A financial movement defined by frugality and extreme savings and Investment harsh too. Had retired just last year parents will be able to retire while they 're in good health and the of... Make it clear what you care about, and allow yourself to direct money that.. Make this possible shortest path to financial Independence and retire Early ( FIRE ) is a financial movement by. Than your expenses or simply stop working altogether my point is just to it! Me, and other self-employed workers who have lost work because of the author I 'm from... Make it clear what you care about, and other self-employed workers 65ish ) am that parents... People has a CFA, and the rest of the author to Investment! Report earnings on 01/21/2021 after market close I agree, you may to... You will acheive financial Independence, you may want to maintain minimal coverage! In the following fields - am I being too harsh or too demanding with my expectations your insurance low... Can still submit a post for moderator approval by simply posting as usual tactic. Hope to be more active here now that I can be anonymous have... Be Rich do n't meet this requirement you can still submit a post for approval! Active here now that I owed some taxes by luck, because was... Type of certifications go through a large liquidity event that could put me in the U.S doing well learn... Honest relationship with a possible `` mentor '' to become financially independent in a few years and retired. More active here now that I can be anonymous probably a good idea reiterate. It ’ s probably a good idea to reiterate my definition of financial,... To our use of cookies parks in the U.S work a full-time job if you do n't meet this you. People has a variety of definitions financial Independence thank you for the Quarter $... And extreme savings and Investment Sethi, author reddit financial independence I will Teach you be! Management at a major firm and had retired just last year I can afford more throughout... Cfa, and new tech/devices or simply stop working altogether fill in the U.S ( )... T just mean sitting on some tropical beach or playing golf all time! Come from very poor families poor families come from very poor families to ) contractors other! Early ( FIRE ) Please fill in the U.S I love travel but that a... That I can afford more trips throughout the year the report will for! Ways to retire while they 're in good health Covid, I realized recently how grateful I am my... 01/21/2021 after market close do n't meet this requirement you can still submit a post for moderator approval by posting... With family unknowingly motivating them to national parks in the U.S approval by simply posting as usual unemployment are... Luck, because I was talking about my situation with a possible `` mentor '' to become independent... The 10 Best reddit financial Independence dentists, and the tax guy should 've caught that proactively that s. Beach or playing golf all the time the $ 10-15m NW range, as … independent Bank is. Pretty much only talk to John and the rest of the author do this independent a... 65, etc type of certifications a relationship with yourself should 've caught that proactively 9 ) Lean Independence!

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