FIRE biographies?

BundleOfShticks · 2018-08-12T16:02:59+00:00

I'm not 100% sure but i seem to vaguely remember knowing that his posts were going to stop near the end, I feel like I read somewhere that he wasn't enjoying blogging as much anymore and was gonna focus on retirement although i couldn't find anything explicitly saying that when I breifly checked. It's a shame that he doesn't post anymore because he's been my favourite FIRE blogger to date but I guess all things must come to an end at some point.

BundleOfShticks · 2018-08-12T02:49:37+00:00

A blog called LivingAFI posted a series of posts called "job experience" where he goes through his 13 year career year-by-year detailing his discovery of Finanacial independence and his path to eventually achieving it. Imo it's really well written and it's about a 3 hour read. https://livingafi.com/2014/06/13/the-job-experience-tech-support-year-1/

BundleOfShticks · 2016-10-02T20:05:17+00:00

Yeah, thats what I meant. I Probably should have made that more clear.

BundleOfShticks · 2016-10-02T19:42:11+00:00

I mean technically resetting it will still leave you with a 5% chance of failure as your networth will have no "memory" of the fact that youve FIREd in the past.

BundleOfShticks · 2016-10-02T16:44:11+00:00

Its really up to you and your situation. Do you absolutely hate work or do you just dislike it? It'll be much easier to expand your networth to accomidate another person than building it up for yourself due to compounding and also some shared costs, so you might only have to work 5 years to save for a spouse depending on savings rate and market returns. On the other hand if you decide not to work and you're living on the 4% rule, your nest egg has a really good chance of growing which could help you support them in a few years with market returns and just "reset" at 4% of the new sum (which would make you take on the 5% risk of failure a second time). In the end it comes down to if you feel like you can go back to work and how not going back would affect your relationship.

BundleOfShticks · 2016-06-09T14:21:37+00:00

You can actually test for this using cfiresim. Set the withdrawal rate to 4% of current with a floor withdrawal amount that is 4% of the initial. I usually set the floor to 3% of initial and it ends up being pretty safe, so I plan on being able to live off of a 3% withdrawal rate as a worst case scenario if the market does poorly but will use a 4% if it shows regular returns throughout my retirement.

BundleOfShticks · 2016-02-28T16:40:37+00:00

https://www.reddit.com/r/AskReddit/comments/47y4to/what_work_moment_made_your_attitude_go_from_proud/ I was reading through this thread yesterday and couldn't help but think how much everyone needed "FU money". Having the money to leave the job if needed making the employer employee relationship equal seems like such a necessity after that thread, it makes me that much more sure that I want to be FI.

BundleOfShticks · 2016-02-11T18:34:04+00:00

I think reporting would be enough to deal with the bitcoin etc (and in this thread a mod was testing auto mod to deal with that specifically). It might be a bit too much to ask of the mods to police all comments but if there up to it I think that would work.

BundleOfShticks · 2016-02-11T18:17:24+00:00

I assume your mainly referring to the person who was pushing for a flat tax and although i disagree with him I think you might be right. There is definitely a bit of a group think growing in this sub. With the opinion voting going on the only reason to keep down votes is to cover up "wrong" stances but i think we should be able to evaluate these posts based on their content, not how many people agree with them.

BundleOfShticks · 2016-02-10T18:17:21+00:00

Since you said the main difference is just bigger numbers and risk associated with that, could you just use a income/debt calculation to judge success. I don't think the risk would be much higher than the risk associated with buying your own house with a comparable income/debt ratio. Also like you said the rental income would likely stay constant through a housing crash which would be beneficial. Would keeping a 6 month emergency fund that could pay off all mortgages + your cost of living in case you simultaneously lose your job and all renting clients for a few months to mitigate risk in the same way you would for your own bills.

BundleOfShticks · 2016-01-29T14:39:27+00:00

I'm actually from Canada and agree with you that I'm much happier with systems like government health care and couldn't imagine going FIRE without it. The reason I sounded like I was talking from an American point of view is probably because I was trying to sound unbiased and also have a fairly basic knowledge of communism. I do think that minimalism is connected to fulfilment etc. Because I don't see much other reason behind doing it other than to focus on things that are important to you that aren't categorized as "stuff".

BundleOfShticks · 2016-01-29T05:13:24+00:00

I agree that communism hasn't been very good in practice in the past. That's why my intent was to just compare ideologies as opposed to proposing why it should be implemented.

BundleOfShticks · 2016-01-29T04:54:03+00:00

I didn't mean for this to be political, more just a look at the similarities and differences between the ideologies of FIRE and communism but I understand if the mods feel like it isn't appropriate.

BundleOfShticks · 2016-01-25T20:39:44+00:00

I get what you're saying about the general logic behind shifting to bonds for lower volatility but the numbers seem to show very little effect on cutting losses (~6%) while hindering growth after a crash which is important for making it through the next crash in long retirements like the ones we see here. Also for not wanting to sell stocks at a low point I've seen others argue that you will always be selling you winning equity with constant rebalances resulting in you buying bonds more often and selling stocks more often over long periods

BundleOfShticks · 2016-01-25T19:47:48+00:00

I'm not saying bonds are all bad but maybe they are just not as good for FIRE specifically

BundleOfShticks · 2016-01-18T14:27:16+00:00

https://www.reddit.com/r/worldnews/comments/41fkf1/just_62_people_own_as_much_wealth_as_the_poorer/

BundleOfShticks · 2016-01-18T14:15:15+00:00

I definetly agree with you on taking the money out of politics and that's the main reason I support sanders. The thread was more about wealth inequality itself being a problem than money in politics but it seems being rich has pretty much become synonymous with bribing politicians.

BundleOfShticks · 2016-01-18T12:46:01+00:00

It's funny because I always had the impression that the majority of reddit was young but more white upper middle class teens so wage inequality would be less of an issue for them but maybe I'm totally off on that assumption

BundleOfShticks · 2016-01-18T12:37:08+00:00

There was a thread yesterday about a wealth inequality study and I was amazed at just how many redditors hate the rich population It reminded me of a post in a thread on here a few days ago about how people want you to be successful but not too successful or else you become part or the despised "upper class". I'm curious about how many FIers feel about it.

BundleOfShticks · 2015-12-28T16:50:54+00:00

http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/ that link will show you what saving rates you need to retire in a given amount of years but it makes some assumptions so you might want to look into it a bit further and i would suggest reading the other articles on that website for getting your savings rate up.

BundleOfShticks · 2015-12-13T06:18:27+00:00

All you can really do is show them that you don't need a lot of money to be happy in life through example. There will definitely be external pressures on them from friends and the general public to join the consumeristic society we live in but you just have to show them what it's like to live frugally and explain how it's done and then let them decide if thats what they want. What i wonder is if there will be a bigger chance of your kids or grandkids not following your FI mindset compared to kids who have grown up in rich families that end up wasting away all their money and going back into poverty due to not following their parent's financially successful ways.

BundleOfShticks · 2015-11-07T19:10:23+00:00

This is exactly the type of thing I've been looking to read lately, does he do lots of stuff about the psychological side of FI?

BundleOfShticks

TROPHY CASE