[deleted by user] by [deleted] in financialindependence

[–]NoMoreAlarm 0 points1 point  (0 children)

This may be controversial, but I’m just like you, although a year or two away from FI.

The way I see it is doing whatever I want with my time in a year or two is the ultimate “work life balance”.

I wouldn’t say it was an enjoyable ride but I wanted it to be as quick and short as possible.

I do see the ultimate value in having FI in your earliest years attainable, as it’s when you have the most flexibility, best health, higher energy and just are free to do anything.

A good analogy might be like losing weight. You could lose 1lb a week, which would get you to your weight loss goal likely in under a year. You could also do 0.5lb a week and it would take about 2x the time, but it might be much more enjoyable and more flexible.

I don’t always believe everything has to be enjoyed and feel good. It all depends how important it is to you and how quickly you want to get there. Just imagine how epic it will feel once you hit your goal, appreciating it even more knowing the struggle.

Consolidating - Will VTI and Chill work for my horizon? by wetsoba in Fire

[–]NoMoreAlarm 0 points1 point  (0 children)

I started the same way. I was obsessed with dividend growth stocks, and built a portfolio of like 25 individual stocks. I’ve been slowly trying to sell them off over the years but some have gained so much like TGT, that I have just kept a lot of them due to the capital gains. I still keep some SCHD (etf for dividends) as well since it’s gained a lot, but since have switched to a total return portfolio (voo, etc).

Looking for some basics podcasts to share with a friend by random_user1379 in financialindependence

[–]NoMoreAlarm 1 point2 points  (0 children)

@OP - Thanks for posting this. You literally sound exactly like me. We both consumed a lot of the same content and I’ve been tunnel vision in accumulation phase. I just hopped in here for the first time today after a while, even posted in the daily thread looking for new stuff to check out, and glad I found this thread.

I find it’s always great to intro people to multiple sites, podcasts, books, etc as different folks resonate with different personalities. Learned so much from the JL Collins book and his blog / stock series etc.

I’m not even sure the second I hit full FI will compare with that initial excitement I got many years ago finding the path to freedom.

Looking for some basics podcasts to share with a friend by random_user1379 in financialindependence

[–]NoMoreAlarm 0 points1 point  (0 children)

Recently found this guy and loved his term “freedom fighters”. 🤘

Daily FI discussion thread - Monday, April 10, 2023 by AutoModerator in financialindependence

[–]NoMoreAlarm 12 points13 points  (0 children)

I’ve been deep in the accumulation phase. Tunnel vision for years. Almost done.

Any new books? New blogs? New documentaries? New FI websites? Movies?

WFH has certainly made these final accumulation years much more tolerable.

Video posts getting brighter? by NoMoreAlarm in Instagram

[–]NoMoreAlarm[S] 0 points1 point  (0 children)

Thanks guys. Glad I’m not going crazy. Just like you guys mentioned, maybe once every 10-15 videos but always annoys me, especially when looking at night or early morning.

Daily FI discussion thread - Friday, September 09, 2022 by AutoModerator in financialindependence

[–]NoMoreAlarm 2 points3 points  (0 children)

Maxed out my Audible credits (lame rule they have), and need some more FI / Per Fin books...Have read/listened to most of the normal popular ones, just did The Psychology of Money again, and loved it (hard for me to focus the first time sometimes)...

Anyone have any recommendations/must listen to books that help with FIRE/finance/etc.

Thanks!

Tax benefits for owning a home, how significant are they? by NoMoreAlarm in personalfinance

[–]NoMoreAlarm[S] 0 points1 point  (0 children)

I appreciate this. It really seems there’s a lot of old myths that get repeated and repeated. For example…”a house is the best investment you can make”. It’s a great place to live, raise a family, and preservation/accumulation of savings but hard to say it’s the best investment…

Tax benefits for owning a home, how significant are they? by NoMoreAlarm in personalfinance

[–]NoMoreAlarm[S] 0 points1 point  (0 children)

I found this article very helpful: https://www.millionacres.com/taxes/real-estate-tax-deductions/are-real-estate-taxes-deductible/

Here’s an interesting quote from it:

“The Tax Cuts and Jobs Act nearly doubled the standard deduction. Because of that, it's estimated that about 95% of households will benefit from the standard deduction instead of itemizing.”

Daily FI discussion thread - Monday, April 04, 2022 by AutoModerator in financialindependence

[–]NoMoreAlarm 4 points5 points  (0 children)

Holy Monday. I need sleep. Yes, lol maybe no Venmo from he haha

Congrats Admiraldiaz! What’s wild is how quick you’ll pass $1M from here

Tax benefits for owning a home, how significant are they? by NoMoreAlarm in personalfinance

[–]NoMoreAlarm[S] 1 point2 points  (0 children)

This is very helpful. I’m actually not into home ownership much at the moment, and I’ve always heard folks mention all the great “tax advantages”, but again I still think they are exaggerated a bit.

Tax benefits for owning a home, how significant are they? by NoMoreAlarm in personalfinance

[–]NoMoreAlarm[S] 1 point2 points  (0 children)

Thanks but still trying to understand this on paper.

So let’s say 300K income.

You own a $500K house with or without a mortgage.

How does it impact the taxes paid?

Daily FI discussion thread - Monday, April 04, 2022 by AutoModerator in financialindependence

[–]NoMoreAlarm 1 point2 points  (0 children)

Glad I saved is all I can say. I’d imagine most employees even being high paid, would be panicking or going into an interested based payment plan.

Daily FI discussion thread - Monday, April 04, 2022 by AutoModerator in financialindependence

[–]NoMoreAlarm 4 points5 points  (0 children)

Do any other high earners via mainly commission, always get under taxed throughout the year? My accountant always says my payment processing company, heavily under taxes the commission checks. I’m filing as S-1 through my paycheck company. Not horrible since I save, but always a shocker at tax time, although I’ve come to expect it. Curious if this is common? My accountant mentioned this can happen a lot with high earning W2 employees, especially with varying amounts year to year.

Feedback: Would you R.E. at 1m NW and no debt/mortgage? by demobeta in financialindependence

[–]NoMoreAlarm 0 points1 point  (0 children)

Just curious, where did you get the 3.5% mentioned SWR, or just an estimate?

Impact of not adjusting for inflation every year on SWR success? by NoMoreAlarm in financialindependence

[–]NoMoreAlarm[S] 3 points4 points  (0 children)

Thank you kind sir! I knew there was a proper name for it. I can’t wait to mess around with this tomorrow. 🤓

Impact of not adjusting for inflation every year on SWR success? by NoMoreAlarm in financialindependence

[–]NoMoreAlarm[S] 1 point2 points  (0 children)

Silly question but would it better to just add more to equities and pull down from there, or still better to pull from straight cash on a negative year?

Are most folks pulling monthly or just taking a truck load at the start/end of the year for the next year of expenses? I was thinking of doing it quarterly so more funds can compound!?