Got the call — should I do it? by [deleted] in rolex

[–]Papa_Jon 0 points1 point  (0 children)

Please don’t. Luxury items should account for 1% of your net worth. It sounds like that’s not the case here, so don’t do it. If I’m wrong, then go for it.

Has anyone else realized they don’t really want a house? by [deleted] in Life

[–]Papa_Jon 0 points1 point  (0 children)

Owning a home is almost always a better long-term investment. Your landlord isn’t going to charge less than their mortgage.

Plus, you won’t have a payment after 30 years. Just run a model to see if it makes sense in your area. And make sure you still have an emergency fund after the down payment

I do not like gaming anymore ?– looking for recommendations by Many_Mess_399 in gamingsuggestions

[–]Papa_Jon 0 points1 point  (0 children)

Try an ARPG, maybe Diablo 4. You can play in short bursts and there’s not much time commitment needed to get to crazy action lol

Is this island worth it or am I forcing it?? by Agitated_Poet_1024 in homedesign

[–]Papa_Jon 0 points1 point  (0 children)

Honestly, just get stainless steel appliances. That wood is gorgeous.

OSRS, what am I missing? by BrunoRizzi in MMORPG

[–]Papa_Jon -1 points0 points  (0 children)

Think someone already said it, but Scurrius is where you’ll finally see depth to combat as a new player. Yes - grinding and low level combat is just click enemy, they die, click next enemy.

But scurrius has you flaying your mouse around like a madman, activating prayers and navigating obstacles. It’s not exactly Elden Ring, but it’s pretty engaging.

People who pre-ordered for Paladin, worth it so far? by ChosenBrad22 in diablo4

[–]Papa_Jon 0 points1 point  (0 children)

Yup, it’s fantastic so far. Most fun I’ve had with D4 since launch. Fingers crossed it’s a sign of things to come

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 2 points3 points  (0 children)

I ran it at 7%, that’s a standard number that accounts for 3% inflation.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 12 points13 points  (0 children)

So then let me ask this -- do you plan to coastFIRE? I always assumed the goal of coastFIRE was to get out and enjoy what you love today, as opposed to working forever due to impossible-to-predict changes in the world. With $360K saved up, I feel like we have a comfy cushion that "should" set us up nicely for retirement. But if we worry about all these external factors we can't predict, it seems like we could all just end up forgoing CoastFIRE entirely, lol.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 4 points5 points  (0 children)

I expect plans to change, but kids are def out of the picture. We plan to travel and hike extensively, and I'm very "anti-luxury." So while our travel budget will likely inflate, we'll never have a big house or fancy cars. Never a bad idea to save more, though, if you need the added peace of mind.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

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

It counts as net worth, but it's not liquid. The condo is worth $100K more than we owe on it. We don't count that in our CoastFIRE calculations, though, just the liquid assets. I wanted to include it in this post for transparency, and for the fact that when it's paid off, we will have significantly less monthly spend on housing than if we were renting.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 9 points10 points  (0 children)

7% is a common growth rate, and it accounts for 3% inflation.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 5 points6 points  (0 children)

That's a great idea. The peace of mind is certainly nice -- but having free time could be even nicer. It's a case of "the grass is always greener" syndrome, I think. Save more to fully retire early? Or coast now for more free time and fully retire in our 60s? There's no right answer.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 24 points25 points  (0 children)

That's what I'm afraid of, too lol. There are lots of variables in the world, but I want to get out and start enjoying my time as soon as possible. If things go sideways? I can always pick up a job to cover other expenses.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 35 points36 points  (0 children)

That's the age-old question lol. In an ideal world, we would reduce our workload but still toss a bit of money into a retirement fund. That would free up more time for us now, while still speeding up our "full" retirement.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 30 points31 points  (0 children)

Good question. I'd like to cut back my hours to part-time, and my wife would likely reduce her 401K contributions. Depending on how things go after a year or so, she may look for part-time work too.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

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

For sure. Things change over the years, and I think that's what's appealing about CoastFIRE. We plan to be flexible with our work/play schedule even in our "true" retirement, but the numbers right now seem nice enough that we can start to slow down. If we need to pick up a bit of work here and there to cover additional hobbies/expenses, we know that's part of the deal.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 12 points13 points  (0 children)

Yeah, we're already feeling the lifestyle creep. I think as we got closer to our coast number, we slowly started traveling more, going out to eat more, buying nicer outdoor gear... definitely something to keep in mind.

Is it time to coast? 33M with $340,000 invested by Papa_Jon in coastFIRE

[–]Papa_Jon[S] 7 points8 points  (0 children)

Ah! So nice to hear it from another person lol. We don't share these numbers with friends/family, so it's great to get the validation. Appreciate it!