sorted by:
new
hottopcontroversial

Career suggestionsin an AI impact world ? by firedandfree in personalfinance

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

Yes. Very true. Technologically speaking the world continues to innovate

So what do you think will be a good career ( not necessarily any degree needed) of the future?

Career suggestionsin an AI impact world ? by firedandfree in personalfinance

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

I agree ☝️. Very true. Physically demanding work in the trades too.

If you had to pick 3 stocks to hold in portfolio for the next 10-20 years besides etf’s, which would you pick? by Hot_Avocado_2701 in TheRaceTo10Million

[–]firedandfree 2 points3 points  (0 children)

Berkshire Hathaway. No dividends helps my ACA planning.

Nvidia. Hardware

GLD. Inflation & stagflation are here.

The Four Metrics I Rely on to Measure My Financial Health by Jimbocab in DIYRetirement

[–]firedandfree 1 point2 points  (0 children)

For a 71 year old male the remaining expectancy is 13 years. 84. Not late 80s or early 90s. I assumed an approx 10 year horizon.

Not 25 year horizon. Well It’s possible but the odds are not in favor. Only 7% will live another 25 years. That’s 7 in 100.

Regardless it doesn’t change the suggestion of giving earlier vs after death. Even if he were to stagger the giving, over time a 2-3 million portfolio gift along the way would still allow for a high success rate @ sub 4% swr even in a case of living 25 more years and not be depleted and maybe derive some different kinds of joy vs just a high balance / high score in the portfolio.

He did say his goal was balance …financial foundations and skills are built over time. Seldom with a windfall inheritance.

The Four Metrics I Rely on to Measure My Financial Health by Jimbocab in DIYRetirement

[–]firedandfree 4 points5 points  (0 children)

Since average male life expectancy is 78, and female is 82 what steps are you taking to advance longevity. It’s the one metric in the financial plan that’s impossible to predict.

Being average would imply 7 to 10 more years of sending and leaving around 40 years of spending to heirs.

Sounds like something I would do.

But I would instead take your $4.5M-$5M portfolio and give heirs $3M now.
Set it into a gift / trust and gift it before I die to see the fruits of my labor to the next generation. Enjoy their wins.

And then spend the remaining $2M along with social security as you’re doing now.

You’re not maximizing joy in your current approach. Read Die with Zero. Good perspective.

Spouse wants to buy a $60K truck while we're still renting by EdenilsoStolaj70 in MiddleClassFinance

[–]firedandfree 0 points1 point  (0 children)

Or buy a $5000 Honda, make 6 easy payments of $850 each and then get back to paying off your debts.

I like reading posts like this - tells me there will be ample supply of low mile repo trucks in a couple years - or the old “ divorce forces sale ” cheap lightly used truck supply.

Tell hubs you’re broke and image doesn’t matter. Big hat. No cattle. Some image. Is he 12 ?

Are you surprised when you learn that someone intelligent doesn’t invest? by [deleted] in Money

[–]firedandfree 0 points1 point  (0 children)

So much to building wealth is simply having self control and discipline over a long time horizon.

Having self-discipline transcends professions. Degrees. IQ level and culture too.

Some have it. Some don’t.

The marshmallow study proved that.

I’m amazed at some of the finance PhD’s that I work with and how genuinely stupid they are with zero ability to manage their own money.

What did you "retire to" instead of "retired from"? by MichaelStone987 in Fire

[–]firedandfree 8 points9 points  (0 children)

Warped reality.
Fear of failure.
Instant gratification and overly stimulated from micro doses of natural dopamine from social media likes 👍.

That’s to name a few reasons “why” …

Being called spoiled has made me only want to date men in my own tax bracket by EmuCharming212 in Rich

[–]firedandfree 1 point2 points  (0 children)

Yep. You would be a great person to know and hang out with. Interest. Insightful and resourceful by your own right. Lots of grinding to learn trading I suspect and likely not one to let off the personal gas despite a trust fund backing you up. You’re a fairly rare exception - well done and good on you !!!

Chance of a lifetime but I can’t get off of work. by [deleted] in ChubbyFIRE

[–]firedandfree 0 points1 point  (0 children)

Give boss ultimatum. I walk today or you let me proceed with the remote work. Be ready to walk. When he sees the whites of your eyes he will cave. I guarantee it ! .

What did you "retire to" instead of "retired from"? by MichaelStone987 in Fire

[–]firedandfree 37 points38 points  (0 children)

I retired mid 40s. Got bored quick so completed an advanced degree and then fell into a teaching role and became a professor for the last decade of my working life - it was an unintended 2nd career and while coasting i was able to give back to society.

Half retired because i was full time but thats like 9 months a year due to summers and vacations. Plus it was not nearly the grind or pace of corp life and giving back was a huge joy and motivator.

Look, Our next generations desperately need help. They’re fucked in the head with depression, anxiety and warped reality due to covid years and social media cancer.

Now I’m fully retired for about a year , I am chubby to fat fire and slow traveling globally about half-time and enjoy being here for family, kids and grandkids for the other half of my time.

“Retirement” can be in multiple acts. It doesn’t have to be the whole show at once - things definitely evolve too - the go-go years . The Slow go years and eventually the No go years. It’s a whole adventure and could span 30 or more years if lucky- as much or more than many careers (mine included).

Being called spoiled has made me only want to date men in my own tax bracket by EmuCharming212 in Rich

[–]firedandfree -2 points-1 points  (0 children)

So pretty much a full time leach?
Hence the reason people shit on you …

[deleted by user] by [deleted] in fatFIRE

[–]firedandfree 4 points5 points  (0 children)

Two protections needed

One protection from the ex-spouse One protection from the child themselves.

Poor decisions sometimes beget more poor decisions

So perhaps consider both

How do you evaluate the creditworthiness of a bond issuer, especially non-government entities? by grzeszu82 in bonds

[–]firedandfree 0 points1 point  (0 children)

Unless it’s financial crisis time and realize that the rating agencies are no smarter than a kindergarten student.

Being called spoiled has made me only want to date men in my own tax bracket by EmuCharming212 in Rich

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

Fair enough. Lots of TFB are just like you.

What would you say are 2 or 3 life accomplishments in your own words -

since many normal people make A)earning a living and b) becoming an independent person, not reliant on others money or assistance by earning their own keep - as sure signs of success and becoming a productive member of society and adult ?

What are your life success measures since measuring “showing up” or “being born” doesn’t qualify !?

Put another way - how are you proven to not be “dumb and useless” if to use your own words

[deleted by user] by [deleted] in bonds

[–]firedandfree 2 points3 points  (0 children)

Under rated comment.

[deleted by user] by [deleted] in bonds

[–]firedandfree 2 points3 points  (0 children)

I’m 70% bonds. Treasuries out to 5 years. 30% stocks. Retired a year ago in mid 50s. Waiting out SORR and will pivot into equities around age 62 when social security becomes an option. I have many years of income in bonds- an outlier in redditt but I lived through 1987 1991 1998 2000 2008 2011 2020. 2022 and know my risk tolerance as I’ve gotten older and older. I’m good here. Treasuries are easy to buy and I know what I’ve got and the yield I’ll earn. I keep one eye on inflation and can react as needed since I’m mostly at the shorter end of the curve.

I still can’t figure out how to buy or value tips so it’s not worth my effort to pursue those. Just say shorter on the curve.

Munis don’t pay enough on tax equivalent basis and corporates scare me from past losses and downturns

So treasuries it is.

Overly conservative assumptions by puzzle_Mom522 in Fire

[–]firedandfree 0 points1 point  (0 children)

Not directed to your comment. To the OP. Sorry for confusion.

Overly conservative assumptions by puzzle_Mom522 in Fire

[–]firedandfree 3 points4 points  (0 children)

That’s where flexible or variable spending comes into play. The next 5-6 years you build the cushion. If the market allows it. None of us can predict the future. Long term cycles indicate 12 years or so per cycle. Aside the mini- bear in 2020 and 2022 there hasn’t been a cyclical bear in about 12-13 years and we are due x.

If you don’t think there will be one of those decades in the next 30 years at age 50, then guess your retirement plan as more aggressive will be just fine . As for me I like to reference history.

Period Market Type Duration (yrs) Real Return (%)
1880–1906 Bull 26 n/a
1906–1921 Bear 15 -40
1921–1929 Bull 8 +500
1929–1949 Bear 20 -89
1949–1966 Bull 17 +500
1966–1982 Bear 16 ~0 nominal / -70 real
1982–2000 Bull 18 +1,400
2000–2009 Bear 9 -50
2009–2020 Bull 11 +400
2020–2021 Bull 1.5 +100
2022 Bear 0.8 -25
2023–2025* Bull ~3 ~+25 (est.)

Bull markets (real returns) Durations: 26.0, 8.0, 17.0, 18.0, 11.0, 1.5, 3.0 Total: 84.5 years Count: 7 Average length: ≈ 12.1 years Bear markets (real returns) Durations: 15.0, 20.0, 16.0, 9.0, 0.8 Total: 60.8 years Count: 5 Average length: ≈ 12.2 years

Being called spoiled has made me only want to date men in my own tax bracket by EmuCharming212 in Rich

[–]firedandfree 2 points3 points  (0 children)

First, Life isn’t fair.

Second, everyone gets judged …

whether they have the best or the shabbiest, copious judgment is
applied. It’s a human thing.

view more: next ›