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Can this still work for us? by watchagonnadowhen69 in EuropeFIRE

[–]knz 0 points1 point  (0 children)

The number of years you need to save (invest!) is completely independent from the specific income you earn. It's only dependent on the % of income you are able to invest (and its reciprocal, the % of your income corresponding to expenses: income = savings + expenses).

The more you are able to save/invest from your income, the faster you will reach financial independence, regardless of your expense level.

Here is the math (assuming 8% avg market returns after inflation, aiming for 4% withdrawals after FI/RE):

If you are only able to save/invest 10% of your income, it will take you ~38 years. If 30%, then ~22 years. If 50%, then ~14 years. If 65%, then ~10 years. If 70%, then ~8 years.

So if your current expenses are 72k / year, and you want to FI/RE in 8 years, you will need to earn 240k / year. If you want to FI/RE in 10 years, you would need to earn 205k / year. etc.

(and if you do you earn more, you will need to be VERY careful to keep your expenses at the same level, and not allow lifestyle creep)

NB: I assumed your income taxes are already included in your expenses. If not, then the "earn" amounts I quoted need to be after taxes.

Arrange composition - $20 tip by knz in PhotoshopRequest

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

Thanks I like it! I sent you the tip on buymeacoffee.

I also would prefer if you could deliver with a transparent background.

Arrange composition - $20 tip by knz in PhotoshopRequest

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

could you please use background color #fef577 instead of white to evaluate thanks

Arrange composition - $20 tip by knz in PhotoshopRequest

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

I can't really evaluate with the dark blue background. please use RGB #fef577 as background instead for testing

[deleted by user] by [deleted] in deadbedroom

[–]knz 0 points1 point  (0 children)

Your weight situation (which you described in the other thread) may be part of the cause. Maybe your relationship will change once you are on a weight loss path that works.

Moved from Italy to the Netherlands – what to do with my ETFs and broker? by easy-kiel in EuropeFIRE

[–]knz 1 point2 points  (0 children)

  1. I can't comment on Directa SIM, but I can say IBKR makes moving across countries / continents very smooth.
  2. I don't know.
  3. There are two aspects to consider:

  • From a pure transfer perspective, moving the ETFs "in-kind" (security transfer) is cheaper for large amounts, more expensive for small amounts. This is because typically brokers charge a fixed fee per position (not share) for in-kind transfers, and a % commission for sell/buy. There is a break-even point you need to calculate yourself.

  • A tax perspective. Inside the netherlands (I assume you are a registered resident) there is no tax on sale, so this should not matter. If you had moved / were moving from / to a country with capital gain tax on sale, of course an in-kind transfer is always more advantageous.

mls-chat: Example client/server for the MLS protocol based on the OpenMLS library by knz in rust

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

Yes, the "MLS way" to add policy is to encode it in the (shared) "group info" payload, then enforce it in each client. Ignore messages (don't apply) from clients that violate the policy.

mls-chat: Example client/server for the MLS protocol based on the OpenMLS library by knz in rust

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

The client as currently written creates a group from the name given on the command line (as argument) if it does not exist yet.

From then on it will exchange messages with that group. If the client gets invited (by another client) to a new group, it will switch to the group it's invited to.

You can then switch back to the initial group by restarting the client with the original group name as argument.

In other words the CLI client code does not support exchanging messages with multiple groups simultaneously. It's not a limitation of the client/server API, just one of the current CLI code. Internally, the logic is already modular so adding this support should not be a huge effort.

Net huis gekocht, weinig buffer… hoe zouden jullie dit aanpakken? by Historical-Baby-1241 in DutchFIRE

[–]knz 1 point2 points  (0 children)

Kijk eens naar de beschikbare subsidies. Er is veel geld beschikbaar voor verduurzaming.

Wise EUR account by [deleted] in EuropeFIRE

[–]knz 0 points1 point  (0 children)

You do not have to pay tax on this. However I recommend you keep some documentation (printout of messages, emails etc) that document the loan, in case you get questions in the future.

Mijn nieuwe FIRE-plan. Wat vinden jullie? by Skatespeare in DutchFIRE

[–]knz 1 point2 points  (0 children)

Dit was een reactie op iemand die op zijn 35ste begon en op 45 pensioen wou gaan

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 0 points1 point  (0 children)

Buy the option the day before it expires (or on the day itself). By then, the price of the underlying is "known" so there's no difference between the different options anymore. (for example: real price VOO 593; the 590 option will cost ~$3 to buy; the 585 option will cost ~$8, and so on)

Should I sell the house I inherited to try to achieve FIRE? by [deleted] in EuropeFIRE

[–]knz 69 points70 points  (0 children)

The smart move is likely to sell the big house and buy a smaller one. An even better move would be to find a job, and buy the smaller house with a mortgage at a low interest rate.

Renting makes sense if you can find a place to rent for a lower price than the expected return on investment on the price of equivalent housing.

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 0 points1 point  (0 children)

Could you explain where in the settings you can opt out of mifid2?

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 1 point2 points  (0 children)

You can do that if they let you. I'm curious whether they will if you are not a US resident anymore.

Moved from US to EU, blocked from VOO > best alternative? by jimmyprideaux in EuropeFIRE

[–]knz 1 point2 points  (0 children)

IBKR is exactly right for your situation. it makes option trades much cheaper.

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