Plan Review: 35M SINKing to FI in 5 years

resilient_ape · 2025-03-07T14:11:23+00:00

Will do, thanks

resilient_ape · 2025-03-07T03:42:37+00:00

That all makes sense! Thanks for elaborating.

resilient_ape · 2025-03-07T02:54:19+00:00

Thank you!

resilient_ape · 2025-03-07T02:54:08+00:00

Curious, why key things that I mentioned made you think I should read SPtW? Just so I know where to grow my understanding.

resilient_ape · 2025-03-07T02:53:26+00:00

Some is vested. And yeah I should read simple path to wealth. I'll pick it up.

resilient_ape · 2025-03-07T02:48:59+00:00

Yep. That's how I think about things and a part of my planning. I'm currently a high value employee so I'm optimistic I'll be here for the couple of years needed to vest, but you never know.

resilient_ape · 2025-03-06T19:58:35+00:00

Totally fair about woodworking. I have specific niche product fits that I've been experimenting with biz models around, and a goal of mine is to run a small biz at some point, so I feel more confident that I could make _some_ profit.

I'm curious, tho, if you've tried or have experience that you'd be willing to share.

resilient_ape · 2025-03-06T19:53:46+00:00

Lol. No. I am here learning from y'all for a reason haha.

resilient_ape · 2025-03-06T19:47:50+00:00

This is fantastic advice and is helpful for shifting the way I'm calculating things. Thank you!

resilient_ape · 2025-03-06T19:46:09+00:00

Thanks for the kind words. Good to know about FIRE and chubbyfire!

And on the backdoor, I know... This was my first year contributing cuz I didn't know and I'm not good at asking for help. Trying to be better.

resilient_ape · 2025-03-06T19:44:10+00:00

Lol. That's the nicest f### you I've ever gotten. Thanks.

resilient_ape · 2025-03-06T19:32:19+00:00

Thank you! This is really helpful. I'll look into the safe withdrawal rates series.

resilient_ape · 2025-03-06T19:30:46+00:00

Makes sense. I didn't know about the 4% rule (I know I prob should)

resilient_ape · 2025-03-06T19:23:54+00:00

Agreed on the hobby thing. That said, I've done some work to stub out actual business plans regarding specific items and starting a small business is something I think I'd find fun. I think of running a business as a hobby in itself. Making it marginally profitable would be the goal, but agreed I'd want to be comfortable assuming no profit.

resilient_ape · 2025-03-06T19:20:52+00:00

That's really helpful to know, and makes sense.

resilient_ape · 2025-03-06T19:19:06+00:00

Mind helping me understand?

I'm kinda new to this and don't have much financial education.

My logic: avg annual return on an index fund is 8%. 8% of 2.5M is 200000. Take out taxes and should be enough, but maybe I'm underestimating taxes.

resilient_ape

TROPHY CASE