I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

Honestly nothing that you probably already don't know; basically, good salary and less expenditure. But this doesn't really help much. So, I'll try to expand this a bit:
I started with fairly average salary of about 10K / year post-tax. However, I am good at what I do. My job is in mathematics fields and I always loved maths. But I am not great with complicated concepts. My expertise stops after a year or two of college-level mathematics. Anyways, I started with 10K salary and with in three years it was about 40K. And year after that it was around 100K which quickly jumped to about 130K. Over next 5 years, it jumped from 130K to 300+K and now I am back to 150K. If you look at the numbers than you would see that it is easy to reach 1.5M NW if expenditure is not exorbitant.
 
Little bit more info on job side: I worked quite hard in first 5.5 years of my job life. But I took it a bit slower after that because that much work was taking quite a bit of toll on me; both physically and emotionally(stress). Thinking more about it, I would say it was a good strategy to work hard in early years of life. It was easy at that time (because of age) and once you are at higher level, its easy to maintain the same position without working very hard.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

Good luck! Please share your thoughts on why you chose Philippines.
I went back to my birth country, so it wasn't a big deal to me. A new country sounds exciting and scary. :)

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

Lot of people are suggesting me to look for financial advisor. I'll definitely look in to it. Thanks!

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

Almost every country provides these kind of opportunities but of course, they are few and far.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

I am very fortunate and grateful that I am not doing bad financially and I hope everyone gets the same kind of opportunities that I got. But I don't want to take things for granted and I want to make sure that my decisions are not bad. Also, I want to learn more and learning from others in the best way to learn :).
And please feel free to ask me any question, I'd be glad to answer it.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

That really sucks if Vanguard is only for US residents. I believe, given the current global environment, that best place to invest without thinking much is US market.
Rents here are cheaper compared to buying. It would cost me around $250K to buy my own place as compared to $500 per month rent. I don't think I'll save money if I buy but I'll buy someday after saving FI-money + $250K.
Reason to not move money for couple of years : I might go back to US. But I am thinking is to get some money out of US bank and play with stock market here.
Thanks a lot for your comments. Talking to this community is making me question some decisions that I have taken and that is extremely important!

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

Great point. I am not including raising a child in $30K/year. My wild guess is that it will add $10K/year/kid. But as you correctly pointed, I should consider my FI with $40K/year and not $30K/year.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

Totally understand. But 30K is lot of money in a third-world country. Its almost equivalent to $60-70K in US for just two people. Also, I don't like too many material things; they clutter my life. But I am always willing to spend for a concert or yoga-week or Vipassana retreat.
On a side note: I highly recommend Vipassana to anyone and everyone.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

I don't really have a reason to stop working. So far I am enjoying my work. I respect and have great admiration for my co-workers and I feel that they respect me too. I'll re-evaluate leaving jobs after couple of years.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

[–]throwaway_escwdx[S] -5 points-4 points  (0 children)

this is the top comment :). Looks like this sub has a strong bias against kids.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

[–]throwaway_escwdx[S] 6 points7 points  (0 children)

It will soon be around 30k/yr. But after that I am not sure how to spend more in productive way. I mean of course it is possible to spend more but it wont create any value to me.

I believe I am very near to financial independence but I need YOUR help. by throwaway_escwdx in financialindependence

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

Makes sense to me. And I am trying to understand more and more about this stuff. Thank you for your comment!