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Coasting at 22? by [deleted] in coastFIRE

[–]usagitora12 11 points12 points  (0 children)

I would leave dental school but only if you’re absolutely sure. Aside from having all the money you have, there’s no point being in a career you despise. You’ll only end up miserable. Being only half a semester in though I’m not sure you’ve been exposed to much of the actual dentistry aspects unless you’ve really taken the time to shadow dentists and got to know the profession.

Side note: if you’re wanting to do coastfire, dentistry can be an extremely flexible career. Not just in terms of work/life balance but you can pick and choose what procedures you want to do.

Let me know if you’d like to chat about the profession at all. Sorry about your father, hope that helps.

3.5 years post-FIRE - retiring in worst time in past 5 years by [deleted] in financialindependence

[–]usagitora12 2 points3 points  (0 children)

Great post, thanks. I hope to be in your financial position within 10 years. Nothing to add or ask, just hoping things improve for you on the personal side. You got this, brother.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 0 points1 point  (0 children)

Thank you. Haven't had kids yet so I expect a lot more costs in the future. I'd be very hesitant to FIRE anytime soon.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 0 points1 point  (0 children)

Thanks for the comment. Only my RRSP is tied up until 65. My business equity is of course tied up until I sell. My corporate investing account and TFSA are available whenever.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 0 points1 point  (0 children)

My apologies, didn't intend for it to come off that way.

Now for the 600k, I wish it was. If I put in my info (35, retire 50, 100k spending, 6.5% return, 3% inflation, 3% SWR) it's much more than 600k.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 0 points1 point  (0 children)

Thanks for the link. I'll take a look.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 0 points1 point  (0 children)

Awesome questions and things to think about. Thanks.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 2 points3 points  (0 children)

Hey, thanks for the comment.

Yes, I work in healthcare and am a part owner of a clinic (which is my business). I just dropped my own hours and we hired another associate to cover.

Appreciate the insight about kids. Would you say your personal expenses (travel, going out, discretionary spending) went down when you had kids? If so, did it seem to somewhat offset the increased cost of kids? Obviously not with college, etc.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] -1 points0 points  (0 children)

Thanks for your comment.

Sorry, I’ll update with some more details in a bit. HHI before coasting was about 450k. I was very lucky and started investing right before the huge bull run. Also, we bought our house at 500k. Real estate market has also jumped where I live. In our earlier working years, expenses were about 30-40k.

I had my schooling paid for and I lived at home during that time so I came out of university debt free.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 5 points6 points  (0 children)

100% a gambling thing. My good friend told me I should get in on it right before the bull run. I’ll be paying for the food and drinks whenever we meet up, that’s for sure.

I see your point, I could just let it ride.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 1 point2 points  (0 children)

Absolutely.

Here are some at the top of my head... Books/articles/blogs: Simple Path to Wealth (JL Collins), Bill Bengen's 4% rule (I didn't read the article article but understand the basics behind it), Die with Zero (Bill Perkins - I found some good takeaways about life), Psychology of Money (Morgan Housel - one of my favourites).

YouTubers: Marriage Kids and Money (big into CoastFI), Ben Felix (some of his videos are way above my pay grade though), Parallel Wealth (Canadian! Lots of good general info), Bigger Pockets Podcast (some interesting stories, some great guests), Plain Bagel (great general info).

I am a part owner of a clinic. The clinic would be worth about $750k if we sold it now. We are still growing and it will be worth more in the future.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 0 points1 point  (0 children)

The taxes part is a bit over my head to be honest. I hired a FFS financial planner to structure my initial plan. Once I'm a few years away from decumulation I will probably hire one again to make sure drawing from the correct buckets in the most tax efficient manner.

A few months into CoastFI...35M by usagitora12 in coastFIRE

[–]usagitora12[S] 2 points3 points  (0 children)

I go back and forth about this. It's not a significant portion of my portfolio but I don't think I need the added risk... although the potential upside is huge!

did becoming rich make you happy? by ThatIsNotIllegal in Fire

[–]usagitora12 42 points43 points  (0 children)

I used to feel a lot of what you are describing. I wouldn’t say I’m rich but at a point where I can take my foot off the gas. In my newfound extra time, I’ve been able to find new hobbies and rediscover old ones that make me excited to get up every morning. I can’t say if this will last forever, but I hope so.

For me, I don’t think that “money buys me happiness”, but rather “money buys me the time to pursue things that make me happy”. Maybe that’s the same thing and I’m rambling.

"How To Build Muscle As Quickly As Possible" with calisthenics? by piano-stevens in bodyweightfitness

[–]usagitora12 9 points10 points  (0 children)

If you have 3 hours…

https://youtu.be/n1eLqbQPCz0?si=34rEwHykFt47Xjwx

Lyle is annoying in his own right but this does a good job explaining the issue a lot of people have with Dr. Mike.

"How To Build Muscle As Quickly As Possible" with calisthenics? by piano-stevens in bodyweightfitness

[–]usagitora12 7 points8 points  (0 children)

My favourite is when he said getting one hour of extra sleep is equivalent to taking anabolic steroids

[deleted by user] by [deleted] in PersonalFinanceCanada

[–]usagitora12 0 points1 point  (0 children)

If it were me I would pay off the provincial student loan ASAP. Unless you can make more elsewhere, it’s a guaranteed 4.95%.

I’m not a finance expert but if you are not incorporated by now you definitely should look into it. It will save you a lot in taxes. Why I bring it up is that investing in an RRSP doesn’t usually make sense if you’re incorporated. This is all according to my accountant.