I normally end up saving one of my paychecks post tax (~5500). The first one goes towards rent, food, and other miscellaneous things while the other normally goes entirely into my savings (my 401k, HSA, and IRA are all maxed out, and I have no debt). Should I be pushing for more? I dont zero-base budget, largely because I like to travel a fair amount and it tends to be somewhat unpredictable. What can I do to get into a better position? I’m 27 if that matters, and I’m considering bschool.

like
Posting as :
works at
You are currently posting as works at

🙄

likefunny

If you want to get in a better position save more and spend less.

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What is your gross salary to put $5500 to post tax savings? Just asking to see what it takes to be there.
Single or from combined income?

like

180k, single. Live in TX so no state income tax

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This is a pretty personal decision, but if you’re putting ~30k into tax advantages and then another $65k additional into taxable and your net is only $130k, I would enjoy the rest.

Seems like you’re in the 40%+ of gross land - that is already quite high.

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Cool, thank you!

You can also look into MBDR

Sadly it was offered at my old company (Microsoft) but not at my new one

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Help please!!!

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May I know, how many rounds of interview Deloitte has for the role of Data science consultant?

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𝑨𝒍𝒆𝒓𝒕: 𝑬𝒓𝒓𝒐𝒓 𝑰𝒏 𝑻𝒊𝒎𝒆 𝑺𝒉𝒆𝒆𝒕 - "𝒀𝒐𝒖 𝒄𝒂𝒏 𝒐𝒏𝒍𝒚 𝒂𝒅𝒅 𝒆𝒎𝒑𝒍𝒐𝒚𝒆𝒆 𝒔𝒆𝒍𝒇-𝒔𝒆𝒓𝒗𝒊𝒄𝒆 𝒕𝒊𝒎𝒆 𝒅𝒂𝒕𝒂"

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Additional Posts in FIRE Financial Independence Retire Early

New to investing. I want to open a Roth IRA and put 3000$ in to buy VTSAX. My plan after that is to contribute 200- 300$ at the end of each month. Is that how you guys do it? Do you watch the market and buy on a specific day when the market is low or do you just pick a day of the month- lets say every 30th day of the month to add to your acct? Thanks

like

Is contributing to an HSA better than a taxable brokerage in CA?
(where HSA contributions and gains are not protected from state tax)

Or only superior if I avoid taxes in HSA via Treasury notes/IBonds?

like

Do people tend to age out of wanting to FIRE?

In your 20s-30s, you don’t know much, you’re told what to do, you have few financial resources so you are tied to your job. Under these circumstances it makes perfect sense why you would want to FIRE asap.

But eventually you advance up the ladder, you are now the boss and your people do all the grunt work. You also have built up expertise which makes the job easier. And you are making the best money of your life. FIRE is no longer so pressing.

likesmart

How much is your emergency fund? My husband and I are DINKS with 5K monthly expenses but (because we are very privileged) live near family who could help us if something happened. We only keep 5K in our emergency fund because I want to invest as much as I can in index funds.

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Friendly reminder: IRA contribution limit increased from $5500 to $6000 in 2019. Make sure to update those automatic contribution amounts!

likesmart

I am convinced buying a house is a poor use of money when living near any mid-sized to large city when looking at investing that money over a 15-30 year time frame. What do I need to be considering?

like

I have 60k in the bank and have no idea what to do with it. Ik it’s a sin to have that much in an account and not making it work for me. I’m not saving for any big purchases either. I’m not too savvy when it comes to investing and really want to strengthen my financial/investing understandings. I plan on sitting down with an advisor. Any advice?

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Anyone regret not doing banking to do FIRE faster?

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I have a lot of student debt from law school. I’ve refinanced a couple of times and received the best fixed rate available, but I’ve seen others refinance with a variable rate which of course is lower. I’ve read some other comments of people refinancing at a super low variable rate....isn’t this risky? Of course I am afraid of going variable and then the interest rates going up a lot. Am I missing something?

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Do you count your pension as part of your net worth?

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I am still waiting on a 2k federal tax refund from the 2019 tax year. I’ve called 20+ times over the past year, and haven’t gotten more than “we are working through an unprecedented backlog and will get to it soon.” Anyone in a similar boat and/or have any advice other than wait?

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At what number do you feel like you’re making enough whether to satisfy your desires or just not feel guilty about spending money.I’ve been blessed to have my income raised a total of 85% throughout 9 years but shortly after each raise I still feel like it’s not enough to live by and that I’m always behind. I live in a high cost area and make triple of what my friends make yet it still doesn’t feel enough. Cont’d

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like

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like

Do you feel like your “wants” drive you to earn more or do you start to enjoy more expensive things because youI have the money now?

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Anyone here retire in late 30s or know someone that has?

Started/maxed out my 2020 IRA on Friday at the market high without knowing and now my whole portfolio is down 2-5% already 😔

likefunny

Anyone use the personal capital app? If so, how do you split investments for married folks? Example joint ownership of home etc

like

Maxed my 401k with todays paycheck 🏆 a lonnngg way from FIRE but step by step my friends!

likeuplifting

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