My partner and I are on the path to FI and are seemingly surrounded by friends/siblings having children but not on the path to FI. The topic of us adopting has obviously come up more recently, but...

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No matter how much you shop at goodwill, the reality of childcare is a huge dent in our FI goals. $4K a month in childcare since we both work. So factor for childcare realistically to your FI projections

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$4k a month? I’m guessing for 2+ kids? My friends have had great success with an au pair. $1.5k a month and not a higher price for multiples

My husband and I (am female) are also on the FIRE path and we just budget for kids in the plan.

There’s a website called ESI (earn, save invest) Money that talks about FIRE and they do a “Millionaire” series for FatFire folks and “ESI” series for normal FIRE folks plus a “retirement” series for those who’ve already made it.

It’s quite interesting and depending on your FIRE plans might have some useful tips.

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My friend said he would just switch to more of a part time job and not fully retire but be financially independent. He was also going to do like toy swaps and stuff to get the kids toys, etc. also buying from yard sales and goodwill/thrift stores for clothes

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On this note, look up Buy Nothing Groups locally on Facebook (I’m part of one right now, and just got a free second-hand printer)

likeuplifting

Buy nothing groups, hand me downs, a college plan that involves community college, monthly dinner planning and couponing. We have multiple and make it a shared goal with the kids. We splurge on travel, but otherwise no one buys new anything and we spend most of our time playing outside at parks, so no one misses a crud ton of toys or nice things. For babies, reusable diapers, hand me downs from others (baby stuff exchanges work great)

The side income is interesting. Passive investment helps a lot. We’ve got rental properties to offset. It’s possible!

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Also, I want to say thank you for adopting! If you have any opportunity to adopt from foster care, please look into it! No kid should grow up without a family.

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Cont...how do any of you FI’ers balance having children with your FI goals?

Why are you choosing to adopt?

The fun is in the trying, OP

likefunny

Following for information. I think I really want a kid at some point, but my wife is close to timing out her biological clock. I really want to consider adoption when it’s time but it’s not something we fully align on.

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Came across a duplex for 475k in SoCal. Up and coming area that’s getting gentrified fairy fast. Looking to rent out the front for 2k and and splitting the back with a housemate for 1k. Cont below.

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Is there a general expectation that a Partner has an MBA?

I doubt it's required at most firms but I'm a pretty senior staff and when I speak with Partners, they seem to speak with an MBA level of business knowledge which extends past their technical skillset.

I realize that's what makes them good Partners but it makes me wonder if I realistically need to get an MBA to keep growing and hit Partner.

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How much do you help your children? I have two, one 27 and one 23. Paid for their college which is pretty standard. One wants a newer car and I hate the idea of the bank taking money for interest. Thinking of loaning them the money instead. A little jump start. Gainfully employed kids I will add. Thoughts ?

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Can you transfer your stocks to someone else’s name if you’re working for a company with an independence clause?

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Hello, All! I'm looking for recommendations on inspirational content for women leaders. I follow TEDWomen, many podcasts, and the Women's Conference among other sources. I'd love to hear a fresh perspective on business, trends, tech, marketing, equality in the workforce, etc. I'd love to learn something new. I'm at the VP level and have started a couple of companies, so nothing too junior, but open to many topics. Please share any speakers, books, webinars, or events that you may come across.

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I don't know if its work or just the pandemic but sometimes even looking at emails feels dreadful.

How should I talk to him? Please help. He is OOO next week, I need to do distoday

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Just read that Dodge said that their new electric car will be "super loud." Isn't the point of electric cars being quiet so people enjoy them more?

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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

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likeuplifting

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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Anyone regret not doing banking to do FIRE faster?

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Any market considerations before refinancing my student loan with current rates? They’re giving me a .75-1% drop.

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Any investment property owners here? How did u land the decision to take the plunge? I know diversification is important, but why didn’t h instead go the ETF/stocks route?

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

likeuplifting

Anyone have a net worth/budget excel tracker they want to share?! : ) prefer not to use the apps.

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