Need some input - does this approach make sense to achieve FIRE? Thinking rentals are the best way to rise with inflation + tax deduction.

- Age 30, married, 200K HHI , no kids
- Need 70k/year for our basic expenses
- saving 40% of our income (savings, retirement, HSA, investment, etc.)
- Plan is to buy 3-4 rental properties in the next 10-12 years
- Use cash flow/sales of one property to pay other loans down and retire once rental income = 70k/year

How old are you and how much do you have in your 401k?

Hi all,
I have a small creative agency that I have built over the last 4 years. It’s been a rollercoaster when it comes to revenue, making it hard to predict finances & pay myself consistently. This year has been particularly financially stressful.

The thought of closing hurts my heart and my pride and can feel like wasted time. But financial stability vs time freedom is rough.

I also recently got a full-time job offer for $200k base with excellent benefits. It’s tempting. What would you do?

New in the bowl — knew about crypto for last 5-6 years but didn’t trust it enough, highly regret. Are people still buying BTC and ETH? Or am I too late to the game? Also — what % of your NW are you parking in crypto? Thanks!

I just want to park $2k somewhere and not look at it for a few years as it grows. Suggestions?

What is with people not knowing how to read signs? We have a huge one that says “NO CASH ALLOWED” and I still get asked almost everyday if we take cash

Does anyone have one of those Infograph’s that show how to optimally allocate your savings? Something like 401k match > HSA > Roth etc (example, I’m not actually sure what the steps are).

Any recos for a fee-only financial advisor that’s under $300/hr? Need to understand sole proprietor/small businesses.

I have about 8months of invested in a HYS account and another $5k apart from that savings. Is it smart/suggested to put that $5k into an index fund (VTSAX) to grow it or because of the current market volatility should I continue to hold in my savings instead for additional liquid assets?

Question for home owners - do you prefer to roll your Homeowners Insurance into escrow and pay over the year? Or do you prefer a 1x payment. My insurance is offering a discount if I pay at once

People living in LCOL areas who bought a house in the last few years... What did you spend on your home, what are the bed/bath #s, and did you buy a fixer upper, turnkey home, or something in between?

Starting to home shop in a LCOL city and I'm super curious to see some numbers from others in similar types of locations. I'm originally from a bigger HCOL city so what feels "reasonable" to me is skewed, but everyone here seems to want to spend as little as possible on homes.

Anyone made the transition from NYC to Austin?

I find myself asking why I am in NYC when everything is so damn expensive. Making good money, but limited on savings and quality of life due to the HCOL. Or recs for other cities for that matter.

Is now a good time to buy a house in Dallas? The prices are inflated and I am Not sure if they are coming down anytime soon. I’m looking for a four bedroom house in the Lakewood area. Wondering if I should wait for price consolidation or if I should buy the bullet and do it now? Thank you

Something that no one is talking about. Taxes being due next week. There were big gains in 2019 that need paid for. Never a better time to sale at a profit now in other stocks to pay for the 2019 tax bill. On top of all other headline risks.

What are the non vanilla adjustments you make to go from EV to Equity Value and how do you identify them in a public company’s 10k? Pension obligations and debt like items? Do operating leases get subtracted out

What’s a good, practical tax book to read for someone who knows nothing about taxes? I feel like I should familiarize myself with them but don’t know where to start/find the topic very overwhelming and dense even as a finance attorney. Welcome to other beginning finance book suggestions too! (Already read Kiyosaki and Ramsey)

Need some feedback, I am lateraling into an associate role at a top 25 law firm after several years at government and corporate jobs & have concerns about the background check.

I haven’t made much money in the past few years and have accrued significant debt from credit cards & personal loans, some of which was to help out family during COVID. My credit utilization is at 90% & I’ve been making payments on time. Credit score is at 580 after being at 780 before law school. Will this ding me?

Anyone tried being a realtor on weekends?

Best tax breaks and/or write off for home office in 2020?

I see Schwab’s best margin rate is 6.575%, wouldn’t you need to invest in an asset that appreciates more than that to make using margin worth it? I know you can use the margin interest as a tax write off, am I missing other benefits?

My credit card information was stolen. Le sigh…

How’s your Saturday going?

I keep hearing a&m and Alix have the highest comps. What makes them able to pay more than MBB? Do they have higher bill rates? Lower MD comp? Less internal expenses?

Does anyone have suggestions/ recommendations or tips to obtain an Angel Investor, with a completed business plan including projections ?

PSA: Calm meditation app is free for all who have an amex credit card.
Hope this pushes y'all to build a meditation practice.
☮️🕉️

Any recruiters out there looking to place a seasoned strategist / strategic leader who has over 15 years of experience, including leading a department ?

Any advice on where to live for a young professional moving to Denver?

Finish strong tomorrow. #Bankerproblems

Damn. A gunman fired at Republican members of Congress. I don't care what your political stance is, things should never get violent.

What books would you recommend for understanding human psychology / personalities? In a people oriented industry like consulting, I imagine it really helps understanding human behavior and building self awareness. For context, young person in consulting here.

Can anyone refer me to KPMG??

Any recommendation for smoothie recipe’s that can replace breakfast meals and also help in weight loss ?

Hello! Wondering how difficult it is to transfer offices as an S1? How far in advance should I ask for the transfer and any other tips I should know? Thanks for the help!

Is anyone here a pharmacy technician for Adventhealth in Florida?

What do people think of the idea of tying drug prices to other countries' prices?

I’m in my TWW and just found out I had close contact with someone with Covid. As if I needed more to stress about! 🤞 I stay negative and our little embaby is sticking!

Bought a SFH where I’d barely break even given the realtors estimate of 1.1k rent. Neighbor kindly let me know going rate was actually 1.6k. Put it up for 1.5k to get a nicer long term tenant and signed in 2 weeks. First investment property and learned a lot from here/bigger pockets so feeling pretty good!

Has anybody used personal capital advisors? Is it worth it?

Hey everyone! Question on how you manage concious spending plans: do you have separate checking accounts for going out, groceries, etc. if so how do you handle credit cards? Do you subtract the money for each category account when you pay a credit card bill? Seems so complex. Is there anyway to simplify (note: we are a couple with joint accounts)

I just got out of an abusive relationship and now my savings are halved because he took most of it. In addition, he used to control all our finances including investing and I don’t know where to start. Can someone please help? Do I put my money in a Roboadvisor or ETFs? Are they the same? I don’t have a risk appetite to play with whatever savings I have left. Thanks!

I make 70k CAD and want to get started on my FIRE journey. Any tips? I don’t have a lot of savings and I have only just started. Pretty scared seeing the housing prices 😢

Does anyone have one of those Infograph’s that show how to optimally allocate your savings? Something like 401k match > HSA > Roth etc (example, I’m not actually sure what the steps are).

Question for home owners - do you prefer to roll your Homeowners Insurance into escrow and pay over the year? Or do you prefer a 1x payment. My insurance is offering a discount if I pay at once

What’s a good, practical tax book to read for someone who knows nothing about taxes? I feel like I should familiarize myself with them but don’t know where to start/find the topic very overwhelming and dense even as a finance attorney. Welcome to other beginning finance book suggestions too! (Already read Kiyosaki and Ramsey)

Anyone tried being a realtor on weekends?

How many people in this bowl are also minimalists?

How early is retire early? I’m thinking early is 35-40. Anyone actually on track for that? What’s your number to retire that early?

Open Poll: what’s your FIRE number, when do you pull the trigger, and where do you want to live? Personally, my ideal numbers are 10M, 35, and lower cost area of a HCOL (Brooklyn). One can always dream!

Net worth was at -$280k @ age 25, hit $1m at 36, and today $2m at 39.

Personal finance book recommendations?

Anyone interested in opening a Marcus savings account? Msg me and I’ll send you the referral link. With referral, you get interest rate of 3.5% per annum, which is a pretty good rate for savings account. Thx.

Live in London - should I buy an apartment that is £630k OR invest heavily in the market in Vanguard index funds? Live rent free with my partner so rent not an issue. Mortgage would be c £2k per month. Have c £100k in savings

How much do you save / invest each month?

Hi there, I’d really love some advice from you all. In the last year I had to sell our home in Boulder, CO and embark on a new build process on a home in Tampa, FL. It turns out my dad can’t afford to live on his own so we found a home in FL that would have an in law suite. We locked in a rate but it expired and they are unwilling to extend due to the fact the builder is delayed and supply chain issues. Is there a smart way to structure loans now I’m unaware of? I’m super concerned.

Do people here consider having children and what it means for financial planning?

As the year wraps up, what % did your total net worth rise YTD? Btwn earnings and market and crypto, my NW is up 25-30% this year