Noob question - How do i get started on FIRE?

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

mmm is great. I also like early retirement now.
Basically look at your budget and find a way to save 50% minimum of your take home into investments. Understand your expenses and work toward 3-4% WD rate for FI. Then do whatever you want.

like

Check out a book called “Your Money Or Your Life” by Vicki Robin. It will give you enough knowledge to get started. The blogs mentioned throughout this Bowl are also great

like

Related Posts

What questions do you love to hear from analysts who are trying to network with you?

likesmart

Bridal shoes - where did everyone get theirs? I don’t want anything fancy, but that seems to be the norm. I struggle justifying $300+ for a lace shoe I’ll wear once and no one will see.

like

I had a super that would always appear behind me or circling my car late at night. Turns out it was a “me problem” when I reported it

Post Photo
like
like

Hi sharks, I have cleared 2 technical rounds of TSYS and Now Managerial Round is pending. I have read that they ask for expected CTC during managerial round and if you ask high CTC then they put your profile on Hold. So, how much CTC can I ask, my YOE- 3 years, Tech Stack- Java, Spring Boot and Microservices, Current CTC - 10.5 LPA
Please help!!

Hey fishes!
Just wanted to know about any internship/part-time opportunities in the VC space. Currently working at Bain (Capability Network) as a Sr. Analyst. Just interested in working in this space and would appreciate any leads.
P.S.- Can devote 15-20 hours/week

like

Hey fishes,
I’m bit bad at calculations of take home salary.
Can someone please help me out in knowing the take home salary?
Note : I have declared 1.50 in 80C and HRA as 15k month !
Thanks in advance to all the fishes !

Post Photo
like

Hello fellow HR pros! I really need your opinions on HR certifications. I am deciding between PHR and SHRM-cp. I have read just about all there is online comparing the two and can not decide. My heart is telling me PHR, my mother in law (an HRBP) is telling me to go with SHRM, as it’s more widely recognized, more established and a larger network in general. I work for a 350~ company who is growing rapidly through M&A. Passions/interests are compliance, strategic vision, M&A, branding and culture

like

Why the resource team is wrongly mapping to higher level management role project proposals. Like 4 yr experienced people are being proposed for 10 year experience requirement.
Does anyone else faced this? LTI

likefunny

AA SWUs available for some combination of cash or Marriott points. Make me an offer.

Trying to go Athens-Chicago and there's a 1 stop flight from Frankfurt to Chicago (30k miles) but can only get two stop starting in Athens if I use 15k miles for first leg (Athens to Frankfurt)...

like

If I’m considering moving to Chicago from a LCOL in the southeast, would my TC of ~70k suffice?

like

Is anyone familiar with Acalyx advisors? Seems like an interesting firm and considering discussing an opportunity with them, but I am concerned about switching to a firm of that size (~10 employees on LinkedIn) that I hadn’t heard of before

New to fishbowl.... hope this opens doors for me and I learn from networking on this platform

like

Anyone have a WiFi extender that works well and they’d recommend?

like

Do we have any tech companies in Atlanta paying 120K plus for data scientist roles with 4-5 YOE?

like

How is B4 life when you have small kids and a nonworking spouse?

I was asked to submit PWC ethics and compliance clearance Not sure what documents to submit here Can anyone guide me?

Non Tax
Tax
W2
What if

Not sure what we need to submit here.

Post Photo
like

Additional Posts in FIRE Financial Independence Retire Early

Which city/state do you plan to have your main residence when you RE? Which city/state are you in now?

like

Regardless of what the Fed says, it looks like USD is steadily (rapidly?) inflating. Emergency fund is 80,000 (plus 10,000 reserve for a rental). What to do with it to hedge against inflation?

like

My son’s first birthday is coming up and my parents want to gift him $1k in a separate account under his name for him to use in the future. My husband and I make about $250 combined but paying off student loans and a mortgage so don’t have much in assets. My parents only make $50-70k a year. We’re all pretty clueless about money. What would be the best way to invest in his future?

like

Okay this is a slightly multifaceted/nuanced question but there are a lot of smart people here so I’m going to try!

Lately I’ve been looking at increasing my holdings of foreign dividend paying stocks, and planning to add to positions.

However, it irks me that when I hold these stocks directly, there is often a “foreign tax withholding” subtracted from the dividend payment. Recently, however, it came to my attention that IRS allow you to deduct/credit the foreign withholding … cont

like

I am just starting my investing journey and just opened by brokerage account. What are some of the index funds i should be looking into investing into?

like

What are some of the best ways you have paid off student debt? I have 180k and I want to aggressively lay it off. For context, I am one year into my career and have spent these months getting rid of $20k of consumer debt. Want to be responsible and keep the momentum going.

like

Shorted Twitter because there’s no way that their board will take the money and let Elon bring back Donald Trump. He’ll sell his shares and their stock price will plummet imo

likefunny

How do you measure fire readiness when it Comes to real estate ?

My current + pipeline homes (2-3) year stats:
Purchase (10 homes) 4.3M
Down- about 25%
Market value- guess if 5.4M
Equity of 2.1M , net equity of 1.0 if exclude my down payments
Cash on cash isn’t best but about 4.5% ( lived in some of these homes)
Net income- 50k/yr

Clearly high assets and loans with small cash compared to current income but building wealth. How to measure fire - income? Wealth accumulation?

like

After 7 years of actively managing my portfolio I have concluded that simple boring index funds are way to go. I did well in tech stocks but have some I'll times entries and exits which kinda took down profits. Do you still believe actively trading would produce better results. I have learned quite a lot in process but now I don't think I would be able to give same time when life gets busy with higher roles, kids etc. Anyone have been successful in managing their portfolios and beating indexes.

like

Would you move to a different city, pay 50% more in rent for more career opportunities and increase in quality of life?

1k -> ~1.5k in rent. Already max all accounts, 100k NW @26yo no debt - 100k income.

Living remotely in the mountains since I wanted to be outdoors all the time. After a year, I've hit my limit and want to go back into an office/bigger city to socialize more. Balancing between FIRE and living life now.

like

I am 31. I have $750k in assets and 400 in liab. Net worth is 350. Largest assets (excluding real estate) are 120k in 401k, 40k in brokerage, 20k in crypto, 25k cash. Own property totaling $550k (2 condos) but debt of 350k so 200k of my net worth is in real estate. Student loans of 30k. Thread continued 👇🏽

like

Are there net worth checkpoints at which you should be adjusting your investment strategy (either motivated by taxes or returns)? If so, what are they and why? Not thinking for the super wealthy rather the average 🐟. Disregard the natural progression to less risky assets as you get closer to retirement. Just thinking more in line of "I now have $400k liquid, I should be doing x instead of y." Thanks

like

What’s better the S&P or a total stock market index fund?

like

Does anyone have any primers on a Backdoor Roth? I save a significant amount of money every year (finance) but curious what the advantages of this are, and if I should use it

like

Suggestions to start investing? I have money saved and would like to know if anyone has a beginners guide to investing.

like

Do you have VTSAX in your portfolio or do you also have mid cap,small cap and international funds? Have been noticing that if S&P is down, almost everything else is also down or flat

like

What’s your best money saving/cutting back tip? I consider myself pretty good with saving and not spending on unnecessary things but always open to learning what works well for others!

like

At what net worth would you consider yourself rich?

likefunny

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

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Send download link to your phone

OR

Scan your QR code to download
Fishbowl app on your mobile

By continuing you agree to Terms of Use and Privacy Policy.

Messaging rates may apply

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal