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Reader Case: Bay Area Conundrum
Wanderer
Latest posts by Wanderer (see all)
- Reader Case: Is it EVER OK to Buy a House? - March 1, 2019
- The Yield Shield: How It Protects You From Recessions - February 26, 2019
- Reader Case: Should I Enter The Market? - February 15, 2019
Another Friday, another Reader Case! Yaaaay! Today’s reader comes from the Bay Area. Home of Silicon Valley, the Golden Gate Bridge, and some of the most unaffordable housing in the country. Let’s dive in, shall we? F&W, Thanks for your work. My partner (26) and I (29) have been reading for months and appreciate your insight and blunt honesty! Hoping you can give us your opinion on our situation… thanks in advance! Your gross/net annual family income Me: $100K gross / almost 80K net (including 401K and HSA, mine and employer’s contributions). not counting those, it’d be 57K salary net […]
Reader Case: Can this 24-year-old from DC Retire Early?
Wanderer
Latest posts by Wanderer (see all)
- Reader Case: Is it EVER OK to Buy a House? - March 1, 2019
- The Yield Shield: How It Protects You From Recessions - February 26, 2019
- Reader Case: Should I Enter The Market? - February 15, 2019
It’s Friday, and you know what that means: Reader Case time! And for the first Reader Case of 2019, we’re gonna pick a doozy. Income Gross Income: $95,000 (Combined) Myself: $50,500/year. My Husband: $60,000/year Net Income: $75,000 (Combined) Myself: $30,600 ( After tax, health insurance and 401k contributions) My Husband: $45,000 (we pay his taxes deductions at the end of the year) Monthly net income: Myself $2,550. Husband: $3,750 [Combined: $6,300/monthly] Monthly Spending: Transportation – $575 month (Ubers really add up quickly) [$6,900/year] Cable – $127 (he can’t seem to live without sports channels) [$1,524/year] Cellphones : $150 (both of […]
You Can’t be On FIRE if You Can’t Stand the Heat
FIRECracker
Latest posts by FIRECracker (see all)
- Are Robots Stealing Our Jobs? - March 19, 2019
- Reader Case: Can’t Wait to Travel - March 15, 2019
- Let’s Go Exploring! Madrid, the Food or Food Poisoning Capital of the World? - March 8, 2019
“The markets are crashing, this whole FIRE thing isn’t going to work!” “The world is going to end! 2008 is happening again, we’re all going to be screwed!” “A recession is coming! Should I sell everything in my IRA?” These are just some of the comments, messages, and e-mails we’ve been getting lately. With the S&P 500 down 11% since the the beginning of the year and 18% from the peak, I can see why readers who haven’t been through a market crash would be spooked. But here’s the thing about becoming FIRE. You can’t be on FIRE if you […]
Reader Case: Does FIRE Math Apply to the Elderly?
Wanderer
Latest posts by Wanderer (see all)
- Reader Case: Is it EVER OK to Buy a House? - March 1, 2019
- The Yield Shield: How It Protects You From Recessions - February 26, 2019
- Reader Case: Should I Enter The Market? - February 15, 2019
Today’s reader case is a rather interesting one. A reader is writing to us about their 70 (!) year old mother, and asking us how to manage her retirement finances. Now, finances for the elderly is a bit trickier than normal finances, because they can’t recover if anything goes wrong. This situation is doubly risky because I’m giving advice to the reader (who admits she’s relatively new to this FIRE stuff), and she’s relaying it her 70-years-old mom. The odds of a broken-telephone communication problem are high here. So while I’m happy to give my two cents, consult a financial […]
How Much Are You Paying to Work?
FIRECracker
Latest posts by FIRECracker (see all)
- Are Robots Stealing Our Jobs? - March 19, 2019
- Reader Case: Can’t Wait to Travel - March 15, 2019
- Let’s Go Exploring! Madrid, the Food or Food Poisoning Capital of the World? - March 8, 2019
“Can you write about how much you’re paying to work?’” We got this e-mail from a reader recently. Apparently, once-upon-a-time I’d mentioned in a post how we don’t realize how much we PAY to work. I said I’d be writing about this in a future post, but then forgot to, you know, write it. Oops. In my defense, there are a lot of saunas and spas in Europe and they’re not going to visit themselves. Anyway…without any more excuses, here’s my better-late-than-never post on how much you’re paying to work: When we’re working, we love focusing on the fatness of […]
