Search found 335 matches

by Fish
Sun May 20, 2018 5:26 am
Forum: Lifestyle Questions
Topic: Life Traps Analysis from WSP
Replies: 4
Views: 151

Re: Life Traps Analysis from WSP

For the most part it seems like a sensible list to me, although the focus on income is Wheaton levels apart from the typical reader here. Although there are some common threads with frugal-FIRE (#1, 3, 6, 10), I find the WSP article interesting because it targets a young, privileged audience, and pr...
by Fish
Mon May 14, 2018 5:30 pm
Forum: ERE Journals
Topic: cmonkey's journal
Replies: 713
Views: 105159

Re: cmonkey's journal

So we have decided we are selling our house and moving closer to family. This means small-ish town Minnesota. Think 10k-15K population. The only problem we need to figure out is how to do it and when to do it. But we aren't getting younger, and DW's folks are approaching 70 already. :? Is there any...
by Fish
Thu May 10, 2018 8:15 am
Forum: Lifestyle Questions
Topic: Is frugality for the rich?
Replies: 74
Views: 5537

Re: Is frugality for the rich?

I've added a 2nd chart to my earlier post, which shows income distribution among households with varying numbers of income earners. It's helpful for seeing where you stand among your peers. Link: https://forum.earlyretirementextreme.com/viewtopic.php?p=164550#p164550 The chart also shows that if a p...
by Fish
Thu May 10, 2018 2:37 am
Forum: Lifestyle Questions
Topic: Negative sentiment in society against living frugally in Germany (Austria, Swiss)
Replies: 7
Views: 572

Re: Negative sentiment in society against living frugally in Germany (Austria, Swiss)

It's very similar to the types of comments found in mainstream English-language media, see for example this article (click "view reactions" to show comments): https://finance.yahoo.com/news/26-old-b ... 16205.html
by Fish
Wed May 09, 2018 6:22 am
Forum: ERE Journals
Topic: Suomalaisen Päiväkirja
Replies: 115
Views: 11228

Re: Suomalaisen Päiväkirja

Thanks for continuing to post in your journal and elsewhere in this forum, I usually find your thoughts interesting and relevant to my own journey. "SORRY I CARE ABOUT YOU" was her response. A similar conversation has taken place at my house. :) Is your wife ESFJ or ISFJ by any chance? Whether you'r...
by Fish
Sun Apr 08, 2018 9:42 pm
Forum: ERE Journals
Topic: Fox's Journey: And Onto the Sunlight!
Replies: 378
Views: 41371

Re: Fox's Journey: Out of the Burrow

TopHatFox wrote:
Thu Mar 15, 2018 3:55 pm
Taxes: Got a book on 2018 taxes. Need to get on that ASAP.
Did you do your taxes by hand this year?
by Fish
Sun Apr 08, 2018 4:19 pm
Forum: Lifestyle Questions
Topic: Is frugality for the rich?
Replies: 74
Views: 5537

Re: Is frugality for the rich?

Here’s a reminder that source data and methodology are available before we delve too far into the analysis. 8-) The typical spending line combines 3 datasets in a context-free fashion... and the author of the SR table doesn’t have a lot of confidence in it (see DQYDJ link). I also should have adjust...
by Fish
Sun Apr 08, 2018 11:31 am
Forum: Lifestyle Questions
Topic: Is frugality for the rich?
Replies: 74
Views: 5537

Re: Is frugality for the rich?

Same data, but with contours indicating working years instead of SR. The networthify assumptions are used (5% ROI, 4% SWR). It would be neat to comb journals and well-known blogs for data points and see how many are playing on easy mode vs. hard mode. https://i.imgur.com/0oI3ulJ.png Edited to add: M...
by Fish
Sun Apr 08, 2018 2:47 am
Forum: Lifestyle Questions
Topic: Is frugality for the rich?
Replies: 74
Views: 5537

Re: Is frugality for the rich?

The formula I used was: Expenses = Gross Income * (1 - tax) * (1 - SR) The 2016 GI percentiles come from Jacob’s link. The federal tax data is from https://taxfoundation.org/how-much-do-people-pay-taxes/ (2nd figure). To get the typical expenses line, savings rate data from https://dqydj.com/how-muc...
by Fish
Sat Apr 07, 2018 5:50 pm
Forum: Lifestyle Questions
Topic: Is frugality for the rich?
Replies: 74
Views: 5537

Re: Is frugality for the rich?

Frugality is not only for the rich. However, FIRE resulting from modest frugality is indeed only for the rich. To help visualize this, see the below plot of expense/savings rate contours as a function of household income. This is USA data for the year 2016 taking into account federal taxes (incl. S...
by Fish
Wed Mar 21, 2018 8:47 am
Forum: Money Questions
Topic: Math Behind ERE
Replies: 9
Views: 865

Re: Math Behind ERE

For modeling the accumulation phase, I use the simple math all the time just to get an idea of what’s possible. At this level it is common to do the calculations in terms of savings rate and years of expenses. Your example is equivalent to a 60% savings rate (=38/(25+38)) which accumulates 1.5 years...
by Fish
Fri Mar 02, 2018 1:42 pm
Forum: Lifestyle Questions
Topic: What is a reasonable amount of food to have stored?
Replies: 14
Views: 608

Re: What is a reasonable amount of food to have stored?

@George - Are you referring to the food storage discussion in the “hard skills” thread starting here?
viewtopic.php?p=135717#p135717
by Fish
Fri Feb 23, 2018 6:39 pm
Forum: ERE Journals
Topic: Suomalaisen Päiväkirja
Replies: 115
Views: 11228

Re: Suomalaisen Päiväkirja

Thanks for clarifying and explaining your thoughts on the matter. For me this whole FI/RE thing has been like waking up at the end of a long list of “shoulds” (good grades, college, career, marriage, house, kids, ...) and trying to enjoy the newfound perspective and freedom without losing what was b...
by Fish
Fri Feb 23, 2018 6:30 pm
Forum: ERE Journals
Topic: Fox's Journey: And Onto the Sunlight!
Replies: 378
Views: 41371

Re: Fox's Journey: Out of the Burrow

I got straight B's and C's You’ll need something else to differentiate yourself from other applicants to get funding, e.g. good GRE scores, well-written application essays showcasing your talents and unique personality, relevant experience/publications, and/or connections with faculty. If you’re op...
by Fish
Wed Feb 21, 2018 2:48 pm
Forum: Inspiration
Topic: Ikigai, A Japanese concept meaning "reason for being"
Replies: 21
Views: 1174

Re: Ikigai, A Japanese concept meaning "reason for being"

I’m not impressed by most infographics (including this one) but the main idea here appears to be that there are 4 “needs” roughly corresponding to the main personality types of MBTI: money (SJ), enjoyment (SP), purpose (NF), and mastery (NT). Depending on preference one’s ideal balance may be skewed...
by Fish
Wed Feb 21, 2018 6:18 am
Forum: ERE Journals
Topic: Suomalaisen Päiväkirja
Replies: 115
Views: 11228

Re: Suomalaisen Päiväkirja

I really enjoyed the "Bug or feature?" post and found it helpful for improving my attitude towards my kids... I don't get stressed, but they're good at triggering thoughts of "I'd rather be doing something else" when they don't behave as I would prefer. :| I try to keep my feelings honest but at the...
by Fish
Wed Feb 21, 2018 5:16 am
Forum: ERE Journals
Topic: Fox's Journey: And Onto the Sunlight!
Replies: 378
Views: 41371

Re: Fox's Journey: Out of the Burrow

“Tech FI” is easier on multiple counts. Not only is the salary high, but being paid 2-3x median income makes it a lot easier to blend in with the rest of society. Techers can still have their house and their cars... live a normal lifestyle with normal means, and still manage a 50% or higher SR. A du...
by Fish
Mon Feb 19, 2018 5:41 pm
Forum: Resources & Recommended Reading
Topic: BC #12: "Man's Search For Meaning" by Viktor Frankl
Replies: 30
Views: 8865

Re: BC #12: "Man's Search For Meaning" by Viktor Frankl

This book has been on my "want to read someday" list for a while, so I picked it up after encountering it at a thrift store. Most of the other passages that I highlighted have already been mentioned by Dragline above, but here's one of my favorite quotes of the book which provoked a "you're doing it...
by Fish
Wed Feb 07, 2018 2:14 am
Forum: Resources & Recommended Reading
Topic: YMOYL
Replies: 27
Views: 3225

Re: YMOYL

Reviving this thread for the 2nd time... the 2018 edition of YMOYL is now out as an e-book: https://www.amazon.com/Your-Money-Life-Transforming-FinancialIndependence-ebook/dp/B0052MD8VO/ There appears to be a paper version as well, but it also shares the ISBN of the 2008 version so it's hard to tell...
by Fish
Wed Feb 07, 2018 12:35 am
Forum: Miscellaneous
Topic: Let's talk about the Fire Service
Replies: 44
Views: 2474

Re: Let's talk about the Fire Service

@ffj - Thanks for the detailed response. I found the details about the application process fascinating and was surprised at how selective it was. If it's 0.5% (=15/3000) then that's about 10x lower than the acceptance rate of an Ivy League university! Can you explain your reasons for becoming a ff? ...
by Fish
Tue Feb 06, 2018 11:04 pm
Forum: Money Questions
Topic: Anti-Index Fund Literature
Replies: 39
Views: 2154

Re: Anti-Index Fund Literature

@Clarice - There is an ERE blog post on the subject, see link below: @Fish Probably you found this already, but the books Jacob recommends for a startup background on finance/investing can be found here: http://earlyretirementextreme.com/startup-curriculum-for-finance-economics-investing.html The or...
by Fish
Tue Feb 06, 2018 1:39 pm
Forum: Money Questions
Topic: Help me determine the best way to sell some assets?
Replies: 8
Views: 516

Re: Help me determine the best way to sell some assets?

An idea is to use credit cards or a line of credit(*) to manage your short-term financial needs, then pay off any amount borrowed with earned income over the next few months. This would be something to consider if you forecast an asset price recovery, but requires that you go into debt. OTOH, what i...
by Fish
Mon Feb 05, 2018 1:02 pm
Forum: Lifestyle Questions
Topic: The ERE Wheaton Scale
Replies: 187
Views: 20980

Re: The ERE Wheaton Scale

Just saw the retirement goal for level 8 in the latest version. :lol:

@jacob - If you’re still maintaining it, level 6 needs a typical savings rate.
by Fish
Mon Feb 05, 2018 10:32 am
Forum: Miscellaneous
Topic: Let's talk about the Fire Service
Replies: 44
Views: 2474

Re: Let's talk about the Fire Service

If I’m not mistaken it was your time in the fire service that enabled your early retirement. What are the salaries like, how does your pension work (in terms of vesting and when you can start claiming benefits) and can new recruits get a similar deal? Also, how does one get in? I was talking with so...
by Fish
Sun Feb 04, 2018 1:06 pm
Forum: Money Questions
Topic: Help me get started on my taxes? :D
Replies: 15
Views: 788

Re: Help me get started on my taxes? :D

What are you finding by hand that Turbo Tax doesn't? IIRC, there was a state tax worksheet where the numbers failed to account for the input from a lesser-used federal form. I found it one year when my state tax didn't match expectations. It had something to do with investment RE. For a more common...