Couple of things have happened to expedite savings - first was an unexpected extra income through work and second was gains in an equity position.MDFIRE2024 wrote: ↑Sun May 07, 2017 12:42 amThat is a great status update.
Your progress is fastern than you thought it would be. Why is that so? You save more than expected?
I'm curious about the details which you mentioned.
I guess the tax initatives from Trump could help you, don't they. Unluckily, here in Good Ol Germany, taxes are quite high. That makes it a bit more difficult to retire earlier for me. Anyway, I interested in your change from employee to retiree.
US is currently in a second longest bull market in its history - going on for 7 years. If the bull market lasts past August 2018, it will be the longest bull market in US history.
It seems just throwing money at the market will make it grow. I have committed about 10% of my assets in an equity position and the gains have been realized very quickly. Anyone can be a stock market genius at times like this, and this is very reminiscent of year 2000 tech bubble, except worse because market is much higher.
The market will continue to rise until it can't. The trick will be knowing when to get out, as always.
When it comes to Trump, I don't expect much change. If anything, Trump's tax proposal seems to completely eliminate tax benefits for the middle class except for mortgage interest deduction and retirement contribution deduction. Pretty much all itemized deductions have been eliminated. Trump's proposal has a very slim chance IMHO. Same for his presidency.
I think I will very much enjoy being a retiree. I'm currently on a month long vacation and it's been wonderful. The 3 years can't come soon enough.
Having said that, I don't think this bull market will continue for 3 more years. I may have to face some tough choices ahead.
Thank goodness for FU Money. [ The Position of Fuck You (John Goodman in The Gambler) Caution: foul language https://www.youtube.com/watch?v=xdfeXqHFmPI ]