this post was submitted on 01 Jan 2024
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FIRE (Financial Independence Retire Early)
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FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.
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Save for a new (to us) car, have enough extra to fund kids' 529s, and get our personal spending to be consistent (wife is the main culprit, it's much too variable for my taste).
529s are great. And now you can roll excess funds into a Roth if your child doesn't use all the money for school, which makes them even more flexible. New 529 changes.
Yeah, but that's not particularly useful for me since I'll be retired by then, and thus won't likely have any earned income. So paying income tax on the gains isn't particularly attractive when I'll be in the 0% capital gains bracket when I go to sell.
It's a pretty cool benefit, but not as interesting to early retirees.