this post was submitted on 05 Feb 2024
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FIRE (Financial Independence Retire Early)

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Welcome!

FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.


Flow Charts:

Personal Income Spending Flow Chart (US)

Personal Income Spending Flow Chart (Canada)

Finance Flow Chart (UK)

Personal Income Spending Flow Chart (Australia)

Personal Finance Flow Chart (Ireland)


Useful Links:

Bogleheads Wiki

Mr. Money Moustache - a frugal lifestyle blog

The Earth Awaits


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[–] Fleamo 5 points 10 months ago (2 children)

I only look at my 401k once per year at the end of February to calculate my full net worth and make sure things are going to plan. It's all in index funds so I know it should be good but no idea the specifics.

Getting real antsy right now though.

[–] [email protected] 3 points 10 months ago

With index funds you should be ok. Only thing I'd say is make sure they're the right funds for you(and your risk tolerance).

[–] [email protected] 3 points 10 months ago (1 children)

Are you antsy because you want to do your annual review or because you’re worried about your investments?

[–] Fleamo 3 points 10 months ago* (last edited 10 months ago) (1 children)

Just want to know. It has been almost 12 months and I've been contributing to it and I think it'll be up from the market too. Purposefully not paying enough attention to even really estimate.

Not going to change anything I do. I guess it was phrased a little oddly.

[–] yenahmik 3 points 10 months ago

Assuming you're mostly in a broad US market fund, the numbers should look pretty nice from a year ago.

[–] yenahmik 5 points 10 months ago (1 children)

In this week's edition of celebrating random milestones:

It took me roughly 10 months to earn last years gross salary in portfolio gains. Glad to see my portfolio earns more than I do, especially since it doesn't have to pay taxes on that income.

[–] [email protected] 4 points 10 months ago

It's a great milestone. I wish I'd started tracking my net worth back when I was young. I don't even remember the first year my portfolio made more than I made in earned income.

I'm trying to convince my nieces and nephews to save and invest, but they think it's hopeless because they're starting out with nothing. I started out with a negative net worth (student loans + brand new vehicle).