I quit my job in June 2017. I walked out with no future job prospects whatsoever, and headed to South America to enjoy a midlife crisis. It’s been more than half a year now since I walked out that door,
Now that we have a final version of the 2017 GOP tax bill, it’s time to talk for reals about the impacts on FIRE (financial independence and early retirement). After the final tweaks to the bill were done in the House-Senate reconciliation process,
Saving one million dollars. It’s the financial goal of many early retirement dreamers. Since the FIRE movement lit up the blogosphere in the last decade, we’ve been showered with stories of average folks saving $1M or more. It’s not that hard.
Happy Monday, folks! Last week, the Senate released it’s version of tax reform. If you want to read about all the differences from the previously released House tax plan, you can go here. There are a couple of items in the Senate tax plan that I want to highlight,
House Republicans released their new tax proposal a few days ago, with the intention of getting a bill passed before the end of the year. Changes will still inevitably occur before any bill becomes finalized into law, but we can look at the impact of the current proposal on retirement in general,
Retirement is a game of probabilities – especially early retirement. One of the key risks you face in early retirement is the possibility that your portfolio will run dry. We can plan. We run scenarios, and we try to minimize the risk of failure.
Any time major tax changes are put on the table, I get that feeling like a kid on Christmas Day: giddy, excited, even a little wondrous. What will I find when I unwrap the package? What possible new tax strategies will arise?
Look to your left. OK, now, look to your right. What do you see? Are you surrounded by commuter traffic or cubicles? People who would clearly rather be somewhere else? Do you feel a numbing sense of Déjà vu? If so,
What does it mean to be free? In America, we cherish our political freedoms, and for damn good reasons. But I’m here today to talk about a different kind of freedom – financial freedom. Too many people are not financially free.
The personal finance community loves talking about FIRE – financial Independence (FI) and early retirement (RE). Conventional wisdom is that you can achieve FI with savings and investments worth 25-30 times what you spend each year. For example, a married couple who spends $40,000 per year can thus achieve financial independence with $1M –
There’s a certain satisfaction to leaving a job on your own terms. After years of being told what to do and how to do it, the tables are turned, for just a moment. I am now 2 weeks away from having that conversation once again.
Are you an early retiree, or perhaps a dreamer, counting down the days until you call it quits? Just save 25x your annual expenses, and you should be good, right? But what if you develop a chronic medical problem that blows a massive hole in your early retirement spending?