1. Getting out of debt is good though. Only thing I don't agree with Ramsey on is pausing 401 contributions while paying off debt. Otherwise, baby steps are pretty solid. Good work!

  2. You can put the cash from your brokerage directly into your Roth so long as it’s less than $6k and your total income for the year

  3. In that case, now would be the time to sell the brokerage assets and move it into the Roth. With stocks down quite a bit right now, the capital gains taxes you trigger by selling will be low or even non-existent. Then shove the money (up to $6k per year) onto the Roth and let it grow tax-free when the market rebounds.

  4. Old person of the group at 62 so far and not pursuing the FIRE thing, just interested in what I can either learn from, or contribute to these discussions. You younger folks have the right idea! I was late to the investing party. My first 401k contribution was at 30(did not have a job before then that offered one) and less than $16. I still have the pay stub... Ok here goes... Married No debt Home equity $250K Emergency $27K I bonds(part of emergency but in addition to above) $7700 HSA $13K Pre and post tax investments including 401K +/- $700K. My aside... Helped put 3 great kids through college by using a 529 and putting in a specified amount for each adjusted for inflation and dividing it up among them, which in total was a $100,000 Bill. No regrets, and no money for any of them for poor performance. They did the rest, and all graduated debt free with practical 4 year degrees, are on their own and doing well.

  5. Amazing, it’s great to see all you’ve done and what you plan to do after stopping FT work. You sound like you’ve got a balanced life.

  6. I love your post so much!! I am very similar to you and also resonate with the charitable giving. So many posts on here are all about ME ME ME, but I really value helping others - it isn't just about what can I do for me. Thanks for this post - Reddit needs more people like you!!

  7. I see generous giving at this stage of my life kind of like on the airplane when they tell you to put your own mask on before helping others. I need to secure my future first, and then I'll be able to be much more financially generous. In the meantime, I can help people/orgs in need with my volunteer time and effort instead of financially.

  8. Hey, not trying to tell you what to do, so ignore if you'd like. It's free advice, and you get what you pay for.

  9. Invest everything but 6 months emergency fund into maxing out Roth and putting it in other invest vehicles while you can. Please please I beg you. Savings is losing massively to inflation and you’re at the perfect time for a discount on all shares!

  10. It's funny when I see parents taking care of their 20-24 year olds like they dont know how to schedule their own doctor's appt or pick up their own prescriptions, or even help them with this and that. Kudos to you for being independent so soon!

  11. Interesting similarities with my case: Europe, 47, male, now working with income 120-140k (but used to be >350k then got fired at 43 in very competitive IB and wasn’t able to get back to previous career).

  12. This gives me hope! I’m a late starter to FIRE and hoping to push savings into high gear this year (early 40’s).

  13. Yea it definitely is. Look at any bls.org data on incomes in the world. This is literally like the top 5% if not the top 1%. People aren’t sharing any debts. Also not sharing if they inherited any of it. Safe to say these are all inflated/ the group leans financially savy. Go ask the same poll at a graduate school, a truck stop, or a barber shop. Doubt you will get the same data

  14. Age 32 Income: $120,000 Savings: $8000 Retirement: $60,000 Brokerage: 140,000 Checking: $4500 Home Value/equity: $320,000/$70,000

  15. I know it’s a bit bias seeing people who follow this subreddit are saving, but god dang you guys are well off. Saving can be very hard at times, at least for me 😭

  16. When looking at these numbers one has to realize- to be in this subreddit one has some financial sense and is aggressively working to live freely. That already puts most people in the group 95% of the rest of world.

  17. Age 47, I’ve been making $180k since 2013 and salary has gradually gone up to $200k over the years. I was overpaid and didn’t move because there was no way I would achieve anything more than $170k. Am planning on FIRE at 50/51 unless they let me go with a severance (which I’m hoping for) I’ve been very lucky the past 10 years.

  18. 47 Income: 225,000 IRA: 540,000 Roth: 8300 SEP: 123,000 Wife's IRA: 79,000 401K: 58,000 Taxable: 332,000 Crypto: 3000 Cash: 70,000 Primary home equity: ~300,000 (and falling) Second home equity: ~275,000 (and falling)

  19. Does not feel that way :/ but thank you! I regret not starting to invest earlier in my life like in college but it is what it is. Just trying to make changes now for a better financial future. I was careless with spending the past 2 years or so.

  20. How’s it going since going from 400k to 80k? I’m assuming you weren’t living lavish since you’re in this sub but still that’d prob make me feel a little queasy

  21. 28. Investment about $4k. Cash around $500k. All from a windfall I received about a month ago. Currently DCAing $10k/month as the market crashes.

  22. Thats great! You may want to DCA at a slightly higher rate. It'll take you 4 years to get all of that money in and if you look at historical market draw downs most of them are fully recovered in that time period. Either way keep it up!

  23. Age 27 IRA 18,000 401k 20,000 Student debt 65,000 paid to 0 Home equity 10000 Cash 10000 Investing per mo 3700 Salary pre tax 90k, wife just got a part time job earning additional 15k. LCOL area

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