What is Fat FIRE? Everything You Need To Know Five years ago, I didn't know what FIRE was. I mean, I knew what fire was — something to gather 'round to drink beers, tell stories, and burn marshmallows. But I was oblivious to the acronym that has since become life-changing: Financial Independence, Retire Early.The objective of the Wellington Fund is to provide both (1) long-term capital appreciation and (2) reasonable current income. And to do so with (3) consistency and low volatility. This is a tall order. But Wellington tries to achieve their goals by: Setting an asset allocation of 60% to 70% stocks and 30% to 40% bonds.This number is based only on your estimated annual spending in retirement and your Safe Withdrawal Rate (SWR): (Fat FIRE number) = (annual spending) / SWR. Safe Withdrawal Rate (SWR) is the estimated percentage of your net worth that you expect to withdraw to cover your living expenses in retirement. 4% is widely considered as the recommended ...We would like to show you a description here but the site won’t allow us.Nov 30, 2022 ... According to Allen Wong, a moderator for the subreddit r/fatFIRE, the platform allows members to “speak freely without fear of retaliation ...Sep 11, 2022 · The online forum subreddit r/fatFIRE is filled with people discussing investments, sharing tips, and telling stories of getting FatFIRED—the day when they retire in their 30s or 40s after having ... My guess: the difference stems from the way that most of the people here achieve FatFIRE. The stories I see are mostly windfall stories like stock options, business acquisition, etc. The rich old guys you know sound like they built their wealth through compounding gains of cashflow over a long period of time.At current salary fatFIRE is an unlikely dream. Currently interviewing for a remote job with a SF tech company though, if that goes well I will be on track to actually join the FF group, just not before 50. I feel that's not too bad though. Feels really slow compared to many here, but I like the motivation. 19.Torontonian Proper here - 30 years old - 2.2m invested in market - run a business that earns 1m+ in income annually (not really sellable / service based business w/ shitty multiples). 1.5m condo with 1.1m on the mortgage. Very early days of the fat fire journey. I think I’m a HENRY based on this thread.We would like to show you a description here but the site won’t allow us.Hey r/fatFIRE, two quick questions. My grandfather recently passed away and his inheritance nudged my parents to reconsider how they're investing for retirement. Right now they're considering Fidelity Wealth Services, who recently sent my parents a portfolio of how they'd manage my parents' money. As far as I can tell, it looks like Fidelity's ...DrHorseFarmersWife • 6 mo. ago. I’m a lawyer but not a divorce lawyer. #1 is get a therapist that charges less per hour than your lawyer and don’t mix them up. #2 is use that therapist to help get your mind right about not throwing good money after bad and trying to get too cute/vindictive in the process.We would like to show you a description here but the site won’t allow us.I expect my tax rate to be more like 10-15% at similar spending levels. Depending on the state long term capital gains are at 15% + 3.8% + state so currently 9.3% for CA. Almost 30% right now. You're right, with CA it's a bit more, but the number is still smaller than most people expect. What is Fat FIRE? Everything You Need To Know. fatfire. Five years ago, I didn't know ...Welcome to r/ChubbyFIRE, here we aren't rude and welcome mid to advanced fire topics, please do not ask things like "How can I invest money" or other very basic things. We try not to moderate too heavily but please be respectful and use the weekly thread as much as possible for smaller questions. Similar subs: r/FatFire. r/fire. r ...At the $100k minimum you're paying $650 extra in fees, to at most in a year offset $3,000 of ordinary income. $650/$3,000 = 21% bracket, so you're only ahead if you're in the 24% or higher bracket for very little dollars. Let's jump to the 37% bracket, you'd get $1,110 back from tax loss harvesting on your tax refund, minus $650 of fidelity's ...Ever wanted to find treasure that's been available yet buried in /r/fatFIRE over the years? Here's a guide that could help you in your search. Have fun!It's a respect that is earned by title and ongoing practice. It's a bit like personal fitness in that once you stop practicing, the respect likewise stops. It's extraordinarily hard to distinguish between respect for the role and broad, intrinsic respectability.2021’s Best States to Retire from WalletHub. From a fatFIRE perspective perhaps most don't care as much about affordability, but the other metrics (e.g., quality of life, health care) are certainly relevant. That being said, I'm in California, where most of my family/friends are, so unlikely to permanently move from here. Personal Injury lawyers make..bank? Heard about this on My First Million, this lawyer shares his financial life story on r/FatFire. $6M-$8M PER YEAR in…Redirecting to /r/fatFIRE/comments/15jnlf5/.My guess: the difference stems from the way that most of the people here achieve FatFIRE. The stories I see are mostly windfall stories like stock options, business acquisition, etc. The rich old guys you know sound like they built their wealth through compounding gains of cashflow over a long period of time. that’s a good point though with the 25% down, a sub 3% rate and a max debt to income as 40% then i think closer to 2m on a 2.5m house can be achieved depending on property tax. this would be per 10m assets which i think is fair to me. at least on the low end i wouldn’t want to borrow/buy much more compared to net worth at that multiple. I work 70-100 hours at your age. The truth is that if you work twice hard than others, it indeed give you some advantage in your 20-early 30s. As you grew up, making right choices are more important than working long hours. Still, most high-paying jobs requires 50-55 hours of devotion. What is Fat FIRE? Everything You Need To Know Five years ago, I didn't know what FIRE was. I mean, I knew what fire was — something to gather 'round to drink beers, tell stories, and burn marshmallows. But I was oblivious to the acronym that has since become life-changing: Financial Independence, Retire Early.Learn to kiteboard. 2. BobbyWatanabe • 1 yr. ago. Take a private helicopter and tour the island in style for a day - it's well worth the money in terms of memories and the views and sights on Oahu are incredible. The luxury picnic helicopter charter looks amazing. 2. clearbottleflu • 1 yr. ago. Hike the Haiku stairs. Beyond that, your passport has literally nothing to do with where you pay taxes. income tax in st kitts is non existent whereas the Portuguese one gives you a 10 year pause on MOST taxes as per their own website. Afterwhich you have to pay a progressive tax rate which ranges from 15-48% on global income. This is about tax residency, has nothing ...If you are FatFire you can afford it. You tip 20% till you leave the US, if you ring up a bill that’s $450 , that server is going to have to tip out a larger percentage of their sales because of the extra $450, 6% of alcohol to bartenders, 3% of sales to food runners and kitchen.Likely to deliver this summer. Surrogacy process with all its fees and payment to surrogate ran about $100k. Process was relatively straightforward as managed by the agency who had done this quite a bit. A few hurdles legally since our state has no laws around it, but sympathetic judge made a court order to allow it. We are a dual physician couple living in a LCOL city. Combined as two specialist physicians we bill well over 7 figures. Over the last few years by restraining life style inflation we have been able to save up $4 million (mostly in ETFs). We save between 700 k - 1 million dollars per year, and can add that amount for each extra year we stay here.Like $2000 SGD/sq ft. You do get a break on the foreigner stamp duty as an American with purchase which normally adds another 20% (or so). No public schools for foreigners, will need to go private. Pre-Covid travel is awesome. Changi is a great airport, major hub. Not much of a culture shock. Lots of British influence.Chubb vs Mid Level Carriers. For those of you $10m+ any thoughts on Chubb/Pure vs Cincinnati , which seem to be the main three carriers in the US for HNW individuals right now. Main reason for insurance for me is now liability - not worried about losing a house or a car anymore. Curious if it is worth spending 10-20% more for Chubb/Pure vs a ...We really need to get this $4k/hr out of the discussion. It's not that much. The operating costs for a light jet are less than that. If you are sharing the jet with other passengers, you aren't paying anywhere near $4k/hr. There are many ways to get it lower than $4k/hr. That's on the high end for sure.You’re losing a lot of money buying new or leasing. Now, you can factor in the money you could make by putting it to work in the market. If you buy the car with a pledged asset loan at around 3% you come out even further ahead with the used option. The new car will cost you $81490 The used car will cost you: $47600.Wife will get a pension in the realm of 80-95% of her high 1 salary. Currently she's at 85K. Raises are minimal 1-3%. I'll get a pension of anywhere between 39-46% of my high 3. High 3 likely to be in the realm of 180-210K Retirement goal is somewhere between 49-56 years old (51-58 for wife). The scope of FatFIRE extends beyond the conventional retirement mindset. It encourages individuals to envision a retirement lifestyle where they can indulge in personal passions, travel, support loved ones, and maintain a higher standard of living. In essence, FatFIRE offers the financial flexibility to make the most of your retirement years.We would like to show you a description here but the site won’t allow us.I just opened a brokerage account, I’m in my 20s looking for tech stocks that have a huge upside potential, something like nvidia or AI… appreciate it. r/Fire: FI/RE (Financial Independence / Retiring Early) is a money strategy that's sweeping the nation. It's not easy, but it is simple: earn more ….Overall UI is MUCH better on Schwab, and there's an instant calculation of PAL available balance to draw from depending on daily market movements, trading activity, etc. One interesting difference is that JPM uses daily SOFR whereas Schwab is 30-day average. So the day FED increased rates, JPM increased commensurately.We would like to show you a description here but the site won’t allow us.The scope of FatFIRE extends beyond the conventional retirement mindset. It encourages individuals to envision a retirement lifestyle where they can indulge in …Class Time and Link. 06:30 am pt/09:30 am et: 45 min Sweat Steady Ride. Class Playlist. This class features Robyn, TV on the Radio, Thirty Seconds To Mars, OutKast, Jungle, Halestorm, Foo Fighters, Sikdope, ZOOTAH, Pharrell Williams, Ciara, Skrillex, and …Chase is the better bank, better service, branches everywhere, better app (BoA straight up refuses to deposit some checks for me) easier to get someone on the phone and gives free wires. I've banked with local banks, national banks and credit unions and of all of them Chase by far has been the best experience. BoA gives the 2.625% cash back. At a 4% SWR, you'd need assets of a bit over $5 million. For an easy definition, I'll call FatFIRE as $200K in passive income and/or $5MM in investments. (The and/or is because income vs. investments can be wibbly/wobbly when things like pensions come into play.) 95th Percentile: $274K/yr. 99th Percentile: $504K/yr.I suppose that would be true that if you give away all of your income, you would not have to pay any income tax. The $7m should grow to some $56m of today’s dollars by the time they are 73. If they intend to give away $50m in their lifetime, they can start doing that at 59.5 and not have the penalties. Three major goals at the start of 2022 were to decrease our home improvement spending, and to increase our travel and restaurant spend. We absolutely nailed the spending increases but bit the bullet on some home improvement projects, and missed that goal substantially. Travel may decrease a bit in 2023 as we look to maximize use of the new ...In case anyone else is searching this topic, Fidelity has a page about it on their website. Basically the private client group offers to help invest your assets for an annual percentage fee. If you don't use that service, their support is still available for general issues and they answer right away without having to go through phone-maze-hell.24.8% of people can be excluded due to young age (0-19), leaving 75.2% of the population as potentially in FATFIRE. Of that 75.2%, the 50+ segment are proportionally representing 47.9% of the potentially FATFIRE. That's a very large portion. I assume that people within that segment: Are more likely to be retired.We really need to get this $4k/hr out of the discussion. It's not that much. The operating costs for a light jet are less than that. If you are sharing the jet with other passengers, you aren't paying anywhere near $4k/hr. There are many ways to get it lower than $4k/hr. That's on the high end for sure.The difference: FatFIRE devotees don’t want to scrimp and save in order to afford early retirement, and instead focus on maximizing their income while they’re still working, according to the r/FatFIRE subreddit. Not surprisingly, working at large tech companies is one popular path to pursuing fatFIRE.FatFIRE: With fatFIRE, the goal is to earn as much money as you can to save enough to live a comfortable and enjoyable retirement without cutting costs or diminishing your standard of living. FatFIRE …The online forum subreddit r/fatFIRE is filled with people discussing investments, sharing tips, and telling stories of getting FatFIRED—the day when they retire in their 30s or 40s after having...My fatFIRE target is $5M, plus a fully paid off primary residence. I recently obtained the fully paid off primary residence and it feels great to never have to pay rent or a mortgage again. But even though I've been aggressively saving for retirement (over $200k yearly in contributions) it will be several more years before I manage to save up ... In addition to the "extra $280K," you'll also need to spend (say) $150K to sell your current house (brokerage commissions, closing costs, etc) and to pay for moving. That's a lot of money just to upgrade from a $2M house to a $2.52M house. Not if they sell their existing house for 10% more “than it is worth” as well.I think my post is relevant to fatfire because there are a lot of lawyers here and my path was a good one to fatfire. A lot of people don't really think about the solo/small firm route to get rich. I also like mentoring people and sharing my success with others to motivate them and educate them. And yes, my plan was always a 1-2% SWR.Pretty much normal, housing, travel, food etc. I overspend a bunch on food and entertainment but don't buy a lot of stuff. Usually $250-275k a year, but more this year with how hotels and other travel-related expenses have blown up, plus we bought a Tesla Model S. Biggest expense categories are travel and dining out.RothRT • 4 mo. ago. Keep in mind that there is the RE element to FatFIRE. Lifestyle creep during the earning years, for some, can delay attainment of FIRE, even at fat levels. Sometimes I feel like this sub is too much about the Fat and not enough about the FIRE. Entrepreneurs_TV • 4 mo. ago.The scope of FatFIRE extends beyond the conventional retirement mindset. It encourages individuals to envision a retirement lifestyle where they can indulge in personal passions, travel, support loved ones, and maintain a higher standard of living. In essence, FatFIRE offers the financial flexibility to make the most of your retirement years.Own Platform. FatFIRE is a subreddit with over 307,300 members worldwide where they share tips and advice to become wealthier in order to retire early. The subreddit is free …My guess: the difference stems from the way that most of the people here achieve FatFIRE. The stories I see are mostly windfall stories like stock options, business acquisition, etc. The rich old guys you know sound like they built their wealth through compounding gains of cashflow over a long period of time.FXIAX charges the lowest management fee on the market at 0.015%; it is even cheaper than Vanguard VFIAX’s rock-bottom fee of 0.04%. Fidelity’s S&P 500 index fund has the same performance as any other S&P 500 index fund. So if you are in the market to buy an S&P 500 index fund, Fidelity’s FXIAX is a great option.Redirecting to /r/fatFIRE/comments/15jnlf5/.Ours included dinner / drinks / lodging in a rented house the day before the tournament. They typically have a shuttle that drops you off outside the entrance to Augusta and picks you back up. It's expensive, but one of the only ways to guarantee access to the Masters for outsiders.The scope of FatFIRE extends beyond the conventional retirement mindset. It encourages individuals to envision a retirement lifestyle where they can indulge in …A comparison of my favorite modelling tools for fatFIREing. I don't know about you guys, but I love data, projections, and modelling the next 60+ years of my finances. I've spent hours on excel mapping things out. I'm a huge nerd - my wife once told me that my spreadsheets were one of the most attractive things about me. Sep 20, 2022 ... Reddit has an anti/work subreddit, but there is also a large r/fatFIRE group. This crowd eschews the traditional wealth management advice of ...The combination of knowing what you want at end of career and diligently working toward those specialized skills will help set you apart. Sure, there will be other ambitious colleagues that follow this strategy, but you will on average come out on top and with some luck eventually land that position.Plus like someone else said, the “boring middle” is also called life, so you do want to strike a balance of being able to enjoy it, which you’ll easily be able to, and money can help there (hobbies, travel, convenience, etc). You are wise for a youngin, you have a rich future ahead! 123. [deleted] • 1 yr. ago.And have renter's insurance, but wondering if it would still make sense to get an umbrella policy too in case of a bad car accident or our dog bites someone. Yes. $1m at least on top of your renters insurance. Will cost you less than $500 a year. Not many insurers will issue such a policy if you don’t have a homeowners or car policy already.The typical "mainstream media" FIRE situation looks something like this: Two engineers with no kids and six-figure incomes save 80% of their pay for six or seven years, ride a bull market, and ...Our American Express card has a $250 annual fee. It offers 4x Amex membership points on 2 most used categories per month, up to $120,000/year, then 1 point per $1 spent. We use this card exclusively for shipping charges since we go over the $120K maximum every year. The points add up really fast with the 4x benefit. After we reviewed our finances and realized we were still paying, we cancelled after more than a year of no contact. Boardsi is a scam that relies on rubes to forget they are paying for the service. Hello, rubes. I am currently working with them to build a board. What is FatFIRE? FatFIRE is Financial Independence / Retire Early at an overabundant or luxurious level. Unlike FIRE (and leanFIRE in particular), FatFIRE is …I just opened a brokerage account, I’m in my 20s looking for tech stocks that have a huge upside potential, something like nvidia or AI… appreciate it. r/Fire: FI/RE (Financial Independence / Retiring Early) is a money strategy that's sweeping the nation. It's not easy, but it is simple: earn more ….We currently save ~$150K in a MCOL between 401ks, IRAs, savings, and brokerages each year. Our goal is to have $10M by the time I reach 50 (15 years from now). Last year we saved $234K. Our net worth went from $120K to $430K. So about $75K gain from investments. My wife and I never had a specific savings target.R. A lion was ... According to the passage, what is the difference between the adherents of Fat FIRE and Lean FIRE when it comes to their standards of living?Sep 13, 2022 · The acronym stands for Financial Independence, Retire Early. Fat refers to the abundant nest egg one must acquire to gain the financial independence to retire early. This movement shares some of... RothRT • 4 mo. ago. Keep in mind that there is the RE element to FatFIRE. Lifestyle creep during the earning years, for some, can delay attainment of FIRE, even at fat levels. Sometimes I feel like this sub is too much about the Fat and not enough about the FIRE. Entrepreneurs_TV • 4 mo. ago.
My guess: the difference stems from the way that most of the people here achieve FatFIRE. The stories I see are mostly windfall stories like stock options, business acquisition, etc. The rich old guys you know sound like they built their wealth through compounding gains of cashflow over a long period of time.. Scp 096 origins
r/fatFIRE • 1 mo. ago by TopCrab129 Am i ready for Fat Fire Not sure if I belong in this community but am posting regardless, I'm 54M, physician.Getting into real estate. So I'm very lucky. I'm 25 years old, 3 years ago I inherited about 13 million dollars. A 2.5 million dollar house fully paid off in a HCOL area (Bay Area), two more houses in California (worth about a million together), which are paid off and currently rented out. A 5 million dollar stock portfolio being managed by a ... Business, Economics, and Finance. GameStop Moderna Pfizer Johnson & Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. Crypto. Cardano Dogecoin Algorand Bitcoin LitecoinWe would like to show you a description here but the site won’t allow us.Montgomery County, Kansas. / 37.200°N 95.733°W / 37.200; -95.733. Montgomery County (county code MG) is a county located in Southeast Kansas. Its county seat is …Feedback for high-end massage chairs. Curious if anybody here has gotten them and what your thoughts are. I'm looking at newest Human Touch model, 15-20% off for BF and considering taking the plunge. I remember testing them out 5-10 years ago when I wasn't realistically considering them and felt the technology just wasn't quite there.Failure to do so is going to lead to the accounts continuing to appreciate until RMDs start in your 70s. At that time, you will have a base level of income (fat fire folks, likely around $75k /yr of 2023 dollars. That will make the withdrawals (including a ton of appreciation) taxed at your top marginal rate which is above 10%. r/REBubble: A place to freely discuss and investigate the current US housing bubble. Share evidence, zillow screenshots and other interesting items.We would like to show you a description here but the site won’t allow us.The subreddit r/fatFIRE ended up overtaking both the FIRE and leanFIRE versions and now has over 325,000 members who are ambitious, career-oriented, and value time and freedom above all else.Fashion. Deal Grabbers. Browsers. Top 1%. Ranked by Size. 138,004 members. 14,977 members. r/frugalmalefashion: The place for coupons, discounts, sales, and deals when it comes to male fashion. Visit the Wiki for more information regarding ….In addition to the "extra $280K," you'll also need to spend (say) $150K to sell your current house (brokerage commissions, closing costs, etc) and to pay for moving. That's a lot of money just to upgrade from a $2M house to a $2.52M house. Not if they sell their existing house for 10% more “than it is worth” as well.Provided your investment is liquid, growth is almost always taxed more favorably than cash flow so just shave some off when you need it. Better control on the timing on cash flow (you sell when you need to) and lower tax rates for capital gains. Main_Cherry_5079 • 2 yr. ago.The eng numbers are way off. You can readily make 150-250k out of college now, with any senior software engineer hitting 400-450 with 5-10 years experience. -2. BarcodeZebra • 3 yr. ago. I know Reddit tends to forget this, but software engineers make up a tiny percentage of the "engineering" profession.The scope of FatFIRE extends beyond the conventional retirement mindset. It encourages individuals to envision a retirement lifestyle where they can indulge in personal passions, travel, support loved ones, and maintain a higher standard of living. In essence, FatFIRE offers the financial flexibility to make the most of your retirement years.Sep 20, 2022 ... Reddit has an anti/work subreddit, but there is also a large r/fatFIRE group. This crowd eschews the traditional wealth management advice of ...And have renter's insurance, but wondering if it would still make sense to get an umbrella policy too in case of a bad car accident or our dog bites someone. Yes. $1m at least on top of your renters insurance. Will cost you less than $500 a year. Not many insurers will issue such a policy if you don’t have a homeowners or car policy already. Pretty much normal, housing, travel, food etc. I overspend a bunch on food and entertainment but don’t buy a lot of stuff. Usually $250-275k a year, but more this year with how hotels and other travel-related expenses have blown up, plus we bought a Tesla Model S. Biggest expense categories are travel and dining out.Overall UI is MUCH better on Schwab, and there's an instant calculation of PAL available balance to draw from depending on daily market movements, trading activity, etc. One interesting difference is that JPM uses daily SOFR whereas Schwab is 30-day average. So the day FED increased rates, JPM increased commensurately.FatFIRE: With fatFIRE, the goal is to earn as much money as you can to save enough to live a comfortable and enjoyable retirement without cutting costs or diminishing your standard of living. FatFIRE …r/fatFIRE • 1 mo. ago by TopCrab129 Am i ready for Fat Fire Not sure if I belong in this community but am posting regardless, I'm 54M, physician..
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