Question in title.

Basically, I've been diligently pursuing FIRE for my entire career. I'm older-30s, married (keep finances separate), hit $2.1M LNW ($2.25M TNW), spend ~$55K to $60K/yr and live very comfortably on that.

For my job, I make about $550K/yr (increased substantially in recent years). Job is typically low stress, very decent hours. Though things have gotten busier this year. If I stay through beginning of the year, I would be able to get my bonus and also fill up 401k plus match. This would equate to about $186K post-tax (for the portions subject to tax) I pull in if I work another 6 months.

$186K for 6 months time is mighty tempting! That's an extra $7,440/yr additional spend for life. That's an 8.8% increase to my total $2.1 LNW saved for just 6 more months. I don't think working this extra 6 months would push me to continuously push out another 6 months (or however long). I realize the risk of perpetual OMY, but also that leaving at beginning of the year is very practical with bonus/401k.

On the other hand, I want to say F-it and be done. I have ENOUGH. I feel like I'm emotionally ready to take the step. Sure, more would be nice. But life is short, and I want to choose how I spend my time.

So, what do folks think? What would you do?

Whenever I use these compound interest calculators to calculate how much money I will have in retirement I usually count until 65 . but probably shouldn't have 100% of my money allocated into stocks up until I retire, correct?

I feel like everyone's plan is different so just curious what you guys are doing

Are you keeping it 100% into stocks until you die 100% into stocks until retirement Or are you already not 100% into stocks

It's been a number of years since I've used a financial advisor, mostly because I didn't want to pay them the 1% fee which can add up to 7 figures of difference over a lifetime of compounding, and because I'd rather just manage everything myself. But I've been seeing a lot of articles lately about more and more financial advisors beginning to recommend the bitcoin spot ETFs and I'm wondering what the best practice is considered for how to use them and what percent allocation is ideal for FIRE. This says half of advisors will recommend it to clients within the next 12 months. https://www.wealthmanagement.com/alternative-investments/report-half-advisors-recommend-crypto-next-12-months

And this article says 40% already recommend it to the majority of their clients. https://www.prnewswire.com/news-releases/forty-percent-of-financial-advisors-recommend-crypto-to-the-majority-of-their-clients-302232926.html

I know everyone has a unique risk tolerance and time horizon but I'm just curious to hear what everyone thinks and if you're currently using crypto or the spot etfs in your portfolio. With the high volatility there's also a question about if/when to re-balance. Let me know what you think!

https://www.investopedia.com/tech/do-advisors-have-fiduciary-responsibility-offer-bitcoin/

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I had always seen online that an independent adult child covered under their parent's HDHP could open their own HSA. For example: https://www.bogleheads.org/forum/viewtopic.php?t=426183, https://ttlc.intuit.com/community/tax-credits-deductions/discussion/i-am-an-independent-child-under-my-parents-insurance-plan-i-m-24-can-i-still-be-covered-by-my/00/233052, https://www.christensengroup.com/article/hsa-contributions-for-adult-children-on-parents-health-coverage

However, there have been multiple issues while attempting to set up my own HSA account.

The HDHP I am covered under is GEHA. When I called them to ask about my eligibility, they said I wasn't eligible since only the policy holder could have an HSA. However, when I read their HSA FAQ, and policy, nowhere does it say that. When I told the person on the phone, she agreed that it wasn't written. However, she asked many of her colleagues while I was put on hold and they all told her that I wasn't eligible.

I also called two different HSA providers: HSAbank and Fidelity. I called HSAbank since that was the provider for GEHA, and I called Fidelity because it was a well recommended individual HSA provider online. Both of them told me that since I am not the payer/policy subscriber of the HDHP, I cannot open an HSA account. When I told Fidelity that I read online that it was a loophole, the agent said they never heard of it before.

Losing hope, I stumbled across this Lively FAQ which said I was indeed eligible: https://support.livelyme.com/hc/en-us/articles/360031022651-Can-non-dependent-children-open-a-separate-HSA

Lively seems to be a reputable HSA provider from what I read online. When I messaged a Lively agent, they told me that I am able to open an account since it was known as the "Adult Child Loophole", and I fit the qualifications (i.e. Be covered by a qualifying HDHP, Have no other health insurance, Cannot be enrolled in Medicare, Cannot be claimed as a tax dependent on someone else’s tax return, Be between the ages of 18 - 65). When I told them that I was denied an account from Fidelity, the agent said they were surprised since they definitely see these accounts being opened with Lively. They also said my insurance may have some sort of stipulation limiting the plan holder to 1 HSA, but they have not heard of that before.

After reading some more online, I saw this reddit post from 4 years ago basically saying it was a grey area, and the comment thread is also conflicting. https://www.reddit.com/r/financialindependence/comments/ie2jo8/rules_for_an_adult_child_opening_an_hsa/

Basically, I have no idea who is right. I know GEHA, HSAbank, and Fidelity are all telling me no, but it seems like they may be misinformed if the Lively agent says they open accounts like mine all the time. I know the reddit thread said it was a grey area, but that was 4 years ago and things may have changed. I would love to take advantage of an HSA. Are there any professionals who have dealt with this issue that could point me in the right direction? Thank you.

• Age 29M married to 29F with 1 newborn in a HCOL
• NW: $417k
  • Assets:
    • Home Equity $230,000
    • Taxable Brokerage account $125,000 (earmarked for retirement)
    • IRA accounts: $45,000
    • 401k Balance: $16,000
    • Cash (combo of checking, HYSA, & actual cash): $67,000
  • Debts:
    • Wife student loan: $66,000 @ 3.5% interest rate
• Combined salary between us of $195,000 before bonus (roughly 5% annually) with a take-home combined of 10k (after insurance, HSA, & 401k deductions)
  • Monthly expenses:
    • Living (mortgage & utilities, car lease payment, groceries) - $3,750
    • student loan payment: $500
  • leaves us with $5,750 and being in a HCOL our credit card bill floats around $2,000 leaving us with roughly $2,750 to save

Reason I'm posting here is because we are in a 2 bedroom townhome (purchased in 2021 @ 3.125% mortgage rate) and once we have a second kid, we will outgrow and need to move. We would like to have our second child in roughly 2 years from now and dont want to alter that timeline due to financial constraints as we really value the importance of growing our family. We will most likely need well over $100,000 (150,000 is a decent estimate given the current RE market) for a downpayment. The easy answer is that I can sell my current home and use the proceeds for a downpayment, however units rent out in my neighborhood around $3,000 which sets me up for $1,000 a month in cashflow. (all in mortgage payment is $2,000). We live in a homeowners association that covers the entire exterior of the home, and we recently did renovations so wouldn't expect any major costs to be sunk into the home in the near future.

I have never owned a rental property before and as such don't know the demand/risks involved with being a landlord, but I am willing to put in the sweat/mind equity if its worth it. My options are as follows:

My current options are as follows for the next two years:

• Plan 1
  • Plan to keep current home as rental property and generate $1,000 a month in net cash flow
  • Keep retirement contributions as is ($600 + $300 employer contributions monthly)
  • Put the excess monthly funds in a HYSA earmarking for the downpayment
    • Would get me to 66k but anticipating salary raises + supplemental income as I am also a real estate agent part time.
    • Would like to avoid a HELOC but can dip into equity if I need a bit more to get funds for downpayment
• Plan 2
  • Sell current home when time comes and use proceeds as downpayment for new home
  • Beginning now, increase retirement contributions to personal IRS limits and have leftover for brokerage/HYSA/ or paying down student loan.

I know that the expense of children will also eat into my savings rate, however I don't anticipate having to pay for daycare anytime soon as grandparents are extremely local and willing to watch the kid(s) whenever need be, wife and I also work hybrid jobs and can stagger our days that were home so someone will always be around to watch.

Appreciate any advice or comments!

*EDIT* - For the past 6 months have been contributing $1000 pre tax monthly to my HSA as we had a plethora of hospital bills related to pregnancy complications, bills should be paid in the next month or so and the plan is to shift those contributions into the 401k

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Hi All, I'm seeking advice from the community on things to watch out for as I save money in my thirties and enter a new chapter of life which involves kids, a house, and overall many opportunities to make financial decisions of consequence. Here's my financial snapshot:

• Age: 31 years old.
• NetWorth: ~350k

Income and Savings

• Me 145k + Wife 70k = 215k Total Household Income
• 401k: 290k invested in 100% ETFs tracking the overall stock market performance
• High Yield Savings: 110k (downpayment for home in HCOL area)
• Standard Checking + Savings: 3k

Debt

• Student loan: 38k (down from 150k 3 years ago)

Assets:

• Decades old Subaru with 245k miles
• Decades old Honda with 255k miles

Monthly budget summary:

• 12k take home
• 2,150 rent
• 5k to house savings
• 1.5k to student loan repayment
• With whats left we cover all other life expenses and usually save more towards the house or paying down the student loan.

I stopped contributing to my 401k for calendar year 2024 in an effort to put more money to the student loan + house savings. I have been aggressively saving in my 401k since I was 23 and will resume contributions in 2025. Monthly contributions will be around 1.5k per month.

In the next year a lot of changes will happen. I'll be having my first child, be purchasing a home, and will likely need to upgrade one of our two cars to something a bit more reliable and safe for the family when it is time.

If anyone out there has any pieces of advice, inspiration, or suggestions based on what I've shared I'd love to hear them. Thanks all! Love this sub.

Let's get the discussion going instead of having an echo chamber. What do you believe or practice that is unorthodox or controversial?

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Hello everyone. It feels like my wife and I are at a crossroads. We have been working full time at stressful healthcare jobs for 24 years now. There has also been a lot of stress over the past decade caring for aging and sick family members. We are both currently healthy, but I do have a chronic condition that is associated significantly reduced lifespan (about 10 years on average). Also my father developed cancer at 55 and was gone at 57.

We are seeking some perspective and advice about the best way to move forward. We will provide an abbreviated picture below but are will to provide more details as needed. Thanks!

Wife and I turned 48 this summer. We have a daughter age 12.

No debt. Home is valued at $569k on Zillow.

Her 403b: $1,150k

His 403b: $1,335k

His TSP: $12k

Taxable savings/investments: $1,716k

HSA: $15k

Total liquid assets: approximately $4.2m

Not included in above is daughter's 529 plan which currently has $77k.

Income: Her: $160k, him: $180k

Between tax sheltered and taxable, we save about $180k yearly. This includes company matching.

Estimated social security if we stop contributing now and start withdrawal at full retirement age would be $76k per year total for both of us.

Our after-tax expenses have run about $75k the last few years. This includes comfortable living with vacations but not really any lumpy expenses such as new vehicles or home repairs. I would think maybe a yearly budget of roughly $25k might be reasonable for these? Not sure about this. It would be nice to increase spending at some time to a FATFIRE amount of say $150k. How would this affect our situation?

On our local ACA site, we can get insurance with $0 premium and $18900 max out of pocket. This would be with a claimed gross income of $90k or less.

Wife qualifies for 75% tuition discount at our main state university. This only applies if she stays on full time. We would be 58 when our daughter would make it through undergrad.

Question: Would you keep pushing, coast or stop working?

Although she would be okay with me stopping work, I would feel guilty about putting in less hours than her. The stress of working definitely affects me more than her. Our jobs can be scaled down to part time as well. Obviously lots of moving parts here. Just trying to get some perspective on what others would do in our place.

Appreciate the input. Thank you!

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I'm asking as someone with a FIRE mindset in the early stages of a relationship that has the potential to get more serious. I am a fairly high earner and saver, I make about $200k/yr and have a net worth around $750k. Nothing crazy, but still considerably ahead of many my age (33). I have a goal of retiring early, hopefully in my 40's. We live in NYC so obviously it's very expensive here, but I do not live lavishly. I am undecided on kids, but leaning towards not wanting them. I could see it with the right person though if finances were very good.

I have not yet shared this with my potential partner. We have not really had any conversations about money. She briefly expressed to me (while playing one of those relationship card games) that she is a bit traditional and does want the type of relationship where the man is a provider, but it doesn't have to be 100%. She has a good job and probably makes around half of what I do.

I'm realizing I don't think I could ever be ok with being the "provider" in a relationship. I am very nontraditional and am looking for a successful, financially minded woman to be my primary partner (currently practicing ENM). Me and my partner currently split dates and stuff around 70/30, me paying for 70% of stuff while she pays for around 30% of things we do. This is just how it's worked out naturally, I'm never asking her to pay for things, she just does around 30% of time, but big ticket items generally default to me. She doesn't really glance at the check when we go out for dinners, or offer to pay for tickets to events we go to and such. This is, frankly, a red flag for me. She will pay when we're hanging out at her apartment and order take out, or pick up drinks at the bar sometimes, things like this.

I think my ideal relationship is one where we generally split things 50/50. It doesn't have to be perfectly 50/50, but I just don't want to feel like I'm paying for the majority of things. It feels bad. Suddenly the cost of doing anything doubles and I just don't think I can stomach that long term.

So I'm wondering if I'm being realistic. I'm wondering what kind of situation other's with the same FIRE mindset and lifestyle have with their partners. Do you split 50/50? Do you split based on how much income each partner makes? How do you handle paying more for things?

Edit: I've realized through a lot of comments that a joint account is probably what makes the most sense in marriage. I think it's still tricky in the dating phases (and varying levels of seriousness), but in marriage I would be ok with a joint account we both deposit our incomes into (or portion of, with some being saved for personal fun money) and as long as we can maintain our desired lifestyle and savings rate to achieve our FIRE goal with that money then that sounds like something that would work well.

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I'm interested in early retirement. Right now I pay a marginal income tax rate of 22% federal and 5.49% state. I'm trying to decide if it's better to do Roth 401k or traditional 401k contributions. I max out my HSA and Roth IRA.

I've read that in early retirement, many people withdraw Roth 401k dollars to keep their income low and qualify for ACA subsidies. Withdrawing enough traditional 401k dollars disqualifies one from ACA subsidies, effectively introducing an extra tax.

Doesn't this make the Roth 401k option much more appealing, or am I missing something?

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Hey friends, resurrecting this account for the odd FIRE update which is probably more to celebrate here anonymously as I shy away from talking about money details with my real life buddies. So here we are with you, my online, never-gunna-know-you buddies!

As the title says, I just hit 200k which is a BIG milestone for me (35M). My leanFIRE (or maybe baristaFIRE) goal is 300k, which when I started, seemed impossible, and now I'm 2/3 of the way! I definitely won't FIRE at 300k, but that's the goal we're working towards now and then we'll recalibrate the goal machine.

Since my last update (which was at 50k - also felt HUGE at the time), I've gotten married which increased income, but also increased expenses. I'm still with the same company, but have gotten a few promotions which has been really fun. I also got permission to work remotely and moved to my wife's country which means I lost my housing allowance, but life is significantly cheaper here.

It took me 4.5 years to go from $400 NW (june 2017) to $100k NW (dec 2021). And it's now taken me 2.5 years to go from 100k (dec 2021) to 200k (sep 2024). Currently projecting to hit 300k around August 2028 - using a conservative linear projection (which is the wrong projection, I know) while also planning on buying a house somewhere in there and we're not going to count that in NW calculations.

Brief and rough rundown of the numbers

2017 (june) - 400 NW - 14.4k/yr income

2018 (june) - 6k NW - 18k/yr income

2019 (june) - 20.5k NW - 22.8k/yr income

2020 (june) - 45.9k NW - 27.6k/yr income

2021 (june) - 84.9k NW - 36.1k/yr income

2022 (june) - 112.4k NW - 43.7k/yr income

2023 (june) - 141.4k NW - 65.6k/yr income

2024 (sep) - 203.9k NW - 84.4k/yr income

Around 70% of the NW is wrapped up in 401k and IRA. With the other 30% in cash (including a HYSA where we're saving for a house and keep the emergency fund).

Besides the numerical goal, the plan is to keep trying to increase income and decrease expenses to the point where we can max out the 401k. That'll be a good feeling when that happens.

We're not going anywhere fast, but we're having fun along the way!

Hey all, need advice. 24M, and my sister who's 40 with 4 kids and a husband. I have a remote job and built my own life in Tampa, FL. Now, I should be promoted soon, and I'm about to pick up another remote side hustle, which will bring my income up by a lot.

Problem is I'm pretty broke at the moment, I have 3k in credit card debts, but I do have around 7-8k in investments. But 0 savings. I currently pay rent in Tampa, but during summer I left and spent almost 3 months with my relatives and my sister. Sister and 4 kids recently moved to Chicago which has way more job opportunities than Tampa does ofc.

I'm considering moving in with them for a year or so, getting rid of my 1.2k rent in FL and double down on working and income, so by the end of next year I can seriously get ahead financially.

My only concerns are if I can survive living with 4 kids (they go to school tho). I have my own car so I'll have some freedom. Her husband is working as a trucker so he's never home. And my sister also wants to get ahead financially and she will do the same online side hustle I'll be doing.

Should I do that? Or should I live alone and try to make it by myself living in apartment that I already set up for a good winter in FL? Living alone is obviously more freeing but at the same time a little bit depressing. Or maybe I should survive winter in FL before moving to cold winters of Chicago? My ultimate goal is to get to 100k net worth ASAP.

hi everyone! I'm new to this thread (and reddit in general) but am really glad I found it because this is exactly the kind of community that I was missing! (Friends are always so shocked when I talk finances and show them my trackers and spreadsheets...) I started my FI journey at 17 thanks to a HS financial literacy class (but also started pt work at 14) and realized how important it was for low-income folks like me to get informed. Lots of maximizing different credit card rewards and increasing my credit score but only recently got into investing. More focused on the FI but maybe RE later, would be nice if I could get my free diving certification to do Raja Ampat one day, but for now, would love thoughts and advice on moving all of my investments into ETFs/index funds, getting an FA, and prioritizing an apartment?

I was very fortunate to have gotten a full-ride and even graduated from college with a net profit and started investing at the beginning of COVID (picked my own) on Robinhood with retirement in mind. I only learned about ETFs/index funds a couple months ago and started investing 70% of my monthly income there. Like I mentioned in the heading, I'm an only child to aging parents, so finances is extra important. I chose a job that prioritized flexibility instead of income so I could be available when necessary and am also living at home for this reason. (I'm Chinese so it's pretty much expected that I become the primary caretaker, which I was slightly resentful of in the beginning but then learned to appreciate because it's my chance to give back). I'm also applying to other jobs (now that I know that parental care isn't THAT much time, mostly being around and letting them know I care) and thinking of starting a YouTube channel for passive income (have years of vlogs that haven't been edited so thinking of putting 1k a month into hiring an editor? It is an investment, right?) I also wrote a first draft of a memoir a couple years ago that I'm trying to develop (I had an opportunity to publish then but wanted to continue refining my craft before putting it in the big scary world) and am hoping to take a writing certificate or potentially a fully-funded MFA? Also applying for PhDs this/next cycle (depending on how my job prospects pan out), which may stall my earning potential for a bit if I commit

Since I'm currently an independent contractor for a foreign company, I don't have tax-sheltered retirement accounts...which really sucks, but I've maxed out my Roth every year (since 19 when I first found out about it) and have 20k in emergency funds (which is really important since I grew up with housing instability).

Quick stats
Roth: 27k (mostly in S&P500 -- should I swap for high dividends instead?)
CD/emergency: 20k
Vanguard: 24k (70/30 stocks/bonds for retirement/apartment)
Robinhood: 7k in stocks & 15k in crypto (should I liquidate and reinvest in ETFs?)
Monthly spending: 1k ( planning to reduce to 200-300 since...I was really letting myself go lol)
Credit Score: 799

I was planning to buy next year (once I hit 2y at this company and qualify for loans), probably something in the 150-200k range, to rent since we're currently in a rent-stabilized affordable housing unit (pros of being in and out of shelter for 10 years!) and can make a little more income (but it can also become the parents' place if they ever decide to get back tg lol). That's also why I've started putting money into short-term bonds, but should I be focusing on retirement? I was going to hire a FA to talk about all of this but figured I might start here since there are some super knowledgable people.

My parents both say that they have enough money to live comfortably and refuse to take any of my money, but I want to be prepared in the event that something happens and generally be able to take them out for dinner and occasional travel! (Took mom to Miami for her 65th, NY to LA road trip while returning to college, and LA & Disney for my grad, and she's repeatedly said how travel heals her soul -- she's very mentally ill as a result of what she's endured... And I take dad out for dinner every week whenever he's in the country, but we're still rebuilding our relationship since he was absent for most of my childhood~) They've both lived the non-stop grind immigrant life, and I want to be able to bring them joy and show that there's so much more out there, and financial independence is really the way to make all of this happen so looking forward to any and all advice! Also any tips on additional resources to learn more?

Thank you, thank you, thank you for taking the time to read this, and thank you in advance for any comments/advice!

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We all have a number. A number in our head that says, “once I hit this number, I will not need to work for a living anymore”. For me, the number is 5 million USD. Let’s not waste time getting into why that’s my number. The point is, getting to that number free and clear as quickly as possible is the goal here.

Recently, I ran into a large fork in the road and I am looking for an outside perspective on the best way to proceed with my goal in mind:

I am a physician. I bring home ~$200k per year after taxes. Despite my high income, I have a $2,400 monthly mortgage and still have student loans of $170,000 @ avg of 5% interest.

Whether it was right or wrong, during Covid my loan payments were paused so instead of paying off my loans, I invested in real estate. I now own 10 rental properties with a business partner that value ~ 1 million dollars. We have loans on all of them and average around 20% equity.

I finally began to focus on paying down my student loans this year, however was approached by my boss to buy the practice from him. Here’s the stats:

Cost: $1.3 million. Seller finance, 20% down (~$260k). 10% interest. 10 yr term.

Return: the business has gross profit of ~$475k each year. Revenue ~$1.3 million

I currently have liquid savings of ~$100k

To get to the point, I am trying to decide which of my three paths to commit to:

• debt pay down
• business purchase
• (keep 9-5) and continue pursuing real estate

I feel like I have many sticks in the fire and need an outside perspective on the fastest way to achieve my ultimate goal of achieving $5 million. Please help me break out of this box and get creative.

Add’l Context: -my wife makes ~$70k per year.

• My boss is not offering this as a “now or never” deal. It’s more like a “I’m ready when you are”
• I am likely going to continue to pursue real estate on the side regardless because I enjoy it

If you made it this far, thanks for your time and I truly appreciate your input.

Hello! I’m a 33M in HCOL area, married with two young children - using separate account as I don’t openly share any below information with anyone. I’m at a point where the growth of my portfolio (3-4% annually) combined with my rental income covers all our living expenses, and I’m looking to scale down my work. I’d love any insights on how you would manage and balance my investment portfolio if you were in my shoes.

Current Financial Situation:

• Total Investable Assets: $4M
• Brokerage Account: $2.6M
• Equity in Rental Real Estate: remaining $1.4m
• Primary Residence: not included in this amount, but paid off

Current Portfolio Breakdown:

• Apple: $700k
• Sysco (SYY): $500k
• Amazon: $250k
• Microsoft: $250k
• QQQ (ETF): $250k
• Remainder: 18 positions across energy, oil, retail, etc., with individual amounts ranging from $30k to $70k each.

Concerns and Goals:

• My portfolio is quite tech-heavy as those have grown at a disproportionate rate, and a large portion of our future seems dependent on a few key companies.

• The portfolio has cost basis of $350k, so rebalancing involves significant capital gains taxes. This portfolio has already undergone significant changes in the last 5-7 years—it was once 75% in Sysco (SYY), an inheritance from family member.

• I’m aiming to transition to a “set it and forget it” strategy that allows for more time with my family and less active management of my finances.

Given this context, what would you do if you were in my shoes? How would you approach rebalancing this portfolio to reduce risk and improve stability without triggering hefty tax consequences? Are there particular strategies or investment vehicles you’d recommend for someone looking to shift to a more passive management approach?

Thank you for your time and advice.

Rather than trying to work and save as much as possible in their 20s and 30s in order to retire early, some workers are flipping the script—taking mini-breaks while they're young, even if it means they'll have to work longer.

From Oyin Adedoyin:

When Dana Saperstein quit her marketing job to spend six months hiking the Pacific Crest Trail, the then-31-year-old thought of it as a microretirement.

“If I keep working myself to the bone until 60 years old, I might physically never be able” to hike the 2,650-mile Mexico-to-Canada trail, she said.

Saperstein is among a small number of workers in their 20s and 30s borrowing years of freedom from their future selves to enjoy some of their retirement while they are still young. 

Unlike followers of the FIRE movement, short for “financial independence, retire early,” those seeking microretirements say they aren’t looking for a shortcut to retirement by saving aggressively and living frugally. Their early retirement comes in the form of shorter breaks for travel or other pursuits.

Skip the paywall and read the full story: https://www.wsj.com/personal-finance/mini-retirements-career-breaks-travel-volunteer-ab5ce6f3?st=rxclqatmlisoaiz

(This post has been pre-approved by the mods.)

hello! this is a small update from my previous milestone post when i hit 150k net worth.

background

i’m in my mid-20s, debt-free, and still living at home. this is culturally normal for me and my family, but i’ve started exploring the possibility of moving out and potentially buying a property in Boston/the greater Boston area.

i’ve always wanted had FIRE as an end goal when i graduated from college, and i want to know if buying makes sense to get there. my FIRE number is probably around $1.5 to 2 million.

income

these are all rough estimates of my annual income, post-tax.

• 2020: $7k. graduated from uni and started working for my current company towards the end of the year, hence the low number.
• 2021: $62k.
• 2022: $84k. i got promoted during the year, and a nice raise.
• 2023: 110k.
• 2024: 130k.

net worth breakdown

• cash: 10k
• 401k: 100k
• HSA: 13k
• taxable: 209k
• roth ira: 18k

additional context

of course, a property is a very different investment compared to VTSAX. but i know that eventually, i will move out and i will need to pay rent/mortgage no matter what. a home will be a place for me to live first, and an investment second.

since i am living at home, i have zero rush to find a place. i’m hoping this means that i can take my time and find the right place for me to buy. for the monthly payment, i’m currently looking at places that would be about $3200 per month.

in my mind, i have the vague idea that in the future, if i get married and move into a different home, i’d likely sell or look into turning this first property into a rental. but in the present, a home feels like something that will cost a lot of money for a while before i can reap the benefits. there’s a lot of posts in this subreddit about the psychological freedom that comes with owning a place, which i think i agree with. i could just rent but i’ve seen/heard a lot of horror stories about significant rent increases, moving every year, etc.

my questions

1. i’d be liquidating about 100k of my taxable investment account to put down a 20% down payment. is this a wise decision? emotionally, it feels strange to think that i’d suddenly have 100k less invested in the market.
2. it feels like i have three options: buy now, or save even more and buy later for the peace of mind that might come with having a good cushion in the market in addition to enough money for a down payment, or rent. is this actually realistic?
3. is there anything else that i should be considering?

Self-promotion (ie posting about projects/businesses that you operate and can profit from) is typically a practice that is discouraged in /r/financialindependence, and these posts are removed through moderation. This is a thread where those rules do not apply. However, please do not post referral links in this thread.

Use this thread to talk about your blog, talk about your business, ask for feedback, etc. If the self-promotion starts to leak outside of this thread, we will once again return to a time where 100% of self-promotion posts are banned. Please use this space wisely.

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Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply!

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$1M in Investments Snip-It here with Reddit Time Stamp lol here

This is a three year update. My last post from 3 years ago is here.

In summary for those who don't want to read.. We started with nothing, work in finance, 2018 & 2019 had three kids. Investments started with $78k in 2017 and was $560k in 2022.

Below are highlights from a chart from my FIRE calc, from Google Sheets. The columns labeled "Actuals" are real figures, the rest are FIRE calc Figures. Here is a link to a snap shot

The FIRE calc I found was from the internet and once I updated it for increases in pay, which it wouldn't of known. The expected increase in investments is extremely aligned with actuals. It just goes to prove that it's a numbers game.

Big highlights that impacted each year:

2020: New Job + Bump in Pay for wife $40k

2024: New Job $40k increase

2018-2024: Spent $238k on Daycare

Currently my salary is $170k with 15% bonus and wife is around $150k with 15% bonus. These are "modest" salaries for a HCOL. Just to set expectations, I was fired from my first corporate job and all my raises and increase in salary was because I am not smart but I work hard and know my worth finally after 12 years in the industry.

Some other facts:

Monthly CC usually around $3.5k - excluding one offs

Our only debt is our Mortgage $2.1k a month

We finally finished our last daycare bill, all kids are in public school, so just a small aftercare cost

Summary of CC charge YTD here

We have $248k in our VTSAX after-tax account. Everything else is 401k, HSA, 529. So about $750k in everything else.

Please use this thread to have discussions which you don't feel warrant a new post to the sub. While the Rules for posting questions on the basics of personal finance/investing topics are relaxed a little bit here, the rules against memes/spam/self-promotion/excessive rudeness/politics still apply!

Have a look at the FAQ for this subreddit before posting to see if your question is frequently asked.

Since this post does tend to get busy, consider sorting the comments by "new" (instead of "best" or "top") to see the newest posts.