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The parental support for college issue is heavily complicated by federal loan conditions. FAFSA filing requirements call upon your parent's financial situation until 24 years of age. In an early retirement sense, it may help that a parent's income is low. But the parent's assets totaling 1.5m certainly won't help when it comes time to apply for Pell Grants and subsidized Stafford loans. In the US at least, getting loans to pay for yourself to go to school is inextricably linked to your parents' financials. True retirement accounts don't count against you, but an ER fanatic likely has a substantial amount in taxable investments. Running some numbers, if your parents had 300k in taxable non-retirement assets and no real income, you'd only qualify for $5.5k of unsubsidized Stafford loans. Arizona State runs about $20k per year for in state tuition and fees. Your child would have to make at least $15k per year to cover the remaining burden. That's 40 hours a week at minimum wage ($7.25). A Parent PLUS loan probably isn't even an option given the parent has no income. In this sense you could really be leaving your child at a disadvantage if you are wealthy and unwilling to assist because of your own early retirement dream. Making your child bootstrap their own degree with 60 hour weeks between work and school is character building I am sure, but it's also pretty lovely when you have over a $100k in cash assets and a million in retirement. At least loan them the money at 3% interest or something.
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Nov 4, 2013 02:42
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Yeah AFAIK, the default federal status is now for banks to decline PIN enabled debit transactions in the case of insufficient funds. 'Overdraft Protection' is the opt-in package that allows you to overdraft on debit transactions and siphons money from savings and charges you a stupid fee in the process.
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Nov 6, 2013 22:39
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I'd think your ability to live frugally puts you in just as good of a position as someone who makes and saves more but demands a higher lifestyle. When my fiance and I budget it is difficult for us to prioritize life-style cuts below about 45k pre-tax. That's our magic number to feel like we aren't just working and living for later. Anything on top of that goes to savings. Once we get our house paid off that can drop to about 32k. If we made more we wouldn't feel the urge to spend it. We aren't highly material but we love restaurants and bars. It's just our thing, some people like video games or cars or golf or whatever. I'd rather work more and keep the restaurants in the budget at the end of the day. So I guess what I am saying is I could make twice as much as you and you'd still be able to retire as early as me because of your discipline and frugal lifestyle standards. The percentage you are saving is more important than anything.
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Nov 6, 2013 23:13
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I'll be a little sad knowing razz isn't wandering around the desert looking at birds anymore. Her lifestyle is one of those really interesting ones you don't hear much about these days. I feel like I've picked up on little tidbits here and there that are always intriguing. Edit: suddenly I think I might be confused, I thought you were in the sticks in Arizona already. Might be thinking of someone else. root of all eval fucked around with this message at 18:35 on Nov 7, 2013 |
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Nov 7, 2013 18:32
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I thought the argument framed was that a 8 month old game is still 'new' as far as industry goes, but can be purchased at a fraction of the launch price. 50%-60% off. That's hardly Doom vs COD. Steam has crazy sales multiple times a year and it's a great time to stock up. Nothing wrong with buying a new game, but you could buy 2 semi-new games for the same cost. Maybe we can agree that Pre-Ordering a new game is dumb for a variety of reasons.
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Feb 12, 2015 19:05
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Some people think that fundamental human change starts (and ends) with the individual. Edit: Furthermore, I'd go as far as to say that protesting political issues is much more naive and less likely to affect change that altering your immediate sphere of influence of 3-5 people and letting others in to your way of life through a blog. root of all eval fucked around with this message at 20:08 on Mar 3, 2015 |
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Mar 3, 2015 20:04
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I guess I look at policy and protest as parallel pursuits. The ideas and goals may seem the same at the surface but they are largely meant to serve a different purpose. Is protesting Keystone meant to incite policy change, or social awareness? Because it's clearly not doing anything to affect policy. Local/state protest can have more direct influence, but when you are talking federal level policy, they couldn't care less about protesters, even to the tune of 100k+. It's almost the same thing really. Protesting is applying just enough effort to make yourself feel better instead of devoting yourself to becoming a lobbyist or representative that can affect actual change.
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Mar 3, 2015 20:38
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AgrippaNothing posted:If we're using Mofabio's calculation that MMM has not used 50.000kg versus the 1000s of protesters keeping 4.8billion times that in the ground. I don't care how wildly successful your blog is it's not as big of an impact. Great that people are choosing to ride a bike and that can help with FI, but the impact isn't as big on climate change. I think the hangup is that some of us are not willing to attribute the carbon savings to the protesters.
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Mar 3, 2015 20:44
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I would (baselessly) argue that worker protections were more a result of working class unionization threatening business productivy and prosperity, than a result of popular opinion and policy reform. The vote was important but only when the leverage was present.
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Mar 5, 2015 23:01
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Edit: Wrong thread :p
root of all eval fucked around with this message at 16:47 on Mar 6, 2015 |
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Mar 6, 2015 09:18
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Do people really pay off houses? I feel like most people I've met move every 6-10 years and take out a fresh 30yr every time. I'm pretty much refusing to move until this thing is paid off so I don't waste all of those years on the interest-prioritized payments. It's a plenty big house even if we have 3 kids so hopefully it works out. I feel bad almost, I am pretty sure my mom is only 5-8 years into a 30yr at age 55 because of this. She's been in the same house for 14 years but refied at some point and opted for full term again. Mortgages kinda scare the poo poo out of me now that I have one. ^^^^^^ To the point above, I can see the wife and I packing up and moving to the midwest when we retire, we'll be able to buy a really nice plot for 300k, where it's a modest detached suburban home here in AZ.
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Mar 8, 2015 08:36
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Radbot posted:Buying a house just seems like a ridiculously massive gamble that you a.) will have the same job for AT LEAST five years after you buy, which seems laughable to me in my 20s, or b.) that you will be able to instantly find good tenants at a rate that will make you money, and never have any vacancies or repairs. Both situations COULD work, but don't seem likely to, in the majority of cases. Personally, I have pretty vague career goals and the secure feeling of owning a suburban Phoenix home trumps any real ambition to move and shake for a career. I am in a job market that still has a lot of growth potential and between Scottsdale and Tempe my commute is <45m either way. It was in my case a no-brainer, at least in the mid term of ~10-15 years. I can't really envision wanting a bigger house or changing neighborhoods unless I suddenly got like a $1mil windfall. It's plenty of room in a good middle ground locale. We opted for a 4 br so we have family growth potential too, even though its just the wife an I for now. If career were a primary goal I can see the reluctance, but I think being married (and boring) changes the priorities, and open options almost start to feel less secure than routine.
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Mar 17, 2015 01:13
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A lot of people talk about a mortgage being a 30yr inflation hedge, and stocks outperforming on average, but I am so right there with you. If I weren't trashing retirement I'd absolutely use savings and taxable investments to eliminate my house payment. Then I'd sell that fucker and move into a townhouse/condo and refund part of the investment accounts because oh god why do I own a 4 bedroom house?
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Apr 8, 2015 21:45
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The tone just got kind of intense. I thought all along the point was that it may not make perfect financial sense, but there are intangibles that make the personal preference for some folks.Inverse Icarus posted:Part of my brain thinks that holding on to investments will prove a better financial decision long-term, but a big part just screams "YOU'RE IN DEBT GET OUT OF DEBT GET OUT OF DEBT" whenever I see the mortgage balance.
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Apr 12, 2015 17:07
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surc posted:Campsites/Parks - 80/month I live in the middle of the desert, and this number is way out of line if you are camping anywhere with facilities. Zero would be a more rational number, because off grid camping is free, also staying in rest-stops, but you are talking less than 3-8 nights a month in an halfway established campground before you'd pass this figure. Where do you live?
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Jun 27, 2015 05:32
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tuyop posted:You should probably make a thread because this is a bit more in depth than a general discussion of RV/van living as an FI option. Do it.
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Jun 27, 2015 17:52
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Inverse Icarus posted:one guy who said he believes I somehow rolled it over and actually drove 1,100,000 miles. I am laughing way to hard at this.
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Jul 15, 2015 20:53
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baquerd posted:I went into work today, asking for a reduction to 4 days a week (every Friday off ). They offer me $60k to stay full time another year. I'm technically FI now due to a crazy couple of years with bonuses, but I took it anyways because I don't hate working there and the bonus works out to a ridiculous salary. 60k as an on-the-top bonus? To stay 1 year? Woah.
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Aug 4, 2015 00:04
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