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That's why I'm doing everything within my power to work towards getting financially free. It's not easy and it takes time, but I'm getting closer than I've ever

That's why I'm doing everything within my power to work towards getting financially free. It's not easy and it takes time, but I'm getting closer than I've ever been.

anotheryou 8y ago
I'll try to reduce work to 4 days a week soon (but I might wait for 12M at the company to pass and discus it along with a promised raise). It's something more immediate and realistic than hoping index funds will carry me one day (and it avoids some taxes... the 8 extra hours don't pay so well after taxes). Good luck to you though, I hope it all works out for us!
- SnowingXIV 8y ago
  Same boat. It's just hard to ask for more money and less hours at the same time. I'm trying to argue give me a smaller increase at reducing a day to be able to focus on hobby projects or just mental health. Unsure if it'll happen but fingers crossed!
  - anotheryou 8y ago
    Are you in germany by and chance? Law is in this case on the workers side here. (but of course I hope not to have to reference the law at all...)
    - SnowingXIV 8y ago
      I'm not but that sounds great!
martin1975 8y ago
just curious, what does your definition of financially free. entail? living off residual income or what?
- anotheryou 8y ago
  I guess he means something like this: https://networthify.com/calculator/earlyretirement?income=70000&initialBalance=0&expenses=25200&annualPct=5&withdrawalRate=4 https://networthify.com/calculator/earlyretirement?income=70... Might work if you trust index funds, earn quite well in the first place or (plan to) live in a cheap country and you are willing to do the grind for a few years.
- ronnier 8y ago
  Two things: 1) a good bit of cash and 2) passive income from multiple diverse sources that I can live a good lifestyle from that passive income such that I don’t need to work anymore — though I’ll work for a long time because I enjoy it, but I'll do something specifically that I want to do.
- scarface74 8y ago
  I'm not really that concerned about financial freedom right now. I am concerned with optionality. Meaning I never want to be stuck at a job I hate. For me that means a combination of staying marketable, keeping my network fresh, and being careful about "lifestyle inflation" so I won't have to always strive for the maximum income. It's a big stress reliever knowing that if things go bad, you can always jump ship.
- nexus2045 8y ago
  Probably of the Mr. Money Moustache flavour, r/financialindependence. Basically say 750k in index funds so that even a 3% return would net you enough to cover your basic expenses, perpetually.

That's why I'm doing everything within my power to work towards getting financially free. It's not easy and it takes time, but I'm getting closer than I've ever been.

anotheryou 8y ago

I'll try to reduce work to 4 days a week soon (but I might wait for 12M at the company to pass and discus it along with a promised raise). It's something more immediate and realistic than hoping index funds will carry me one day (and it avoids some taxes... the 8 extra hours don't pay so well after taxes). Good luck to you though, I hope it all works out for us!

SnowingXIV 8y ago
Same boat. It's just hard to ask for more money and less hours at the same time. I'm trying to argue give me a smaller increase at reducing a day to be able to focus on hobby projects or just mental health. Unsure if it'll happen but fingers crossed!
- anotheryou 8y ago
  Are you in germany by and chance? Law is in this case on the workers side here. (but of course I hope not to have to reference the law at all...)
  - SnowingXIV 8y ago
    I'm not but that sounds great!

martin1975 8y ago

just curious, what does your definition of financially free. entail? living off residual income or what?

anotheryou 8y ago
I guess he means something like this: https://networthify.com/calculator/earlyretirement?income=70000&initialBalance=0&expenses=25200&annualPct=5&withdrawalRate=4 https://networthify.com/calculator/earlyretirement?income=70... Might work if you trust index funds, earn quite well in the first place or (plan to) live in a cheap country and you are willing to do the grind for a few years.
ronnier 8y ago
Two things: 1) a good bit of cash and 2) passive income from multiple diverse sources that I can live a good lifestyle from that passive income such that I don’t need to work anymore — though I’ll work for a long time because I enjoy it, but I'll do something specifically that I want to do.
scarface74 8y ago
I'm not really that concerned about financial freedom right now. I am concerned with optionality. Meaning I never want to be stuck at a job I hate. For me that means a combination of staying marketable, keeping my network fresh, and being careful about "lifestyle inflation" so I won't have to always strive for the maximum income. It's a big stress reliever knowing that if things go bad, you can always jump ship.
nexus2045 8y ago
Probably of the Mr. Money Moustache flavour, r/financialindependence. Basically say 750k in index funds so that even a 3% return would net you enough to cover your basic expenses, perpetually.