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what the fuck is everyone’s plan? Mine is to achieve financial independence by living well within my means, saving a lot of my take home pay, and investing tha

what the fuck is everyone’s plan? Mine is to achieve financial independence by living well within my means, saving a lot of my take home pay, and investing that savings into index funds. Having that basis of financial security will, at some point, allow me some freedom to consult at my leisure. In the meantime, it gives me the freedom to leave a job if it turns out to go south.

ChrisMarshallNY 5y ago
> Mine is to achieve financial independence by living well within my means, saving a lot of my take home pay, and investing that savings into index funds. Bingo.
- cushychicken 5y ago
  It's working great so far!
skeeter2020 5y ago
You better hope the market continues this tear ad infinitum, 'cause nothing else pays any sort of return that you can survive on.
- ChrisMarshallNY 5y ago
  It won't, but it will allow a buildup that is going to survive the correction. I know that one of my funds has never made less than 6%, and that was in 2009. It has done considerably better, since (and before). I've been saving and investing 25%-40% of my income for over 30 years. If it all goes down the drain, I am quite capable of doing a whole lot of stuff. The classics are always a good bet.
- cushychicken 5y ago
  You better hope the market continues this tear ad infinitum Capitalism has a way of doing that, in spite of its momentary lapses and corrections. (Wish the same was true for health care.) Index funds are a good way to make sure that someone else is getting paid to do the hard work of investing for me. I'm cautiously optimistic.
- strix_varius 5y ago
  Most folks don’t plan to live purely on the returns. If the typical person works for 50 years, and you saved/invested 50% of your income for 25 years, then you’ve effectively matched both the means and the cost of living of someone making half your salary. As a software developer, it isn’t unrealistic to plan to retire around 45, for example.

ChrisMarshallNY 5y ago

> Mine is to achieve financial independence by living well within my means, saving a lot of my take home pay, and investing that savings into index funds. Bingo.

cushychicken 5y ago
It's working great so far!

skeeter2020 5y ago

You better hope the market continues this tear ad infinitum, 'cause nothing else pays any sort of return that you can survive on.

ChrisMarshallNY 5y ago
It won't, but it will allow a buildup that is going to survive the correction. I know that one of my funds has never made less than 6%, and that was in 2009. It has done considerably better, since (and before). I've been saving and investing 25%-40% of my income for over 30 years. If it all goes down the drain, I am quite capable of doing a whole lot of stuff. The classics are always a good bet.
cushychicken 5y ago
You better hope the market continues this tear ad infinitum Capitalism has a way of doing that, in spite of its momentary lapses and corrections. (Wish the same was true for health care.) Index funds are a good way to make sure that someone else is getting paid to do the hard work of investing for me. I'm cautiously optimistic.
strix_varius 5y ago
Most folks don’t plan to live purely on the returns. If the typical person works for 50 years, and you saved/invested 50% of your income for 25 years, then you’ve effectively matched both the means and the cost of living of someone making half your salary. As a software developer, it isn’t unrealistic to plan to retire around 45, for example.