Capital one atm near me right now

August 25, 2021 / Rating: 4.7 / Views: 917

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Financial independence retire early investing

This opportunity drove me to learn more about investments and Financial Independence (FI) is one of the most important concepts that I came across. Knowledge of FI helps me to plan my family’s future by understanding about our financial goal in 10, 20 or 30 years. FI doesn’t make me obsessed with earning more or spending less money. It helps me to understand what’s enough and what I can do after I have the F-money. I’d recommend everyone to read “The simple path to wealth” by J L Collins, through which I’ve learned everything I needed about FI. We spent most of our money on essential things such as foods, clothes and education. Because that book and so many other literatures already explain so well about FI, this post will simply focus on my personal experience. It was clear to me my parents would only spend money on reasonable things. We’ve never had a dinner in a fancy restaurant, we’ve never had a family trip to any resorts or sightseeing places. Maybe it was the living standard at that time, or maybe I was just raised not to think that way. Regarding FI, here’s what I learn from my parents It’s pretty simple and obvious thing to say, but I believe that I am able to embrace that idea naturally only because of the way I was raised by my parents. My wife and I started to live in Japan together after we got married in October 2013. At that time, my scholarship was 120K yen per month, basically, two of us were living under one person’s budget. Our fixed expense including rent, electricity, cellphones, etc was at least 80K yen. We had 40K yen left for food, clothes, books and everything else. As expected, we ran out of existing savings after 4 months and needed to borrow money from friends. It was tough, but we were fairly happy and optimistic, since I will start to work from April 2014. I actually used my first paycheck to pay off all the debts. Anyway, here’s what I learned Still, I don’t ever want to experience that again, if you live in Tokyo, you would know how hard it is for two people to live with 120K yen per month. To compare, our current monthly food-only expense is already more than that. Anyway, we always laugh when looking back at that period, which has become a tough but beautiful memory. Ever since I graduated, I have never needed to worry about money. Nonetheless, my wife and I’ve been always set a yearly spending target. Both our income and expense have grown several times in the past 7 years, but we always make sure that the ratio saving/expense is between 1 and 2. In other words, we’ve never spent more than 50% of our yearly net income but we try not to spend less than 1/3. We were able to stick to that by following my parents, keep our expense on things that matter and are reasonable. We spend heavily on high quality foods, books, healthcare and basic entertainments. We travel once or twice per year, maybe will be three times after our kids grow up. On the other hand, we don’t go out to spend 30K yen on a dinner, even though we could. We don’t buy expensive watches, wallets, bags, because we don’t think they are worth it, even though it would only cost a fraction of our income. I came to know about FI just a half year ago, but our living style for the past 7 years is already close to what we should do to achieve it. I’ve been talking about saving and spending, but investment is just as important to achieve FI. I don’t normally regret things, but I do regret not to invest more earlier in my life. For the first several years after I started working, half of our saving was in stock (MSFT), half was in cash. I thought we already had enough money, so besides keeping RSU and buying through ESPP, I didn’t even do any research on investment. It was a mistake, I realized it several years ago and start to actively trade stocks. However, my first year as a novice investor wasn’t fun. I made the same mistakes as most novice investors did: bad stock picking, trade with emotion, buy high sell low, etc. I lost some money because of those mistakes, but luckily my other long term gains still outweigh that lost. It was tough time as an investor, but I believe it was a meaningful experience which helps me to fully appreciate the beauty of long term investments. My investment principle is simple, invest as much as I can afford as follows Please note all the index funds I mentioned above are the ones that have the lowest fees in their respective tracking indices and brokers. Also, my strategy will probably change as I am closer to my retirement. I almost gave up picking individual stocks, with the exceptions of AMZN and MSFT. As a software engineer, I strongly believe those stocks will outgrow SP500 in the next 5 years. My investment style is extremely aggressive, most of the time I actually only have around 500K yen in cash. I was able to follow this because Although unlikely, you can decide investment is not for you after you understand it. Invest your time to educate yourself on investment, you won’t regret it. Besides “The simple path to wealth”, I also recommend “The little book of common sense investing” by J C Bogle, the founder of Vanguard Group, I am half way reading that book right now. With our current net worth, income and living style, it probably will take us 5–10 years to reach FI number. However, I feel it doesn’t matter how long it takes. Even if it’s 20 years, I would be happy because I really enjoy the knowledge and experiences that I gain through the process of reaching FI goal. I also don’t think I will retire early (FIRE), or my living style will dramatically change once I reach FI status. However, reaching FI would mean zero pressure financially or have a piece of mind. It’s OK not to work for years, it’s OK to have our kids study in US (so expensive), it’s OK to pursue something else other than career. I strongly believe FI is also a very important concept to teach my kids before they grow up. I’d love to see how they enjoy the process like my wife and I did. This opportunity drove me to learn more about investments and Financial Independence (FI) is one of the most important concepts that I came across. Knowledge of FI helps me to plan my family’s future by understanding about our financial goal in 10, 20 or 30 years. FI doesn’t make me obsessed with earning more or spending less money. It helps me to understand what’s enough and what I can do after I have the F-money. I’d recommend everyone to read “The simple path to wealth” by J L Collins, through which I’ve learned everything I needed about FI. We spent most of our money on essential things such as foods, clothes and education. Because that book and so many other literatures already explain so well about FI, this post will simply focus on my personal experience. It was clear to me my parents would only spend money on reasonable things. We’ve never had a dinner in a fancy restaurant, we’ve never had a family trip to any resorts or sightseeing places. Maybe it was the living standard at that time, or maybe I was just raised not to think that way. Regarding FI, here’s what I learn from my parents It’s pretty simple and obvious thing to say, but I believe that I am able to embrace that idea naturally only because of the way I was raised by my parents. My wife and I started to live in Japan together after we got married in October 2013. At that time, my scholarship was 120K yen per month, basically, two of us were living under one person’s budget. Our fixed expense including rent, electricity, cellphones, etc was at least 80K yen. We had 40K yen left for food, clothes, books and everything else. As expected, we ran out of existing savings after 4 months and needed to borrow money from friends. It was tough, but we were fairly happy and optimistic, since I will start to work from April 2014. I actually used my first paycheck to pay off all the debts. Anyway, here’s what I learned Still, I don’t ever want to experience that again, if you live in Tokyo, you would know how hard it is for two people to live with 120K yen per month. To compare, our current monthly food-only expense is already more than that. Anyway, we always laugh when looking back at that period, which has become a tough but beautiful memory. Ever since I graduated, I have never needed to worry about money. Nonetheless, my wife and I’ve been always set a yearly spending target. Both our income and expense have grown several times in the past 7 years, but we always make sure that the ratio saving/expense is between 1 and 2. In other words, we’ve never spent more than 50% of our yearly net income but we try not to spend less than 1/3. We were able to stick to that by following my parents, keep our expense on things that matter and are reasonable. We spend heavily on high quality foods, books, healthcare and basic entertainments. We travel once or twice per year, maybe will be three times after our kids grow up. On the other hand, we don’t go out to spend 30K yen on a dinner, even though we could. We don’t buy expensive watches, wallets, bags, because we don’t think they are worth it, even though it would only cost a fraction of our income. I came to know about FI just a half year ago, but our living style for the past 7 years is already close to what we should do to achieve it. I’ve been talking about saving and spending, but investment is just as important to achieve FI. I don’t normally regret things, but I do regret not to invest more earlier in my life. For the first several years after I started working, half of our saving was in stock (MSFT), half was in cash. I thought we already had enough money, so besides keeping RSU and buying through ESPP, I didn’t even do any research on investment. It was a mistake, I realized it several years ago and start to actively trade stocks. However, my first year as a novice investor wasn’t fun. I made the same mistakes as most novice investors did: bad stock picking, trade with emotion, buy high sell low, etc. I lost some money because of those mistakes, but luckily my other long term gains still outweigh that lost. It was tough time as an investor, but I believe it was a meaningful experience which helps me to fully appreciate the beauty of long term investments. My investment principle is simple, invest as much as I can afford as follows Please note all the index funds I mentioned above are the ones that have the lowest fees in their respective tracking indices and brokers. Also, my strategy will probably change as I am closer to my retirement. I almost gave up picking individual stocks, with the exceptions of AMZN and MSFT. As a software engineer, I strongly believe those stocks will outgrow SP500 in the next 5 years. My investment style is extremely aggressive, most of the time I actually only have around 500K yen in cash. I was able to follow this because Although unlikely, you can decide investment is not for you after you understand it. Invest your time to educate yourself on investment, you won’t regret it. Besides “The simple path to wealth”, I also recommend “The little book of common sense investing” by J C Bogle, the founder of Vanguard Group, I am half way reading that book right now. With our current net worth, income and living style, it probably will take us 5–10 years to reach FI number. However, I feel it doesn’t matter how long it takes. Even if it’s 20 years, I would be happy because I really enjoy the knowledge and experiences that I gain through the process of reaching FI goal. I also don’t think I will retire early (FIRE), or my living style will dramatically change once I reach FI status. However, reaching FI would mean zero pressure financially or have a piece of mind. It’s OK not to work for years, it’s OK to have our kids study in US (so expensive), it’s OK to pursue something else other than career. I strongly believe FI is also a very important concept to teach my kids before they grow up. I’d love to see how they enjoy the process like my wife and I did.

date: 25-Aug-2021 22:00next


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