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Talking stocks, trading, and investing in general

Piobaire

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jbarwick

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Since we are talking HSAs, I decided to get reimbursed out of mine for my procedure. Since my original thought was FSA contributions, I decided to load up the HSA instead so anything leftover can stay in there, plus FSA is "use it or lose it". I decided right as the Dr. office could not estimate the procedure cost and I waaaay over estimated the cost on my own.

***Rant*** I am surprised a company has not come out with a better ability to estimate costs for the average consumer. There are some out there but they use the lowsy Medicare Cost Report which anyone can buy. The only real bundled payment options are hips and knees that I am aware of. rant over....

Piob is below the line:

rich.png
 

Piobaire

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I'd rather be poor in New York.

This gets to my definition of rich. Mine is that if you have enough resources to continue living the lifestyle you want to without working, on an indefinite basis, you are rich. So those "lean FIRE" people that dumpster dive and say they're happy living on 25k in a standard urban area? They're rich if they're telling the truth about being satisfied with their lifestyle, which I wonder about.

In about 10 years, if everything goes perfectly, I'll have the resources to continue living the lifestyle I want indefinitely. I hope that happens and it's douchemobiles forever...well, at least until I croak.
 

jbarwick

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You only read about the FIRE people that are happy with their decision. What is missing are those that FIRE'd, hated their decision, and went back to work. If they hated their job that much, maybe they are dreadful people to begin with?
 

Piobaire

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I've read several recent stories about people with some amazingly small bank roll, like 150-200k, thinking they'd FIRE in their 20s for life. Results predictable.

But I think my working definition of "rich" is a good one. If you have enough for what you want with never working again? You're rich.
 

UnFacconable

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My definition of rich is people with significantly more money than me. I would have to have a net worth north of $25M before that definition would change.
 

jcman311

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Yeah someone here posted those stories. @otc ? I think one was a couple where one of them got sick or something. If I were 30 and trying to live on nothing for the rest of my life, what fun would that be? Doesn't the well (fun, money, etc) run out at some point?
 

imatlas

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Well if your desire is to “live off the land” then cash is pretty much there to meet minimum necessities only.

If you plan to spend your life cruising from SUP yoga to backcountry skiing in your tiny home, 200K will disappear faster than your tolerance for your partners BO.
 

jbarwick

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If you use the rough assumption of 25x spending, 4% rule, I could retire at 54 and that is including a mortgage payment I don't expect to have. Remove mortgage payment from the estimate and I could retire before 50. I guess the question is, am I sacrificing too much now for more time later? Working more would only allow me to upgrade to a Doucemobile or spend more on bottles of wine and trips. Do I want to retire like Piob?
 

patrickBOOTH

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That's the thing, you have to find the right balance for yourself. I remind the people living like Gandhi that they can get cancer and drop dead at 40. Live a little.
 

jbarwick

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That's the thing, you have to find the right balance for yourself. I remind the people living like Gandhi that they can get cancer and drop dead at 40. Live a little.

My brother died at 35, my dad died at 56, and my grandpa died at 78. Genetics are after me. We don't forgo anything and only really contemplate big purchases but I guess I need to define that last sentence of what living a little more means to me without being reckless...
 

jcman311

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I think it's important as well to give a little. I think it is somewhat selfish *gasp* of the FIRE people to, as Piobaire would say "Live in poverty in order to retire early and live in poverty". Even if one does not have kids, they might have cousins, nieces and nephews, etc that could receive some legacy money. Or give it to a charity/foundation upon death. I am not going to do as my father did and finally retire at 72, but I don't plan at retiring at 50 either and use up my grandkids college fund. (no, I don't have grandkids yet)
 

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