I start every year by revisiting my financial mission statement, adjusting my personal long-term FIRE goals, and setting new annual financial goals (see 2023). I find physically writing down my goals and revisiting them on a regular schedule, annually in my case, to be an incredibly valuable exercise.
I love how clearly you've laid out your reflections on past and future goals here. I want to nail down a FIRE mission statement at last for myself as well.
My votes on which upcoming posts I personally most want to see:
1. The Impact of Kids on FIRE
2. Personal Inflation Rate: Tracking Avocado Prices
3. Getting Unstuck from the Boring Middle on the Journey to FIRE
4. Life and Umbrella Insurance for FAANG
5. What You Should Know About Sequence of Return Risk
Well written, Andre. Though I was hoping that you'll end up with a revised Mission Statement after all. I agree that your "Enough Number" is too low if you want to live in the Bay Area.
Looking forward to reading your views on:
*HSA: Health Savings Accounts for FIRE - There's only once that I opted for the HDHP+HSA option and that year we needed to go to the ER twice and get a bunch of tests only to realize that it ended up costing me more than it saved. Do factor that risk into your calculations and your article.
*Simplifying and Consolidating Your Financial Life - I too started on that journey last year. Simplifying by selling individual stocks and buying index funds, and consolidating accounts. I figured that over-consolidation would be risky (in case one of my accounts is locked out etc.) so I'm choosing to keep at least 2-3 of each of the checking, savings, individual brokerage, retirement, and credit card accounts.
*Life and Umbrella Insurance for FAANG - Reviewed and doubled coverage on both last year. Would love to know your views on it.
Suggestion: Would love to know your thoughts on Target Date Funds. Perhaps you can include it in your "Simplifying and Consolidating Your Financial Life" post or write a dedicated one. While I'm perfectly fine with the 3-fund asset allocation strategy and optimize asset location for taxes, I don't think my spouse can handle it. So I'm recommending a TDF2060 Index Fund for her. Thoughts?
If you don’t mind me asking, how do you manage to out $13k in your Roth IRA annually, given that the contribution limit is $7000 for 2024 (and $6500 for 2023)?
Am I missing an obvious way to increase my Roth IRA contributions ? Or are you simply considering yours + partners as a total ?
I love how clearly you've laid out your reflections on past and future goals here. I want to nail down a FIRE mission statement at last for myself as well.
My votes on which upcoming posts I personally most want to see:
1. The Impact of Kids on FIRE
2. Personal Inflation Rate: Tracking Avocado Prices
3. Getting Unstuck from the Boring Middle on the Journey to FIRE
4. Life and Umbrella Insurance for FAANG
5. What You Should Know About Sequence of Return Risk
I listen to the audio, it gives a lot more personality. Hearing the action item "do more laundry" I imagined this was actually an audiobook.
Well written, Andre. Though I was hoping that you'll end up with a revised Mission Statement after all. I agree that your "Enough Number" is too low if you want to live in the Bay Area.
Looking forward to reading your views on:
*HSA: Health Savings Accounts for FIRE - There's only once that I opted for the HDHP+HSA option and that year we needed to go to the ER twice and get a bunch of tests only to realize that it ended up costing me more than it saved. Do factor that risk into your calculations and your article.
*Simplifying and Consolidating Your Financial Life - I too started on that journey last year. Simplifying by selling individual stocks and buying index funds, and consolidating accounts. I figured that over-consolidation would be risky (in case one of my accounts is locked out etc.) so I'm choosing to keep at least 2-3 of each of the checking, savings, individual brokerage, retirement, and credit card accounts.
*Life and Umbrella Insurance for FAANG - Reviewed and doubled coverage on both last year. Would love to know your views on it.
Suggestion: Would love to know your thoughts on Target Date Funds. Perhaps you can include it in your "Simplifying and Consolidating Your Financial Life" post or write a dedicated one. While I'm perfectly fine with the 3-fund asset allocation strategy and optimize asset location for taxes, I don't think my spouse can handle it. So I'm recommending a TDF2060 Index Fund for her. Thoughts?
I do have few questions, how do I set up time for 1:1 chat
If you don’t mind me asking, how do you manage to out $13k in your Roth IRA annually, given that the contribution limit is $7000 for 2024 (and $6500 for 2023)?
Am I missing an obvious way to increase my Roth IRA contributions ? Or are you simply considering yours + partners as a total ?