Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [financial-independence]

14 questions
69
votes
11 answers

Why does it seem the best way to make a living is to invest in real estate?

I can't get past the idea that, if you work well in your job, you may get laid off or fired, and companies do not like to hire you when you get past the age 45 or 50. But if you invest in some houses or rental properties or fixer-upper, a lot of…
nonopolarity
  • 1,593
  • 2
  • 14
  • 21
54
votes
8 answers

How much money should I save in order to generate $1000/month for the rest of my life?

How much money do I need to make in order to generate 1k/month for the rest of my life? Is that even possible? If yes, in what way? Edit: I am 30 years old.
samouray
  • 657
  • 1
  • 6
  • 9
28
votes
7 answers

How much money would I need to feel secure in my job?

I have my first good paying "career" position (I'm 27), but I've heard stories about around 10 years ago when they laid of 60% of the company. I'm worried that this could happen again because I believe another recession may happen sometime in the…
Jared
  • 289
  • 1
  • 3
  • 3
7
votes
2 answers

I'm trying to figure out a formula for when I'll be able to retire at any given month

I love the Mad Fientist laboratory that lets me see how far away I am from FI. Here is what I love about, the right side to the graph: But to motivate me a bit more, I wanted to calculate the FI date on my own after each month so I would be able to…
Wiktor Doberschuetz
  • 73
  • 6
3
votes
2 answers

Mother using my details and committing fraud

I’ve lived with my single mother all my life in the UK. My bank accounts and all details, electoral etc are at the same address I’ve lived my entire life with her at. Growing up, whenever we (my siblings and I) earned, my mother had access to our…
user111759
  • 31
  • 1
2
votes
3 answers

Am I financially ready to buy a house?

I'm 23 and living at home, I want to move out but am worried I'm overlooking something or am overestimating my financial abilities. I have a full time job as a developer and have been in the job for 6 months and am in a program that gives me good…
CS2020
  • 315
  • 2
  • 6
2
votes
3 answers

Using property to achieve financial independence

I am working towards financial independence. The most impressive rate of returns in Pakistan have been in buying property; It provides a greater return than inflation. The property could be rented for extra income. I need $250/month every month…
user4884
2
votes
2 answers

Feasible FIRE setup?

Wondering about FIRE, in case you do not have family, rent or any other bigger expenses how much should you have to start FIRE (multiply of month or year costs) ? Also rest of capital could be consumed at the end. Suppose average long term 10% p.a.…
Jan
  • 165
  • 7
2
votes
1 answer

How to strike balance between home loan, savings, investment, tax savings, marriage, retirement plan, startup & living life?

Small intro: I am 30 years old, living with my parents in Mumbai, India. I am the only child. During the past 8 years of working, I have managed to change my family's financial condition to a great extend i.e. from greatly in debt to debt free &…
Varun Krish
  • 121
  • 1
2
votes
3 answers

France, started investing, don't know how to proceed long term?

I live in France, I am 24, and recently started being able to invest. To do so I decided to open a "Livret Bleu" with my bank. The Livret Bleu is virtually the same as a Livret A, same interest rate (0,75%) and is tax-free. The main difference is…
user3399
  • 121
  • 2
1
vote
1 answer

Should I find a regular job or continue doing what am doing?

I'm 21 years old I joined college for some years and dropped out due to family problems. Unfortunately, I wasn't able to continue due to pressure from college and family although I worked really hard to obtain good marks and be in a good shape. It's…
direprobs
  • 131
  • 3
1
vote
2 answers

Should retirement fund be equal to amount of money needed for financial independence?

Retirement funds aren't very common in Pakistan but I got interested in them reading question and answers on this forum. I want to know ideally how much should a person save for retirement funds? I am getting a feeling retirement funds is equal to…
user4884
0
votes
1 answer

Studies for personal finances

Over the last couple of days, I started thinking about financial independence for myself. That idea sounds great to me as I'm 33 years old, have a good and stable income, and I could do something to save my money. It's just time for me to think…
tym32167
  • 111
  • 5
-4
votes
9 answers

Can I become financially free without budgeting?

I just learned about what a budget is and how to make one, however, I simply do not see myself doing one or even like doing it.. I feel it is simply not exciting.
Abdy Sajous
  • 61
  • 6