Personal Finance

I can't sleep, so I'm running some numbers in my head. I have a mutual fund that I plan to invest in, and wanted to make some financial goals and projections for the next 10, 20, and 30 years. I turn 30 this year and I'm likely to start a new job that will last for at least 1 year, so long term planning is probably a good idea at this new phase in my life.

My primary goal is to retire as soon as possible by living off of the earned interest. This is how I plan to invest. I have 3 different investment plans, based on various estimates on what my discretionary income will be. The plan is that I will reinvest all interest until I retire. I marked the retirement age, along with the estimate for what the interest income will be. The conservative assumption is the baseline, where my current salary is at roughly $40k per year with $200/mo as discretionary income available to invest. I want to keep my expenses at approximately this level until I retire. The aggressive goal is what I plan to strive for assuming the next 10 years go well, and the middle is a realistic goal I believe I can achieve.

Conservative: $200/mo only 

• 10 yr income: 7,250
• 20 yr income: 21,750
• Retire at 56: 43,450
• 30 yr income: 58,000

Estimated: $1500/mo for 1 yr, $500/mo after

• 10 yr income: 14,700
• 20 yr income: 45,800
• Retire at 48: 41,250
• 30 yr income: 107,300

Aggressive: $1500/mo for 3 yr, $3000/mo after

• 10 yr income: 43,300
• Retire at 40: 50,950
• 20 yr income: 123,000
• 30 yr income: 311,300

Hi, do you feel safe having brokerage app on your phones? I had one installed since my brokerage is mobile 1st and UI is the cleanest but after I put some money in it (not much but significant or me) I don’t really like that someone could steal my phone from my hand while unlocked and potentially access it.. I’m planning to use my tablet for this purpose or computer to log in only at home but market is open during working hours when I’m not home so it would limit my possibility for trades.

Of course I’m not talking about checking account but the long term fund for retirement

cross-posted from: https://lemmygrad.ml/post/8784661

Trying to send something to my Mom which encapsulates this and debunks it.

Hi, there. I want to start saving money for my younger sibling so they can go to college easier.

I have financial aid and managed to get a scholarship to pay for a good amount.

I don't spend a lot of money. So I can put some aside every month for the next 5 years. Wouldn't the rates be pretty good to put money into?

Any reasons why I shouldn't be trying this? Should I save for myself or something? The potential earnings seem like a better idea.

https://www.fidelity.com/529-plans/overview

Hey, maybe y'all can give some unbiased advice. My wife co-owns a €1.4 million villa in Spain with her grandma. The property has been on the market for 2 years. I'm inclined to believe that the realtors are incompetent and that something is being done wrong. Am I crazy, or is something wrong here?

There's an older lady who's a family friend who currently manages the property and deals with the realtors on my wife's behalf. She's lovely, but not an expert in this, by any means. We are told by her that an appraisal late last year upheld the €1.4 million valuation, but to be fair, neither of us have seen that appraisal.

The property is currently listed by several realtors in the area – namely, Villa Iberia, Inmo Palafrugell, La Clau Brava, Espigul, and Cala Maset. My understanding is whoever manages to sell the house, gets the commission.

The house is in the Platja d'Aro region and is ~350 m2 in size, with 4 bedrooms and a large outdoor pool, a short drive away from the beach.

Is the price way off, or is something else wrong? Surely 2 years is too long for selling this! Thanks in advance to anyone who takes the time to give some advice.

I'm trying to get advice from a professional for my personal tax/investment situation since I probably complicated things. I don't know where to start. I've always just googled things and kinda went with it but things got really complicated and I didn't know who to go to for help. How do you guys get finance advice? Do you go to a bank branch or someone else? Is there a good way to get personalized advice without being charged out the wazoo for it?

In the U.S., the monthly payments increase the longer one works—researchers have now examined whether delaying retirement is financially worthwhile.

• Earlier retirement: Researchers have analyzed data from the United States to examine whether retiring earlier is worthwhile.
• Findings: The study shows that the financial risk of delaying retirement particularly affects men and low-income groups in the U.S.
• Making the most of it: For sick individuals in the U.S., retiring early can help them receive some of the benefits they paid for—even if they do not have long to live.

Currently I'm just buying IWDA as my long term investments. I came across some informative yt video about factor investing and how it's the next sound and logical step after all-market ETFs. Does anyone have any advice on ETF setup that includes small caps and value stocks?

Just went through a mess trying to finance a used car. I haven’t borrowed money since 2012, no debt, no credit cards, just living within my means. When I applied for a loan, I was told I was refused. Not because of bad credit, but because I hadn’t used credit recently enough.

The dealership advertises “no applications refused,” but apparently if you don’t have an active debt history, you’re too much of a mystery for the system.

Co-signer? Not allowed. Using my own bank account for payments? Denied. Their solution? Open a joint account with my dad just to satisfy a bank’s paperwork, pay hundreds in fees over 6 years just to make it work.

The credit system says you can't borrow money unless you've already been borrowing money, like somehow living within your means disqualifies you. It's not about good credit, it's about loyalty to the debt game. Screw you for standing on your own feet, I guess.

Just needed to get that off my chest. Anyone else run into this nonsense?

cross-posted from: https://linux.community/post/2819981

SRI ETF = social responsible index exchange trade fund

I'm a total newbie looking for one world ETF for a 30 year investment to keep it simple and to reduce risk.

ETFs I'm considering are

MSCI World SRI Index (USD) https://www.msci.com/documents/10199/641712d5-6435-4b2d-9abb-84a53f6c00e4

MSCI World Climate Change ESG Select Index (EUR) https://www.msci.com/documents/10199/84e37acb-a91e-8ff3-a909-6f8c7c6306dd

most people I asked know about the SRI but not about the climate change one. climate change's annual performance is way higher than SRI's. Very unsure about how to proceed.

Just to be sure, annual performance is way more important than the cumulative index performance - net returns, right? Because here climate change is better than SRI.

If I'm US based, is it better to invest in a USD denominated ETF or does it simply don't matter if I invest in a EUR denominated one (like climate change)?

How does trump play into all of this?

Some even give it away for free.

Keywords for search discoverability: toner ink cartridge brother canon hp epson xerox kyocera lexmark drucker imprimante impresora save money saving personal finance thrift

Obviously for most vendors, it would be ideal to boycott them entirely, but since many people have a few things they won't live without, it's good to know how to spend less.

Hello!

I am considering performing either contract or part-time employment with an employer in a different state (KY). I currently work full-time, remotely, in FL.

I believe because my residence is in FL that contracting will be my only option (due to employer rules on hiring out of state).

To contract, I believe I’d have to be a sole proprietor (I think) and submit a bid, etc.

I don’t need to do this financially - and am going to move to KY in the next year (making part time employment possible instead of contracting). In other words, I could just.. wait or not do this at all. My main goal here is just to make some extra money - but if taxes or something was going to make me miserable then I can just not do this.

Questions:

• What effect would contracting in a different state have on my taxes?
• Should I just wait til I move to KY and try to go the part-time employment option instead of dealing with the sole proprietorship?
• Any other advice / thoughts you have?

Hello,

Sorry in advance if this is the wrong community to ask in, new here (and if so please direct me to the correct one)

I am looking to register a company in the EU to carry out business activities there. I am not currently a tax resident or citizen of an EU country, although I hold Greek permanent residency. I am a freelance in the creative industries and will be the sole shareholder and paying myself through dividends not a salary and paying taxes in my current country.

Greece is as far as I understand a bureaucratic nightmare. I am looking at Estonia’s ‘e-residency’ program although there doesn’t really seem to he honest opinions of it online as well as Cyprus due to almost no taxes on IP which would benefit me.

Important factors are ease of dealing with bureaucracy, less registration and accounting fees and ability to open a Euro-denominated bank account. Less taxes are also obviously positive but that’s not a main concern.

US - For the first time in my life I'm not living paycheck to paycheck, but now that I've got a bit of savings it feels like the US dollar and economy is on the cusp of death.

I'm wondering if I should split my bank account into another one that isn't affiliated with the US, maybe even have a percentage of each paycheck go to that one automatically. The thought being to not have all my eggs in one basket.

No idea the best way to go about this, or if it's even remotely a good idea. What do y'all think? Any relatively stable economy to shoot for / ease of opening/accessing an account in a country I'm not physically in?

This is new territory for me - my financial planning historically hasn't gone much past comparing the price tags of 40 lb bags of rice, so... Idk, I have no idea what I'm doing. I have this dread that the income I have now is about to become worthless, and not sure how to protect myself from that.

cross-posted from: https://lemmygrad.ml/post/7687104

What's a way to get SSDI (I think that's the acronym)?

I thought I had it. I put in 10 disabilities which I had and I wasn't lying about any of them. I would honestly never commit fraud, despite my circumstances, and never intend to.

But they said that I "didn't work enough hours."

I'm not sure how to make it go to my credit (Social Security credits, that is).

How many jobs or hours should you work?

I can also give you all the full message through a DM, perhaps.

I've worked, I think, eight jobs in total in the last decade with one year that I wasn't working (during the pandemic). Frankly, I could use the money; I'm trying to get into nursing school, though am getting my CNA first. And I need a car now. I have a Bachelor's degree in Communications, but want to change my career path for the time being.

To be fair, I didn't put all my work experience and there's more that I could put.

Is there a way to keep track of all the credits you have? Or "input" them or however you're supposed to do factor them into the system?

Also, assuming you get disability assistance from Social Security Administration, what's a good way to phrase or say certain things in the application process?

Do help out if you can. Thanks!

I am a US citizen living in the US (glass it from orbit please) and as the title implies I am wondering if it is possible to move my checking and savings account(s) to a bank that would allow that money to be converted and held as euros. From my research so far it does appear there are some banks that may be able to facilitate this (HSBC, Citi, Wells Fargo), but I was wondering if anyone had any experience with doing so?

In addition to recommendations or general thoughts about the bank(s) I should consider looking at I was also curious if:

• Direct deposits in USD were possible and how they were handled in terms of converting them (does it happen automatically, or is it a manual action)?
• Is it possible to use ACH debiting?

For whatever it's worth in case someone asks or wants to interject, most of my money is currently in my retirement accounts and not in my savings, I have an emergency fund and I won't be doing anything that might harm it.

Regardless of whether what I am asking is dumb or ill advised I am currently looking for information on how one might implement this if it is possible at all. Feel free to offer your opinion/take on it if you are also able to point me to resources on doing this or additional reading on the matter. If this is just straight up not possible in any capacity (my initial looking seems to indicate it is possible, but I could be wrong) then feel free to let me know that as well. If the only feedback that can be provided is to tell me how dumb it is, or ask why I would want to do this my reasons are my own, and I would kindly ask it be kept to one's self, but I obviously can't stop anyone if they don't.

Regardless, I very much appreciate your reading this far, and thank anyone for their replies in advanced.

I'm curious how you budget as a couple or budget with family. Does one person take the lead and it's their duty? Are you equal participants? Does each person leverage their strengths?

What works for you?

Off course you can handle your expenses. But maybe you still want to know exactly how much you can spend TODAY.

Read on then.

Put aside what you think about this news, this is likely going to happen as the admin doesn't care about legal challenges, they just implement policies.

I own my home, fixed rate mortgage, and I own both of our cars with no remaining payments. From my understanding, should I cease payments on the loan (they are privately owned debts) I can be sued for the debt and then wages garnished. My credit score will also suffer from a default, but again I own everything I have or it's on a fixed rate.

What does this process look like, and what are the tangible consequences for me?

I am trying to make a super cool subscription tracker that can track all your subscription at one place like a google calendar but for subscriptions.

what are some cool features you would expect.

Where I am from my salery is quite okay to be honest. I get about 3700 € after taxes (state insurances, health care etc.) each month but I don't see me affording a car anytime soon.

I pay about 1200 € a month on my debt for my house, so I have about 2500 € left. Another 600 € go away for electricity, water, trash, internet, phone provider etc...

Leaves me with 1900 € left for the month. I'd say I spend about 900 € for food and household supply a month.

1000 € I save 500 € for my house for later. 250 € for vacation (3000 € in total a year) And 250 € for car.

It is going to take me about 5 years to save for a 15.000 € car. I don't know how people buy BMWs, etc. I know I don't earn that much but I need a car somehow my current car is breaking down and I got no money saved yet. Only about 1500 € cause I spent all my money on paving (had to be done) and my emergency saving wasn't enough for the bill of the paving and other work on that area around my house.

I only save since 3 years cause I wasnt able to before.

I am not even ranting about the joke of a car I might get with 15.000 €. In my country I can't even get the smallest Toyota with that. It's a friggin' joke that a Toyota Aigo or whatever it is called is going for 19.000 € (new) but whatever.

I don’t have much in terms of investments (401K). I was wondering if there is anything I can do to minimize the impact of the incoming recession on my financial position.

1- What do I do with my 401K? Do I keep it in the same funds or should I look into reinvesting it in different funds? 2- Should I keep an eye out for “the dip” and buy in? What? Market funds? Bond funds? ETF? 3- In terms of stocking up, what’s the best approach? Bottled water obviously, but what else? 4- I am almost done paying off my credit cards. However, I bought a new car last year. Other than looking into refinancing to a lower APR, is there anything else I can do?

Until last year, I never thought much about how to survive the many “once in a lifetime“ shitshows we are seeing and usually rolled with the punches because I mainly didn’t have the financial means to do so.

Now that I am somewhat financially capable –a privilege not many of my fellow countrymen have unfortunately– I want to try and minimize the damage that is incoming.

Any advice/suggestions would be greatly appreciated. Thank you in advance.