@G59
@lemmy.mlI'm using the good ol' Excel spreadsheet to track expenses, income, NW, etc. Are there any other tools or apps that you guys found useful?
Also shoutout to my fellow spreadsheet power users 😎
FYI!!! In case you start getting re-directed to porn sites.
Maybe the admin got hacked?
edit: lemmy.blahaj.zone has also been hacked.
This is a growing list of commonly used terms in our community. Please suggest more terms not listed here!
Boglehead = A follower of John C. Bogle's financial philosophies and investing strategies.
COL = Cost of Living
LCOL/MCOL/HCOL/VHCOL = Low/Med/High/VeryHigh Cost of Living
DCA = Dollar Cost Averaging; the strategy of investing money into the market over many regular intervals of time (as opposed to lump sum investing).
DINK = Double Income No Kids
FI = Financial Independence; the ability to live off savings and pay living expenses without needing to be employed.
FIRE = Financial Independence & Retire Early
Coast FIRE = having enough money already invested so that it is not necessary to invest more to achieve FI at the desired retirement age.
Barista FIRE = having enough money to retire at the desired retirement age and also getting a part-time job for additional income and health insurance.
Lean FIRE = achieving FIRE without having much safety nets for luxuries/children/major health costs during retirement, usually only spending on necessities such as housing, food, and transportation.
Fat FIRE = achieving FIRE with the ability to cover unexpected expenses during retirement while living in equal or greater lifestyle as before retirement.
HENRY = High Earner, Not Rich Yet
HYSA = High Yield Savings Account
NW = Net Worth
PITI = Principal + Interest + Taxes + Insurance
PMI = Private Mortgage Insurance
SWR = Safe Withdrawal Rate
Hi all, I wanted to create this community for those interested in the FIRE movement to share their experiences.
A few years ago, I started tracking my net worth and increasing my savings to hopefully even have a chance to retire, and now want to push further to achieving financial independence and MAYBE HOPEFULLY retire a few years earlier as well.
Anyone else in a similar situation? How has the journey been for you so far?