Hello, all.

[nickroberts90]

Hello, everyone. I am 28 years old and live in Omaha, NE. Recently (in the last few years), I have been getting more heavily involved in my finances. I have opened several different investment accounts, both through work and individually.

My plan for the moment is to achieve "financial freedom" by the end of 2030. At my current pace, I am not sure this is possible considering that some of my intended future expenses (owning a house and having a few children) have not yet been figured out. I have a pretty good idea of where I am headed as far as the unknown expenses but things always change.

I found out about this site through doing my research into the "FIRE" movement. I thought this would be a great way for me to ask questions and also share my experiences with others.

Anyway, I hope to be an active participant in this forum and I hope to learn a lot.

 

[joeea]

My plan for the moment is to achieve "financial freedom" by the end of 2030.

Why?
Why 2030? What's magic about that date?

At my current pace, I am not sure this is possible considering that some of my intended future expenses (owning a house and having a few children) have not yet been figured out. I have a pretty good idea of where I am headed as far as the unknown expenses but things always change.

The younger you are, then more unknowns you have.

 

[nickroberts90]

Why?
Why 2030? What's magic about that date?

There is nothing magic about the end of 2030. It is just my current goal. My mind and my planning work better if I have a specific goal in mind and something to work towards.

The younger you are, then more unknowns you have.

I agree with your statement however when I created my future budget plan, I was very conservative with it. I know that I will not truly understand my future expenses until they are my current expenses but I believe the budget I set up will cover future expenses.

Whenever I do retire, I plan on making enough monthly income that my income will be greater than my expenses. Currently, my plan is to have a mix of monthly and quarterly dividend payments that will cover all my expenses each month plus have extra money to reinvest.

 

[kimcdougc]

Welcome to the forum. There is a lot to learn here. Look forward hearing about your adventures getting to FIRE.

 

[MBAustin]

If you've read much about FIRE, here or elsewhere, you know that managing your spending is more important than managing your investments (unless you are making megabucks). The good news for you is that if you have a goal, you will be more motivated than your peers to keep the spending side of the equation under control.

 

[Katiek]

Life throws a lot of surprises at you along the way, so it's hard to make plans that far in the future. But whatever comes, saving a good portion of your income, being alert to spending habits and understanding the basics of investment will always serve you well and help position you to have choices in the future.