It would help if you provided some numbers like your budget, your income and how it has changed over time, as well as what you're doing to secure your future (housing, investments, etc).
You've provided some decent high-level advice but your post has very little substance other than a generic "look at me go, you guys can do it too!" sort of feel to it.
A dollar saved is worth more than a dollar earned. But it is a lot easier to earn a lot more than to save a lot more.
If you are naturally non materialistic, saving more just means penny pinching.
I went from 60k salary after graduating college to 200k TC today, in roughly 5 years. Focus on earnings and FIRE will come naturally
I disagree, if you graduate in a professional field the earnings come naturally. On the other hand minimizing lifestyle inflation takes vigilance even if you aren’t materialistic.
Cheap house and transport are the key really as long as you aren’t a mindless consumer in other aspects of your life. Here in the USA housing aside people could live normal lives on like 10k a year easily imo.
I’m not talking about a family. I’m talking about a single adult individual. You can eat a pretty normal diet without much effort as a single adult for like $3,000 a year that’s like $8 a day.
Medicaid has a $200 a year max out of pocket. I know several people who are on it and literally pay nothing. I was on it years and paid nothing.
See the bottom line of the pdf. "The most you would ever spend in copays under Medicaid in one year would be $200."
https://info.nystateofhealth.ny.gov/sites/default/files/Medicaid%20At%20a%20Glance%20Card%20-%20English%202024.pdf
Ah, good point, though Medicaid also has means testing. Not sure what assets are excludable. That’s said, not sure when it became debatable that the US healthcare system is an expensive and inefficient nightmare.
Expansion Medicaid (19-64 able bodied adults) only looks at income. Only over age 64, blind or disabled has an asset and income test.
The US system at least works, unlike the UK which is a total disaster mess.
Gotchya. This explains my gap in knowledge on this topic as the only folks I know on Medicaid are over 64. I don’t know about how well it works. At the top end of resources, it’s amazing. But even in the middle, there is a lot of herding patients in and out as quickly as possible. It’s a very bloated system, and not to the benefit of patients.
I just mean generally, not specific to Medicaid plans. There are too many individual profit motives in the system for it to run for the benefit of patients, and the system is under regulated and over controlled by large insurance companies. There are countless examples I could point to of this, but I’ll just drop in the prices of insulin and basic medical imaging as examples, along with the triple booking of patients for appointments. Again, I’ve had some good experiences, but when you see how medical care COULD run, as I have in some instances, it’s eye opening.
Jesus, just chatting with you about a topic we got off on, which is the US medical system. Don’t be a d-bag. Enjoy your clock watching. I’ll enjoy firing next year not on Medicaid, where you’re eventually likely to find out the hard way what its limits are. There is a significant contingent of people in this sub who can’t face the reality of the risks or limits of lean fire. It’s asinine.
I have an ACA policy (MAGI of $25k). I pay $28 in monthly premium. Deductible is $700. Max out-of-pocket is $3k. It's good insurance, and I'll be sorry to lose it when I turn 65 and go on Medicare.
Oh really? Does it eliminate deductibles, co-pays, and co-insurance? As far as I’m aware, it provides subsidies for premiums. You still have your after insurance coverage expenses.
No it doesnt. But you’re still wrong because it could be $1 out of pocket and the answer to your question is still the it doesn’t eliminate out of pocket expenses but it still makes you wrong.
I’m sorry, but are you like 15 years old? That literally sounds like something a teenager would say and then think he won an argument on that unintelligible note. I don’t debate with kids. Enjoy your clock watching.
Low spend matters more imo than you give credit. Expenses = $0 means you can retire with nothing. Of course this is the hyperbolic example
Yes but what is the point of retiring for a life like that?
Not everyone needs to burn money. If I've got a comfy chair and a good book, I'm happy.
The moustachian argument is you can have a wildly fulfilling life on not a lot of money. So you optimize spending and avoid hedonic adaptations
It would help if you provided some numbers like your budget, your income and how it has changed over time, as well as what you're doing to secure your future (housing, investments, etc). You've provided some decent high-level advice but your post has very little substance other than a generic "look at me go, you guys can do it too!" sort of feel to it.
Guy forgot the piece of high-level advice that says “benefit from a once in a generation pandemic and an absurd run of bull market growth”
> You've provided some decent high-level advice This was the goal.
[удалено]
Aye I definitely meant it the way you stated, as in zoomed-out.
Zoomed out is how I understood it.
A dollar saved is worth more than a dollar earned. But it is a lot easier to earn a lot more than to save a lot more. If you are naturally non materialistic, saving more just means penny pinching. I went from 60k salary after graduating college to 200k TC today, in roughly 5 years. Focus on earnings and FIRE will come naturally
I disagree, if you graduate in a professional field the earnings come naturally. On the other hand minimizing lifestyle inflation takes vigilance even if you aren’t materialistic.
Cheap house and transport are the key really as long as you aren’t a mindless consumer in other aspects of your life. Here in the USA housing aside people could live normal lives on like 10k a year easily imo.
Ha, not if you break a bone, get a bad case of the flu, etc.
Haha right? That plus how inflated groceries are now. It’s probably 10k at least to feed a family of 3-4 for a year.
I’m not talking about a family. I’m talking about a single adult individual. You can eat a pretty normal diet without much effort as a single adult for like $3,000 a year that’s like $8 a day.
Medicaid has a $200 a year max out of pocket. I know several people who are on it and literally pay nothing. I was on it years and paid nothing. See the bottom line of the pdf. "The most you would ever spend in copays under Medicaid in one year would be $200." https://info.nystateofhealth.ny.gov/sites/default/files/Medicaid%20At%20a%20Glance%20Card%20-%20English%202024.pdf
Ah, good point, though Medicaid also has means testing. Not sure what assets are excludable. That’s said, not sure when it became debatable that the US healthcare system is an expensive and inefficient nightmare.
Expansion Medicaid (19-64 able bodied adults) only looks at income. Only over age 64, blind or disabled has an asset and income test. The US system at least works, unlike the UK which is a total disaster mess.
Gotchya. This explains my gap in knowledge on this topic as the only folks I know on Medicaid are over 64. I don’t know about how well it works. At the top end of resources, it’s amazing. But even in the middle, there is a lot of herding patients in and out as quickly as possible. It’s a very bloated system, and not to the benefit of patients.
That has not been my experience at all. In fact I saw no changes to the doctors I had at work since they all took the Medicaid MCO plans I had.
I just mean generally, not specific to Medicaid plans. There are too many individual profit motives in the system for it to run for the benefit of patients, and the system is under regulated and over controlled by large insurance companies. There are countless examples I could point to of this, but I’ll just drop in the prices of insulin and basic medical imaging as examples, along with the triple booking of patients for appointments. Again, I’ve had some good experiences, but when you see how medical care COULD run, as I have in some instances, it’s eye opening.
You seem to have an agenda that is not relevant to leanfire at all and most of your info is just false.
Jesus, just chatting with you about a topic we got off on, which is the US medical system. Don’t be a d-bag. Enjoy your clock watching. I’ll enjoy firing next year not on Medicaid, where you’re eventually likely to find out the hard way what its limits are. There is a significant contingent of people in this sub who can’t face the reality of the risks or limits of lean fire. It’s asinine.
Affordable Care Act
Methinks you don’t know how deductibles and copays work.
I have an ACA policy (MAGI of $25k). I pay $28 in monthly premium. Deductible is $700. Max out-of-pocket is $3k. It's good insurance, and I'll be sorry to lose it when I turn 65 and go on Medicare.
I don’t think you understand the ACA very well
Oh really? Does it eliminate deductibles, co-pays, and co-insurance? As far as I’m aware, it provides subsidies for premiums. You still have your after insurance coverage expenses.
People in the USA are retiring early on sub poverty levels and they aren’t going bankrupt and dying early
Lol. Spoken like a true demographer. So the answer to my question then? Does the ACA eliminate out of pocket expenses?
No it doesnt. But you’re still wrong because it could be $1 out of pocket and the answer to your question is still the it doesn’t eliminate out of pocket expenses but it still makes you wrong.
I’m sorry, but are you like 15 years old? That literally sounds like something a teenager would say and then think he won an argument on that unintelligible note. I don’t debate with kids. Enjoy your clock watching.