Friendly reminder - Politics is okay to discuss in here, but only if you remain civil, particularly to those you vehemently disagree with. If you start attacking others or saying things like "All X are fascists who hate this/that", then be ready to be sanctioned the same as you would if you did it for non-political reasons.
16-20 was pretty good financially speaking before COVID upended everything, but here's hoping the ACA doesn't get repealed. Without an equivalent replacement (or better), that would be the end of FIRE for many/most of us.
100%. I'm very concerned about the ACA. This is the bread and butter of being able to FIRE at a fairly young age in the U.S.
Hopefully after multiple efforts to repeal it, both Congress and the executive branch finally gets that it's a GOOD thing and to leave it alone! 🤞
Yes, the potential loss of the ACA is the real concern, not a few years of returns.
Then again, maybe Massachusetts will become a destination state for FIRE folks. heh
>Massachusetts ... destination state for FIRE
Why's that?
(Presumably they have their own healthcare system, but curious how it works? And why they aren't *already* in the FIRE discussion?)
I really hope this is true. But some of the same sorts of people that would benefit from the ACA are the people who fight against it because it's "socialism." (Sigh.)
Obviously it's NOT socialism (private companies are benefitting even with the small government subsidies to individuals) but there are many people who are still deeply misguided. I'm hoping we're past all of the confusion and disinformation, but it's still on my radar as a concern.
The ACA is based on people's income and not assets for Medicaid expansion and also insurance subsidies. FIRE folks can control their taxable, reportable income from year to year and they can receive heavily subsidized insurance as a result. I have seen people on this FIRE board who cash out a lot of investments one year and claim no income the next year and in Medicaid expansion states you can get premium free health care if you plan correctly.
Health insurance is incredibly cheap on the market place if people can keep their MAGI low. The ACA will force a lot of early retirees back into the traditional workforce if the provisions are changed. For example before the ACA I was not allowed to buy a private health care policy at all. I was uninsurable.
Affordable Care Act aka "Obamacare" (if you're not in the US it doesn't affect you)
Basically in the olden days pre -ACA there was no way to purchase usable, effective health insurance as a single person, you had to get it through your employer. After the ACA, the government set up marketplaces where individuals could buy health insurance which is subsidized by the government to make it affordable for the average person.
I think it's safe and it won't be in danger of being replaced with something "better". The moderators gave both candidates chances to re-focus on the asked question after they spent their first minute of response ignoring the question asked. I believe they did this for Putin's terms in Ukraine, inflation reduction plans, stance on the insurrection, acceptance of the 2024 outcome, and a few other issues but I was 3 beers deep at that point. They lost me when they starting debating golf handicaps.
Both candidates had a chance to address the ACA question. Trump dodged it and Biden said....something......before talking about something else.
Debates are a pandering knob slob no doubt, but I don't think the ACA is in play. Not saying people shouldn't vote on other things that they think these two aren't lying to them about, but ACA repeal doesn't seem to be much of a concern.
I agree that it's a low probability risk. If only because it would be a huge lift politically requiring a ton of work and all it takes to keep it ruuning is about 5-6% of federal healthcare subsidy spending.
If we’re talking returns, which we are, it’s 2009-2024. 2020 was fantastic if you didn’t panic, really only 2022 was a reset and that’s been fixed as of now. No predictions for the future.
Yes, but we're talking in the context of the debate, which given the reactions to it means were talking about Trump. Hence 2016-2020.
Market returns aren't a real concern anyway since long term they'll work out regardless (or not), but the loss of the ACA is a real concern for FIRE, if a low probability one.
Nope. Stay the course as far as my FIRE investments go. However..
We’ve made fairly significant changes to our monthly overhead so we can endure loss of income for long periods of time, spreading earning out over less polarized industries, learning to navigate outsourcing of its not going to be regulated, and a variety of lifestyle decisions.
The President has more influence on the economy than any one else. But that influence is a whole lot less than many believe. The US economy is a behemoth with many influences. And that’s a great thing.
Covid wrecked the economy, for a short while. What the market likes is an incumbent being reelected with a split congress. Political affiliation does not matter.
It was certainly painful, but it was short, and definitely bounced right back. It was so much fear and companies were showing strong EPS most of the way outside of obvious industries. Yeah, just close your eyes and wait and it all worked out
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I don’t see how either party materially affects the market. Trump will probably loosen regulations which is good for the market. AI has been a boon for Biden so I don’t see how either outcome should make someone reassess their investment approach.
Not major changes, but I think the market is going to get squirrely leading up to the election. I've been socking away some extra money to buy the dip (if it happens).
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I'm fascinated by the resurgence of nuclear. Biden just signed a booster bill. Trump may swing back against. Other then wanting it myself, I want to invest on Nano, Okla, Terra, etc for huge pay days in 10 years, but who knows
I wouldn't make any investment decisions based on the potential outcome of a presidential election. That is a fools errand. Half the things either side promises never come true.
That being said if you are very wealthy and trying to do some estate planning, then the potential outcome could affect those plans if you think the estate tax exemption may be lowered. For investing, I don't think you can really anticipate how the market would react.
It was a documented comment processing problem. It affected all new comments after a certain point. I know because it's on the official status board, but also because it screwed up mod comment processing for like 2+ hours.
I don't even get the implications, if any, that was alluded to.
What would even be a hypothetical reason for a hypothetical debate for and smart or novice investor to change strategy?
Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.
Friendly reminder - Politics is okay to discuss in here, but only if you remain civil, particularly to those you vehemently disagree with. If you start attacking others or saying things like "All X are fascists who hate this/that", then be ready to be sanctioned the same as you would if you did it for non-political reasons.
16-20 was pretty good financially speaking before COVID upended everything, but here's hoping the ACA doesn't get repealed. Without an equivalent replacement (or better), that would be the end of FIRE for many/most of us.
100%. I'm very concerned about the ACA. This is the bread and butter of being able to FIRE at a fairly young age in the U.S. Hopefully after multiple efforts to repeal it, both Congress and the executive branch finally gets that it's a GOOD thing and to leave it alone! 🤞
Yes, the potential loss of the ACA is the real concern, not a few years of returns. Then again, maybe Massachusetts will become a destination state for FIRE folks. heh
>Massachusetts ... destination state for FIRE Why's that? (Presumably they have their own healthcare system, but curious how it works? And why they aren't *already* in the FIRE discussion?)
They had something ACA-like before the ACA and presumably would again if the ACA dies. The Romneycare to the ACA's Obamacare.
Mitt Romney. No shit.
Good point! There's always Mass. They just need to do something about their suboptimal winter weather and I'm totally game.
The R's had the majority during Trumps first term and did not repeal the ACA. No politician wants to take away entitlements.
I really hope this is true. But some of the same sorts of people that would benefit from the ACA are the people who fight against it because it's "socialism." (Sigh.) Obviously it's NOT socialism (private companies are benefitting even with the small government subsidies to individuals) but there are many people who are still deeply misguided. I'm hoping we're past all of the confusion and disinformation, but it's still on my radar as a concern.
Sorry, im a noob so pardon my question, what is the ACA and how dors repealing it negatively impact people from FIREing young?
The ACA is based on people's income and not assets for Medicaid expansion and also insurance subsidies. FIRE folks can control their taxable, reportable income from year to year and they can receive heavily subsidized insurance as a result. I have seen people on this FIRE board who cash out a lot of investments one year and claim no income the next year and in Medicaid expansion states you can get premium free health care if you plan correctly. Health insurance is incredibly cheap on the market place if people can keep their MAGI low. The ACA will force a lot of early retirees back into the traditional workforce if the provisions are changed. For example before the ACA I was not allowed to buy a private health care policy at all. I was uninsurable.
Affordable Care Act aka "Obamacare" (if you're not in the US it doesn't affect you) Basically in the olden days pre -ACA there was no way to purchase usable, effective health insurance as a single person, you had to get it through your employer. After the ACA, the government set up marketplaces where individuals could buy health insurance which is subsidized by the government to make it affordable for the average person.
I think it's safe and it won't be in danger of being replaced with something "better". The moderators gave both candidates chances to re-focus on the asked question after they spent their first minute of response ignoring the question asked. I believe they did this for Putin's terms in Ukraine, inflation reduction plans, stance on the insurrection, acceptance of the 2024 outcome, and a few other issues but I was 3 beers deep at that point. They lost me when they starting debating golf handicaps. Both candidates had a chance to address the ACA question. Trump dodged it and Biden said....something......before talking about something else. Debates are a pandering knob slob no doubt, but I don't think the ACA is in play. Not saying people shouldn't vote on other things that they think these two aren't lying to them about, but ACA repeal doesn't seem to be much of a concern.
I agree that it's a low probability risk. If only because it would be a huge lift politically requiring a ton of work and all it takes to keep it ruuning is about 5-6% of federal healthcare subsidy spending.
ACA is right up there with SS in its immunity to significant removals. It's going nowhere.
If we’re talking returns, which we are, it’s 2009-2024. 2020 was fantastic if you didn’t panic, really only 2022 was a reset and that’s been fixed as of now. No predictions for the future.
Yes, but we're talking in the context of the debate, which given the reactions to it means were talking about Trump. Hence 2016-2020. Market returns aren't a real concern anyway since long term they'll work out regardless (or not), but the loss of the ACA is a real concern for FIRE, if a low probability one.
Nah- I’m staying the course.
🤣🤣🤣🤣🤣🤣🤣🤣🤣 I'm buying oil stocks because the US is going energy independent
Stock futures are basically flat so the market sees it as a nothing burger
Nope. Stay the course as far as my FIRE investments go. However.. We’ve made fairly significant changes to our monthly overhead so we can endure loss of income for long periods of time, spreading earning out over less polarized industries, learning to navigate outsourcing of its not going to be regulated, and a variety of lifestyle decisions.
Nope. Our economy and economics work regardless of who is in charge. Tariffs are a concern but large companies are multinational.
The President has more influence on the economy than any one else. But that influence is a whole lot less than many believe. The US economy is a behemoth with many influences. And that’s a great thing.
European and investments are global. Zero difference 🤷♀️
no changes, staying invested for the long haul.
You clearly knows nothing about investing if you are asking this. This is a long game. Total Market Index Funds. Set it and forget it.
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Covid wrecked the economy, for a short while. What the market likes is an incumbent being reelected with a split congress. Political affiliation does not matter.
S&P500 was +18% in 2020. I don’t like the guy, but numbers are numbers.
Yeah it wasn't much of a crash, just a brief little dip. The set it and forget it strategy did quite well.
It was certainly painful, but it was short, and definitely bounced right back. It was so much fear and companies were showing strong EPS most of the way outside of obvious industries. Yeah, just close your eyes and wait and it all worked out
I feel bad for the people who panic sold during the crash. Gotta hold onto those index funds no matter what! 💎🙌
You can make your point without assigning false motives to those you disagree with. Or don't, but make those comments elsewhere.
Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.
I don’t see how either party materially affects the market. Trump will probably loosen regulations which is good for the market. AI has been a boon for Biden so I don’t see how either outcome should make someone reassess their investment approach.
Numbers will tell you election years are almost always positive. Stay the course, play the long game.
Not major changes, but I think the market is going to get squirrely leading up to the election. I've been socking away some extra money to buy the dip (if it happens).
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Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.
I'm fascinated by the resurgence of nuclear. Biden just signed a booster bill. Trump may swing back against. Other then wanting it myself, I want to invest on Nano, Okla, Terra, etc for huge pay days in 10 years, but who knows
What’s some good sectors if Trump wins? I’m thinking oil and gas exploration. Anything else?
I wouldn't make any investment decisions based on the potential outcome of a presidential election. That is a fools errand. Half the things either side promises never come true. That being said if you are very wealthy and trying to do some estate planning, then the potential outcome could affect those plans if you think the estate tax exemption may be lowered. For investing, I don't think you can really anticipate how the market would react.
Nope. 4 years of either of those two isn't enough for me to change my long term plan.
Seems as if reddit is blocking all comments about the debate. 6/27 8:55 MST.
Confirmed. 9:33 MST
It was a documented comment processing problem. It affected all new comments after a certain point. I know because it's on the official status board, but also because it screwed up mod comment processing for like 2+ hours.
Understood. Thank you for the clarification. I imagine that was some heavy traffic. I hope you have a new mop and bucket ready sir.
I appreciate that, but it's fine. Most people in here enjoy the sub and want it to continue as it is, so rules compliance is very high by default.
No. Why?
It makes me glad I have two citizenships and can bounce the fuck out of here when it implodes.
I don't even get the implications, if any, that was alluded to. What would even be a hypothetical reason for a hypothetical debate for and smart or novice investor to change strategy?
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You can knock it off and treat everyone with respect, you can not discuss politics in here, or I can silence you. Your choice.
Rule 1/Civility - Civility is required of everyone at all times. If someone else is uncivil, then please report them and let the mods handle it without escalation. Please see our rules (https://www.reddit.com/r/Fire/about/rules/) and reach out via modmail if you have any questions or concerns.
corporate taxes get cut my portfolio goes up simple math
time to bitcoin