Accounting For Big Expenses And Depreciation In Your FIRE Budget
Knowing how much you need to live on is key to achieving financial independence (FI). But a common mistake is not accounting for the depreciation of big-ticket items, and for irregular but direct hits to your bank balance. Q1 2021 hedge fund letters, conferences and more We’re talking about expenses that don’t happen very often, but bust the budget when they do. For example, replacing the roof is a peril that hangs over my head like an Independence Day UFO, or a menacing killer asteroid patrolling the edge of the solar system. You know something’s lurking out there. It just hasn’t arrived to b...