Search found 815 matches

by SpecialK22
Mon Jun 26, 2017 4:32 am
Forum: Investing - Help with Personal Investments
Topic: Another Roth vs. Traditional debate, but for high-income Feds
Replies: 15
Views: 1426

Re: Another Roth vs. Traditional debate, but for high-income Feds

I prioritize Roth accounts for the forecasted reasons that your presenters currently live. I'm in the 28% tax bracket and the combination of FERS Special, a Reserve component pension, and SS Supplement will by themselves put me firmly in the 28% bracket immediately on retirement in my mid-50s. Down ...
by SpecialK22
Thu May 18, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Learning how to spend
Replies: 27
Views: 2604

Re: Learning how to spend

Thank you all for the responses and great suggestions. Finding the balance seems to be getting harder as I am definitely beginning to feel the wealth effect kicking in (I know there are many on this board doing much better than me though :wink: ). Maybe I just need a recession to bring me back to re...
by SpecialK22
Thu May 18, 2017 2:02 am
Forum: Personal Finance (Not Investing)
Topic: Learning how to spend
Replies: 27
Views: 2604

Learning how to spend

Warning: Emotional Post Since a major part of my identity is that of a saver, I've been wrestling with the fact that I may be oversaving. Wealth effect may also be playing a role as my aggressive saving started in 2008. As such I never really felt the pain of the bear market. It just seemed like my ...
by SpecialK22
Wed Apr 26, 2017 6:38 am
Forum: Investing - Help with Personal Investments
Topic: Fed and newbie boglehead seeking portfolio advice
Replies: 17
Views: 1606

Re: Fed and newbie boglehead seeking portfolio advice

OP, How are you planning to retire as a fed (FERS) @ 50? Are you under a special provision (e.g.; law enforcement, firefighter, etc)? ... You're correct, I'm under a special provision that allows full retirement at 50 with at least 20 years of service How are you able to stay until 60? I thought al...
by SpecialK22
Fri Apr 21, 2017 12:11 am
Forum: Personal Finance (Not Investing)
Topic: College Tuition Waivers and the National Guard
Replies: 2
Views: 474

Re: College Tuition Waivers and the National Guard

Did four years active Air Force then switched to the ANG. Education and healthcare are two things that the military does a good job of providing. As those two areas have been some of the fastest increasing costs for most of the population, I think military service has increasingly become a good fina...
by SpecialK22
Tue Mar 07, 2017 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: roth vs traditional 401k
Replies: 16
Views: 1177

Re: roth vs traditional 401k

I'm in similar situation and have chosen Roth for two main reasons: 1.) I max out the full $23,500 (Roth 401k + Roth IRA) a year. A Roth allows me to tax shelter a larger amount. 2.) Right now paying the taxes does not present any financial hardship for me. It's a behavioral hedge against a possible...
by SpecialK22
Tue Feb 21, 2017 8:36 am
Forum: Personal Finance (Not Investing)
Topic: What are the big things to get right?
Replies: 91
Views: 12853

Re: What are the big things to get right?

This is from the perspective of a millennial. But there's some of us here. The big things to get right: 1. House 2. Student loans 3. Cars Everything else is inconsequential. And saving a latte a day won't make up for the +$1000/month in car payments. The McMansion mortgage. Or the mega student loan...
by SpecialK22
Sat Feb 18, 2017 3:08 am
Forum: Personal Finance (Not Investing)
Topic: "With $15 Left in the Bank, a Baby Boomer Makes Peace With Less" -- A cautionary tale
Replies: 37
Views: 5101

Re: "With $15 Left in the Bank, a Baby Boomer Makes Peace With Less" -- A cautionary tale

Interesting. I'm either a late Gen X or early Millennial depending on how it's defined, but I wonder how my generation will end up in middle age. Overpaying for college seems to be a major problem for many in my generation, but I admit that might just be anecdotal. It also reflects my own biases. Li...
by SpecialK22
Sun Jan 15, 2017 1:45 pm
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 8254

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

SpecialK22, A) Please note that by going 100% to Roth, you cannot afford to be wrong. You cannot get the money back from IRS. The decision could be disastrous. Why would you place your bet on (A)? If you are right, you save some tax. If you are wrong, it is disastrous. Can you please elaborate on i...
by SpecialK22
Sun Jan 15, 2017 10:02 am
Forum: Investing - Theory, News & General
Topic: Shouldn't everyone do a traditional IRA/401k instead of a Roth?
Replies: 132
Views: 8254

Re: Shouldn't everyone do a traditional IRA/401k instead of a Roth?

Those who have a pension and are early in their careers might reasonably be expected to have more income in retirement than they do now. While I'm not early in my career, I'm still a couple of decades away from retiring in my 50s. I'm still expecting some decent career progression between now and re...
by SpecialK22
Thu Jan 12, 2017 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Best Financial Moves You've Made
Replies: 141
Views: 17993

Re: Best Financial Moves You've Made

Avoided overpaying, particularly taking on large debt, for three things:

Education
Cars
Homes

There is generally strong societal pressure to spend lavishly in these three categories. They are also some of the easiest products to get financed.
by SpecialK22
Wed Oct 12, 2016 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: [Any Advice for trying to get a government job?]
Replies: 5
Views: 609

Re: [Any Advice for trying to get a government job?]

Veterans' preference points along with applicable job training were huge factors for me getting hired by the Federal Government. Obviously, joining the military is a large commitment but I think it's the surest path to federal employment. The last general bid for my career field was open for a week ...
by SpecialK22
Mon Oct 10, 2016 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Crossing the line (becoming a miser)
Replies: 71
Views: 9903

Re: Crossing the line (becoming a miser)

Expensive beer has just as many calories as cheap beer My argument isn't that a miser replaces food calories with cheap beer rather than expensive beer. My argument is that miserly behavior is to largely disregard health to save money. not all fast food is bad, you can go to subway 1.) Subway is li...
by SpecialK22
Mon Oct 10, 2016 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Crossing the line (becoming a miser)
Replies: 71
Views: 9903

Re: Crossing the line (becoming a miser)

From my perspective, here are two prime examples that I've seen that I would consider miserly: Missing your ten year old daughter's birthday to work overtime for the time-and-a-half pay. Someone else is willing to work it for you, and you don't particularly need the money. Your mindset is that acqui...
by SpecialK22
Tue Sep 27, 2016 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Net Worth Milestone Today - $1.5M
Replies: 128
Views: 18945

Re: Net Worth Milestone Today - $1.5M

Congratulations Meg! This is more directed at the detractors: I think one of the benefits of this board is the ability to openly discuss one's personal finances. Even if nothing is "actionable"--I personally don't feel that about her post--this board still provides an outlet for emotional ...
by SpecialK22
Tue Aug 02, 2016 5:18 am
Forum: Personal Consumer Issues
Topic: Vacation loans
Replies: 37
Views: 4088

Re: Vacation loans

This sounds like a marketing twist on a personal loan--kind of push towards certain consumers for why they might need a personal loan. Taking a loan to go on vacation falls into the same category as getting an MBA from an unaccredited online school... the consumer's heart is in the right place, but ...
by SpecialK22
Wed Jul 06, 2016 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Money vs. Happiness
Replies: 94
Views: 12237

Re: Money vs. Happiness

I think most everyone struggles with finding the balance between career/money and relationships. Since you seem to be finding yourself more dissatisfied with your situation, it might be time to leave. At 30 with around $220k and the ability to find work for $100k+ in an area that you want to live is...
by SpecialK22
Thu May 26, 2016 10:59 am
Forum: Investing - Theory, News & General
Topic: Can I just let my money compound now?
Replies: 51
Views: 6822

Re: Can I just let my money compound now?

anything's possible, but I wouldn't bet on it. If you put it all in equities and get a fortuitous 7% real for the next 40 years, you'd have $1.5 million in purchasing power at age 65. That'd certainly be enough. And that is the historic return of the S&P, give or take... Are you sure you're acc...
by SpecialK22
Fri May 06, 2016 4:26 am
Forum: Investing - Theory, News & General
Topic: Numeracy and Wealth
Replies: 44
Views: 6969

Re: Numeracy and Wealth

Since the language of money is math, it seems intuitive that numeracy would play a large role in determining those best at accumulating it. Personally, I'm around average when it comes to mathematical concepts (I have the standardized test scores to back it up). That's why I like indexing so much, i...
by SpecialK22
Thu May 05, 2016 7:12 am
Forum: Personal Consumer Issues
Topic: Peculiar Airline Pricing
Replies: 22
Views: 4177

Re: Peculiar Airline Pricing

Throwaway ticketing is against most or all airlines' conditions of carriage. Will they likely come after you if it isn't a clear trend? Probably not.
by SpecialK22
Tue Nov 24, 2015 11:15 am
Forum: Personal Finance (Not Investing)
Topic: PhD Mechanical Engineer --> Law School?
Replies: 47
Views: 5254

Re: PhD Mechanical Engineer --> Law School?

Second, there are Patent and Trademark Office jobs that are also no-JD required that can pay quite well for gov't. Originally, I was going to come in here and suggest this path also. A couple of friends went this route after finishing their engineering degrees. Good salary and benefits with a seemi...
by SpecialK22
Sun Oct 11, 2015 10:17 pm
Forum: Personal Consumer Issues
Topic: Thinking of quitting job for a year of travel
Replies: 59
Views: 5918

Re: Thinking of quitting job for a year of travel

I'd say go for it! It sounds like the time off shouldn't have a major negative effect on your career, and you will probably end up having lived a more enriched life. A thought problem which might help with the decision: If after your travels you would have no recollection of having gone, would you s...
by SpecialK22
Sun Oct 11, 2015 9:53 pm
Forum: Investing - Help with Personal Investments
Topic: To pay for [children's] college education? Or not ...
Replies: 206
Views: 17798

Re: To pay for [chidren's] college education? Or not ...

For the OP, this certainly isn't an either or decision and keep in mind money is fungible. However, if looking at it through option A and option B, I would personally see option A as the more beneficial choice. Being debt free when starting out in life allows for a great deal of freedom and alleviat...
by SpecialK22
Tue Sep 29, 2015 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Is private high school "worth it"?
Replies: 130
Views: 9596

Re: Is private high school "worth it"?

I (and most of my siblings) attended Catholic schools from K-12 despite living in a very good school district. My parents are deeply religious, so that was the main factor in them wanting to send us to Catholic schools. Even though I went to a parochial school from K-8, I think only five or so of my...
by SpecialK22
Mon Sep 14, 2015 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Future Government Pension
Replies: 9
Views: 2156

Re: Future Government Pension

Probably the greatest risk to the pension would be getting contracted out. Even the union isn't 100% against the idea; however, the only option they will entertain is a non-profit option where benefits remain intact. I'd guess that a pension of some sort will still exist in 25 years. Making it throu...
by SpecialK22
Mon Sep 07, 2015 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 372
Views: 63919

Re: Question for the Bogleheads Millionaires

From posts here it makes it seem to be a lawyer with a virtually guaranteed route to big law you need to go to Harvard, Yale, or Princeton for your JD. I've been a lawyer for a long time now, and have never met anyone with a JD from Princeton. Yeah, that's my mistake. I meant Stanford and not Princ...
by SpecialK22
Sun Sep 06, 2015 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Question for the Bogleheads Millionaires
Replies: 372
Views: 63919

Re: Question for the Bogleheads Millionaires

It's straightforward in the US to get a $150K+/year job with the right education. That's a typical starting salary for someone from a good JD or MBA program or any med school. You don't need to be particularly creative or even a very productive employee to earn that kind of salary. True, but don't ...
by SpecialK22
Mon Jul 27, 2015 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Job with TSP + pension vs 401k 12% cash match
Replies: 16
Views: 2107

Re: Job with TSP + pension vs 401k 12% cash match

It seems you're most concerned with the retirement benefits package each job offers, so if you break it down through contributions you get this: Federal Job Paid by the employee: TSP 5% Regular FERS FRAE 4.4% Paid by the employer: TSP match 5% Regular FERS FRAE 11.1% Healthcare benefits in retiremen...
by SpecialK22
Tue Jul 21, 2015 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Military career or Top MBA
Replies: 37
Views: 5177

Re: Military career or Top MBA

I'd agree that being an IMA is probably your best option to continue service while carrying on a busy personal and professional life, especially as an officer. Even though the regular reserves can be flexible, as an officer a lot more would be expected of you since you would be put in a leadership r...
by SpecialK22
Thu Jul 02, 2015 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Defending Public Safety Employees' Retirement Act
Replies: 8
Views: 2255

Re: Defending Public Safety Employees' Retirement Act

It's "50 is the new 55." Everybody gets an exception to the penalty in the case of distributions from a work retirement plan after separation from service with that employer, when the separation occurs in (or after) the year in which you reach age 55. "Public safety employees" (...
by SpecialK22
Thu Jul 02, 2015 8:47 am
Forum: Personal Finance (Not Investing)
Topic: Defending Public Safety Employees' Retirement Act
Replies: 8
Views: 2255

Re: Defending Public Safety Employees' Retirement Act

Yep, I just used the title of the Act as the subject. My understanding is that for government employees in the prescribed career fields "50 is the new 59.5" after December 31, 2015. I had heard, but I could not find it written, that it also required that the individual be retired from gove...
by SpecialK22
Thu Jul 02, 2015 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Defending Public Safety Employees' Retirement Act
Replies: 8
Views: 2255

Defending Public Safety Employees' Retirement Act

For any Federal law enforcement officers, customs and border protection officers, firefighters, and air traffic controllers here, President Obama signed this act into law June 29. Basically, it allows for penalty free distributions from government retirement plans after age 50. To amend the Internal...
by SpecialK22
Wed Jun 24, 2015 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Financial Counseling for a Veteran
Replies: 2
Views: 374

Re: Financial Counseling for a Veteran

http://www.militaryonesource.mil/ is a great free resource that includes financial counseling. I have never used the financial counseling portion though, so I can't comment on it. I'm also not sure if he would be eligible, but based on the seeming level of his disability he might. The eligibility pa...
by SpecialK22
Thu Jun 11, 2015 5:54 am
Forum: Investing - Help with Personal Investments
Topic: For those of you with pensions...
Replies: 25
Views: 4360

Re: For those of you with pensions...

I tend to have faith that social security, a military pension, and a civilian government pension will exist in some form when I reach the respective ages where I can claim them. Just by adding up my contributions to the civilian government pension, social security, TSP up to match, and TSP match I a...
by SpecialK22
Fri Jun 05, 2015 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Federal Employment
Replies: 86
Views: 11610

Re: Thoughts on Federal Employment

Ditto the comments about job security and benefits, although some local governments have some excellent benefits as well. Overall I greatly enjoy it, but it certainly isn't without its headaches. I will add this: Federal jobs can be competitive and hiring processes can be fickle. Within my career fi...
by SpecialK22
Tue Jun 02, 2015 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Western Governor's University (WGU)
Replies: 15
Views: 3863

Re: Western Governor's University (WGU)

A couple of years ago I looked seriously into attending WGU, but opted against it for two major reasons: 1.) I was using the Post-9/11 GI Bill and living in a high cost of living area. The tax-free housing rate was around three times as much if I had at least one class which had an in-classroom comp...
by SpecialK22
Tue May 19, 2015 8:43 am
Forum: Personal Finance (Not Investing)
Topic: [Veterans who rec'd EMT training may be fast-tracked to civilian certification]
Replies: 34
Views: 3153

Re: Jobs for Retired Air Force (without degree)

By no college degree I assume you mean this person has no bachelor's degree. More than likely they have completed their Community College of the Air Force associate's degree. They probably also have a fair amount of additional college credits that they might be able to use towards completing a bache...
by SpecialK22
Thu Apr 30, 2015 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Private Schools - Tuition
Replies: 90
Views: 7700

Re: Private Schools - Tuition

We found a school that has a great reputation, that friends have used, and praise highly. The cost is $19,100 per annum. That made me gasp, to be quite honest. The school goes from pre-k, through sixth grade, with the same tuition for each grade. I apologize in advance as this is a pretty emotional...
by SpecialK22
Sun Apr 26, 2015 6:17 pm
Forum: Investing - Help with Personal Investments
Topic: Retiring in two months - what to do with TSP?
Replies: 11
Views: 2985

Re: Retiring in two months - what to do with TSP?

In regards to the G Fund proposed changes, I believe you are referencing the wording found in the Concurrent Resolution on the Budget - Fiscal Year 2016 Align the G-Fund Investment Return with an Appropriate Risk Profile. The resolution assumes savings by correctly aligning the rate of return on U.S...
by SpecialK22
Mon Apr 13, 2015 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of College & Weighing the Merits of Top Schools
Replies: 304
Views: 29320

Re: Cost of College & Weighing the Merits of Top Schools

There is room to disagree on this. It is not an obvious ripoff to me. That's what makes horse races. I'm curious, and I'm not trying to start an argument, but what situations do you see where spending that amount of money for an undergraduate degree is a prudent choice? I honestly can't think of an...
by SpecialK22
Mon Apr 13, 2015 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Cost of College & Weighing the Merits of Top Schools
Replies: 304
Views: 29320

Re: Cost of College & Weighing the Merits of Top Schools

Is it worth going to a top tier school and paying $240,000 to $280,000 when all is said and done (these are real numbers...I just looked yesterday and Northwestern is $68,xxx per year)? No institution is worth paying that amount of money out of pocket for an undergraduate education. period. Obvious...
by SpecialK22
Sun Apr 05, 2015 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Federal employee HDHP problems setting up HSA
Replies: 11
Views: 1345

Re: Federal employee HDHP problems setting up HSA

I am in an HDHP but through a different insurance provider than Blue Cross. I was also initially put into an HRA by mistake, and I think the mistake was on the OPM's side if I remember correctly. They coded me for HRA instead of HSA when I enrolled during open season. It did take me calling the insu...
by SpecialK22
Sat Apr 04, 2015 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Paying for childrens' college
Replies: 121
Views: 11082

Re: Paying for childrens' college

I think the landscape of higher education will change dramatically between now and when your twins start college. Online courses, probably of the MOOC variety, will replace much of the current traditional classroom learning. Regardless of what shape higher education will take, I believe that overall...
by SpecialK22
Fri Feb 27, 2015 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Help! Ive been put on a performance improvement plan!
Replies: 66
Views: 16402

Re: Help! Ive been put on a performance improvement plan!

I hope everything goes well for you today, and I'm sure one way or another things will work out for the best. I have 40-50 employees spread throughout a region who are each billable to the client, so I don't work closely with any of them on a daily basis. I find it difficult to manage remotely but i...
by SpecialK22
Thu Feb 19, 2015 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Should I Quit My Job
Replies: 46
Views: 8599

Re: Should I Quit My Job

I did four years active duty and have been in the Air Guard for 10 years, all enlisted and currently an E7. Me personally? I think it would be psychologically difficult to initially enlist in the military in my mid to late 30's. Those your age are likely in the SNCO ranks by then and closing in on e...
by SpecialK22
Sun Dec 28, 2014 8:36 am
Forum: Personal Finance (Not Investing)
Topic: FERS math question and military wrinkles...
Replies: 7
Views: 1674

Re: FERS math question and military wrinkles...

Reference the buyback percentage, there has been no change yet in that area. It's still 3% of base pay for most years of service, with service performed during 1999 and 2000 requiring slightly higher contribution amounts--3.25% for 1999 and 3.4% for 2000. These numbers are the same regardless of wha...
by SpecialK22
Fri Dec 26, 2014 4:40 pm
Forum: Local Chapters and Bogleheads Community
Topic: My Christmas Message To You -- 70 Years Ago.
Replies: 58
Views: 7054

Re: My Christmas Message To You -- 70 Years Ago.

Thank you, Taylor! Merry Christmas!
by SpecialK22
Fri Dec 26, 2014 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: FERS math question and military wrinkles...
Replies: 7
Views: 1674

Re: FERS math question and military wrinkles...

-The 4.4% is a definite drawback as that equals about $8,300/yr assuming a $190K base salary. That almost wipes out the benefit of the 401K match. -pointyhead is correct...26 days PTO/13 sick days/ 15 National Guard days I didn't realize the VA gave healthcare providers 26 annual vacation days righ...
by SpecialK22
Thu Dec 25, 2014 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: FERS math question and military wrinkles...
Replies: 7
Views: 1674

Re: FERS math question and military wrinkles...

3) FERS has the 3 legged stool of pension + TSP + social security..... is the social security payout any more or less than it would be to a non-FERS employee would had the exact same lifetime contribution into SS and the exact same age at withdrawal? SS is basically the same. It isn't reduced like ...
by SpecialK22
Wed Dec 24, 2014 5:41 am
Forum: Personal Finance (Not Investing)
Topic: What military income is taxed for Social Security?
Replies: 6
Views: 1080

Re: What military income is taxed for Social Security?

As a Vietnam-era veteran, an officer might I add, I am somewhat impressed by those salary levels. Wondering if "thank you for your service" might be a bit, well, odd, these days. Not that the military is up there with investment banking, but it sure beats teaching. Given the OP's username...

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