Search found 16 matches

by miamivice
Fri Oct 30, 2015 9:17 am
Forum: Personal Finance (Not Investing)
Topic: How much of your total income are you worth?
Replies: 51
Views: 6483

How much of your total income are you worth?

I just did an interesting experiement. I added up the amount that my wife and I have made each year from birth until now, and got a total. Then I took our total net worth, and divided it by the total income that we've made. My number came out to 0.772. In other words, we are currently worth 77% of w...
by miamivice
Wed Oct 28, 2015 1:51 am
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3085

Re: Should I increase the rate at which I'm saving up for retirement?

To answer your question, I don't know why you'd need 4x your current spending in retirement. The usual goal is to replace most of the pre-retirement income from savings, less the savings rate, not to exceed pre-retirement income. This is the cusp of my original question. The $120k I expect to have ...
by miamivice
Tue Oct 27, 2015 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3085

Re: Should I increase the rate at which I'm saving up for retirement?

I'm not going to post the details of my portfolio because I'm not asking questions about whether I have the right mix of stocks, etc. Plus it is too complicated to easily post here. The fundamental question that we all have to ask about planning for retirement is what our needs are, and how much per...
by miamivice
Tue Oct 27, 2015 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3085

Re: Should I increase the rate at which I'm saving up for retirement?

My package consists of 4 pensions (2 social security + 2 employer) but all pensions total to a smallish number around $10,000 per year in today's dollars. The majority is in 401(k) and Roth IRA (about $110,000 per year), with about a 50/50 split between the two. Any company bankruptcy would have a ...
by miamivice
Tue Oct 27, 2015 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3085

Re: Should I increase the rate at which I'm saving up for retirement?

My package consists of 4 pensions (2 social security + 2 employer) but all pensions total to a smallish number around $10,000 per year in today's dollars. The majority is in 401(k) and Roth IRA (about $110,000 per year), with about a 50/50 split between the two. Any company bankruptcy would have a ...
by miamivice
Tue Oct 27, 2015 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3085

Re: Should I increase the rate at which I'm saving up for retirement?

My package consists of 4 pensions (2 social security + 2 employer) but all pensions total to a smallish number around $10,000 per year in today's dollars. The majority is in 401(k) and Roth IRA (about $110,000 per year), with about a 50/50 split between the two. Any company bankruptcy would have a s...
by miamivice
Tue Oct 27, 2015 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Should I increase the rate at which I'm saving up for retirement?
Replies: 36
Views: 3085

Should I increase the rate at which I'm saving up for retirement?

I currently have a retirement package that will provide about $120,000 per year in today's dollar, assuming I continue to set aside at my current rate. My expenses today (excluding expenses that we will not have in retirement, but not including potential new things that we might start doing once we ...
by miamivice
Tue Aug 25, 2015 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Should I add $10,000 to a Roth IRA this year?
Replies: 6
Views: 1010

Should I add $10,000 to a Roth IRA this year?

I'm debating whether I should make an additional retirement contribution in the form of $10,000 to my Roth IRA this year. My financial situation is as follows: - No debt, except $440,000 home mortgage at 3.25% interest - Retirement savings of $400,000. About half is in Roth IRA funds which of course...
by miamivice
Mon Apr 27, 2015 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Feel like I made a mistake with buying a house: appreciation
Replies: 43
Views: 7110

Feel like I made a mistake with buying a house: appreciation

I bought a house 2.5 years ago that has appreciated by 12%. Another person I know bought a house 3 years ago that has appreciated by 120%. This person bought in a different area that is a red hot housing market. My area is not. We are both in the same metropolitian area. I'm feeling a bit bad about ...
by miamivice
Sat Apr 04, 2015 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Buy more expensive house to improve financial situation?
Replies: 37
Views: 5586

Buy more expensive house to improve financial situation?

I currently live in a $600,000 house with a $460,000 loan. The house appreciate over the last two years has been about $60,000. In my area, this is about half of what I could have compared to living in a different (more premium) location in the metropolitian region. I have $450,000 in non-retirement...
by miamivice
Fri Apr 11, 2014 4:24 am
Forum: Personal Finance (Not Investing)
Topic: Determining spending allowance for myself
Replies: 6
Views: 587

Re: Determining spending allowance for myself

Yes, the $400k is above and beyond both college savings and retirement. I consider both retirement and college savings to be "fully funded."
by miamivice
Fri Apr 11, 2014 3:49 am
Forum: Personal Finance (Not Investing)
Topic: Determining spending allowance for myself
Replies: 6
Views: 587

Determining spending allowance for myself

I have a large sum of money - about $400,000 - sitting in a investment funds that I have no intended purpose for. We are finished with college savings for our children, we have no debt, and our retirement is solid. We own a house and are making monthly payments on at a rate of 3.25%, so I'm not moti...
by miamivice
Wed Mar 05, 2014 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Does it make sense to rollover to a Roth IRA?
Replies: 4
Views: 325

Does it make sense to rollover to a Roth IRA?

I have about $375,000 in retirement assets. 21 years from retirement if I retire at 55, 31 years if I retire at 65. About $200,000 are in pre-tax accounts, i.e., 401(k) and Roth IRA About $175,000 are in after-tax accounts, i.e., Roth IRA I have an option to roll $50,000 of pre-tax money into a Roth...
by miamivice
Mon Dec 30, 2013 11:14 am
Forum: Personal Finance (Not Investing)
Topic: $400,000 at age 35 - should I start spending more?
Replies: 28
Views: 4849

Re: $400,000 at age 35 - should I start spending more?

My mortgage balance is $450,000. It's tempting to pay it off, but I pay 3.25% interest (about 2.5% after tax advantages due to mortgage deducation), and I figure I'll do at least that well investing for the long term in the stock market. The $400,000 in non-retirement could be used for retirement, b...
by miamivice
Mon Dec 30, 2013 7:19 am
Forum: Personal Finance (Not Investing)
Topic: $400,000 at age 35 - should I start spending more?
Replies: 28
Views: 4849

$400,000 at age 35 - should I start spending more?

I recently conducted a year end review of my financial status. It looks like I have $400,000 in non-retirement/non-housing assets. Other assets include $350,000 in retirement, $150,000 in home equity, and $100,000 in college savings. I'm 35. I'm having a hard time grasping what I'll do with the $400...
by miamivice
Tue Jun 11, 2013 11:48 am
Forum: Investing - Help with Personal Investments
Topic: How to invest $100,000
Replies: 3
Views: 1137

How to invest $100,000

I have $100,000 to invest. I'd like to hear that you'd go about investing this sum of money. It's money I've had for a long time, set aside for a particular purpose, and turned out didn't need it for that purpose. I'd like to invest it and help it grow because it is not earning interest as cash righ...

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