Search found 825 matches

by LiterallyIronic
Thu Nov 15, 2018 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 96
Views: 7970

Re: How Long / Hard To Become a Millionaire on Under $100k Income

Becoming a millionaire by 40 can be done by saving $60 a day from age 21 through 40 with an 8% return on investments. How hard it is to save $60 a day depends greatly on how close to the $100k/yr mark you get. Yes, that would be tough. $60 a day is $1,800 a month. Not sure what is harder, saving th...
by LiterallyIronic
Wed Nov 14, 2018 5:52 pm
Forum: Investing - Theory, News & General
Topic: Does Early Retirement Make You Live Longer?
Replies: 70
Views: 4228

Re: Does Early Retirement Make You Live Longer?

Probably anecdotal - but I have seen claims that earlier retirement shortens lifespan. Guys retire - and sit on a recliner watching TV and drinking a lot of beer and junk food. Geez, that's depressing. I do cardio exercises for an hour 4 X a week, wife does 5 X. We stay active and travel 4 to 6 tim...
by LiterallyIronic
Wed Nov 14, 2018 5:00 pm
Forum: Investing - Theory, News & General
Topic: Are you all staying the course?
Replies: 114
Views: 6775

Re: Are you all staying the course?

Yep, still investing four times per month - two Roth IRA contributions and two 401k contributions - at 90/10. Keep on keepin' on.
by LiterallyIronic
Tue Nov 13, 2018 11:02 am
Forum: Personal Consumer Issues
Topic: Is my Android tablet too old?
Replies: 16
Views: 807

Re: Is my Android tablet too old?

I just replaced my six-year-old Android phone that was running 2.3.6. It, too, slowly stopped being able to do what I wanted it to do. Eventually it could only load one website (bogleheads.org, funnily enough), since it's completely text-based and the battery life was down to about twenty minutes of...
by LiterallyIronic
Sat Nov 10, 2018 12:23 pm
Forum: Investing - Help with Personal Investments
Topic: New job - not sure how much to 401k and how much to Roth IRA
Replies: 17
Views: 1376

Re: New job - not sure how much to 401k and how much to Roth IRA

LiterallyIronic, you have not told us the most important piece of information - your tax bracket. You talk as if you are married and you talk as if you are a one income family, but those things cannot be assumed. If your entire family income is going to be $75k, you will be in the 12% bracket. That...
by LiterallyIronic
Fri Nov 09, 2018 11:33 pm
Forum: Investing - Help with Personal Investments
Topic: New job - not sure how much to 401k and how much to Roth IRA
Replies: 17
Views: 1376

Re: New job - not sure how much to 401k and how much to Roth IRA

I want to retire at 50, which makes the IRAs more attractive than the 401k, in terms of being able to access it at a younger age. However, my income now will be $75,000, and I expect a retirement income of no more than $24,000, so paying taxes on my income in retirement instead of now makes the 401...
by LiterallyIronic
Fri Nov 09, 2018 11:06 pm
Forum: Investing - Help with Personal Investments
Topic: New job - not sure how much to 401k and how much to Roth IRA
Replies: 17
Views: 1376

Re: New job - not sure how much to 401k and how much to Roth IRA

I don't think your numbers are adding up to retiring at 50. Have you run through a calculator like the one at Fidelity? But to answer your question, max out both 401k and Roth IRA. To quote what is often said around here, once that tax advantaged space leaves for the year, its gone forever. Use it ...
by LiterallyIronic
Fri Nov 09, 2018 8:01 pm
Forum: Investing - Help with Personal Investments
Topic: New job - not sure how much to 401k and how much to Roth IRA
Replies: 17
Views: 1376

New job - not sure how much to 401k and how much to Roth IRA

I just landed a new job with higher pay ($75,000) than my current job ($63,500). We've been maxing out two Roth IRAs ($458/month each) and also putting $204 per paycheck into my 401k. That makes $1,324 invested every month. My current semi-monthly paycheck (times two) breaks down as follows: Gross :...
by LiterallyIronic
Fri Nov 09, 2018 4:51 pm
Forum: Personal Consumer Issues
Topic: Finally cutting cable -- is 40mbps enough for streaming services?
Replies: 25
Views: 2503

Re: Finally cutting cable -- is 40mbps enough for streaming services?

My wife would frequently stream Netflix (one stream, standard definition) while I was playing an online video game and neither of us had any issues, at 5Mbps. We also were able to stream YouTube TV (free trial) at 5Mbps without any problem, either.
by LiterallyIronic
Fri Nov 09, 2018 2:29 pm
Forum: Personal Consumer Issues
Topic: Specifying degree field on resume or not
Replies: 6
Views: 595

Re: Specifying degree field on resume or not

I am getting back into the job hunt world after a lonnng time away from it. I work in the tech industry and have a Bachelors in Marketing from years ago (obviously not working in that area now). On my resume, is it ok to leave out the field of study? My situation isn't exactly like that, but kind o...
by LiterallyIronic
Thu Nov 08, 2018 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14558

Re: How much money are you leaving your kids after you die?

Legacy is everything to me. I love my kids. My grandkids fall far... far and away behind my sons. Life is unpredictable. Like my parent, I want to give them a chance to live comfortably during their retirement. To me, having money is not about what's in it for me. It's about not worrying about tomo...
by LiterallyIronic
Thu Nov 08, 2018 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11678

Re: If expenses are low, are some of us over saving?

So your proposal is to have no retirement savings and live on $36k (maybe) a year during retirement because you have your house paid off? Sounds like a wonderful retirement. I hope it doesn't last too long! JT $36k is way too much for me. I worked too long if I'm able to spend $36k annually in reti...
by LiterallyIronic
Wed Nov 07, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

Yuck - who wants to work until 62+? Where's the chart for retiring at 55? :sharebeer Good luck finding a chart for that. I had to make my own in Excel for finishing university at 32 and retiring at 50. Spoiler alert: it requires saving a painful amount of money. Sure but you waited an extra decade ...
by LiterallyIronic
Wed Nov 07, 2018 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

Yuck - who wants to work until 62+? Where's the chart for retiring at 55? :sharebeer Good luck finding a chart for that. I had to make my own in Excel for finishing university at 32 and retiring at 50. Spoiler alert: it requires saving a painful amount of money. Sure but you waited an extra decade ...
by LiterallyIronic
Wed Nov 07, 2018 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

sjt wrote:
Wed Nov 07, 2018 12:05 pm
Yuck - who wants to work until 62+? Where's the chart for retiring at 55?


:sharebeer
Good luck finding a chart for that. I had to make my own in Excel for finishing university at 32 and retiring at 50. Spoiler alert: it requires saving a painful amount of money.
by LiterallyIronic
Tue Nov 06, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14558

Re: How much money are you leaving your kids after you die?

I don't have assets (or planned assets) of over $1 million, but I want to bounce my last check. My dad always says that we should expect about four dollars when he dies, and that's probably about what my daughter will get, too.
by LiterallyIronic
Mon Nov 05, 2018 2:15 pm
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7348

Re: Do people calculate savings rate on gross income?

I use gross. I don't even know what my net income is. Is "net income" gross minus taxes? Gross minus taxes minus pre-tax health insurance premiums? What about pre-tax HSA contributions? What if I get a tax refund or owe more taxes in April? Then my "net" was wrong the whole year? Too complicated. It...
by LiterallyIronic
Mon Nov 05, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Deal fell through and didn't get escrow money.....
Replies: 56
Views: 5896

Re: Deal fell through and didn't get escrow money.....

I am surprised that the sellers would accept 1% of the sales price as the earnest money. That indicates to me that the buyer is not that serious and could easily walk away from that money, should the deal go sour (for any number of reasons, not just because their old house didn't sell). Around here...
by LiterallyIronic
Thu Nov 01, 2018 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: 45% increase in marketplace insurance
Replies: 72
Views: 4137

Re: 45% increase in marketplace insurance

1. Go without health insurance like hundreds of millions have done in the past. If something happens, get on the exchange. If you have enormous bills in the meantime, work it out with the provider. In the unlikely event they refuse, file bankruptcy. +1. The insurance pricing reflects the risk that ...
by LiterallyIronic
Thu Nov 01, 2018 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: 45% increase in marketplace insurance
Replies: 72
Views: 4137

Re: 45% increase in marketplace insurance

So much for all the advance "news" about at 6% increase. Its hard to make sense of this financially. At over 2K/month, it doesn't pay for anything except catastrophic events. Of course if you did end up needing something, the medical system would happily charge you 2-3X more than they charge the in...
by LiterallyIronic
Tue Oct 30, 2018 12:51 pm
Forum: Personal Consumer Issues
Topic: People with older car, share your unusual repairs
Replies: 84
Views: 5211

Re: People with older car, share your unusual repairs

You've paid $1600 in repairs for the last 5 years. I bet you saved more than that buying a Sonata over a more expensive Accord or Camry. $1600+time+frustration+anxiety while looking for a good mechanic=??? You only have to look for a good mechanic once. I always go to the same place. And if he's cl...
by LiterallyIronic
Mon Oct 29, 2018 5:17 pm
Forum: Personal Consumer Issues
Topic: People with older car, share your unusual repairs
Replies: 84
Views: 5211

Re: People with older car, share your unusual repairs

2001 Dodge Stratus, 178,000 miles. Ignored the oil light and destroyed the engine. $3,000 later I had a completely rebuilt engine put in, along with fixing a large number of things that can be fixed for a much cheaper price when there isn't an engine getting in the way. I've put 50,000 miles on the ...
by LiterallyIronic
Fri Oct 26, 2018 12:07 pm
Forum: Investing - Theory, News & General
Topic: What's everyone currently in?
Replies: 93
Views: 8076

Re: What's everyone currently in?

My Roth IRA is in Vanguard Target Retirement Fund 2045. It was the most aggressive one they had when I started investing. I should probably switch to 2050 one of these days, but I imagine they're pretty much identical right now at 90/10. My 401k is in a similar target retirement fund, too, but with ...
by LiterallyIronic
Tue Oct 23, 2018 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: When Will Attaining Millionaire Status Be Obsolete?
Replies: 77
Views: 4814

Re: When Will Attaining Millionaire Status Be Obsolete?

A 30 year old would have to have a fairly austere life in a LCOL area to live on 1 million dollars for life. 40k a year in a LCOL area, not really. Yeah they'd have that dream life of Mr Money Mustache (without all the blog income), budgeting for a used civic every 10 years, worrying about having t...
by LiterallyIronic
Tue Oct 23, 2018 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: How do you evaluate HDHPs?
Replies: 17
Views: 1288

Re: How do you evaluate HDHPs?

For those who have an HDHP, how do/did you make the decision to switch? Do you have a family member with a chronic health condition? I especially want to hear from HDHP participants with this circumstance. Do you find that you are paying healthcare expense out of pocket, rather than using the funds...
by LiterallyIronic
Tue Oct 23, 2018 1:33 pm
Forum: Investing - Theory, News & General
Topic: 'Smart money' bailing on the market, time to get out?
Replies: 92
Views: 12244

Re: Smart money bailing on the market, time to get out?

Or you could just channel Osho for advice. :wink: I already did. His advice: invest in Rolls-Royce :wink: Actually it's probably not bad advice - I saw in the Credit Suisse yearbook by Dimson and colleagues that automobiles have been the best investment, historically, after stocks. :wink: historica...
by LiterallyIronic
Mon Oct 22, 2018 10:19 am
Forum: Personal Consumer Issues
Topic: PSA: Don't buy a big house
Replies: 248
Views: 25643

Re: PSA: Don't buy a big house

On the flip side, I wish ours was bigger. 1274 square feet. We make it work, but it would be nice to have 1500 to 2000 square feet so we'd have more room to put all this junk that we somehow accumulated.
by LiterallyIronic
Sun Oct 21, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Give 1 Week Notice: Can Employer Retaliate by Not Paying Vacation?
Replies: 53
Views: 5069

Re: Give 1 Week Notice: Can Employer Retaliate by Not Paying Vacation?

I think one of the factors in employers moving to PTO from "sick leave" is the "abuse" of accrued sick leave by many employees. Many of us probably know a lot of fellow employees who are "sick" on a regular basis and use up any and all accrued sick leave every year. Too bad, in my opinion. I work f...
by LiterallyIronic
Sat Oct 20, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Put more than 20% down on a house?
Replies: 33
Views: 3604

Re: Put more than 20% down on a house?

We put 29% down. The bank offered slightly better terms for 25% down than 20% down, but there was no difference in terms at the 30% barrier, so we stopped at 29%. Why 29% instead of 25%? Because that was the amount necessary to get our PITI down to $800. This, of course, crushed our savings account ...
by LiterallyIronic
Fri Oct 19, 2018 4:14 pm
Forum: Investing - Help with Personal Investments
Topic: Timing mortgage pay down
Replies: 49
Views: 3964

Re: Timing mortgage pay down

The one topic that seems to be discussed to no end on this forum is whether to pay down your mortgage or invest. This got me thinking whether the optimal answer depends on timing. Traditional amortization schedules heavily weigh interest in the early life of the mortgage. Your monthly payment doesn...
by LiterallyIronic
Fri Oct 19, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Did you retire because you hit your number?
Replies: 71
Views: 6599

Re: Did you retire because you hit your number?

Besides the financial matters, retiring most likely means a one-way street unless you are "retiring" real early. It is especially true in the "hard" field such as science or engineering. Didn't the thought of leaving behind what more or less defined you for most of your adult life scare you? "Scare...
by LiterallyIronic
Fri Oct 19, 2018 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Timing mortgage pay down
Replies: 49
Views: 3964

Re: Timing mortgage pay down

The one topic that seems to be discussed to no end on this forum is whether to pay down your mortgage or invest. This got me thinking whether the optimal answer depends on timing. Traditional amortization schedules heavily weigh interest in the early life of the mortgage. Your monthly payment doesn...
by LiterallyIronic
Wed Oct 17, 2018 9:37 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 96
Views: 11300

Re: What do you consider 'enough'?

It's irrelevant whether the house is paid off (though I think a paid off house is desirable). If you haven't paid the house off, that's an expense your income has to support and your calculations have to include that. If the numbers work, the numbers work. Agreed that it's mathematically irrelevant...
by LiterallyIronic
Wed Oct 17, 2018 8:58 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 96
Views: 11300

Re: What do you consider 'enough'?

But I'll stress -- at age 40 or 45, we would not have been able to make those calculations; forget computing expenses, we simply did not have a good understanding of what our lifestyle was likely to be at retirement age. I'm trying to retire at 50, so I better have a good handle on it by 40 or 45. ...
by LiterallyIronic
Tue Oct 16, 2018 3:39 pm
Forum: Investing - Help with Personal Investments
Topic: advice on first home
Replies: 28
Views: 1762

Re: advice on first home

I would say to buy when you are ready, not when the market is ready.
by LiterallyIronic
Tue Oct 16, 2018 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: When to stop putting money into an older vehicle
Replies: 90
Views: 6420

Re: When to stop putting money into an older vehicle

As a fellow driver of clunkers (I'm driving a 2001 Dodge Stratus and my wife (and toddler) drive around in a 2001 Toyota Corolla), I drive them until they stop functioning. When it stops being able to drive, I will tow it to my mechanic and get an estimate for making it drive again. If it's under $1...
by LiterallyIronic
Fri Oct 12, 2018 3:44 pm
Forum: Personal Consumer Issues
Topic: Electric Lawn Mower Advice
Replies: 17
Views: 1006

Re: Electric Lawn Mower Advice

I have the Ego. Battery can do both my front and back yards on one charge. The battery is also compatible with my Ego trimmer, so I can swap between them as needed. It's about as loud as a vacuum cleaner, folds up, and starts with the push of a button. Highly recommended.
by LiterallyIronic
Fri Oct 12, 2018 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 73
Views: 7263

Re: Just Divorced -- Need Help

The jaded person is the one that closes their eyes to the financial implications of a potential divorce. A divorce can be financially devastating, often for decades after the marriage ended. Divorce is very common today - the divorce rate is still almost 50% of marriages. Why not acknowledge and ad...
by LiterallyIronic
Thu Oct 11, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 73
Views: 7263

Re: Just Divorced -- Need Help

I can never quite understand how the debt one spouse creates can be the responsibility of the other spouse in a divorce. I’ve said it before, I’ll say it again. As anyone who has been through a divorce can tell you, at it’s core marriage is a legal contract between 2 people and their local, state a...
by LiterallyIronic
Thu Oct 11, 2018 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: New Car: No Collision/Comprehensive?
Replies: 52
Views: 4376

Re: New Car: No Collision/Comprehensive?

I'm as cheap as they come. I carry state minimum coverage on my sub-$1000 clunker. However , if I had an expensive car - and someday I'd like to own a DeLorean, which runs about $30k - I would absolutely have comp/coll/under-insured/uninsured coverage. I'd have all the coverages possible. And I'd b...
by LiterallyIronic
Wed Oct 10, 2018 7:57 pm
Forum: Investing - Help with Personal Investments
Topic: What did you buy today
Replies: 111
Views: 8390

Re: What did you buy today

I paid someone to winterize my sprinkler system.
by LiterallyIronic
Wed Oct 10, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: New Car: No Collision/Comprehensive?
Replies: 52
Views: 4376

Re: New Car: No Collision/Comprehensive?

I'm as cheap as they come. I carry state minimum coverage on my sub-$1000 clunker. However , if I had an expensive car - and someday I'd like to own a DeLorean, which runs about $30k - I would absolutely have comp/coll/under-insured/uninsured coverage. I'd have all the coverages possible. And I'd bu...
by LiterallyIronic
Tue Oct 09, 2018 10:50 am
Forum: Investing - Theory, News & General
Topic: What tools do you use to track your finances?
Replies: 50
Views: 3921

Re: What tools do you use to track your finances?

Excel. One spreadsheet in which I enter all of our account balances on the first of every month, and a different spreadsheet in which I enter all of our expenses. Which reminds me that I haven't updated that since the last week of September so that's going to be a big pain in the neck. I'm intrigue...
by LiterallyIronic
Tue Oct 09, 2018 10:33 am
Forum: Personal Consumer Issues
Topic: What purchase saved you the most money?
Replies: 136
Views: 12913

Re: What purchase saved you the most money?

I feel like this thread has left the original intent. Everyone is saying things they bought instead of buying a more expensive thing (cheaper car, cheaper house, etc), when OP was asking for something that was more expensive upfront but then it hit the break-even point and became less expensive. For...
by LiterallyIronic
Mon Oct 08, 2018 5:14 pm
Forum: Investing - Theory, News & General
Topic: What tools do you use to track your finances?
Replies: 50
Views: 3921

Re: What tools do you use to track your finances?

Excel. One spreadsheet in which I enter all of our account balances on the first of every month, and a different spreadsheet in which I enter all of our expenses. Which reminds me that I haven't updated that since the last week of September so that's going to be a big pain in the neck.
by LiterallyIronic
Sun Oct 07, 2018 5:14 pm
Forum: Personal Consumer Issues
Topic: What are your strategies when shopping for a house?
Replies: 38
Views: 3463

Re: What are your strategies when shopping for a house?

Holy smokes are people making it complicated. Three visits to the house? Huge list of requirements? I just told our agent our max price and our requirements: near a freeway on-ramp and not in an HOA. Underground sprinklers preferred. We preferred two bathrooms, but couldn't get that in our price ran...
by LiterallyIronic
Wed Oct 03, 2018 11:14 am
Forum: Investing - Help with Personal Investments
Topic: My biggest mistake - market timing
Replies: 62
Views: 9149

Re: My biggest mistake - market timing

You didn't market timing correctly in 2016 when interest rate is still near zero and oil price is at $60/barrel. And you shouldn't market timing wrong now when short term interest converge to long term interest at 3%, oil price is ascend toward to $80/barrel. trade war intensifing. Stay put and you...
by LiterallyIronic
Tue Oct 02, 2018 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: How many months/years of living expenses do you save each year?
Replies: 29
Views: 3489

Re: How many months/years of living expenses do you save each year?

I save $15,888/year (25% of gross), not including employer match or mortgage pre-payment, which is 8 months of living expenses saved per year. I really need to figure out how to get my savings rate to 30% of gross. Perhaps start with not pre-paying your mortgage? :wink: Heh. That is the low-hanging...
by LiterallyIronic
Tue Oct 02, 2018 12:31 pm
Forum: Investing - Theory, News & General
Topic: Enjoying your money before retirement
Replies: 65
Views: 6345

Re: Enjoying your money before retirement

Just don’t kid yourself that beccause you “saved” for 5 years to take an expensive vacation that somehow that has improved your financial security. Well that just deflated my balloon. :D For years, I considered saving for a new car or vacation or college as savings. Then when I spent it, it felt li...
by LiterallyIronic
Tue Oct 02, 2018 9:00 am
Forum: Personal Finance (Not Investing)
Topic: How many months/years of living expenses do you save each year?
Replies: 29
Views: 3489

Re: How many months/years of living expenses do you save each year?

I save $15,888/year (25% of gross), not including employer match or mortgage pre-payment, which is 8 months of living expenses saved per year. I really need to figure out how to get my savings rate to 30% of gross.