Search found 15860 matches

by KlangFool
Mon May 25, 2020 8:11 am
Forum: Personal Investments
Topic: Taxable instead of tax deferred
Replies: 7
Views: 587

Re: Taxable instead of tax deferred

https://www.madfientist.com/how-to-acce ... nds-early/

OP,

The missing link in your thinking is you can withdraw from the 401K penalty-free before 59 1/2 years old. Please check out the above URL.

KlangFool
by KlangFool
Mon May 25, 2020 8:07 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

3) Consider decompressing, but consider keeping your head in the game, but don't stress about finding a job while COVID-19 is occurring, but i'd still keep my ears/eyes open to just watch in case something that lights your fire comes around. Over the next 6 months, we will find out a lot about how ...
by KlangFool
Mon May 25, 2020 7:38 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Taking different perspective at this time from you... Now that you are in this position again(unemployed & potential retirement), and faced with putting your savings and investing preparations to work, looking back are you happy with the results? Now would be a great time for hindsight on what you ...
by KlangFool
Mon May 25, 2020 7:28 am
Forum: Personal Investments
Topic: Time until money doubles
Replies: 26
Views: 2194

Re: Time until money doubles

The projection going forward is about 3% return on stocks and zero on bonds so effective growth at 2.55% using rule of 72 would give you around 29 years or so for your money to double. that is ridiculous. The projection? Or investing in stocks? Either way - even if it is true, can't stay true for 3...
by KlangFool
Mon May 25, 2020 7:15 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks,

There is one industry that is booming due to COVAD-19. It is less impacted and might be growing. It is the Telecom industry. All the WFH is generating a huge demand for the Telecom infrastructure. This is as per my contact in the industry.

KlangFool
by KlangFool
Mon May 25, 2020 7:12 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

KlangFool, I am sad to hear of your layoff. I consider you a friend here and it sounds like you take your own advice. I've always admired your preparedness. Sounds like you and your spouse are prepared for this. I do remember you talking about having kids (if I'm wrong, correct me). I have a friend...
by KlangFool
Sun May 24, 2020 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

KlangFool, I am sad to hear of your layoff. I consider you a friend here and it sounds like you take your own advice. I've always admired your preparedness. Sounds like you and your spouse are prepared for this. I do remember you talking about having kids (if I'm wrong, correct me). I have a friend...
by KlangFool
Sun May 24, 2020 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Ignore the stocks and just compare bonds to the mortgage - are you getting 3.5% return on the bond portion right now? qwertyjazz, Why should I? There is nothing there that makes your POV more valid than mine. I know that I am borrowing at 3.5% to invest in my 60/40 portfolio. I took a calculated ri...
by KlangFool
Sun May 24, 2020 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Laid Off- New Job Offer Advice!
Replies: 15
Views: 1152

Re: Laid Off- New Job Offer Advice!

Hey KlangFool, Thanks for the time to reply and also sorry to read of your displacement- tough times for a lot of folks across the country. The new offer is 20k under my most recent AZ base, b ut would be close to but still lower than my prior Texas salary. No inside info connect with the current c...
by KlangFool
Sun May 24, 2020 9:40 pm
Forum: Personal Investments
Topic: Time until money doubles
Replies: 26
Views: 2194

Re: Time until money doubles

https://personal.vanguard.com/us/insights/saving-investing/model-portfolio-allocations OP, Check out the above URL and ask yourself why your AA is not 70/30. It is pointless to be 80/20 or 90/10. KlangFool Are you implying that I'm taking on a lot more volatility for not enough returns to make it w...
by KlangFool
Sun May 24, 2020 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Laid Off- New Job Offer Advice!
Replies: 15
Views: 1152

Re: Laid Off- New Job Offer Advice!

Hey KlangFool, Thanks for the time to reply and also sorry to read of your displacement- tough times for a lot of folks across the country. The new offer is 20k under my most recent AZ base, b ut would be close to but still lower than my prior Texas salary. No inside info connect with the current c...
by KlangFool
Sun May 24, 2020 9:10 pm
Forum: Personal Investments
Topic: Time until money doubles
Replies: 26
Views: 2194

Re: Time until money doubles

https://personal.vanguard.com/us/insigh ... llocations

OP,

Check out the above URL and ask yourself why your AA is not 70/30. It is pointless to be 80/20 or 90/10.

KlangFool
by KlangFool
Sun May 24, 2020 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Laid Off- New Job Offer Advice!
Replies: 15
Views: 1152

Re: Laid Off- New Job Offer Advice!

Hey KlangFool, Thanks for the time to reply and also sorry to read of your displacement- tough times for a lot of folks across the country. The new offer is 20k under my most recent AZ base, b ut would be close to but still lower than my prior Texas salary. No inside info connect with the current c...
by KlangFool
Sun May 24, 2020 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Laid Off- New Job Offer Advice!
Replies: 15
Views: 1152

Re: Laid Off- New Job Offer Advice!

Hey All, Like many others, my job was recently displaced by Covid-19 economic impacts. I received a small severance and am fortunate to have a healthy emergency fund (thanks to the sage advice of folks on here). I've done my best to stay positive amidst the new reality of being unemployed for the f...
by KlangFool
Sun May 24, 2020 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Tell me if I understand the question. I think the concern is if you do not keep up than you cannot reverse that decision. If the facts stay the same, then it is reasonable to retire. You seem not to enjoy the job for its own sake (means of making money). So what circumstances could mean that you wo...
by KlangFool
Sun May 24, 2020 6:14 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

If the opposite happens and the market has been performing poorly and other unfortunate things happen also (perhaps spouse has to stop working earlier than you hoped, the ACA goes away, and inflation turns out to be high), what would you do to right the ship? Ron Ronnerson, I had planned for that. ...
by KlangFool
Sun May 24, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

If the opposite happens and the market has been performing poorly and other unfortunate things happen also (perhaps spouse has to stop working earlier than you hoped, the ACA goes away, and inflation turns out to be high), what would you do to right the ship? Ron Ronnerson, I had planned for that. ...
by KlangFool
Sun May 24, 2020 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, It is obvious that I am burned out. Over the last few months, I was hoping to get a follow-on long-term project (3 to 4 years) that will set me up all the way until early retirement. Then, COVAD-19 canceled the project forever when it is about to be signed. In any case, there is a resolution ...
by KlangFool
Sun May 24, 2020 11:46 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

If I were in your shoes, I would not want to work for cheap, but I am also afraid of losing opportunities by not looking for a job. That is probably your feeling. You don't need any advices, you just want some validation, I guess. Maybe, they will inform you next week that your job is not in jeopar...
by KlangFool
Sun May 24, 2020 10:42 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

If I were in your shoes, I would not want to work for cheap, but I am also afraid of losing opportunities by not looking for a job. That is probably your feeling. You don't need any advices, you just want some validation, I guess. Maybe, they will inform you next week that your job is not in jeopar...
by KlangFool
Sun May 24, 2020 9:53 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

What a great saying! I stepped back a bit in my last two years, and only the fact that I worked remotely made it palatable. It was so frustrating (even more than previously) to see management doing the same wrong things repeatedly, knowing how much simpler it would have been to do them correctly. (...
by KlangFool
Sun May 24, 2020 9:09 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

At the least, you're in a better position that what you imagined as your worst case retirement plan. https://www.bogleheads.org/forum/viewtopic.php?f=2&t=220234 If keeping up with the latest tech updates is getting harder, how about taking a lesser job just to keep benefits, some cash flow and serv...
by KlangFool
Sun May 24, 2020 8:57 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, So, it happened. I will be laid off by the end of June. The basic financial stuff: A) 3 months severance pay B) 1 year subsidized medical insurance. C) 1 year COBRA D) 110K to 120K of the Emergency Fund E) 1.35 to 1.4 million 60/40 portfolio F) Late 50+ years old. G) Annual expense of about ...
by KlangFool
Sun May 24, 2020 8:20 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, So, it happened. I will be laid off by the end of June. The basic financial stuff: B) 1 year subsidized medical insurance. C) 1 year COBRA These two items are what stuck out to me. I read three or so pages of this thread and saw a couple of people mention it as well, but these things do not ...
by KlangFool
Sun May 24, 2020 7:18 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Sorry to hear, Klang. I'd propose a mental 6 months break to recover from the emotional trauma of your job loss. Similar to the advice "Don't make any major decisions for 12-18 months" suggested following loss of a spouse, etc. This thread feels more emotionally traumatic than financially so. Thank...
by KlangFool
Sun May 24, 2020 7:17 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, So, it happened. I will be laid off by the end of June. The basic financial stuff: B) 1 year subsidized medical insurance. C) 1 year COBRA These two items are what stuck out to me. I read three or so pages of this thread and saw a couple of people mention it as well, but these things do not ...
by KlangFool
Sat May 23, 2020 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

At the least, you're in a better position that what you imagined as your worst case retirement plan. https://www.bogleheads.org/forum/viewtopic.php?f=2&t=220234 If keeping up with the latest tech updates is getting harder, how about taking a lesser job just to keep benefits, some cash flow and serv...
by KlangFool
Sat May 23, 2020 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, So, it happened. I will be laid off by the end of June. ... My question is 1) Is it really worthwhile for me to continue working? I worked in the IT area. If I want to stay in this area, I have to study 10 to 20 hours per week just to keep up with the latest technology. 2) If I do contract w...
by KlangFool
Sat May 23, 2020 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Sorry about being laid off. FIREing with $1.4M at 50 feels a little lean to me. 3.5% withdrawal rate is $49K but you do get $15K from your wife's salary. So you're probably fine. If the market tanks again you'll be eating into your EF which will have to get replenished. I dunno, IT is still in dema...
by KlangFool
Sat May 23, 2020 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Klangfool, What is stopping you hanging up your boots & calling it a day? You have great numbers, you have health cover & you are clearly adept at budgeting. I would heed DW's advice & enjoy the time. Thanks for your insightful posts... Really appreciate them. WienerG WienerG, Essentially, there is...
by KlangFool
Sat May 23, 2020 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

KlangFool, the numbers seem good to me -- congrats on your success! Two things tho -- are you sure you can get unemployment insurance while receiving severance pay? And is your wife fine working for the next decade (?) for the health insurance benefits? ThankYouJack, <<Two things tho -- are you sur...
by KlangFool
Sat May 23, 2020 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

KlangFool, the numbers seem good to me -- congrats on your success! Two things tho -- are you sure you can get unemployment insurance while receiving severance pay? And is your wife fine working for the next decade (?) for the health insurance benefits? ThankYouJack, <<Two things tho -- are you sur...
by KlangFool
Sat May 23, 2020 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

KlangFool let me add my "sorry" and my "congratulations" since both seem to fit. I am mostly responding to say thanks for all your posts. I've learned a lot and enjoy your insights on many topics. The only wisdom--if can be called that-that I can add (and I only got through about 2 pages of this th...
by KlangFool
Sat May 23, 2020 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Both of my kids graduated from college and had found jobs. My daughter just graduated a few weeks ago. Mazeltov! Well, there you go. It seems to solely come down to your second question. B) Under what non-financial condition, would you go back to work? If you want to work after June for a non-finan...
by KlangFool
Sat May 23, 2020 10:35 am
Forum: Personal Consumer Issues
Topic: Warning: Virginia State Inspection
Replies: 38
Views: 3683

Re: Warning: Virginia State Inspection

Folks, Be very careful as to where you bring your older car for Virginia State Inspection. If the car mechanic rejects your car inspection and put in all kind of stuff that you need to fix, you have to fix it. You cannot bring your car to some other places and reinspect without fixing the problems....
by KlangFool
Sat May 23, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

This is maybe off topic, but when I first saw this thread I thought about when DH was laid off in the Great Recession. We had a three year old at the time and he liked to loudly announce to strangers, “My dad is laid off.” People often responded, “That’s too bad.” Kiddo was puzzled, “ Laid off” to ...
by KlangFool
Sat May 23, 2020 9:18 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, I am asking two separate questions: A) Under what financial condition, it is rewarding for me to take on part-time project work. At this moment, it looks like anything less than $90 per hour is not worthwhile. B) Under what non-financial condition, would you go back to work? KlangFool Condol...
by KlangFool
Sat May 23, 2020 9:07 am
Forum: Personal Consumer Issues
Topic: Warning: Virginia State Inspection
Replies: 38
Views: 3683

Warning: Virginia State Inspection

Folks, Be very careful as to where you bring your older car for Virginia State Inspection. If the car mechanic rejects your car inspection and put in all kind of stuff that you need to fix, you have to fix it. You cannot bring your car to some other places and reinspect without fixing the problems. ...
by KlangFool
Sat May 23, 2020 8:32 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

In my late 40s, also as an IT engineer, I found myself unemployed at a rare time when finding an IT position was somewhat difficult. After a number of months I found a fledgling software company which needed my skills, but could not pay market rates. I happily accepted a 35% cut to become re-employ...
by KlangFool
Sat May 23, 2020 8:27 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

KlangFool- I've learned and reflected a lot from your posts. Here are three areas to consider: 1. Double-check the cost of COBRA. In the state where I live, when I needed it...COBRA required me to pay my share of my medical costs ($75 per month) plus my employers share of the medical costs ($458). ...
by KlangFool
Sat May 23, 2020 8:19 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, Consolidating my response to all the posts: 1) I have 100K in my home equity that I am not counting. In my neighborhood, this is a small townhouse. So, it is a 400K house. 2) Not likely to move unless we are forced to because my in-law family lives here. 3) I am a technical person. So, I am o...
by KlangFool
Sat May 23, 2020 8:05 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

HueyLD wrote:
Sat May 23, 2020 8:02 am
KF,

What did your wife say about early retirement?

Best of luck to you and yours.
HueyLD,

She had seen me working too hard to keep my job for too long that she said I should take it easy. I don't need a job.

KlangFool
by KlangFool
Sat May 23, 2020 8:00 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

LSLover wrote:
Sat May 23, 2020 7:55 am
It looks like COBRA should be available for at least 18 months...

https://www.dol.gov/sites/dolgov/files/ ... nsumer.pdf
Thanks for the information. I will reconfirm this with the employer.

KlangFool
by KlangFool
Sat May 23, 2020 7:52 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks, I am asking two separate questions: A) Under what financial condition, it is rewarding for me to take on part-time project work. At this moment, it looks like anything less than $90 per hour is not worthwhile. B) Under what non-financial condition, would you go back to work? KlangFool Could ...
by KlangFool
Fri May 22, 2020 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Folks,

I am asking two separate questions:

A) Under what financial condition, it is rewarding for me to take on part-time project work. At this moment, it looks like anything less than $90 per hour is not worthwhile.

B) Under what non-financial condition, would you go back to work?

KlangFool
by KlangFool
Fri May 22, 2020 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

The reason is that you would have to pay of off out of your portfolio. By not paying it off you would have an extra $300K in your portfolio so it would need to be invested so that you have enough to pay off the balance some day as well as the interest and taxes. There are a lot of moving parts that...
by KlangFool
Fri May 22, 2020 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

If you have the skills you think you have, you can find a $60k job easy. In your neck of the woods, $100k jobs should be easy. Your attitude of "I only want to work on billion dollar systems" is silly. You're not that special. Million dollar systems take hard work and can present interesting challe...
by KlangFool
Fri May 22, 2020 10:51 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

Your attitude is terrible. My condolences on the job loss. You are well situated to handle it financially. There's nothing wrong with working an easier job to make some cash. Many jobs in IT have challenges, and hurdles, and accomplishments. You could still contribute. But if you're not willing to ...
by KlangFool
Fri May 22, 2020 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

As for a contracting position, if you find one that meets all of your criteria, work from home, etc, I think you can be flexible on the income. panhead, Somehow, that is not consistent with my experience. It is normally the reverse in my case. If I ask too little, I will not get the job/contract. F...
by KlangFool
Fri May 22, 2020 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 266
Views: 17341

Re: The axe falls and I am prepared. What's next?

I live in a different part of the country but I know every local government around here is starved for IT talent that can actually implement tough projects. It’ll be 9-5 and you have the means to not get pushed around...I know some folks are scared of a competent Bureaucracy but I like it WS1, It i...