Search found 1028 matches

by soccerrules
Mon Feb 24, 2020 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

Thank you all for weighing in with solid advice and suggestions. (I was not online this weekend)
by soccerrules
Fri Feb 21, 2020 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

54/52 ages - neither of us really enjoy our work expect to eventually have $2M+ in nest egg to withdraw from expect to have $50K- $60K/year in SS at age 70/68 expect expenses of $70K a year, but desire $100K expect Paid off House ($60K left on mort.) last kids college taken care of (scholarship/529...
by soccerrules
Fri Feb 21, 2020 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

For myself, though I am probably FI, two factors keep me at my job: 1) Health Care costs: Before 65, costs are double what they will be after 65. I am planning for a higher health care inflation 2% above normal inflation, which is huge for a 30 year retirement. 2) It looks like each extra year I wo...
by soccerrules
Fri Feb 21, 2020 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

Do you have “golden handcuffs” keeping your in current job — eg RSUs, options, etc? If not, I’d start just applying to some jobs in your area or somewhat tangential. You might find an opportunity that excites you. I do not have anything holding me here in that manner I have opened up my LInked In t...
by soccerrules
Fri Feb 21, 2020 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

Stage and Age. Apathy? I'm in leadership in a sector I have been for almost 3 decades. I wrestle with the "stick it out for 2-3 years" --if I were to downshift it would come at a likely sizable drop in income with not much reduction in hours works. Switching careers seems odd/risky at my age, espec...
by soccerrules
Fri Feb 21, 2020 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

54/52 ages - neither of us really enjoy our work So what is stopping you from finding work that you would enjoy? Stage and Age. Apathy? I'm in leadership in a sector I have been for almost 3 decades. I wrestle with the "stick it out for 2-3 years" --if I were to downshift it would come at a likely ...
by soccerrules
Fri Feb 21, 2020 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

I'm with you soccerrules! DW and I will probably call it quits at 51 & 53. We have too much to see and do to work forever. We will be in a similar situation as you. Heath care is the biggie. Might move internationally until we reach medicare age. thanks Fort. I am not sure we are the international ...
by soccerrules
Fri Feb 21, 2020 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

54/52 ages - neither of us really enjoy our work So what is stopping you from finding work that you would enjoy? + 1. Think bold. thanks Pierre. The thought has crossed my mind -- but it then goes to WHAT ? of course I have responded on BH to a poster to "go do x" - much easier to type it for someo...
by soccerrules
Fri Feb 21, 2020 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

Re: We are where we are?

54/52 ages - neither of us really enjoy our work So what is stopping you from finding work that you would enjoy? Stage and Age. Apathy? I'm in leadership in a sector I have been for almost 3 decades. I wrestle with the "stick it out for 2-3 years" --if I were to downshift it would come at a likely ...
by soccerrules
Fri Feb 21, 2020 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: We are where we are?
Replies: 35
Views: 3597

We are where we are?

54/52 ages - neither of us really enjoy our work expect to eventually have $2M+ in nest egg to withdraw from expect to have $50K- $60K/year in SS at age 70/68 expect expenses of $70K a year, but desire $100K expect Paid off House ($60K left on mort.) last kids college taken care of (scholarship/529/...
by soccerrules
Fri Feb 21, 2020 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Another payoff mortgage question
Replies: 16
Views: 1243

Re: Another payoff mortgage question

probably doesn't really matter in the next 12-18 months.

based on what you posted about the rest of your financial picture -- I would pay it off ASAP for 3 reasons 1) Monthly Cash Flow 2) One less "bill" to mess with 3) Psychological benefit of "no debt" - ahhhhhhh
by soccerrules
Fri Feb 21, 2020 10:29 am
Forum: Personal Investments
Topic: Has Vanguard deteriorated?
Replies: 114
Views: 9907

Re: Has Vanguard deteriorated?

I have had a variety of accounts across 401k,IRA,Taxable at Fidelity , Schwab and Vanguard -- all have been fine for my needs.

I think I have simple basic needs --so there is that. My expectations are low :D
by soccerrules
Fri Feb 21, 2020 8:53 am
Forum: Personal Investments
Topic: In a tax advantages account do you pay tax on distributions?
Replies: 4
Views: 388

Re: In a tax advantages account do you pay tax on distributions?

No, as long as the distribution remains in the 401k. Everything becomes subject to taxes once it is withdrawn from the 401k. Thank you, does this include selling it and buying stocks in the same 401k? no you can sell and buy inside of 401k or IRA without any tax or capital gains due. Again as long ...
by soccerrules
Wed Feb 19, 2020 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Paying "early" on mortgage may be unwise
Replies: 298
Views: 29096

Re: Paying "early" on mortgage may be unwise

I am over 50 and think about paying off my mortgage everyday. I would not have said that in my 30's maybe 40's. I am also projecting my retirement expenses and that is one that will be gone, as will college/child expenses in the next 4 years. So i think it is natural to start counting down the payme...
by soccerrules
Tue Feb 18, 2020 2:08 pm
Forum: Personal Investments
Topic: Rookie needs advice on selling
Replies: 9
Views: 879

Re: Rookie needs advice on selling

Thank you lakpr and homestretch for the most invaluable advice! I feel much more confident now. I am working a lower income job in healthcare for the medical insurance, making under $35,000. I will stay in that job but cut back on hours until I collect social security at 66 1/2. Again, I so appreci...
by soccerrules
Tue Feb 18, 2020 9:21 am
Forum: Personal Finance (Not Investing)
Topic: How does everyone visualize their finances?
Replies: 48
Views: 3467

Re: How does everyone visualize their finances?

I have a very simple spreadsheet. Each row is an account (taxable, his Roth, her Roth, etc.) each column is an asset class--US stocks, international stocks, "fixed income", which is mostly total bond index funds in tax-deferred. Every January, or maybe I skip a year if I have a newborn or it's a ba...
by soccerrules
Mon Feb 17, 2020 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: How much term life insurance do I need?
Replies: 34
Views: 2889

Re: How much term life insurance do I need?

$1 million or more,15 or 20 years. I want my wife to not have to work if I die. +1 I got a $1M 20 year portable level term that will take me age 72. Here was my reasoning. 1) Relatively cheap @$2K a year. 2) Don't want wife to have to work if i go 3) My kids are older (youngest 18) 4) I have option...
by soccerrules
Fri Feb 14, 2020 9:29 am
Forum: Personal Finance (Not Investing)
Topic: how to deal with side work expenses
Replies: 3
Views: 289

Re: how to deal with side work expenses

I would consult with a CPA for best results
by soccerrules
Thu Feb 06, 2020 7:14 pm
Forum: Personal Investments
Topic: Suppose you inherited 150K (but) only have two choices*
Replies: 30
Views: 1988

Re: Suppose you inherited 150K (but) only have two choices*

so my options are
1) $150K completely pay off mortgage
or
2) 100% Stock portfolio (that is how I read this option)

Age matters.
Age Now (50+): I would pay off my mortgage.
Age 25-30: 100% Stocks
by soccerrules
Thu Feb 06, 2020 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Couples w/ kids: What is/was the most expensive time period of your life?
Replies: 145
Views: 12192

Re: Couples w/ kids: What is/was the most expensive time period of your life?

Yes, I could have said you're not going to be in jazz or marching band or speech or Boy Scouts unless you pay for it all yourself and saved a ton of money. He probably would have been perfectly happy to just sit in his room and play video games all day at no cost to me. But, it was important to me ...
by soccerrules
Thu Feb 06, 2020 9:13 am
Forum: Investing - Theory, News & General
Topic: How much will Target date vs 3 fund make a difference in the long run?
Replies: 119
Views: 7692

Re: How much will Target date vs 3 fund make a difference in the long run?

snailderby wrote:
Thu Feb 06, 2020 9:01 am
..... The most important thing at your age is your savings rate.
^^^ This! and save more if you can- you will not miss it. Your 50+ year old self will be thankful
by soccerrules
Wed Feb 05, 2020 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Couples w/ kids: What is/was the most expensive time period of your life?
Replies: 145
Views: 12192

Re: Couples w/ kids: What is/was the most expensive time period of your life?

cshell2 wrote:
Wed Feb 05, 2020 8:47 am
MillennialFinance19 wrote:
Wed Feb 05, 2020 8:45 am
We’re in a LCOL area and spend 9k per kid annually on day care. I can’t imagine my expenses increasing enough to erase a $1500 per month surplus of funds.
LOL

Just you wait. :twisted:
#College
by soccerrules
Wed Feb 05, 2020 9:06 am
Forum: Personal Finance (Not Investing)
Topic: Couples w/ kids: What is/was the most expensive time period of your life?
Replies: 145
Views: 12192

Re: Couples w/ kids: What is/was the most expensive time period of your life?

14-22 if you had to select a range. (to note, we did not have day care expenses)
Braces
Eat More
Select Sports, Band,Theater,Dance, Cheer - you pick
Clothing
Car
College

another reason to save as much as possible when you are younger to allow compound interest to do it's thing
by soccerrules
Mon Feb 03, 2020 1:33 pm
Forum: Personal Investments
Topic: Asset Allocations Recommendations.
Replies: 8
Views: 1377

Re: Asset Allocations Recommendations.

OP-
Texas does not have a state tax ?
did you mean something else with that notation?

Tax Rate: 6.25% Federal, 22% State
by soccerrules
Thu Jan 30, 2020 3:23 pm
Forum: Personal Investments
Topic: Last gasp of the bull
Replies: 118
Views: 18188

Re: Last gasp of the bull

Olemiss540 wrote:
Wed Jan 22, 2020 6:23 pm

Who was it that said "more money has been lost waiting for a market crash than in the market crash itself"?
Mr/Mrs Google says Peter Lynch
by soccerrules
Wed Jan 29, 2020 2:09 pm
Forum: Personal Investments
Topic: Down Payment Strategy for Primary Home
Replies: 15
Views: 760

Re: Down Payment Strategy for Primary Home

Sell your aft-tax 135k now. It is still a paper value until you sell. Next year who know the 135k will become what. sell all of them and put in a CD. Done. good plan here. You could see if you have any losses to sell to balance the gains. Y ou could also look to sell come now and then Jan 2021 to s...
by soccerrules
Wed Jan 29, 2020 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50959

Re: $3 million the new rule of thumb?

Utter hogwash. My wife and I became F.I. at $650k in savings at age 50 and will need need negative savings once SS kicks in. Interesting. May I ask what your expenses are? 4% of 650k is $26k per year, which is near-poverty level in the U.S. The 4% "rule" is for a 30 year retirement and only gives i...
by soccerrules
Wed Jan 29, 2020 1:36 pm
Forum: Personal Investments
Topic: Down Payment Strategy for Primary Home
Replies: 15
Views: 760

Re: Down Payment Strategy for Primary Home

Sell your aft-tax 135k now. It is still a paper value until you sell. Next year who know the 135k will become what. sell all of them and put in a CD. Done. good plan here. You could see if you have any losses to sell to balance the gains. You could also look to sell come now and then Jan 2021 to sp...
by soccerrules
Tue Jan 14, 2020 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to go about my brother's finances
Replies: 28
Views: 2978

Re: Best way to go about my brother's finances

Tough spot for your brother and your parents. I'm sorry. I think many posters have made great suggestions-- none are as easy as switching mutual funds or leaving your FA-- THIS is a tough life situation. 1) 2nd job is vital right now 2) Move to LCOL state, may be in the cards 3) Consider moving to a...
by soccerrules
Tue Jan 14, 2020 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Newly married! combining investing philosophies
Replies: 24
Views: 2624

Re: Newly married! combining investing philosophies

Ask her if she would be open about the combined investment strategy. As someone eluded to-- she may be like me, I didn't know what I didn't know. I would ask her if she would be willing to read "Common Sense Investing Guide" by John Bogle -- quick and easy. What hit me was the ER's and the 1% Fee. F...
by soccerrules
Mon Jan 13, 2020 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Can we retire?
Replies: 120
Views: 11378

Re: Can we retire?

- We both should be able to collect near maximum SS benefit once we get there. Can we retire? Yes you can retire. Congrats Others have mentioned Healthcare and you have 15 years to navigate prior to Medicare. i would check your SS calculations. If you are using the SS site and their estimates it pr...
by soccerrules
Fri Jan 10, 2020 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: selling taxable stock: 401k or Roth investing smarter?
Replies: 7
Views: 394

Re: selling taxable stock: 401k or Roth investing smarter?

they do match, up to 7%. i currently am not quite at that match due to various reasons. i have good index funds with a good, low cost 401k admin. (fidelity) What is gain on stock ? --(taxes owed?) It might be best to keep it. If the CG impact is limited then I would sell stock, then increase 401k t...
by soccerrules
Thu Jan 09, 2020 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Retiring with under $1M
Replies: 44
Views: 5891

Re: Retiring with under $1M

knowing your expenses would help to provide additional input. It appears your mortage may be a large part of your monthly expense. if you only owe $45K, pay it off from your savings account. Even if you are earning 2% there, paying off a 4% note is a win and then you have $3000/mo less on expenses. ...
by soccerrules
Thu Jan 09, 2020 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Parents sell children their home
Replies: 12
Views: 1582

Re: Parents sell children their home

Thank you all-- as usual great input, advice and questions.
FWIW They reside in Texas. Both children are 20 minutes away.

As many have commented in other similar posts, trying to balance the sandwich impact of aging parents, raising a family and preparing for our own retirement.
by soccerrules
Thu Jan 09, 2020 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Parents sell children their home
Replies: 12
Views: 1582

Parents sell children their home

My parents are in a precarious situation. Ages - early 80's Father has Alzheimers. Is at home and being cared for by wife. He is active, can communicate some to direct questions, but rarely speaks unless spoken too. He attends group activity meetings 3 times a week for 3-4 hours a day. Mom- In OK he...
by soccerrules
Wed Jan 08, 2020 5:10 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 1492
Views: 198660

Re: Net Worth Milestone

Congrats. I had no idea where my NW was at age 36 -- good for you.

Trust the Math, Stay the Course.
by soccerrules
Wed Jan 08, 2020 2:00 pm
Forum: Investing - Theory, News & General
Topic: Advisor laying out a convincing argument for active management?
Replies: 43
Views: 3126

Re: Advisor laying out a convincing argument for active management?

I looked up VSEAX on Morningstar with an ER of 1.25% and then probably a 1% AUM. So the fund will need to perform at least 2.25% ahead of the benchmark to break even, yes ?
by soccerrules
Tue Jan 07, 2020 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: College Savings Strategy
Replies: 11
Views: 1453

Re: College Savings Strategy

my thoughts and experiences. I will say I am in the camp of wanting to pay for college and not having the kids take loans. I want them to be debt free to start adulthood. Not everyone agree's with that, and it's OK. We also feel it is important for our kids to go to college and have been helping edu...
by soccerrules
Tue Jan 07, 2020 1:35 pm
Forum: Personal Investments
Topic: retirement investing question
Replies: 19
Views: 1888

Re: retirement investing question

the 1400 social security would be part of the 60k income so essentially looking for 43200 investment income annually. This is much more doable, it drops your projected withdrawal rate to 4.3%. A 60:40 portfolio should be able to beat this easily, although it is still a tad over the "sustainable wit...
by soccerrules
Tue Jan 07, 2020 10:25 am
Forum: Personal Investments
Topic: retirement investing question
Replies: 19
Views: 1888

Re: retirement investing question

Not really enough information. Do you have Pension? Social Security? Does the $60K need to come from the $1,060,000 ? (a dozen more questions) I will go with you need to pull $60K from the $1,060,000. If you see no growth in the portfolio you can draw down $60K in 17.6 years to age 90. I would surmi...
by soccerrules
Fri Jan 03, 2020 3:20 pm
Forum: Investing - Theory, News & General
Topic: Now is a good time to start tracking your net worth.
Replies: 123
Views: 11530

Re: Now is a good time to start tracking your net worth.

To me Net Worth is one sign of your financial health. I choose not to track it closely, but that's me. I do not use Net Worth as a vital part of when i can retire. I use my liquid assets, SS projection and spending to determine if I am ready. Having a paid off house is part of my consideration and i...
by soccerrules
Fri Jan 03, 2020 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: When to Collect SS
Replies: 55
Views: 3173

Re: When to Collect SS

In my mind, it's the total that matters. How it's spread over time is offset by how I withdraw from my portfolio. While there is a small argument that my heirs would prefer the maximum Social Security total , that's not true for me. your heirs other than spouse will not get your SS benefit unless y...
by soccerrules
Fri Jan 03, 2020 12:44 pm
Forum: Investing - Theory, News & General
Topic: Why has the economy not crashed yet?
Replies: 36
Views: 2631

Re: Why has the economy not crashed yet?

I put hot things in a thermos, they stay hot. I put cold things in a thermos, they stay cold-- how do it know?
by soccerrules
Fri Jan 03, 2020 11:29 am
Forum: Investing - Theory, News & General
Topic: Now is a good time to start tracking your net worth.
Replies: 123
Views: 11530

Re: Now is a good time to start tracking your net worth.

Why do I need to know my net worth? Why should I care? +1 Mine is positive. I can in a matter of a few seconds know what my approximate NW is by doing the math in my head. (Investments - mortgage + House & car values). My back of the napkin calculation is probably off +/- 3-4 %. But how cares? I am...
by soccerrules
Thu Jan 02, 2020 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: When can I quit on rule 55?
Replies: 24
Views: 3516

Re: When can I quit on rule 55?

Separation from Service the employee separates from service during or after the year the employee reaches age 55 (age 50 for public safety employees of a state, or political subdivision of a state, in a governmental defined benefit plan)** yes no 72(t)(2)(A)(v), 72(t)(10) https://www.irs.gov/retire...
by soccerrules
Thu Jan 02, 2020 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Records retention
Replies: 22
Views: 2160

Re: Records retention

for me. I have bankers boxes for 7 years of receipts. I rotate one each year and shred the oldest receipts. I also rotate my tax return folder every 7 years. I always keep copy of the tax return, w-2's and typically last pay stub.( the rest is shredded) I would also keep letters/notices of paid off ...
by soccerrules
Thu Jan 02, 2020 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: When can I quit on rule 55?
Replies: 24
Views: 3516

Re: When can I quit on rule 55?

I am sure someone will provide a link to an IRS document on this, sorry I am not the one.

I did read a post recently that indicated -- "in the year you turn 55"
by soccerrules
Thu Jan 02, 2020 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing? Just turned 30
Replies: 12
Views: 1867

Re: How are we doing? Just turned 30

Looks like a good start. As long as you are comfortable with your AA, keep moving. Student Loan question: It looks like if she keeps paying the $650/m its about $45K at the time of forgiveness. You could just do that, if it is a guaranteed forgiveness. (i have no student debt experience, sorry) I wo...
by soccerrules
Thu Jan 02, 2020 5:14 pm
Forum: Personal Investments
Topic: Another Newbie Looking for Advice
Replies: 11
Views: 502

Re: Another Newbie Looking for Advice

Thanks for the feedback and kind words. I do not have a Roth IRA currently, but I will start one this year. My 401k is with Fidelity, which seems as good a place as any to have my Roth IRA as well. Would you suggest the same 70% domestic stock/20% foreign stock/10% bond investment strategy for the ...
by soccerrules
Thu Jan 02, 2020 3:31 pm
Forum: Investing - Theory, News & General
Topic: Going from 24 to 26 pay cycles [Impact on 401(k) contributions?]
Replies: 27
Views: 1510

Re: Going from 24 to 26 pay cycles

I would adjust to the 2 paychecks a month and live off of that amount. Then in 2 of the months (Jan and July for me) this year you will have an extra check-- save that amount for Roth, 529, Car fund, vacation --whatever.