Search found 1375 matches

by soccerrules
Wed Feb 28, 2024 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE-ing In, Quitting versus Getting FIRE-d - Talking to Boss Tomorrow
Replies: 148
Views: 22531

Re: FIRE-ing In, Quitting versus Getting FIRE-d - Talking to Boss Tomorrow

... So here I am with nothing but money and time. ... im in my late 50s and the reality of "limited time" left, has me retiring in the next few months. Listening to a podcast it was described as a 3 legged stool with Finances, Health and Time as the legs. For many and likely most BHr's we will run out of health and time before we run out of finances. ... Splitting the age difference (approximately) between Meg77 and soccerrules, and also having essentially nothing besides "money and time", a different perspective: life is actually pretty long. One of the most gapingly daunting responsibilities is how to productively fill it, so that later, when we're less mentally or physically fit, we feel no regrets. Thus a reason to ...
by soccerrules
Wed Feb 28, 2024 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE-ing In, Quitting versus Getting FIRE-d - Talking to Boss Tomorrow
Replies: 148
Views: 22531

Re: FIRE-ing In, Quitting versus Getting FIRE-d - Talking to Boss Tomorrow

Glad it went well! You may want to change your user name and delete identifiable elements from your recap or risk being identified at work and accused of sharing confidential info. I trust your name isn’t Meg and you weren’t born in 1977? Do you have such enormous assets, spousal settlement or parental help that you can afford to be so devil may care about losing a $300k/year job in a competitive field with a friendly boss during a divorce? No offense but I’d have considered myself very fortunate with bosses like her. Thanks! And no that's not my name (nor is it Megan or similar) and that's not my birth year. My net worth post divorce is about $4.5MM, $600K of which is home equity (and PS I came in with more and left with more; we made abo...
by soccerrules
Mon Feb 26, 2024 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Do your intra-company yearly raises keep with inflation?
Replies: 60
Views: 6048

Re: Do your intra-company yearly raises keep with inflation?

Raises are not handed out for Sales and Sales Leadership positions at our company. You want a raise - you EARN it by hitting/exceeding ops plan and/or by earned promotion.
Outside of salary increases with promotions -- increases in compensation are tied to over performance to plan and paid 1x a year as part of Annual Variable Compensation and potential RSUs/PSUs that vest over the next 3 years.
by soccerrules
Mon Feb 26, 2024 7:59 am
Forum: Personal Investments
Topic: Accounting for fees when using the 4% rule
Replies: 19
Views: 2135

Re: Accounting for fees when using the 4% rule

Fat Tails wrote: Sat Feb 24, 2024 10:35 pm Yes, you have caught on to what many retirees that pay a 1% AUM fee havent figured out. They are giving 25% of their safe distribution income to the financial advisor every year.

:beer
This one caught me square between the eyes about 8 years ago and was the main reason I decided to DIY.
by soccerrules
Fri Feb 23, 2024 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Handling Inheritance In A Marriage
Replies: 49
Views: 5495

Re: Handling Inheritance In A Marriage

cadreamer2015 wrote: Fri Feb 23, 2024 1:39 pm If you and your wife have more than enough for the rest of your life you might consider disclaiming the anticipated inheritance when it happens, in which case it might (depending on the terms of your parents' estate plans) go directly to your daughter. As others have written, it might be wise for any eventual inheritance to go to you or your daughter in trust rather than outright. This is something to discuss with your mother(s) and probably their estate planning attorneys.
+1 to explore this conversation with wife. It is an emotional one, so be willing to be open handed. I know of a younger couple preparing to do this for their kids.
by soccerrules
Fri Feb 23, 2024 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my car loan now?
Replies: 11
Views: 1083

Re: Should I pay off my car loan now?

CoffeeNTea wrote: Fri Feb 23, 2024 10:35 am Recently faced similar choice, decided the saving from not paying off low interest car loan is not worth it. Just paid off the loan and won't deal with another account.
+1
at this stage in the game for me- simplicity wins. Less Payments, Less Accounts the better.
by soccerrules
Tue Feb 20, 2024 8:10 am
Forum: Personal Investments
Topic: Let me retire! Please?
Replies: 62
Views: 8073

Re: Let me retire! Please?

britcoal wrote: Mon Feb 19, 2024 1:24 pm
suemarkp wrote: Mon Feb 19, 2024 12:07 pm You may not be able to retire if all your money is in an IRA and 401K with no rule of 55.
There is always Rule 72(t) which allows for withdrawal before age 59.5 with no penalties.
This is an option albeit not a very good option based on the 72t restrictions. I did recently listen to a podcast where they talked about splitting your IRA into to separate IRA's at which you designate 1 with a set amount to execute the 72t, thus leaving the rest of the IRA monies unencumbered by the 72t rules. I believe the 72t was the last option suggested for withdrawing prior to age 59.5.
by soccerrules
Tue Feb 13, 2024 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: For 6.5K/mo and 35 yrs. how many M does it take to retire?
Replies: 25
Views: 2579

Re: For 6.5K/mo and 35 yrs. how many M does it take to retire?

I would just use 4%, invested between 70/30 to 60/40. So, about $2M, plus whatever you calculate you need for taxes, depending on how you are holding the investments. I agree that a rough estimate is using the 4% "rule" or 25x your expenses (taxes included). That would be about $2M in todays dollars. If you believe inflation will be 3% a year over the next 35 years, --you would then need 2x that number in future dollars - $4M is a decent target. You can reassess your spending/wants/progression in 10 years and 10 after that and then 10 more. The 4% study takes inflation into account. Only at the point of starting withdrawals. The OP is asking for the dollar amount needed in 35 years. I was stating OP would need 2x what would be ne...
by soccerrules
Tue Feb 13, 2024 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: For 6.5K/mo and 35 yrs. how many M does it take to retire?
Replies: 25
Views: 2579

Re: For 6.5K/mo and 35 yrs. how many M does it take to retire?

I would just use 4%, invested between 70/30 to 60/40. So, about $2M, plus whatever you calculate you need for taxes, depending on how you are holding the investments. I agree that a rough estimate is using the 4% "rule" or 25x your expenses (taxes included). That would be about $2M in todays dollars. If you believe inflation will be 3% a year over the next 35 years, --you would then need 2x that number in future dollars - $4M is a decent target. You can reassess your spending/wants/progression in 10 years and 10 after that and then 10 more. The 4% study takes inflation into account. Only at the point of starting withdrawals. The OP is asking for the dollar amount needed in 35 years. I was stating OP would need 2x what would be ne...
by soccerrules
Tue Feb 13, 2024 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: For 6.5K/mo and 35 yrs. how many M does it take to retire?
Replies: 25
Views: 2579

Re: For 6.5K/mo and 35 yrs. how many M does it take to retire?

sailaway wrote: Tue Feb 13, 2024 1:32 pm I would just use 4%, invested between 70/30 to 60/40. So, about $2M, plus whatever you calculate you need for taxes, depending on how you are holding the investments.
I agree that a rough estimate is using the 4% "rule" or 25x your expenses (taxes included). That would be about $2M in todays dollars. If you believe inflation will be 3% a year over the next 35 years, --you would then need 2x that number in future dollars - $4M is a decent target.

You can reassess your spending/wants/progression in 10 years and 10 after that and then 10 more.
by soccerrules
Tue Feb 13, 2024 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Have you ever replaced a perfectly fine car just because?
Replies: 111
Views: 8483

Re: Have you ever replaced a perfectly fine car just because?

I often find myself wanting to change my perfectly fine Subaru Forester for a gently used Lexus LX 570. I considered this exact choice when I was buying the Forester but couldn't stomach the $65k+ price tag of LX when I can buy (and did buy!) a Forester half that. Yet I can't stop thinking about it. I also fantasize about taking the LX, with a teardrop camper, on long road trip through the Rockies. We can afford it (income 500+) but I consider that as a really bad choice. Wouldn't you?? The mental cycles we (some Bogleheads, myself included) spend on things like this are incalculable... Sure, a less expensive car will get you from point A to point B, but if you'd prefer to make the journey in a Lexus and can afford it, then I think it's fi...
by soccerrules
Tue Feb 13, 2024 9:14 am
Forum: Personal Investments
Topic: Should I quit or slog through
Replies: 62
Views: 7574

Re: Should I quit or slog through

Id retire yesterday. $5M and spending $120K is 2.4% and that does not include @ $60-65K in SS combined. I also need to add health insurance to that 10K, say about $3.5K, until we're 65, and I also need to subtract future taxes from the $5M (the $10K does not include taxes). I think the numbers are close but can probably work. FWIW I will retire in a few months at age 59 and will likely have about $2M less than you, slightly higher SS but spending maybe 15% more. A conservative 3% return has us dying with over $1M to leave to kids. I am in the same boat as you as I loath my job after 30 years in the industry and don't want to waste any more of my "good" years working. Life is not promised and I will not be as active as I am now to...
by soccerrules
Tue Feb 13, 2024 8:55 am
Forum: Personal Investments
Topic: Should I quit or slog through
Replies: 62
Views: 7574

Re: Should I quit or slog through

Id retire yesterday.

$5M and spending $120K is 2.4% and that does not include @ $60-65K in SS combined.
by soccerrules
Fri Feb 02, 2024 1:31 pm
Forum: Personal Investments
Topic: Financial Life Coach?
Replies: 8
Views: 1350

Re: Financial Life Coach?

OP - sorry this is causing some stress for you. I do not have any direct experience to your situation but I try to personalize it, as if I was in your shoes-- what would I do. Some of my comments may come across harsh or direct. I do not mean it that way just stating information and not worrying about being fluffy with my words. Here are some thoughts and possible suggestions 1) I am not sure paying someone is going to give you the "way out" --I would connect with any Senior sources for possible free support to talk through your scenario. You are likely to get some good ideas for comments here from others. 2) I would look to reduce any and all non-essential expenses (eating out, streaming services,2nd car maybe, expensive foods no...
by soccerrules
Fri Feb 02, 2024 10:51 am
Forum: Personal Investments
Topic: Portfolio Assessment - Mistake with Shifting to More Conservative AA?
Replies: 17
Views: 1209

Re: Portfolio Assessment - Mistake with Shifting to More Conservative AA?

AA is a personal thing. ONLY you can assess your need/desire/willingness to take on risk. Investing has risks. Do you have an Investment Plan/Statement--that tells you your plan? -- you might need one so you don't second guess yourself, when the market is up or down. Timing the market is usually not a winning game. You might get lucky once or twice but you might not. If someone jumps out to time the market, when do you get back in? That's timing it twice. Bonds can be up and down-- the general consensus on Bonds is that they "smooth out the bumpy ride of Stocks" in your portfolio --so having 10%, 20% or another number will do that for you the majority of the time. If you have money to invest in a Taxable Brokerage account--invest ...
by soccerrules
Fri Feb 02, 2024 9:16 am
Forum: Investing - Theory, News & General
Topic: Financial Reportage
Replies: 9
Views: 806

Re: Financial Reportage

jebmke wrote: Fri Feb 02, 2024 9:13 am
soccerrules wrote: Fri Feb 02, 2024 9:11 am Nobody knows anything, about anything.

Noise.

We'd be better off not reading or tuning into 99% of the drivel.
I listen in on BB radio if I'm driving into town in the morning. Often they mix in some good sports discussion. The rest is entertaining at best, laughable. On a 10 minute drive I can often hear more than one view.
Fair. I do like our "sports" talk radio that has been around for about 30 years. I occasionally tune into AM radio on a Saturday to the retirement and financial advertishows. As you said - entertaining.
by soccerrules
Fri Feb 02, 2024 9:11 am
Forum: Investing - Theory, News & General
Topic: Financial Reportage
Replies: 9
Views: 806

Re: Financial Reportage

Nobody knows anything, about anything.

Noise.

We'd be better off not reading or tuning into 99% of the drivel.
by soccerrules
Fri Feb 02, 2024 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Dropping term life?
Replies: 46
Views: 4228

Re: Dropping term life?

I dropped mine at age 55/56 when I felt I had enough financial means, house was paid off, college pretty well covered for last kid, 2 of 3 kids launched.

I don't see any issue with you keeping it for the last 7 years, assuming it is level premium.
by soccerrules
Wed Jan 31, 2024 10:17 am
Forum: Personal Investments
Topic: Introduction - Hello!!
Replies: 9
Views: 1245

Re: Introduction - Hello!!

Welcome to the forum! I recommend that you take your time while you get educated. Once you have a plan let the forum vet your plan. Then and only then make the changes. Obviously ask your questions along your journey. The Wiki is full of great information. Make good use of it. Read threads that look interesting. You will pick up a lot of things that you did not even realize existed. This will also give you a feel for the contributors that resonate with you. +1 Take the next 30-60 days to become more educated. Then come back and read the feedback, it is likely to make more sense as to what/why you are making the changes or moves. Personal Finance is 98% math (simple) and then other 100% Behavioral (hard). :happy The math is making more mone...
by soccerrules
Wed Jan 31, 2024 9:56 am
Forum: Personal Investments
Topic: HSA Investment Question
Replies: 22
Views: 2531

Re: HSA Investment Question

Because of the triple tax advantage nature of the HSA, I want to have 100% Stock position there. (like a Roth Account)

My HSA only requires $1000 remain in cash. Everything else is automatically invested every paycheck into whatever Stock Index fund is aligned closest with the S&P 500 or a Total Market Stock fund.

I keep all reasonable medical/RX expenses to use in the future when I want to withdrawal the funds. (i do not keep a random $2.12 RX receipt)
by soccerrules
Wed Jan 31, 2024 8:39 am
Forum: Personal Investments
Topic: Question about Vanguard's Settlement Fund ( VMFXX)
Replies: 6
Views: 809

Re: Question about Vanguard's Settlement Fund ( VMFXX)

fvaldes wrote: Wed Jan 31, 2024 8:37 am Hello.

So I transferred 100k from TD to my Vanguard account. The money is there already but it doesnt show under Vanguard Federal Money Market Fund ( Settlement Fund ).... it only shows under Available Balance, Available Fund to Trade and Fund Available to Withdraw. I want to be 100% sure that the money is invested in VMFXX and gets its yield. I called them on the phone and they told me thats where it is, even if it doesnt show the amount in that line on the web site.

Is this accurate? Thanks in advance.
Yes --it takes a day or 2 for it to settle the transfer/deposit.
by soccerrules
Wed Jan 31, 2024 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Stuck in One More Year Syndrome
Replies: 20
Views: 3573

Re: Stuck in One More Year Syndrome

Congrats on amassing a really nice nest egg in what appears to be about 20 years. A couple of things to consider to make sure you thought about these. 1) Inflation. You are likely going to have a 40-50 year retirement. 2) Young kids become teenagers and are more expensive, especially if they have expensive interests (travel sports, gymnastics, cheer etc) Account for cars, car insurance, orthodontia. 3) I would add 10-15% to your projected base living expenses 4) Lumpy expenses like roof, cars, AC systems --not likely to derail your plan but I would at minimum put $30-35K every 7-10 years for a car. 5) Healthcare -- do some research there 6) Taxes -- yes make sure this is factored 7) I would make sure you fully understand any workplace equit...
by soccerrules
Tue Jan 30, 2024 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Teacher early retirement insurance considerations
Replies: 56
Views: 6909

Re: Teacher early retirement insurance considerations

Chardo wrote: Mon Jan 23, 2023 2:20 pm Part time jobs rarely come with health insurance.
While probably a true statement--there are more and more companies offering benefits to part time employees. I would think this might increase over the next 10-15 years.
by soccerrules
Tue Jan 30, 2024 10:49 am
Forum: Personal Finance (Not Investing)
Topic: how do you like living in Columbus, Ohio (and practicing as a hospitalist)
Replies: 40
Views: 4816

Re: how do you like living in Columbus, Ohio (and practicing as a hospitalist)

bernoulli wrote: Sat Jan 27, 2024 6:02 pm Considering a few hospitalist positions in Columbus, Ohio, any colleagues out there to share what is like to practice as a hospitalist in Ohio? General information about living in or around Columbus is welcome and appreciated as well, e.g., housing market, weather, if running/walking trails are abundant, etc. Thanks for any input.
You could take a Locums assignment there and check it out for yourself!! :happy
by soccerrules
Tue Jan 30, 2024 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Cost Basis Method for selling RSUs
Replies: 10
Views: 1296

Re: Cost Basis Method for selling RSUs

The common advice is to sell as soon as they are vested and released. I think this is especially true if you feel overexposed by your financial connection to your company due to salary, bonuses, benefits, allowances, RSUs.

I would go back and read your plan documents on the RSUs -- we have PSU (Performance) as well. What I found out is that if i retire from the company after age 55 and have 15+ years of combined service years -- the unvested RSU/PSUs will continue to vest along the scheduled timeframes as long as 1) i stay retired and 2) I retire after 6 months from the grant date of the RSU/PSU, which only applies to the most recent RSU/PSU yearly grants. Nice surprise.
by soccerrules
Tue Jan 30, 2024 10:19 am
Forum: Personal Investments
Topic: Portfolio Review 7 years prior to retiring
Replies: 9
Views: 1676

Re: Portfolio Review 7 years prior to retiring

For tax efficiency, Can you put the CDs and HYSA/Money Market inside the IRA and switch the stock index funds into the taxable account. For clarification, switching the $ total of the CD etc into the Traditional IRA and buying equitable $amount of Index Fund into our Brokerage account, right? I apologize, we are both new into this and had to learn everything from scratch at our age. Treat me like I'm a 5yo and I will not take offense. Yes that is the suggestion. You can take the HYSA assuming ($100K) in your Taxable account and buy Stock Index and then at the same time sell $100K of stock inside your Trad IRA and either keep in HYSA/MMF there , or buy CDS. (you would want to wait on the CDs in your Taxable brokerage to mature to do the sam...
by soccerrules
Tue Jan 30, 2024 10:00 am
Forum: Investing - Theory, News & General
Topic: How high is too high for 401k Fees?
Replies: 32
Views: 3258

Re: How high is too high for 401k Fees?

If you are getting a match of 25% or greater --i wouldn't really care about the fees.

If I was in my 50's and working less than 10 year --wouldn't care either.

If my 401k was less than 30-40% or my total portfolio-- I wouldn't care too much


I would however lobby with HR and Exec Leadership to offer lower ER fund options and make sure they are aware the costs are higher than necessary.
by soccerrules
Tue Jan 30, 2024 8:02 am
Forum: Personal Investments
Topic: Is there any way to track asset allocation for target date funds in google sheets?
Replies: 3
Views: 423

Re: Is there any way to track asset allocation for target date funds in google sheets?

Thoughts on switching to holding the individual underlying funds separately which enables you to see the AA. This assumes they (or very similar funds) are available to you and changing would not create any tax consequences. Most hold a TD fund for the easy of the glide path over time to reach an AA near retirement that meets their need/willingness to take on the risk. Another Option is moving to only 2 TD Funds "years" this would allow you to dial in the AA easier. EX: Maybe a 2030 for higher Bonds portion and a 2060 for a higher Stock but the combo gets you to 80/20 or 70/30. This again requires the dollars to correspond to get your overall portfolio AA where you want it. Another vote for buying the individual funds. Once a year ...
by soccerrules
Fri Jan 26, 2024 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: what should i prioritize?
Replies: 33
Views: 2668

Re: what should i prioritize?

I would make sure your EF is earning at least 4% in a HYSA or MMF I would reduce your 401k enough to be able to knock out your $16.5K of student loan and CC, but BOTH need to be gone by end of year or as fast as possible. Then you can go back to increasing your 401K and building up your EF to 9-12 months if that makes you sleep better. You can also consider being more frugal and throwing more money to debts and then EF faster. I read some more of your posts -- as soon as you can get to increasing to max your 401k --you are reducing your taxable income (whether you claim your dependent or not). You have the right mindset --keep it going. Get the debt gone, your EF where you are comfy and I think you will feel a lot better about your financia...
by soccerrules
Fri Jan 26, 2024 10:12 pm
Forum: Personal Investments
Topic: Portfolio Review - 30 year old - practiced saver, new investor
Replies: 5
Views: 1025

Re: Portfolio Review - 30 year old - practiced saver, new investor

Welcome to the Forum. Great start so far, keep it going. General suggestions 1) Keep reading and learning (Books: Simple Path to Wealth and The Common Sense Investing Guide) 2) Simplistic investing and Low cost fees are important 3) Always max out the tax deferred and tax free space each year especially early in your career 4) Read up on optimal placement of stocks/bonds in your different accounts (Tax Deferred, Tax Free, Taxable) ie NO BONDS in Roth accounts 5) Agree with others open a Taxable Brokerage Account 6) Think of all your accounts as 1 BIG account, if you want a 90/10 portfolio--then that is 90/10 in total -- this is where the best placement of Stocks and Bonds as well as reducing your portfolio to 2-3 funds makes it easier. You ...
by soccerrules
Fri Jan 26, 2024 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: 20-30X income, is that the "retirement rut"?
Replies: 90
Views: 13503

Re: 20-30X income, is that the "retirement rut"?

$2M is NW doesn't tell the whole story. $1M investments and $1M house -- that is $40K to live off of based on 4% of $1M.

I would keep going at least 5 more years and see where you are then. You could downshift work and maybe some of savings and work a little longer. Or something in between.

If housing is a decent part of your NW, you could relocate to Lower COL or downsize and free up some of that NW into dollars to live on

It also depends on your desired retirement spending, healthcare until 65 etc.
by soccerrules
Wed Jan 24, 2024 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Just got laid off
Replies: 120
Views: 15989

Re: Just got fired

Sorry this happened. I've been "fired", "RIF'd", "Let go" several times. It never feels good-- it sucks. There is a difference in being fired for cause and then RIF'd or downsized due to company restructure or financial reasons -- this could matter if you decide to pursue anything legally. (not suggesting it) Take a deep breath -- you are OK and it will be OK. I would take 1-2 days and clear your head as best as you can. Then I would do the following 1) Reduce any and all expenses that are not absolutely essential to housing/food/transportation. (No eating out etc) 2) Get your resume updated and maybe reviewed by someone 3) Network with anyone and everyone you know (friends, business contacts, acquaintances) I ...
by soccerrules
Wed Jan 24, 2024 9:14 am
Forum: Investing - Theory, News & General
Topic: NewRetirement output seems counter to my own math
Replies: 35
Views: 3327

Re: NewRetirement output seems counter to my own math

i have not used that program before, so I'm no help with potential "misses".

If you have used other programs and have received better than 80% success, than I would feel comfortable with your numbers and plan. And as you mentioned you are projecting a 3.3% SWR against the 4% Rule and it appears you should be in good shape.

This assumes you have accounted for ALL expenses and/or added a 10-20% buffer on your expenses base expenses.

Enjoy Retirement!
by soccerrules
Wed Jan 24, 2024 9:01 am
Forum: Personal Investments
Topic: Need a Rough Family Spending Figure: Basic Calculation?
Replies: 21
Views: 1199

Re: Need a Rough Family Spending Figure: Basic Calculation?

yes, i guess.

I would look at Total Net Pay from all sources minus any additional savings from the net pay amount and use that number.

This assumes:
1) You are not carrying and increasing a credit card balance forward
2) or are not using funds that had already been saved from prior years
3) or spending interest/dividends from investments

I personally would look at my bank app and credit card and access my spending from there. Or connect all of your accounts to a program like Personal Capital, Mint (RIP) --not sure if YNAB has this, where the program provides details of spending by category and usually gives you the ability to recategorize spending.

Best wishes
by soccerrules
Wed Jan 24, 2024 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Amount and Method of Gifting to Children
Replies: 7
Views: 682

Re: Amount and Method of Gifting to Children

as posted already you can give anyone $18,000 per year without needing to file any forms with the IRS. A spouse can also give the same person $18,000 for a total of $36K a year from your shared or separate accounts (Brokerage, Checking, Savings)

Similarly for example a Parent can give a child and their significant other $18,000 each. 1 person - 2 different recipients.

I would imagine a ACH would work. We have given and received handwritten checks in the past.
by soccerrules
Wed Jan 24, 2024 8:31 am
Forum: Personal Investments
Topic: How much is owned real estate (primary/secondary homes) as a percent of your net worth?
Replies: 113
Views: 8869

Re: How much is owned real estate (primary/secondary homes) as a percent of your net worth?

I have no investment RE just my primary home. It is paid off.

My home is 22-23% of our NW, as a rough estimate.

Based on your example my NW is 100%, which I don't really follow.

Assets
RE 22%
Other Investments 78%
Total 100%

Liabilities
0%

NW 100%
by soccerrules
Wed Jan 24, 2024 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Retiring vs Resigning
Replies: 28
Views: 4309

Re: Retiring vs Resigning

Others will have more info. Retirement instead of resignation has some perks. I think pending RSUs / Options are immediately vested, your pending vacation is paid instead of being forfeited. you may qualify for indefinite retiree insurance instead of 18 month CORBA. If you have Deferred comp, at retirement it is structured payments while at resignation, it is lump sum payment next year etc. These and others depend on your situation depend on company policies. I would always vote for retirement rather than resignation. Good starter list. Go back and read your company handbook and any supporting documents you may have received over time (RSU plan, Executive Comp, Deferred Comp). I did not read these at the time. Surprisingly my company does ...
by soccerrules
Tue Jan 23, 2024 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Timing Month of Retirement
Replies: 33
Views: 2418

Re: Timing Month of Retirement

Things I am considering for a mid year retirement (although I'm 58) 1) Healthcare -- will i use COBRA or switch to ACA? 2) Quarterly Bonuses - earned and paid 3) Company Match Posting-- ours is Jan and July for prior 6 month period 4) RSU/PSU Equity vesting (might check documents--i just read mine will continue to vest for future years if i truly Retire from company and that new RSUs (Jan 2024) will count and vest in the future as long as I work 6 months past when RSUs are granted - (July 2024)) 5) Maybe Charitable Giving depending on tax situations 6) Tax Loss harvesting (although not specific to this year) 7) Is there a unused PTO payout and implications Not all of these will apply-- but ones that were bouncing around in my head. If you h...
by soccerrules
Tue Jan 23, 2024 2:18 pm
Forum: Personal Investments
Topic: What should i do with my savings?
Replies: 11
Views: 2063

Re: What should i do with my savings?

So I have $250K in my savings account making 4.35% interest. I recently took $60K and put them into T Bills ($250K is my current balance). Any suggestions where I can put more $? I already have an extensive protfolio in my brokerage account with stocks bonds and index ETFs. im not in a position to buy real estate now so it will have to be investments thx invest according to your Plan. If you have a plan to buy RE or a Business and need the $250K ready to deploy, leave it in the MMF/HYSA. If I had a chunk of cash I was not going to need for at least 5 years --I would invest it in VTI and then rebalance (sell stocks and buy bonds) in my tax deferred accounts to meet my desired AA. I would not have allowed the savings to get to $250K and woul...
by soccerrules
Sun Jan 21, 2024 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: College counselor/consultant
Replies: 65
Views: 4579

Re: College counselor/consultant

Did not use a consultant -- 3rd kid will graduate college in May 2024. We did: 1) Attended the College Fairs at our school and any presentation provided for HS students about college 2) Asked questions to the individual schools about testing, admissions, scholarships etc 3) Did our own research. Youtube, podcasts, college websites Like investing there is a lot of good free information out there to become educated. Student should focus on getting the best grades possible and highest available class rank. I personally think they should also be involved in extracurricular and leadership opportunities. I hear the SAT/ACT tests are not near as important or sometimes even used like they were pre-covid. My kids did not look at a large number of op...
by soccerrules
Sun Jan 21, 2024 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Calcuation
Replies: 12
Views: 1342

Re: Social Security Calcuation

Good suggestions already on your questions. I would use the SSA calculator and play around with the earnings amount and see what it does to your PIA. Use $0, $50K, $100K etc. if you have earnings for 35 years, another year of working will only change your benefit slightly. for example $100K in indexed earnings once you are past the 2nd bend point in the calculation is worth about $35/mo in benefit, at FRA. If you have earnings from 35 years ago that are "indexed" to $60k in todays dollars, you would need to earn $160K this year to show an increase of $100K in overall earnings and replacing that "$60k year" (assuming indexed to that number or actual dollars earned if you are age 60 and above) --that translates to the $35/...
by soccerrules
Fri Jan 19, 2024 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: Giving High-Level Advice to Younger People If You Are Older
Replies: 70
Views: 5788

Re: Giving High-Level Advice to Younger People If You Are Older

My advice would be:

1) Save more
2) Reduce your investment costs and fees
3) Encourage Learning - BH site, Books and Podcasts
by soccerrules
Fri Jan 19, 2024 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice and retirement
Replies: 35
Views: 4338

Re: Career advice and retirement

I think you will likely be fine either way. I would put pencil to paper and figure out retirement expenses once the house is paid for and the kids are off the payroll. Healthcare prior to Medicare and then withdrawal rate once SS hits. I would get on the SSA website and check your PIA if you stop working this year. See what your age 62/67/70 benefit amount will be. What about Spousal benefits ? As far the as the stay or move with the job -- you need to decide if you want to keep working or not and for how long. It seems like staying where you are for as long as possible would be my suggestion. You state you don't relish the idea of moving and there doesn't appear to be anything pulling you to another city/state--I would stick out your curre...
by soccerrules
Fri Jan 19, 2024 8:51 am
Forum: Personal Investments
Topic: Starting Over
Replies: 17
Views: 2690

Re: Starting Over

Welcome to the forum. I would not rush into anything without taking some time to educate yourself. A great starting point is reading through the Wiki here. You want to have a good base of understanding so you know WHY you are making the moves and does it fit your Plan. Also as you receive feedback from other posters you understand more about the suggestions. Also pick a couple books from the suggested reading -- (Simple Path to Wealth and Common Sense Investing Guide are 2 popular ones) I will give you some general things to think through 1) Think of all of your accounts as 1 big pot of money 2) Once you understand your need/desire to take on risk then you will pick an Asset Allocation which is usually your Stock and Bonds ratio - (ie 60/4...
by soccerrules
Thu Jan 18, 2024 10:16 pm
Forum: Personal Investments
Topic: Starting Over
Replies: 17
Views: 2690

Re: Starting Over

Welcome to the forum. I would not rush into anything without taking some time to educate yourself. A great starting point is reading through the Wiki here. You want to have a good base of understanding so you know WHY you are making the moves and does it fit your Plan. Also as you receive feedback from other posters you understand more about the suggestions. Also pick a couple books from the suggested reading -- (Simple Path to Wealth and Common Sense Investing Guide are 2 popular ones) I will give you some general things to think through 1) Think of all of your accounts as 1 big pot of money 2) Once you understand your need/desire to take on risk then you will pick an Asset Allocation which is usually your Stock and Bonds ratio - (ie 60/40...
by soccerrules
Tue Jan 16, 2024 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Term Life - to ladder or not?
Replies: 14
Views: 1083

Re: Term Life - to ladder or not?

I think what you have will be fine. If you want to layer another $1M for the next 10-15 years, go ahead.

Each year your need for life insurance reduces as kids age, expenses are covered and your savings grows.

As others have said - Term is cheap buy more if you want. You can always drop it later.
by soccerrules
Thu Jan 11, 2024 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: A Sales Team's Ultimatum
Replies: 76
Views: 15197

Re: A Sales Team's Ultimatum

My first response is to contract your president or a managing partner-- essentially someone either having these discussions or perhaps making the decision. Ask to meet with them and then professionally address the feedback on the state of affairs from the last 1-2 years and the rumors. Ask for them to provide feedback. They may be straight and tell you "yes changes are coming" or "give you a song a dance" and leave you more confused. It might just be rumors. The challenge when companies/leaders/we do not communicate effectively, people fill in the blanks on their own and it usually is not good things. Depending on the information you receive you can determine how you respond in that meeting or circle back after you've ha...
by soccerrules
Thu Jan 11, 2024 2:14 pm
Forum: Investing - Theory, News & General
Topic: Withdrawal Rate Math
Replies: 36
Views: 4637

Re: Withdrawal Rate Math

I think you "might be OK". In theory you are withdrawing a similar total amount over the 4 years --but it really depends on what that original 3% withdrawal amount would have been and then what a 12% withdrawal is on perhaps a larger (or not) portfolio. I would look at the balance of your accounts 4 years ago and see what the change in value is to current. I would then calculate what a 3% withdrawal on the total from 4 years ago. Then multiply by 4 for ease of calculation or if you want to factor inflation on the 3 % withdrawal doe so from that original amount for year 2 and then inflation adjust for year 3 and 4. Then compare that total amount against a 12% withdrawal on the current balance. You would not be wise to continue to w...
by soccerrules
Wed Jan 10, 2024 9:52 am
Forum: Personal Investments
Topic: Retiring in 3 months! How to handle contributions?
Replies: 33
Views: 3680

Re: Retiring in 3 months! How to handle contributions?

If you can front load into tax deferred and reduce 2023 income, shouldn't that help with ACA subsidies since it is based on Income?

The Roth option is attractive for the longer term tax free impact.

You might crunch the numbers on what savings of ACA Premiums by playing with income numbers on the ACA site. If you have with the lower income for the years prior to Medicare versus the longer play of paying taxes in 2023 for Roth contributions.

You might find out doing a 50/50 split of Tax Deferred (to low income some for ACA subsidies) and Roth 401k (tax free future) is a good option.
by soccerrules
Wed Jan 10, 2024 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Easier to pay bills with credit card?
Replies: 31
Views: 3703

Re: Easier to pay bills with credit card?

WilliamOfOckham wrote: Tue Jan 09, 2024 9:23 pm Wouldn't expiring or reissued cards with new numbers (after fraudulent use) necessitate resetting for all vendors?
When the expiration date changes (card numbers stay the same) the Auto Pay system picks up the new expiration date automatically. But yes to your point if you were to change cards due to choice or fraud -- you would need to jump online and update the card info. To me it is worth it "if" something happened to spend 20-30 minutes updating the accounts than the time and money i would spend using online bill pay or writing out/mailing manual checks.