Search found 616 matches

by gotester2000
Mon Mar 18, 2019 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Struggling with debts and upcoming events, what are my options?
Replies: 51
Views: 4514

Re: Struggling with debts and upcoming events, what are my options?

OP, The realistic thing to do would be to sell the house and pay the debt. Rent till you are in a financially sound position to buy a modest house. It seems that you bought more house than you can afford. Paying the mortgage and debt at 16%(this is a negative spiral) will need serious changes in lif...
by gotester2000
Sat Mar 16, 2019 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Another Can I Retire Question
Replies: 27
Views: 2847

Re: Another Can I Retire Question

OP,

What matters more than your life? 4 hours of sleep is terrible.
You are comfortably FI and will find something worthwhile back in MI.
Family has a say definitely, but children adapt easily than adults.
by gotester2000
Sat Mar 09, 2019 7:17 am
Forum: Personal Finance (Not Investing)
Topic: Are my parents' finances a disaster waiting to happen? Seeking advice.
Replies: 105
Views: 11526

Re: Are my parents' finances a disaster waiting to happen? Seeking advice.

I dont see any issue apart from leaving a big inheritance if the parents are living their dream with 110k of stable income. At some point, they might sell the house.
by gotester2000
Fri Feb 22, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Side gig ideas with minimal requirements?
Replies: 124
Views: 9978

Re: Side gig ideas with minimal requirements?

It is not surprising that most of the software developers lose passion after 15-20 years of working in the industry. Working for 70-80 hours a week for years - the stress takes its toll. Plus add the uncertainty on the job front and no wonder that the priority is to become FI and do your own thing....
by gotester2000
Fri Feb 22, 2019 1:43 am
Forum: Personal Finance (Not Investing)
Topic: Side gig ideas with minimal requirements?
Replies: 124
Views: 9978

Re: Side gig ideas with minimal requirements?

It is not surprising that most of the software developers lose passion after 15-20 years of working in the industry. Working for 70-80 hours a week for years - the stress takes its toll. Plus add the uncertainty on the job front and no wonder that the priority is to become FI and do your own thing. ...
by gotester2000
Thu Feb 21, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Side gig ideas with minimal requirements?
Replies: 124
Views: 9978

Re: Side gig ideas with minimal requirements?

I understand your problem. You have a few choices: 1. Improve your technical skills if you want to pursue your current career. 2. Move into management roles gradually. 3. Reskill and move to a different industry. Most developers hate to do a second job that requires coding - been there. To be succes...
by gotester2000
Sun Feb 17, 2019 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Moved to new state/job 6M ago. Previous employer wants me back!
Replies: 57
Views: 5894

Re: Moved to new state/job 6M ago. Previous employer wants me back!

At 50, family and stability matters more than an exciting project whose future is unknown.
by gotester2000
Thu Feb 07, 2019 8:43 am
Forum: Personal Investments
Topic: Can I retire now?
Replies: 32
Views: 6696

Re: Can I retire now?

You could quit now to be the family housekeeper and it could probably work financially. But perhaps you are putting forth a false choice. Programming is not the only way to make money in this world. Wife likes her job and wants to keep working. Great. Fulfillment is important. If you yourself got a...
by gotester2000
Thu Jan 24, 2019 5:25 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice - quit 6-figure job to do coding school?
Replies: 118
Views: 10124

Re: Need Advice - quit 6-figure job to do coding school?

Grass is always green on the other side! Once you are married, have kids and are above 35, coding ability starts to deteriorate - managing deadlines, crazy hours and constantly adapting to new technology roadmaps becomes difficult. By this time you need to be in a managerial position, or FI and work...
by gotester2000
Wed Jan 23, 2019 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Should I use my Roth IRA to pay off CC debt
Replies: 29
Views: 5690

Re: Should I use my Roth IRA to pay off CC debt

Dont use Roth to pay CC.

Save 2k/month and pay off in 9 months. Salary is 98k - Why cant you save 24k/yr?
by gotester2000
Wed Jan 23, 2019 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Help needed: wife seeking new job to escape megacorp hell
Replies: 58
Views: 5942

Re: Help needed: wife seeking new job to escape megacorp hell

She needs to talk to the Manager of Human Resources (at her location or higher if that is possible) at the MegaCorp and tell them she wants a new better job that REQUIRES A MBA NOW. She needs to make it clear to HR that she will be taking a new job soon. I would REALLY question that suggestion. HR ...
by gotester2000
Fri Jan 18, 2019 6:27 am
Forum: Personal Finance (Not Investing)
Topic: How much house can I afford (really)?
Replies: 129
Views: 8444

Re: How much house can I afford (really)?

There are some great suggestions for the OP in this thread. The problem, almost unanimously recognized is the $162k of expenses that has made the OP a UAW as per the definition in The Millionaire Next Door. To sustain these expenses, and the associated high income level for the next 25+ years seems ...
by gotester2000
Mon Dec 31, 2018 2:45 am
Forum: Personal Investments
Topic: Am I retirement ready?
Replies: 63
Views: 8067

Re: Am I retirement ready?

It looks like you are earning serious money only for the last few years. If you are enjoying it why do you want to retire early? Find a solution to the travel problem.
You can absolutely retire today - Enjoyable work will not kill, idle retirement will.
by gotester2000
Sun Dec 23, 2018 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Rent or buy home - your opinion
Replies: 15
Views: 1887

Re: Rent or buy home - your opinion

Buy the house of such size that you dont have to move if you have a couple of kids.

Try to save 30% of gross salary.

Time does not come back, money can.
by gotester2000
Sun Dec 23, 2018 1:47 am
Forum: Personal Finance (Not Investing)
Topic: Involuntary retirement - stories and strategies?
Replies: 32
Views: 3812

Re: Involuntary retirement - stories and strategies?

Very few manage to survive a lifetime in MegaCorp. It is easy to say but highly difficult to keep yourself updated after a certain age as you have dual responsibility of family and work; whereas you could be easily replaced by young people who will work at half or one third of your salary. Two point...
by gotester2000
Sat Dec 22, 2018 1:47 am
Forum: Personal Consumer Issues
Topic: Email Accounts - How Many / Security / Best Practices
Replies: 46
Views: 3889

Re: Email Accounts - How Many / Security / Best Practices

2 - one normal, one for spam. Delete all emails from inbox periodically. Best security practice is to reduce your digital footprint - minimize data storage.
by gotester2000
Fri Dec 21, 2018 11:32 pm
Forum: Personal Investments
Topic: Little Lost
Replies: 14
Views: 1495

Re: Little Lost

At this rate you will blow out the money in 5 years. Majority of the problem is you are taking out too much - you can take out only 50k/yr on 1.4M so that the principal value does not diminish each year. You can switch/drop the advisor - but that is not the real problem - you are! Feel bad about thi...
by gotester2000
Fri Dec 21, 2018 2:31 am
Forum: Personal Finance (Not Investing)
Topic: Buying vs renting - can I afford either?
Replies: 30
Views: 2413

Re: Buying vs renting - can I afford either?

You can afford to neither buy nor rent.
Work till 70,then take SS - perhaps look for work that provides lodging and boarding?
You need to find something that motivates you to get out of the house - go for counselling.
by gotester2000
Fri Dec 21, 2018 2:09 am
Forum: Personal Finance (Not Investing)
Topic: Layoff planning -UPDATE
Replies: 18
Views: 3956

Re: Layoff planning

If you are attached to the vacation home then you should probably wait for a year to figure out how DH's new job prospects work out before paying off any mortgages which look cheap.
You didnt mention expenses but the HELOC is a red flag to me,particularly when the DH is highly salaried.
by gotester2000
Thu Dec 20, 2018 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: Layoff planning -UPDATE
Replies: 18
Views: 3956

Re: Layoff planning

What is the purpose of the second residence? If you sell it, will it clear all your debts and provide for college? 2.4M and a paid off house is a comfortable position then.
by gotester2000
Sun Dec 16, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire
Replies: 126
Views: 10747

Re: Can I retire

You can retire now if you can live on 80k per year. To spend 150k/yr you need abt 5 million. Where's this math coming from. A 54 yr old with a 2.5m portfolio with a 60/40 stock/bond asset allocation can withdraw about 4.5% according to the forum wiki VPW chart. https://www.bogleheads.org/wiki/Varia...
by gotester2000
Sun Dec 16, 2018 7:10 am
Forum: Personal Consumer Issues
Topic: Annoyingly Expensive HP Ink Cartridges
Replies: 34
Views: 2870

Re: Annoyingly Expensive HP Ink Cartridges

Has nobody tried refilling - a syringe and ink is all you need!
by gotester2000
Sat Dec 15, 2018 1:21 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire
Replies: 126
Views: 10747

Re: Can I retire

You can retire now if you can live on 80k per year.
To spend 150k/yr you need abt 5 million.
by gotester2000
Fri Dec 14, 2018 10:47 pm
Forum: Personal Investments
Topic: Retiring next year, would appreciate some advice
Replies: 30
Views: 3414

Re: Retiring next year, would appreciate some advice

1. Take the annuity with wife as survivor - put this amount in index funds + bonds. 2. Sell the 401k company stock - either fully or partly every year - Use it to fund your monthly expenses. 3. Delay SS till 70. Diversify - The risk you have is all your money is concentrated in a single company incl...
by gotester2000
Thu Dec 06, 2018 10:55 am
Forum: Personal Investments
Topic: Unemployed, questions about personal investing situation.
Replies: 13
Views: 1501

Re: Unemployed, questions about personal investing situation.

Congradulations on your success. To be able to self-fund your education in advance is a high achievement. However future potential employers and business associates may be somewhat suspicious of a multi-year gap in employment even if it is due to education. If they learn that you were self-funded i...
by gotester2000
Wed Dec 05, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Reuqesting Help With Managing of Winnings
Replies: 37
Views: 4032

Re: Reuqesting Help With Managing of Winnings

Surprised people are letting OP go on leaving $45k in a gambling account. (125-80). There’s such a thing as play money but $45k at risk would be high for me (equivalent to my cash EF) Know when to fold ‘em I've come close to commenting about it many times in this thread. A few have. I doubt someone...
by gotester2000
Mon Dec 03, 2018 5:11 am
Forum: Personal Consumer Issues
Topic: Retired in your late 40s or early 50s?
Replies: 87
Views: 15207

Re: Retired in your late 40s or early 50s?

Smoke wrote:
Sun Dec 02, 2018 7:28 pm

No plans, I am an expert at doing nothing, or rather what main stream society thinks is nothing.

:sharebeer
:sharebeer In my work life I found many experts at doing nothing - most of them were layers above me!
by gotester2000
Sat Nov 17, 2018 11:08 pm
Forum: Personal Finance (Not Investing)
Topic: New job concerns
Replies: 52
Views: 5798

Re: New job concerns

OP, If I were the manager I will not consider this favourably. As an employee you should be flexible. Option 1. You did not get your timings approved before accepting the offer. Your long commute means zero to the company. Move near work to solve this problem. Option 2. Look for a new job; dont worr...
by gotester2000
Sat Nov 17, 2018 4:20 am
Forum: Personal Consumer Issues
Topic: Foreign Currency
Replies: 24
Views: 1220

Re: Foreign Currency

I think he can use a US account with an international debit card and also carry some yen for initial setup overseas. Once he has a local account in Japan, for any recurring deposits that need USD to YEN transfers, use cheap payment providers like Transferwise. The conversion is at mid-market rates -...
by gotester2000
Sat Nov 10, 2018 12:38 pm
Forum: Investing - Theory, News & General
Topic: Do you prefer etfs or mutual funds?
Replies: 52
Views: 5880

Re: Do you prefer etfs or mutual funds?

Mutual funds -

1.You dont need a BROKERAGE account.
2. There is no spread in transactions.
3. You can SIP them.
4. There is no brokerage fee for every trade.
by gotester2000
Fri Oct 26, 2018 5:05 am
Forum: Investing - Theory, News & General
Topic: Compounding interest?
Replies: 51
Views: 5625

Re: Compounding interest?

Stocks don't earn interest, so they don't compound in the same sense as a savings bank account. They only "compound" in a theoretical sense, by hopefully growing every year. Right - If you invest in the market index for a long term like 30 years, there is a high probability that X may become 10X. T...
by gotester2000
Fri Oct 26, 2018 3:05 am
Forum: Investing - Theory, News & General
Topic: Compounding interest?
Replies: 51
Views: 5625

Re: Compounding interest?

Thank you for this. Using these retirement calculators and projecting a conservative 3%-5% return rate assumes a simple return but the annual rate of return of an investment is usually the effect of a series of returns (geometric mean). So if I am saving heavily, could it be that over time that my ...
by gotester2000
Thu Oct 25, 2018 9:43 pm
Forum: Investing - Theory, News & General
Topic: Compounding interest?
Replies: 51
Views: 5625

Re: Compounding interest?

Example: Case 1: CD of 100$ @2% p.a. grows as following in years 1,2,3 : 102, 104.04, 106.12 Case 2: Index fund of 100$ @2% CAGR moves as following in years 1,2,3 : Year 1 : 5% - 105 Year 2 : -3% - 101.85 Year 3 : 4.2% - 106.12 In both cases, amount is 106.12. Case 1 is compound interest, guaranteed...
by gotester2000
Thu Oct 25, 2018 10:47 am
Forum: Investing - Theory, News & General
Topic: Compounding interest?
Replies: 51
Views: 5625

Re: Compounding interest?

Please help me understand how saving heavily and compounding returns positive growth when I see losses in my accounts? Don't the losses wipe out the power of compounding in other words? Your basics are wrong. Markets(Capital assets) and your related accounts do not compound. The gain is selling min...
by gotester2000
Thu Oct 25, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Buying an apartment in China
Replies: 14
Views: 1757

Re: Buying an apartment in China

Buying with wife is fine. With girlfriend in a foreign country is high risk. Add to it currency risk, taxation and repatriation difficulties after 5 years when you are no longer staying there. Mortgage payments in China and India are about 3 times rent, which is cheap. Upside is leverage on down pay...
by gotester2000
Wed Oct 24, 2018 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking housing advice
Replies: 11
Views: 1256

Re: Seeking housing advice

My in-laws are in the legal process of immigrating to the US, are in their early 50s, and do not have a lot of savings. My MIL is helping with housework and the kids, and my FIL (in about 3 months when he is legally eligible) will get any job that provides insurance benefits for the two of them (e....
by gotester2000
Thu Oct 18, 2018 12:59 pm
Forum: Personal Consumer Issues
Topic: Anyone done a Hair Transplant?
Replies: 79
Views: 6939

Re: Anyone done a Hair Transplant?

Grow old gracefully. Body modifications are nearly always obvious and emphasize insecurity. Better to be mindfully healthy and maximize one's limited time on earth. +1 This wisdom comes with age. More than the person, immediate family members have greater concern about his looks. Many people in 60s...
by gotester2000
Thu Oct 18, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 4406

Re: Approach to rescinding a job acceptance

By accepting the counter you are going to work hard to be re-accepted by your current company. I would never accept a counter. I get what you're saying and I'm prepared for that. Bottom line is I'm always going to work hard to be accepted and prove myself to an employer. The employer only cares abo...
by gotester2000
Thu Oct 11, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Pls help us design our family life!!!
Replies: 42
Views: 5579

Re: Pls help us design our family life!!!

I think giving up a local govt job to be a SAHM is a bad idea. You have plenty of time and low stress.
Continue the job and I see no problem at all.
by gotester2000
Tue Oct 09, 2018 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: Job Opportunity - Via Staffing Agency
Replies: 29
Views: 2413

Re: Job Opportunity - Via Staffing Agency

might I suggest you look it up in either the “urban dictionary” or in wiki { it probably doesn’t mean what you think it means} LOL...expression of sympathy or genuine concern, per the wiki. :wink: Although, given the prevalence of HR-hate expressed on this forum I can understand why a different usa...
by gotester2000
Tue Oct 09, 2018 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Job Opportunity - Via Staffing Agency
Replies: 29
Views: 2413

Re: Job Opportunity - Via Staffing Agency

Unless you work for the government, permanent job is an illusion. You are clearly uncomfortable with contract to hire - why dont you look for other so called permanent offers? Being FI is great - I like taking contracting opportunities - they pay you more and no politics involved. Besides there is n...
by gotester2000
Tue Oct 09, 2018 2:29 am
Forum: Personal Investments
Topic: Mortgage lump sum question - What would you do?
Replies: 23
Views: 2714

Re: Mortgage lump sum question - What would you do?

2.75% rate, primary mortgage interest deduction from income and age only 45- why would you prepay so cheap money?
by gotester2000
Mon Oct 08, 2018 10:22 pm
Forum: Personal Consumer Issues
Topic: Refinace house but how?
Replies: 26
Views: 1749

Re: Refinace house but how?

Delay the work till you have enough money. By the time you have enough money you may find that the money may provide value for something more important.
by gotester2000
Mon Oct 08, 2018 1:16 pm
Forum: Investing - Theory, News & General
Topic: Allan Roth doesn't like single premium annuities
Replies: 198
Views: 12378

Re: Allan Roth doesn't like single premium annuities

Since I dont have an inflation adjusted pension, I am considering an annuity ladder - if I live a long life.
Is there any other product that will give you peaceful sleep?
by gotester2000
Mon Oct 08, 2018 4:30 am
Forum: Personal Finance (Not Investing)
Topic: Plan For Depleting Your Investments If No Heirs?
Replies: 39
Views: 5008

Re: Plan For Depleting Your Investments If No Heirs?

willthrill81 wrote:
Sun Oct 07, 2018 3:47 pm
gotester2000 wrote:
Sat Oct 06, 2018 7:39 am
If you are single then buy a SPIA after selling all assets. Blow it off every month. Also blow off SS.
A married couple could do this as well. Just buy a SPIA that will last through both spouse's lives.
Right...only if the spouse agrees😯
by gotester2000
Mon Oct 08, 2018 4:14 am
Forum: Personal Investments
Topic: Evaluate net worth - FIRE really that close?
Replies: 56
Views: 8319

Re: Evaluate net worth - FIRE really that close?

Thanks for the responses. I think 3% is generally considered quite a safe withdrawal rate so those of you saying it wouldn't last until 70 or I need 4 million, I think that is pretty conservative. I see the quick math, 1.4M minus college minus home equity at 1.05M. However my monthly expenses inclu...
by gotester2000
Sat Oct 06, 2018 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Concerns of buying a home...what would you do?
Replies: 23
Views: 2273

Re: Concerns of buying a home...what would you do?

If you have a stable job and going to stay in the area for a long time then you should buy a house to live.
by gotester2000
Sat Oct 06, 2018 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Plan For Depleting Your Investments If No Heirs?
Replies: 39
Views: 5008

Re: Plan For Depleting Your Investments If No Heirs?

If you are single then buy a SPIA after selling all assets. Blow it off every month. Also blow off SS.
You can donate/start a scholarship as well as enjoy your life. No worries. Once you reach 80 you will find that you care less about the money.
by gotester2000
Sat Oct 06, 2018 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Need advice re Sell or Keep house
Replies: 19
Views: 1415

Re: Need advice re Sell or Keep house

I would sell the house since you are years away from settling anywhere and you cannot let the house lie vacant.
Available credit on CC :moneybag is not an asset :oops: .
by gotester2000
Sat Oct 06, 2018 2:49 am
Forum: Personal Finance (Not Investing)
Topic: getting paid as a contractor
Replies: 33
Views: 2403

Re: getting paid as a contractor

I work as a contractor using online platforms. I start a milestone for fixed amount projects only when money is deposited in escrow. For hourly, it is weekly client approval. No further work till approval.
No pay no work. Has worked fine for me.