Search found 618 matches

by gotester2000
Thu Nov 28, 2019 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Finding happiness
Replies: 32
Views: 3781

Re: Finding happiness

Keep yourself busy. Stop analyzing life, just live it. Live in the moment. Goals give success but seldom give happiness.
by gotester2000
Sun Nov 17, 2019 10:46 am
Forum: Non-US Investing
Topic: Broader Index funds available in India but confused about expense ratios.
Replies: 8
Views: 1056

Re: Broader Index funds available in India but confused about expense ratios.

Nifty 50 index fund is the oldest and best choice. The index is around for years and there a few good fund choices there with ER of 0.1% in direct mode.
Nifty 100 = Nifty 50 + Nifty next 50. Not worth the extra volatility of the next 50.
Nifty 500 ??? ☺ - Innovations will keep coming up.
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: 5203

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 lifestyle and additional income.
Of course, people can guide you better if you can throw in some numbers.
by gotester2000
Sat Mar 16, 2019 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Another Can I Retire Question
Replies: 30
Views: 3870

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 6:17 am
Forum: Personal Finance (Not Investing)
Topic: Are my parents' finances a disaster waiting to happen? Seeking advice.
Replies: 105
Views: 13214

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 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Side gig ideas with minimal requirements?
Replies: 124
Views: 12538

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. There should be a survey of people opting for second careers in life - software developers will be in the top percentile! None of this seems obvious to me? Certainly some people do get burned out at some point and there are a few industries (game development springs to mind) where punishing hours are common, but for the most part, I don't see what you are asserting as an accurate portrayal of the industry. I think the percentage of software deve...
by gotester2000
Fri Feb 22, 2019 12:43 am
Forum: Personal Finance (Not Investing)
Topic: Side gig ideas with minimal requirements?
Replies: 124
Views: 12538

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.
There should be a survey of people opting for second careers in life - software developers will be in the top percentile!
by gotester2000
Thu Feb 21, 2019 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Side gig ideas with minimal requirements?
Replies: 124
Views: 12538

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 successful with side gigs online, you have to work full time on them - e.g.writing.
by gotester2000
Sun Feb 17, 2019 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Moved to new state/job 6M ago. Previous employer wants me back!
Replies: 57
Views: 6966

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 7:43 am
Forum: Personal Investments
Topic: Can I retire now?
Replies: 35
Views: 8407

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 fulfilling job that you actually liked and that covered a reasonable percentage of monthly expenses, you would be golden. With your savings and team effort you have elbow room to design the situation you want for yourselves and live it. The trick is to open your mind to the possibilities, decide what you want, and create it. +1 OP is FI and programming is not the only skill and job in the world. Why not leverage other skills to find less stressf...
by gotester2000
Thu Jan 24, 2019 4:25 am
Forum: Personal Finance (Not Investing)
Topic: Need Advice - quit 6-figure job to do coding school?
Replies: 118
Views: 13482

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 working stress free in a new career!
by gotester2000
Wed Jan 23, 2019 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: Should I use my Roth IRA to pay off CC debt
Replies: 29
Views: 6157

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 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Help needed: wife seeking new job to escape megacorp hell
Replies: 58
Views: 6834

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 is not your friend and that could cause all sorts of problems including getting her current manager mad at her. Even if there was another position at that company it would likely not be a good career move because they would be unlikely to fully bring her salary up to what she could make somewhere else. I agree 100% and was the victim of megacorp HR. I naively thought HR was there to help employees. What happened to me is that my manager knew what...
by gotester2000
Fri Jan 18, 2019 5:27 am
Forum: Personal Finance (Not Investing)
Topic: How much house can I afford (really)?
Replies: 129
Views: 11429

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 to be very difficult - of course, nothing is impossible and OP may hit a jackpot!
by gotester2000
Mon Dec 31, 2018 1:45 am
Forum: Personal Investments
Topic: Am I retirement ready?
Replies: 63
Views: 9005

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 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: Rent or buy home - your opinion
Replies: 15
Views: 2168

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 12:47 am
Forum: Personal Finance (Not Investing)
Topic: Involuntary retirement - stories and strategies?
Replies: 32
Views: 4251

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 points are important: 1. Your survival is a greater factor of how easily you are approachable - are you a team person or an island in yourself. It matters more than technical skills later on. It is no surprise that people with networks in the company survive more layoffs. Go to point 2 if you cannot be the person in point 1, everybody cannot be. 2. Strive to be FI in 15 years time as layoffs will come sooner or later - no matter how hardworking or hon...
by gotester2000
Sat Dec 22, 2018 12:47 am
Forum: Personal Consumer Issues
Topic: Email Accounts - How Many / Security / Best Practices
Replies: 46
Views: 5425

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 10:32 pm
Forum: Personal Investments
Topic: Little Lost
Replies: 14
Views: 1670

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 this - with 1.4M at age 27 you were set for life and all you needed was to pick up a job to cover your expenses plus you could have withdrawn a little every year and would have been never short of money. At least guard the 750k now.
by gotester2000
Fri Dec 21, 2018 1:31 am
Forum: Personal Finance (Not Investing)
Topic: Buying vs renting - can I afford either?
Replies: 30
Views: 2810

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 1:09 am
Forum: Personal Finance (Not Investing)
Topic: Layoff planning -UPDATE
Replies: 18
Views: 4428

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 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Layoff planning -UPDATE
Replies: 18
Views: 4428

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 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire
Replies: 126
Views: 12506

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/Variable_percentage_withdrawal Let's say between 4-4.5% which gives him $112,500-$100,000. The OP is currently saving 20% of his income. Figure he makes $325K, pays about $100K taxes, saves $70K. So expenses are $155K or so. I think to maintain that spending level the OP may need another 1million or $3.5m. To retire now would require shaving about $50K in expenses. Might be tough. :| Considering OP's age and taxes to pay on the income, I think a numbe...
by gotester2000
Sun Dec 16, 2018 6:10 am
Forum: Personal Consumer Issues
Topic: Annoyingly Expensive HP Ink Cartridges
Replies: 34
Views: 4107

Re: Annoyingly Expensive HP Ink Cartridges

Has nobody tried refilling - a syringe and ink is all you need!
by gotester2000
Sat Dec 15, 2018 12:21 am
Forum: Personal Finance (Not Investing)
Topic: Can I retire
Replies: 126
Views: 12506

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 9:47 pm
Forum: Personal Investments
Topic: Retiring next year, would appreciate some advice
Replies: 30
Views: 4223

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 including the pension.
by gotester2000
Thu Dec 06, 2018 9:55 am
Forum: Personal Investments
Topic: Unemployed, questions about personal investing situation.
Replies: 13
Views: 1690

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 in advance they could very well dismiss you as someone who wouldn't be satisfied with a position with them. I would suggest that you maintain some pattern of employment, likely part time, through your schooling to support the fact that you worked your way through school. Computers and people that look at resumes tend to toss those with unusual gaps of any kind. At least in IT , I would view it as a positive to have a business(something related) , ...
by gotester2000
Wed Dec 05, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Reuqesting Help With Managing of Winnings
Replies: 37
Views: 4615

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 posting their intentions to leave that much in is going to listen to us. Especially when they've already given away $17,000!! of their own money already! They're going to have to learn the hard way. But I'm not sure someone who's already given away 17k! of their own money previously is open to walk away. I'm a very knowledgeable and capable poker player, but I only play 1 or 2 times a year. I see a lot of the same people each time I play give aw...
by gotester2000
Mon Dec 03, 2018 4:11 am
Forum: Personal Consumer Issues
Topic: Retired in your late 40s or early 50s?
Replies: 87
Views: 17398

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

Smoke wrote: Sun Dec 02, 2018 6:28 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 10:08 pm
Forum: Personal Finance (Not Investing)
Topic: New job concerns
Replies: 52
Views: 6644

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 worry about how this will look on your resume.

I will take option 1 if everything else is fine. Dont create unnecessary stress by sticking to 1 hour commute timings and being rigid.
by gotester2000
Sat Nov 17, 2018 3:20 am
Forum: Personal Consumer Issues
Topic: Foreign Currency
Replies: 24
Views: 1857

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 - those you see on google.
by gotester2000
Sat Nov 10, 2018 11:38 am
Forum: Investing - Theory, News & General
Topic: Do you prefer etfs or mutual funds?
Replies: 271
Views: 18942

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: 47
Views: 6637

Re: Compounding interest?

JustinR wrote: Fri Oct 26, 2018 4:31 am 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. The term compounded is a misnomer to give the impression that the index returned Y% annually.
In reality, it will return Z% for the entire period of 30 years.
X may become X/2 after 30 years-nobody knows!
by gotester2000
Fri Oct 26, 2018 3:05 am
Forum: Investing - Theory, News & General
Topic: Compounding interest?
Replies: 47
Views: 6637

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 portfolio will consist more heavily of my contributions than growth attributed to compounding ? Isn't it the other way around? In the beginning, our portfolios consist more heavily of our contributions, but as time and compounding go on, our portfolio growth consists more and more of compounded growth. Using an investment calculator and plugging in a hypothetical $100,000 with a 5% return with $5000 contributions monthly after 10 years yields $93...
by gotester2000
Thu Oct 25, 2018 9:43 pm
Forum: Investing - Theory, News & General
Topic: Compounding interest?
Replies: 47
Views: 6637

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 100%.
Case 2 is CAGR - a fancy term invented to give a false sense that your investment is compounding. Markets do not compound - volatility gives gains/losses. If markets compounded at fixed rate, there will be no sequence of returns risk - you will have prior knowledge of the exact amount of your corpus growth each year.

OP's original question is based on this false notion of CAGR.
by gotester2000
Thu Oct 25, 2018 10:47 am
Forum: Investing - Theory, News & General
Topic: Compounding interest?
Replies: 47
Views: 6637

Re: Compounding interest?

coffeecup333 wrote: Wed Oct 24, 2018 10:30 am 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 minus cost (plus dividends).

Compounding magic works only in fixed income instruments like a cd.
by gotester2000
Thu Oct 25, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Buying an apartment in China
Replies: 14
Views: 2138

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 payment and buying at low cost.
by gotester2000
Wed Oct 24, 2018 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking housing advice
Replies: 11
Views: 1475

Re: Seeking housing advice

fulanodetal wrote: Wed Oct 24, 2018 8:14 am
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.g. Costco). Once FIL works for 10 years, the in-laws should qualify for SS/Medicare benefits. They are expected to cover their own insurance and day-to-day living expenses, but not to contribute to housing payments.
I think it is a bad plan to emigrate to a HCOL country without lot of savings at age 50+ , work in a low paying job and be dependent on somebody, and also make his financial life unstable.
by gotester2000
Thu Oct 18, 2018 12:59 pm
Forum: Personal Consumer Issues
Topic: Anyone done a Hair Transplant?
Replies: 79
Views: 10239

Re: Anyone done a Hair Transplant?

Cyclesafe wrote: Thu Oct 11, 2018 10:08 am 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 and 70s color their hair when a natural grey hair look is better!
by gotester2000
Thu Oct 18, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Approach to rescinding a job acceptance
Replies: 50
Views: 5247

Re: Approach to rescinding a job acceptance

JordanIB wrote: Thu Oct 18, 2018 11:11 am
edge wrote: Thu Oct 18, 2018 11:06 am 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 about you till you fit his needs. Never hesitate to change jobs if it benefits you largely - be loyal to yourself first.
The blacklist/burning bridge is a myth - when they are desperate they will not look at these small things and so wont you.
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: 6218

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: 2928

Re: Job Opportunity - Via Staffing Agency

MJW wrote: Tue Oct 09, 2018 11:12 pm
Nestegg_User wrote: Tue Oct 09, 2018 10:49 pm 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 usage of the expression would be assumed.
HR has its own targets and bonuses for meeting company objectives. They care a hoot for employees. HR talking about ethics is ironical at best.
by gotester2000
Tue Oct 09, 2018 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Job Opportunity - Via Staffing Agency
Replies: 29
Views: 2928

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 nothing like a permanent job in corporate world. By the way, I have also hired people - being an employee does not mean you are immune - you have to prove yourself all the time and I have seen people asked to go in the first month itself.
HR is for company benefit only - employee is the last thing they really care for.
by gotester2000
Tue Oct 09, 2018 2:29 am
Forum: Personal Investments
Topic: Mortgage lump sum question - What would you do?
Replies: 23
Views: 2988

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: 1957

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: 15758

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: 5619

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: 9480

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 include my 15 yr mortgage payment in current high property tax area, totaling about 45k annually, so I don't think its correct to compare annual expense including that against my net worth excluding home equity. Ultimately with a paid off house in a different locale once child graduates high school would be much less, hopefully under 10k (property tax only) and many places even less. So that would lower my annual spend from 110k to lets say 75k, so i ...
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: 2592

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: 5619

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.