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The FERS deferred annuity is not inflation adjusted when you don't get a full retirement. So there's that. I believe there is a cutoff at 10 years that makes deferred annuity a no brainer vs a lump sum payout. I think in almost all cases, the deferred annuity is better if you qualify for one. I think the analysis might be more along the lines of will the future annuity be enough to even be worth filling out the paperwork for, or would you rather just consolidate and get a lump sum? The case where the deferred annuity loses is if we have rampant inflation until you retire, since it's only inflation adjusted once the annuity pays out (not in the years leading up to the payment). For what it's worth, I took a deferred retirement/annuity with ...

You would be eligible for deferred retirement at age 62 (9 years) if you leave money in. The yearly payment of that is high3 salary*1.1%*7 years of service. My guess is the value of that annuity is greater than $26k because of the unseen federal govt contributions - which you lose if you cash out. You'd have to input your salary info and perform present value calculation to know for sure.

Can't answer your questions about the form.

4 years out of fellowship. My feelings are a bit different. I don't think you should pay for medical school up front. I think he/she should take out loans. If you're inclined to pay to pay for it then set aside the requisite amount and be prepared to help after residency with principal amount and they can pay for interest that accrues. There is a reasonable chance for loan forgiveness with a lot of medical jobs so taking out loans keeps some flexibility in that regard. Plus it keeps your child with some skin in the game. If you want to help now can help with living expenses which will lower amount of loans taken out. I would never do a MD/PhD unless really passionate about pursuing high-level research. It's not cost effective and takes 4 ye...

We have spent 4 nights on sao miguel. We spent 2 nights in ponta delgada (Hotel Azor) and 2 nights in the hotel attached to the nature park referenced above - I don't recall the name of that hotel but both had excellent breakfasts included. Both were very nice and different experiences. The one attached to the park has the added benefit of allowing access to the park after hours where you literally have it (and the thermal pools) to yourself. The downside is it's on the eastern end of the island so less easy to get around the entire island as compared with ponta delgada which is more centrally located. You must have a car regardless. The entire island is amazing - we loved driving and looking at hydrangeas, boca do inferno is an absolute ne...

PAYE caps your payments and you can file separately. Would stay on that although you need to run numbers. If you're going to stay at 501c3 then PSLF is mathematically the correct answer although the 100k throws a wrench. Does it have to be used for student loans or is it structured as a signing bonus? I think technically employer can provide about 5k toward student loans that is tax-free after that it's taxable to you. Would be great if you could get the 100k but not put toward loans since it's going to be mostly taxable to you anyway. You may get better answer at whitecoatinvestor.com although these questions are esoteric (are you going to stay at non-profit and are you bothered by carrying debt?) and also mathematical especially when cons...

First I would look into refi while rates are low. Be Very careful does not mess up repayment terms in time Second it is looking very unlikely repayment will start again in May. Do not repay anything until close to restart date and restart is 100% happening. I would put the repayment at the very minimum the monthly repayment amount every month into something accessible but secure. I bonds, cd ladder, high yield savings earmarked for student loans. This way if forgiveness happens you can take advantage. If pause happens you get interest in mean time , if things change you can roll with punches. You will have locked in a low interest rate and you can evaluate with the new information time gives If you refi into a private loan you lose PSLF el...

If she is eligible for forgiveness then that would imply these are federal student loans in which case her current interest rate is 0% and her current payment is $0. This is currently expected to end in May 2022 but there is talk of it being extended further until a definitive legislative plan can be made regarding student loan forgiveness. Every month that it is extended increases the amount that will be forgiven. It is likely that the amount that would be forgiven under PSLF would be closer the amount she current owes ($96k) than $30-40k unless I'm missing something here.

That being said, if the loans cause her stress I'd pay them off with the windfall. If not, ride it out until forgiveness.

There have been great replies, thanks all. I don't feel good about just walking away at this point. I think I will give it another week or two to see if they catch it internally, then if not reach out to notify them of omission. If that doesn't fix the issue then I think I've done my part at that point.

We recently splurged on a very nice hotel (Hilton luxury brand). The stay totaled about $5,300 plus incidentals. When we checked in I changed card on file from what it had been booked with as I had just gotten a Hilton card and wanted points. Unbeknownst to me, this was just for incidentals and the previous card was charged for room charges at check-in. When we checked out this was caught and I asked room charge ($5,300) to be switched to the Hilton card which they agreed to. The first credit card was refunded. Initially the charge on the Hilton card showed as a pending charge but then disappeared and has not shown back up, now 2 weeks after checkout. The incidentals charge is on there and finalized. Has anyone else dealt with something lik...

Financially very sound plan.

What is the point though - no children, no jobs. How will you find meaning in life? Just traveling around? Not sure if volunteering or have some other goals.

I think life would get quite boring without some meaning attached and only you can answer that.

How committed is this relationship? Asking only because both filing single and seems plan is dependent on you staying together.

What's the money for?

You have more than enough to retire now with your current expenses and will have pension and SS (presumably) in the future.

If it were me I'd start spending more.

Offer to sign a 2 year lease extension.

Been several times in the past year or two for weekend trips.

Have stayed at DeSoto - centrally located. Also like Hyatt Andaz.

The Grey is great restaurant.

Off the beaten path - love the Wyld dock bar. Have to drive there or take Uber but great ambiance to have a cocktail on the water and good seafood to boot. THis time of year is perfect perfect time to do this.

The best thing to do in Savannah is just walk around and explore all of the parks and historic streets.

I discussed upthread how one might go about setting a maximum. Reading the thread again, I do not recommend setting a minimum for discretionary spending . In fact, I find this notion "I don’t want to end up the richest person in the graveyard" very strange. Since we're talking about an accumulator not a retiree, they aren't the richest person in the graveyard yet (unless you pass during accumulation and never retire). The simple truth is that the more they spend during accumulation (which necessarily means they're saving less), the longer it takes them to reach their "number" and retire early. This misses the point - anyone who can live off of 3.5% of their savings is essentially able to retire early but chooses not to....

It seems to me that once you have 10 years of expenses in bonds or safe assets it's silly to put more in. That would be my cutoff for increasing stock allocation as one ages.

Accumulator. I am planning to accumulate per my AA until I reach 10 years expenses in bonds. From that point on everything will be in equities, thus I agree with topic and am planning an increasing glidepath. I see no reason to have more than 10 years expenses in fixed income. Of course, the only people who will have this "problem" are those who have over-accumulated or who plan to leave substantial inheritance. For instance, $60,000 in expenses would reasonably imply a 1.5M portfolio at retirement (4% withdrawal). 10 years' worth of expenses in bonds = $600,000 or 60:40 which would be considered quite reasonable for a retiree. $60,000 in expenses with a 4.5M portfolio (1.33% withdrawal). Still $600,000 in bonds, now with 3.9M in ...

You have a debt to income ratio far below 1:1. You've put all of this in words. You'll be fine. Focus on decreasing car insurance, gas expenses (you drive a lot in NYC, really?), cell phone. Prioritize paying off CC within 3 months. Visit family.

Not sure about small cap but my understanding is value does better in high expected inflation because profits are expected now and not subject to future inflation as much. Growth companies are priced based on expected profits in the future but with inflation these profits will be eroded which decreases price.

Oculoplastics surgeon (ophthalmologist who has done fellowship in plastic surgery) may perform blepharoplasty. Usually they deal with more reconstructive concerns is my experience. Personally I'd just stick with facial plastic surgeon who specializes in cosmetics as discussed above.

The most important thing is fellowship-trained facial plastic surgeon designation. Facial plastic surgeon is very different from run-of-the-mill plastic surgeon, who are mostly doing tummy-tucks, breast augmentation/reduction, liposuction etc. In my opinion ENT's with facial plastic surgeon designation are probably better than plastic surgeons.

I think you're doing great overall.

Agree with Tamarind - open solo 401k for your wife, roll her traditional IRA into it. Then she can make bdRoth contributions going forward. Would do that before mega bdRoth.

At 24% bracket + 7+% state I'd favor exhausting tax deferred contributions before pursuing mega bdRoth.

Pretty sure it should be 24% bracket?

You have $200k in cash in your emergency fund. That seems like a good bond equivalent.

Maybe I'm mis-reading but if that's the case you're more like 60/40 which is conservative for your age.

I've done this. No issues.

Main risk is being in the same room as the financing guy with upsell on warranty, etc. Unpleasant 30 minutes.

Don't pass up tax deferred space but then everything else should be going toward debt.

Can buy new car when all debt gone, you are saving 20% for retirement and can pay cash.

Live like a resident this year and next then I bet you'll be able to loosen up.

3605.50

Long time lurker. Even longer JB acolyte. I've run all the calculators and think I'm getting close. Which is why I post here now. I'm mid 40s. No dependents. LCOL area, no mortgage. Tired of wearing PPE for 40 hrs a week. Vaccinated yesterday. Federal Employee. 20 years of service. I'm considering at least semi-retirement sometime early-mid 2021. Need to live on, or use the following to supplement 12 years income before that pension and then the IRA (currently $160K) kick in. Net worth includes... 9x annual expenses 4-index (70:30) 2x annual expenses active stock (60:40 US:ITL) 2x annual expenses Cash a small house The TSP account is around 11x expenses at last check. Thanks in advance for your input. First off, you're an excellent saver. ...

At least sell primary residence. Right now capital gains are tax-free, at least federal - wouldn't suprise me if taxable in California. Once you're gone 3 years you'll owe taxes.

To clarify, I'm not concerned with cash flow issues due to double withholding in the beginning of the year. I'm more concerned with being able to get it back. Will there be a mechanism to show that the money being withheld in Jan - April was not owed to begin with?

Interesting discussion. My take: I am an attending physician in an employed academic position. SO is a self-employed web developer so am familiar with both jobs to some extent (although don't know the nuances of differences between software dev and web dev). I love my job - I get immense personal satisfaction out of being able to take care of patients who are generally grateful. I enjoy teaching residents and medical students. The stress of the job is significant and I agree with above posters who say it only gets worse once you're out of training. My SO has much more flexibility to travel, work remotely, choose hours. He was able to enjoy his 20's and early 30's while I was underwater in medical school, residency and fellowship. When we me...

I have two W2 jobs, one paying above the social security limit and one paying $75k/year. Thus I overpay social security each year due to one job withholding the maximum SS amount and the $75k/year job withholding SS for that entire salary as well. The overpayment is typically refunded to me in April.

This year is different however. With the "deferral" of payroll taxes from September - December 2020 from my $75k/year job, I am due to pay double payroll taxes from January - April of 2021 to recollect this deferred taxation. However, most of the money being recovered would have been refunded to me in April anyway. Is there a way around this issue and, if not, how will it be accounted for in 2022 taxes?

I'll answer the question that wasn't asked:

I wouldn't pay off a dime of federal student loans for the next couple of months until the new administration makes its policies known.

Max employee contribution to 403b in 2021 is $19,500, same for 457. How do you propose getting $52,000 into them? Is one a 401a by chance - these are not subject to same limits.

Soon2BXProgrammer wrote: ↑Mon Nov 23, 2020 9:31 pm

SCb&b wrote: ↑Mon Nov 23, 2020 9:10 pm Have had xfinity mobile for 2+ years now without issue. My bill varies between $16 and $26/month (1-2GB).

Only gotcha is you have to keep either xfinity tv or internet service to remain eligible.

you would be better off with the 3gb mint mobile plan for $15 (and some taxes) or the 8gb plan for $20...

then you can threaten/negotiate your internet service easier.

they know when they hvae your cell phone, that they have you by the 8@!!$, from a negotiation perspective.

Thanks - I'll definitely look into that.

Honestly, Xfinity has no clue what's going on. Maybe they'll get it together one day but I'm able to negotiate my internet bill with them each year without issue.

Have had xfinity mobile for 2+ years now without issue. My bill varies between $16 and $26/month (1-2GB).

Only gotcha is you have to keep either xfinity tv or internet service to remain eligible.

One higher than the one you are in

Just once I would like to see a FIREed couple who didn't have one of the couple working part-time, one writing a book/blog. How would you find out about them? Besides that problem, another issue is that it seems that most in the FIRE community seem to genuinely want to do something with their time that leads to some kind of income, even though they don't need the money. I personally don't care about whether they are RE as long as they are FI. It might be hard as they won't be blogging about being FI but still needing to work part-time as they are retired, they will actually be FIRE. They probably walk among us, and we just don't know! There are probably many on this very site. :shock: Broken Man Dear Broken Man, Have you read this other ac...

What's it about? Anticipation is killing me

How much has the price of real estate increased in Westchester in the meantime?

Save 15-20%, do whatever you want with the rest

There is no such thing as a "25 year plan" as far as I am aware. She gets taxable forgiveness after making payments for 25 years on a qualifying plan. If she is on income-driven repayment (IBR, ICR, PAYE, REPAYE) and working at a qualified entity (501c3, government) at at least 30 hours per week and her student loans are consolidated federal loans then she probably qualifies for PSLF. Whether to pursue it depends on whether she's planning to work there for 10 years. If 9 years and 11 months she gets nothing. Would read further about PSLF at whitecoatinvestor.com to educate yourself - it's a nuanced decision as is the particular payment plan to be on. May be worth discussing with a student loan advisor such as Travis Hornsby. What ...

Based on the first 10 replies to this topic I would have run away too. Here we have a well-intentioned poster who seems to have the situation under control, has managed to save significant sums of money at an early age, is planning to move back home and yet (s)he gets lambasted for taking out too many loans. Anyone here ever heard of sunk cost fallacy? It's done, no point in rehashing it. By the way, OP has a good paying job that seems likely to grow. Anyone here have a job that paid $80,000/year right out of college? Me neither. That's a ton of money for someone right out of school. To answer directly asked questions: 1) Refinance today or at latest tomorrow 2) Divert any brokerage holdings without significant capital gains to lowering loa...

Employed physician here who has dealt with similar issues albeit not on as large of a salary. After my first 2 years I felt like you did - taken advantage of by the hospital. I live in a medium-sized city which would not be considered desirable by most. Surgical subspecialist, I take more call than you, work longer hours, probably take care of sicker patients, bring in a ton of money for system. I teach residents and medical students which is its own reward and despite being an employee feel like I have enough autonomy. I went to my chairman with my numbers and got a minor raise (10%) and a better schedule this year. The better schedule made more of a difference to me than the money. As other posters have suggested, you need to figure out w...

deanbrew wrote: ↑Tue Sep 22, 2020 8:00 pm

SCb&b wrote: ↑Tue Sep 22, 2020 7:53 pm Weller green label. $30 and a bargain at that

Where are you finding Weller's, especially at $30? I've been looking for over a year and have yet to find a bottle anywhere. I've heard it at two to three times that price, but I haven't even seen it at any price.

Hmmm I know of a place. It's not in PA though.

I've said enough.

Weller green label. $30 and a bargain at that

Old Guy wrote: ↑Wed Sep 16, 2020 9:13 pm What happens if they graduate, like my son did in 2007, in a the middle of a depression?

Dad, is that you?

Do you really hate your job that much? What will you do for mental stimulation for the next 50 years?

You have hobbies - will you bore of them after 6 months of doing every day?

Monetarily, probably fine. I'd own a house to protect against inflation.

Ask a mortgage broker to run break-even analysis on refinancing your mortgage to 15 year fixed. You'll probably come out ahead in 6 months.

Refinance student loans - going rates are much lower.

You can reduce tons of expenses just by lowering interest payments.

You have a significant other paying some expenses.

You will be making $80-90k/yr.

You need to save 20% of that since starting late.

Find a way to live off of $64k/year. That's above median income. You must find a way to do this.

The amount you save is the most important predictor of things going forward.

Maybe defer the "necessary household purchases"?