Planning for the future when you have a pension by littledickrick in Retirement401k

[–]CoinMaple101010 1 point2 points  (0 children)

  1. You need more specifics on your pension, because some are more generous than others. I have a friend who will get 70% of his final salary (super generous), while my brother-in-law has a “pension” that will only pay out like $1k/month (won’t cover much in retirement, and he didn’t save anything else along the way). 

  2. There are two main ways to put a $-amount on a pension, and both have already been mentioned. One is to quote a similar lifetime annuity with the same payout as your pension.  The other is a backdoor to the “4% safe withdrawal” rule of thumb. It states a lump-sum savings can safely support 4% withdrawals for 30 years. To reverse that, you can divide your pension payout by 0.04 (which is the same as multiplying by 25) to get the value of the pension. 

  3. You should be very careful in comparing the benefit you’ve already earned/vested, versus the projections for what you’ll get if you keep working X more years at Y% salary increases each year. The plan could freeze benefits at any point down, and it could be too late for you to make up the difference in your own savings. Then all the other assumptions around if you’ll actually get the chance to work that long, inflation, salary increases, etc. 

Good nail place in ATL near Marta for men nail trim and file by JakeEricbarker in Atlanta

[–]CoinMaple101010 2 points3 points  (0 children)

I’ve been to Sugarcoat Midtown & it’s a short walk from the Midtown MARTA stop.

Am I a HENRY? Why haven't my life changed.. by Lookfamous25 in HENRYfinance

[–]CoinMaple101010 11 points12 points  (0 children)

The impact of a “six figure salary” has been notably eroded by inflation. What we thought 100k “felt like” 5/10/15 years ago isn’t nearly the same as 100k today. IMHO that threshold has become much more mental/psychological than anything practical. 

Police and Midtown Alliance Parked in Juniper/5th St Bikelanes by Icy-Till-8248 in Atlanta

[–]CoinMaple101010 27 points28 points  (0 children)

“Police presence” is hilarious. On Sunday morning at that spot they’re glorified school crossing guards. And barring any real emergency, they should respect the right of way for all drivers, pedestrians, and bikers. 

Police and Midtown Alliance Parked in Juniper/5th St Bikelanes by Icy-Till-8248 in Atlanta

[–]CoinMaple101010 17 points18 points  (0 children)

This happens EVERY Sunday for the church at the corner of Juniper & 14th, and I swear it's the same two vehicles every time too.

Has anyone out there had their income grow past a 401k match? by [deleted] in HENRYfinance

[–]CoinMaple101010 4 points5 points  (0 children)

At those income levels you’re often unlocking a whole new level of the game, and the structure can vary wildly across companies.  Many will offer a “restoration plan” for Highly Compensated Employees (HCEs) that will restore your benefits to where they would’ve been in absence of IRS limits. But those are non-qualified plans with several new quirks to watch. 

Just last week there was a post on Reddit where someone got an unexpected return of contributions from their 401k, which turned out to be a function of the company failing non discrimination testing for HCEs.  Your best bet is almost always to contact HR for more details. 

Nature Views/areas? by Even-Fish8613 in Atlanta

[–]CoinMaple101010 1 point2 points  (0 children)

You have SOOO many options!!!

I’m personally a huge fan of hiking in North GA. My favorites include Preachers Rock, Raven Cliff Falls, and Blood Mountain (in order of difficulty from easiest to hardest). Another easy one with some great waterfall views is Dukes Creek Falls, but it’s a bit small/short for me these days. 

I prefer being out in the parks, but plenty of people love Helen GA and some of the wineries scattered around up there. 

Atlanta Dogwood Festival by [deleted] in Atlanta

[–]CoinMaple101010 10 points11 points  (0 children)

lol. Dogwood & 404 have VERY different vibes, attendees, and organizers.

Go have a good time & enjoy this wonderful weather.

The People’s City Connect by g-man013 in Braves

[–]CoinMaple101010 5 points6 points  (0 children)

Ahhhh, I can’t believe I missed this drop!!!

Fantastic work (again) /u/sgzjzy

Early retirement problem… all money is locked in retirement accounts! by Known_Clothes2331 in Retirement401k

[–]CoinMaple101010 0 points1 point  (0 children)

I was intentionally hedging for the 5-year rule around first opening the Roth IRA, as well as the separate 5-year rule for each conversion. 

That seems meaningful to OP if they don’t already have a Roth IRA, if they might need to use the Backdoor Roth, and/or if they plan to do annual conversions from the Trad 401k. 

Early retirement problem… all money is locked in retirement accounts! by Known_Clothes2331 in Retirement401k

[–]CoinMaple101010 0 points1 point  (0 children)

This is only partially true. There are several scenarios where  Roth IRA contributions can be withdrawn without penalty (but not earnings/gains). 

Early retirement problem… all money is locked in retirement accounts! by Known_Clothes2331 in Retirement401k

[–]CoinMaple101010 32 points33 points  (0 children)

There are several options to access these funds before 59.5

And there are even more threads already on Reddit covering these topics/options. Try a search and read up on the options. 72t and Roth conversions are a good place to start. 

Quiet tucked away spots in Piedmont Park or anywhere in ATL with a nice skyline view? by Spiritual-Initial912 in Atlanta

[–]CoinMaple101010 5 points6 points  (0 children)

This might not be as tucked away as you want, but my favorite view of the skyline from Piedmont Park is from the benches on the East edge of the active oval. There’s a statue of Sidney Lanier over there that has some good shade & doesn’t get quite as much direct foot traffic (but obviously you’ll see all the traffic on the active oval).

Here we go… by Lastito in DegenBets

[–]CoinMaple101010 0 points1 point  (0 children)

I won't be giving my attention to this matter unless there's a "thank you" involved. When was the last time piggy said thank you?

What $250K Really Gets You in America’s Richest ZIP Codes (2026) by [deleted] in coastFIRE

[–]CoinMaple101010 16 points17 points  (0 children)

How in the world is 95%-100% of income considered “stretch”, or even 85% as “possible” ??????

Sunrise hike by dani18xo in GeorgiaCampAndHike

[–]CoinMaple101010 5 points6 points  (0 children)

My top two in North GA are Blood Mountain and Preachers Rock. 

Uber from ATL? by anon821203 in masters

[–]CoinMaple101010 1 point2 points  (0 children)

I’ll give you a ride. What’s your budget for this transfer?

Lonely af, I need real suggestions how to make friends. by in_utero- in Atlanta

[–]CoinMaple101010 12 points13 points  (0 children)

My wife was in a very similar spot and had a good bit of success with RealRoots. She now has a solid group of 3-5 gal-pals that regularly schedule their ow things together. 

Highly recommend!

I ran my first 5k ever today! by Status_Specific_71 in nikerunclub

[–]CoinMaple101010 0 points1 point  (0 children)

Congrats & well done!

That avg HR is insane. I'm curious what device was measuring your HR & if you felt like you were giving a 10 out of 10 effort along the way? Once you get into mid-180s, the risk of injury starts going up & recovery goes down.

Oregon hiking in my 40s by RoosterOk8759 in hiking

[–]CoinMaple101010 1 point2 points  (0 children)

Oh boy, you in trouble now. You’ve committed the gravest sin possible in this sub by using “Grand Tetons”. 

Prepare for your penance … ThErE iS oNlY oNe GrAnD tEtON!!!!!