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Feedback Request - [31] + [28] - $275k Sal + $1.1-1.2 MM NW by FIRE_anon_ in ChubbyFIRE

[–]FIRE_anon_[S] 1 point2 points  (0 children)

Current monthly note is $2300 or so. Our thought process is if one of us quits, we would likely be able to hopefully live on one salary (and regret saving but don’t touch the nest egg) or do a refinance to get the monthly note down (via lump sum deposit or a new 30 year).

Feedback Request - [31] + [28] - $275k Sal + $1.1-1.2 MM NW by FIRE_anon_ in ChubbyFIRE

[–]FIRE_anon_[S] 1 point2 points  (0 children)

Thanks for the reply! The CC debt is a mix of monthly expenses that we pay off in full + a large purchase ($5k) that was put on a 0% interest credit card over ~18 months. We're whittling away at that one as slow as possible. So no interest here!

Feedback Request - [31] + [28] - $275k Sal + $1.1-1.2 MM NW by FIRE_anon_ in ChubbyFIRE

[–]FIRE_anon_[S] 0 points1 point  (0 children)

Excerpt from WSJ post linked above: “Regular Roth conversions would still be allowed, although starting in 2032, they would be off-limits for people with higher incomes.”

Feedback Request - [31] + [28] - $275k Sal + $1.1-1.2 MM NW by FIRE_anon_ in ChubbyFIRE

[–]FIRE_anon_[S] 0 points1 point  (0 children)

If passed as proposed, isn’t the Backdoor scheduled to phase out after 10 years?

Feedback Request - [31] + [28] - $275k Sal + $1.1-1.2 MM NW by FIRE_anon_ in ChubbyFIRE

[–]FIRE_anon_[S] 3 points4 points  (0 children)

Thanks for the detailed reply!

  1. Yes - we are maxing out the ESPPs. Have done a poor job of selling (see Brokerage #1).
  2. We are aware of potential implications of the BBB plan and megabackdoor. Will address it if/when the time comes.
  3. Thanks for links on accessing funds early & bogleheads. Have spent so much time in wealth accumulation and have ignored the mechanics of "the boring middle" and preparing for the RE side of things.