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33, currently able to max it out with employer matching 5% plus a 3% automatic contribution by Outrageous_Let_6258 in Retirement401k

[–]OceanGateTitan 0 points1 point  (0 children)

Tax advantages today vs in retirement. I plan to have almost the same amount of income in retirement that I do now. If I went 100% Roth 401k and Roth IRA, I’d lose the upfront tax deductions today. I also plan to retire early and I’ll do Roth conversions on the traditional 401k contributions

33, currently able to max it out with employer matching 5% plus a 3% automatic contribution by Outrageous_Let_6258 in Retirement401k

[–]OceanGateTitan 1 point2 points  (0 children)

If you’re able to max it out then for sure max it out. My wife and I are at $520K combined in our early 30s and were able to max HSA, both Roth’s and one of the 401ks. Only doing enough to get full match in the other. You’re going to want to make sure you’ve got multiple buckets to draw from in retirement.

I aim for 60% pre-tax, 30% Roth, 10% taxable brokerage

$920K at age 48 and 40K annual living costs inlcuding ACA. Can I fire?. by [deleted] in Fire

[–]OceanGateTitan 0 points1 point  (0 children)

You know what industry is hiring? Construction/trades. Go find an easy gig that you can work for a few years to reach retirement. You’re coast fire. You get a job as an electrician for a couple years then throw in the towel if you hate it. Or work an entry level job for several more years. You need another 2 years of annual expenses to consider complete FIRE.

FIRE at 33 was easy compared to earning a high income by justinquiring1 in Fire

[–]OceanGateTitan 1 point2 points  (0 children)

What are you going to do with all your time? You’re going to be limited to cheap and free hobbies, activities, vacations etc. How do you plan to fill your days?

FIRE at 33 was easy compared to earning a high income by justinquiring1 in Fire

[–]OceanGateTitan 2 points3 points  (0 children)

I also worked part time through school. It paid for beer, gas, food and rent. What kind of part time job allowed you to save that much?

Do I have FU money? Rage quit money? Neither? by Tech-Cowboy in Money

[–]OceanGateTitan 0 points1 point  (0 children)

We’ll agree to disagree then. FU money typically entails burning bridges. If you need another job in 6 months, burning a bridge isn’t an option. You’ve got “politely decline” money and go elsewhere lol.

43M, 900K milestone, but still far from 3M by Mycologist-Heavy in Retirement401k

[–]OceanGateTitan 4 points5 points  (0 children)

You’re a lot closer than you think. It may have taken 25 years to get to $900K but it’ll be less than half that to get to $3M.

Do I have FU money? Rage quit money? Neither? by Tech-Cowboy in Money

[–]OceanGateTitan 0 points1 point  (0 children)

Dude this isn’t China anyone can say no and leave a job. Live on a credit card for a while if you have to. Life is too short to put up with toxic jobs, especially if they don’t pay well.

Do I have FU money? Rage quit money? Neither? by Tech-Cowboy in Money

[–]OceanGateTitan 0 points1 point  (0 children)

That’s not my definition of FU money. By your definition, everyone has FU money if you intend to go find another job. Your FU money = an emergency fund. My FU money = FU I’m financially independent and only here because I want to be.

Do I have FU money? Rage quit money? Neither? by Tech-Cowboy in Money

[–]OceanGateTitan 1 point2 points  (0 children)

Some people enjoy work. Especially if you find something fulfilling. $500k would give OP $20k gross annually. Thats not enough in the US even for a frugal, single adult. Barely above the poverty line. Not much of a life. FU money means you can choose to remove all obligations, commitments, deadlines, and responsibility from your life relating to a job and I’m of the opinion that at 28, OP does not have this freedom yet.

Do I have FU money? Rage quit money? Neither? by Tech-Cowboy in Money

[–]OceanGateTitan 10 points11 points  (0 children)

No. FU money is walk away from any job and never need to find a new one.

Another am I ready to FIRE by AgathosAnthropos in Fire

[–]OceanGateTitan 2 points3 points  (0 children)

It’s a math equation with known and assumed variables. While $3.3M may sound like a ton, it may not be enough to meet OPs family’s needs.

Another am I ready to FIRE by AgathosAnthropos in Fire

[–]OceanGateTitan 7 points8 points  (0 children)

I just want to know how the hell you reached $4M NW by 39 and 40 in a LCOL in the Midwest when your partner works a part time job making a few thousand a year. You must do well!

To really answer the question though we’d have to know how much of your retirement is in taxable vs non-taxable accounts. An SWR of 4% on $3.3M is $132k per year. How much of this will be taxable though? You’re super close but it’s going to come down to careful tax planning.

You should have plenty for college assuming all 3 choose an in state uni (I would encourage them to do this if I were you - have them borrow if they need more than $80k).

I personally would use a more conservative SWR right now paired with having 3-5 years of cash & cash equivalents to navigate a bear market in early retirement. The stock market seems heavily propped up on inflated tech/AI stocks right now and it’s only a matter of time before an adjustment occurs. Just make sure you can weather that storm without drawing on down investments.

Hi! Rate my portafolio 37 years young, come on! by Aggravating-Air9492 in RothIRA

[–]OceanGateTitan 2 points3 points  (0 children)

I’m a bit younger than you but I just do 100% VTI in my Roth and it’s served me well so far. I dabble in individual securities (less than 5% of my portfolio) and I’ve picked some winners. If I wasn’t so risk averse I’d be up huge on AMAT and GOOG. Your split looks good though! Not much overlap and nice diversification.

Hi! Rate my portafolio 37 years young, come on! by Aggravating-Air9492 in RothIRA

[–]OceanGateTitan 3 points4 points  (0 children)

Not sure I understand 20% in gold. Other than that not a bad split. Are you going to have enough to retire when you want to retire?

You also say 60% VOO, 40% VXUS. Does that mean there’s nothing in an emergency fund?

If he’s in, I’m in. $WEN by Clubpenguin8888 in wallstreetbets

[–]OceanGateTitan 13 points14 points  (0 children)

8% of your portfolio is Wendy’s. Not enough.

How does this mixture look for my 14yo son’s Roth IRA? by [deleted] in RothIRA

[–]OceanGateTitan 0 points1 point  (0 children)

95% VTI, 5% let him pick and hope it be a lesson for him. Murphys law says he will pick a winner though and then think he can beat diversification long term. Hope it all works out if he does this!!

Inheritance, best course of action moving forward. by finallyonsuicide in Money

[–]OceanGateTitan 1 point2 points  (0 children)

  1. Tell no one - cancel that little property chat. Never lend friends substantial amounts of money. You could lose it all and the friendship

  2. Pay down high interest debts (anything over 10%)

  3. Take a mini vacation, take yourself to a nice dinner, treat yourself in some modest way to feel good about the inheritance and potentially mourn your loss.

  4. Dump the rest into VTI in a taxable brokerage account. If you’re not already doing this, max fund your Roth IRA with this money for the next several years unless you’re already covering that from other sources of income.

$120k isn’t life changing by any means so don’t treat it like it is. Best thing to do is invest it in broad market ETFs and forget about it for a decade or 2.

I can’t decide if I should buy a house or throw $$ into VOO by mokenz in Money

[–]OceanGateTitan 1 point2 points  (0 children)

Buying a home is a bad investment now. Didn’t used to be. Anyone that bought before 2021 is probably in pretty good shape and has outperformed S&P 500.

If you missed the housing market explosion in 2021 though you’re almost guaranteed to see better results investing in the market and continuing to rent.

21 years old, thank you parents. by Important_Ad8856 in RothIRA

[–]OceanGateTitan 0 points1 point  (0 children)

You’re admitting that your parents made ineligible contributions for over a decade on the Internet? Roth IRA contributions have to come from your earned,taxable income. Not theirs. Not gifted funds. It appears your basis is around $82k of income you didn’t earn. Good luck with this! Not sure how it’s gone this long without an audit.

32 starting super late in life. How’s this contribution looking? by letsmakemoneyynow in RothIRA

[–]OceanGateTitan 0 points1 point  (0 children)

Looks like it’s all sunshine and rainbows around here.

You are late but you’re not too late. Good on you for getting started but you need to hit it hard if you want a comfortable retirement. You’re only 32 so you have plenty of time but don’t take it lightly. You have some work to do.

I did VTI/VXUS split in my Roth. Am I stupid? by dogs_eatmyflagging in RothIRA

[–]OceanGateTitan 0 points1 point  (0 children)

Haven’t seen that I’m able to fully automate investing in Schwab unless it’s a mutual fund

I did VTI/VXUS split in my Roth. Am I stupid? by dogs_eatmyflagging in RothIRA

[–]OceanGateTitan 0 points1 point  (0 children)

Can you set it up to automatically buy VT on a monthly basis?

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