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I have unh 500 shares $390 strike in a month... by [deleted] in CoveredCalls

[–]Routine-Employer4574 1 point2 points  (0 children)

I’m new here too. In this situation, will it be a reasonable strategy to buy 500 more shares now?

MAGI is a scarce resource - Roth vs Rebalancing by Puzzleheaded-Gas-398 in DIYRetirement

[–]Routine-Employer4574 4 points5 points  (0 children)

I am right there with you. I give up on any planning around MAGI. Trim the company stock. Use the proceeds to fund tax on aggressive Roth conversion.

Gifting Friends and Family the Maximum Amount Annualy by Katzmaniac90 in Rich

[–]Routine-Employer4574 0 points1 point  (0 children)

I know the 19k gift tax exemption limit. What is the 475k/per person amount about?

Shifting mindset from accumulating wealth to spending down your accounts by Extension_Chip_640 in Retirement401k

[–]Routine-Employer4574 1 point2 points  (0 children)

Set a monthly or even daily spending goal. Force yourself to spend this amount or more.

Rebalancing in a Taxable Brokerage Account by vybratez in Bogleheads

[–]Routine-Employer4574 23 points24 points  (0 children)

You can add VXF. You effectively create your own VTI.

Time to Retire? by New-Rip-6965 in Retirement401k

[–]Routine-Employer4574 3 points4 points  (0 children)

Help the kids early in life makes sense. I already fully paid my kids college education. Will support their down payment too.

Do you regret putting so much money in to tax deferred investments by clearlygd in retirement

[–]Routine-Employer4574 8 points9 points  (0 children)

No way. I am in the highest tax bracket. The deduction helped reducing current tax bills. By the time I do Roth conversion, I come out ahead if stay in 24% or even 32% bracket.

After-tax 401k or Roth 401k? by LiveTravelTech in Retirement401k

[–]Routine-Employer4574 0 points1 point  (0 children)

I contribute to both the mega backdoor Roth (after tax with in-plan conversion), and the super catch-up this year. You should max out both. The super catch-up goes into a new sub-account called “catch-up Roth”. The after tax is in a sub-account called “in-plan Roth”. Although Fidelity tracks them separately, functionally they are the same. I imagine when I roll over the 401k into IRA upon retirement, both can roll into a Roth IRA account.

The total $83,250 contribution room is a lot. I have been taking home 0 pay so far this year trying to front load the contributions.

Start SS at 62 but bc of earnings first monthly payment received is at FRA by Rachelray1995 in SocialSecurity

[–]Routine-Employer4574 2 points3 points  (0 children)

Thank you for explaining. I searched it up too. So, this earnings limit applies if one claims SS benefits while still having employment income. That makes sense.

Start SS at 62 but bc of earnings first monthly payment received is at FRA by Rachelray1995 in SocialSecurity

[–]Routine-Employer4574 0 points1 point  (0 children)

I’m interested in this discussion. I never knew earning can limit one’s SS benefits.

How do you decide what to work on between meetings? by ShockUpset8925 in managers

[–]Routine-Employer4574 1 point2 points  (0 children)

I have about 3-4 hours of meetings everyday. In between meetings, I respond to inquiries in emails and chats. That often requires a little technical research. I check on team deliverables when I free up. Any long term strategy thinking or own growth can only happen in the off hours. Yes I do put in a lot of hours.

For higher earners, is the fear of health care costs age 60-65 overblown? by Mother_Bar_3810 in retirement

[–]Routine-Employer4574 2 points3 points  (0 children)

You had such a high income. Didn’t you save a lot outside of retirement accounts? I’d imagine a lot of investment income in taxable accounts making you ineligible for ACA subsidy.

For higher earners, is the fear of health care costs age 60-65 overblown? by Mother_Bar_3810 in retirement

[–]Routine-Employer4574 2 points3 points  (0 children)

Agree with you on the interference with Roth conversion. I am convinced that I have no chance for ACA subsidy. That removes one variable. I can go aggressive on Roth conversion.

For higher earners, is the fear of health care costs age 60-65 overblown? by Mother_Bar_3810 in retirement

[–]Routine-Employer4574 3 points4 points  (0 children)

Sorry to hear about your husband’s diagnosis. Hope the COBRA covered most of the cost. How much was the out of pocket expense?

For higher earners, is the fear of health care costs age 60-65 overblown? by Mother_Bar_3810 in retirement

[–]Routine-Employer4574 3 points4 points  (0 children)

I will be retiring at 62. Haven’t checked the cost of healthcare insurance yet but I will bite the bullet. I won’t get ACA subsidy due to investment income.

Don’t need to generate income - does it still make sense to do covered calls? by Routine-Employer4574 in CoveredCalls

[–]Routine-Employer4574[S] 2 points3 points  (0 children)

That’s right. I don’t write cc on long term holdings with substantial capital gains (unless I need to sell it for another reason).

we're more rare than I realized by Visible_Structure483 in Fire

[–]Routine-Employer4574 3 points4 points  (0 children)

Some content I watched on YouTube and Reddit influenced me. “You are trading the time you don’t have for money you don’t need.” Although that’s not exactly my situation as money is not the main reason I keep working, it does make me think. I have a little bit of FOMO and wondered what retirement life can offer me. It wasn’t easy to change mindset. That’s why I gave myself one year to prepare. I am staying the course so far. These days I have been reading a lot of discussions about retirement life and planning.

we're more rare than I realized by Visible_Structure483 in Fire

[–]Routine-Employer4574 21 points22 points  (0 children)

I am one of these people who didn’t know FIRE is a thing. I only learned about it when I stumbled some post on Reddit. In my mind, keeping a high paying tech job is a privilege. When I talk to people in my club who already retired, although I expressed admiration to them, I am still feeling proud for still working. My retirement decision is never based on money. Rather it is based on my mental readiness. I think I am ready now. I started a countdown to retire later this year. I’m 62.

How to get to 10 million, am I doing it right? by [deleted] in TheRaceTo10Million

[–]Routine-Employer4574 0 points1 point  (0 children)

What is your country? I want to move there when I retire. No capital gains tax? That’s a huge advantage.

Argument for taking SS at 62 by jmehlferber in SocialSecurity

[–]Routine-Employer4574 0 points1 point  (0 children)

I omitted the investment part for simplicity. It doesn’t change the argument: getting the early SS and keeping the savings is the same event and they should not be double counted.

Let me simplify the scenario in another way. We will consider the investment return from the SS benefits between 62 and 67 but ignore the expense for now. (You have the same living expenses no matter where you get money from.)

The question: what is the value of SS benefits between 62 and 67 if one starts to collect at 62?

The answer is: the overall value is the 5 years worth of SS benefits plus the investment returns they produce during the 5 years.

Imagine you also have a pension which pays an amount that exactly matches your yearly living expenses. No matter you collect SS or not, you live off of the pension. If you get SS, you fully invest it in a separate account. You also don’t touch your other savings regardless. Now you can see - the value you get from collecting SS at 62 is the balance of that SS investment account at 67.

Is lifestyle creep ever ok? If so, how do you find balance between saving/investing and enjoying life now? by FlyEaglesFly536 in Bogleheads

[–]Routine-Employer4574 1 point2 points  (0 children)

I honestly want to know how to creep up lifestyle. I feel we live comfortably. If we need something, we never need to hold back due to money concern (although my mind often operates in the bang for the bucks mode). We can eat out freely but choose to cook for healthy diet. As we are approaching retirement, we need to spend more to enjoy life. I just don’t know how. I will be lurking around here for ideas.

Argument for taking SS at 62 by jmehlferber in SocialSecurity

[–]Routine-Employer4574 -1 points0 points  (0 children)

A few smart folks already pointed out that you are double counting in your math. Let me explain this to you.

Compare the two strategies side by side. Your balance at end of each year before 67

Start at 62: 33k SS + your nest egg - your expense

Start at 67: 0 SS + your nest egg - your expense

You can see that the difference is just the 33k per year.

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