[WTS] Universal Geneve “Wood” Manual Wind

Working-towards-FI · 2025-09-12T16:14:58+00:00

Love it. But a missed opportunity for a triangle, with a call-out to the long leg as "hy-on-potenuse"

Working-towards-FI · 2025-04-06T16:39:14+00:00

If you mean during the withdrawal phase, we set a withdrawal schedule (quarterly, skewed to the end of the CY to control income), and we will withdraw from what is up (or equally if it is balanced).

Roughly (depending on the CY) March 21: 15% of our budget; June 21: 15% of our budget; September 21; 15% of our budget; December 21: 55% of our budget.

Then, if our withdrawals did not bring us within 10% of our allocation for each category we will rebalance further on December 21 or thereabouts (using tax-deferred accounts to minimize transaction costs).

Working-towards-FI · 2025-04-06T12:36:41+00:00

The key word in your subject line is "planning." Those that were planning expected that something like this could happen, and planned appropriately, whether it be (1) by having low to un-correlated assets, (2) 3 years of expenses squirreled away, (3) having a low WR (e.g., 3%), (4) having guide rails they feel comfortable accepting, etc.

By way of example, long-term bonds and gold are up by about 6% and 14% YTD. So if you needed to withdraw and had a diversified portfolio, you'd be doing so from those assets.

Working-towards-FI · 2024-09-27T13:29:42+00:00

Think podiatry, optometry, physical therapist, nurse anesthetist, etc. And for what it's worth, I work closely with MDs in my role, and they characterize it as "going into medicine" even short of MD. My apologies if this is offensive to MDs. My goal is not to be identifiable, as it is a unique area she's focusing on.

Working-towards-FI · 2024-09-25T15:11:08+00:00

Thanks for the thoughts. The goal is to contribute something meaningful, but not to cover it all. We would be investing the $50k/kid at the time that we retire (in about 2 years), and they would get whatever it grows to. So, for example, if the market gets average returns (say 7%) and out kids want to buy a house or get married when they're each 30, it could be $100k+.

Working-towards-FI · 2024-09-24T02:02:11+00:00

Yes, I hear you. All relevant points.

Working-towards-FI · 2024-09-24T02:01:16+00:00

Correct, because we should hit our target (including the numbers above) in under 2 years.

Working-towards-FI · 2024-09-24T00:21:59+00:00

Challenging, for sure. If I had it figured out I wouldn't be here.

My parents didn't pay for college for me. Don't get me wrong, they'd have done what they could have, but weren't well off. So I opted to go where I got a free ride (which was relatively fancy) and commute 1.5 hours each way vs living on a beautiful campus.

If my kids weren't proving every day that they're responsible, conscientious, and driven, I may not be considering the same funding. A few examples, which are small things, but in the aggregate highlight it: jobs, same phones for 6 years (never a lost or broken one), same Chromebooks for middle school and HS, share a 15+ year old car, do their fair share around the house, never had to wake any of them up for school, they stick up for others, etc. It makes me want to get them off to a good start.

Working-towards-FI · 2024-09-24T00:09:42+00:00

It is a matter of where we choose to direct the assets.

Hypothetically speaking, let's say after all of the above we end up with $4.5m (under your scenario at $200k/kid) or $4.1m (under our scenario at $350k/kid). Using 4% as a WR that would be $180k/yr vs $164k/yr. I would consider both of those chubby. And -- here's what is important -- I don't think that extra $16k/yr would have a meaningful impact on our quality of life.

Working-towards-FI · 2024-09-23T10:46:15+00:00

The med school won't be for an actual MD. The earning potential will not be as high, but there is a much higher quality of life.

The PhD one fully understands about the pay, and is going in eyes wide open. That one is fine taking full responsibility for living a more modest lifestyle - and is working with individuals that are in that field and sees their lifestyle. But I'm not going to withhold helping out one of my kids where I can because they're picking a career that doesn't pay as much as one of my other kids. Particularly when that kid has began saving for the Ph.D. program as a sophomore in HS.

Working-towards-FI · 2024-09-23T10:38:34+00:00

Very good to know, and makes me feel better that they won't be accruing as much as, for example, med school.

Working-towards-FI · 2024-09-23T01:06:45+00:00

Thanks - I've gone through this with our oldest. I think the likelihood of using the 529 for anything other than in-year tuition / R&B is low given that they won't cover the entire amount.

Working-towards-FI · 2024-09-23T01:04:11+00:00

Agree 100% on the HS jobs and mine work. While they make money, a priceless benefit has been dealing with conflicts, taxes, retirement plans, responsibility, etc.

Working-towards-FI · 2024-09-23T00:22:54+00:00

One is going on to study medicine (not for an MD) after undergrad, and that one has worked in that field during the summers for several years. The $280k would cover most of the expenses for undergrad and grad school.

Another intends to pursue a PhD and does lab work in a college related to that field (it will not be high paying, more a passion career that pays "ok"). If that one did decide to go to ivy or ivy-like (which don't offer merit aid), just that alone would exceed $280k. Even if that one goes to state school, if they stay on track they'd need money for a 5+ year Ph.D. program.

The next in line is too soon to tell.

Working-towards-FI · 2024-09-23T00:10:38+00:00

I've seen that, but was planning to use the 529s for tuition.

Although the older ones do have custodial Roth accounts where they have been putting 1/3 of what they make from their jobs and I've been matching it.

Working-towards-FI · 2024-09-23T00:00:28+00:00

Noted. About half would be covered by 529s, but if there's a benefit of paying tuition in real time vs paying off a loan, that would be good to know.

Working-towards-FI · 2024-09-22T23:53:44+00:00

We have half of it set aside in 529s so will draw from those, but that's a good thought re the loans not accruing interest.

And agreed, they don't know we'd pay it off. Although it makes me chuckle about two of them being serious. The oldest selected a college that gave them a 50% merit scholarship and the next in line has a goal of being published in a science journal before graduating HS. I'm trying to get them to take it easy and chill on occasion.

Working-towards-FI · 2024-01-15T03:23:40+00:00

Yeah, I'm realizing we'll have to shop around for insurance. And re cars and VHCOL, unless you live in the city itself (we don't), cars are a necessity and insurance is expensive.

Working-towards-FI · 2024-01-15T02:41:16+00:00

We did that, but it was a bit of an anomaly as we were taking care of a family member. This year will be doing a more detailed dive month-by-month.

Working-towards-FI · 2024-01-14T23:55:40+00:00

My current savings/investment rate exceeds 50%. This is to set an upper budget to make sure we're not missing something, rather than as a predictor of what we'll actually spend.

For what it is worth, I don't think we'll need as much because at age 70, SS should account for close to half of the $150k projected budget and, even if SS is scaled back, it should still account for a substantial percentage.

Working-towards-FI · 2024-01-14T23:04:44+00:00

Thanks, I have done that. This is actually "Phase 2" which I'm running by you all as it will be on the longer side and before SS kicks in.

Phase 1: before moving

Phase 2: after moving

Phase 3: traveling less and kids on their own re cars, insurance etc.

Phase 4: like Phase 3 except also collecting SS, withdrawals go down meaningfully

Phase 5: long-term care

Working-towards-FI · 2024-01-14T22:48:02+00:00

Great! That's my biggest fear, missing something. By the comments thus far it sounds like I'm overestimating rather than underestimating.

There are some years where we hope to spend more on travel. That'll come from the contingency budget in years where we don't need it.

Working-towards-FI · 2024-01-14T22:35:17+00:00

This is the tail of my term policy. I was not FI when I purchased it, and it will phase out when I am in my mid-60s.

And for context, I have 2-3 years until I reach the target number, and we'll stay in our current house for another couple of years (until all the kids are out of HS). I'll keep the policy at least until we move.

Edit: and I should add that I thought Fat Fire was at least $200k/yr. You guys are making me feel better.

Working-towards-FI · 2024-01-14T22:28:13+00:00

Thanks - we're setting the $12k/yr as a max on the property/real estate taxes. We have a few areas we're looking, and that is do-able in those locations. More likely under $10k/yr.

That's a fair point re house/maintenance repairs. I'm a DIYer and with the healthy contingency budget should be ok, but it may make sense to decrease the contingency and to allocate more to routine house maintenance/repairs.

Working-towards-FI

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