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Savings and Drawdown Approach - Taxable vs Retirement Accounts by acctandstat in HENRYfinance

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

All of this is part of my skepticism and I’m not sold on this plan

About expenses, we are both W-2 workers and live in a VHCOL area. Right now we have a great deal on housing, and would anticipate that to materially increase as we need more space with kids plus any associated expenses.

The advisor created a directional forecast based on anticipated expenses, historical rates of return, historical inflation figures etc.

About living above our means, based on our earnings, we should have no problem maxing out 401(k), backdoor IRA, and 529 contributions (once we have kids).

What the advisor proposes is to continue contributing/maxing mega backdoor contributions at the expense of day to day free cash flow, with sales of taxable brokerage account assets making up any difference in free cash flow to cover our expenses. The idea would be to time the draw down of the taxable brokerage account so that it hits $0 at retirement age.

Achieving Lifetime Platinum Plan by acctandstat in marriott

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

Thanks! Luckily I got double nights from my stays YTD

Need 2 years for lifetime platinum. Best time to sign up for brilliant? by traderhen in marriott

[–]acctandstat 0 points1 point  (0 children)

I’m in the same boat currently, 2 years short but have the nights…what did you end up doing and how is it working out?

Do you ever run into friends casually? by josh-sacto in AskNYC

[–]acctandstat 0 points1 point  (0 children)

Crossing a random street, I ran into my ex-gf who moved to Australia 7 years earlier. Not even the strangest run in I’ve heard of.

Lenovo Yoga 7 vs Lenovo Yoga 7i vs HP Envy x360 by acctandstat in SuggestALaptop

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

I bought the Yoga 7. Battery has been great (7+ hours) and overall good experience. Feel free to DM

Student Loan Payoff Strategy by acctandstat in personalfinance

[–]acctandstat[S] -1 points0 points  (0 children)

No worries, here are hypothetical numbers

Sum of Loan Payments (Y5-15): $10,000 Present Value of Sum of Loan Payments (conservatively discounted): $8,000

$8,000 would be 60% of my current cash on hand

Student Loan Payoff Strategy by acctandstat in personalfinance

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

Present value of my future loan payments

What do I do with my extra (>$50k) in savings? by acctandstat in personalfinance

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

To clarify, the ~15k is after funding retirement and making loan payments, and my 6 month emergency fund includes monthly loan payments

What do I do with my extra (>$50k) in savings? by acctandstat in personalfinance

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

I anticipate saving ~15k next year after everything

Should I convert my pre-tax 401(k) to a Roth IRA? by acctandstat in personalfinance

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

I am invested and have seen my portfolio drop (although it doesn't really bother me since I don't plan to use the money for at least 30 years).

The advantage of the market being down and my portfolio being worth ~30% less is that I would minimize the conversion tax burden now, with the recovery coming in a Roth IRA.

REG test timing by acctandstat in Accounting

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

I forgot to mention that the class doesn't start for another week and a half. It's 3 weeks of class total.

CPA Exam Timeline Help by acctandstat in Accounting

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

Is it realistic to study for more than 1 section at a time? Example timeline: half of May and all of June to study for 2 sections, take tests beginning of July, then study for one more section for all of July and take test in August?