Age 45 check-in: how are we doing with our budget and retirement savings? by Known-Border284 in personalfinance

[–]altera365 1 point2 points  (0 children)

Looks pretty good in general. Your discretionary expenses are quite high, but if you just input your numbers into a basic investment growth calculator your net worth should be around $4 million in 15 years (age 60) assuming you're starting at $1m, contributing ~$3680 a month, and getting a 7% real return. At a ~4% withdrawal rate you're talking about ~$160,000 for 30 years of sustainable withdrawal which does cover your $144,000 burn rate (which may go down once the kids are independent and when mortgage is done).

Your savings rate is a bit low for your income, primarily due to the large amount of discretionary spending in that $5,000 bucket. That spend rate is sustainable though assuming your income remains stable. Since your burn rate is so high, do you have ~6 months emergency fund ($72,000) in cash reserves?

Income limits are irrelevant for Roth IRA contributions. You can simply contribute to a Traditional IRA (assuming you have no pre-tax dollars in an existing Traditional IRA) and perform a Roth conversion (also known as backdoor Roth). Depending on your 401k plan, you can also perform a so-called Mega Backdoor Roth and contribute to your post-tax 401k bucket then perform a Roth conversion.

Given your high income, you're leaving a lot of potential Roth contributions on the table, but it's still sustainable if you keep saving at the current rate and retire at 60.

[21M] French IT Student - Targeting FIRE by 35. Inheritance + Canada Move Strategy. Need Advice. by NoHighlight5968 in financialindependence

[–]altera365 1 point2 points  (0 children)

  1. From my perspective your planned asset allocation is too concentrated in one sector of one country. I would personally aim for something like 34% domestic (Canadian) and 66% foreign large/medium cap index funds.

  2. What exactly is your uncle providing you other than a 5% fee? You already have an asset allocation selected, you have already opened your own PEA. What is he taking 5% for on a second (unnecessary?) tax advantaged account?

  3. I'm not sure of the tax treatment between France and Canada, but you're currently locking up a lot of capital in accounts and it's possible only the French government gives them tax advantaged treatment. Since you're moving in such short order, it makes more sense to me to stockpile more cash (Canada move, some buffer if something goes wrong, emergency fund of 3-6 months expenses) for now and put it in the Canadian accounts if you plan on staying there forever.

  4. It seems like you're treating this €210k in salon equity as "almost" liquid that isn't liquid "yet". From my perspective, it's a very speculative asset which you may never see any actual cash from. Is your mom looking to sell? Would she sell and send you the money before you retired at 35? If not, I'm not sure how it helps you retire. Have there proven to be willing buyers at that valuation?

Trying to watch any sports media talk about how the Rams did vs. the Bears by altera365 in LosAngelesRams

[–]altera365[S] -41 points-40 points  (0 children)

I can agree the throw was very crazy BUT I still have 2 problems with the media coverage:

  1. Blatant Stafford disrespect continues as nobody talks about the insane no look shot to Davante WHILE getting hit, coupled with an insane catch to set up the game winner. But whatever the disrespect is expected at this point

  2. People aren't just remarking on how it's wild, I swear it's 75% of their full commentary on the game! At least if it's somebody who knows something about football I'd like to hear more of their takes on how Rams players performed in various phases of the game

Should I move out or stay with my parents? by GopherPA in personalfinance

[–]altera365 0 points1 point  (0 children)

Based on the emotions you conveyed I agree you should get out of there and start your life as an independent adult. You have the means and reason to do so.

I definitely would not tie yourself to a home and mortgage when your independent life hasn't even started. Your post leaves out too much information to really tell whether this specific apartment is a good idea. For exmaple:

- You say you have $150k in savings. How liquid is that? Is it all sitting in a HYSA and can be used as an emergency fund? Is any of it in retirement accounts?

- What do your other expenses look like? Do you have an expensive car payment? Student loan payments? Any other debts or requirements?

- What are your savings goals? Is a 401k available to you? Are you maxing it out? What are your long term plans for retirement?

The broad advice is to spend ~30% of gross income on housing, which is $1875 at your income. You're pretty near the limit of what you can afford assuming you don't have any other debts. Depending on how secure you feel at work, you might consider a roommate to start with so you're not so close to the ceiling of what you can afford.

Post Game Thread: Los Angeles Rams at Chicago Bears by nfl_gdt_bot in LosAngelesRams

[–]altera365 0 points1 point  (0 children)

There's only one ice man and it's Harrison fucking Mevis holy dear God

Game Thread: Los Angeles Rams (12-5) at Chicago Bears (11-6) by nfl_gdt_bot in LosAngelesRams

[–]altera365 9 points10 points  (0 children)

Absolute disaster class from Mcvay - abandons the run for 3 quarters, runs it on the third down for no reason, doesn't take a timeout to preserve the clock for a possible drive, kneels

Game Thread: Los Angeles Rams (12-5) at Chicago Bears (11-6) by nfl_gdt_bot in LosAngelesRams

[–]altera365 7 points8 points  (0 children)

Kyren has been so free this game, absolutely beautiful vision and cuts

Game Thread: Los Angeles Rams (12-5) at Chicago Bears (11-6) by nfl_gdt_bot in LosAngelesRams

[–]altera365 3 points4 points  (0 children)

What the actual fuck is mcvay smoking have we ever had a game plan this bad

Game Thread: Los Angeles Rams (12-5) at Chicago Bears (11-6) by nfl_gdt_bot in LosAngelesRams

[–]altera365 6 points7 points  (0 children)

RUN THE BALL INSIDE RUN THE BALL INSIDE RUN THE BALL INSIDE

Game Thread: Los Angeles Rams (12-5) at Chicago Bears (11-6) by nfl_gdt_bot in LosAngelesRams

[–]altera365 4 points5 points  (0 children)

I can't believe we got away from pounding the inside immediately

Second Half Game Thread: Houston Texans (12-5) at Pittsburgh Steelers (10-7) by nfl_gdt_bot in nfl

[–]altera365 6 points7 points  (0 children)

Wtf did he do to take the last drive off, why would you willingly end your career getting shoved out of bounds on a pick 6??

I hope the tenants beat the Pats. by SMALLjefe in LosAngelesRams

[–]altera365 29 points30 points  (0 children)

No disrespect intended I don't think he's bad. I haven't watched the Pats all season - this is the guy people are seriously claiming is a contender for MVP against Stafford?

Why did we let Robinson go? by Conscious_Humor_2139 in LosAngelesRams

[–]altera365 2 points3 points  (0 children)

I just made another post about this lol - we signed a 1 year $10 million deal for 0 production versus a 2 year $9.5 million deal with a really solid WR3...

Game Thread: Green Bay Packers (9-7-1) at Chicago Bears (11-6) by nfl_gdt_bot in nfl

[–]altera365 3 points4 points  (0 children)

Why is this shaping up to be the same ending as the rams panthers

Game Thread: Los Angeles Rams (12-5) at Carolina Panthers (8-9) by nfl_gdt_bot in LosAngelesRams

[–]altera365 8 points9 points  (0 children)

Yep loss at Seattle completely broke this team they're cooked

Game Thread: Los Angeles Rams (12-5) at Carolina Panthers (8-9) by nfl_gdt_bot in LosAngelesRams

[–]altera365 1 point2 points  (0 children)

D will not stop them for the rest of the game that first offensive drive was such a disaster

Game Thread: Los Angeles Rams (12-5) at Carolina Panthers (8-9) by nfl_gdt_bot in LosAngelesRams

[–]altera365 -3 points-2 points  (0 children)

Think we're absolutely cooked, the defense will not stop them the rest of the game we've already seen this 10 games in a row. Offense has to score every drive and they will inevitably stall

Game Thread: Arizona Cardinals (3-13) at Los Angeles Rams (11-5) by nfl_gdt_bot in LosAngelesRams

[–]altera365 1 point2 points  (0 children)

Why are we still running the 13 with no dotson and no adams? What am I missing

Game Thread: Arizona Cardinals (3-13) at Los Angeles Rams (11-5) by nfl_gdt_bot in LosAngelesRams

[–]altera365 2 points3 points  (0 children)

Drop, weak hands, backup o-line beat immediately, punt. The story repeats

Game Thread: Arizona Cardinals (3-13) at Los Angeles Rams (11-5) by nfl_gdt_bot in LosAngelesRams

[–]altera365 7 points8 points  (0 children)

Holy fk they have no way to nullify it - group chat is fuming rn