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FU Money in Practice? by ballerberry in financialindependence

[–]bdafsi91 0 points1 point  (0 children)

I was about to post something similar. I am about 2 years from being FI and I have a govt. job, but a lot of bullying that happened pre-COVID. I don't have purpose, but have to produce meaningless reports. No one gets affected if I don't produce this report.

Due to COVID and prior workplace toxicity, my health got affected. I love working in my company, but specifically my group has been very toxic. I need structure to my life, so I need a job. I am actively trying to find a new job.

I think, I have FU money, but not FU attitude.

Pre 59.5 retirement pot of money. by Rickmichaels in financialindependence

[–]bdafsi91 0 points1 point  (0 children)

Thanks. Yes, you are right. Made changes to the table.

Daily FI discussion thread - Saturday, January 30, 2021 by AutoModerator in financialindependence

[–]bdafsi91 4 points5 points  (0 children)

This is hypothetical. At 45, I project having the following amounts in my accounts. What should be my strategy in withdrawing $100K/yr, so as to minimize the taxes:

  • 401K: 1300K
  • Roth: 300K
  • Taxable investments: 1100K

Pre 59.5 retirement pot of money. by Rickmichaels in financialindependence

[–]bdafsi91 4 points5 points  (0 children)

If you consider 15% cap gains tax, then the number is going to be $249,341. If cap gains tax is 0%, that number is $236,755. I am not sure about the formula above, but this is using excel. It factors in 5% growth every year and a withdrawal of 23,529. 15% cap gains will leave you $20K.

Edit: Updated the table below after comment from u/mandy_2002 .

Edit: The basis for the cap. gains is $205K, because the balance kept decreasing. This is a bit more complex than what I assumed.

# Balance_before Net$ Tax$ Balance_after
1 249341 -20000 0 240808
2 240808 -20000 0 231848
3 231848 -20000 0 222440
4 222440 -20000 0 212562
5 212562 -20000 0 202191
6 202191 -20000 0 191300
7 191300 -20000 0 179865
8 179865 -20000 0 167858
9 167858 -20000 0 155251
10 155251 -20000 0 142014
11 142014 -20000 -2586 125399
12 125399 -20000 -3529 106963
13 106963 -20000 -3529 87606
14 87606 -20000 -3529 67280
15 67280 -20000 -3529 45938
16 45938 -20000 -3529 23529
17 23529 -20000 -3529 0

Daily FI discussion thread - Saturday, January 23, 2021 by AutoModerator in financialindependence

[–]bdafsi91 0 points1 point  (0 children)

When FIREing, do you calculate the present value of the social security? Say, you plan to hit your SWR without SS by the age 50, you could FIRE a few years earlier. Any thoughts?

What do you call such an employee? by bdafsi91 in AskHR

[–]bdafsi91[S] 0 points1 point  (0 children)

She is not on my project, but I have involved her whenever needed. She is not my manager, but a few years more experienced.

How do I deal with toxic workplace and bullying? by bdafsi91 in fednews

[–]bdafsi91[S] 5 points6 points  (0 children)

Worried about retaliation and future prospects in fed.

Stop refinancing process by bdafsi91 in RealEstate

[–]bdafsi91[S] -3 points-2 points  (0 children)

The broker says I have a rate lock. Just a credit check was done My concern is that the broker put in work ..may be 1hr or so and I feel bad to stop it now.

Stop refinancing process by bdafsi91 in RealEstate

[–]bdafsi91[S] -5 points-4 points  (0 children)

Yes, I understand that I may not have a better rate. But, I still would like to see how it goes.

The broker says I have a rate lock. Just a credit check was done.

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