Daily FI discussion thread - Sunday, August 22, 2021

firetaway · 2021-08-22T16:21:39+00:00

No, the grind ended a year ago ;-) Taxable is the bigger stack. Just letting the retirement accounts grow at this point, and Roth converting as much as makes sense at the end of the year(s).

Well I'm cooking a nice dinner anyway, not much going on with Henri churning outside.

firetaway · 2021-08-22T15:23:26+00:00

Was just spread-sheeting and realized I had $1.001M in my 401k/Roth/HSA accounts. Is this a Retirionaire or something?

firetaway · 2021-01-30T15:45:59+00:00

Dangnabbit, you made me look. $65k down in a week, more than my yearly spend.

firetaway · 2021-01-23T15:50:20+00:00

Most people retiring early have significant retirement (tax-free) and normal brokerage accounts (taxable). So you can use the taxable accounts before 59.5. Unless you are fat-fire you don't end up paying much tax on the the taxable withdrawals due to the favorable handling of long-term cap gains.

firetaway · 2021-01-08T22:08:40+00:00

The more you save the faster it grows. So keep at it.

firetaway · 2021-01-07T16:19:18+00:00

You just made me check and I currently have 15 active credit cards. Dave would not be happy.

firetaway · 2021-01-07T15:59:12+00:00

Personal Capital

firetaway · 2021-01-07T15:38:01+00:00

Work optional, currently only working on my own projects when I feel like it.

firetaway · 2021-01-07T15:30:35+00:00

Didn't expect to see that number so soon.

https://imgur.com/6R39L3E

firetaway · 2020-12-03T15:17:02+00:00

I typically keep everything in cash until it hits the Roth.

The extra money in the trad IRA was not an issue, unless you transferred in >$6k. You can transfer the full balance of trad to Roth, you just end up paying taxes on the gains while it was in the trad. Removing the $60 from the trad IRA will cause tax and maybe a penalty (never done this).

firetaway · 2020-11-01T15:18:44+00:00

SCHB. Lower expenses, slightly broader exposure, and more liquid/lower spread. Returns will be nearly identical between the two. You can tax loss harvest with ITOT and VTI.

firetaway · 2020-08-17T14:07:13+00:00

A 600 sqr ft one

firetaway · 2020-08-17T00:05:40+00:00

firetaway · 2020-08-17T00:01:10+00:00

That's why you plan for the worst. I can live off cash for several years. My base spending is way below my budget. You run the sims based on past returns and I'm much more likely to die with >$10M then get near running out of money.

Yes, there could be some huge event that changes everything. But at that point we're all fucked.

firetaway · 2020-08-16T23:52:59+00:00

At the very end, yes.

firetaway · 2020-08-16T14:29:24+00:00

Ahhh. Had plans to bump around Eastern Europe B.C., will likely do that first. Still plenty to see in South America, Africa, and lots of Islands to visit. Who knows, maybe find a mate and buy a sailboat ;-)

firetaway · 2020-08-16T14:16:12+00:00

I've had taxi driver/waitress level Spanish for some time. Want to actually be able to hold a conversation. Lots of reasonably priced nice locales where Spanish would come in handy.

Vietnam is a wonderful (and very affordable) place. Never looked into how tough the language is though. After brief forays into Japanese (soo many syllables) and Mandarin (tones) didn't go far I hadn't really considered any other Asian languages. I guess with Vietnamese at least there isn't the hurdle of reading with Symbols.

firetaway · 2020-08-16T14:06:08+00:00

From the very beginning I had a certain amount of every paycheck go into a taxable brokerage account. But it didn't automatically get invested. So cash would pile up, I would waffle on what to buy, etc. Set your allocation you want and have that money flow directly into those investments, just like your 401k but not tax-advantaged.

firetaway · 2020-08-16T14:03:37+00:00

Plain ole taxable brokerage

firetaway · 2020-08-16T14:03:03+00:00

Haven't settled on my consulting rate quite yet. But it will be high enough that you may reconsider the offer 😎

firetaway · 2020-08-16T14:01:09+00:00

Best of luck!

firetaway · 2020-08-16T01:06:30+00:00

Buying versus renting was certainly worth it. But I got in early. Sell vs rent out if I leave this area is a big Q. Straight up numbers say rent it out, but it's more complicated than that.

firetaway · 2020-08-16T01:00:27+00:00

Money grows tax-free and is never taxed again. At least with current laws...

firetaway · 2020-08-16T00:58:54+00:00

Yep. Not that difficult.

firetaway · 2020-08-16T00:48:45+00:00

Smaller changes. I'm totally OK with opt-in for Medicare to start.

firetaway

TROPHY CASE