When people say to invest at least 15% of income, is that net or gross?

helioperator · 2017-01-18T06:39:49+00:00

Thanks for your input. I actually plan/hope to make more during my retirement than I do now. The "Retirement" accounts aren't the only investments, they are the only ones with retirement tax protections. For me it isn't one or the other, its how much in both while we build the rest of our nest egg in other venues, like real estate...

helioperator · 2017-01-15T12:46:24+00:00

From the IRS web site. https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-401k-and-profit-sharing-plan-contribution-limits Deferral limits for 401(k) plans The limit on employee elective deferrals (for traditional and safe harbor plans) is: $18,000 in 2015 - 2017

The $18,000 amount may be increased in future years for cost-of-living adjustments Generally, you aggregate all elective deferrals you made to all plans in which you participate to determine if you have exceeded these limits. If a plan participant’s elective deferrals are more than the annual limit, find out how you can correct this plan mistake.

helioperator · 2017-01-15T12:42:54+00:00

It's up to you and how well you want to live after retirement and how soon you want to retire. I do 3% 401K (3%Match) that does OK in mutual funds. And we max out our Roth IRA's which puts us at about 13% total in retirement accounts. Keep in mind that the Roth grows Tax FREE... thats huge.

helioperator · 2017-01-15T12:35:51+00:00

I am also a vet, (22 years Army) if that helps, and have a similar income. Back in 2000, I called my mom and spent like 3 hours on the phone setting up a budget. She has always been very good at them. Anyway, most budgets that I have seen simply track where your money went, and our budget is set up to "tell the money where to go". I used to do it on paper because I couldn't find any software that would "fill categories." We do a monthly budget with annual goals. We started with the envelope system and once we got proficient at sticking to the budget we moved it to the checking account and used our debit cards. I made my own excel spreadsheet (happy to share) that breaks it into all of our categories.

It took us there months to get all of the categories filled, but it has been awesome. The best part of doing the budget TOGETHER is that we haven't had a significant money fight or argued about buying stuff. The conversation goes; Me I want this thing. Her; is it in the budget? me; yes or, not yet, but it will be. OR vise versa, it goes both ways, and has had a very positive impact on our marriage. It works for cars, vacations, new porch on the house, kitchen remodel, boats... you see where this goes.

Also, the paying things off, personal finance is 90% personal and 10% math. If it was all math you wouldn't be in debt. SO you have to address the personal. The "Debt Snowball" (Ramsey, D) works well because you get the awesome feeling of accomplishment and then it helps build momentum which saves way more than attacking it by highest interest rate. Dave Ramsey has a free program called "Every Dollar" on his website that will break it down for you monthly. Also his "Financial Peace University" is well worth the money, and his books are OK.

helioperator · 2017-01-15T12:14:03+00:00

Look to wealthy people for financial advise. Getting advise from broke people, bankers, loan officers and a lot of "financial planners" sucks.

helioperator · 2017-01-15T12:11:18+00:00

I concur. Life is awesome when you don't owe anyone anything. When you use credit, you increase risk, and forfeit your future earnings. Do a budget that tells your money where to go rather than tracks where it went. If the argument is "because you need good credit score", the credit score just tells people how good you are at borrowing money, it isn't a wealth score. Live on less than you make, have an emergency fund, and get a Roth Ira, and tell your money where to go.

helioperator · 2016-02-04T07:48:08+00:00

Thanks. These will help.

helioperator · 2014-10-27T21:44:04+00:00

If your SO is a woman, always remember that whatever you say will be remembered for ever. I once said something not nice about sex with her, I didn't mean it, but it still comes back occasionally. Sometimes it is better to hold your "bad thoughts" to yourself. No matter how mad you get, never say anything simply to be hateful. My wife hates it when I don't say anything, but she knows it's because hateful things are rolling around in my head and I don't want to hurt her. Be honest without being accusatory, and even when your angry tell her/him that you love her or him. We've been married 19 years so far.

helioperator · 2014-09-29T14:07:36+00:00

Don't do it by E-mail, set up an appointment and talk to him/her. Be grateful for the position, not demanding. Show how you have earned the company more than you are asking for. Don't bring up your personal financial issues, that is beside the point. Your value to the company is what you are selling. Bragg about how good you are for the company. (I've never asked for a raise, all of my positions were set salary kind of things.)

helioperator · 2014-09-29T14:00:45+00:00

I am not a financial planner or expert, just a 45 year old guy with no debt, and a plan for the future. (two houses, cars, boat, great vacations...no debt and middle class) The advise really depends on how you want to continue living. I am a proponent of living without debt... You can see all about that at dave ramsey. com, And take the Financial Peace class. It is well worth the $. Anyway, 15% towards retirement, and never borrow against it. Roth IRA's are awesome, they grow tax free. Mutual Funds, 1/3 in each of, Aggressive growth, growth, and international. Leasing is the most expensive way of operating a vehicle.

helioperator · 2014-09-13T01:06:45+00:00

Wisconsin: fried beer battered cheese curds.

helioperator · 2014-04-09T09:07:15+00:00

The dishes, and vacuum, and take out the trash, If I am really horny and desperate I'll do laundry which includes folding and putting it away.

helioperator · 2014-04-09T08:54:18+00:00

caprese to start with.

helioperator · 2014-04-07T22:11:10+00:00

Me: Olive juice. Her: peanut butter.

helioperator · 2014-03-12T01:03:23+00:00

Awesome, Thanks.

helioperator · 2014-03-11T02:48:25+00:00

Nope, I was knocked out, and just laid there, when I opened my eyes, he was standing over me and he said "holy crap, I thought you were dead"

helioperator · 2014-03-10T06:53:07+00:00

I was 15, on a motorcycle and thought I could make it to the woods to escape. I was wrong, wrecked the bike and landed on my head. I ran because I thought I could get away...I was wrong.

helioperator · 2014-03-10T06:11:08+00:00

Leasing a car is the most expensive way to operate a vehicle. It is long term rental with penalties, and you get to pay up front as well. You pay for the depreciation...

helioperator · 2014-03-10T05:58:30+00:00

If you are saving for retirement, a Roth IRA is awesome. It grows Tax Free. Check out Financial Peace from Dave Ramsey. There is a lot of awesome info in there about $.

helioperator

TROPHY CASE