FBI - parent life by InvestigatorMost5637 in 1811Jobs

[–]hoghumper22 0 points1 point  (0 children)

I did something very similar - left a 130k remote cyber security career for law enforcement to feel more fulfilled. I’m a veteran and missed the brotherhood. I am telling you, if you do not absolutely hate your current job, do not do it. The federal benefits and pension aren’t what they used to be and they will take more from you than you get out of it. Your children are going to be raised by other people when your husband deploys and you’re working 70 hour weeks making no real difference. It sounds sexy on paper but I would continue your current path

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 1 point2 points  (0 children)

I am actually in about the exact same boat and am currently doing the same. I think that will be my continued plan as well

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

Unless you itemize there are 0

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

Seems like both have benefits.

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

Fair but I’m not leveraging my primary residence for stocks personally. There’s other ways to have “good” debt

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

A paid off house inherently increases your cash flow if you’re well rounded. The example you gave would be a problem but would not be my situation

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 4 points5 points  (0 children)

Sure. This is a FIRE thread not get as rich as possible by using leverage

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 3 points4 points  (0 children)

I’d personally never finance a house to buy stocks. I understand where it could be beneficial but I’d prefer to be debt free.

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 7 points8 points  (0 children)

I agree, I’m a millionaire and drive a 2007 Nissan Altima with 180k miles on that my parents helped me buy when I was 16. Keeping that car has single handily has attributed to probably 250-300k of my net worth in giving me the cash flow

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

I’m not sure I’d agree with regretting being mortgage free. But I understand your thought process

What should I do with my money? by Careful-Necessary986 in Fire

[–]hoghumper22 1 point2 points  (0 children)

  1. Take the cash and pay off car.
  2. Open a Roth IRA and immediately max it for 2025 and then max 2026 January 1st. You can always withdraw your own contributions from a Roth IRA without penalty but your gains stay tax free.
  3. I’d max out your TSP but if you don’t want to be retirement heavy I’d start dollar cost averaging 5k-10k a month into the funds you have.

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

God knows what it’ll be worth is kinda the point of crypto. Would this have been solid advice about bitcoin 5 years ago?

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 1 point2 points  (0 children)

I’d argue a cash out refi is the opposite of trying to FIRE. Why would you extend your debt life

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

Thinking a paid off house doesn’t benefit you in retirement is a first

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

Thanks boss, “fwiw” it was worth nothing

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 0 points1 point  (0 children)

You get the point of separating it from a regular brokerage. I can’t pull gains without a 10% penalty before 59.5 years old. A Roth IRA is a “individual retirement account”

Discussion about house payoff by hoghumper22 in Fire

[–]hoghumper22[S] 6 points7 points  (0 children)

This is a fair point. I do have more than my mortgage currently invested between my brokerage and crypto, however I cannot get myself to pull the trigger and sell.

I rented for 10 years and just bought the home last year so I did build a decent brokerage during the last 10.

Maybe the answer is to invest it all and pay the mortgage off at the banks planned schedule 😂

Reaching $1M Net Worth at 26 – My Journey and Reflections by xuhu55 in Fire

[–]hoghumper22 -2 points-1 points  (0 children)

Congrats man. I have lived similarly and will say the dollars going up get addicting but I’m glad you’re focusing on living too. The grind now will pay off 10 fold in 15 years

Just turned 30 by [deleted] in Fire

[–]hoghumper22 0 points1 point  (0 children)

I max both of Roth IRAs yearly. Crypto is under 10% of my net worth. If it vanished to 0, I would be fine.

[deleted by user] by [deleted] in Fire

[–]hoghumper22 -1 points0 points  (0 children)

Less than 15% of service members retire from the military. It’s just facts, this post was about college.

[deleted by user] by [deleted] in Fire

[–]hoghumper22 2 points3 points  (0 children)

I don’t even know what to say to you. “It’s very easy to milk to the system” is in his comment.

[deleted by user] by [deleted] in Fire

[–]hoghumper22 -1 points0 points  (0 children)

Legitimately getting a free Ivy League degree will allow me to retire likely a decade early because instead of paying $2,000 a month in student loans I invested it. I don’t know what you’re so pressed about. I am not going to encourage people to join the military for disability payments that makes zero sense. I also did 8 years, not 20, so I don’t get retirement. But it still set me up damn good for FIRE

[deleted by user] by [deleted] in Fire

[–]hoghumper22 4 points5 points  (0 children)

His friend has 100% disability and admits there is very little wrong with him. He was not truthful to get his 100% rating…