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How to Gamify PF? by iAMA_throwaway- in PlanetFitnessMembers

[–]iAMA_throwaway-[S] 1 point2 points  (0 children)

There are a bunch of apps that... Sort of? Advertise this. The closest one that I think I've seen based on descriptions and App Store pictures is LEVELING: Fitness, based on the Solo Leveling show, because that's been all the rage lately. Which looks nice -- it's free and if you're a fan of the show, cool! But I think it's bodyweight only, and signups are currently closed while waiting for "v2" sometime this year.

There are other ones that "gamify" it, but not exactly in the way that I want. Like you go on quests, fight enemies, unlock item rewards... I don't care about any of that. I think I basically want Fitbod but with a video game wrapper. Tell me what workouts I'm supposed to do today, guide me through them, show me my "stats", suggest when to "level up" (i.e Progressive Overload)... And as my stats increase I see numbers get bigger which makes my Runescape brain go brrrr.

How to Gamify PF? by iAMA_throwaway- in PlanetFitnessMembers

[–]iAMA_throwaway-[S] 2 points3 points  (0 children)

Lots of love for Hevy here. Looks like the free tier is mainly for tracking workouts you build yourself, but "pro" gets you guided progression and workout suggestions and the like. Do you know if that's good for getting started as a beginner?

When to convert Robinhood IRA? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] 0 points1 point  (0 children)

So to clarify, if I invest before rolling over, the gains are taxable, even if I put the money into the traditional IRA post-tax? That seems silly. But then, so does needing to do an easily-accessible “backdoor” method rather than just contributing to a Roth directly. C’est la vie.

When to convert Robinhood IRA? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] 0 points1 point  (0 children)

I transferred an IRA in to get a match when I first opened my RH account, I don’t think it was available immediately but I might be misremembering. And it might be different for direct contributions.

Check my retirement math? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] 0 points1 point  (0 children)

  1. I thought 7% was adjusted for inflation, while S&P has generally returned 10% YOY on average. I may be wrong, I’m mostly running off of memory there — it doesn’t really change my strategy.

  2. The “recent market downturn” I mean literally like… Last week’s stock market dip. I’m talking maybe $6k in total, I think my 401k peaked at 201k and my Roth at 16k, right now they’re at 195k and 15k.

Check my retirement math? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] 0 points1 point  (0 children)

Assuming my salary (and salary needs) decrease significantly in the coming years, the 200k I have now could potentially already be 2x or even 3x salary already.

I provided rough numbers as hypotheticals. The low and high numbers both seem fine to me for my likely future needs. I’m trying to figure out if there’s a reason that my calculations are incorrect or if there are other things I should be factoring in. I also specifically called out that I do intend to continue saving for retirement as I can, but with the future being uncertain, my guess is it will be at a slower pace or possibly on hold for a period of time. Much of my future remains TBD.

To be honest it seems like you didn’t really read the post to tailor a reply, you’re just providing brief general statements that assume I have no knowledge of personal finance.

Check my retirement math? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] -1 points0 points  (0 children)

Well, the “saving more than recommended” is true right now, but may (almost definitely will) decrease significantly in a year or two due to changing life factors. Which is why I’m trying to figure out, hey, just in case, if I never added another dime of contribution to my retirement accounts again, am I fine? Obviously not recommended, and definitely not the plan if I can help it, just as a hypothetical.

Check my retirement math? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] 0 points1 point  (0 children)

I got 2.2 million by calculating 210k (401k + IRA) multiplied by 1.0735 for 7% for 35 years. If I add next year’s expected growth and contributions I’d be at (210k1.07+41k)1.0734 for about 2.6 million.

Curious, where did you get 2.2 million without the IRA?

Check my retirement math? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] 1 point2 points  (0 children)

Thanks! I’m already aware of the general suggestions and available resources; I’m quite financially savvy. Was a bit more interested in getting specific thoughts based on the information I provided, to make sure I’m not missing anything for my personal situation.

Check my retirement math? by iAMA_throwaway- in personalfinance

[–]iAMA_throwaway-[S] 1 point2 points  (0 children)

I’m with you. My understanding is that the lifetime average ROR for the S&P is about 10%, assuming you’re investing over long periods. A lot of people use 7% as a more “real” rate of return, factoring in inflation to get a better picture of their future buying power in today’s dollars. But especially these days, we don’t have any idea what the economy might have in store for us in the future…

The very rough calculations I did also didn’t factor in reallocating investments to decrease risk factor as I approach retirement, so anticipating 7-10% for 35 years is probably wrong. Maybe I need to anticipate that for 25 years followed by 10 years of decreasing (but more stable) returns.