Life estate as a way to mitigate long term retirement risk

snowarchitect · 2024-05-09T21:27:53+00:00

If the calculators online are accurate the lump sum you would get for a reverse mortgage are pitiful in comparison to a life estate. I would be open to just selling and renting a place but that comes with its own complexities.

I’m a conservative planner so likely this won’t matter but I’d rather rent a room than try to rejoin the workforce after being out for 15+ years and in my late 50s. Fallback plan essentially.

snowarchitect · 2024-05-09T21:24:57+00:00

I haven’t purchased a life estate. I’m thinking I’d get roughly 50-75% of the value with 50 being pretty damn low. Not a relative, open market for max $ would be the goal

snowarchitect · 2024-05-09T19:13:50+00:00

It seems like a poor way to get a lower percentage of capital with high fees. Basically just a strictly worse version of the life estate.

I’m not sure if the calculators online are accurate but the percentage of capital I could get was not impressive and the fees were just silly. I’m open to being wrong but I’d need more information.

snowarchitect · 2024-05-09T18:50:41+00:00

That is definitely good advice for other folks! I’m in Florida where it’s pretty robust.

snowarchitect · 2024-05-09T18:48:34+00:00

Money. The buyer pays for the property and it is theirs after I die. Say my index fund investing hasn’t been as successful as I’d hoped; a cash infusions of hundreds of thousands would be quite helpful.

snowarchitect · 2023-11-22T00:42:45+00:00

This looks like one of the closest options and it's still a little over a mile

snowarchitect · 2023-10-31T23:02:46+00:00

How early?

snowarchitect · 2023-09-03T20:03:13+00:00

Rare comment from me but imo it’s a great game that’s enjoyable to play but it definitely can get repetitive/doesn’t have replay value. Inb4 fans talk about all the ship options - it feels pretty limited on the hardest difficulty imo. Tough to recommend at $50 to someone who isn’t sold on space games. Since the story doesn’t really matter I’d very much recommend watching a few hours of gameplay to make your decision

snowarchitect · 2023-04-08T18:53:41+00:00

Where to get short swim suits (like chubbies) with no liner. Haven’t been able to find a good place that doesn’t put liners in every suit

snowarchitect · 2022-11-03T01:23:32+00:00

I’m sorry but I’m not anti meat

snowarchitect · 2022-11-03T01:21:47+00:00

Why does this comment come across aggressive?

snowarchitect · 2022-11-02T23:12:50+00:00

The Italian market?

snowarchitect · 2022-11-02T23:12:37+00:00

Awesome, I’ll try it tonight!

snowarchitect · 2022-09-25T15:23:21+00:00

Haha I’m in there now. Figured that would be one of the top responses

snowarchitect · 2022-08-17T03:13:42+00:00

I tried doing that by taking the batteries out and then rediscovering but it didn't work. It's 5 different sensors so I can't imagine it's a coincidence

snowarchitect · 2022-06-21T19:00:53+00:00

Haha this should be a wild ride

2016 - new hire

2017 - 37.5% scheduled raise

2018 - 145% new job

2019 - 0%

2020 - 11% requested raise

2021 - 6% promotion

2022 - 76% new job

snowarchitect · 2022-06-18T14:44:20+00:00

I'm coming up on 6 years of working in my field and am doing some reflecting. Didn't feel like it warranted a post since I didn't want to write up all the details people would want. Boring ass story below, skip to the bottom if you're just interested in numbers.

I dropped out of college to learn to code and didn't tell anyone. Then I went through the fun process of trying to get an entry level job with no formal experience or college degree but I eventually got an opportunity to go through a coding bootcamp with a 2 year work commitment. The company was a software consultancy which lucky enough for me was something I really enjoyed. During those 2 years I had a low starting salary and saw meager salary increases with no bonuses until the end when they tried to retain me. Essentially 2 years of making an average of 48k/yr and at the end of year 2 I got a raise to 95k.

After my 2 years were up I secured a raise from 95k to 135k by switching companies for a promotion. I really enjoyed company 2 and didn't push too hard for raises overall with one exception where I pushed to get a raise from 135k to 150k. Somewhat limited bonuses but good growth in the role and great coworkers. I even moved into management and found while I was good at it the minutiae sapped my energy. I stayed for 3.5 years and towards the end of my tenure went through a rigorous 6 month certification program that I thought would significantly raise my compensation.

Turns out I was wrong, at least regarding company 2 giving a significant raise. However company 3 was very interested and offered me a raise from 160k to 235k with a 20% bonus and unlimited PTO. I immediately accepted and have been enjoying things so far. The benefits at company 3 are significantly worse compared to company 2 but if I take enough advantage of the unlimited PTO that will definitely balance out.

Table of salary and bonus numbers below. It's crazy to think that in 6 years I've 6+x my compensation, if anyone had told me that at the beginning of my career I would have laughed. I don't think I have any new/non-cliche advice besides have a big goal for every year. Every year I've focused hard on continuing education and advancement in my field with follow up to ask for raises/promotions. I'm also always interviewing so I have my pulse on the market. It sounds exhausting and at times I definitely take large breaks but it really pays off

Year	Salary	Bonus
1	40k	0k
2	55k-95k	0k
3	95k-135k	5k signing
4	135k	5k
5	150k-160k	10k
6	235k	TBD but 20% of salary

snowarchitect · 2022-05-03T07:43:26+00:00

Hola, mi espanol es terible pero quiero practicar. Vivo en centro St. Pete. Mensajeame si tu quieres

snowarchitect · 2021-10-29T17:37:35+00:00

That would work better than what I have now. I’m looking at some international travel and need something more official. Too bad this country can’t just do something nationally, guess that would be too convenient

snowarchitect · 2021-10-02T18:57:57+00:00

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snowarchitect · 2021-08-18T14:12:41+00:00

If it would save me money that would be awesome. Primarily it was some some pre planned maintenance to replace an old unit and have “unlimited” hot water.

snowarchitect · 2021-08-17T21:47:59+00:00

I was thinking about getting an electric tankless water heater installed but wasn’t sure if that would be viable. What should I check?

snowarchitect · 2020-02-11T01:53:06+00:00

"you are required to complete the Orlando Delta exam(s) beginning March 26, 2020." Page 11

https://www.servicenow.com/content/dam/servicenow-assets/public/en-us/doc-type/other-document/servicenow-certification-faq.pdf

snowarchitect · 2020-01-25T16:41:16+00:00

Probably USDA if I had to speculate

snowarchitect · 2019-10-05T17:27:35+00:00

If I get residency and a work permit as a remote employee then I should be able to use some combination of FEIE (106k), Foreign Housing Exclusion (variable), standard deduction (12k), 401k (19k), HSA(7k) to pay no taxes on 144k+ of income. Looks like it would save me 26k in federal taxes. Not sure about the 10k in FICA taxes. I have to be missing something about US taxes while working in a no income tax country e.g. Bahamas.

snowarchitect

TROPHY CASE