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Welcome and General Discussion / Re: Climbing the corporate ladder
« Last post by Nochka on Today at 09:41:06 AM »
I'm in my mid-40s and earning $325K/year through a mixture of salary, stock and bonus. I would encourage you to think about your career as rock-climbing rather than ladder-climbing. By that I mean not focusing on a grabbing a rung that is already occupied. Doing that could leave your career stalled if those rungs remained occupied for years or decades. Instead (or at least also) think about areas of potential growth that no one in the company is currently focused on. Large companies often overlook what are currently small opportunities, but could be large ones in 3-5 years. if you can find one of these, you become like a rock climber finding a new line, and are no longer limited by the position of other climbers.
Wow what a great benefit.  Are you willing to share what company you work for?

You want to go work somewhere for 10 years only to have an extra month paid off? No offense, I just found this odd since it's a bit irrelevant considering overall compensation is more important than the specifics of benefits.
Ask a Mustachian / Re: biking and not dying
« Last post by Retire-Canada on Today at 09:38:14 AM »
For us, I think commute wise, biking probably is more dangerous, because we have short commutes on roads with low speed limits. But driving isn't exact safe.

It's hard to say if he would be in better or worse shape had he been in a car when left hooked at that intersection.
Taxes / Re: HSA Contributions, Deductions and Medical/Dental expenses
« Last post by bacchi on Today at 09:38:12 AM »
Correct, your W2 has already accounted for the HSA contributions (confirm this by looking at the numbers on your W2).

You can't double dip with both HSA deductions and Schedule A deductions. Schedule A has that 10% boundary as well.
Welcome and General Discussion / Re: Best 401k Matches?
« Last post by happychineseboy on Today at 09:35:30 AM »
At my dad's company the match is 150% of the first 6% contributed for employees who have been with the company for 4+ years. So you put in 6% and the company puts in 9%.

But the most generous 401k match is at my old job. I got a job at a place that matches 100% of the first 5% but also puts in an additional 5% regardless and THEN an additional 5% for each dollar earned above the social security max. So 10% of the first $127,500 earned and 15% on every dollar above $127,500.

Both are insurance companies.

You can PM for company names

Post-FIRE / Re: Health Insurance. What are you doing?
« Last post by spartana on Today at 09:35:03 AM »
We're on plans we purchased through our state exchange, and we plan to continue to purchase individual health plans, either via state exchanges or on the private market.

If our current plan is still available through our insurer at an affordable rate next year, we'll renew. Our insurer offered individual plans prior to the ACA, so I'm hopeful they'll still be available.

If so-called "catastrophic" plans come back, we'd consider getting one of those.

And if individual health insurance becomes entirely unaffordable, we'd need to consider leaving the US and traveling where medical costs are lower, or going back to work in order to get health insurance. Certainly we're hoping that doesn't happen.


This.  We also have the option to reduce our annual taxable income and go on Medicaid, and while we have to consider it, at this juncture that would not our first choice.
Our state didn't expand Medicaid, so we'd bump into the asset limit. I don't know how other states will handle high asset/low income residents in future years.
My state (Cali) did expand Medicaid and I had a low enough MAGI to go on that if I wanted (chose to use the VA instead) but I assume that once/if the ACA goes away so does much of the fed funding for state Medicaid. So most expanded states will likely go back to running Medicaid the way it was run before the ACA. In Cali that means if you were between the ages of 18 and 64 and not disabled or a refugee or a pregnant low income woman you couldn't get Medicaid regardless of your income or poverty level. 
Ask a Mustachian / Re: biking and not dying
« Last post by iowajes on Today at 09:34:24 AM »
Odd thing is people are slaughtered in cars every single day and it really isn't something that makes a big impact, but a cyclist is killed and it's a big deal.  That distorts the real risks of driving vs. biking.

After DHs accident my mother asked if I would "let" him bike to work again.  I was hurt in a car one stopped letting me drive to work. (Though it took a year before I could go that route again.)

For us, I think commute wise, biking probably is more dangerous, because we have short commutes on roads with low speed limits. But driving isn't exact safe.
Ask a Mustachian / Re: 4% rule questions - break it down for me
« Last post by Hargrove on Today at 09:29:24 AM »
The 4% rule is not the calculation where "all other things factored in, you need THIS much."

The 4% rule is the calculation where your portfolio is basically unlikely to shrink. Ergo, all other considerations, like Social Security or inheritances etc, are extra padding to your income beyond what you generate from your 4% situation, and are not at all accounted for by the 4% rule. Very aggressive and optimistic investors could lower the 4% rule by such considerations if that was their thing, but we don't generally recommend it. You take the 4% rule and apply it to your own annual spending and spending projections. 4% is just the Trinity Study's verdict on a safe withdrawal number, not an explanation in any way evaluating what YOU need annually, which you have to determine, plug into the 4% rule, and get your target savings goal.

See above post for your 401k conversion options.

Yes, you need to pay for living before you access your 401k, silly. You can do that with Roth withdrawals, you can do that with liquid savings (but that's an awfully investment-growth-poor choice), you can do that by withdrawing from a separate, pre-normal-retirement-age taxable brokerage account. Many people have a post-59.5 bundle of investments and a pre-59.5 bundle, especially if they're not big in real estate properties.
Off Topic / Re: What are the realistic impacts of a Trump presidency?
« Last post by bacchi on Today at 09:28:49 AM »
Will a Republican congress go along with massive tax cuts and huge new spending programs (infrastructure, wall)? 

Does a bear shit in the woods?
Share Your Badassity / Re: Thrift Store Shopping
« Last post by LindseyC on Today at 09:28:41 AM »
I bought a cute little purse today for $1.99, I didn't buy it for the brand name but it's a Tommy Hilfiger, so a pretty good price score. I am debating keeping it, but it's also in immaculate condition so I might give it as a gift.   
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