Author Topic: Race from $2M to $4M...and Beyond!  (Read 571325 times)

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #3600 on: August 04, 2020, 11:57:18 AM »
The 2008 Accord has 219000 miles.  There are 4 brands and two different size tires on it.  Multiple trouble codes including the catalytic converter.  Air conditioning only works when moving.  The struts are blown and the rear end wobbles.
Um, time to donate that car to charity and get the new one. I have a headache just reading this! ;-)


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Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3601 on: August 04, 2020, 03:01:04 PM »
Amazing to think there are multimillionaires who write posts discussing their 220,000 mile junker cars..:)

These are my people..:)

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #3602 on: August 04, 2020, 06:19:21 PM »
Amazing to think there are multimillionaires who write posts discussing their 220,000 mile junker cars..:)

These are my people..:)

That car is not finished.  If I can get it to the Florida house, Florida has no inspections.  It's going to be my Gambler.  The Gambler 500 rallys are where you take a $500 car and rally through swamps, mountains and roadways.   I've been looking forward to this for years.   
https://youtu.be/cHcaykLqTO8
« Last Edit: August 04, 2020, 06:23:23 PM by Bateaux »

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3603 on: August 05, 2020, 04:41:22 AM »
The time is near.  I ran from the cops Saturday because there was an inspection checkpoint.  I haven't passed inspection in two years and the repairs are more than the value of the car.

What do they do to you if your car fails an inspection?... You get stuffed into a private jet and whisked off to a CIA black site for more "questioning"?

Asking for a friend.. Plus we don't have inspections in Oregon outside of Portland.

You get fined if your safety sticker is out of date. It’s all about the revenue.

The objective of course is to have a safe vehicle and not fail the inspection. Some shops look upon the safety inspection as an opportunity to maximize their short term revenue and will identify all sorts of silly repairs that have little if any bearing on safety. Other shops take a more reserved and common sense approach. Those shops should get your business.

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3604 on: August 05, 2020, 05:24:17 AM »
Amazing to think there are multimillionaires who write posts discussing their 220,000 mile junker cars..:)

These are my people..:)

“Junker” is such an ugly word. I prefer “fine vintage automobile for those of discerning tastes.”


couponvan

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Re: Race from $2M to $4M...and Beyond!
« Reply #3605 on: August 05, 2020, 07:19:30 AM »
I've been car shopping since last year.  I'm waiting for just the right deal on the right vehicle.  Are we able to car shop nearly a year because we can afford to or can we afford to because we car shop for a year?




If you needed one you'd have made up your mind by now.  ;)


Somebody must be buying cars these days.  I bought up a few stocks in April & LAD (a car dealership group) has been my best pick, up over 120%.   Seems like a crazy time for most folks to buy a car, but what do I know?  Maybe they used their stimulus checks.
Cars are the new security net-if things get bad, I will just live in my car! I have heard that twice in the past week to justify car buying. Campers and trucks are also extremely popular-my DH is looking hard at them. Ugh.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3606 on: August 05, 2020, 07:24:18 AM »

 Those shops should get your business.

My "business"????... I'm a cheap assed multimillionaire who has never sent a car to any shop apart from tire changes/alignments..

There is no my business...:)

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3607 on: August 05, 2020, 07:43:38 AM »

 Those shops should get your business.

My "business"????... I'm a cheap assed multimillionaire who has never sent a car to any shop apart from tire changes/alignments..

There is no my business...:)

If you need a safety sticker, doing your own maintenance all the time can prove expensive.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3608 on: August 05, 2020, 08:05:22 AM »

 Those shops should get your business.

My "business"????... I'm a cheap assed multimillionaire who has never sent a car to any shop apart from tire changes/alignments..

There is no my business...:)

If you need a safety sticker, doing your own maintenance all the time can prove expensive.

Why would it be any different to when you don't need a safety sticker? I don't drive my cars around with the check engine light on and everything always works so whats the difference?

Not arguing, just asking..

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3609 on: August 05, 2020, 12:06:23 PM »

 Those shops should get your business.

My "business"????... I'm a cheap assed multimillionaire who has never sent a car to any shop apart from tire changes/alignments..

There is no my business...:)

If you need a safety sticker, doing your own maintenance all the time can prove expensive.

Why would it be any different to when you don't need a safety sticker? I don't drive my cars around with the check engine light on and everything always works so whats the difference?

Not arguing, just asking..

Because doing it all yourself doesn’t allow you to develop a relationship with a repair shop that will help you avoid any expensive safety issues that will be identified on the annual inspection. You can ask ahead of time: hey, what do you see that’s going to cause me to fail the inspection? Fix that ahead of time and pass.

They lose money on the inspections. You don’t want them to see you and your vehicle as a one time opportunity to be made whole.

Car Jack

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Re: Race from $2M to $4M...and Beyond!
« Reply #3610 on: August 05, 2020, 12:22:09 PM »
The independent mechanic I use for only repairs I can't do does not do state safety inspections.  Not an uncommon thing in Massachusetts, where mostly gas stations contain the safety inspection stations.


Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3611 on: August 05, 2020, 12:46:10 PM »
Thats two things in life I will avoid like the plague.. States with safety inspections and HOAs!!

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #3612 on: August 05, 2020, 01:37:09 PM »
Thats two things in life I will avoid like the plague.. States with safety inspections and HOAs!!

You got me a bit curious about Home Ownership Associations (HOAs).  According to this article one in five homes in the US are part of these.

https://www.investopedia.com/articles/mortgages-real-estate/08/homeowners-associations-tips.asp

I'm with you in not wanting to give up my freedom.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3613 on: August 05, 2020, 02:34:58 PM »
Thats two things in life I will avoid like the plague.. States with safety inspections and HOAs!!

You got me a bit curious about Home Ownership Associations (HOAs).  According to this article one in five homes in the US are part of these.

https://www.investopedia.com/articles/mortgages-real-estate/08/homeowners-associations-tips.asp

I'm with you in not wanting to give up my freedom.

I would rent before I bought into one of these!

I mean Americans bang on about how free they are (like you have the same freedoms as 80% of the rest of the World), but then voluntarily give up the the right to do what you want on YOUR property and pay for the privilege!

I come from an evil Socialist country and we don't know WTF HOA's are!

OK, now you got me all excited..:)

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3614 on: August 05, 2020, 03:40:58 PM »
I come from an evil Socialist country and we don't know WTF HOA's are!

HOAs were invented by white American racists to force some areas to stay whites only.   I kid you not.

The property we just moved into has a voluntary association (as opposed to a mandatory one that has power over your property).  In decades past it was a mandatory association.   I read thru the organization documents, which included the prior charters as well as the current one.    The original one required that the lots only be sold to people who were Caucasian.   

That is no longer in effect and hasn't been for a few decades. 



ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #3615 on: August 05, 2020, 04:14:10 PM »
I come from an evil Socialist country and we don't know WTF HOA's are!

HOAs were invented by white American racists to force some areas to stay whites only.   I kid you not.

The property we just moved into has a voluntary association (as opposed to a mandatory one that has power over your property).  In decades past it was a mandatory association.   I read thru the organization documents, which included the prior charters as well as the current one.    The original one required that the lots only be sold to people who were Caucasian.   

That is no longer in effect and hasn't been for a few decades.

And only the right kind of white people at that. Not that white trash - white skin, but don't act proper.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3616 on: August 05, 2020, 04:59:10 PM »
Wow HOAs are actually starting to make sense now.. A bit like why we now have a racist thug in the White house after we had one of them there BLACK PEOPLE in there.

Geez!

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #3617 on: August 05, 2020, 08:37:33 PM »
I went out and purchased a new to me Ford Expedition XL.  It's a 2015 nicely equipped with 87K miles.  Paid $20,900 before taxes and fees.   Not too bad.  It was at Ford dealer and they did have all the maintenance up to date including 4 new tires and a battery.  The leather interior is pretty much flawless and the paint perfect.  It has the turbo V6 Ecoboost.  I'm more the V8 non turbo type, but it really is a powerful engine.  We leave for the Florida house Sunday should be a very comfortable ride.  The inspection sticker is good till July 2021 so no need to run if I come upon an inspection road block again.  Most importantly, the wife is happy with it, so it's all good.
« Last Edit: August 05, 2020, 08:42:01 PM by Bateaux »

2Birds1Stone

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Re: Race from $2M to $4M...and Beyond!
« Reply #3618 on: August 06, 2020, 12:56:12 AM »
I thought it was $100k. Isn’t $500k fat FI?

It was for me, and it looks like I over-saved. Spending continues to drop and portfolio keeps going to da moooon.

flyingaway

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Re: Race from $2M to $4M...and Beyond!
« Reply #3619 on: August 06, 2020, 06:28:54 AM »
I went out and purchased a new to me Ford Expedition XL.  It's a 2015 nicely equipped with 87K miles.  Paid $20,900 before taxes and fees.   Not too bad.  It was at Ford dealer and they did have all the maintenance up to date including 4 new tires and a battery.  The leather interior is pretty much flawless and the paint perfect.  It has the turbo V6 Ecoboost.  I'm more the V8 non turbo type, but it really is a powerful engine.  We leave for the Florida house Sunday should be a very comfortable ride.  The inspection sticker is good till July 2021 so no need to run if I come upon an inspection road block again.  Most importantly, the wife is happy with it, so it's all good.

What about your car that has inspection problems? Traded in?

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3620 on: August 06, 2020, 08:43:33 AM »
Thats two things in life I will avoid like the plague.. States with safety inspections and HOAs!!

Our next landing spot will hopefully have neither. HOAs are non-negotiable for us. There are enough petty authoritarians and busybodies out there. No reason to embrace that suck.

The safety inspections and emissions checks are tougher to avoid. I guess I could always get an “antique” vehicle that doesn’t require the inspection or emissions.

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3621 on: August 06, 2020, 08:48:18 AM »
I went out and purchased a new to me Ford Expedition XL.  It's a 2015 nicely equipped with 87K miles.  Paid $20,900 before taxes and fees.   Not too bad.  It was at Ford dealer and they did have all the maintenance up to date including 4 new tires and a battery.  The leather interior is pretty much flawless and the paint perfect.  It has the turbo V6 Ecoboost.  I'm more the V8 non turbo type, but it really is a powerful engine.  We leave for the Florida house Sunday should be a very comfortable ride.  The inspection sticker is good till July 2021 so no need to run if I come upon an inspection road block again.  Most importantly, the wife is happy with it, so it's all good.

What about your car that has inspection problems? Traded in?
Yeah really. What happened to that vintage piece of wonderfulness?

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #3622 on: August 06, 2020, 09:04:41 AM »
I thought it was $100k. Isn’t $500k fat FI?

It was for me, and it looks like I over-saved. Spending continues to drop and portfolio keeps going to da moooon.
I guess I just don’t know how to live a truly modest lifestyle, or I’m just way to conservative in my assumptions.

I did a couple months ago ask the hubby hey, do we want to sell everything, rent a little apt and travel the US in an RV. He didn’t bite.


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flyingaway

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Re: Race from $2M to $4M...and Beyond!
« Reply #3623 on: August 06, 2020, 10:42:38 AM »
I thought it was $100k. Isn’t $500k fat FI?

It was for me, and it looks like I over-saved. Spending continues to drop and portfolio keeps going to da moooon.
I guess I just don’t know how to live a truly modest lifestyle, or I’m just way to conservative in my assumptions.

I did a couple months ago ask the hubby hey, do we want to sell everything, rent a little apt and travel the US in an RV. He didn’t bite.


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I also have that urge sometimes. But I have visited 51 countries and areas, and all 50 U.S. States. The remaining countries are usually not so safe to travel in my opinion, middle east, Africa, etc.
But slow travel may still be a thing in our future life, provided that my wife does not want to bring families of her friends to travel with us.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3624 on: August 06, 2020, 01:46:35 PM »
My hedonistic dream is to sell the house and move to the Philippines with unlimited tropical SCUBA diving.

I would have a housekeeper and never cook another meal or wash dishes as long as I lived.

Healthcare is reasonably OK and dirt cheap.

DW loves working the farmette and her gardening so its not going to happen, which is probably a good thing overall.

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #3625 on: August 06, 2020, 02:20:07 PM »
I went out and purchased a new to me Ford Expedition XL.  It's a 2015 nicely equipped with 87K miles.  Paid $20,900 before taxes and fees.   Not too bad.  It was at Ford dealer and they did have all the maintenance up to date including 4 new tires and a battery.  The leather interior is pretty much flawless and the paint perfect.  It has the turbo V6 Ecoboost.  I'm more the V8 non turbo type, but it really is a powerful engine.  We leave for the Florida house Sunday should be a very comfortable ride.  The inspection sticker is good till July 2021 so no need to run if I come upon an inspection road block again.  Most importantly, the wife is happy with it, so it's all good.


What about your car that has inspection problems? Traded in?
Will probably sell it or donate it.

SwordGuy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3626 on: August 06, 2020, 02:22:20 PM »
My hedonistic dream is to sell the house and move to the Philippines with unlimited tropical SCUBA diving.

I would have a housekeeper and never cook another meal or wash dishes as long as I lived.

Healthcare is reasonably OK and dirt cheap.

DW loves working the farmette and her gardening so its not going to happen, which is probably a good thing overall.

Bet she could garden and grow things in the Philippines too...    And afford a gardener to help with the heavy stuff... :)

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #3627 on: August 06, 2020, 02:24:01 PM »
My hedonistic dream is to sell the house and move to the Philippines with unlimited tropical SCUBA diving.

I would have a housekeeper and never cook another meal or wash dishes as long as I lived.

Healthcare is reasonably OK and dirt cheap.

DW loves working the farmette and her gardening so its not going to happen, which is probably a good thing overall.

I could handle a foreign country, my wife couldn't.   That SCUBA sounds great.

pecunia

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Re: Race from $2M to $4M...and Beyond!
« Reply #3628 on: August 06, 2020, 02:41:05 PM »
My hedonistic dream is to sell the house and move to the Philippines with unlimited tropical SCUBA diving.

I would have a housekeeper and never cook another meal or wash dishes as long as I lived.

Healthcare is reasonably OK and dirt cheap.

DW loves working the farmette and her gardening so its not going to happen, which is probably a good thing overall.

I could handle a foreign country, my wife couldn't.   That SCUBA sounds great.

https://animals.mom.me/kinds-sharks-philippines-7683.html

It may not be the tropics with a gardener and housekeeper, but you do have someone to pump your gas in Oregon.

GreenEggs

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Re: Race from $2M to $4M...and Beyond!
« Reply #3629 on: August 06, 2020, 05:02:27 PM »
Marriage can be sort'a like buying into an HOA.  Except you don't know all the rules until after you're in it.  ;)

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3630 on: August 06, 2020, 06:37:27 PM »
Marriage can be sort'a like buying into an HOA.  Except you don't know all the rules until after you're in it.  ;)

Ouch!... He says thinking about how its our 20th Wedding anniversary this month..:)

Fomerly known as something

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Re: Race from $2M to $4M...and Beyond!
« Reply #3631 on: August 06, 2020, 06:57:59 PM »
All the new developments in my area are HOA’s. It’s the way the local government prefers it.  That way they don’t have to pay for road repair, since all the roads are technically private.  Honestly my HOA is ok, they don’t like fences and sheds otherwise it’s mainly for roads and trash pickup. 

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Re: Race from $2M to $4M...and Beyond!
« Reply #3632 on: August 06, 2020, 07:31:42 PM »
All the new developments in my area are HOA’s. It’s the way the local government prefers it.  That way they don’t have to pay for road repair, since all the roads are technically private.  Honestly my HOA is ok, they don’t like fences and sheds otherwise it’s mainly for roads and trash pickup.

You're only a couple of new board members away from being in an entirely different kind of HOA.
« Last Edit: August 07, 2020, 07:47:21 AM by SwordGuy »

Car Jack

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Re: Race from $2M to $4M...and Beyond!
« Reply #3633 on: August 07, 2020, 05:48:47 AM »
Thats two things in life I will avoid like the plague.. States with safety inspections and HOAs!!

That's gold, right there!

I'm sure other states do this too.....in my town, I know for sure that the police run plate readers from their cars always.  My wife and one other car were pulled over a couple years ago at night, in the rain for inspection not valid.  We had bought the car from her father and the sticker was only a couple months old.  But any purchase has to be inspected when registered.  The reader obviously is tied in to see when the sticker was issued.  Only a warning and I got the car inspected the next day.  I forget the fine if it were a ticket but here, it's considered a moving violation which typically costs a grand over 6 years because you lose safe driver credits.

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3634 on: August 07, 2020, 06:32:28 AM »
Thats two things in life I will avoid like the plague.. States with safety inspections and HOAs!!

That's gold, right there!

I'm sure other states do this too.....in my town, I know for sure that the police run plate readers from their cars always.  My wife and one other car were pulled over a couple years ago at night, in the rain for inspection not valid.  We had bought the car from her father and the sticker was only a couple months old.  But any purchase has to be inspected when registered.  The reader obviously is tied in to see when the sticker was issued.  Only a warning and I got the car inspected the next day.  I forget the fine if it were a ticket but here, it's considered a moving violation which typically costs a grand over 6 years because you lose safe driver credits.

It’s all about the revenue. A shakedown sanctioned by law. Happily it can be somewhat planned around and avoided.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3635 on: August 07, 2020, 10:05:27 AM »
Thats two things in life I will avoid like the plague.. States with safety inspections and HOAs!!

That's gold, right there!

I'm sure other states do this too.....in my town, I know for sure that the police run plate readers from their cars always.  My wife and one other car were pulled over a couple years ago at night, in the rain for inspection not valid.  We had bought the car from her father and the sticker was only a couple months old.  But any purchase has to be inspected when registered.  The reader obviously is tied in to see when the sticker was issued.  Only a warning and I got the car inspected the next day.  I forget the fine if it were a ticket but here, it's considered a moving violation which typically costs a grand over 6 years because you lose safe driver credits.

It’s all about the revenue. A shakedown sanctioned by law. Happily it can be somewhat planned around and avoided.

Land of the Free!

Roboturner

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Re: Race from $2M to $4M...and Beyond!
« Reply #3636 on: August 07, 2020, 01:25:18 PM »
Well, after playing footsy with 2MM for the better part of a month and half, we've successfully maintained above 2MM LNW for a couple weeks now. Ready to join. Good luck everyone!

Wow.  At 31 in a MCOL area, that's absolutely amazing.  Can I ask what your annual expenses are?

Thanks all!

We've been running about 25k/yr for the past few years + another 40k/year in P&I on the mortgage. Don't go out due to dietary restrictions for my better half which helps. The real key is we're DINKs with healthy salaries for the time being.

I think we're getting close to winding down, SO probably in the next year, I'm aiming for 3-5, mostly due to golden handcuffs and being young enough in prime earn years.

2Birds1Stone

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Re: Race from $2M to $4M...and Beyond!
« Reply #3637 on: August 08, 2020, 12:12:01 AM »
Thanks all!

We've been running about 25k/yr for the past few years + another 40k/year in P&I on the mortgage. Don't go out due to dietary restrictions for my better half which helps. The real key is we're DINKs with healthy salaries for the time being.

I think we're getting close to winding down, SO probably in the next year, I'm aiming for 3-5, mostly due to golden handcuffs and being young enough in prime earn years.

That is superstar spending! My hat's off to ya. DW and I had very similar expenses (+rent) and it helped accelerate the path to leanFI. Are you planning on having kids in the future?

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3638 on: August 08, 2020, 10:36:44 PM »
Getting back on topic.. I decided to check out our networth today.

Holy crap We are currently about $100k above our previous all time high!

I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

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Re: Race from $2M to $4M...and Beyond!
« Reply #3639 on: August 09, 2020, 01:10:58 AM »
Getting back on topic.. I decided to check out our networth today.
Holy crap We are currently about $100k above our previous all time high!
I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

Yup, apparently these are good times!  I'm still employed, so I have a bit of an aloof attitude toward needing the markets to stay up, but it might not be sustainable...  Who knows when Uncle Sam's multi-trillion dollar credit line will come due, and it's gonna suck when we have to start reassuring the borrowers that we're good for it.  Not only will we have to balance the budget, we'll also have to start actually paying interest!  I highly doubt Trump is up to the task, given his pattern reliance on default and bankruptcy. Seems like his only negotiating tool - to be so weak and useless that you give up on trying to secure anything of value from him.

Bateaux

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Re: Race from $2M to $4M...and Beyond!
« Reply #3640 on: August 09, 2020, 06:19:42 AM »
Getting back on topic.. I decided to check out our networth today.

Holy crap We are currently about $100k above our previous all time high!

I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

Did an early morning evaluation.  Working today and driving to Florida house tonight.  Every time we go it's harder to leave.  I normally don't include real estate in NW calculations.  So today I did.  2.9 million total is my very conservative estimate.  Of that, 2.5 million is liquid.  Counting down, 1054 days to go.  Properly using my paid days off only 439 work days till June 2023.  I can take a week off every month till then.  Not so bad.

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #3641 on: August 09, 2020, 06:49:40 AM »
Getting back on topic.. I decided to check out our networth today.

Holy crap We are currently about $100k above our previous all time high!

I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

I just checked and we are now at
Spoiler: show
5.2 million
in invested assets - our highest ever too :-)

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #3642 on: August 09, 2020, 08:33:50 AM »
So today I had a kinda eureka moment. My issue has been how to bridge the gap between now (age 46) and 55. One I hit 55 I have deferred comp from 55-70, and then I'll take social security at 70. Along the way I'd supplement it with savings/IRAs.

My eureka moment is taking the my pension lump sum from my old employer now and use that, in conjunction with an IRA SEPP and savings, to get to 55. The lump sum is worth $280k today, but if I start the payout it's only $1050 a month. The payout is dismal unless I wait to take it until full retirement (65).

So, I could delay the pension until say 70, and that with social security would give me a nice guaranteed income. I could then use my IRAs (paying 10% penalty) and draw that down to 70. It won't 100% gone, but it'll be significantly used up. Seems kinda risky in a way though I think. Drain IRAs early, and use guaranteed pension and SS after 70.

OR, I take my lump sum pension, use that and savings and a SEPP to get to 55, and that gives my IRAs plenty of time go grow more. IRAs and social security should be enough past 70.

Thoughts? As you can tell, I have many options on how/when to access money. I can now literally taste retirement if I go the take the pension lump sum today route. I do feel like IRAs and social security should be enough to give me a secure retirement after 70.

ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #3643 on: August 09, 2020, 08:43:20 AM »
You could live off the lump sum for 5 years while you set up a Roth conversion ladder. This would be more flexible than SEPP, which you would have to carry through to 59.5, rather than 55.

rmorris50

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Re: Race from $2M to $4M...and Beyond!
« Reply #3644 on: August 09, 2020, 08:47:55 AM »
You could live off the lump sum for 5 years while you set up a Roth conversion ladder. This would be more flexible than SEPP, which you would have to carry through to 59.5, rather than 55.
Does the Roth conversion ladder make sense since my spouse wants to keep working the next 10 years? I was kinda pushing the ladder out of mind since he will keep working but maybe I should revisit that.


Sent from my iPhone using Tapatalk

ixtap

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Re: Race from $2M to $4M...and Beyond!
« Reply #3645 on: August 09, 2020, 08:55:21 AM »
You could live off the lump sum for 5 years while you set up a Roth conversion ladder. This would be more flexible than SEPP, which you would have to carry through to 59.5, rather than 55.
Does the Roth conversion ladder make sense since my spouse wants to keep working the next 10 years? I was kinda pushing the ladder out of mind since he will keep working but maybe I should revisit that.


Sent from my iPhone using Tapatalk

There is no difference in taxes between SEPP and a conversion ladder, if you allow each conversion to season for five tax years.

Exflyboy

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Re: Race from $2M to $4M...and Beyond!
« Reply #3646 on: August 09, 2020, 03:23:52 PM »
Getting back on topic.. I decided to check out our networth today.

Holy crap We are currently about $100k above our previous all time high!

I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

I just checked and we are now at
Spoiler: show
5.2 million
in invested assets - our highest ever too :-)

I think anyone with more than $4M should be declared as a "THEM" and thrown out the group..;)

Buffaloski Boris

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Re: Race from $2M to $4M...and Beyond!
« Reply #3647 on: August 09, 2020, 04:08:45 PM »
Getting back on topic.. I decided to check out our networth today.

Holy crap We are currently about $100k above our previous all time high!

I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

I just checked and we are now at
Spoiler: show
5.2 million
in invested assets - our highest ever too :-)

I think anyone with more than $4M should be declared as a "THEM" and thrown out the group..;)

Naah. They’re an “and beyond” and an inspiration to the rest of us to get our acts together. :-p

Solidarity dontchaknow.

Exflyboy

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  • Expat Brit living in the New World..:)
Re: Race from $2M to $4M...and Beyond!
« Reply #3648 on: August 09, 2020, 04:30:22 PM »
Getting back on topic.. I decided to check out our networth today.

Holy crap We are currently about $100k above our previous all time high!

I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

I just checked and we are now at
Spoiler: show
5.2 million
in invested assets - our highest ever too :-)

I think anyone with more than $4M should be declared as a "THEM" and thrown out the group..;)

Naah. They’re an “and beyond” and an inspiration to the rest of us to get our acts together. :-p

Solidarity dontchaknow.

Exactly, bunch O slackers that we are..:)

2sk22

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Re: Race from $2M to $4M...and Beyond!
« Reply #3649 on: August 09, 2020, 04:31:59 PM »
Getting back on topic.. I decided to check out our networth today.

Holy crap We are currently about $100k above our previous all time high!

I can't believe the stock and bond markets will stay up around these levels with the economy in tatters but we'll take it for now.

I just checked and we are now at
Spoiler: show
5.2 million
in invested assets - our highest ever too :-)

I think anyone with more than $4M should be declared as a "THEM" and thrown out the group..;)

Naah. They’re an “and beyond” and an inspiration to the rest of us to get our acts together. :-p

Solidarity dontchaknow.

You'll have to get your inspiration elsewhere. I must surely have the dullest story of anyone here: I was paid reasonably well for developing software for 29 years and discovered index funds early :-)