Author Topic: Case Study- Changes are coming  (Read 2625 times)


  • 5 O'Clock Shadow
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  • Posts: 18
Case Study- Changes are coming
« on: March 09, 2016, 05:35:46 PM »
Hello all,

I'm looking for a new gig as new circumstances have come about (I want a new job/fiance is getting a new job which will require her to move), and I just want some help to make sure I am on a semi decent track money-wise i.e. not doing anything too stupid.  I'm not trying to be completely retired at this time either, but I still hope I can get some input.

Life Situation-Single, no kids, live in Illinois (I'm going to have to move to another state which is currently unknown-property taxes here are nuts).

Gross Salary- $84,000 starts in June. $80 k in 2015.

Pre tax- 9.91 percent into pension fund. Social security/medicare is included. I also get disability from Aflac at $15.00 a month.  Union fees are $35 a month.

Other ordinary income-None

Other Retirement- I have a Roth IRA through Fidelity.  I split it 80/20 or so between their bio tech and consumer staples (want to switch since staples is not doing too well).  I hope to have this years IRA max contribution completed by April 18th.

Rental- I live at the mother in laws free of charge.

After taxes- After the above mentioned pay and taxes, each paycheck I receive (bi weekly) is around $1,880.  I got $2k back in taxes this year.

Current expenses/property-

         Gas- $50-$75/mo.
         Grocery-$350 mo

         Gym- $10 mo

         Car/Boat ins- $80 mo (going to sell the boat)

         Cell Phone- $50
         Weddings-$200/mo- my friends dont save like me and I have averaged 7 weddings a year for the last 4 years.  I have three this year.  I'm standing up/going on trips for bachelor parties for two. Yes its expensive but my friends are important

         Travel- $300- My girlfriend is out of state and I do what I can for airfare. This will eventually be lowered.

Assets- Pension probably has around $50 K tax deferred
            Roth IRA- depends on the day
           Cash- $64,000 K (I was going to buy a house a few years ago so I just kept putting cash here)
           Yes I should have more saved but I helped the parents finish their mortgage off and got them a new bathroom (inheritance), and I did not start making this salary until last year.

Liabilities- Nothing at the moment

Specific Question- So I will be switching jobs in the not too far distant future. The fiance will be finishing her doctorate up (huge debt but is going to do income base repayment and can get more incentive depending on where she goes).  She should be making over $100 k in four years (she is not in private practice yet).  We may be switching states so I dont know if its a good idea to buy a house wherever we move (or save more to buy the house in cash), or move my liquid cash somewhere else.  I hear a lot about Vanguard, and I'm always hesitant to buy online. Any suggestions?  I.e. which Vanguard account to open?  All I want is some insight and if anyone has any further questions, please let me know.
Thanks to everyone your help!


  • Bristles
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  • Posts: 311
Re: Case Study- Changes are coming
« Reply #1 on: March 09, 2016, 05:57:36 PM »
Should you really be switching jobs right now?  Shouldn't you wait and see where you fiancÚ ends up and then move there?


  • Magnum Stache
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  • Posts: 2515
Re: Case Study- Changes are coming
« Reply #2 on: March 09, 2016, 06:20:23 PM »
Does your fiancÚ know about your girlfriend?


Wow, a phone plan for fifteen bucks!