Race from $2M to $4M...and Beyond!

[MaybeBabyMustache]

Not ExFlyboy, but we had some pretty good sushi downtown during our visit!  The park by the river is a nice walk (we stayed at the cheapish hotel just a couple of blocks north of the bridge -- I think it is a Holiday Inn Express?).

Congrats on having made the decision and hope it turns out to be a great fit for your kiddo!

thanks! We are excited to spend time visiting. I grew up not super far away & have never spent time there. I think it will be a great fit for him, and also super happy the decision is made! On to the same process for DS17. ;-)

[PathtoFIRE]

In this trip, I splurged and paid for an extra night to ensure that a room would be waiting for us when we arrived in the morning - luxe travel for sure :-)

We did the same for a recent trip with overnight international flight...then our flight times were shifted late enough that it wouldn't have mattered, but additional peace of mind is definitely worth a few extra $.

[Another Reader]

Good job, @Dicey!  I paid too much last tax year and this one.  I can't find any property to buy that makes sense and mortgage rates make the numbers worse.  Grrrr...

[couponvan]

I’m bougie economy-floor foot sling, the face cushion you blow up, drugs to knock me out, and a lumbar  pillow. I’m also 5’7” and 150, so not “that” big, and the neck pillow with noise canceling headphones. I probably would put a day in between legs of a 24 hour travel and add an extra week of hotels for the $1K per ticket cost.

[jeroly]

@2sk22 how long was the flight? I am usually in the “economy flight for luxury rooms” camp because flight times are short and business class isn’t “that” much better than economy.

It's around 24 hours from the east coast to get there - maybe a bit less if you get a nonstop to Singapore (pricier ticket) and get a good connection for the 2+ hour flight to Jakarta.  My return via Jeddah left at 1:20pm EDT and arrived at 3:10pm the next day and included a three hour layover.  The other times I've been there I had traveled via Tokyo and it was about the same travel time.

ETA: Oops, sorry, @couponvan , thought you were asking about the flight of @2sk22 to Indonesia, I forgot about the earlier post...

This reminded me - I visited Indonesia back in 1989 and had a wonderful time. I took the day train from Jakarta to Bandung which was over air-conditioned like you mentioned and shivered in a T-shirt. Apart from Java, I also visited Padang on the west coast of Sumatra and Bali (of course).

[Car Jack]

So I thought this might be funny to tell.

What would you think the OP of this thread who is now retired with around $4.4M and paid off everything does?  Well, I was at our local Habitat for Humanity ReStore and they had a 10 cent sale on all media.  So I went in with my phone and a box and went through their CDs one by one on my decluttr app (they buy this stuff).  When the box was full and I was done with doing this, I brought my 39 CDs to the counter, paid about $4 with tax and then got the label and mailed these to decluttr for $21 to me.

Exciting, eh?  I like doing stuff like this and figured some of you do too.

[couponvan]

So I thought this might be funny to tell.

What would you think the OP of this thread who is now retired with around $4.4M and paid off everything does?  Well, I was at our local Habitat for Humanity ReStore and they had a 10 cent sale on all media.  So I went in with my phone and a box and went through their CDs one by one on my decluttr app (they buy this stuff).  When the box was full and I was done with doing this, I brought my 39 CDs to the counter, paid about $4 with tax and then got the label and mailed these to decluttr for $21 to me.

Exciting, eh?  I like doing stuff like this and figured some of you do too.

Penny wise….but you had fun! I do this silly stuff too. A penny saved is a penny earned.

[Dicey]

So I thought this might be funny to tell.

What would you think the OP of this thread who is now retired with around $4.4M and paid off everything does?  Well, I was at our local Habitat for Humanity ReStore and they had a 10 cent sale on all media.  So I went in with my phone and a box and went through their CDs one by one on my decluttr app (they buy this stuff).  When the box was full and I was done with doing this, I brought my 39 CDs to the counter, paid about $4 with tax and then got the label and mailed these to decluttr for $21 to me.

Exciting, eh?  I like doing stuff like this and figured some of you do too.

Badass!

[pecunia]

So I thought this might be funny to tell.

What would you think the OP of this thread who is now retired with around $4.4M and paid off everything does?  Well, I was at our local Habitat for Humanity ReStore and they had a 10 cent sale on all media.  So I went in with my phone and a box and went through their CDs one by one on my decluttr app (they buy this stuff).  When the box was full and I was done with doing this, I brought my 39 CDs to the counter, paid about $4 with tax and then got the label and mailed these to decluttr for $21 to me.

Exciting, eh?  I like doing stuff like this and figured some of you do too.

I wish my local Restore sold CDs.  Isn't it just kind of fun to find "diamonds in the rough?"  It's a little like gold mining and finding a nugget.

[Fomerly known as something]

I don’t do thrift store.  Mainly because I’m not interested in the whole treasure hunt thing.  I don’t even really like places like TJMaxx.  I’m more of the I need black pants, go find them quickly type of person.  And if I know a brand I like and I can quickly go there even better.

[Car Jack]

I don’t do thrift store.  Mainly because I’m not interested in the whole treasure hunt thing.  I don’t even really like places like TJMaxx.  I’m more of the I need black pants, go find them quickly type of person.  And if I know a brand I like and I can quickly go there even better.

You sound like me when I have a specific task.  I've done Christmas shopping at the mall.  Car is parked and I'm in and out in 15 minutes and bought presents for 10 people. 

I left out that when I go to ReStore, it's when DW is grocery shopping at market basket.  I drop her, go to the cheap gas station and fill up.  Go in for the free coffee for filling 8 gallons or more, then off to ReStore for maybe 20 minutes. 

While I will shop for clothes at Savers and Goodwill, it's rare that my favorite stuff is at either.  But I do pick up T shirts from my alma mater for $1.99 where as my son says (he went there too), it would be $40 at the college bookstore.

[EscapeVelocity2020]

My daughter likes to shop at Goodwill, but these days I just prefer to avoid crowds.  I'd much rather be outside walking with DW or listening to an Audiobook. 

[dividendman]

I don’t do thrift store.  Mainly because I’m not interested in the whole treasure hunt thing.  I don’t even really like places like TJMaxx.  I’m more of the I need black pants, go find them quickly type of person.  And if I know a brand I like and I can quickly go there even better.

I'm the same. I know what I like to wear. Once I find something I like, I buy like 4+ copies, then I don't need to buy that type of item again for years and I keep an eye out for sales. I have 3 pairs of shoes just sitting in boxes. My shoes wear out fast and I wear the same ones... I also wear pretty much the same thing every day so it makes everything simpler.

[couponvan]

Ticking another $.5 off this race….$.5 to go. I am ready for the beyond after all this treading water the past few years.

[2sk22]

Ticking another $.5 off this race….$.5 to go. I am ready for the beyond after all this treading water the past few years.

I assume you left off the M suffix? :-) And what plants do you have once you become a beyonder?

[Bateaux]

If there is one thing we're lacking financially it's cash/taxable accounts. We poured everything into 401K, IRA and non income producing real estate. I'm actually receiving my pension now. The pension is enough to pay most of the expenses, but not all. There is a decent buffer of cash, probably more than enough for quite a while. I'm just wanting a bit larger cash float than current. So using the Rule of 55, I'm taking a small draw from my 401K.  I figured I could do this electronically and just use my 401K like a checking account. Unfortunately it's not that simple. It requires the filing of 5 paper documents each time you take a distribution. You can fax the papers to Schwab, I used a stamp. So I'm using the Pony Express to request funds in 2024. Once you reach 59.5 years of age it will get simpler. You can roll over to an IRA and draw without penalties from your account online. Anybody else have to do this? Just seems a bit archaic.

[lhamo]

You know there websites/apps that will send a fax of a pdf over the internet, right?  I guess maybe security of account information is a concern.  But would save you the cost of a stamp and some time waiting for the Pony Express to deliver.

[Turtle]

If there is one thing we're lacking financially it's cash/taxable accounts. We poured everything into 401K, IRA and non income producing real estate. I'm actually receiving my pension now. The pension is enough to pay most of the expenses, but not all. There is a decent buffer of cash, probably more than enough for quite a while. I'm just wanting a bit larger cash float than current. So using the Rule of 55, I'm taking a small draw from my 401K.  I figured I could do this electronically and just use my 401K like a checking account. Unfortunately it's not that simple. It requires the filing of 5 paper documents each time you take a distribution. You can fax the papers to Schwab, I used a stamp. So I'm using the Pony Express to request funds in 2024. Once you reach 59.5 years of age it will get simpler. You can roll over to an IRA and draw without penalties from your account online. Anybody else have to do this? Just seems a bit archaic.

I am not yet retired, but in the same boat as far as most of my allocations go.  Is the paperwork due to laws around Rule of 55, or the 401k itself?  Or both?

[Fomerly known as something]

If there is one thing we're lacking financially it's cash/taxable accounts. We poured everything into 401K, IRA and non income producing real estate. I'm actually receiving my pension now. The pension is enough to pay most of the expenses, but not all. There is a decent buffer of cash, probably more than enough for quite a while. I'm just wanting a bit larger cash float than current. So using the Rule of 55, I'm taking a small draw from my 401K.  I figured I could do this electronically and just use my 401K like a checking account. Unfortunately it's not that simple. It requires the filing of 5 paper documents each time you take a distribution. You can fax the papers to Schwab, I used a stamp. So I'm using the Pony Express to request funds in 2024. Once you reach 59.5 years of age it will get simpler. You can roll over to an IRA and draw without penalties from your account online. Anybody else have to do this? Just seems a bit archaic.

It varies.  I’m lucky with the Governments TSP, I will be able to just make electronic withdrawals, although I have to make sure at the end of the year they didn’t fuck up and code it wrong.  (Aka last year they did for many people so had to reissue 1099s).  since we have special rules to let us get at our money earlier.  On the other hand, for the past 24 years I’ve been working in insurances that are illegal for any employer besides the federal government.  (We aren’t subject to all labor laws go figure).

[Bateaux]

If there is one thing we're lacking financially it's cash/taxable accounts. We poured everything into 401K, IRA and non income producing real estate. I'm actually receiving my pension now. The pension is enough to pay most of the expenses, but not all. There is a decent buffer of cash, probably more than enough for quite a while. I'm just wanting a bit larger cash float than current. So using the Rule of 55, I'm taking a small draw from my 401K.  I figured I could do this electronically and just use my 401K like a checking account. Unfortunately it's not that simple. It requires the filing of 5 paper documents each time you take a distribution. You can fax the papers to Schwab, I used a stamp. So I'm using the Pony Express to request funds in 2024. Once you reach 59.5 years of age it will get simpler. You can roll over to an IRA and draw without penalties from your account online. Anybody else have to do this? Just seems a bit archaic.

I am not yet retired, but in the same boat as far as most of my allocations go.  Is the paperwork due to laws around Rule of 55, or the 401k itself?  Or both?

According to Schwab some companies have a bit easier set-up. It's far better than 72T which has few choices. The paperwork took me all of 10 minutes to fill out and mail. It's not a problem a large portion of the population has. It's a 4.5 year window of life for those that retire and use the option.

[couponvan]

Ticking another $.5 off this race….$.5 to go. I am ready for the beyond after all this treading water the past few years.

I assume you left off the M suffix? :-) And what plants do you have once you become a beyonder?

Yes.  Well, the plants I want to have when I become a beyonder are lots of drought resistant California native versions that are also decent in wildfire situations because our retirement home will be in CA wine/fire country.

As for plans for when I become a beyonder, that really depends on family and what is going on.  Once March 2026 hits, I'm not working anymore as the kids will be finished with college.  DH doesn't want to hang up his hat before 55, so that's 2027 at the earliest (if he retires, his options/stock vest immediately - so he could lock in his profits).  I'm 55 in March 2026.  There will be much travel from one spot to another I predict.

[2sk22]

....
As for plans for when I become a beyonder, that really depends on family and what is going on.  Once March 2026 hits, I'm not working anymore as the kids will be finished with college.  DH doesn't want to hang up his hat before 55, so that's 2027 at the earliest (if he retires, his options/stock vest immediately - so he could lock in his profits).  I'm 55 in March 2026.  There will be much travel from one spot to another I predict.

Kids graduating from college is a great point to retire. In my case, I actually retired the year before my younger daughter started college but it was fine as my wife is still working. Also, it's great that your husband's options vest immediately when retiring. I left a lot of unvested options on the table when I retired - but at some point, enough is enough.

[PathtoFIRE]

<snip> Governments TSP, I will be able to just make electronic withdrawals <snip>

My wife has a TSP, and I have something in the back of my mind that the TSP, at least at one time, only allowed two withdrawals; everyone was allowed one partial, but then any second withdrawal must be for the entire remainder. Did I have that wrong, or was there a change in the last few years?