[M_Six]

Originally Posted by wtwo3

Do you guys do more than 401k max out? I don't qualify for roth ira (although I suppose there's a backdoor way), so outside of 401k I do have a separate investment account that I contribute post-tax $ into. Just mutual/index funds, nothing fancy.

It's hard for me to gauge how much I'd need in retirement. I like fancy vacations and nice cars, so I thought perhaps a $200k/year income in retirement (where I'll have a paid off mortgage, no childcare expenses, no student loans, etc) based on today's $ value would be sufficient. But not sure if that's more than I need or just right. For me to sustain something like a $200k/year income I'd need a nest egg of about $5 million invested into low risk accounts that I can pull from at a rate of 4% annually (4% of 5M = $200k).

We have 457(b) plans. Pretty much the same contribution limits, but no early withdrawal penalty.

"One of the most striking differences between 401(k) and 457(b) plans is that there is no 10% early withdrawal penalty in 457(b) plans," says Carter. "They are intended to be supplemental savings plans for government workers that also have a pension, including public safety workers like police officers and firefighters, who tend to retire earlier than private-sector workers."

I haven't started withdrawing from my 457(b) plan yet because I have a nice 403(b) from a previous employer. That's been my source since I retired 18 months ago and will continue to be for another 2 years. Then I'll start with the 457 plan. Plus I have a pension and a small SS income. And because I have a pension, I don't need to withdraw 4% from the 457. Currently pulling about 2.6% from retirement funds. Wifey is still working since she's 10 years younger. So we're in a bit of a different situation than most retirees. No debts at all, so aside from monthly bills it's all discretionary income, which is nice.

[Donkeyshins]

At this rate?

[440i6MT]

Originally Posted by wtwo3

Do you guys do more than 401k max out? I don't qualify for roth ira (although I suppose there's a backdoor way), so outside of 401k I do have a separate investment account that I contribute post-tax $ into. Just mutual/index funds, nothing fancy.

It's hard for me to gauge how much I'd need in retirement. I like fancy vacations and nice cars, so I thought perhaps a $200k/year income in retirement (where I'll have a paid off mortgage, no childcare expenses, no student loans, etc) based on today's $ value would be sufficient. But not sure if that's more than I need or just right. For me to sustain something like a $200k/year income I'd need a nest egg of about $5 million invested into low risk accounts that I can pull from at a rate of 4% annually (4% of 5M = $200k).

Brag about living in the Hamptons without saying you live in the Hamptons.

[wtwo3]

Originally Posted by 440i6MT

Brag about living in the Hamptons without saying you live in the Hamptons.

[UncleWede]

"A Brilliant red Barchetta from a better, vanished time" All this talk of "cars" (flying or otherwise) Where's the smart kid that invents teleportation???? wtwo3


Will pound notes require a new face yet?

I'll know whether this whole "senior discount" thing is worth it.

Bedtime will probably be around 8:30pm

[wtwo3]

Originally Posted by UncleWede

"A Brilliant red Barchetta from a better, vanished time" All this talk of "cars" (flying or otherwise) Where's the smart kid that invents teleportation???? wtwo3

[vreihen16]

Originally Posted by UncleWede

Will pound notes require a new face yet?

You do realize that those silly Brits don't have a one Pound note, right? Their smallest paper currency is the five Pound note. Everything smaller is in coins, which is probably why they call them pounds...as in weight.

I'm sure that the next question you have will be about how strip clubs operate with coins in place of the customary paper currency used on our side of the pond.....

[UncleWede]

Originally Posted by vreihen16

You do realize that those silly Brits don't have a one Pound note, right? Their smallest paper currency is the five Pound note. Everything smaller is in coins, which is probably why they call them pounds...as in weight.

I'm sure that the next question you have will be about how strip clubs operate with coins in place of the customary paper currency used on our side of the pond.....

These AI bots are getting better all teh time, even if I clear my browsing history.

And also necessary for that x-threading into the old thread, I simply can't get Billy Idol out of my head "Write it on a pound note" How the heck am I going to write it on a pound COIN? Wait, I do still have those rocks you gave me, from the old cave-graffiti days

[ezaircon4jc]

Originally Posted by UncleWede

"A Brilliant red Barchetta from a better, vanished time" All this talk of "cars" (flying or otherwise) Where's the smart kid that invents teleportation???? wtwo3


Will pound notes require a new face yet?

I'll know whether this whole "senior discount" thing is worth it.

Bedtime will probably be around 8:30pm

Don't care. We fought a war so we wouldn't have to care

Sometimes

Naw... It's more like 9:30p to 10P. Then you get to wake up when the sun shines in the bedroom Summers suck with the 0530 sunrise!

[schnellwagen]

Originally Posted by ezaircon4jc

Funny thing... I've heard this housing unaffordability schtick for the last 50 years!

It just keeps getting worse. It's actually gotten WORSE during the current cooldown, because the jacked up interest rates have made payments higher

[Robin_NL]

https://www.quantumrun.com/future-timeline/2032

Cheers
Robin

[Mosaud1998]

Robots taking over the world along with aliens, superman, batman, spiderman, and, the grinch.

[TboneS54]

You'll be on your 36th booster shot

[ezaircon4jc]

Originally Posted by schnellwagen

It just keeps getting worse. It's actually gotten WORSE during the current cooldown, because the jacked up interest rates have made payments higher

Interest rates are nothing like the early 80's. VA loans were 11% and one was lucky to get a conventional 13% loan. We were paying 11% on the first house we bought in 1983.

[schnellwagen]

Originally Posted by ezaircon4jc

Interest rates are nothing like the early 80's. VA loans were 11% and one was lucky to get a conventional 13% loan. We were paying 11% on the first house we bought in 1983.

Oh yeah I'm definitely not forgetting that. My dad bought a house in the 90s and managed to get 7%, which was shocking low for the era. Now our house is at 3%, which is unbelievable by the standards of yesteryear

[Captain Blood]

Originally Posted by 3.0L

It won't be pretty. Everyone will have calloused thumbs and will be morbidly obese.

Like the movie Wall-E?