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Motronic posted:You make a 5 year cash runway and/or quit or change jobs so you can start roth conversions until you are 59.5. If you retire at 55 you can start pulling from your 401k penalty free. https://www.fool.com/retirement/401k/2018/02/21/can-i-get-money-from-my-401k-at-55.aspx
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Nov 20, 2018 03:03
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TraderStav posted:If you retire at 55 you can start pulling from your 401k penalty free. That only works if you wait until your are 55 and only for the 401(k) account with that employer and doesn't include previous rollovers in that account as far as I recall. So that's a very specific outlier scenario for an already outlier scenario, but sure....I think it's possible.
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Nov 20, 2018 03:26
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I just searched relationships, personal finance, and legal advice for "boyfriend," "girlfriend," and "unemployed." There were a lot of entries, but they were all exactly the same and mostly boring: - Girlfriend is employed, usually makes a small amount of money, and is the breadwinner. - Boyfriend is unemployed and mad at her for pressuring him or being controlling with money. - Girl refuses to consider breaking up and wants budgeting advise. - Girl is obviously miserable and sinking deeper into debt/treading water. Just over and over. The ages were all over the place too; from 19 to 40. How do people get into these situations and refuse to ever bail? And how are these guys so unmotivated to do anything getting into relationships and with people so dedicated to staying with them? I got through about 15 entries before I just got bored and sad.
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Nov 20, 2018 03:32
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Motronic posted:That only works if you wait until your are 55 and only for the 401(k) account with that employer and doesn't include previous rollovers in that account as far as I recall. Not that much of an outlier. If you have a solid overall portfolio you can accumulate enough in your "last" 401k to bridge 4.5 years to access the rest. That's a huge tool if you're on track for early retirement. I get medical if I stay until 55 at my company and have ten years service.
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Nov 20, 2018 03:33
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Leon Trotsky 2012 posted:I just searched relationships, personal finance, and legal advice for "boyfriend," "girlfriend," and "unemployed." Boomers and early Gen X raised a generation of children.
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Nov 20, 2018 03:35
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TraderStav posted:Boomers and early Gen X raised a generation of children. Boomers and early Gen X are the most spoiled and dumbest generations to walk the face of the Earth, no surprise they'd gently caress yet another thing up and then blame someone else
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Nov 20, 2018 03:37
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TraderStav posted:Not that much of an outlier. If you have a solid overall portfolio you can accumulate enough in your "last" 401k to bridge 4.5 years to access the rest. That's a huge tool if you're on track for early retirement. Bring out the guillotine, but $83,250 plus gains, even in this market, ain't gonna cut it. And if I lived somewhere that it would I wouldn't be making "max out my 401(k)" money.
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Nov 20, 2018 04:07
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Shamelessly stolen from the Bitcoin thread. Amethyst posted:https://twitter.com/Cryptopanini/status/1064398998994214913 God yes that's the stuff!!!
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Nov 20, 2018 04:07
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Motronic posted:Bring out the guillotine, but $83,250 plus gains, even in this market, ain't gonna cut it. And if I lived somewhere that it would I wouldn't be making "max out my 401(k)" money. Not sure where that number comes from. You think people are still job hopping every 3 years in their 50s? Not terrible to assume someone got a job at 45 and settled in for a decade before retiring at 55. That's 185,000 plus gains. If you can't make that work over 4.5 years you probably need the guillotine yourself. This is of course assuming you saved well and kept costs reasonably low so that you can afford to retire at 55. poo poo, what thread am I in?
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Nov 20, 2018 04:10
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TraderStav posted:Shamelessly stolen from the Bitcoin thread. Yes but have you ever considered the following:
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Nov 20, 2018 04:12
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Guest2553 posted:Yes but have you ever considered the following: Yeah, if you work 40 hours plus weekend overtime at Subway.
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Nov 20, 2018 04:12
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TraderStav posted:Not sure where that number comes from. 4.5 x $18,500. It's a "worst case" scenario that is actually not even worst case if you invest wrong or the market in general is plummeting. You know, basic sane retirement assumptions for a portfolio. But you YOLO however you like.
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Nov 20, 2018 04:17
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Motronic posted:4.5 x $18,500. It's a "worst case" scenario that is actually not even worst case if you invest wrong or the market in general is plummeting. You know, basic sane retirement assumptions for a portfolio. I don't think you understand the math. You don't contribute to your 401k in the 4.5 years after you retire until 59.5, you are withdrawing. I'll lay out a potential plan, this assumes you have enough in your entire portfolio to retire at 55. Just assume that. Person gets job at company X at age 45 and contributes max to 401k of $18,500, assuming max never lifts he has $185,000 in contributions at age 55. Ignoring gains of $83k if we go with 8% that means to provide income until this person can access the REST of their retirement portfolio they have a bit over $40k a year (plus six months) on just the contributions to live on. Not crazy if they have a paid off house at that stage. Not an uncommon scenario for high savers or dual income folks to have enough to retire in mid 50s. This is a solution to enact that without having to have 4.5 years income in taxable accounts, which these folks likely do because they rock at finance. Comprende now?
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Nov 20, 2018 04:23
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TraderStav posted:they have a bit over $40k a year (plus six months) on just the contributions to live on. Not crazy if they have a paid off house at that stage. That might be enough to almost pay for their health insurance
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Nov 20, 2018 04:35
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TraderStav posted:I don't think you understand the math. You don't contribute to your 401k in the 4.5 years after you retire until 59.5, you are withdrawing. I'll lay out a potential plan, this assumes you have enough in your entire portfolio to retire at 55. Just assume that. So now you're doing "best" case math. I don't think you understood what I was saying, but shine on you crazy diamond. And read the post above this one.
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Nov 20, 2018 04:39
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Best case math is you earn 0% over 10 years? Jesus, I knew this thread was dark, but not this dark. Real cynics in here. If the market tanked that bad (50% loss over a decade is catastrophic), then the plan failed and you work longer. Not a lot of rocket surgeons in here.
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Nov 20, 2018 04:42
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Leon Trotsky 2012 posted:How do people get into these situations and refuse to ever bail? And how are these guys so unmotivated to do anything getting into relationships and with people so dedicated to staying with them? Probably something of a sick system.
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Nov 20, 2018 05:20
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TraderStav posted:Best case math is you earn 0% over 10 years? My dude, have you looked at the markets lately? Keeping your money is a good outcome over the next 30+ years, because it means our economy hasn't entirely collapsed under the effects of global warming. Also, noticed in my benefits package renewal that the IRS upped the 401k limit for 2019 to $19k. Liquid Communism fucked around with this message at 05:56 on Nov 20, 2018 |
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Nov 20, 2018 05:53
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Volmarias posted:While IMO industry experience counts for more than a Master's, I'm also not an unthinking, automated HR resume scanner (that may or may not be human) that prizes the applicant with "Masters" more highly, or discards management position applications for resumes without it. a year at amazon or microsoft is worth way more than a masters (especially on a resume if you need a job), even ignoring the 360k delta he’s looking at
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Nov 20, 2018 07:37
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Leon Trotsky 2012 posted:How do people get into these situations and refuse to ever bail? And how are these guys so unmotivated to do anything getting into relationships and with people so dedicated to staying with them? women are socialized to feel worthless if they’re not in a relationship and people can be really dedicated and driven when it comes to doing nothing
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Nov 20, 2018 07:39
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If he’s $160K at Amazon he should just go work for a less demanding company for like, $140K. Less demanding being basically any other company (other than Asian companies where they work people to death so often that there’s a term for that phenomenon in their society).
Blinkman987 fucked around with this message at 08:28 on Nov 20, 2018 |
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Nov 20, 2018 08:23
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Maybe the poster can use the MS to launch themselves into more interesting projects instead of doing bottom of the barrel stuff that BS level engineers end up doing. Sounds like they have more on their mind than simply how big a paycheck can be. The anti-intellectualism of "don't get a masters, a year's of industry experience is more valuable than any amount of education" is sickening.
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Nov 20, 2018 09:07
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academia is poo poo and doesn't contribute to any sort of intellectualism.
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Nov 20, 2018 09:53
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Shipon posted:Maybe the poster can use the MS to launch themselves into more interesting projects instead of doing bottom of the barrel stuff that BS level engineers end up doing. Sounds like they have more on their mind than simply how big a paycheck can be. It's hilariously sad and short-sighted. A "normal" masters takes 2-3 years, and some prestigious places don't even offer a terminal masters track. The quickie masters at places like MIT/Stanford/wherever this guy is takes only an extra year. At a minimum, it will ensure he is pretty much never screened/passed over for any higher level job because he only has a BS. Who knows, maybe he'll decide that being a code monkey isn't for him and he'll decide to do something completely different. In any case, the job at Amazon will be there next year. Starting work at 22 vs 23 is a drop in the bucket. Residency Evil fucked around with this message at 12:09 on Nov 20, 2018 |
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Nov 20, 2018 11:54
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if the brother is not sure what he wants to do i think it's a good idea to go do some work before deciding on additional more specialized academic qualifications but what do i know, i stopped after my BA
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Nov 20, 2018 12:18
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Shipon posted:Maybe the poster can use the MS to launch themselves into more interesting projects instead of doing bottom of the barrel stuff that BS level engineers end up doing. Sounds like they have more on their mind than simply how big a paycheck can be. Also lol if you think a 1 year master's degree makes someone more intellectual. Also, this: Methanar posted:academia is poo poo and doesn't contribute to any sort of intellectualism.
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Nov 20, 2018 12:24
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Residency Evil posted:In any case, the job at Amazon will be there next year.
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Nov 20, 2018 12:27
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Since no one is going to convince anyone here, I'll keep it short.KYOON GRIFFEY JR posted:if the brother is not sure what he wants to do i think it's a good idea to go do some work before deciding on additional more specialized academic qualifications but what do i know, i stopped after my BA No. The M. Eng is only a year. Dik Hz posted:Do you have any actual experience to back this up? Yes. Dik Hz posted:Not necessarily. And even if it is, there may be more applicants. Or they may really just need fresh BS grads. Or he might wash out of the Master's for reasons outside his control. No. The job will be there next year. Or maybe he'll attract the eye of a more attractive place to work for than Amazon.
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Nov 20, 2018 12:42
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Liquid Communism posted:My dude, have you looked at the markets lately? Recent markets shouldn't change your investment planning. If it happens when you need to retire you may need to delay retirement, but over a longer period these are just blips. A 45 year old should not be in 100% stocks, so should be insulated. Find a ten year period where a 50/50 portfolio returned negative (let alone -50% like the other example lol). Don't forget to include interest and dividends. There isn't one Basic risk management.
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Nov 20, 2018 12:48
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Obligatory https://www.fresnostate.edu/jcast/fresnostatehorses/
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Nov 20, 2018 12:53
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Horses AND student loan debt?! Awesome start to my day MB
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Nov 20, 2018 12:53
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Full disclosure, I tried to search for masters degrees for horses, not masters degrees working with horses, so in that regard, I failed.
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Nov 20, 2018 13:03
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Murderball posted:Full disclosure, I tried to search for masters degrees for horses, not masters degrees working with horses, so in that regard, I failed. University of Mane Neighbraska State University Fowling Green Michigan State University
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Nov 20, 2018 13:10
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Residency Evil posted:Since no one is going to convince anyone here, I'll keep it short.
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Nov 20, 2018 13:10
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I'm the pictures with only women in them.
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Nov 20, 2018 14:03
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My personal experience was that when I applied for a management job with ten years of experience but no master, I was less qualified with the guy with no experience but a master. Then six months later when I finished my master, I was suddenly qualified to be a manager 
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Nov 20, 2018 14:44
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Shipon posted:Maybe the poster can use the MS to launch themselves into more interesting projects instead of doing bottom of the barrel stuff that BS level engineers end up doing. Sounds like they have more on their mind than simply how big a paycheck can be.
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Nov 20, 2018 15:12
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Shipon posted:The anti-intellectualism of "don't get a masters, a year's of industry experience is more valuable than any amount of education" is sickening. Do you not understand the tech landscape or are you desperately clinging to your sunk cost?
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Nov 20, 2018 15:33
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I got my BS, thought about a masters but decided to work instead. Worked for three years, then went back because I had a much better idea of what work was like, what I wanted, and confirmed I actually did want to do this as a career. Got my Master's after two years and been working for five after that. Been thinking about a PhD but it would lock me out of the stuff I actually most enjoy doing and it's hella late in my career to do that I highly recommend it to anybody with the option, I came back to school way more focused and with relevant experience to share and build on. To bring it back to BWM, it took a while to adjust back to a students salary. I had a bunch of money saved up because I anticipated that, but still blew through it all the first semester because I'd gotten used to eating out all the time and still saving money - no longer possible on a grad student stipend. DarkHorse fucked around with this message at 15:38 on Nov 20, 2018 |
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Nov 20, 2018 15:35
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One of my coworkers today was explaining that they finally finished trying to get a new car with fewer miles and lower their monthly payment. She had about 95,000 miles on her current car. She ended up going to a bunch of websites and dealerships to try and find something with fewer miles and lower payments. Then, when she couldn't find any for a while, she got frustrated and just decided to buy one from the dealership with fewer miles because she was committed to the idea and the time she spent on it. She ended up trading in her car for a used car from a dealership with 88,000 miles on it, rolled her negative equity into this new car (I don't know how much, but she said that she got $4,000 credit for the trade-in, which was a 2014 Ford Escape, and rolled the rest of the loan into the new loan), and got a new 6-year loan with the same monthly payments. She was also praised as smart for doing this by my boss because she has the same monthly payments, but 7,000 fewer miles. This is the same boss who went to get her car serviced at the dealership and ended up leaving with "a free upgrade" to the 2018 model of her car, where basically the same thing happened. She has 30 days to return it and I gently suggested she might want to do that. But, my boss jumped in and said, "Why would she do that? She got lower miles with the same cost. I did the the same thing and it worked out fine." I just left it. Leon Trotsky 2012 fucked around with this message at 15:41 on Nov 20, 2018 |
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Nov 20, 2018 15:38
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