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educate me 401-k

  1. #1426
    Lifer loudbeard's Avatar
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    Re: educate me 401-k


    On to the finer points of investing. I’m up in the lakes region this weekend, just went grocery shopping and noticed every old white man was wearing topsiders, bone shorts, and a fleece. Is this issued once you start your draw down?

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    I went to MMI I know what Im doing here chief

  2. #1427
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    What’s a boner short?

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  3. #1428
    Angry Gumball RandyO's Avatar
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    Re: educate me 401-k

    how easy is it to liquidate ammo ? I'm thinking it's a real good investment about now, maybe pick up 10 or 20 k rounds of 5.56, guessing a 25-30% return in a couple years, 150% if a Democrat gets elected

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  4. #1429
    Lifer tsorfas's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by RandyO View Post
    how easy is it to liquidate ammo ? I'm thinking it's a real good investment about now, maybe pick up 10 or 20 k rounds of 5.56, guessing a 25-30% return in a couple years, 150% if a Democrat gets elected
    If you are a member on a couple of “gun nuts” forums you d think that’s a good investment. The reality is, it is not. Because the people who would care about a 25% increase and expect a zombie apocalypse are already stocked up.

    - - - Updated - - -

    Quote Originally Posted by Chippertheripper View Post
    What’s a boner short?
    Also interested in the answer

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  5. #1430
    Soul Rider Paul_E_D's Avatar
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    Re: educate me 401-k

    I haven't bought my bone shorts yet, but I'm coming up on 2 years of being a landlord on the side. I have nothing but good things to say about that decision. 7 apts. Tenant complaints are rare. I have done one eviction so far. It went pretty easy (didn't go to court) and only cost me one month's lost rent. I spent so little on the building last year that I did owe 5k in additional income tax. Doh! I have spent a bunch this year, so that won't happen again.

    It's been such a good experience that I'm stockpiling cash to hopefully grab another property in the next 5 years. It will certainly make stepping away from my day job for good relatively painless in terms of $$. This is a type of investing that is effective and easy to understand. Plus, it's all available before retirement. It's a little extra work for a lot of extra income, not to mention the equity is building really fast. I feel protected from potential market madness due to the crazy political climate. Definitely something to consider.

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    Paul_E_D


  6. #1431
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    Without revealing any potential sensitive details, what sort of investment did it take to get into the building?

    I've considered this and have some $$ sitting around not doing much, and I'll have our primary house paid off shortly. My main concerns involve finding the right property in the right location. An "up and coming" town would be ideal.

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  7. #1432
    Soul Rider Paul_E_D's Avatar
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    Re: educate me 401-k

    I'm not sure how easy it would be to find a deal in an up and coming town. The pros are on it. I have my eye on properties in Greenfield/turners for that reason. Really, to get in, you need to look in down and out towns and possibly improve the property. Nicely maintained apts rent themselves, and for good money. The more units you have, the more you make. Period. Doesn't really matter where they are. Buying a distressed property and improving it is the only way to guarantee a big gain when selling. But that is more work. Even if the property just holds it's value, you end up with a lot of equity on someone else's dime.

    I kinda went big for my first property with 7 units, but I got a fair deal. My banker was happy. Buy in is expensive. I ended up putting 80k down, plus closing costs and paying the first year's insurance up front and some other hidden costs. I kinda of panicked at that point, but it's all good. I probably have about 150k equity in it and it makes great money. Every time I raise a rent, the value of the property goes up with it (theoretically).

    BTW, The bank is your business partner in this. They know good deals from bad and are a second set of eyes on it. A good local bank is a big help in this regard.

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    Paul_E_D


  8. #1433
    Super Moderator TheIglu's Avatar
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    Re: educate me 401-k

    How are you fellow savers doin this year?

    Still maxing out the 401k. Also maxxed out both ROTH IRA's for the wife and I to the tune of another $12k. Finally finished today. Means I'll get December off, then back at it again.

    Returns on the retirement accounts have been decent, but not stellar. The big dip last January hurt.

    I'm getting nervous about the market. Sure, it CAN go up for a long time, but I'm starting to consider moving more of a percentage into bonds to hedge against the drop. Been burned before. Don't want to be burned again. Willing to forgo some potential larger gains for some stability and a more advantageous position if the market drops. Still undecided at this point what my final plan will be. I'm at 20% bonds currently, which is rather conservative for my age. Maybe another 10%. I dunno. Damn lack of crystal ball.


    Calculated out gross vs net on the paycheck after retirement, health care, etc. 52%. I'm taking home essentially what I was taking home 14 years ago while renting a cheap place and racing motorcycles.


    Had a meeting with a fiduciary financial adviser that manages our workplace retirement plan. Went through the finances and plan. He was surprised to say the least. "Maybe you can teach me some things". Heh. Well, drop that expensive watch for starters. Ended the meeting saying the only thing he'd do different is to do all ROTH contributions vs pre-tax. Wouldn't that reduce my take home even further? Not sure I can get behind that at this point. Already have six figures of post-tax contributions sitting there, plus both ROTH IRA's, so we have some flexibility.

    Guy ended the meeting with "so you're going for that FU money, huh?". Yup. Damn right. 14 years to go.

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    Last edited by TheIglu; 11-01-19 at 10:53 AM.
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  9. #1434
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    I'm stacking cash until I see how my taxes shake out: first year of taxes in a new state and first year of taxes with a rental property. It could be a very very bad year.
    I also have a chunk of options vesting early next year that I need to consider whether or not I exercise - which means a cash outlay as well as a big tax consequence the next year - just to alleviate a potential tax impact years and years after.

    If anything is left over after all of that shakes out, I'll use it to pay off more of my rental property. The thought of owning that without a monthly cost basis is staggering. It would give me so much flexibility about "what to do next."

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    Last edited by JettaJayGLS; 11-01-19 at 01:13 PM.
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  10. #1435
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    Dudes watch is part of his costume. Costume tells people "trust me, I got this, yo". May not work for you or some, but I bet it works on more people than it doesn't.


    ROTH vs trad is a debate I do all the time too. So far my opinion is that ROTH over trad only works for people who earn relatively little (and thus are in lower tax brackets) or are planning on spending close to what they make in "retirement". If you are looking to spend significantly less than you currently make AND you are in a relatively high bracket, then deferring the tax is a smart move IMO. You'll dodge the relatively high tax you would have paid now and then have space to roll money trad => roth later at a lower rate.
    I never intend to have annual spending anywhere near my current income. So every penny I save in trad right now is a penny I'm not paying that top rate on.

    All that assumes rates, structures and such remain kind of like they are today. All bets are off if things change substantially.


    Returns wise.. I don't track well enough. But I ain't complaining.


    I haven't been able to max IRAs this year. Kids are expensive, yo.
    By my math it barely matters at this point anyway. I'm far more sensitive to market returns than savings rate now. The snowball is rolling and has a mind of its own.
    My big wildcard is spending. We do a lot of that lately. My best guess says 4.5-6 years left. But confidence in that number is low due to spending. And I am still not sure I'm accounting for health care costs correctly.


    Another big variable for me is the house. I've been neglecting it and we are looking at some high-dollar improvements. I still need to do the roof and am now thinking new siding and windows. Following R7 on the social media is a bad influence.
    I haven't refi'ed yet, so I can still pull that lever. Rates are baller again. We are considering pulling some equity to pay for improvements instead of tapping savings. It's nice having choices.

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  11. #1436
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by nhbubba View Post

    ROTH vs trad is a debate I do all the time too. So far my opinion is that ROTH over trad only works for people who earn relatively little (and thus are in lower tax brackets) or are planning on spending close to what they make in "retirement". If you are looking to spend significantly less than you currently make AND you are in a relatively high bracket, then deferring the tax is a smart move IMO. You'll dodge the relatively high tax you would have paid now and then have space to roll money trad => roth later at a lower rate.
    I dig that train of thought.

    Quote Originally Posted by nhbubba View Post

    I haven't refi'ed yet, so I can still pull that lever. Rates are baller again.
    My mortgage broker had me going down this path until he learned it wasn't owner occupied anymore It was a big kick in the balls.

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  12. #1437
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    I'm occupying.

    If I were willing to reset to a fresh 30 year I could free up $500/mo to spend on windows and siding. Or pull $100k now and still cut the payment by $40.
    The challenge is if I want to keep the same payoff term.. And of course, I want to do that.

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    Last edited by nhbubba; 11-01-19 at 02:03 PM.

  13. #1438
    Burns retinas nhbubba's Avatar
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    Re: educate me 401-k

    On a related note.. I recently broke one of my investing rules and now own individual stocks.. I now have a few bucks in TSLA.

    I'm probably listening to too much lefty news nowadays. But I've been thinking hard about some of the shit I invest in. Not as sure I want to be tied up in defense contractors and big oil anymore. This TSLA move was-in my mind-a money-where-your-mouth-is move. Albeit a tiny one.

    Ya'll buy electric now. Mmkay.

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  14. #1439
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    The EV space is well and alive out here. I think all the MFGs will share it though, not just Tesla. While I was at KPMG, our Detroit office was investing a lot of dollars to understand the market because the major car brands were heavily investing in it. But I'm opinionated, I hate Teslas for completely unrelated reasons. They are supercar wide and make lane splitting nearly impossible. If two are next to each other (which happens ALL THE DAMN TIME) fuggetabowtit. I also feel like I'm watching TV every time I'm next to one at a light. Until the car ACTUALLY drives itself, a screen that big should not exist in front of a driver.

    I bought some weed stocks. As a valuation person by trade, it was dumb - the cash flows don't come close to supporting the values. I also bought at the wrong time. However, I really didn't want to miss it and it wasn't much, so its a hold for now. Took a shot at a few of the companies I think may "win" and hope the rest fail.

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    Last edited by JettaJayGLS; 11-01-19 at 02:24 PM.
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  15. #1440
    Lifer ZX-12R's Avatar
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    Re: educate me 401-k

    My 401K is on track to be maxed out around the last paycheck of the year. My company matches 5% only if I contribute 5% so if I max out early, the free money stops flowing. Because I can earn overtime, about half way through the year (and the last quarter) I run the numbers and change my withholdings to maximize the money extraction from my company. Both the wife and I max out a post-tax IRA which we backdoor into a Roth at the end of the year. New for this year is we changed our health plan to a HSA through my wife and her employer contributes $4k to it and we are chipping in the other $3k to max it out.

    I should be better about looking at my stocks and investments so all I know is they are doing well enough that my financial advisor hasn't told me to change them.

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    Last edited by ZX-12R; 11-01-19 at 05:34 PM.
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  16. #1441
    Angry Gumball RandyO's Avatar
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    Re: educate me 401-k

    I'm liking living on a "fixed" income. don't know why people complain about it. I get money deposited in my account that I don't have to chase, making more money now that I have retired than ever before, and haven't even looked at my "retirement" accounts

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    RandyO
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  17. #1442
    Lifer Chippertheripper's Avatar
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    Re: educate me 401-k

    I’m staying the course.
    That is all.

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  18. #1443
    Lifer Not Sure's Avatar
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    Re: educate me 401-k

    I would work another year of my life to own nice watches. Shame on all of you!

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  19. #1444
    Your Father csmutty's Avatar
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    Re: educate me 401-k

    I'm investing in bicycles.

    It's a terrible investment financially.

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  20. #1445
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by csmutty View Post
    I'm investing in bicycles.

    It's a terrible investment financially.

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  21. #1446
    Lifer tsorfas's Avatar
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    Re: educate me 401-k

    I cannot express how much this thread has helped me. Thank you to all who shared ideas, links, articles, etc.
    took one month off for my sons birth and this is shaping up to be an incredible year in 401k, investments, income and personal life. Knock on mofo wood.

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  22. #1447
    Lifer gumby's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by Not Sure View Post
    I would work another year of my life to own nice watches. Shame on all of you!
    So that's why you came out of retirement!

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  23. #1448
    Backwoods lobster boy number9's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by csmutty View Post
    I'm investing in bicycles.

    It's a terrible investment financially.
    You could save money by not buying razors... and your legs would appreciate it

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  24. #1449
    Fast is contagious JettaJayGLS's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by number9 View Post
    You could save money by not buying razors... and your legs would appreciate it
    I was going to suggest adding razors to his post! Buy in bulk subscription on Amazon, my only word of advice. This is my go-to:

    https://www.amazon.com/Gillette-Venu...%2C220&sr=8-26

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    A man of many names...Jay, Gennaro, Gerry, etc.
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  25. #1450
    Your Father csmutty's Avatar
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    Re: educate me 401-k

    Quote Originally Posted by number9 View Post
    You could save money by not buying razors... and your legs would appreciate it
    You have obviously never experienced crawling into bed with fresh sheets and freshly shaven legs...

    - - - Updated - - -

    Quote Originally Posted by JettaJayGLS View Post
    I was going to suggest adding razors to his post! Buy in bulk subscription on Amazon, my only word of advice. This is my go-to:

    https://www.amazon.com/Gillette-Venu...%2C220&sr=8-26
    Funny you say that...

    I just bought this yesterday...

    https://gillette.com/en-us/products/...E&gclsrc=aw.ds

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