On 1/12/18 12:14 PM, amdx wrote:
On 1/12/2018 9:00 AM, Keyser Soze wrote:
On 1/12/18 9:46 AM, amdx wrote:
On 1/8/2018 6:29 PM, Alex wrote:
wrote:
On Sat, 6 Jan 2018 22:35:27 -0500, Alex wrote:
amdx wrote:
and hey, how about the stock market?
I should do well under the new tax law, looks like I'll qualify for
the pass thru, knocking off 20% of my business income from being
taxable.
and a Standard deduction of $24k, what's not to like.
Â* I'll will lose two child deductions, but I would have lost one
anyone, she's getting married.
Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â* Mikek
My 401K hit seven figures shortly after President Trump was
elected and
has grown even more.Â* I'll have to see how it affects my paycheck.
The
new rates won't be active until next month.Â* If this continues I
might
be able to retire at 55!
===
I've been moving into more conservative, and more diversified assets
in anticipation of a market pull back.Â* I'd suggest keeping your job a
bit longer if you enjoy what you're doing.Â* Inflation becomes a real
risk once you stop working.
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I'm realistically looking to retire by 60.Â* I've got a few IRA's and
some non-retirement investments, too.Â* I don't want to have to watch
the market all the time to feel comfortable.
Investing new money is challenging right now with the market so
high. I'm looking more and more at real estate.
Many people do well with real estate, but if you buy rentals you are
buying a job. 20 some years ago I had 5 rentals, I did well with them,
but when I moved out of state I sold them all, and at 62 I have zero
interest being on call to do repairs or maintenance.
Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Â*Â*Â*Â* Mikek
When the market "corrects" and tumbles, what are you going to do...go
back to selling shrimp?
Â*Well, I do expect it to correct, but the market always corrects.
Â*And then it surpasses it's old high. It's possible at some point I
will get the itch that "enough IS enough) and decide to get out. Then
the question is where;s the bottom, when do you get back in? You can't
time the market. At least not often enough over the long term.
Â*I expect my nest egg to support at least my young wife for 30 more
years. That means I could have 30 more years of growth. 30 years of
growth at a conservative 6% will multiply a $1 in to $6 over 30 years.
Â*There will be fluctuations, as long as we have enough income during a
downturn we are good. We are good.
Â* I'm about 70% in equities and may reduce that as I get older, but I
doubt I will ever get to 50%.
Â*I have a very tiny amount in bonds, because as rates rise, bonds
decrease and we are in a rising rate environment. I regret that
investment now, but I was restricted on what I could buy in my HSA account.
Â* I have breakfast with several other retirees twice a week. A common
subject is how we live frugally and how we don't need to. However we
don't know what we need that we would spend money on.
Â* My wife is very frugal, she recently went shopping for shirts for me.
Â*She picked out 10 or 11 shirts and had them held, she told me to go
look at the shirts, pick out what you like (she picked out the best
quality they had) and buy them. I went and bought 6 of the shirts I
liked. They were $2 a piece at Salvation Army. For $12 I got $120 to
$200 worth of shirts and they are great.
Â*That's only one method we used to get to the Top 1% *.
Â*Ok, I wanted you to stew for a second.
Not really in the top 1% but we're comfortable.
Â* At this point, I'm invested for my kids.
Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â*Â* Mikek
Â** I know how much you hate the 1%. Those evil rich people.
You were a hard-working guy. I have no reason to resent your financial
success.
My wife, who is 18 years younger than I am, should have a lovely
retirement.
She'll get a solid retirement from her employer, where she's been for 20
years. Very shortly, her age and years of service will add up to 75,
which is the magic number for full retirement if you want to take it. It
is reduced some for each year before the age of 60, if you take
retirement. Plus, at some point later, she'll get Social Security. Plus
her savings and other items. And, of course, she can charge $150 to $200
an hour for therapy she provides as a private practitioner. She's
thinking of "retiring" to Hilton Head, where there is a large pool of
potential patients who aren't worried about paying for therapy via
health insurance.