Hello all,
Basically I am getting 2 years severance pay (with insurance) starting in July as I'm taking a voluntary separation that my employer is offering. I'm already getting offers for employment, which I think I'm thrilled as I'll be able to double dip. An earlier thread that I posted was a bit confusing which is here (http://www.early-retirement.org/forums/f26/do-i-need-to-go-back-to-work-97462.html).
Many thought I could retire and many thought that I shouldn't. So ......
The questions that I have are if I go contract (1099) what should my rate be? I make 60/hour (130k) with benefits as an employee.
Next, what should I do with the money earned? My 401k is a little light at 450k and I'm 59. I'm contributing 15% to it (that continues until I'm 61) and also have an HSA that I'm maxing out at 7k this year.
I want to be smart tax wise and retirement fund growth. I rebalanced the 401k to bemore moderate than aggressive.
Thanks for any responses!
Basically I am getting 2 years severance pay (with insurance) starting in July as I'm taking a voluntary separation that my employer is offering. I'm already getting offers for employment, which I think I'm thrilled as I'll be able to double dip. An earlier thread that I posted was a bit confusing which is here (http://www.early-retirement.org/forums/f26/do-i-need-to-go-back-to-work-97462.html).
Many thought I could retire and many thought that I shouldn't. So ......
The questions that I have are if I go contract (1099) what should my rate be? I make 60/hour (130k) with benefits as an employee.
Next, what should I do with the money earned? My 401k is a little light at 450k and I'm 59. I'm contributing 15% to it (that continues until I'm 61) and also have an HSA that I'm maxing out at 7k this year.
I want to be smart tax wise and retirement fund growth. I rebalanced the 401k to bemore moderate than aggressive.
Thanks for any responses!