Useful Links

shanjwa5 · 03-04-2007, 12:27 PM

Thank you for the welcome note. I believe doing something you enjoy and get paid for is a great way to head in the retirement direction. Years of management taught me to be a more effective front line employee.

donheff · 03-04-2007, 01:40 PM

Quote:

Originally Posted by shanjwa5

Thank you for the welcome note. I believe doing something you enjoy and get paid for is a great way to head in the retirement direction. Years of management taught me to be a more effective front line employee.

ESRBob, one of the posters here, has written a book on the subject, "How to Work Less and Live More." You will find many kindred spirits and even more of us who have happily pulled the plug entirely. 8)

smileydog · 03-05-2007, 01:19 PM

John,

Welcome, I'm in the same "boat". I am biding my time trying to hold off a few years before taking the "plunge". I am trying to make a plan on balancing my funds so that I can hit that sweet spot between risk and security (if there is such a spot). I self-direct my tradtional IRA via Fidelity and have been pretty satisfied so far. Hope to hear your thoughts.

dog

shanjwa5 · 03-07-2007, 05:47 PM

I feel I have the net worth to retire. however the healthcare for a family is what keeps me working

Family of 5 ------22 year old special needs daughter on my plan
18 year old son finishing 1 year of college.....yes i am paying the full boat
12 year old.

Have a net worth of $1.8MM including home equity.

Any crack the healtcare nut and wish to advise?

haha · 03-07-2007, 06:28 PM

Quote:

Originally Posted by shanjwa5

Have a net worth of $1.8MM including home equity.

Any crack the healtcare nut and wish to advise?

Probably best to keep working.

Ha

yakers · 03-07-2007, 06:37 PM

Based on the info given I have to agree with HA, time to keep working. The general rule of thumb is that you can withdraw 4% (inflation adjusted) from a portfolio so from $1.8M that would be $73.2 a year, not bad but with kids in school ( my youngest son is 17 and a HS senior) and a special needs child the medical would be a killer. The solutions are 1) work, 2)spouse works (at least in a capacity that includes medical coverage) then there is COBRA, which I don't know much about and various state programs. The states vary a lot in their offerings. And it depends on your desired standard of living.

REWahoo · 03-07-2007, 06:45 PM

If you aren't aware of what your state health insurance options are, you'll find some good information at the Georgetown University Health Policy Institute website at www.healthinsuranceinfo.net/

In-control · 03-09-2007, 01:06 PM

Hi:

I am new to this site - I am financially ready to retire @44 but am waiting for a package from my company. Just started to budget the family's funds - something their not used to - that is not fun.

Cheers and I hope to give information and learn from the group.

:

Nords · 03-09-2007, 03:04 PM

Welcome to the board, IC... Janet Jackson, right?

kaljaz · 03-10-2007, 12:43 AM

I am knew to all of this financial stuff...wondering what to do to pay off my mortgage faster. Heard of Tardus and Mortgage Free America. Wondering if I could do their tactics on my own such as use credit cards and then pay off card at the end of the month on time. pay off mortgage with a HELOC and put my own paychecks toward the HELOC until I need to pay off credit card bills? Does this make sense to anyone?

Nords · 03-10-2007, 09:47 AM

Quote:

Originally Posted by kaljaz

I am knew to all of this financial stuff...wondering what to do to pay off my mortgage faster. Heard of Tardus and Mortgage Free America. Wondering if I could do their tactics on my own such as use credit cards and then pay off card at the end of the month on time. pay off mortgage with a HELOC and put my own paychecks toward the HELOC until I need to pay off credit card bills? Does this make sense to anyone?

Welcome to the board, kaljaz.

I think it makes sense to pay down the debt with the highest interest rate first. If your highest interest rate is the mortgage then you'll save more money by paying it off first. But most people have a higher interest rate on their HELOCs and their credit cards, so it makes sense to pay those off before worrying about a mortgage.

I think it also makes sense to stay far away from "helper" companies like Tardus and Mortgage Free America. The math is the same either way, but it's a lot cheaper to do it on your own...

donheff · 03-10-2007, 12:17 PM

Quote:

Originally Posted by kaljaz

I am knew to all of this financial stuff...wondering what to do to pay off my mortgage faster. Heard of Tardus and Mortgage Free America. Wondering if I could do their tactics on my own such as use credit cards and then pay off card at the end of the month on time. pay off mortgage with a HELOC and put my own paychecks toward the HELOC until I need to pay off credit card bills? Does this make sense to anyone?

Why not leave the mortgage alone and take the deduction. Put the extra money you would use to pay it off quicker in a balanced account and earn money on it. When you are ready to cut back expenses in ER and the deduction isn't a lot of use use that fund to pay off the loan. That is what I did. But, if you want to enter ER without a mortgage make sure you don't coulnt your pay-off fund as part of your portfolio for SWR calculations.

kaljaz · 03-14-2007, 12:01 AM

Thanks for the info. Another question, I guess I was told by my Mortgage company that in order to pay bi-monthly for my mortgage and not once monthly (in order to pay off mortgage faster), I would have to pay like $250 annually for this "special" request. If I just pay bimonthly on my own by sending in checks twice a month, will this help in the long run and cut my years down a little bit?

crazy connie · 03-14-2007, 12:20 AM

Get an amortization schedule off the web and play around with it. Just increase every payment by what you can and that makes a huge difference. Also, everytime you have enough money, send in a payment.

Nords · 03-14-2007, 04:59 PM

Quote:

Originally Posted by kaljaz

Thanks for the info. Another question, I guess I was told by my Mortgage company that in order to pay bi-monthly for my mortgage and not once monthly (in order to pay off mortgage faster), I would have to pay like $250 annually for this "special" request. If I just pay bimonthly on my own by sending in checks twice a month, will this help in the long run and cut my years down a little bit?

Kaljaz, I'll answer your question here, but this thread is intended to be used by first-time posters for their introductions. If you have more questions on this subject then please start another thread in the board's "FIRE and Money" section.

If you pay a mortgage biweekly (twice a month) then a 30-year mortgage will be paid off in about 24 years. Many mortgage calculators now include a biweekly feature to check this option. If you're sending in an additional payment in between the regular payments, however, you may have to specify to your mortgage company that the payment be used to reduce the loan's principal and not credited against the accumulated interest.

Hillbilly · 03-20-2007, 08:37 PM

Hello to all!

Spent many hours reading the posts on this great site before now joining. This is going to be fun! Thanks for having me...

Hillbilly

Nords · 03-20-2007, 10:08 PM

Welcome to the board, Hillbilly.

Sales guy · 03-28-2007, 03:41 PM

Yello my name is Patrick I am a 37 year old Sales manager been working for corporate usa for eleven years. Started working when i was 12 delivering newspapers did that till my senior year. I saved 10k and put that into mutual funds and returned 27% through 1983-1999. After working a few part time jobs which i saved approximately 20% of my check i went to college., dropped out in 1991 to raise my son and worked construction for three years and saved 10% of my money, had a girl three years later. Worked from 1996 to 2006 for large corporation where I enjoyed 27% returns on mutual funds putting in 15% of my pay, as well as stock options. At age 38 decided i want to retire. with my 401k savings, resuidual income and cash i think i can. i lived on half of my 90k income bought an affordable 2300 sq ft house , drove a used car 5 years old and took 2 week vacations but never splurged on expensive accomadations. My father always said its not how much money you earn but how much you spend and how much you save. Looking forward to travelling, life coaching ,and spending more time with my kids.