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What this forum really needs ...
10-10-2007, 08:58 AM
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#1
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Recycles dryer sheets
Join Date: Oct 2007
Location: Sugar Land
Posts: 265
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What this forum really needs ...
Is another engineer from Texas who was a Navy Veteran (ASW; mostly S2-E with some P3; "Mr. Nords, Please activate the noise makers."), so here I am! 
Only began to target RE in the past year or so as for the first 28 years of my career I just liked it. Management changes have created what is now a "toxic" environment that I'm anxious to remove myself from. I've been on a crash course of: this forum, Boglehead forum, Boglehead book, 4 Pillars, ESRBob book, Zelinsky book, and have at least two others to go on my reading table.
Will have been with MegaTech for 30 years in January 2008 (will give me 90% paid medical insurance; and is the last milestone I'm targeting). Current thoughts are to retire in 2008 as soon as I've put my $20.5K into my 401K. (Also quiet on my plans for possible bonus (10K last year) and will collect company profit sharing.)
Stats:
Myself and DW both 56. DW is a teacher (who still loves her work but may retire next year) and is currently eligible for 80% of her salary as pension.
FireCalc says we're FI (again; my divorce 10 years ago and my Enronesque approach to the Tech bubble with Company stock in 2000/2001 made for a couple of "do-overs"; think 401K became a 101K). Biggest risk remains too much exposure to company stock (stock options).
Stats:
- No debt (includng mortgage); Should I have paid it off?? 
- We're poor budgeters, but clearly LBYMers; I've put together a $70K post-retirement budget that has lots of pad.
- DWs pension = ~52K
- 401K plus my pension (assuming lump sum right now) = $900K
- Stock options (10 year options that will continue to vest/run after I retire) = ~$400K
- MegaTech stock from ESPP = $140K
- Vanguard mix of mutual funds, MM, and Junk Bonds = $112K (This is post tax money and is where my stock option money goes when I have to sell. Currenty let options run all the way to 10 year point and then sell; I'm in the second year of having to sell each year.
Well, this is too long; sorry. Glad to formally come aboard as I've enjoyed the info, humor, and spirit of this board. (I read the rules and will have to watch for a tendancy to "over-use" sarcasm.) Oh, and I'm not a financial advisor, don't want to buy your life insurance, and believe variable annuities are bad. 
T.R.
__________________
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10-10-2007, 09:35 AM
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#2
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Gone but not forgotten
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,447
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Let me be the first to say welcome .
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10-10-2007, 09:40 AM
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#3
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Thinks s/he gets paid by the post
Join Date: Dec 2005
Location: Lake Livingston, Tx
Posts: 4,204
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Welcome aboard.
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10-10-2007, 11:18 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Feb 2007
Posts: 1,250
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 Welcome, fellow squid!
__________________
Make no mistake, my friend, it takes more than money to make men rich. - A. P. Gouthey
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10-10-2007, 12:59 PM
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#5
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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 Quote:
Originally Posted by TeeRuh
...another engineer from Texas who was a Navy Veteran..
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All that stacked against you and you're FI and planning to RE next year? Wow, I am impressed! 
Welcome to the mosh pit forum.
__________________
Numbers is hard
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10-10-2007, 01:22 PM
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#6
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Thinks s/he gets paid by the post
Join Date: Jun 2007
Location: near Canadian border and near Mexican border
Posts: 1,142
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Quote:
Originally Posted by TeeRuh
Is another engineer from Texas who was a Navy Veteran
T.R.
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Welcome from another engineer who is retired from Hooligan's Navy.
__________________
Pigs get fat, hogs get slaughtered. That's my story and I am sticking to it.
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10-10-2007, 01:30 PM
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#7
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Recycles dryer sheets
Join Date: Jul 2007
Posts: 229
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Wahoo, another Texan! Welcome to the forum!
TG
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10-10-2007, 01:41 PM
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#8
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Full time employment: Posting here.
Join Date: Nov 2006
Posts: 548
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Howdy!
Sound like a very welcome addition! However, just thought I would let you know that with the recent rationing in effect, I have already used up all the extra sarcasm credits though, so until you get some stripes 'round here, you can't have any. he he he
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10-10-2007, 02:29 PM
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#9
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Recycles dryer sheets
Join Date: Oct 2007
Location: Sugar Land
Posts: 265
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Thanks y'all!
Quote:
Originally Posted by REWahoo
All that stacked against you and you're FI and planning to RE next year? Wow, I am impressed!
Welcome to the mosh pit forum. |
Quote:
Originally Posted by DRiP Guy
Howdy!
so until you get some stripes 'round here, you can't have any. he he he
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Thanks for the welcome. (I'm actually attempting to figure out this "quote" thingy; seems to be a lot of bells and whistles on this board, but then I've really not done much but "lurk" before.) Also trying to "up" my post count. Is that getting stripes?
T.R.
__________________
Life is a Holiday!
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10-10-2007, 02:41 PM
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#10
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Moderator Emeritus
Join Date: Jul 2005
Posts: 2,811
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TR,
Welcome to the forums. Glad you found us and appear to be well on your way to being FIRE(d). There are several other ex-military types and engineer types on the board. You are in good company in all respects. Enjoy your stay on the board and good luck in your FIRE plans.
__________________
Work? I don't have time to work....I'm retired.
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10-10-2007, 02:52 PM
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#11
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Recycles dryer sheets
Join Date: Feb 2006
Posts: 212
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Welcome from yet another engineer from Texas. We need some ER-logo'd cowboy hats or something.
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10-10-2007, 09:12 PM
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#12
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Administrator
Join Date: Apr 2006
Posts: 23,041
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Welcome aboard TeeRuh.
During my Navy days, I was constantly searching for the SUAM (Submarine to Air Missile). Who knows? Maybe now they have one.
__________________
Living an analog life in the Digital Age.
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10-10-2007, 09:22 PM
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#13
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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Welcome to the board, TeeRuh!
I wish I had a nickel for every time my XO told me "Now, Nords, we're here to give these guys good training. Play stupid nice and be fair." But our noise augmenter was always on and I have the logs to prove it. That's my story and I'm stickin' to it.
Quote:
Originally Posted by Gumby
During my Navy days, I was constantly searching for the SUAM (Submarine to Air Missile). Who knows? Maybe now they have one.
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Gumby, did you ever hear about the aborted attempt in the 1990s to equip submarines with bridge-launched STINGER missiles? The program was canceled after a few trial runs with the torpedomen... and we had to go back to launching green flares at the bridges of the other ships.
Back on topic, TeeRuh, are you saying that you're a two-digit midget again? Congratulations!
Have you looked at the NUA treatment of your stock options?
__________________
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Co-author (with my daughter) of “Raising Your Money-Savvy Family For Next Generation Financial Independence.”
Author of the book written on E-R.org: "The Military Guide to Financial Independence and Retirement."
I don't spend much time here— please send a PM.
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10-11-2007, 06:58 AM
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#14
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Recycles dryer sheets
Join Date: Oct 2007
Location: Sugar Land
Posts: 265
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Does NUA apply?
Nords, I really hate to admit how outmanned we were against the nukes, but then the Stoof wasn't exactly state of the art in 1975 ...
Gumby, Having worked some "black programs" during the early days of my career I can only say one doesn't always know what one knows and/or one doesn't always know what one thinks one knows ... (and just how fast can those damn boats go anyway??)
Quote:
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Have you looked at the NUA treatment of your stock options?
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Most (99+%)of my options are Non-Qualified Options. Excercising them results in the profit being taxed as regular income. Does any sort of NUA approach apply since it's not really stock in a tax defferred account? (Asking out of ignorance here.)
T.R.
__________________
Life is a Holiday!
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10-12-2007, 08:34 PM
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#15
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Thinks s/he gets paid by the post
Join Date: Jan 2004
Posts: 2,049
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Quote:
Originally Posted by TeeRuh
Most (99+%)of my options are Non-Qualified Options. Excercising them results in the profit being taxed as regular income.
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IRS 83b election?
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10-15-2007, 09:34 AM
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#16
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Recycles dryer sheets
Join Date: Oct 2007
Location: Sugar Land
Posts: 265
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Quote:
Originally Posted by eridanus
IRS 83b election?
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Well I hadn't heard of this so I "googled away". I could use this for a very tiny amount of recently granted "restricted stock", but it is the one small piece that also will not continue to vest when I pull the cord.
What I found:
Quote:
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Many option holders, seeing the beneficial effect the election can have, wonder if they can make the election when they receive nonqualified options. Unfortunately, the answer is no.
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Appreciate the different approaches being thrown out. Lots of info and learning opportunities; that's why I've enjoyed this forum.
T.R.
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