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Old 05-26-2013, 05:12 PM   #41
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Doesn't appear anyone here will help fill money bags' money bags...
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Old 05-26-2013, 06:11 PM   #42
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As soon as I saw 10% plus the alarm bells went off. And I did a double take with the idea that you can use an IRA for a loan. ML should be pi$$ed as the couple of postings made did nothing for their reputation.
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Old 05-26-2013, 06:15 PM   #43
Recycles dryer sheets
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Quote:
Originally Posted by daylatedollarshort View Post
His profile also said he has been a financial adviser for 20 years and his retirement date is 2043.

If he started work at 21, he'd be 41 now and retiring in 30 years from now when he is 71, and yet is trying to give investment advice to people on an early retirement forum.
Being in the Financial Service industry, I can tell you that most Financial Advisors are nothing more than sales dude with a nice suit and a fancy "VP" title.

It's amazing the crap I see they sell people, from annuities in an IRA to front load funds with 4% sales charge. And these are the people considered successful in our industry(commision)! Stick someone in a low cost ETF or Mutual funds and you're out of a job.
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Old 05-26-2013, 07:50 PM   #44
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I imagine the chances of this are fairly low given that you're in MA, but if you're already doing some property management, can you purchase a rental property which throws off vacancy-adjusted income at a higher rate than you can get for an annuity or an i-bond? It's a little riskier, but it also gives you another place to potentially move, freeing up both upstairs and downstairs to rent for $3k total if you needed to. You have enough time between now and ER that you could possibly find a great bargain, as you're not in a rush from a real estate purchasing perspective. Nominally, rents should match inflation and the depreciation will provide you tax advantages.
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Old 05-26-2013, 08:38 PM   #45
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Quote:
Originally Posted by rackingguy
I imagine the chances of this are fairly low given that you're in MA, but if you're already doing some property management, can you purchase a rental property which throws off vacancy-adjusted income at a higher rate than you can get for an annuity or an i-bond? It's a little riskier, but it also gives you another place to potentially move, freeing up both upstairs and downstairs to rent for $3k total if you needed to. You have enough time between now and ER that you could possibly find a great bargain, as you're not in a rush from a real estate purchasing perspective. Nominally, rents should match inflation and the depreciation will provide you tax advantages.
That's an interesting idea, but I have a lot invested in RE already. I'd rather just move downstairs and get $1800/month in rent for the upstairs.
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“So we beat on, boats against the current, borne back ceaselessly into the past.”

Current AA: 65% Equity Funds / 20% Bonds / 7% Stable Value /3% Cash / 5% TIAA Traditional
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Income from pension and rent
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Old 06-08-2013, 11:21 AM   #46
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Originally Posted by daylatedollarshort View Post
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Originally Posted by sengsational View Post
I have only a few years worth of contributions in the current employers 401k, but I've kept my former employers 401k intact (super low fees). That one is off the table for age 55 withdrawls, isn't it?
Maybe not. We rolled over a previous employer 401K to the last employer's 401k. Now we have access to the amounts from both 401Ks we can draw down on prior to 59.5 without any early withdrawal penalties.
Status update: The monster check [direct rollover, not a 60 day] arrived Thursday night and was back in overnight mail in 10 minutes to the new (current employer) 401k custodian. Arrived Friday morning at 8:29. But they say they're going to sit on it for up to 7 business days!! I'm going to call and nag them several times a day because even at today's low interest rates, that's real money!

Anyway, thanks for the idea to get more into the "55 rule" bucket!!
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