Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Old 11-09-2010, 07:56 PM   #21
Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 3,805
Nice to be able to max out this year.

I stuff all of my part-time income into an individual 401k. Another $800 and I'll have to start paying taxes on my income, but it won't be maxed out. I have to manage DW's contributions to maintain the company match, so she'll have a partial contribution for the last check of the year that will max out the 401k and pick up the company match.

Animorph is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 11-09-2010, 10:44 PM   #22
Recycles dryer sheets
hakuna matata's Avatar
Join Date: Jul 2008
Location: Small town outside of Seattle
Posts: 443
Originally Posted by NW-Bound View Post
I remember your occupation from your introductory post. Honestly! Showing off my memory again.

I just searched the Web to learn that architects were among people who got hurt bad in this Great Recession. So, it seems like the economy has stabilized somewhat. Cheers!
Unfortunately the occupation is still way down industry wide. Our firm has survived but mainly on international work, not too much domestic work unfortunately. I would say in our firm we are down 40% of our staff overall, but the last 3 or 4 months we have started hiring again which is good news.

We got hit first and I think we will recover first---so overall it is good news I agree! Unfortunately for me, my project goes in for review this coming Monday and I don't have much else going on. I don't think I will be laid off, but my sense is that Nov/Dec I will be having a lot of free time on my hands!

I thought something like this might happen during the year and it is one reason I upped the 401k contributions. If I worked full time the next two months I would have huge paychecks! But the end result is that my take home pay likely will be like my regular checks through the year but I can live with that! Plus it gives me more time to hang out here!

hakuna matata is offline   Reply With Quote
Old 11-10-2010, 08:09 AM   #23
Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 3,636
Originally Posted by obgyn65 View Post
Congratulations Hakuna. To answer your question I am in your situation also - I have no one else to talk to about money issues or early retirement. My peers would not understand me. There is no way I can discuss money with patients. I live on my own. Been thinking of joining other websites also (i.e. Bogleheads) but in my opinion this ER site is the best one.
I like Bogleheads, too. I prefer to post here because this is a more focused group. The flip side is that Bogleheads has a wider range of topics.

Now for a pet peeve: I get depressed when I see the lousy "advice" that shows up on the commercial sites on the internet. I'd like to grab the people who read them and say "If you really want to think about these issues, sign up at Bogleheads or the Early Retirement Forum where you can discuss them with real people who aren't trying to sell you something."
Independent is offline   Reply With Quote
Old 11-10-2010, 08:14 AM   #24
Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 3,636
Originally Posted by hakuna matata View Post

Does anyone else here have no one else to talk to about money issues? For me, that alone makes this board a welcome relief, as I find it a bit frustrating that I have no one (other then my wife) that I can talk money issues with.
My problem, too. In my case, my wife isn't interested in any of the techy stuff we talk about here, so that makes this board even more important.

One thing I miss about work is a few co-workers who were financially focused. We could at least talk in generalities (eg I-Bonds vs. TIPS), though I wouldn't have been comfortable with any personal numbers.
Independent is offline   Reply With Quote
Old 11-10-2010, 10:46 AM   #25
Recycles dryer sheets
Join Date: Jan 2008
Posts: 297
Originally Posted by hakuna matata View Post
Woo hoo. So both my 401k and ROTH are done for the year.
With my paycheck today I hit my max 401k contributions for the year. This includes my regular contribution and the additional money I can put away since I am now 50. Other then my wife, it seems this board is the only place I can brag and celebrate about it!

I learned long ago to not discuss money issues, especially saving, with friends and family. But then it leaves me sort of silently bragging to myself. But I know in this economy most of my friends stopped are reduced their 401k contributions and would be resentful if I told them I hit it early.

But I am an Architect. Last year I didn't work about half the year so I didn't come close to my 401k max. So this year when I started work again I upped my 401k contributions as high as I could (and still live comfortably) so that if I ended up getting reduced hours part way through the year I would get as much in my 401k as I could. Luckily I have been pretty steady all year and now I get my last three paychecks for the year will be full paychecks--just in time for Christmas! Woo-hoo!

Does anyone else here have no one else to talk to about money issues? For me, that alone makes this board a welcome relief, as I find it a bit frustrating that I have no one (other then my wife) that I can talk money issues with.
I know it's a little late compared to everyone else, but AWESOME!
Primary title "chief moron"
myself is offline   Reply With Quote
Old 11-10-2010, 12:47 PM   #26
Thinks s/he gets paid by the post
target2019's Avatar
Join Date: Dec 2008
Posts: 3,036
Congratulations on maxing out. I'm doing 5K of catchup, and coming close to the minimum on the rest. In 4.5 years I have accumulated about 2/3rd's of what I have in my SEP (15 years). I'm also maxing a Roth for wife and self.

As for keeping it secret, I understand that part. There are a few younger people I'd like to show the balance to, as I know they do the minimum, and it just won't be enough when they get to retirement. However, good sense prevails, and I don't reveal my secrets. For instance, no one knows I still maintain a consulting business. That income allows me make the max 401K contributions at work. I am not so dependent on regular job income, since I work 5-10 hours extra AT MY RATE.

Enough bragging.

target2019 is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Max out 401k just prior to ER? nanannjen FIRE and Money 60 11-03-2009 11:01 AM
401k max contribution question laurinsane FIRE and Money 9 04-13-2008 09:00 PM
IRA contribution after 401k max-out? Marquette Young Dreamers 4 01-31-2008 06:21 PM
VGSIX (Vanguard REIT Index) really took a hit today Telly FIRE and Money 8 03-06-2007 08:31 PM
Max out 401K ? Trace FIRE and Money 10 03-18-2006 01:56 PM


All times are GMT -6. The time now is 07:30 PM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2016, vBulletin Solutions, Inc.