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Old 01-30-2011, 02:51 PM   #21
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Old 01-30-2011, 05:19 PM   #22
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Kinda already had the midlife crisis a few years ago, but it wasn't really the fun kind...got divorced and got an MBA.



2Cor521

That wasn't a mid life crisis just a crisis . A midlife crisis is more fun and you deserve fun . You are at the prime of your life and have done a great job with your kids and your financial life so it is time for SCor521 to spread his wings .
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Old 01-30-2011, 05:20 PM   #23
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Wow....good for you! Invest/spend on hobbies that will benefit your health and provide some fun. It will help prime you for ER.
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Old 01-30-2011, 06:20 PM   #24
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Hey, I remember you mentioned the desire to live a simple life in a teardrop trailer once you retire. How about getting one now to enjoy it on weekends or vacation? A guy needs something to keep busy on, and a travel trailer is just as good a thing as any.
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Old 01-30-2011, 06:31 PM   #25
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Ya......Time to work on you! Join a gym and get a few sessions with a personal trainer....get fit...It makes everything better! And a relationship would be nice and fun, too.....Not a twenty year old.....someone within 7 years younger to 5 years older.....more to connect with and talk about....make sure your energy levels are the same and you have some common interests to share and do.......
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Old 01-31-2011, 10:08 AM   #26
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Invest in something fun for you. Learn to ride a motorcycle or fly an airplane or skydive or scuba dive. Take a photography class.

Sounds like you've paid your dues. Do something for no other reason than you want to. It doesn't have to make sense to anyone else.
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Old 01-31-2011, 10:43 AM   #27
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Two things that help with ER are no mortgage and a nice stash in a taxable account. So I'd put some money towards extra principal and the rest in low cost index funds. Start thinking about an appropriate AA for ER. It will probably be heavier on the cash and short term bonds than with your accumulation phase. Finally do a detailed budget, I've been tracking every item that I spend for the past 6 months so that I know exactly where my money is going and I can relate my expenditures to the income I anticipate I can generate in ER.
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Old 01-31-2011, 10:59 AM   #28
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After a divorce, I would go with the "half your age plus 7" methodology........
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Old 01-31-2011, 11:16 AM   #29
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Keep saving. Then start developing a retirement plan. What are you gonna do? Figure that out and then start developing those interests. It's at least as important as saving enough money. Beyond that, have fun. Sounds like you are in a good position so start enjoying the fruits of your labor. Indulge a little. Good Luck!
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Old 01-31-2011, 11:46 AM   #30
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Fund the kids Roth IRA if they have any earned income. Open at a discount broker and you manage it.

Big ticket toys. 'He who dies with the most toys: wins'
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Old 01-31-2011, 02:53 PM   #31
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Lord willin' and the creek don't rise, I'll be running out of financial goals soon:

Got a good payin' job? Check.
Adequate life insurance? Check.
6 month emergency fund? Check.
Own a home? Check.
No debt other than the mortgage? Check.
Refi the mortgage lately? Check.
Max out 401k match? Check.
Kids' college funds taken care of? Check.
Max out the Roth? Check.
Heading towards FIRE at a fast enough clip? Check.

Now what?

I could increase the emergency fund more, but 6 months seems like enough when the longest it has taken me to find a job in the last decade has been 4 months.

I could pay down the house more, but with a 4.625% fixed interest rate 15 year mortgage, planning to itemize for the indefinite future, decent equity and no real plans to move, doesn't seem especially urgent either.

I could buy stuff, but after been hyper-frugal for the past 4 years (and merely a cheap b*stard before that) I don't really want to.

Maybe I'll add to the taxable account.

Suggestions?

2Cor521
I think it is always good to pay down the mortgage so that you can stop paying for housing earlier.
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Old 01-31-2011, 04:12 PM   #32
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Buy Freebird a Jaguar. Manual transmission please. You pick the color.
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Old 01-31-2011, 04:20 PM   #33
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I'd either pay down the mortgage, or else accumulate substantial taxable investments at Vanguard.

And guess what, you get to pick which one! If you are a pay-off-the-mortgage kind of guy, do that. But if not, I'd suggest investing it. For the taxable account I'd buy equity index funds like VTSMX (total stock market index).
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Old 01-31-2011, 04:51 PM   #34
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Buy Freebird a Jaguar. Manual transmission please. You pick the color.
My kinda gal.
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Old 01-31-2011, 05:01 PM   #35
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I could increase the emergency fund more, but 6 months seems like enough when the longest it has taken me to find a job in the last decade has been 4 months.
It's never taken me longer than 4 months to find a job either, but I've never lost a job during such a terrible economic crisis. So I'd say beef up the emergency fund to 12 months.

Other than that, sounds like you're doing great so I second what everyone else said about chasing the girls in a Jaguar or whatever ...
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Old 01-31-2011, 05:45 PM   #36
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Heck, one can buy Freebird a Jaguar, but what does one get in return? And what does Mr. Boston have to say about that?

I say the OP should get a teardrop trailer like he originally planned. And don't worry about it not being attractive to the opposite sex. In my trip, I saw a good-looking couple in their late 30s, or at most 40s, camping out with a teardrop trailer. Walking the campground past their site, I smiled at their cute set up, and they smiled back at me, obviously proud and happy with their setup. One would be happier with a mate of the same mindset.
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Old 01-31-2011, 05:49 PM   #37
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Decide how you're going to cover LTC? If self-funded, get it started?

Not really a financial goal, but have you created your bucket list (getting in shape and chasing the girls in a Jaguar can be on this list)
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Old 01-31-2011, 05:53 PM   #38
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Heck, one can buy Freebird a Jaguar, but what does one get in return? And what does Mr. Boston have to say about that?
My eternal gratitude.
Mr B is driving my good old 92 Accord, so he has his winter rat midlife vroom vroom car with the 5 speed all set.

Back on track now...increasing investment levels sounds like a good plan for the OP until he figures out what else to do.
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Old 01-31-2011, 06:07 PM   #39
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At MegaMotors, we were allowed to contribute up to $4x,000 to our 401(k). The last portion being after tax. I believe there are ways to wrangle that after tax portion into a Roth once you retire.

Isolating 401k Basis for a Conversion
Interesting thread along those lines over at the Bogleheads forum
Bogleheads :: View topic - After Tax 401K Rollover to Roth IRA, Continued
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Old 01-31-2011, 06:37 PM   #40
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How about: Contribute to a good charity. Forbes had a recent article on efficient ones.

In Pictures: The 10 Most Efficient Charities - More bang for your charity buck. - Forbes.com
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