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Old 09-25-2010, 07:21 PM   #61
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What is and where is FireCalc?
Look for the link at the bottom of the page. It is a retirement financial calculator. When you have enough, you tell your boss "FU"
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Old 09-25-2010, 07:33 PM   #62
Give me a museum and I'll fill it. (Picasso)
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Early this year FireCalc said I had enough "FU money."
FU??

Yeah, well same to you, fella.
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Old 09-25-2010, 08:22 PM   #63
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I suppose that I am a success.....
Ha
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My story is here. Is it success?
If you are ERed, then you are definitely a success.
I really enjoy reading about your paths you have taken to get to and to stay ERed.

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Old 10-01-2010, 01:14 PM   #64
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Not a traditional success story, just lucky, being at the right place at the right time and sticking with it.

Graduated high school, worked on commission in cosmetics. Tired of working holidays, weekends, and evenings so I went to work in an office as a lowly accounting clerk. Hated it, clocked in, clocked out, treated like grade-schooler so then I went on to groom dogs and opened my own business. Over the next few years I never made much money so in my later 20's I went back to a business school for IT/Accounting.

That's where I got lucky, after graduation I started working for a company that became employee owned. They gave you a stock gift each year that amounted to 10-15% of your salary. The stock that started out just over a $1.00 per
share is now over $100 a share. Well I've worked for this company now for over 25 years because they constantly challenged me, and since I was in at the beginning I have accumulated a fair amount of stock. Oh, and not to mention
they also pay out dividends, the largest paid out was three years ago @ $25.00 per share!

I pay cash for cars, live in a modest house on acreage, bought a house for my mother on 10 acres, and have 'early retired' my hubby so that he can take care of both places and plan our vacations!

Looking forward to retiring in 22 months, 29 days, and 11 hours… but hey, who's counting?
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Old 10-01-2010, 01:39 PM   #65
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That's where I got lucky, after graduation I started working for a company that became employee owned. They gave you a stock gift each year that amounted to 10-15% of your salary. The stock that started out just over a $1.00 per share is now over $100 a share. Well I've worked for this company now for over 25 years because they constantly challenged me, and since I was in at the beginning I have accumulated a fair amount of stock. Oh, and not to mention
they also pay out dividends, the largest paid out was three years ago @ $25.00 per share!
Glad to hear another success story from an ESOP plan. AS you can see from my signature line, I, too, did well in my company's ESOP. Mine grew by a factor of 30 from 1997 to 2008 and my allocated shares ranged from 6% to 13% of my annual each year, most of them in the early years while the stock price was low and my pay was high (F/T work back then, unlike later on). I did not receive dividends like you did, but the proceeds of the sale when I left 2 years ago was $300k.

Those shares were also subject to more favorable tax rates because the appreciation in the price was NUA and taxed at LT Cap Gains rates instead of as ordinary income. You should enjoy the same thing as long as the tax treatment of this type of sale remains unchanged (but might be at a higher rate than it was for me in 2008).
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Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.

"I want my money working for me instead of me working for my money!"
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Old 10-01-2010, 02:11 PM   #66
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Those shares were also subject to more favorable tax rates because the appreciation in the price was NUA and taxed at LT Cap Gains rates instead of as ordinary income. You should enjoy the same thing as long as the tax treatment of this type of sale remains unchanged (but might be at a higher rate than it was for me in 2008).
I've checked with the plan administrator at my company, as well as two financial planners, and have been told that because I work for a 'S' Corp company that my ESOP would be taxed as ordinary income, and I would not be able to use the NUA. Guess I shouldn't complain, but I do
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