Recent content by Biker_on_FIRE

I’d recommend that you go into a camera store and see what the size difference is between the different formats. From smallest to largest, you have point and shoot, four thirds (and micro four thirds), APS, and full frame. And some unsolicited advice- taking some photos classes will improve...

I've decided to pull the trigger and give my two weeks notice next week. See this post for the details. So what are the things I should do or consider before I leave? Here are some things I am thinking about: -Increase Roth 401k contributions -Extend my official end date with my vacation...

Haha, I mentioned that to my wife recently, but she will be just happy to have a dog. Besides, I think the more likely scenario is that she will spoil the dog (giving it table scraps, allowing the dog on furniture, etc.) when she has time with it and the dog will not respond to me when she is...

Thanks, I've considered consulting as an option of part-time work. I'm thinking I may evaluate that option if I find myself bored or miss the social interactions of work.

Thank you! My wife wants to hang on until age 55 because she will lose retiree medical and a significant portion of her pension annuity and lump sum if she leaves before 55. And yes, my thinking is that I'm not interested in working more just for my beneficiaries. They will inherit plenty...

Thanks! Yes, your calculations are right, although we have some pretty major home remodeling projects (>$200k) coming up that will eat into our available liquid assets which might leave us a little short if both of us retired now. But I’m really leaning on the ‘no workload option’ ?.

Thanks for your advice! While I could set a boundary of 40 hours, I just could not in good conscience work only 40 hours while my colleagues are putting in 60-80 hours to get the job done. And I’m not really interested in re-starting at another company.

Yes, the $150k in annual expenses include home maintenance and property taxes. Yes, I will work to prioritize the social aspects of retirement. And I agree with you about working more just to leave more to my beneficiaries and am certainly leaning towards starting the next chapter of my life.

Hi everyone, I need some thoughts/comments/encouragement/discouragement on whether I should retire from my current job. Here is our situation: My wife and I are turning 52 years old this year and were originally planning on retiring in 2025 when we will have penalty free withdrawals from our...

If it is not available to you, I wouldn't sweat it. And even if an HSA plan was available to you but doesn't make sense due to the high deductible, then you shouldn't choose it just for the tax advantage. We do contribute the maximum to the HSA ($7300 in 2022) and use it as a long term...

Thanks! I think we will go with a cash-out refi rather than a HELOC for the fixed interest rate as well as the lower rate.

Thanks! Yes, we definitely after-tax poor which is one of the reasons we will do the cash-out refi. Yes, we will utilize the rule of 55 to withdraw penalty free from our 401ks when we turn 55. We have talked to several contractors already and all of them have told me not to expect starting...

Thanks, I think we will go with a 15 year at 2.5% with loan amount of around $500k as we are planning on pushing forward some of our other remodel plans (landscaping and patio area). Yes, one of the thoughts is that cash out will help smooth out some of our withdrawals from our 401ks later and...

Thanks for the advice and kind words! Yes, we have come to the conclusion that we have saved well more than we will need and should spend on the things that will add enjoyment to our lives while still leaving enough for our heirs and organizations that we support.

Hi everyone, I need some advice/suggestions on whether or not to do a cash-out refi to finance a home remodel. Here are some of the particulars of our situation: Wife and I are 51 years old and plan to retire in 2025 when have penalty-free withdrawals from our company 401ks $4.5M in retirement...