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2 points: 1- being able to buy a jet or yacht is just the beginning…maintaining these toys is extremely expensive. 2- private jets cost about 2k-10k per hour depending on the plane size. We are above that 99Th% and have never done this. We only occasionally fly business and only on long...

While Coronavirus is a real threat I do not think it will wipe out a significant portion of the Earth's population, unlike the Spanish flu that infected 500 million and killed 50-100 million in 1918. I do take issue with China "taking it seriously"...

DawgMan, I am supposed to be ER now but was asked to stay on a bit longer while they find my replacement. Our numbers support 300+k/yr incl. tax. Yet I am budgeting far less at around 180-200k. I just don't feel comfortable spending that much but perhaps as I gain more confidence that will...

I turned in my notice - 2 more weeks to go! After about 4 years of OMY syndrome I am finally cured. I went PT about 4 years ago to downshift and now even that feels too much. I highly recommend the gradual approach. Cold turkey would not have worked for me. I thank the good folks here at...

I think I can relate. Finances are solid, 80+x annual burn rate. Do expect that burn rate to rise as kids age, though. But when I am honest with myself, we are easily FI. I don't think this is our issue. I completely agree with others that the higher incomes have a harder time walking away...

Not sure if anyone has any insights, suggestions, etc but over 8 months ago my CPA amended our 2015 and 2016 returns. The reason was recent clarification from the IRS about taxes on a portion of our income led to a lower tax burden. The CPA included an explanation for the change with the...

Very interesting thread. Lower, lower middle class for me. Money was a common topic - we don't have any. Rarely ate out - and then only fast-food. Ate left overs for days and days...ugh... Started working before I could drive. At age 16-17 recall working at midnight on a particular...

The general advice at bogleheads.org is to avoid it.

They've never stated an hourly rate.

My CPA has been charging us about 900/year for a pass-through income LLC return (simple return) and another 2500/year for personal return. Recently they charged us 1200 to revise 2 years at their direction because they recharacterized some income. It saved us a lot in taxes so I was happy...

Well...again not what I expected. So to keep below the 77,000 income threshold took 1/2 of the money from the munis and put it into the 2 taxable bond funds above. That created about 45,000 in tax-exempt and 56,200 in taxable. I plugged those into turbo tax using the exact same info on...

Thanks RunningBum. Yep, I should have known this. It's in my notes: ordinary income (interest) < 77,200...qualified div/LTCG at 0%. So to your point, I could potentially maximize my after-tax income by earning UP TO 77k in taxable bond interest, leaving the remainder in munis. >95% of our...

Because of my income I have been 100% munis on the bond side of my portfolio. However, next year I will have no ordinary income for the first time. I have been trying to calculate the best after-tax scenario. In other words, should I sell my munis and buy taxable bonds? So I plugged in the...

I'm a car guy also. Definitely do the porsche driving experience in Atlanta. I did it and it was incredible. Ironically it made me want another 911 less. I drove the sh*t out of a cayman s and had a blast. But, no way you can drive like that normally. A few years back I had a 911 turbo...

Exactly Audrey. And it also appears the application is a bit easier per Cathy's link. Less documentation. I know we considered Spain but the application for a non-lucrative visa is a PITA apparently. With an EU spouse, application with marriage certificate is all that is needed for a...

Thanks Alan, Dd and cathy. That is what I was thinking but needed to confirm it somewhere.

Thanks Meadbh. I did google it also before posting. It still does not seem to provide a direct answer and that is why I posted. I know we can get into the countries, the question is how long can we stay.

DW was born in Europe and will soon have her EU passport. The Schengen limitation of staying 3 of 6 months will no longer apply to her clearly. My question is how will that impact me and our kids, who do not and will not have EU passports? Thank you

I strongly suggest you read Bogleheads Guide to Investments. Also, check out bogleheads.org and read the section on Receiving a Windfall in the wiki section. I cannot fathom paying an FA at this point. I have had several and always led to disappointment. What sounds so complicated can be...

1-For other high income folks here, are all your bonds in taxable in munis? Fortunately >90% of my investable assets are in taxable, but the downside is not much space in tax sheltered for bonds. 2-Does having all munis concern you given the swirling debt issues many states are having? Or...

Welcome. If you are serious about FIRE, learn the Bogleheads way. If you are not familiar: bogleheads.org https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/1118921283/ref=sr_1_1?ie=UTF8&qid=1516968607&sr=8-1&keywords=bogleheads+guide+to+investing

DawgMan - like you I hit my number much earlier than expected. I was planning on RE by 50. By 43 I hit my number easily. I was not mentally ready to fully ER, still may not be. My response to your questions: 1- I'm exceptionally type A. I followed some advice from an older colleague - I...

Haha...no worries. Again we agree. But, fortunately I am a high bracket so for now it makes sense. Yes, my big question will be whether to stay in tax exempt funds next year once my ordinary income drops to 0. I think the saying is "don't the the tax tail wag the dog".

Thanks for your concern, although your post did sound a bit condescending. I agree with you about optimizing after tax returns. I am not fully retired yet so those are numbers without ordinary income. I just plugged them in the other day to see where I would be as I am strongly considering...

DawgMan - you can make a dummy account at h&R block, taxact, etc and put in your numbers to determine what your tax liability will be. Obviously there are MANY factors that affect YOUR tax rate (pre/post tax, interest, stcg vs ltcg, dividends - qualified or unqualified).