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Just something to consider. This happens in California all the time, but can easily happen anywhere. Lifelong renting can sound appealing. You are very mobile, and can always look for a better deal. However, later in life you are putting yourself at a lot of risk. There are literally hundreds...

This is correct… and is now very common in wills. Not as a snub per se, but to make sure no one can contest it. This is often done for ex’es, that have crazy families that think they are still owed money somehow..

There is a YouTube channel I love watching called “My Self Reliance”. A man bought property, and is in the process of building his own log cabin, and growing enough food to sustain his family. Love it. I am truly envious. Has way less money than me, but is “wealthier” is his life and what he...

Sadly…. I can never share my financial success with my family. They are truly awful people. I wish my father was still alive, I think he would have cheered for me. I do have good friends, and we are all in much the same situation, being financial “unicorns”. We are grateful to be able to...

Actually… there is a very cool thing you can do if your company allows it. You will have to call to find out. You CAN do a reverse roll over from an IRA to your current companies 401k plan… and then use the rule of 55. My company allows this and it is part of my strategy when I plan to retire at 55.

I can easily do my taxes if I choose to. However, I always elect to pay someone to do my taxes for me. I view it as insurance. If I am ever audited the person who filed it has to explain.

When I was a little boy, I dreamed of being a magician. I was amazed with how the wave of a hand could cause something wondrous to occur. And now with the flip of a switch, an unseen force does my bidding. And I wonder if perhaps that childhood dream has been realized. Deny the ordinary, achieve...

Provided you are over 59.5 probably no diff other than more control over what to invest in. However, if you are 55+ you can get the 401k money after you retire with no penalty. In IRA you need to wait till 59.5

I became a EE myself. I can tell you from my experience, it is normal to suffer. There is no way to get around that. It is an extremely challenging major to study. Around 50% do not make it, and I am not ashamed to say it almost broke me. Took every bit of tenacity I had. I can still remember...

This is how I would figure this out. Do the calculation if you took the lump sum today, and figure 7% average growth till you turn 65. Then see how many years would it take after 65 to equal that number? Are they close, is one way better than the other?

I would tend to agree here. If you are that close to retiring, does it really make a difference?

I truly admire what you have been able to achieve. However, you have well more than 50% of your investments in a single stock. Tesla is working out for now. But you are just one bad day away from being ruined. Eventually you are going to get a bad roll of the dice… I hope you pull out by then..

For whatever it might be worth, I had a Trust made recently, and the lawyer mentioned a few things that did not apply on my case, it might be valuable to some of you reading. Remember that in your work 401k, bank accounts, etc, where you type in your “beneficiary” that name actually...

I my opinions it is all about risk. May it never happen to you, but if you lost your job, would you want more investments, or a paid off place to live? I finally became debt free last month. It is a nice feeling to know, that if a lost this job, or needed to quit… I can…

Also remember that if your plan allows it, you can reverse rollover a traditional IRA, back into your current 401k plan. If you do that before you retire (@55) you can then use the rule of 55 to get at your money earlier with no penalty. Normally, you would need to wait till 59.5 to get at your...

The problem with utopian cities, is that it takes completely 100% altruistic people to live and work there. And you will never find such people.

I will be 55 at that time. If I choose to retire, I will roll my Roth 401k into a Roth IRA and have access immediately to all of my contributions (yes Roth IRA has been around for over a decade). Just before I retire, I will reverse roll over my T Ira into my companies 401k account. (My company...

Lots of really great advice here. Thanks so much. Still a while out.. like 7 years. Lots to consider as I get closer though.

Hello everyone, So I am around 7 years out I am thinking. At present, I have 1.4mil in retirement accounts. Goal is to hit 3mil by then. Should be 50/50 Roth and Traditional 401k. A bit ambitious, but we will see. So at the moment, I am almost 100% stocks. I fully understand that the...

Thanks for bringing up the topic of “stepped up basis”. This could be really significant considering the mom is 108, and how long she has owned the property? Just so people are aware. If you transfer a property to someone else while you are alive, then when that person one day sells the house...

This is exactly correct. I guess I have never understood the thinking of some, that it is imperative to stop people from becoming “too wealthy” (and that bar continues to drop). I celebrate others people’s success. Other people’s success does not impede my own. I guess I am just not a...

I believe that is correct. They do not care where the money comes from to fund a ROTH. Could be you, your son, or me for that matter. But you have to prove (via w2) that your son had income, of which you can match up to thst amount per year (up to the ROTH limits).

I must admit, been feeling the same at the moment. I just become 100% debt free. Have a net worth of almost 2mil, retirement assets of 1.4mil. Just got back from a vacation, and thought today… so why am I still doing this? Nothing wrong with the job, nice people, easy for the moment. Making...

Sounds like a great idea… time is such a blessing in this case. Decades to grow!!! Just remember that I do not believe you can contribute more to a ROTH Ira, than is made in a single year. So for example if total income for the year was $1000, you cannot contribute $5000 to the ROTH Ira that year..

Just a few things… I understand others may feel differently, but I would worry about long term renting. It puts way too much control and uncertainty into the hands of others. There is no guarantee rents will not go through the roof in 30 years time. Once you own your home free and clear, it is...