copperdogs
Confused about dryer sheets
- Joined
- Feb 24, 2010
- Messages
- 8
Cheers to everyone here!
Lurker since 2010, admirer of the experience and opportunities available here for the taking since I found this site.
You can read the sordid details in my bio, but the summary is that DH and I attempted FIRE in 2007 (baad timing), failed for several identified reasons, returned to FT employment, now going for it again in 2014.
I'm an RN, 54, no pension, currently making $50k/yr gross at flexi PT work. Last day 12/31/13. Burned out and don't wanna do anymore. DH is Truck driver and business owner, 59, same scenario. We have zero debt, including paid off home currently valued at approx 450k. Educational loans, car loans, nada. Have always lived simply and within our means. Obamacare health insurance new scene for 2014--awaiting final premium estimate but expecting around $650/mo Med+Rx. (previously bought group insurance thru my employment).
Our port consists of an amalgam of stuff left over from two previous attempts to let money managers run the show--they never seemed to "get" the FIRE concept, and performance never met projections. Over time have lost about 100k in the market, so have some tax credits could use to offset dividends/cap gains. Currently too much cash, from recently matured CD's and a recent freak out episode by DH during guvmnt budget whoops leading to a broad sweep out of select holdings.
Ran FIRECALC through the paces, scenarios succeeded most of the time up to about 70K/yr spending, consistent with our retirement budget, but I worry that assumptions are for 75/25, and not sure that we have the tolerance for being so all in.
Total port $1.67 mil, as follows:
Unqualified cash:
CD @1.09 maturing 2/2014 $55,484.
Capitol 1 savings @ .75% $151,672.
Local Bank savings zero interest $ 8,000.
TD AMeritrade MM cash holding accts $ 718,291
Qualified cash:
Simple IRA and IRA cash MM holding accts $ 288,823.
Unqualified Stock (VTI,KO) $ 137,625
Qualified stock in IRA/SIMPLE IRAs (SCHV, PAA) $ 40,805.
Unqualified Mutual Funds (SWSSX) $ 32,785
qualified TD Mutual funds fund $ 84,513
Unqualified Variable Annuity $160,725
It's been suggested that we should live off a portion of the unqualified cash and put the rest to something that will generate growth and income down the line, and also ideas offered that it makes more sense to live off the divi's and cap gains as long as kept at a 15% tax rate, as this can be wirtten off against preexisting losses sitting on the tax books,
I welcome any/all help through your ideas, suggestions, and constructive criticism. We have always been able to work hard and save money over time, but have never quite gotten the part where it should work for us quite right. Help!
Lurker since 2010, admirer of the experience and opportunities available here for the taking since I found this site.
You can read the sordid details in my bio, but the summary is that DH and I attempted FIRE in 2007 (baad timing), failed for several identified reasons, returned to FT employment, now going for it again in 2014.
I'm an RN, 54, no pension, currently making $50k/yr gross at flexi PT work. Last day 12/31/13. Burned out and don't wanna do anymore. DH is Truck driver and business owner, 59, same scenario. We have zero debt, including paid off home currently valued at approx 450k. Educational loans, car loans, nada. Have always lived simply and within our means. Obamacare health insurance new scene for 2014--awaiting final premium estimate but expecting around $650/mo Med+Rx. (previously bought group insurance thru my employment).
Our port consists of an amalgam of stuff left over from two previous attempts to let money managers run the show--they never seemed to "get" the FIRE concept, and performance never met projections. Over time have lost about 100k in the market, so have some tax credits could use to offset dividends/cap gains. Currently too much cash, from recently matured CD's and a recent freak out episode by DH during guvmnt budget whoops leading to a broad sweep out of select holdings.
Ran FIRECALC through the paces, scenarios succeeded most of the time up to about 70K/yr spending, consistent with our retirement budget, but I worry that assumptions are for 75/25, and not sure that we have the tolerance for being so all in.
Total port $1.67 mil, as follows:
Unqualified cash:
CD @1.09 maturing 2/2014 $55,484.
Capitol 1 savings @ .75% $151,672.
Local Bank savings zero interest $ 8,000.
TD AMeritrade MM cash holding accts $ 718,291
Qualified cash:
Simple IRA and IRA cash MM holding accts $ 288,823.
Unqualified Stock (VTI,KO) $ 137,625
Qualified stock in IRA/SIMPLE IRAs (SCHV, PAA) $ 40,805.
Unqualified Mutual Funds (SWSSX) $ 32,785
qualified TD Mutual funds fund $ 84,513
Unqualified Variable Annuity $160,725
It's been suggested that we should live off a portion of the unqualified cash and put the rest to something that will generate growth and income down the line, and also ideas offered that it makes more sense to live off the divi's and cap gains as long as kept at a 15% tax rate, as this can be wirtten off against preexisting losses sitting on the tax books,
I welcome any/all help through your ideas, suggestions, and constructive criticism. We have always been able to work hard and save money over time, but have never quite gotten the part where it should work for us quite right. Help!