Things you have learned on the forum

[lucky penny]

2 quick things come to mind:

I learned that increasing the withholding on RMDs can be a good alternative to paying estimated income taxes.

Also learned many years ago about PenFed, which was offering 5-year CDs at 3% at a time when that was very appealing.

 

[rodi]

I've learned SOOOO much. I did not have a solid financial plan on how to retire early when I first came here. I learned about withdrawal rates, asset allocations, that reducing spending would allow me to hit my 'number' sooner in two ways (increased savings, reduced retirement budget).

When I got closer I got great advice on my plan.

One of the biggies I learned was from another poster here - Katsmeow - that minor age kids would get a small SS payment if their older parent were collecting SS. (DH is 10 years older than me and this tipped us to have him retire/collect SS at 62).

And the ACA discussions prior to its passing, and after it passed... that was HUGE since health insurance was one of our biggest concerns... understanding how the tax credits worked, the cliff, etc was huge.

 

[pacergal]

I lurked a bit before joining, but joined about a year before retirement and shortly after last parent passed. I felt overwhelmed with financial decisions and trying to understand it all.

I learned how to use Firecalc and create scenarios
I learned to answer to questions in the FAQ before retiring--they really got me thinking of all the different variables.
I learned NOT to make financial decisions while still grieving and it was ok to just sit with what I had for a while.
I learned about so many great books to read, one of my favorites is Ernie Zelinski How to Retire Happy, Wild, and Free, along with Bogleheads Guide to Retirement.
I learned that there are some incredibly knowledgeable folks here who are willing to share and answer questions informatively and frequently with Great Humor!
I learned that the Moderators work diligently to keep this Forum moving forward in a positive and very helpful manner.
I learned to manage my anxiety around many things just by reading and hearing about other people gong trough the same things.

Most of all, I am so thankful that I found this forum and all of you fine folks!

 

[Toast]

I’ve learned so much about a wide range of topics (e.g., money, life, health, technology, travel, etc). Most importantly, I’ve learned that this is a forum where people are willing to answer most any question and want to help. I’ve also learned that they check up on one another and notice when long time members haven’t posted in a while. Additionally, members are genuinely happy for other folk’s good fortune and care when people go through hard times.

Best place on the internet!!!!!

 

[Major Tom]

I haven't learned a great deal, though that is not because there isn't a lot of information on this forum; there is. It's simply because this single guy who is a renter, and only owns a bicycle, a campervan, and a cat, didn't need to know much to secure a happy retirement with a consistent income. It's the 80/20 rule - 20% of the knowledge gave me 80% of the results. The main things I have learned -

1) That I can achieve a consistent income in retirement with a simple portfolio that requires very little maintenance (thank you FIRECalc and index funds),

2) That it's important to consider the tax consequences of my financial moves,

3) That when W2R goes Whee......well, you know

There are, of course, many other things but, for me, these have been the most important ones. Well, the first two were anyway

 

[COcheesehead]

The forum opened my mind to the whole concept of blow the dough. My mind was so set in the accumulation stage, it just got stuck in the keep adding to the pile mode. I needed to step back and see the pile for what it was - fuel for my life.

 

[PatrickA5]

I looked up my first thread back in 2006 asking about pros/cons of moving a 401K into an IRA. It's amazing what I didn't know back then. I've learned a ton in the last 16 years. Thanks to all that have helped me along the way.

 

[Walt34]

If someone thinks the Earth is flat, that doesn't make it so. Would you say the Earth is flat, because some one 'feels' that is true? No.

-ERD50

But, but... I have a picture!

 

[Involuntary Retiree]

Fun topic. I have learned about ..... CHEESE, something near and dear to my heart!

 

[EarlyandLate]

Something that I knew intellectually, but have not lived out is that one of the keys to happiness is being content with what you have and where you are.



Shout out to W2R, the forum's Fairy Godmother of contentedness!

 

[CincyDave]

• 4% rule
• SORR
• Managing taxable income
• Roth conversions
• Don't have managed mutual funds outside retirement accounts to avoid tax surprises (that ship, unfortunately, already sailed for me).
• Medi-gap vs Medicare advantage considerations
• It's OK to BLOW THAT DOUGH!
• Still haven't found the answer as to when to take SS

 

[Janet H]

I learned a new word: doofi (see post 5)

 

[NW-Bound]

But, but... I have a picture!

Your picture is wrong!

Where's the turtle?

 

[street]

One huge thing I learned about was ACA. Oh, that was a huge savings for me. The first year of ER I couldn't use it, but I learned all about it by the time open enrollment was at end of first year of ER.

 

[MuirWannabe]

Ignoring the noise and staying the course in downturns. Easy to say, hard to do. But the majority of folks here do it. And I’ve found the courage to not panic in downturns because of the experiences and survivals of other members.

 

[kgtest]

Whee!
BTD
YMMV

Are a few. Learned to avoid the investment "news" and "analysts".

DCA
Mega backdoor Roth (conversions)
Was talked out of leveraging HLOC (thank god) earlier this year...would have lost that bet big time.
A little bit about puts, and covered calls...
i-bonds and t-bills
Pretty much MOST of my investing knowledge stemmed from this forum one way or another. If I were ever banned from posting I would probably just go ahead and unplug my router and crawl into a hole.

And my favorite...

 

[kgtest]

Oh, I forgot a big one...

Recycled Dryer Sheets.

 

[NW-Bound]

I have learned quite a few things over the years. Dang, 14 years to be exact. Time flies, and I am now an old man. It's scary. But I digress...

The most important thing I have learned is to keep cool when another poster called me names. This, I taught myself, actually.

Fine! I may be wrong, and may deserve to be called names. But if I am right as I thought I was, there would be time for the truth to be known.

Just keep cool and stay patient. No need to exchange name calling.

 

[kgtest]

OldShooter and others here (and my own personal research + Boogleheads) gave me the confidence to fire our wealth management company and save 1.25%

This forum gave me the power to never hire one to begin with. I will never forget I walked into Edward Jones, armed with all my data and goals that I acquired after hounding this forum...and the FA said I didn't need him, we had a fun chat, he told me the x factor will be healthcare, told me to invest early and often... and sent me on my way.

 

[kgtest]

Oh my goodness, so many things, and I'm truly grateful. I learned:

• that individual bonds are not such a scary thing to invest in
• about I-Bonds
• why water hammer can be so damaging to a dishwasher intake valve
• about different withdrawal strategies, and the pros and cons of each
• about brokered CDs
• about some of the finer things in life, like Jamon Iberico and Louis XIII cognac

The list can go on and on. Really too many to list them all.

Interesting. We have water hammer that likes to creep up and go crazy when we run our dishwasher at night usually as the water heater is refilling. Please do tell me more.

 

[Scuba]

I’ve learned many things. When I was ready to retire early but hadn’t given my notice yet, I was feeling guilty because many other senior executives in my company gave 1-2 year notice periods, even though our employment contracts specified 30 days. I really wanted to give the minimum 30 days’ notice. People on this forum convinced me that was ok and I should prioritize my life/needs. That was very helpful!

I’ve also learned a lot about investing, Roth conversions, IRMAA, various financial modeling tools, Bogleheads, etc. Also healthcare, Medicare, travel, good credit card deals, so many useful day to day things.

Most of all I appreciate the helpful attitudes of others on this forum.

 

[gauss]

I learned that, at least in my case, the majority of the amount rolled over from a Roth 401k to a Roth IRA are considered contributions NOT conversions for the purpose of the 5 year holding requirement that applies to Roth IRA conversions.

Since my employer allowed In-Plan Roth 401k conversions from my traditional 401k, this allowed an easy way for me to access significant funds before age 59 1/2 penalty free without waiting.

-gauss

 

[intent]

In my normal and professional life I was always pretty good at following the Pareto principle - about 80% of the outcome relies on only about 20% of actions (paraphrasing).

For some odd reason though, before I found this forum I was falling into a trap of paralysis by analysis when it came to retirement planning. How much to contribute to 401k? How to allocate the contributions within/between my and DWs plans? What percentage should be in each type of investment category? Growth vs. value? Index funds vs Target Date funds? High cap, mid cap, or low cap?

And the list went on and on ... all the while with us mostly sitting on the sideline because I could never quite figure out the ideal solution.

But when I found this forum it became clear pretty quickly that there was no one perfect solution. Follow a few relatively simple principles - LBYM, focus primarily on low-cost index funds, pay yourself first, and tune out the noise - and you'll have a good shot at building a nice retirement stash.

 

[Car-Guy]

The most important thing I have learned is to keep cool when another poster called me names. This, I taught myself, actually.

Just keep cool and stay patient. No need to exchange name calling.

Shall we test that so we see how strong your resolve is?

 

[NW-Bound]

Shall we test that so we see how strong your resolve is?

Go ahead.

What's that adage about arguing with fools? I will walk away, and others will see that the name caller was describing himself.

But don't overdo it though, or you may get banned. This forum is not bought out by a billionaire yet.