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Old 07-09-2020, 01:01 PM   #61
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This was the only place I found with the correct info during the first year of Obamacare. Not even the government knew what was up. Remember that? ER.org saved me unimaginable angst and hassle, since I was able to avoid falling into the many traps of the initial rollout. Also, this is where I found out I could use a Roth conversion to lower my MAGI and get the best possible Obamacare deal.
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Old 07-09-2020, 02:50 PM   #62
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Quote:
Originally Posted by calmloki View Post
People here that I respect - imoldernyou as a prime example of mental acuity with age and will be missed. Recommendations on this board are given weight; for instance someone mentioned CW Seed as a free streaming channel and we watched several episodes of an old BBC program - The Bleak Old Shop of Stuff and enjoyed it quite a lot. https://en.wikipedia.org/wiki/The_Bl..._Shop_of_Stuff

Learned about "place holder" Cds and opened several for $50 with Navy FCU - a lovely way to keep an OK interest rate until it becomes a good rate.

All manner of good info here.

Does anyone have information concerning Imodernyou. I believe someone mentioned he passed away. I am a retired physician and was curious about the situation. I remember enjoying his posts. He was a good person.




I really appreciate the fine folks
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Old 07-09-2020, 02:53 PM   #63
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Does anyone have information concerning Imodernyou. I believe someone mentioned he passed away. I am a retired physician and was curious about the situation. I remember enjoying his posts. He was a good person.
His son posted here about his passing.
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Old 07-09-2020, 02:55 PM   #64
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Learned to simply set goals, develop an ER plan and execute with confidence.

And to not get sucked into the OMY syndrome.
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Old 07-09-2020, 03:03 PM   #65
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His son posted here about his passing.
Thank you
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Old 07-09-2020, 03:32 PM   #66
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There was the poster who saved DW and I, our dogs, and home from blowing up one night.

Thank you!
Did you tell us the story? If not, I'd love to hear it!
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Old 07-09-2020, 03:35 PM   #67
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Did you tell us the story? If not, I'd love to hear it!
See post #45.
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Old 07-09-2020, 03:39 PM   #68
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So much great knowledge and advice here. I was well on my way to ER (still am) when I joined in December 2017, and I learned about OMY syndrome....Rule of 55, and some other things....but the overall supportive and helpful nature of people on this site is amazing. Some of the budgets here inspired me to OMY for a few more OMYs to enable a better lifestyle in RE. Now, planning and hoping to pull the trigger next year, stopping at the first eligible Rule of 55 year!
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Old 07-09-2020, 04:27 PM   #69
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Give me a forum ...
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There have been lots of ideas and strategies that I've learned of here and on another FIRE forum that I also frequent.

The meta-idea/strategy for me is to continue to read and monitor and learn. I have had several occasions where I'll come across a nearly throwaway comment by a poster in an obscure thread, and that comment happens to apply to me, is something I've never thought of before, and ends up saving me or earning me a five-figure sum of money. I think the latest one was someone mentioning that an HSA contribution can serve as ballast for a tax-free Roth conversion.

Other valuable items to me:

1. I've figured out a lot of FAFSA / 529 / ESA college tricks that I've bounced off people here.

2. Already mentioned, but Roth conversions between FIRE and 72.

3. SECURE Act general information and strategies.

4. ACA strategies in general. A lot of people went on it before I did and their questions and clarifications here made it easier for me to do things smoothly when I signed up.

5. Roth conversion ladder, and how to choose between it and 72(t) and other choices.

6. SS claiming strategy.

7. Lots of miscellaneous tax questions over the years.

There are probably others I am not remembering offhand right now.
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Old 07-10-2020, 12:43 AM   #70
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So, so much.

Most impactful from a RE perspective was probably that SS if you have dependents is significantly more than just collecting as a retired person. Also the importance of inflation, expenses I might not have thought about or planned for, confidence that the vanguard FA tax estimates were wrong, wrong, wrong. I know there’s much more, but these are top of mind as we’re in the ‘can we do it’ phase.
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Old 07-10-2020, 02:36 AM   #71
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This is the forum I visit most because the people here have the same financial values as us. I can get advice and learn about various topics from others who have "walked the walk" not just "talked the talk."

Got here by searching for retirement calculators. Learned about Firecalc here and still find it to be the easiest quick way to learn if we have enough. Have reccomended it to a number of others.

In addition to the other things that have been said, I can think of:

1 Probably the most common behavior of early retirees is LBYM. People have differing amounts of income but most of us have paid ourselves first over our lives. We don't have to be highly talented investors to get here - we just need certain habits.
2 A good simple MP3 player for my now 90 year old Dad. Recorded a bunch of podcasts for him and he likes them.
3 Funny jokes.
4 As others have said, Roth rollover and SS modeling scenarios.
5 pb4uski is not actually Polish, which I believed for several years. Have to go elsewhere for Polish recipes.
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Old 07-10-2020, 04:47 AM   #72
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The enjoyment of the community in both directions. It is gratifying to find info and also to be thanked for a post.
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Old 07-10-2020, 05:25 AM   #73
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Expenses - know your expenses
+1. My entire ER planning was based on current income as main stream media and experts preach. And then I discovered this site

And FireCalc.
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Old 07-10-2020, 07:16 AM   #74
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Numbers is hard.
Had a co-worker last year who got all bent out of shape. I told him roughly what my raise was after determining through back-channels that everyone in the entire department received the same % increase for annual raises.

When I told him my % he went on a tangent about how he is underpaid, and being treated unfairly etc etc... how his raise wasn't as high of a %...

I said, sir, please I ask you to double check your math, I understand we all received the same % increase (I had confirmed this with half a dozen people already).

He came in the next day with his tail between his legs... 'ooh man, I feel dumb, I did the math wrong' he says.

The kicker...it's literally in our job title to assure quality. I asked for a transfer, and they honored it.

New team is MUCH better.

The cool thing about that group was I had my pick of the work... now that I am working with guys much smarter than me not so much lol....but at least we all know how to do division.

I think the most valuable thing I learned is to be consistent...put money in every week, every 2 weeks etc. But be consistent with that.

Pay yourself first...which requires some budgeting to know how much you can 'afford' to pay yourself.

Make a spreadsheet or log to track your progress, you never know where you are headed without first knowing where you came from.

Ignore the headlines in terms of introducing emotions into investing. If I operated my portfolio, like I did my social life...there would be disagreements on a daily basis. Keep the noise out of your head and furthermore the 'folio.

Re-assess on a frequent basis. One thing I never knew would come of managing my own money was the extreme peace of mind. There is something to be said about sleeping well at night, knowing you have a solid investment plan in place.

I see threads on this forum like I SOLD ALL MY STOCKS, and THE WORLD IS ENDING TOMORROW etc etc...I ignore those beyond a good laugh, I do indulge and read, but I would never act upon someone telling me THEY sold all their stocks. Everyone is running a different race, at different points in time.

Oh, and benchmark, know how you are doing against your peers, the market, the indices and your past performance.

Never pay retail.
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FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
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Old 07-10-2020, 07:32 AM   #75
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Numbers is hard.
lol same
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Old 07-10-2020, 07:34 AM   #76
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A career, your human capital, is a bond proxy. Therefore, 100% equities during accumulation phase is a balanced portfolio.


The best revenge is leading the good life.


Capital Gains can be tax free in Early Retirement.


FIREcalc and C FIRE SIM calculators lend neccesary courage to retire without OMY (one more year syndrome).
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