Solving problems at work rather than RE

[cooch96]

OP, I’m sorry other members assumed you were a troll. I don’t like to think what members thought of me when I was first posting. And some members calling for forced/indentured service in the armed forces seems extraordinarily inappropriate to me. I say this as a 9-year army veteran. Perhaps this thread wouldve better been placed in the ‘young dreamers’ forum.

At my lows, I had many fantasies about alternates to my career. Window washer and getting maimed in a traffic accident were the most common. Driving for Uber sounds downright realistic and pleasurable compared to a lengthy hospitable stay.

If you have enough of a nest egg, perhaps you could try Uber for a real spell. How hard would it be for you to get back into a similar IT job if you took a sabbatical?

In the meantime, do your best to stay healthy. Don’t forget to breath, don’t let any vices get the better of you.

All my best.

 

[swakyaby]

Cooch, nice post, nonjudgemental and civil

 

[Oz investor]

For example you have posted 3 wildly differently asset classes and portfolios ..are you in and out of the market so quickly that ever quarter you have a different portfolio and assets class? Most here wouldn't really endorse that much churning.

personally i am not a big fan of churning ( but i will take opportunities if offered them )

but these are uncertain but optimistic times and firenow , is aggressively trying for financial independence .

as long as firenow accepts the risks of making a bad move , i cannot condemn that ( but probably won't copy his plays , either )

as a side note one of the LICs i hold, turns over more than 120% of the portfolio on a yearly average ... yes the fees/charges are high but the share price has more than doubled in 6 years ( on an increased NTA ) and the div. yield ( on the current SP ) is 5.9% ( or 12.8% on my buying price )

so such a strategy can work in a medium term ( i just wished i had the skills to do that for myself )

 

[ivinsfan]

personally i am not a big fan of churning ( but i will take opportunities if offered them )

but these are uncertain but optimistic times and firenow , is aggressively trying for financial independence .

as long as firenow accepts the risks of making a bad move , i cannot condemn that ( but probably won't copy his plays , either )

as a side note one of the LICs i hold, turns over more than 120% of the portfolio on a yearly average ... yes the fees/charges are high but the share price has more than doubled in 6 years ( on an increased NTA ) and the div. yield ( on the current SP ) is 5.9% ( or 12.8% on my buying price )

so such a strategy can work in a medium term ( i just wished i had the skills to do that for myself )

I don't know if the OP churns or not just commenting that his posts aren't always consistent.

 

[Oz investor]

I don't know if the OP churns or not just commenting that his posts aren't always consistent.

i work on theory of partial truth ( you would have to be nuts to give explicit financial details on a public forum .. just terrible security )

if that theory is wrong my opinions are worthless in that case

( garbage in equals garbage out )

cheers !!!

 

[ivinsfan]

You'd be surprised what people reveal on the internet..

 

[daylatedollarshort]

Firenow - We were in tech and I get that some of the jobs are pretty high stress. I went into 1099 work I could do from home while the kids were in school. DH kept a job with benefits and worked with me evenings and weekends until we had enough to both retire. I really liked working from home. It was a lot less stressful than DH's day job at megacorp.

Some of the Silicon Valley jobs are high stress, long hours and not really good for your health - "A toxic cocktail of poor nutrition, sleep deprivation, and stress, he surmised, is causing an epidemic of advanced aging in Silicon Valley. He tells of a 34-year-old programmer who came in complaining of neck pain. X-rays revealed severe degenerative arthritis caused by poor posture, insulin resistance, tissue inflammation (a result of the insulin resistance and a diet high in processed carbohydrates and sugars). It was the type of affliction a doctor would typically find in someone around 70."

Source -
Is Silicon Valley Bad for Your Health?
http://fortune.com/2015/10/23/is-silicon-valley-bad-for-your-health/

 

[ExFlyBoy5]

Without getting into the discussion revolving around the OP, let me just say I can't tell you how often I have the same thought about people. I recall an episode of Frasier years ago when he and brother Niles were dithering about something and their father said , "You know, I always though a couple of years in the service would have done you both a world of good."

Related: when I see a really screwed up situation in progress and/or a group talking something to death without actually doing anything, I often think "there's nothing wrong here that a good Gunnery Sargeant couldn't straighten out pretty quickly."

See, the thing about "mandatory military service" is that it would make life MISERABLE for those that DID volunteer. I have a LOT of stories of idiots that joined the military for all the WRONG reasons and how it made life very difficult for those of us trying to do the mission. And before you make the assumption that they could just be "thrown in the brig" to think about what they have (or haven't done) know that it's much easier said than done. So no, I don't think compulsory service is a great idea.

Also, I feel the OP's pain for "hating" a j*b. When I was flying in the AF, I (in my opinion) had one of the BEST JOBS in the freakin' world! But, it was still a j*b and at times, it really, REALLY sucked. So, even the best j*bs out there can be a living hell. I think the OP is living in the world of "Office Space" and is tired of dealing with Lumbergh.

 

[Oz investor]

ivinsfan,

OP might be testing strategies ( via opinions on the forum or with actual cash movements )

i have no way knowing either way

about the only thing clear is OP is unhappy with the current employment and searching for options

cheers !!!

 

[Oz investor]

You'd be surprised what people reveal on the internet..

i have been shocked at what some Megecorps call security ( at the work-place or on the web-site )

so i do maintain a degree of skepticism ( almost permanently )

cheers

 

[friar1610]

See, the thing about "mandatory military service" is that it would make life MISERABLE for those that DID volunteer. I have a LOT of stories of idiots that joined the military for all the WRONG reasons and how it made life very difficult for those of us trying to do the mission. And before you make the assumption that they could just be "thrown in the brig" to think about what they have (or haven't done) know that it's much easier said than done. So no, I don't think compulsory service is a great idea.

.

I've had experience with the service in both the draft era and the all volunteer era. While I never literally dealt with draftees in the Navy, many perceived the Navy to be a better deal than the Army, so they "voluntarily" joined although their hearts were not necessarily in it. So, for all practical purposes, they were draftees.

I think REWahoo's point (he can weigh in if I'm misunderstanding him) was less about the concept of mandatory service than it was about the value to some individuals that military service bestows through the imposition of discipline, dealing with others from all walks of life, teamwork and all the other good stuff that even those who don't necessarily enjoy their service time learn from the experience. I can't tell you how many (mostly) guys I've met who never would have put on a uniform had the draft not been a factor but who look back on their service time as very important to who and where they are today. Sure, it can be a challenge for "lifers" to put up with some of what draftees bring to the party, but remember it was largely draftees who became The Greatest Generation.

I'm really going off on a tangent with respect to the original topic, but I personally favor mandatory national (but not necessarily military) service. I'm glad the services have the professionalism of the AVF but I think society as a whole benefited a lot from having a greater percentage of its young people exposed to that experience. Lotsa reasons, IMO, but I'm too far off topic as it is.

 

[firenow]

Thanks for all your replies. I think having worked in stressful environments for so long has made me develop this hatred towards work.

What I actually hate is those aggressive people and fitting into structure. One of the bothering colleagues left our team a month back and my boss is okay. Still it has continued to be difficult for me going to work on Mondays.

Right now I have about 650k and by the end of this year I'll be at 690k. Each year will add 150k roughly on the average to my networth. So I will have to stick to this job for another 2 1/2 years (from today) for a comfortable FIRE with 1 mill. 4 /12 years with 1.3 mil or 5 1/2 years with 1.5 mil are even safer checkpoints to FIRE.

I don't see any other options rather than just toughing it out for the next few years. My wife is from thailand and one option is to relocate there. If so then end of this year with 700k should be enough for a comfortable retirement.


One question on the taxes. For healthcare it asks for AGI. If I have 1 mill in my account and the stock market ROI was 15%, i.e., 150k but I sold and withdrew only 40k enough for my expenses. Should i state my AGI for the year be 40k or 150k for health insurance?

 

[Lakewood90712]

Thanks for all your replies. I think having worked in stressful environments for so long has made me develop this hatred towards work.

What I actually hate is those aggressive people and fitting into structure. One of the bothering colleagues left our team a month back and my boss is okay. Still it has continued to be difficult for me going to work on Mondays.

Right now I have about 650k and by the end of this year I'll be at 690k. Each year will add 150k roughly on the average to my networth. So I will have to stick to this job for another 2 1/2 years (from today) for a comfortable FIRE with 1 mill. 4 /12 years with 1.3 mil or 5 1/2 years with 1.5 mil are even safer checkpoints to FIRE.

I don't see any other options rather than just toughing it out for the next few years. My wife is from thailand and one option is to relocate there. If so then end of this year with 700k should be enough for a comfortable retirement.


One question on the taxes. For healthcare it asks for AGI. If I have 1 mill in my account and the stock market ROI was 15%, i.e., 150k but I sold and withdrew only 40k enough for my expenses. Should i state my AGI for the year be 40k or 150k for health insurance?

IIRC Thailand collects tax on money brought into the country. Have you figured that in ?.

Don't know your age, but if you are under 40, seriously consider taking a break for a couple of years. You WILL have a different outlook on life and work going forward.
You are caught in the trap of " Just accumulate a pot of money and things will be peachy after that" I think you will be greatly disappointed. If you have difficulty with difficult people at work,sorry , but they are everywhere in life. You need to develop skills to deal with it and maybe even profit from those new people skills. . Took me decades to get it.

 

[joeea]

See, the thing about "mandatory military service" is that it would make life MISERABLE for those that DID volunteer. I have a LOT of stories of idiots that joined the military for all the WRONG reasons and how it made life very difficult for those of us trying to do the mission. And before you make the assumption that they could just be "thrown in the brig" to think about what they have (or haven't done) know that it's much easier said than done. So no, I don't think compulsory service is a great idea.

I totally agree.

There's nothing worse than working with someone who doesn't want to be there (no matter what job "there" represents).

 

[joeea]

One question on the taxes. For healthcare it asks for AGI. If I have 1 mill in my account and the stock market ROI was 15%, i.e., 150k but I sold and withdrew only 40k enough for my expenses. Should i state my AGI for the year be 40k or 150k for health insurance?

Depends on the type of account, but investment returns aren't AGI.

If this account is taxable, then returns are taxed at capital gains rates, not income rates.

If this account is an IRA or 401k, then returns are tax deferred and not income.

 

[EastWest Gal]

Thanks for all your replies. I think having worked in stressful environments for so long has made me develop this hatred towards work.

What I actually hate is those aggressive people and fitting into structure. One of the bothering colleagues left our team a month back and my boss is okay. Still it has continued to be difficult for me going to work on Mondays.

Right now I have about 650k and by the end of this year I'll be at 690k. Each year will add 150k roughly on the average to my networth. So I will have to stick to this job for another 2 1/2 years (from today) for a comfortable FIRE with 1 mill. 4 /12 years with 1.3 mil or 5 1/2 years with 1.5 mil are even safer checkpoints to FIRE.

I don't see any other options rather than just toughing it out for the next few years. My wife is from thailand and one option is to relocate there. If so then end of this year with 700k should be enough for a comfortable retirement.


One question on the taxes. For healthcare it asks for AGI. If I have 1 mill in my account and the stock market ROI was 15%, i.e., 150k but I sold and withdrew only 40k enough for my expenses. Should i state my AGI for the year be 40k or 150k for health insurance?

Neither.

Just because your net worth may increase by $150K, you only will be reporting cap gains distributions and dividend income, as well as cap gains on any equities you actually sell, which is much less than the increase in portfolio value. Much of what you pull out will be cost basis of what you bought, and if it is in an after tax portfolio, it isn’t taxable, only the capital gain. AGI will undoubtedly be less than the threshold for subsidies if you’re pulling from an after tax portfolio.

What you withdraw from an after tax portfolio is not directly income, only the gains on what you sold to do that withdrawal. All of the cap gains distributions and dividends will also count as income for your AGI, whether you withdraw or reinvest.

Look at your 1099s from last year to get an idea of the portfolio income you will report. Add the cap gains on what you sell. Your portfolio website should show the cap gains so far for each equity or fund, so you can make an estimate.

If it is from an IRA or 401K, every penny you withdraw is straight income and taxed at a much higher rate than cap gains and dividends. You would then be reporting only what you withdraw as straight income.

Caution: Do not withdraw early from an IRA or 401K. There are penalties, and pulling money out of those vehicles is a serious mistake too many people make.

 

[ivinsfan]

OP, any time you spend studying tax code and tax rates and ACA incomes will be time well spent. You are going to need to know these things if and when you ER.This is something concrete you can do now and should help give you a sense of progressing to your goal.

If you have questions about a specific tax item, search for old threads which will often give you an answer or more background info.

If you still have a question you will get more replies and info if you post it as a new thread instead of sticking it four pages into an existing one.

 

[daylatedollarshort]

Thanks for all your replies. I think having worked in stressful environments for so long has made me develop this hatred towards work.

What I actually hate is those aggressive people and fitting into structure. One of the bothering colleagues left our team a month back and my boss is okay. Still it has continued to be difficult for me going to work on Mondays.

An option in the short term is to take classes on how to deal with difficult people. I found that very helpful when I worked at megacorp. It was weird, but one really aggressive VP whose main goal in life seemed to enjoy making everyone's life hell actually asked me to go into business with her after we were both out of megacorp. My only goal in taking the classes was to get through meetings with her without breaking down and crying. So when she asked me to join her new company years later I thought wow, those classes really work beyond what I had ever thought possible.

 

[firenow]

Neither.

Just because your net worth may increase by $150K, you only will be reporting cap gains distributions and dividend income, as well as cap gains on any equities you actually sell, which is much less than the increase in portfolio value. Much of what you pull out will be cost basis of what you bought, and if it is in an after tax portfolio, it isn’t taxable, only the capital gain. AGI will undoubtedly be less than the threshold for subsidies if you’re pulling from an after tax portfolio.

What you withdraw from an after tax portfolio is not directly income, only the gains on what you sold to do that withdrawal. All of the cap gains distributions and dividends will also count as income for your AGI, whether you withdraw or reinvest.

Look at your 1099s from last year to get an idea of the portfolio income you will report. Add the cap gains on what you sell. Your portfolio website should show the cap gains so far for each equity or fund, so you can make an estimate.

If it is from an IRA or 401K, every penny you withdraw is straight income and taxed at a much higher rate than cap gains and dividends. You would then be reporting only what you withdraw as straight income.

Caution: Do not withdraw early from an IRA or 401K. There are penalties, and pulling money out of those vehicles is a serious mistake too many people make.

Thanks eastwestgal. Very useful info

 

[SheitlQueen]

But I dislike two things mainly both about school and work:

- The fact that my freedom / time is in someones hands. E.g., That I have to be there at 9 am in an office setting
- Dealing with aggressive colleagues and bosses

If these are your big issues with work, the only suggestion I can make is to become self employed. Open your own business, do consulting work, do temp work. Being your own boss eliminates those problems.

 

[samclem]

If these are your big issues with work, the only suggestion I can make is to become self employed. Open your own business, do consulting work, do temp work. Being your own boss eliminates those problems.

It can help, but for a small business owner or consultant, every customer is a boss, and that boss doesn't care a bit about resource issues, your mood, etc. The only difference is that, with a hundred bosses, you can say "no" to some of them and still keep food on the table. But you may have to face a larger number of difficult people rather than a smaller number.