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Forum: FIRE and Money Today, 12:42 PM
Replies: 48
Views: 3,066
Posted By armor99
No one knows how long their road is. I would say...

No one knows how long their road is. I would say if you have the means to do something else you would rather be doing... then you should go. At the end of their lives, no one EVER says, ďI wish I...
Forum: FIRE and Money Yesterday, 11:46 AM
Replies: 35
Views: 1,433
Posted By armor99
Can I F.I.R.E in 8 years?

These are very significant. Getting to your money without having to pay penalties on it is key. I hate the idea of giving away money I worked so hard for.

Whatever age you choose to retire at,...
Forum: FIRE and Money 10-10-2020, 10:07 AM
Replies: 15
Views: 1,302
Posted By armor99
In that timeframe to make any money at all, would...

In that timeframe to make any money at all, would mean you would have to take significant risk at loosing some of it. If you say 5-10 years, the answer might be mutual funds...
Forum: FIRE and Money 10-10-2020, 10:04 AM
Replies: 176
Views: 15,514
Posted By armor99
I think into everyones life comes luck on...

I think into everyones life comes luck on occasion, both good, and bad. But my experience has been that the harder I worked, the luckier I seemed to get. I still believe a lot of it has to do with...
Forum: FIRE and Money 10-09-2020, 12:57 PM
Replies: 176
Views: 15,514
Posted By armor99
So I was curious.... did some poking around about...

So I was curious.... did some poking around about that 42% earning minimum wage. Yeah... that is a bit mis-leading. That is for ALL workers. Including part time workers, and teenagers that still live...
Forum: FIRE and Money 10-09-2020, 09:25 AM
Replies: 176
Views: 15,514
Posted By armor99
Wow.... 42% of people in the US are trying to run...

Wow.... 42% of people in the US are trying to run a household on minimum wage? I had no idea it was that high. I am really curious where those numbers came from. (Promise I really do want to read...
Forum: FIRE and Money 10-07-2020, 04:07 PM
Replies: 176
Views: 15,514
Posted By armor99
I suppose you are correct. If someone only uses...

I suppose you are correct. If someone only uses short term thinking they will almost always become poor, and stay that way. Long term thinking has just been a part of who I am as a person. Hard for...
Forum: FIRE and Money 10-07-2020, 08:54 AM
Replies: 176
Views: 15,514
Posted By armor99
Just to prove a point, I plugged this one into my...

Just to prove a point, I plugged this one into my compound interest calculator this morning.
Staring with nothing, what would $200/month turn into in 40 years, at 7% average gain? The answer is...
Forum: FIRE and Money 10-05-2020, 10:30 PM
Replies: 176
Views: 15,514
Posted By armor99
I truly do feel bad for bad things that happen to...

I truly do feel bad for bad things that happen to good people, and I know it really does happen all the time. But the question I always ask, is how many times did you get unlucky, and for how long...
Forum: FIRE and Money 10-05-2020, 12:33 PM
Replies: 176
Views: 15,514
Posted By armor99
There is a simple premise by which I have lived...

There is a simple premise by which I have lived my life so far. Donít give fate a reason to come find you. Life is full of the uncontrollable, but almost everyone has some degree of control over what...
Forum: FIRE and Money 10-05-2020, 12:25 PM
Replies: 176
Views: 15,514
Posted By armor99
And the saddest part of this, is that it is...

And the saddest part of this, is that it is completely preventable in most cases. Consider this... if your life depended on it, could you save $200 a month? I think the vast majority of people can....
Forum: FIRE and Money 09-19-2020, 05:15 PM
Replies: 36
Views: 4,388
Posted By armor99
Rule of 55. So close now, no point in paying...

Rule of 55. So close now, no point in paying feesyou donít have to.
Forum: Young Dreamers 09-15-2020, 08:10 PM
Replies: 39
Views: 2,979
Posted By armor99
401k after retirement

This is actually significant if you are planning to retire at 55. It would be horrible to move your money, and then have to pay penalties to get to it. Whereas had it stayed in the 401k no penalties...
Forum: FIRE and Money 07-31-2020, 07:38 PM
Replies: 32
Views: 4,087
Posted By armor99
Once a quarter... he should have his wife give...

Once a quarter... he should have his wife give him a job performance accessment... go over goals for the following year... tell him how he has stacked up against his peers... hahah. [emoji33]🥃
Forum: FIRE and Money 07-31-2020, 05:53 PM
Replies: 32
Views: 4,087
Posted By armor99
I am still many years away from retirement. Lots...

I am still many years away from retirement. Lots of hurdles and weirdness yet in store before I get there. My NW just crossed 1.3M, and just over 1M invested. 401ks etc. But I can certainly relate to...
Forum: Young Dreamers 07-20-2020, 09:04 AM
Replies: 44
Views: 4,505
Posted By armor99
Just curious what you did about getting at your...

Just curious what you did about getting at your retirement accounts so early? I may find myself in the situation of being able to FIRE, but not old enough to touch my 401k Etc without tax penalties....
Forum: FIRE and Money 07-19-2020, 12:55 PM
Replies: 58
Views: 2,705
Posted By armor99
Just a word on why listing the beneficiaries on...

Just a word on why listing the beneficiaries on your retirement accounts is SO important.

Recently I got my trust set up, and the lawyer explained to me the from the legal viewpoint, what is...
Forum: Young Dreamers 07-09-2020, 01:12 PM
Replies: 73
Views: 2,633
Posted By armor99
For what it is worth... These are my thoughts. To...

For what it is worth... These are my thoughts. To retire by 40 is a pretty lofty goal. It is possible, but it is a really rare thing. I compare it to becoming an NFL player. Possible, but...
Forum: Young Dreamers 06-28-2020, 04:08 PM
Replies: 18
Views: 1,274
Posted By armor99
I have always found it interesting that the term...

I have always found it interesting that the term gentrification is only a dirty word amongst renters. People who own their own homes love this!
Forum: FIRE and Money 06-27-2020, 09:39 PM
Replies: 63
Views: 5,041
Posted By armor99
Ask yourself this question... if you suddenly...

Ask yourself this question... if you suddenly lost your job, would you rather have the cash, or a paid off house? No wrong answer... just preference...
Forum: Young Dreamers 06-27-2020, 09:37 PM
Replies: 18
Views: 1,274
Posted By armor99
I donít think thereís anything wrong with...

I donít think thereís anything wrong with renting. Provided you donít do it for very long periods of time in your life.
The advantage of renting is no long term commitments. If a job goes south,...
Forum: Young Dreamers 03-08-2020, 07:03 AM
Replies: 20
Views: 2,039
Posted By armor99
Just one issue some people might find themselves...

Just one issue some people might find themselves in... like I do.

If you have a ROTH 401k. When you turn 55 (assuming you are retiring then) you must first roll over your ROTH 401k to a ROTH IRA,...
Forum: Young Dreamers 02-10-2020, 08:23 PM
Replies: 44
Views: 4,505
Posted By armor99
So you want to know the secret to being able to...

So you want to know the secret to being able to retire early? The secret is.... there is no secret. [emoji33]
It basically comes down to two things... how much income do you need to live on, and...
Forum: Young Dreamers 01-30-2020, 12:56 PM
Replies: 61
Views: 6,375
Posted By armor99
There is one wrinkle.... the rule of 55 applies...

There is one wrinkle.... the rule of 55 applies to Roth 401k as well, but you will pay a prorated amount of tax on the growth, but no penalties... However, if at 55 you move it into a Roth IRA, and...
Forum: Young Dreamers 01-05-2020, 02:29 PM
Replies: 59
Views: 6,977
Posted By armor99
I can strongly agree with you about the India...

I can strongly agree with you about the India thing. In the world of commercial aerospace fully one third of engineers in companies I have worked for in the past were from Bangalore. One of the many...
Showing results 1 to 25 of 466

 
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