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Search: Posts Made By: Penny6
Forum: Hi, I am... 04-12-2019, 12:56 PM
Replies: 82
Views: 8,392
Posted By Penny6
If early retirement is what you want it may...

If early retirement is what you want it may require sacrifices now. Your income is stellar in the real world but your debt is staggering. Although your peers may be living it up you have the...
Forum: Young Dreamers 04-12-2019, 11:23 AM
Replies: 90
Views: 32,016
Posted By Penny6
Awesome work! Great diligence to reach your...

Awesome work! Great diligence to reach your financial goals. For some high income earners, savings is not on their radar. You have outlined how its not only possible, but necessary. No job is...
Forum: Young Dreamers 03-31-2019, 06:44 PM
Replies: 90
Views: 8,119
Posted By Penny6
Ty for all the encouragement. Home is paid off...

Ty for all the encouragement. Home is paid off and joined the double comma club. So thankful, and excited about what is to come!
Forum: Young Dreamers 03-25-2019, 05:41 PM
Replies: 15
Views: 1,121
Posted By Penny6
You are also confusing Roth Conversions with Back...

You are also confusing Roth Conversions with Back Door Roth.

Yes I did more reading I had it wrong. The conversions are what have taken place yearly. The funds in the IRA are nondeductible...
Forum: Young Dreamers 03-24-2019, 08:30 PM
Replies: 15
Views: 1,121
Posted By Penny6
The 8606 has been filed appropriately on the...

The 8606 has been filed appropriately on the money, the taxes were paid and it was considered income the year it was rolled over. I never said it was not. All money that has been added has been non...
Forum: Young Dreamers 03-23-2019, 08:15 PM
Replies: 15
Views: 1,121
Posted By Penny6
I left a job to become a sahm and converted a...

I left a job to become a sahm and converted a 403b to TIRA. We have crossed limit for direct Roth contributions so we have been doing TIRA contributions then backdoor into ROTHs for the last couple...
Forum: Young Dreamers 03-23-2019, 06:58 PM
Replies: 15
Views: 1,121
Posted By Penny6
Roth conversion

If you had 65k in 2 traditional IRAs and currently doing back door roths yearly would you consider paying the taxes now and converting them all at once? Or wait it out til retirement and try to...
Forum: FIRE and Money 03-19-2019, 03:32 PM
Replies: 154
Views: 23,716
Posted By Penny6
We have been averaging about 6-7k a year. Going...

We have been averaging about 6-7k a year. Going to expand the travel budget to 10k as we want to do more international travel. Flights are what can truly get you with a family of 5. We travel off...
Forum: Young Dreamers 01-11-2019, 11:07 PM
Replies: 90
Views: 8,119
Posted By Penny6
This is what we are trying to weigh in on. It's a...

This is what we are trying to weigh in on. It's a single stock sell off. We are still investing now and could plow this money into the market or gear toward house payoff. Not in an effort to be a...
Forum: Young Dreamers 01-11-2019, 05:04 PM
Replies: 20
Views: 3,332
Posted By Penny6
Combine savings/emergency fund Pay off debt 1st...

Combine savings/emergency fund
Pay off debt 1st
Max out 401k-19keach- 38k
fund 2 Roth IRA 12k
Live off the other 50k
Forum: Young Dreamers 01-11-2019, 02:58 PM
Replies: 90
Views: 8,119
Posted By Penny6
The "invested" stock be sold one portion is from...

The "invested" stock be sold one portion is from a stock purchase which he contributes to during the year and gets a 15% gain/ discount on the lower price of the yr. Second sell off is a 3yr payoff...
Forum: Young Dreamers 01-11-2019, 02:38 PM
Replies: 90
Views: 8,119
Posted By Penny6
This is encouraging and inspiring. I hope the...

This is encouraging and inspiring. I hope the house payoff will be the basis of many future financial wins for our family as well. The truth is the least it will do is give us more options for our...
Forum: Young Dreamers 01-11-2019, 02:36 PM
Replies: 90
Views: 8,119
Posted By Penny6
This idea is very inviting, probably the biggest...

This idea is very inviting, probably the biggest tug along with financial freedom to invest and a little less risk hanging over our heads as life with 3 children carries on.
Forum: Young Dreamers 01-02-2019, 12:58 PM
Replies: 90
Views: 8,119
Posted By Penny6
Pay off house or dump it in the market?

We are looking at paying off our house by April 2019, 59K left(original plan). We are 32&36 we said if there was a drop in the market we would revisit. The house is our only debt. We fully fund 1...
Forum: Young Dreamers 01-02-2019, 10:18 AM
Replies: 28
Views: 2,172
Posted By Penny6
Roth

Roth
Forum: Other topics 04-15-2018, 09:37 PM
Replies: 88
Views: 5,678
Posted By Penny6
Living in poverty with disorganized and nonmobile...

Living in poverty with disorganized and nonmobile adults in charge. Realizing from a very young age 6yrs old this is not my forever reality. Learning the how- hard work, persistence, determination...
Forum: Young Dreamers 03-25-2018, 05:08 PM
Replies: 51
Views: 5,907
Posted By Penny6
We decided to put a small portion of a bonus 4k...

We decided to put a small portion of a bonus 4k to the Roth 401k since we still received a tax refund. We will see if it what impact it has and maybe increase 1-2% a year from here. The rest will go...
Forum: FIRE and Money 10-18-2017, 11:03 AM
Replies: 17
Views: 2,738
Posted By Penny6
Pay down to get rid of PMI and invest the rest in...

Pay down to get rid of PMI and invest the rest in a taxable account for a little diversification.
Forum: Health and Early Retirement 10-09-2017, 11:39 AM
Replies: 89
Views: 5,245
Posted By Penny6
I think there is a difference between assisted...

I think there is a difference between assisted suicide and respecting end of life wishes. As a nurse ive seen instances where DNRs should not have been rescinded but end of life emotions flood and...
Forum: Other topics 08-28-2017, 02:35 PM
Replies: 338
Views: 20,305
Posted By Penny6
Was on family vacation, extended the trip....

Was on family vacation, extended the trip. Returning to continental U.S. tomorrow cant get back into Hou just yet as airports are down and high waters.
Forum: Young Dreamers 08-15-2017, 10:01 PM
Replies: 115
Views: 34,316
Posted By Penny6
We are currently 31 and soon to be 35 those ages...

We are currently 31 and soon to be 35 those ages are the projected retirement ages[emoji12]
Forum: FIRE and Money 08-15-2017, 09:12 PM
Replies: 10
Views: 1,707
Posted By Penny6
Thought of this as well. Bc its hard to find...

Thought of this as well. Bc its hard to find people in the real world 30somethings who are planning or even informed about retirement. Of a set of 4 couples 1 couple good friends husband is a Dr....
Forum: Travel Information 08-08-2017, 05:28 PM
Replies: 63
Views: 5,439
Posted By Penny6
Is purchasing a vacation home a good idea?

Considering investing in a vacation property to enjoy for years to come. Wanting those who own or have owned a property to weigh in on the pros and cons. Travel 2-3 times a yr currently spend approx...
Forum: FIRE and Money 07-19-2017, 11:26 PM
Replies: 24
Views: 2,736
Posted By Penny6
What is the benifit of contributing post tax...

What is the benifit of contributing post tax income to the 401k if you turn around and convert it to an IRA or is the conversion happening at a later time when the funds are needed?
Forum: FIRE and Money 07-19-2017, 11:22 PM
Replies: 24
Views: 2,736
Posted By Penny6
For clarity- pre tax personal contribution 18k to...

For clarity- pre tax personal contribution 18k to 401k + company contribution + post tax 401k contribution if company allows can be < or = to 54k/yr
Showing results 1 to 25 of 45

 
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