Recent content by FoolyCooly

Well, three months later I was able to close a loan without a power of attorney. Had to go through three mortgage brokers before I found one that was able to help me. AND got a better deal than the first three loans I tried to get. So It all worked out in the end.

Greetings I've recently applied for a HELOC to pull equity on my home to make a large purchases. One of the closing documents was a limited power of attorney to correct typographical errors. I've refused to sign this document as it would give the bank power to make changes to the loan...

My apologies, This is my interpenetration of the 4% rule. The 4% rule is usually coupled with the assumption that the stock market (S&P 500) does 5% on average every year, and inflation of 2%. Considering the past performance, where the stock market might crash, the 4% rule was created as a...

TLDR: Make 5% on your investments, spend only 4%. You have a 90% chance your money will last 30+ years. https://www.investopedia.com/terms/f/four-percent-rule.asp

Thanks, I think I'm prepared for another 2001 type recession. If we get another 2008 recession, I will have to postpone retirement to accommodate. I am hoping the next recession hits sooner than latter so I can retire on the rebound. If not, I may have to soft retire, and get that part time...

But they are still cheaper than where I am currently at! :laugh:

Lost my Job, lost my house, had little very little in an IRA ($2000?) Spend all my saving, maxed out CC's trying to survive and look for another job. Due to freak accident I got my house back in 2015. (I'm not supposed to talk about it [bank error in your favor, collect $200]) I'm currently...

A rough calculation 1M @ 2.5% = $25,000 400K @ 1.8% = $7,200 600K @ 5% = $30,000 = $62,200 Assume 5%/4% rule $62,200 * 4%/5% = $49,760 $49,760 -25% (taxes) = $37,320 or $3,000 per month Yes you can do it. The real question is, Can your life style shrink to fit this new amount of income...

Hello out there! 3 years, 6 months, 5 days and counting! It's a little slow at work today, so I am browsing internet looking for the FIRE forums. I'm getting a little impatient waiting for the end date, so I hope that this post will help me keep focused on the end goal. Not to get impatient...