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I consider myself a “self-made” deca millionaire, but early on I got some help. Mom and Dad made me an interest free loan towards a down payment on first home when I was 25. I repaid them about ten years later. That home equity (it appreciated a lot quickly) was essentially my first wealth...

Wow, I wasn’t aware of this option until stumbling onto this thread. I reviewed the rules…starting in 2024 you can roll over the max Roth contribution (currently $6,500/year) up to a max of $35k total. The catch is that, just like with a regular Roth, you can only contribute up to the amount...

Congrats. I remain confused why people exclude real estate from net worth. If I’m a renter with a million in the stock market I have a million dollar net worth. If I exchange that money from stocks to a house, did my net worth really just drop to zero?

I’m doing a kitchen remodel. My ovens died (which finally got me to do it) but I’ll be replacing a working (yet horribly loud to the point I never use it) dishwasher.

Wonderful autocorrect had me baking spouses and children in previous post. [emoji23]

Congrats on getting to the end of this process. As the guy in my group who routinely talks about finance, I’ve been asked by multiple friends to be their executor. Whenever possible, I ask them to bake their spouse, adult child, etc. and I offer to “supervise and provide sound guidance.”...

I’d probably stick with a 1-2 year CD for now. I doubt she’d do much better with stocks and the CD protects principle and kicks off monthly income.

Yes! As a retired person, I have 800 FICO, lots of liquid assets, and high six figures of passive income annually. And my mortgage guy told me I can’t qualify for a mortgage because my income is not the type of income the banks recognize. So, yeah, I’d get a HELOC before calling it quits.

Bonds are certainly not yielding 7.5%. That said, I don’t think it’s a horrible idea to flip from 60/40 to 40/60 given current relative valuations for stocks / bonds vs historical benchmarks.

If TLT drops back down to 100 I’ll be loading up.

I routinely move high six figure and low seven figure amounts because I do private lending. Knock on wood, it has not caused any IRS issues in the 10 years I’ve been doing it.

Currently I’ve got about a year’s worth of spending liquid. But as a % that’s not large.

Thank you to all who've replied. I spoke to her last night, and she totally agrees that we do not want her or the kids on Medicaid. (And FYI, lest anyone thinks I've cut off my family, please understand that the ex has well into seven figures of assets that I gave her in the divorce and she...

I recently finished paying years of alimony. My ex does not work outside the home and generally claims the two kids on her tax return. Next year her declarable, taxable income is likely to be very low, perhaps $10k or so. The child support I pay is not declarable on her tax return. (And...

Thanks. I've been selling businesses, and it's all done via email and phone. But 2021 was a banner year based on market euphoria and easy money. My typical year's paycheck (including 2022) is a fraction of what 2021 produced.

I joined this forum over 10 years ago and became interested in the concept of FIRE. But I haven't been active for a few years, because I felt like a posieur. I kept OMY'ing for year after year after year, because my j*b was actually enjoyable, had great colleagues and made a great income...

30 year treasuries are currently yielding ~4%.

I filed my kids’ simple paper returns back in March. USPS showed they were delivered a few days later. Now in August, the where’s my refund tool still shows nothing. (They’re each owed a refund.) My accountant friend suggested I Google “IRS transcript” to try to track them down and also...

Thank you.

I've heard of something called CDARS which essentially allows someone to place more than the FDIC limit into multiple CDs through one account and have FDIC protection on all of it. I like the concept, but don't want to lock up funds in CDs. Is there any similar product for savings accounts?

If he truly is good friend, then I’d consider a loan with conditions where you’re in charge of selling his house, you get veto power over his next house and you get to dole out the balance of his equity to him in monthly payments. My ex wife (mother of our kids) is a good person and I still...

For the good of society, please plan to w*rk until you’re 145 years old. ;)

I’m 50. I’ve been OMY’ing since I joined this board about ten years ago. At this point I don’t think twice about spending but curiously my wants have mostly dissipated. I simply lost most of the desire for stuff.

THANK YOU!!! It's bizarre...I was staring at the site for an hour and couldn't see that. As soon as you told me where to look, I found it. I really appreciate the help.

Thank you. I had no problem opening up my own account. The issue was finding the link (I still haven't found it) for a "Linked Account" so that I can buy I-bonds in my kids' names. Do you happen to know where on their site to do that? I've found the instructions for doing it and they say the...