Mother Of All Whore Threads Non-VIP Edition v.1

Janz3n said:
Some of you guys certainly make a lot of money though.

Edit.
Neighbor just gave us permission to use his beach access.

Back story. Our landlords have a house in front of our rental that is ok the ocean but stated we can't use their beach access so we spent a summer and a few weeks this year driving to a beach. Now we can just walk to the beach. Makes that $47k a year rent more worth it.
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Being near the beach must be great -- the closest thing I have is a creek, and it's full of mosquitoes.
 
ethlar said:
dont you all start talking about retirement planning.... im still dealing with the fact that after all my education and schooling im only 4.5 years into my first and only out of training job.

there is no retirement plan for me, unless i get into independent consulting,
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I'm still new to the 'retirement planning' game if I'm being honest; and, I'm most of the way there being that I've already completed 1 career and am on my 2nd and have only been putting money into a 401K for about a year now. But, one thing I've learned that helps make the 'impact' of saving for the future easier is to take a bit of each raise and push that into a retirement account (IRA, 401K, TSP, etc.). So, say you make $60k/yr and are saving $0/yr at the moment. After a few years, ideally you'll get a promotion and/or a raise to say $65k/yr. Take even 10% of that $5k/yr raise and put it into some growth account; you'll still see a raise, just slightly less. But, you'll also be saving for your future which is incredibly more important; and the longer it is invested before you use it, the more valuable it becomes later when you choose to use it. I know $500/yr doesn't sound like a lot, but if you keep doing this consistently, over the next 20yrs, you'll find that it will make a huge impact on your future planning. And, if your employer has any sort of investment matching (mine does 4% to my 401K), you want to make sure that you're putting at least that much in as it will maximize your gains (effectively doubling your money, your 4% becomes 8% without costing you anything extra).

I'm currently putting away 7.5% of my salary to a Roth-401K (so, it's paid in after I pay all my taxes but it will be tax-free when I go to use it), plus I get 4% from my company on top of that (so, net combined is 11.5% of my salary going into an investment portfolio). My personal goal is to be able to retire in about 20yrs and not have to change my personal lifestyle (effectively maintain the same net income without having to work). I still think I need to be putting more away to get to my goal, maybe closer to 12% or more on top of my 4% match.

Again, retirement planning is something even I am still learning (I didn't think about it too much while I was in the Navy) but really wish I had focused on it more when I was early in my career. In the end, it is never really too late to start, but the sooner you start, the better.
 
AlmosN8kd said:
Yeah, that is an option too. I have friends that are doing that for a similar reason, lower cost of living, lower cost of medical care, same net income (essentially). But, one thing I'd recommend you ask your 'tax guy' is how that will work if you earn money in the US (based on where your money is saved and/or invested along with your citizenship) but live in another region of the world, how do you file taxes? From my cursory understanding talking with friends, you essentially get hit twice for taxes; basically, you pay US federal income taxes and what not (based on where the money is) and then you pay taxes to your host country (based on where you are). That may still work out in your favor and there are a lot of 'what ifs' in that statement as every country is different; but, could definitely be a factor in that decision. I know a couple of my friends were looking at a few different countries (I think Italy and Mexico were two near the top of their list) as they provided the best overall 'value' in terms of income, cost of living, taxes, and citizenship considerations.
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Yeah, we more likely will wait until retirement or at a time where we would not need an income. Simplifies things a ton more, lol.

@Janz3n we are aiming at Italy or Spain. Italy since we could possibly get citizenship since both of our great grandparents were from Italy. Spain since my mom is already there and basically a "proven concept" and if you meet a couple qualifications, after 4 years you can begin the process to get a citizenship there. Which my mom has just now(couple months ago) was conditionally approved.
 
AlmosN8kd said:
I'm still new to the 'retirement planning' game if I'm being honest; and, I'm most of the way there being that I've already completed 1 career and am on my 2nd and have only been putting money into a 401K for about a year now. But, one thing I've learned that helps make the 'impact' of saving for the future easier is to take a bit of each raise and push that into a retirement account (IRA, 401K, TSP, etc.). So, say you make $60k/yr and are saving $0/yr at the moment. After a few years, ideally you'll get a promotion and/or a raise to say $65k/yr. Take even 10% of that $5k/yr raise and put it into some growth account; you'll still see a raise, just slightly less. But, you'll also be saving for your future which is incredibly more important; and the longer it is invested before you use it, the more valuable it becomes later when you choose to use it. I know $500/yr doesn't sound like a lot, but if you keep doing this consistently, over the next 20yrs, you'll find that it will make a huge impact on your future planning. And, if your employer has any sort of investment matching (mine does 4% to my 401K), you want to make sure that you're putting at least that much in as it will maximize your gains (effectively doubling your money, your 4% becomes 8% without costing you anything extra).

I'm currently putting away 7.5% of my salary to a Roth-401K (so, it's paid in after I pay all my taxes but it will be tax-free when I go to use it), plus I get 4% from my company on top of that (so, net combined is 11.5% of my salary going into an investment portfolio). My personal goal is to be able to retire in about 20yrs and not have to change my personal lifestyle (effectively maintain the same net income without having to work). I still think I need to be putting more away to get to my goal, maybe closer to 12% or more on top of my 4% match.

Again, retirement planning is something even I am still learning (I didn't think about it too much while I was in the Navy) but really wish I had focused on it more when I was early in my career. In the end, it is never really too late to start, but the sooner you start, the better.
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When I started contributing to my 401k, I was always told to have a combined cont and match to 10% total. That's what I do now.

You pretty much have the jest of it. My only comment, not knowing your age or income at this 401k job, would be to contribute a bit more and try to catch up for lost time. Maybe pick a more risky strategy also. I know some plans can let you pick strategies.

When comparing my wives and my 401k accounts, she is WAY ahead of me for just having about 5-8 years of time difference. We both had similar incomes which came out to similar contributions and match amounts. Her balance is a little over double the amount I have now. So that time difference made a big amount. I know that the difference plans prob have different investment strategies that can make a difference also, but not trying to get to far in the weeds.
 
jasonandre said:
Welp, it finally happened. Life's necessities forced me into choices I didn't want to make.
Not only am I moving apartments in two weeks unplanned, I accidentally stumbled into a Honda dealership this afternoon and got a 2024 Civic Touring stuck on my shoe.

View attachment 66459View attachment 66460

Not having driven a car in at least five years has definitely taken its toll. I was all stressed out having to drive the whole five miles home.
I then immediately curbed one the wheels because I'm that dumb.
Anyway, I haven't had much time for pics and haven't eaten at all today yet, so this is all I've got for now.










...pssst. Don't tell anybody, but I kind of like this car.
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Finally woke it from its six-month slumber and took it out for a spin. Now stands at 31 miles.
Battery was dead which required a jump from my trusty Noco Boost Plus.
Apparently this model has the ability to limit the vampire effect, which allows the door locks to still function.

I know these updates aren't very interesting, but they certainly don't deserve their own thread.
Back to sipping warm sake. YUM.
 
jasonandre said:
Finally woke it from its six-month slumber and took it out for a spin. Now stands at 31 miles.
Battery was dead which required a jump from my trusty Noco Boost Plus.
Apparently this model has the ability to limit the vampire effect, which allows the door locks to still function.

I know these updates aren't very interesting, but they certainly don't deserve their own thread.
Back to sipping warm sake. YUM.
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Might want to unplug the battery so you don't end up killing its life span early.
 
AlmosN8kd said:
I'm still new to the 'retirement planning' game if I'm being honest; and, I'm most of the way there being that I've already completed 1 career and am on my 2nd and have only been putting money into a 401K for about a year now. But, one thing I've learned that helps make the 'impact' of saving for the future easier is to take a bit of each raise and push that into a retirement account (IRA, 401K, TSP, etc.). So, say you make $60k/yr and are saving $0/yr at the moment. After a few years, ideally you'll get a promotion and/or a raise to say $65k/yr. Take even 10% of that $5k/yr raise and put it into some growth account; you'll still see a raise, just slightly less. But, you'll also be saving for your future which is incredibly more important; and the longer it is invested before you use it, the more valuable it becomes later when you choose to use it. I know $500/yr doesn't sound like a lot, but if you keep doing this consistently, over the next 20yrs, you'll find that it will make a huge impact on your future planning. And, if your employer has any sort of investment matching (mine does 4% to my 401K), you want to make sure that you're putting at least that much in as it will maximize your gains (effectively doubling your money, your 4% becomes 8% without costing you anything extra).

I'm currently putting away 7.5% of my salary to a Roth-401K (so, it's paid in after I pay all my taxes but it will be tax-free when I go to use it), plus I get 4% from my company on top of that (so, net combined is 11.5% of my salary going into an investment portfolio). My personal goal is to be able to retire in about 20yrs and not have to change my personal lifestyle (effectively maintain the same net income without having to work). I still think I need to be putting more away to get to my goal, maybe closer to 12% or more on top of my 4% match.

Again, retirement planning is something even I am still learning (I didn't think about it too much while I was in the Navy) but really wish I had focused on it more when I was early in my career. In the end, it is never really too late to start, but the sooner you start, the better.
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I'm taking so many notes -- okay.

My employer offers us a pension -- to make it easier to classify us, the State of Texas treats all of its education employees as educators, no matter what position you actually have. So, I'm enrolled in the Teacher's Retirement System. I get a thingy in the mail quarterly that tells me details about it, but the verbiage is so dense, I think I need a professional to dumb it down for me.

We do have the option to open a separate retirement account, one of my coworkers does it. I think I have to do some legwork, though. I think we have a consultant on-campus, I might send them an email.
 
Honda-Fan said:
I'm taking so many notes -- okay.

My employer offers us a pension -- to make it easier to classify us, the State of Texas treats all of its education employees as educators, no matter what position you actually have. So, I'm enrolled in the Teacher's Retirement System. I get a thingy in the mail quarterly that tells me details about it, but the verbiage is so dense, I think I need a professional to dumb it down for me.

We do have the option to open a separate retirement account, one of my coworkers does it. I think I have to do some legwork, though. I think we have a consultant on-campus, I might send them an email.
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You prob can just open a 401k account on your own and just have your employer put a portion of your paycheck into that account. Or just cut a check/transfer funds yourself.

You just have to open an account with a 401k “provider”. Like Fidelity, John Hancock and many many others.
 
Houston folks - How do you guys do it? It’s hotter than satan’s butt crack and it’s not even 7:00a. I’m dripping sweat like crazy.
 
FooBird said:
Houston folks - How do you guys do it? It’s hotter than satan’s butt crack and it’s not even 7:00a. I’m dripping sweat like crazy.
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Don't worry, it gets hotter. :(

It stops raining in Texas during the summer for a few months, so it never cools down.
 
Honda-Fan said:
I'm taking so many notes -- okay.

My employer offers us a pension -- to make it easier to classify us, the State of Texas treats all of its education employees as educators, no matter what position you actually have. So, I'm enrolled in the Teacher's Retirement System. I get a thingy in the mail quarterly that tells me details about it, but the verbiage is so dense, I think I need a professional to dumb it down for me.

We do have the option to open a separate retirement account, one of my coworkers does it. I think I have to do some legwork, though. I think we have a consultant on-campus, I might send them an email.
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Pensions are much more rare these days than they used to be; mostly because they cost so much long term (a huge part of that is the increase in life expectancy). I got one from my time in the military and collect it to this day; but, even the military is moving away from pensions due to the cost. The key thing to understand about a pension is how much it grows over time, what is the minimum time required to collect it, what the payout is based on, when you can collect it, and whether or not it is adjusted for inflation.

For example, while I was in the military, I was under the "High-3" system for active duty personnel (it is different for reservists); so, the value of my retirement was based on the average of my 3 highest paid years (which is tied to one's rank). The value was 2.5%/yr of that High-3 average and you had to do a minimum of 20yrs to be able to collect it (that comes out to 50% of your High-3 average up to a maximum of 75% at the 30yr point) and you can begin collecting it for the remainder of your life after you retire from the service (this has changed a bit in the past few years, I'm not sure how the new system works exactly) and it is adjusted for inflation based on the average Consumer Price Index for all products across the US for the year. The reservist system works slightly different but retired reservists cannot collect their military retirement until they turn 65.

The Federal Employees Retirement System works similarly, they get 1%/yr based on their highest paid position so after 20yrs, they'll get 20% of that amount (I'm not sure of all the rules with the Federal Retirement System though). Since you're a state employee, I'd assume your pension is likely similar to this; but, anything you can invest beyond this (such as in a traditional or Roth IRA or 401K), will help build towards your future plans. But, understanding how your pension works, will help you make more informed decisions on promotions, if you should stay with the state or take another job, how much you will get in your pension when you do collect it, and if your pension is inflation insulated (does it adjust each year for inflation?). Understanding these will help you know your financial needs as you get older and help you understand what you should be saving now to achieve that goal in 40, 50, 60yrs; this is the part I wished I'd taken the time to learn more when I was 10-20yrs younger, would've made a big difference in my retirement savings than where I'm at now; but, again, never too late to start. Does this help?
 
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I never really knew anything about pensions. Sounds like it is basically a 401k that you never contribute into. Pretty nice.


It was hot as ballz this weekend and will be for another 2-3 days. Like 95 and above with heat index into the 100s, then toss in that lovely humidity. No bueno.

I was working under our deck to install some screen to keep the bugs out in the screened deck. I was only able to work for two and a half hours. I was completely drenched in sweat, even my socks! lol. And I wasn't even in the direct sun.
 
Nomar06 said:
I never really knew anything about pensions. Sounds like it is basically a 401k that you never contribute into. Pretty nice.
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Never really thought about it that way, but that is a very good analogy. I always saw it as a tool to keep someone loyal to a company; as, if you left, the pension stayed with that company and you got nothing in return. Folks move between companies a lot more fluidly these days; part of that could be the lack of pensions and the shift towards IRAs/401Ks as those move with the employee. But, if you have a pension, you have to decide if it is worth staying or worth going and what the 'right' time to retire is; but, that is different for everyone.

Nomar06 said:
It was hot as ballz this weekend and will be for another 2-3 days. Like 95 and above with heat index into the 100s, then toss in that lovely humidity. No bueno.

I was working under our deck to install some screen to keep the bugs out in the screened deck. I was only able to work for two and a half hours. I was completely drenched in sweat, even my socks! lol. And I wasn't even in the direct sun.
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I spent a good portion of the weekend outside as well; but, for some reason, I've not been as affected by the heat as others. I'll be barely warm and my wife will be dripping with sweat (so, I know, if I'm ever soaking, she's miserable); but, I'm always freezing anytime it drops below like 60F.
 
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