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The Bitcoin thread is in the general chat section. 
I’m targeting 22 times my projected final annual salary by age 65, which will likely happen if I can increase my retirement savings by 2% of my pay each year until I hit 25% (will obviously need to be post-tax and all that, but I’ve been sticking to this plan for a few years now and it’s been feasible with the raises I’ve been getting) and max out my HSA.
I’m hoping it’s way more than I need, but I’m not banking on social security. Aon’s 2018 retirement report indicated a person needs 16.4 times their final salary to retire at age 67. I’d like to have more than that, as I suspect that number will only increase before I get there. I’m also hoping to work past 65, but that’s not always within a person’s control.
I should clarify, advantage play gambling. Currently making a few thousand a month, but hard to know if the opportunities will be there in a decade.
There’s always the Chinese method of retirement. Tiger parent ur kids so they can support you in old age with a cush job. And then pass laws to throw them in prison if they don’t.
Curious, can you give any more details here?
Online sports betting arbitraging and obtaining VIP status with some larger sportsbook operators. Earlier this year it was a 10k/month opportunity. On an ongoing basis it’s worth $100-$200 a day just finding mismatched lines and taking advantage of promotions.
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Working for an insurance company is kind of like working for a casino sort of
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I’ve heard people use that metric, but I don’t like using it especially in the early retirement context. My wife and I are planning on retiring with just 6x our projected final annual salary, but will certainly be better off than most. I think a multiple of expected spend is much more useful.
I also disagree with the ‘social security wont be there’ argument. The dollar value may be unknown due to retirement age and benefit calculations, but to materially change it would be political suicide.
I’m not saying it won’t be there, I’m saying I don’t factor it into my retirement savings because I have no control over how much will be there. Do I think I will get nothing from social security? Probably not. Do I think there’s a good chance there will be legislation that significantly reduces how much I’ll get? Yeah, maybe. Either way, I don’t factor it in, so anything I get will be a windfall.
If ACA subsidies continue and I can keep my taxable income around 30K-40K, the government will subsidize most of this cost.
Let’s say I live on 70K. But 30K of that will be from a Roth. The tax on the other 40K would be about 5K.
Life insurance? Won’t need that when I’m not making $.
I’ll only need one car every 10 years, so $3K/yr
Good point on that health insurance. Just plugged in my assumptions into the calculator, and if I retired today only withdrawing $40k I’d get a $900/month discount on my premium.
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So draw down enough Roth to max out the ACA savings and use more taxable once you’re medicare eligible?
Yeah, draw down on the after-tax accounts. We will probably start cashing out the 401k soon after retirement to minimize income taxes, but keep it around 40,000 a year. This looks like it not only minimizes income taxes, but provides a juicy ACA supplement. The only issue is that 40 is 19.5 years away from the 59.5 minimum age for the SEPP method, and who knows if another income opportunity will present itself in that time that would negate the tax savings of a 401k.
Look into a Roth ladder as it’s much more flexible than SEPP. Needs a 5 year runway of expenses though, so it needs to be included in planning before pulling the trigger.
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Man, indulge a little when you retire, what are you doing with a 30k car?
Fully loaded civic imo
Well 3k per year appreciates to like 45k after 10 years so maybe something a little fancier
I guess it depends on what direction you mean by that 3k but Klaymen seems to be the type of person who saves up prior buying.