I watch too much Dateline to buy life insurance
Mrs F has sworn that whatever she does to me, it will involve making it look like an accident WHILE WORKING. That’s how she plans on making it rain.
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Recommend unless you’re already close to being set for both your retirements with kids all grown up. I have enough to pay off our house outright plus a year of my salary. Will get more when we have a dependent needing college and such.
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- Max out 401k ($20,500)
- Max out HSA ($3,150 personal contribution, company contributes $500)
- Sell house (Depending on market, net proceeds of $70k - $85k)
- Contribute $12k - $15k between Roth and Brokerage accounts (Income is now to a point where Roth contributions are capped)
- $3,000 towards crypto
- Pay student loans (~$15k. Joey B, where you at? Help a brother out
) - Pay car loan (~$5k)
- Save for a “large” vacation for 2023. Hoping abroad, but who knows what travel will be like then
- Increase charitable giving by $1,001
All right! The rest of your goals look nice, too, of course.
Fixed
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Interesting to see so many actuaries investing in crypto. I’ve thought about investing in some, but at this point I would use it as nothing more than an inflation hedge.
This isn’t really a “goal”, but I have had a side hustle the past two years (see username) that has generated a six-figure income on top of two fellow-level salaries. I expect this to only be sustainable for another two years max, at which point I will have a roughly $500k bankroll that needs to find a home until retirement in a few years.
So what do you guys look for in these crypto investments? Is there diversification within crypto that mitigates some systemic risk associated with it? Do you consider any blockchain-driven investments apart from currency/ i.e. companies building smart contracts?
I’m way behind the curve still on crypto. I downloaded CoinBase and threw $200 at it just to get a toe in the water. It does seem that things like smart contracts and DeFi do have some legitimate use cases. The problem is it’s a competitive space and I suspect a ton of coins will go to zero. And, of course, there’s risk that govts will step in and regulate things, which could have enormous consequences.
So I still need to read a lot and I haven’t been doing that very much. My current crypto stash is $1k, I’m playing with very small dollars here.
Crypto is down a lot this week. Good time to buy in with some fun money.
I’ve put some recreational money into crypto. I don’t think of it as investing. I think of it more as liking tulips…
I view it the same way as - I’ve known actuaries who get really into gambling - online poker and horse racing come to mind as IRL examples of people I’ve worked with. We (as a profession) view ourselves as smart and some view gambling to be a side hustle. If one of us really throws themself into it and does their research they will likely profit, but it’s still in the realm of somebody who says they’re really good at card counting. Probably, but don’t bet the house.
DONE. Told the agent to bind me for a 20 yr and a 30 yr. (On top of a soon lapsing small one, regular employer provided, and the last 15 yrs of another purchase.)
Main idea was to have plenty through planned retirement age (cover lost income and other expenditures, like houses/college) and then into retirement some so it doesn’t threaten savings. At least will provide plenty for whatever income dependent on my living that would be lost should I pass in retirement (but before mid-80’s).
Wife wants form reminders of all dates where the step downs occur, so keep an eye for my family on an episode of 20/20.
I’m going to relax this a bit. There is a lot of work we want to do on the house yet, so I’m going to lower my savings rate so I can accelerate some of that. Mentally this is hard, my savings rate has been monotonically increasing for a long time, but it’s fine. I’m at about 60% of my FI number so it shouldn’t slow me down too much.
Down 40% since this comment. Buy the dip!!
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Fun money. 
I keep buying and the stonk market keeps inching down. Le sigh
I had dialed savings back a bit to fund house projects. The master bath is 90% funded, so with equities down 20-25% I dialed savings up a bit.
at $80 per year…you might be missing the letter “k” I hope?
max the HSA and the roth 401k at work. live on the rest. if there is money left over, save that too.
Hmm, I’m disagree with maxing out the 401k if you are paying down student debt and saving for a house. I don’t think you can realistically do all 3.
I did not have student debt, but bought a new car with cash and put 15% down on a house within 18 months of starting my first job. I only put in enough to get the match on my 401k. I lived pretty cheaply for those 18 months in a low COL area with a roommate.
Depending on the student debt. I think you can still track towards have 1m net worth in your 30s.
maybe if the market gives me 300% in the next 5 years