Why did you go back?
Need money? Bored at home?
Very curious as I plan to retire in the next year or so and I want to make sure I am not overlooking anything
Klaymen was pretty open about his finances here and hoping to do a part time gig for a while. I assume that eventually worked out, so good for him.
I by default assume both of you are pretty good at math and am not concerned about your retirement decision making. Get a second opinion if it would be helpful
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Yeah, my retirement was thinking I should be able to get by without ever earning another dime. However there are a few reasons why I wanted to work part time:
- I enjoy actuarial work, I just wanted to do less of it.
- It certainly canāt hurt to pad the retirement nest egg.
- My kids are minimum wage earners and I would like them to inherit a decent amount.
I donāt want to say I have been bored in the last five months, but I still want to be productive. If I end up regretting 20 hours of work - and I seriously doubt I will - I only have to live with the decision for six months. I donāt have a contract but for them interviewing me and in all likelihood sending a computer next week, I want to give them their moneyās worth. Hopefully it will be for a few years, or maybe there will be different opportunities. I have the freedom to find out anyway.
Goodbye agriculture, hello excess construction!
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First glance at income taxes for next year: before considering withdrawals from the inherited IRA, about $3200. 
The current plan is to take out $11,000 and use that to pay taxes + taxes on the withdrawal, which should leave us roughly flat.
Finally got my partnerās IRA set up. Theyād agreed to open one and Iād prodded them to make the necessary phone calls to do it on the phone as required by their 401k provider.
They were again not particularly excited to do the financial details and I wanted it done with, and I realized it might be even more pulling teeth and sitting together on speakerphone because weād need to set up a Backdoor Roth IRA situation. Instead (with permission) I opened them a Vanguard account and made an IRA there, because it can be done entirely online.
Kind of silly the other place makes you call in just to open an IRA!
Name and shame the 401k provider making you dial in to open an IRA
I canāt believe that is even an option in this day and age
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Principal. Isnāt my provider, just my partnerās. Their website is generally somewhat bad. For the convenience of keeping most of my money in Vanguard, I didnāt mind making them a separate account.
Wow Principal IRA is absolutely cursed
Gotta call to open an account and then annual IRA fee?!?!!
Sometimes I wonder how places like Edward Jones are still in business. But now I think Iām really starting to understand that there are people out there in the world who truly have no interest in educating themselves to handle their own financial health
Oh wow, I didnāt even see the fee. I would have been annoyed and probably rolled it over once I did! Vanguard has just a small paper statement fee that I went e-delivery to waive, plus expense ratios of something like 0.08% (havenāt picked out my funds yet as I wait for money to wind through the backdoor IRA process.)
This could also go in annoyed thoughts, but I noticed that Schwab was showing me as overweight in international investments. Upon reviewing the details, they had 3 ETFās categorized as international that are flat out incorrect: JEPI, SWYGX (Schwab target 2040 index), and USRT (US real estate ETF). I messaged them to let them know, and they said these are multi class investments so they categorize them in the best spot. WTF. These are not remotely close to predominantly international, so I asked them to look again.
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Well, here we are. Itās gonna be about $22k for the demo and all of the carpentry, probably $1k to $1.5k for electrical, $6k for a roof, and I havenāt gotten a stucco quote yet but guessing Iāll spend $3k or so to have the porch done and some other areas touched up. So Iād be right in the middle of my expected range, except weāve decided to paint the whole house after this is done, so add like $10k. I thought it could be more like $15k or a bit more but my neighbor says they paid less than $10k last year to have theirs painted.
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Wowser. That must be some porch.
Granted, it is the face of your house and greatly affects your curb appeal, but thatās a big investment.
I once spent a commensurate amount of money on residing my house from aluminum siding to a mix of ~85% cement siding and 15% engineered stone. It was a big upgrade on the curb appeal.
The decking is 300 sq ft, the foundations sit proud of it, itās not small. Itās an old house and Iām spending a lot to make sure itās historically accurate. Iāll post pics, but safe to say the porch carries a lot of the mass on the facade of the house and this will be huge for curb appeal.
I also didnāt hire the cheapest contractor, tired of dealing with half-ass people. And so far the crew has been phenomenal.