The Swamp

Posted: **Wed Nov 04, 2020 4:36 pm**

govmentchedda wrote: ↑Wed Nov 04, 2020 3:35 pm My thoughts are, Bravo Syb and Lady Syb! No mortgage is fantastic.

#1, this. No matter what. At the end of the day you're free of payments. My financial advisor was also bothered that I did this with my first home and am in process on my second home. He has always claimed that by investing I'm netting more money in returns than my interest, but my argument is that those returns aren't guaranteed and I wouldn't borrow money to invest, which is essentially what he's telling me to do. The idea net on that money you'd pay off your things with is 3.5%. How good can that be unless you're talking a TON of extra?

I think there's an adequate balance of risk and reward in investment, but the long game of maybe making a couple more grand here or there versus the stability and peace of mind of not owing on anything is more than worth it to me. Debt is terrible and stressful in almost all accounts.

Posted: **Wed Nov 04, 2020 4:39 pm**

Peace of mind. That's the phrase I was trying to pull out of my skull. Aging.

Posted: **Wed Nov 04, 2020 4:42 pm**

I just want to be clear...unless you have real "wealth" having your home paid off makes tons of sense for the reasons mentioned.

Posted: **Wed Nov 04, 2020 5:12 pm**

In my experience, the same people who tell you to invest never tell you how. Never give guidance. Never offer a financial adviser. Never tell you where to educate yourself. Just INVEST, BRO.

Person A: "So, I did [thing involving money]."

Person B: "You know if instead of doing [thing involving money], you INVESTED it you could make more money. You SHOULD HAVE done that."

Person A: "Uh, ok, but my current life situation dictates that I needed to do [thing involving money]."

Person B: "Should have invested it, man."

Person A: "..."

Posted: **Wed Nov 04, 2020 5:43 pm**

If someone here, because they love my posts, gave me an amount equal to my remaining mortgage I would pay it off no matter what percentage I was told I could get investing. If the market does eventually crash, you're out whatever percentage of that money and you're still sitting on that debt. Playing both sides makes sense when you can afford to risk the loss.

Posted: **Wed Nov 04, 2020 6:28 pm**

Is this thing on?

Posted: **Wed Nov 04, 2020 6:33 pm**

BSF21 wrote: ↑Wed Nov 04, 2020 4:36 pm
govmentchedda wrote: ↑Wed Nov 04, 2020 3:35 pm My thoughts are, Bravo Syb and Lady Syb! No mortgage is fantastic.
#1, this. No matter what. At the end of the day you're free of payments. My financial advisor was also bothered that I did this with my first home and am in process on my second home. He has always claimed that by investing I'm netting more money in returns than my interest, but my argument is that those returns aren't guaranteed and I wouldn't borrow money to invest, which is essentially what he's telling me to do. The idea net on that money you'd pay off your things with is 3.5%. How good can that be unless you're talking a TON of extra?

I think there's an adequate balance of risk and reward in investment, but the long game of maybe making a couple more grand here or there versus the stability and peace of mind of not owing on anything is more than worth it to me. Debt is terrible and stressful in almost all accounts.

Not what I expected with your preface... Our goal was to pay off the mortgage, and use the monthly savings for a down payment on the new house, then pay down the new mortgage with the proceeds of the sale. Allowed us to do some work before moving in, move out before fixing old house, and not have to show the house while living in it, which was a huge plus when COVID hit. Talking that through, we totally made the right choice. Two mortgages would have been a terrifying stress during lockdown.

Posted: **Fri Nov 06, 2020 10:36 pm**

Had to reschedule a call with my insurance agent today. He replied with a text that included a heart emoji, a taco emoji and a blushing face emoji.

I may change companies.

Posted: **Fri Nov 06, 2020 10:42 pm**

Go for it, Jerloma!

Posted: **Fri Nov 06, 2020 10:44 pm**

Ryan wrote: ↑Fri Nov 06, 2020 10:42 pm Go for it, Jerloma!

I can’t think of a scenario where someone I don’t know personally should ever send me a hear emoji. I’ll give you tacos because some things are universal. But is he embarrassed about liking tacos? Even more reason.

Posted: **Fri Nov 06, 2020 10:49 pm**

Update: I got my random messages from the insurance agent and the thank you email from chuys Tex mex carry out confused. I will allow chuys to send me taco emojis.

I left work early and my be drunk.

Posted: **Fri Nov 06, 2020 10:53 pm**

A_B wrote: ↑Fri Nov 06, 2020 10:49 pm Update: I got my random messages from the insurance agent and the thank you email from chuys Tex mex carry out confused. I will allow chuys to send me taco emojis.

I left work early and my be drunk.

This may be peak Bond,

Posted: **Fri Nov 06, 2020 10:59 pm**

The insurance agent was very professional. I’ll send referrals.

Also the chuys was fucking excellent.

Posted: **Sat Nov 07, 2020 12:08 am**

That was funny.

Ps: the wife and I had a cocktail (or two) tonight with the delightful name: Corpse Reviver #2.

Posted: **Sat Nov 07, 2020 7:03 am**

A_B wrote: ↑Fri Nov 06, 2020 10:59 pm The insurance agent was very professional. I’ll send referrals.

Also the chuys was fucking excellent.

TWILTS

Posted: **Sat Nov 07, 2020 8:21 am**

I'm not ruling out that you said you had Mexican food-induced diarrhea and he just wanted to bond with his client.

Posted: **Fri Nov 13, 2020 2:46 pm**

I've had three people I went to high school with die in the last three months. One from something yet unknown, though possibly COVID-related heart attack, another from a heart attack and another from cancer. (I only had 150-ish people in my graduating class.)

Posted: **Fri Nov 13, 2020 3:32 pm**

brian wrote: ↑Fri Nov 13, 2020 2:46 pm I've had three people I went to high school with die in the last three months. One from something yet unknown, though possibly COVID-related heart attack, another from a heart attack and another from cancer. (I only had 150-ish people in my graduating class.)

Shit.

Posted: **Fri Nov 13, 2020 3:40 pm**

Steve of phpBB wrote: ↑Fri Nov 13, 2020 3:32 pm
brian wrote: ↑Fri Nov 13, 2020 2:46 pm I've had three people I went to high school with die in the last three months. One from something yet unknown, though possibly COVID-related heart attack, another from a heart attack and another from cancer. (I only had 150-ish people in my graduating class.)
Shit.

What, did you have a locker near him or something?

(See, I can do the TT thing)

Posted: **Fri Nov 13, 2020 3:44 pm**

Referencing It Follows would be appropriate geographically and inappropriate in just about any other way.

Posted: **Tue Nov 17, 2020 5:44 pm**

So that's why he endorsed Trump!

Rapper Lil Wayne charged with federal gun offense in Florida

And the gun is even gold plated. 🤣🤣🤣

Posted: **Tue Nov 24, 2020 3:26 pm**

since there was an investment-related discussion here and I can't find a related thread via search, I have a question that I want to bounce off people

am I crazy if I want to start saving/investing my non-matched retirement money in an accessible account for future long-term investments like real estate/etc vs. putting it all into a retirement account I can't access in the near future?

I've been wondering if this is a good idea. to be clear, I would still continue to maximize my company's match so the "free" money would not be impacted. but it would be taking the dollars that aren't doubled and still investing them, but just not into an account that's locked for years if we want to start getting into the real estate game in a few years.

Posted: **Tue Nov 24, 2020 3:46 pm**

Brontoburglar wrote: ↑Tue Nov 24, 2020 3:26 pm since there was an investment-related discussion here and I can't find a related thread via search, I have a question that I want to bounce off people

am I crazy if I want to start saving/investing my non-matched retirement money in an accessible account for future long-term investments like real estate/etc vs. putting it all into a retirement account I can't access in the near future?

I've been wondering if this is a good idea. to be clear, I would still continue to maximize my company's match so the "free" money would not be impacted. but it would be taking the dollars that aren't doubled and still investing them, but just not into an account that's locked for years if we want to start getting into the real estate game in a few years.

Not at all. Get your full 401k match + max whatever you can to write off. Beyond that, open a managed brokerage account so you're liquid if you need to be.

Posted: **Tue Nov 24, 2020 3:48 pm**

Yeah I don't see any problem with that at all if you want that liquidity in less than 30 years.

Posted: **Tue Nov 24, 2020 3:55 pm**

Tax implications though.

I have no idea what they are, but I’ll bet there are some.

Posted: **Tue Nov 24, 2020 3:59 pm**

Steve of phpBB wrote: ↑Tue Nov 24, 2020 3:55 pm Tax implications though.

I have no idea what they are, but I’ll bet there are some.

Yeah I suppose any interest gained may be taxable in the same year since you aren't putting it into a Roth or something similar because you want it accessible. Basically does the potential interest put you into another tax bracket?

Posted: **Tue Nov 24, 2020 4:03 pm**

A_B wrote: ↑Tue Nov 24, 2020 3:59 pm
Steve of phpBB wrote: ↑Tue Nov 24, 2020 3:55 pm Tax implications though.

I have no idea what they are, but I’ll bet there are some.
Yeah I suppose any interest gained may be taxable in the same year since you aren't putting it into a Roth or something similar because you want it accessible. Basically does the potential interest put you into another tax bracket?

I think if you have an investment account, the return isn’t taxed until you cash it out.

But I think the issue isn’t necessarily the tax bracket, but rather if and when you pay taxes, you’re no longer getting a return on that amount. I’d have to chart it out to see if that really matters though.

Posted: **Tue Nov 24, 2020 4:19 pm**

[HDO voice] Interest and dividends are taxed annually, gains are only taxed when realized (assets sold) and can be offset by losses.

Posted: **Tue Nov 24, 2020 4:45 pm**

Bronto, that’s just what I did. I’m now retired but I haven’t touched my 401-k/IRA money yet. In addition to a modest pension I have, we live off investment sales and maturing bonds we have in non-retirement investment accounts. I manage my gains I realize (i.e which investments I sell) to keep me in a lower tax bracket.

Posted: **Wed Nov 25, 2020 8:59 am**

Steve of phpBB wrote: ↑Tue Nov 24, 2020 4:03 pm
A_B wrote: ↑Tue Nov 24, 2020 3:59 pm
Steve of phpBB wrote: ↑Tue Nov 24, 2020 3:55 pm Tax implications though.

I have no idea what they are, but I’ll bet there are some.
Yeah I suppose any interest gained may be taxable in the same year since you aren't putting it into a Roth or something similar because you want it accessible. Basically does the potential interest put you into another tax bracket?
I think if you have an investment account, the return isn’t taxed until you cash it out.

But I think the issue isn’t necessarily the tax bracket, but rather if and when you pay taxes, you’re no longer getting a return on that amount. I’d have to chart it out to see if that really matters though.

I'll obviously be paying taxes on the money that I'm currently not paying taxes on, but I think that would be worth it to have accessible before the age of 55 or whatever it is these days. And then I wouldn't pay taxes on that base sum obviously when I cash out of it.

(and to be clear ... I have no designs on touching this money. I just don't want it locked up)

sancarlos wrote: ↑Tue Nov 24, 2020 4:45 pm Bronto, that’s just what I did. I’m now retired but I haven’t touched my 401-k/IRA money yet. In addition to a modest pension I have, we live off investment sales and maturing bonds we have in non-retirement investment accounts. I manage my gains I realize (i.e which investments I sell) to keep me in a lower tax bracket.

yeah, i think this is what I want to get in position to do. we're going to probably get into the real estate game ourselves at some point given the prices around here + we have rental properties that my family has. so it's inevitable anyway and this way we can start to build some equity into places ourselves.

Posted: **Wed Nov 25, 2020 9:22 am**

Brontoburglar wrote: ↑Wed Nov 25, 2020 8:59 amI'll obviously be paying taxes on the money that I'm currently not paying taxes on, but I think that would be worth it to have accessible before the age of 55 or whatever it is these days.

Holy shit! I had no idea I could start retire and start hitting my 401k at 55. I’m 55 now.

(It was probably better that I didn’t know that.)

Posted: **Wed Nov 25, 2020 9:23 am**

sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level

Posted: **Wed Nov 25, 2020 10:09 am**

Brontoburglar wrote: ↑Wed Nov 25, 2020 9:23 am sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level

I was gonna correct him before you did. Part of my retirement plan is to have basically just enough money to coast from age 50 to 59.5 until I can start tapping those accounts, then tapping Social Security at age 67. If all goes well, will mostly just be taking yearly returns (approx 4 percent of balance) to live on from retirement accounts

Posted: **Wed Nov 25, 2020 10:10 am**

I think we're similar in age and I'm not, at all, expecting social security to still be around.

Posted: **Wed Nov 25, 2020 10:33 am**

brian wrote: ↑Wed Nov 25, 2020 10:09 am
Brontoburglar wrote: ↑Wed Nov 25, 2020 9:23 am sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level
I was gonna correct him before you did. Part of my retirement plan is to have basically just enough money to coast from age 50 to 59.5 until I can start tapping those accounts, then tapping Social Security at age 67. If all goes well, will mostly just be taking yearly returns (approx 4 percent of balance) to live on from retirement accounts

How does that go with being an ex-pat from here on out? Do you still get SSI assuming you maintain citizenship?

Posted: **Wed Nov 25, 2020 10:49 am**

BSF21 wrote: ↑Wed Nov 25, 2020 10:33 am
brian wrote: ↑Wed Nov 25, 2020 10:09 am
Brontoburglar wrote: ↑Wed Nov 25, 2020 9:23 am sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level
I was gonna correct him before you did. Part of my retirement plan is to have basically just enough money to coast from age 50 to 59.5 until I can start tapping those accounts, then tapping Social Security at age 67. If all goes well, will mostly just be taking yearly returns (approx 4 percent of balance) to live on from retirement accounts
How does that go with being an ex-pat from here on out? Do you still get SSI assuming you maintain citizenship?

Yeah, it's based on how long you paid in and you're entitled to it no matter where you live. And like Mr. D said I expect it's probably going to be only a portion of what we would have gotten at full benefits, but even at 50 percent of benefits it will still probably be enough when we're only living on about $2500 a month.

Posted: **Wed Nov 25, 2020 10:51 am**

brian wrote: ↑Wed Nov 25, 2020 10:49 am
BSF21 wrote: ↑Wed Nov 25, 2020 10:33 am
brian wrote: ↑Wed Nov 25, 2020 10:09 am
Brontoburglar wrote: ↑Wed Nov 25, 2020 9:23 am sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level
I was gonna correct him before you did. Part of my retirement plan is to have basically just enough money to coast from age 50 to 59.5 until I can start tapping those accounts, then tapping Social Security at age 67. If all goes well, will mostly just be taking yearly returns (approx 4 percent of balance) to live on from retirement accounts
How does that go with being an ex-pat from here on out? Do you still get SSI assuming you maintain citizenship?
Yeah, it's based on how long you paid in and you're entitled to it no matter where you live. And like Mr. D said I expect it's probably going to be only a portion of what we would have gotten at full benefits, but even at 50 percent of benefits it will still probably be enough when we're only living on about $2500 a month.

Been debating with friends and family on when to start taking SS. The idea that it may not be there after a certain point does enter into one's calculation. if I was sure it would be secure for my entire life, I'd probably wait until I'm 67. But, I turn 62 next year, and I think I'll start taking it as a birthday present.

Posted: **Wed Nov 25, 2020 10:55 am**

sancarlos wrote: ↑Wed Nov 25, 2020 10:51 am
brian wrote: ↑Wed Nov 25, 2020 10:49 am
BSF21 wrote: ↑Wed Nov 25, 2020 10:33 am
brian wrote: ↑Wed Nov 25, 2020 10:09 am
Brontoburglar wrote: ↑Wed Nov 25, 2020 9:23 am sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level
I was gonna correct him before you did. Part of my retirement plan is to have basically just enough money to coast from age 50 to 59.5 until I can start tapping those accounts, then tapping Social Security at age 67. If all goes well, will mostly just be taking yearly returns (approx 4 percent of balance) to live on from retirement accounts
How does that go with being an ex-pat from here on out? Do you still get SSI assuming you maintain citizenship?
Yeah, it's based on how long you paid in and you're entitled to it no matter where you live. And like Mr. D said I expect it's probably going to be only a portion of what we would have gotten at full benefits, but even at 50 percent of benefits it will still probably be enough when we're only living on about $2500 a month.
Been debating with friends and family on when to start taking SS. The idea that it may not be there after a certain point does enter into one's calculation. if I was sure it would be secure for my entire life, I'd probably wait until I'm 67. But, I turn 62 next year, and I think I'll start taking it as a birthday present.

My mom got exactly two SS payments before she passed and she waited a bit to take it because she had some other pension stuff and no mortgage so she lived pretty lean anyway. I'd say start taking it as soon as you can!

Posted: **Wed Nov 25, 2020 12:49 pm**

BSF21 wrote: ↑Wed Nov 25, 2020 10:33 am
brian wrote: ↑Wed Nov 25, 2020 10:09 am
Brontoburglar wrote: ↑Wed Nov 25, 2020 9:23 am sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level
I was gonna correct him before you did. Part of my retirement plan is to have basically just enough money to coast from age 50 to 59.5 until I can start tapping those accounts, then tapping Social Security at age 67. If all goes well, will mostly just be taking yearly returns (approx 4 percent of balance) to live on from retirement accounts
How does that go with being an ex-pat from here on out? Do you still get SSI assuming you maintain citizenship?

Yeah - my mother in law gets SS payments regularly. The exchange rate helps her a great deal.

Posted: **Wed Nov 25, 2020 5:16 pm**

Pruitt wrote: ↑Wed Nov 25, 2020 12:49 pm
BSF21 wrote: ↑Wed Nov 25, 2020 10:33 am
brian wrote: ↑Wed Nov 25, 2020 10:09 am
Brontoburglar wrote: ↑Wed Nov 25, 2020 9:23 am sorry, it's 59.5! I should have looked that up and regret that I raised your excitement level
I was gonna correct him before you did. Part of my retirement plan is to have basically just enough money to coast from age 50 to 59.5 until I can start tapping those accounts, then tapping Social Security at age 67. If all goes well, will mostly just be taking yearly returns (approx 4 percent of balance) to live on from retirement accounts
How does that go with being an ex-pat from here on out? Do you still get SSI assuming you maintain citizenship?
Yeah - my mother in law gets SS payments regularly. The exchange rate helps her a great deal.

Talk about your evil mothers in law!

The Swamp

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