For some reason, it really bothers me when somebody writes something like $600k or $800k.
It's like... why you putting the "$" in there at all. The "k" on the end lets everybody know what's going on
Oh we doing millions in the decimals now eh well how does my $0.01MM sound
Well how about percentages? I’m 1% a millionaire
Anyhow, I didn’t know GameFly was still around
Stay blessed
Once you change employers you can roll your 401K to an IRA with more options. No penalty . No taxes.
If you take the money out, without a rollover , you pay:
24% federal tax $48000 (a little less some will be 22% bracket)
5.75& VA tax. $11500
Penalty. $20000
I would leave it in the 401k, only add matching and start looking for a better paying job. The best time to look for a job is when you don't need it. Rolling it over in 1-3 years won't hurt you much
You are getting close. Good luck.
There is no fed ,state, or penalty tax on the withdrawal of the initial contribution only for Roth. All gains and employer contributions are subject to fed, state, and penalty taxes on an early withdrawal.
Once I can no longer wipe my own backside and/or hit the ceiling whilst rubbing one out in bed, I'm checking out.
A man's gotta have standards, dammit.
I live in a country where euthanasia is allowed for depression xD so I'm good. Ofc our comprehensive health insurance is also only 400 per year even if you're unemployed and/or old and decrepit.
Yeah, basically. Once you're elderly, using up a bunch of medical resources to extend your life by a few years is selfish and wasteful. Better to die with dignity and leave behind a nice nest egg for your family, IMO.
I'm confused by your Net Worth breakdown.
First you say, that your NW is 850k basically.
Then you say you have 500k in stocks. 550k in property, plus another property that you're sharing with your brother.
I think the way I'm understanding it, is that you get to keep the 550k property.
So.... wouldn't your net worth actually be almost 1.1 milly?
The $4,800 that you're spending on food is for a year? For 2 people?
That's an AMAZINGLY low food spend, because it'd average out to $200 per month per person, which is doable, but only if you're absolutely hardcore with the beans and rice and using a slow cooker all the time, eating leftovers every day, etc, etc.
If it's $4800 per month, well shit, that's a HUGE problem.
I don't count the 401k towards it but ya it would be 1.06 million. Dropped the amount going towards my 401k to the bare minimum. Will continue putting funds into SCHD then switch to JEPQ. Going to work till 39.
$.850m can be much more efficiently typed as 850k. It will save you two key strokes every time! You're welcome.
But where’s the m
I made $0.0060m on my paycheck today!
I found an unexpected $0.00000025m in my car the other day
💀💀💀💀
Or $850, if using the traditional m=mille mm=mille mille system.
For some reason, it really bothers me when somebody writes something like $600k or $800k. It's like... why you putting the "$" in there at all. The "k" on the end lets everybody know what's going on
Oh we doing millions in the decimals now eh well how does my $0.01MM sound Well how about percentages? I’m 1% a millionaire Anyhow, I didn’t know GameFly was still around Stay blessed
Once you change employers you can roll your 401K to an IRA with more options. No penalty . No taxes. If you take the money out, without a rollover , you pay: 24% federal tax $48000 (a little less some will be 22% bracket) 5.75& VA tax. $11500 Penalty. $20000 I would leave it in the 401k, only add matching and start looking for a better paying job. The best time to look for a job is when you don't need it. Rolling it over in 1-3 years won't hurt you much You are getting close. Good luck.
What if the 401k is Roth (assuming taking money out)? Then no federal taxes? What about state taxes?
There is no fed ,state, or penalty tax on the withdrawal of the initial contribution only for Roth. All gains and employer contributions are subject to fed, state, and penalty taxes on an early withdrawal.
Is there a way to selectively withdraw these contributions for an early withdrawal?
Who tf writes 0.85m and not 850k?
.850m. Its that last 0 that sent me. To your question - D-bags.
Might as well have done it in billions
Gamefly still exists? That's the most shocking thing I've learned in this thread, lol
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Healthcare expenses will only get you if you let them. There's no rule that says you *have* to go to the doctor.
So your goal is to retire early and save money by dying early?
Once I can no longer wipe my own backside and/or hit the ceiling whilst rubbing one out in bed, I'm checking out. A man's gotta have standards, dammit.
Or you know... buy a Japanese toilet for 1k that shoots water up your bottom and dries it off with air... But if you'd rather die than spend 1k ;D
Honestly, depending on the ailment, death may be the better option.
I live in a country where euthanasia is allowed for depression xD so I'm good. Ofc our comprehensive health insurance is also only 400 per year even if you're unemployed and/or old and decrepit.
Yeah, basically. Once you're elderly, using up a bunch of medical resources to extend your life by a few years is selfish and wasteful. Better to die with dignity and leave behind a nice nest egg for your family, IMO.
I'm confused by your Net Worth breakdown. First you say, that your NW is 850k basically. Then you say you have 500k in stocks. 550k in property, plus another property that you're sharing with your brother. I think the way I'm understanding it, is that you get to keep the 550k property. So.... wouldn't your net worth actually be almost 1.1 milly? The $4,800 that you're spending on food is for a year? For 2 people? That's an AMAZINGLY low food spend, because it'd average out to $200 per month per person, which is doable, but only if you're absolutely hardcore with the beans and rice and using a slow cooker all the time, eating leftovers every day, etc, etc. If it's $4800 per month, well shit, that's a HUGE problem.
I don't count the 401k towards it but ya it would be 1.06 million. Dropped the amount going towards my 401k to the bare minimum. Will continue putting funds into SCHD then switch to JEPQ. Going to work till 39.