Post: #201

I'm going to say this again in Caps.

THE REST OF THE STATE OF FLORIDA AVOIDS MIAMI LIKE THE PLAGUE.

Post: #202

Ha. Start a thread on good/bad by city on the travel section guarantee the debate will begin.

Would be useful for non Florida natives.

FYI: I thought miami was fine, the prices were stupid though. $50 cover wtf? Stupid.

Post: #203

That's another reason why its good that I rent, if Miami sucks I can pack up my shit and move around...

Daytona? Guy at work told me used to be white trash but slowly up and coming...

Post: #204

PM me if you're thinking about SW Florida.

Ft. Myers/Naples area.

Post: #205

Start a new thread this info will get lost in the weeds here

Post: #206

http://wallstcheatsheet.com/stocks/how-a...ml/?ref=YF

How Are Americans Saving for Retirement?

Post: #207

The above is not too surprising the Roth IRA is highly under rated (opinion) right now because as I mentioned earlier you can become liquid fast and pay lower taxes (personal income tax is at relative lows compared to 20 years ago).

Post: #208

Westcoast,

Why, if an individual is moving abroad from age 45-65, would he roll over his 401(k) to a Roth IRA?

In terms of liquidity- the plan I outlined is very liquid. You can withdraw from your 401(k) with a 10% penalty; which, coupled with his 10% income tax is still less in terms of tax rate than what he deferred the income at (35% ish).

It would not be a bad idea; however, to combine our plans and possibly roll over 1/2 of the 401(k) upon the first year of leaving the country (use the savings for first year).

This way, you could draw down your 401(k) for the first 5 or so years, then start grabbing the principle out of your roth.

Post: #209

There is no penalty for pulling out the principal, if you wait 5 years you can take it all out with 0% penalties. You can't touch the gains until later that would incur a 10% penalty.

As a personal example I have over $100K+ in retirement accounts, over 70%+ of that I can take out and put into my personal trading account (I have done this with about $40K already, and I leave the other account above 100K so I have no fees associated with it). So as of now I could actually pull out even more cash without penalties right now, but I am leaving the retirement account above the 100K marker.

You want to stagger your distributions based on income brackets and lower your tax bill. You keep the exact percentage of 401K money into a retirement account draw down on that only to the first tax rate then run the rest through a Roth.

Taking 10% hits is a bad move.

Post: #210

Delete

Post: #211

Damn! Vicious posts (but also funny). Just read the entire thread. I don't have a 401K, so I don't know how you retire on it.
My plan at this time: save much less than I make, invest in dividend stocks, master limited partnerships (the yields typically are better than stocks), possibly real estate (have not done yet).

Also, I plan to keep working/earning until I drop. My idea of hell is sitting on my ass all day doing nothing. Granted, this could change in the future, and as has been written in this thread, it's important to get to the point where you don't have to work for money's sake. But, by extending your earning years, you require much less of a $$$ number to actually retire. My two cents.

Post: #212

I'm def not retiring until AT least 70....Hopefully I can just slow down the hustle by then...

Post: #213

Not until 70??? That plan sounds pretty terrible man. Even most average Americans want to retire a little early. Why not shoot for more and retire early? Have you traveled much?

Post: #214

@Captain

1.07^30 = 7.61... Times 100K = 761K
1.03^30 = 2.43... Times 100K = 243K

Huge difference.

Post: #215

You retire early, you usually die early. Its good to stay active.

Post: #216

Why do you have to do nothing in "retirement".

When you think about retirement what you should mean is financial independence. You can work for fun, not to live.

Post: #217

Hedge funds are an out dated method of investing

http://www.thestreet.com/story/11931862/...-2013.html

Underperforming for years, generally speaking

Post: #218

There is so much shit you can do to stay active when retired. On this forum you are probably in a very very low % of people who actually want to work 65...let alone 70. Live your life in the way that makes you happy but consider the early retirement advice from these people which you have so much in common with.

I want to ask you Captain. How much traveling abroad have you done? For me it was life
changing. Changed my entire outlook on life with all the options.

Post: #219

Actually studies show working past 55 decreases life span. That's bs that retiring early shortens life. The study was done by Boeing. The Japanese also did a similar study. Makes sense. Most people hate work. As you get older work stress is harder on body. Everyone in my fAmily has retired before 55. Very healthy.

Post: #220

I think its important to stay active, I had a 70 year old man beat me in a 5K race last week....

I don't want to be slaving away in the same office, but I will definately be doing something after 70. Writing, training, sales, etc etc. Something with flexible hours...

Everybody on this forum talks about retiring early, but if your net worth isn't climbing pretty fast its not reality.

Post: #221

what happened to good old live fast die young?

Post: #222

Live fast die young is a mantra for those unwilling to build themselves into the person they want to become.

Don't give up what you want the most, for what you want in the moment.

Post: #223

(05-25-2013 12:39 PM)Bill Wrote:  what happened to good old live fast die young?

Only the good die young, so that make's me young and Bad.

Post: #224

(05-25-2013 12:21 PM)TheCaptainPower Wrote:  I think its important to stay active, I had a 70 year old man beat me in a 5K race last week....

I don't want to be slaving away in the same office, but I will definately be doing something after 70. Writing, training, sales, etc etc. Something with flexible hours...

Everybody on this forum talks about retiring early, but if your net worth isn't climbing pretty fast its not reality. Wrong! It's not YOUR reality. It could easily be theirs.

You have dodged my question about traveling twice now in this thread so I assume that means you have not been anywhere and quite possibly aren't even open to the idea. Am I correct? Some pretty great minds find travel experience to be more important than college. Don't think its just about going out and fucking off. When you see a city look like it has grown 50% in a 5 year span and people suddenly wearing nicer clothes and becoming richer you start to see real opportunity. Read Adventure Capitalist and you can see the difference 20 years makes in a booming city through the eyes of Jim Rogers.

After this I won't bring travel up again but I try to get it through due to the positive effect it has had on my life. Getting orders for a 3 year tour in the UK was probably the most important and positive thing to happen to me in my adult life. If it weren't for that I wouldn't have 75% the great experiences I have. I would have no known options for retirement either... outside the 401k plan of course. Look what Rooshs' first trip to South America did for his life.

You mentioned that you wanted to write a book a year for a total of 30+ books. What the hell will you write about after book 5.. what about book 10???? It will be the same old shit. What I am saying is that without some new experiences to write about and to help you grow as a person there is no way you will have decent material for a book on a yearly basis. Nothing that would ever gain any significant following anyway.

Many have said that it's easy to stay active while retired but your still not opening your mind. All you're thinking of is flexible jobs doing the same shit. Thats great though... looking at flexible hours is the first step but he rabbit hole goes much deeper my friend. There are so many more ideas that will keep you much more active, healthy, and stress free than having flexibility in sales or whatever.

Honestly, You have started a ton of threads about your own life, what you're doing, and how you can improve things but you never seem very open to any new ideas. This thread is 9 pages now and you seem to have the exact same mindset on page 9 as you did on post 1. Not trying to be a dick, but this is just something I've noticed in your threads.

Post: #225

Can't say your not living like an American though... Go to school, get good grades, go to college, start a career, max out your 401k so you can retire at 65. Thats what they trained us to do.