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Post by Deleted on Nov 4, 2021 16:39:04 GMT -5
I do a rough % system too. Mine is something like 10% charity, 30% fun (usually trips), 30% home improvement - figuring there is a slight return on some of them and focusing on those that will improve our life, and 30% savings. Yes, percentages help. I pretty much decided to loosen up the purse strings this week while DS and family were here. I'd do one or two of these over a visit but this time: Two restaurant meals so far for 6 people, with a "splurge" one to come on Saturday for DS' birthday Way too many bath bombs at $6/each A trip to the Crayola store for painting supplies A visit to the Aquarium Plenty of food, of course. So far I think I've spent 1/10 of 1% of Dad's legacy.
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Lizard Queen
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Post by Lizard Queen on Nov 4, 2021 16:45:26 GMT -5
What are your goals? Do you want to RE, or to leave your empire to your kids, or live it up a little now? (Did you see the ibonds thread?) Who knows. DH is 5 years older and says he wants to retire by 60. Not sure if I will want to them or not, but no would like the option. That said, since he’ll be able to withdraw from his 529 at that age, we’d be fine. I want to leave some money to my kids, but also fully intend to enjoy retirement and want to continue to travel as long as we’re able. I haven’t seen the ibonds thread - I’ll go take a look. If I recall correctly, you're over my FIRE level already, and nearly to my DH's number. I think you/your DH could probably wrap it up sooner than you think, if you so choose. So, yeah, that means more Roth/taxable accounts. I like the idea of the ibonds, too, at nearing retirement time (maybe 5 years out.) I haven't gotten any myself yet, though.
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tskeeter
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Post by tskeeter on Nov 4, 2021 22:15:16 GMT -5
That would be my nightmare. 😂🤣😉 DH jokes about getting an RV or camper, and I tell him over my dead body. I’d much rather fly than drive, and definitely prefer a hotel to a camper (or camping). We are probably going to do Yellowstone and Tetons this summer as that’s the other NPs at the top of DS’s wish list. Haha, I see. I camped at a couple NP's with no accommodations nearby, but I do remember a hotel or something at the grand canyon. (Not all campers are roughing it. My FIL had two different ultra deluxe ones--fancier than my house. Just saying. ;-) El Tovar Lodge at the Grand Canyon is one of the great examples of National Parks architecture.
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minnesotapaintlady
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Post by minnesotapaintlady on Nov 5, 2021 7:33:55 GMT -5
OK, you know what I would do if I were in your financial position? ( I can't say 100%, but sorely tempted to. ) Quit, buy a camper, and take the kids to see all the national parks. That would be my nightmare. 😂🤣😉 DH jokes about getting an RV or camper, and I tell him over my dead body. I’d much rather fly than drive, and definitely prefer a hotel to a camper (or camping). We are probably going to do Yellowstone and Tetons this summer as that’s the other NPs at the top of DS’s wish list. If you want to do Yellowstone this summer and don't camp you'd better start looking to book a room in the park now. It's a long drive to stay outside of the park and drive in and the lodges inside the park get booked really early. It opened for Summer of 2022 in May of this year.
Otherwise, if you're flexible about dates you can keep checking constantly about a month before you want to go and hope for cancellations.
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teen persuasion
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Post by teen persuasion on Nov 5, 2021 9:01:19 GMT -5
The other piece is that I probably need to start an after-tax investing account. I have almost nothing in after tax, and it seems like maybe that is overdue? I also have the option (not with this money, but money in the future in general from my job) to do after-tax investing in my 401k account. Is that something I should consider? Yes, if you've already exhausted other tax advantaged places to save money, putting some of this windfall in a taxable account makes sense. About the after-tax account in your 401k - does it have all the necessary parts to do a mega backdoor Roth? That would be better than dumping future excess $ in taxable, because it would bypass the tax drag on dividends/CG each year. It would also shift your balances to include MORE Roth.
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