Portfolio

[ken-do-nim]

(01-10-2024, 06:37 AM)rayray Wrote: A memory just popped in my head--I use to go to my buddy's house all the time--during 2008 out of the blue his one dog would growl at me, and everytime i had my back to her she would nip me in the ass, kind of hard!!

Anyways, I was diagnosed with cancer and went through those brutal treatments, eventually getting a clean bill of health--After going from 238 pounds down to 156 pounds or so, when I felt somewhat better I went over to my buddy's house, where his dog put her paws and head on my lap and started crying--she wouldn't leave my side. It was quite remarkable, she smelled, sensed the cancer and when the cancer was gone she was overwhelmed with joy. Never experienced something like that with an animal.

That is an AMAZING story.  I'm going to tell my daughter she will love it.  I'm so glad you overcame your cancer.  Phew!

[rayray]

I was going to work till 62 but told the wife I'll be retiring in 6 years at age 59, I turned 53 this month. The wife is 5 years younger than me, so she'll work a little longer so we don't lose two incomes at once, we'll ease our way into it!

[EricL]

(03-24-2024, 05:13 PM)rayray Wrote: I was going to work till 62 but told the wife I'll be retiring in 6 years at age 59, I turned 53 this month. The wife is 5 years younger than me, so she'll work a little longer so we don't lose two incomes at once, we'll ease our way into it!

That's awesome, congrats! I'm 45 now and it seems like such a long way to go yet. 

Hopefully, I can make it work to retire "young" as well. Good luck!

[ken-do-nim]

(03-24-2024, 09:37 PM)EricL Wrote:

(03-24-2024, 05:13 PM)rayray Wrote: I was going to work till 62 but told the wife I'll be retiring in 6 years at age 59, I turned 53 this month. The wife is 5 years younger than me, so she'll work a little longer so we don't lose two incomes at once, we'll ease our way into it!

That's awesome, congrats! I'm 45 now and it seems like such a long way to go yet. 

Hopefully, I can make it work to retire "young" as well. Good luck!

I'm 51 now, shooting for 55 to invoke the 401k "rule of 55", but we'll see.

[rayray]

(03-26-2024, 07:13 AM)ken-do-nim Wrote:

(03-24-2024, 09:37 PM)EricL Wrote:

(03-24-2024, 05:13 PM)rayray Wrote: I was going to work till 62 but told the wife I'll be retiring in 6 years at age 59, I turned 53 this month. The wife is 5 years younger than me, so she'll work a little longer so we don't lose two incomes at once, we'll ease our way into it!

That's awesome, congrats! I'm 45 now and it seems like such a long way to go yet. 

Hopefully, I can make it work to retire "young" as well. Good luck!

I'm 51 now, shooting for 55 to invoke the 401k "rule of 55", but we'll see.

I've also thought about the "Rule of 55" but I don't want to keep the money in my current kplan, and get myself into the 72t's. Plus, if I go that early I won't be able to do what I want and that's a major house remodel, getting our home to what we exactly want. But at 59, I'll be able to do that without an issue.

Get me to 59 and that's what I want.

[ken-do-nim]

(03-29-2024, 08:54 AM)rayray Wrote:

(03-26-2024, 07:13 AM)ken-do-nim Wrote:

(03-24-2024, 09:37 PM)EricL Wrote:

(03-24-2024, 05:13 PM)rayray Wrote: I was going to work till 62 but told the wife I'll be retiring in 6 years at age 59, I turned 53 this month. The wife is 5 years younger than me, so she'll work a little longer so we don't lose two incomes at once, we'll ease our way into it!

That's awesome, congrats! I'm 45 now and it seems like such a long way to go yet. 

Hopefully, I can make it work to retire "young" as well. Good luck!

I'm 51 now, shooting for 55 to invoke the 401k "rule of 55", but we'll see.

I've also thought about the "Rule of 55" but I don't want to keep the money in my current kplan, and get myself into the 72t's. Plus, if I go that early I won't be able to do what I want and that's a major house remodel, getting our home to what we exactly want. But at 59, I'll be able to do that without an issue.

Get me to 59 and that's what I want.

Major house remodel, that does sound like a fun project.  I have instituted a new rule to insure I never wipe out my portfolio; I call it the rule of 5%.  That is, I can't cash out more than 5% of the portfolio in any one year.  So if I think a house remodel will cost me $300K, then yes, I'd better have $6M in the port if I want to pay as a lump sum.  I'm mainly doing this because my girlfriend/hopefully wife by then wants a house on Cape Cod.  I could buy one now, but I wouldn't have much of a portfolio left.

I think this includes when I'm in the drawdown phase of my life.  There's the standard 4% rule, but I think 5% is fine.

[rayray]

(03-29-2024, 10:04 AM)ken-do-nim Wrote:

(03-29-2024, 08:54 AM)rayray Wrote:

(03-26-2024, 07:13 AM)ken-do-nim Wrote:

(03-24-2024, 09:37 PM)EricL Wrote:

(03-24-2024, 05:13 PM)rayray Wrote: I was going to work till 62 but told the wife I'll be retiring in 6 years at age 59, I turned 53 this month. The wife is 5 years younger than me, so she'll work a little longer so we don't lose two incomes at once, we'll ease our way into it!

That's awesome, congrats! I'm 45 now and it seems like such a long way to go yet. 

Hopefully, I can make it work to retire "young" as well. Good luck!

I'm 51 now, shooting for 55 to invoke the 401k "rule of 55", but we'll see.

I've also thought about the "Rule of 55" but I don't want to keep the money in my current kplan, and get myself into the 72t's. Plus, if I go that early I won't be able to do what I want and that's a major house remodel, getting our home to what we exactly want. But at 59, I'll be able to do that without an issue.

Get me to 59 and that's what I want.

Major house remodel, that does sound like a fun project.  I have instituted a new rule to insure I never wipe out my portfolio; I call it the rule of 5%.  That is, I can't cash out more than 5% of the portfolio in any one year.  So if I think a house remodel will cost me $300K, then yes, I'd better have $6M in the port if I want to pay as a lump sum.  I'm mainly doing this because my girlfriend/hopefully wife by then wants a house on Cape Cod.  I could buy one now, but I wouldn't have much of a portfolio left.

I think this includes when I'm in the drawdown phase of my life.  There's the standard 4% rule, but I think 5% is fine.

We're thinking along the same lines, depending on where the portfolio goes I'll be following the 4 to 5% withdrawal rule. The higher the portfolio the higher the withdrawals will be--in the beginning of retirement I'll do ROTH conversions the best I can--I'll most likely delay social security. I'll have to crunch the numbers to see if it'll be better to delay SS in order to convert as much money I can from tax deferred accounts to either a brokerage or ROTH.

I won't get to 6mil in 6 years, that would be a tough one. But I think 4 to 5mil will be realistic, if everything goes perfect maybe 5.2ish?? Of course, something horrible can happen and I can retire with half of what I have now, which would fall near the original goal that I set many years ago.

If we stay the house remodel would be substantial, but we'd have exactly what we want, minus a pool. If we move we won't do a house remodel. The thought of moving is a tough one, I've had family members retire and move to Florida or Arizona, a friend moved to Hawaii, you see them once or twice if lucky lol. I kind of like being near family, even if the biggest gatherings are at the holidays these days.

I think the only place the wife would move to in a heartbeat would be Palm Springs, California. Leaving family and life long friends, idk..that's a tough one and I'm not sure it's mentally healthy imho.

People use to retire and move to area's that made financial sense, Florida was cheap decades ago and that ain't the case today. I guess that's what happens when all these baby boomers have retired, most of them anyways lol. Florida, Arizona, Nevada, Texas, and the Carolina's have all become much more expensive as retirement destinations.

And I'm in a routine, I have all the things I want to do in retirment now. Wine making, homemade passata, gardening, the fruit tree's...I can't do that in Florida?? I'd have to start over.

[ken-do-nim]

I am pretty darn sure you will easily get to $6M in 6 years. The only thing holding you back may be your Tesla purchases. Otherwise, I believe from previous posts you are somewhere around $3M now, possibly $3.5M. I am going to wager that you have an average annual performance rate of 30% or higher, but let's be conservative and use 25%. Plugging into my handy dandy investment calculator $3M @ 25%/year gives $11.4M in 6 years. In fact, let me compute what the minimum average annual performance you'd need ... just 13%. If you are at $3.5M now, you only need to average 10%. And that's with no new money added.

For me, I have an autistic son living in the group home system who is 20 and a mother who is 78. Moving would entail coordinating with my ex-wife to bring my son along, and I don't want to abandon my aging mother. So staying in Mass is probably what's going to happen. But gosh, I went on a vacation to Estes Park in Colorado once and I love it there.

Hawaii is great as a vacation destination; I think it would get old as a permanent residence. When I took the flight from Boston to Hawaii, I spoke to the people next to me on the plane. They were from Hawaii, and coming to Boston for vacation. I asked why would you leave paradise to come to Boston? They kind of rolled their eyes

[rayray]

(04-04-2024, 12:21 PM)ken-do-nim Wrote: I am pretty darn sure you will easily get to $6M in 6 years.  The only thing holding you back may be your Tesla purchases.  Otherwise, I believe from previous posts you are somewhere around $3M now, possibly $3.5M.  I am going to wager that you have an average annual performance rate of 25%.  Plugging into my handy dandy investment calculator $3M @ 25%/year gives $11.4M in 6 years.  In fact, let me compute what the minimum average annual performance you'd need ... just 13%.  If you are at $3.5M now, you only need to average 10%.  And that's with no new money added.

For me, I have an autistic son living in the group home system who is 20 and a mother who is 78.  Moving would entail coordinating with my ex-wife to bring my son along, and I don't want to abandon my aging mother.  So staying in Mass is probably what's going to happen.  But gosh, I went on a vacation to Estes Park in Colorado once and I love it there.

Hawaii is great as a vacation destination; I think it would get old as a permanent residence.  When I took the flight from Boston to Hawaii, I spoke to the people next to me on the plane.  They were from Hawaii, and coming to Boston for vacation.  I asked why would you leave paradise to come to Boston?  They kind of rolled their eyes

My buddy who retired and moved to Hawaii told me people are miserable no matter where one goes lol.

Boston is one of my favorite cities, great culture, great food!

As far as portfolio, you have me a little higher but numbers are overall correct looking at the full net worth picture.

I have about 2.7mil in the market, with a 500k buyout package waiting in the background. If I retired today, we'd have over 3.1mil in the market. If we include all that and the equity in our home we'd be in and around 3.5mil in net assets as of today.

So maybe total net worth will be around 6mil in six years...as far as portfolio? IDK, I've been hit hard with some bad years here and there--I'm thinking 4 to 5mil porfolio, not counting home equity is a reasonable outcome in 6 years.