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I’m a big fan of my brokerage account, I’m funneling all of my bonuses and extra cash at the end of the month into mine with a blend of total market and dividend focus (VYM/HDEF). Dividends are close to providing half of a survival budget now and can fully cover our taxes, insurance and utilities. It also provides a big slush fund for emergencies. If I was going to pay off a house I’d create a sinking fund to put the funds into until I had enough for a lump sum payoff. Ignoring a recast, paying down a mortgage doesn’t change the monthly payment but does reduce the amount of cash you have available to make the payments in an emergency. I aggressively paid down a 2.5% mortgage from 2020-2023 and half regret it now, I would be in a better place if I would have invested all of that cash and then paid off the mortgage when I had enough.
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True but going from ITOT to VTI is probably not. I got caught up in a wash sale from a spinoff where Fidelity sold a partial share at the spin and then I bought more shares to get an even lot. Luckily it was small money so it didn’t matter in the end. Tracking same stock wash sales is pretty straightforward, I’m curious if the brokerages have a cross reference table to identify “significantly similar” funds, such as ITOT and VTI.
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What do you mean? You can write off $100k in gains with $100k in losses for a net $0 capital gain tax. Am I missing something more than basic gain and loss taxes?
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For everyone that is going to TLH just remember not to buy the same or a “significantly similar” security for at least 30 days or you will create a wash sale and nullify your loss.
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My mom and stepdad got married when I was 8, he had two boys a few years older. They did their estate planning a few years ago and set up a trust for each of us, the trust are set to lock at the death of either of them. Hopefully that prevents any of the horror stories of a new spouse taking it all but I guess the survivor could empty the trust and give it away.
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Jason Isbell, Sturgill Simpson, Chris Stapleton, and Other Good Stuff
Archer replied to Seasick Sailor's topic in Music
They sold 180,000 tickets for 4 shows, absolutely unbelievable. Stillwater may never recover. -
Do you FIRE? Financial Independence, Retire Early
Archer replied to UTGrad98's topic in Business and Markets
@Not a cat did a good breakdown. Here is an old pre TCJA discussion on Bogleheads on the topic, it revolved around efficient use of taxable and Roth accounts and a smart use of tax loss harvesting. It’s even easier now with the inflation in tax brackets and changes in the laws as mentioned above. https://www.bogleheads.org/forum/viewtopic.php?t=87471&sid=2e26392f07ba9615c597bb23afc4ae15 -
I’m using Ibonds as a leg in my cash equivalent to maintain purchasing power. They take a while to build up a decent amount but I’ll hit one year of expenses with my purchase in January, 2025. I plan to keep buying them as long as I can and as the amount continues to grows I’ll probably start reducing my cash holdings.
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Do you FIRE? Financial Independence, Retire Early
Archer replied to UTGrad98's topic in Business and Markets
Kind of depends on how you want to look at it. The Boglehead guys will include taxes for purposes of estimating retirement readiness since you will have to pay taxes out of your savings as well. That’s probably the most complete approach. The challenge is figuring out what your tax liability will be in the future, the most conservative method and the correct one if everything is in a 401k/IRA is to just calculate off of current income tax rates. It gets a little more complicated if you’re using a blend of cash, taxable accounts, and tax deferred accounts. You can get close to $100,000 a year tax free if you work it just right with a blend of accounts. -
Do you FIRE? Financial Independence, Retire Early
Archer replied to UTGrad98's topic in Business and Markets
An easy way to talk about this without using real numbers is in relation to yearly spend as X, i.e. if you spend $100,000 a year and have $2.5M you’re at 25X. Using the X discussion lets everyone scale up and down for their situation. -
CHK is going back to 2006 and going all in on gas and getting out of liquids. If your company hasn’t stated the same I wouldn’t be as concerned.
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Do you FIRE? Financial Independence, Retire Early
Archer replied to UTGrad98's topic in Business and Markets
This is pretty much me minus the kids . Other than the early mornings the job isn’t too bad so I’ll try to get another 5-10 years out of it and really get a good safety cushion built up. I have started spending a little more freely with a good nest egg in place.
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