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Viewing profile - pleb

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pleb
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Joined: Sat Jun 09, 2007 5:44 am
Last visited: Sun Oct 28, 2007 9:46 am
Total posts: 15
[0.02% of all posts / 0.00 posts per day]
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Most active forum: Fiscal Fitness Journals
[ 11 Posts / 73.33% of user’s posts ]
Most active topic: Pleb's Journey to Financial Independence
[ 11 Posts / 73.33% of user’s posts ]

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pleb Posts

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 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

 Post subject: October 1st Wallchart
Posted: Mon Oct 01, 2007 6:15 pm 

Replies: 21
Views: 16742


http://i198.photobucket.com/albums/aa107/anonymouspleb/wallchart-october-2007.png September was a good month. For the first time since I started tracking, I hit my expenses goal of spending less than $1666 per month, despite spending $200 on a wedding gift, $100 on trail running shoes, and $80 on a...

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

 Post subject: September 1st Wallchart
Posted: Sat Sep 15, 2007 5:15 am 

Replies: 21
Views: 16742


http://i198.photobucket.com/albums/aa107/anonymouspleb/wallchart-september-2007.png I'm pretty disappointed with how August went. I thought I would hit an all-time low in expenses without my $330 car payment and $85 student loan payment. Instead, I stayed about where I've been. The big unusual expe...

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

Posted: Sun Aug 05, 2007 8:51 am 

Replies: 21
Views: 16742


This doesn’t' seem as complicated as you guys are making it out to be. I do understand that you need to be careful to follow the rules and file all appropriate paperwork, but the 72(t) rules seem to be quite flexible and generous. Let's do an example. Suppose for the next 11 years I save an inflatio...

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

Posted: Sat Aug 04, 2007 2:15 pm 

Replies: 21
Views: 16742


Are you including retirement funds into you investment return time-frame to reach your cost of living? I couldn' tell but it looked like it. Yes, definitely. Otherwise my projections would be forever. Check this out: IRS regulation 72(t) allows an individual to withdraw "substantially equal pe...

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

Posted: Fri Aug 03, 2007 4:04 pm 

Replies: 21
Views: 16742


consultantjournal wrote:
What do you do for a living?


I'm a software engineer.

Baker wrote:
Great job. I wish I could free up that much money.


Thanks. I'm single and live with two other people. Except for an unnecessarily nice car, I basically still live like a college student.

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

 Post subject: Year in Review
Posted: Thu Aug 02, 2007 4:18 pm 

Replies: 21
Views: 16742


I've been working for exactly one year now. In that time, I paid off my debt of $28k ($17k car loan, $11k student loans). I also saved $23k ($18.7k in retirement accounts, $4.3k in cash). In total I increased my net worth $51k, from about -$28k to $23k. I averaged $4.25k/month of net worth increase....

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

 Post subject: August 1st Wallchart
Posted: Thu Aug 02, 2007 4:13 pm 

Replies: 21
Views: 16742


http://i198.photobucket.com/albums/aa107/anonymouspleb/wallchart-2007-august.png I'm debt free! I paid off my student loans and car this month. I will likely never have non-mortgage debt again. I wasn't sure how to track the $14k for my car and $11k for my loans on my wallchart. If I put them as ex...

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

Posted: Sat Jul 28, 2007 5:48 am 

Replies: 21
Views: 16742


Thank you for the information about withholdings tinyhands, Baker, and MossySF. It's nice to know that this is penalty is definitely something to keep in mind, but not something that will affect me this year. The optimizer in me wonders if I can abuse safe harbor #1. Last year I probably paid about ...

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

 Post subject: June 1st Wallchart
Posted: Thu Jul 26, 2007 5:16 pm 

Replies: 21
Views: 16742


http://i198.photobucket.com/albums/aa107/anonymouspleb/wallchart-3month.png I track my finances and generate my wallcharts using Google Spreadsheets, which is basically like Excel, except it can be updated from any computer. I love it. After tracking my expenses for the first three months, the bigg...

 Forum: Fiscal Fitness Journals   Topic: Pleb's Journey to Financial Independence

Posted: Thu Jul 26, 2007 5:14 pm 

Replies: 21
Views: 16742


Hi, I'm pleb. Until a year ago, I was completely ignorant of money. My parents shielded me from it, and while I was at school my scholarship amounted to "we will take everything you have or accumulate, and give you the rest (plus some loans)". I graduated with a bachelor's and master's fro...

 Forum: Personal Finance   Topic: Is Financial Independence/YMOYL Still Possible?

Posted: Sat Jun 09, 2007 7:25 pm 

Replies: 12
Views: 7339


How do they define financial independence? You're financially independent according to YMOYL when your monthly income from your investments is higher than your monthly expenses, and you can project this to continue for the rest of your life. After this point you no longer have any reason to earn mo...

 Forum: Personal Finance   Topic: Is a Pre-Tax 401K the Same as a Post-Tax Roth?

Posted: Sat Jun 09, 2007 7:03 pm 

Replies: 9
Views: 6896


That assumes you have enough disposable cash left over to be able to afford to max out the roth. Not to meant the Roth has a contribution limit of 5K, I believe, a year. So that doesn't exactly work out. For young people in 2007, the Roth IRA max is $4k and the Roth 401k max is $15.5k. You can have...

 Forum: Personal Finance   Topic: Is a Pre-Tax 401K the Same as a Post-Tax Roth?

Posted: Sat Jun 09, 2007 6:28 am 

Replies: 9
Views: 6896


Say you're in the 33% tax bracket and can either put $2000 post-tax in the Roth or $3000 pre-tax in traditional. In this case, you're right, it's pretty much a wash, depending entirely on whether your tax bracket will be higher or lower later. However, if you can afford to max your retirement saving...

 Forum: Personal Finance   Topic: The Best Bits of Financial Wisdom from all over

Posted: Sat Jun 09, 2007 5:49 am 

Replies: 19
Views: 12901


Rich Dad, Poor Dad : Spend your money on things that earn you money. Your Money or Your Life : Early retirement is not unreasonable. Track and aggressively minimize expenses. A Random Walk Down Wallstreet : Invest regularly in a diversified set of index funds and hold. The Millionaire Next Door : D...
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