2 suggestions for a Merrill client:
(1) Find out who the top producer in the local Merrill office is and talk to him. He's too old to become your permanent FA but he should be full of ideas the young guys won't have.
(2) Maybe pay off your mortgage? I paid mine off with company stock from my qualified bonus plan (tax break). Freed up a lot of cash flow in retirement.
FWIW when I retired (8 years ago) I gave my Merrill FA half and I kept half, and my reason wasn't BC he could invest better than I could, it was so my kids would have someone to keep them in line once I'm gone.

62strat said:

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harge57 said:

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Kenneth_2003 said:

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NOT your ROTH IRA. There are ways to go away over the limits within your 401k.

Doing so within the 401k, would allow penalty free distribution should the need arise as long as it's with your last employer when you retire/semi-retired at 55. As opposed to taking the 10% penalty on distributions taken prior to 59.5.

Google "Rule of 55."

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Id fully fund roth if not already. You can withdraw contributions penalty free at any time.

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only after 5 years right?

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No, contributions can be pulled at any time.

txaggie_08 said:

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62strat said:

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harge57 said:

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Kenneth_2003 said:

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NOT your ROTH IRA. There are ways to go away over the limits within your 401k.

Doing so within the 401k, would allow penalty free distribution should the need arise as long as it's with your last employer when you retire/semi-retired at 55. As opposed to taking the 10% penalty on distributions taken prior to 59.5.

Google "Rule of 55."

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Id fully fund roth if not already. You can withdraw contributions penalty free at any time.

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only after 5 years right?

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No, contributions can be pulled at any time.

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Only direct contributions can be pulled anytime. If you back door Roth that is a conversion, not a direct contribution. So it has to season for 5 years.

Seems like harge57 was talking about Roth IRA contributions, so my advice still applies

I bleed maroon said:

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VaterAg said:

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LMCane said:

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Ducks4brkfast said:

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it's 50 grand. just buy the market and don't think about it for thirty years.

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I am 55 years old

I'm not going to be around in 30 years

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Why not? Unless you are facing severe health issues now, it's not unreasonable for a current 55 year old to make it to 85.

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He's planning to die at age 77.4 years old, like every other American male. DUH!

https://texags.com/forums/16/topics/3609281/1

You can lead a troll to the internet, but you can't make him think.

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Nice, I must have missed his earlier post. Still, 55 to 77 is plenty of time for an investment in VOO!

OldArmyCT said:

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2 suggestions for a Merrill client:
(1) Find out who the top producer in the local Merrill office is and talk to him. He's too old to become your permanent FA but he should be full of ideas the young guys won't have.
(2) Maybe pay off your mortgage? I paid mine off with company stock from my qualified bonus plan (tax break). Freed up a lot of cash flow in retirement.
FWIW when I retired (8 years ago) I gave my Merrill FA half and I kept half, and my reason wasn't BC he could invest better than I could, it was so my kids would have someone to keep them in line once I'm gone.

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good advice-

I don't own a home.

talking with experts in real estate they are convinced it is better to just rent in different places of the world than own-

and the financial advantage is not really there after down payment / closing costs / taxes / HOA / HVAC / repairs / renting it out management fees / hurricane insurance etc etc

Round trip business class flight to somewhere in Europe for a long summer holiday and a Vacheron Constantin Overseas Dual Time so I could easily track the time back home.

OP what are you doing for healthcare? You might be well served to park this in a separate account and just pay your health insurance premiums out of that account for a few years.

Do you not want a Lambo?

WWR

LMCane said:

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buy Quantum?

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If you are 55, you will not see a commericially viable quantum computer in your lifetime.

Bitcoin will be the currency of AI and your children and grandchildren. That's where I'd put my money.

The USD is the currency of our generation. Do you want to invest in that?

MGS said:

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LMCane said:

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buy Quantum?

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If you are 55, you will not see a commericially viable quantum computer in your lifetime.

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I bought QTUM ETF 7/25. It's up 60% since then.(edit: only 60%)

No, no one wants to invest in USD. But you use your USD to invest in companies. I sure wouldn't gamble my life savings on BTC.

agreed

txaggie_08 said:

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No, no one wants to invest in USD. But you use your USD to invest in companies. I sure wouldn't gamble my life savings on BTC.

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I bought 1 BTC during Covid at $6k. Haven't bought any since. Should have sold it at $110k or whatever but I like holding some just for the hell of it.

Fireman said:

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Bitcoin will be the currency of AI and your children and grandchildren. That's where I'd put my money.

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No so sure about that. Since we are talking about quantum computing, that has the potential to completely blow up Bitcoin and crypto.

BYC gonna fall off the map here soon.

VTI and go about your day

Pichael Thompson said:

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I Am A Critic said:

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MFBarnes finance threads

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For realz


How have people not figured this out yet

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I can't believe more haven't caught on. He's now active on the history and military board promoting his new civil war book. **** is wild!!!

BiggiesLX said:

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Pichael Thompson said:

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I Am A Critic said:

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MFBarnes finance threads

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For realz


How have people not figured this out yet

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I can't believe more haven't caught on. He's now active on the history and military board promoting his new civil war book. **** is wild!!!

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That's because I have written a book on the Civil War you jerk: Presidents on the Battlefield

let's compare our actual real resumes shall we? whose sock puppet are you?

I will go first then you can post your background for everyone to analyze.

permabull said:

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It's 3% of your investable assets... You are way overthinking it.

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Right? Wouldn't OP just put the money 1) with his other money or 2) play with it?

Or is this thread just to brag about savings + windfall?

Furlock Bones said:

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I Am A Critic said:

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MFBarnes finance threads

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No sheet. this is ridiculous. why does anyone engage with him?

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Because we are Aggies and too forgiving or forgetful unless one has full blown TDS or BAS

Whats rank is a 1Lt?? Do you mean 1st Lt, the appropriate abbreviation?

Naveronski said:

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permabull said:

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It's 3% of your investable assets... You are way overthinking it.

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Right? Wouldn't OP just put the money 1) with his other money or 2) play with it?

Or is this thread just to brag about savings + windfall?

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Yeah is 3% even a windfall? Before the turn around in the market today most people in a balanced or stock aggressive portfolio were down 3% from 10 days ago