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Question about EXTREME early retirement
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Date: July 28th, 2012 7:24 PM Author: Transparent massive ticket booth 35 yrs old single male. 300-350k nyc V100 Of Counsel. Have no debt. 250k trad 401k, 50k in Roth401k/RothIRA (pre LS work), and 50k liquid savings. So 350k net worth. How much do I need to retire on 6k a month post tax? Right now I'm getting styled on by 40% tax rate, but if I saved enough to live off investments Id only pay 15% tax, right? That seems like a way better deal, and I'm wondering if there is any way I can pull it off. (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200436) |
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Date: July 28th, 2012 7:24 PM Author: pale godawful chad space lol. obama wants to start taxing capital gains at 25% or maybe even ordinary income rates. so much for that plan little breh. (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200439) |
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Date: July 28th, 2012 7:25 PM Author: Transparent massive ticket booth You serious? Why would he wan to penalize people investing in the market during a shaky economic recovery? That makes no sense. (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200445) |
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Date: July 28th, 2012 7:28 PM Author: pale godawful chad space he's a stupid shitlib pushing the class warfare meme because he has absolutely no accomplishments. (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200461) |
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Date: July 28th, 2012 7:28 PM Author: mauve orchestra pit electric furnace Obamas merika (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200466) |
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Date: July 28th, 2012 7:24 PM Author: amethyst step-uncle's house round eye Capital gains can EASILY go up to 25-35%. This 15% thing is new under Bush. (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200441) |
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Date: July 28th, 2012 7:25 PM Author: pale godawful chad space why was bush coddling this millionaire? (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200442) |
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Date: July 28th, 2012 7:25 PM Author: Free-loading mint gas station newt You only need about 5 times as much money. (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200447) |
Date: July 28th, 2012 7:31 PM Author: fiercely-loyal theatre 1. get ~$1.5 million 2. invest in tax-free municipal bonds 3. produce ~60-70k per year
NOTES: 1. as an individual investor, you will get RAPED by transaction costs, so you're not buying bonds to trade. you're buying to hold to maturity 2. there is NO fear of default if you invest in bonds backed by large municipalities and do even a little research 3. pay attention to call provisions and in-state tax status ("tax-free" munis are federally tax-exempt but not always in-state tax-exempt)
EDIT: above poasters are right, if you are out there chasing dividends, you'll get fucked when the dividend tax rate changes. it will be much harder for congress to fuck with the muni tax exemption, although they try periodically, and even if they did, the bonds you were already holding would skyrocket in value |
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Date: July 28th, 2012 7:32 PM Author: pale godawful chad space i thought tax free municipal bonds were flame (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200484) |
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Date: July 28th, 2012 7:36 PM Author: fiercely-loyal theatre no bro for rich assholes they can be highly cr.
one issue is the market is not as liquid as equities, so you pay through the ass to some sleaze broker for any bond you want to buy |
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Date: July 28th, 2012 7:38 PM Author: pale godawful chad space so do i need to go through a broker to find these things or can i try to find them on some online brokerage site like scottrade? (http://www.autoadmit.com/thread.php?thread_id=2007563&forum_id=2#21200508) |
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Date: July 28th, 2012 7:41 PM Author: fiercely-loyal theatre i've only used fidelity, which has a pretty robust tool for searching through their inventory. i haven't looked in a long time, but don't expect to pay the $8 trade or whatever like you do for equities
EDIT: also you should find out what the tax rules are for premium and discount. i think there's some rule about how you can amortize the premium, but IDK |