Tundras live: Dumb Dad Jokes, Incorrect Opinions, and Relationship Advice.

All my shit is paid off and I make good money, but I'm a cheap pessimist...so I figure by the time I get to $3M, I'll be dead or need $6M.

 

From what I've seen, your judgment on flavors is mediocre on a good day
Remember the tictac discussion, you let me down that day. Never forget

 

Says the dude getting a parking lot tune from a dude in flipflops with harbor freight tools.

 

Maybe worth it just for thr seat belt chime....

 

I don't think I'll ever hit $3M without some sort of major windfall. I might hit $1M by the time I retire in 25 - 30 years...

 

Mostly

 

I didn't know that, but I assumed it.. I've interjected a few comments into "premium" fuel conversations (roughly as stupid as the oil conversations) and a common response is: "This is how it really works because this is how the tuner guy said it works". Which means exactly dick to me.

 

I don't make good money and we're back in debt after blowing our wad on the new house build, etc.
BUT,.....if you handed me $500k right now, I would quit my job. And I'm only 50.
With that money, I could pay off all debt, build a shop and start a small business where I could make my own hours, do something I love and bring in as much income as I chose, depending on how much I was willing to work. I could easily make what I do now and have almost zero stress.
And I'd still have $3-400k left after paying off debt and buying what I need for a small business.
The problem is finding $500k laying around.

 

Maybe I should start a- So Ron can quit his job and live his best life- gofundme.

 

Not with an attitude like that you won't.

 

I like how you think...keeping you in debt is how they control you. Find a way to break free.

If I won Lotto tomorrow, I'd quit my job build a kick ass shop and just tinker.

 

Lol

I make good money but not enough to sock away $3M, at least not without sacrificing our quality of life along the way. I'm also not much of a stock investor, simple index funds are my game.

 

Usually those stipulations are based on a 'catch up'... So, in other words, if you weren't making max contributions over the course of your eligibility, then during the catch up period you can contribute up to double the normal amount. However, if you were making max contributions since from the beginning, then it probably wouldn't apply.

I was fortunate to be on a 457 instead of a traditional 401k, ROTH, etc....

So, for us if I remember right, normal max contribution was $17,500/yr.... For us, age wasn't the issue; 'catch up' occurred the last three years of work. So, let's say it's 2015, and it's my intention to retire at the beginning of 2019 (late January)... During 2017, 2018 and 2019 I can contribute a max of $35,000 each of those three years to 'catch-up'. Since it was all pre-tax going into the 457, I was able to take almost $35k pre-tax out of my final payout check (which included unused sick time, vacation, etc...) That's huge because normally guys are getting hammered on their separation checks, plus since most of us walk away w/all most a full year salary, plus earning a full pension for the remainder of the year we leave, we're showing almost double the income for that first year and paying taxes on that is not kind.

Sounds like there have been a ton of changes to reduce those tax breaks however, so that sucks for guys that are trying to plan their retirement. Budgeting out long term finances when you don't have the ability to just work some OT or call-out to pay for trips, upgrades or emergencies is definitely an adjustment.

 

@BMP

Pretty easy to figure out where all that lands, just search your specific situation (IE>>> 401k max contributions 2023 or 401k contribution catch up phase, etc...)

It's all in the rules, etc. that are provided by IRS

 

@LarryDangerfield

 

I think the tooner just turned up his fake V8 sounds.

 

Why are you refusing to share Response 3 w/us???

 

@Fotnot ‘s Tundra ended up in my neck of the woods. That dude does not wash it like he should.

 

That's the "Use your search button dude" response but he wanted us to search for it.

 

Mine probably gets washed more often and with a better process.