Retirement... (i.e. what are you going to be after you've grown up)

Haus

Haus

I am Big Balls!
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Noodleface said:
Wife's been pushing for a financial advisor to save for retirement, but in my opinion it's a waste of money at our point in life.

My plan:
Keep debts down - right now just a mortgage and 1 car. No CC debt.
Max 401k contributions every year
Max Roth IRA contributions for both of us ($15k total), invest in S&P500 or other strong index funds
Profit

Am I being shortsighted here? Should we be doing more than the above?

I think this is our last year we can do a Roth IRA and might have to move to a backdoor Roth next year
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I have recently engaged the services of a financial advisor, but also because I have a specific need that I want someone experienced in navigating to assist with in order to minimize costs to me.

In my case I had a windfall from a company I worked at which produced a very sizable pile of that company's stock. To the tune of 60% of my asset worth being that one company's stock. I want to diversify, but also I want to minimize/contain the tax hit of selling the stock to diversify. So I wanted an expert to get me some Autistic MinMaxer DPS levels of planning on how to do it. When I engaged them I was up front about that. Outside it I have a decently diversified set of investments (which might need a little, but not much, balancing). So I told them they essentially had one job, figure it out.

So far they've put together some decent plans for it. I'll still end up giving onto Caesar what is Caesar's and all... But at least I wont give them more than absolutely required.
 
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Lanx

Lanx

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Quevy said:
yeah, japan sucks for that. They tax 401k income and and all retirement structures. Their inheritance tax rules are also insane. It's mostly an issue if you become a permanent resident. If you don't get the permanent residency, then you're fine. They can't touch your overseas assets. I'm coming on 5 years in Japan. After I reach that mark, they can look at all my overseas stuff, and grab a piece of any assets over $200k (with the current exchange rate) that my parents will leave me. I'm really hoping they change the laws. It's just another thing that's driving down their birth rates.
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i kinda gave up thinking about living in japan it's either some revolving yearly visa for the wealthy, a 6month digital nomad, or work visa lulz, fuck that toyota kaizen bullshit
 
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Quevy

Quevy

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Lanx said:
i kinda gave up thinking about living in japan it's either some revolving yearly visa for the wealthy, a 6month digital nomad, or work visa lulz, fuck that toyota kaizen bullshit
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Yeah, I don't know how people tolerate working in Japan. It's very socialistic. You can be a super performer or a lazy bum and still end up in the same place.
 
Cad

Sheriff Cad

scientia potentia est
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You guys who hate where you live, do you not have or make friends? Do you not have family? I’d leave Texas in a heartbeat for better weather but seeing as how just about every person I know and love in the world lives here I don’t see how that’s supposed to work. Saving a little money is important but what does the living standard matter if you have to abandon your social network?
 
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Quevy

Quevy

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Cad said:
You guys who hate where you live, do you not have or make friends? Do you not have family? I’d leave Texas in a heartbeat for better weather but seeing as how just about every person I know and love in the world lives here I don’t see how that’s supposed to work. Saving a little money is important but what does the living standard matter if you have to abandon your social network?
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Chicago has gone full retard. If my company wasn't headquartered here and I didn't have family here, I would never come back.
 
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