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Lion to myself

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  1. Or you could take $100k once and place it into a hybrid policy that will give you $400k in benefits. And then blow the other $300k on the grandkids while your alive or at the very least ensure that they get it when you pass. Not a knock on your strategy just trying to illustrate how Hybrid are a form of self funding and asset protection combined.
  2. 58 to 62 is probably the sweet spot for purchasing LTC insurance. Check out hybrid policies if you are considering self insuring (link below will give you the idea). In short your taking a portion of your money and putting into a hybrid policy of life insurance and Long Term Care insurance that will protect the rest of your nest egg. If you don’t use it it will go to your beneficiaries, if you have a LTC need it will provided a monthly benefit or if you decide you don’t want it anymore you can usually get your money back. https://www.kiplinger.com/article/retirement/t036-c032-s014
  3. Looks great! I like how they went up the walls several inches.
  4. If they don’t then I think you can make an argument that they should. But it would only be the interest earned on the cash reserve account which is going to be very minimal.
  5. This is an advisory account so he is acting as a fiduciary on this account but not necessarily every account you have with him. D House brings up an excellent question, is the 1.25% inclusive of the portfolio cost which is .53% or is in on top of that. Going with low cost option makes sense if your ready to go it alone especially if you only rely on the advisor for only asset management. Good advisors add a lot more value than just asset management, so you will need to decide if he is worth it.
  6. Simple IRAs are tied to an employer and you won’t be able to open one up just for yourself. Nothing wrong with going after tax if you need to build that up for withdrawals before 59 1/2. If eligible for the Roth still, then that could be a nice option. You can access contributions before 59 1/2.
  7. No. You will not have to execute the loans until you are ready to buy (seller accepts your offer). Your lender will want to know the source of the funds so most likely you will provide your 401k statements as proof of funds. Your approval will be contingent on carrying that out. As Dezbelief stated above, the next step would be to engage your lender and have this discussion.
  8. The downside is that you’re taking $100k out of the market. But this may still be your best option though. There are no tax implications for taking the loan or repaying no matter the year. You will owe interest even if you pay off early but you need to check with your 401k providers for the details on that. You will want to get Pre-Approved (not pre-qualified) for the new loan to make you a strong buyer. You will need to qualify for both payments if your intentions are to buy the new home before selling your current. Home Equity loan is another option instead of the retirement plan
  9. Equitable usually has high expenses, I’d leave them if you can. If you are no longer working for the institution that offered the plan you can roll it over to an IRA. If you are still working at said institution then explore other providers if that’s offered. If you are still working but over 59 1/2 you may be able to do an in-service rollover. Depends on the plans rules.
  10. For most people, insurance is a bell shaped curve. When you are really young you insurance need is low. As you age you begin to accumulate debts, wives, and children, your insurance need increases. Most like to pay off debts, fund goals and/or provided income replacement with insurance. Once the kids move out and the debts start to go down (and investments increase) then your insurance needs go down. Maybe give some thought to what you want the insurance to do for your loved ones and that will help guide you on coverage and when to decrease. Of course there are other reason lik
  11. I need to read up on his proposed ideas, I had read that we wanted to give tax credits instead of deductions. In regards to your question my guess is that Biden wants the benefit for a small group not the general population. But I agree with you that a change to IRA would make sense and be easier to adopt. How is a caregiver going to get into a 401k? Doesn’t make a lot of sense to me either. IRA limits are weak and should be raised. Half of America doesn’t have access to a employer sponsored plan. The government should make IRAs contributions closer to 401ks for those without plans.
  12. What a great use of technology! Congrats on the exhibition.
  13. If I was enrolling in this plan with the options you listed, I’d go: 70% VINIX 20% VIEIX 10% RERGX (AMERICAN EUROPACIFIC GROWTH) I added a little international in but if you want to stay all Domestic then 80/20 as D house suggested. If you want to keep COLUMBIA TRUST CONTRARIAN CORE FUND then you can substitute it for the VINIX entirely or a portion. But I usually go low cost so I’d stick with the vanguard funds personally.
  14. D House gave good advice. I was going to mention the VANGUARD EXTEND MARKET INDX FD (VIEIX) also as an area of opportunity. 20% to 40% into that fund will add mid and small cap exposure you are lacking.
  15. This describes his last couple of seasons with other injuries. You’d be smart to make back up plans.
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