A couple weeks ago I received a heartbreaking email similar to what's below. I chatted with the author via email a bit and we agreed to ask ESI Money readers for advice. He provided an updated, more-detailed explanation of his situation and I'm posting it below. Please read this and respond with your best suggestions for the author and his wife to consider. He'll be … [Read more...]
Help a Reader: Trying to Get to Early Retirement
The following is an email I received from a reader a couple months ago. It's a sad tale on many fronts, but also inspirational because of how much progress she's made. In fact, it's quite remarkable IMO. I had her adjust the story a bit and include more financials so she could get advice from the great readers here at ESI Money. So please read it completely and give her … [Read more...]
Help a Reader: Spending a Big Bonus
Here's an email I recently received from a reader: Dear ESI Money, I'm wondering if you and your readers can provide some advice on the best way to invest a large annual bonus. I moved several years ago into a sales production role in which a good portion of my compensation is paid in a lump sum once a year. I've had good fortune and have built my book of business up … [Read more...]
Help a Reader: Picking a Pension Option
Here's a question I received from a reader: My wife and I were starting to look at paperwork for her retirement from full time teaching. One of the options we need to decide is survivor rate. We looked at survivor rate in that there are 4 options. Here is a simplified breakdown. 0% survivor rate would mean she would get X amount a year in pension. For example … [Read more...]
Help a Reader: How to Retire with Plenty of Assets
Here's an email I received from a reader looking for some suggestions: From an early age, my wife and I were taught to save. So we paid ourselves first before anything else. By the time I met my wife to be we were both working for Johnson and Johnson. We maxed our 401k’s, deducted for savings bonds (remember those?) and company stock. We probably averaged close to 20% of … [Read more...]
Help a Reader: Investing and Real Estate
Here's an email I received from a reader looking for some suggestions: Hi! I am interested in advice on investing in mutual funds, index funds and real estate. Our goal is to be FI/RE by 50. Our ages are 34 (me) and 33 (husband) right now. Background Information (before raises in March)... My husband and I will be 100% debt free as of November 30th. We will be … [Read more...]
Help a Reader: Pension Buyout
Here's a question similar to the one about pension options but with different numbers, options, etc. A reader writes in: Similar to another reader I was offered a pension buyout. I retired a couple of years ago. My wife is retiring in February 2019. Lump sum pension buyout is $458,000 (roll over to an IRA so not to be taxed at 50% rate with penalty) or pre-tax payment … [Read more...]
Help a Reader: How to Make Up for Lost Time
Here's an email I recently received from a reader: I have been reading your emails. You see I always thought I had a good head on my shoulders and made good decisions but I am seeing now how wrong I was. You see I have not been thinking about the future and have not been making meaningful goals and now I am in serious trouble and don't have much time to fix it. I will be 50 … [Read more...]
Help a Reader: Pension Options
Here's another post where a reader is asking for your suggestions on how to handle a financial issue. Please read his summary and give your thoughts below... The question I have is about pension options. I have a corporate (Fortune 50 company) pension fully funded. I need to decide how I want to take payment once I do retire. Cash out upfront is $1M, payment for … [Read more...]
Help a Reader: Buying a Rental Unit in a College Town
Here's another email from a reader asking for some suggestions on a financial situation. Please read below and give him your thoughts... I've been thinking about purchasing a 3BR condo in my daughter's college town and renting it for the long term. The college is tight for their on campus housing slots and actually have to resort to a lottery for housing each year since … [Read more...]
