Anyone here NOT maxing out their 401Ks or IRAs

[disneysteve]

They probably won't use age, but our former credit issues as reasons to deny credit. I wouldn't blame them because we did **** up big time before we found Dave Ramsey. But it still worries me, even though our credit has really turned around and the last derogatory should fall off in 2022.

They won't use (or even know about) any negative credit info from your past if it no longer appears on your credit report. If the last black mark goes away next year and you now have a clean record, that's all that matters.

[Jluke]

I have heard of retired people having a hard time getting a mortgage if they are unable to show sufficient income.

they may have a net worth of a million but lenders want to see income.

as read on bogleheads over the years.

[disneysteve]

I have heard of retired people having a hard time getting a mortgage if they are unable to show sufficient income.

they may have a net worth of a million but lenders want to see income.

I don't know how all of these folks get their loans. I'm guessing they put down substantial down payments and the mortgages are relatively small compared to the price of the homes. That probably helps a lot. I would think a lender would be much more likely to lend you 200K when you're putting down 600K than vice versa.

[srblanco7]

I'm embarrassed to admit how much retirement "napkin math" I've done in the past 2-3 months. I've burned through many, many napkins.

Similarly - lots of spreadsheet tinkering. Slowly convincing myself that ER is real, while we stockpile a cash cushion and set ourselves up for ER. What we have not done is track our spending - likely the next item for us to check off our list.

[disneysteve]

Similarly - lots of spreadsheet tinkering. Slowly convincing myself that ER is real, while we stockpile a cash cushion and set ourselves up for ER. What we have not done is track our spending - likely the next item for us to check off our list.

I'm curious what numbers you're putting into your spreadsheet if you don't yet have your spending figures. That's really the number that needs to come first. Or do you have a general number and just want to break it down more?

[srblanco7]

I'm curious what numbers you're putting into your spreadsheet if you don't yet have your spending figures. That's really the number that needs to come first. Or do you have a general number and just want to break it down more?

The spreadsheet is more focused on modeling accounts & withdrawal strategies to manage taxes and future RMDs. I've always just had an investment portfolio target number and should be able to safely accommodate how we've historically lived and spent. As I contemplate moving up our ER date, I feel the need to get a better handle on our spend as part of the model.

[terri77]

I max both 401k & IRA and have done so for many years. Next year I will add and max an HSA.

[LivingAlmostLarge]

The spreadsheet is more focused on modeling accounts & withdrawal strategies to manage taxes and future RMDs. I've always just had an investment portfolio target number and should be able to safely accommodate how we've historically lived and spent. As I contemplate moving up our ER date, I feel the need to get a better handle on our spend as part of the model.

.
want to share your spreadsheet? I love looking at people's stuff. Not your numbers just the spreadsheet