Thank you for explaining that just my whole life is a red flag. Can I ask how much you put in monthly with one for your variable universal life policies? The financial advisor was recommending I put in 700 dollars a month into a whole life which seemed absolutely insane. When I did the math by the time I reach retirement age it showed crappy returns as you stated.

Yes, that is what I am thinking. I think it is 100% time to talk to a Vanguard rep. Husband is very indecisive so we have been spinning our wheels and now its time to get going with this.

That's inspiration! I would like to hear more about your budget. Trying to do the same but I'm nowhere close.

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We generally live off of my $4500 a month and sometimes dip $1000 or so into his earnings.

I’d have both of you max out your 401ks. Everything is on sale right now! Plus see if either of your employers offers an HSA. That’s another $7500 tax free. Back door Roth as well. Check out an ally savings account or a cd if you feel attached to the $710k.

> And I like the idea of 401k just being 'done' for the year

It's 99% psychologically and 1% financially advantageous to be "done" early…it sure is fun. :-)

With this additional info, if I were in your shoes, I'd use the bonus to max early without a second thought. My bonus was a bonus bonus (one-off) so I'll most likely go back to spread out next year and the only drawback that's even crossed my mind is that I need to remember my paychecks will be lower in January.

Honestly...we're heading into a recession. I'd be wary of making moves depending on your role and how valuable it is to the company especially at the end of Q4. So many new hires are getting let go. I would stay and sprinkle in to your direct manager a head hunter is offering xyz is there anything you can do to match then get it in writing. If I left now...in my field we're the 3-7 in line to be let go after recruiters and sales.

So taking tips from my boss...I've made myself invaluable to the company, leadership and then deliver stellar results. I could leave for a 25% increase in my salary but where else can I successfully procrastinate and no one check me. 😅 Sanity and peace with decent pay is a dream.

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The $6,000 is for direct contributions, there's no limit on the amount to roll over. If you have a 403b after leaving an employer, you can keep it there (if >$5,000, otherwise your old company can force a cash-out to transfer), roll it to your own IRA, or transfer it over into your new work's plan if they allow it.

So if you had $10,000 in a 403b, you can keep it, roll it to an IRA, or if your new job allows move it to them. The money stays pretax, there's no tax added to your 1040, and no penalties. A small wrinkle if the transfer is done via paper check, but if that happens just ask us... within 60 days of getting the check.

The “spirt of the law” is that you can take advantage of specific benefits in exchange for specific restrictions. Taking advantage of the benefits without any of the accompanying restrictions is the opposite of the spirit.

Stock traders don’t generally move money back and forth between checking and brokerage, he’s nothing special.

I’m so annoyed now

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The $710k is in a savings account. The $100k in a 401k.

While I definitely feel for the people in HCOL areas, I think at the end of the day there is a point where math is going to say you can't be living there, However, if you do want to live there, you are either going to have to make more money or be content with making some sacrifices in your investing goals/lifestyle.

Well, you need to figure that out since that’s your target/goal you’re trying to solve for

What is your monthly spend now?

How much and when will you take social security?

Google historical mortgage rates. USA facts have a great chart. Also, there are costs to closing after 2 years.

I tend to prefer salaried to hourly. There's a lot of fuckery that can go on with hourly positions if they ever hit financial straights where you could find your "salary" reduced by 25%. Bonuses and overtime aren't guaranteed. Depending on the type of job, it can also cause problems if you need to put in a little extra time to fix a fuckup you did - there are times I've been salaried and really thankful I didn't have to explain exactly what I was doing hour to hour.

I would be a bit concerned about taking a promotion at a similar pay to a lower position. I would assume the promotion means more work. It will also be that much harder to make more money in the future - since there is one less rung on the ladder to climb up. The other place might give you the ability to work your way up. Also, you threatened to leave to get the promotion - if this was done eagerly, it could show you were valued... but if it was begrudgingly, you might not be in good standing anymore - so read the room. I would question either way why this position wasn't made available earlier to you - you know, before you thought about leaving.

In the end though, I think it comes down to what you think of the job. After all, if you like the people or work style or job or company more - you are probably going to be more successful at the job - and that will translate to more money down the road.

Thank you!

... what?

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Look at the prime directive in the right hand bar, it will tell you what to do the with the money.

You don't really give us any info about income vs expenditures so can't comment on how well your are doing. If your savings rate is 20%+, you probably are going to be ok presuming your expenditures are not ridiculously high. But again, without knowing specifics we can't say.

Why not put your info into a retirement calculator, and then figure out what you could live off with using the 4% withdrawal rule (use 3% if you want to be conservative).

It still has copays and does not cover things like ankle braces and covid tests at the pharmacy.