Search found 78 matches

by supernova72
Wed Jun 29, 2016 11:20 am
Forum: Personal Finance (Not Investing)
Topic: HELOC for emergency and when you would use it
Replies: 38
Views: 4932

Re: HELOC for emergency and when you would use it

I did this exact thing about a year ago and glad I did it. My FN advisor suggested I establish a HELOC since 95% of my retirement funds are tied up in a 401K and a pension plan. I "shot for the moon" on the request ($200K) and got approved for $150K. I needed to tap into it recently for a ...
by supernova72
Tue Jun 21, 2016 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: One more mortgage payoff thread...
Replies: 47
Views: 6181

Re: One more mortgage payoff thread...

Been debating this for a long time and now it seems more urgent than prior. I was recently downsized (link below) so potentially "retiring" and having a mortgage does not seem like a great plan cash flow wise. Decisions, decisions! https://www.bogleheads.org/forum/viewtopic.php?f=2&t=1...
by supernova72
Wed Jun 08, 2016 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Congratulations! With those financials, you are all set. I left Megacorp about four years ago, and now realize I most likely won't be able to get back in since I am in about the same age group as you. One thing that was made clear is if I take the lump sum severance (vs continued income) I wave my ...
by supernova72
Tue Jun 07, 2016 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Indefinite Period of Travel - What to do with $400k? [Home]
Replies: 17
Views: 2777

Re: Indefinite Period of Travel - What to do with $400k?

My 2 cents on where to go visit: Have friends doing the Thailand thing. One full-time, one 6 months a year. I've been there twice and maybe you have too. A beer is $2. AU will be a very different experience cost wise (higher of course). If you are a single male it can be overwhelming the attention a...
by supernova72
Tue Jun 07, 2016 11:40 am
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

While not as old, my father-in-law had a stroke which eventually resulted in early retirement, He never adapted, was never joyful, and died a few years later. My father was forced to retire early due to layoffs (aerospace sector, IT manager) and has absolutely loved it. My mother still worked for a...
by supernova72
Tue Jun 07, 2016 11:39 am
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Spitfire wrote:Are you a SPEEA employee?
Not SPEEA (Engineering) so not represented no. IT is non-union.
by supernova72
Tue Jun 07, 2016 11:38 am
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Yea, I realize running is hard on the body but I have not yet found an alternative that provides the same intensity in the same timeframe. One of the changes in retirement is your perspective on time changes and you end up being in less of a hurry. I have never been a runner but since I have retire...
by supernova72
Tue Jun 07, 2016 11:37 am
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Congrats on landing safely after the layoff accident ( unless you think it is actually a good thing :-) ). I hope and wish to be in the position of not worrying about having a job and only working because I want to. I do not have a pension but am thinking of looking for a job with one. My question ...
by supernova72
Mon Jun 06, 2016 9:49 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Consulting when you don't absolutely need the money is great (from what I've observed, not me yet). You take the jobs you want, tell the ones you don't want that you are too busy and it is a world of difference from working in megacorp. It might take a year or two to build up but then you'd have in...
by supernova72
Mon Jun 06, 2016 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Silly, minor thing re your workout routine. If you run for cardio, I would consider walking for cardio instead. I pounded away as a runner for eighteen years, then the shin splints started, I got more aches and pains ... and I switched to power walking. (I tried bicycling but after coming close to ...
by supernova72
Mon Jun 06, 2016 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Congrats on landing safely after the layoff accident ( unless you think it is actually a good thing :-) ). I hope and wish to be in the position of not worrying about having a job and only working because I want to. I do not have a pension but am thinking of looking for a job with one. My question ...
by supernova72
Mon Jun 06, 2016 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Hikes_With_Dogs wrote:From what I can tell, congrats are in order!!!
Thanks for the positive words!! I know I could have saved more and wish I were debt free but then again I also wanted to live a bit too. :happy
by supernova72
Mon Jun 06, 2016 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Sorry to hear about your surplussing. My only tip is to sign up for unemployment when your severance is complete. Some people skip this step. I would probably take the summer off and look for another job in the fall. I wouldn't want to end my career on a layoff. But being able to ER and in a hot jo...
by supernova72
Mon Jun 06, 2016 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Question about your pension: Can you delay taking it to let it grow? Or is the figure you gave fixed? You might want to explore that and see if/how a growing pension would factor into your decisions. Best of luck. My old company is doing a lot of this right now. Three former colleagues lost their j...
by supernova72
Mon Jun 06, 2016 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

I know it's disorienting and kind of maddening to be laid off. Been there. But you'll shake it off quickly I promise. Sure you can keep working, but you're a millionaire plus you have a $3100 a month guaranteed income, plus you'll probably have additional income from social security in another deca...
by supernova72
Mon Jun 06, 2016 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Sorry to hear about your surplussing. My only tip is to sign up for unemployment when your severance is complete. Some people skip this step. I would probably take the summer off and look for another job in the fall. I wouldn't want to end my career on a layoff. But being able to ER and in a hot jo...
by supernova72
Mon Jun 06, 2016 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

NMJack wrote:Megacorp sucks. Been there twice.... :(

Hang in there and be thankful you made it out financially alive. :sharebeer
Thank you. I'm trying not to focus on the layoff part and what opportunities are ahead of me yes.
by supernova72
Mon Jun 06, 2016 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

I get retiree medical and can either do a low deductible plan at $46 a month and $30 co-pays OR a high deductibable plan with $1300 deductible and no co-pays. Still figuring out which is best. Will have about $4K in my HSA by the time I 'retire'. Even though it feels weird it's been one heck of a r...
by supernova72
Mon Jun 06, 2016 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

Re: After 30 yrs at Megacorp my IT job was surplussed...

Thanks---I should have included I can withdraw from 401K without 10% penalty. I wasn't planning on drawing so early so that is why I was considering some PT consulting work---or winning the lottery :)
by supernova72
Mon Jun 06, 2016 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: After 30 yrs at Megacorp my IT job was surplussed...
Replies: 52
Views: 9724

After 30 yrs at Megacorp my IT job was surplussed...

Somewhat anticipated but still internalizing what my next steps are. I work in an aerospace industry in an IT organization. Megacorp (160,000 employees). IT is being reduced and after 30 yrs I got my notice yesterday. Planned on working two years. I get a 6 month severance pkg. It feels weird since ...
by supernova72
Wed May 11, 2016 11:58 am
Forum: Personal Consumer Issues
Topic: One Week "Sabbatical"
Replies: 43
Views: 5856

Re: One Week "Sabbatical"

Have you ever been to Seattle WA? I live here and fishing is very popular and July is mid 70's with ZERO humidity. One of the better places to taste local craft beer as well. There are litterally dozens of breweries within a 10M radius. http://www.bing.com/images/search?q=seattle+fishing&FORM=HD...
by supernova72
Mon May 02, 2016 9:30 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Preferred
Replies: 53
Views: 9408

Re: Chase Sapphire Preferred

I've had this card about 4 months and love it. Besides what's been stated in previous posts about 50K miles etc I like the fact that almost all dining is 2X points. I eat out a lot (I know) and over 4 months have earned almost 75K points. I'm spending about 3K a month just to be fair about how I'm e...
by supernova72
Thu Apr 28, 2016 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Pension buy outs ???
Replies: 34
Views: 5008

Re: Pension buy outs ???

I asked a similar question and got some very insightful replies on the actual calculation. My situation is a bit different but you can see this post towards the end explaining the calculation for me. I had no idea there are three "tiers" used on the interest rate(s). https://www.bogleheads...
by supernova72
Tue Mar 08, 2016 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC paydown vs. 1st Mortgage paydown. Which first?
Replies: 5
Views: 494

Re: HELOC paydown vs. 1st Mortgage paydown. Which first?

Not that it's a huge deal but you could probably refinance both into a 15 year mortgage and cut your interest sate to 3% or less. Just keep paying what your currently paying and your payoff date would happen even faster. You could also look into a 10 year refinance if terms are worth it. Good point...
by supernova72
Tue Mar 08, 2016 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC paydown vs. 1st Mortgage paydown. Which first?
Replies: 5
Views: 494

Re: HELOC paydown vs. 1st Mortgage paydown. Which first?

HELOC first, for two reasons: 1. They're currently the same rate, but the HELOC can go up and the mortgage cannot. 2. Flexibility. If you pay down the HELOC, you can draw again if you need emergency cash. Paying down the mortgage doesn't change your cash flow until you refi or pay it off. Thanks fo...
by supernova72
Tue Mar 08, 2016 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: HELOC paydown vs. 1st Mortgage paydown. Which first?
Replies: 5
Views: 494

HELOC paydown vs. 1st Mortgage paydown. Which first?

Hello, I'm torn on which loan to paydown first between a recent HELOC (used car purchase) and my first mortgage. The scoop: Mortgage: 4%, 15 yrs, $207K (refied in July of 2011) balance is now $128K Home value $500K Been paying approx $600 a month extra principle the last three years (pre car purchas...
by supernova72
Sat Mar 05, 2016 2:52 pm
Forum: Investing - Theory, News & General
Topic: classic cars vrs S&P 500 1986-2016
Replies: 12
Views: 2016

Re: classic cars vrs S&P 500 1986-2016

I've been guilt of justifying keeping a 1972 Nova as the only vehicle I have that is gaining value right now :D I paid $600 in 1989 for it. Numbers matching 350 V-8 car. To be fair, I stopped keeping track of the $$ I put into it about 10 yrs ago ($10.5K). However the fun factor of cruising has valu...
by supernova72
Sun Feb 21, 2016 2:56 pm
Forum: Personal Investments
Topic: Anyone own KHC (Kraft Heinz) stock?
Replies: 10
Views: 4259

Re: Anyone own KHC (Kraft Heinz) stock?

I have a few shares and went through the KHC KRFT merger. Checked my TD Ameritrade tax statement and yes it included. Basically my 1099-B says the gain is my shares X $16.50 for that one time payout. All is taxable and it's short term capital gain. Hope this helps. Comment says "merger". ...
by supernova72
Sat Feb 20, 2016 1:06 pm
Forum: Personal Investments
Topic: Anyone own KHC (Kraft Heinz) stock?
Replies: 10
Views: 4259

Re: Anyone own KHC (Kraft Heinz) stock?

I have a few shares and went through the KHC KRFT merger. Checked my TD Ameritrade tax statement and yes it included. Basically my 1099-B says the gain is my shares X $16.50 for that one time payout. All is taxable and it's short term capital gain. Hope this helps. Comment says "merger". T...
by supernova72
Mon Feb 15, 2016 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: Decision! was: Can I retire in 2017?
Replies: 53
Views: 10371

Re: Can I retire in 2017?

Similar stats as you but live in a higher cost area (Seattle WA) and still have a mortgage ($155K). Age 55 pension $37K annual (April 1st 2016 start). This plan in frozen but will earn some interest credits $700K in 401K (70/30 mix) Retiree Medical (no premium but $1300 deductible). SS at 62 will be...
by supernova72
Sun Feb 14, 2016 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: What is your decline in Net Worth as of today?
Replies: 96
Views: 14713

Re: What is your decline in Net Worth as of today?

2016 YTD is down about 6.5% (401K). 70/30 mix. This excludes future (fingers crossed) DB pension income which will be 50% of my retirement income.
by supernova72
Sun Feb 14, 2016 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension lump sum option today...

Supernova72 here. Wow that is fantastic and thanks so much for that. The only part I didn't follow is how you got to the annuity rate of 191.4? I might have missed that in your note above. My true DOB is 10/31/1960. So I guess I would really be 55 5/12 as of 4/1/16. My bad on that. Amazing analysis...
by supernova72
Sat Feb 13, 2016 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension lump sum option today...

Supernova72 , with the additional information that you sent via PM I was able to come within $119 of your lump sum benefit of $472,207.21 ; here's a brief summary of the calculation : Benefit Commencement Date (BCD) : 4/1/2016 Your Age on BCD : 55 7/12 The plan's stability period for lump sum deter...
by supernova72
Thu Feb 11, 2016 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension lump sum option today...

Additionally, heritage company pension benefits features, which were unique to various pension plans prior to being rolled into the PVP, are being extended to all active PVP participants. This extension is only applicable for benefits accrued Jan. 1, 2014, through Dec. 31, 2015. As a result, you ma...
by supernova72
Thu Feb 11, 2016 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension lump sum option today...

The adoption by Boeing of the PVP back in '99 shows up on an internet search but not so with whatever happened at the beginning of 2014 ; does anyone have any information ? Dave , Nova, Programmer ???? What’s happening to my pension? A1. First and foremost, you will keep all pension benefits you ea...
by supernova72
Wed Feb 10, 2016 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension lump sum option today...

Senior moment here. Does "quit early/take 55: lump sum is decent option" mean one would leave pre-55? Yes, if you leave 1 day before 55 you are hugely penalized, unless it is due to layoff, if layoff you can leave i believe 7 years early, and not have the penalties in the annuitization fo...
by supernova72
Wed Feb 10, 2016 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension lump sum option today...

In the scenarios that where calculated above, there was both a Pre2014 benefit and a post 2013 benefit. They both are converted from credits into an annuity. I don't have access to a pre 1999 heritage account. The difference between pre2014 and post2013 is how they get converted to an annuity. pre2...
by supernova72
Tue Feb 09, 2016 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension lump sum option today...

My benefit statement refers to the Pension Value Plan and only shows one number (with a caveat that it includes the "heritage benefit"). Although I have 23 years with the company, I did leave for a while and returned to the mother ship in 2001. OP here. Meant to respond earlier to this. I...
by supernova72
Tue Feb 09, 2016 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

Just for clarity there was a buyout offer for ex employees in 2014. I believe it used a 6% discount rate in calculating the NPV of the annuity, from a packet that i saw. Those ex employees where given one chance to take the buyout. the offer to current employees is slightly different they have to w...
by supernova72
Tue Feb 09, 2016 11:43 am
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

Did a Boeing pension search - seems like they established a CB plan, i.e. the PVP in '99 to consolidate the various plans that came under their umbrella through mergers and acquisitions - and so OP should have an A + B situation like I outlined in my earlier post ; the following link gives a brief ...
by supernova72
Mon Feb 08, 2016 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

My pension would be $3,077 based on an April 1st 2016 retirement date (non-COLA). The pension lump sum option offered is $472K Based on a lifetime annuity value of $630K (immediateannuity.com) this looks to be a 25% haircut. So even though they need to use IRS actuarial tables and IRS "417E&qu...
by supernova72
Mon Feb 08, 2016 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

OP here. Don't know who our Megacorp uses for consulting. I'm sensing some on this thread think I'm making up the numbers which I"m not. I'm going to post one output from the tool so you can see what we see. The 2nd section is a new addition explaining some of the elements behind the "new...
by supernova72
Mon Feb 08, 2016 11:43 am
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

Please read this: https://www.bogleheads.org/wiki/Lump_sum_vs_pension It is a road map on how to decide. (I wrote it, or at least the original version.) And then, consider the point: It is irrelevant how Boeing arrived at what to offer you. You don't have to recalculate it or check their math. Ther...
by supernova72
Mon Feb 08, 2016 11:31 am
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

Leeraar wrote:A Google search on

boeing pension buyout

gives some very interesting results.

L.
OP here. There have been two in the past but for "former" employees. My subject line should have called this an "option" vs. buyout. Oops.
by supernova72
Mon Feb 08, 2016 11:24 am
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

Just for clarity there was a buyout offer for ex employees in 2014. I believe it used a 6% discount rate in calculating the NPV of the annuity, from a packet that i saw. Those ex employees where given one chance to take the buyout. the offer to current employees is slightly different they have to w...
by supernova72
Sun Feb 07, 2016 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

I sent you a PM with some additional information you might find useful. sorry for the confusion, about hybrid/cash/traditional, the plan is ridiculously complex based on mergers and acquisitions, etc. i suppose you'd call it a "hybrid" employee's do not receive annual benefit statements. ...
by supernova72
Sat Feb 06, 2016 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

OP, did you dig out your benefit statement from last year showing your account balance in the CB plan ? This is a traditional DB pension plan. No account balance. As stated above by soon to be ex programmer we can see our estimated monthly income stream with different options and as of 2/4/2016 we ...
by supernova72
Sat Feb 06, 2016 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

Soon2BXProgrammer wrote:Can you please go into the tool and estimate the pension at your 65th birthday, i believe it will give you a different lump sum number?
OP here. Good question. That monthly lifetime pension estimate at 65 is $4,005 (vs. $3,077 at 55---actually April 1st 2106 so 55 yrs 5 months).
by supernova72
Fri Feb 05, 2016 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

Not sure what step I skipped now. On my last attempt I tried using those three tiers of IRS interest rates and discount it back. BUT I was not sure how to take into account the age 65 thing. Following those steps above not sure where the mortality fits in? I actually discounted what I would get at 6...
by supernova72
Fri Feb 05, 2016 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: My Megacorp offered a pension lump sum option today...
Replies: 87
Views: 13558

Re: My Megacorp offered a pension buyout today...

OP, you say the plan was frozen at the end of 2015 ; what was your frozen benefit on the freeze date ? While this doesn't answer your question to calculate the value. There are no new contributions after the end of 2015. However, the plan will still accrue interest until the person turns 65 (unless...