OT: Moving

[batman10023]

On 1/25/2024 at 6:42 PM, greenwichjetfan said:

Yea we’re right in the middle of all of it in WSR. 2 years ago it had a real suburban country feel to it. Now it’s becoming its own little city. It’s got its pros and cons.

Love the Southlake area. The Carrol Dragons football program is a force every year.

where is WSR?

my sister in law doesn't shut up about the Dragons football team.  

[NYJCAP2]

11 hours ago, Maxman said:

We close on the bridge loan on Friday this week, and then we close on the new house on Friday next week. I am hoping they can bump the closing up next week a day or two earlier. 

The house needs new flooring to be wheelchair accessible and the flooring company said the old floor definitely has to come up. I am friends with the owner of the store so I trust him completely. Timing just gets tough:

Fri 2/9 - Close

Sat - 2/10 - Paint contractor is starting. I thought they wouldn't start until Monday, but I don't want to slow them down. He is widening the doorways, spackling, painting everything and  putting in new floor molding.

So we have to rip up the floors soon because that will be messy. Fingers crossed.

Once the paint contractor is done (and floors) we are moving in. I am going to take out the current appliances and get new ones delievered.

The mortgage process was insane, they want so much documentation. But the mortgage commitment is here and we should be moving soon.

Thank you @Dunnie for letting me ramble. 

This is the right move.

With vinyl planking, if the sub-floor is not smooth and level, the tabs on the planks will break from traffic over time and your floor will start to float.

Good luck with everything.

[JoeNamathsFurCoat]

1 hour ago, batman10023 said:

is it really true that old customers get the same deal as new customers?

i found that to be too good to be true.

No idea 😂

I was working at a corporate office there as a software engineer / developer.

They still do pensions there though which is crazy.

I have a friend here on the West Coast who is like 18 months or so away from vesting.

He’s not exactly hurting for cash either way, but I’m sure it works out to a very nice annuity / lump sum if, God willing, he is able to make it to the finish line.

When I was there as a 22 year old or whatever, I remember there was a guy a few months away from vesting, and they laid him off.

[Maxman]

On 2/1/2024 at 11:43 AM, NYJCAP2 said:

This is the right move.

With vinyl planking, if the sub-floor is not smooth and level, the tabs on the planks will break from traffic over time and your floor will start to float.

Good luck with everything.

Thank you! I was hoping that wasn't the case but the installer said it is the right thing to do. I did have the paint contracting company back out to the house for an estimate on pulling up the floor.

We close on Friday 2/9. The paint contractor starts on Sat 2/10. The flooring company is scheduled for 2/20.

So if we rip the floors up after the painter, # 1, everything is going to be a mess. But # 2 that could slow down the move in if the slab needs to be leveled in spots.

The paint contractor is ripping up the floor and his price was $900 cheaper. Win \ win. He really looked at it, tapped it up in places that it was loose. The flooring guy was an estimate. Either way it is better that they do this, less mess.

Trying to pull off this two week move in, fingers crossed.

-Floors and baseboard trim coming up

-Doorways widened

-House interior spackled and painted

-Floor prepped as needed

-Bathroom toilets and vanities removed

-New Vinyl plank flooring installed

-New baseboard molding installed

-New appliances delivered

Damn, I just wrote out the project plan. Just want to get it cleaned up and moved in. Having Lauren stuck in the living room here really sucks.

[Bugg]

On 2/1/2024 at 12:50 PM, JoeNamathsFurCoat said:

No idea 😂

I was working at a corporate office there as a software engineer / developer.

They still do pensions there though which is crazy.

I have a friend here on the West Coast who is like 18 months or so away from vesting.

He’s not exactly hurting for cash either way, but I’m sure it works out to a very nice annuity / lump sum if, God willing, he is able to make it to the finish line.

When I was there as a 22 year old or whatever, I remember there was a guy a few months away from vesting, and they laid him off.

Had an old mentor I respected a great deal tell me that what's critical is saving for your retirement, whether you're working for yourself, the company or government agency offers a 401k or a pension, or if you open an IRA. In his case, didn't much consider it until later in his 40s, and he was not happy about  it. Nobody else is gonna care about you. When you're in your 20s, seems like that's so far into the future. but you get there quick. The sooner you start , the better. Even if you can only afford to put a little aside, do it. 

[Jet_Engine1]

4 hours ago, Bugg said:

Had an old mentor I respected a great deal tell me that what's critical is saving for your retirement, whether you're working for yourself, the company or government agency offers a 401k or a pension, or if you open an IRA. In his case, didn't much consider it until later in his 40s, and he was not happy about  it. Nobody else is gonna care about you. When you're in your 20s, seems like that's so far into the future. but you get there quick. The sooner you start , the better. Even if you can only afford to put a little aside, do it. 

People thought I was crazy when I "retired" from the FD at 51. 😆 "If you stay 3 more years... if you stay until you're X years old...". I wasn't happy or enjoying the job any longer, I hated being chained to South Florida.... and I could collect my pension the minute I put my papers in. BUT, I had the pension locked in for the rest of my life, and when I kick it, wife gets 75% of it for HER life (Private pension, we paid into it at a far higher rate than the State System - worth every dime). 

 

Slid into a new job immediately and now get a guaranteed monthly check from the pension, an Army Pension check, and making good money with the new employer,  and I'm only 52. Plan to work another 7-8 years or so, have a new 401 I'm contributing into, and when I hit 59, I'm retired for real.

Younger dudes didn't get it.... we used to pay 19.4% into our pension for a 4% Multiplier. Idiots voted to move to 3% at 13.6%. So short sighted. A 4% Multiplier is unheard of anymore... but the kids needed those $60k Pickup trucks, $80k Boats and 4 surfing trips a year to Fiji NOW.  😆 

[greenwichjetfan]

13 minutes ago, Jet_Engine1 said:

we used to pay 19.4% into our pension for a 4% Multiplier. Idiots voted to move to 3% at 13.6%

wait, multiplier or match? Because multiplier seems entirely unsustainable. 

[southparkcpa]

44 minutes ago, Jet_Engine1 said:

People thought I was crazy when I "retired" from the FD at 51. 😆 "If you stay 3 more years... if you stay until you're X years old...". I wasn't happy or enjoying the job any longer, I hated being chained to South Florida.... and I could collect my pension the minute I put my papers in. BUT, I had the pension locked in for the rest of my life, and when I kick it, wife gets 75% of it for HER life (Private pension, we paid into it at a far higher rate than the State System - worth every dime). 

 

Slid into a new job immediately and now get a guaranteed monthly check from the pension, an Army Pension check, and making good money with the new employer,  and I'm only 52. Plan to work another 7-8 years or so, have a new 401 I'm contributing into, and when I hit 59, I'm retired for real.

Younger dudes didn't get it.... we used to pay 19.4% into our pension for a 4% Multiplier. Idiots voted to move to 3% at 13.6%. So short sighted. A 4% Multiplier is unheard of anymore... but the kids needed those $60k Pickup trucks, $80k Boats and 4 surfing trips a year to Fiji NOW.  😆 

What I find interesting for me, I have worked very hard last 40 years, over saved, thinking I would hang it up at ay 57 or so. Now I am 62, still working and I have more money than I need. I can easily retire.  All on savings and IRA's etc.  But Ive been working since I am 13 and it is part of me.  My brother and sister suffer the same "problem".  Both are millionaire next door types but we just work as it is in our psyche and we believe it was a function of growing up on welfare. Fear of being poor.  Well.. I finally decided to stop as of May 1 this year other than about 100 tax returns I'll hang on to. I'll work 3 months a year, make about 100K and be fully retired May 1 to Jan 15. I'll do that 2 more years then fully done.

[batman10023]

38 minutes ago, greenwichjetfan said:

wait, multiplier or match? Because multiplier seems entirely unsustainable. 

state employee pension funds are unsustainable no matter match or multiplier.

for example, police in nyc average pension is $60k a year.  given that you can retire i believe after 22 years, the system can end up paying out a 45 year old guy for 35 years.  

the police is just one example.  i am not making a value judgement on the pension, more just stating that it's not sustainable in the long run.  

[batman10023]

14 minutes ago, southparkcpa said:

What I find interesting for me, I have worked very hard last 40 years, over saved, thinking I would hang it up at ay 57 or so. Now I am 62, still working and I have more money than I need. I can easily retire.  All on savings and IRA's etc.  But Ive been working since I am 13 and it is part of me.  My brother and sister suffer the same "problem".  Both are millionaire next door types but we just work as it is in our psyche and we believe it was a function of growing up on welfare. Fear of being poor.  Well.. I finally decided to stop as of May 1 this year other than about 100 tax returns I'll hang on to. I'll work 3 months a year, make about 100K and be fully retired May 1 to Jan 15. I'll do that 2 more years then fully done.

congrats.   you get the best months off and just work the winter months.  that seems ideal.

do folks still do the 4% rule.  make sure you can retire on withdrawing 4% of savings per year.  

we plan on retiring around 57 also.  but let's see if it actually happens. 

[greenwichjetfan]

13 minutes ago, batman10023 said:

state employee pension funds are unsustainable no matter match or multiplier.

 

Of course. It's not just pension funds. The waste in the govt is unsustainable. My FIL worked as an environmental engineer for the state of MA for 35 years. I'm not exaggerating when I say that he worked maybe 10 hours a week for the last decade that I've known him. Many times during COVID when we'd go to stay with them for a week or two, he'd ask me to help him with some computer stuff and I'd end up basically doing his job for him in a fraction of the time. Coming from the hedge fund industry, I can tell you that I've interviewed college juniors for entry-level analyst roles who could have done his entire 5 person team's work by themselves. And he was getting paid well without having to worry about saving any of it! He just retired early last Feb and the pension for him and eventually my MIL for life are in the high 80k.

So I get where you're coming from, but multiplier is definitely multiple factors worse than match, excuse the pun. 

[southparkcpa]

1 hour ago, batman10023 said:

congrats.   you get the best months off and just work the winter months.  that seems ideal.

do folks still do the 4% rule.  make sure you can retire on withdrawing 4% of savings per year.  

we plan on retiring around 57 also.  but let's see if it actually happens. 

I would say yes.... however, that rule, which we CFP's call the Bengin rule, was based on work done in the 90's when bond yields were 5-7 percent.

I like to use a 4 years liquidity rule, then the rest in equities as a general rule.   

[southparkcpa]

1 hour ago, batman10023 said:

state employee pension funds are unsustainable no matter match or multiplier.

for example, police in nyc average pension is $60k a year.  given that you can retire i believe after 22 years, the system can end up paying out a 45 year old guy for 35 years.  

the police is just one example.  i am not making a value judgement on the pension, more just stating that it's not sustainable in the long run.  

60K is probably low these days.  Good for them. I don't envy these guys.  Being LEO/1st responder today is a thankless job and I am 100 percent behind these guys and gals.

 

Admin however???? 

The number of 6 figure pensions in NY is probably near 100,000 retirees.

Check this out.

https://seethroughny.net/

[Maxman]

I am 54 and the thought of being retired isn't even a thought. I wouldn't know what to do if I wasn't working. Rise and grind I guess.

Working from home does change the equation. If I was commuting, especially commuting to NYC I would be read to hang them up already.

[#27TheDominator]

7 minutes ago, Maxman said:

I am 54 and the thought of being retired isn't even a thought. I wouldn't know what to do if I wasn't working. Rise and grind I guess.

Working from home does change the equation. If I was commuting, especially commuting to NYC I would be read to hang them up already.

I have a six year old.  I will be ready to retire at about 87. 

[Maxman]

1 minute ago, #27TheDominator said:

I have a six year old.  I will be ready to retire at about 87. 

I am starting a new mortgage at 54. If all goes well it is 85 for me lol.

[#27TheDominator]

5 minutes ago, Maxman said:

I am starting a new mortgage at 54. If all goes well it is 85 for me lol.

Oh yeah.  I did that too.  56.  My house probably cost more.  It's not nicer or better or anything.  It just probably cost more.

[Maxman]

On 2/5/2024 at 6:09 PM, #27TheDominator said:

Oh yeah.  I did that too.  56.  My house probably cost more.  It's not nicer or better or anything.  It just probably cost more.

100% true story, I am packing up and went through a bunch of old JetNation stuff from when we started. I found a few of the fridge magnets from 2005. 

[Maxman]

Also found this, @T0mShane and @faba do you remember when we went to Jets \ Giants camp in Albany? The Donnie Henderson heated practice?

We walk in and some guy is selling JetNation Rosters. I don't remember who it was but he was kind enough to give us one for free. Here it is...

 

[Maxman]

Closed on the bridge loan yesterday. Closing on the house Monday. 

Paint contractor is starting the work on Monday. We should be moving in two weeks. Mortgage process was painful, glad its over.

[Jet_Engine1]

On 2/5/2024 at 11:27 AM, greenwichjetfan said:

wait, multiplier or match? Because multiplier seems entirely unsustainable. 

Multiplier. And as former Union EVP, I can assure you that our private pension is extremely healthy and funded at over 90%. State/Govt run pensions are mismanaged. Ours has not been. But thanks for your concern.

[greenwichjetfan]

16 minutes ago, Jet_Engine1 said:

Multiplier. And as former Union EVP, I can assure you that our private pension is extremely healthy and funded at over 90%. State/Govt run pensions are mismanaged. Ours has not been. But thanks for your concern.

Curiosity =/= concern.

[faba]

5 hours ago, Maxman said:

Closed on the bridge loan yesterday. Closing on the house Monday. 

Paint contractor is starting the work on Monday. We should be moving in two weeks. Mortgage process was painful, glad its over.

Great good luck Phil. I remember that trip to Albany good times

[southparkcpa]

8 hours ago, Maxman said:

Closed on the bridge loan yesterday. Closing on the house Monday. 

Paint contractor is starting the work on Monday. We should be moving in two weeks. Mortgage process was painful, glad its over.

With all the revenue Jetnation generates I thought you would have paid cash 💰😂

[Trotter]

9 hours ago, Maxman said:

Closed on the bridge loan yesterday. Closing on the house Monday. 

Paint contractor is starting the work on Monday. We should be moving in two weeks. Mortgage process was painful, glad its over.

Best of luck and hope everything goes as smooth as it can

no BS - I admire the way you are ensuring the health, happiness and safety of your family and the speed in which you are doing so

God bless

i still want that shed though

[#27TheDominator]

10 hours ago, Maxman said:

100% true story, I am packing up and went through a bunch of old JetNation stuff from when we started. I found a few of the fridge magnets from 2005. 

[#27TheDominator]

10 hours ago, Maxman said:

Closed on the bridge loan yesterday. Closing on the house Monday. 

Paint contractor is starting the work on Monday. We should be moving in two weeks. Mortgage process was painful, glad its over.

Over?  At that rate?  It's only just begun.  I will probably be doing a refi or recast pretty soon myself.

[Maxman]

2 hours ago, southparkcpa said:

With all the revenue Jetnation generates I thought you would have paid cash 💰😂

The JetNation balance sheet leaves people in tears or laughter depending on what they think of me.

[Maxman]

1 minute ago, #27TheDominator said:

Over?  At that rate?  It's only just begun.  I will probably be doing a refi or recast pretty soon myself.

I locked in when it was in the upper 6s. This is before the fed meeting. They went back up when they said no rate cut.

It's I was messing around with the mortgage calculator and two points lower on the mortgage is like close to $600 a month less in payments.

[Maxman]

1 hour ago, Trotter said:

Best of luck and hope everything goes as smooth as it can

no BS - I admire the way you are ensuring the health, happiness and safety of your family and the speed in which you are doing so

God bless

i still want that shed though

Thank you!

The sellers left everything in the shed I asked them to.  it's an estate sale so they actually didn't even know what was in there. The people are remote. I'll be dumpster diving on Monday when we close, but I know there was some good stuff in there. Several nice ladders. The rest I can throw out.

 

[BP]

On 2/5/2024 at 6:02 PM, Maxman said:

I am starting a new mortgage at 54. If all goes well it is 85 for me lol.

 

On 2/5/2024 at 6:09 PM, #27TheDominator said:

Oh yeah.  I did that too.  56.  My house probably cost more.  It's not nicer or better or anything.  It just probably cost more.

Keep your mortgages kids. Mine is paid off and I pay 16k in property tax for 0.39 of an acre. And every year it always goes up. Let’s add in another $1200 for water and sewer. It’s cheaper to keep paying a mortgage for forever in central Jersey.

I can go back 10 years on the town website to see what I was paying in 2014 and it’s almost doubled in the last 10 years in EB. Crazy

 

[BP]

Good luck with the move Phil. Sorry to see the official world headquarters of jetnation being sold. That should be designated a historical building by Middletown township and turned into a museum with a basement tour.

 

How are the green giant arborvitae doing at the homestead?

[Maxman]

On 2/9/2024 at 5:07 PM, BP said:

 

Keep your mortgages kids. Mine is paid off and I pay 16k in property tax for 0.39 of an acre. And every year it always goes up. Let’s add in another $1200 for water and sewer. It’s cheaper to keep paying a mortgage for forever in central Jersey.

I can go back 10 years on the town website to see what I was paying in 2014 and it’s almost doubled in the last 10 years in EB. Crazy

 

Wait, are you saying your taxes are higher because you have no mortgage?

The .39 of an acre, is it all lawn? That has to be tiring, your throat must be sore telling the kids to get off of it.

You cover ground like CJ Mosley though, so I know you are on top of things. 

[Maxman]

On 2/9/2024 at 5:09 PM, BP said:

Good luck with the move Phil. Sorry to see the official world headquarters of jetnation being sold. That should be designated a historical building by Middletown township and turned into a museum with a basement tour.

 

How are the green giant arborvitae doing at the homestead?

Dude -- I will try to take a picture tomorrow. They are doing great. It took them some time, but this year they really started growing. By next summer there will be nice blockage for whoever buys my house.

For everyone else...the side of my yard was always fully covered with shade from trees. My neighbor cut them all down and BP gave me good advice. Giant Green Arborvitae's.

[Maxman]

Alright the house demo is almost done. Hired people to rip up the floors, paint etc. But there was so much crap left, mostly outside, that I filled up a 20 yard dumpster way too easily.

Painting and doorway widening will be done this week. New floors are done the week after.

Then we move. Can't wait!