[TeaOla]

Merry Christmas to you and your family

We will continue whatever left later 

[BrokeAssMillionaire]

Hola, Happy new year 

Not bad at all, I was expected to be over 300k gain but DOW was under 36500 pts so lost about 50k gain. I really don't see big gain in 2022, maybe negative as well   Or 6-10% gain would make me happy too. I was nervous about Tesla   but I think Monday will be skyrocket again, looking forward to $1300/share.



If you have money, it's the best time to deposit max and ready to get in if market drops.

Roth is kinda bonus, I don't think I really need at 60 so I just buy and forget. Never look back. So far, all gain. I really don't do research.  Every year, I go to Fidelity looking for Midcap funds, then buy the highest risk gain that they list as you can see in the red square box below and the gain.

[TeaOla]

Wishing you the best in the year of 2022

You can't cash out of your 401K until you reach 62 right? You may gain or loose  , what are your backup plans?.

I dont like to look at my 401K every single day because it's very long way for me to reach at the age of 62 . My strategies and mentality of investments are differences from you, and I dont base on 401K in order to have a comfortable life. As long as I have free health services, I will stay home. Is it truth that working at goverment agencies for 10 years, I will have free healthcare for the rest of my life or do I have to work for 20 years?. How many % can you get from pension now?

I dont know how to fix or build anythings in the house that's why I rather hiring someone to do it. If I dont want or dont know to do anythings, lets others do it for me. I used to hire someone shoveling the snow in front of the house, cheap and no need to get stressed about it . I rather pay extra money for the builder to upgrade everything, if things dont turn out the way that I wanted, I'll be after the builder. . 

How much did you pay for that fireplace? Where would you put it? 

My current house also has fireplace and I use it oftenly when winter comes. This house has bathtub, standing shower in master room, and fireplace in living room. Nowadays, it's hard to find all in one house. You have to pay what you want.

I want exactly like this in the living room.

[BrokeAssMillionaire]

The Monday of the year I was excited because Tesla gave me mola but thing turns around up to today that drops me under million again 

No, 401k, 457, Roth, IRA, and other plans can cash out at 59 1/2. Withdraw rule now is when you reach age 72 (70 ½ if you reach 70 ½ before January 1, 2020), you MUST withdraw a certain amount, otherwise, you will pay penalty, 6% or something I can't remember, rule changes every year.

Roth IRAs do not require withdrawals until after the death of the owner. This is the best, I will keep my Roth until I need to buy a house or something.

The backup plan? Live on pension and SSA without 401k if lose all, should be enough   I have told all my family members to work for Gov but they choose private for higher salary and stock options. Only one follows my footstep, the rest are now regret when they see my pension.

We're not that old yet for full benefit at 10 years   From 1985-1989, full benefit if work 10 years. After 1989, requires to work 20 years and can retire at 55 1/2. After 2011, requires 25 years and need to work until 62 of age.   I am lucky to get hire before 2011. By the way, 2000 hrs sickleave will give me 1 year service. By the time I am 55 1/2, I will get 2000 hrs that would give me 26 years service to add +2.0 % to pension, that's why I have never spent on my sickleave.

Pension is based on factor of age and year of service. For example. at 55 with 25 years of service, I would get 50% of salary. Even with 25 years of service and 60 years old, you would get 57.85%. The only way to get 100% is working for 40 years. Some people did work 40-45 years. I will be out at 55 1/2, 50% is enough since I no longer have any mortgage to worry about. Most bills are under $2k/month.


Gov employee salary is pubic record that everyone has the right to see how their tax money spend on.
https://transparentcalifornia.com/pensio...&y=2020&s=

Some alcoholic people work over 40 years   to get 100% pension.




Some people choose to get upgrade later and cheaper than the builder. If you don't care about the cost, you can go with builder for upgrade. The fireplace is just an example of the portable one. Make sure to ask them what the fireplace looks like, some looks ugly where I have to add molding around to make it modern and elegant.

By the way, there is another reason that few people upgrade later because of property tax  If you upgrade with builder, the total value will add to the cost of the house where you have to pay property tax bases on the final cost. If you upgrade later, city/county doesn't know, then they don't do assessment cost for upgrade.  I don't know if you can make a deal with builder that the upgrade cost won't add to the house cost, it's not a stupid question so you can try to ask them. It's kinda illegal but doable. Think about $100K upgrade, then you know how much additional property tax will be based on your city. 

[TeaOla]

Chúc Mừng Năm Mới

What is the status of your 401K ?

[BrokeAssMillionaire]

 Happy New Year again

The first New Year was awesome for 1 week, then the second week started going down to -200k. It has recovered more than 1/2 since last week.   

Losing gain is not a big deal but refer positive to keep my plan on track  Need DOW to reach 40k pts so I can see big belly

[TeaOla]

Hello,

I hope you are doing well lately

Is State hiring more people now?
My nephew is graduating this May, can you hook him up ?
I'll treat you chè 3 màu at Bambu dessert place when I'm in town  

[BrokeAssMillionaire]

Still losing around 450k gain   I am holding anyway so it's no problem.

So many hiring going on for over 2 years, go for state, no county or city

Tell you nephew to apply here
https://www.spb.ca.gov/

A lot people are retired every month so there are so many position open. What is his major? Can't hook up since too much politic but should be easy to get in during this time.

[TeaOla]

OMG!
If you keep all your houses, you always make money.

Couple of my coworkers are not able to be retired early because their 401K dropped so much. Some of them are still working at the age of 73. 

My nephew is graduating with Civil E major, does he have to get PE too?
Thanks for the link

[BrokeAssMillionaire]

Can't keep all the houses because I am starting to sell each of them and keep the capital gain without tax You know what I mean.

He should know about well about Caltrans job. If he has EIT license ( Engineer in Training), he would get  extra point for interview. Should be fine without EIT. PE needs to work 4 years in order to qualify for exam.  As far as I know it's the best time to get in. Do not go for private to get higher salary because he will work like a dog   For example, his private company will work with us anyway so when we work 8 hrs but for private guys, they need to do 10-12hrs, not worth it. 8hrs we go home, for private guys, they need to stay to clean up without overtime pay because it's on salary.

The possible for him at the moment is to work on the freeway all day (as an inspector) unless he can get an office job such as Structure Design if he has strong knowledge. Tell him to apply all 12 districts in California (I am sure he won't get San Diego district since many people fight for that city). Try to get in the state system first then apply to the city he likes later in 2 years with new position. There are a lot of things he can learn if he wants to earn experience. I don't like to do inspector but a lot of guys like it because of an easy overtime 2 hrs pay everyday as state employee.

Tell him the interview is very simple and easy with 10 questions. No technical questions, just whatever he has learned in school major such as onramp offramp design, roadway design,  bridge design, hydraulic, timber, survey, etc. If he has computer skill, it's a plus. Let me know if he has any other questions.

The link above for all Cali state jobs. Same listing from this link too. Tell him when to take exam online to put on the interview list, make sure all answers are excellent. Otherwise, he will fail.....lol.... Those online questions exam are not for interview but put him on the interview list.
https://dot.ca.gov/


It doesn't make sense that they can't retire unless they move funds around. Last year I gained 277k, and yesterday was under -190k so I still gain though.

[TeaOla]

Whatever houses that we bought, we plan to keep them from our generation to next generation. We dont plan to sell any of them unless we are in the hardest shift. Inherited assets dont have to pay taxes, if you give our assets to your kids, they dont have to be worried about paying taxes. You are planing to sell your houses, it means you dont plan to pass your assets to anyone :D

I dont believe about getting good grades to get better jobs animore. It's all who you know. Which one did you pass EIT or PE? How can he prepare for EIT exam? do you have reference books that he can buy to help self-studying? He is young, he needs experience and learns how to survive in this world.  He should get the hard job to start with. What is the minium of salary that he can get without experience?

What do you mean by all answers need to be excellence? are there short answers for the online exam? How can he prepare for that? What if he fails the first time, is there second chance and how long does it take for him to retake the exam?

You are smart with money but not many people know how to manage their money. That's why they have to work until 70s.

Do you know about EE bonds? How can I cash it out without paying tax?

[BrokeAssMillionaire]

House doesn't last forever, when you're into repair then you know why you want to get rid of them.   I actually want to sell all 3 then buy a big one for good to enjoy where I need to have 3 years interval for the last two in order not paying tax.

Transportation Engineer, Civil (TEC) and Transportation Electrical Engineer (TEE) Online Examinations
https://dot.ca.gov/programs/human-resour...ec-and-tee

Only engineer exam is easy. All you need is pick out/select answer from A to E (Pick excellent answer). Only the one like do you have BS, EIT, PE, then pick the correct one. If you don't pick excellent, you will fail and have to wait for 6 months to retake exam. Pass exam will put you on the interview list. They will send out letter to invite you to interview. Reject letter 3 times will automatic kick out. With 3 interviews, then he will know everything and have more confident, and no longer getting nervous.


Jobs Search
https://www.jobs.ca.gov/CalHRPublic/Sear...#depid=141
TE listing
https://www.calcareers.ca.gov/CalHRPubli...assid=1221

Salary range A to D:  A:$5,849.00 - D:$10,956.00, automatic raise until C, then pass EIT and PE for range D.
A $5,849.00 for starter with no experience
B: Second year from range A. If you have 2 years experience
C: After 3 more years then 2 more years to max out at $8939 (I think it's around $10k max now. I think 2% raise this July too)
D: If you have PE, it starts from middle of range C then max out D

However, engineer union always requests raise every year for 2 years ahead where usually 2% to 3.5% raise, So you always know ahead that you will get raise beside the ranges above. No matter how your performance at work is all engineers will get the same raise.

Keep 2000 hours of sickleave (take 20 years) will count as 1 year service toward another 2% pension. In the past they allowed you buy 5 years service for $50k but it's no longer available which mean you retire at 60 but actually 65 where you get more pension. 

I don't have EIT or PE, those 8 hrs exam are torture and cost to sign up too. A lot people take like more than 5 times 

In the past, it was only 5k different in a year with PE license so I didn't bother. I went ahead with different direction to take CNA and MSCE license to be a network consultant where made a lot of easy money by working at home with remote access. For the last 20 years, I only spent on my consultant checks and never touch my main job salary. That's why I have been max out 401k and 457 retirement plans.

He can buy EIT and PE books on amazon. We have library that he can check out EIT and PT books and practice exam if he gets the job at Caltrans. It's best he takes EIT exam right away since he's still remember all the formulas from school. Exam is only 2 times a year in April and October.

Don't worry about hook up, I am sure he will get it. we have short people because too many retirement. I believe in the next 2-5 years, thousand will retire Because we haven't hired anyone between 2010-2018, so we are looking for people out of state too.


I don't have EE bond. I think EE bonds tax free for education only.

$5,849.00 - $10,956.00 per Month

[TeaOla]

Where have you been anh M?
I hope you are doing well.

[BrokeAssMillionaire]

I am still alive   busy with retirement in 2 more weeks. Actually, Dec. 31st is last day in office but starting taking 10 months vacation while still get pay full salary, then will official announce to quit job.

So far so good.

[TeaOla]

Happy holidays! Congrats to make your dream comes truth.

What I read about 410K, there is 10% penalty if someone takes before 59.5. How can you take the money out without penalty?
What are you going to do next when you receive those delicous checks every month?