What did you do today to prep?

[Sgt Nambu]

Just set my 401K contribution percentage to the max I could (85%) and still pay SSI/Medicare/insurance fees for each paycheck.

Why?

Well my employer has been making noises about laying people off this spring and did lay off people last year.

If I am going to get laid off early this year, then I want my taxable income for this year to be as small as possible (assuming I do not find another job) and I want to put the max I can into my 401K in the interim as many employers do not allow 401K contributions for 3 to 6 months after you start a new position in case I do find a new job this year.

More or less did the same thing last year for similar reasons, but then there was another reason; the market was way down so I made some profits for buying low and selling high (I later moved into bonds).

Once I max out then I can stop the contributions for the rest of the year, or if they layoff people and I still have a job, and it looks like I will keep it (which at this point I would prefer) I will cut back to a much smaller contribution that will arrive at my max limit for the year.

I am over 60 so I can pull it out at any time if I want without penalty if I need it, but I have enough in the bank at this point to live on for a couple of years so it doesn't hurt to have most of my paycheck going into the 401K. If I do get laid off, then I would get unemployment for at least 6 months if I can't find another job, and then I would have to pay tax on that, but it would be minimal.

Going to wait and see what happens. I should know by spring.

Good luck with the layoff, I hope you can work until you're ready to retire.

 

[The Heretic]

I did switch from 80/20 stocks/bonds to 80/20 bonds/stocks some months ago because I though the stock market was getting overheated and was ready for a correction - plus I thought I would maybe need the funds if I got laid off and if I got laid off I might not be able to wait for the correction to turn around and restore my investments.

So then the stock market took off.

But I still think it is going to have a correction during Trump's reign once the market sees what he really has up his sleeve, and being Trump he will double down instead of correcting his policies.

We'll see. My contributions are going into the stock market bucket (I did not change where they went) so that will slowly build back up, but I have much less risk.

If I keep my job until retirement the plan is to not touch the 401K/IRAs and live on SSI and sell my property to build further out on better property, leaving the 401K/IRAs for my daughter's retirement. Right now is when I am vulnerable as I need 3 to 4 more years to get to full SSI retirement age (makes about $8K per year difference). Once I reach that point then I can quit as I will have met my goals. I now feel more confident about that but we'll see.

I think there is going to be another recession coming, but if I am positioned right I can take advantage of it. If I can sell my property before the housing market crashes again then I can hopefully make a good profit on it (my property is appreciating faster - theoretically, on paper - than I am paying the interest/principle) and then use that to buy some bare land out where the land is cheaper.

It is all about timing. I am just holding my breath that the markets don't crash before I retire. If my daughter can keep working until her retirement age (about 20 years from now) my 401K/IRAs should have doubled in value. She cannot afford to invest in her 401K very much - I can max mine out.

Best laid plans of mice and men.

 

[The Heretic]

Good luck with the layoff, I hope you can work until you're ready to retire.

The new project may take me to retirement. It is not a short term project - it would take at least 6 months just to get it started.

If I had been laid off it might have been difficult to get another job; the tech industry does not look kindly on people 60+ years old - they want the young eager beavers. That is the nice thing about my employer; they don't really care about your age. I am a senior dev/lead and I have been there going on 6 years so I know the ins and outs of the code.

 

[Siglvr]

Walked downtown about 6 miles round trip with some weight on my back and worked out at the gym, walked home. Worked with the new puppy. She's gonna be an awesome ratter.

 

[Oathkeeper1775]

Picked up some sand, salt, and lumber.

Linked up, became aquainted, and had lunch with a NWFA member; which was a real good thing to do!

Conducted a route reconnaissance (avoiding traffic) through the Coast Range to get home.

Checked the generator and monitored the Salem and McMinnville 2M nets.

 

[CoastRange57]

Rolled the gensets up to the house and covered them up. Found I had 20 gallons of gas stabilized and got multiple extension cords ready. 15 gallons of propane on hand. Picked up 4 gallons of milk and the clerk says " Stocking up for the storm??" Ahhh no that is my normal Saturday grocery run, along with chips, cheese and Irish Creme.

Also called a friend in Central Oregon on the Mt Hood repeater, and did a couple other contacts as well. My son got a satellite bounce tonight.

Feels good being prepared and not having to panic for a non event snow storm.

 

[Quartermaster]

I organized, and consolidated my subsonic .22LR ammo, and brought all of my "in service" AR/AK mags into the same place for inventory, loading, and loadout designation.

 

[ATCclears]

If I had been laid off it might have been difficult to get another job; the tech industry does not look kindly on people 60+ years old - they want the young eager beavers. That is the nice thing about my employer; they don't really care about your age. I am a senior dev/lead and I have been there going on 6 years so I know the ins and outs of the code.

I'm perhaps a decade younger than you. I don't perceive the younger people to be a threat to my job security. Honestly, an engineering mindset is lacking with many of them. I've had several contracts cleaning up the mess...

 

[The Heretic]

I'm perhaps a decade younger than you. I don't perceive the younger people to be a threat to my job security. Honestly, an engineering mindset is lacking with many of them. I've had several contracts cleaning up the mess...

I don't think the "threat" is so much from the younger personnel, but rather from the mindset of the management. And to me, it isn't about my job security, but rather who will hire me when I am competing against someone younger.

 

[bgdawgrr]

Not a big vaccine guy, but got a pneumonia shot today.
You really don't die from the flu, it's usually the pneumonia you get from having the flu, so....my logic says.
Since I'm not "old enough" for a flu shot, I had to tell them about my chronic health condition to qualify. I started smoking, this morning, but am trying hard to quit.

 

[partsed]

Honing in my smoking meat skills Happy New Year peeps!

I leave the smoking meat skills to my wife. All she has to do is get distracted in the kitchen and the smoke detector goes off.

 

[Oathkeeper1775]

Repaired the remote control for the winch that controls the snow blade; the wires broke where they come out of the wand.

> $50.00 for a new one..... uh, no.

 

[Oathkeeper1775]

I organized, and consolidated my subsonic .22LR ammo...,

View attachment 333785

Nice stash; one comment to share: I believe getting .22LR out of paper boxes is a good idea, as it purportedly helps to prolong their life; since paper absorbs moisture.

 

[Quartermaster]

Nice stash; one comment to share: I believe getting .22LR out of paper boxes is a good idea, as it purportedly helps to prolong their life; since paper absorbs moisture.

Ammo cases are stored in a zero moisture environment with active desiccation. I don't keep them in my shed.

 

[Camelfilter]

...You really don't die from the flu, it's usually the pneumonia you get from having the flu, so....

Usually, but some rare folks do have a cytokine storm resulting in self lung injury or death. Almost an autoimmune response, but triggered by the flu virus (there are also multiple other triggers, some viral, some bacterial & some support transfusion related).

As to the flu, this happens moreso with "novel" influenza strains not covered by the seasonal vaccines, but not allways.

 

[HuckleberryFun]

After a couple of nice days off for Snowpocalypse 2017 I'm finally going out and about today. Just put the snow chains on the car. Good to stay in practice. Amazing how many drivers here have no idea how to put on chains...or drive in snow.
I'm more prepared than many just by knowing how to do that simple task.

 

[EPS]

My father-in-law gave me this tool yesterday. It is gas and water shut-off combined into one tool.

View attachment 332553

Oh and it has been snowing a lot, hence the background. Meh.

And a fire fighter tool also

 

[Oathkeeper1775]

Watched this video today because I was heading to Mololla yesterday and my truck had a mini EMP..... Transmission was acting funny; it would only drive in 2nd and 3rd gear. Come to find out that the ignition harness going out in these trucks as they age is quite common; the lack of voltage to the shifting solenoids causes the problem.

Almost 300K miles; a new truck is out of scope. Gonna try to replace the harness.

 

[Sgt Nambu]

Any chance to run bypass wires from the power source to the shifting solenoids?

 

[Oathkeeper1775]

Any chance to run bypass wires from the power source to the shifting solenoids?

Possibly, but I'd have to catch it in the failed state. Turning the truck off then starting it again seems to reset the fault.

Ed's Transmission in McMinnville did a free scan and told me to bring it back in the failed state and they would run another scan. But I took his advice and have the $94.00 part on order; should be here by Tuesday.


Thanks