About Me

jIM

I am a 35yo married and father of twins. I will update the photos once in a while. They were born 3 months early in March of 2008 and went through a tough first 4 months. They are now doing well.

Retirement checkpoints
( ) $1.5 M needed age 53 2026
( ) $750k needed age 45 2018
( ) $375k needed age 37 2010
( ) $180k needed age 29 2002

I had 200k before the drop in 2008. I need to set aside around 200k in next 2.5 years to get early retirement.

[ ] max 401k for me
[ ] max 401k for wife
[x] max Roth for me
[x] max Roth for wife
[x] start taxable portfolio
[ ] 3 months expenses in EF
[ ] 9 months expenses in taxable account
[ ] open college savings account for kids
[ ] dividend income equals half of annual expenses
[ ] pay off 2nd mortgage by 2013
[ ] pay off 1st mortgage by 2026
[ ] finance next car for 3 years or less
[ ] pay cash for my next car around 2016
[ ] start a TIPs 10 year bond ladder by 2016.

Tax course

December 1st, 2008 at 10:28 am

I passed my tax course with an 85% overall. I think my final exam score was a 4.2/4.4. I only glanced at the final exam score once I saw that I passed.

The final was WAY WAY too easy. I could have passed it 5 weeks ago with what was taught (hint- if you have not taken the course, know EIC, filing status and dependants, and you will be able to get around 66%).

Posted in taxes | 5 Comments »

5 Responses to “Tax course”

merch Says:
December 1st, 2008 at 10:43 am

Nice job!!!
Ima saver Says:
December 1st, 2008 at 11:00 am

Congratulations!!
dmontngrey Says:
December 1st, 2008 at 05:48 pm

Great news!
lizajane Says:
December 1st, 2008 at 09:06 pm

Congrats! I passed as well, and started the next series of classes tonight. I didn't think the final was easy though! I thought it was a lot harder than most of the other tests we took throughout the course. I still struggle with some of the situations that are non-standard to me, but all too common in reality...3 generations in the same house, or parent/kid living with non-relative....and who claims who as dependents.
jIM_Ohio Says:
December 2nd, 2008 at 03:14 pm

The next series of classes is grossly inconvenient- few here are offered on Saturdays, and they are only 3 hours long- I would much prefer an 8 hour day and cover 3 sessions- so I only have to go for 3 or 4 saturdays.

If all I have to do to pass a tax final is figure out who is related to who, who pays 50% of the support, and do they qualify for EIC, that is way too simple.

jIM_Ohio is Investing to retire early

Instead of making retirement a question, make it a sport- can I do it and how fast?

Tax course

5 Responses to “Tax course”

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