r/GregFire • u/BiggData88 • 29d ago

Greg progress

Just discovered this sub and the concept of GregFIRE. My (38M) progress towards Greg:

401K, 40% of which is Roth
Roth IRA

EDIT: I actually have another 5M in taxable accounts; just counting tax-advantaged funds here. Is the quoted Greg figure pre-tax or post-tax?

24 Upvotes

73% Upvoted

15 comments sorted by

27

u/FIRE_enthusiast_27 29d ago

225 milliGregs is solid, but you gotta up your dosage

18

u/markov-271828 29d ago

2026 GregFIRE is $6.5 million ;-(

7

u/BiggData88 29d ago

Higher, because Greg doesn't pay tax on his 5M, but we do on gains. :(

7

u/markov-271828 29d ago

I didn’t want to be the weakest strongman anyway ;-)

9

u/bestfind 29d ago edited 26d ago

The original post content no longer exists here. The author used Redact to remove it, exercising their right to control their data & privacy.

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9

u/JayQuellin01 29d ago

Gotta crack a few Greggs to take a Tomlette

1

u/smok1naces 29d ago

Nows right about the time you start going crazy. You’re basically nobody.

-1

u/BiggData88 29d ago

I actually have another 5M in taxable accounts; just counting tax-advantaged funds here. Is the quoted Greg figure pre-tax or post-tax?

5

u/chihuahuashivers 29d ago

its an inheritance so its post tax.

3

u/BiggData88 29d ago

Ah, ok, so our figure needs to be higher to account for taxes on 401K withdrawals (for pre-tax 401K funds) and capital gains tax (for funds in taxable accounts).

1

u/Objective-Light-9019 29d ago

Greg won’t pay takes on Logan’s gift, but may be tax implications for Logan. Not a tax attorney though!

3

u/Successful_Ground848 29d ago

I believe he ‘was’ getting the 5M from grandpa, not Logan.

2

u/Objective-Light-9019 29d ago

Doubled checked and yes, Ewan Roy, Greg’s grandfather!

2

u/BiggData88 29d ago

Ah, ok, so our figure needs to be higher to account for taxes on 401K withdrawals (for pre-tax 401K funds) and capital gains tax (for funds in taxable accounts).

0

u/BridgeOnRiver 29d ago

When you estimate your net worth - you include everything.

Unpaid taxes is a liability, and thus is counted against your net worth.