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Re: Paying my parents a salary not to touch their nest egg

Not sure it's a terrible idea, but you'd have to run a lot if scenarios and make a lot if long term assumptions on tax rates, especially inheritance taxes.

I'd also be concerned that your financials are not in order yet. Long way to go.

Your parents should look into trusts.
by Bacchus01
Wed Nov 26, 2014 10:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Paying my parents a salary not to touch their nest egg
Replies: 50
Views: 4291

Re: Who to Use: CPA, Financial Advisor, Someone Else?

I love these threads. People ask for advice and then spend most of the timing ignoring or arguing against the advice. The main question was who to use to do a review and checkup. The overwhelming advice was the "other" category of do it yourself. Is suggest getting a plan out together, the...
by Bacchus01
Thu Nov 20, 2014 12:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Who to Use: CPA, Financial Advisor, Someone Else?
Replies: 65
Views: 3757

Re: Who to Use: CPA, Financial Advisor, Someone Else?

401k contributions do not reduce your SS earnings. As for an advisor, I'll let others comment. I was in a similar spot about 2 years ago. We just had to much in too many places poorly managed. Instead of an advisor, I took 2 days over holiday vacation and read every single Wiki on this board. I then...
by Bacchus01
Wed Nov 19, 2014 10:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Who to Use: CPA, Financial Advisor, Someone Else?
Replies: 65
Views: 3757

Re: When do your account returns dwarf your contributions?

This is a tough one. The more I make, the more I save. I would say that in 2014 my contributions have been about $62K and my returns have been about $97K. Does one dwarf the other? I guess maybe 1.5X is dwarfing, but I'd say neither is where I'd like them to be. 2015 will look like contributions of ...
by Bacchus01
Tue Nov 18, 2014 5:57 pm
 
Forum: Investing - Theory, News & General
Topic: When do your account returns dwarf your contributions?
Replies: 51
Views: 5758

Re: Heads up best reward credit card I've seen.

I would love for someone to come up with a program that you can plug all your expenditures into and it would tell you which cards to use for what. I don't know how I'd do that on my own. For the groceries, one of the issues is that they don't usually recognize Wal Mart as a grocery store and therefo...
by Bacchus01
Tue Nov 18, 2014 3:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Heads up one of the better reward credit card I've seen.
Replies: 54
Views: 6283

Re: Parents can be forced to pay college tuition in NJ?

She's 21. There is nothing "ethical" at all about this court ruling. They have no "requirement" to give here this money. This is a ridiculous, frivolous case. As a parent, you have a responsibility to do everything in your ability to make your child a productive member of societ...
by Bacchus01
Fri Nov 14, 2014 2:52 pm
 
Forum: Personal Consumer Issues
Topic: Parents can be forced to pay college tuition in NJ?
Replies: 31
Views: 1921

Re: Parents can be forced to pay college tuition in NJ?

She's 21.

There is nothing "ethical" at all about this court ruling. They have no "requirement" to give here this money.

This is a ridiculous, frivolous case.
by Bacchus01
Fri Nov 14, 2014 11:38 am
 
Forum: Personal Consumer Issues
Topic: Parents can be forced to pay college tuition in NJ?
Replies: 31
Views: 1921

Re: Real estate as my "million dollar idea"

Your FIL manages 30 properties and grosses ~$324K a year? His investment is around $1M. I don't see the path to Millions and Millions (which was your original statement). Are you going to manage 100 properties? Other than a potential "million dollar idea" or breakthrough development/produ...
by Bacchus01
Wed Nov 12, 2014 9:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate as my "million dollar idea"
Replies: 78
Views: 6723

Re: Real estate as my "million dollar idea"

Your FIL manages 30 properties and grosses ~$324K a year? His investment is around $1M.

I don't see the path to Millions and Millions (which was your original statement). Are you going to manage 100 properties?
by Bacchus01
Wed Nov 12, 2014 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real estate as my "million dollar idea"
Replies: 78
Views: 6723

Re: What is your age and AA?

Me, age 41. Wife, age 45

We are 81% equities and 19% bonds/CDs/cash
by Bacchus01
Mon Nov 10, 2014 7:29 am
 
Forum: Investing - Help with Personal Investments
Topic: What is your age and AA?
Replies: 219
Views: 56242

Re: What about non-U.S. colleges?

A college degree is mainly used to impress future employers. What do you think most hiring managers will do when they receive a resume that includes a degree from a foreign institution that they have no knowledge of? Not to be snarky, but if the hiring manager hasn't heard of the schools mentioned ...
by Bacchus01
Mon Nov 10, 2014 4:48 am
 
Forum: Personal Finance (Not Investing)
Topic: What about non-U.S. colleges?
Replies: 47
Views: 3911

Re: 250K or more with Vanguard

FDIC insurance is for bank deposits, not brokers. There is no insurance.
by Bacchus01
Mon Nov 10, 2014 4:45 am
 
Forum: Investing - Help with Personal Investments
Topic: 250K or more with Vanguard
Replies: 2
Views: 942

Re: Deferred Compensation Strategies

Is there a certain threshold to try and hit that's best? E.g. Less than 250K?

As for lump, I have to be 55. Right now I'm not sure I plan to work that long, and certainly not certain I'll be at this company in 15 years, so lump sum is likely.
by Bacchus01
Fri Nov 07, 2014 3:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Deferred Compensation Strategies
Replies: 7
Views: 1039

Re: Deferred Compensation Strategies

I just learned about Pease for deduction reductions over the. 300K income threshold. Seems like another reason to try to get income down. Any of these other things if should consider?
by Bacchus01
Fri Nov 07, 2014 9:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Deferred Compensation Strategies
Replies: 7
Views: 1039

Re: Deferred Compensation Strategies

Good question. 5 years or more deferral is the option. If it is retirement age, you can take the payout over time, otherwise it's a lump sum. I don't plan to work until I'm 55 (things could change) so it would likely be a lump sum and assuming the tax code stays the same, I would likely be deferring...
by Bacchus01
Thu Nov 06, 2014 10:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Deferred Compensation Strategies
Replies: 7
Views: 1039

Deferred Compensation Strategies

I am looking to participate in my private megacorps non qualifies deferred compensation plan for the first time. Setting aside the risk that one takes in these plans as they are assets of the company, I'm interested in hearing some strategies on how to use them. For reference, income is $400k+ per y...
by Bacchus01
Thu Nov 06, 2014 7:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Deferred Compensation Strategies
Replies: 7
Views: 1039

Re: Cash - Throw it all on the table!!!

Too much.

Probably have 1X expenses in cash right now. Another year in CDs and ST Corporate Bond fund.
by Bacchus01
Wed Nov 05, 2014 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 51
Views: 3756

Re: 529 Early Withdrawal

Can I take all the earnings and pass them to another beneficiary, then take out the contributions on a non-prorated basis? What if I live in a state that allows tax deductions, but then later move to a state that does not. If making an early withdrawal, how is the state tax managed? How would the ol...
by Bacchus01
Tue Nov 04, 2014 10:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 Early Withdrawal
Replies: 10
Views: 669

Re: AA...any other crazy 80/20 folks out there?

I'm 41 and hope to retire somewhere between 4 and 14 years. 80/20. With two significant pensions and SS, I'm not sure I'll ever turn that down.
by Bacchus01
Tue Nov 04, 2014 10:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: AA...any other crazy 80/20 folks out there?
Replies: 57
Views: 4825

Re: Ashley Furniture

Ashley makes garbage.
by Bacchus01
Mon Nov 03, 2014 9:32 pm
 
Forum: Personal Consumer Issues
Topic: Ashley Furniture
Replies: 42
Views: 3323

Re: What are you up YTD?

Nearly 11%

Why check? Because I check rebalancing monthly.
by Bacchus01
Sun Nov 02, 2014 5:27 pm
 
Forum: Investing - Help with Personal Investments
Topic: What are you up YTD?
Replies: 213
Views: 18626

Re: 401k millionaire

You need to qualify whether you have a solo 401k or not. If not, I'm surprised how fast people for there. I've been at it for 17 years. Hit HCE limits early but have always maxed whatever I could and have just about 550K. Another 100K in my spouse's. Another 70K in Roth IRAs all done in the last 3 y...
by Bacchus01
Fri Oct 31, 2014 7:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: 401k millionaire
Replies: 27
Views: 5016

Re: What to ask for when negotiating a severance package?

Severance will mean squat in the grand scheme if your life. Start looking for a job.
by Bacchus01
Thu Oct 30, 2014 8:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: What to ask for when negotiating a severance package?
Replies: 26
Views: 2128

Re: Shoes for Plantar Fasciitis?

As an avid runner, over dealt with PF for years. 5 years to be exact. I've tried custom inserts and hates them. I wear super feet green in all my shoes and that helps, mostly. My feet never hurt when I run or when I get up in the morning. They do hurt badly when I walk or stand for any amount of tim...
by Bacchus01
Mon Oct 20, 2014 7:17 pm
 
Forum: Personal Consumer Issues
Topic: Shoes for Plantar Fasciitis?
Replies: 47
Views: 2437

Re: Best place (with warm weather) to raise children

Charlotte area. Wish we still lived there .
by Bacchus01
Fri Oct 17, 2014 6:33 am
 
Forum: Personal Consumer Issues
Topic: Best place (with warm weather) to raise children
Replies: 73
Views: 5350

Re: Is semi-retirement a bad idea?

Supporting a young family of 5 living in a $500k house on $80K gross per year? And planning to fund their education as well? Highly unlikely. You might want to sit down and draw up a realistic budget. Without housing expenses, our cost per person for our family of 5 is nearly $20K a year. We are not...
by Bacchus01
Tue Oct 14, 2014 9:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is semi-retirement a bad idea?
Replies: 106
Views: 7608

Re: What are you up YTD?

Still up 5.6% YTD. Losing momentum quickly, obviously.

Actually, without contributions, I'm up about 1.5% YTD. The rest was contributions. Ouch.
by Bacchus01
Mon Oct 13, 2014 3:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: What are you up YTD?
Replies: 213
Views: 18626

Re: How to buy a used car

EBay. Bought my last 5 vehicles there.
by Bacchus01
Mon Oct 13, 2014 1:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to buy a used car
Replies: 16
Views: 1674

Re: Sale of house-closing tomorrow, buyer is backing out

I had this happen in 2010. The earnest money was 10K. Not only did they back out, but the buyer threatened to sue me for the earnest money. Both his and my lawyer laughed at him and told him about Specific Performance. I hindsight, I would not have kept the earnest money. I would have taken him to c...
by Bacchus01
Mon Oct 13, 2014 1:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Sale of house-closing tomorrow, buyer is backing out
Replies: 60
Views: 5318

Re: 0% Furniture Credit

THEY (the furniture stores) aren't loaning money to you at 0%. THEY are getting full price PLUS they are usually getting a kickback for the financing. They get paid MORE when you finance. That's why the like to do it. The financing company is counting on you not paying on time. That's how they make ...
by Bacchus01
Wed Oct 08, 2014 11:48 am
 
Forum: Personal Finance (Not Investing)
Topic: 0% Furniture Credit
Replies: 29
Views: 1337

Re: 0% Furniture Credit

People are missing the one big benefit which is the flexibility of having the cash available to you for another reason, or an emergency. I always take these offers. They WANT you to take these offers. They do NOT prefer that you pay cash because they get incentives to sign you up. I set up autopay f...
by Bacchus01
Wed Oct 08, 2014 9:59 am
 
Forum: Personal Finance (Not Investing)
Topic: 0% Furniture Credit
Replies: 29
Views: 1337

Re: Critically Acclaimed Movies you did not like

market timer wrote:
JonnyDVM wrote:
matjen wrote:Crash


Beat me to it.

Easily the worst Best Picture winner I've ever seen.

Has to be at the top. I rarely turn off a movie mid stream but this one made it about 30 minutes.
by Bacchus01
Sat Oct 04, 2014 8:06 pm
 
Forum: Personal Consumer Issues
Topic: Critically Acclaimed Movies you did not like
Replies: 150
Views: 9758

Re: What Book Are You Currently Reading? Part VI

Just finished Gone Girl. Got caught up in the hype and read it on a plane trip. Not bad, but predictable. I may have to catch up on some more Zombie/Apocalypse fiction. Anyone have an recommendations here? I've read World War Z, Autumn series, Day by Day series, Apocalypse Z series (first book was g...
by Bacchus01
Fri Oct 03, 2014 4:00 pm
 
Forum: Personal Consumer Issues
Topic: What Book Are You Currently Reading? Part VI
Replies: 181
Views: 17839

Re: Would you buy a house in cash if you had enough?

Me? I'd take the loan. But then, I wouldn't take that loan. I'd take an ARM and get the lowest is double rate.

Being liquid is the best form of risk management. Putting that much in a illiquid asset would be risky.
by Bacchus01
Fri Oct 03, 2014 5:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house in cash if you had enough?
Replies: 59
Views: 4389

Re: Should I buy this house

Have you estimated it what it's going to cost to furnish the house? You don't list square feet, but in my experience it's easily $10-$20/sq ft minimum to fully furnish a place and if you are new grads you probably have very little.
by Bacchus01
Wed Oct 01, 2014 8:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I buy this house
Replies: 37
Views: 2226

Re: favorite brand name products

Kohler - best products in every category Nike - some people hate them, but they all fit and wear extremely well for me and my family Sweet Baby Rays - I loved it when it was a "micro" brand Garmin - Garmin makes the only running watches I'll wear Nivea for Men - works for me Quacker Oatmea...
by Bacchus01
Mon Sep 29, 2014 10:05 am
 
Forum: Personal Consumer Issues
Topic: favorite brand name products
Replies: 58
Views: 3119

Re: Treadmills

I think I paid around $1250 for my Sole F80 from Sears on sale. It was an end-of-year model.

$1400 seems to be the going rate.
by Bacchus01
Thu Sep 25, 2014 12:26 pm
 
Forum: Personal Consumer Issues
Topic: Treadmills [vs. Ellipticals]
Replies: 55
Views: 3993

Re: We have a grocery problem... [Household budget]

I can't buy food for anything close to what you list there.
by Bacchus01
Mon Sep 22, 2014 7:54 pm
 
Forum: Personal Consumer Issues
Topic: We have a grocery problem... [Household budget]
Replies: 158
Views: 11211

Re: We have a grocery problem... [Household budget]

I don't know how to solve your problem, but I thought I'd post some data to compare. We are a family of 5 with 3 boys ages 13, 8, and 5. The two older boys eat A LOT. We live in Milwaukee area and while not Chicago, still not cheap. Our annual expense for last 12 months: Groceries: $20,403 (or $1700...
by Bacchus01
Sun Sep 21, 2014 9:00 pm
 
Forum: Personal Consumer Issues
Topic: We have a grocery problem... [Household budget]
Replies: 158
Views: 11211

Re: Do I Really Need a Million Bucks?

I'm pretty sure I could get by on a $1M in today's dollars for retirement. But I don't want to.

I plan to retire at 50 (10 years) with $10M. I don't know that I would ever outspend that.
by Bacchus01
Sat Sep 20, 2014 6:36 pm
 
Forum: Personal Consumer Issues
Topic: Do I Really Need a Million Bucks?
Replies: 50
Views: 3747

Re: Treadmills

Another endorsement for the Sole F80.

I have over 2,400 miles on ours. Trouble free.
by Bacchus01
Sat Sep 13, 2014 9:47 pm
 
Forum: Personal Consumer Issues
Topic: Treadmills [vs. Ellipticals]
Replies: 55
Views: 3993

Re: Vanguard Recommending Quicken Changes

I keep getting the same error message when trying to set up the account: Quicken is unable to establish an internet connection [OL-297-A] But, i can update all my other accounts just fine. I can't get past the stage of adding my login/password because of the error above. Anyone else have this and a ...
by Bacchus01
Sat Sep 13, 2014 6:18 am
 
Forum: Personal Consumer Issues
Topic: Vanguard Recommending Quicken Changes
Replies: 62
Views: 6195

Re: Lawnmower/gas issues

I just don't buy that it is the ethanol in the gas. gasahol has been around for years, and if it was causing premature implosions of lawn mowers it would be a major story. dirt in the lines is not about the alcohol in the gas. I guess the ethanol can cause some water. I never put stabilizer in my t...
by Bacchus01
Fri Sep 05, 2014 10:20 am
 
Forum: Personal Consumer Issues
Topic: Lawnmower/gas issues
Replies: 48
Views: 2194

Re: Have I put too much into the 529 plan?

Could you explain how you have the option to withdraw the contribution amount(s) and just let the interest compounded over time remain in the 529--and NOT incur a penalty? One cannot really do that unless perhaps in the following circumstance: You have equities and fixed income in the 529 plan with...
by Bacchus01
Tue Sep 02, 2014 9:56 am
 
Forum: Investing - Theory, News & General
Topic: Have I put too much into the 529 plan?
Replies: 39
Views: 7202

Re: Costco:is it worth it for just two people?

For a family of 5 that spends approximately 1500 a month at Walmart on groceries and other disposable items, how much could this family really save at Costco?
by Bacchus01
Tue Sep 02, 2014 8:37 am
 
Forum: Personal Consumer Issues
Topic: Costco:is it worth it for just two people?
Replies: 143
Views: 12770

Re: Does your employer still offer pensions to new hires?

My company still offers them to new employees. It's a solid plan.

I am fortunate that I will have worked for 2 companies for most of my career that offer DB plans and will receive two pretty nice pensions someday (around 60K per year)
by Bacchus01
Sat Aug 30, 2014 7:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Does your employer still offer pensions to new hires?
Replies: 54
Views: 3973

Re: Do you know any of the 36% [that don’t save for retireme

Here is a tip that worked for my children: I forced them to open Roth IRAs with their job earnings. They would not do it unless I forced them to do it. To make it worth their while, I simply give them the money to put in the Roth IRA. In other words, I essentially double their salaries since they a...
by Bacchus01
Mon Aug 18, 2014 10:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: [helping a family member to start investing]
Replies: 10
Views: 829

Re: How much do you plan to save in your 529 plan?

Interesting question. Right now we have $60K in 529 plans with a 13, 8, and 5 year old. Wisconsin allows a deduction on $3K of contributions per beneficiary per year, so we put in $3K each for the 3 kids and for my wife and myself. That's a total of $15K/year. We'll move around the funds to support ...
by Bacchus01
Mon Aug 18, 2014 10:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much do you plan to save in your 529 plan?
Replies: 60
Views: 7152

Re: Your biggest "Missed Money" event that still kills you?

Not selling my stock options when the stock was at $72 in Dec 2008. By March of 2009 it was $3.50. It has since recovered to $40, but I left that company in 2010. That cost me mid 6-figures. Conversely, in early 2009 I had a brief idea to move all my 401K into company stock at $3.50. Had I done that...
by Bacchus01
Mon Aug 18, 2014 1:44 pm
 
Forum: Investing - Theory, News & General
Topic: Your biggest "Missed Money" event that still kills you?
Replies: 102
Views: 8611
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