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Any married (MFJ) spouses contribute to two HSA accounts?

I am considering a high deductible plan this year. Typically, either my spouse or myself would carry coverage for the family. With the potential tax benefits from the HSA we are wondering if we can each sign up for a HSA and have one person sign up as an "employee only" and the other signs...
by HopeToGolf
Tue Oct 28, 2014 9:28 am
 
Forum: Personal Finance (Not Investing)
Topic: Any married (MFJ) spouses contribute to two HSA accounts?
Replies: 2
Views: 308

Re: Cast Iron Skillet Cooking

No recipes per se but wanted to support cast iron skillet cooking. I bought one pan a number of years ago and after using it once I went out and bought two more in different sizes. Just a month ago I bought a stove top plate that has a flattop on one size and grill pan surface on the other. Long sto...
by HopeToGolf
Tue Sep 23, 2014 8:26 pm
 
Forum: Personal Consumer Issues
Topic: Cast Iron Skillet Cooking
Replies: 107
Views: 9556

Re: Help Please: Retirement plan vs. Higher Salary

I think option 1 is the better choice but let's evaluate option 2 a bit more..... 1) How is compensation structured at other employers? 2) Do you plan to stay with the employer long term? Do people if your field stay with their first employer until retirement? 3) If (and when) you leave do you expec...
by HopeToGolf
Thu Sep 04, 2014 6:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Retirement plan vs. Higher Salary
Replies: 35
Views: 3286

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

We are targeting 100% of 4 years at our public state university which we estimate will be about 50% of 4 years (IOW 100% of 2 years) of private school tuition. If we have a shortfall, we will cash flow the remainder. If we cannot pay cash for the shortfall then the kid will have to borrow or find a ...
by HopeToGolf
Sat Aug 23, 2014 5:59 am
 
Forum: Personal Finance (Not Investing)
Topic: How much do you plan to save in your 529 plan?
Replies: 60
Views: 7082

Re: Help with investing "fun" money

Mind Bogling My wife and I do the same and she spends 100% of her fun money while I spend about 30%. Anyway, I invested the rest and initially I gambled and bought ETFs specific to a few sectors I thought were undervalued. Lately, I just dump it into Total Stock Market. My investment does not mirror...
by HopeToGolf
Sun Aug 17, 2014 3:48 am
 
Forum: Investing - Theory, News & General
Topic: Help with investing "fun" money
Replies: 7
Views: 662

Re: RBD here yet? (DOW -300points drop) [Really Bad Day]

Livesoft- Are you suggesting that the RBD puts the Boglehead out of balance enough that the cash comes from fixed income that now composed too high a percentage of the asset allocation? In my case the cash does come from bank accounts, money markets, dividends not yet invested, cash intended for equ...
by HopeToGolf
Sat Aug 02, 2014 9:17 am
 
Forum: Investing - Help with Personal Investments
Topic: RBD here yet? (DOW -300points drop) [Really Bad Day]
Replies: 49
Views: 5249

Re: RBD here yet? (DOW -300points drop) [Really Bad Day]

If one should be fully invested according to one's asset allocation, where does the cash come from to invest when there is a RBD? The question is more rehtorical in nature than a real question but I always think about it when the topic comes up. Do Bogleheads have "dry powder" laying aroun...
by HopeToGolf
Sat Aug 02, 2014 7:16 am
 
Forum: Investing - Help with Personal Investments
Topic: RBD here yet? (DOW -300points drop) [Really Bad Day]
Replies: 49
Views: 5249

Re: investing and debt

To be successful in investing and LBYM you will need to change the way you approach your finances. For example, saving the $25 per month for the college fund does not make sense in your situation. Listen to the good advice offered above.
by HopeToGolf
Sat Jul 05, 2014 8:41 am
 
Forum: Personal Finance (Not Investing)
Topic: investing and debt
Replies: 22
Views: 1447

Re: Building A Financial Safety Net

Nerdicus-

Read the threads in the links above. IBonds, CDs, Roth IRAs, HELOCs, even credit cards can be part of a plan for implementing an Emergency Fund.

I would guess that most Bogleheads are not sitting on 6 months of cash just for emergencies.
by HopeToGolf
Fri Jul 04, 2014 8:29 am
 
Forum: Investing - Help with Personal Investments
Topic: Building A Financial Safety Net
Replies: 4
Views: 551

Re: Timeline for buying a house + Q about central Jersey

During your search make sure you get a sense of the culture of the communities. Some are more or less diverse than others. Some focus more or less on academics. I know people who live in some of the best school districts in the state yet send their kids to private school for one reason or another. Y...
by HopeToGolf
Thu Jun 26, 2014 5:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Timeline for buying a house + Q about central Jersey
Replies: 28
Views: 2499

Re: What is the risk of having too much house

If my income were at your level it would be too much house for me. Do you and your wife expect to work until 62-70? Do you love the area in which you are buying? Can you withstand not having other luxuries (expensive cars, exotic vacations, etc.) your neighbors have? Will your children attend public...
by HopeToGolf
Wed Jun 25, 2014 5:28 am
 
Forum: Personal Finance (Not Investing)
Topic: What is the risk of having too much house
Replies: 51
Views: 4596

Re: How much car can I afford while paying cash? Details ins

Toys4tots16 Do not worry about your peers. It is tough to do but listen to others on this forum. I am a bit older than you and used to feel similarly and can tell you the feeling of deprevation versus your peers will fade. I have people who report to me and I know exactly how much they make and most...
by HopeToGolf
Mon Jun 23, 2014 5:14 am
 
Forum: Personal Consumer Issues
Topic: How much car can I afford while paying cash? Details inside.
Replies: 62
Views: 4226

Re: I Bonds 5.27% interest

Perhaps I-bonds are nothing special. Other kinds of fixed income pay about the same. For instance, I have some TIAA traditional annuity paying 5% nowadays. Guaranteed by the US govt, the ability to cash out at any time (after initial holding period), no federal tax until you cash out (unless you ch...
by HopeToGolf
Sun Jun 22, 2014 8:37 am
 
Forum: Investing - Theory, News & General
Topic: I Bonds 5.27% interest
Replies: 33
Views: 3810

Re: Interest-only mortgage & home-equity loan

This one is easy. Assuming he pays his bills on time and is not over extended, with $240K income he should have no issue borrowing against his home. Other than advising your parents, let him sleep in the bed he made. If he is smart enough to make and keep a $240k year job and keep his house of cards...
by HopeToGolf
Sun Jun 22, 2014 5:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Interest-only mortgage & home-equity loan
Replies: 13
Views: 819

Re: How much to save for college? - a UK twist

I am not sure how the system works but maybe a good approach is to save and borrow. In other words, save money for college but have the child borrow and later evaluate whether or not to use the savings to pay the loan versus using the debt forgiveness program. By the way, what am I missing about thi...
by HopeToGolf
Sat Jun 21, 2014 6:22 am
 
Forum: Investing - Help with Personal Investments
Topic: How much to save for college? - a UK twist
Replies: 7
Views: 640

Re: Next steps after 401k/Roth IRA max

I would go with option 3. The after tax 401K to Roth play will allow you more flexibility in the long run in terms of tax savings and it can be used for college. If you can max that account (52K - employee pretax, employee after tax, employer match) then start funding the 529 plan. This may also pre...
by HopeToGolf
Wed Jun 18, 2014 5:48 am
 
Forum: Investing - Help with Personal Investments
Topic: Next steps after 401k/Roth IRA max
Replies: 7
Views: 863

Re: How to handle maxing a 401k with unknown bonus amount

Yes it can be fixed. You will need to find out if her employer will continue matching contributions if she maxes out the employee pretax contribution amount (17.5K). At my company the match stops when the employee stops contributing. We have a "spillover" option which changes the employee ...
by HopeToGolf
Wed Jun 18, 2014 5:15 am
 
Forum: Investing - Help with Personal Investments
Topic: How to handle maxing a 401k with unknown bonus amount
Replies: 9
Views: 910

Re: Help with wife's student loans

It seems you have discussed having children but I encourage you to do so in detail. Will she work after they are born? What about daycare costs/nannies? If she does not plan to work, will you be paying her loans and yours? The long and short of this is make sure the two of you have a plan for paying...
by HopeToGolf
Tue May 27, 2014 4:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with wife's student loans
Replies: 21
Views: 2610

Re: Pre-nup at only $1M networth, do I need it?

Do you "need" one...No...Is it reasonable to want one...Yes. At a minimum, it will start a discussion regarding financial expectations. For example, with $250K in student loan debt what is her plan to pay that back. Did she expect that once married you both would be working on it with curr...
by HopeToGolf
Mon May 26, 2014 10:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Pre-nup at only $1M networth, do I need it?
Replies: 199
Views: 13084

Re: Husband just lost job

Relax. It may not seem that way but it sounds like you and your family are well prepared for this. Immediately figure out what expenses can be cut and how long the emergency funds will last (assuming you only make $800). Set the plan into motion and have your husband take a week off to get mentally ...
by HopeToGolf
Sun May 25, 2014 6:10 am
 
Forum: Personal Finance (Not Investing)
Topic: Husband just lost job
Replies: 60
Views: 6729

Re: declining job due to travel

In this type of situation I try to examine a worse but potentially likely alternative an decide if it is acceptable. If you say no, your career could stagnate or lose your job. At my Megacorp, that is what would likely happen. Our leaders would view this as an "easy" way for the company to...
by HopeToGolf
Sun May 25, 2014 5:36 am
 
Forum: Personal Finance (Not Investing)
Topic: declining job due to travel
Replies: 92
Views: 12209

Re: deferred comp plans

2. If I leave before my income is low, it seems my contributions and gains will be taxed at my marginal rate. In the case of the capital gains, this would be significantly higher than the rate I would have paid in a taxable account. I haven't done the math yet. It is sometimes hard to grasp (I know...
by HopeToGolf
Sun Apr 13, 2014 3:52 am
 
Forum: Personal Finance (Not Investing)
Topic: deferred comp plans
Replies: 20
Views: 1877

Re: deferred comp plans

I am also evaluating whether or not to use my deferred comp plan. Here are my concerns with our structure: 1. Unless you are 55 when you leave the company, the account balance is paid as a lump sum. This could be a wash from a tax standpoint depending on the size of the account and the marginal rate...
by HopeToGolf
Sat Apr 12, 2014 6:31 am
 
Forum: Personal Finance (Not Investing)
Topic: deferred comp plans
Replies: 20
Views: 1877

Re: Do I take the separation package offer?

This decision is easy, try to negotiate more and take the final offer and leave. You worked at the company for XX number of years. If you have not contributed what you wanted to in order to leave the impression you desire, working an extra year in a downsized company is unlikely to give you the oppo...
by HopeToGolf
Tue Apr 08, 2014 5:54 am
 
Forum: Personal Finance (Not Investing)
Topic: Do I take the separation package offer?
Replies: 52
Views: 5620

Re: How am I doing - stress check UPDATED with INFO

Take another look at your expenses and how you spent your money in the last 3 years. Here is one way to look at it (very rough)... Income: 1.5 million (500k x 3) Taxes: 600k (40%) Cash: 900k Expenses: 225k (call it 75k per year) Remodel: 250k Remaining cash: 425k Can you account for 425k? The tax es...
by HopeToGolf
Sat Apr 05, 2014 5:12 am
 
Forum: Investing - Help with Personal Investments
Topic: How am I doing - stress check UPDATED with INFO
Replies: 14
Views: 2118

Re: Counting equity in house in calculating retirement withd

There is no "right" answer. If you want to include the impact of owning a home on withdrawal amounts, using FireCalc, add the variable where you get an inflow of value (use the inflated value of the home sale after taxes and fees). You would need to subsequently add a recurring expense for...
by HopeToGolf
Sat Mar 22, 2014 3:52 am
 
Forum: Investing - Theory, News & General
Topic: Counting equity in house in calculating retirement withdrawa
Replies: 41
Views: 2358

Re: Combining Backdoor Roth With After-Tax 401K Conversion

When calculating the amount you will contribute, do not forget employer contributions also count against the $52K max.
by HopeToGolf
Sat Mar 15, 2014 3:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Combining Backdoor Roth With After-Tax 401K Conversion
Replies: 9
Views: 770

Re: 529, max 529, mortgage payoff, or taxable

If you have access to the backdoor Roth using after-tax contributions and in-service withdrawals, I would max that. It would give the most flexibility in terms if emergencies, withdrawals for tuition and retirement. If you have money left over, the 529 makes sense too. I would leave the mortgage alo...
by HopeToGolf
Mon Mar 10, 2014 4:51 am
 
Forum: Personal Finance (Not Investing)
Topic: 529, max 529, mortgage payoff, or taxable
Replies: 6
Views: 893

Re: Joint or Separate Accounts? - Married Couples

His, Hers and Ours Separate accounts - 401K, Roth, "Allowance" Checking (we each get an allowance that can be spent how we choose) Combined - Taxable investments, savings, checking, mortgage, etc. Essentially everything goes into the joint accounts except the allowance money. One caveat, I...
by HopeToGolf
Sat Mar 08, 2014 8:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Joint or Separate Accounts? - Married Couples
Replies: 82
Views: 3956

Re: 529 contributions and future tuition costs

ERMD Thanks for sharing. I ran a similar analysis and came up with similar results for education starting roughly 10 years from now. Can you share the 2013/2014 cost to attend for each class of university in your model? I think it would be helpful to give the readers a sense of today's cost. Thanks.
by HopeToGolf
Mon Mar 03, 2014 5:20 am
 
Forum: Investing - Help with Personal Investments
Topic: 529 contributions and future tuition costs
Replies: 46
Views: 2923

Re: Japan, 1989

Bpp Thank you for posting this. While I do not know enough about the U.S. economy past, present and future compared to that of Japan, this type of post is helpful for me to keep in mind anytime I think about my international equity allocation versus being 100% U.S. In other words, diversification wo...
by HopeToGolf
Sun Mar 02, 2014 1:30 pm
 
Forum: Investing - Theory, News & General
Topic: Japan, 1989
Replies: 118
Views: 26007

Re: Skip IRA for 1 year to buy engagement ring

1) Figure out if you and your girlfriend are financially compatible...talk about finances and the future. What are her dreams, desires, expectations (rich and famous, frugal, SAHM, rent for a while or new big house, etc.) My wife and I attended group religious classes before we got married and when ...
by HopeToGolf
Sat Feb 22, 2014 9:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Skip IRA for 1 year to buy engagement ring
Replies: 194
Views: 13741

Re: Wanting to know if this financial situation is feasible

zippy69- To clearly answer the question in the original post, the $2.5MM (which btw, you will not get after taxes so have your husband check the math) is probably not enough to live on for the rest of your life with the lifestyle you may expect ($500K house and what goes with it mentally). You menti...
by HopeToGolf
Wed Feb 19, 2014 1:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wanting to know if this financial situation is feasible
Replies: 73
Views: 5243

Re: Dual Income Family Emergency Fund Help

When we could not afford to do everything (huge emergency fund and max retirement) we maxed our retirement and savings. Learn the withdrawal rules and fund transfer processes of your favorite retirement and savings vehicles and use them for your emergency fund before stockpiling cash. We maxed our R...
by HopeToGolf
Sun Feb 16, 2014 8:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Dual Income Family Emergency Fund Help
Replies: 11
Views: 1383

Re: $10+ M, age 49, seeking wisdom regarding retirement

What is your exit plan for your business? If your plan is to walk and let it die, is it possible to hire someone to replace you and run the business? You can then collect part of the profit and "work" differently as a manager/owner albeit a partially retired one. Of course, a better idea m...
by HopeToGolf
Fri Feb 07, 2014 6:48 am
 
Forum: Personal Finance (Not Investing)
Topic: $10+ M, age 49, seeking wisdom regarding retirement
Replies: 58
Views: 8241

Re: 401(k) In-Plan Roth Conversion of After-Tax Money

I now understand that I can roll over my aftertax 401k contributions into my Roth IRA as long as I don't exceed any rollover plan limit. Theoretically that could be as much as 52,000. Instead of doing a taxable conversion of the aftertax 401k growth, how about just leaving it in the after tax plan?...
by HopeToGolf
Mon Jan 20, 2014 7:10 am
 
Forum: Investing - Help with Personal Investments
Topic: 401(k) In-Plan Roth Conversion of After-Tax Money
Replies: 76
Views: 5959

Re: Affording stay at home parent

Another option to consider is having your wife find a company with a flexible work policy. Maybe she can get a job that will allow her to work a schedule that gets her home by the time school is out.
by HopeToGolf
Mon Jan 20, 2014 6:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Affording stay at home parent
Replies: 74
Views: 7475

Re: dramatically increase 529 savings?

Hi, we've saved enough money to fully fund our 3 kids college educations. One is a college freshman, one a hs junior and the youngest is a hs freshman. I currently have about $50k/child in the NY 529 plan. Thinking maybe I should move $50k per child into the 529 plan so it can grow tax free? though...
by HopeToGolf
Mon Jan 20, 2014 12:13 am
 
Forum: Investing - Help with Personal Investments
Topic: dramatically increase 529 savings?
Replies: 6
Views: 1049

Re: 401(k) In-Plan Roth Conversion of After-Tax Money

The plan seems sound. I've done this for two years in a row and now into my third year with this tactic.
by HopeToGolf
Sun Jan 19, 2014 10:40 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401(k) In-Plan Roth Conversion of After-Tax Money
Replies: 76
Views: 5959

Re: Creating a Budget

I used Quicken to track all my expenses and looked at inflows and outflows and determined if I could reach my financial goals. I tweaked and adjusted the money I spent on various items based on what "felt" right and what was "needed." With Mint and other sites out there, if you c...
by HopeToGolf
Sun Jan 19, 2014 7:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Creating a Budget
Replies: 38
Views: 2760

Re: Do you invest in a taxable account?

We max our tax advantaged accounts and have a taxable account. However, even before we started maximizing tax deferred we had a taxable account which was used for medium/long term savings (car, house down payment, etc.). What we put into that account many Bogleheads would have held in cash/CDs.
by HopeToGolf
Sat Jan 11, 2014 8:56 am
 
Forum: Investing - Theory, News & General
Topic: Do you invest in a taxable account?
Replies: 111
Views: 7602

Re: Official 2014 IRA is done. Sign-up

I like the feeling of being "done." In this case, there is no known advantage to waiting. The I-bonds are a slightly different story...in that case, I made the purchase but I could try to anticipate inflation and a higher fixed rate in May but frankly who the heck knows what will happen an...
by HopeToGolf
Wed Jan 01, 2014 9:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: Official 2014 IRA is done. Sign-up
Replies: 47
Views: 2813

Re: I-Bonds role in a portfolio?

I've always been curious to those that regularly invest in I-bonds if they carry a mortgage or not. I bought 10k I-bonds last year, but am thinking I may put that 10k towards our mortgage this year. Maybe an every other year sort of thing to hedge my bets. My mortgage rate is 2.75% and I buy I-Bond...
by HopeToGolf
Wed Jan 01, 2014 8:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: I-Bonds role in a portfolio?
Replies: 37
Views: 3402

Re: Things to do in January?

Contribute maximum to the Traditional IRA and use the backdoor into the Roth IRA
Buy I-Bonds
Start saving for the tax bill
by HopeToGolf
Wed Jan 01, 2014 7:17 pm
 
Forum: Investing - Theory, News & General
Topic: Things to do in January?
Replies: 27
Views: 3221

Re: Seeking Advice on College, Retirement and Tactics

I agree on the suggestion to use FireCalc it is pretty user friendly and allows for many variables. I have not run the math but I would think you can easily retire in 2-3 years. I am estimating since I've used similar numbers in the past to plan. Once you bake in SS and spousal SS coming in and redu...
by HopeToGolf
Tue Dec 31, 2013 9:28 am
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Advice on College, Retirement and Tactics
Replies: 5
Views: 564

Re: College savings for a high-income household

Yes fund the 529. If you do really well and do not need the money, the worst case is you keep it as part if your estate and it gets passed to your kids and used as a college fund for your grand kids or great grand kids. While the 529 for most people does not provide a life changing tax benefit, I th...
by HopeToGolf
Tue Dec 31, 2013 7:49 am
 
Forum: Investing - Help with Personal Investments
Topic: College savings for a high-income household
Replies: 46
Views: 4827

Re: Do you ever feel you are being too frugal?

For us it is about being mindful and intentional with our choices. For the OP, I think you know the path that you should explore next; and remember that if whatever you choose doesn't fit quite right for you then you can modify your behaviors going forward. Experiment a bit. Our choices are not nec...
by HopeToGolf
Tue Dec 31, 2013 6:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you ever feel you are being too frugal?
Replies: 65
Views: 5273

Re: Robbing the emergency fund to start a Roth...?

Using the Roth instead of building emergency funds is something we did as we were accelerating our savings (maxing out on tax deferred contributions) and dealing with large expenses. For us, the question was what emergencies were we contemplating. Replacing a water heater was an "emergency"...
by HopeToGolf
Sun Dec 29, 2013 9:52 am
 
Forum: Investing - Help with Personal Investments
Topic: Robbing the emergency fund to start a Roth...?
Replies: 23
Views: 2602

Re: 'Play' Money

I understand that it's a little hard to answer a hostile question, and since I don't "get" the concept of "play" money I can't conceal a certain degree of disapproval, but I really wish that the people who do use "play" money would speak to the nature of the "fun&...
by HopeToGolf
Sat Dec 28, 2013 12:53 pm
 
Forum: Investing - Theory, News & General
Topic: 'Play' Money
Replies: 95
Views: 7045

Re: 'Play' Money

I do. Part of my "allowance" is intended to be used for hobbies, fun money, entertainment, etc. Even with this I LBYM and have more than I need. Once or twice a year the extra goes into the market. The funny thing is most of it is in a broad market ETF. Yes I consider it play money but it ...
by HopeToGolf
Sat Dec 28, 2013 10:08 am
 
Forum: Investing - Theory, News & General
Topic: 'Play' Money
Replies: 95
Views: 7045
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