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Re: POLL: why carry cash?

I keep cash and an extra credit card in my car, which comes in handy when I forget to carry my wallet (as in standing in the grocery check out line with items running through and I reach for my wallet and ... oops .....)
by J295
Sun Apr 20, 2014 10:10 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: why carry cash?
Replies: 225
Views: 7607

Re: Live Now, Live Later?

A little over a year ago at age 53 I transitioned from full time part owner of a professional practice to modest part time status. My colleagues supported me 100%, but it was outside of most of their "work to 65+ mindset." My spouse and I spent years planning from both a financial and a li...
by J295
Fri Apr 18, 2014 3:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Live Now, Live Later?
Replies: 37
Views: 3650

Cost plus vs. bid for residential renovation

We are undertaking a substantial residential real estate renovation. We have architect plans for portions of the work and fairly detailed specifications. Inevitably items will present themselves during construction that were not considered, especially since this is a renovation. What would be your a...
by J295
Thu Apr 17, 2014 10:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cost plus vs. bid for residential renovation
Replies: 1
Views: 267

Re: Just had offer accepted on a house! (Advice pls!)

Assuming your accepted offer is pending inspection - hire a good inspector and have him nitpick the hell out of everything and attach a high dollar amount to every fix. Then use that info to pound the sellers into an even lower price. Once they are informed of defects, make sure you tell them they ...
by J295
Wed Apr 16, 2014 9:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Just had offer accepted on a house! (Advice pls!)
Replies: 29
Views: 2119

Re: solo 401k

Take a look at Fidelity's online calculator in the retirement section on its site.
by J295
Mon Apr 14, 2014 12:51 am
 
Forum: Investing - Help with Personal Investments
Topic: solo 401k
Replies: 16
Views: 874

Re: I accidentally discovered a coworkers salary... now what

Is envy getting the better of me? Should I be more grateful for what I have? Or do I have a legitimate concern about my compensation? If so, how does that get resolved? You may consider sitting silently with these and related questions for some time every day for a week or two, say 15- 30 minutes p...
by J295
Sat Apr 05, 2014 8:38 am
 
Forum: Personal Finance (Not Investing)
Topic: I accidentally discovered a coworkers salary... now what?
Replies: 59
Views: 5509

Re: Buying for someone who "has everything"

I enjoy receiving small framed pictures of family that we can set around our home (and my office when I was full time). A take off on this were drink coasters with different pictures of the kids on the coasters, and travel tags with pictures of the family. Also, coffee shop gift cards are always wel...
by J295
Sat Apr 05, 2014 8:28 am
 
Forum: Personal Consumer Issues
Topic: Buying for someone who "has everything"
Replies: 43
Views: 2308

Re: is the Mayo clinic is the best in America ????

As a long time board member of an excellent local hospital, and a patient who had successful cancer surgery at Mayo, I'd say "it depends" on your needs and available options. In my personal situation, I wanted a physician who had done numerous procedures of the type I elected. That was ava...
by J295
Thu Apr 03, 2014 5:46 pm
 
Forum: Personal Consumer Issues
Topic: Mayo clinic is the best clinic in America ??
Replies: 30
Views: 2768

Re: Expensive hobbies and possessions? (B/c you can...)

Created tons of great memories ..... Had a goal to visit all 50 states before the youngest graduated from high school. Had some duplication due to sports trips and trips with extended family, then overseas trips to visit older siblings studying abroad. Youngest has now graduated college, and we made...
by J295
Mon Mar 31, 2014 9:48 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 9244

Creating FSBO Website

We will be selling our home and would appreciate recommendations for a DIY website builder we can use. We are very comfortable creating the content. Thanks!
by J295
Mon Mar 17, 2014 9:51 am
 
Forum: Personal Finance (Not Investing)
Topic: Creating FSBO Website
Replies: 0
Views: 119

Re: Did you retire in your 30s?

A bit random here, but some of the dialogue reminds me of a time I met a young sports personality who was between jobs (subsequently became a tv/radio commentator). I though he had a very witty reply when someone in our group said hey Joe what are you doing now he replied -- "living in Chicago ...
by J295
Fri Mar 14, 2014 9:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Did you retire in your 30s?
Replies: 55
Views: 5309

Re: Selling my house to friends

We have personal experience with sales with friends and they have worked fine. Having said that, it is certainly not for everyone, and there are some friends I might be very reluctant to do business with. In our cases all parties involved were sophisticated business people who understood the inheren...
by J295
Wed Mar 12, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Selling my house to friends
Replies: 12
Views: 1593

Re: Health Care Act question about 2014????

As others have noted, it appears you are not bound by the March 31 open enrollment deadline, which makes sense. I haven't researched it to confirm, but that is my understanding. When I transitioned we used COBRA for one year and then signed up through the ACA effective 1-1-14. We choose a HDP (high ...
by J295
Wed Mar 12, 2014 6:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Health Care Act question about 2014????
Replies: 5
Views: 343

Re: Preparing to retire checklist

How exciting for you .... do you have a firm last day? Best regards.
by J295
Wed Mar 12, 2014 6:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Preparing to retire checklist
Replies: 89
Views: 7458

Re: HUGE retirement decision.

Without running various scenarios with assumed dates of death for each of you I can't determine which option might be optimal from a financial perspective. If it were me I'd run these scenarios to have hard numbers to evaluate. I'd be curious for example, what the numbers show if party 1 dies in fiv...
by J295
Sun Mar 09, 2014 10:52 am
 
Forum: Personal Finance (Not Investing)
Topic: HUGE retirement decision.
Replies: 71
Views: 6005

Re: House going to auction. Should I make offer?

In my world this is a material transaction for which I'd recommend you involve experienced professionals to assist you. Personally, I would not pursue something like this without deep pockets and deep due diligence. Depending on the facts these might include a title company, contractor, structural e...
by J295
Sat Mar 08, 2014 9:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: House going to auction. Should I make offer?
Replies: 25
Views: 1689

Re: Can I retire yet?

Chan's comment resonates with me; and I appreciate the other insights too. Some things I'm really inspired by with Sinbad's postings .... They have a home that is an expression of their family. What a great environment to share lives and lay down your heads at night. A pension AND social security. C...
by J295
Sat Mar 08, 2014 6:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I retire yet?
Replies: 85
Views: 5814

Re: Staying the Course has never been harder

Read and follow your IPS.
Repeat if necessary.

Then go outside and have a grand day!
by J295
Sat Mar 08, 2014 3:11 pm
 
Forum: Investing - Theory, News & General
Topic: Staying the Course has never been harder
Replies: 45
Views: 4647

Re: Where is the market heading?

Are you experiencing similar uncertainty?


No. My IPS, experience (including making mistakes), and life perspective allow me to ignore most situations like the one you reference (if you are not familiar with the IPS see http://www.bogleheads.org/wiki/Investme ... _Statement)
by J295
Sat Mar 08, 2014 2:53 pm
 
Forum: Investing - Theory, News & General
Topic: Where is the market heading?
Replies: 28
Views: 1455

Re: Can I retire yet?

Hi Sinbad. What an exciting time for you and your wife. Best of luck. For us, making the decisions you are making involved not just financial matters, and we are very pleased with the adventure to date (transitioned from full time to very flexible part time at age 53). It took a number of years for ...
by J295
Sat Mar 08, 2014 2:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I retire yet?
Replies: 85
Views: 5814

Re: Safest Way to Send Money to IRS?

For our personal payments I have always used "regular" mail with no problems. For extra peace of mind you can send U.S. certified. I haven't used it, but here is the link for electronic payment. I pay most bills electronically, so I'll need to take a look at this: http://www.irs.gov/uac/Pa...
by J295
Sat Mar 08, 2014 2:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safest Way to Send Money to IRS?
Replies: 35
Views: 1588

Re: Retirees: About your retirement

Answer: Goal that my wife and I worked on together to achieve and implement.
by J295
Fri Mar 07, 2014 10:13 pm
 
Forum: Investing - Theory, News & General
Topic: Retirees: About your retirement
Replies: 55
Views: 5496

Re: Two commas...

Congratulations. Best wishes with your ongoing journey, financial and otherwise.
by J295
Fri Mar 07, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Two commas...
Replies: 32
Views: 3213

Re: Need help buying health insurance

The process is admittedly challenging. You may consider trying to locate a trustworthy local agent to help you choose a plan. I understand from personal experience that some agents will assist in this process inasmuch as they can be designated as agent of record with the insurance company and receiv...
by J295
Thu Mar 06, 2014 3:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Need help buying health insurance
Replies: 30
Views: 1368

Re: What to say to Non-Savers

What to say? Probably nothing. I'm glad to offer perspectives to friends who genuinely want to know my thoughts, but usually only when asked. IMHO, you are wise to seek the "middle path." You may find your self with great options 20 years from now resulting in part from your prudent saving...
by J295
Mon Mar 03, 2014 12:54 am
 
Forum: Personal Finance (Not Investing)
Topic: What to say to Non-Savers
Replies: 71
Views: 5181

Re: Please help with my SUV purchase

Don't know if you'd consider 2014, but the Acura MDX gets very high marks.
by J295
Mon Mar 03, 2014 12:34 am
 
Forum: Personal Consumer Issues
Topic: Please help with my SUV purchase
Replies: 40
Views: 2408

Re: How much is a fair hourly fee?

$250 -$350 is reasonable for a seasoned advisor.
by J295
Sun Mar 02, 2014 11:39 pm
 
Forum: Investing - Theory, News & General
Topic: How much is a fair hourly fee?
Replies: 86
Views: 4844

Re: Anyone ever buy Masters tickets in Augusta?

The advice to go there and purchase tickets is reasonable (and you can also check the online sources at that time too). I had practice tickets a few years ago, which I obtained through the Masters lottery (you may wish to enter the lottery this year). As it worked out I couldn't make the trip, so I ...
by J295
Sat Mar 01, 2014 2:37 pm
 
Forum: Personal Consumer Issues
Topic: Anyone ever buy Masters tickets in Augusta?
Replies: 17
Views: 1526

Re: Allan Roth on "Richest Guy in the Graveyard"

Fallible -- Thanks for posting this.
Allan and the other posters -- Enjoyed the sharing.
All -- Carpe Diem.
by J295
Sat Mar 01, 2014 2:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Allan Roth on "Richest Guy in the Graveyard"
Replies: 53
Views: 6475

Re: Do we have enough to retire?

When I observe myself being what I consider "too conservative" I recall a statement from an early retiree .... "If you want a guarantee buy a Sears battery."

Ready, aim, aim again if necessary, fire ....
Not ready, aim, aim, aim, aim, aim .......
by J295
Thu Feb 27, 2014 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do we have enough to retire?
Replies: 106
Views: 11992

Re: Which Agency Would You Favor? [Selecting financial advis

Great advice by the responders -- put the $$ into a CD and get educated over the next year, then implement a plan and "stay the course."
by J295
Tue Feb 25, 2014 9:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which Agency Would You Favor? [Selecting financial advisor]
Replies: 9
Views: 641

Re: Giving newborn head start on retirement

What an awesome parent you are to try and give your child this great head start. A couple of things you might consider. You could set up an investment account in your own name knowing that it is intended for your child. Then you can use it for her/him for any variety of things, including matching gi...
by J295
Tue Feb 25, 2014 8:21 pm
 
Forum: Investing - Help with Personal Investments
Topic: Giving newborn head start on retirement
Replies: 23
Views: 2164

Re: Money or Fulfillment?

Great question. Makes me recall the movie Field of Dreams. I will be interested in the various responses. Of course, only you can answer the question you pose. Your wife and good friends may have excellent insights for you. In my situation, I enjoyed the people I worked with and the flexibility and ...
by J295
Mon Feb 24, 2014 11:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Money or Fulfillment [quit unsatisfactory job]?
Replies: 20
Views: 1503

Re: Do children become less expensive as they grow up?

No, but that's ok, You might consider giving them a stipend every 6 months when they reach a certain age. We gave stipends every 6 months from age 13 through college in amounts that we thought were sufficient for them to enjoy a certain lifestyle and have extra left over for saving. The idea (which ...
by J295
Mon Feb 24, 2014 10:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do children become less expensive as they grow up?
Replies: 93
Views: 6515

Re: How to Convert Someone That Doesn't Want to Be Converted

You are a good friend in trying too help him. Money is a poor master and a good servant. It seems your friend has chosen, at least for now, to have money serve him in the manner you have described (which doesn't make financial sense to you). He is apparently making an intentional choice, which is hi...
by J295
Mon Feb 24, 2014 7:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Convert Someone That Doesn't Want to Be Converted
Replies: 50
Views: 2970

Re: Free flights with Credit Card offers

Periodically we get cards to get miles for flights. I don't know the effect on credit, but fortunately that is not a material concern as we have not had any debt for years and don't expect that to change. I do know that we have not been denied credit cards for which we have applied. We are 54 years ...
by J295
Mon Feb 24, 2014 6:04 pm
 
Forum: Personal Consumer Issues
Topic: Free flights with Credit Card offers
Replies: 19
Views: 1474

Re: Would you file a state tax return amendment for $300?

Yes; then for the next 15 pizzas we eat I'd say to myself I love "free" pizza!
by J295
Sat Feb 22, 2014 8:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Would you file a state tax return amendment for $300?
Replies: 20
Views: 1200

Re: How to Increase Charitable Giving?

I read your question as what can you do to modify your behavior to increase your giving. You may consider: a. Giving to one or more of your selected charities weekly (it feels easier to give X weekly than give 52X in December, plus it trains you to perform a behavior you have decided to implement). ...
by J295
Sat Feb 22, 2014 8:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to Increase Charitable Giving?
Replies: 26
Views: 1411

Re: The Estate lawyer cost us big

Note: I am a lawyer.

To the OP: Have you considered an in person meeting to discuss your perceptions and fee concerns with legal counsel? For a number of reasons I'd recommend doing so.

Best of luck.
by J295
Fri Feb 21, 2014 7:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Estate lawyer cost us big
Replies: 109
Views: 8898

Re: Remodeling Options

Very helpful thoughts from all the responders. Thanks!
by J295
Tue Feb 18, 2014 3:17 pm
 
Forum: Personal Consumer Issues
Topic: Remodeling Options
Replies: 8
Views: 793

Re: Remodeling Options

Not sure what you mean by "remodel". Are you adding on, moving walls, making structural changes, etc?


Structure is sound. Moving one interior non load-bearing wall. "Remodel" is new wood flooring, new paint, and kitchen and master bath complete overhauls.
by J295
Tue Feb 18, 2014 11:15 am
 
Forum: Personal Consumer Issues
Topic: Remodeling Options
Replies: 8
Views: 793

Remodeling Options

We received a general contractor bid for a significant remodel and it is substantially more than we'd like to spend. We can afford it, but we're fiscally conservative (surprise). We have worked with the general previously and we suspect a second bid from another good contractor would not be material...
by J295
Tue Feb 18, 2014 10:22 am
 
Forum: Personal Consumer Issues
Topic: Remodeling Options
Replies: 8
Views: 793

Re: Estate Planning- Attorney fees $5.5K

I am hesitant to pay $3,000 - $5,000 for a selection of boilerplate documents. And maybe I am dealing with "cheap" lawyers, but I have yet to see anything that didn't look like a "copy and paste" job I think most good documents do look like a selection of boilerplate clauses, an...
by J295
Fri Feb 14, 2014 9:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning- Attorney fees $5.5K
Replies: 34
Views: 3924

Re: Transitioning when one hits "the number"

Hit our "number" and took a few years to get comfortable with financial and non-financial matters, then transitioned to part time at age 53. All three kids have graduated and are financially independent. No major changes in our saving and spending, although we are moving from our home to a...
by J295
Thu Feb 13, 2014 12:12 am
 
Forum: Investing - Help with Personal Investments
Topic: Transitioning when one hits "the number"
Replies: 72
Views: 5114

Re: Wells Fargo or Fidelity brokerage?

I believe the advice on liquidating the stock is quite prudent.

We have experiences with Wells Fargo, Fidelity, and Vanguard. After 32 years at Fidelity I give them the highest possible ratings for customer service.

Good luck!
by J295
Wed Feb 12, 2014 7:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wells Fargo or Fidelity brokerage?
Replies: 16
Views: 1232

Re: Estate Planning- Attorney fees $5.5K

Disclosure -- I am a lawyer (now part time). The reasonableness of the fee depends on a number of factors, including exactly what services will be provided. For example, does it include handling all beneficiary designations and titling of assets into the revocable trusts (as well as transferring tit...
by J295
Wed Feb 12, 2014 7:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Estate Planning- Attorney fees $5.5K
Replies: 34
Views: 3924

Re: Retire by 55?

Hi Lisa. There are a lot of good comments, so I'll restrict mine to just a couple for your consideration. Health care. If you haven't already done so go through the process for Affordable Care Act coverage. You may be eligible for subsidies and reduced co-pay/deductibles. Fidelity vs. Vanguard. We h...
by J295
Mon Feb 10, 2014 9:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retire by 55?
Replies: 41
Views: 5109

Re: Do I need an accountant?

I suspect turbo tax would work fine, but can't say because I have only used it to help out our children. We used an accountant when I had partnership K-1 income, and still use him now that I've transitioned out of the partnership to of counsel status. I could have dug in and done the returns on turb...
by J295
Tue Feb 04, 2014 7:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I need an accountant?
Replies: 19
Views: 1188

Re: How do you treat collectibles? [as part of asset allocat

We have a lot of coins and sports cards from my collecting days as a youth, but they've been sitting in boxes for decades and we don't include them in our financial analysis. Also have boxes of Beanie Babies from the kids enjoying that particular craze (no Dutch tulip bulbs though). Anyone want to b...
by J295
Sun Feb 02, 2014 11:22 am
 
Forum: Investing - Theory, News & General
Topic: How do you treat collectibles? [as part of asset allocation]
Replies: 29
Views: 1492

Re: Keeping track of expenses, early retirement?

In calculating your health care costs will you eventually obtain coverage through the ACA, and if so will you be eligible for subsidies? I have a pm for you with our detailed budget categories in case you are interested. Best of luck!
by J295
Sun Feb 02, 2014 10:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Keeping track of expenses, early retirement?
Replies: 32
Views: 3547
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