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Re: Worth buying a smart phone if you already have one for w

I'd suggest you carry two cellphones, have the personal one off and in your jacket pocket or desk when at work. I bought this phone from Walmart: http://www.walmart.com/ip/36202753?wmlspartner=wlpa&adid=22222222227024988264&wl0=&wl1=g&wl2=c&wl3=40300223432&wl4=&wl5=pla&am...
by MathWizard
Thu Mar 26, 2015 12:33 pm
 
Forum: Personal Consumer Issues
Topic: Worth buying a smart phone if you already have one for work?
Replies: 10
Views: 332

Re: 74% of car loans are subprime.

Here is a Bloomberg article from Nov 2013 on sub-prime loans for NEW cars. The article cites only 27%, but again this is only NEW car sales. I could see three driving factors on the buyer's side: 1) A reliable car is needed to get to most jobs unless you live in a city with very good public transit....
by MathWizard
Thu Mar 19, 2015 11:17 am
 
Forum: Personal Finance (Not Investing)
Topic: 74% of car loans are subprime.
Replies: 29
Views: 1996

Re: Poll: When to pay down debt rather than invest

Cash flow can be an argument against paying down debt when looking at a mortgage,
especially if you cannot fully pay off the loan. Mortgages are also typically a low rate,
lower than what you could expect to make long term in stocks.
by MathWizard
Mon Mar 16, 2015 6:47 pm
 
Forum: Investing - Theory, News & General
Topic: Poll: When to pay down debt rather than invest
Replies: 49
Views: 3874

Re: My Greatest Weakness.

I don't use a question like this in interviews. I like ones that demonstrate 1) Trust-worthiness 2) Ability to work in a team or with other people. 3) Ability to learn 4) Ability to do the job If your greatest weakness does not fall into one of these categories, it isn't that important. The "do...
by MathWizard
Mon Mar 16, 2015 1:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: My Greatest Weakness.
Replies: 37
Views: 5598

Re: when did/would you terminate disability insurance?

I get LTD through my employer, and two colleagues have needed it. I plan to keep LTD until I retire. I could probably drop it 2 or 3 years prior to retirement, but 2-3 years of premiums is not a major cost. My LTD does not kick in for 90 days, so that may help keep costs low. For me it seems cheap c...
by MathWizard
Sun Mar 15, 2015 2:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: when did/would you terminate disability insurance?
Replies: 35
Views: 2637

Re: Roth IRA married limits

When you are married, there is no such thing as your individual MAGI. There is only your joint MAGI, since you are filing taxes jointly. Since your joint MAGI is over $191,000 , neither of you is eligible to contribute to the Roth IRA. Thus, you have excess Roth IRA contributions. You should withdr...
by MathWizard
Sun Mar 15, 2015 1:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Roth IRA married limits
Replies: 13
Views: 1006

Re: What won't you pay for with your Credit Card?

I pay for very little with CC I consider it a 2 to 4% tax on all purchases. I can't figure the logic in this, or the math wizardry involved? Everything is a tax on purchases. Their rent, the salaries they pay, the insurance to cover you if you fall on their premises. It's called G&A. But if the...
by MathWizard
Sat Mar 14, 2015 11:15 pm
 
Forum: Personal Consumer Issues
Topic: What won't you pay with Credit Card?
Replies: 77
Views: 8050

Re: When cash flow/liquidity was no longer primary concern

The former, where you worried about cash-flow, I would call paycheck-to-paycheck, or hand-to-mouth. Cash-flow is almost always a concern, which is why and Emergency Fund is recommended. The turning point on that is when you realize you no longer need an EF, because you are well past Financially Inde...
by MathWizard
Fri Mar 13, 2015 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: When cash flow/liquidity was no longer primary concern
Replies: 8
Views: 1012

Re: Boglehead degree status

Please correct me if I am wrong.

For TLH, one would need taxable accounts.

Isn't it preferable to hold retirement funds in tax advantaged accounts?

So if a person can't max out available tax advantaged accounts, they can't get
above Bachelor's status?
by MathWizard
Fri Mar 13, 2015 10:44 am
 
Forum: Local Chapters and Bogleheads Community
Topic: Boglehead degree status
Replies: 52
Views: 4830

Re: What won't you pay for with your Credit Card?

I pay for very little with CC I consider it a 2 to 4% tax on all purchases. I do use it for large purchases for cash flow. ok I'll bite... how is it a tax in your situation? Merchants have to pay a fee on all CC transactions. With few exceptions, the CC companies do not allow differential pricing, ...
by MathWizard
Thu Mar 12, 2015 9:19 pm
 
Forum: Personal Consumer Issues
Topic: What won't you pay with Credit Card?
Replies: 77
Views: 8050

Re: What won't you pay for with your Credit Card?

I pay for very little with CC

I consider it a 2 to 4% tax on all purchases.

I do use it for large purchases for cash flow.
by MathWizard
Thu Mar 12, 2015 7:54 pm
 
Forum: Personal Consumer Issues
Topic: What won't you pay with Credit Card?
Replies: 77
Views: 8050

Re: Parents:Have you had any luck teaching your kids about m

It's comforting to see not only the practical strategies you've all employed in teaching your kids about money/finance but also the "money does not equal happiness" sentiments that many of you have expressed. I desperately want to impart the notion that there is more to life than material...
by MathWizard
Wed Mar 11, 2015 4:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Parents:Have you had any luck teaching your kids about money
Replies: 40
Views: 2631

Re: Long Term Care and Taxes

Thanks all for your comments. I hadn't considered all of these. I will be one of those who will be dragged (wheeled) into a nursing home. We plan to get a much more accessible and elderly friendly house/apt. before we retire, so that we do not have to enter a nursing home any earlier than absolutely...
by MathWizard
Wed Mar 11, 2015 3:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long Term Care and Taxes
Replies: 8
Views: 1006

Re: When does market timing make sense?

I'm not sure it ever makes sense, unless re-balancing on huge drops in the equities market, per my IPS is considered market timing. (I can't say that this is ideologically pure re-balancing. Though I am re-balancing, I do think of it as buying stocks "on sale".) My definition of turbulent ...
by MathWizard
Wed Mar 11, 2015 3:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: When does market timing make sense?
Replies: 34
Views: 1429

Re: Do you really need 2.5 million to retire well?

From the article: Investors surveyed by the global investment management firm said they will require an average of $2.5 million in retirement to enjoy the quality of life they have today. ... the 458 investors surveyed ... Despite their above-average savings rate, these investors are worrywarts. On ...
by MathWizard
Wed Mar 11, 2015 3:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Do you really need 2.5 million to retire well?
Replies: 121
Views: 12696

Re: Are 10% of American Households Millionaires?

The 2011 census survey on distribution of household wealth From 2000 to 2011 has the median has the 85th prrcentile in In 2011 at 206k and 95th percentile at 630k It would have taken a 50% incease in wealth of the 95th percentile from 2011 to now to get to a million to get to even 5% of households I...
by MathWizard
Tue Mar 10, 2015 8:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Are 10% of American Households Millionaires?
Replies: 12
Views: 2421

Re: Time of Use Electrical Rates

Our electric company offered to pay us an $120 annual rebate to place a device on our central air conditioner that would throttle it during periods of large demand (ie. hot days). My wife asked, "why would we want the ac to not work at 100% when we need it the most?" :?: The offer was pro...
by MathWizard
Mon Mar 09, 2015 4:11 pm
 
Forum: Personal Consumer Issues
Topic: Time of Use Electrical Rates
Replies: 22
Views: 1444

Re: What is the smallest amount you would invest in taxable?

It usually has to be thousands for me to bother with an mutual fund transaction.
The small amount of earnings in $140 are not worth the time.

I'd just put the $140 in my first tier EF until I could dump it into a ROTH.
by MathWizard
Mon Mar 09, 2015 11:47 am
 
Forum: Investing - Theory, News & General
Topic: What is the smallest amount you would invest in taxable?
Replies: 13
Views: 1329

Re: Long Term Care and Taxes

This is not correct. If you itemize you can deduct medical expenses including nursing home. The threshold that must be exceeded is 10% of adjusted gross income. Over age 65 the threshold is 7.5% of AGI. So if AGI is $140,000 the threshold is 10,500. There may be decreased expenses that would allow ...
by MathWizard
Sun Mar 08, 2015 9:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long Term Care and Taxes
Replies: 8
Views: 1006

Long Term Care and Taxes

Hopefully this is just confirmation. LTC is one topic that shows up here occasionally. If one plans to pay for it out of pocket, what are the tax implications? If you are withdrawing $70K / year from a 401K to live on and now have to withdraw additional money to pay for $70K a year a spouse in LTC y...
by MathWizard
Sun Mar 08, 2015 12:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long Term Care and Taxes
Replies: 8
Views: 1006

Re: How Many Credit Cards Do You Actually Use?

3

I use them to keep them open.

One I've had for 25 yrs,

The other two are cashback cards

I've had one refused in the middle of a vacation
when fraud protection was erroneously triggered
so having a second cash back card was invaluable
by MathWizard
Sat Mar 07, 2015 10:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: How Many Credit Cards Do You Actually Use?
Replies: 67
Views: 4443

Re: How long did you stay in your starter home?

4 1/2 years. Our starter home was an approximately 540 sq. ft. mobile home with two bedrooms. When wife announced the second child was on the way we planned to move ourselves into the smaller bedroom and put the two children in the larger. My parents couldn't stand the thought of their grandchildre...
by MathWizard
Sat Mar 07, 2015 4:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: How long did you stay in your starter home?
Replies: 87
Views: 4594

Re: Parents:Have you had any luck teaching your kids about m

Yes, we have had a lot of luck teaching the kids about money. We did not come from money, and my kids got to see how we could afford better things as time went on. I was also not shy in talking about money when they wanted to. I also did not take the view that anyone who had lots of money was a croo...
by MathWizard
Fri Mar 06, 2015 2:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Parents:Have you had any luck teaching your kids about money
Replies: 40
Views: 2631

Re: What is your credit score?

The cutoff for the last loan I got was 760. I just asked the loan officer if I made it
and she said yes. (Too cheap to pay for the FICO score myself.)

I may never take out another loan for the rest of my life.
by MathWizard
Wed Mar 04, 2015 10:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: What is your credit score?
Replies: 63
Views: 4476

Re: Wife tired of saving...

I'm wondering how the heck did you get that kind of money south of 40, with kids. The reason why that is important is to consider how much of that $1.9MM came through one-time events like the lottery, inheritance, one-time stock vesting, plus the earnings on that amount. If it came through savings/i...
by MathWizard
Wed Mar 04, 2015 5:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wife tired of saving...
Replies: 203
Views: 19171

Re: "Americans Aren't Saving Enough for Retirement"

The Logan's Run version of America seemed to resolve the retirement issue. Of course, I am past the age of renewal, so I probably shouldn't have mentioned it. That being said, everyone that I talk to about retirement seems to either think of it as a mythical beast in some distant land because it is...
by MathWizard
Wed Mar 04, 2015 2:28 pm
 
Forum: Investing - Theory, News & General
Topic: "Americans Aren't Saving Enough for Retirement"
Replies: 41
Views: 4751

Re: Betting on your life expectancy with an SPIA

> I know the primary reason to have one is having marginal or underfunded retirement accounts Not sure I would agree with that. ONE important reason to get an SPIA with PART of your healthy retirement savings is to ensure that you cannot outlive a "floor" income. As far as the "betti...
by MathWizard
Wed Mar 04, 2015 1:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: Betting on your life expectancy with an SPIA
Replies: 18
Views: 1672

Re: What percentage of your total net worth is your home?

Hugely correlated with age. Also do you mean "equity in home, or value of your home." E.g. 100K in retirement funds, 100K mortgage, 200K house. Do you answer 50% or 100%? 15 years ago, I'd have had to say nearly either 50% or 100% depending on the answer above. Today I am at abut 15%. More...
by MathWizard
Wed Mar 04, 2015 1:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: What percentage of your total net worth is your home?
Replies: 62
Views: 4055

Re: Basic question on tax-differed growth and deductions

Simplified example: 25% tax bracket, save $10K in an index fund which earns exactly 10% real (inflation adjusted) annually, compounded annually. Assume you retire in 25% tax bracket. (The same principle applies to any other interest rate, 10% is just easier.) The initial investment for the tax defer...
by MathWizard
Tue Mar 03, 2015 2:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Basic question on tax-differed growth and deductions
Replies: 4
Views: 240

Re: Professional tax advice - when is it worth it?

Hello Boglers! I realize this question may be nearly impossible to answer, but I'm struggling with the decision to fork over a fair bit of cash for competent tax advice vs using my own research and TurboTax. My situation is slightly complicated. Owing to an ISO exercise, I owe federal and state AMT...
by MathWizard
Mon Mar 02, 2015 3:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Professional tax advice - when is it worth it?
Replies: 25
Views: 2055

Re: Help- I keep investing my emergency fund in the stock ma

Are some of your investments in ROTH IRAs?

RPTH contributions can be part of your EF. Just make sure that
your ROTH balance could drop in a recession and it would still be at least
as much as your contributions.
by MathWizard
Mon Mar 02, 2015 2:17 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help- I keep investing my emergency fund in the stock market
Replies: 18
Views: 2374

Re: Do you consider mortgage payments as savings?

I consider the mortgage payment as savings, and did the same for student loans. (Not consumer debt, and I had very little of that.) You dig a big hole increasing your potential income especially with professional degrees. Now you are increasing your net worth every month as you pay off the loans. Wh...
by MathWizard
Sat Feb 28, 2015 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 20073

Re: Convincing older relative to open online savings account

Let them keep the money locally. 1% is not that much of a difference for the peace of mind. I don't use an online bank either. (Of course I don't keep 1/3 of my portfolio in cash either.) If they want it in the local bank or Credit union rather than in bonds, I'd suggest at a CD ladder. I can get .7...
by MathWizard
Wed Feb 25, 2015 6:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Convincing older relative to open online savings account
Replies: 34
Views: 1536

Re: Is the first 100k really the hardest?

Let's assume you your salary went up at the rate of inflation, and that you get real return of 6% Then the doubling time for an investment is 12 years (rule of 72). Let's also assume you save 15% of your salary. The first 12 years (the doubling time) you contribute 1.8x salary and earn about .8x sal...
by MathWizard
Wed Feb 25, 2015 3:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is the first 100k really the hardest?
Replies: 58
Views: 9107

Re: Should I shut off water in a vacant home in winter?

You would have to drain the system if you shut the heat off, and you'd have to put antifreeze in all drain taps and toilets (an RV store would have the proper jugs of solution). I would leave the heat on. Without doors opening and closing the heat loss should not be so bad. You could always put plas...
by MathWizard
Wed Feb 25, 2015 2:37 pm
 
Forum: Personal Consumer Issues
Topic: Should I shut off water in a vacant home in winter?
Replies: 15
Views: 1408

Re: What age do you guys plan to retire?

Big difference for those who took lot of time/school/debt to increase income. You dig a deep hole, and start later, but then have a large income to make up for it. It takes a while to clear the debt, and this means starting to save for retirement much later. I expect to be FI (to our current lifesyt...
by MathWizard
Sun Feb 22, 2015 2:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: What age do you guys plan to retire?
Replies: 143
Views: 8795

Re: What % of your gross income do you spend on mortgage/ren

6.6% of household income on mortgage refinanced from 30 to 20 year payoff (5 yrs to go!!)

3% for prop tax/ins

Don't have a figure handy for utilities
by MathWizard
Sun Feb 22, 2015 1:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: What % of your gross income do you spend on mortgage/rent?
Replies: 155
Views: 8922

Re: What language do EU partners use to communicate?

I suspect English. That is as close to a universal international language that there is.

In the past, educated people would have spoken Latin.
by MathWizard
Fri Feb 20, 2015 4:42 pm
 
Forum: Personal Consumer Issues
Topic: What language do EU partners use to communicate?
Replies: 12
Views: 1066

Re: When would you retire money no object?

If money were no object, then I would do tings for the satisfaction of doing them. So if by retire, you mean stop working for someone else, and work for myself, then the answer would be as soon as possible. Is Buffet working or retired? I'd probably work with kids to show them how education could he...
by MathWizard
Tue Feb 17, 2015 1:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: When would you retire money no object?
Replies: 64
Views: 3418

Re: Traveling by car - estimating costs

I've figured about 40 to 50 cents per mile while the car is in good enough shape
that I would take it on 1000 mile trips.

That is with buying cheap cars and running them into the ground.
by MathWizard
Mon Feb 16, 2015 5:05 pm
 
Forum: Personal Consumer Issues
Topic: Traveling by car - estimating costs
Replies: 28
Views: 1617

Re: Savings Rate Methodology

Net worth includes stuff like principal residence equity, motor vehicles, and a gold class ring, none of which is of much utility in achieving Financial Independence. But do as you please... I should have been more clear. What I calculate is not really what accounted call net worth. Perhaps it woul...
by MathWizard
Mon Feb 16, 2015 11:26 am
 
Forum: Personal Finance (Not Investing)
Topic: Savings Rate Methodology
Replies: 22
Views: 1938

Re: Expecting a big inheritance - Should it change my life?

Barring problems down the line, it is highly likely that my kids will probably inherit in the neighborhood of 1/4 to 1/2 Million each in today's dollars. That is probably par for the course (or low) for members on this board. From my standpoint, I hope that it does NOT change my kid's lives other th...
by MathWizard
Sun Feb 15, 2015 4:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Expecting a big inheritance - Should it change my life?
Replies: 124
Views: 8212

Re: Savings Rate Methodology

I'm more interested in % change in net worth.

That can come from elimination of debt, contributions to investment accounts
and investment earnings. I also save for short term fluctuation in expenses, but that
is just smoothing out expenses throughout the year.
by MathWizard
Sun Feb 15, 2015 1:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Savings Rate Methodology
Replies: 22
Views: 1938

Re: Quick question on tax-advantaged space

You can pull Roth IRA contributions out tax and penalty free (earnings have to remain), but do so only in an emergency. This was always my line of thinking as well. In that case, you'd go with Plan A in my situation? Plan A. It is what I do. If you are going to pull 11K from the ROTH, that is not m...
by MathWizard
Thu Feb 12, 2015 3:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Quick question on tax-advantaged space
Replies: 26
Views: 1247

Re: College savings costs / number

mathwizard: Full ride is supposed to mean tuition, room and board. Not books though. Full tuition is just full tuition. Can be confusing nomenclature like nonstop versus direct flights. Full ride is definitely better than full tuition. I suspect neither are in my future... Sigh. He is getting the t...
by MathWizard
Thu Feb 12, 2015 2:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: College savings costs / number
Replies: 120
Views: 6718

Re: PETITION FOR Jack Bogle's Presidential Medal of Freedom

Go Jack!


edited: Originally commented that vote did not appear, but it did after several minutes.
Maybe there is a built in delay for some reason.
by MathWizard
Wed Feb 11, 2015 6:51 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: SIGN PETITION FOR Jack Bogle's Presidential Medal of Freedom
Replies: 182
Views: 11510

Re: A question about LTC insurance that no one asks

... A lot of this is a question of trust in a company which does not necessarily have its interests aligned with mine. Aside from wishing to remain in the highly-regulated and therefore reliably-profitable insurance business, when is an insurer's interest ever aligned with a claimant's? PJW I am in...
by MathWizard
Wed Feb 11, 2015 6:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question about LTC insurance that no one asks
Replies: 19
Views: 1705

Re: am I mess?

omg33yrs wrote:No, only debt we have is the car loan
Do not pay down subsidized loans as long as subsidy lasts (rate 0-3%)
scartching my head


I assume the subsidized loan refers to student loans, but you have not indicated that
you have any student loan debt.
by MathWizard
Wed Feb 11, 2015 4:37 pm
 
Forum: Personal Finance (Not Investing)
Topic: Am I a mess?
Replies: 31
Views: 3889

Re: A question about LTC insurance that no one asks

Like a lot of people, I'm on the fence about LTC insurance. ... It seems most of the people who are against purchasing LTC insurance give reasons such as: -- "no one in my family lives that long" -- "I'm adding more to my retirement savings so I can self-insure" -- "I don't...
by MathWizard
Wed Feb 11, 2015 4:33 pm
 
Forum: Personal Finance (Not Investing)
Topic: A question about LTC insurance that no one asks
Replies: 19
Views: 1705

Re: College savings costs / number

It is a choice to spend that much money. My son got accepted to a good out of state school he could go to for free, full ride, due to being a National merit finalist but there are few things I would rather spend my money on than a fantastic top level undergraduate experience for him. My son got a &...
by MathWizard
Wed Feb 11, 2015 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: College savings costs / number
Replies: 120
Views: 6718
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