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Re: 2 million dollar mistake meeting with MIL's financial gu

Great post, Rallycobra, thank you for sharing. What the heck do his initials stand for anyway? It would be very interesting if you schooled this guy with BH theory, pointing out the flaws in his calculations. Might make a good blog post or personal finance piece you can sell. For me, I love the In-L...
by SkierMom
Fri Apr 24, 2015 12:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2 million dollar mistake meeting with MIL's financial guy
Replies: 23
Views: 4976

Re: Moving Fiance's investments

Professor Emeritus wrote:You and her dad? This does not sound good for any marriage.


+1,000,000,000

Sounds creepy to me. Do not, under any circumstances discuss your finances with In-Laws.
by SkierMom
Wed Apr 08, 2015 5:19 pm
 
Forum: Investing - Help with Personal Investments
Topic: Moving Fiance's investments
Replies: 17
Views: 1383

Re: Earthquake coverage in CA

Look and see if you are in California Earthquake Zone 3 or 4 (maps on Internet USGS). 4 carries a higher risk of a damaging earthquake in your vicinity, whereas 3 not so much. Are you single-story or two-story? Two story houses transfer heavier loads to the foundation. What type of construction is y...
by SkierMom
Fri Apr 03, 2015 11:02 am
 
Forum: Personal Finance (Not Investing)
Topic: Earthquake coverage in CA
Replies: 20
Views: 1100

Re: Help w/ adult child hard-wired for poor financial decisi

IlliniDave: What you describe in your daughter sounds like classic ADD the way it manifests in girls/women. Specifically, the lack of planning and foresight, motivation, Real-World and future-think is replaced by what feels good in the moment (impulsive and spontaneous). I suspect she has likely str...
by SkierMom
Tue Mar 24, 2015 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help w/ adult child hard-wired for poor financial decisions?
Replies: 45
Views: 4807

Re: Does your CPA/Tax Person help with reducing your taxes?

Most CPAs don't specialize in the tax code. We've been using an EA (IRS Enrolled Agent) the last three years who specifically advises us about taxes, tax efficiencies, knows the tax sensitivities and thresholds and is pro-active looking for deductions for us. My experience with CPAs is that all of ...
by SkierMom
Fri Mar 20, 2015 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Does your CPA/Tax Person help with reducing your taxes?
Replies: 66
Views: 5802

Re: Large Loan Debt, Need some advice

avenger wrote:That being said, I personally (barring any major capital gains) would use my taxable account to pay off some off some of the debt and make an effort to get that debt gone.


No way should the OP be doing this before getting married.
by SkierMom
Wed Mar 18, 2015 4:10 pm
 
Forum: Personal Finance (Not Investing)
Topic: Large Loan Debt, Need some advice
Replies: 24
Views: 1846

Re: Steering family away from costly Financial Adviser or MY

This describes not only your situation but also those of so many others who have doubts about their advisers yet remain with them mainly because it seems easier. I think your issue(s) describe many family situations. It is a difficult thing to keep your mouth shut, and I surmise it will become even...
by SkierMom
Mon Mar 16, 2015 11:09 am
 
Forum: Investing - Help with Personal Investments
Topic: Steering family away from costly Financial Adviser or MYOB?
Replies: 28
Views: 2350

Re: American Funds beats the market 97% of the time?

Sorry that you were entrapped by Ed Jones & the 5.75% commissions.
by SkierMom
Fri Mar 13, 2015 1:57 pm
 
Forum: Investing - Theory, News & General
Topic: American Funds beats the market 97% of the time?
Replies: 50
Views: 5374

Re: How much house can we afford by Boglehead standards?

Hi Johnny: I concur with HaveHad, and run the numbers on living expenses with a few mortgage scenarios on one salary. Once you start having kids, one parent at home becomes a very desirable condition, albeit just temporary, for a few years while you have babies. My God, I remember the mayhem, the me...
by SkierMom
Thu Mar 12, 2015 11:05 am
 
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford by Boglehead standards?
Replies: 31
Views: 4757

Re: Which 529 plan are you using?

archbish99 wrote:
We went Nevada; fees nearly as low, can manage through my Vanguard login, and works smoothly with UPromise.


+1
BUT, at the time (twelve years ago) California's plan was awful.
by SkierMom
Wed Mar 11, 2015 6:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: Which 529 plan are you using?
Replies: 49
Views: 3122

Re: Help with 457 Options

I too am in government with an expected pension to replace about 70-80% of my final salary. Because I have a pension, I feel that I can be more aggressive in my 457 account. The way I look at it (correct or not) my pension is like a large Bond fund holding, so my AA in my 457 is almost 100% equities...
by SkierMom
Thu Mar 05, 2015 6:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with 457 Options
Replies: 4
Views: 352

Re: 529 plans

Are you also a resident of TN? First thing to do is find out what, if any State of Tennessee incentives are for in-state residents contributing to the state 529 plan, which I believe offers Vanguard funds.

Some states have a match and some offer tax-credits or tax benefits.
by SkierMom
Tue Mar 03, 2015 2:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 plans
Replies: 9
Views: 936

Re: What should I look for in an accountant?

For taxes, I would recommend an EA-Enrolled Agent licensed & certified by the IRS. EA's are more tax savvy, since that's all they do: Taxes. CPA's can be used for taxes as well, of course. But a CPA can know a whole lot about accounting and a very minimal amount about taxes. Look for a CPA that ...
by SkierMom
Tue Feb 24, 2015 1:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: What should I look for in an accountant?
Replies: 5
Views: 589

Re: Milestone >$100k in my retirement investment portfolio

Thank you for sharing - AWESOME JOB! Way-to-go! Yay for you.

....and thanks for being a gal in Physics! 8-)
by SkierMom
Thu Feb 05, 2015 1:55 pm
 
Forum: Investing - Theory, News & General
Topic: Milestone >$100k in my retirement investment portfolio
Replies: 30
Views: 3252

Re: Workplace net worth conversations you'd like to avoid?

AZAttorney11 wrote:
I really can't envision a scenario where discussing your net worth and specific investment beliefs with a co-worker is beneficial.


I'm going to amend this to add, "....co-worker or in-laws..."
by SkierMom
Wed Jan 28, 2015 4:40 pm
 
Forum: Personal Consumer Issues
Topic: Workplace net worth conversations you'd like to avoid?
Replies: 87
Views: 9561

Re: Engineered wood floors?

Anyone with experience re-staining hardwood floors? I'm looking to strip the light stain off my birch flooring to a dark coffee stain. I think the contrast with white trim and white kitchens is sharp. I love the dark stain, and this trend has been popular for the last 10 years or so. I would say cur...
by SkierMom
Tue Jan 27, 2015 1:26 pm
 
Forum: Personal Consumer Issues
Topic: Engineered wood floors?
Replies: 20
Views: 2382

Re: Women's Face Moisturizer/Lotion

Personally, I think it would be a great gift. Would suggest you visit Macy's and get some suggestions/ideas at their fab department with sales women that will fall over each other to help a man. They have packaged items in gift sets. I'm mid-40's and my favorites are from Bobbi Brown, Origins and Cl...
by SkierMom
Fri Jan 23, 2015 2:07 pm
 
Forum: Personal Consumer Issues
Topic: Women's Face Moisturizer/Lotion
Replies: 51
Views: 3785

Re: Help setting up college savings account

Hi Josh! Congrats to you and your (sleep-deprived) wife! I'm sure 529CollegeGuy will find your question in a few moments to weigh-in with a great suggestion. My DH and I opened a Coverdell initially with Vanguard for less than $1,000 and then converted it to a 529 account after we had a few thousand...
by SkierMom
Tue Jan 13, 2015 7:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help setting up college savings account
Replies: 37
Views: 2670

Re: Instruments and kids

My two daughters are pretty social. We started both on piano at ages 7 and 5. It lasted one year. The issue is that to play an instrument, you must practice. For the piano, that meant sitting down by themselves in the den, alone. That wasn't going to happen without a whole lot of nagging. I figure I...
by SkierMom
Wed Dec 10, 2014 2:44 pm
 
Forum: Personal Consumer Issues
Topic: Instruments and kids
Replies: 31
Views: 1997

Re: Youngster talented in science and math

I have always been the grateful recipient of a National Geographic subscription (Thanks, Dad!).

A little bit of science, engaged writing, adventure and great photography.
by SkierMom
Mon Dec 08, 2014 1:15 pm
 
Forum: Personal Consumer Issues
Topic: Youngster talented in science and math
Replies: 47
Views: 3570

Re: 529 asset allocation for small windfall

How old are your children? Whoops - I see now they are 5. Their ages will influence the asset allocation that you chose for their college savings. You are correct to keep college savings asset allocation distinct from your own retirement asset allocation, as the time frames are different. The 529 pl...
by SkierMom
Tue Dec 02, 2014 8:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: 529 asset allocation for small windfall
Replies: 17
Views: 1808

Re: Daycare payments - a way to get further discount?

1.) Research other Daycare centers in your area to find one with lower rates and/or offers a sibling discount. 2.) Volunteer for the center for a negotiated discount (can you do bookkeeping, carpentry). 3.) Propose flexible schedules to both your employers, say 9/80 or 10-hour work days where you al...
by SkierMom
Fri Nov 21, 2014 5:47 pm
 
Forum: Personal Consumer Issues
Topic: Daycare payments - a way to get further discount?
Replies: 11
Views: 1642

Re: Paid off our Mortgage this evening!

.....and the value of homes can also decrease (See 2008). Yep, Dave Ramsey is the current AM radio syndicate propagating the "Paid off home mortgage is the new status symbol replacing the BMW in the driveway" for....whatever reasons. Over-simplified investing advice based solely on the fac...
by SkierMom
Fri Nov 21, 2014 5:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off our Mortgage this evening!
Replies: 75
Views: 10738

Re: Paid off our Mortgage this evening!

I congratulate the financial goal achieved. That is the main point to be celebrated.

I don't believe in the paid-off mortgage as the new status symbol of choice, but I do believe in making financial goals happen.
by SkierMom
Fri Nov 21, 2014 2:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paid off our Mortgage this evening!
Replies: 75
Views: 10738

Re: Mail order gift basket

Costco has great inexpensive gift baskets. You can purchase online . If purchasing in the store to see them in-person, a UPS store or Mailing center in a local mall can package and send for a nominal fee, even including a card or correspondence. This time of the year there are usually creative entre...
by SkierMom
Fri Nov 21, 2014 1:24 pm
 
Forum: Personal Consumer Issues
Topic: Mail order gift basket
Replies: 5
Views: 596

Re: Child's Education Savings (529) and life insurance plan

Only earnings in a 529 account are subject to a withdrawal penalty. Federal law imposes a 10% penalty on earnings for non-qualified distributions. The penalty is not assessed on principal. An exception to the penalty can be claimed if you terminate the account because the beneficiary has died or has...
by SkierMom
Wed Nov 19, 2014 2:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Child's Education Savings (529) and life insurance plan
Replies: 18
Views: 2063

Re: Private Placement Life Insurance

So....Mr. Donnelly, how did you become the publicist for Mr. Robbins?
by SkierMom
Tue Nov 18, 2014 7:55 pm
 
Forum: Investing - Theory, News & General
Topic: New Tony Robbins Book on Financial Freedom
Replies: 90
Views: 23387

Re: Private Placement Life Insurance

Who is Tony Robbins?
by SkierMom
Tue Nov 18, 2014 7:17 pm
 
Forum: Investing - Theory, News & General
Topic: New Tony Robbins Book on Financial Freedom
Replies: 90
Views: 23387

Re: Vacation in France

Go. How often do you celebrate a birthday ending in -0? I would rather spend my money accumulating experiences over accumulating things. You will be there just before the Tour....Think about traveling the countryside by bike - you keep your expenses down and there is no metal or glass between you an...
by SkierMom
Tue Nov 18, 2014 7:06 pm
 
Forum: Personal Consumer Issues
Topic: Vacation in France
Replies: 96
Views: 12143

Re: Child's Education Savings (529) and life insurance plan

OP, I woke up this morning remembering your post and realized that I forgot to mention to you to look at your own 529 state plan first for any potential state tax savings, which are available in about 2/3 of the state plans. If your home state does not offer the tax incentive, NY, Utah or Nevada all...
by SkierMom
Tue Nov 18, 2014 6:48 pm
 
Forum: Investing - Help with Personal Investments
Topic: Child's Education Savings (529) and life insurance plan
Replies: 18
Views: 2063

Re: Child's Education Savings (529) and life insurance plan

One last thing.

Kick your NWM salesman-guy (or girl) to the curb.
by SkierMom
Mon Nov 17, 2014 6:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: Child's Education Savings (529) and life insurance plan
Replies: 18
Views: 2063

Re: Child's Education Savings (529) and life insurance plan

Put the $200/month into the NY direct-sold (Vanguard) 529 account. Since you have 15 years to invest, you can be aggressive in your asset allocation and favor stock funds. Signup for the Upromise college savings rebate program (if you are an Internet shopper) and link your Upromise account to the NY...
by SkierMom
Mon Nov 17, 2014 6:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Child's Education Savings (529) and life insurance plan
Replies: 18
Views: 2063

Re: American Funds Roth IRA - Should I Make the Move??

abyan wrote:5% per transaction is criminal.


I believe the commission cost to purchase American Funds is 5.75%.

For every $100 your wife put into the 529 account, only $94.25 was actually invested.
by SkierMom
Thu Nov 13, 2014 5:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: American Funds Roth IRA - Should I Make the Move??
Replies: 30
Views: 3328

Re: Tracking investments

I love Quicken for tracking personal expenses and budgeting, but it too is horrible for tracking investments. You need to enter share #'s and prices instead of working in dollar amounts, same problem that the OP is having above. Question: What parameters are you trying to track? The Vanguard site wi...
by SkierMom
Thu Nov 13, 2014 5:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Tracking investments
Replies: 7
Views: 856

Re: Boglehead family vacations

LeeMKE

I checked out the dog sledding site you recommended. Outstanding. My daughters have a fascination for wolves, and this is close to the International Wolf Center in Ely, MN.
by SkierMom
Wed Nov 12, 2014 7:45 pm
 
Forum: Personal Consumer Issues
Topic: Boglehead family vacations
Replies: 44
Views: 4434

Re: Best Online Brokerage - TD Ameritrade vs. Schwab

Kraven (OP) If you have a hard copy of the actual Kiplinger's magazine (December 2014) where this fine example of journalism was published, read the opening remarks from the editor. I was very pleased when I read that Vanguard politely declined from even submitting/returning the survey that was sent...
by SkierMom
Thu Nov 06, 2014 4:40 pm
 
Forum: Investing - Theory, News & General
Topic: Best Online Brokerage - TD Ameritrade vs. Schwab
Replies: 24
Views: 3413

Re: Selected photos of recent bicycle ride across New York

Thanks for posting & sharing, Raybo!

I see the occasional posts by BH's to splurge on vacation trips/cruises. For me, the only way to see a country (or state) is by bike.

Cheap too! Why haven't more BH's discovered this?........
by SkierMom
Tue Nov 04, 2014 4:24 pm
 
Forum: Personal Consumer Issues
Topic: Selected photos of recent bicycle ride across New York
Replies: 13
Views: 1339

Re: $116k Med School Debt - Pay Off or PSLF?

EmergDOC - I agree with your statement about not paying more in taxes than what the law deems, and I respect your well-written opinions on this board. However, aren't we talking about a percentage of Principal Loan Forgiveness here in the OP scenario extended to ten years? Do you think what is missi...
by SkierMom
Fri Oct 31, 2014 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: $116k Med School Debt - Pay Off or PSLF?
Replies: 44
Views: 2916

Re: Life insurance outside work?

Claudia- Look into Term Life policies only. Check out Amica.

Term policies are inexpensive, and at your age(s) you can get 20-yr policies to cover your 3-year old through college.
by SkierMom
Fri Oct 31, 2014 11:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Life insurance outside work?
Replies: 15
Views: 1369

Re: $116k Med School Debt - Pay Off or PSLF?

Forbearance of medical school debt on the backs of the tax payers isn't an honorable thing to do, even if it is a legitimate option given by the government.

I understand your wife has taken a low-paying public service job, but your annual combined income is more than twice the debt.

Pay it off.
by SkierMom
Thu Oct 30, 2014 5:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: $116k Med School Debt - Pay Off or PSLF?
Replies: 44
Views: 2916

Re: Anybody ever reduce term coverage amount?

We have one child who is two months old and then would like to have at least one more, but maybe three. This is what throws me off. If it is just two kids, 20 for a big number seems fine since the children will be 20 and ~17-18. What worries me more is potentially having a 14-16 year old and not hav...
by SkierMom
Fri Oct 17, 2014 12:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anybody ever reduce term coverage amount?
Replies: 16
Views: 1073

Re: Anybody ever reduce term coverage amount?

Take into consideration how old your kids are right now, and how much your are saving into their 529 plans, etc.

Additional insurance after the 20 year mark is probably not necessary.

I like your approach and strategy, makes sense to me.
by SkierMom
Fri Oct 17, 2014 12:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anybody ever reduce term coverage amount?
Replies: 16
Views: 1073

Re: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rat

[quote="newbogleb" So to save [$0.00 to $0.396]* on my taxes I should spend $1 in interest? But seriously, please enlighten me. [/i][/quote] Because it's cheap money, that's why. A 3.5% mortgage equates to about 2.8% in the 25% tax bracket. In the long term of 30 years you will likely do m...
by SkierMom
Fri Oct 10, 2014 1:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buffett Says ‘No-Brainer’ to Get a Mortgage to Short Rates
Replies: 77
Views: 10186

Re: Seeking Investment/Financial Advice for Married Couple

Wanted to add that just because Federal student loans are dischargeable after 25 years, is that an honorable thing? Our character is defined by what we do in life.

Food for thought. Good luck. Not trying to be Debbie Downer (she's on the Ed Jones investing board).
by SkierMom
Tue Oct 07, 2014 7:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Investment/Financial Advice for Married Couple
Replies: 9
Views: 719

Re: Seeking Investment/Financial Advice for Married Couple

Holy Student Loan, Batman. $550,000 is that a typo? I'm hoping that is medical school or a graduate degree in computer engineering, meaning her income will likely triple in the near future. Throwing about $4,500/month at it to clean up the mess, you would be done in about 10 years or so. Much better...
by SkierMom
Tue Oct 07, 2014 7:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Investment/Financial Advice for Married Couple
Replies: 9
Views: 719

Re: Seeking Investment/Financial Advice for Married Couple

Get out of the student loan AGI-based repayment program, it is doing nothing but adding psychological weight onto a marriage by prolonging the agony of repayment, hampering your financial freedom and choices. The AGI-based program allows you a lower monthly bill - at the expense of minimalized princ...
by SkierMom
Tue Oct 07, 2014 6:49 pm
 
Forum: Investing - Help with Personal Investments
Topic: Seeking Investment/Financial Advice for Married Couple
Replies: 9
Views: 719

Re: What bumps were along your road?

My Bump was basically, three years of my life: Laid off from my professional engineering position in 1998 with a very generous severance package (including an additional one month salary if I chose NOT to use their employment "placement" service. I didn't.) Decided to use savings to travel...
by SkierMom
Thu Oct 02, 2014 1:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: What bumps were along your road?
Replies: 44
Views: 3542

Re: Time to go back to cash and ditch the Credit Card?

I don't have any problems with these breaches because we use a regular credit card with $0 fraud liability and not a "fake" credit (debit card with VISA or MC logo) card to make purchases. It's the credit card companies that will drive the security improvements. As far as changing all my p...
by SkierMom
Thu Sep 25, 2014 1:51 pm
 
Forum: Personal Consumer Issues
Topic: Time to go back to cash and ditch the Credit Card?
Replies: 39
Views: 3479

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

anonforthis, Can I hire you to come in my house and do this for my family?
by SkierMom
Mon Sep 22, 2014 1:33 pm
 
Forum: Personal Consumer Issues
Topic: We have a grocery problem... [Household budget]
Replies: 158
Views: 11935

Re: Rainy day fund

OP: I've found a lot of variance on this topic depending on individual circumstances and investing risk tolerance. Accounting for a percentage that should be an "emergency" fund, we have ours in Vanguard Wellington. Both husband and I have secure government jobs, that given the odds, both ...
by SkierMom
Mon Sep 22, 2014 1:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Rainy day fund
Replies: 6
Views: 701
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