Search found 215 matches

by TravelforFun
Thu Jul 23, 2015 2:38 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA for children?
Replies: 23
Views: 1888

Re: Roth IRA for children?

It's also not clear whether or not paying family members for household chores counts as earned income: http://fairmark.com/retirement/roth-accounts/contributions-to-roth-accounts/roth-iras-for-minors/ I've read that article many times over the last several months. My grandson doesn't live with me. ...
by TravelforFun
Thu Jul 23, 2015 1:35 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA for children?
Replies: 23
Views: 1888

Re: Roth IRA for children?

I pay my teenage grandson about $50 a week to mow my yard and work around the house. I also deposit into his Roth IRA account an amount that matches his earning (about $2K a year). He would receive a Form 1099-Misc from me every year and he has to pay taxes on his earning. Pretty simple process. Yo...
by TravelforFun
Thu Jul 23, 2015 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Roth IRA for children?
Replies: 23
Views: 1888

Re: Roth IRA for children?

I pay my teenage grandson about $50 a week to mow my yard and work around the house. I also deposit into his Roth IRA account an amount that matches his earning (about $2K a year). He would receive a Form 1099-Misc from me every year and he has to pay taxes on his earning. Pretty simple process. You...
by TravelforFun
Mon Jul 20, 2015 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: Should I invest my HSA?
Replies: 13
Views: 1588

Re: Should I invest my HSA?

I view HSA as an IRA on steriods... - Income and FICA tax free on the way in This may not be true. The below comes from another thread: 'If you contribute to your HSA through a payroll deduction, the money is excluded from both income taxes and FICA taxes. For example, if you contribute $1,000 thro...
by TravelforFun
Mon Jul 20, 2015 1:23 pm
Forum: Investing - Help with Personal Investments
Topic: Should I invest my HSA?
Replies: 13
Views: 1588

Re: Should I invest my HSA?

[quote="packet I view HSA as an IRA on steriods... - Income and FICA tax free on the way in[/url][/quote] This may not be true. The below comes from another thread: 'If you contribute to your HSA through a payroll deduction, the money is excluded from both income taxes and FICA taxes. For examp...
by TravelforFun
Sun Jul 19, 2015 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: A retiree's personal experience...
Replies: 37
Views: 6544

Re: A retiree's personal experience...

Peter Foley wrote:We live modestly, a habit that is hard to break. Maybe we will start flying first class . . .

Start flying first class or your heirs will. :happy
by TravelforFun
Sun Jul 19, 2015 3:10 pm
Forum: Investing - Help with Personal Investments
Topic: How do you allocate assets in an HSA (if you don't know when you'll need the money)
Replies: 20
Views: 973

Re: How do you allocate assets in an HSA (if you don't know when you'll need the money)

If I didn't have a HSA, then I would just withdraw from my retirement portfolio to pay medical expenses not paid by insurance. Therefore, I just include the HSA in my overall portfolio asset allocation. Since my overall portfolio allocation calls for a little bit of short-term corporate bond index ...
by TravelforFun
Sun Jul 19, 2015 8:16 am
Forum: Personal Finance (Not Investing)
Topic: A retiree's personal experience...
Replies: 37
Views: 6544

Re: A retiree's personal experience...

Retired at 64 in early 2012. SS at 65. Wife retired in 2011 at 49. The bull has been extremely kind and our $ withdrawn has steadily increased to the current 3.2%. I'm writing this AM from the Amsterdam Hilton. Germany, Austria, Slovakia, Hungary and the Czech Republic to follow. When we get back I...
by TravelforFun
Fri Jul 17, 2015 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Convert IRA to Roth While Working to Save on Taxes
Replies: 15
Views: 1125

Re: Convert IRA to Roth While Working to Save on Taxes

I don't know whether to say congratulations for having a job you love enough to work till 70 or condolences you don't have enough money to retire. I accept your congratulations. I love what I do. By 40% bracket, do you mean 39.6% federal? Or 40% due to increased SS taxation? Or some other phaseout?...
by TravelforFun
Thu Jul 16, 2015 10:57 pm
Forum: Investing - Help with Personal Investments
Topic: Pulling equity out of home to invest?
Replies: 71
Views: 4923

Re: Pulling equity out of home to invest?

What do the experts have to say about the idea of pulling equity out of your home to invest (in perhaps stocks / bonds, real estates)? Yeah it carries risk, but good or bad idea? I don't have a problem with that as long as you maintain your asset allocation (AA) goal. I paid off my home a few years...
by TravelforFun
Thu Jul 16, 2015 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Convert IRA to Roth While Working to Save on Taxes
Replies: 15
Views: 1125

Re: Convert IRA to Roth While Working to Save on Taxes

Your strategy is sound. I don't know if anybody is in the exact same situation, but many of us are in similar situations, converting to Roths early to avoid RMDs bumping us out of the 15% bracket. I'm in the RMD stage of my life now, and because I did conversions over many years I've moved enough o...
by TravelforFun
Thu Jul 16, 2015 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: Convert IRA to Roth While Working to Save on Taxes
Replies: 15
Views: 1125

Convert IRA to Roth While Working to Save on Taxes

We're married-joint-filers, my wife is retired but I'm still working, and my lone salary puts us in the 28% tax bracket. The conventional thinking is that one should wait until after retirement to withdraw from IRA because by then one should be in a lower tax bracket. Not true for everyone! I plan t...
by TravelforFun
Sat Jul 11, 2015 11:36 am
Forum: Personal Consumer Issues
Topic: Facebook's malware scan- legitimate or malware? Invasive?
Replies: 42
Views: 2696

Re: Facebook's malware scan- legitimate or malware? Invasive?

Nope. I use FB everyday and haven't run into this.
by TravelforFun
Thu Jul 09, 2015 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: San Francisco Bound - Need Salary Advice
Replies: 55
Views: 5338

Re: San Francisco Bound - Need Salary Advice

SDBoggled wrote:* Beware of partner you might attract with showy, outward high $$$ expenditure. Early retirement folk wisdom is that a Live Below Your Means Partner is one of the keys to their "success" :-)

The biggest key to your financial success IMO.
by TravelforFun
Sun Jul 05, 2015 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Borrowing money from my 401k
Replies: 26
Views: 2012

Re: Borrowing money from my 401k

OP, spell check your posts on here, your emails and correspondence at work. It may help raising your income and and hence, reducing your debts.
by TravelforFun
Mon Jun 29, 2015 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Rules of Social Security
Replies: 13
Views: 1610

Rules of Social Security

I was reading an article on the rules of Social Security and it said one of the rules was: "29. If you choose to file and suspend in order to enable your spouse to collect a spousal benefit on your earnings record while you delay taking your benefit in order to collect a higher one later, make ...
by TravelforFun
Thu Jun 25, 2015 11:32 pm
Forum: Personal Consumer Issues
Topic: 2014 Lexus ES350
Replies: 37
Views: 3923

Re: 2014 Lexus ES350

I have a 2015 Lexus ES350 and absolutely love it! My other car is a 2010 Lexus RX350.
by TravelforFun
Sun Jun 14, 2015 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Chase bonus. Why?
Replies: 21
Views: 3293

Re: Chase bonus. Why?

You could get up to $2,500 from Fidelity if you opened an account with them right now. I frequently rotate money from place to place to get the bonus.
by TravelforFun
Wed Jun 10, 2015 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance and Economic Outpatient Care for a Boglehead
Replies: 70
Views: 5103

Re: Inheritance and Economic Outpatient Care for a Boglehead

Minus 10%. Received no help but I'm now helping parents, kids, and grandkids.
by TravelforFun
Sat May 30, 2015 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Housing Market in SoCal
Replies: 55
Views: 5901

Re: Housing Market in SoCal

I would rather live in a shack in SD than a mcmansion in DFW OP - same, if not worse situation up here. We rent cheaply, enjoy our long weekends away from home and try to max our savings. When retirement comes we hope to rent for months throughout the world and find a cheap home base somewhere, but...
by TravelforFun
Mon May 11, 2015 1:41 pm
Forum: Personal Consumer Issues
Topic: New wall mount--Upgrade to new, lighter model TV?
Replies: 5
Views: 490

Re: New wall mount--Upgrade to new, lighter model TV?

They make supports that can suspend TVs from ceiling.
by TravelforFun
Sun May 03, 2015 1:23 pm
Forum: Investing - Help with Personal Investments
Topic: Help with Retirement Options......
Replies: 15
Views: 1661

Re: Help with Retirement Options......

I would take Option 2 (lump sum) because: 1) Bird in the hand. Capture it now, 2) Your money would continue to grow since you only need to withdraw 2.5 % a year, 3) if you died early, your heirs would get to keep the lump summoney, 3) if you lived a long time, more time for your money to grow.
by TravelforFun
Thu Apr 30, 2015 10:46 am
Forum: Investing - Theory, News & General
Topic: Retirees - What would you have done differently?
Replies: 48
Views: 6965

Re: Retirees - What would you have done differently?

Borrow more money when there is/was an interest rate inversion. This is a highly speculative move but hugely rewarding if done with knowledge. :annoyed Agree! 25 years ago credit card companies were offering 12-18 month 0% interest cash advances left and right and I took advantage of several of tho...
by TravelforFun
Mon Apr 27, 2015 6:58 pm
Forum: Personal Consumer Issues
Topic: “Entry level” luxury cars under 40k
Replies: 99
Views: 10894

Re: “Entry level” luxury cars under 40k

Has anyone mentioned Lexus? We bought a brand new ES350 a couple of weeks ago and absolutely love it.
by TravelforFun
Wed Apr 01, 2015 11:39 am
Forum: Investing - Help with Personal Investments
Topic: Financecruiser intro
Replies: 4
Views: 690

Re: Financecruiser intro

Financecruiser wrote: I managed to hit $100k net worth the month of my 27th bday last year. Awesome feeling, so I set huge target of $1M by 37. g

Increasing your net worth ten times within a span of 10 years is going to be a huge goal. Some of us are lucky to be able to double our net worth in 7 or 8 years.
by TravelforFun
Sat Mar 28, 2015 11:07 am
Forum: Personal Consumer Issues
Topic: Will you buy an Apple Watch?
Replies: 398
Views: 32686

Re: Will you buy an Apple Watch?

reneeh63 wrote:
...truth is that there have been numerous attempts to market and sell "smart watches" and they have not succeeded.

They will not succeed until the porn industry figures out how to use them. :idea:
by TravelforFun
Thu Mar 19, 2015 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance Premium Increase
Replies: 20
Views: 1611

Re: Long Term Care Insurance Premium Increase

Mitchell777 wrote:Does inflation adjusted mean the policy is $7K per month at purchase and the $7K is adjusted for inflation each year even though you are not yet using it? Thanks

My monthly benefit would be adjusted for inflation each year whether or not I am receiving the benefit payments.
by TravelforFun
Thu Mar 19, 2015 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance Premium Increase
Replies: 20
Views: 1611

Re: Long Term Care Insurance Premium Increase

island wrote:Who do you all purchase your insurance from, what's the company?

Unum through my previous employer.
by TravelforFun
Wed Mar 18, 2015 11:17 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance Premium Increase
Replies: 20
Views: 1611

Long Term Care Insurance Premium Increase

My LTC Insurance Company notified me today that they will increase my premium by 25% in May, 25% next May, and 20% in May 2017. Has anyone on this forum experienced such a sharp premium increase? We've been paying $250 a month for our policy which would cover LTC for both of us for 3 years at $7,000...
by TravelforFun
Mon Mar 16, 2015 11:21 pm
Forum: Personal Consumer Issues
Topic: One Level or Two Level House
Replies: 68
Views: 6602

Re: One Level or Two Level House

I have a two-story home and all the bedrooms are upstairs. Kitchen is downstairs but bedrooms and library are upstairs and that gives me a great way to exercise. I go up and down that stairs at least 30 times a day when I'm not at work. I may have a different opinion 20 years from now but for now, I...
by TravelforFun
Mon Mar 16, 2015 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Euro for Vacations?
Replies: 33
Views: 2961

Re: Buying Euro for Vacations?

jose wrote:
Pick a good debit card that charges no ATM or FX fees, and just go to the ATM. You can get about 600 eur per day, at interbank rate, no fees.

Which debit cards that charge no ATM nor transaction fees overseas?
by TravelforFun
Sun Mar 15, 2015 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: If I Knew Then What I Know Now
Replies: 61
Views: 13178

Re: If I Knew Then What I Know Now

Mlelbuf, I posted your speech verbatim on my Facebook page and it has been shared or reposted several times. Great job!
by TravelforFun
Sun Mar 15, 2015 3:01 pm
Forum: Personal Consumer Issues
Topic: Cruise.Com Bait and Switch Tactics
Replies: 28
Views: 3259

Re: Cruise.Com Bait and Switch Tactics

I use Costco when I book cruises. Fair prices and GREAT customer service.
by TravelforFun
Fri Mar 13, 2015 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Euro for Vacations?
Replies: 33
Views: 2961

Re: Buying Euro for Vacations?

I just bought enough Euros for our next two trips. From where? Unless you're already in Europe and can simply withdraw excess cash from an ATM over several days prior to leaving, you're likely looking at forex fees that could wipe out the "discount". Yes, please tell me where. From my ban...
by TravelforFun
Fri Mar 13, 2015 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Euro for Vacations?
Replies: 33
Views: 2961

Re: Buying Euro for Vacations?

We go to Europe every couple of years. Last year we paid $1.25 for each Euro and now it's about $1.08. I just bought enough Euros for our next two trips.
by TravelforFun
Thu Mar 12, 2015 11:07 pm
Forum: Personal Consumer Issues
Topic: What won't you pay with Credit Card?
Replies: 77
Views: 10103

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

I pay for everything with one of my two credit cards unless they charge a fee for using them. Amex for Costco stuff and Barclay Arrival for everything else. Love the Barclay one.
by TravelforFun
Sun Mar 08, 2015 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Loaning money to an only child
Replies: 17
Views: 1618

Re: Loaning money to an only child

We don't lend money to our kids. We would give them what we could but no loans and no cosignings. It all boils down to whether they are responsible with money or not. If they are responsible, they will get out of debt without anyone's help. If they're not, credit card balance will re-appear and they...
by TravelforFun
Sun Mar 08, 2015 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: WSJ article about boosting retirement income by approx. 30%
Replies: 8
Views: 1913

Re: WSJ article about boosting retirement income by approx.

So whenever we do sell, the profits (hopefully the $500k tax-free situation will still hold) will just go into the pot, for investment, a few laddered SPIA's and modest deferred annuities, and "income for living each year", in addition to SS (and part time consulting while interest and ab...
by TravelforFun
Sat Mar 07, 2015 12:30 am
Forum: Personal Finance (Not Investing)
Topic: When will / did you claim Social Security benefits?
Replies: 152
Views: 14109

Re: When will / did you claim Social Security benefits?

Nothing that can't be solved by a spreadsheet. Wife is 4 years younger than me, her SS benefit is less than 1/2 of mine, her family longevity is longer than mine, and we have sufficient investment to live on without relying on SS. Put all those factors into the spreadsheet and it spits out this stra...
by TravelforFun
Sat Mar 07, 2015 12:00 am
Forum: Investing - Help with Personal Investments
Topic: What is your credit score?
Replies: 63
Views: 8121

Re: What is your credit score?

dccboone wrote:A credit score is not a sign of wealth.

True but one's credit score can tell a lot about how financially responsible one is.
by TravelforFun
Fri Mar 06, 2015 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: 2 comma club (my way)!!
Replies: 49
Views: 8721

Re: 2 comma club (my way)!!

Congratulations to the OP and spouse! Took us 30 years to make the club on one income starting with nothing. No lottery winning nor inheritance along the way.
by TravelforFun
Wed Mar 04, 2015 11:42 pm
Forum: Investing - Help with Personal Investments
Topic: What is your credit score?
Replies: 63
Views: 8121

Re: What is your credit score?

Barclay Arrival Card gives you free FICO scores. Mine is 844 but it doesn't do me any good because I neither need nor want to borrow money.
by TravelforFun
Mon Mar 02, 2015 7:37 pm
Forum: Personal Consumer Issues
Topic: Can I afford it?
Replies: 59
Views: 6372

Re: Can I afford it?

No, you cannot afford it. Get your assets up above $2MM, then look again. In the meantime, it is a used Camry or Accord for you. When your portfolio gains $41,000 in one single day is the day that you can afford a $41,000 car. This must be a joke. You would have to have $125 million in investment i...
by TravelforFun
Mon Feb 16, 2015 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: vanguard confiscated all my dividends and capital gains
Replies: 17
Views: 4255

Re: vanguard forfeited all my dividends and capital gains

So Vanguard closed the account because the OP is a non-resident alien. I wonder had the OP lost money, would Vanguard have returned the original amount to the OP and eaten the loss.
by TravelforFun
Mon Feb 16, 2015 12:22 am
Forum: Personal Consumer Issues
Topic: Mental games
Replies: 32
Views: 2901

Re: Mental games

I speak one language at home, one language at work; keep up with friends on social media, keep up with the news, pay attention to our investment portfolio, make travel arrangements, and play three games on Chess.com daily. Soduku is getting boring.
by TravelforFun
Sun Feb 08, 2015 7:49 pm
Forum: Personal Consumer Issues
Topic: Paperless Office?
Replies: 55
Views: 3528

Re: Paperless Office?

This is what I have done: 1) Gotten a good quality multi-page scanner and scanned and filed all important documents 2) Downloaded and saved statements from financial firms, insurance companies, utility companies, etc... 3) Downloaded owners' manuals from manufacturers and thrown out hard copy manual...
by TravelforFun
Sat Feb 07, 2015 12:03 am
Forum: Personal Finance (Not Investing)
Topic: How to make this fair: gifting to kids with different means
Replies: 108
Views: 9950

Re: How to make this fair: gifting to kids with different me

Our kids are all different. Two are more successful than the third one and we give them differently. So in this example, I would explain to A that we're so proud of his/her accomplishment and wish that B had been more accomplished but since he/she is not, we feel we would need to help him/her a litt...
by TravelforFun
Mon Jan 19, 2015 7:57 pm
Forum: Investing - Theory, News & General
Topic: What was your costliest investment mistake?
Replies: 138
Views: 15475

Re: What was your costliest investment mistake?

Selling Apple and American Airlines too early.
by TravelforFun
Sat Jan 10, 2015 8:09 pm
Forum: Personal Consumer Issues
Topic: places to stay in Paris and Nice
Replies: 10
Views: 1635

Re: places to stay in Paris and Nice

Nice, France and the entire region is awesome!
http://bocung.com/cote_dazur_2010.html
by TravelforFun
Tue Jan 06, 2015 11:43 pm
Forum: Personal Finance (Not Investing)
Topic: Start a Roth IRA for Grandson
Replies: 30
Views: 2276

Re: Start a Roth IRA for Grandson

Aside from whether your plan gets past the IRS and you can find an IRA custodian, what's the end game for all of this? The end game is that if my grandson could contribute to his Roth every year for the next 55 years, the non-taxable withdrawals would be very sweet. And yes, Fidelity would allow hi...

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