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Re: How much to spend on a remodel?

We had no need to do it anytime soon as it is only the two of us and we were not planning on starting a family for 5-7 years, You have at about ten years until you will need it. Not only would your "new" bathroom be ten years old by then but the extra $20,000 could have been invested for ...
by Watty
Wed Oct 22, 2014 12:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much to spend on a remodel?
Replies: 7
Views: 689

Re: Gross Yearly Income needed in Retirement (Speculation)

I would be nice to hear from some Retirees. Not retired yet but from what I have seen my relatives go through it really varies by age. People in early retirement may spend a lot on things like travel and setting up a retirement home. By the time people are in their mid-70's or so they often natural...
by Watty
Wed Oct 22, 2014 12:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Gross Yearly Income needed in Retirement (Speculation)
Replies: 76
Views: 4002

Re: Can I stop saving for a retirement 30 years in the futur

Q1. Can I stop saving for old-age retirement? Q2. What should my next financial goals be? I agree that you are in great shape but until you are to the point that you could retire today it is too early to be thinking you are all set. College saving is important but other than that most of your other...
by Watty
Tue Oct 21, 2014 4:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I stop saving for a retirement 30 years in the future?
Replies: 11
Views: 2462

Re: Windows XP

Another consideration with using an older machine is that your disk drive may be pretty old too if you have not replaced it recently. For that reason alone it would be good to have a better than normal backup plan. If your power supply is older then that might be a concern too. Unless you have speci...
by Watty
Mon Oct 20, 2014 12:31 am
 
Forum: Personal Consumer Issues
Topic: Windows XP
Replies: 60
Views: 2267

Re: Benefits to a larger than necessary house (as children g

I had a home once with 5 BR, 3 full baths, 2 kitchens, LR, and family room....all in 2600 square feet. So I'm wondering just how all the space is being used in your 4000 square foot home. Something just doesn't doesn't add up. +1 12x12 (144 sq feet) is a good size kids bedroom. Even allowing for cl...
by Watty
Sun Oct 19, 2014 11:57 pm
 
Forum: Personal Finance (Not Investing)
Topic: Benefits to a larger than necessary house (as children grow)
Replies: 31
Views: 3197

Re: Australia and New Zealand

I happen to be heading off to New Zealand for three weeks this weekend and there will more than enough to fill up that time. The attraction on the north and south Island are so different that in some ways it will be like going to two destinations. @Watty - how was it? Overall it was a nice trip. It...
by Watty
Sun Oct 19, 2014 11:27 pm
 
Forum: Personal Consumer Issues
Topic: Australia and New Zealand
Replies: 36
Views: 3095

Re: lump sum [How to invest?]

Any advice?


For most people that want an annuity the best thing that they can do is to use the money that they would use to buy an annuity to afford be able to delay starting social security in order to get a larger social security check.
by Watty
Fri Oct 17, 2014 9:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: lump sum [How to invest?]
Replies: 5
Views: 639

Re: Former employee patent compensation

I would also look into what the term are of any employment agreement with your current employer. That might not allow contracting like that especially when it comes to patents.
by Watty
Fri Oct 17, 2014 9:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Former employee patent compensation
Replies: 5
Views: 699

Re: Anybody ever reduce term coverage amount?

I am thinking that in 20 years, I will be 65 and the house will most likely be nearly paid off. The only issue is that if I drop dead, there will be 2 kids in college. I plan to save for college, but with 2 kids in daycare sucking up $3K per month, this will be hard. What if I don't save enough Eve...
by Watty
Fri Oct 17, 2014 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anybody ever reduce term coverage amount?
Replies: 16
Views: 814

Re: need moral support (kinda)

how would i decide if it would have been better to wait til january ?? For future reference you can use tax software to make dummy tax returns to see how various choices work out. With all the interactions with phase-out's, AMT, state taxes etc that is the best way to get an idea of what the tax im...
by Watty
Fri Oct 17, 2014 4:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: need moral support (kinda)
Replies: 33
Views: 2881

Re: Young Professional Looking to Consciously Invest

as I'll soon be moving abroad. Tax rate: 25% for federal and 6.27% for state Check to see if you will be eligible for the 401K or an IRA while you are out of the country. I suspect not. I have not followed it closely but there have been a number of posts from ex-pats about not being able to open or...
by Watty
Thu Oct 16, 2014 4:20 pm
 
Forum: Investing - Help with Personal Investments
Topic: Young Professional Looking to Consciously Invest
Replies: 7
Views: 1136

Re: Balance Transfer Credit Card 1% fee, no APR for 1 year

Is there anything else I need to factor in? Other than currency risk and taxes I need to pay in foreign country for the interest I will earn in CD. Cyprus and Iceland Currency conversion costs when you convert the dollars to and from that currency. It could be an expensive nightmare for the people ...
by Watty
Thu Oct 16, 2014 4:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Balance Transfer Credit Card 1% fee, no APR for 1 year
Replies: 9
Views: 347

Re: Helping prepare family financially if earner dies early

It would be good to have a written investment policy statement that she can use for investing guidelines if she needs to and to make she that she knows about this site. http://www.bogleheads.org/wiki/Investment_policy_statement High fee financial "advisers" would have no qualms about putti...
by Watty
Wed Oct 15, 2014 8:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Helping prepare family financially if earner dies early
Replies: 8
Views: 1051

Re: Max out Roth IRA or pay student loans faster?

Putting enough in the 401k to get all the employer match is a must. Unless you are on a high income career path putting retirement money in a Roth instead of a deductible retirement account is not a compelling choice when you are above the 15% tax bracket. One option would be to put part of your eme...
by Watty
Wed Oct 15, 2014 8:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Max out Roth IRA or pay student loans faster?
Replies: 8
Views: 706

Re: $72k in 3 fund or a $72k 2 bed/1 bath condo rented

I would suspect that you might already own a house in the same area. If so then I would look at your home equity combined with the condo to see if you would be getting too much of your net worth in real estate. If you are retired being a landlord now might not be too hard(if you are lucky) but as yo...
by Watty
Wed Oct 15, 2014 4:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: $72k in 3 fund or a $72k 2 bed/1 bath condo rented
Replies: 21
Views: 1478

Re: -11.33% YTD, asking for some guidance

The part that I don't get is that I would be -7% (still better than -11%) if I picked "S&P 500 Index Separate account" correct ? How folks are able to make money with their 401k I'm still at a loss. They make money in the long run. Stocks are not a short-term investment. You could ver...
by Watty
Wed Oct 15, 2014 4:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: -11.33% YTD, asking for some guidance
Replies: 57
Views: 3375

Re: -11.33% YTD, asking for some guidance

I'm obviously in a very bad position and I'm a new 401k contributor (took a lot of time because of immigration status). ..... (I'm 28 years old) Actually you are in a pretty good position and lucky to have learned that lesson while you are starting out and are only down a moderate amount. Often peo...
by Watty
Wed Oct 15, 2014 4:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: -11.33% YTD, asking for some guidance
Replies: 57
Views: 3375

Re: need moral support (kinda)

MORAL support anybodY?? Turn the question around. If you had the cash for your house sitting in a checking account then would you put it in the stock market now? I doubt you would or that anyone else would recommend doing that for a short term investment. The only reason that I can see for delaying...
by Watty
Wed Oct 15, 2014 3:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: need moral support (kinda)
Replies: 33
Views: 2881

Re: What is common for a severance package?

I have seen zero and I've seen 1 week per year. Unless you have a contract nothing is guaranted. +1 I have also seen companies that will go out of their way to find reasons to fire people for cause prior to a layoff to reduce headcount without paying any severance. If there have been prior layoffs ...
by Watty
Wed Oct 15, 2014 12:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is common for a severance package?
Replies: 25
Views: 1806

Re: Thoughts on getting out [of job]

A good thing to do would be to consider what would happen you ran a bit short of money in retirement. For many people that live on the edge that could be dire but it should like for you a shortfall would only result in a modest reduction in lifestyle. If that is the case then it is likely not worth ...
by Watty
Wed Oct 15, 2014 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Thoughts on getting out [of job]
Replies: 35
Views: 4495

Re: Need dispensation to pay ROTH conversion taxes from tIRA

Since you will not be getting hit with a 10% early withdrawal penalty I don't see any problems with doing conversions in the 15% tax bracket even if it is coming out of a TIRA. The only exception that I can think of is if you will be leaving your estate to a charity or or heirs that are in a much lo...
by Watty
Tue Oct 14, 2014 9:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Need dispensation to pay ROTH conversion taxes from tIRA
Replies: 25
Views: 783

Re: Antique jewelry?

I figure this is a good a place to ask as any, but my girlfriend (hopefully soon to be fiancé) is pretty against diamonds (especially new) for various moral and thrift reasons. My question is, where does one find an honest antique dealer? Is there anyone online? Pawn shops just seem... wrong. As sh...
by Watty
Mon Oct 13, 2014 11:00 pm
 
Forum: Personal Consumer Issues
Topic: Antique jewelry?
Replies: 10
Views: 802

Re: Leaning towards buying a 1-BR condo in Bay Area

I'm 29, have a very stable career in the area, I have seen job offers and promotions go to the person who could relocate the easiest so that could be an issue. Even in the same general area taking a job on the other side of town could make your commute bad. At your age being able to easily relocate...
by Watty
Mon Oct 13, 2014 10:09 pm
 
Forum: Personal Consumer Issues
Topic: Leaning towards buying a 1-BR condo in Bay Area
Replies: 21
Views: 2045

Re: Do you plan trips on your own or use a [travel agent]?

A good starting point would be to get the Rick Steve's books and then just look at booking the hotels he recommends yourself. It is way too early to be booking hotels for next summer unless there is some big event where you are going to. You will have a much more enjoyable trip if you don’t stay at ...
by Watty
Wed Sep 17, 2014 4:41 pm
 
Forum: Personal Consumer Issues
Topic: Do you plan trips on your own or use a [travel agent]?
Replies: 36
Views: 1570

Re: Australia and New Zealand

My advice would be to pick one country or the other. If you are an outdoors person, I tell people that they shouldn't go to New Zealand unless they can take five weeks. We did it in three and it felt rushed. We didn't get to spend near the amount of time we wanted to in any location. We went as bac...
by Watty
Tue Sep 16, 2014 7:42 pm
 
Forum: Personal Consumer Issues
Topic: Australia and New Zealand
Replies: 36
Views: 3095

Re: Traditional 401k vs ROTH 401k? (hear me out!)

ROTH IRA: $52K Liquid $63K What are your annual expenses? You already have $115K in those account so most of that would be available to in a real crunch. You also have three sources of income. Even if you lost the two higher ones I would suspect that you could still last a long time on one income a...
by Watty
Tue Sep 16, 2014 6:53 pm
 
Forum: Investing - Help with Personal Investments
Topic: Traditional 401k vs ROTH 401k? (hear me out!)
Replies: 2
Views: 297

Re: Lump Sum Offer

A few questions to ask; 1) Do you have to take one or the other, or could you take half the lump sum and half the pensions. 2) What happens if you die before you start the pension? The lump sum would go to your estate but the pension might just go away if you don't have a spouse or your spouse dies ...
by Watty
Mon Sep 15, 2014 9:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Offer
Replies: 25
Views: 3115

Re: Am I in over my head?

One thing that I thought of what that now that you have some assets you should make sure that you have ample car insurance since you are now more prone to getting sued if you are in an accident. An umbrella policy would be worth looking into too but I don't know what sort of umbrella policy would be...
by Watty
Mon Sep 15, 2014 9:00 pm
 
Forum: Investing - Help with Personal Investments
Topic: Am I in over my head?
Replies: 51
Views: 4713

Re: Tiny house movement.

Am I being unrealistic? Yes. A lot of the building costs is site preparation, utilities, plumbing, electric systems, kitchen, bathroom, etc that have little to nothing to do with the square footage of the house. A lot of the labor is also related to getting the work ready to start and cleaning up a...
by Watty
Mon Sep 15, 2014 4:45 pm
 
Forum: Personal Consumer Issues
Topic: [can my family live in a] Tiny house
Replies: 60
Views: 4204

Re: Can You Build Your Retirement Portfolio Young, then Coas

Work hard for ten years during one's 20s/30s. During this time, save $100,000/yr in a mix of tax-deferred + back door Roth + taxable accounts for a total of $1 million contributed. Then quit that job, maybe go back to school to do something else or take a lower-paying job (such as working part-time...
by Watty
Mon Sep 15, 2014 4:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Can You Build Your Retirement Portfolio Young, then Coast?
Replies: 58
Views: 7436

Re: Reliable Portable CD Player Needed

I saw this post the other day and remembered the problems my wife had finding a CD player for the audible books she listens to. I checked Amazon and found this referbished one for $35 do I ordered it. It arrived today and it looks and works like new. http://www.amazon.com/Sony--J017CK-Walkman-Refurb...
by Watty
Sun Sep 14, 2014 9:44 pm
 
Forum: Personal Consumer Issues
Topic: Reliable Portable CD Player Needed
Replies: 28
Views: 1440

Re: Am I in over my head?

Everyone keeps telling me I should just speak with Financial Advisors and find one who has been doing it for a long time. I feel like I could just make a Vanguard account and do something like 40% total stock, 20% international stock, and 40% bonds. What would the benefits be of me finding a FA tha...
by Watty
Sun Sep 14, 2014 9:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Am I in over my head?
Replies: 51
Views: 4713

Re: Best Time Of Year To Visit Mediterranean

We were in the Greek Islands in the middle of September to very early October a few years ago and the weather was wonderful and it was not crowded at all. By late September we could get nice mid-range hotels near a beach for about $50 a night on the lessor visited Islands like Naxos and Paros. From ...
by Watty
Sun Sep 14, 2014 8:33 pm
 
Forum: Personal Consumer Issues
Topic: Best Time Of Year To Visit Mediterranean
Replies: 28
Views: 1420

Re: You may want to rethink the odds of ever needing LTCi

You also need to consider the difference in long term care costs and what your normal retirement budget is since many(but not all) of your other expense will be reduced if you go into a nursing home. If you end up having to pay $70,000 a year for nursing home (or whatever it cost in your area) but h...
by Watty
Sat Sep 13, 2014 10:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: You may want to rethink the odds of ever needing LTCi
Replies: 89
Views: 9162

Re: Inherited tIRA-benefits to liquidating?

A few things; 1) Are you maxing out all your deductible retirement accounts like 401k's ? If not then you could do something like increase your monthly 401K payroll deduction but $1,000 a month and also withdraw $1,000 a month from the inherited IRA. Those would basically offset each other on your t...
by Watty
Sat Sep 13, 2014 9:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Inherited tIRA-benefits to liquidating?
Replies: 14
Views: 895

Re: Is my computer monitor going bad?

If you have a light weight monitor - bring it to a friend's house to try when they first boot up their computer. Could be monitor (most probably) - could be video card. Or attach the monitor to a laptop to see if it works OK on the laptop. Since the green light is flickering I would also try pluggi...
by Watty
Sat Sep 13, 2014 8:48 pm
 
Forum: Personal Consumer Issues
Topic: Is my computer monitor going bad?
Replies: 12
Views: 757

Re: Rental property with in-laws: please help!

They were nice about it and let us deduct the interest since they couldn't because it was under my wife's name. We deduct the interest, but I'm assuming their property management company that they own is deducting other items such as the cost of management and depreciation. Maybe they are using it ...
by Watty
Sat Sep 13, 2014 8:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Rental property with in-laws: please help!
Replies: 128
Views: 7956

Re: Could you sleep with all your money in Berkshire Hathawa

I don't want any of it; in my opinion too much of the value is tied to one man and while it it a pessimistic view I think the value will sink like a rock when he is gone. I guess we will find out if I am right some day. Good luck with that, if you have a total stock market index fund then about 1% ...
by Watty
Sat Sep 13, 2014 7:26 pm
 
Forum: Investing - Theory, News & General
Topic: Could you sleep with all your money in Berkshire Hathaway?
Replies: 49
Views: 3944

Re: The Annuity Puzzlement

Also, I have never understood - and will never understand - why people are willing to take market risk for decades to build up a portfolio. Then, give a big chunk of it away at the end in form of a risk premium payment to an insurance company. I don't understand what changes so drastically in someo...
by Watty
Sat Sep 13, 2014 4:10 pm
 
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzlement
Replies: 95
Views: 6676

Re: Ethics of Multi-Generational Tax Optimization

One thing to be very careful about is that even if he understands it and approves today if he declines farther he might not remember what was going on and there could be a misunderstanding about what had happened to the money. I have known several people that had to help out with managing their pare...
by Watty
Fri Sep 12, 2014 11:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Ethics of Multi-Generational Tax Optimization
Replies: 23
Views: 1845

Re: Is USD the best currency to choose for index fund invest

I found that I can open an account with interactive brokers. I am not familiar with that brokerage but if they are US based then I would be very cautious about keeping your money in the US if you live outside the US and are not a US citizen. The problem is that in addition to constantly changing ta...
by Watty
Fri Sep 12, 2014 11:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: [from Euro country, use USD to invest in US index funds?]
Replies: 19
Views: 1274

Re: The Annuity Puzzlement

So what am I missing? Right or wrong, inflation is the reason that I am skeptical of annuities. The typical person retiring today can remember double digit inflation in the late 1970's and early 1980's. I'm not retired yet but I can still remember being excited when the interest rates dipped the da...
by Watty
Fri Sep 12, 2014 11:17 pm
 
Forum: Investing - Theory, News & General
Topic: The Annuity Puzzlement
Replies: 95
Views: 6676

Re: Is there a "catch" in this Xfinity offer ?

I would have to change my email which is a major hassle but I am wondering if it is worth it. The rated speed is only one of many factors that determines your response time. Unless you are having problems now or have a lot of people using the internet at the same time then you not notice much of a ...
by Watty
Fri Sep 12, 2014 11:26 am
 
Forum: Personal Consumer Issues
Topic: Is there a "catch" in this Xfinity offer ?
Replies: 23
Views: 1628

Re: Suggestions /Advice for a fresh college graduate

He needs to do some research about what his job prospects are if he goes into law. http://www.forbes.com/sites/emsi/2014/01/10/the-job-market-for-lawyers-side-work-on-the-rise-amid-continuing-glut-of-new-grads/ Getting career counseling at his university would be a good thing to do but he might not ...
by Watty
Thu Sep 11, 2014 11:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Suggestions /Advice for a fresh college graduate
Replies: 29
Views: 1598

Re: Clean, quiet, safe and cheap. Is there such a travel pla

Do you have suggestions? Not a specific suggestion but many college towns have very inexpensive housing available for subleasing in the summer when school is out. Many, but not all, resort areas are very seasonal so finding an inexpensive summer condo in a ski area, or a winter condo in a beach are...
by Watty
Thu Sep 11, 2014 11:02 pm
 
Forum: Personal Consumer Issues
Topic: Clean, quiet, safe and cheap. Is there such a travel place?
Replies: 75
Views: 5813

Re: Why COULDN'T we just retire on Social Security?

The SS retirees would also be ahead $2300 in payroll taxes, $1000 in income taxes, have their own house and not have to work, so not that close an equivalence in standard of living. It is hard to compare since with a home there would also be property taxes, maintenance, and utilities that they woul...
by Watty
Thu Sep 11, 2014 5:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why COULDN'T we just retire on Social Security?
Replies: 66
Views: 6056

Re: Quit/retire - should I do this?

What else should I be considering? I thought I was ready to do this but keep feeling like there’s things I’m not thinking of. It would be good to get a very good physical before giving your notice. Ask your doctor if there are any additional screening tests that they would recommend even if the ins...
by Watty
Thu Sep 11, 2014 4:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Quit/retire - should I do this?
Replies: 41
Views: 3831

Re: Why COULDN'T we just retire on Social Security?

So let's say a combined $2500 in today's dollars. That is $30,000 a year( if both of you are still surviving, which is a big “IF”) For comparison two people working full time at the federal minimum wage($7.25) would earn $30,160 a year. If you have a paid off house by then and Medicare for health i...
by Watty
Thu Sep 11, 2014 4:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Why COULDN'T we just retire on Social Security?
Replies: 66
Views: 6056

Re: How much value can an advisor add for the average invest

In that case, wouldn't the services named above be worth the 1% AUM fee they may charge? Doing that sort of stuff might take 10 or less(probably less) hours per year for the sort of "average" person that you are talking about. At $100 and hour that might have a fair value of $1,000 to be ...
by Watty
Wed Sep 10, 2014 6:41 am
 
Forum: Investing - Theory, News & General
Topic: How much value can an advisor add for the average investor?
Replies: 71
Views: 5013

Re: Do I invest or pay higher mortgage downpayment?

If it is a jumbo loan and a bigger down payment would get you a better interest rate then that might be a good idea. If you the house will not be paid off by the time you will retire then getting a shorter mortgage to have it paid off by them could be a good idea. Maxing out any deductible retiremen...
by Watty
Mon Sep 08, 2014 10:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Do I invest or pay higher mortgage downpayment?
Replies: 55
Views: 3344
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