Search found 104 matches

by chipperd
Sun May 17, 2015 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Should we purchase home without permits?
Replies: 70
Views: 4741

Re: Should we purchase home without permits?

I think that entering into a large financial commitment in which you will lack liquidity will result in you having to change your name sake from financial freedom to something less desirable.
by chipperd
Sun May 17, 2015 6:59 am
Forum: Personal Consumer Issues
Topic: How do I get best deal on trade in?
Replies: 14
Views: 1689

Re: How do I get best deal on trade in?

PS: Since we typically purchase popular vehicles (this time a 2012 Camry) I am never afraid to walk away knowing there are many fish in the sea
by chipperd
Sun May 17, 2015 6:58 am
Forum: Personal Consumer Issues
Topic: How do I get best deal on trade in?
Replies: 14
Views: 1689

Re: How do I get best deal on trade in?

Just went through this process myself. I went to Kelly Blue Book and Edmunds websites. They will give you the values (cash/trade) of your used vehicle then you know what the market says your vehicle is worth. We only buy used 3-4 year old vehicles ourselves, allowing the previous owner to eat most o...
by chipperd
Wed Apr 08, 2015 7:50 am
Forum: Personal Consumer Issues
Topic: Vehicle Suggestions with 3 Kids
Replies: 41
Views: 2954

Re: Vehicle Suggestions with 3 Kids

Definitely a big +1 on the Sienna. We have had two. Bought both about 3 years old and first one went 190k miles before we traded in to the current one, which is 10 years old and 186k miles. At the risk of jinxing myself, few repairs other than brakes, tires, oil changes and one major tune up with ne...
by chipperd
Tue Mar 24, 2015 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Questions - Soccer Coach (1099) & W2
Replies: 10
Views: 987

Re: Tax Questions - Soccer Coach (1099) & W2

I am a sole proprietor and I have an accountant do my taxes. He will ask me every year how much my cell phone, car, internet... is used as a percentage for the business. He says, in my case, that the per mile u.s. govt rate (maybe $.56/mile? Not sure) is the best way to deduct auto usage. Hope that ...
by chipperd
Tue Mar 24, 2015 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 661

Re: max out SEP as employer and Traditional IRA?

Ok. Thanks. Very helpful!
by chipperd
Tue Mar 24, 2015 11:26 am
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 661

Re: max out SEP as employer and Traditional IRA?

Thanks again for the input, which prompted yet another question (just don't want to run astray of the IRS):
The MAGI income limits to the full deduction on the traditional ira, individual or combined? We file married/joint.
Thanks
by chipperd
Tue Mar 24, 2015 3:49 am
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 661

Re: max out SEP as employer and Traditional IRA?

To provide some more info based on responses. The max allowable for me to contribute to my SEP this year was $10,100, so I am looking for more ways to reduce taxable income and save for retirement. I know about contributing to a roth, but thoughts a traditional IRA could be an option to meet both go...
by chipperd
Sun Mar 22, 2015 8:06 am
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 661

max out SEP as employer and Traditional IRA?

Another SEP question that I have researched but not heard a lot about.
If, as a sole proprietor, I max out my employer contributions to my SEP, can I also contribute to my personal, traditional IRA in the same tax year and get both tax deductions?
by chipperd
Sat Mar 21, 2015 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching a responsible teen about money
Replies: 12
Views: 1212

Re: Teaching a responsible teen about money

+1 to Lafder post. We have two soon to be three teens in our house. Mixed personalities as far as saving/spending/frugality. We give each a monthly allowance on the first of the month. They are to use this for their own expenses (ie: clothing, fun, eating out/at school...). We pay for activities/edu...
by chipperd
Sat Mar 21, 2015 4:29 am
Forum: Personal Finance (Not Investing)
Topic: SEP. Over contribution
Replies: 4
Views: 537

Re: SEP. Over contribution

Thanks for the input and here is an update. I called Vanguard and the rep said I could change my recent contributions made in the 2015 calender year that were earmarked for 2014 tax year to the 2015 tax year, which I did. That was most of the over contribution ($3200 of the $3600 over contribution)....
by chipperd
Mon Mar 16, 2015 5:21 am
Forum: Personal Finance (Not Investing)
Topic: SEP. Over contribution
Replies: 4
Views: 537

SEP. Over contribution

Hello all.
I am a sole proprietor (employer and employee) with a SEP. I exceeded my contribution limits by about $3,600 for the 2014 tax year (all as the employer). Wondering if I can somehow change the excess contribution to the 2015 tax year?
Thanks for the input.
by chipperd
Sun Mar 08, 2015 7:02 am
Forum: Personal Finance (Not Investing)
Topic: financial engines on vanguard site?
Replies: 5
Views: 929

Re: financial engines on vanguard site?

Thanks to you all I was able to find the info/link/website. Thanks!
by chipperd
Sat Mar 07, 2015 6:50 am
Forum: Personal Finance (Not Investing)
Topic: financial engines on vanguard site?
Replies: 5
Views: 929

financial engines on vanguard site?

Hello,
I have been relying, in a large part but not in whole, on the financial engines website that I would access via Vanguard. With the new look vanguard site, I can't seem to locate the link to financial engines. Can someone help me out?
Thanks
by chipperd
Sun Feb 15, 2015 9:25 am
Forum: Personal Finance (Not Investing)
Topic: freeze kids' accounts with the 3 bureaus?
Replies: 9
Views: 1219

Re: freeze kids' accounts with the 3 bureaus?

Thanks all for your thoughts and info. Responses seem to be mixed so far. Perhaps some more detailed info to help narrow down the answer. 15 year old . Very part time soccer referee with a schwab roth accoun, bank account and a CD 13 year old with no work hx. Bank account. 11 year old with no work h...
by chipperd
Sat Feb 14, 2015 7:13 am
Forum: Personal Finance (Not Investing)
Topic: freeze kids' accounts with the 3 bureaus?
Replies: 9
Views: 1219

Re: freeze kids' accounts with the 3 bureaus?

Just remembered to add: all three are minor children
by chipperd
Sat Feb 14, 2015 7:08 am
Forum: Personal Finance (Not Investing)
Topic: freeze kids' accounts with the 3 bureaus?
Replies: 9
Views: 1219

freeze kids' accounts with the 3 bureaus?

Long time reader, part time poster, many year benefactor of advise from this forum and looking for guidance. We (family) have had Anthem health insurance for decades and I just froze both my and wife's credit with the three bureaus. Now wondering if I should also do so for my three kids, all covered...
by chipperd
Thu Jul 31, 2014 6:06 am
Forum: Investing - Help with Personal Investments
Topic: Help me save my parents from Merrill Lynch
Replies: 54
Views: 7286

Re: Help me save my parents from Merrill Lynch

Agree with the good professor.
If, however, they can't be convinced by the numbers, maybe they give M.L. 30k (10%) and they invest the other 90%. Then see how much they have yearly after expenses?
by chipperd
Sun Feb 23, 2014 10:27 am
Forum: Personal Consumer Issues
Topic: Best place to buy bike parts
Replies: 22
Views: 1842

Re: Best place to buy bike parts

Bike Nashbar?
www.bikenashbar.com
by chipperd
Sun Feb 16, 2014 8:18 am
Forum: Personal Consumer Issues
Topic: Pull-ups and Push-ups
Replies: 395
Views: 70736

Re: Pull-ups and Push-ups

Going to wade out into the potentially rough waters here. Regarding the male/female push up difference, my experience. I coach 5th/6th grade girls travel basketball. At the end of each practice, after one hour of hard practice and suicides at the end of each practice, I have them do three sets of pu...
by chipperd
Sat Jan 11, 2014 6:43 am
Forum: Personal Consumer Issues
Topic: How much should a good dentist make yearly?
Replies: 78
Views: 16708

Re: How much should a good dentist make yearly?

A thought for the OP: I know you mentioned you take professional classes. I wonder if you and your wife would be willing to take financial classes together? My wife and I did and although it was mainly for those with lower incomes/lower net worth (Dave Ramsey; Financial Peace) we benefitted in a sen...
by chipperd
Sat Jan 11, 2014 6:23 am
Forum: Personal Consumer Issues
Topic: How much should a good dentist make yearly?
Replies: 78
Views: 16708

Re: How much should a good dentist make yearly?

It's a matter of respect and efficiency in scheduling. If the office is consistently 1-2 hrs behind schedule, then it's a matter of changing the scheduling to fewer and potentially longer blocks of time to more accurately reflect the reality of what the appointments require. It doesn't have to be &...
by chipperd
Fri Jan 10, 2014 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Maximum contributions to Simple IRA for the Self Employed
Replies: 12
Views: 453

Re: Maximum contributions to Simple IRA for the Self Employe

Congrats on being on your own. I have been a small business owner for 10 years now. Very small, just me. When I started out I was advised to open a SEP IRA since the maximum contributions are higher; I believe 25% of net or 52,000, which ever is lower. See link: https://investor.vanguard.com/what-we...
by chipperd
Sun Jan 05, 2014 5:12 am
Forum: Personal Consumer Issues
Topic: Possible new car in the cards
Replies: 13
Views: 995

Re: Possible new car in the cards

In my opinion, I would fix the car for 1k or even more. While the mechanic is working on the car, if you trust him/her, ask about the overall condition of the car. We typically do this prior to purchase by paying our mechanic $50 to go through the car in an unbiased manner. Cars are depreciating ass...
by chipperd
Thu Jan 02, 2014 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Single & Frugal or Coupled & (Financially) Incompatible?
Replies: 77
Views: 6256

Re: Single & Frugal or Coupled & (Financially) Incompatible?

Great topic and another vote for a bogelheads singles sub forum. For what it's worth, my experience.. My wife and I met when we were 25/23. Been together 20 years, married 17. both professionals, me with small private practice. 3 kids; 2 tweens and one early teen. House, two cars, dog; you get the p...
by chipperd
Fri Dec 13, 2013 5:50 am
Forum: Personal Consumer Issues
Topic: Tips for buying a $2,000 car
Replies: 31
Views: 2815

Re: Tips for buying a $2,000 car

That's really tough territory b/c you are talking about a 13 year old, or more, car. All the suspension connections and anything with exterior rubber will be at or near the end of it's lifespan and failing to replace, if needed, could be verrrry risky. Definitely want to spend the $ to have mechanic...
by chipperd
Wed Dec 11, 2013 6:05 am
Forum: Personal Consumer Issues
Topic: Splitting costs on beach house
Replies: 18
Views: 1815

Re: Splitting costs on beach house

Reminds me of living with two friends as roomates in a 3 bed apt. Very different bedrooms. We decided the cost differential first, then flipped cards. Highest card picked first, second highest picked second. This way the cost differentials were decided before the decision was made about who stays wh...
by chipperd
Sun Oct 27, 2013 6:41 am
Forum: Investing - Theory, News & General
Topic: how to set up roth for my son
Replies: 11
Views: 917

Re: how to set up roth for my son

Thanks to you all for your input.
Looks like he is going with the Schwab total stock fund due to low initial investment amount ($100) and low expenses (.09%)
Thanks again
by chipperd
Thu Oct 24, 2013 5:51 am
Forum: Investing - Theory, News & General
Topic: how to set up roth for my son
Replies: 11
Views: 917

how to set up roth for my son

Hello, I have been a frequent reader of this forum and have really learned a lot from the collective wisdom of those who contribute. I am looking for guidance regarding my 13 year old son. He has his first job as a soccer referee (yeah!) and my questions involve his expressed interest in setting up ...
by chipperd
Thu Oct 24, 2013 5:34 am
Forum: Personal Consumer Issues
Topic: pet plan insurance
Replies: 15
Views: 1120

Re: pet plan insurance

Our experience was negative. Between the cost, exceptions and deductible it didn't pay for us
by chipperd
Mon Jul 08, 2013 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 167
Views: 19352

Re: How to get over finance envy

Sounds like you are doing the right thing, which in my experience has very little to do with what others do or don't do. Stay your course that you feel is best and if you want a bigger house for reasons that have to do with you, not others, change your course
by chipperd
Fri Jul 05, 2013 5:56 am
Forum: Personal Finance (Not Investing)
Topic: Joining a religious order with a poverty vow
Replies: 62
Views: 3243

Re: Joining a religious order with a poverty vow

+1 on both archbish comments
by chipperd
Fri Jul 05, 2013 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Pen Fed 5 year equity loan. Weird!
Replies: 24
Views: 2670

Re: Pen Fed 5 year equity loan. Weird!

Thanks for all the input. I think I will follow up with phone call later today to ask some more pointed questions.
by chipperd
Thu Jul 04, 2013 6:14 am
Forum: Personal Finance (Not Investing)
Topic: Pen Fed 5 year equity loan. Weird!
Replies: 24
Views: 2670

Pen Fed 5 year equity loan. Weird!

Hello all, Been avid reader of this site and part time poster. Wanted to briefly share my experience with our attempts to take out a home equity loan through Pen Fed CU. We owe about 140k on a home valued around 450k. Our loan is variable HELOC (prime minus 1.01%) and wanted to reduce some risk via ...
by chipperd
Sun Jun 16, 2013 5:00 am
Forum: Personal Finance (Not Investing)
Topic: Which mortgage option?
Replies: 11
Views: 861

Re: Which mortgage option?

Agree with watty. Seriously consider looking into paying points if you will be in the home for as long as you say. Run the numbers in a mortgage calculator. In the end, paying points on a 30 year along with the flexibility of that term probably better for your situation.
by chipperd
Thu May 16, 2013 5:20 am
Forum: Personal Finance (Not Investing)
Topic: Emergency Room Visit -- HDHP
Replies: 58
Views: 4895

Re: Emergency Room Visit -- HDHP

Well said, erdoc. Well said.
by chipperd
Tue Apr 09, 2013 6:48 am
Forum: Personal Consumer Issues
Topic: Should I buy a car or get my current one repaired?
Replies: 23
Views: 1802

Re: Should I buy a car or get my current one repaired?

My vote; get the car repaired, much cheaper than buying new or used. If you don't trust the vehicle for the trip, either before or after repairs, perhaps look into renting similar car for the road trip for the three months. If trip is work related, rental may be tax deductable.
by chipperd
Thu Mar 28, 2013 9:13 am
Forum: Personal Consumer Issues
Topic: American Express Blue Cash Everyday card
Replies: 26
Views: 9385

Re: American Express Blue Cash Everyday card

Agree with the idea of paying the $75 for the additional percentage in grocery cash back.
Note: we use the penfed visa for gas only-%5 cash back on fuel.
by chipperd
Mon Mar 18, 2013 3:43 am
Forum: Personal Finance (Not Investing)
Topic: save for college or pay down mortgage
Replies: 13
Views: 1839

Re: save for college or pay down mortgage

Thanks for your helpful input bulldawg
by chipperd
Sun Mar 17, 2013 5:57 am
Forum: Personal Consumer Issues
Topic: Continuous Variable Transmissions
Replies: 78
Views: 7417

Re: Continuous Variable Transmissions

I have a 2008 maxima with 3.5l v6 and cvt transmission. The cvt does take some getting used to but I was drawn to it's smooth acceleration and better milage. I routinely get 25mpg overall with the large v6. On this model, you can also slide the shifter over to "manual" and shift/brake with...
by chipperd
Sat Mar 16, 2013 11:59 am
Forum: Personal Finance (Not Investing)
Topic: save for college or pay down mortgage
Replies: 13
Views: 1839

Re: save for college or pay down mortgage

Letsgobobby,
Thanks for the info and reference.
by chipperd
Sat Mar 16, 2013 5:59 am
Forum: Personal Finance (Not Investing)
Topic: save for college or pay down mortgage
Replies: 13
Views: 1839

Re: save for college or pay down mortgage

Ok, thanks again livesoft.
by chipperd
Fri Mar 15, 2013 8:25 am
Forum: Personal Finance (Not Investing)
Topic: save for college or pay down mortgage
Replies: 13
Views: 1839

Re: save for college or pay down mortgage

Livesoft
I found this:
http://iracontributionlimits2010.com/se ... 0/2010/08/

does this jive with what you are suggesting?
by chipperd
Fri Mar 15, 2013 8:22 am
Forum: Personal Finance (Not Investing)
Topic: save for college or pay down mortgage
Replies: 13
Views: 1839

Re: save for college or pay down mortgage

Thanks to you both. Livesoft, I will look into the amounts you suggested. our acct. told us that 20% was the max, but he could, and has, been wrong.
by chipperd
Fri Mar 15, 2013 6:47 am
Forum: Personal Finance (Not Investing)
Topic: save for college or pay down mortgage
Replies: 13
Views: 1839

Re: save for college or pay down mortgage

Livesoft, Thanks for the idea. In concept, what you say makes sense, but we were told by our accoutant that this year we can only contribute 11k to max out the SEP. Roths and 457 max, i believe, would bring the retiremement contribution total to about 39k, no? Please correct my assumptions if incorr...
by chipperd
Fri Mar 15, 2013 6:12 am
Forum: Personal Finance (Not Investing)
Topic: save for college or pay down mortgage
Replies: 13
Views: 1839

save for college or pay down mortgage

Hello all, I have been reading this board for a couple years, learning from the questions and posts and would like to call on the boglehead group knowledge regarding a question my wife and I are facing. Should we pay down the mortgage or, given federal/private college aid formulas, save for college,...
by chipperd
Sun Mar 03, 2013 6:34 am
Forum: Personal Consumer Issues
Topic: Never Want To Take Out A Loan Again.
Replies: 110
Views: 7547

Re: Never Want To Take Out A Loan Again.

I agree with all who have suggested that you set up a budget and spend less than you take in and I would add plan for that next emergency. While I am not a fan of Dave Ramsey's investment advice (as someone mentioned above) my wife and I ( and kids) are in his "Financial Peace University" ...
by chipperd
Wed Feb 27, 2013 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: making our money work for us
Replies: 64
Views: 6495

Re: making our money work for us

The other posters are much nicer then me. You are 35 and couldn't afford the first house (still have the PMI to show for it), have not invested for future retirement, AND now considering buying another house. You need to start thinking about being responsible individuals and develop a well thought ...
by chipperd
Thu Jan 24, 2013 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Can I Afford this House?
Replies: 57
Views: 3266

Re: Can I Afford this House?

Don't overthink this. At 26/27 you are absolutely CRUSHING it in the amount of accumulated retirement savings. I know part of it is inherited, but trust me your bank account does not know the difference. I know 57 years olds that would do anything to have the same portfolio. Even with conservative ...
by chipperd
Wed Jan 09, 2013 6:10 am
Forum: Investing - Help with Personal Investments
Topic: 26 and self employed [Portfolio help]
Replies: 5
Views: 696

Re: 26 and self employed [Portfolio help]

Hi, Welcome. I am self employed and have been for about 8 years. I set up a SEP (called self employed pension) which sounds like it may be similar to a solo 401k. It's not really a pension plan but a vehicle that you can put up to 20% of your agi away annually into tax diferred savings. The limit is...

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