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Re: How to track expenses to the penny?

I use YNAB (You Need A Budget) software to track and budget. It's user friendly and the iphone app makes it easy to enter spending on the fly. If I 'm buying things in multiple categories, I group them and ask the cashier to sub total each group. Or just ring them up as separate transactions. It's n...
by ddunca1944
Tue Jul 22, 2014 12:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to track expenses to the penny?
Replies: 33
Views: 1721

Re: How would you handle this situation if it was you.

If it was me, I would 1) Sell the car and get a much cheaper car, preferably with no payment (that should also lower the ins premium as well) 2) Dump the cell and go to a prepaid or pay as you go. I'm paying $40/mo for my grandson's phone (unlimited voice and texts, limited data) 3) Pay off any and ...
by ddunca1944
Mon Jul 21, 2014 6:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: How would you handle this situation if it was you.
Replies: 15
Views: 1733

Re: Poll - Do you use Quicken?

Former Quicken user. Now I use YNAB for budgeting. Mac
by ddunca1944
Mon Jul 21, 2014 1:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll - Do you use Quicken?
Replies: 59
Views: 2140

Re: Anyone here use Personal Capital?

SuperGrafx wrote:
I was also a bit concerned about an external website having access to all my accounts.


I was concerned enough to delete my account with them and change my VG password
by ddunca1944
Sat Jul 19, 2014 2:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anyone here use Personal Capital?
Replies: 48
Views: 4136

Re: Buy a condo for college?

If your sons are responsible, it can be a great idea. My sis and BIL did that when his son went to college. The kid got a roommate, charged rent and that was his spending money. When he graduated, they sold the condo at a profit.
by ddunca1944
Fri Jul 18, 2014 6:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buy a condo for college?
Replies: 29
Views: 2345

Re: Anybody have any experience with Medicare IRMAA?

So in other words, we should take my husbands name off the house before we sell? He will be eligible for Medicare in 2016. Does anyone have any experience with this issue? Yes, we sold a rental house in 2012 resulting in a taxable income over twice our normal taxable income. Not only are we paying ...
by ddunca1944
Sun Jul 13, 2014 7:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anybody have any experience with Medicare IRMAA?
Replies: 9
Views: 539

Re: Anybody have any experience with Medicare IRMAA?

Does anyone have any experience with this issue? Yes, we sold a rental house in 2012 resulting in a taxable income over twice our normal taxable income. Not only are we paying $209.80 (each) for Medicare Part B, we are also paying an additional $31.10/mo IRMAA on our Part D premium of $12.60.... Ou...
by ddunca1944
Sun Jul 13, 2014 6:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Anybody have any experience with Medicare IRMAA?
Replies: 9
Views: 539

Re: Dip into IRAs to pay off CC debt?

Thanks, this is all great advice. We'll see how this first month of budgeting goes and report back before we make any big changes like selling the rental. Looking into YNAB. Family business has been around 30+ years. It's fairly strong. Two family members (who started the business) are retiring in ...
by ddunca1944
Tue Jul 08, 2014 7:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dip into IRAs to pay off CC debt?
Replies: 28
Views: 2019

Re: Retiring without any Direction

If your mom wants to travel, then your mom should travel without your dad. If she makes excuses about that, then …. +1 If she wants to go to Europe, she should look at the Rick Steves tours... Friends just got back from a 3 week RS tour and said three of the group were married women traveling witho...
by ddunca1944
Mon Jul 07, 2014 12:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retiring without any Direction
Replies: 26
Views: 2034

Re: Am I on track ?

Age: 33 single mom --single income Marginal Tax Federal 10% State 0 Emergency Fund: 60K Debt: 145K mortgage Pension will be about 80% of last 36 months salary Salary 45K There's something here that doesn't make sense to me. The 10% federal marginal rate for single filers is for incomes up to $9,075...
by ddunca1944
Sun Jul 06, 2014 5:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Am I on track ?
Replies: 16
Views: 1714

Re: Am I on track ?

Age: 33 single mom --single income Marginal Tax Federal 10% State 0 Emergency Fund: 60K Debt: 145K mortgage Pension will be about 80% of last 36 months salary Salary 45K 800K Term Life Insurance Vanguard Target Retirement 2045 Fund : balance 195K Currently, I can only contribute 5K a year to Roth d...
by ddunca1944
Sat Jul 05, 2014 5:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Am I on track ?
Replies: 16
Views: 1714

Re: Buying adult child a house vs paying their rent

The pregnancy throws a wrench into it all, since there is no way the mom, who is grandma of the baby to be, will NOT pay utilities for the baby's safety. Now the daughter has "need" for a cell phone in case of emergency. Cable and internet are a luxury they are already going without. lafd...
by ddunca1944
Sat Jul 05, 2014 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying adult child a house vs paying their rent
Replies: 37
Views: 4005

Re: Retirees - What % of your income is for basic essentials

I estimated about 55% to 60% of our income goes to essentials. That would be without moving or otherwise lowering our standard of living. It entails cutting entertainment sharply and eliminating travel other than short outings. We could live on about 1/3 of our income if we had to, but it would mean...
by ddunca1944
Thu Jul 03, 2014 5:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Retirees - What % of your income is for basic essentials
Replies: 25
Views: 2197

Re: In retirement you expect you standard of living to?

Although I voted "stay the same", (because that is what we expected and hoped for), our standard of living has actually gone up. We are in year 7 of retirement.
by ddunca1944
Thu Jul 03, 2014 10:48 am
 
Forum: Personal Finance (Not Investing)
Topic: In retirement you expect your standard of living to?
Replies: 55
Views: 4503

Re: How are you doing through the first half of 2014?

We are up 5.5% YTD (AA is 45/55)
by ddunca1944
Wed Jul 02, 2014 2:35 pm
 
Forum: Investing - Theory, News & General
Topic: How are you doing through the first half of 2014?
Replies: 91
Views: 9300

Re: Help with inheritance for disabled brother-in-law

I'm puzzled as to why you feel a special needs trust would preclude using the money for housing? Have you talked to an attorney who specializes in special needs trusts? That would be my first step... (I have a special needs trust account for my disabled granddaughter. It is very inexpensive because ...
by ddunca1944
Wed Jul 02, 2014 11:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Help with inheritance for disabled brother-in-law
Replies: 6
Views: 523

Re: [Poll] Which do you include in Asset Allocation?

surfstar wrote:My retirement accounts (Roth and 457b) are all I look at for AA purposes.
I exclude future pension, paltry SS, checking/savings/EF, etc.


+1
This is what I do as well.
by ddunca1944
Tue Jul 01, 2014 4:53 pm
 
Forum: Investing - Theory, News & General
Topic: [Poll] Which do you include in Asset Allocation?
Replies: 41
Views: 2630

Re: Who do you talk with about your financial goals?

No one other than my spouse.
Can't tell my kids (they are struggling)
Can't tell my sis (she'll think I'm bragging)
Can't tell friends; we are better off. It would sound like bragging.

I do post on financial message boards....
by ddunca1944
Sat Jun 28, 2014 10:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Who do you talk with about your financial goals?
Replies: 158
Views: 9003

Re: Washington State Education Bond vs 529

Are you referring to the GET (Guaranteed Education Tuition) program?
I have that for my grandkids. Started about 2005 and very happy with it.
by ddunca1944
Wed Jun 25, 2014 10:21 am
 
Forum: Personal Finance (Not Investing)
Topic: Washington State Education Bond vs 529
Replies: 2
Views: 212

Re: Budget or create saving buckets?

mlipps wrote:Just to be clear, I didn't say the above, OP did. :)


Sorry. I've edited to correct.... :oops:
by ddunca1944
Mon Jun 23, 2014 7:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Budget or create saving buckets?
Replies: 109
Views: 7301

Re: Budget or create saving buckets?

Here's where I ran into a pitfall with Mint: I set up both with the same budget and after few days I found myself leaning towards Mint..mostly for the automation. I felt I was too busy (or too lazy) to add every transaction in YNAB . And if we don't keep it updated we can't trust the system. With M...
by ddunca1944
Mon Jun 23, 2014 6:55 pm
 
Forum: Personal Finance (Not Investing)
Topic: Budget or create saving buckets?
Replies: 109
Views: 7301

Re: "Having the wealth transfer conversation"

I have not had the discussion with my children for a different reason; One adult child is the antithesis of a Boglehead. When he inherits, he will consider it his mission to blow through his inheritance as wastefully as possible The second is the opposite. He's a saver but not an investor. I've told...
by ddunca1944
Mon Jun 23, 2014 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Having the wealth transfer conversation"
Replies: 21
Views: 2948

Re: Family Budget

Your budget looks a lot like ours. We are a family of five (two adults, a six year old, four year old, 1 year old). I can't recommend a tool like You Need A Budget highly enough. We've been using it over a year and the data not only helped me drive out a lot of spending that didn't drive any increa...
by ddunca1944
Mon Jun 23, 2014 2:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Family Budget
Replies: 17
Views: 2045

Re: Budget or create saving buckets?

e.g. Buy $100 groceries with card, mark it as transaction in Checking in YNAB Yes it will reduce checking balance (not reality)...to me that means, that money is "locked" or ear-marked, to be the withdrawn from Checking act, in the future, as part of the CC bill. That what I meant. What y...
by ddunca1944
Sun Jun 22, 2014 7:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Budget or create saving buckets?
Replies: 109
Views: 7301

Re: when the rubber hits the road

I would like to express my appreciation for bringing up a difficult, but too often very pertinent issue. I think about this possibility a great deal due to my own family history. As the family financial manager I have several goals: Complete estate planning (wills, power of attorney, health care dir...
by ddunca1944
Wed Jun 18, 2014 5:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: when the rubber hits the road
Replies: 19
Views: 1832

Re: Tax Bracket Management at 15%/25% Boundary

We are in a similar position. For the next 5 years (until my husband turns 70 1/2) we can keep ourselves in the 15% bracket.

I used Bigfoot's spreadsheet to optomize Roth coversions. Found it hugely helpful.
by ddunca1944
Wed Jun 18, 2014 11:22 am
 
Forum: Personal Finance (Not Investing)
Topic: Tax Bracket Management at 15%/25% Boundary
Replies: 33
Views: 3244

Re: With no children, who will take care of my finances?

Would a geriatric social worker or someone in a similar position have a fiduciary responsibility? BFG I would not expect that a geriatric social worker would have a fiduciary responsibility, but I would expect a professional guardian to. If my nehew doesn't want the responsibility, my backup plan i...
by ddunca1944
Sun Jun 15, 2014 7:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: With no children, who will take care of my finances?
Replies: 53
Views: 5695

Re: Budgets - record expense when incurred or paid?

I consider it spent when I incur the expense. So that's when I enter it. Since I put most expenses on a rewards cc, I want to know the running balance at all times.
by ddunca1944
Sun Jun 15, 2014 4:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Budgets - record expense when incurred or paid?
Replies: 15
Views: 866

Re: Capital Gains challenge - need advice

First post and looking for options to a fortunate challenge I have run into. Selling a rental home which I have owned for three years which has doubled in value. Looks like I will have $200K in gain to keep it simple. Rental home will be listed shortly, therefore not under contract. MFJ 2013 AGI $2...
by ddunca1944
Sun Jun 15, 2014 3:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Capital Gains challenge - need advice
Replies: 5
Views: 475

Re: With no children, who will take care of my finances?

I worry about this as well. I have adult children, but cannot trust them to manage my finances. Retirement accounts don't need managing - RMD's are on auto. Personal finances are pretty simple, mostly on auto. I have a nephew that I am considering asking to be my executor; if he agrees, I might also...
by ddunca1944
Sun Jun 15, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: With no children, who will take care of my finances?
Replies: 53
Views: 5695

Re: As Bogelheads, a comforting thought for everyone....

Indeed. I've been trying to explain that to my spouse. He worried that we weren't saving money. I asked him what, exactly, did he want to save for? We're retired with enough guaranteed income from pensions & SS that we don't have to use our retirement accounts. Which are enough to live on if we ...
by ddunca1944
Wed Jun 11, 2014 7:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: As Bogleheads, a comforting thought for everyone....
Replies: 46
Views: 4786

Re: Poll on Retiree's Health Insurance Plan

I voted Medigap plan but we have a company supplement that goes into a health savings account and can be used for premiums...
by ddunca1944
Wed Jun 11, 2014 2:32 pm
 
Forum: Personal Finance (Not Investing)
Topic: Poll on Retiree's Health Insurance Plan
Replies: 21
Views: 1373

Re: What would "you" do?? [in this case]

bcjb wrote:I would set 10k aside for miscellaneous expenses (or to increase our emergency fund) and perhaps to buy some I bonds.
The other 30k would go into total US stock / total int'l stock funds, as dictated by our asset allocation.


+1
This is what I would do as well.
by ddunca1944
Wed Jun 11, 2014 11:49 am
 
Forum: Investing - Help with Personal Investments
Topic: What would "you" do?? [in this case]
Replies: 50
Views: 3847

Re: Checking account instead of savings account?

I use our credit union's checking because they offer a higher rate of interest (with similar requirements) but only up to $10000. I generally keep about $10K in checking and the rest in savings. Spending it isn't an issue because I use YNAB and base spending decisions on the budgeted amount - not th...
by ddunca1944
Sat May 31, 2014 3:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Checking account instead of savings account?
Replies: 11
Views: 1325

Re: Health Insurance Hell

This gives you the choice of many countries with lower prices. You could therefore import from another country, realizing that would violate US law, or move. If a US citizen needed a particular drug they could not afford, which countries would be their best options to move to, for more affordable d...
by ddunca1944
Fri May 30, 2014 11:01 am
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Hell
Replies: 32
Views: 3993

Effect of Roth conversion/recharacterization on RMD?

This year I converted $20,000 from my T-IRA to my R-IRA. I realize that next year, I'll have to recharacterize a part of that in order to stay within the 15% tax bracket. Next year is the first year that I will have to take my RMD from the T-IRA. So if my T-"IRA balance is say, $500,000 on Dec ...
by ddunca1944
Mon May 26, 2014 3:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Effect of Roth conversion/recharacterization on RMD?
Replies: 4
Views: 330

Re: declining job due to travel

I have not seen this addressed - when your kids are in their teens. That's when your presence and involvement are highly critical. I'd take the job while the kids are in elementary school and plan on little to no travel once they are in middle school....
by ddunca1944
Fri May 23, 2014 11:57 am
 
Forum: Personal Finance (Not Investing)
Topic: declining job due to travel
Replies: 92
Views: 8936

Re: Monthly Budget Comparison

We are a retired couple living north of the OP (in western WA state). Here's our monthly budget: Housing (taxes & insurance) $290 Utilities: (water, elect, propane, tel & internet) = $235 Maintenance: $250 Gas, ferry, parking & auto ins = $485 Food $600 (groceries and take out) Entertain...
by ddunca1944
Wed May 21, 2014 4:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: Monthly Budget Comparison
Replies: 86
Views: 4647

Re: Long Term Care Policy Poll

We are 65 and 70 and have an LTCi policy. Purchased at ages 59 and 63. Wish we'd purchased about 3.4 to 4 years sooner.
by ddunca1944
Sun May 04, 2014 5:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Policy Poll
Replies: 42
Views: 2692

Re: Did you tell anyone you paid off your mortgage?

I shared that information with a couple of friends who had also paid their mortgage off - as in 'Isn't it a great feeling". Also with my sister.
by ddunca1944
Thu May 01, 2014 4:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 158
Views: 12207

Re: How to start tracking finances

I'm a former Quicken user (and MSMoney prior to Quicken). Now I use YNAB (You Need A Budget) to track spending. DH and I use rewards cards for nearly all our spending (I spend very little actual cash). Each card has an account set up in YNAB and I track spending very closely. When I pay the card, it...
by ddunca1944
Sun Apr 20, 2014 1:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: How to start tracking finances
Replies: 25
Views: 2751

Re: A fund to go with VWINX/VWELX

Our IRA accounts are divided between VWIAX and Life Strategy. That accomplishes two objectives:
1) An AA of 50/50
2) Some international exposure.
by ddunca1944
Fri Apr 18, 2014 12:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: A fund to go with VWINX/VWELX
Replies: 5
Views: 649

Re: Proper Money management and itinerary for Europe trip

Invest in a money belt and familiarize yourself with some of the common scams around pickpocketing. Very common in big cities here. Rick Steves books are outstanding in that in they also cover traveling advice on the things like currency conversions, credit cards, phones, etc. etc. Public transport...
by ddunca1944
Mon Apr 14, 2014 6:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Proper Money management and itinerary for Europe trip
Replies: 36
Views: 2423

Re: Proper Money management and itinerary for Europe trip

Disclosure-I've only spent a brief time in Germany But went to Italy in 2012. 3 days in Venice wasn't enough. Don't skip the gondola ride. Do it at night. Yes, it costs more at night, but it was magical. We had 5 days in Rome. Plenty of time for everything on your list and we did a side trip to Osti...
by ddunca1944
Sun Apr 13, 2014 8:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Proper Money management and itinerary for Europe trip
Replies: 36
Views: 2423

Re: You have more than enough invested, now how to protect i

scooter wrote:My plan to use an irrevocable trust was to get below the Mass estate tax and to protect it from nursing home.


What is your plan if you need long term care?
by ddunca1944
Tue Apr 08, 2014 6:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: You have more than enough invested, now how to protect it
Replies: 9
Views: 1591

Re: 180K and no clue

I am sorry about the divorce. I agree with previous posters: while you are invested conservatively, it's not bad at all (we have both Wellesley and Wellington, but we are retired). Also agree that you need to figure out what Asset Allocation you want - that's a very personal decision and no one can ...
by ddunca1944
Tue Apr 08, 2014 2:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: 180K and no clue
Replies: 8
Views: 1709

Re: Best Medicare F Plan in Florida

Once Medicare pays, your Medigap has to pay. Since all the Medigap plans are standardized, benefits are the same. Customer support could vary. In NJ, AARP rate includes 30% discount and every year, the discount is reduced 3% points; thus discount is eliminated over 10 years. There are three types o...
by ddunca1944
Mon Apr 07, 2014 8:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Best Medicare F Plan in Florida
Replies: 3
Views: 208

Re: Expensive hobbies and possessions? (B/c you can...)

I have a top of the line sewing/embroidery machine. It cost nearly $5000 5 years ago. I do a lot of sewing. Embroider my granddaughter's clothes for fun. I have a passion for antique sewing machines and have 14 of them. The oldest dates back to the 1890's. They all still work. Sometimes, for the fun...
by ddunca1944
Mon Mar 31, 2014 9:55 pm
 
Forum: Personal Consumer Issues
Topic: Expensive hobbies and possessions? (B/c you can...)
Replies: 126
Views: 12873

Re: Spouses that struggle with budgets

While my spouse is not a spendthrift, he has different spending priorities than I do. He also has no interest in planning a budget, or dealing with finances. We have a joint account that all money goes into. Out of that, each of us gets a set amount of spending money. That money goes into our own pe...
by ddunca1944
Mon Mar 31, 2014 12:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Spouses that struggle with budgets
Replies: 27
Views: 2420

Re: Buying a house with a partner, not married

A good friend of mine purchased a home with her long term boyfriend. The boyfriend had terrible credit. The friend had great credit. She got the mortgage in her name only. Both their names were put on the deed. They broke up 5 years later. She wanted to sell - he did not. She could not force him to ...
by ddunca1944
Fri Mar 28, 2014 6:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying a house with a partner, not married
Replies: 23
Views: 1520
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