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Re: Help Please: Retirement plan vs. Higher Salary

Thank you everyone for their comments, they have really helped out. One thing I want to make sure people understand is that if I do not take the MPP, they do not offer any other type of retirement fund. Some people seem to think that I can still have a 401k and contribute the max of 17.5k/year. So ...
by jeffyscott
Tue Sep 02, 2014 5:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Retirement plan vs. Higher Salary
Replies: 31
Views: 2185

Re: Cellphone for trip to Ireland

We bought a phone that we had to set up ourselves in Germany for $10 euro last year. But, there was another one I asked about that was 20 euro and was told with that one the difference was the store clerk would set it up. I'd also researched this option, but decided against it (thought it was over p...
by jeffyscott
Mon Sep 01, 2014 6:41 pm
 
Forum: Personal Consumer Issues
Topic: Cellphone for trip to Ireland
Replies: 11
Views: 732

Re: Wifi phone calls vs Ooma

Generally, wifi (i.e. wireless) isn't as fast or reliable as wired. Most people probably run ooma over wires, so it's like asking wireless vs wires, and generally wires win. Ooma (and I assume any VOIP) is better using modem to Ooma to router set up, rather than Ooma being just another connection t...
by jeffyscott
Mon Sep 01, 2014 6:33 pm
 
Forum: Personal Consumer Issues
Topic: Wifi phone calls vs Ooma
Replies: 12
Views: 1239

Re: sell a 7 year old car or keep it?

Should I trade it in now while it's still worth a fair amount... That's not a reason to trade it in, unless perhaps you were interested in trading down to a less pricey, more efficient, new car. For example, if the new car you want would be a $25,000, 4 cylinder or something then it may make sense....
by jeffyscott
Mon Sep 01, 2014 6:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: sell a 7 year old car or keep it?
Replies: 16
Views: 1466

Re: Shorten Mortgage or 401K or something else

You certainly want to be sure that you can save enough to get the maximum match on 401K. The rate advantage for the 15 years sure seems attractive. That would also mean house is paid off before kid is college age. But then, higher mortgage payment with the shorter term mortgage may mean less tax def...
by jeffyscott
Mon Sep 01, 2014 3:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Shorten Mortgage or 401K or something else
Replies: 15
Views: 966

Re: New 2% cash back Mastercard from Citi

It's their "Privileges" card, whatever that means. This is the link to the page that describes the cards that we have, including the 50% bonus: https://www.bankofamerica.com/platinumprivileges/special-pricing/credit-card.go We're in NJ; it's possible that BofA's deals vary by state. I see...
by jeffyscott
Mon Sep 01, 2014 3:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 87
Views: 8702

Re: Help Please: Retirement plan vs. Higher Salary

Ah, with the overtime, etc. the difference is probably close to $2K. Used total income of $160K and $129K, you would then be maxing out SS in both cases so no difference there. Taxcaster gives $35,000 income tax for $160K and $26,600 for $129K, with that I get a difference of about $1900 per month. ...
by jeffyscott
Mon Sep 01, 2014 3:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Retirement plan vs. Higher Salary
Replies: 31
Views: 2185

Re: Help Please: Retirement plan vs. Higher Salary

Rereading this it sounds like the two options are the same job, but you get to choose the compensation package? I'm voting for option 1, I think the tax deferral advantage beats the short term delay in paying off debt. Also basing this on my estimate of the take home difference and assuming the over...
by jeffyscott
Mon Sep 01, 2014 2:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Retirement plan vs. Higher Salary
Replies: 31
Views: 2185

Re: Help Please: Retirement plan vs. Higher Salary

How are you figuring take home pay? Taxcaster says federal income tax for single person with $120K income would be $24,000. Nearly all of that would also be subject to payroll tax of 7.65%, for another $9000. Maybe it is that the loan interest is deductible? Anyway, the total compensation is similar...
by jeffyscott
Mon Sep 01, 2014 1:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help Please: Retirement plan vs. Higher Salary
Replies: 31
Views: 2185

Re: New 2% cash back Mastercard from Citi

The kicker is that if you choose to have your rewards automatically deposited into one of your BofA accounts, they add a 50% bonus. So it's really 4.5%, 3%, and 1.5%. I don't have a B of A account, but I thought the bonus was 10%? This says 10%: https://secure.bankofamerica.com/applynow/welcome.go
by jeffyscott
Mon Sep 01, 2014 12:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 87
Views: 8702

Re: Approx'ing TISM with limited fund options.

Good idea to look at Morningstar Instant X-Ray, though I think your "24% small" means you shifted all the Canada and Korea portion into only small, instead of proportionally. Still, your other two percentages are consistent with the wiki page, so that reinforces those percentages. Yeah, d...
by jeffyscott
Mon Sep 01, 2014 12:31 pm
 
Forum: Investing - Theory, News & General
Topic: Approx'ing TISM with limited fund options.
Replies: 5
Views: 361

Re: New 2% cash back Mastercard from Citi

Yeah, I'm sure that's what it's about. The key word is "may".
by jeffyscott
Sun Aug 31, 2014 5:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 87
Views: 8702

Re: Approx'ing TISM with limited fund options.

I'd play with this: http://portfolio.morningstar.com/RtPort/Free/InstantXRayDEntry.aspx?dt=0.7055475 You can look at holdings to get a starting point: Total international is 1.08% nestle while EAFE is 1.86%, so it would seem 58% EAFE would be what you want, if that is what you want to match. Total i...
by jeffyscott
Sun Aug 31, 2014 12:17 pm
 
Forum: Investing - Theory, News & General
Topic: Approx'ing TISM with limited fund options.
Replies: 5
Views: 361

Re: PPO for one spouse, High deductible plan for other spous

Can not do that anyway http://www.irs.gov/publications/p969/ar02.html#en_US_2013_publink1000204025 To be an eligible individual and qualify for an HSA, you must meet the following requirements. You must be covered under a high deductible health plan (HDHP), described later, on the first day of the m...
by jeffyscott
Sun Aug 31, 2014 11:38 am
 
Forum: Personal Consumer Issues
Topic: PPO for one spouse, High deductible plan for other spouse?
Replies: 3
Views: 272

Re: New 2% cash back Mastercard from Citi

No foreign transaction fees is a plus for the Arrival card, but there are plenty of cards that don't charge foreign transaction fees, and the Arrival has an $89 annual fee. This card has no annual fee, so the breakeven is >$40,000 in annual spending. And I prefer straight cash back vs cash I have t...
by jeffyscott
Sat Aug 30, 2014 3:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: New 2% cash back Mastercard from Citi
Replies: 87
Views: 8702

Re: HEALTH INSURANCE

Kaufmanrider wrote:What is your annual catastrophic limit.


Muhtar,
This may be called the "maximum out of pocket" (MOOP) in your plan.

My employer is offering a HDHP with HSA, it's $3000 deductible, then we would pay 10% until MOOP of $5000 is reached. Coverage is 100% after reaching the MOOP.
by jeffyscott
Sun Aug 24, 2014 9:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Health Insurance
Replies: 6
Views: 925

Re: ACA INSURANCE and subsidies

My son had a mid year income change, going from about $20K per year to $25K, so I had sent him this article:

http://health.usnews.com/health-news/he ... -subsidies
by jeffyscott
Sun Aug 24, 2014 9:42 am
 
Forum: Personal Finance (Not Investing)
Topic: ACA Insurance and subsidies
Replies: 2
Views: 629

Re: Kitces - Think Twice about those Conversions

Besides, I don't think taxing money in a Roth a second time would hold up under the tax code (of course, judges may fall in line with the pols, I suppose, regardless of legal prinicples). I don't think there will ever even be any proposal to tax Roth withdrawals as income and if they did it would p...
by jeffyscott
Sun Aug 24, 2014 9:29 am
 
Forum: Investing - Theory, News & General
Topic: Kitces - Think Twice about those Conversions
Replies: 15
Views: 2940

Re: Kitces - Think Twice about those Conversions

I read this yesterday as well. I think his point is valid - IF you are converting because you think the tax code will change. However, in the category of "first world problems", I intend to do conversions after we retire before SS starts because when I hit age age 70 we will have income f...
by jeffyscott
Sun Aug 24, 2014 9:16 am
 
Forum: Investing - Theory, News & General
Topic: Kitces - Think Twice about those Conversions
Replies: 15
Views: 2940

Re: Shiller P/E nearly guaranteed to be lower in 5 years

Why? Well, the gigantic earnings slump of the financial crisis will be in the rearview, and the denominator in the equation will be considerably higher as a result. In 5 years, we could well be saying that the market is an obvious buy at prevailing prices simply due to this factor. I don't think so...
by jeffyscott
Sat Aug 23, 2014 9:47 am
 
Forum: Investing - Theory, News & General
Topic: Shiller P/E nearly guaranteed to be lower in 5 years
Replies: 19
Views: 3317

Re: portfolio turnover

pkcrafter wrote:Similar bond funds have over 200% turnover, Fidelity and PIMCO to name two.


and some have lower turnover, Dodge and Cox income (DODIX) 38%.
by jeffyscott
Sat Aug 23, 2014 9:16 am
 
Forum: Investing - Theory, News & General
Topic: portfolio turnover
Replies: 9
Views: 939

Re: John Hussman, smart guy, should you listen to his foreca

I stopped reading him some years ago. The problem with Hussman is he continually cooked up new reasons not to buy stocks. For example March 9, 2009 (I think that was the very day of the low :?: ), he wrote: As for the stock market as a whole, I continue to view the market as undervalued, but not dee...
by jeffyscott
Wed Aug 20, 2014 9:37 am
 
Forum: Investing - Theory, News & General
Topic: John Hussman, smart guy, should you listen to his forecasts
Replies: 38
Views: 3864

Re: Defined Benefit Plan Costs?

A major issue for those in *some* state and local pension schemes is how this is all going to be paid for. Politics and accounting follies have combined to produce situations which local ratepayers and taxpayers will *not* bear going into the future-- half of their taxes, say, going on pension cost...
by jeffyscott
Wed Aug 20, 2014 9:00 am
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan Costs?
Replies: 36
Views: 1816

Re: Defined Benefit Plan Costs?

Yes but it's possible to get a feel of norms. Which are about 15% of pensionable salary (gross, employer + employee contribution) for a 1.67% pa accrual retire after 35 years scheme. Add in full CPI indexing or a higher accrual rate and you are talking 20, 25%. It's only an approximation, but it's ...
by jeffyscott
Wed Aug 20, 2014 8:39 am
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan Costs?
Replies: 36
Views: 1816

Re: Defined Benefit Plan Costs?

A DB pension with a more normal multiplier is something like at least 10-15% of payroll. If this pension really has a 3% multiplier, then the cost would be much higher as the payout would be 50-100% higher than is typical. The old Federal CSRS, with about a 2% multiplier costs 26% of payroll. FERS w...
by jeffyscott
Mon Aug 18, 2014 5:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan Costs?
Replies: 36
Views: 1816

Re: Defined Benefit Plan Costs?

Well, mine currently costs 14% of salary. The benefit is only about 1/2 of yours, 1.6% per year of service. *That* is much more normal. So after 35 years, you retire at 56% of final salary? Public sector? Is the 14% yours, the employer's or a mix? Employees pay 1/2 the 14%. The cost had been lower ...
by jeffyscott
Mon Aug 18, 2014 1:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan Costs?
Replies: 36
Views: 1816

Re: POLL: Uninsured/Underinsured Motorists Coverage?

What difference would it have been without UM/UIM coverage? My question, was supposed to be: Even if the responsible party had no insurance, what difference would UM/UIM make to those who have medical and collision coverage. Your items 1 and 2 are about which insurance company pays. While I agree t...
by jeffyscott
Mon Aug 18, 2014 1:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Uninsured/Underinsured Motorists Coverage?
Replies: 17
Views: 1032

Re: POLL: Uninsured/Underinsured Motorists Coverage?

My wife was involved with a serious accident in 2009 at which an inattentive driver crashed into her at high speed, near a stop light, from the rear resulting in her car being destroyed and the 3 cars in front of my wife damaged. The total damages totaled over $500K. The at-fault driver was well co...
by jeffyscott
Mon Aug 18, 2014 10:02 am
 
Forum: Personal Finance (Not Investing)
Topic: POLL: Uninsured/Underinsured Motorists Coverage?
Replies: 17
Views: 1032

Re: Response to Shiller's "lofty" CAPE - where should it be?

If you are going to project an expected value for an investment in the S&P over the next ten years, simply inverting the CAPE and multiplying by 10 is a very good place to start. So 10 X 1/25 = 0.40, and I should expect the value to be 40% of my investment for a 60% loss? I assume he meant to s...
by jeffyscott
Mon Aug 18, 2014 9:56 am
 
Forum: Investing - Theory, News & General
Topic: Response to Shiller's "lofty" CAPE - where should it be?
Replies: 3
Views: 827

Re: Defined Benefit Plan Costs?

Well, mine currently costs 14% of salary. The benefit is only about 1/2 of yours, 1.6% per year of service.
by jeffyscott
Mon Aug 18, 2014 8:56 am
 
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan Costs?
Replies: 36
Views: 1816

Re: Europe travel: best card for ATM cash

LeeMKE wrote:(I don't carry a debit card with access to our bank accounts.)


Why not get one, so that you are not paying credit card interest on cash advances?

You may still have ATM fees, though, depending on your bank and the ATM.
by jeffyscott
Sat Aug 16, 2014 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Europe travel: best card for ATM cash
Replies: 33
Views: 1960

Re: Market valuation analysis

At NO time, NEVER, did the value of VTSAX drop below where it was in 1997, so buying stocks when PE10 was near 30 (let alone holding stocks that you bought years before even cheaper) doesn't seem like a terrible decision... You never got a chance to buy back in cheaper. You assume that the alternat...
by jeffyscott
Sat Aug 16, 2014 2:56 pm
 
Forum: Investing - Theory, News & General
Topic: Market valuation analysis
Replies: 36
Views: 1708

Re: Market valuation analysis

This all tells me that within a reasonable range of assumptions, stocks are priced at least as well as we would expect and may be slightly cheap, mostly due to low interest rates and strong recent earnings. Or maybe stock prices are high but bond prices are higher. I'm a little conflicted on using ...
by jeffyscott
Fri Aug 15, 2014 9:05 am
 
Forum: Investing - Theory, News & General
Topic: Market valuation analysis
Replies: 36
Views: 1708

Re: Debit VS Credit Cards Security

Watty wrote:There is really no upside to having a debit card...


Unless you shop at Aldi or Woodman's.
by jeffyscott
Fri Aug 15, 2014 8:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Debit VS Credit Cards Security
Replies: 19
Views: 1505

Re: Debit VS Credit Cards Security

Since in the US there are no merchants accepting Chip&Pin (at least not that I am aware of), your card having an Embedded Chip while you're shopping is of no use, it's there as a forward compatibility thing e.g. if you want to travel to Europe and prefer to use safer Chip&Pin while abroad, ...
by jeffyscott
Fri Aug 15, 2014 8:46 am
 
Forum: Personal Finance (Not Investing)
Topic: Debit VS Credit Cards Security
Replies: 19
Views: 1505

Re: Job Change for Someone Using an ACA Subsidy

Will she also have to pay back some of the subsidy when she does her taxes? The subsidy had been based on projected income of $17,000 but her income for the year will now be more like $25,000. I have a son is similar circumstances, had made maybe $18,000 last year and just started a $25,000 job. How...
by jeffyscott
Thu Aug 14, 2014 9:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Job Change for Someone Using an ACA Subsidy
Replies: 3
Views: 453

Re: Question re- EE Bonds

To get current values - http://www.treasurydirect.gov/BC/SBCPrice To get rates for various issue dates - http://www.treasurydirect.gov/indiv/research/indepth/ebonds/res_e_bonds_eeratesandterms.htm Be aware that some EE Bonds had nice guaranteed minimum rates after the initial maturity (like 4%), so...
by jeffyscott
Sun Aug 10, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Question re- EE Bonds
Replies: 18
Views: 1633

Re: Replacing my Central Heat and A/C system................

I haven't seen any data on reliability, intuitively a more complex system is less reliable. Also higher efficiency tends to mean thinner heat exchanger and I would think thinner would (all else being equal) not last as long. According to this furnaces can actually get as high as 98.5% efficiency: h...
by jeffyscott
Mon Aug 04, 2014 6:15 pm
 
Forum: Personal Consumer Issues
Topic: Replacing my Central Heat and A/C system..................
Replies: 16
Views: 1725

Re: What counts as "income" for PPACA subsidies?

Found this site: http://www.healthinsurance.org/quotes/eligible_for_subsidy.php seems that depending on the state you retire in, or live in currently ? your tax credit vs income dollar amount changes. you can see the sliding scale in this link. Plug in your state, amount of income, and the plan cos...
by jeffyscott
Mon Aug 04, 2014 5:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: What counts as "income" for PPACA subsidies?
Replies: 143
Views: 24513

Re: Arnott's/RAFI 10 year 'expected' returns

Everything I said above is all very well and good, but is that sort of middle-of-the-road approach practicable or even actionable? In my humble opinion, it absolutely is. I myself decided to get out of small cap stocks (VTMSX) completely in my passive core portfolio about two weeks ago due to what ...
by jeffyscott
Sun Aug 03, 2014 6:24 pm
 
Forum: Investing - Theory, News & General
Topic: Arnott's/RAFI 10 year 'expected' returns
Replies: 78
Views: 4703

Re: Replacing my Central Heat and A/C system................

Depending on the quality of the HVAC system, it may last another 10 years (I've got a 25 year old HVAC system in a rental that is still going strong). Good to know, ours is 17/18 years old. We have had a few repairs in the past and willing to pay for more of that to keep them going, rather than pay...
by jeffyscott
Sun Aug 03, 2014 5:37 pm
 
Forum: Personal Consumer Issues
Topic: Replacing my Central Heat and A/C system..................
Replies: 16
Views: 1725

Re: Inexpensive paper check replacement?

FWIW, another that will give you free paper checks is Schwab.
by jeffyscott
Sun Aug 03, 2014 5:11 pm
 
Forum: Personal Finance (Not Investing)
Topic: Inexpensive paper check replacement?
Replies: 19
Views: 1559

Re: planning to travel a lot soon...how to build up points?

slickdeals.net: Chase United MileagePlus Explorer Credit Card: Spend $2000 in First 3-Months and Earn 50,000 Bonus Miles With the 5000 mile bonus for adding authorized user, 55,000 total. Then chase sapphire will give, I believe 40,000 transferable to United for a total of 95,000. Then spouse can d...
by jeffyscott
Sun Aug 03, 2014 11:50 am
 
Forum: Personal Finance (Not Investing)
Topic: planning to travel a lot soon...how to build up points?
Replies: 14
Views: 1206

Re: Should I close this credit card with Annual fee

I think one should do what makes financial sense, live your life, and let the credit score fall where it may. I am quite annoyed at the credit bureaus' triumph in taking the lemon of required disclosure into lemonade, and turning it into lemonade. They seem to have convinced a generation that their...
by jeffyscott
Sun Aug 03, 2014 11:34 am
 
Forum: Personal Finance (Not Investing)
Topic: Should I close this credit card with Annual fee
Replies: 20
Views: 1982

Re: Time to buy a tv or wait 2 years?

Nice graph, but I don't think it's all that accurate. I sit about 25ft from my 106" projection screen and I can very easily tell the difference between 480p and 1080p. The chart indicates that you should be able to tell the difference between 480 and 1080. Specifically it says there would be a...
by jeffyscott
Wed Jul 09, 2014 10:06 am
 
Forum: Personal Consumer Issues
Topic: Time to buy a tv or wait 2 years?
Replies: 66
Views: 5884

Re: Time to buy a tv or wait 2 years?

Well, OLED is $4300, not $7K, today at Best Buy or amazon. Get rid of the curved screen and drop another $1500 and I may buy.
by jeffyscott
Sat Jul 05, 2014 3:26 pm
 
Forum: Personal Consumer Issues
Topic: Time to buy a tv or wait 2 years?
Replies: 66
Views: 5884

Re: Time to buy a tv or wait 2 years?

OLED (organic led) screens are by far the best displays currently available - blackest black, fastest response, best color gamut but a 55" TV is currently $4999. I expect the prices will come out of the stratosphere quite quickly. I hope you are right, my fear is OLED is not going to catch on ...
by jeffyscott
Fri Jul 04, 2014 10:23 am
 
Forum: Personal Consumer Issues
Topic: Time to buy a tv or wait 2 years?
Replies: 66
Views: 5884

Re: Continue subscribing to local newspaper?

Dropped ours last fall. I am able to read the few things I want online, despite the 10 article per month limit, partly this is due to using several devices and different browsers but I can also delete the cookies or prevent them from being stored one way or another, if need be. We were paying just f...
by jeffyscott
Fri Jul 04, 2014 10:07 am
 
Forum: Personal Consumer Issues
Topic: Continue subscribing to local newspaper?
Replies: 86
Views: 6389

Re: I am thinking of buying Ooma or Magicjack need help deci

I've been curious about these for a while. Do I need one of these if I have a smartphone? I'm currently using only the cellphone for my telephone calls and do not have a landline phone. I'm not sure what I would gain with one of these services? If you don't already have a land line, you don't need ...
by jeffyscott
Fri Jul 04, 2014 9:44 am
 
Forum: Personal Consumer Issues
Topic: I am thinking of buying Ooma or Magicjack need help deciding
Replies: 52
Views: 3222

Re: Paperless Statements (bank checking acct)

I would love to switch everything to electronic. Here's my dilemma. What happens if I can't take care of things? How does my husband figure out what bills to pay if they are sending the bill via email and I'm unable to open and read my email? I'm consolidating accounts so at least he would be able ...
by jeffyscott
Tue Jul 01, 2014 9:04 am
 
Forum: Personal Finance (Not Investing)
Topic: Paperless Statements (bank checking acct)
Replies: 64
Views: 3124
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