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Re: Asset protection in Nevada

Check the homestead property rules. In Florida, creditors can't take your homestead.
by mathwhiz
Thu Dec 18, 2014 7:23 pm
 
Forum: Personal Finance (Not Investing)
Topic: Asset protection in Nevada
Replies: 16
Views: 1608

Re: windfall incoming.clarify the 101 plz (noob bashing wooo

1) yes it is. I love love love california. But I ultimately left. 13%, other laws that impact my quality of life, left me no choice. If it was the most expensive state in the US by 3-5% plus I had other rights I care about, I'll be honest I'd live in California. Other people have said to me " ...
by mathwhiz
Sun Dec 14, 2014 12:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: windfall incoming.clarify the 101 plz (noob bashing wooo!)
Replies: 70
Views: 9793

Re: windfall incoming.clarify the 101 plz (noob bashing wooo

Some thoughts. 1) Moving to California is stupid from a tax standpoint. Consider a no income tax state such as Florida where you could claim residency. This doesn't mean you have to spend all your time in Florida. You could live in Florida half the year to maintain residency and California the other...
by mathwhiz
Sat Dec 13, 2014 9:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: windfall incoming.clarify the 101 plz (noob bashing wooo!)
Replies: 70
Views: 9793

Re: Florida Keys Vacation Rental

You'll find much better value in Cancun or Playa Del Carmen at an all inclusive.
by mathwhiz
Sat Dec 13, 2014 5:08 pm
 
Forum: Personal Consumer Issues
Topic: Florida Keys Vacation Rental
Replies: 24
Views: 2231

Re: At what age did you find dream job?

You need to add an option: Haven't found it yet.

Not everyone is so fortunate to work in their ideal job. Most people just get by.
by mathwhiz
Sat Dec 13, 2014 12:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: At what age did you find dream job?
Replies: 32
Views: 2698

Re: Early Retirement

2.0% is about the dividend rate of the S&P 500. 75%/25% seems fine in a 2.0% withdrawl situation. You just live on the dividends/interest and adjust your expenses accordingly around that income.
by mathwhiz
Wed Dec 10, 2014 5:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: Early Retirement
Replies: 19
Views: 3392

Re: "Why Retirement at 65 is a Fairy Tale"

Why do you believe this? Personally I don't. For one retirement maybe a third of my life so forget just sitting there. If I only go on one cruise a year I will be very disappointed. Second, SS isn't going to cover LTC and I have seen Medicaid facilities and not interested in occupying one. Most peo...
by mathwhiz
Wed Dec 10, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Why Retirement at 65 is a Fairy Tale"
Replies: 117
Views: 11550

Re: Planning for Early Retirement/Buyout Late 40's/50's

Thank you for the link. There are many variables to consider. With ACA, losing retirement health benefits would not be as catastrophic. We'd probably need to manipulate our income lower to maximize subsidies.
by mathwhiz
Wed Dec 10, 2014 3:54 pm
 
Forum: Investing - Theory, News & General
Topic: Planning for Early Retirement/Buyout Late 40's/50's
Replies: 2
Views: 492

Re: "Why Retirement at 65 is a Fairy Tale"

Paid for house in a low cost of living area. Limit your retirement activities to internet surfing, watching TV, reading, other low cost or free hobbies.......can easily be done on modest retirement income.
by mathwhiz
Wed Dec 10, 2014 3:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Why Retirement at 65 is a Fairy Tale"
Replies: 117
Views: 11550

Planning for Early Retirement/Buyout Late 40's/50's

My organization does not have a history of layoffs but they do like to get rid of older, more expensive employees with buyout offers and voluntary early retirement. Some of the perks typically offered include severance of up to one year's salary, an immediate annuity from your pension (1.25% per yea...
by mathwhiz
Wed Dec 10, 2014 9:51 am
 
Forum: Investing - Theory, News & General
Topic: Planning for Early Retirement/Buyout Late 40's/50's
Replies: 2
Views: 492

Re: High(ish) earner; spending too much?

I think his spending and saving levels are fine. Most people would love to save 30% of their income. People here often times forget not everyone lives till retirement. Cancer does happen. Accidents do happen. People do die in their prime or become disabled. He loves to travel. Then he should travel ...
by mathwhiz
Sun Dec 07, 2014 9:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: High(ish) earner; spending too much?
Replies: 71
Views: 8515

Re: GEHA - Standard vs. HDHP Options with Baby on the Way

GEHA contracts with different networks in each state. Some states use Coventry's First Health, others use United Health Care or Aetna. I was on GEHA in the past with my wife and had a negative experience with an ER visit. The hospital was in-network but the ER doctor was not. GEHA paid out of networ...
by mathwhiz
Fri Nov 21, 2014 9:43 am
 
Forum: Personal Finance (Not Investing)
Topic: GEHA - Standard vs. HDHP Options with Baby on the Way
Replies: 36
Views: 2754

Re: Advantages of HSA?

Most HSA's are paired with a high deductible health care plan. They work best for the type of person that rarely goes to the doctor and has no maintenance drugs. If you have any chronic conditions or need maintenance prescriptions they aren't such a great deal most of the time. Of course, it's a gam...
by mathwhiz
Sat Nov 15, 2014 5:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Advantages of HSA?
Replies: 13
Views: 1227

Re: Startegy to sell a single stock that is huge% of portfol

Remember there is a surcharge on long term capital gains if they result in your AGI being over $200,000 single and $250,000 married. Also, you could run into alternative minimum tax problems depending on AGI. So depending on your income level that $180k you could liquidate it all and not run into ex...
by mathwhiz
Sat Nov 08, 2014 7:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Startegy to sell a single stock that is huge% of portfolio
Replies: 9
Views: 1368

New House Built on a Wrong Lot

http://www.news-journalonline.com/article/20141013/news/141019750 Six months after building a large custom house with an ocean view, Missouri residents Mark and Brenda Voss learned of a big problem – it's on the wrong lot. Enlarge | This 5,300-square-foot house along Ocean Ridge Boulevard North in t...
by mathwhiz
Fri Oct 17, 2014 12:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: New House Built on a Wrong Lot
Replies: 9
Views: 1792

Re: Hyundai vs. Toyota

The latest 2015 Hyundai Sonata is a complete redesign. I'd be wary on buying any new car in the first model year while they work out the bugs. For what it's worth, I bought a new 2011 Hyundai Sonata in the first year of the last redesign and while I initially loved the car some worrisome issues have...
by mathwhiz
Sun Oct 05, 2014 3:17 pm
 
Forum: Personal Consumer Issues
Topic: Hyundai vs. Toyota
Replies: 45
Views: 5192

Re: Paying off a 6.5% mortgage

We tried. The consensus from people in the know was to stop making payments and appear distressed. The lender has no real incentive otherwise to do anything. I'm sure we could have played chicken with the lender to see if we could negotiate something but that didn't seem worth wrecking our credit fo...
by mathwhiz
Sat Oct 04, 2014 10:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 4106

Re: Paying off a 6.5% mortgage

Are you a time traveler who just appeared in 2014 and missed out the past 5 years? Why didn't you consider refinancing over the years with interest rates at less than half of 6.5% ? It would have been a no brainer if our mortgage was covered under HARP. But it had to be owned by Freddie or Fannie. ...
by mathwhiz
Sat Oct 04, 2014 10:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 4106

Re: Paying off a 6.5% mortgage

Yeah, but how to you quantify the opportunity costs in 7 years? Let's say I lump sum 190,000 in a balanced 60/40 boglehead portfolio. I've seen many forecasts of expected bond returns in the next ten years of sub 2%. And who knows what equity returns will be in 7 years? But at today's valuations I'd...
by mathwhiz
Sat Oct 04, 2014 7:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 4106

Re: Paying off a 6.5% mortgage

The loss in home equity from when you purchased this house is there whether or not you sink $50K into the house. Your argument about being out $50K to refinance vs. but your assumption that this isn't the case if you pay off the mortgage in full makes no sense to me. I like this because of the simp...
by mathwhiz
Sat Oct 04, 2014 6:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 4106

Re: Paying off a 6.5% mortgage

So why not pay $50k for the privilege now? Get a 4% loan and then dollar cost average the rest. Yeah but then I'll still have a mortgage, and be out $50k. Doesn't help significantly with cash flow. Also, am I really saving much? Mortage interest amortization would reset and I'd be paying down littl...
by mathwhiz
Sat Oct 04, 2014 4:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 4106

Re: Paying off a 6.5% mortgage

House was purchased in 2007 and is underwater. We looked into refi and it wouldn't have been possible without paying $50,000 for the privilege along with all the nuisance appraisal and other fees. Our credit union owned the mortgage and didn't participate in the government refi programs for underwat...
by mathwhiz
Sat Oct 04, 2014 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 4106

Paying off a 6.5% mortgage

I have lots of cash sitting in money market with no place to go. Initially, we were considering a move to a different location so needed the money safe and liquid. Circumstances have changed and now will remain in current home and area for a minimum of 5-7 years and most likely longer. I'm not comfo...
by mathwhiz
Sat Oct 04, 2014 3:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: Paying off a 6.5% mortgage
Replies: 46
Views: 4106

Re: Any success stories of ppl who never made >$50,000?

I think this is completely dependent on where you live and the cost of living involved. If you making that kind of money in most rural areas or small towns in the south or midwest where homes can cost $100k or below and the median household income is $30k, you are doing well for yourself. In a place...
by mathwhiz
Wed Sep 17, 2014 9:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Any success stories of ppl who never made >$50,000?
Replies: 149
Views: 10415

Re: Retiring at 25? Help with allocation

@mathwiz, If I plan to live solely off the interest within 2-3 years already, wouldn't it be wise to have a good portion in bonds? If the market goes down like in 2008 and I'm retired already, it'd be very hard for me to come up with another $3 million... Even though I'm young, I'm still 2 years aw...
by mathwhiz
Wed Jun 25, 2014 8:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retiring at 25? Help with allocation
Replies: 9
Views: 2916

Re: Retiring at 25? Help with allocation

You are so very young that I don't think a withdrawl rate greater than 2% makes much sense. If you have $3 million, I'd stay aggressive 80/20 or 90/10 equities and learn to live off of the dividends and interest alone which should yield approximately $60k-$80k a year.
by mathwhiz
Wed Jun 25, 2014 6:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retiring at 25? Help with allocation
Replies: 9
Views: 2916

Fidelity Spartan Global ex-US Fund Dividends

The Fidelity Spartan Global ex-US fund ( FSGDX ) has a yield significantly lower than the comparable fund from Vanguard (VFWAX / VEU). It's 1.47% vs. 3.09%. Is this because the Fidelity fund is new and has been rapidly growing assets from $80 million two years ago to over $400 million now? I'm guess...
by mathwhiz
Wed Jun 25, 2014 4:42 pm
 
Forum: Investing - Theory, News & General
Topic: Fidelity Spartan Global ex-US Fund Dividends
Replies: 1
Views: 367

Re: How much $$ to change jobs?

I think moving to the private sector would be a mistake in your situation. Why leave a low stress cushy job where you are more likely to drop dead on the job than be fired? This is actually a true statistic. The number of employees who die each year while in a federal government job is greater than ...
by mathwhiz
Fri Jun 20, 2014 7:59 am
 
Forum: Personal Finance (Not Investing)
Topic: How much $$ to change jobs?
Replies: 52
Views: 4363

Re: Frustration with medical providers

I hope you your state protects your homestead and assets in tax sheltered accounts from judgments. Likewise, I hope you have very little assets or money in taxable accounts. It will make the eventual bankruptcy filing when you get that heart attack and $1 million + hospital bill for weeks in hospita...
by mathwhiz
Fri Jun 13, 2014 4:08 pm
 
Forum: Personal Consumer Issues
Topic: Frustration with medical providers
Replies: 24
Views: 1779

Re: Pre-nup at only $1M networth, do I need it?

Depending on your state laws, the assets in your name prior to marriage should remain yours after divorce. Just don't comingle funds then all bets are off. Keep the assets completely separate. Capital gains, dividends, and interest during marriage may be vulnerable in a divorce. Also, don't expect a...
by mathwhiz
Mon May 26, 2014 4:40 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pre-nup at only $1M networth, do I need it?
Replies: 199
Views: 13176

Re: Husband just lost job

You may have to plan for the worst case scenario if your husband does not regain his employment. NY is a high cost of living state and you probably have substantial equity in your home since NY housing prices are much higher than the national average. You should start investigating employment opport...
by mathwhiz
Sat May 24, 2014 4:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Husband just lost job
Replies: 60
Views: 6821

Re: How much is rich?

Rich to me is freedom from having to work. Not having to work means you are able to generate enough income off of your investments to live comfortably. This number is different for people at different stages of their lives. So, I'd say rich start at about $2 million. At a 2% withdraw rate for a very...
by mathwhiz
Sun Apr 13, 2014 10:00 am
 
Forum: Personal Finance (Not Investing)
Topic: How much is rich?
Replies: 47
Views: 2849

Re: A story, and a feeling of financial under-accomplishment

A year break may be a good idea. Plus it would give me time to save up the cash to pay for the degree outright. I still live with my mom, so despite having a takehome pay of 2 grand per month post-everything (my pension costs 4.5%, health, life, and dental insurance is free), I live on basically 80...
by mathwhiz
Fri Apr 11, 2014 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 10025

Re: A story, and a feeling of financial under-accomplishment

Your story is a lot more common than you think, especially for your age group 18-29 coming of age in the great recession. It could be worse. You could have graduated with your bachelor's in 2008 with $100k in debt, living with your folks and making $10k a year in menial jobs. Or worse, going to grad...
by mathwhiz
Fri Apr 11, 2014 10:03 am
 
Forum: Personal Finance (Not Investing)
Topic: A story, and a feeling of financial under-accomplishment
Replies: 48
Views: 10025

Extreme ways to avoid college loan debt

I thought this article was interesting. The most interesting one to me was getting married before college as automatic emancipation as far as financial aid is concerned. I'm sure this would be considered extreme, but in the right situation it could work. If there are 2 kids in a relationship where t...
by mathwhiz
Fri Apr 04, 2014 1:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Extreme ways to avoid college loan debt
Replies: 8
Views: 666

Re: Laid Off at 53.5...need better allocation...how to get t

Yes, absolutely dial it down to 60% equities tomorrow. This is a no brainer and you are lucky to be laid off now when the market is at record highs then in 2009 when the market was 60% lower. The bull market is over 4 years old and chances of a substantial correction are high. Not a big deal to some...
by mathwhiz
Wed Apr 02, 2014 9:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Laid Off at 53.5...need better allocation...how to get there
Replies: 22
Views: 2513

Re: New Friends are the Anti-Bogleheads, what to do?

They could be heavily in debt, but on the other hand maybe one of them was a trust fund baby worth $10 million? In other words, you can't really know what their finances are like. It's not really any of your business unless they ask you for advice or start bumming you up for money.
by mathwhiz
Sun Mar 30, 2014 1:05 am
 
Forum: Personal Finance (Not Investing)
Topic: New Friends are the Anti-Bogleheads, what to do?
Replies: 93
Views: 9166

Re: Frugal Fatigue

Eating out is over rated. It's also my experience the more you eat out, the more obese you get. It's much easier to over eat and the portions and nutritional value at most restaurants have a lot to be desired.
by mathwhiz
Sat Mar 29, 2014 12:09 pm
 
Forum: Personal Consumer Issues
Topic: Frugal Fatigue
Replies: 96
Views: 11451

Re: Fixing Excess Roth contribution then converting back

Yes, the contribution was specified as 2014 when I made it. I only have the Roth IRA account currently. I'll have to open a traditional IRA first to re characterize. I have a 401k at work so had no need for a traditional IRA outside work. I think the plan going forward would be to covert immediately...
by mathwhiz
Fri Mar 28, 2014 11:53 am
 
Forum: Investing - Help with Personal Investments
Topic: Fixing Excess Roth contribution then converting back
Replies: 4
Views: 208

Fixing Excess Roth contribution then converting back

I made a $5500 contribution to my personal Roth IRA at Fidelity in the beginning of January thinking our household income would be below the $181k. Well, there's a very high probability we will be getting income later this year that will cause us to be well above this limit. So, if I understand corr...
by mathwhiz
Fri Mar 28, 2014 10:26 am
 
Forum: Investing - Help with Personal Investments
Topic: Fixing Excess Roth contribution then converting back
Replies: 4
Views: 208

Re: Children: Are they worth every penny?

The thing is most families have "issues." It's not all It's a Wonderful Life. I hate to be a downer but my family and my wife's family have its fair share of drug addiction, teenage pregnancies, underachievers, lazy/dumb/stupid people. I have to think the more kids, the less personal atten...
by mathwhiz
Wed Mar 19, 2014 1:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: Children: Are they worth every penny?
Replies: 68
Views: 5177

Re: Replace less than 80% of income in retirement?

Despite the common wisdom, expenses in retirement can well exceed pre-retirement income. The culprit is usually health care expenses not covered by Medicare/Medigap. Long-term care (either in-home or in a facility), assisted living, or just multiple Medicare/Medigap deductibles for "frequent f...
by mathwhiz
Thu Mar 06, 2014 10:57 pm
 
Forum: Investing - Theory, News & General
Topic: Replace less than 80% of income in retirement?
Replies: 52
Views: 3456

Re: Replace less than 80% of income in retirement?

You make do. There are tens of millions of folks living on social security alone with incomes less than $20,000 a year. So, yeah you'll probably be fine replacing 50-60% of your income. You'll have to just adjust your spending and probably not be taking exotic trips all over the world each year.
by mathwhiz
Thu Mar 06, 2014 9:04 am
 
Forum: Investing - Theory, News & General
Topic: Replace less than 80% of income in retirement?
Replies: 52
Views: 3456

Re: Young, rich, hopefully not dumb

My guess is you got lucky in a Silicon Valley startup? I can't think of any other industry outside of music/entertainment where someone your age can make that kind of bank. Get residency in a state with no state income tax ASAP. 10% of your income thrown away each year on taxes at your income level ...
by mathwhiz
Fri Feb 28, 2014 2:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Young, rich, hopefully not dumb
Replies: 51
Views: 6948

Re: Leaving a small amount of student debt for child to pay

I think you should let your kid make the choice. Agree to pay 100% of a community college or 4 year public state education. If they choose to go to a private school, they are on the hook for that. Likewise, they are on the hook for grad school and/or med/business/law schools.
by mathwhiz
Fri Feb 21, 2014 6:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leaving a small amount of student debt for child to pay off?
Replies: 45
Views: 2924

Re: Fidelity Amex - statement charges

The $100 charge for the gas stations is very common. Apparently, that is the limit at the pump. The pump basically verifies that your credit limit is at least $100. Then you pump your gas and the charge changes to the correct charge when it posts. I've also seen weird names that change when a card p...
by mathwhiz
Wed Feb 19, 2014 1:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: Fidelity Amex - statement charges
Replies: 7
Views: 472

Re: taxes done and…why is my spouse working?

OF course, I am also a tax professional, so I have always been well aware we save a bajillion dollars in taxes. Which is why the lifestyle creep comes off as so ridiculous to me. You may have a larger income, but is it really that much larger after you pay your taxes and working expenses? In the ca...
by mathwhiz
Sun Feb 16, 2014 4:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: taxes done and…why is my spouse working?
Replies: 90
Views: 9242

Re: Help! Young, too much money, and seriously lost...

Agreed, holding a large taxable account without maxing out your 401k is madness. :oops: Contribute the full $17,500 every year, as long as you still have a taxable account, even if you have to sell from the taxable account to make up living expenses. (Obviously, be careful not to let that be an exc...
by mathwhiz
Sat Feb 15, 2014 4:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help! Young, too much money, and seriously lost...
Replies: 22
Views: 3135

Re: Raising kids in a small town vs. big city/suburbs

I grew up in an extremely rural area and was socially handicapped. By that I mean I was extremely unsophisticated compared to my classmates when I hit college. It literally took years for me to catch up socially, although I did fine academically. (Stop assuming the worst about people and their moti...
by mathwhiz
Tue Feb 11, 2014 8:05 pm
 
Forum: Personal Consumer Issues
Topic: Raising kids in a small town vs. big city/suburbs
Replies: 89
Views: 6297

Re: A $1000 lesson on how manipulative salespeople can be?

Donate the art and take a tax deduction. If the art is worth $5000, you'll get your $1000 back in a tax write off.
by mathwhiz
Sun Feb 09, 2014 12:56 pm
 
Forum: Personal Consumer Issues
Topic: A $1000 lesson on how manipulative salespeople can be?
Replies: 107
Views: 17555
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