Search found 360 matches

by sesq
Thu Jul 30, 2015 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce [financial implications]
Replies: 72
Views: 6749

Re: Divorce [financial implications]

Twins Fan wrote:Really? It's interesting how different this stuff can be state to state.


There are people who move to jurisdiction shop the alimony rules. Establish residency (six month to a year), then drop the bomb.
by sesq
Tue Jul 28, 2015 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Divorce [financial implications]
Replies: 72
Views: 6749

Re: Divorce

I am not a lawyer, but I am not sure they deserve all the blame for making the process contentious. Divorce lawyers have a conflict of interest; they make more money when the divorce is contentious. Perhaps they do not deserve "all" of the blame, but I don't think there is any question th...
by sesq
Tue Jul 28, 2015 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Divorce [financial implications]
Replies: 72
Views: 6749

Re: Divorce

I am not a lawyer, but I am not sure they deserve all the blame for making the process contentious. My wife and I have had a couple friends divorce and we have given advice when asked. In the contentious situations one divorcing spouse was very controlling and directing their lawyer to scorch the ea...
by sesq
Tue Jul 28, 2015 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Do I need Umbrella Insurance if my Assets < Liability Limits?
Replies: 14
Views: 1291

Re: Do I need Umbrella Insurance if my Assets < Liability Limits?

Most of my assets are in classes that can't be touched by a tort or bankruptcy (e.g. 401(k)). However, I seem to recall that in my state something like 25% of my pay each year could be garnished in a judgement unless I could prove poverty. So I have an umbrella policy. I would do this even if I live...
by sesq
Fri Jul 24, 2015 9:41 am
Forum: Investing - Help with Personal Investments
Topic: Mom Investment CEO Needs Help!
Replies: 26
Views: 2201

Re: Mom Investment CEO Needs Help!

If I am reading this correctly the OP has a non-deductible IRA with basis, and no other IRA's. OP's spouse has a rollover IRA. If this is correct the OP is able to do the backdoor Roth on HER IRA. The "I" stands for individual, so if she were to convert the pro-rata rule would only apply t...
by sesq
Thu Jul 23, 2015 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: I'm a spender?
Replies: 44
Views: 5769

Re: I'm a spender?

I do similar things as you do, which is despite abundance I live like things are scarce. In my 20's I was maxing out my retirement accounts to keep money out of my spendable pocket. Every now and again I would experience a cash crunch and have to shuffle things around to cover something. Now married...
by sesq
Thu Jul 23, 2015 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: Greatly appreciate advice for my personal finances.
Replies: 26
Views: 2533

Re: Greatly appreciate advice for my personal finances.

Stick around and I am sure you'll be able to give advice like the rest of us.

For the ETF question, the wiki is pretty good. Can't go wrong with either really.

https://www.bogleheads.org/wiki/ETFs_vs_mutual_funds
by sesq
Thu Jul 23, 2015 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Selling home - unexpected competition
Replies: 113
Views: 13777

Re: Selling home - unexpected competition

In my case, it's getting to the point where I'm going to have to seriously consider selling the house to avoid the CG tax.... It's only going to take another ~10-15% to do that.... Once the homeowners exclusion goes away, the prospect of a 35% tax on my additional house "401(k)" gains see...
by sesq
Thu Jul 23, 2015 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Family budget advice
Replies: 14
Views: 1838

Re: Family budget advice

The paycheck that funds the FSA won't need a new W-4 since the taxes withheld will be adjusted to reflect the new pre-tax deduction. The W-4 mechanism is inperfect since it doesn't know what the other spouse makes, bonuses and only crudely estimates deductions, exemptions and credits. The best way t...
by sesq
Wed Jul 22, 2015 10:03 am
Forum: Investing - Help with Personal Investments
Topic: Greatly appreciate advice for my personal finances.
Replies: 26
Views: 2533

Re: Greatly appreciate advice for my personal finances.

I honestly didn't care for owning rental properties that much because after the govt took its share it really wasn't that much income that I kept in pocket (were lower end condos aimed at Vanderbilt college students, about 700/mo average). But my radiology partner has been talking up building a rea...
by sesq
Tue Jul 21, 2015 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: How do people afford children with a SAHS?
Replies: 183
Views: 10600

Re: How do people afford children with a SAHS?

easye418 wrote:
If push came to shove, she could probably work 2-12 hour shifts a week and we can put our child in daycare.


How about a weekend 12 hour shift? Maybe plus an evening shift. No daycare needed then. Its a sacrifice (together family time), but one I would strongly consider.
by sesq
Tue Jul 21, 2015 2:33 pm
Forum: Investing - Help with Personal Investments
Topic: Greatly appreciate advice for my personal finances.
Replies: 26
Views: 2533

Re: Greatly appreciate advice for my personal finances.

Can you roll the old IRA into your 401(k)? Would open up the backdoor Roth IRA. Did you like owning rental properties? Its certainly an option but I wouldn't enjoy it, so I would just work on building a taxable account with tax efficient index funds. You are presumably in the top tax bracket, so the...
by sesq
Tue Jul 21, 2015 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: How do people afford children with a SAHS?
Replies: 183
Views: 10600

Re: How do people afford children with a SAHS?

I don't know why everyone is picking on you for the house. In my view it's a reasonable size relative to your income Well, the mortgage is 3X the combined income and he is proposing to drop one of the salaries. I know the old rules of thumb are not ideal given the low rate environment, but OP start...
by sesq
Thu Jul 09, 2015 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Marriage Planning: Student Loans and General Finances Questions
Replies: 3
Views: 540

Re: Marriage Planning: Student Loans and General Finances Questions

On the cost of kids, the basics of food and diapers isn't a big deal. Daycare is a big deal. Loss of an income is a big deal. If the house needs to be bigger or in a better school system, likely a big deal. If there are health issues, could be a big deal. When they get a bit older activities can add...
by sesq
Thu Jul 09, 2015 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Should we do this renovation? (And should we use cash or HELOC)?
Replies: 14
Views: 992

Re: Should we do this renovation? (And should we use cash or HELOC)?

I would not renovate to move. I think you need to decide if your love of the neighborhood and lifestyle is worth paying for the reno plus private school, viewing the lottery possibility as a windfall only. If that does not match your desires I'd plan on selling without doing the reno. I say this as ...
by sesq
Thu Jul 09, 2015 9:42 am
Forum: Investing - Theory, News & General
Topic: Suze Orman Show Summary
Replies: 55
Views: 7584

Re: Suze Orman Show Summary

I liked having the option to watch on a lazy saturday night, so I miss the show. I liked the "how am I doing" and "can I afford it" segments. Though I didn't usually enjoy the "focus" segment as they were often a bit too emotional for my taste (I guess I am just the col...
by sesq
Wed Jul 08, 2015 2:27 pm
Forum: Personal Consumer Issues
Topic: kitchenaid vs. bosch dishwasher
Replies: 61
Views: 3246

Re: kitchenaid vs. bosch dishwasher

I got a ~$850 Bosch in my house when it was built 7 years ago. Its been fine. I do note that in the last year or so its not as whisper quiet as it used to be. When I first purchased it the lack of a heating element surprised and annoyed me. I am used to it, but I'd rather have the heating element. W...
by sesq
Mon Jul 06, 2015 2:47 pm
Forum: Personal Consumer Issues
Topic: What is the best meal you've had at a restaurant?
Replies: 119
Views: 11443

Re: What is the best meal you've had at a restaurant?

Long ago, and far away (1971, Hurst Texas), I was young, dumb, and dead broke. My rent was paid, no job, but I was waiting on my last paycheck which was due in 7 days. So I sat in my apartment, drank lots of water, and waited. Like I said, I was not the sharpest tool in the shed. Anyway, the check ...
by sesq
Fri Jun 26, 2015 8:32 am
Forum: Investing - Help with Personal Investments
Topic: Strategy for age 62 - 70?
Replies: 33
Views: 3478

Re: Strategy for age 62 - 70?

I think the thing to factor is whether the RMD's will make your SS benefits taxable. More to the point, whether the conversions would prevent that. Then its no longer horse trading 15% now versus 15% (subject to change) then. Keep in mind the threshholds for taxing SS are not subject to inflation ad...
by sesq
Thu Jun 25, 2015 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Where to go from here with my Personal Finances?
Replies: 19
Views: 3364

Re: Where to go from here with my Personal Finances?

need to stop spending, $3k - store cards $3.3k - furniture $5.7k - honeymoon This are the symptoms of your past spending habits (possibly the medical if it was cosmetic). Its harder to fix when the kids come along. Good job selling stuff to reverse this a bit. The bit quoted above, learning to defe...
by sesq
Thu Jun 25, 2015 2:22 pm
Forum: Investing - Theory, News & General
Topic: When saving money becomes an irrational obsession
Replies: 146
Views: 24513

Re: When saving money becomes an irrational obsession

I had a great uncle who always wanted to got to the Hiltop Steakhouse, north of Boston. A local joint, better than Outback, but nowhere near in price to say Morton's. His wife always told him they couldn't afford it. This went on for decades. When his wife died he learned that they had a passbook sa...
by sesq
Thu Jun 25, 2015 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Home renovation funding
Replies: 36
Views: 2886

Re: Home renovation funding

Most 401(k) loan plans that I have seen are capped at the lesser of 50% of the balance or $50k. Make HEL or HELOC (or refi) more likely.
by sesq
Wed Jun 24, 2015 5:59 pm
Forum: Personal Consumer Issues
Topic: Money arguments with spouse and how did you resolve
Replies: 72
Views: 8815

Re: Money arguments with spouse and how did you resolve

Like many here my wife and I generally agree on stuff. We just had a debate this past year about whether to do some renovations now or wait a year (my schedule stock vesting is a lot better then). We went back and forth and I ultimately agreed to move forward with the reno. On her pro side: This is ...
by sesq
Wed Jun 24, 2015 5:42 pm
Forum: Personal Consumer Issues
Topic: Backyard conundrum
Replies: 63
Views: 10102

Re: Backyard conundrum

H Golden 1 numbers: 1. APR(fixed) conventional at 3.25% | 2. 1.250% points | 3. NO PMI | 4. taxes/home insurance and mortgage is all included rasing our payment to $960/month for 15years!!!! | 5. new balance would be ~$138/k [/url] This would be a good/wise deal right? (I realize we are borrowing m...
by sesq
Wed Jun 24, 2015 5:37 pm
Forum: Personal Consumer Issues
Topic: Best Slat Wall / Pegboard Systems for Garage Storage
Replies: 15
Views: 1881

Re: Best Slat Wall / Pegboard Systems for Garage Storage

I have the Gladiator gearwall stuff covering all the walls in my garage. Way more expensive than pegboard but I felt it was worth it. I bought it all in January when HD, Lowes, Amazon and Sears all had sales going. My wife and I (not especially handy) installed it all ourselves. The electric bill fr...
by sesq
Mon Jun 22, 2015 2:50 pm
Forum: Personal Consumer Issues
Topic: Backyard conundrum
Replies: 63
Views: 10102

Re: Backyard conundrum

I would look at the rates of the refi and its closing costs (assume you find a loan that folds them into the rate) versus the HELOC and build an amortization schedule for each in excel. Pick the one with the lower cost, although be wary of the variable rate on the HELOC, PMI (not likely unless your ...
by sesq
Thu Jun 18, 2015 1:18 pm
Forum: Personal Consumer Issues
Topic: Gifting Money at Parties
Replies: 220
Views: 14390

Re: Gifting Money at Parties

Also, I've declined every co-worker wedding invite I've ever gotten. I don't socialize with them, and frankly I never understood why I was even invited just because our paychecks have the same company logo. And especially the invites to co-worker's children's weddings! So no doubt that's saved me f...
by sesq
Thu Jun 18, 2015 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions on what to pay off first: mortgage or car payment
Replies: 23
Views: 2527

Re: Suggestions on what to pay off first: mortgage or car payment

If you are in the 25% bracket or higher its close to a push interest-wise (3.4*.75=2.55% vs 1.9%). Unless money burns a whole in your pocket in the form of upgraditis automotive I'd pay the car first to open up future cashflow benefits. I assume you already getting the match in your retirement plan ...
by sesq
Wed Jun 17, 2015 9:39 am
Forum: Personal Consumer Issues
Topic: "Phantom" Tipping
Replies: 68
Views: 11178

Re: "Phantom" Tipping

And there are honest mistakes. My wife and I had a terrific meal and great service at a Ruth's Chris Steak House, and when they brought the check, it seemed... high... and I noticed it was for three steaks. The waitperson apologized and immediately carried that check to a nearby table with three pe...
by sesq
Thu Jun 04, 2015 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Big Decision to Make
Replies: 58
Views: 9723

Re: Big Decision to Make

If you retain the ability to quit and leave, the wife is on board, then why not try. You and your wife have a better understanding of the middle east than many of us do. I will mention that a $1M NW isn't all that. Its not bad either. Crossing the line just didn't have the payoff that you might imag...
by sesq
Thu Jun 04, 2015 10:34 am
Forum: Personal Consumer Issues
Topic: Mint + Santander
Replies: 3
Views: 572

Re: Mint + Santander

I have had an account for about 15 months and used Mint that entire time (used daily). I find that every account has periods where it updates poorly. Santander doesn't stick out as being bad in that regard. I like getting $20/mo.
by sesq
Thu Jun 04, 2015 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Divorcing over finances.
Replies: 70
Views: 6496

Re: Divorcing over finances.

Haven't been there, but probably yes. It would be a basic compatibility thing for me.
by sesq
Tue Jun 02, 2015 1:37 pm
Forum: Personal Consumer Issues
Topic: booking travel to Disney
Replies: 23
Views: 2022

Re: booking travel to Disney

I am going this week, family of 4. How I did it: Airfare - flying southwest on points transferred from chase's Ultimate rewards points (CC signups). Lodging: Starwood Swan 5 nights 40k spg points from a credit card sign up a couple years back and a biz stay or two. There are "resort fees" ...
by sesq
Tue Jun 02, 2015 1:07 pm
Forum: Personal Consumer Issues
Topic: Home Improvement Projects
Replies: 9
Views: 1595

Re: Home Improvement Projects

Sometimes cash. Once it was timed around the time rates had dropped so I did a cash out refi (into a 5/1 ARM). Most recently I used my HELOC. I recently used the HELOC as a cheap refinance vehicle and despite recent 25k project I expect to pay it off next year and be debt free. None of my moves have...
by sesq
Mon Jun 01, 2015 2:14 pm
Forum: Personal Consumer Issues
Topic: Kids and TV Viewing - Your Thoughts?
Replies: 28
Views: 2682

Re: Kids and TV Viewing - Your Thoughts?

My kids are 6 & 9. We don't have hard and fast rules or quotas but all the screens are in common areas and subject to moderation by their parents. No protests, no appeals. My wife is stricter than me. What burns the nine year old up is that she can't have a personal device (e.g. tablet or ipod t...
by sesq
Thu May 28, 2015 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: "Sock drawered" credit cards.
Replies: 18
Views: 2745

Re: "Sock drawered" credit cards.

Unless your score is bad credit scores aren't worth much thought. That said, a sock drawered card helps you two ways - length of credit and overall utilization. Length of credit - if you/they close it - - IN TEN YEARS - - it will drop off your report that will alter your average age of credit. Barel...
by sesq
Thu May 28, 2015 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Landscaping architect?
Replies: 12
Views: 1182

Re: Landscaping architect?

I used one. All in, I think it was about $7k on a (gasp) $75k+ job (patio, regrading, retaining wall, play area, swing set, stone steps, planting plans and plants, drainage work, new front walk, etc). It was money very well spent, especially since the contractors were difficult. The biggest issue fo...
by sesq
Mon May 18, 2015 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: How much does social security factor into your retirement income?
Replies: 169
Views: 13321

Re: How much does social security factor into your retirement income?

I have done detailed calculations using both my current lifetime earnings and the impact of hitting the wage base max till I am 50 (earliest I could imagine retiring) and earning to FRA. I have computed that as a high earner I am already past the second "bend point" and thus my future bene...
by sesq
Mon May 18, 2015 12:41 pm
Forum: Investing - Help with Personal Investments
Topic: Time to reach 1M and 2M milestones
Replies: 74
Views: 12957

Re: Time to reach 1M and 2M milestones

I once read an anology on another forum comparing the journey to financial independence to a giant moonshot worthy 4 stage booster rocket. The idea being that the size of the boosters and fuel required diminished as the rocket got higher up, momentum made things easier, gravity's pull grew weaker, e...
by sesq
Fri May 15, 2015 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Am I a Millionaire???
Replies: 53
Views: 6930

Re: Am I a Millionaire???

Yes , you are. But your retirement accounts (401k and IRA) has not been taxed yet. I personally calculate the value after tax, so take 25% off of that 500k. This way I can compare my retirement savings vs my taxable investments. This is my view also. Though the % estimate could be 20% or 30% or 40%...
by sesq
Thu May 14, 2015 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Selling home - unexpected competition
Replies: 113
Views: 13777

Re: Selling home - unexpected competition

When we sold our first house in a subdivision with substantially identical units we had one go for a quick sale and it cut the us down at the knees once it came out of pending and became a comp. I'd rather compete head-to-head on the market than have to compete against the ghost of a quickly sold co...
by sesq
Thu May 14, 2015 8:56 am
Forum: Personal Finance (Not Investing)
Topic: Networth question
Replies: 54
Views: 4940

Re: Networth question

I always include it in my net worth calc. But I am an accountant, so NW is assets less liabilities. I make an estimate of deferred taxes for my tax deferred accounts too (30%). I don't have any appreciated assets in a taxable account so there is no liability to compute there.
by sesq
Sun May 10, 2015 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Philosophies of frugality.
Replies: 64
Views: 7414

Re: Philosophies of frugality.

I do question why I spend so much time worrying about relatively small re-occuring expenses and optimizing them. Things like the cable/phone bills or the house cleaners my wife hires. I am mid-career and doing well that none of these expenses matter in the big picture. My instinct though is to think...
by sesq
Sat May 09, 2015 12:31 pm
Forum: Investing - Theory, News & General
Topic: The Case FOR the Roth 401k
Replies: 46
Views: 4801

Re: The Case FOR the Roth 401k

I am an AMT tax payer who does not fully eliminate the AMT exclusion (thus a 34% rate), and I max out a Roth 401(k). For me its a question of the current rate versus my expected rate in retirement (including means testing impacts). To that end, I expect to be taxed at at least 25% in retirement, and...
by sesq
Sat May 09, 2015 11:00 am
Forum: Personal Consumer Issues
Topic: TradingPlaces' advice on travel awards
Replies: 260
Views: 334549

Re: TradingPlaces' advice on travel awards

On Walmart Kiosk velocity limits - the machine locks up at $2k over 10 minutes or so. So assuming some one hasn't been doing loads just prior to you, you can load $500 x3 and $499.99 x1. So if you want to do $2,500 per trip you will need to kill some time in the middle, go shopping, people watch, wh...
by sesq
Sat May 09, 2015 10:20 am
Forum: Personal Consumer Issues
Topic: Backyard playsets - worth it?
Replies: 22
Views: 2918

Re: Backyard playsets - worth it?

We bought something from a dealer for about $3k about 4 years ago. We haven't stained it yet, but it needs it this year. We have a good neighborhood with lots of kids. They fight a bit over who gets to use the swings, we have three, space for four may have made sense. We placed ours on an ocean of p...
by sesq
Wed Apr 29, 2015 3:20 pm
Forum: Investing - Help with Personal Investments
Topic: Help with Inheritance
Replies: 34
Views: 2874

Re: Help with Inheritance

The default position around here is to favor investing versus reduce debt. That said, you have $387k of debt on a 95k income. I agree with the folks who suggest taking out the student loans, as that will have an immediate cash flow benefit. I would consider taking the mortgage out also. But if you d...
by sesq
Tue Apr 28, 2015 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: Take Two. New complicated member needs help in several areas
Replies: 37
Views: 2421

Re: Take Two. New complicated member needs help in several a

With existing trad ira for both of you, are you really getting any benefit of back door roth? His Rollover IRA at Vanguard - 6% - Assumed trad ira His Traditional IRA at Vanguard - 7% Her Traditional IRA at Vanguard - 3.96 rounded to 4% Her Rollover IRA at Vanguard - 4.26% rounded down to 4% Total ...
by sesq
Tue Apr 14, 2015 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Does your family know about your net worth (ball park)?
Replies: 98
Views: 12218

Re: Does your family know about your net worth (ball park)?

For Q1/Q2 - we all could make guesses, mine would be more educated for my wife's siblings since they ask me for advice. For Q3 - One of my brothers makes rich uncle comments about me to his (essentially grown) kids. He chose a family focused lifestyle and lives hand to mouth. Doesn't stop him from m...
by sesq
Fri Apr 10, 2015 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: What is Sammy Savers net worth?
Replies: 41
Views: 4000

Re: What is Sammy Savers net worth?

Less than $1M. His tax deferred accounts will be subject to some level of tax (with 25K of pension/ss income, though the SS may be excluded if he keeps is income below the threshhold), so he has a deferred tax liability of some amount. His taxable accounts have an unknown basis, so he may have a def...

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