Search found 1047 matches

by Bacchus01
Sun Oct 22, 2017 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: new 401(k) limits announced
Replies: 63
Views: 7433

Re: new 401(k) limits announced

Why couldn't they just make it $18,600 instead? That would be nice and divisible by 24 (or 12) for payroll contribution. At the current limit, it's an easy $750 bi-monthly ($1500 monthly) to max out. For 2018, it will be $770.83333 bi-monthly ($1541.66667 monthly). Hitting the exact limit just got ...
by Bacchus01
Sun Oct 22, 2017 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Back Door Roth and Mega Back Door Roth
Replies: 19
Views: 1553

Re: Back Door Roth and Mega Back Door Roth

Is there a reason you are limiting your mega to just $9K? Do you have an HSA and are you using it? No, I do not have an HSA as I do not have a high deductible plan. My employer provides great medical insurance for us at no cost (no monthly premiums and no deductible). I just have to pay $5 for doct...
by Bacchus01
Sun Oct 22, 2017 11:40 am
Forum: Investing - Theory, News & General
Topic: Any compelling reason to not contribute to Indiana 529?
Replies: 21
Views: 802

Re: Any compelling reason to not contribute to Indiana 529?

We contribute up to the tax credit limit for WI residents for each of our kids as well as DW and myself. We already max all other retirement vehicles as well as probably $100k additional after tax. The biggest thing against what Klangfool advocates is if you plan to not be working when your kids are...
by Bacchus01
Sat Oct 21, 2017 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Back Door Roth and Mega Back Door Roth
Replies: 19
Views: 1553

Re: Back Door Roth and Mega Back Door Roth

Is there a reason you are limiting your mega to just $9K?

Do you have an HSA and are you using it?
by Bacchus01
Sat Oct 14, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Refinancing: Appraisal Value Lowered During Underwriting
Replies: 14
Views: 1101

Re: Refinancing: Appraisal Value Lowered During Underwriting

Try another lender. Or get another appraisal. An appeal will do you nothing. The underwriters job is to protect the company from undue risk. They are not trying to just make you mad or treat you poorly, they are managing risk. Sounds like you need to work through this issue but getting pissed about ...
by Bacchus01
Thu Oct 12, 2017 1:37 pm
Forum: Personal Consumer Issues
Topic: Pro and cons of the Prime offer by Amazon.......
Replies: 39
Views: 3690

Re: Pro and cons of the Prime offer by Amazon.......

I rarely see Amazon being price competitive any more. Walmart, Home Depot, Dicks, etc online prices are as good and I can return locally
by Bacchus01
Wed Oct 11, 2017 6:35 am
Forum: Personal Consumer Issues
Topic: Wifi Thermostat
Replies: 55
Views: 3684

Re: Wifi Thermostat

Just installed, by myself, and Ecobee3 last weekend. It needed a C as mentioned, but the kit came with an adapter you install at the furnace for this. That took me another 5 minutes to install. Very easy.
by Bacchus01
Sun Oct 08, 2017 10:39 am
Forum: Personal Finance (Not Investing)
Topic: ALL account on Quicken?
Replies: 11
Views: 943

Re: ALL account on Quicken?

I track 30 credit cards, 10 savings and checking accounts, 4 brokerage accounts, 2 401k's, and 4 IRA's in quicken. Just as Silk mentions, I have also caught fradulent charges almost immediately in quicken. Do it. What? Why so many!? One reason might be that you manage multiple family members accoun...
by Bacchus01
Sat Oct 07, 2017 8:22 am
Forum: Personal Consumer Issues
Topic: Home automation
Replies: 30
Views: 4394

Re: Home automation

I'm digging up this thread instead of creating a new one. I am more interested in some home automation things. I don't, however, want to go with a whole house system and I'm not really sure I need everything to talk to each other. Some things that I'm looking at and would like some thoughts from pe...
by Bacchus01
Fri Oct 06, 2017 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: ALL account on Quicken?
Replies: 11
Views: 943

Re: ALL account on Quicken?

Strayshot wrote:
Fri Oct 06, 2017 4:53 pm
I track 30 credit cards, 10 savings and checking accounts, 4 brokerage accounts, 2 401k's, and 4 IRA's in quicken.
Just as Silk mentions, I have also caught fradulent charges almost immediately in quicken. Do it.


What? Why so many!?
by Bacchus01
Fri Oct 06, 2017 7:54 am
Forum: Personal Consumer Issues
Topic: Garage door opener on last leg
Replies: 32
Views: 2756

Re: Garage door opener on last leg

If you garage has a torsion spring (is mounted to front wall) instead of the stand springs along the side tracks, I would look into a jackshaft opener. https://www.amazon.com/dp/B00BS28SP8/ref=asc_df_B00BS28SP85203080/ I have two of those. Saves overhead space. Quieter. Had automatic deadbolt as we...
by Bacchus01
Thu Oct 05, 2017 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: Generation skip tax and 529 plan?
Replies: 10
Views: 3906

Re: Generation skip tax and 529 plan?

So. If I open an account for myself, and then move it to one of my children, what are the issues? I also contribute to my son's account. If I then later change the beneficiary on my son's account (which now has comingled funds that were put in his account and funds that were moved to his account fro...
by Bacchus01
Thu Oct 05, 2017 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: Where do you think the money will come from to move the overall market higher?
Replies: 31
Views: 2247

Re: Where do you think the money will come from to move the overall market higher?

I wonder about this too, although for a slightly different reason. Total student loan debt in this country: $1,400,000,000,000.00 Total credit card debt in this country: $1,000,000,000,000.00 Total auto loan debt in this country: $1,000,000,000,000.00 And all are growing. This can't possibly end we...
by Bacchus01
Thu Oct 05, 2017 10:23 am
Forum: Personal Consumer Issues
Topic: Home automation
Replies: 30
Views: 4394

Re: Home automation

I'm digging up this thread instead of creating a new one. I am more interested in some home automation things. I don't, however, want to go with a whole house system and I'm not really sure I need everything to talk to each other. Some things that I'm looking at and would like some thoughts from peo...
by Bacchus01
Thu Oct 05, 2017 6:51 am
Forum: Investing - Help with Personal Investments
Topic: Help with private investment opportunity
Replies: 47
Views: 2520

Re: Help with private investment opportunity

How much leverage are they taking on? What is the leverage ratio?
by Bacchus01
Thu Oct 05, 2017 6:42 am
Forum: Investing - Help with Personal Investments
Topic: First time home buyer - gut check
Replies: 19
Views: 1317

Re: First time home buyer - gut check

Get an apartment near a park

I wouldn't buy based on your scenario
by Bacchus01
Thu Oct 05, 2017 6:36 am
Forum: Personal Finance (Not Investing)
Topic: How much worth house should one buy?
Replies: 73
Views: 4155

Re: How much worth house should one buy?

We spend 8.7% of gross income on mortgage and taxes

It was about 13.3% when we bought it and I thought that was a lot.
by Bacchus01
Wed Oct 04, 2017 1:20 pm
Forum: Investing - Theory, News & General
Topic: Does anyone hold cash?
Replies: 58
Views: 5582

Re: Does anyone hold cash?

We hold $100K in cash. It has nothing to do with diversification or risk. I just want to be able to have cash on hand to buy nearly anything we want at any time without dipping into other areas.
by Bacchus01
Wed Oct 04, 2017 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Tax Strategy for Timing of Early Retirement with Significant Long-Term Capital Gains
Replies: 41
Views: 2881

Re: Tax Strategy for Timing of Early Retirement with Significant Long-Term Capital Gains

I love these threads. Thank you guys!

I want to retire early, maybe as early as 47, and these threads really help with planning. I had been assuming in retirement that we'd be paying ~25% in fed taxes but you are showing ways to live off $100k a year or less, and paying much lower taxes.

Thanks
by Bacchus01
Mon Oct 02, 2017 8:33 pm
Forum: Personal Consumer Issues
Topic: Pressure washer with telescoping wand and bleach spray
Replies: 10
Views: 760

Re: Pressure washer with telescoping wand and bleach spray

Basically, you go to your local HomeDepot and ask them what to buy. You can look online at their web site. I had my son pressure wash the back of the house this summer. He used a ladder and didn't use bleach. Gear: Safety goggles. Good lord, please don't do that! The average person at Home Depot ha...
by Bacchus01
Mon Oct 02, 2017 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Reach out to hiring manager directly on LinkedIn?
Replies: 52
Views: 2948

Re: Reach out to hiring manager directly on LinkedIn?

As a hiring manager, I see no downside in this. Worst case if the company policy requires that you go through HR, they will just tell you and you will be no worse off. Even then, I would appreciate the initiative. As a hiring manager, I would naturally be a little irked if someone did this to me, a...
by Bacchus01
Mon Oct 02, 2017 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Reach out to hiring manager directly on LinkedIn?
Replies: 52
Views: 2948

Re: Reach out to hiring manager directly on LinkedIn?

I'll give you one perspective, so take it for what's it's worth. As a senior executive, I ignore any of these that come in from LinkedIn. Why? First, I get them all the time. Like every day. I get so many I stopped reading them and just hit delete. The only time I even consider looking at them is if...
by Bacchus01
Fri Sep 29, 2017 10:12 pm
Forum: Personal Consumer Issues
Topic: $700 to install a dishwasher seem by a plumber?!
Replies: 65
Views: 4519

Re: $700 to install a dishwasher seem by a plumber?!

Also find out where is the main water shut off for your condo unit. The main shut off valve is outside the unit. Turning that off will turn off water to other units. I suppose that's why they want anything plumbing related to be done by licensed plumber. Anyways I talked to the condo management off...
by Bacchus01
Fri Sep 29, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Question: Why do people put/keep millions of dollars in investment accounts?
Replies: 66
Views: 8253

Re: Question: Why do people put/keep millions of dollars in investment accounts?

The fear of a crash is generally grossly overstated. For instance, I have seen more than once the idea that the stock market can drop 50% in one single day. Sure that is possible, but it has never happened, has it? I think about 10% is the most any stock market has dropped in one day but 2008 was p...
by Bacchus01
Fri Sep 29, 2017 8:55 am
Forum: Personal Finance (Not Investing)
Topic: How much liquid Cash to Keep in Savings
Replies: 35
Views: 4718

Re: How much liquid Cash to Keep in Savings

When working I'd say emergency fund should be 6-12 months. There are multiple events that would stop you from working, or be unable to get new employment 6+ months. They may be relatively rare but they can and do occur to some people every day. Being retired we keep apprx 3 years expenses liquid so...
by Bacchus01
Fri Sep 29, 2017 7:38 am
Forum: Personal Finance (Not Investing)
Topic: How much liquid Cash to Keep in Savings
Replies: 35
Views: 4718

Re: How much liquid Cash to Keep in Savings

You'll get such a wide number and different reasons.

We keep $100k. Why? Because nearly everything we want to buy on spur of moment can be had under that number (this includes buying land, cars, equipment, etc)
by Bacchus01
Wed Sep 27, 2017 5:53 pm
Forum: Personal Consumer Issues
Topic: $700 to install a dishwasher seem by a plumber?!
Replies: 65
Views: 4519

Re: $700 to install a dishwasher seem by a plumber?!

It's an appliance

Do you need a plumber to hook up your clothes washing machine? The installation is nearly identical.
by Bacchus01
Wed Sep 27, 2017 1:47 pm
Forum: Personal Consumer Issues
Topic: $700 to install a dishwasher seem by a plumber?!
Replies: 65
Views: 4519

Re: $700 to install a dishwasher seem by a plumber?!

I bought a dishwasher from Costco for $700. I put it on my Costco Visa and it has a 4 year warranty as a result. That was $50 more than the cheapest I could find elsewhere, but had a 4 year warranty. Do you know how much install, delivery and take away of old unit was? Zero. Nada. Nothing. Go to Cos...
by Bacchus01
Wed Sep 27, 2017 9:27 am
Forum: Investing - Help with Personal Investments
Topic: I'm shocked! [Mother 100% in bonds and annuities]
Replies: 67
Views: 6444

Re: I'm shocked!

As others have said, the big question here is what is the money for. You should ask your mother that. What does she want to do with it? If the answer is that she wants it to live on, period. Then you pretty much leave it like it is. If the answer is "I'd like to live well on it, but then pass on thi...
by Bacchus01
Sun Sep 24, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 233
Views: 25379

Re: Calling out the not so rich bogleheads

Anyway, I'm glad some of you realize that those of us who don't make 6 figures have some different dilemmas to deal with than you do. Those post of I have 4 million in my roth, 3 in my ira, 400k in savings, and a house worth 2 million am I doing ok? Are really annoying. The correct answer is you wo...
by Bacchus01
Sun Sep 24, 2017 7:16 pm
Forum: Personal Consumer Issues
Topic: Good Modern Science Fiction
Replies: 255
Views: 30990

Re: Good Modern Science Fiction

Left Hand of Darkness Ursula LeGuin Snowcrash Neal Stephenson Neuromancer William Gibson Ringworld Larry Niven The Forever War Joe Haldeman Startide Rising David Brin Edit: added authors I thought OP said modern. Some of these are 40 years old. Any modern stuff, like the last 5 years?
by Bacchus01
Sun Sep 24, 2017 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 233
Views: 25379

Re: Calling out the not so rich bogleheads

Anyway, I'm glad some of you realize that those of us who don't make 6 figures have some different dilemmas to deal with than you do. Those post of I have 4 million in my roth, 3 in my ira, 400k in savings, and a house worth 2 million am I doing ok? Are really annoying. The correct answer is you wo...
by Bacchus01
Sat Sep 23, 2017 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Age you retired
Replies: 112
Views: 8284

Re: Age you retired

The number of answers in the 40s is surprising What did you do and what kind of net worth did you have to do that? Did you have children? I worked in the actuarial field for 23 years. Never earned more than $75k. In late 2008, when the markets were crashing, I retired with a NW of just over $800k. ...
by Bacchus01
Fri Sep 22, 2017 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Age you retired
Replies: 112
Views: 8284

Re: Age you retired

The number of answers in the 40s is surprising


What did you do and what kind of net worth did you have to do that? Did you have children?
by Bacchus01
Fri Sep 22, 2017 6:34 am
Forum: Investing - Theory, News & General
Topic: Retirees, what is your marginal tax rate?
Replies: 102
Views: 10356

Re: Retirees, what is your marginal tax rate?

We were in the (MFJ) 25% bracket before retiring. We are postponing SS and withdrawals from tax-deferred accounts until age 70. She earns a small salary from part-time teaching. Taking only earnings, dividends and interest into account, we are now in the 15% bracket. We'll probably do Roth conversi...
by Bacchus01
Fri Sep 22, 2017 6:28 am
Forum: Investing - Theory, News & General
Topic: No More Saving???
Replies: 114
Views: 10546

Re: No More Saving???

This is a great question. As long as we are working, I don't ever expect us to stop taking advantage of tax efficient accounts and maxing contribution (HSA, 401K to match, Roth, 401K remainder). I also expect we will contribute to 529s for the rest of our lives to leave an education fund for our kid...
by Bacchus01
Thu Sep 21, 2017 4:40 pm
Forum: Investing - Theory, News & General
Topic: Retirees, what is your marginal tax rate?
Replies: 102
Views: 10356

Re: Retirees, what is your marginal tax rate?

I'm curious what people are seeing in their total fed tax rate and some of the parameters around that. We pay about 30-33% total fed/state taxes right now with ~$500K household income. I have to believe it will be substantially lower in retirement when drawing $100K or so in living costs with a 7 fi...
by Bacchus01
Thu Sep 21, 2017 1:39 pm
Forum: Personal Consumer Issues
Topic: New vehicle...GMC Acadia, Chevy Traverse, or Buick Enclave?
Replies: 127
Views: 21365

Re: New vehicle...GMC Acadia, Chevy Traverse, or Buick Encla

I am looking for a replacement vehicle for our 2004 Honda CRV. The CRV has been great, but at 179K miles, it is showing its age and we need some more growing room for our 1 year old twins. I have been researching replacement vehicles such as the GMC Acadia, Chevy Traverse, Buick Enclave , Dodge Dur...
by Bacchus01
Thu Sep 21, 2017 1:34 pm
Forum: Investing - Theory, News & General
Topic: What inflation rate do you use for your planning?
Replies: 105
Views: 8787

Re: What inflation rate do you use for your planning?

DrGoogle2017 wrote:
Thu Sep 21, 2017 9:11 am
I used real returns of 2%. I like to be on the conservative side.
I see this number coming up a lot. This seems really low and conservative.
by Bacchus01
Thu Sep 21, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Let's talk about your FI # and family income [Financial Independence]
Replies: 165
Views: 15444

Re: Let's talk about your FI # and family income [Financial Independence]

I like this format someone else posted: Current Situation married, 3 kids, 20 year career, now exec mgmnt annual W2 income - six figures annual expenses - 28% of income net worth including property - 5.5x annual income.10x annual expenses. Our target FI number is $10M. Yeah, I know, that's high, but...
by Bacchus01
Thu Sep 21, 2017 7:54 am
Forum: Investing - Theory, News & General
Topic: What inflation rate do you use for your planning?
Replies: 105
Views: 8787

Re: What inflation rate do you use for your planning?

I'm digging this thread up because I was just thinking about this very issue. I had always planned with 3% inflation and a 5% long-term real return given fairly aggressive portfolio holdings. I really liked all the analysis above. It helped put some perspective on things. The historical rate of infl...
by Bacchus01
Wed Sep 20, 2017 1:52 am
Forum: Personal Finance (Not Investing)
Topic: 30yr Mortgage Refi Rates
Replies: 16
Views: 2521

Re: 30yr Mortgage Refi Rates

I'm surprised a banker would even say such a thing without understanding more details.

A half percent on many loans could easily cover closing costs.

I'd refinance every week if the differential had a payback under 12 months
by Bacchus01
Thu Sep 07, 2017 5:34 am
Forum: Personal Finance (Not Investing)
Topic: How to buy raw (unimproved) land?
Replies: 34
Views: 3681

Re: How to buy raw (unimproved) land?

Find a land specialist investor. I've done this. I used a company that is now part of Compeer Financial. I got a 20 year with 10% down for like 2.75%. There are options out there. Your local place is likely not great at it. BTW, my experience with Compeer has been EXCELLENT This is the information ...
by Bacchus01
Thu Sep 07, 2017 5:30 am
Forum: Investing - Theory, News & General
Topic: Do retiree BHs actually run down their portfolios?
Replies: 73
Views: 8234

Re: Do retiree BHs actually run down their portfolios?

So, 4% is a safe withdrawal rate but 5% is insane reckless folly?

I don't believe I follow that logic very well. Huh?
by Bacchus01
Thu Aug 31, 2017 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: How to buy raw (unimproved) land?
Replies: 34
Views: 3681

Re: How to buy raw (unimproved) land?

pshonore wrote:
Thu Aug 31, 2017 9:15 am
One other fact, interest paid on a "raw land" mortgage is not deductible for tax purposes until you start construction for a personal residence.
However, if you treat raw land as an investment, you can add that interest to the basis which creates a future tax deduction essentially
by Bacchus01
Wed Aug 30, 2017 9:44 pm
Forum: Personal Finance (Not Investing)
Topic: How to buy raw (unimproved) land?
Replies: 34
Views: 3681

Re: How to buy raw (unimproved) land?

I just checked "Compeer Financial" and they don't offer loans where I bought from. But by all means if you think you can get a 2.75% interest rate on a raw land purchase (which is, btw, lower than even a house mortgage interest rate) then absolutely try that route. Are you suggesting I'm lying? I b...
by Bacchus01
Wed Aug 30, 2017 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: Living Expenses - what's "reasonable"?
Replies: 101
Views: 9042

Re: Living Expenses - what's "reasonable"?

For a family of 5, we spend $25K per person per year all-in (food, shelter, etc.) excluding savings.

I would expect that for 2 of us, that number would be a bit higher at around $30k per person per year. In retirement, I'm planning for $45K per pers per year (in today's dollars)
by Bacchus01
Wed Aug 30, 2017 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: What should the savings be for an average professional
Replies: 168
Views: 16817

Re: What should the savings be for an average professional

I was talking to a friend who am I open with about money topics and issues. We got talking about how much an average earning professional like an engineer or accountant should have saved after working for 20 years. To keep things simple, we just talked about a single earner family. Obviously there ...