Search found 379 matches

by Hub
Tue Jul 11, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: How much of an increase of salary would you expect before switching jobs?
Replies: 94
Views: 7528

Re: How much of an increase of salary would you expect before switching jobs?

For me it has always come down to three factors in the following order of priority: 1. Job satisfaction/happiness 2. Room for substantial income growth within my field 3. Competitive compensation today If I only had 1, I would be actively looking for a new job. If I had 1 and 3, I would be passivel...
by Hub
Mon Jul 10, 2017 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Father Plan for Retirement (messy)
Replies: 26
Views: 2944

Re: Helping Father Plan for Retirement (messy)

The good news is that he has pensions and SS coming that will keep him living well enough even if he loses his nest-egg. He's done a pretty good job of saving from my perspective. The timeshare thing is tragic though.
by Hub
Mon Jul 10, 2017 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: What do you do when you run the numbers and don't like the answer that you get?
Replies: 29
Views: 3737

Re: What do you do when you run the numbers and don't like the answer that you get?

I typically just quit being so conservative on my expected real rate of return. Crank it up to 6 or 7% and see where that gets me. Then I tell myself I can always go back to a job with a pretty low income and still cover current living expenses need be. Of course I'm not close to pulling the plug or...
by Hub
Fri Jun 30, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Can you share some of your financial goals?
Replies: 69
Views: 8610

Re: Can you share some of your financial goals?

In my best William Wallace (OK, Mel Gibson) voice: FREEDOM! Most days, I don't dislike my job, but if I didn't need the paycheck for financial security, I would do something else. I like to think I'd be productive, maybe start a company, write open source software, write books, or teach. Who knows,...
by Hub
Thu Jun 22, 2017 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?
Replies: 22
Views: 2665

Re: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?

The $775 application fee seems fine to me in light of the 0% origination fee. It would be common to have to pay something there.

Crazy that commissions like this are considered normal.
by Hub
Fri Jun 16, 2017 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9818

Re: Should I cancel my whole life policy?

Great news! Today, OP delivered.
by Hub
Mon Jun 12, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Can't decide how to get [paid: W-2 or 1099?]
Replies: 15
Views: 1678

Re: Can't decide how to get pay.

I bet the 1099 is your better option regardless of the FICA taxes. If your wife's income is enough for you to defer your entire $50k then I'm betting that's a 28% marginal tax rate at a minimum that you're avoiding with a SEP. Also you can probably deduct Schedule C business related expenses this way.
by Hub
Mon Jun 12, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Small company 401k
Replies: 30
Views: 2244

Re: Small company 401k

Interesting thread. I'm in a position to influence the next steps for my 100 employee company's 401k plan. I'll look at some of these options as well.
by Hub
Wed May 31, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Pensioner Envy!
Replies: 21
Views: 5980

Re: Pensioner Envy!

Thanks for the update. Good on you for wanting to help your parents and for having enough credibility that they are willing to listen to your suggestions. That said I sure am glad my father elected for the smaller pension that will go to my mother when/if she survives him. (she will) Why age 60 for ...
by Hub
Tue May 30, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 9818

Re: Should I cancel my whole life policy?

Thanks for all the follow ups Dark_Fenix. Others will be able to learn from your experience here and that's worth a lot. Good luck with a positive outcome.
by Hub
Mon May 15, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else dial down retirement savings?
Replies: 32
Views: 5552

Re: Anyone else dial down retirement savings?

I do get where OP is coming from. My college savings plan for my kids is to have enough saved by then in my retirement accounts so that I can stop savings at that point and be able to cash flow their college. That said I can't stomach the marginal tax rate I find my last dollars in these days so I w...
by Hub
Mon May 15, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 613
Views: 94836

Re: High Earners - What's Your Profession?

Commercial Loan Officer at a community bank. Its a career that I enjoy a lot, but anything very far north of $100k requires the ability to bring in quality customers that the bank wouldn't have had without you. So that can be stressful. Wife is an attorney but she stays home with kids for now. Sure ...
by Hub
Thu May 11, 2017 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead Debt Free Scream! 174K in 53 months
Replies: 24
Views: 4031

Re: Boglehead Debt Free Scream! 174K in 53 months

Nice work! And wisely you're already in the right place for your next step where you start investing. Please ignore Dave on this front :).
by Hub
Tue Apr 25, 2017 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 80
Views: 9859

Re: Helping adult children

I am in my early 30s, and my parents have 5 adult children, many of whom have been helped out financially at one time or another. The idea that they would give me money to make it 'even' when one of my brothers needed help is insulting. I am an adult. I have no claim to my parents money. They can s...
by Hub
Mon Apr 24, 2017 12:23 pm
Forum: Investing - Theory, News & General
Topic: Single most important investing advice?
Replies: 97
Views: 13318

Re: Single most important investing advice?

30 years ago my father advised me to buy and hold low cost index funds. Don't waste money, invest it for the long run. Go 100% stocks when you're young. Pay yourself first. When stocks go down you get more shares for your money. Don't stop buying when the market sells off. Take advantage of a IRA. ...
by Hub
Mon Apr 24, 2017 12:00 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 336
Views: 44347

Re: Larry Swedroe says "Goodby."

I consider Larry's book "The Only Guide to a Winning Investment Strategy You'll Ever Need" my graduate degree in asset allocation and passive index fund investing. It's my favorite book in this genre and it's the one I recommend to people that are worthy of the knowledge. Thanks Larry for your books...
by Hub
Mon Apr 24, 2017 11:49 am
Forum: Investing - Theory, News & General
Topic: Moving company 401k from MassMutual to Vanguard
Replies: 7
Views: 1108

Re: Moving company 401k from MassMutual to Vanguard

Thanks for the replies. I can't wait for us to get out of MM. For real. My new employer uses MassMutual 401k and it is complete garbage compared to the Schwab 401k with self directed option I came from. I think I will soon be in a position to get on the committee that decides these sort of things a...
by Hub
Thu Apr 20, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 144
Views: 21312

Re: TaxAct pre-purchase discount

This was the last year I will use TaxAct due to their substantial price increase and shenanigans.
by Hub
Fri Apr 07, 2017 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Last day for solo 401k contribution?
Replies: 11
Views: 1246

Re: Last day for solo 401k contribution?

... but IRS regulations require the deposit of the contributions by the 15th of the following month (January 15th). I just opened my wife's sole proprietor solo 401k yesterday at TD Ameritrade. They told me the employee contribution was due by 1/15/17. I wasn't sure they were right, but I'm happy t...
by Hub
Wed Mar 01, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Help with commercial building loan!
Replies: 6
Views: 439

Re: Help with commercial building loan!

The nice thing about the SBA options is they'll let you roll in the start-up cost airball into the mortgage and not many conventional commercial banks will do that otherwise. Compare and contrast the 504 and 7a programs closely. At that loan size I see more 7a loans than 504, but either could work f...
by Hub
Mon Feb 06, 2017 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: HSA mistaken distribution issue (2014 taxes)
Replies: 5
Views: 631

Re: HSA mistaken distribution issue (2014 taxes)

That's good to know. Thanks for the follow up. Payflex is now agreeing with me that the 1099 was sent by error somewhere along the line since it was a trustee to trustee direct transfer. I'm trying to get a corrected one sent, but if that doesn't work out then I'll lean toward doing what you ended u...
by Hub
Mon Feb 06, 2017 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws Estate Planning - Wisdom Wanted
Replies: 50
Views: 2895

Re: In-Laws Estate Planning - Wisdom Wanted

This is sounding like an episode of Dallas ... More like Dallas... Des Moines Edition. OP, the clause about the RE wouldn't bother me much. So long as you can sell for market value it doesn't matter other than adding some complexity. I get your frustration, but I don't see what can be done here oth...
by Hub
Mon Feb 06, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: HSA mistaken distribution issue (2014 taxes)
Replies: 5
Views: 631

Re: HSA mistaken distribution issue (2014 taxes)

Payflex is saying that when the 5498-SA form comes out it will show that distribution as a contribution to the other plan. But that form doesn't come out until May. Odd. Feel like I'm missing something here. Other oddity is that I had the aforementioned $9k transfer and then also a final account clo...
by Hub
Mon Feb 06, 2017 11:21 am
Forum: Personal Finance (Not Investing)
Topic: HSA mistaken distribution issue (2014 taxes)
Replies: 5
Views: 631

Re: HSA mistaken distribution issue (2014 taxes)

I just received a 1099-SA from Payflex Systems and I appear to have the exact same problem in that they're reporting it as a regular HSA distribution. I initiated a trustee to trustee transfer from Payflex to Elements for $9k that they are referring to. Please tell me I don't have to do what the OP ...
by Hub
Tue Jan 24, 2017 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Possbile career moves without college degree
Replies: 39
Views: 3973

Re: Possbile career moves without college degree

There is a local domino's pizza franchise that lets its best long term managers buy and take over groups of 4 stores. Maybe find a "local" business that is similar in that they are just entrepreneurial individuals but they own 20-30 franchises and really appreciate hiring good help.
by Hub
Fri Jan 20, 2017 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Where to get $100k for home remodel?
Replies: 34
Views: 4225

Re: Where to get $100k for home remodel?

The HELOC seems simplest to me. I had an easy experience getting mine done with no fees at PenFed.

Another option would be a cash-out refinance of your home, but the odds are your current mortgage interest rate is better than a new one would be.
by Hub
Wed Jan 11, 2017 10:24 am
Forum: Personal Finance (Not Investing)
Topic: How Severe is an HSA Audit?
Replies: 29
Views: 6007

Re: How Severe is an HSA Audit?

I had an "audit" of my HSA (and Schedule A) one year. They asked for all documents supporting all entries on Form 8889 and Schedule A. It was a letter request, not an in-person audit. What did you send them? Then what happened? I sent them copies of forms 5498-SA, 1099-SA and W-2 (code W,...
by Hub
Tue Jan 10, 2017 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: How Severe is an HSA Audit?
Replies: 29
Views: 6007

Re: How Severe is an HSA Audit?

jebmke wrote:I had an "audit" of my HSA (and Schedule A) one year. They asked for all documents supporting all entries on Form 8889 and Schedule A. It was a letter request, not an in-person audit.
What did you send them? Then what happened?
by Hub
Tue Dec 20, 2016 10:36 am
Forum: Personal Consumer Issues
Topic: The True Cost of Owning a Dog
Replies: 176
Views: 16697

Re: Cost of dog ownership.

I've always liked having dogs and want my kids to grow up with them, but the cost is hard to reconcile. Our 13 yr old dog just died and it's certainly a burden lifted at this point. Of course she had been an old dog that wasn't the best roommate for the past 3-4 years so my memories of doggy joy are...
by Hub
Mon Dec 19, 2016 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: Is Personal Injury Protection Necessary?
Replies: 7
Views: 1479

Re: Is Personal Injury Protection Necessary?

From what I understand it pays for things that your insurance will also pay for so you may even get paid double time on stuff. Plus at a minimum it would get me back my deductible in my HDHP, so I added it back on to our policies after watching a friend successfully use his PIP coverage no problem.
by Hub
Mon Dec 19, 2016 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of person buys a franchise?
Replies: 49
Views: 6420

Re: What kind of person buys a franchise?

The people that I know that have done well with them own more than a few and were never scared to get their hands dirty managing them. They also all took some lumps along the way. It's never looked appealing to me, but obviously lots of people do well with them. I assume the appeal is that it doesn'...
by Hub
Wed Dec 07, 2016 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: HELP: salary negotiation
Replies: 17
Views: 2700

Re: HELP: salary negotiation

Hey there, Congrats on the new job offer! Regardless of outcome, that should feel good. I do think that you can, and probably should negotiate a higher salary. Here's how I would suggest doing so: 1: Always lead, and close with affirmations that you want the job, and are excited about the job. The ...
by Hub
Wed Nov 30, 2016 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Feeling like you've "made it"
Replies: 107
Views: 12274

Re: Feeling like you've "made it"

I can relate to always peeking my head up at that next tier even after reaching one that I thought would be an achievement for the long haul. I don't feel inadequate along the way, but that higher rung up keeps looking interesting. I couldn't agree more with the previous poster about an aggressive s...
by Hub
Wed Nov 30, 2016 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Does your employer pay for continuing education?
Replies: 27
Views: 1991

Re: Does your employer pay for continuing education?

Both of my employers paid for it at manager cost center discretion and neither had a formal policy. (Neither are megacorp, one publically traded with 1000 employees and the other one only 100 employees). I got my MBA paid for which is nice.
by Hub
Wed Nov 30, 2016 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Last day for solo 401k contribution?
Replies: 11
Views: 1246

Re: Last day for solo 401k contribution?

... but IRS regulations require the deposit of the contributions by the 15th of the following month (January 15th). I just opened my wife's sole proprietor solo 401k yesterday at TD Ameritrade. They told me the employee contribution was due by 1/15/17. I wasn't sure they were right, but I'm happy t...
by Hub
Tue Nov 29, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Would You Move For A Promotion?
Replies: 22
Views: 3608

Re: Would You Move For A Promotion?

Remember to account for any increased risk associated with the move. For instance if you get paid more, but lose job stability, then is it really a better pay over the long term? (sort of an analysis that is analagous to the stocks vs bonds tradeoff) From my situation this is the largest considerat...
by Hub
Mon Nov 28, 2016 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: How to discuss salary offer as a manager?
Replies: 29
Views: 3154

Re: How to discuss salary offer as a manager?

I think the $75k figure is something you can work with and be honest about. BUT you better be certain HR will support that for an internal candidate that already got a big raise recently. I've seen managers incorrectly assume they can get HR to not classify an internal move as lateral.
by Hub
Tue Nov 08, 2016 4:27 pm
Forum: Investing - Help with Personal Investments
Topic: Individual 401K- options and advise
Replies: 12
Views: 864

Re: Individual 401K- options and advise

This thread is relevant to my interests. Thanks for all the helpful info.
by Hub
Mon Nov 07, 2016 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: What 529 plan are TX residents using?
Replies: 46
Views: 2983

Re: What 529 plan are TX residents using?

I don't use one. Potential tax savings on this don't really motivate me to mess with it since it's only on gains. Would rather just have it in my own taxable account.
by Hub
Fri Nov 04, 2016 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: HSA contribution max per pay period
Replies: 23
Views: 2950

Re: HSA contribution max per pay period

My wife's employer had the monthly contribution maxed at the annual maximum divided by 12 no matter what month you started contributing to it. Particularly annoying.
by Hub
Fri Nov 04, 2016 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA vs Dependent Care Tax Credit?
Replies: 14
Views: 1576

Re: Dependent Care FSA vs Dependent Care Tax Credit?

Excellent point regarding the phase-out range of AGI. I hadn't considered that, but it could affect me also.
by Hub
Thu Nov 03, 2016 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA vs Dependent Care Tax Credit?
Replies: 14
Views: 1576

Re: Dependent Care FSA vs Dependent Care Tax Credit?

mikep wrote:
The credit caps at $3000, where the FSA is $5000, so you have to include that in your comparison.
6k cap for 2+ kids.
by Hub
Thu Nov 03, 2016 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent Care FSA vs Dependent Care Tax Credit?
Replies: 14
Views: 1576

Re: Dependent Care FSA vs Dependent Care Tax Credit?

Thank you everyone!! I totally misunderstood it. Time to max out the FSA! I'm suprised more people don't max it out. It's such a sweet deal! I chose not to when I was in the 15% marginal tax bracket with 2 kids. Just wasn't worth the extra hassle for what I think amounted to about a 2.65% advantage...
by Hub
Wed Oct 26, 2016 11:54 am
Forum: Personal Finance (Not Investing)
Topic: What would you do? Payoff...
Replies: 12
Views: 1606

Re: What would you do? Payoff...

Are you maxing out your 401k this year? You could adjust your paycheck to get that done by the end of the year while using this money to cover the monthly shortage that may cause. I agree that you want an emergency fund more like $20k than $5k. Maybe you just put a bunch in taxable investments plann...
by Hub
Wed Oct 26, 2016 11:48 am
Forum: Personal Finance (Not Investing)
Topic: 2017 ACA plan previews
Replies: 172
Views: 14747

Re: 2017 ACA plan previews

While companies seem to have heavily shifted toward HDHPs, the ACA exchange has fewer HDHP options for me than "normal" plans and fewer than a year ago.
by Hub
Wed Oct 26, 2016 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Count pension as a form of retirement savings.
Replies: 56
Views: 6782

Re: Count pension as a form of retirement savings.

For my wife's pension: While she contributed (6.75%) I counted that as part of our savings rate. Now that she is separated from employment I count the cash value of the pension as part of our portfolio. I do not include it in my asset allocation at all. Some day I'll either liquidate it or receive i...
by Hub
Wed Oct 26, 2016 10:19 am
Forum: Personal Finance (Not Investing)
Topic: 2017 ACA plan previews
Replies: 172
Views: 14747

Re: 2017 ACA plan previews

RE: Provider networks - I have a number of clients in Houston. None of the plans available on the individual market allow access to Texas Children's Hospital, MD Anderson, or Houston Methodist, which are the three major hospitals in the city. I am seeing this more and more every year. The networks ...
by Hub
Tue Oct 04, 2016 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: What you guys do with the bonus
Replies: 59
Views: 6261

Re: What you guys do with the bonus

Mine doesn't have a particular designation; it's just like a regular month where I get paid more. This means it goes to my excess cash account which gets invested periodically in taxable when it gets big enough.
by Hub
Mon Sep 12, 2016 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Banks not honoring bank bonuses on time
Replies: 30
Views: 2868

Re: Banks not honoring bank bonuses on time

Interesting thread. I've only ever done the Chase checking account bonuses ($300 for 6 months) and they paid immediately at the promised date. Though it was mildly annoying to have to keep track of.