Search found 393 matches

by Hub
Wed Jun 20, 2018 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Why pay cash for a car?
Replies: 250
Views: 32902

Re: Why pay cash for a car?

Interesting perspective. I guess it depends on how much cash you have! Our cash on hand tends to be some sort of emergency fund slash to-be-invested money that fluctuates between $30k and $60k just depending on when we push in for annual big ticket things like solo401k, roths, HSA, property taxes, e...
by Hub
Wed Jun 20, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Why pay cash for a car?
Replies: 250
Views: 32902

Re: Why pay cash for a car?

One thing to watch out for is that I have found when paying cash for a car is that I tend to buy less expensive cars and to keep my prior car a bit longer. I don't often write five figure checks so when I do adding a few thousand dollars to get the next higher trim level is a lot harder than having...
by Hub
Tue Jun 12, 2018 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Are you including SS in your planning model? Are the benefits really that high?
Replies: 148
Views: 12624

Re: Are you including SS in your planning model? Are the benefits really that high?

I include mine in future cash flow projections and I fully expect it to remain a significant amount of money in 20-30 years when I start taking it. That said my goals are to get to a spot financially to where a very early retirement is an option and I do not factor social security into the lump I ne...
by Hub
Wed Apr 25, 2018 11:13 am
Forum: Personal Finance (Not Investing)
Topic: How to be a good executor to family
Replies: 44
Views: 4025

Re: How to be a good executor to family

I think a high percent of us BH's will be executors due to our nature. I expect to be one for my parents and for my wife to be one for hers. Thank you for this informative thread. I've watched my parents be executors on their parents and brothers' estates and nothing contentious occurred. The one of...
by Hub
Mon Mar 19, 2018 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 246
Views: 35060

Re: Those with high savings rate: why?

Freedom, options, choices. I want to be able to do what I want to do each day I wake up as soon as possible. We save 50% or more, but spending continues to rise. Fighting off lifestyle creep as our kids age and we continue to earn more is tough. I can only image what our peers that aren't trying to ...
by Hub
Mon Mar 12, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Interesting interactive guide to early retirement & FI
Replies: 29
Views: 4497

Re: Interesting interactive guide to early retirement & FI

Thanks for posting this. Great layout and presentation without being much trouble to get the numbers into. Especially for those of us that have them all ready to go in a spreadsheet for such an occasion. :)
by Hub
Mon Feb 26, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k Tax documents
Replies: 6
Views: 679

Re: Solo 401k Tax documents

Spirit Rider, I really appreciate your contributions on tax threads like this. You are a great help to me and I'm sure others.
by Hub
Tue Feb 20, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Cut down on retirement savings to build emergency fund
Replies: 20
Views: 1610

Re: Cut down on retirement savings to build emergency fund

I would use a credit card or HELOC to fund a temporary emergency cash need before I would lose Roth contribution space or pull out of one. Assuming that I had positive cash flow and the ability to tighten up on expenses for a few months to get back out of the hole. And let's be honest, what emergenc...
by Hub
Mon Feb 05, 2018 2:11 pm
Forum: Investing - Theory, News & General
Topic: The RBD (Really Bad Days) database
Replies: 33
Views: 5238

Re: The RBD (Really Bad Days) database

I bought $10k of a small cap value etf today down 4.50% over the past 5 days with cash I had been meaning to get invested into the market. Nothing crazy, but it was the nudge I needed.
by Hub
Mon Feb 05, 2018 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Selling Stock within UTMA
Replies: 6
Views: 833

Re: Selling Stock within UTMA

Thanks for the info here. I was about to set my child's UTMA to auto-invest monthly into a small cap value fund, but I don't feel great about creating 12 tax lots per year.
by Hub
Mon Jan 22, 2018 3:40 pm
Forum: Investing - Theory, News & General
Topic: Lower tax rates for 7 yrs.-Are you switching to Roth 401K
Replies: 65
Views: 6817

Re: Lower tax rates for 7 yrs.-Are you switching to Roth 401K

There isn't a fundamental change in tactics here: try to drop into the lowest brackets and then start utilizing Roth. Now it's easier to drop into the lowest bracket due the higher standard deduction. That 12% band is pretty wide: MFJ 12% tops at $77,400 with a $24,000 standard deduction. The 12% b...
by Hub
Mon Jan 22, 2018 11:04 am
Forum: Investing - Theory, News & General
Topic: "The Pain of Discipline or the Pain of Regret?"
Replies: 33
Views: 4296

Re: "The Pain of Discipline or the Pain of Regret?"

That's funny that people see the rise of stocks as a reason to buy them. I find it much harder stay invested in stocks now, when they are flying high, then after they have crashed and are cheap. I am staying the course, but this overpriced market is testing me. :greedy This is my brain also. I've b...
by Hub
Tue Jan 16, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Best High Interest Banking Accounts (With Bill Pay): (Checking/Savings/MMA?)
Replies: 8
Views: 1187

Re: Best High Interest Banking Accounts (With Bill Pay): (Checking/Savings/MMA?)

I've seen one at 3.51% on your 1st $30k, but requires 20 or 30 debit card transactions. Thanks for these suggestions that allow money to just sit.
by Hub
Tue Jan 16, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Friend Got Laid Off - Advice Needed
Replies: 46
Views: 6045

Re: Friend Got Laid Off - Advice Needed

Your friend has done a wonderful job saving and is basically a millionaire by 40. Between that and his trade I would say he has a wide array of options in front of him. Even if that means doing something a bit different than his current niche of expertise. I would say to him be proud that you've pre...
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: 8613

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: 3380

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: 4106

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: 10120

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: 3066

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: 11628

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: 2159

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: 3153

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: 6340

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: 11628

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: 6006

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: 701
Views: 112606

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: 4379

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: 11162

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: 14885

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: 50844

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: 1585

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: 24396

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: 1633

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: 602

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: 761

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: 3344

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: 761

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: 761

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: 4244

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: 4527

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: 10655

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, Box 12), ...
by Hub
Tue Jan 10, 2017 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: How Severe is an HSA Audit?
Replies: 29
Views: 10655

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: 18306

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: 1752

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: 7249

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: 2976

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: 13084

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: 2454

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: 1633

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...