Search found 1208 matches

by J295
Mon Dec 11, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Done gone and did it
Replies: 41
Views: 2172

Re: Done gone and did it

OP ....fantastic!
by J295
Mon Dec 11, 2017 2:04 pm
Forum: Investing - Help with Personal Investments
Topic: What cause BH fear about running out of saving though they have big size of asset?
Replies: 27
Views: 1212

Re: What cause BH fear about running out of saving though they have big size of asset?

No worries here. FI now and retired, and admit the future is unknown

Phillipians 4:12 for us
by J295
Sat Dec 09, 2017 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: Need to invest adult siblings trust money
Replies: 23
Views: 1443

Re: Need to invest adult siblings trust money

Good for you helping out

Tough situation.
by J295
Sat Dec 09, 2017 8:58 pm
Forum: Investing - Help with Personal Investments
Topic: Need to invest adult siblings trust money
Replies: 23
Views: 1443

Re: Need to invest adult siblings trust money

Amanda. .... did you see my question ? Be aware that service as a fiduciary such as trustee has legal requirements. I have seen member beneficiaries sue family member trustees for breach of trust. Two areas of concern at this point .... a. Your inexperience b. Costs to administer these relatively mo...
by J295
Sat Dec 09, 2017 8:08 pm
Forum: Investing - Help with Personal Investments
Topic: Need to invest adult siblings trust money
Replies: 23
Views: 1443

Re: Need to invest adult siblings trust money

I would like more info .... for starters, why did your parents choose to place the money in trust rather than give it outright to these two adults? And, are these the only assets these two children received?
by J295
Sat Dec 09, 2017 2:26 pm
Forum: Personal Consumer Issues
Topic: Password Protection
Replies: 83
Views: 6200

Re: Password Protection

1Password
by J295
Sat Dec 09, 2017 2:18 pm
Forum: Personal Consumer Issues
Topic: Espresso Machine suggestions?
Replies: 34
Views: 1696

Re: Espresso Machine suggestions?

We love the Silvia Rancilio. Probably around $1000. I think the key though it’s getting something from a local shop that can troubleshoot and repair for you. After about seven years we had an issue with ours. We took it into the owners of the local coffee shop where we bought it, and they turned it ...
by J295
Sat Dec 09, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Pay taxes on free food?
Replies: 28
Views: 2670

Re: Pay taxes on free food?

I haven’t researched, so I’m sorry for just spouting off here without giving you authority, but the definition under section 61 of the Internal Revenue Code seems not applicable here. Moreover, if it were in fact income, then your office would be receiving a 1099. Can you imagine if this were income...
by J295
Sat Dec 09, 2017 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: Save all this money, what do you splurge on?
Replies: 140
Views: 8846

Re: Save all this money, what do you splurge on?

Golf ... private club, coaching, tournaments Family .. travel expenses to come home for holidays, attend baptisms, etc. Set up a separate company for each child (for their own choice of “ side hustle”, real estate, etc ) and provided a match on their capital contribution and some personal equity inv...
by J295
Thu Dec 07, 2017 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Executor responsibilities
Replies: 44
Views: 2789

Re: Executor responsibilities

I'm not familiar with your state, but in our state there would be a state inheritance tax return (and payment) required. Final state and federal income tax returns also generally required.
by J295
Thu Dec 07, 2017 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Re-inventing career in mid 30s? Law? Tech? Sales?
Replies: 18
Views: 2174

Re: Re-inventing career in mid 30s? Law? Tech? Sales?

Let me just say .... It's not too late .... you get one show and you're the star .... dig in and go for it, whatever it may be .....
by J295
Thu Dec 07, 2017 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: CPA: The best profession if you want to make the most money + keep the most money?
Replies: 53
Views: 5188

Re: CPA: The best profession if you want to make the most money + keep the most money?

If your skills and temperament allow it, owning your own business is IMO a way to become quite wealthy (no guarantee of course, but it can lead to substantial wealth for some). I am a retired lawyer, and like most other professions that have a high hourly compensation component made a quite satisfac...
by J295
Wed Dec 06, 2017 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: How do you know you are FI? [Financially Independent]
Replies: 48
Views: 3747

Re: How do you know you are FI?

We tracked expenses for five years, then extrapolated to what we would need in retirement. And taking into account our age when we had at least a certain multiple of expenses and fire calc and other programs showed high probability of success, redeemed ourselves FI. Our backstop is we didn’t include...
by J295
Wed Dec 06, 2017 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Side Hustle Taxes
Replies: 17
Views: 1939

Re: Side Hustle Taxes

You can get EIN online FYI and won’t need to form a corporation or LLC to get one. Solo 491k is great in our experience. Make sure you have insurance coverage. While you probably correctly understand that photography is not a business that creates much liability exposure, think about taking a high s...
by J295
Wed Dec 06, 2017 4:54 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity charges to close accounts!
Replies: 54
Views: 19665

Re: Fidelity charges to close accounts!

IMO, those who leave a dollar or similar to “show them” are spiteful and childish. Moreover it has no material impact.
by J295
Tue Dec 05, 2017 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Lowering real estate agent costs when selling?
Replies: 34
Views: 2568

Re: Lowering real estate agent costs when selling?

In our location, when a seller‘s agent puts the house on MLS it states the percentage payment that will go to the buyers agent. The percentage is determined solely by the listing agent.
by J295
Tue Dec 05, 2017 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Lowering real estate agent costs when selling?
Replies: 34
Views: 2568

Re: Lowering real estate agent costs when selling?

OP .... irrespective of the cost, do you believe you need a real estate agent to effectively sell your home?
by J295
Mon Dec 04, 2017 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Self Emp Health Ins Deduction and ACA PTC
Replies: 1
Views: 172

Self Emp Health Ins Deduction and ACA PTC

I will try and run this on turbo tax, but in advance of that wondering if anyone has encountered the following (using round numbers for a hypothetical for next year): The cliff for our MAGI is $65k We have various income sources, including self employment ACA coverage premium cost would typically be...
by J295
Sun Dec 03, 2017 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance when assets mainly in trusts
Replies: 34
Views: 1627

Re: Umbrella insurance when assets mainly in trusts

It's not the cost of the question and premium that I'd compare in making this decision. It's the "cost" of making the wrong decision that would have my attention. Physician and attorney .... generally litigious society ..... let's say the trust assets are "safe" (meaning essentially that they will n...
by J295
Fri Dec 01, 2017 4:18 pm
Forum: Investing - Help with Personal Investments
Topic: Should I include cash set aside for home purchase when computing asset allocation
Replies: 20
Views: 722

Re: Should I include cash set aside for home purchase when computing asset allocation

I don’t include our paid for house for any of her other paid for items as part of our asset allocation. Since these funds are the equivalent of your to be constructed home, I would exclude them from your allocation
by J295
Thu Nov 30, 2017 7:39 pm
Forum: Personal Consumer Issues
Topic: housing for in-laws
Replies: 48
Views: 3474

Re: housing for in-laws

Number 3
by J295
Thu Nov 30, 2017 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Number Asked for use of POA by Credit Card Company
Replies: 14
Views: 1244

Re: Social Security Number Asked for use of POA by Credit Card Company

My Social security number must be in hundreds of different places by now… If a credit card company wanted it and I was doing something for my parents I would give it to them and not spend another second bothering with it
by J295
Wed Nov 29, 2017 7:07 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7065

Re: Does it make sense to drop health insurance?

To answer your question… To me does not make sense to go without insurance under the current situation. Of course, you are free to assume the risk and it will probably work out fine for a while… Until it doesn’t, as the saying goes One option you might consider is reducing your consulting income so ...
by J295
Tue Nov 28, 2017 7:46 pm
Forum: Personal Consumer Issues
Topic: After financial independence, do you lose motivation for work?
Replies: 156
Views: 11001

Re: After financial independence, do you lose motivation for work?

The principal reason I worked was to provide for my family. We reached financial independence in early 50s. Motivation to work gradually declined. On the other hand, my wife started working and she absolutely loves it.

I have plenty of other motivators other than work.
by J295
Tue Nov 28, 2017 7:29 pm
Forum: Personal Consumer Issues
Topic: 2018 Goals - Financial or Otherwise
Replies: 63
Views: 4634

Re: 2018 Goals - Financial or Otherwise

Play at least 20 competitive golf rounds.
by J295
Mon Nov 27, 2017 10:46 pm
Forum: Personal Consumer Issues
Topic: Etiquette question: going out to dinner with friends and how to split the bill
Replies: 86
Views: 5246

Re: Etiquette question: going out to dinner with friends and how to split the bill

Depends on the group .... with business co-owners and spouses we always split no matter who gets what (I don't drink and others have expensive wine tastes .. we say so what in this context because we are co-owners and this is small potatoes in the big picture of various financial things we've dealt ...
by J295
Mon Nov 27, 2017 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Forming an LLC without an attorney
Replies: 24
Views: 2497

Re: Forming an LLC without an attorney

Curious as to why people consider forming an LLC in the state where the property is located? Why not form in your home state and have that entity own the property? For those forming an LLC and transferring the property into the LLC, do you get written confirmation or an endorsement that your title i...
by J295
Sat Nov 25, 2017 4:59 pm
Forum: Investing - Theory, News & General
Topic: Dropping Term Life Insurance When Hitting Your Number
Replies: 30
Views: 3396

Re: Dropping Term Life Insurance When Hitting Your Number

Similar situation here .... My spouse won't need the extra term death benefits if I pass in the next couple of years while my 20 year level term reaches the end of the low premium phase. However, I'd like her/the family to have the extra $$ if I do pass (we are retired 57/58). So we pay the premium ...
by J295
Sat Nov 25, 2017 12:14 am
Forum: Investing - Help with Personal Investments
Topic: Anyone tired of the stock market going up?
Replies: 213
Views: 15954

Re: Anyone tired of the stock market going up?

Market goes up… I think it’s fun.

I like to say make hay when the sun shines

If I’m golfing and have three birdies, I don’t think Oh my gosh I’m stressed, instead I say let’s make four, five, or six.

There’s plenty of time later for market declines and double bogeys…
by J295
Thu Nov 23, 2017 9:53 pm
Forum: Investing - Help with Personal Investments
Topic: Do you include the sale of your home as part of your retirement planning?
Replies: 91
Views: 5022

Re: Do you include the sale of your home as part of your retirement planning?

No. We plan to leave an inheritance, and the home and its proceeds are just part of that anticipated inheritance. In our case, our home is less than 20% of net worth.
by J295
Thu Nov 23, 2017 9:45 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds v. Mortgage Payoff
Replies: 21
Views: 2057

Re: Bonds v. Mortgage Payoff

Quite a few other posts on this very topic. Personally, I do not consider the home we own free and clear has a bond in making our asset allocation. Others do consider that part of their asset allocation, and still others consider Social Security part of their bond type allocation (we don’t). I think...
by J295
Thu Nov 23, 2017 9:38 pm
Forum: Personal Consumer Issues
Topic: Making collegebound Kid Financially Savvy Questions..
Replies: 49
Views: 2983

Re: Making collegebound Kid Financially Savvy Questions..

Every family, every person, of course is different. I’m a big believer that in parenting one size does not fit everyone.
by J295
Thu Nov 23, 2017 9:10 pm
Forum: Investing - Theory, News & General
Topic: Why does everyone keep increasing their international stock %?
Replies: 101
Views: 8763

Re: Why does everyone keep increasing their international stock %?

My recollection is that in the last couple of years there were quite a few posts advocating against international allocations, because international had been underperforming US only. Now that International has strengthened, it seems there is the rather predictable new push for more international all...
by J295
Wed Nov 22, 2017 12:54 am
Forum: Investing - Help with Personal Investments
Topic: Advice to become wealthy
Replies: 58
Views: 5266

Re: Advice to become wealthy

Own your business.
by J295
Tue Nov 21, 2017 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: Should I decline Grand Prize trip because of taxes on winnings?
Replies: 93
Views: 8523

Re: Should I decline Grand Prize trip because of taxes on winnings?

Let’s say someone offered to sell me something I didn’t want for half price, would I buy it? No. What if in addition to that they told me it was a really neat thing in this unique hBobby area that very few other people could have, but I didn’t care for the hobby area, would that change my mind so th...
by J295
Tue Nov 21, 2017 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Selling Farm Land - What next?
Replies: 11
Views: 879

Re: Selling Farm Land - What next?

1031 is straightforward with a capable tax advisor.
by J295
Mon Nov 20, 2017 10:38 pm
Forum: Personal Consumer Issues
Topic: What are the things you want to do between 55 and 65?
Replies: 140
Views: 10436

Re: What are the things you want to do between 55 and 65?

In no order (57 and retired)
Play competitive and recreational golf
Spend more time with parents
Relocate temporarily from time to time to see more of kids and grandkids
Radically embrace the spiritual life
Say yes to random opportunities
by J295
Mon Nov 20, 2017 6:51 pm
Forum: Personal Consumer Issues
Topic: Uber for someone who knows only taxis
Replies: 93
Views: 5763

Re: Uber for someone who knows only taxis

Use Uber and Lyft a lot. Never a problem. Very reliable. As it happens, I like to read when riding somewhere. So, when the driver arrives I introduce myself and explain that I hope they have a great day and my practice is to read while riding so they don't need to feel obligated to entertain me (the...
by J295
Sun Nov 19, 2017 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Why I am not happy even with OK Net Asset
Replies: 38
Views: 3719

Re: Why I am not happy even with OK Net Asset

We are FI now ... we will probably remain that way, but the future isn't guaranteed ..... We were content before FI, and remain even more so now (honestly, for us it is easier to be FI than not). Part of our short IPS ... Philippians 4:12 (and if Christianity is not your faith tradition, or you have...
by J295
Fri Nov 17, 2017 11:13 am
Forum: Personal Consumer Issues
Topic: United change fees
Replies: 28
Views: 1926

Re: United change fees

One other thing for travelers to keep in mind for the future… If you don’t have status to make changes, book 2 one-way tickets rather than a round-trip. That way if you can’t make the flight out you only burn that flight, and not the other flight. FWIW A few months ago we ended up not using flights ...
by J295
Thu Nov 16, 2017 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: RE sale: long close vs. bird-in-hand
Replies: 28
Views: 1997

Re: RE sale: long close vs. bird-in-hand

Personally, I'd try and negotiate something better with Option A (as has been noted), and failing success there go with a quick close with Option B. You sound comfortable taking on the various risks associated with A in return for the premium. I have no problem with that for you going in with your e...
by J295
Tue Nov 14, 2017 7:50 am
Forum: Investing - Help with Personal Investments
Topic: Is it worth starting investing if 7-8 years from retirement?
Replies: 22
Views: 2554

Re: Is it worth starting investing if 7-8 years from retirement?

No comment on how it should be invested, but whether it should be invested… Reminds me of the saying… when’s the best time to plant a tree? Answer: 20 years ago. Second best time: today.
by J295
Mon Nov 13, 2017 6:53 pm
Forum: Personal Consumer Issues
Topic: Techies Please Help .....Making Video with iPhone 7
Replies: 2
Views: 263

Techies Please Help .....Making Video with iPhone 7

We'd like to create a video for daughter and fiance. It will be principally photos set to music. I've seen these at lots of weddings, graduations and funerals (typically professionally done). Can this be done with the phone (we don't have apple computers --have PCs), or is there a better to use our ...
by J295
Mon Nov 13, 2017 6:42 pm
Forum: Personal Consumer Issues
Topic: Tipping in living wage state. Redux.
Replies: 118
Views: 6912

Re: Tipping in living wage state. Redux.

Slacker » Mon Nov 13, 2017 5:33 pm Thank you for this information. I am typically a "big" tipper, in part because of the low wages. Next time I am in California or Washington, I will certainly be modifying my tipping behavior to leave a smaller tip (5-10% sounds like a good start). In our LCOL area...
by J295
Mon Nov 13, 2017 6:17 pm
Forum: Personal Consumer Issues
Topic: Tipping in living wage state. Redux.
Replies: 118
Views: 6912

Re: Tipping in living wage state. Redux.

Tip the same as you always have. Prediction: this will be like all the other tipping threads. Those that tip well will continue to do so. Those that don’t will state the reasons why they don’t and maybe add a living wage to their arsenal of arguments, and they will likewise maintain their same behav...