Search found 3080 matches

by JBTX
Sat May 19, 2018 5:13 pm
Forum: Personal Consumer Issues
Topic: Moving to Texas - [Request for clothes, car window tint] recommendations
Replies: 35
Views: 1984

Re: Moving to Texas - [Request for clothes, car window tint] recommendations

Live in DFW area 20+ years. Clothes: in business casual environments usually just chinos or docker type pants plus either button down or polo style shirt depending on environment. Most places are heavily A/C’d. Car Tinting: definitely. Makes a big difference. I usually just use who dealer recommends...
by JBTX
Sat May 19, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: What’s your phone/internet bill?
Replies: 71
Views: 3844

Re: What’s your phone/internet bill?

Charter Spectrum internet and phone $80 per month. Just internet would be $65.

ATT wireless unlimited everything - 4 lines and direct Tv with premium channels bundle about $300 per month.
by JBTX
Fri May 18, 2018 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need a trust?
Replies: 12
Views: 1517

Re: Do we need a trust?

As to special needs, I’d definitely coordinate that with parents. An unexpected gift could blow up govt benefit eligibility. A special needs trust would be ideal. A 529 able is good too but can only put in $15000
Per year and $100k max.
by JBTX
Fri May 18, 2018 5:34 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2584
Views: 492362

Re: What's Your Credit Card Rewards Strategy?

Funny thing happened with Chase Ink Business card. I applied a few months ago and was turned down due to 5/24. But recently we received an invitation in the mail for a chase business ink card addressed to a Business name that was actually just a website that my daughter had set up and subsequently c...
by JBTX
Fri May 18, 2018 5:10 pm
Forum: Investing - Help with Personal Investments
Topic: Taking advantage of 0% tax rate on capital gains
Replies: 18
Views: 1845

Re: Taking advantage of 0% tax rate on capital gains

If it is a brokerage account, why not sell the mutual fund and immediately buy the comparable ETF? Does anybody know if that is allowed in their policies? This is for gains so I don’t think 30 day tax wash sale rules apply
by JBTX
Fri May 18, 2018 12:49 pm
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

Different but related question to anybody with any experience on the issue: I understand whole life is typically a terrible way to accumulate wealth. However, in some ways there may be a benefit in setting up a policy with a guaranteed return to back a Non Qualified future payment to select Keyman e...
by JBTX
Fri May 18, 2018 8:56 am
Forum: Personal Consumer Issues
Topic: Netflix, Your Current Favorite Show
Replies: 607
Views: 68321

Re: Netflix, Your Current Favorite Show

I binged this last weekend, it's my favorite show. If you are interested, Amazon Music has a World of Bosch playlist that has all the great jazz music from the series. I believe there is one on Spotify as well. Perhaps to be enjoyed with a Fat Tire. (I can't remember whether Bosch drinks Fat Tire i...
by JBTX
Fri May 18, 2018 8:29 am
Forum: Investing - Help with Personal Investments
Topic: Long term investment in grains/wheat
Replies: 22
Views: 1275

Re: Long term investment in grains/wheat

Need to be careful when investing in perishable and consumable commodities. Often short traders tend to eat the lunch of long term futures holders who are forced to liquidate their positions. Look up contango. http://www.etf.com/etf-education-center/why-you-cant-buy-spot-oil-guide-contango-backwarda...
by JBTX
Fri May 18, 2018 8:07 am
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

Things can happen over 20 years. New competitors enter, merge, die off. Technology changes industries. There is no garuntee on future profits. What if one of these key employee dies, or gets a "fabulous" offer,obtains an inheritance of 10 million, or hits their number and retires. Then your friend ...
by JBTX
Thu May 17, 2018 10:09 pm
Forum: Investing - Help with Personal Investments
Topic: Fellow non-529ers
Replies: 43
Views: 2828

Re: Fellow non-529ers

OP isn't getting much support on this... For the 529 fans, consider my kids. Both went to college for a couple quarters/semesters and then stopped for a while. One eventually went back and completed a degree. The other joined the army, served a tour in Afghanistan, left the army and used the GI bil...
by JBTX
Thu May 17, 2018 7:13 pm
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

Why would owner sell for a multiple of 5 when he can hold on to it for 20 more years with little Involvement? Are you talking about a bonus/ps plan inside of a qualified retirement plan or just straight up Additional compensation? How does a bonus plan that pays out now incent an employee to stick ...
by JBTX
Thu May 17, 2018 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: Employ a daughter who in turn volunteers?
Replies: 18
Views: 1252

Re: Employ a daughter who in turn volunteers?

I agree with another comment though, there may not be much benefit in doing this You are going to pay 7.65% and she will pay 7.65% fica and Medicare. I don’t know if she will make enough to pay income tax. It may make more sense to give her the money and future capital gains would be zero or 15% for...
by JBTX
Thu May 17, 2018 5:26 pm
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

One more question: it seems like what I am seeing elsewhere is the profit sharing is in addition to the employer match, not instead of it. https://www.employeefiduciary.com/blog/new-comparability-401k-plans-are-they-right-for-your-small-business That is not correct. There is not even any mention of...
by JBTX
Thu May 17, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Employ a daughter who in turn volunteers?
Replies: 18
Views: 1252

Re: Employ a daughter who in turn volunteers?

There is some precedent for paying employees to volunteer https://workology.com/the-benefits-of-paying-employees-to-volunteer/ https://www.google.com/amp/s/www.forbes.com/sites/robdube/2017/12/07/why-paying-employees-to-volunteer-is-good-for-business/amp/ I’d talk to accountant or attorney knowledge...
by JBTX
Thu May 17, 2018 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Employ a daughter who in turn volunteers?
Replies: 18
Views: 1252

Re: Employ a daughter who in turn volunteers?

Not only does that not sound Kosher, I’m not sure paying your daughter 1099 is legit. Also, if she is an adult you may be involving her in tax fraud as well as yourself. Do you have your own practice? Why not pay her as an employee? She could do some limited work on the side, and volunteer also. Tal...
by JBTX
Thu May 17, 2018 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Mortgage decision killing me
Replies: 52
Views: 5788

Re: Mortgage decision killing me

Mortgage: 850k ..... Savings: 1.4 mil in a brokerage account (not planning on touching this) The limit on the mortgage interest deduction is only $750K now. If you are able to deduct the mortgage interest then I would come up with a larger down payment to get down to the $750k limit. Agree with thi...
by JBTX
Thu May 17, 2018 8:18 am
Forum: Investing - Help with Personal Investments
Topic: Friend says "Stock market will crash, invest in silver" - thoughts?
Replies: 127
Views: 7500

Re: Friend says "Stock market will crash, invest in silver" - thoughts?

Noob question :-) A highly respected friend of mine is an expert in macroeconomics, and warned me to stay away from stocks. He said that come October or March next year, there are likely to be big crashes. He said companies were artificially inflating their stocks. (I don't understand the detail!) ...
by JBTX
Wed May 16, 2018 7:49 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 369
Views: 16337

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

So my question is this, does this "rule" saying people will be in a lower tax bracket in retirement actually lead to misleading advise? For most people this is not misleading advice. Granted I'm still going with the Roth IRA and pretax 401k but I wonder if the traditional advise is correct for myse...
by JBTX
Wed May 16, 2018 2:42 pm
Forum: Investing - Help with Personal Investments
Topic: What's the Safest Easiest Way to Terminate an Old KEOGH at Fidelity
Replies: 10
Views: 312

Re: What's the Safest Easiest Way to Terminate an Old KEOGH at Fidelity

10+ Years ago I had a couple of Keogh plans at Fidelity. I eventually just rolled the balances over to a rollover IRA and ultimately closed the accounts/ plan. Off hand I don’t recall specifically what I did to close it. I just followed instructions of the fidelity retirement specialist, for better ...
by JBTX
Wed May 16, 2018 12:56 pm
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

I guess what puzzles me about this is beyond Boglehead world, I would think non deductible 401k contributions would be rare. I have read numerous threads in this forum about posters doing mega backdoor Roths. My assumption would be that some, perhaps most, are HCEs. I would think most of them would...
by JBTX
Wed May 16, 2018 11:30 am
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

Thanks again. This is really helpful. I’m always amazed the knowledge you have in this area.
by JBTX
Wed May 16, 2018 10:27 am
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

Cash balance plan: Is a defined benefit plan that defines the promised benefit in terms of a stated account balance. This will have a lot of staff costs. What do you mean by staff costs? The employer contributions for all employees [*]Mega Backdoor Roth 401k: Is subject to Actual Contribution Perce...
by JBTX
Wed May 16, 2018 7:01 am
Forum: Personal Consumer Issues
Topic: Free skin cancer screenings
Replies: 26
Views: 2205

Re: Free skin cancer screenings

Keep in mind that many (most?) medical societies do not recommend routine skin cancer screening as their benefit:harm ratio has not been consistently proven favorable. Is this the ignorance is bliss approach? So people shouldn’t ask a professional to take a look. People actually die because they pu...
by JBTX
Wed May 16, 2018 1:54 am
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

Why would owner sell for a multiple of 5 when he can hold on to it for 20 more years with little Involvement? Are you talking about a bonus/ps plan inside of a qualified retirement plan or just straight up Additional compensation? How does a bonus plan that pays out now incent an employee to stick ...
by JBTX
Wed May 16, 2018 1:45 am
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

At this point, the business mostly runs itself without the owner. So for now the plan is for him to keep the business indefinitely - its spits out nice cash flow with little involvement. Why sell it? it is unlikely it would sell for the value of its future cash flows. Why wouldn't a business sell f...
by JBTX
Wed May 16, 2018 1:02 am
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

At this point, the business mostly runs itself without the owner. So for now the plan is for him to keep the business indefinitely - its spits out nice cash flow with little involvement. Why sell it? it is unlikely it would sell for the value of its future cash flows. Why wouldn't a business sell f...
by JBTX
Wed May 16, 2018 12:17 am
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

Whole Life: This is never an efficient way to build wealth. Safe Harbor 401k: With the minimum 100%/3% and 50%/2% match would allow someone with the maximum plan compensation (2018 = $275K) to receive an $11K match. So for 2018 that would be $18.5K + $11K = $39.5K. At age 50, that will increase by ...
by JBTX
Tue May 15, 2018 9:50 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 30431

Re: KF's simple rules to achieve FI [Financial Independence]

It is just personal philosophy, but I don't get why people hate work so much. I don't know that I've ever loved my job, but compared to not working, I'd rather work, stay stimulated, and make some money. Not working to me gets boring, and most things that I would find stimulating cost money, which ...
by JBTX
Tue May 15, 2018 7:11 pm
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Re: Small Business Owner - how to build retirement wealth

So your talking about 4 million give or take over 20 years. That doesn't require any fancy moves does it if one is making enough income to be at the highest tax bracket? All that it requires is the same boglehead style investing approach. The big elephant in the room that needs to be figured out is...
by JBTX
Tue May 15, 2018 6:58 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 30431

Re: KF's simple rules to achieve FI [Financial Independence]

It is just personal philosophy, but I don't get why people hate work so much. I don't know that I've ever loved my job, but compared to not working, I'd rather work, stay stimulated, and make some money. Not working to me gets boring, and most things that I would find stimulating cost money, which ...
by JBTX
Tue May 15, 2018 3:00 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 30431

Re: KF's simple rules to achieve FI [Financial Independence]

It is just personal philosophy, but I don't get why people hate work so much. I don't know that I've ever loved my job, but compared to not working, I'd rather work, stay stimulated, and make some money. Not working to me gets boring, and most things that I would find stimulating cost money, which ...
by JBTX
Tue May 15, 2018 2:58 pm
Forum: Investing - Help with Personal Investments
Topic: Small Business Owner - how to build retirement wealth
Replies: 25
Views: 1927

Small Business Owner - how to build retirement wealth

As a piggy back to this: https://www.bogleheads.org/forum/viewtopic.php?f=1&t=246289 I know a small business owner, early 40's, 25ish employees, doing well, top income tax bracket (S Corp). Business is doing great but hasn't built up much retirement assets. Goals are twofold: 1. Build up some retire...
by JBTX
Tue May 15, 2018 2:26 pm
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 30431

Re: KF's simple rules to achieve FI [Financial Independence]

1) A hypothetical Manhattan resident making $100k has an upper middle class income--period. Certainly they aren't rich though (see below). Perhaps in their zip code they are not in that top 25% in income, but their zip code amounts to about 10 city blocks. They've simply chosen to spend most of the...
by JBTX
Tue May 15, 2018 11:15 am
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 30431

Re: KF's simple rules to achieve FI [Financial Independence]

1) A hypothetical Manhattan resident making $100k has an upper middle class income--period. Certainly they aren't rich though (see below). Perhaps in their zip code they are not in that top 25% in income, but their zip code amounts to about 10 city blocks. They've simply chosen to spend most of the...
by JBTX
Tue May 15, 2018 10:47 am
Forum: Investing - Theory, News & General
Topic: KF's simple rules to achieve FI [Financial Independence]
Replies: 451
Views: 30431

Re: KF's simple rules to achieve FI [Financial Independence]

1) A hypothetical Manhattan resident making $100k has an upper middle class income--period. Certainly they aren't rich though (see below). Perhaps in their zip code they are not in that top 25% in income, but their zip code amounts to about 10 city blocks. They've simply chosen to spend most of the...
by JBTX
Tue May 15, 2018 10:42 am
Forum: Investing - Help with Personal Investments
Topic: How can I clear $40-60,000/yr with $1,000,000 cash... Low Risk?
Replies: 71
Views: 10355

Re: How can I clear $40-60,000/yr with $1,000,000 cash... Low Risk?

With a short term treasury bond ladder earning 2-3% and only taking out $40k per year how long would it last? Earning 0% it would last 25 years (and no income taxes). Add in 2% and it lasts much longer. Earning 3% it would last 47 years. Earning 2% it would last 35 years. Yes but you aren’t account...
by JBTX
Mon May 14, 2018 7:36 pm
Forum: Investing - Theory, News & General
Topic: Two- Factor Authentication at Vanguard - Update
Replies: 41
Views: 8229

Re: Two- Factor Authentication at Vanguard - Update

As to Quicken, I have both fidelity and vanguard, and I have 2 factor on both, and my quicken updates fine. It seems as if they have given them a backdoor (perhaps read only?) access that bypasses 2FA.
by JBTX
Mon May 14, 2018 7:20 pm
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 7430

Re: Can a <median household save 1 year of expenses every year?

If you made $50 then live off of $25k? For a family, you are getting close to a poverty level of expenses. Perhaps if your house was already paid for, and you live frugally in a LCOL area. I imagine some MMM types could do it. But they have a fairly extraordinarily frugal lifestyle. Perhaps some far...
by JBTX
Mon May 14, 2018 7:08 pm
Forum: Personal Consumer Issues
Topic: Stopping unwanted "junk" newspaper
Replies: 60
Views: 15148

Re: Stopping unwanted "junk" newspaper

This is the letter I sent: "In 2010 I complained to you about unwanted promotional newspapers in plastic bags being thrown on my property. It took three phone calls and a letter to get it to stop. All was fine until yesterday. Since then, two "free" copies of the Gazette in your plastic bags have b...
by JBTX
Mon May 14, 2018 6:52 pm
Forum: Personal Consumer Issues
Topic: Stopping unwanted "junk" newspaper
Replies: 60
Views: 15148

Re: Stopping unwanted "junk" newspaper

^Exactly what threat are you and ResearchMed trying to defend against? A bored teen who lives in your neighborhood? Many break-ins are opportunistic strikes. Seeing a couple of uncollected newspapers is an inducement, not a deterrent. A typical drug addict is not going to be sizing up the place ove...
by JBTX
Mon May 14, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Trusts and Special Needs
Replies: 13
Views: 774

Re: Qualified Trusts and Special Needs

... Maybe our only option is to include language in the SNT that handles IRA distributions differently from other property — so that the retirement distributions the trustee receives will be held separately and never pass to a charitable or elderly beneficiary? That's the most common approach. Each...
by JBTX
Mon May 14, 2018 6:28 pm
Forum: Investing - Help with Personal Investments
Topic: Should I decrease my international exposure?
Replies: 8
Views: 873

Re: Should I decrease my international exposure?

If you think the future will be exactly like the past, then by all means get rid of your international. In fact, if you think the future will be like the past put all your money in FANG stocks and zero coupon bonds.
by JBTX
Mon May 14, 2018 2:24 pm
Forum: Investing - Help with Personal Investments
Topic: Small company 401k plans
Replies: 40
Views: 2172

Re: Small company 401k plans

As a follow up I talked to Employee Fiduciary, Vanguard, and Guideline. I would be comfortable With any of them. But it isn’t my company. They haven’t made a decision but they will probably stick with the Edward Jones guy and go with a different plan, somewhat cheaper but still expensive, than John ...
by JBTX
Mon May 14, 2018 2:10 pm
Forum: Personal Consumer Issues
Topic: Rental Car : Paying Toll tax in Texas for a CA resident
Replies: 13
Views: 1156

Re: Rental Car : Paying Toll tax in Texas for a CA resident

If your were in Dallas area the toll agency is NTTA. for your own car if you don’t have a toll tag they will mail you a bill based on the auto tag. For a rental I don’t know, but the above poster is probably right. Rental car companies often deal with a third party that bills you a fixed charge per ...
by JBTX
Sun May 13, 2018 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Trusts and Special Needs
Replies: 13
Views: 774

Re: Qualified Trusts and Special Needs

Piggy backing off the side conversation about qualified trusts in the estate planning attorney thread, would the income from traditional IRA distributions in a conduit qualified SNT trust potentially endanger SSI and Medicaid eligibility, since the RMD income is recognized by the beneficiary outsid...
by JBTX
Sun May 13, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: How to find reputable person for Will/Trust?
Replies: 41
Views: 3034

Re: How to find reputable person for Will/Trust?

... If the goal is to have retirement account RMDs go to the benefit of the beneficiary but with the beneficiary never owning the money, then an accumulation trust is the way to go. Just recognize that 1. You need estate attorneys who know what they are doing 2. There is some risk that the IRS may ...
by JBTX
Sun May 13, 2018 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Trusts and Special Needs
Replies: 13
Views: 774

Re: Qualified Trusts and Special Needs

https://www.specialneedsalliance.org/tax-tips-for- This is merely a comment on this site, but it makes sense. It indicates that most SNTs are accumulation trusts. And the way he describes it is that unused amounts of distributions are counted as income. Richard Sayre says: April 30, 2013 at 12:35 pm...
by JBTX
Sun May 13, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Trusts and Special Needs
Replies: 13
Views: 774

Re: Qualified Trusts and Special Needs

JBTX, Interesting questions for speculation among us non-attorneys. To handle this is in the real world you need a bsteiner level lawyer. You are probably right. The problem is I haven’t been knowledgeable enough to even ask the right questions, until recently (thanks to some good questions and pro...
by JBTX
Sun May 13, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Qualified Trusts and Special Needs
Replies: 13
Views: 774

Qualified Trusts and Special Needs

Piggy backing off the side conversation about qualified trusts in the estate planning attorney thread, would the income from traditional IRA distributions in a conduit qualified SNT trust potentially endanger SSI and Medicaid eligibility, since the RMD income is recognized by the beneficiary outside...