Search found 1576 matches

by LeeMKE
Thu Oct 12, 2017 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: Two Solo 401Ks for self under one EIN? (both sole proprietorships)
Replies: 12
Views: 553

Re: Two Solo 401Ks for self under one EIN? (both sole proprietorships)

+1 SpiritRider I was audited by the IRS during a period when I had multiple gigs. I was nervous they would object to my bundling all of the gigs into one Schedule C. But instead they preferred that I did that, even though it made for a messy audit, having expenses that didn't seem to go together (be...
by LeeMKE
Wed Oct 11, 2017 11:17 pm
Forum: Personal Consumer Issues
Topic: Wifi Thermostat
Replies: 55
Views: 3633

Re: Wifi Thermostat

I use Nest Thermostats. I don't know anything about the EcoBee. One thing not yet mentioned is the motion detection on the Nest thermostats. In addition to noticing when you are gone and using the alternative "away" program, the Nest Thermostats have motion detection that will switch back to the "At...
by LeeMKE
Mon Oct 09, 2017 11:48 am
Forum: Investing - Theory, News & General
Topic: Financial Calculations for Boglehead Presentation
Replies: 14
Views: 1488

Re: Financial Calculations for Boglehead Presentation

All Done! The calculator I took from the vertex42 website worked pretty well. It is not calculating the home mortgage the same way I calculate it, but it is close enough for my demonstration. There are three methods I'm suggesting be checked when designing your debt plan: Snowball by size: Send your...
by LeeMKE
Mon Oct 09, 2017 9:09 am
Forum: Investing - Theory, News & General
Topic: Financial Calculations for Boglehead Presentation
Replies: 14
Views: 1488

Re: Financial Calculations for Boglehead Presentation

Just a quick word of caution as someone in the target demographic. I'm 34 w/ approximately $35K in total debt. It doesn't always make financial sense to pay it down as quickly as possible! My loan with the highest interest rate is @ 2.25% (fixed, about 10 years remaining). My largest debt is @ 0.9%...
by LeeMKE
Mon Oct 09, 2017 1:02 am
Forum: Investing - Theory, News & General
Topic: Financial Calculations for Boglehead Presentation
Replies: 14
Views: 1488

Re: Financial Calculations for Boglehead Presentation

Thanks mhalley! I've added this article to the Resources page in the presentation. But I'm still hoping to get some help with calculations so the different approaches can be compared. The most sophisticated approach isn't used by any of the apps, so I don't think the apps can give me what I'm seeking.
by LeeMKE
Mon Oct 09, 2017 12:36 am
Forum: Personal Consumer Issues
Topic: What to do with unused paint?
Replies: 38
Views: 2310

Re: What to do with unused paint?

I would mix all the remnant paint and use it to paint the inside of the garage on the next move. It would be a sickly color, but a painted garage is better in any color than an unpainted garage.
by LeeMKE
Mon Oct 09, 2017 12:32 am
Forum: Personal Consumer Issues
Topic: Do you want your receipt?
Replies: 99
Views: 7442

Re: Do you want your receipt?

I take the receipt when a tip is/maybe involved.

Just to thwart the possibility of someone adding or changing the tip I put on the charge slip. This did happen once to us.

Then I throw them out at home.

I do keep the receipt if it is a tax item, or for large purchases.
by LeeMKE
Sun Oct 08, 2017 10:12 pm
Forum: Investing - Theory, News & General
Topic: Financial Calculations for Boglehead Presentation
Replies: 14
Views: 1488

Financial Calculations for Boglehead Presentation

I have a presentation for our Boglehead group that is in draft right now. The topic is "How to Pay Down Debt" and is aimed at younger investors (age 30+/-) I have an example debtor, and three approaches for the debtor to consider. I'd like to add a slide that shows the total savings from using each ...
by LeeMKE
Tue Sep 26, 2017 9:01 pm
Forum: Investing - Help with Personal Investments
Topic: Allocation - Nearing Retirement
Replies: 26
Views: 2888

Re: Allocation - Nearing Retirement

I'm 62 and we are at 60/40 too. I don't plan on gliding toward 50/50. The next 5 years I will pull from the bonds when equities have a correction. I've been pretty aggressive most of my investing career, so I know others are much more conservative than I. But I'm also managing a portfolio that was d...
by LeeMKE
Tue Sep 26, 2017 8:47 pm
Forum: Investing - Help with Personal Investments
Topic: Can I afford to slow down at 34yo? Feeling burn out.
Replies: 17
Views: 3556

Re: Can I afford to slow down at 34yo? Feeling burn out.

If you were in the US, I'd strongly urge you to find a local franchise of ActionCoach, and go to their classes. You need to figure out how to examine your business and organize it to be sustainable without you burning out. Yes, you need to take breaks, and not just one in 10 years. Since you are abr...
by LeeMKE
Tue Sep 26, 2017 8:13 pm
Forum: Investing - Help with Personal Investments
Topic: Help me evaluate my pension
Replies: 8
Views: 1172

Re: Help me evaluate my pension

At your current age, assuming "no pension at all" for retirement planning purposes is not unreasonable. Thus, "keep doing what you have been doing" seems appropriate.
+1 FiveK
by LeeMKE
Tue Sep 26, 2017 8:10 pm
Forum: Investing - Help with Personal Investments
Topic: Starting Investing Strategy
Replies: 30
Views: 1932

Re: Starting Investing Strategy

Welcome to the forum! My question is regarding Roth IRA. I want to open an account with Vanguard. Since I already contribute to Vanguard Target Retirement Fund (2050) via my Roth 401(k), do you think I should just opt for Vanguard LifeStrategy Fund or should I manually chose the funds? Either fund i...
by LeeMKE
Sun Sep 24, 2017 9:46 pm
Forum: Investing - Theory, News & General
Topic: Roth Conversion and Strategy
Replies: 25
Views: 2817

Re: Roth Conversion and Strategy

I use the Roth Conversion Strategy from I-ORP.com

This tool is designed to calculate how much and when you should convert to ROTH to optimize for future taxes. I'm a fan. Be sure to select the long form.
by LeeMKE
Sun Sep 24, 2017 9:38 pm
Forum: Investing - Theory, News & General
Topic: Any "average Joe" here actually make out well with individual stocks?
Replies: 108
Views: 12491

Re: Any "average Joe" here actually make out well with individual stocks?

I had $10k of stock I'd bought in a friend's company, mainly because I had great confidence and respect for the president. It was the last thing I sold to finish my conversion to the boglehead 3 fund portfolio, and it was up to $14K. I felt a little bad, like I was being disloyal, but I sold it. And...
by LeeMKE
Fri Sep 22, 2017 5:48 pm
Forum: Personal Consumer Issues
Topic: Credit Freeze? One last step I'm taking
Replies: 10
Views: 1333

Re: Credit Freeze? One last step I'm taking

What's the danger of the Equifax hack for accounts like Vanguard? Low, but not zero. We have yet to see theft from online brokerage firms, at least not that we know of. But hackers try to break banks and brokerage firms daily. The financial industry agreed to a standard that actually is a mirror of...
by LeeMKE
Thu Sep 21, 2017 11:53 pm
Forum: Personal Consumer Issues
Topic: Credit Freeze? One last step I'm taking
Replies: 10
Views: 1333

Credit Freeze? One last step I'm taking

After freezing our credit bureau accounts, I scanned the letters with the pins/passwords and put the PDF files in an electronic vault (FidSafe is the one I'm using). I'll be able to access the codes I need from anywhere with an internet connection (and connectivity is required to unlock a frozen acc...
by LeeMKE
Wed Sep 20, 2017 10:16 pm
Forum: Investing - Help with Personal Investments
Topic: New Job 401K Portfolio Advice
Replies: 4
Views: 327

Re: New Job 401K Portfolio Advice

Sounds like you have things going great! Because you are young, I'd throw everything into STATE STREET S&P 500 INDEX and let it ride. (full disclosure: I was over 95% equities/stocks until I was in my fifties. Your appetite may be less aggressive) As you get closer to 30/35, the balance grows and yo...
by LeeMKE
Sat Sep 09, 2017 11:35 am
Forum: Investing - Help with Personal Investments
Topic: First portfolio question
Replies: 5
Views: 457

Re: First portfolio question

+1 ruralavalon Let me guess. The re-fi is for a longer term than the loan you currently have. That would be a double whammy for you, and very profitable for the lender, plus you lose the current protections. You are ready to use this chart to decide where you focus next dollars: https://docs.google....
by LeeMKE
Fri Sep 08, 2017 9:45 am
Forum: Investing - Theory, News & General
Topic: WHY to pursue Index Fund investing
Replies: 0
Views: 336

WHY to pursue Index Fund investing

I'm screening materials for new investors and this documentary is a great explanation of WHY we are index investors: http://www.indexfundsthemovie.com A 12 step recovery program for active investors The HOW is in the wiki, and details discussed on our forum. (This movie was previously posted some ti...
by LeeMKE
Wed Sep 06, 2017 8:27 am
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 121
Views: 11481

Re: How I use I-ORP, and who shouldn't

I've edited the original post to add: You've confirmed that I-ORP does NOT apply: 1) Your estate is likely to be over $5 million, making your case an estate planning case instead of a withdrawal optimization case. 2) You aren't trying to optimize retirement withdrawals. 3) Your retirement will take ...
by LeeMKE
Wed Sep 06, 2017 8:16 am
Forum: Investing - Theory, News & General
Topic: Has Firecalc or I-ORP altered your retirement plans?
Replies: 17
Views: 1997

Re: Has Firecalc or I-ORP altered your retirement plans?

How I use I-ORP, and who shouldn't Edit Report this post Quote Post by LeeMKE » Thu May 11, 2017 1:47 am I fit the parameters to use I-ORP, and it has been a big help: 1) I am principally invested in tax deferred accounts (IRA and 401K) and had done some IRA to ROTH conversions, but wanted to know ...
by LeeMKE
Mon Sep 04, 2017 11:35 pm
Forum: Investing - Theory, News & General
Topic: Has Firecalc or I-ORP altered your retirement plans?
Replies: 17
Views: 1997

Re: Has Firecalc or I-ORP altered your retirement plans?

Yup. I've used a variety of tools to look at many aspects of our retirement planning. I-ORP was important for us.
by LeeMKE
Mon Sep 04, 2017 3:43 pm
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 121
Views: 11481

Re: How I use I-ORP, and who shouldn't

Post Mon Sep 04, 2017 8:58 am TheTimeLord wrote: ↑ Which Retirement Spending Plan are people using? I think I am favoring the use of Age Banding, although Retirement Reality produces the most favorable results for me by a wide margin. 1) Constant Spending 2) Retirement Reality Spending 3) Changing ...
by LeeMKE
Mon Sep 04, 2017 3:33 pm
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 121
Views: 11481

Re: How I use I-ORP, and who shouldn't

So I ran a few scenarios this morning and I noticed a flaw, real flaw I think. I-orp assumes you get nothing from SS if your spouse dies before you get SS at age 70. But in real life, you get window benefits after age 60. But it seems like I need to aggressively convert my IRA to Roth IRA is the bo...
by LeeMKE
Sun Sep 03, 2017 4:49 pm
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 121
Views: 11481

Re: How I use I-ORP, and who shouldn't

I was being very conservative as always, my nature when I plan things, and hoping for the best. I put 7 % for IRA and 8% for Roth, 3% for after tax. I've been earning more, but I stick to the conservative side when I plan things. For bonds, I put 1 or less than 2%. Are these numbers too high? I do ...
by LeeMKE
Fri Sep 01, 2017 6:40 pm
Forum: Investing - Theory, News & General
Topic: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]
Replies: 389
Views: 61413

Re: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]

Many of the graphs are large and you probably could not read them in the small paperback format. . . . The large paperback size is a bit awkward to handle though and the cover has a weird coating on it. While readable, some of the charts were not printed as crisp as they should be. It reminded me o...
by LeeMKE
Fri Sep 01, 2017 12:38 am
Forum: Personal Consumer Issues
Topic: Are Roomba's effective?
Replies: 55
Views: 4463

Re: Are Roomba's effective?

We used a Roomba at our last place with hardwood floors. It did a good job there. But on deep carpet, the Roomba doesn't have enough suction. So, now that we are in a place with lots of carpet, I'm back to running the vaccum cleaner (rainbow, the BEST) twice a week. We have two cats and the amount o...
by LeeMKE
Wed Aug 30, 2017 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement - Withdrawal Strategies ?
Replies: 7
Views: 1911

Re: Retirement - Withdrawal Strategies ?

I plan to make withdrawals twice a year. Monthly seems like too much of a nuisance. Annual is just too much cash to have idle. My plans may change once we get started. But I moved our CD ladder from quarterly to semi-annual because it was too messy managing the reinvestments every few months. From m...
by LeeMKE
Mon Aug 28, 2017 11:56 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement - Withdrawal Strategies ?
Replies: 7
Views: 1911

Re: Retirement - Withdrawal Strategies ?

I went through this exercise last year. In addition to the material on the wiki, and McClung's book, Living Off Your Money, I studied Jim Otar's book, Unveiling the Retirement Myth. And for a nice analysis of which accounts to draw from, I started with I-ORP.com, the long form analysis. It was a tho...
by LeeMKE
Mon Aug 28, 2017 11:17 pm
Forum: Investing - Help with Personal Investments
Topic: Starting a Roth IRA for a 9 year old
Replies: 20
Views: 2461

Re: Starting a Roth IRA for a 9 year old

A kid with $26,000 in IRA (or better yet, Roth) by age 22, will have $1mil by age 65 with no further contributions.

A worthwhile endowment.
by LeeMKE
Sun Aug 27, 2017 8:40 am
Forum: Investing - Theory, News & General
Topic: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]
Replies: 389
Views: 61413

Re: [Book: Living off Your Money, by M. McClung (Prime Harvesting)]

The hardback is currently out of stock on Amazon. Is the paperback version "trade" size, meaning as large as or nearly as large as a hardback? (as opposed to the mass market size of cheaper ones) This book was only printed in the trade paperback, which is the larger size. No hardback is available, ...
by LeeMKE
Tue Aug 22, 2017 8:03 pm
Forum: Personal Consumer Issues
Topic: How far would you travel to see The Eclipse?
Replies: 259
Views: 14923

Re: How far would you travel to see The Eclipse?

Well, not everyone can be a winner. I drove 300 miles to get in the path of totality, only to see clouds roll in before the eclipse. I caught a glimpse of the sun twice when it peaked through clouds before totality, but then the clouds filled up the sky and started leaking. I still think it was wor...
by LeeMKE
Sun Aug 20, 2017 1:26 pm
Forum: Personal Consumer Issues
Topic: Dental Insurance/Costs
Replies: 25
Views: 1920

Re: Dental Insurance/Costs

Hospitalizations from the implant? :shock: Yikes. Did he have a bad reaction to it or an infection? Yup. Infections. He used good post procedure care, but twice was hospitalized. We thought he might lose most of his jaw the second time. Needless to say, he will not be considering that again. Severa...
by LeeMKE
Sun Aug 20, 2017 11:32 am
Forum: Personal Consumer Issues
Topic: How far would you travel to see The Eclipse?
Replies: 259
Views: 14923

Re: How far would you travel to see The Eclipse?

I leave in a few hours via Amtrak to watch it in Carbondale IL tomorrow (hopefully).

Not interested in driving because of the grid lock widely expected for more totality locations.
by LeeMKE
Sun Aug 20, 2017 11:21 am
Forum: Personal Consumer Issues
Topic: Kitchen knife set. Good quality - Recommendations
Replies: 55
Views: 4502

Re: Kitchen knife set. Good quality - Recommendations

DSInvestor wrote: ↑Sat Aug 19, 2017 8:05 pm America's Test Kitchen really likes the Victorinox Fibrox 8" Chef Knife: https://www.amazon.com/Victorinox-Fibro ... chef+knife They test lots of knives and keep coming back to this one. This is also top rated in Cook's Illustrated and a bargain. Some of ...
by LeeMKE
Sun Aug 20, 2017 11:00 am
Forum: Personal Consumer Issues
Topic: Dental Insurance/Costs
Replies: 25
Views: 1920

Re: Dental Insurance/Costs

+1 bberris Medical tourism is our plan of choice. Mexico is the closest to the US with a wide variety of dental practices. Our dental insurance isn't really insurance. It covers our 2x annual cleanings, but nothing else. And the cost equals the cost of those annual cleanings. I pay for the insurance...
by LeeMKE
Sat Aug 19, 2017 11:06 am
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 121
Views: 11481

Re: How I use I-ORP, and who shouldn't

Freebeer wrote in red below: Peter Foley wrote: ↑Fri Aug 18, 2017 2:57 pm munemaker wrote: ...converting $50K per year for two years provided a larger estate than converting $20K for five years. This is the effect of rate of return in the Roth account which I set to be higher than that of a tax def...
by LeeMKE
Sat Aug 19, 2017 12:39 am
Forum: Personal Finance (Not Investing)
Topic: Tax deferred options
Replies: 3
Views: 414

Re: Tax deferred options

I hate to be the bearer of bad news, but I don't know of any reasonable way to shelter the windfall.

For the side job, can you open a Solo 401K?
by LeeMKE
Fri Aug 18, 2017 9:21 pm
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 121
Views: 11481

Re: How I use I-ORP, and who shouldn't

Yes. Any remainder in my estate will go to charity. But my planning scenario is that I spend the last nickel the day after I die. First priority is taking care of myself and DH. If I die before DH, most or all he gets will be in ROTH, with charities getting the IRA. If I survive DH, and it looks lik...
by LeeMKE
Fri Aug 18, 2017 12:12 am
Forum: Investing - Theory, News & General
Topic: How I use I-ORP, and who shouldn't
Replies: 121
Views: 11481

Re: How I use I-ORP, and who shouldn't

What if someone's estate is under $5M now, but i-ORP projects it will be over $5M at the end of life? My guess is that I-ORP isn't set up to do estate planning of this type. Trusts, charitable gifts and life insurance aren't part of this analysis, so you might need to look elsewhere for estate plan...
by LeeMKE
Sat Aug 12, 2017 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs Living Trust
Replies: 59
Views: 5707

Re: Will vs Living Trust

I'm a big fan of Nolo Press. The DIY legal is attractive, but they also are frank in telling you when your situation needs specific legal help they can't adequately cover in a book. They cover all the big legal issues anyone will face, and I've found them very helpful. Pre-Nup, Divorce, buy house, s...
by LeeMKE
Fri Aug 11, 2017 8:44 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Checkup - Major Life Event
Replies: 15
Views: 1980

Re: Portfolio Checkup - Major Life Event

The Nolo Press book on Pre-Nups is an excellent exercise for a couple. It prompts you to talk over issues that might not have come up so far. It was a very good exercise for us, in a second marriage when a pre-nup was necessary. You may not decide to execute the contract, but knowing each other's th...
by LeeMKE
Thu Aug 10, 2017 11:53 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Checkup - Major Life Event
Replies: 15
Views: 1980

Re: Portfolio Checkup - Major Life Event

+1 aristotelian A pre-nup isn't needed IMHO at this point. You have more assets, but with your current plan, that difference will fade fast in the early years of your marriage, and the two of you are well matched for future earnings at the moment. If you are discussing having children, she might nee...
by LeeMKE
Thu Aug 10, 2017 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Will vs Living Trust
Replies: 59
Views: 5707

Re: Will vs Living Trust

Here's how to save money for the OP: Buy the pertinent books from Nolo Press, the DIY legal publishers. Work through their questions and narrow down your focus for the meeting with an estate attorney, (NOT a young attorney who is working trusts (to a trust dog, every bone needs a trust)). You'll be ...
by LeeMKE
Mon Aug 07, 2017 10:31 pm
Forum: Personal Finance (Not Investing)
Topic: When does renting make sense
Replies: 112
Views: 9575

Re: When does renting make sense

+1 KlangFool A house is not an investment, it is an expense. Most folks josh themselves into thinking they are making money when they sell it for more than they paid. But they also conveniently ignore the costs of buying and selling, and all the maintenance they paid for and/or performed. If you tal...
by LeeMKE
Mon Aug 07, 2017 9:54 pm
Forum: Local Chapters and Bogleheads Community
Topic: Wisconsin - Milwaukee meetings - Master Thread
Replies: 26
Views: 4792

Re: Wisconsin - Milwaukee meetings - Master Thread

TWO meetings this month! . :confused . :D . :) . 8-) . :oops: . :) . :shock: . :happy . :D . :moneybag Bogleheads I - Original lunchtime group, focused on retirement planning Tuesday September 5 at noon We meet at Bollywood Grill 1038 N Jackson St, Milwaukee, WI 53202 Laura Ricci is our speaker, sp...
by LeeMKE
Fri Jul 21, 2017 12:14 am
Forum: Personal Finance (Not Investing)
Topic: simplicity vs chasing bonuses
Replies: 29
Views: 2620

Re: simplicity vs chasing bonuses

I took up travel hacking almost 2 years ago, and a big part is chasing and tracking credit card bonuses. At first, it was overwhelming, learning how these things work, and being somewhat frazzled by the complexity of it all. I don't do any of the really aggressive stuff like "manufactured spend", bu...