Search found 4410 matches

by Leesbro63
Thu Apr 28, 2016 6:57 am
Forum: Investing - Theory, News & General
Topic: McKinsey report on diminishing returns
Replies: 91
Views: 5293

Re: McKinsey report on diminishing returns

Savers will save. Spenders will spend and investment returns will be what they will be.
by Leesbro63
Wed Apr 27, 2016 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Death Benefit
Replies: 5
Views: 773

Social Security Death Benefit

I handled the finances of a widowed great aunt who died in July, 2014 at age 101. She had no children and was the last of her siblings. She worked outside the home until she married my great uncle in 1954, then never worked again. He was a government employee, so their Social Security was minimal. S...
by Leesbro63
Mon Apr 25, 2016 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Missed Payment Impact on Credit Score
Replies: 12
Views: 992

Missed Payment Impact on Credit Score

I am just wondering how badly a person's credit score will be impacted from one missed credit card payment...but that gets paid on our about the NEXT month's due date. For instance, say I forgot to make a payment but realized it next month at the due date for the next payment? This did happen to me ...
by Leesbro63
Mon Apr 25, 2016 7:53 am
Forum: Personal Consumer Issues
Topic: Took the Plunge, Bought an Accord Hybrid
Replies: 54
Views: 8323

Re: Took the Plunge, Bought an Accord Hybrid

Congrat's to the Bogleheads interested in high fuel economy vehicles. Seems like I read that 60% of US oil consumption is used in vehicles. If 60% could be halved, what an huge positive impact that would have on the worlds civilian population. burt Or would it just cause/enable more people to drive...
by Leesbro63
Tue Apr 19, 2016 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: New Charles Schwab Linked Credit Cards
Replies: 0
Views: 355

New Charles Schwab Linked Credit Cards

I saw an Email about some new Chas Schwab linked credit cards. Didn't have time to sniff through the fine print, but I figured it would be of interest here.
by Leesbro63
Tue Apr 19, 2016 4:35 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: what's your Withdrawal Rate for this and last year?
Replies: 79
Views: 6304

Re: Retirees: what's your Withdrawal Rate for this and last year?

We have never had health insurance, "old style" or "new style", without deductibles and co-pays Yes but many new style policies have family deductibles of over $12,000 per year. Are you in that category of are your out of pocket costs more moderate like the old style policies?
by Leesbro63
Fri Apr 15, 2016 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: what's your Withdrawal Rate for this and last year?
Replies: 79
Views: 6304

Re: Retirees: what's your Withdrawal Rate for this and last year?

58. Wife still works and has health insurance. My pension, 401(k) dividends, and taxable dividends are enough to live on. Not interested in debating whether spending the dividends constitutes a withdrawal of principal. Just curious, is it "good, old style" insurance, or "new style&qu...
by Leesbro63
Fri Apr 15, 2016 8:56 am
Forum: Investing - Help with Personal Investments
Topic: How to weigh benefits of PA 529 plan against costs
Replies: 5
Views: 393

Re: How to weigh benefits of PA 529 plan against costs

The PA tax break is even smaller as our flat income tax rate is "just" 3.07%. I am a big believer in the PA Guaranteed Savings Plan (a prepaid), but doing it for the state income tax break is not the reason. Just a small bonus.
by Leesbro63
Fri Apr 15, 2016 8:14 am
Forum: Investing - Help with Personal Investments
Topic: How to weigh benefits of PA 529 plan against costs
Replies: 5
Views: 393

Re: How to weigh benefits of PA 529 plan against costs

I honestly don't know the answer to your question. When I invested, there was no premium. If Penn State cost $15,000 per year, then an investment of $15,000 bought you the guarantee of 1 year of Penn State, regardless of the cost, when your kid uses it at Penn State (or the equivalent dollars if use...
by Leesbro63
Fri Apr 15, 2016 8:00 am
Forum: Personal Consumer Issues
Topic: Stopping unwanted "junk" newspaper
Replies: 40
Views: 4615

Re: Stopping unwanted "junk" newspaper

Related: My son subscribes to the WSJ as a college student. They INSIST on delivering a paper copy, even though we don't want it. I suspect so they can tell advertisers "we have so many hard copies out daily" blah blah blah
by Leesbro63
Thu Apr 14, 2016 5:50 am
Forum: Investing - Help with Personal Investments
Topic: How to weigh benefits of PA 529 plan against costs
Replies: 5
Views: 393

Re: How to weigh benefits of PA 529 plan against costs

I did the PA Guaranteed Savings Plan with lump sums in 2001 for both of my kids, now 22 and 26. The best investment I ever made. Worked fabulously to pay for top schools (one an Ivy) for both kids. Paid once in 2001 and done. That being said, I did and do share your concern about the phony "Gua...
by Leesbro63
Wed Apr 13, 2016 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: what's your Withdrawal Rate for this and last year?
Replies: 79
Views: 6304

Re: Retirees: what's your Withdrawal Rate for this and last year?

However, I would not call the RMD a withdrawal unless it was going to be spent. If I was not going to spend it, but invest it in a taxable account, that is not a withdrawal. I pretty much agree with this and am surprised how so many people (generally NOT Bogleheads) can't understand that this is ba...
by Leesbro63
Wed Apr 13, 2016 11:55 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: what's your Withdrawal Rate for this and last year?
Replies: 79
Views: 6304

Re: Retirees: what's your Withdrawal Rate for this and last year?

At 70.5 the withdrawal can bump up significantly due to taxes. This is more of a gradual thing. The starting RMD is about 3-4% of your sheltered account balance, right? Say taxes are 1/3rd of that...probably less for most...but I get your overall point that for rock solid security, your initial SWR...
by Leesbro63
Wed Apr 13, 2016 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: what's your Withdrawal Rate for this and last year?
Replies: 79
Views: 6304

Re: Retirees: what's your Withdrawal Rate for this and last year?

DH retired completely in 2008. I was retired from full time work, but still worked part time til mid 2009 Our withdrawal rate has varied: we live on SS/pension income and use withdrawals for an annual international trip and other large expenses. It is easy to cut back when necessary since we don't ...
by Leesbro63
Wed Apr 13, 2016 11:40 am
Forum: Personal Finance (Not Investing)
Topic: Retirees: what's your Withdrawal Rate for this and last year?
Replies: 79
Views: 6304

Re: Retirees: what's your Withdrawal Rate for this and last year?

DW, age 61, and I, age 67, both retired June 2012; we both are covered by DB pensions and are waiting to claim SS, with the SS claiming "objective" being age 70 for me and age 67 for her. Actual withdrawal rate last year was 2.1%; budget for 2016 is a withdrawal rate of 1%----so far this ...
by Leesbro63
Tue Apr 12, 2016 11:41 am
Forum: Personal Consumer Issues
Topic: Cast Iron Frying Pans
Replies: 71
Views: 6574

Re: Cast Iron Frying Pans

We are really enjoying our Lodge cast iron skillet recommended here. We also bought the Lodge glass lid and neoprene handle covers/insulators.

Question: Are either or both this lid and covers safe to put into the oven?
by Leesbro63
Fri Apr 08, 2016 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Should I convert a large IRA to a Roth IRA and incur large taxes
Replies: 86
Views: 6664

Re: Should I convert a large IRA to a Roth IRA and incur large taxes

As to the last point in the last post, above, about the possibility of LOWER marginal tax rates: For what it's worth, I did a large conversion in 2010. At that time, there was some discussion about lower marginal tax rates in exchange for reduced/eliminated deductions. Contrast that with the "c...
by Leesbro63
Wed Apr 06, 2016 7:04 am
Forum: Personal Finance (Not Investing)
Topic: IRS letter re AIRBNB income
Replies: 12
Views: 2457

Re: IRS letter re AIRBNB income

EDIT: I now see that RudyS, above, basically said the same thing I posted here: This sounds very much like the longstanding issue regarding form 1099-Q that 529 plans send every year showing the potentially taxable earnings withdrawn from 529 plans for college expenses. There is no way to tell the I...
by Leesbro63
Tue Apr 05, 2016 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Should I convert a large IRA to a Roth IRA and incur large taxes
Replies: 86
Views: 6664

Re: Should I convert a large IRA to a Roth IRA and incur large taxes

Might you ever move to somewhere like Florida? There is no income tax there, for instance, and on $1.5M that could be a huge savings versus many other states.
by Leesbro63
Thu Mar 31, 2016 10:34 am
Forum: Investing - Theory, News & General
Topic: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's
Replies: 154
Views: 19372

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

I think the last post was ALMOST right, but not quite, IMHO. Replace the words "now doing" with "did". That's the point. Those able and willing to do large Roth conversions, with big accumulated eventually taxable traditional IRAs have had a 6+ year window to do it and have certa...
by Leesbro63
Wed Mar 30, 2016 8:26 am
Forum: Personal Consumer Issues
Topic: Living in Pittsburgh
Replies: 70
Views: 4981

Re: Living in Pittsburgh

True, but that post was put up by me almost 3 years ago.
by Leesbro63
Wed Mar 30, 2016 6:44 am
Forum: Personal Consumer Issues
Topic: Living in Pittsburgh
Replies: 70
Views: 4981

Re: Living in Pittsburgh

All wheel drive and even front wheel drive vehicles have been a huge quality of life improvement thing here. As a child, and even in my early driving years starting 40 years ago (1976), I experienced how tough winter driving was with snowy, icy hills. A bad storm can still be a pain, but today's veh...
by Leesbro63
Tue Mar 29, 2016 12:14 pm
Forum: Personal Consumer Issues
Topic: Living in Pittsburgh
Replies: 70
Views: 4981

Re: Living in Pittsburgh

The view coming out of the Fort Pitt Tunnel never gets old. I don't have any specific insight to Pittsburgh living, but about 30 miles west in the great state of WV you can find property taxes that are 1/4 of the taxes in PA. We have a couple upscale neighborhoods close to route 22 that put you in ...
by Leesbro63
Tue Mar 29, 2016 8:08 am
Forum: Personal Consumer Issues
Topic: Living in Pittsburgh
Replies: 70
Views: 4981

Re: Living in Pittsburgh

It's an interesting place-- to be from. One of the impressions of my youth is simply forgetting about the existence of the sky for the winter. Grey, and dumpy hills that never really gave you a real view. Lots and lots and lots of really, really steep hills. South Hills is too far to Oakland unless...
by Leesbro63
Mon Mar 28, 2016 7:08 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's
Replies: 154
Views: 19372

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

Not true that no matter how you get there that tax is deferred on Roth earnings. Tax never happens, ever, on Roth earnings. It's not just "mere deferral". Versus the non-deductible traditional that has "mere deferral". And I stand by my "huge upside" comment for why the...
by Leesbro63
Mon Mar 28, 2016 6:42 pm
Forum: Personal Consumer Issues
Topic: Living in Pittsburgh
Replies: 70
Views: 4981

Re: Living in Pittsburgh

The issue with the weather isn't so much summer or winter extremes; it's the lack of sunny, dry days. People coming here from the sunbelt often find it depressing for days and weeks on end. Also pothole season, while mild this year, can be really nasty. And in general cars don't last as long because...
by Leesbro63
Mon Mar 28, 2016 6:36 pm
Forum: Personal Consumer Issues
Topic: Living in Pittsburgh
Replies: 70
Views: 4981

Re: Living in Pittsburgh

I've lived here all my life. One thing to look out for is outrageous property taxes. Don't go by what the current owner pays. Be sure to focus on this and compute the current tax rate on whatever you pay. They may not "get you" the first year after a property purchase, but sooner or later...
by Leesbro63
Mon Mar 28, 2016 6:21 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's
Replies: 154
Views: 19372

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

The last post is not quite right. If high income folks who currently do back door Roth IRAs found them to become prohibited, the most likely alternative would be to do non-deductible traditional IRAs. They would NOT be allowed, under current law, to make traditional IRA contributions and take a curr...
by Leesbro63
Mon Mar 28, 2016 3:15 pm
Forum: Personal Consumer Issues
Topic: Living in Pittsburgh
Replies: 70
Views: 4981

Re: Living in Pittsburgh

I've lived here all my life. One thing to look out for is outrageous property taxes. Don't go by what the current owner pays. Be sure to focus on this and compute the current tax rate on whatever you pay. They may not "get you" the first year after a property purchase, but sooner or later ...
by Leesbro63
Sun Mar 27, 2016 7:33 pm
Forum: Investing - Theory, News & General
Topic: Malkiels Recommended Portfolio
Replies: 25
Views: 3475

Re: Malkiels Recommended Portfolio

Here's a recent Jim Lange podcast interview with Malkiel

http://www.paytaxeslater.com/radioshow/ ... ur_167.mp3
by Leesbro63
Sat Mar 26, 2016 8:15 am
Forum: Investing - Help with Personal Investments
Topic: How do billionaires invest?
Replies: 50
Views: 6313

Re: How do billionaires invest?

I am curious about what net worth point people should invest differently than "standard Boglehead" investing. $1Million? $5Million? $10Million $25Million? $100Million? $500Million?
by Leesbro63
Fri Mar 25, 2016 9:46 am
Forum: Investing - Theory, News & General
Topic: "What To Do With A Crummy 401k"
Replies: 4
Views: 1001

Re: "What To Do With A Crummy 401k"

For what it's worth, perhaps the title of this thread should be "What To Do With A Lousy 401K". Because I learned that "CRUMMY" ("CRUMMEY", actually), is the name of a famous legal case involving Irrevocable Life Insurance Trusts. And each year a "Crummey Letter&qu...
by Leesbro63
Fri Mar 25, 2016 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Liking the new Citi CC at Costco
Replies: 69
Views: 16511

Re: Liking the new Citi CC at Costco

My Sam's Club visa has 5% on gasoline, 3% on dining and 1% on everything else.
by Leesbro63
Wed Mar 23, 2016 4:10 pm
Forum: Investing - Help with Personal Investments
Topic: How do billionaires invest?
Replies: 50
Views: 6313

Re: How do billionaires invest?

Sometimes people miss the obvious! :twisted: Donald J. Trump's wealth report from the Federal Election Commission courtesy of the WSJ: All 92 pages of it. Donald Trump’s Financial Disclosure — What We Learned Republican Donald Trump’s federal financial disclosure provides a window into his sprawlin...
by Leesbro63
Wed Mar 23, 2016 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: How do billionaires invest?
Replies: 50
Views: 6313

Re: How do billionaires invest?

David Jay wrote:Agree with above advice, portfolios of hundreds of millions need professional management, especially as it concerns estate planning.

Any estate over $5.45 million (2016) will incur estate taxes.


Actually it can be double that for a married couple.
by Leesbro63
Mon Mar 21, 2016 4:14 pm
Forum: Investing - Theory, News & General
Topic: Free Social Security Book From Jim Lange
Replies: 13
Views: 2866

Re: Free Social Security Book From Jim Lange

Lange's podcasts are excellent and very Bogleheadish: http://www.paytaxeslater.com/radioshow.php
by Leesbro63
Mon Mar 21, 2016 12:51 pm
Forum: Investing - Theory, News & General
Topic: The Hulbert Financial Digest says goodbye
Replies: 15
Views: 2861

Re: The Hulbert Financial Digest says goodbye

I guess what make him "Bogleheadish" was the fact that his basic premise wasn't "follow this newsletter" or that one...but rather it his premise was that it was almost impossible to beat the market. His main reason d'etre was to prove that the newsletters were largely a waste of ...
by Leesbro63
Fri Mar 18, 2016 12:19 pm
Forum: Investing - Theory, News & General
Topic: The Hulbert Financial Digest says goodbye
Replies: 15
Views: 2861

Re: The Hulbert Financial Digest says goodbye

One of the good guys from the early era of middle class investor information.
by Leesbro63
Mon Mar 07, 2016 3:09 pm
Forum: Investing - Theory, News & General
Topic: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's
Replies: 154
Views: 19372

Re: Michael Kitces says IRS auditors disapprove of Backdoor Roth IRA's

It seems to me what's going on here is a conflict between three tax periods. The earliest tax law was only willing to let higher earners contribute to an IRA without a tax deduction and with only a deferral of tax on the earnings. Later law allowed for contributions to an IRA without any tax ever on...
by Leesbro63
Mon Mar 07, 2016 11:18 am
Forum: Personal Finance (Not Investing)
Topic: FICO Score??
Replies: 58
Views: 4182

Re: FICO Score??

Oddly, sometimes consumers are considered a better risk if they manage debt and available credit than if they have none at all. It's just the way our consumer society works. Why do you find this odd? It makes perfect sense to me. Kind of like your parents letting you borrow the family car to run er...
by Leesbro63
Mon Mar 07, 2016 5:06 am
Forum: Personal Finance (Not Investing)
Topic: Credit card "deadbeats"
Replies: 23
Views: 2751

Re: Credit card "deadbeats"

I'm sure there's a proportion of cc users who stop paying, go bankrupt, etc. maybe someone who pays in full each month hedges the cc companies' bets against he folks they never fully collect from. And maybe we spend more than we would if it were all done in cash, so the volume helps make up for the...
by Leesbro63
Mon Mar 07, 2016 4:58 am
Forum: Personal Finance (Not Investing)
Topic: FICO Score??
Replies: 58
Views: 4182

Re: FICO Score??

We live in America. Oddly, sometimes consumers are considered a better risk if they manage debt and available credit than if they have none at all. It's just the way our consumer society works. I would argue that getting your credit score at least into the 700s is somewhat important even with no pla...
by Leesbro63
Sun Mar 06, 2016 1:14 pm
Forum: Personal Consumer Issues
Topic: Cast Iron Frying Pans
Replies: 71
Views: 6574

Re: Cast Iron Frying Pans

OK! I am the original poster and two days ago dropped $20 at Target for a 12 inch LODGE cast iron frying pan. So far, so good! I've been playing around with it etc. My observation is that the weight of it is somewhat cumbersome and annoying, but making meat (thin steak, seasoned, for steak salad) wa...
by Leesbro63
Fri Mar 04, 2016 12:51 pm
Forum: Investing - Theory, News & General
Topic: What to do if bonds have negative returns?
Replies: 58
Views: 6056

Re: What to do if bonds have negative returns?

Prepay many years worth of federal income tax to the IRS.
by Leesbro63
Fri Mar 04, 2016 12:09 pm
Forum: Personal Consumer Issues
Topic: Cast Iron Frying Pans
Replies: 71
Views: 6574

Re: Cast Iron Frying Pans

I claimed my Grandma's cast iron skillet when she passed some 40 years ago. No idea how long she had it and we still use it with no sticking issues. Might be from years of her seasoning it with lard from the hogs she raised. One problem is they should not be used on some of the smooth cooktops. Not...
by Leesbro63
Thu Mar 03, 2016 4:18 pm
Forum: Personal Consumer Issues
Topic: Cast Iron Frying Pans
Replies: 71
Views: 6574

Cast Iron Frying Pans

I've never been good in the kitchen and have never had much interest. I've learned how to cook on the grill, however, and started making meat, chicken and fish on an All-Clad teflon frying pan on the stove top. I was told that I should try a cast iron frying pan. I'd like to learn more. Why cast iro...
by Leesbro63
Tue Mar 01, 2016 5:47 pm
Forum: Personal Consumer Issues
Topic: Free TV Signal for Occasional Use
Replies: 24
Views: 2190

Re: Free TV Signal for Occasional Use

Ok, so I hooked up an old APPLE TV box that I used to only use for Netflix. To my surprise, there is a lot of programming that appears to be free. Or am I missing something? What's the catch? Watching BLOOMBERG right now, for instance (which is great if I want a quick dose of financial news while in...
by Leesbro63
Tue Mar 01, 2016 5:30 pm
Forum: Investing - Theory, News & General
Topic: Vanguard Brokerage Corrected 1099-DIV
Replies: 20
Views: 1598

Re: Vanguard Brokerage Corrected 1099-DIV

My observation is that almost no one with a brokerage account should ever file their tax returns before the due date...or at least not until April 1st-ish. It's getting better than when the deadline was Jan 31st and the brokerages almost all got it wrong by default, but we're still not where origina...
by Leesbro63
Tue Mar 01, 2016 11:01 am
Forum: Personal Consumer Issues
Topic: Free TV Signal for Occasional Use
Replies: 24
Views: 2190

Re: Free TV Signal for Occasional Use

No luck with any signal whatsoever via any of the methods mentioned here. I do have a NETFLIX account and an old APPLE TV box. That should do what I want. Thank you all for the help.
by Leesbro63
Tue Mar 01, 2016 10:59 am
Forum: Personal Finance (Not Investing)
Topic: Financing new car
Replies: 28
Views: 2698

Re: Financing new car

My biggest reason to pay cash is to avoid "payment mentality". Which might cause you to buy new cars more often than just paying for it. Because it's too easy to rationalize "I can keep roughly the same payment and get a new car". When you really don't need it.

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