Search found 389 matches

by RobInCT
Sun Jun 12, 2016 12:14 pm
Forum: Investing - Help with Personal Investments
Topic: Need Help!. Best way to start saving for Home Downpayment?
Replies: 22
Views: 2667

Re: Need Help!. Best way to start saving for Home Downpayment?

I think having some bonds and equities for your downpayment fund is fine as long as you're truly flexible about timing of purchase and would be able to hold off, potentially as much as a few years, in the event of a serious downturn at or around the time you were initially planning to purchase. I st...
by RobInCT
Sun Mar 27, 2016 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Home too small
Replies: 45
Views: 4694

Re: Home too small

But this house was built in 1928. It has not been remodeled in several decades. Talk to architects, but I'm guessing your best bet in this case is a tear-down followed by construction of a new home from the foundation up, assuming local codes permit it. There are several advantages to this approach...
by RobInCT
Sun Mar 27, 2016 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Financially, how have you done/doing vs. your parents?
Replies: 134
Views: 12201

Re: Financially, how have you done/doing vs. your parents?

Just barely an older millennial here with older boomer dad, mom 3 years younger--I was a later-in-life baby. I think I'm on track to do about as well as my parents did, though at this point I'm significantly behind where they were due in large part to the fact that graduate education, and the accomp...
by RobInCT
Sun Jan 03, 2016 10:13 am
Forum: Investing - Help with Personal Investments
Topic: Where to put surplus cash likely needed in 2-5 years?
Replies: 10
Views: 1997

Re: Where to put surplus cash likely needed in 2-5 years?

I had this situation a few years ago and went with 1/3 cash, 1/3 tax-free bond fund, 1/3 total stock market. I made gradual adjustments to the allocation, and now, I'm now within 1 year of needing the money and am 60/30/10 cash/bonds/TSM and planning on going 100% cash in the very near future (have ...
by RobInCT
Sat Oct 31, 2015 4:26 pm
Forum: Investing - Help with Personal Investments
Topic: Investing disagreements with spouse
Replies: 86
Views: 8836

Re: Investing disagreements with spouse

Give her 20k and let her try. Check back on her performance in 15-20 years. "Give her?" Sheesh. OP, half of the money is hers. You obviously have a right to express an opinion. As does she. If your ideas are so far apart that you think it's financially disastrous, and she won't budge, the...
by RobInCT
Sun Oct 25, 2015 1:37 pm
Forum: Personal Consumer Issues
Topic: Recomendation for a good sheet set
Replies: 22
Views: 1929

Re: Recomendation for a good sheet set

You should give us an idea of your price range. Asking for recommendations for a good sheet set is like asking for recommendations for a good suit. The advice you're going to get will be practically meaningless unless you narrow the focus a bit.
by RobInCT
Sun Oct 25, 2015 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying retirement to make charitable contributions
Replies: 29
Views: 2926

Re: Delaying retirement to make charitable contributions

It would seem that this is what Bill Gates and Warren Buffett are doing.
by RobInCT
Sat Oct 24, 2015 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: can your employer confiscate your retirement account?
Replies: 20
Views: 3260

Re: can your employer confiscate your retirement account?

Sorry for not making myself very clear. I am talking about for example several thousands of dollars that you have saved in your 401K account. I am not talking about paycheck. I am only referring to the employer being able to go into your 401K account they set up to dip their hand into it. Generally...
by RobInCT
Sat Oct 24, 2015 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Injury Claim for a Car Accident
Replies: 22
Views: 2091

Re: Personal Injury Claim for a Car Accident

It was a bit galling to think he was going to get that much money for what might have been writing a letter and talking to them on the phone a couple times, but he got the results I could not. In some cases, hiring a lawyer lets them know you're serious and can't be pushed around. It may be galling...
by RobInCT
Sat Oct 24, 2015 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: At what point did you and your spouse COMBINE your finances (or did you?)
Replies: 53
Views: 4110

Re: At what point did you and your spouse COMBINE your finances (or did you?)

Now that we are married I am wondering if for simplicity's sake I should just combine everything into one. 1 checking account, 1 credit account and one savings account. She has her retirement and I have mine and I have my own investments as well, but as far as liquid cash, should we just throw it a...
by RobInCT
Sat Oct 24, 2015 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Age when you started to max out your retirement accounts?
Replies: 111
Views: 13090

Re: Age when you started to max out your retirement accounts?

I think there's too much focus by some people around here about "maxing out your retirement accounts," for a number of reasons. For one, the "maxing out" amount is really just an arbitrary number set by the government that usually bears no more than minimal, if any, relationship ...
by RobInCT
Wed Oct 21, 2015 8:46 am
Forum: Personal Finance (Not Investing)
Topic: FAFSA / impact of remarriage / earning too much to get financial aid anyway?
Replies: 10
Views: 816

Re: FAFSA / impact of remarriage / earning too much to get financial aid anyway?

OP was asking for a general rule. Harvard (and others in its peer group) have the most generous financial aid in the country. So if you're looking for a general rule about at what point at which it's truly safe to say that someone earns too much to get any financial aid anyway, it's not a bad place ...
by RobInCT
Wed Oct 21, 2015 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Repaying 401k Loan Faster
Replies: 6
Views: 852

Re: Repaying 401k Loan Faster

Check your terms. Some allow it, some don't. There's no law against it, but your particular plan may have a rule against it. (And there's no law against having that rule.) My plan wouldn't allow me to increase my payroll deduction every month but would allow me to make additional, partial lump sum p...
by RobInCT
Mon Oct 19, 2015 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Is there an ideal age to retire?
Replies: 137
Views: 13260

Re: Is there an ideal age to retire?

I imagine that depends on what you're looking to retire to. If you're looking to retire to adventure travel (climbing Mt. Everest, skiing the Alps, etc.), then yes, I imagine it would be easier to adjust if you start earlier. If you're looking to retire to playing bridge, watching Netflix, and worki...
by RobInCT
Sun Oct 18, 2015 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Is there an ideal age to retire?
Replies: 137
Views: 13260

Re: Is there an ideal age to retire?

I have never met anyone who actually "loves" to go to their job everyday. That is a myth, or maybe people do not understand the meaning of "love." Those who claim they "love" their jobs, often bolt as far away as possible at first opportunity. Job is a necessity, and I...
by RobInCT
Sun Oct 18, 2015 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Credit card for teenage daughter - best option?
Replies: 46
Views: 3814

Re: Credit card for teenage daughter - best option?

Lastly, what's the practical difference from a "big brother" perspective between me getting alerted to her spending habits instantly and me checking in on them monthly when I log in to pay the bill? Checking the account once a month (or once a week) won't let you know that she didn't arri...
by RobInCT
Sun Oct 18, 2015 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Credit card for teenage daughter - best option?
Replies: 46
Views: 3814

Re: Credit card for teenage daughter - best option?

I have the AmEx app on my iPhone and it sends me a notification seconds after I've made a purchase with the place and amount. I'm hoping that I can have it set up to also get notifications of her spending, as well as have her iPhone get notifications of her spending (and only her spending). Obvious...
by RobInCT
Sat Oct 17, 2015 11:17 am
Forum: Personal Finance (Not Investing)
Topic: Pay off student loans or get 0% credit card transfer?
Replies: 5
Views: 639

Re: Pay off student loans or get 0% credit card transfer?

I did this with some of my student loans with no regrets BUT I had a high income that I felt relatively confident was stable for at least a few years and a crisis backup plan (basically, a loan from my parents) in case my feelings turned out to be incorrect. If you're positive you can pay it off, it...
by RobInCT
Sat Oct 17, 2015 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Who's in for One More Year (OMY) in 2016?
Replies: 15
Views: 1981

Re: I think I am

daveatca wrote:I am more in the One More Month club.
Every month means another $200/month in Social Security.

I'm confused. How is that possible? With that math if you worked 2 more years (24 months), you'd get $4800/month more in social security?
by RobInCT
Sat Oct 17, 2015 10:57 am
Forum: Personal Finance (Not Investing)
Topic: downside of autodeduct - now credit score dinged
Replies: 40
Views: 4719

Re: downside of autodeduct - now credit score dinged

I find it odd that they didn't email you until the account was already 30+ days overdue. I've occasionally had this happen to me over the years--one time when the company converted my old card into a new version of card and didn't carry the autopay setup over to the new card and another time when I ...
by RobInCT
Sat Oct 17, 2015 10:46 am
Forum: Personal Consumer Issues
Topic: Doctors without borders ..........
Replies: 43
Views: 4777

Re: Doctors without borders ..........

Thumbs up. I give to them every year. And they do tend to send a lot of physical mail, but they will taking you off the list if you request it.
by RobInCT
Mon Oct 12, 2015 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Six figure salary is not what it used to be-how to save for retirement?
Replies: 89
Views: 12788

Re: Six figure salary is not what it used to be-how to save for retirement?

I was going to say that there was probably only one income in the family. I was able to do the same when my wife was in school: maxed my 401k, a pair of Roth's, and HSA on my ~60k salary. Now that our income has slightly more than doubled and we have a few other necessity bills (ie. $1500/month in ...
by RobInCT
Mon Oct 12, 2015 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: Advise son to get secondary health insurance
Replies: 28
Views: 2991

Re: Advise son to get secondary health insurance

Have your son and DIL asked your advice about this? If not, I wouldn't go farther than casually mentioning that they check out their respective policies to see whether dual coverage makes sense for them.
by RobInCT
Mon Oct 12, 2015 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Six figure salary is not what it used to be-how to save for retirement?
Replies: 89
Views: 12788

Re: Six figure salary is not what it used to be-how to save for retirement?

Up until about three years ago, we earned half of what your salary is and maxed out our retirement accounts every year. We choose to live with less costs now so we can retire early. It all about choices and for us, retirement trumped a big house and lots of things. Respectfully, how were you saving...
by RobInCT
Mon Oct 12, 2015 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Hard to live well and save on $1mm in NYC Metro
Replies: 37
Views: 2790

Re: Hard to live well and save on $1mm in NYC Metro

Oh I assumed home in suburbs. I don't think a family of 4 can live in Manhattan in a decent school district for $1.5-2mm home value? Huh? You "assumed"? You mean this isn't an actual post about anyone's actual situation but rather a made-up scenario to illustrate.... the high cost of luxu...
by RobInCT
Mon Oct 12, 2015 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Hard to live well and save on $1mm in NYC Metro
Replies: 37
Views: 2790

Re: Hard to live well and save on $1mm in NYC Metro

How on earth are you paying $8k-$20k/year for 2 cars? You can buy 2 whole cars every year for that amount of money. Why do groceries cost $7k-$15k/year when the adults (and possibly the children, assuming food is included in that astronomical yearly tuition) seem to eat out at least 2 meals a day? L...
by RobInCT
Mon Oct 12, 2015 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Six figure salary is not what it used to be-how to save for retirement?
Replies: 89
Views: 12788

Re: Six figure salary is not what it used to be-how to save for retirement?

We contribute Roth and 401(K)s to the match of our companies 6%. So you are currently saving about 15% of your gross income for retirement - what's the problem? Right. Seems like OP is actually doing fine but feels "poor" because she's not doing super amazingly excellent. $110k for a fami...
by RobInCT
Mon Oct 12, 2015 4:52 am
Forum: Personal Finance (Not Investing)
Topic: Six figure salary is not what it used to be-how to save for retirement?
Replies: 89
Views: 12788

Re: Six figure salary is not what it used to be-how to save for retirement?

I understand why you want to max out your retirement (who wouldn't?), but not sure being able to do so is a reasonable benchmark of being "poor" with a $110k salary. Two 401ks + 2 IRAs = $44k/year. I question whether a 40% (44k/110k) savings rate is really a fair benchmark for a couple mak...
by RobInCT
Sun Oct 11, 2015 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Another 15-year vs. 30-year mortgage thread
Replies: 14
Views: 1650

Re: Another 15-year vs. 30-year mortgage thread

I wouldn't get a mortgage if it meant forgoing saving for retirement. To me that means maximizing any retirement plan at work, fully funding IRAs for both *and* saving a little bit extra in a taxable account. But I was (I'm now retired) an aggressive saver. We're fortunate in that we're both coming...
by RobInCT
Sun Oct 11, 2015 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Tips on how not to let bad relationship affect your career?
Replies: 4
Views: 852

Re: Tips on how not to let bad relationship affect your career?

Improve your relationship. I suggest marriage counseling.
by RobInCT
Sun Oct 11, 2015 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Another 15-year vs. 30-year mortgage thread
Replies: 14
Views: 1650

Re: Another 15-year vs. 30-year mortgage thread

I'm not going to give specific advice. However- moderation in everything, maybe 20 years is a sweet spot. Always plan for sudden expenses if you own a house, so don't use up absolutely all your cash. Avoiding PMI is a very good idea if you can manage it. If you get a longer mortgage you can choose ...
by RobInCT
Sun Oct 11, 2015 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Another 15-year vs. 30-year mortgage thread
Replies: 14
Views: 1650

Another 15-year vs. 30-year mortgage thread

In early 2016, my partner (age:33) and I (age: 36) will be moving from our current HCOL area back to the relatively LCOL city where I grew up. Part of this move will be buying our first-ever house. We've decided to forgo the typical advice to rent for a year first because we both have family in the ...
by RobInCT
Sat Aug 29, 2015 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Joint finances and cash management
Replies: 38
Views: 3600

Re: Joint finances and cash management

In this day of dual career couples, I imagine many successful marriages use some sort of system that gives each spouse some level of independent control over a portion of income. Agreed, though we like our system so much that if one of us ends up taking some time off from work--unemployment, kids, ...
by RobInCT
Sat Aug 29, 2015 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Joint finances and cash management
Replies: 38
Views: 3600

Re: Joint finances and cash management

I feel you are betting against your marriage if you maintain difference accounts. The only thing I wouldnt join is cosigning for student loans. Everything else should just be joined. I couldn't disagree more. My partner and I have three checking accounts between us--mine, hers, and ours. "Ours...
by RobInCT
Sat Aug 29, 2015 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: Large amount of cash reserves waiting for downturn?
Replies: 18
Views: 2588

Re: Large amount of cash reserves waiting for downturn?

Beginning a couple of years ago, I elected to keep my similar-time-horizon downpayment money in 1/3 Total Stock Market, 1/3 Total Bond Market, 1/3 Savings Account. Since then, I've been gradually lowering my stock exposure by adding new money to bonds and savings. Probably within the next year or tw...
by RobInCT
Thu Aug 13, 2015 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Is 401K Match included when someone asks you how much you make per year?
Replies: 47
Views: 4300

Re: Is 401K Match included when someone asks you how much you make per year?

If you are receiving a 9% match and the new company has a 4% match, that clearly is a difference of 5% in compensation. I know what you meant, but it's not a 5% difference in compensation. For round numbers, let's say you're making $180k salary, so it's $18k*9% vs $18k*4% = a difference of $900, or...
by RobInCT
Sun Jul 05, 2015 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Obsessing towards zero balance on credit card.
Replies: 158
Views: 15298

Re: Obsessing towards zero balance on credit card.

What again is the point of this? Fun and entertainment? There also seems to be a camp that believes that even having a balance on the card (even when balances are paid in full monthly) will result in some sort of terrible credit score consequences. Not 'terrible', but you can test it with Credit Ka...
by RobInCT
Sun Jul 05, 2015 8:52 am
Forum: Investing - Help with Personal Investments
Topic: When to invest in tillable land?
Replies: 8
Views: 1033

Re: When to invest in tillable land?

Consider whether the price of whatever grows on this land is heavily influenced by government policy (e.g. price supports, ethanol mandates, etc.). If so, you're gambling on the government. That's not a position I would want to be in.
by RobInCT
Sun Jul 05, 2015 8:45 am
Forum: Personal Finance (Not Investing)
Topic: What are our next steps? (Early 20's)
Replies: 6
Views: 947

Re: What are our next steps? (Early 20's)

I am going to disagree a bit with keeping the 6-month emergency fund. It sounds like your wife is the primary breadwinner at this point (i.e. you're not really dependent on your salary to pay the bills), and teachers have great job security, at least for the duration of the school year. At your ages...
by RobInCT
Sun Jul 05, 2015 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Borrowing money from my 401k
Replies: 26
Views: 2697

Re: Borrowing money from my 401k

I used a 401k loan to pay off some outrageous 8.5% interest rate federal student loans a few years ago. Paid back the 401k loan within 12 months. No regrets. That said, it's an imperfect solution for most people because of the risks associated with it, including the risk of losing one's job and havi...
by RobInCT
Sun Jul 05, 2015 8:13 am
Forum: Investing - Help with Personal Investments
Topic: Help deciding between Roth and regular retirement plans
Replies: 5
Views: 656

Re: Help deciding between Roth and regular retirement plans

Yes, she pays state income tax of around 4% (marginal rate). I agree it sounds like she's going to be in the 25% bracket. I guess the Roth isn't such a great deal after all.
by RobInCT
Sat Jul 04, 2015 10:06 pm
Forum: Investing - Help with Personal Investments
Topic: Help deciding between Roth and regular retirement plans
Replies: 5
Views: 656

Help deciding between Roth and regular retirement plans

My sister is starting a new job in a few weeks where there is a Roth retirement plan option and asked me to help her decide if it makes sense for her. Stats: mid-30s, one toddler with no current plans for more children, tax status is single HOH (she and the man I refer to as my BIL have been togethe...
by RobInCT
Sat Jul 04, 2015 9:22 pm
Forum: Personal Finance (Not Investing)
Topic: New home purchase - How much do I put down?
Replies: 9
Views: 1789

Re: New home purchase - How much do I put down?

It really depends on a lot of variables. I would not put down 30% if it will deplete your emergency reserves too much. Houses tend to cost more (roof, hot water heater, paint) than most first-time homeowners predict. Renovations can run over budget. I'd want a healthy reserve. On the other hand, a l...
by RobInCT
Sat Jul 04, 2015 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Longtime Insurance Customers Get Ripped [overcharged]
Replies: 106
Views: 18473

Re: Longtime Insurance Customers Get Ripped [overcharged]

There are other insurers who cover glass. GEICO give you the option of glass or no glass. As someone previously mentioned, windshields aren't really all that expensive. I declined glass coverage and prefer to self-insure for that, though if someone believes for whatever reason that s/he is more like...
by RobInCT
Tue Jun 23, 2015 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Moving to LCOL state
Replies: 19
Views: 2668

Re: Moving to LCOL state

Rent first. The amount of money you will be "throwing away" will pale in comparison to the amount you will lose if you buy too quickly without knowing the market/area well and end up having to move again within 2-5 years because you hate the neighborhood/schools/city/etc.
by RobInCT
Mon Jun 08, 2015 5:33 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Federal Employment
Replies: 86
Views: 11206

Re: Thoughts on Federal Employment

Just as many on this board caution against younger workers relying on social security in its current form and with its current levels of benefits to support their retirement, I'd caution against younger workers weighing federal retirement benefits too heavily in the decision about whether to take a...
by RobInCT
Sun Jun 07, 2015 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Federal Employment
Replies: 86
Views: 11206

Re: Thoughts on Federal Employment

From my friends in the federal government, I get the impression federal employment is a better match for those who already believe in the organizational mission of the agency they're working within and are interested in diligently carrying out that mission than it is for those who want an opportuni...
by RobInCT
Sun Jun 07, 2015 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Federal Employment
Replies: 86
Views: 11206

Re: Thoughts on Federal Employment

Just as many on this board caution against younger workers relying on social security in its current form and with its current levels of benefits to support their retirement, I'd caution against younger workers weighing federal retirement benefits too heavily in the decision about whether to take a ...
by RobInCT
Sun Jun 07, 2015 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Career advice: Passed over for unannounced position
Replies: 14
Views: 2753

Re: Career advice: Passed over for unannounced position

If you have a good relationship with your manager I might bring it up as something you'd like feedback on, including feedback on who the right person might be with whom to have the discussion. There are a range of options here, from colossal disorganization, e.g. the people making the decision didn'...

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