Search found 9445 matches

by The Wizard
Sat Mar 25, 2017 10:30 am
Forum: Personal Consumer Issues
Topic: Anyone replaced a pickup with an SUV?
Replies: 1
Views: 32

Re: Anyone replaced a pickup with an SUV?

My old Dodge minivan held 4-foot wide sheets when I took out the back seats, so I'm sure you'll find lots of full size SUVs that will do the same.
But I like my F-150 and plan to stay with it. It is 232" long however...
by The Wizard
Sat Mar 25, 2017 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Are Bogleheads in the minority on the use of investment advisors?
Replies: 58
Views: 3062

Re: Are Bogleheads in the minority on the use of investment advisors?

...I would make the argument that bogleheads diy's are actually getting routine financial advice through this forum... I basically agree. It's a sort of Continuing Education thing, even though most of us are just private citizens, not CFAs or CPAs. Depending on your starting point, it may take a ye...
by The Wizard
Sat Mar 25, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: IRA partial deduction with work and retired pension
Replies: 1
Views: 56

Re: IRA partial deduction with work and retired pension

I was in a similar situation a few years ago. What I did was contribute the max, now $6500, to my Roth IRA, non deductible​, obviously. But yes, you can split between a deductible tIRA and a non-deductible Roth IRA up to a total of $6500, subject to various limitations. So you could put $2000 in one...
by The Wizard
Fri Mar 24, 2017 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Are Bogleheads in the minority on the use of investment advisors?
Replies: 58
Views: 3062

Re: Are Bogleheads in the minority on the use of investment advisors?

deltaneutral83 wrote:[
I buy/sell my own cars (no dealerships/carmax/ etc etc)...

I'm curious how you buy your own cars without a dealership being involved.
Is there a website now?
Let's say I want to buy a new Mustang or F-150, factory ordered, built to my specification...
by The Wizard
Fri Mar 24, 2017 8:22 pm
Forum: Personal Consumer Issues
Topic: The Sweet Spot for Yearly Car Costs
Replies: 23
Views: 1376

Re: The Sweet Spot for Yearly Car Costs

I put about $1000 a month into my vehicle capital purchase account, but that's me.
This doesn't include oil changes and new wiper blades...
by The Wizard
Fri Mar 24, 2017 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Primary residence mortgage over the 1.1M mortgage interest deduction cap ... what to do?
Replies: 13
Views: 952

Re: Primary residence mortgage over the 1.1M mortgage interest deduction cap ... what to do?

malabargold wrote:Agree with many: buy an affordable house.

The OP didn't actually ask for advice at this level. His question had to do with taxes...
by The Wizard
Fri Mar 24, 2017 9:10 am
Forum: Investing - Help with Personal Investments
Topic: Help with Retirement Planning
Replies: 3
Views: 260

Re: Help with Retirement Planning

It looks well thought out for now, a textbook allocation actually.
Looking forward, you need to address where new contributions will be going as well.
Also look into a tax exempt bond fund. Vanguard has one for CA residents...
by The Wizard
Fri Mar 24, 2017 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Primary residence mortgage over the 1.1M mortgage interest deduction cap ... what to do?
Replies: 13
Views: 952

Re: Primary residence mortgage over the 1.1M mortgage interest deduction cap ... what to do?

Check page three of pub 527 on rental property. You can't deduct that excess refied interest on schedule E. I think you'll just have to live with being over the limit on mortgage interest for now. In a few years, you'll have paid the principal down to below $1.1M and the problem will be gone. And I'...
by The Wizard
Thu Mar 23, 2017 9:50 pm
Forum: Personal Consumer Issues
Topic: Where to live in Kansas City, student at UMKC
Replies: 4
Views: 380

Re: Where to live in Kansas City, student at UMKC

I would find a place on Brooklyn Ave, close to the late Arthur Bryant BBQ shop.
They have good food!
by The Wizard
Thu Mar 23, 2017 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 101
Views: 4296

Re: Vehicles as a percentage of net worth

Not in my NW calculation. Current cars worth under 10% gross annual income. When I have to buy a new one, I will try to keep the cost of that <10% gross income as well. For people with $300,000+ annual income, this seems doable. But 98% of the population needs a different formula. I still prefer a ...
by The Wizard
Thu Mar 23, 2017 11:09 am
Forum: Personal Consumer Issues
Topic: Need help with info about Portland
Replies: 14
Views: 884

Re: Need help with info about Portland

Try Airbnb as well...
by The Wizard
Thu Mar 23, 2017 11:07 am
Forum: Investing - Theory, News & General
Topic: Why nobody talk about cash allocation ?
Replies: 17
Views: 1841

Re: Why nobody talk about cash allocation ?

Some of us prefer to talk about cash DRAG rather than allocation...
by The Wizard
Thu Mar 23, 2017 10:56 am
Forum: Investing - Theory, News & General
Topic: The $1,124,176 Car.
Replies: 99
Views: 6815

Re: The $1,124,176 Car.

At age 25 a few years back, i bought my very first brand new car, a Saab 99. Purchase price was around $3600.
With educational loans I had, I'm pretty sure my net worth then was approximately zero.
And so it goes...
by The Wizard
Thu Mar 23, 2017 10:31 am
Forum: Investing - Theory, News & General
Topic: The $1,124,176 Car.
Replies: 99
Views: 6815

Re: The $1,124,176 Car.

ERISA Stone wrote:
lazydavid wrote:
ERISA Stone wrote:How many people are buying $50k BMWs at age 25?


I bought a $35k BMW at age 22, does that count?


It doesn't meet the $50k requirement.

Well, it depends on the year he bought it.
$35k in 2001 is probably equivalent to $50k in 2017...
by The Wizard
Thu Mar 23, 2017 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Pretirement
Replies: 18
Views: 1889

Re: Pretirement

No preretirement. I quit cold turkey in 2013, 5 days a week to zero. Now I did go back to work part-time for the same employer in 2016, for a whopping 400 hours total, so that was interesting. Also, I took a nine-week leave of absence back in my early 30s to drive around the US and do stuff. This wa...
by The Wizard
Thu Mar 23, 2017 9:55 am
Forum: Investing - Theory, News & General
Topic: The $1,124,176 Car.
Replies: 99
Views: 6815

Re: The $1,124,176 Car.

Lump sum discussions are often hypothetical and don't account for inflation. What matters is your monthly/annual cashflow breakdown. If you can put 20% to 25% of your gross income into long term retirement investments, you'll come out Just Fine down the road. Do that and you are welcome to spend any...
by The Wizard
Thu Mar 23, 2017 1:16 am
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 101
Views: 4296

Re: Vehicles as a percentage of net worth

I see so many people (who are not rich) blowing money on expensive cars. Even buying a 30K car versus an 18K car is a waste of money. And keep that car for at least 10 years! You save a lot on insurance as that car gets older. Doesn't that determination of wasted money depend a bit on the income le...
by The Wizard
Thu Mar 23, 2017 1:13 am
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 101
Views: 4296

Re: Vehicles as a percentage of net worth

You can include anything you want in your NW. How I look at my asset is up to me. Mostly true, but that misses my point that net worth is not especially relevant to car purchases for most working people. Percentage of income is a better metric, same as we talk about percentage of income going to re...
by The Wizard
Wed Mar 22, 2017 11:06 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal benefit for 65 year old divorcee
Replies: 11
Views: 886

Re: Spousal benefit for 65 year old divorcee

With respect to Elisa's comment that SS will not share information, if one's choice was somewhat predicated upon the amount of the restricted spousal benefit, how does one make an informed decision? They DO share information. I'm a qualified divorced spouse as well. I went in a year prior to FRA, g...
by The Wizard
Wed Mar 22, 2017 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 101
Views: 4296

Re: Vehicles as a percentage of net worth

If I am going to buy a $50k, after 30 years, it will be worth (for example) $zero. I wouldn't count it as net worth. I generally buy new car and drive it into the ground. The net worth proponents in this discussion are talking about their net worth excluding the vehicle in many cases. By that metri...
by The Wizard
Wed Mar 22, 2017 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 101
Views: 4296

Re: Vehicles as a percentage of net worth

Two relatively new cars. Roughly 0.01% of net worth. Can't imagine spending more. We both love our cars, a Prius and a Honda. Go figure. They are 0.01% of net worth. If your cars are worth $30,000, then you are worth 300 millions. We do have a number of wealthier than average folks on this forum...
by The Wizard
Wed Mar 22, 2017 10:39 pm
Forum: Personal Consumer Issues
Topic: Small appliance electrical safety
Replies: 37
Views: 1272

Re: Small appliance electrical safety

Exam question: what is the max permissible branch circuit ampacity in the US? I said branch circuit, not circuit dedicated to a hard wired appliance... You can get 100A NEMA receptacles, so I'm guessing at least that. In normal residential 110V practice, of course, it's either 15A or 20A, because (...
by The Wizard
Wed Mar 22, 2017 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal benefit for 65 year old divorcee
Replies: 11
Views: 886

Re: Spousal benefit for 65 year old divorcee

With respect to Elisa's comment that SS will not share information, if one's choice was somewhat predicated upon the amount of the restricted spousal benefit, how does one make an informed decision? They DO share information. I'm a qualified divorced spouse as well. I went in a year prior to FRA, g...
by The Wizard
Wed Mar 22, 2017 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Spousal benefit for 65 year old divorcee
Replies: 11
Views: 886

Re: Spousal benefit for 65 year old divorcee

Wouldn't it be interesting if it turns out that both you and your ex-spouse could file for for divorced spouse benefits on each others record and each leave your own retirement benefits until later. I wonder if that occurs very often since each divorced spouse must be unmarried to qualify. This is ...
by The Wizard
Wed Mar 22, 2017 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 101
Views: 4296

Re: Vehicles as a percentage of net worth

I too don't consider cars as net worth. I buy one when I need. The new car will be less than 50k. So as long as your net worth is > $5 Million, you'll fit in fine in this thread. Full disclosure: net worth, including your principal residence, is not the best metric that matters for a repeating cons...
by The Wizard
Wed Mar 22, 2017 9:53 pm
Forum: Personal Consumer Issues
Topic: Small appliance electrical safety
Replies: 37
Views: 1272

Re: Small appliance electrical safety

Exam question: what is the max permissible branch circuit ampacity in the US?
I said branch circuit, not circuit dedicated to a hard wired or dedicated appliance...
by The Wizard
Wed Mar 22, 2017 9:49 pm
Forum: Personal Consumer Issues
Topic: Small appliance electrical safety
Replies: 37
Views: 1272

Re: Small appliance electrical safety

Many of the posts on this thread are from people with next to no experience with proper electrical wiring or the National Electric Code.
Beware...
by The Wizard
Wed Mar 22, 2017 5:50 pm
Forum: Investing - Theory, News & General
Topic: CEFs beat Vanguard
Replies: 9
Views: 1136

CEFs beat Vanguard

This Forbes article talks about Closed End Funds that beat somewhat similar Vanguard index funds: https://www.forbes.com/sites/michaelfoster/2017/03/21/14-funds-that-crush-vanguard-and-yield-up-to-11-9/#488bf30c282a I don't know much about CEFs. Perhaps this is just cherry picking past performance a...
by The Wizard
Wed Mar 22, 2017 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Vehicles as a percentage of net worth
Replies: 101
Views: 4296

Re: Vehicles as a percentage of net worth

I consider autos an expense, not an asset. So let's look at it on an expense/cashflow basis then. Take just the purchase cost and amortize that over an expected ten year straight-line lifespan with zero residual value. Operating costs are separate. I have two vehicles, one bought for $25k, one for ...
by The Wizard
Wed Mar 22, 2017 3:00 pm
Forum: Personal Consumer Issues
Topic: How do I share internet with my neighbor?
Replies: 17
Views: 1328

Re: How do I share internet with my neighbor?

This forum tends to have zero tolerance for ethically compromised solutions...
by The Wizard
Wed Mar 22, 2017 1:26 pm
Forum: Investing - Help with Personal Investments
Topic: TIAA fees with R1 tier options
Replies: 8
Views: 266

Re: TIAA fees with R1 tier options

Move that Roth IRA away from TIAA to Vanguard.
TIAA doesn't want IRAs and charges it's highest ERs for them.
Now a 403(b) at TIAA is entirely different and can be low cost...
by The Wizard
Wed Mar 22, 2017 9:46 am
Forum: Investing - Theory, News & General
Topic: Very basic undertanding of taxable and tax-advantaged accounts
Replies: 12
Views: 689

Re: Very basic undertanding of taxable and tax-advantaged accounts

Terminology: the "rollover" of a 401(k) to your Roth IRA is a Roth CONVERSION, where the entire converted amount is taxed as normal income in the present year. Be careful on this. Plan ahead, know your tax brackets, and know where the extra $$ to pay the taxes on the conversion will be com...
by The Wizard
Wed Mar 22, 2017 9:12 am
Forum: Investing - Help with Personal Investments
Topic: Pay off debt or invest?
Replies: 6
Views: 520

Re: Pay off debt or invest?

If the debt is low interest rate, I would pay a good chunk more than the required minimum each month and invest the rest.

If the interest rate is high (CREDIT CARDS!) I would focus exclusively on that debt until it is gone...
by The Wizard
Wed Mar 22, 2017 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Alternative SSA Claiming Strategy--question for the group
Replies: 10
Views: 629

Re: Alternative SSA Claiming Strategy--question for the group

carolinaman wrote:Another issue with your claiming SS at 62 is the penalty for earned income. Income above $16,920 is taxed 50%...

I don't think you are stating this correctly...
by The Wizard
Tue Mar 21, 2017 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: What safe investment vehicle has the highest yield right now?
Replies: 14
Views: 1652

Re: What safe investment vehicle has the highest yield right now?

If you can get a job with the right college or other non profit employer, TIAA Traditional is paying 4.0% for new money right now. This is for long-term retirement money, not savings for a car or a house down payment... https://www.tiaa.org/public/investment-performance/tiaatraditional/profile?ticke...
by The Wizard
Tue Mar 21, 2017 8:59 pm
Forum: Personal Consumer Issues
Topic: What is your preferred Weather App?
Replies: 55
Views: 3085

Re: What is your preferred Weather App?

WeatherBug...
by The Wizard
Tue Mar 21, 2017 3:22 pm
Forum: Investing - Theory, News & General
Topic: Momentum on day of planned purchase
Replies: 12
Views: 725

Re: Momentum on day of planned purchase

I'm in mutual funds, not ETFs.

So for rebalancing, I'll often enter a transfer after 3pm Eastern, once I'm clear on the day's trend...
by The Wizard
Tue Mar 21, 2017 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: Use single fund for monthly RMD draws?
Replies: 6
Views: 562

Re: Use single fund for monthly RMD draws?

I take monthly fixed-amount withdrawals from my TIAA 403(b) accounts presently. These are taken prorata from all the investments in the particular account. I don't keep any funds in the TIAA MM fund since its expected return is really small. I'm not old enough for these withdrawals to be called RMDs...
by The Wizard
Tue Mar 21, 2017 2:04 pm
Forum: Investing - Help with Personal Investments
Topic: Can I minimize the Tax Torpedo and future Medicare costs?
Replies: 27
Views: 2151

Re: Can I minimize the Tax Torpedo and future Medicare costs?

Be aware that "The Hump" occurs much later, than age 72. I'm not sure this spreadsheet will help you with that. In my case, it generated taxes at 35% for 5 years on $351k of w/d from IRA. That is what I'm using I-ORP to solve for. Good point, I suppose I could extend mine out to age 80 or...
by The Wizard
Tue Mar 21, 2017 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Can I minimize the Tax Torpedo and future Medicare costs?
Replies: 27
Views: 2151

Re: Can I minimize the Tax Torpedo and future Medicare costs?

...Great idea. I like this. I need to create a similar spreadsheet. Q: Are you converting significant IRAs pre-70.5 to reduce lifetime RMDs (or eliminate them altogether at a later age)? Q: Are you managing AGI to stay within a given elevated MEdicare tier? Zag My tax deferred sum is a 403(b) not a...
by The Wizard
Tue Mar 21, 2017 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: Inlaw Suddenly Wants Financial Security in 60's..
Replies: 27
Views: 4028

Re: Inlaw Suddenly Wants Financial Security in 60's..

There are too many issues for a newbie to assimilate to be reasonably successful at do it yourself investing, assuming they presently have an Edward Jones kinda guy handling their investments. I think the only viable exit path is if the person him/herself shows the motivation to learn more and ask q...
by The Wizard
Tue Mar 21, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: Inlaw Suddenly Wants Financial Security in 60's..
Replies: 27
Views: 4028

Re: Inlaw Suddenly Wants Financial Security in 60's..

I think if you talk with someone who has already talked to a salesman the best thing to do is say things like. "I bet he made you feel really comfortable, was a really nice person, told you that you were making the right decision etc... Did he ONLY want to charge you 1% a year, that sounds rea...
by The Wizard
Tue Mar 21, 2017 9:48 am
Forum: Investing - Help with Personal Investments
Topic: Can I minimize the Tax Torpedo and future Medicare costs?
Replies: 27
Views: 2151

Re: Can I minimize the Tax Torpedo and future Medicare costs?

I'm in similar situation, age 67, and in an elevated Medicare tier. While Bigfoot's spreadsheet may be useful, I made my own single-page spreadsheet covering my first ten Retirement years, age 63 to 72. The main rows in my sheet are income streams that start and stop at different times. For instance...
by The Wizard
Tue Mar 21, 2017 9:05 am
Forum: Investing - Help with Personal Investments
Topic: Pre-Retirement Income & Post Retirement Expenses
Replies: 15
Views: 911

Re: Pre-Retirement Income & Post Retirement Expenses

Need and want are two different things in retirement. It's better to have more income in retirement to allow more options and flexibility with increased free time. I retired in March, 2013. I've created a spreadsheet with my Federal AGI, taxable income, and tax from 2010 onwards. All three of these ...
by The Wizard
Tue Mar 21, 2017 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Gross Yearly Income needed in Retirement (Speculation)
Replies: 194
Views: 20837

Re: Gross Yearly Income needed in Retirement (Speculation)

Gross income NEEDED and gross income DESIRED are two different things.
Having more than needed gives one flexibility and options...
by The Wizard
Mon Mar 20, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth IRA conversion - is my technique allowed?
Replies: 12
Views: 972

Re: Backdoor Roth IRA conversion - is my technique allowed?

...I was trying to follow Morningstar's recommendation- to keep Traditional IRA for a few months, pay tax on any gains so that it doesn't appear your intent was to immediately convert it into Roth IRA. We've discussed this in other threads. It's perfectly legal​ to contribute $5500 to your empty tI...
by The Wizard
Mon Mar 20, 2017 2:53 pm
Forum: Personal Consumer Issues
Topic: Best way to expand my vocabulary?
Replies: 79
Views: 3199

Re: Best way to expand my vocabulary?

Read "The New Yorker" Even the restaurant reviews are superbly written. I have also learned a great deal from the various articles. It's the only magazine I will read. I said it first! :) https://www.bogleheads.org/forum/viewtopic.php?f=11&t=214242#p3289762 That being said, The Atlant...
by The Wizard
Mon Mar 20, 2017 9:17 am
Forum: Personal Consumer Issues
Topic: A SUV for towing a Travel Trailer
Replies: 63
Views: 3215

Re: A SUV for towing a Travel Trailer

Frisco Kid wrote:One could argue only vehicles with full frames are TRULY designed for towing IMHO.....................

Are you saying that some vehicles come with no frame?
by The Wizard
Mon Mar 20, 2017 8:53 am
Forum: Investing - Theory, News & General
Topic: Roth Conversion and Strategy
Replies: 13
Views: 979

Re: Roth Conversion and Strategy

As previously mentioned, I don't think there is an ideal percentage. A good guideline would be to try to stay in the 15% tax bracket or lower throughout one's retirement. I like to think in terms of a constant level of spendable income (income after taxes). The 15% bracket simply isn't possible for...
by The Wizard
Mon Mar 20, 2017 8:20 am
Forum: Personal Consumer Issues
Topic: Best way to expand my vocabulary?
Replies: 79
Views: 3199

Re: Best way to expand my vocabulary?

Read The New Yorker magazine on a regular basis.
And research any totally new/strange words you come across using your smartphone...

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