Search found 8801 matches

by Watty
Mon Sep 26, 2016 10:10 am
Forum: Investing - Help with Personal Investments
Topic: Retirement options advice
Replies: 19
Views: 1814

Re: Retirement options advice

Volidon wrote:Fair enough, I can't deduct 401k contributions anyway as I'm not participating in a 401k plan but based on this a traditional IRA sounds more appealing. I'll crunch some numbers on this. Thanks


If the other plans are pre-tax like a 401k then I would think that they would be treated the same way.
by Watty
Sun Sep 25, 2016 11:40 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement options advice
Replies: 19
Views: 1814

Re: Retirement options advice

• State of Residence: GA ...... 1. I’m looking to rollover my previous 401k to a Roth IRA at Vanguard to avoid fees Wells Fargo is charging me. Any negatives going with this option? I’m aware of paying taxes on this when filing taxes and have the funds to do so. If you are likely to retire in Georg...
by Watty
Sun Sep 25, 2016 11:11 pm
Forum: Investing - Help with Personal Investments
Topic: Traditional versus Roth 401k question accounting for social security and one pension and a beneficiary IRA
Replies: 18
Views: 722

Re: Another Traditional versus Roth 401k question accounting for social security and one pension and a beneficiary IRA

I'm just worried that at age 70.5 we're going to have huge amounts of money in Traditional and going to take far more in RMD's than we want to take. We can mitigate some of this, of course, by IRA Qualified Charitable Contributions. At the age of 70.5 the RMD only starts out at 3.65% or $36,500 for...
by Watty
Sun Sep 25, 2016 10:02 pm
Forum: Personal Consumer Issues
Topic: Three Full Days in Asheville, NC - Help for First Timers
Replies: 20
Views: 899

Re: Three Full Days in Asheville, NC - Help for First Timers

If you are there when the fall colors are anywhere near their peak then a drive on the Blueridge Parkway could be very nice. https://weather.com/maps/fall-foliage This is a true story that you could not make up. In 2008 we went up to Asheville to see the fall colors. We drove into the downtown area ...
by Watty
Sun Sep 25, 2016 9:15 pm
Forum: Investing - Help with Personal Investments
Topic: Traditional versus Roth 401k question accounting for social security and one pension and a beneficiary IRA
Replies: 18
Views: 722

Re: Another Traditional versus Roth 401k question accounting for social security and one pension and a beneficiary IRA

Contributions: $18,000 to his Traditional 403b $5,500 to his Roth IRA $5,500 to her Roth IRA 38% of your new contributions are already going into Roth accounts. You are in the 25% federal tax bracket now and, at least under current laws, the next higher tax federal tax bracket is only 28% so a 3% b...
by Watty
Sun Sep 25, 2016 8:31 pm
Forum: Investing - Help with Personal Investments
Topic: How to make $500 a month out of $30000
Replies: 7
Views: 2258

Re: How to make $500 a month out of $30000

I'm just curious if you had any better ideas for reaching that $500 monthly goal. It might be easier to bridge at least part of the $500 a month gap by reducing some other expenses or doing something like getting rid of a second car. Some part time job or working through a temp agency might provide...
by Watty
Sun Sep 25, 2016 8:02 pm
Forum: Investing - Theory, News & General
Topic: Investing to Avoid the Consequences of Being Wrong
Replies: 27
Views: 3023

Re: Investing to Avoid the Consequences of Being Wrong

Great article. Thanks for sharing. My favorite parts: We all evolved from people who evolved over 5,000 or 10,000 years from settled farmers. Very few of us evolved directly from Genghis Khan. We evolved from people who ran farms. The time horizon then was crop cycles, which is about a year. That’s...
by Watty
Sat Sep 24, 2016 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: A Re-Financing No-Brainer, right???
Replies: 13
Views: 1315

Re: A Re-Financing No-Brainer, right???

SuperSaver wrote:We also have $180k in a taxable account.


Since you have the funds to easily pay them then I would not roll the refinance costs into the loan. I don't see any good reason to pay the interest on the fees for the next 20 years.
by Watty
Sat Sep 24, 2016 10:27 pm
Forum: Investing - Help with Personal Investments
Topic: 75-year-old widowed retiree
Replies: 8
Views: 1487

Re: 75-year-old widowed retiree

My mom has come into about $250k. This is essentially her entire net worth, the other assets being her home in Florida which is worth maybe $20k and a car worth $10k. Unless that is a typo a $20K home must be something like a low end mobile home. Would it make sense for her to upgrade to something ...
by Watty
Sat Sep 24, 2016 10:06 pm
Forum: Personal Consumer Issues
Topic: Daughter will study abroad in ireland need advice
Replies: 12
Views: 1147

Re: Daughter will study abroad in ireland need advice

If she is not getting a dorm or apartment through the study program then be cautious with renting a place for her. I know someone that is teaching English as a foreign language at several places around the world and the apartment she lined up in Prague was a total scam so she was out a good amount o...
by Watty
Sat Sep 24, 2016 9:29 pm
Forum: Personal Consumer Issues
Topic: Cancun, Grand Cayman or Other Caribbean Islands
Replies: 26
Views: 1688

Re: Cancun, Grand Cayman or Other Caribbean Islands

One other thing, It is likely best not to rent a car on your first trip to Mexico, especially if you don't speak Spanish. The taxis are very inexpensive and all the drivers we had spoke at least a little English. You can also hire a taxi for the day or by the hour for a very reasonable price to have...
by Watty
Sat Sep 24, 2016 9:15 pm
Forum: Personal Consumer Issues
Topic: Cancun, Grand Cayman or Other Caribbean Islands
Replies: 26
Views: 1688

Re: Cancun, Grand Cayman or Other Caribbean Islands

Cancun is nice and the weather is great. Plenty of opportunities to party, but I'm sure not your thing with a young child along. I liked Riviera Maya better. it just seemed more grown up and less "wild". +1 on Riviera Maya over Cancun. One problem with Cancun is that the waves can be very...
by Watty
Sat Sep 24, 2016 8:34 pm
Forum: Investing - Help with Personal Investments
Topic: Ready to push the easy button on investements: Portfolio review
Replies: 10
Views: 1204

Re: Ready to push the easy button on investements: Portfolio review

the taxes and college savings issue is my next item to fix... I will need at least 100k for the oldest for a four year degree at today's prices One thing to keep in mind is that you don't need to have it all at once. It looks like your oldest will start college in about three years in 2019 and your...
by Watty
Sat Sep 24, 2016 8:12 pm
Forum: Personal Consumer Issues
Topic: Anybody here make 70K or under
Replies: 27
Views: 4324

Re: Anybody here make 70K or under

Adjusted for inflation for most of my career I made a bit more than that but I never maxed out my 401k and I was able to retire last year just before I turned 59. The amount needed to max them out is a pretty arbitrary number and for people with a middle class income it really isn't necessary or rea...
by Watty
Sat Sep 24, 2016 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: 401k Employeer MISSING Matching funds
Replies: 7
Views: 827

Re: 401k Employeer MISSING Matching funds

Reading your post, it sounds as if no employee has received the matching funds contribution. If that is the case, perhaps the employer has modified the 401k plan to eliminate the matching funds. Employers have been known to eliminate the matching funds contributions when they are in financial troub...
by Watty
Sat Sep 24, 2016 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: How Much House Can I Afford (HCOL edition)
Replies: 21
Views: 2063

Re: How Much House Can I Afford (HCOL edition)

At some point it isn't about what you can afford. It is about what you want to spend. +1 You could pretty much buy the $2.5 million house for cash if you wanted. Since buying an expensive house is a spending choice I would be hesitant to take out a huge mortgage for a luxury item like that to live ...
by Watty
Sat Sep 24, 2016 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Ready to push the easy button on investements: Portfolio review
Replies: 10
Views: 1204

Re: Ready to push the easy button on investements: Portfolio review

Debt: 280K mortgage @ 3% plan to pay off in 10 yrs ... Total portfolio 1.4MM .... 35% cash (1% return savings) There is not a consensus here about what is theoretically best in deciding if you should pay off a mortgage or try to invest the money for a higher return but for someone that was recently...
by Watty
Sat Sep 24, 2016 10:11 am
Forum: Personal Consumer Issues
Topic: Would you buy this house in a flood zone? HELP!
Replies: 56
Views: 2748

Re: Would you buy this house in a flood zone? HELP!

FEMA said that it means that there is a 1% chance annually of a significant flood. That would would mean that if you live in the house for 25 years then there is about a 25% chance of you being flooded while you live in the house. No, it doesn't. Statistics don't work that way. I live in the worst ...
by Watty
Sat Sep 24, 2016 12:08 am
Forum: Personal Consumer Issues
Topic: Would you buy this house in a flood zone? HELP!
Replies: 56
Views: 2748

Re: Would you buy this house in a flood zone? HELP!

FEMA said that it means that there is a 1% chance annually of a significant flood. That would would mean that if you live in the house for 25 years then there is about a 25% chance of you being flooded while you live in the house. We found some reasonably priced flood insurance for $600 per year. U...
by Watty
Fri Sep 23, 2016 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Cosigning a new car lease for sister out of state
Replies: 67
Views: 3013

Re: Cosigning a new car lease for sister out of state

It baffles me why your sister is leasing a car. If she has CASH for FOUR years of lease payments, why not buy a used car and pay cash? +1000 especially since it sounds like she has bad credit possibly from past bad decisions. Leasing a car is usually a very bad idea unless there is a special situat...
by Watty
Fri Sep 23, 2016 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Buy a new house with cash? Please advise
Replies: 26
Views: 3086

Re: Buy a new house with cash? Please advise

We purchased our current home in 2012 and the value has gone up quite nicely. I am considering following options: A) Buy a new house and rent our current house. Two possible show stoppers on that idea. 1) With the capital gains you likely qualify for the homeowners capital gains exclusion so if you...
by Watty
Fri Sep 23, 2016 7:13 am
Forum: Personal Consumer Issues
Topic: How is your experience about buying home in SF bay area?
Replies: 18
Views: 2242

Re: How is your experience about buying home in SF bay area?

Well, if earthquake happen, I might have a chance to get a better option. When I lived there I did some research and my best guess was that if I bought a house there it might have significant earthquake damage once in 200 years.(Be sure to do your own research). That does not sound too bad but if y...
by Watty
Thu Sep 22, 2016 10:03 pm
Forum: Personal Consumer Issues
Topic: How is your experience about buying home in SF bay area?
Replies: 18
Views: 2242

Re: How is your experience about buying home in SF bay area?

It seems like lots of people believe SF bay area real estate will never going down, because of its limited space and great tech giants, with some prestigious universities. ..... especially after 2010, 2010 is a bad starting date since that is about the time that mortgage rates dropped to levels tha...
by Watty
Thu Sep 22, 2016 8:32 am
Forum: Personal Consumer Issues
Topic: Companies that buy homes for cash- good or bad?
Replies: 13
Views: 1330

Re: Companies that buy homes for cash- good or bad?

You would probably get more selling it "as is" through a Realtor or however. But, that may not be all that easy if it's really run down. even at that it isn't selling. It in a great neighborhood, its not 'run down', but the basement needs some work. I think people walk into a home like th...
by Watty
Wed Sep 21, 2016 11:52 pm
Forum: Personal Consumer Issues
Topic: Idea for an App ?
Replies: 7
Views: 753

Re: Idea for an App ?

There probably isn't much commercial value but if you are just looking for something fun to program you might write an app that would allow people to figure out what to correctly call a distant family relation. For example I had to look up what someone would call a nephews son. That would be a grand...
by Watty
Wed Sep 21, 2016 11:19 pm
Forum: Personal Consumer Issues
Topic: Companies that buy homes for cash- good or bad?
Replies: 13
Views: 1330

Re: Companies that buy homes for cash- good or bad?

Have inherited a home in a smaller town (value under $150k), house has been sitting awhile, it needs improvements, getting to the point where it starts to drain itself of value. An alternative that I have heard of is basically setting up a reverse auction to get rid of the house. You could play wit...
by Watty
Wed Sep 21, 2016 11:02 pm
Forum: Investing - Help with Personal Investments
Topic: Starting to Invest
Replies: 15
Views: 913

Re: Starting to Invest

Should I just put all my investment into the 403 (b) or would it make more sense to put some into 403 (b) then open an IRA? I am in the 25% tax bracket so a Roth would make more sense than a traditional IRA? (I have my emergency funds as cash in FDIC account enough for 8-10 months). In the 25% tax ...
by Watty
Wed Sep 21, 2016 10:44 pm
Forum: Investing - Help with Personal Investments
Topic: 401(K) asset allocation - pitfalls in putting 90% of it on BRK-B
Replies: 6
Views: 693

Re: 401(K) asset allocation - pitfalls in putting 90% of it on BRK-B

I have not looked at it in a while but isn't it heavily over-weighted in insurance and financial companies?
by Watty
Wed Sep 21, 2016 10:26 pm
Forum: Investing - Help with Personal Investments
Topic: Need advice on mortgage principal prepayment
Replies: 16
Views: 1889

Re: Need advice on mortgage principal prepayment

If you do decide to pay down the mortgage then you should contact your lender and ask them if they will "recast your mortgage" (google this). They are not required to do this but they often will and it should just cost a couple of hundred dollars in processing fees. What this does is that ...
by Watty
Wed Sep 21, 2016 10:01 pm
Forum: Personal Consumer Issues
Topic: First time negotiating for a car. Have questions
Replies: 27
Views: 1940

Re: First time negotiating for a car. Have questions

The last two new cars I bought I got the deal over the internet. One most of the car dealers web sites they will have an internet sales contact. Get the financing lined up first through someplace like a local credit union. Then email about ten of the dealers telling them that you are ready to buy an...
by Watty
Tue Sep 20, 2016 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: 25X Expenses/Pensions
Replies: 8
Views: 1058

Re: 25X Expenses/Pensions

In my opinion it is best to estimate taxes in a dummy tax return because the actual cost is very specific to details. One should also include state tax. Doing estimates for far future years requires some finagling with inflation adjustments to cut points and assumptions about what the future tax st...
by Watty
Tue Sep 20, 2016 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: "Women and Investing" class offered by Employer
Replies: 82
Views: 5396

Re: "Women and Investing" class offered by Employer

I worked in a nursing home for several summers when I was in college and a large majority of the residents were female. I quick google search indicates that it is about 74% female. https://www.ahcancal.org/ncal/resources/pages/residentprofile.aspx In addition to living longer than men it is pretty c...
by Watty
Tue Sep 20, 2016 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Are Roth contributions the right thing to do?
Replies: 8
Views: 1136

Re: Are Roth contributions the right thing to do?

That is part of my point, does the tax bracket really matter in this case. “IF” you are planning to put money into your Roth anyway, wouldn’t that money be better used to pay the taxes on a conversion! If you are in the 25% bracket you will most likely be in the 27.75% marginal bracket or even the ...
by Watty
Tue Sep 20, 2016 9:49 pm
Forum: Personal Consumer Issues
Topic: Loan on $1.3MM Fixer-upper
Replies: 46
Views: 3901

Re: Loan on $1.3MM Fixer-upper

I expect to replace plumbing ($10k), ducting($10k),HVAC($10k), kitchen($50k), windows ($20k including double doors) and flooring($45k). We may also reconfigure the master bedroom and add a closet and bath ($20k?). All this is already $165k - I've budgeted $200k, and with a 15% contingency, that's $...
by Watty
Tue Sep 20, 2016 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Prepay Mortgage: Does the length of time you live in the home matter?
Replies: 29
Views: 2654

Re: Prepay Mortgage: Does the length of time you live in the home matter?

I have not seen the argument discuss amortization. I don't have a link handy but as recall the people move on average every seven years so I don't see the length of your mortgage as being a big factor in your decision. There is a wiki on this if you have not seen it. https://www.bogleheads.org/wiki...
by Watty
Tue Sep 20, 2016 7:36 am
Forum: Personal Finance (Not Investing)
Topic: Pension Lump Sum - Age 32
Replies: 18
Views: 2091

Re: Pension Lump Sum - Age 32

I'd take the cash in hand. 33 years is a long ways away. +1 If you had an extra $26,600 sitting in an IRA you likely would not be the least bit tempted to buy a deffered annuity that pays out $695 a month at 65 even if it was mathematically a good deal. That is really the same question. I can't pre...
by Watty
Tue Sep 20, 2016 7:12 am
Forum: Personal Consumer Issues
Topic: Loan on $1.3MM Fixer-upper
Replies: 46
Views: 3901

Re: Loan on $1.3MM Fixer-upper

You could also check to see if the seller will carry a note on the property for a year.
by Watty
Tue Sep 20, 2016 6:57 am
Forum: Personal Finance (Not Investing)
Topic: Are Roth contributions the right thing to do?
Replies: 8
Views: 1136

Re: Are Roth contributions the right thing to do?

What are the flaws with this logic? You would be locking in a 33% tax rate and you would only come out ahead if you(or whoever inherits it) eventually withdraws the money in an even higher tax bracket. For example if you put the money in a Roth and they both grew to be ten time as large then you wo...
by Watty
Tue Sep 20, 2016 6:39 am
Forum: Investing - Help with Personal Investments
Topic: What should my parents do? (Europe)
Replies: 5
Views: 538

Re: What should my parents do? (Europe)

Will the survivor get the full pension if one of them dies? I feel like they spend their whole life paying off one mortgage and that's just sitting there -- dead money. I need to find a way to activate it It is not dead money, it is currently allowing them to live in the house rent free so the retur...
by Watty
Mon Sep 19, 2016 10:40 pm
Forum: Investing - Help with Personal Investments
Topic: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]
Replies: 12
Views: 1503

Re: A Friend Asked Me - Ponzi or Not? [1st position commercial mortgage notes]

One thing to watch out for is that sometimes the X% return on things like that includes return of capital and not just interest. It could be that the 6% could really just be 2% interest and 4% of your own money being returned. has been running banner ads in the Ft. Lauderdale (Florida) Sun-Sentinel....
by Watty
Mon Sep 19, 2016 10:30 pm
Forum: Personal Finance (Not Investing)
Topic: Is there a point when a used car is too used to be worth buying?
Replies: 43
Views: 3155

Re: Is there a point when a used car is too used to be worth buying?

It really varies by the model. My basic plan is to buy new cars with good reliability history and keep them for ten years then sell them. For me this is typically a Honda or Toyota and they don't depreciate very fast so you can sell a ten your old one for a surprising amount. They are reliable enoug...
by Watty
Mon Sep 19, 2016 10:21 pm
Forum: Investing - Help with Personal Investments
Topic: Should I make Roth or Traditional 401k contributions?
Replies: 5
Views: 316

Re: Should I make Roth or Traditional 401k contributions?

There is a wiki on this. https://www.bogleheads.org/wiki/Traditional_versus_Roth Four things to consider. 1) The choice is not really the Roth vs Traditional, for someone in the 25% tax bracket the choice is something like; a) Put $1000 in a Roth and pay $250 in taxes. b) Put $1000 in a traditional ...
by Watty
Mon Sep 19, 2016 9:06 pm
Forum: Personal Consumer Issues
Topic: Last minute Portland trip, need help
Replies: 23
Views: 1479

Re: Last minute Portland trip, need help

I just want to see some beauty and stay somewhere nice. Not more than $300 a night. SO sick of the heat here in Texas. It's 96 degrees right now. Bend is dry ranch country. Great area, but if you want something different from Texas, go to the coast. I'd second the Astoria suggestion and add nearby ...
by Watty
Mon Sep 19, 2016 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in retirement - cash or mortgage?
Replies: 10
Views: 987

Re: Buying a house in retirement - cash or mortgage?

One problem with a mortgage is all the costs with getting a mortgage. I have not done it but apparently it is possible to purchase a home using a home equity loan with lower loan origination costs. I did not try to crunch the numbers but if you can do that then I would look at buying the home with a...
by Watty
Mon Sep 19, 2016 11:38 am
Forum: Investing - Help with Personal Investments
Topic: New to investment - age 70
Replies: 22
Views: 2418

Re: New to investment - age 70

We've owned the house since 1980 and the current bathrooms and kitchen are over 50 years old. So we will probably do some remodeling. Seems like a good idea. :D +1 If they date from the 1960's then they are due for a remodel, or at least a major refresh. Oddly though they may be so dated that they ...
by Watty
Mon Sep 19, 2016 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Anyone accidentally tell a friend about your inheritance?
Replies: 83
Views: 8982

Re: Anyone accidentally tell a friend about your inheritance?

Being frugal is great but the hard part is getting a healthy balance in your "now vs later" choices in spending money. I know its not the end of the world, and i don't think he would tell anyone, but i can see it affecting our relationship already. He's asked me to start doing stuff with h...
by Watty
Mon Sep 19, 2016 9:23 am
Forum: Personal Consumer Issues
Topic: Cities like New Orleans?
Replies: 112
Views: 5092

Re: Cities like New Orleans?

I read (somewhere) that the "hip" New Orleanist (word?) actually goes somewhere else than the French Quarter? The trendy has actually moved somewhere else? FQ is for naive tourists? You may be thinking of the Garden District. On a tour of that part of town the tour guide pointed out many ...
by Watty
Mon Sep 19, 2016 9:19 am
Forum: Personal Consumer Issues
Topic: Cities like New Orleans?
Replies: 112
Views: 5092

Re: Cities like New Orleans?

When I was in New Orleans we got lost and the GPS directed us through some areas that were pretty scary even in the daytime. If you do decide to move there then rent for a year while you learn the different parts of town. Natchez Mississippi has a lot of preserved houses but they are usually separat...
by Watty
Sun Sep 18, 2016 9:40 pm
Forum: Investing - Help with Personal Investments
Topic: Transfer Emergency Fund Into iBonds!
Replies: 23
Views: 1715

Re: Transfer Emergency Fund Into iBonds!

One thing to look at is how old you will be in 30 years when the iBonds mature and need to be cashed and taxed. If you are younger then they might mature while you are still working at the peak of your career and in a high tax bracket. They could also mature during your early retirement years when y...

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