Search found 841 matches

by basspond
Wed Aug 23, 2017 11:20 am
Forum: Investing - Help with Personal Investments
Topic: How to Calculate Employer's Match Towards Total Goal
Replies: 12
Views: 667

Re: How to Calculate Employer's Match Towards Total Goal

The mistake in counting the company match is that you are not accurately stating your savings rate. Not only will your nest egg be bigger if you don't count it, most importantly it will be an incentive to keep your expenses down.
by basspond
Mon Aug 21, 2017 5:30 pm
Forum: Investing - Help with Personal Investments
Topic: Which loan to pay off?
Replies: 17
Views: 1187

Re: Which loan to pay off?

Loan B because they are both the same amount and B has a higher interest rate.
by basspond
Mon Aug 21, 2017 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: 1M USD net worth, 60K USD annual expenses [UK]
Replies: 19
Views: 2747

Re: 1M USD net worth, 60K USD annual expenses [UK]

Valuethinker, can you elaborate on why, from a tax perspective, it would be a bad idea to gift the 250K USD to my wife as a US citizen? I believe that your gift would be based on U.K. tax laws. So if there is none you should be fine. If you were US citizen gifting to non-US spouse there is an annua...
by basspond
Mon Aug 21, 2017 2:10 pm
Forum: Investing - Help with Personal Investments
Topic: My girlfriend and her 401K, need to give her advice
Replies: 61
Views: 4657

Re: My girlfriend and her 401K, need to give her advice

She was in fixed income, i.e., money market. How did that give her benefit of bull bond market? Also, I've never been married, nor have any desire to ever do so, so my assets are not a consideration. Stay clear then. You will be telling her what to do with her money but won't commit. That is not go...
by basspond
Sun Aug 20, 2017 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Real estate vs stock market returns: some unbiased numbers
Replies: 18
Views: 2070

Re: Real estate vs stock market returns: some unbiased numbers

There are a lot of risk factors that will skew both numbers. However, the biggest one is investing in only one. Would you put most of your money into one stock? Real estate investment can and does work for many but you have to be careful and there is a lot of sweat equity not accounted for. And like...
by basspond
Sat Aug 19, 2017 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Accumulation phase: Roth vs Traditional IRA?
Replies: 13
Views: 1089

Re: Accumulation phase: Roth vs Traditional IRA?

I would just start to contribute to her Roth. Too much of a tax hit and I am a believer in having diversity in your portfolio by tax liability buckets, taxed, Roth and traditional IRA.
by basspond
Fri Aug 18, 2017 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Coming up with plan
Replies: 7
Views: 948

Re: Coming up with plan

headingboogle wrote:
Fri Aug 18, 2017 10:16 pm
Is it too early to refi after only 1 year in the mortgage? The mortgage does not have PMI, but instead I settled for a higher rate.
Never too early. One of the best financial decisions we made was to refinance to a 15 year from 30 year a little over a year after initial mortgage.
by basspond
Fri Aug 18, 2017 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Chase for everyday banking
Replies: 42
Views: 4727

Re: Thoughts on Chase for everyday banking

Very pleased so far after 5+ years. Works great that we were able to link children's accounts. Many locations and no fee ATMs. Have premium account that requires a $15K minimum but most services are free including cashier's checks. Transferred a CD into a conservative growth fund that is counted as ...
by basspond
Fri Aug 18, 2017 4:02 pm
Forum: Investing - Help with Personal Investments
Topic: How do you know how much your portfolio lost/gain in one day?
Replies: 31
Views: 1414

Re: How do you know how much your portfolio lost/gain in one day?

Spreadsheet with all my positions and accounts. Once you set it up very easy to maintain and update.
by basspond
Fri Aug 18, 2017 12:14 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 183
Views: 15033

Re: Lost $7000 today in ONE DAY!

Take the $0.50 and invest. Save on expenses and keep on saving, investing and plugging away. I have talked to several "run for the hills" investors who bailed because of the feeling you have now and lost so much opportunity growth because they couldn't time getting back in.
by basspond
Thu Aug 17, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 9595

Re: Anyone planning on never retiring?

So, I have two close relatives who serve as role models for the downsides of retirement. I plan to keep working until I'm dead or no longer able. Hope what happened to your parents doesn't happen to you. But it sounds like you are on the same course. Remember insanity is doing something the same an...
by basspond
Thu Aug 17, 2017 4:22 am
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 9595

Re: Anyone planning on never retiring?

The most meaningful part in a lot of people's lifes are their profession. It's easy to fall into that trap because of the money and the time one spends on their job. I feel sorry for a lot of people who rely on their job for their satisfaction or meaning in life. I retired as early as I could and I ...
by basspond
Tue Aug 15, 2017 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Plan for making child pay for part of college
Replies: 111
Views: 5318

Re: Plan for making child pay for part of college

Have you communicated to your children they are expected to pay? It is sort of late in the game if you drop this on them now. We told ours we would pay and their job is to make good grades, be active in their faith walk, and volunteer. We opened savings accounts early with them and would match whate...
by basspond
Mon Aug 14, 2017 5:02 pm
Forum: Investing - Help with Personal Investments
Topic: All in stocks: Where to go now?
Replies: 24
Views: 2260

Re: All in stocks: Where to go now?

For five years this has worked very well with me not touching a thing and just running it on autopilot, but now that my retirement account is making up about half of my net worth, I figure I need to rethink the simplicity of what I've done so far. Congratulations you have figured out the best strat...
by basspond
Mon Aug 14, 2017 6:23 am
Forum: Personal Finance (Not Investing)
Topic: Due to 8 Year Bull Market, Pay Off Rental Now?
Replies: 35
Views: 3644

Re: Due to 8 Year Bull Market, Pay Off Rental Now?

What is your main reason to payoff, to be debt free or "timing the market"? Pay off if it is the first, keep on what you are doing if it is the latter.
by basspond
Mon Aug 14, 2017 5:49 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to buy a car is not excessive?
Replies: 48
Views: 3288

Re: What % of income to buy a car is not excessive?

Don't even look at unless you have a fully funded emergency fund, have been saving at least 15% for retirement, can pay cash, and plan to keep the car over 8 years. At that point over 50% is excessive.
by basspond
Sun Aug 13, 2017 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: One more year [to retire]
Replies: 23
Views: 2518

Re: One more year [to retire]

Sounds like you have the little bit more syndrome which equates to everything won't be enough. Start looking at obituaries and see the ages of people. It has affirmed my decision.
by basspond
Sun Aug 13, 2017 6:46 am
Forum: Personal Finance (Not Investing)
Topic: Personal Loan?
Replies: 19
Views: 1268

Re: Personal Loan?

It's just a shell game by replacing one debt with another debt. Downsize the truck. Life lessons are hard to swallow but bite the bullet now to ensure a better life in future.
by basspond
Sun Aug 13, 2017 5:06 am
Forum: Investing - Theory, News & General
Topic: "Honesty like that is rare!"
Replies: 47
Views: 7001

Re: Government TSP retirement plan

Yup. Should be available to all. Same as single-payer health insurance. If the idea is competition, why not let the non-profit government system take a shot at a quote? If it keeps it cheaper for the same price, I'll take it. Run your numbers on what was paid into your SS and you will see why the g...
by basspond
Tue Aug 08, 2017 12:32 am
Forum: Personal Finance (Not Investing)
Topic: kids think lazy if retire?
Replies: 70
Views: 7808

Re: kids think lazy if retire?

Contribute your time and talent to your community in a meaningful and organized manner. Your kids will see you enjoying a relaxed life while still contributing to society. I had a volunteer opportunity lined up when I retired. Very fulfilling and satisfying that I can give back to the community. I ...
by basspond
Tue Aug 08, 2017 12:22 am
Forum: Personal Finance (Not Investing)
Topic: College and Paying for it
Replies: 61
Views: 4090

Re: College and Paying for it

We stressed to our children we were only going to fund their college at in-state school costs. Anything else they would have to make up. Guess which route they chose?
by basspond
Thu Aug 03, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Deciding between retirement and general savings in my 20s
Replies: 28
Views: 2817

Re: Deciding between retirement and general savings in my 20s

You are doing great . If you are looking for a number for general savings I would say 10%. There will be always something big to save for.
by basspond
Thu Aug 03, 2017 9:17 pm
Forum: Investing - Help with Personal Investments
Topic: 85/15 too aggressive at age 35?
Replies: 89
Views: 7876

Re: 85/15 too aggressive at age 35?

I commend you for staying the course. We didn't panic when black Monday hit when we where newlyweds because we were dumb, in love, and naive. We were almost 100% in and haven't looked back since. Know several people who are kicking themselves for bailing after Y2K and 2007 downturns. Just remember t...
by basspond
Thu Aug 03, 2017 9:03 pm
Forum: Investing - Help with Personal Investments
Topic: wedding fund
Replies: 24
Views: 2004

Re: wedding fund

Will be looking at same situation with older girls. We have a very aggressive taxable portfolio that we will use to fund. If you want to do something interesting I opened up a brockerage account for ours and we seeded the accounts and helped them pick several equities. This was done in 2007 before t...
by basspond
Thu Aug 03, 2017 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: A poll: How much money do you want to retire?
Replies: 270
Views: 21271

Re: A poll: How much money do you want to retire?

$5M at 55 which will be in 2 years.
by basspond
Mon Jul 31, 2017 5:00 am
Forum: Personal Finance (Not Investing)
Topic: Savings Rate Formula - Explicitly Spelled Out
Replies: 50
Views: 3985

Re: Savings Rate Formula - Explicitly Spelled Out

I have seen two main ideas when this topic comes up. First is to use different variables to increase one's savings rate. The second is taking what you are saving just for retirement (not including items that are part of living expenses) divided by your gross salary. I hear similar discussion about p...
by basspond
Sun Jul 30, 2017 7:23 am
Forum: Investing - Help with Personal Investments
Topic: Tesla - next big lottery ticket ?
Replies: 167
Views: 15308

Re: Tesla - next big lottery ticket ?

Unlike an IPhone you can't use it while it is being charged. If it is less then 3% of your assets don't see a problem. But I would keep your eye open for companies in fuel cell technology.
by basspond
Sun Jul 30, 2017 7:17 am
Forum: Personal Finance (Not Investing)
Topic: How to calculate your retirement number
Replies: 95
Views: 8757

Re: How to calcuate your retirement number

Estimated yearly retirement expense * 33 (did not factor in SS payments)
by basspond
Sun Jul 30, 2017 7:03 am
Forum: Investing - Help with Personal Investments
Topic: Advice for Picking 403 Company
Replies: 6
Views: 537

Advice for Picking 403 Company

My child just started a teaching job and was given a list of companies to "administer" their 403 account. I don't have much information about the qualified companies on the list except that we eliminated over half because they are insurance/annuity companies. Anybody have sound advice or experience ...
by basspond
Sat Jul 29, 2017 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford it ? [A new car]
Replies: 95
Views: 6137

Re: Can I afford it ? [A new car]

You can afford but by taking out a loan you lesson the "hurt" of a big cash outlay for an expense. I like buying new but driving until they don't go anymore.
by basspond
Fri Jul 28, 2017 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Savings rate: gross or net?
Replies: 56
Views: 3145

Re: Savings rate: gross or net?

Gross, too many variables and definitions that can mean net.
by basspond
Thu Jul 27, 2017 12:21 pm
Forum: Personal Finance (Not Investing)
Topic: What's your personal savings rate?
Replies: 135
Views: 11407

Re: What's your personal savings rate?

Was over 30% until college kicked in. I believe personal savings does not include mortgage, credit, college loans, SS, or payments to emergency fund. When I 1st started I was about 7% but slowly and methodically worked my/our way up.
by basspond
Tue Jul 18, 2017 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Question on When to Take Social Security
Replies: 14
Views: 1336

Re: Question on When to Take Social Security

If SS has to cover more then 40% of their retirement expenses then they need to delay at least to FRA.
by basspond
Tue Jul 11, 2017 8:47 am
Forum: Personal Finance (Not Investing)
Topic: When should my wife and I take our social security?
Replies: 25
Views: 2832

Re: When should my wife and I take our social security?

If you won't have enough assets to support your wife into her nineties then delay to 70. If you do then your decision should be made on that crystal ball that the median has down the street.
by basspond
Sun Jul 09, 2017 9:09 pm
Forum: Investing - Help with Personal Investments
Topic: Starting college savings
Replies: 29
Views: 2231

Re: Starting college savings

Fund your retirement (15%) and save at least 5% for college. When they start going reduce your contributions and use that reduction to cash flow college expenses. But always save as much as you can. My estimate for the cost of college was over 50% too low when my kids were under 4.
by basspond
Sun Jul 09, 2017 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance to 15 Year Mortgage?
Replies: 7
Views: 1006

Re: Refinance to 15 Year Mortgage?

If you refinanced you would have a 21 year mortgage. I would just increase your payments to make it a real 15 year mortgage.
by basspond
Sat Jul 08, 2017 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Last 80 minutes of my career
Replies: 64
Views: 10250

Re: Last 80 minutes of my career

Congratulations and enjoy. I have found there are many worthwhile volunteer opportunities available that are so much more satisfying than my previous career.
by basspond
Sat Jul 08, 2017 6:45 am
Forum: Investing - Help with Personal Investments
Topic: Term Life Insurance - what age to buy?
Replies: 13
Views: 1012

Re: Term Life Insurance - what age to buy?

It's not about age but if someone else is dependent on your money. When we got married we had enough insurance to pay off our mortgage 200%. When kids came we maxed out our employer sponsored insurance. Our mistake was not getting term outside of our employer but everything worked out fine and we di...
by basspond
Sat Jul 08, 2017 6:37 am
Forum: Personal Finance (Not Investing)
Topic: How are you a leader in personal finance?
Replies: 29
Views: 3265

Re: How are you a leader in personal finance?

I don't "butt in" to others finances but I bring up finance issues I have or politely ask how their's are doing. Also I do things like avoiding toll roads, buy in bulk, watch for sales, etc and show how much more one can spend by just paying an extra buck or 2 a day. The more people unders...
by basspond
Thu Jul 06, 2017 7:46 am
Forum: Personal Finance (Not Investing)
Topic: What are your health insurance stats?
Replies: 89
Views: 5315

Re: What are your health insurance stats?

Employer plan, individual HMO, $230 month, no deductibles just copay from $35-$75. Company contributes about $400.
by basspond
Tue Jul 04, 2017 6:21 am
Forum: Investing - Help with Personal Investments
Topic: Mitigating time-out-of-market risk (401k rollover)
Replies: 17
Views: 1413

Re: Mitigating time-out-of-market risk (401k rollover)

I had same dilemma but luckily when I bit the bullet I came out ahead. If your 401 has different vehicles then your new account then there will always be a timing issue. If you want to lesson the risk then I would break the distribution into no more then three or four withdrawals.
by basspond
Tue Jul 04, 2017 6:14 am
Forum: Investing - Theory, News & General
Topic: 100% stocks no debt?
Replies: 56
Views: 4369

Re: 100% stocks no debt?

In the scenario you gave, if you had $2M of net worth you would have 20% in your house and emergency fund. So I think you would be fine with non-stock under 10%.
by basspond
Tue Jul 04, 2017 6:04 am
Forum: Investing - Help with Personal Investments
Topic: Retirement question - withdraw pretax or post tax money first?
Replies: 40
Views: 3122

Re: Retirement question - withdraw pretax or post tax money first?

I am in a similar situation and plan to use a percentage of post and pretax amounts to fund our expenses until 70.5. Just like when we were accumulating I plan to have a withdrawal plan that will take into consideration current and future taxes to minimize our tax bite. But right now we have no plan...
by basspond
Tue Jul 04, 2017 5:53 am
Forum: Personal Finance (Not Investing)
Topic: Long term care insurance - is it worth it?
Replies: 156
Views: 10119

Re: Long term care insurance - is it worth it?

My parents had one of the better ones and because of deductible days it never was used for dad. Every situation is different, especially if a relative, like my mom, was able to care for him at home until it got really bad. It gives my parents/parent peace of mind.
by basspond
Tue Jun 20, 2017 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Planning Around Partner's Student Loans
Replies: 30
Views: 2341

Re: Planning Around Partner's Student Loans

I think the simplest would be to gift her the maximum the law allows every year so she can pay off the loan. No strings and unwinding/tax issues in this situation.
by basspond
Mon Jun 19, 2017 5:49 am
Forum: Investing - Theory, News & General
Topic: Best Financial Advice from Dad (in honor of father's day)
Replies: 78
Views: 5461

Re: Best Financial Advice from Dad (in honor of father's day)

I am working on my second million, I gave up on the first! Father in law not really anything specific but would sit down with him and casually talk. Just a lot of common investment sense by listening and observing. He died way too young so I made a point to keep our finances in order so I could reti...
by basspond
Mon Jun 19, 2017 5:40 am
Forum: Personal Finance (Not Investing)
Topic: Scratched Bumper with Police on the Scene
Replies: 26
Views: 2574

Re: Scratched Bumper with Police on the Scene

Since it is minor, get an estimate and give him a chance to make it right. If he doesn't then file a claim with his insurance. I don't really understand this advice. Damage to a vehicle is almost never a few hundred dollars. Usually hits about a thousand dollars minimum and often in the 2-3k range....
by basspond
Mon Jun 19, 2017 5:30 am
Forum: Personal Finance (Not Investing)
Topic: Credit for Retirees
Replies: 16
Views: 1797

Re: Credit for Retirees

Be careful of doing something that will lower your credit score because some companies (like insurance) will base your rates on your credit score.
by basspond
Sun Jun 18, 2017 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Scratched Bumper with Police on the Scene
Replies: 26
Views: 2574

Re: Scratched Bumper with Police on the Scene

Since it is minor, get an estimate and give him a chance to make it right. If he doesn't then file a claim with his insurance.
by basspond
Sun Jun 18, 2017 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: When should wife take SS?
Replies: 9
Views: 1304

Re: When should wife take SS?

The general advice, if your 401k is large enough, is for the higher earner to defer until 70 to maximize the future value and "longevity insurance" aspect of inflation adjusted SS payments. This means spending from your 401k in the meantime. I agree that delaying is longevity insurance bu...