Search found 906 matches

by basspond
Wed Dec 13, 2017 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to live on one income?
Replies: 65
Views: 4879

Re: Can we afford to live on one income?

1. Should be at least 15%, main reason is to make your lifestyle a little uncomfortable so you have to adhere to a tight budget. Also consider a 50/50 split between 401 and Roth which will also lower your tax liability. And yes claim at least 3 dependents. 2. If your family likes the house and plans...
by basspond
Sun Dec 10, 2017 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: What are your big-picture ‘rules of life’ —financial or otherwise?
Replies: 101
Views: 8525

Re: What are your big-picture ‘rules of life’ —financial or otherwise?

Remember Fs in this order

Faith
Family
Friends
Finances
Fun

It's been amazing in our life how everything else falls in line.
by basspond
Sun Dec 10, 2017 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Save all this money, what do you splurge on?
Replies: 155
Views: 10492

Re: Save all this money, what do you splurge on?

TGF-Travel, golf, fishing, still look for deals though.
by basspond
Thu Dec 07, 2017 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7280

Re: At what age your investments start making more money than you?

When I was 5 my parents opened a $10 savings account that earned over 5% interest and I had no gross income. In my grownup life it appears in my mid thirties.
by basspond
Wed Dec 06, 2017 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Voya 401k or Not! Not enough in 401ks?
Replies: 13
Views: 887

Re: Voya 401k or Not! Not enough in 401ks?

Yes, never turn away free money.
by basspond
Wed Dec 06, 2017 6:32 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26035

Re: Why not take Social Security at 62

chipperd wrote:
Wed Dec 06, 2017 5:51 am
(Ie: A 75% reduction in benefits within the next 12 years).
I think people have reversed this number. In 12 years SS is expected to only have enough funds to pay 75% of claims. That is a 25% drop.
by basspond
Fri Dec 01, 2017 5:02 am
Forum: Personal Finance (Not Investing)
Topic: Thankful for the Debt we Took - Should we Try Again?
Replies: 95
Views: 8917

Re: Thankful for the Debt we Took - Should we Try Again?

Glad you beat the odds. You asked for advice so no. The Bogle way may not be sexy but it has 100% guarantee to work. A pyramid scheme with debt only works if you are not on the bottom but you will never know when or if you will be on it. Your odds are about the same if you just went to Vegas.
by basspond
Tue Nov 28, 2017 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Inheritance question: Inheriting something you aren't supposed to sell
Replies: 22
Views: 2768

Re: Inheritance question: Inheriting something you aren't supposed to sell

I was looking to purchase some land from a family with three remaining siblings. Two of them wanted to sell and had no interest in the property, the other had taken care of their parent and I could tell was very distraught that they were selling and the person who wanted to keep it didn't have the f...
by basspond
Sun Nov 26, 2017 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard Roth Error
Replies: 1
Views: 312

Vanguard Roth Error

Opened a Roth IRA, and right before Thanksgiving weekend they doubled my bank transfer amount. Seems like I can't do anything until Monday but how can something mess up a simple electronic transaction even before they verified my bank account? Luckily had funds to cover but will they be able to corr...
by basspond
Tue Nov 21, 2017 7:55 am
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 14011

Re: Dave Ramsey says don't use credit cards, even if you pay them off

Most people on this board have will power and can see a long term financial goal that will take years and decades to achieve, those that don't need to quit cold turkey at a chance to achieve financial independence. I look at him as a personal trainer who is working to get someone in shape to do thei...
by basspond
Tue Nov 21, 2017 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26035

Re: Why not take Social Security at 62

I am taking the earliest I can. Several factors has made our decision easier. 1. The rates are based on actual life expectancies and is adjusted for any changes so according to statistics it will be hard to beat the grim reaper. Look at obituaries, what I have seen is over 50% are less then 80 years...
by basspond
Mon Nov 20, 2017 5:22 am
Forum: Personal Finance (Not Investing)
Topic: Do I have to report a thank-you dinner as income to the IRS?
Replies: 15
Views: 2389

Re: Do I have to report a thank-you dinner as income to the IRS?

You are legally allowed to gift an individual $14k a year. So you can gift them your service and they can gift you their appreciation. You can't do this if you are doing the service for their business. It's called personal not business gift. There is a business gift exception of only $25.00.
by basspond
Sun Nov 19, 2017 8:47 am
Forum: Investing - Help with Personal Investments
Topic: Retirement Advice
Replies: 15
Views: 1903

Re: Retirement Advice

First question would be how much of his expenses will be covered by SS and pension? Build a portfolio that has enough stable funds to cover any differences for at least 4 years and invest the rest in equities 40/40/20 (SP500 / Small cap / foreign). Good luck and congratulations to your dad! And by d...
by basspond
Sun Nov 19, 2017 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Why I am not happy even with OK Net Asset
Replies: 38
Views: 3744

Re: Why I am not happy even with OK Net Asset

If it was easy more people would be rich and our society wouldn't have a drug issue. This is the time of instant gratification, people want a pill to loose weight, be buff, ease their pain and worries, change their emotion, sleep better, sex more, and a get rich quick scheme. Hang in there it takes ...
by basspond
Sat Nov 18, 2017 8:10 am
Forum: Investing - Help with Personal Investments
Topic: Why pay cash for a car?
Replies: 179
Views: 15210

Re: Why pay cash for a car?

A car I bought had an incentive to finance. I told the dealer I wanted to pay it off quickly and suggested I pay it off after 3 months which is what I did. That was 13 years ago. Like others have mentioned, car loans invite lifestyle creep or unnecessarily trading in expenses before you start really...
by basspond
Sat Nov 18, 2017 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Take Pension or Lump Sum payout?
Replies: 12
Views: 1183

Re: Take Pension or Lump Sum payout?

If the pension will have to fund over 50% of your retirement expenses, take the pension. The lump sum seems small compared to what I was offered. The COLA also makes the pension more appealing, mine didn't which makes your lump sum offer worse.
by basspond
Fri Nov 17, 2017 1:53 am
Forum: Personal Finance (Not Investing)
Topic: Advice needed for parent's finances
Replies: 38
Views: 3774

Re: Advice needed for parent's finances

1. She is not over exposed once you add the value of SS and house. 2 and 3. I wouldn't make any changes here until she gets settled in to her new condo. Don't want to add stress to her. 4. Ensure you have the blessing of your siblings before making any changes 5. Have her start selling/getting rid o...
by basspond
Thu Nov 16, 2017 5:37 pm
Forum: Personal Consumer Issues
Topic: Upgrading a flight - what are your rules?
Replies: 40
Views: 3734

Re: Upgrading a flight - what are your rules?

I wouldn't and don't for that amount. Only thing I would recommend is not to get an aisle seat. Less leg room and you get bumped by people coming down the aisle even if you are sitting within the arm rest.
by basspond
Wed Nov 01, 2017 3:57 am
Forum: Investing - Help with Personal Investments
Topic: My 401k is almost all cash now. 1/2 Mil
Replies: 89
Views: 8991

Re: My 401k is almost all cash now. 1/2 Mil

Your original question is what you would do? First scenario is that I am looking to time the market and dump my equities. I would leave 20% in market, commodities 25%, bonds 25%, real estate 25%, weapons to safe guard my stuff 5%. Second scenario if I had sold all my equities and waiting to time the...
by basspond
Tue Oct 31, 2017 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Pet insurance?
Replies: 50
Views: 4713

Re: Pet insurance?

I don't have pet insurance. I think the decision to get it is based on whether you wouldn't spare any cost to fix your dog? If you are in that camp get it. I have known people who spent thousands of dollars to fix a dog and they have lived 5+ years. And some who have spent thousands of dollars and ...
by basspond
Tue Oct 31, 2017 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Invalid airline ticket, seeking reimbursement
Replies: 36
Views: 3038

Re: Invalid airline ticket, seeking reimbursement

It sounds like all 4 parties were negligent. Expedia for the billing error, Airline 1 for not noticing payment for a fare they weren't providing, Airline 2 for not telling you there was an issue with your booking when you called, and you for not checking with Airline 2 after you made the arrangement...
by basspond
Tue Oct 31, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Pet insurance?
Replies: 50
Views: 4713

Re: Pet insurance?

I don't have pet insurance. I think the decision to get it is based on whether you wouldn't spare any cost to fix your dog? If you are in that camp get it. I have known people who spent thousands of dollars to fix a dog and they have lived 5+ years. And some who have spent thousands of dollars and t...
by basspond
Tue Oct 31, 2017 9:54 am
Forum: Personal Finance (Not Investing)
Topic: House - leaking chimney - thoughts?
Replies: 24
Views: 1154

Re: House - leaking chimney - thoughts?

If you don't feel comfortable with the contractor get another quote. We live in the southwest and had almost the same work down over 15 years ago. I think our cost was between $300 and $400. And ours haven't leaked since.
by basspond
Sun Oct 29, 2017 1:55 pm
Forum: Investing - Help with Personal Investments
Topic: Help Planning Mom's Finances after Dad Passed
Replies: 27
Views: 2388

Re: Help Planning Mom's Finances after Dad Passed

Another item to do is fill out IRS form 706 for spousal estate exemption transfer. Even though the estate is under the exemption now, if your mom hopefully lives a long time her estate or new laws might exceed the exemption. I think it has to be filed within 180 days of death.
by basspond
Sun Oct 29, 2017 5:57 am
Forum: Personal Finance (Not Investing)
Topic: What was the main reason you retired?
Replies: 210
Views: 15439

Re: What was the main reason you retired?

None of the above.
10) Other - Achieved goals I set 30+ years ago
by basspond
Tue Oct 24, 2017 6:37 am
Forum: Investing - Theory, News & General
Topic: Has the general public ever been correct about market crashes?
Replies: 47
Views: 3918

Re: Has the general public ever been correct about market crashes?

My definition of general public are the ones who will jump off a listing ship in the middle of the ocean with out a life jacket or boat. So yes, when the market goes down they will be right but how do I account for the last four years they have been saying that?
by basspond
Tue Oct 24, 2017 6:27 am
Forum: Investing - Help with Personal Investments
Topic: No Cap on Match for 401K - Need Advice
Replies: 37
Views: 2520

Re: No Cap on Match for 401K - Need Advice

Would 40/60 stocks/bonds be too conservative? We're only in our mid 30s but she's very hesitant (family lost all their savings in the dot com bubble in the 90s so she's pretty scarred from that). It sounds like you just need to calm her fears and lovingly explain what you two will be doing differen...
by basspond
Fri Oct 20, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: how long did it take to get used to retirement
Replies: 105
Views: 10436

Re: how long did it take to get used to retirement

The first work day that I awakened. Had family matters that took most of my time the first couple of months, getting setup for my volunteer career, spending more time on my hobbies, several house projects that took several weeks, and being a full time domestic associate.
by basspond
Fri Oct 13, 2017 6:49 am
Forum: Investing - Help with Personal Investments
Topic: Need help investing $1M in today's market
Replies: 24
Views: 3989

Re: Need help investing $1M in today's market

i would use up to 50% for your new house. Think about balancing your portfolio. You want to keep equity in your house. Also the lower your mortgage is the more extra money you have monthly to invest. Good luck.
by basspond
Tue Oct 10, 2017 3:21 am
Forum: Personal Finance (Not Investing)
Topic: Made a career mistake- advice/next steps
Replies: 35
Views: 5850

Re: Made a career mistake- advice/next steps

Don't believe anything from your previous employer. Several months is not enough time to find out if this is a bad fit. Work with your new employer to see what plans they have for you and show them they are getting value for you by correcting the dysfunction. Give it at least 6 months, and before yo...
by basspond
Sun Oct 08, 2017 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Freeze - What did you do?
Replies: 71
Views: 5988

Re: Pension Freeze - What did you do?

.... For many years, and even just a month ago, the CEO stood up and reported in person to the employees that we are excellent workers, our customers love us, and we have a bright future. Apparently they were always lying. Not really a surprise, but what was the point of the deception? And I am sur...
by basspond
Sun Oct 08, 2017 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: How big a portfolio should I have before retiring?
Replies: 52
Views: 7189

Re: How big a portfolio should I have before retiring?

My comfort level was 35 x expenses. But I did not factor in SS or other events.
by basspond
Sun Oct 08, 2017 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Millionaire Next Door (Thank you Bogleheads)
Replies: 81
Views: 11686

Re: Millionaire Next Door (Thank you Bogleheads)

Congratulations and also sorry for your loss. One of my mentors died recently and it gave me peace and hope that there are a lot of normal people out there who help others without much fanfare. My dad always told me he was working on his 2nd million because he gave up on the first. Little did he rea...
by basspond
Fri Oct 06, 2017 5:19 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 385
Views: 53323

Re: Retirement Account Stolen by Identity theft

I had a similar situation with a credit card. A person called about midnight to the company to change the email account. According to the company, they didn't answer the security questions correctly so called back within an hour and changed it then. There needs to be more punishment for these identi...
by basspond
Wed Oct 04, 2017 4:36 am
Forum: Personal Finance (Not Investing)
Topic: What to prioritize? Or hire a financial advisor?
Replies: 10
Views: 1046

Re: What to prioritize? Or hire a financial advisor?

You mentioned this but was not one of the options, tighten your budget 1st, increase retirement savings to 15%, pay off car, pay off student loan, increase your house savings, college savings would be last.
by basspond
Mon Oct 02, 2017 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Trust or ?
Replies: 13
Views: 1359

Re: Trust or ?

Just keep going over the financials with her and the kids. If they are decent they will understand and not try to be like the prodigal son. It will be hard to change her mind but maybe you can start gifting in small amounts based on a formula if your returns are outpacing your income.
by basspond
Sat Sep 30, 2017 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 6352

Re: Question About Long Term Care

My parents have had a long term care policy for a long time. One was caretaker until dementia/Ahlzeimer's started to take its toll. They were told they had a really good one, but it still had a 160 day deductible. They started to have professional home care come in almost everyday that counted again...
by basspond
Thu Sep 28, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: My Smartest Financial Moves
Replies: 62
Views: 6310

Re: My Smartest Financial Moves

These observations have been good, but lots of them fall into the category of "I just happened to do something by accident that turned out to work." Nothing inherently wrong with that, but it's hard to replicate and learn from. I can't change your feelings on your observations. You are not alone. A...
by basspond
Wed Sep 27, 2017 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Novice doing some tax planning for 2018
Replies: 21
Views: 1975

Re: Novice doing some tax planning for 2018

The tax deferral for each person is $18k total, even if you are in two plans (403 and 457)
You cannot deduct FICA taxes from federal income tax
by basspond
Wed Sep 27, 2017 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: My Smartest Financial Moves
Replies: 62
Views: 6310

Re: My Smartest Financial Moves

Married up Moved up in house, then refinanced to 15 year mortgage, have remained in same house for 25+ years Buy new cars and then keep until the wheels fall off Started saving in 401k as soon as I could in my very early 20s Stressed the importance of work, study, and values to children who have gon...
by basspond
Wed Sep 27, 2017 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: My boneheaded financial mistakes
Replies: 77
Views: 10223

Re: My boneheaded financial mistakes

Sold some stock in 401k account and withdrew the gains
Listened to penny stock broker
Bought new sports car, but the kicker was that the insurance premiums were more then the payments
Financed furniture
by basspond
Mon Sep 25, 2017 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads monthly costs of dog ownership?
Replies: 83
Views: 5471

Re: Bogleheads monthly costs of dog ownership?

Monthly costs $25 Heartworm/flea meds $20 Food medium grade $10 Vet $10 Treats/yard treatments/other $20 Emergency from ear infections, injuries, teeth cleaning, end of life treatments (know people who spent thousands that didn't add any time or quality of life) We bathe groom the dog ourself. Inves...
by basspond
Sat Sep 23, 2017 7:52 am
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 25352

Re: I won the Lottery. Need sound advice.

I hate to be blunt but your tone sounds like many others who won a lottery, spend some here and there and by the time you catch your breath it's all gone. I would pay off your debts by making extra payments over a year, take 5% and splurge, the rest save. Good luck.
by basspond
Sat Sep 23, 2017 7:45 am
Forum: Investing - Help with Personal Investments
Topic: Take The Lump Sum or The Immediate Annuity?
Replies: 34
Views: 3370

Re: Take The Lump Sum or The Immediate Annuity?

I would rather have control of the money, lump sum.
by basspond
Sat Sep 23, 2017 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Would you get flood insurance?
Replies: 25
Views: 1565

Re: Would you get flood insurance?

We don't now but will. We thought we would be safe living close to the headwaters of a major waterway, but when another watershed started flowing into ours it was quite an aye opening experience.
by basspond
Sat Sep 23, 2017 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 233
Views: 26545

Re: Calling out the not so rich bogleheads

The issue with most people I have observed is that the end seems so overwhelming that they don't even try. I started many years ago barely making 5 figures. I made some financial mistakes along the way but I started saving immediately. It took over 20 years until the mass of compounding interest and...
by basspond
Fri Sep 22, 2017 3:46 pm
Forum: Investing - Theory, News & General
Topic: Oil - Price & Supply/Demand Conundrum
Replies: 62
Views: 4133

Re: Oil - Price & Supply/Demand Conundrum

I think the energy sector will be in straight line down correction periods with longer recovering. Technology will drive the prices lower and there will be a longer recovering because of alternative fuels and newer technology unlocking more reserves.
by basspond
Fri Sep 22, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Age you retired
Replies: 112
Views: 8904

Re: Age you retired

55 still less then a year into it and no regrets.
by basspond
Fri Sep 22, 2017 8:28 am
Forum: Personal Finance (Not Investing)
Topic: The Magic of Savings Rate
Replies: 97
Views: 11335

Re: The Magic of Savings Rate

The only things that this chart does is confirms the power of compound interest and shows the earlier you save the less you have to save. However, if a person makes $100k a year and only starts to save 2 years before retirement, they would have less then $200k! I'm glad I didn't follow this chart.