Search found 942 matches

by basspond
Fri Feb 23, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Time for twins to go to daycare
Replies: 38
Views: 2589

Re: Time for twins to go to daycare

In your situation, what happens if one spouse can't come up with the $500? Will you have to return the child?
by basspond
Fri Feb 23, 2018 1:28 am
Forum: Personal Finance (Not Investing)
Topic: How am I really doing for retirement savings?
Replies: 45
Views: 4085

Re: How am I really doing for retirement savings?

miamivice wrote:
Wed Feb 21, 2018 11:02 am
My wife has grown tired of me complaining about us spending too much, if that means anything.
If you are saving more than 15% of you salary (not counting company match), you can throttle down to that. But do not finance anything unless it has 0% interest or less.
by basspond
Fri Feb 23, 2018 1:14 am
Forum: Personal Finance (Not Investing)
Topic: Small Personal Loans for Mixed Martial Arts Training
Replies: 28
Views: 1894

Re: Small Personal Loans for Mixed Martial Arts Training

You are setting yourself up for failure. Show discipline, do self workouts, and save the $1500 before starting. I have done stupid financial decisions in the past because of emotional ineptness. Don't fall into the trap and you will be better off financially and personally. Just look on YouTube for ...
by basspond
Thu Feb 22, 2018 1:32 pm
Forum: Personal Consumer Issues
Topic: What UN-frugal thing do you do?
Replies: 165
Views: 8049

Re: What UN-frugal thing do you do?

Fishing, golf, gambling, and more then two big vacations a year.
by basspond
Thu Feb 22, 2018 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay off this debt?
Replies: 60
Views: 2135

Re: Would you pay off this debt?

I would tighten my budget and speed up paying off debts with cash flow. This will also help you to prepare for reducing expenses in retirement. As you noted though as you go along your mortgage interest will be steadily decreasing. The longer you put off paying your mortgage the more interest you wi...
by basspond
Thu Feb 22, 2018 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Is a prenup required to establish a list of separate property before marriage?
Replies: 67
Views: 2251

Re: Is a prenup required to establish a list of separate property before marriage?

Get a pre-nup. The $1000 is nothing compared to what it might cost to fight out a divorce battle hashing out what is what someday... that could likely be avoided with a pre-nup... This is the issue with prenups. Everyone wants a clean out if the relationship "deteriorates". Our society wants to mak...
by basspond
Sat Feb 17, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Selling Timber
Replies: 37
Views: 2678

Re: Selling Timber

The price calculation based on price of lumber seems very reasonable. Standard oil leases are 20% and are not on a sliding scale. Make sure they harvest responsibly, you have a say in what areas can be harvested, and do site remediation.
by basspond
Sat Feb 17, 2018 10:44 am
Forum: Personal Finance (Not Investing)
Topic: How to get child's skin in the game for college?
Replies: 135
Views: 6494

Re: How to get child's skin in the game for college?

Unless you have been talking with your daughter about college finances along the way, 17 is a bit late to be laying the ground rules now. But since you are here whatever is decided make both parties agree what will be required of each. The point is the longer you wait the more a family decision feel...
by basspond
Tue Feb 13, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16880

Re: Number at which to stop worrying

(110 - your age) x yearly expenses
by basspond
Sun Feb 11, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Help - why do I owe so much in taxes this year
Replies: 17
Views: 3268

Re: Help - why do I owe so much in taxes this year

I am assuming your wife increased he contributions and since she had only 1 deduction, withholdings for her for the year were substantially less. Plus there seems to be an issue with your payroll system. I would check with them to find out why your withholdings were changed. As far avoiding the $99 ...
by basspond
Thu Feb 08, 2018 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Finances Needed !!
Replies: 5
Views: 819

Re: Finances Needed !!

1. Currently $25K all in costs for one year.
2. 30x Expenses
3. If your spouse will still work: = 20x expenses - current retirement savings
4. After tax accounts after 401k/Roth were maxed out
by basspond
Thu Feb 08, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15857

Re: free dinner investing seminar

Went to one or two and realized is was a schmooze tactic and that their clients were paying for my lunch.
by basspond
Wed Feb 07, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 12449

Re: Am I saving too much for retirment?

You can never save enough unless you take it overboard and start dumpster diving. My suggestion is to max out your 401/Roth and also save in taxable accounts to pay for big ticket/emergencies with cash. It worked for us. Retired early and it's great not having to worry (too much) when the market dro...
by basspond
Sat Feb 03, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 6771

Re: How to think about your house from a financial perspective

We would be still paying on our mortgage if we didn't refinance. Has been paid off for almost 10 years. House is less the 5% of our total net worth so it is just an after thought. To us it is a home, not an instrument.
by basspond
Sat Feb 03, 2018 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Do you live on a budget?
Replies: 65
Views: 3433

Re: Do you live on a budget?

We have a specific amount to save and give, but no other budget. It helps that we are penny pinchers.
by basspond
Thu Jan 25, 2018 3:45 pm
Forum: Investing - Theory, News & General
Topic: 401k millionaires
Replies: 158
Views: 23694

Re: 401k millionaires

All you have to do is start young and stay the course. It worked for me. 39 years of work, and saving, with an average salary of around $60k. Closer to $2M then $1M.
by basspond
Sat Jan 20, 2018 8:24 am
Forum: Investing - Theory, News & General
Topic: 10 years expenses in FI
Replies: 49
Views: 4945

Re: 10 years expenses in FI

It does seem that all this scheming inflames a lot of anxiety. On the other hand I know people who don't want to look at finances because they are afraid of what they will discover. I am not a big planner, except for finances, and it has been very beneficial for us. The anxiety is also triggered by...
by basspond
Wed Jan 17, 2018 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Take a 401k Loan?
Replies: 43
Views: 2170

Re: Take a 401k Loan?

You can't borrow to get yourself out of debt, especially with a 401k loan, too much risk. I am afraid if you borrow now to relieve a temporary setback, it will be just as easy for you to do the same thing further down the road. Feel the hurt and learn to be more wise in your spending and financial d...
by basspond
Wed Jan 17, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Confusion about prepaying property taxes
Replies: 137
Views: 13347

Re: Confusion about prepaying property taxes

Sounds like it is a local taxing jurisdiction issue. Work with your government officials to make it easier for their customers to decide what year to pay their taxes. My state and local entities send out bills in November and are due by January 31. Very easy and no confusion for us. Of course this i...
by basspond
Tue Jan 16, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 197
Views: 14381

Re: Stats on When People Take Social Security

... I was truly shocked at the financial illiteracy that I saw. How can you say because someone doesn't do what you are doing they are illiterate? We should be stating facts on here and not implying our own biases. There are many reasons people take SS when they do. Many people were not taught pers...
by basspond
Sun Jan 14, 2018 4:47 am
Forum: Investing - Theory, News & General
Topic: Best 401k Employer Match Structure
Replies: 115
Views: 9546

Re: Best 401k Employer Match Structure

If your company does not provide a pension then I would suggest to do a percentage of salary that is automatically provided by your company and then kick in a match. For example a 3% automatic match with an extra 50% match up to 6% of what the employee contributes.
by basspond
Fri Jan 12, 2018 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Pay off student loans after kid graduates?
Replies: 35
Views: 2242

Re: Pay off student loans after kid graduates?

He sounds responsible but he also knew the extra cost of his decisions. I would recommend that you use your gift exemption to him so he can pay it off in two years. It also might make expectations if you have other children.
by basspond
Fri Jan 12, 2018 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Getting your spouse on the same page
Replies: 53
Views: 5155

Re: Getting your spouse on the same page

We seem to be on the same but we still have differences of opinion on our financial life. Have open conversations about financial beliefs before any big issues. We had a big difference on a financial decision, and it took years, conversations, and even getting a 3rd party input to get us to agree. I...
by basspond
Fri Jan 12, 2018 8:52 am
Forum: Investing - Help with Personal Investments
Topic: Roth 401 vs traditional 401
Replies: 3
Views: 292

Re: Roth 401 vs traditional 401

My mega corp offered both. If you can do only one and can afford the extra tax hit now, I would choose the Roth. If both at least 60% in Roth.
by basspond
Thu Jan 11, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: When to upgrade House
Replies: 24
Views: 2489

Re: When to upgrade House

1. Would you change my saving rates at all? 2. When would you start considering buying the next house 3. What is the best tool for looking at long term past historical real-estate market. 4. Any and all other advice /opinions is welcomed :) 1. Change retirement to at least 10%, put at least 2% in p...
by basspond
Thu Jan 11, 2018 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: What career related challenges can one pursue after age 40?
Replies: 13
Views: 1493

Re: What career related challenges can one pursue after age 40?

Start enjoying life. Find your passions and focus on those things that will give you pleasure once you tear up your time card.
by basspond
Thu Jan 11, 2018 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: How much/little money to give kids in will so they continue to work
Replies: 95
Views: 8345

Re: How much/little money to give kids in will so they continue to work

Some kids, like others have said, will spend everything they have in their pocket. If you taught and a good role model for decent morals and financial intelligence, you shouldn't have to worry. I worry the most about who they chose to be their partner and extended other family. I know this from my s...
by basspond
Tue Jan 09, 2018 11:00 am
Forum: Investing - Help with Personal Investments
Topic: Maybe not a win for teachers/I need some advice
Replies: 46
Views: 2854

Re: Maybe not a win for teachers/I need some advice

My daughter doesn't use the contracted financial advisors, she just setup a Vanguard Roth and contributes to it. My disgust with this arrangement is that teachers who know financial basics don't get any benefit from this. Don't know who exactly (Union, school district, state,etc..) decides but it is...
by basspond
Tue Jan 09, 2018 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Can you ever win the game?
Replies: 50
Views: 5276

Re: Can you ever win the game?

i realized that I first had to understand the real winning the game of life. If my #1 competition was to have enough money, I don't think I would have ever succeeded. Happy competition!
by basspond
Wed Dec 27, 2017 9:53 am
Forum: Personal Finance (Not Investing)
Topic: Miata as second car
Replies: 94
Views: 4042

Re: Miata as second car

Coachrhino11 wrote:
Tue Dec 26, 2017 6:40 pm
I can’t just replace Jeep with Miata because I do have a daughter. She can ride in Miata, but it completely removes possibility of us all going anywhere together.
There are nice fun cars that can seat more than two. Your family would be much happier.
by basspond
Sun Dec 24, 2017 4:43 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 450
Views: 35595

Re: What frugal thing did you do today?

For about 20% of one ticket to an NFL game, took family of four to a high school state championship game yesterday.
by basspond
Sat Dec 16, 2017 5:07 am
Forum: Personal Finance (Not Investing)
Topic: Psychological anxiety to retirement
Replies: 9
Views: 1529

Re: Psychological anxiety to retirement

If work and money are the top priorities in your life now, it will be difficult to be truly happy. I believe anybody who wants to retire needs at least five years to plan how they are going to achieve their goals and what they are going to do. It is like obtaining a degree, it takes time, hard work,...
by basspond
Fri Dec 15, 2017 7:02 am
Forum: Personal Finance (Not Investing)
Topic: For those in retirement, how close is your post retirement spending to your pre-retirement estimate?
Replies: 26
Views: 2669

Re: For those in retirement, how close is your post retirement spending to your pre-retirement estimate?

Seems ours is very close. Some movement between categories like more entertainment/travel and less food/eating out since I have more time to cook, organize, look for sales, and of course senior discounts!
by basspond
Thu Dec 14, 2017 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching elementary school kids about money
Replies: 32
Views: 2107

Re: Teaching elementary school kids about money

We have done several things. Started a savings account and match what they put in. Then they could only use a proportion of it each semester for expenses, based on 1/2 of the balance. Then after graduation they get the remainder. Also opened a brockerage account, helped them pick several stocks, and...
by basspond
Wed Dec 13, 2017 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford to live on one income?
Replies: 70
Views: 5875

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: 123
Views: 13138

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 Consumer Issues
Topic: Save all this money, what do you splurge on?
Replies: 193
Views: 17350

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: 7807

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: 996

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: 28045

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: 9537

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: 2904

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: 337

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: 15070

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: 28045

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: 2504

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: 2066

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: 3985

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 ...