Search found 135 matches

by chipperd
Sat Aug 06, 2016 4:54 pm
Forum: Personal Consumer Issues
Topic: Data heavy sim card for Europe trip
Replies: 18
Views: 1058

Re: Data heavy sim card for Europe trip

Just came back from Europe. There for a month and in 6 countries, Austria/Germany being two of them. Be sure to get the details on "international". The sim card we bought stateside could call from a European country to U.S. but not European country to European Country. We survived pretty w...
by chipperd
Sun Apr 03, 2016 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Experience with CapitalOne?
Replies: 28
Views: 2343

Re: Experience with CapitalOne?

I use the 1.5% back on everything MasterCard... works just fine. I've used it all over North America without issue. Every time my cash back hits $100, they credit my account. They poke me via email now and then when I tip too much for a few drinks at the local pub, but other than that leave me alon...
by chipperd
Fri Mar 25, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: pension choices for spouse and self
Replies: 17
Views: 1813

Re: pension choices for spouse and self

Option 2 is clearly the best situation for you and spouse. The deduction for 100% contingent is only 6%. The same deduction for NC pension is about 18%. My big question is the pension COLA based? If not, the value of the pension will erode substantially over time. At age 46, your wife's life expect...
by chipperd
Sun Mar 20, 2016 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: pension choices for spouse and self
Replies: 17
Views: 1813

Re: pension choices for spouse and self

Thanks to all for their responses. Pretty much backs up my thoughts on Option #2 as the preferred choice for us.
Thanks again
by chipperd
Sat Mar 19, 2016 9:59 am
Forum: Personal Finance (Not Investing)
Topic: No idea how much to save in a 529
Replies: 37
Views: 3537

Re: No idea how much to save in a 529

For us, (we have three teens), we stopped saving into our 529's when we found out that would be included in the private school calc and once funds are used for any college, would also be used in the next year's FAFSA as well. So, didn't seem to make sense for us. Instead, we have been paying down ou...
by chipperd
Sat Mar 19, 2016 9:56 am
Forum: Personal Finance (Not Investing)
Topic: pension choices for spouse and self
Replies: 17
Views: 1813

Re: pension choices for spouse and self

Since you will not be pressed for current income in the near future, it seems to me that Option #2 is better at controlling risk down the road. Thanks for the feedback . Much appreciated One way to look at this choice is from the point of view of the survivor rather than the primary recipient. In o...
by chipperd
Sat Mar 19, 2016 9:22 am
Forum: Personal Finance (Not Investing)
Topic: pension choices for spouse and self
Replies: 17
Views: 1813

Re: pension choices for spouse and self

dm200 wrote:Since you will not be pressed for current income in the near future, it seems to me that Option #2 is better at controlling risk down the road.

Thanks for the feedback . Much appreciated
by chipperd
Sat Mar 19, 2016 9:21 am
Forum: Personal Finance (Not Investing)
Topic: pension choices for spouse and self
Replies: 17
Views: 1813

Re: pension choices for spouse and self

Hello forum, This site has been instrumental in helping me with retirement and investment choices and I have another I would like to pose. My wife works in what is considered a hazardous duty state job. She will be" retiring" from state service 6/1/16 and has the following options we are ...
by chipperd
Sat Mar 19, 2016 8:32 am
Forum: Personal Finance (Not Investing)
Topic: pension choices for spouse and self
Replies: 17
Views: 1813

pension choices for spouse and self

Hello forum, This site has been instrumental in helping me with retirement and investment choices and I have another I would like to pose. My wife works in what is considered a hazardous duty state job. She will be" retiring" from state service 6/1/16 and has the following options we are c...
by chipperd
Mon Jan 18, 2016 8:12 am
Forum: Personal Finance (Not Investing)
Topic: College Saving Plan = paying off mortgage early
Replies: 41
Views: 4413

Re: College Saving Plan = paying off mortgage early

Quick heads up from a dad staring down the barrel of at least 12 years of college for my three teens: FAFSA will count grandparents contributions at the student income/asset rate rather than the favored parent rate towards determining need based aid. Not sure if that's your situation, but worth cons...
by chipperd
Mon Jan 18, 2016 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Selling house, disappointed in realtors. Am I expecting too much?
Replies: 23
Views: 3591

Re: Selling house, disappointed in realtors. Am I expecting too much?

Let me preface that I've never been through a corporate move but... We purchased a short sale over the course of 6 months (late 2008-early 2009) through a friend who happened to be a real estate agent who said the home was a steal. We did our homework and hired a professional appraiser as we also th...
by chipperd
Fri Dec 25, 2015 5:21 am
Forum: Personal Finance (Not Investing)
Topic: Personal umbrella insurance policies
Replies: 34
Views: 3281

Re: Personal umbrella insurance policies

Not sure where you live but that sounds a bit high so you may want to quote that out. I live in a high cost of living area in the northeast and our 1mil umbrella is $205. That said, seems like a small price to pay for more financial security
by chipperd
Sun Dec 20, 2015 7:48 am
Forum: Personal Consumer Issues
Topic: Inexpensive Smartphone for Cricket Wireless
Replies: 20
Views: 2682

Re: Inexpensive Smartphone for Cricket Wireless

We switched 3 of our accounts to cricket in the last few months. Myself and daughter opted for the samsung s4. At $199 it was a bit pricey but seems to be working well
by chipperd
Sat Dec 19, 2015 7:59 am
Forum: Personal Finance (Not Investing)
Topic: aggregate two vanguard accounts under new system
Replies: 1
Views: 257

aggregate two vanguard accounts under new system

Hello all, I would like to aggregate my wife's Vanguard retirement account with mine and not clear how to do this under the new Yod... system (terrible name btw). When I type in Vangaurd under the add accounts drop down, the closest I can come up with is "Vanguard Ascensus" choice. Given t...
by chipperd
Sat Nov 21, 2015 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: best way t o purchase euros
Replies: 16
Views: 1425

best way t o purchase euros

Traveling with the family throughout western europe this coming summer and looking to purchase euros. Our bank will charge us a flat fee of $7.00 to exchange at the current rate. Is there a better or more cost effective way?
Thanks
Chipperd
by chipperd
Sat Nov 21, 2015 6:17 am
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

Can actually afford the sailboat and the amount we would pay for all three to be in state school college if we take out equity loan. The plan is to then sell the house when we retire, pay off the equity loan at that point then downsize and purchase the sailboat, both with cash. Not sure where the de...
by chipperd
Tue Nov 17, 2015 4:20 am
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

Chipperd- I think a HELOC is a terrible idea. If anyone is going into debt for an education, it should be the student, even if you can get a better rate. Think about what happens if heaven forbid your kid dies without paying off the debt. If you have a HELOC, you still owe the money whereas with a ...
by chipperd
Wed Nov 11, 2015 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

Thanks for the back and forth discussion on this topic. I think we may take as much out of the kids trusts as possible (down to $1), using the funds to pay down the mortgage, then take out a HELOC to pay for some of the college expenses. Use 529 funds we have and grandmother has to pay the rest. One...
by chipperd
Sun Nov 08, 2015 6:49 am
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

As a follow up: Went back and forth with "advisor", asking for documentation around the "guaranteed 5.2% return". He back peddled stating returns would be in the "3-4% range but with dividends would get to that mark", but nothing in writing. Also pointed out that I woul...
by chipperd
Thu Oct 29, 2015 5:06 am
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

powermega: that was a question I had actually: cash out refi or HELOC, so thanks for that input and thanks again to all for their thoughts chipperd Don't forget about the tax consequences of these policies if you have outstanding loans and then surrender them for the cash value. Your loan (withdrawa...
by chipperd
Wed Oct 28, 2015 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

Follow up question if anyone would like to comment. My mom set up irrevocable trusts for our three kids and funded 10k each.I am the trustee (father) in control of the funds to be used at my discretion for the benefit of the child(ren). Attorney who set them up says these don't need to be reported o...
by chipperd
Wed Oct 28, 2015 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

So so appreciative of all the replies. Really like the gritty financial numbers (those don't lie) posted by emergdoc and appreciate the time he and all put into running the numbers. Agree with all who said something along the lines of "if you don't get it, don't put $ into it". And I don't...
by chipperd
Wed Oct 28, 2015 5:10 am
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

http://ifap.ed.gov/efcformulaguide/attachments/100615EFCFormulaGuide1617Attach.pdf There it is, in full, the in-depth look at how FAFSA calculates what you can and can't afford, how the expected family contribution is generated. Someone very wise once told me there are no shortcuts in life, if you ...
by chipperd
Wed Oct 28, 2015 4:51 am
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

Sorry that table couldn't be cut and pasted.
I really appreciate everyone's help with this and all the feedback so far.
I will plug our numbers into the other calc. given
by chipperd
Wed Oct 28, 2015 4:50 am
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

Re: whole life pitched as way to pay for kids college

Hello bogleheads, I know I may bet screamed off the forum by asking this but I am looking for logic here. A permanent whole life policy is being recommended to us as a means to pay for our three kids' college expenses. The logic as presented is that we take 80k out of our home in a 30 year refi at ...
by chipperd
Tue Oct 27, 2015 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: whole life pitched as way to pay for kids college
Replies: 67
Views: 8319

whole life pitched as way to pay for kids college

Hello bogleheads, I know I may bet screamed off the forum by asking this but I am looking for logic here. A permanent whole life policy is being recommended to us as a means to pay for our three kids' college expenses. The logic as presented is that we take 80k out of our home in a 30 year refi at 3...
by chipperd
Sun Sep 06, 2015 5:27 am
Forum: Personal Finance (Not Investing)
Topic: 1 Million Dollar House, Am I Crazy?
Replies: 41
Views: 5201

Re: 1 Million Dollar House, Am I Crazy?

Personally I wouldn't be pre-paying the mortgage unless you have a high rate. You don't state what the % is. I'd be shoveling that cash into a MM account and keeping it liquid for your next down payment. That way if you see a bargain/house you really want you could potentially go non contingent vs ...
by chipperd
Sat Aug 15, 2015 10:42 am
Forum: Personal Finance (Not Investing)
Topic: please check my math on figuring value of pension in terms of salary
Replies: 6
Views: 636

Re: please check my math on figuring value of pension in terms of salary

What happens to the money if you leave the job before qualifying for the pension? If that would be a cash balance that could be rolled out to an IRA then that would be value of it compared to making an IRA contribution instead. I know very little about it but some government pensions are instead of...
by chipperd
Sat Aug 15, 2015 10:40 am
Forum: Personal Finance (Not Investing)
Topic: please check my math on figuring value of pension in terms of salary
Replies: 6
Views: 636

Re: please check my math on figuring value of pension in terms of salary

Assuming the following, the present value of the pension is about $75,000 if you are male and about $85,000 if you are female. ⋅ Age now: 48 ⋅ $800 per month pension starting in 12 years ⋅ 4% discount rate ⋅ Survival chances from SSA 2011 Period Life Table (I...
by chipperd
Sat Aug 15, 2015 7:21 am
Forum: Personal Finance (Not Investing)
Topic: Am I crazy? Quitting my job.
Replies: 107
Views: 19303

Re: Am I crazy? Quitting my job.

With that head start, I would come home to the USA, decompress, enjoy life with your new family for maybe 6 months or so, and then find a new job. Maybe by then the oil industry will turn around and you can find work. If not, you can find other industries to work in, especially with such low expens...
by chipperd
Sat Aug 15, 2015 7:09 am
Forum: Personal Finance (Not Investing)
Topic: please check my math on figuring value of pension in terms of salary
Replies: 6
Views: 636

please check my math on figuring value of pension in terms of salary

Hi all, Value this group immensely and has been very helpful for me over the years. Looking for open and honest input on this. Situation: Accepted a job under a teacher contract that has a pension. Since I am coming to this position later in life, I plan to work the 10 years to qualify for the pensi...
by chipperd
Sun May 17, 2015 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Should we purchase home without permits?
Replies: 70
Views: 5760

Re: Should we purchase home without permits?

I think that entering into a large financial commitment in which you will lack liquidity will result in you having to change your name sake from financial freedom to something less desirable.
by chipperd
Sun May 17, 2015 6:59 am
Forum: Personal Consumer Issues
Topic: How do I get best deal on trade in?
Replies: 14
Views: 2025

Re: How do I get best deal on trade in?

PS: Since we typically purchase popular vehicles (this time a 2012 Camry) I am never afraid to walk away knowing there are many fish in the sea
by chipperd
Sun May 17, 2015 6:58 am
Forum: Personal Consumer Issues
Topic: How do I get best deal on trade in?
Replies: 14
Views: 2025

Re: How do I get best deal on trade in?

Just went through this process myself. I went to Kelly Blue Book and Edmunds websites. They will give you the values (cash/trade) of your used vehicle then you know what the market says your vehicle is worth. We only buy used 3-4 year old vehicles ourselves, allowing the previous owner to eat most o...
by chipperd
Wed Apr 08, 2015 7:50 am
Forum: Personal Consumer Issues
Topic: Updated from 2015: Vehicle Suggestions with 3 Kids
Replies: 45
Views: 4215

Re: Vehicle Suggestions with 3 Kids

Definitely a big +1 on the Sienna. We have had two. Bought both about 3 years old and first one went 190k miles before we traded in to the current one, which is 10 years old and 186k miles. At the risk of jinxing myself, few repairs other than brakes, tires, oil changes and one major tune up with ne...
by chipperd
Tue Mar 24, 2015 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Questions - Soccer Coach (1099) & W2
Replies: 10
Views: 1492

Re: Tax Questions - Soccer Coach (1099) & W2

I am a sole proprietor and I have an accountant do my taxes. He will ask me every year how much my cell phone, car, internet... is used as a percentage for the business. He says, in my case, that the per mile u.s. govt rate (maybe $.56/mile? Not sure) is the best way to deduct auto usage. Hope that ...
by chipperd
Tue Mar 24, 2015 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 802

Re: max out SEP as employer and Traditional IRA?

Ok. Thanks. Very helpful!
by chipperd
Tue Mar 24, 2015 11:26 am
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 802

Re: max out SEP as employer and Traditional IRA?

Thanks again for the input, which prompted yet another question (just don't want to run astray of the IRS):
The MAGI income limits to the full deduction on the traditional ira, individual or combined? We file married/joint.
Thanks
by chipperd
Tue Mar 24, 2015 3:49 am
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 802

Re: max out SEP as employer and Traditional IRA?

To provide some more info based on responses. The max allowable for me to contribute to my SEP this year was $10,100, so I am looking for more ways to reduce taxable income and save for retirement. I know about contributing to a roth, but thoughts a traditional IRA could be an option to meet both go...
by chipperd
Sun Mar 22, 2015 8:06 am
Forum: Personal Finance (Not Investing)
Topic: max out SEP as employer and Traditional IRA?
Replies: 7
Views: 802

max out SEP as employer and Traditional IRA?

Another SEP question that I have researched but not heard a lot about.
If, as a sole proprietor, I max out my employer contributions to my SEP, can I also contribute to my personal, traditional IRA in the same tax year and get both tax deductions?
by chipperd
Sat Mar 21, 2015 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching a responsible teen about money
Replies: 12
Views: 1385

Re: Teaching a responsible teen about money

+1 to Lafder post. We have two soon to be three teens in our house. Mixed personalities as far as saving/spending/frugality. We give each a monthly allowance on the first of the month. They are to use this for their own expenses (ie: clothing, fun, eating out/at school...). We pay for activities/edu...
by chipperd
Sat Mar 21, 2015 4:29 am
Forum: Personal Finance (Not Investing)
Topic: SEP. Over contribution
Replies: 4
Views: 653

Re: SEP. Over contribution

Thanks for the input and here is an update. I called Vanguard and the rep said I could change my recent contributions made in the 2015 calender year that were earmarked for 2014 tax year to the 2015 tax year, which I did. That was most of the over contribution ($3200 of the $3600 over contribution)....
by chipperd
Mon Mar 16, 2015 5:21 am
Forum: Personal Finance (Not Investing)
Topic: SEP. Over contribution
Replies: 4
Views: 653

SEP. Over contribution

Hello all.
I am a sole proprietor (employer and employee) with a SEP. I exceeded my contribution limits by about $3,600 for the 2014 tax year (all as the employer). Wondering if I can somehow change the excess contribution to the 2015 tax year?
Thanks for the input.
by chipperd
Sun Mar 08, 2015 7:02 am
Forum: Personal Finance (Not Investing)
Topic: financial engines on vanguard site?
Replies: 5
Views: 1211

Re: financial engines on vanguard site?

Thanks to you all I was able to find the info/link/website. Thanks!
by chipperd
Sat Mar 07, 2015 6:50 am
Forum: Personal Finance (Not Investing)
Topic: financial engines on vanguard site?
Replies: 5
Views: 1211

financial engines on vanguard site?

Hello,
I have been relying, in a large part but not in whole, on the financial engines website that I would access via Vanguard. With the new look vanguard site, I can't seem to locate the link to financial engines. Can someone help me out?
Thanks
by chipperd
Sun Feb 15, 2015 9:25 am
Forum: Personal Finance (Not Investing)
Topic: freeze kids' accounts with the 3 bureaus?
Replies: 9
Views: 1451

Re: freeze kids' accounts with the 3 bureaus?

Thanks all for your thoughts and info. Responses seem to be mixed so far. Perhaps some more detailed info to help narrow down the answer. 15 year old . Very part time soccer referee with a schwab roth accoun, bank account and a CD 13 year old with no work hx. Bank account. 11 year old with no work h...
by chipperd
Sat Feb 14, 2015 7:13 am
Forum: Personal Finance (Not Investing)
Topic: freeze kids' accounts with the 3 bureaus?
Replies: 9
Views: 1451

Re: freeze kids' accounts with the 3 bureaus?

Just remembered to add: all three are minor children
by chipperd
Sat Feb 14, 2015 7:08 am
Forum: Personal Finance (Not Investing)
Topic: freeze kids' accounts with the 3 bureaus?
Replies: 9
Views: 1451

freeze kids' accounts with the 3 bureaus?

Long time reader, part time poster, many year benefactor of advise from this forum and looking for guidance. We (family) have had Anthem health insurance for decades and I just froze both my and wife's credit with the three bureaus. Now wondering if I should also do so for my three kids, all covered...
by chipperd
Thu Jul 31, 2014 6:06 am
Forum: Investing - Help with Personal Investments
Topic: Help me save my parents from Merrill Lynch
Replies: 54
Views: 8225

Re: Help me save my parents from Merrill Lynch

Agree with the good professor.
If, however, they can't be convinced by the numbers, maybe they give M.L. 30k (10%) and they invest the other 90%. Then see how much they have yearly after expenses?
by chipperd
Sun Feb 23, 2014 10:27 am
Forum: Personal Consumer Issues
Topic: Best place to buy bike parts
Replies: 22
Views: 2362

Re: Best place to buy bike parts

Bike Nashbar?
www.bikenashbar.com

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