Search found 272 matches

by chipperd
Tue Jan 16, 2018 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: looking for online retirement calculator with these criteria
Replies: 3
Views: 456

Re: looking for online retirement calculator with these criteria

Thanks to you both. I will definitely play around with these calculators.
Chipperd
by chipperd
Tue Jan 16, 2018 6:04 am
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 115
Views: 7041

Re: Stats on When People Take Social Security

I take a "bird in the hand" view on social security. Not that I don't trust others with "my" money, but if I don't need the additional income that waiting past 62 would dictate, why wait? As S. Miller once said, take the money and run.
by chipperd
Tue Jan 16, 2018 5:35 am
Forum: Personal Finance (Not Investing)
Topic: looking for online retirement calculator with these criteria
Replies: 3
Views: 456

looking for online retirement calculator with these criteria

Hello all, I really value the feedback given here and am asking for collective ideas for a resource I can't seem to find. We are looking at retiring somewhat "early", probably when I hit 54 or so and spouse about 51. As such, we would be "self-funding" our retirement with pension and savings until w...
by chipperd
Sun Jan 14, 2018 6:08 am
Forum: Investing - Theory, News & General
Topic: Dave Ramsey's Millionaire Study
Replies: 59
Views: 10130

Re: Dave Ramsey's Millionaire Study

stormswami wrote:
Sun Jan 14, 2018 2:41 am
Thanks for sharing the survey link. I participated and appropriately reflected Boglehead principles including a couple mentions of index funds when and where I could.
+1
by chipperd
Wed Jan 10, 2018 5:52 am
Forum: Personal Consumer Issues
Topic: Effects of extreme cold weather
Replies: 107
Views: 9603

Re: Effects of extreme cold weather

One of the effects extremely cold weather has on me is additional research on retirement in warmer climates. 8-)
by chipperd
Fri Jan 05, 2018 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA for teen
Replies: 33
Views: 4081

Re: Roth IRA for teen

My son, at 13, was a soccer ref for a few years. Opened a custodial roth for him at Schwab ($100 minimum). He did the research on the funds and picked the total stock market index (ER: .09). Good luck Chipperd this is similar to my situation. My son umped baseball. He earned <$400. How did you file...
by chipperd
Wed Dec 20, 2017 5:35 am
Forum: Personal Finance (Not Investing)
Topic: Job Opportunity - Public vs Private
Replies: 21
Views: 1715

Re: Job Opportunity - Public vs Private

The public sector job is better because of the job security. You are far less likely to be let go or outsourced or replaced by a cheaper younger person when you get older (and then left out in the cold). Stay with the gov't job, absolutely. Stability of employment is the major factor in choosing a ...
by chipperd
Mon Dec 18, 2017 6:09 am
Forum: Personal Finance (Not Investing)
Topic: Why You Took an Adjustable Rate Mortgage?
Replies: 43
Views: 3229

Re: Why You Took an Adjustable Rate Mortgage?

We actually took out a HELOC to finance the purchase of our home in spring, 2009 at 2.24% and paid the same monthly amount as if we had a 30-year traditional mortgage. It's up to 3.5% now and we will be refinancing to a fixed in the spring. It's been a really good deal for us, but we did it knowing ...
by chipperd
Fri Dec 15, 2017 4:17 pm
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: 2554

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

Thanks all for your responses; fantastic wisdom and info here. Much appreciated and keep 'em coming.
Chipperd
by chipperd
Fri Dec 15, 2017 6:00 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: 2554

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

Hi All, Wondering if I can cull some experience from those who have already retired. For those of us slobs still working in the coal mines, we are all trying to guestimate how much we will need to have the retirement lifestyle we desire. Hoping those who have come before can post how close your post...
by chipperd
Wed Dec 13, 2017 6:02 am
Forum: Personal Finance (Not Investing)
Topic: What are your big-picture ‘rules of life’ —financial or otherwise?
Replies: 123
Views: 12794

Re: "Desidoreta"

lostinjersey: This is my favorite poem. It has helped me through life. It can do the same for you and your family. Desidoreta Best wishes. Taylor Thank you very much for this Poem. I am aware of some of this based on life experience. :) I have bookmarked it and will go there every now and then. +1
by chipperd
Wed Dec 13, 2017 5:53 am
Forum: Investing - Help with Personal Investments
Topic: Where to save cash over 5 years.
Replies: 35
Views: 3257

Re: Where to save cash over 5 years.

Here are the 12-month returns of the mutual fund FBIDX over the last 30 years. As you can see it's pretty safe and, IMHO, a no brainer choice over a savings account or CDs. http://quotes.morningstar.com/chart/fund/chart?t=FBIDX®ion=usa&culture=en_US&dataParams=%7B%22zoomKey%22%3A11%2C%22version%...
by chipperd
Wed Dec 13, 2017 5:01 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC [Expected Family Contribution]

Thanks to all for their input and information. I truly value this as a place to seek input and learn and this post has lived up to my expectations.
Thanks again
Chipperd
by chipperd
Mon Dec 11, 2017 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

You say your oldest is a senior and the middle child is a junior. What colleges has the senior applied to, and what colleges is the junior considering? What are their GPAs and standardized test scores? What extra-curricular activities are they participating in, and are they nationally ranked in any...
by chipperd
Mon Dec 11, 2017 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

And this is what is wrong with society. When one can work and pay for college and instead stops working so they can ask for a handout. This is the kind of moralizing/political comments I specifically asked to be tabled for this discussion and would appreciate respect for my request. Thanks so much ...
by chipperd
Mon Dec 11, 2017 5:17 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

Thanks all for the input, replies and tongue biting. Some mentioned that more info was needed; feel free to ask and I'll do my best to answer to fill in requested details.
Chipperd
by chipperd
Sun Dec 10, 2017 6:27 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

And this is what is wrong with society. When one can work and pay for college and instead stops working so they can ask for a handout. This is the kind of moralizing/political comments I specifically asked to be tabled for this discussion and would appreciate respect for my request. Thanks so much ...
by chipperd
Sun Dec 10, 2017 6:24 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

And this is what is wrong with society. When one can work and pay for college and instead stops working so they can ask for a handout. This is the kind of moralizing/political comments I specifically asked to be tabled for this discussion and would appreciate respect for my request. Thanks so much ...
by chipperd
Fri Dec 08, 2017 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

Thanks for taking my request seriously. I value your feedback and insights on this forum. You're welcome! To see more of how we did it, search for 'livesoft college savings' and similar search terms. Livesoft, I searched as you suggested and found many posts from you on this topic but not one that ...
by chipperd
Fri Dec 08, 2017 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

OP, Do you have any investment money outside of retirement accounts? In other words, do you have any investment money in taxable accounts or CDs, etc? If not, will you live solely off the pension money in your 50’s and until Medicare? Yes for emergencies. We would use 457 monies, which can be acces...
by chipperd
Fri Dec 08, 2017 5:28 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

Well, i did game the system. I stopped working full-time when my oldest was about 16. Then I stopped work altogether when I had two kids in college. I found out that one could get $250,000 or more a year which was about the cost of a 4-year college degree at a private elite university back then. It...
by chipperd
Fri Dec 08, 2017 4:47 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

I'll toss in a curveball. Ever consider getting divorced? Then have the person who earns the least have custody of the children with very little child support from the other; no alimony. Since you're trying to game the system, that may be a 'better' solution. I had no idea that divorce would lead t...
by chipperd
Fri Dec 08, 2017 4:20 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

All colleges have a net price calculator. You should explore this at the schools you are considering. https://collegecost.ed.gov/netpricecenter.aspx Unless your income is low enough to qualify for a Pell Grant, aid at most public schools will be in the form of loans, with some work study. Some priv...
by chipperd
Fri Dec 08, 2017 4:18 am
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

You seem to be focusing in on college costs at the expense of all else. Are you prepared to be retired permanently? At your ages, you may find it very difficult to get a full-time, well-paying job after 8 years of minimal part-time work. So my advice would be to make darned sure that you have a ver...
by chipperd
Thu Dec 07, 2017 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

So your EFC goes down, but it seems you are presuming that financial aid will not be students loans if it is offered at all. I say try it and see all the student loan burden that you get. Also, tell me this: Did your net worth go up by $200,000+ over the past two years? That's enough for lots of co...
by chipperd
Thu Dec 07, 2017 7:54 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Re: Quit jobs to gain lower EFC

Hi all, Here I go again with an EFC question, this one is a bit of an ethical dilemma tied to it that I would like to leave out if we can. Wife and I in early 50's. Three kids all in high school; senior, junior and freshman. Given the overlap years, they could each go for 5 years (their majors may ...
by chipperd
Thu Dec 07, 2017 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6238

Quit jobs to gain lower EFC [Expected Family Contribution]

Hi all, Here I go again with an EFC question, this one is a bit of an ethical dilemma tied to it that I would like to leave out if we can. Wife and I in early 50's. Three kids all in high school; senior, junior and freshman. Given the overlap years, they could each go for 5 years (their majors may d...
by chipperd
Thu Dec 07, 2017 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

A huge mistake I humbly believe that many people make on this site is equating "maximum wealth" with "happiness" and "better life"...the latter is much more correlated with peace of mind. In that context, deciding when to start benefits is easy. Consider the fate of two retirees, Rich and Delores. ...
by chipperd
Thu Dec 07, 2017 5:13 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

"These last posts sounds dangerously close to a discussion on a "not yet enacted legislation" that the Lady of the house abhors." Agreed and not the purpose of my original question. Thanks for the reminder This was in the admin's recent post on another topic: "Speculation about future legislation i...
by chipperd
Thu Dec 07, 2017 5:10 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

"These last posts sounds dangerously close to a discussion on a "not yet enacted legislation" that the Lady of the house abhors."
Agreed and not the purpose of my original question.
Thanks for the reminder
by chipperd
Wed Dec 06, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

basspond wrote:
Wed Dec 06, 2017 6:32 am
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.
Oh, I agree. One did suggest planning for up to 75% reduction but 25% makes more sense.
Thanks
by chipperd
Wed Dec 06, 2017 5:51 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

I find it interesting and didn't expect, the varied responses on the range of commenter concerns regarding the reliability of Social Security just 12 years out. I understand and appreciate we don't know what will be of Social Security in the future and that planning and predicting national politics ...
by chipperd
Tue Dec 05, 2017 5:12 am
Forum: Personal Consumer Issues
Topic: Europe Suggestions
Replies: 44
Views: 2900

Re: Europe Suggestions

Just did a month with wife and three teens (16, 14 and 13) summer of 2016. We went to Oslo, Vienna, Salzburg, Munich, Venice, Florence, Rome, Pompeii, Barcelona and final week on the west coast of Ireland over one month. What worked for us: -Flying Norwegian air into Oslo. Although Norway is expens...
by chipperd
Tue Dec 05, 2017 5:09 am
Forum: Personal Consumer Issues
Topic: Europe Suggestions
Replies: 44
Views: 2900

Re: Europe Suggestions

Post Deleted by poster
by chipperd
Tue Dec 05, 2017 4:42 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

Doing any elaborate math or planning concerning social security when you are 12+ years away from it is an exercise in futility in my opinion... It's almost certain that the rules will change by then, so why bother. To be conservative/safe, I assume that the plan will be means tested, and that I wil...
by chipperd
Mon Dec 04, 2017 5:36 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

Doing any elaborate math or planning concerning social security when you are 12+ years away from it is an exercise in futility in my opinion... It's almost certain that the rules will change by then, so why bother. To be conservative/safe, I assume that the plan will be means tested, and that I wil...
by chipperd
Sun Dec 03, 2017 6:18 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

Hi all, Although this decision is a ways off for me, I am doing a little math and research regarding when it's "best" to take Social Security. Most of what I find on the web says to wait at least until age 67 (my full benefit age). I am having a difficult time making the math justify most of what I...
by chipperd
Sat Dec 02, 2017 3:57 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

Why the limited hours on a website? Is this much maintenance time really needed? This service is not available at this time. Please try again during our regular service hours (Eastern Time): Day Service Hours Monday-Friday 5:00 a.m. - 1:00 a.m. Saturday 5:00 a.m. - 11:00 p.m. Sunday 8:00 a.m. - 11:3...
by chipperd
Fri Dec 01, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

Thanks to all for the input, thoughts, resources, and suggestions. I am having a hard time finding a calculator that allows one to financially plan that includes social security without working until age 62 or later, or even a social security calculator that will allow a user to figure the retireme...
by chipperd
Fri Dec 01, 2017 5:37 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

Thanks to all for the input, thoughts, resources, and suggestions. I am having a hard time finding a calculator that allows one to financially plan that includes social security without working until age 62 or later, or even a social security calculator that will allow a user to figure the retiremen...
by chipperd
Sun Nov 26, 2017 5:47 am
Forum: Personal Finance (Not Investing)
Topic: bitcoin mining profits tax treatment?
Replies: 6
Views: 846

Re: bitcoin mining profits tax treatment?

Thanks all for the responses.
To answer, only "cashed out" about half so far to partially pay for expenses/electricity. Rest still in bitcoin.
Thanks again
by chipperd
Sat Nov 25, 2017 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: bitcoin mining profits tax treatment?
Replies: 6
Views: 846

bitcoin mining profits tax treatment?

Hi all,
So four friends and I went in on a bitcoin miner and we are up about $1,500 for the year as a group. How do I/we treat this profit from a tax perspective?
Thanks for the input.
Chipperd
by chipperd
Thu Nov 23, 2017 5:49 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

Financial guru Bill Bernstein had an interesting answer to the Social Security now/then question: There are two possible goals with SS: 1) buy the optimal amount of longevity insurance for a given input, or 2) optimize your total amount of SS benefits. Both are valid goals, but let's assume you wan...
by chipperd
Thu Nov 23, 2017 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

edited and can't delete
by chipperd
Wed Nov 22, 2017 5:02 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Re: Why not take Social Security at 62

To all, Thanks so much for all the input, thoughts, links to calculators that I will use in the future. After reading everyone's thoughts, I do agree that it's early for a certain decision, but I am a tire kicker with financial planning, so it's kinda fun for me to look ahead. Thanks again and keep ...
by chipperd
Tue Nov 21, 2017 6:00 am
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26742

Why not take Social Security at 62

Hi all, Although this decision is a ways off for me, I am doing a little math and research regarding when it's "best" to take Social Security. Most of what I find on the web says to wait at least until age 67 (my full benefit age). I am having a difficult time making the math justify most of what I ...
by chipperd
Sun Nov 19, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 14376

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

I'd spend much less if I couldn't use credit cards. How would I get anything online? Debit card? Paypal linked to checking account? Lots of ways, TBH. Regarding DR and credits cards its important to note who his audience is. 95% of it is broke people with consumer debt up to their eyeballs. Of cour...
by chipperd
Mon Nov 13, 2017 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA EFC number shock! [Expected Family Contribution]
Replies: 39
Views: 4396

Re: FAFSA EFC number shock! [Expected Family Contribution]

Ok. Just corrected a major error. Taxes paid was listed as "0". Put in the correct number and resubmitted.
Drumroll.....
New EFC of $32,880.
Thanks all for the input and ideas.
Much appreciated.
Chipperd