Search found 78 matches

by crazygrow
Sun Oct 21, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Amount in .gov portal incorporates future inflation when retirement 27 years away?
Replies: 3
Views: 319

Re: Social Security Amount in .gov portal incorporates future inflation when retirement 27 years away?

The benefit reported is in current dollars, but it will be adjusted for future inflation, which is what matters for your planning. If you could retire on $4000 per month and your SS will be $2000 per month, but prices double before you retire, your SS will be $4000 per month but will still cover ha...
by crazygrow
Sun Oct 21, 2018 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Amount in .gov portal incorporates future inflation when retirement 27 years away?
Replies: 3
Views: 319

Social Security Amount in .gov portal incorporates future inflation when retirement 27 years away?

Hi, Maybe a silly question. When I look in the social security portal, is that monthly benefit amount already indexed for future inflation? I'm 27 years away from FRA. I'm working to understand how much I need if I retire in 27 years and what % of that SS will replace. I have a pretty good estimate ...
by crazygrow
Fri Oct 19, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: If I'm convinced to stop making extra mortgage payments, should I recast?
Replies: 15
Views: 1980

Re: If I'm convinced to stop making extra mortgage payments, should I recast?

I recast after several large prepayments. Definitely worth the 200 fee I paid.
by crazygrow
Tue Oct 16, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Help Setting up Solo 401k
Replies: 6
Views: 414

Help Setting up Solo 401k

Hi, I've read a bunch of the threads here and some on WCI, etc., but still have some questions on things I may not fully understand. We've decided to go with Etrade. Quick background: My wife runs an online membership program geared towards helping people find their style and refine it and the busin...
by crazygrow
Thu Oct 11, 2018 4:34 pm
Forum: Personal Consumer Issues
Topic: Considering new Honda Pilot, other suggestions?
Replies: 35
Views: 1899

Re: Considering new Honda Pilot, other suggestions?

I know it is new but supposedly the VW atlas has the best room in the 3rd row. We test drove the highlander and pilot and found them gutless. The BMW was nice but third row was minuscule. Haven't looked at atlas yet but plan to despite it being brand new model.
by crazygrow
Fri Sep 07, 2018 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Self-Employed Dependent Care FSA?
Replies: 7
Views: 432

Re: Self-Employed Dependent Care FSA?

Artful Dodger wrote:
Fri Sep 07, 2018 1:03 pm
S Corp and LLC owners cannot participate in FSA plans. You can take the child care tax credit.
Thanks for confirming.
by crazygrow
Fri Sep 07, 2018 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Self-Employed Dependent Care FSA?
Replies: 7
Views: 432

Re: Self-Employed Dependent Care FSA?

aristotelian wrote:
Fri Sep 07, 2018 11:36 am
Why not just take the tax credit? The numbers work out pretty close to the same.
Thanks. For some reason I had thought this had income limitations, but doesn't look like it.
by crazygrow
Fri Sep 07, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Self-Employed Dependent Care FSA?
Replies: 7
Views: 432

Self-Employed Dependent Care FSA?

Hi everyone,

My wife and I have a LLC where we are the only two employees/owners. Where can we set up a dependent care FSA? Everything I'm seeing seems to only be for big companies.

Thanks!
by crazygrow
Tue Jul 31, 2018 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: How to prepare for "the talk"
Replies: 64
Views: 5196

Re: How to prepare for "the talk"

Do they want your help? If not, I wouldn't get involved unless there are other significant reasons (Mental health, etc.).
by crazygrow
Wed Jul 25, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Guilt at buying nice things for myself
Replies: 28
Views: 3796

Re: Guilt at buying nice things for myself

Spend money on what you are passionate about. For me that is showing my wife and kids (and me) the cultures and physical beauty of the world and I never regret the dollars I spend on that. I generally do regret large purchases of "things" unless they make my wife smile. But that is me. Find your pat...
by crazygrow
Tue Jul 24, 2018 11:23 am
Forum: Personal Finance (Not Investing)
Topic: taxes: claiming child for parent 1 while on HDHP for parent 2?
Replies: 11
Views: 1056

Re: taxes: claiming child for parent 1 while on HDHP for parent 2?

Not an expert, but from my opinion, your setup would not work because you can't claim a family level of contribution without more than one person on your taxes...
by crazygrow
Sun Jul 15, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Denied for an auto loan 2 weeks after purchase??
Replies: 39
Views: 5285

Re: Denied for an auto loan 2 weeks after purchase??

This happened to me last year with ford. We got a denial letter so I called the dealership and they showed approved. I logged into my ford account and it was indeed approved and all set up in there. Never got a good explanation.
by crazygrow
Sat Jul 14, 2018 9:32 pm
Forum: Personal Finance (Not Investing)
Topic: Lump Sum Tax Question
Replies: 4
Views: 633

Re: Lump Sum Tax Question

You would have to switch to accounting for revenue and costs on an accrual basis vs cash basis. I'm not clear on how and if sole proprietors can do this and you would need to remain consistent to some degree.
by crazygrow
Sun Jul 01, 2018 10:19 am
Forum: Personal Consumer Issues
Topic: Cheapest way to buy a phone in 2018?
Replies: 73
Views: 7598

Re: Cheapest way to buy a phone in 2018?

If you are a Costco member, they sometimes have good deals. My wife and I got 2 of the new Samsung Galaxy 9 for $1800 - $900 (B1G1 free) - $300 in Costco Cash Cards - $150 in Verizon Visa card (for bringing a new line for my kids) = $450 for the newest and latest.
by crazygrow
Thu Jun 28, 2018 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: MBA Options
Replies: 46
Views: 4537

Re: MBA Options

You really need to do a strong self-evaluation. If you aren't going anywhere, you are likely missing certain key skills (whether technical or emotional, etc.) or knowledge. Get those things solidified up. I was one who always told my wife - I'm going back to MBA school and it will be a top 3. I ende...
by crazygrow
Mon Jun 25, 2018 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving my job with no replacement - ok to get a new car loan now?
Replies: 11
Views: 1215

Leaving my job with no replacement - ok to get a new car loan now?

Hi. I'm leaving my job in the next week or two. Taking a few months off before finding a new role due to my wife's illness. We had planned to replace one of our cars because it no longer makes sense for our family due to the illness. Am I ok to get a loan and buy one now? We are financially pretty s...
by crazygrow
Wed May 09, 2018 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Another Vehicle Question
Replies: 31
Views: 1937

Re: Another Vehicle Question

As long as you are clear (in your minds) that this is a want purchase not a need purchase - which isn't a right or wrong choice, but need to distinguish. We had a Sienna minivan with six kids until recently and we roadtrip A LOT. I'd recommend looking at what you pack if you are running out of space...
by crazygrow
Wed Mar 28, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Student loans, income based repayment, and taxes
Replies: 3
Views: 428

Re: Student loans, income based repayment, and taxes

For those of us on the PAYE plan (especially those going for public service loan forgiveness - PSLF) with a spouse/partner who also has an income, it is common to file taxes MFS to lower the monthly student loan payment. Each year income has to be re-certified to stay on the income based plan. Unfo...
by crazygrow
Thu Mar 22, 2018 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 11760

Re: Losing friends/family when wealthy

Some pertinent points written in other posts but one personal experience. My wife and I enjoy socializing - just being with people whether it is at McDonalds or a fancy place. One of her siblings is quite well off but extraordinarily frugal and won't spend any money to spend time with people. It has...
by crazygrow
Mon Mar 19, 2018 1:56 pm
Forum: Investing - Help with Personal Investments
Topic: Have $800k - What do I do?
Replies: 22
Views: 4641

Re: Have $800k - What do I do?

How have you managed to only save $130K as a 35 year old engineer? I hate questions like this on the board - especially when it isn't relevant to the question being asked by the OP. There are extenuating circumstances in many peoples' lives. I had triplets and had a substantial (multiple six-figure...
by crazygrow
Sun Mar 11, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

Thanks all for the additional thoughts. To address a few of them...for those suggesting to skip this and focus on just a getaway - this is one thing we are good at. We have a goal to have two weeks every year away from the kids where we can reconnect. Definitely has been needed and we just got back ...
by crazygrow
Sat Mar 10, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

Due to the triplet pregnancy being high risk, we had to see a perinatologist for all the pregnancies. At the first appt. with child #4, our peri asked, "you do know how this happens!" He was a great, older man with a great sense of humor.
by crazygrow
Sat Mar 10, 2018 6:49 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

Other thoughts. I would also take time to talk about charity. How important is giving to each of you, how much and to whom. Also are both sets of parents alive? Will they need financial help? How much are you willing to give? This is something we are dealing with and we are about five years older. ...
by crazygrow
Sat Mar 10, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

In addition to what do you want retirement to be like, I would ask when do we want it to begin? If you are in a high stress field, you may want to get out in your 50s or early 60s rather than traditional retirement age. Is your wife comfortable with this since you will have less time to reach your ...
by crazygrow
Sat Mar 10, 2018 6:45 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

You might want to start touching on "survivor" issues. You are both still young, but often the retirement and survivor decisions intertwine. I'm assuming by this you are saying we should discuss if one of us passes - what are the points we should touch on? Re-marriage and how assets should be treat...
by crazygrow
Sat Mar 10, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

Ha. We always said we wanted 4-6 kids, but we didn't expect to have five kids in three years! And then that "long" break until #6 (about 3 years). So six kids in six years. But we have been very blessed - all are healthy, all are well behaved, etc. Estate planning is one of the things kicking this o...
by crazygrow
Sat Mar 10, 2018 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

Some advice would be that you both submit questions (i.e. not just you and bogleheads), and that you both take time to prepare notes / answers ahead of the meeting individually. That's definitely the plan and great advice. We grew up in very different lifestyles and circumstances and even though we...
by crazygrow
Sat Mar 10, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Re: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

Hulu wrote:
Sat Mar 10, 2018 1:43 pm
Frugalwoods.com has a Valentine's Day list of questions that I found were helpful for my gf and me
Yes, I like those questions. Thanks.
by crazygrow
Sat Mar 10, 2018 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?
Replies: 30
Views: 3046

Life and Financial Goals Weekend Away - What Should My Wife and I Discuss?

Hi everyone, As always, thanks for the great feedback in the past. My wife generally doesn't have a lot of interest in discussing our financial situations or in looking into the future and deciding what we want as a couple. We have decided to get away from the kids for a day or two and really focus ...
by crazygrow
Sun Feb 25, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 39
Views: 4315

Re: Amica reocurring double digit increases in homeowners insurance

So I guess the question is (and always is with insurance) - is saving $100/yr worth taking on an additional $2500 in potential risk (e.g. from $916 to $813). For me personally, I've decided that it isn't as it is likely that I will have a claim every 25 years where the deductible comes into play...
by crazygrow
Sat Feb 10, 2018 1:44 pm
Forum: Personal Consumer Issues
Topic: Children extracurricular activities
Replies: 10
Views: 1654

Re: Children extracurricular activities

We have three daughters at a great well established dance school. They love it. When offered a 10% discount for prepaying the year we jumped on it. Saved $500.
by crazygrow
Fri Jan 05, 2018 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with a single Ally Savings Account - Emergency/Contigenency/Oppurtunity/Car/Travel/Etc...
Replies: 12
Views: 1212

Re: Need help with a single Ally Savings Account - Emergency/Contigenency/Oppurtunity/Car/Travel/Etc...

I have about 20 savings accounts at Ally and they all get filled with money from my second monthly paycheck via auto transfer. Anything that isn’t a monthly or quarterly known recurring item has an account set up. Works for us and is easy.
by crazygrow
Wed Dec 27, 2017 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Do you see a meaningful change in your income with new Tax Bill?
Replies: 266
Views: 25152

Re: Do you see a meaningful change in your income with new Tax Bill?

For me, my initial estimates are that it will be significant. I've been in AMT hell and also basically lost many deductions/child tax credit/etc. due to the phase outs. WIth the new bill, I'll be able to get the child tax credit ($2,000 X 6 kids) and due to some charitable contributions we prepaid t...
by crazygrow
Tue Dec 26, 2017 12:30 am
Forum: Personal Finance (Not Investing)
Topic: AMT Disallowed Rental Depreciation Deduction; Now Sold Property and All Depreciation Included?
Replies: 2
Views: 598

AMT Disallowed Rental Depreciation Deduction; Now Sold Property and All Depreciation Included?

Hi, We sold our previous home turned rental property this year. It was a rental for the past six years. For most of the past six years, I haven't been allowed to take the loss from depreciation on the house due to AMT. Now, when I'm modeling next year's taxes in Turbotax, it is taking the full depre...
by crazygrow
Mon Dec 11, 2017 10:16 pm
Forum: Personal Consumer Issues
Topic: Japan in summer
Replies: 25
Views: 2185

Re: Japan in summer

Japan is an amazing country to visit. Yes, it has its temperature extremes, but if this is your chance to go, I wouldn't let it deter me unless you absolutely detest hot weather/humidity...
by crazygrow
Mon Nov 27, 2017 10:20 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime - Decline in Delivery Service?
Replies: 61
Views: 7082

Re: Amazon Prime - Decline in Delivery Service?

Has anyone noticed Amazon losing it's ability to deliver as promised? It used to be rare that packages would arrive late or be marked as delivered even though not delivered. Now less than half of our orders arrive on schedule as promised. The delivery date is frequently marked as "delayed" and we h...
by crazygrow
Sun Nov 26, 2017 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Too much house, right?
Replies: 88
Views: 9617

Re: Too much house, right?

so - to build, you will be spending 2 years of aggravation and 900k. What can you buy in the area for 900k - is it worth the 2 years of aggravation? Definitely an important question. Utah is not a HCOL area. This acre must be up on the benches or something. I have an acre lot, 5000 sq. ft custom ho...
by crazygrow
Sun Nov 19, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 Budget Helps/Comments
Replies: 4
Views: 579

Re: 2018 Budget Helps/Comments

How about use cash to pay off mortgage. Then divert what you would have been paying for your monthly mortgage into taxable savings. No change in lifestyle needed! Definitely have considered it, although that is our emergency fund as well. I'm a pretty conservative investor if you can't tell (with t...
by crazygrow
Sun Nov 19, 2017 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 Budget Helps/Comments
Replies: 4
Views: 579

2018 Budget Helps/Comments

Hi all, Been here for a while but haven't done a big intro post, but now am looking at next year's budget and would love some comments/thoughts/direction. Apologies in advance for a long post. Me (Husband) 39 Wife 41 (stay at home mom; recently started a small blog that is generating a small amount ...
by crazygrow
Sun Nov 19, 2017 12:19 pm
Forum: Personal Consumer Issues
Topic: How much do you budget for vacation?
Replies: 94
Views: 7533

Re: How much do you budget for vacation?

We spend a lot on vacations, somewhat because it is our love and somewhat because we are a big family (8 people). We did our first big international family trip this past year - Costa Rica for two weeks - and spent about $16k on that trip even after using skymiles for all of the plane tickets and po...
by crazygrow
Fri Nov 10, 2017 1:11 pm
Forum: Personal Consumer Issues
Topic: Updating Will To Add Additional Child
Replies: 6
Views: 641

Updating Will To Add Additional Child

Hi - quick question that this group may be able to help with. We need to update our will to add out last child (who is now 4, so finally getting around to it). The person we worked with in the past (extended family member) is long retired at this point. We only have two paper copies of his previous ...
by crazygrow
Tue Oct 03, 2017 9:08 pm
Forum: Personal Consumer Issues
Topic: Visiting Paris - should we buy tickets in advance?
Replies: 37
Views: 2452

Re: Visiting Paris - should we buy tickets in advance?

Definitely buy skip the line tickets or timed entry tickets for Versailles, Eiffel Tower (sunset is nice), and catacombs. The Louvre there is an underground entrance that the line is way shorter and air conditioned.
by crazygrow
Tue Sep 26, 2017 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's Business Losing Money - Can She Deduct A Salary?
Replies: 14
Views: 3035

Re: Wife's Business Losing Money - Can She Deduct A Salary?

Thanks. We have been reviewing the structure and will likely move into either an LLC or S-corp in the next year. We plan on having 2-3 employees next year, etc. that will make us move away from a sole proprietor.
by crazygrow
Tue Sep 26, 2017 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's Business Losing Money - Can She Deduct A Salary?
Replies: 14
Views: 3035

Re: Wife's Business Losing Money - Can She Deduct A Salary?

Hi all, Sorry for the slow response. I figured I was overthinking it. We estimate that by the end of the year, we will have put in about $15k and she will have made about $5k. In good news, almost all of that $5k is coming in the last few months and things are ramping up well. We don't expect to hav...
by crazygrow
Sun Sep 24, 2017 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Wife's Business Losing Money - Can She Deduct A Salary?
Replies: 14
Views: 3035

Wife's Business Losing Money - Can She Deduct A Salary?

Hi - my wife started a business this year that we are funding through our normal income. It is her full time gig and she spends between 30-40 hours/week on it and it is gaining traction. Up to this point, we have just been keeping track of expenses and income without paying her for her time, which i...
by crazygrow
Tue Sep 12, 2017 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: Brother in College Co-Signing w/ Buddy for Duplex
Replies: 41
Views: 3851

Re: Brother in College Co-Signing w/ Buddy for Duplex

Former BYU student. My aunt/uncle own a bunch of duplexes, etc. around campus. They have seen awesome amounts of appreciation, especially a few years ago when BYU made housing requirements more strict (maybe 7-8 years ago?). But they now aren't seeing any appreciation and aren't expecting anymore. T...
by crazygrow
Thu Aug 10, 2017 2:13 pm
Forum: Personal Consumer Issues
Topic: Aug. 2017 US total eclipse hotel reservations.
Replies: 83
Views: 10053

Re: Aug. 2017 US total eclipse hotel reservations.

Good luck to everyone trying to get into the totality zones. They are saying the road between Idaho and Utah (I-15) will be backed up for hours and potentially days, especially afterwards. In Idaho they are putting out port a potties along the freeway and encouraging people to have several days of s...
by crazygrow
Fri Jun 30, 2017 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a $520k House in LCOLA
Replies: 23
Views: 3649

Re: Buying a $520k House in LCOLA

You are right to be considering the "community" aspect. When we moved to a new location (with our six kids), we really wanted a farm/ranch with ~10-20 acres. We wouldn't really have neighbors so our only interaction with people would be school/church/work. After really thinking about it, we decided ...