Search found 1732 matches

by delamer
Tue Apr 25, 2017 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Is this a good long term care policy?
Replies: 11
Views: 540

Re: Is this a good long term care policy?

I agree that it sounds like a bargain. Keep in mind, you are paying the comparable price for a 49 year old (your age when purchased), and you are now 66. The one pertinant feature you don't mention is the benefit duration, i.e., how long will it pay benefits once you satisfy the 90 day waiting peri...
by delamer
Tue Apr 25, 2017 4:47 pm
Forum: Investing - Help with Personal Investments
Topic: Retiree Withdrawal Portfolio
Replies: 19
Views: 1506

Re: Retiree Withdrawal Portfolio

To cover the gap period from 63 to 66, put $36,000 for each year into cash -- so roughly $110,000. Then she can invest the rest appropriately to support the withdrawals that she needs once her Social Security kicks in. With $640,000, she should be fine covering the additional $17,000/year she wants....
by delamer
Tue Apr 25, 2017 12:33 pm
Forum: Personal Consumer Issues
Topic: co-worker had a baby chipping in on gift- how much?
Replies: 50
Views: 2046

Re: co-worker had a baby chipping in on gift- how much?

I retired from an office of 50 people. Some would not get a dime from me for a baby gift because I had limited contact with them and/or because the contact I had was unpleasant. Others who I interacted with regularly and pleasantly certainly would get $20. I understand that in smaller offices it wou...
by delamer
Tue Apr 25, 2017 10:25 am
Forum: Personal Consumer Issues
Topic: Are people aware that Verizon email is being terminated?
Replies: 54
Views: 5570

Re: Are people aware that Verizon email is being terminated?

My notification that my Verizon bill was available online was marked as spam by AOL. And the Bogleheads notifications are always marked as spam, even though I have had a bunch of them and have corrected them online. And I made a Vanguard transaction acknowledgement, which also wound up in my spam f...
by delamer
Mon Apr 24, 2017 10:13 pm
Forum: Investing - Theory, News & General
Topic: Thinking in real vs. nominal
Replies: 32
Views: 1927

Re: Thinking in real vs. nominal

You are overthinking this. These are estimates of both future inflation and future investment returns. No one family or individual has a personal inflation rate that is the same as what the CPI measures. Take your best guess for both, and use them in your planning. It is easier to use real returns b...
by delamer
Mon Apr 24, 2017 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: First Mortgage, need help with financial considerations (15 vs. 30 year)
Replies: 21
Views: 1481

Re: First Mortgage, need help with financial considerations (15 vs. 30 year)

Given your relatively young ages, your health concerns, and that this may not be your "forever" home, go with the 30-year.

You can prepay principal to the extent you are comfortable and have funds available.

EDIT: I have never heard of a loan setup fee or a realtor admin fee.
by delamer
Mon Apr 24, 2017 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 56
Views: 4542

Re: Helping adult children

I'd love to hear comments from folks who may be in a similar situation. Do you feel it's necessary to let Son 2 specifics as to how you are helping Son 1's family. Is it really any of his business while we are still alive? Fair is fair, irrespective of what one needs. I see no health- or safety-rel...
by delamer
Mon Apr 24, 2017 7:41 pm
Forum: Personal Consumer Issues
Topic: Are CCRCs a good deal? [Continuing Care Retirement Community]
Replies: 22
Views: 1793

Re: Are CCRCs a good deal?

I'm somewhat familiar with the John Knox CCRC in Kansas City. The Independent Living, Assisted Living, and Long Term Care facilities are in different locations. It is important to check out each one to determine how well you will be satisfied when you move. Most folks move in initially into the Ind...
by delamer
Sun Apr 23, 2017 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Options for downpayment (Good or bad?)
Replies: 13
Views: 924

Re: Options for downpayment (Good or bad?)

I plugged your numbers into a calculator and you can get approved for a $540,000 mortgage, so a $570,000 home, with a 3.75%/30 year mortgage. (I used estimates for property tax and insurance.) So you can't finance what you need based on your income unless you do an adjustable rate or interest only l...
by delamer
Sun Apr 23, 2017 7:11 pm
Forum: Personal Consumer Issues
Topic: Are CCRCs a good deal? [Continuing Care Retirement Community]
Replies: 22
Views: 1793

Re: Are CCRCs a good deal?

My mother lived in a CCRC for the last 15 years of her life -- 14.5 years in her independent apartment and 6 months in skilled nursing. She made many friends and was treated well by the staff. The place reminded me of a cruise ship in the sense that there were many activities and residents could par...
by delamer
Sun Apr 23, 2017 6:36 pm
Forum: Investing - Theory, News & General
Topic: Is $20K I-Bonds considered cash or bond?
Replies: 55
Views: 3386

Re: Is $20K I-Bonds considered cash or bond?

I think really important thing is simply the relative allocation of "stocks" versus "conservative assets." So I wouldn't worry too much about the distribution within the "conservative assets" part of the portfolio. "Bonds" can include everything from fairly r...
by delamer
Sun Apr 23, 2017 5:40 pm
Forum: Investing - Help with Personal Investments
Topic: Help with father's investments - fixed income
Replies: 4
Views: 605

Re: Help with father's investments - fixed income

If I read everything correctly, your father has about $280K in assets and expenses (after his pension) of $48K per year. Does this include any cushion for his medical care like doctors' fees, medication, lab tests? Having about one-third of his portfolio in stocks seems too risky, given his age and ...
by delamer
Sun Apr 23, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 128
Views: 12641

Re: Any regrets living a frugal life for high income/high networth individuals?

Another question for the high income frugal individuals. How often did you have to bat off "Keeping up with the Joneses"? Did it come up regularly where you saw co-workers/friends/relatives taking their trips to Italy and Spain, getting their new (insert item here) and you felt a need to ...
by delamer
Sun Apr 23, 2017 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 128
Views: 12641

Re: Any regrets living a frugal life for high income/high networth individuals?

We could spend more on vacations but we have difficulty getting away for long because of elderly relatives that need minding. I don't wash them often because they get dirty just going down the driveway. I would think for general health and hygiene reasons you should wash them daily - even if they d...
by delamer
Sun Apr 23, 2017 10:15 am
Forum: Personal Finance (Not Investing)
Topic: please advise- are we on target ?
Replies: 17
Views: 1384

Re: Are we on track to meet our goals ?

Thank you all for your replies and advise. Delamer, most of my investments are at Vanguard. What I quoted as 6% is my personal rate of return as per vanguard. It says it is the "internal rate of return" (it says cumulative return ) from inception of my account in 2007 till now. For exampl...
by delamer
Sun Apr 23, 2017 12:06 am
Forum: Investing - Help with Personal Investments
Topic: Not sure what account to open and with whom
Replies: 15
Views: 1210

Re: Not sure what account to open and with whom

Don't be so quick about rolling over 401k. If it has low-ER total market funds, it might make sense to leave it there. Have you already rolled over and bought American Funds? Loads are not a good idea, but if done then it is a sunk cost. Watch out for high fees and bad advice from advisors. They ma...
by delamer
Sat Apr 22, 2017 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: please advise- are we on target ?
Replies: 17
Views: 1384

Re: Are we on track to meet our goals ?

So that is $5.7 million in assets needed. You have $2.7 million by my count now. I didn't put OP's numbers together or do any thinking on this situation :D but if OP has $2.7M now, using the Rule of 72, in 10 years, that amount alone will be twice as much ($5.4M) if they can make 7.2% a year. This ...
by delamer
Sat Apr 22, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: please advise- are we on target ?
Replies: 17
Views: 1384

Re: Are we on track to meet our goals ?

If your combined Social Security is in the neighborhood of $55,000/year (at FRA) plus you have the $40,000 pension (assuming current dollars), then you need about $100,000 from your investments to meet your goal beginning at 66. Call it $2.5 million, at a 4% withdrawal rate. Then you'll need to set ...
by delamer
Sat Apr 22, 2017 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: PMI and too much in tax-deferred?
Replies: 4
Views: 427

Re: PMI and too much in tax-deferred?

There are 80/10/10 loans where you put down 10%, get an 80% first mortgage, and a 10% second mortgage with a higher interest rate than the first. But the second mortgage interest is deductible, and generally preferable to PMI. FYI, you don't have to be in the 33% bracket to get hit with the AMT. Ask...
by delamer
Sat Apr 22, 2017 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Does mom need estate planning?
Replies: 12
Views: 918

Re: Does mom need estate planning?

If she left you the residence and rental property in a will instead of sharing ownership with you, wouldn't you get a stepped up basis? Also, she's only 60. Say she lives another 35 years. Won't things possibly change over that time? What's a stepped up basis? From the wiki: "A special provisi...
by delamer
Sat Apr 22, 2017 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for parents needed.
Replies: 4
Views: 515

Re: Advice for parents needed.

Try to find out from your parents:

1. What their marginal tax rate is. Does LA have a state income tax?
2. How they want to use the inheritance. The recommendations for how to invest it could differ if they want current income versus letting it accumulate for growth.
by delamer
Sat Apr 22, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Does mom need estate planning?
Replies: 12
Views: 918

Re: Does mom need estate planning?

Is you sister mentally or physically disabled? It seems she should have things set up legally rather than depend on you for all of that. What happens if you die, get married, get divorced, get sued, get disabled, or any number of possibilities? A lawyer could set things up legally to take care of h...
by delamer
Sat Apr 22, 2017 3:41 pm
Forum: Investing - Help with Personal Investments
Topic: safest way to do a TSP60 transfer from Vanguard?
Replies: 4
Views: 338

Re: safest way to do a TSP60 transfer from Vanguard?

You could move your $100k into money market and let it sit there while the paperwork is in transit. You won't make any money, but you won't lose any either. Since it is going into G Fund, moving it to money market will just start your risk lowering sooner. Seems like I did it by snail mail or maybe...
by delamer
Sat Apr 22, 2017 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Calling for all the Moms: career and family.
Replies: 44
Views: 4710

Re: Calling for all the Moms: career and family.

What about your parents? Any "serious talk" needs to include them. They are obviously a huge source of tension with your husband. While most people feel an obligation -- either personal or societal -- to help their parents, your first obligation is to your husband and daughters. In the wor...
by delamer
Sat Apr 22, 2017 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: job change early retirement health insurance question
Replies: 6
Views: 807

Re: job change early retirement health insurance question

Thanks for the helpful responses. I will have to check if having other insurance disqualifies me from continuing the retiree health insurance. I don't think so because it's not a subsidized plan and quite expensive, similar to Cobra. The main attraction is the continuation to fill in the gap years....
by delamer
Fri Apr 21, 2017 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: job change early retirement health insurance question
Replies: 6
Views: 807

Re: job change early retirement health insurance question

Assuming that you'd continue to be eligible for your retiree benefits if you take a post-retirement job, why would you end up with double coverage? Wouldn't you just decline coverage at the new job? In fact, my husband's company gives him a quarterly bonus for not taking health insurance through it....
by delamer
Fri Apr 21, 2017 3:44 pm
Forum: Personal Finance (Not Investing)
Topic: To refinance(two strategies). Please advise.
Replies: 11
Views: 538

Re: To refinance(two strategies). Please advise.

Are you itemizing deductions on your taxes? If so, try rerunning your numbers taking tax savings on interest into account.
by delamer
Fri Apr 21, 2017 2:56 pm
Forum: Investing - Help with Personal Investments
Topic: Not sure what account to open and with whom
Replies: 15
Views: 1210

Re: Not sure what account to open and with whom

This will be a good start to help with your decision: http://www.etf.com/docs/IfYouCan.pdf
by delamer
Thu Apr 20, 2017 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

How would I calculate the pension? If it were me I would use the pension in today's dollars. The 2% should keep up with inflation over time. Best wishes on your retirement. Enjoy Clearly, you were not around or don't remember the plus-10% inflation of the late '70s and early '80s. I believe the his...
by delamer
Thu Apr 20, 2017 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Yes, your 2% simple interest is similar to the COLA on Social Security. The SS annual inflation adjustment is compounded, which is more generous than your pension. Your 2% interest is more generous when inflation as measured by the CPI is below 2% and stingier when inflation is greater than 2%. You ...
by delamer
Thu Apr 20, 2017 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

delamer Income protection (purchasing power protection)from Calstrs "The purchasing power protection program is a supplemental benefit paid quarterly if the value of the initial pension amount falls below 85 percent of value, as measured by the California Consumer Price Index once the 2 percen...
by delamer
Thu Apr 20, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

How does the income protection work?

You can probably take about $1500/month from your savings. So $6200 a month before taxes. This also ignores the extra $500/month for 10 years.
by delamer
Thu Apr 20, 2017 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: How to reduce my income tax
Replies: 31
Views: 3040

Re: How to reduce my income tax

Contribute to 529 plan for VA state tax deduction.
by delamer
Thu Apr 20, 2017 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: How to Handle Taxes on One Time Windfall (sale)
Replies: 13
Views: 936

Re: How to Handle Taxes on One Time Windfall (sale)

Am I being naive to think that the IRS would not penalize you for not paying taxes on capital gains until you actually incur them? In my state, you can show your income by quarter when you file your taxes and you will not have to pay a penalty for undepayment if you paid extra taxes for the quarter ...
by delamer
Thu Apr 20, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Delamer and Wizard- Thanks for the clarification. My uneasiness is the 4 years health care premium out of my pocket. I can live with $300 per month (today's rate) I think the best thing to do is to pay off my mortgage and heloc with my 457B funds upon retirement. I will feel better psychologically ...
by delamer
Thu Apr 20, 2017 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

From 61 to 65, I am able to keep the School District's health plan. However, i will no longer have the $500 per month subsidy. $1000 per month for medicare seems extremely high. Is this an estimate for future expenses? What is the Medicare tax of 1.45% deducted from my salary for? According to CALP...
by delamer
Thu Apr 20, 2017 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

From 61 to 65, I am able to keep the School District's health plan. However, i will no longer have the $500 per month subsidy. $1000 per month for medicare seems extremely high. Is this an estimate for future expenses? What is the Medicare tax of 1.45% deducted from my salary for? According to CALP...
by delamer
Thu Apr 20, 2017 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Without knowing your expenses, there's no way to determine if you're financially set to retire. If your annual spending is $100k/year, then you're likely in trouble. If your annual spending is $30k/year, then you're likely able to increase your lifestyle in retirement. I'm guessing you're actually ...
by delamer
Thu Apr 20, 2017 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Did I make a good decision to retire July 2017 instead of July 2018?
Replies: 56
Views: 4814

Re: Did I make a good decision to retire July 2017 instead of July 2018?

Check out your state's "Obamacare" health insurance exchange to see what the current premiums are for a 61 year old. Obviously they will go up in the next few years, but at least you'll have some idea of how much to expect to pay when the time comes. You might also have the option of stayi...
by delamer
Thu Apr 20, 2017 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Calling for all the Moms: career and family.
Replies: 44
Views: 4710

Re: Calling for all the Moms: career and family

Recently retired working mother here. The vast majority of working mothers end up making some kind if trade-off between having career success, maximizing earnings, being a mother, being a wife, being a friend, caring for extended family, having personal time. I have never seen two mothers handle tho...
by delamer
Wed Apr 19, 2017 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Adult child lack of availability at tax time.
Replies: 24
Views: 1874

Re: Adult child lack of availability at tax time.

flyingbison wrote:Do nothing. You are making this your problem, and it has nothing to do with you.


Agreed. And get his address put on his 1099 forms so he has access to what he needs to file himself.
by delamer
Tue Apr 18, 2017 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance to 15 Yr Mortgage
Replies: 7
Views: 920

Re: Refinance to 15 Yr Mortgage

If you are sure this isn't your long-term house, then don't do the refi. Keep the liquidity and flexibility of the lower payment.
by delamer
Tue Apr 18, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: My kids don't care about saving
Replies: 114
Views: 10782

Re: My kids don't care about saving

I wonder if giving them a check to put in their Roth would make a difference. To me, directly contributing to their Roth crosses a subtle line between "giving the child a fish" and "teaching the child to fish". If you give it to them to invest rather than investing it for them, ...
by delamer
Mon Apr 17, 2017 9:40 pm
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7452

Re: How much money do you need to generate $50,000 per month?

The Wizard wrote:
delamer wrote:$50K per month

$50K per month is almost enough that one needn't be concerned about how much it costs to fuel up the yacht for a weeklong trip to somewhere...


First world problem (as are the taxes!) as my kid would say :o
by delamer
Mon Apr 17, 2017 9:27 pm
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7452

Re: How much money do you need to generate $50,000 per month?

I have a friend who is looking to generate around $50k per month. Let's call it $40k after taxes. In the past it was safe to say you could achieve $50k annually per $1 million invested which would equate to around $12 million or so. I am not sure if this is still the case. Thoughts? A 25% effective...
by delamer
Mon Apr 17, 2017 9:19 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 120
Views: 12059

Re: Too much inheritance to handle. Advice needed

With the brokerage account, you will have tax consequences if you sell existing assets. So don't rush into selling until you understand the taxes you will owe. Better to leave things as they were before your father died. You could consult a CPA if needed. If there was an attorney who helped settle ...
by delamer
Mon Apr 17, 2017 9:07 pm
Forum: Investing - Help with Personal Investments
Topic: How much money do you need to generate $50,000 per month?
Replies: 60
Views: 7452

Re: How much money do you need to generate $50,000 per month?

I have a friend who is looking to generate around $50k per month. Let's call it $40k after taxes. In the past it was safe to say you could achieve $50k annually per $1 million invested which would equate to around $12 million or so. I am not sure if this is still the case. Thoughts? A 25% effective...
by delamer
Mon Apr 17, 2017 8:56 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 120
Views: 12059

Re: Too much inheritance to handle. Advice needed

With the brokerage account, you will have tax consequences if you sell existing assets. So don't rush into selling until you understand the taxes you will owe. Better to leave things as they were before your father died. You could consult a CPA if needed. If there was an attorney who helped settle y...
by delamer
Mon Apr 17, 2017 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Carrying a mortgage into retirement
Replies: 39
Views: 4503

Re: Carrying a mortgage into retirement

Selling current home when we retire with anticipated 200K equity. Will likely buy property for retirement building in the next year with cash and build the home during the last year before retirement. The 500K actually includes the property which is about 90K, so I might only have to mortgage about...
by delamer
Mon Apr 17, 2017 7:36 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 120
Views: 12059

Re: Too much inheritance to handle. Advice needed

I would inform the advisor IN WRITING that you don't want him to make any changes in investments until further notice from you or your mother. I would also put a halt to moving the 401(k) money if it hasn't happened yet. You have something of a learning curve ahead of you, so you don't want the advi...

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