Search found 409 matches

by jimmyrules712
Wed May 24, 2017 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Question
Replies: 11
Views: 796

Re: Auto Insurance Question

I disagree, your original question skipped over some of the crucial benefits of UM/UIM and was framed by your belief that the coverage is duplicative to what your health insurance provides. You disagree with my statement that your response didn't answer my primary question? I'm not sure why you thi...
by jimmyrules712
Wed May 24, 2017 9:32 am
Forum: Investing - Help with Personal Investments
Topic: When should my MIL take SS?
Replies: 5
Views: 464

When should my MIL take SS?

My MIL is currently 62. Her husband died 2 years ago and she has not remarried. She has virtually zero retirement savings and works part time (20-30 hours a week) at a school making around $10 an hour. Prior to her husband dying she worked very little, maybe 10 hours a week. She lives very frugally ...
by jimmyrules712
Mon May 15, 2017 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Question
Replies: 11
Views: 796

Re: Auto Insurance Question

I think a few of you have misunderstood my question. I know what UIM covers and generally what the benefits are. My question is what happens when there are medical claims as well as other claims (disability, lost wages, dismemberment, P&T, etc.) that combined exceed the limit of the policy? If t...
by jimmyrules712
Mon May 15, 2017 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Question
Replies: 11
Views: 796

Auto Insurance Question

I'm considering increasing my uninsured motor vehicle coverage but need to better understand how this all works first. Let's say I get hit by an uninsured driver and I have $25,000/$50,000 uninsured coverage and the driver inflicts serious medical damage causing long term pain/discomfort, requiring ...
by jimmyrules712
Thu May 11, 2017 8:27 am
Forum: Personal Consumer Issues
Topic: Should I switch my home electric bill to "Time of Day" billing?
Replies: 22
Views: 1947

Re: Should I switch my home electric bill to "Time of Day" billing?

The hassle was about 15 minutes while the OG&E contractor came in my house and wired in the thermostat. I did not see a change for about 8 months out of the year. The electric bills for July, August, September went down from $240 to $150 month. It was worth it for me! :happy I really meant the ...
by jimmyrules712
Wed May 10, 2017 4:54 pm
Forum: Personal Consumer Issues
Topic: Should I switch my home electric bill to "Time of Day" billing?
Replies: 22
Views: 1947

Re: Should I switch my home electric bill to "Time of Day" billing?

I am in Oklahoma. OG&E provided an A/C programmable thermostat that is connected to their time of day/surge billing. You have several choices for economy vs comfort. If we have a 105° heat wave and the surge pricing goes from .05 kWh to .49 cents per kWh hour you can tell it beforehand to wait ...
by jimmyrules712
Wed May 10, 2017 3:42 pm
Forum: Personal Consumer Issues
Topic: Should I switch my home electric bill to "Time of Day" billing?
Replies: 22
Views: 1947

Re: Should I switch my home electric bill to "Time of Day" billing?

Are you usually home from 2-7? Can you switch back if you dont like it? My wife worked for water and power for a large city around here. It all depends on if you are home. I have that option too, but now she works from home so during those peak times, air conditioning is a must. We have kept the fl...
by jimmyrules712
Wed May 10, 2017 3:27 pm
Forum: Personal Consumer Issues
Topic: Should I switch my home electric bill to "Time of Day" billing?
Replies: 22
Views: 1947

Should I switch my home electric bill to "Time of Day" billing?

I live in Oklahoma. For the months of June-October, my electric company has given me the option of switching from flat rate billing to paying higher rates for power between 2pm and 7pm M-F and lower rates for the rest of the hours. They claim it will save me money. The peak rate would be 10.18 cents...
by jimmyrules712
Thu May 04, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Re: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

Agreed an additional part-time job with a PhD program is impossible. Is it just fully funded for the first year? Are additional years of funding "guaranteed"? We recently went through a pscyhology PhD program at a similar state school/R1 research institution and only the first year's fund...
by jimmyrules712
Thu May 04, 2017 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Re: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

She has a masters in psychology right now and is a licensed marriage and family therapist. She makes about $40k a year right now and has few career options. This is a PhD in counseling psychology and will allow her to work as a licensed Psychology. Her take home pay should get a decent increase. Ah...
by jimmyrules712
Thu May 04, 2017 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Re: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

It seems she can get another part-time job to help with paying expenses. She's going to be taking 15 hours of post-graduate classes (9 hours of post grad is normally considered "full time"), working 20 hours a week for the assistantship, and will have a required 12 hours a week of "P...
by jimmyrules712
Thu May 04, 2017 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Re: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

Home equity loan might be a good option. You can deduct the interest. Also, see if your state has a 529 program. Sometimes you can cycle the home equity money through as a contribution and get tax benefits. For example, in Illinois, one can deduct up to $10,000 ($20,000 per couple) and save 3.75% o...
by jimmyrules712
Thu May 04, 2017 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Re: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

What field is your wife planning to get her PhD in? Attempting a non-fully funded PhD is generally not viewed as a good idea. Indeed, its generally a horrible financial deal. And WHY is she getting a PhD? Career advancement? What field? What are the alternatives? Would a higher GRE score help her g...
by jimmyrules712
Thu May 04, 2017 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Re: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

My wife was paid around $30k/year to get a phd (stipend.) Seems sketch they arent paying her something. The program is "fully funded" with a .5 assistantship that provides a full tuition waiver and $12k per year stipend. Tuition waiver does not cover about $4k per semester in "fees&q...
by jimmyrules712
Thu May 04, 2017 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Re: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

I'd probably opt for the Home Equity Loan in that situation. Just curious, but what on earth generates 10K worth of "fees" at this university? Also, how realistic is the 3-4 year timeline? What field is she in? Many people take a lot long er than that to finish (though she may not need to...
by jimmyrules712
Thu May 04, 2017 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)
Replies: 50
Views: 3130

Wife getting PhD, how to fund? (student vs 401k loan vs home equity, etc)

My wife is about to start a 3-4 year PhD program. I'm in my early 30's and she is late 20's. It is "fully funded" with a stipend which means it comes with a "tuition waiver" in exchange for 20 hours a week of work from her in addition to her studies. So we won't have to pay tuiti...
by jimmyrules712
Tue May 02, 2017 9:13 pm
Forum: Investing - Help with Personal Investments
Topic: Should I move Solo-401k to Rollover IRA?
Replies: 28
Views: 904

Re: Should I move Solo-401k to Rollover IRA?

I have to say this is a very interesting subject and I appreciate all the discussion. My wife is currently self employed and has a solo 401k with Fidelity. She's about to stop her work for a few years to go back to school and get a post graduate degree. We expect she may resume her self employed wor...
by jimmyrules712
Thu Apr 20, 2017 3:50 pm
Forum: Personal Consumer Issues
Topic: Fidelity card 2% but NOT as statement credit
Replies: 27
Views: 2632

Re: Fidelity card 2% but NOT as statement credit

I like the Fidelity Visa card so much that I have two. One for business and one for home. In another thread we discuss that you may only be getting 1.5 percent on your deposit and it seems like one of the credit cards give me a 1.5 percent deposit into my Fidelity account and the other one does 2 p...
by jimmyrules712
Thu Apr 20, 2017 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 129
Views: 12735

Re: Do you have an umbrella policy?

I recently signed up for a $1 million umbrella policy for the first time and actually saved money overall doing it by lowering my auto and home liability coverage to the minimum required for the umbrella to kick in (they were above that minimum before) and raising the deductibles a bit. I'm in my ea...
by jimmyrules712
Thu Apr 20, 2017 12:59 pm
Forum: Personal Consumer Issues
Topic: Fidelity card 2% but NOT as statement credit
Replies: 27
Views: 2632

Re: Fidelity card 2% but NOT as statement credit

For those like me who have both Fidelity and Citi double cash and think of both as their 2% cards, I learned something interesting today. I had decided that instead of putting the money into my son's 529, that I would instead take advantage of the statement credit. Going through the process, indeed...
by jimmyrules712
Fri Mar 24, 2017 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Wife Getting PHD. Should I open a 529 Account
Replies: 6
Views: 911

Wife Getting PHD. Should I open a 529 Account

My wife and i live in Oklahoma and she's going to a local in state school to get a PHD. She's going to have a "tuition waiver" that covers all tuition cost but I was told to expect about $4,000 per semester in "fees". It's far enough away that she's also going to pay for an apart...
by jimmyrules712
Mon Mar 20, 2017 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: Wife going back to school. What financial steps should I take?
Replies: 23
Views: 1257

Re: Wife going back to school. What financial steps should I take?

I've seen colleagues do the same thing even when the career change doesn't seem rational after dealing with infertility; it's a way to take control of something when you feel a lack of control. I really appreciate this comment. You're absolutely right. A big driver here is both of us wanting to mak...
by jimmyrules712
Mon Mar 20, 2017 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Wife going back to school. What financial steps should I take?
Replies: 23
Views: 1257

Re: Wife going back to school. What financial steps should I take?

I would think long and hard about this. I know several licensed psychologists who make well under 6 figures and do side hustles like teaching yoga to try to make ends meet, despite having a laundry list of prestigious degrees that took many years and many thousands of dollars to obtain. If increasi...
by jimmyrules712
Mon Mar 20, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Wife going back to school. What financial steps should I take?
Replies: 23
Views: 1257

Re: Wife going back to school. What financial steps should I take?

In response to several replies; yes probably every other weekend I'd go see her instead of her coming to me.

Also I think part of the reason for the shorter 3 year program is she already has a masters degree in that field so some of those classes will transfer over.
by jimmyrules712
Mon Mar 20, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Wife going back to school. What financial steps should I take?
Replies: 23
Views: 1257

Wife going back to school. What financial steps should I take?

Here's our situation. My wife is currently a marriage and family therapist making about $35k. She just got an offer to join a fully funded & accredited 3 year PHD program at one of the big state schools that's about a 3 hour drive away. Tuition is funded and it comes with a living stipend of abo...
by jimmyrules712
Mon Jul 18, 2016 11:47 am
Forum: Personal Finance (Not Investing)
Topic: Tax question regarding estimated tax payments
Replies: 1
Views: 226

Tax question regarding estimated tax payments

My wife is a 1099 contractor, I'm a W2 employee. We used to make quarterly estimated tax payments for my wife's income but at the start of this year I just increased my withholding to account for her income so the estimated tax payments wouldn't be needed. Our joint taxable income for this year shou...
by jimmyrules712
Wed Jul 13, 2016 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

My biggest concern is that you are relying on a pension to provide $1,000,000 which only has $43,000 in it today. It's easier to start with what you have, add what you really add, and see where you land. You have: $100k his 401k $43k cash balance pension $17k her solo 401k So $160k. At a rate of 4%...
by jimmyrules712
Wed Jul 13, 2016 9:24 am
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

Easier to do everything in today's dollars so as to estimate actual purchasing power. So the $1,000,000 may be more like $400,000 in today's dollars. SS $1700, your spouse another $800. These are totally wild guesses butane ballpark. The $400,000 will kick off $1000 per month in apending. That's $3...
by jimmyrules712
Wed Jul 13, 2016 9:12 am
Forum: Personal Finance (Not Investing)
Topic: New Fidelity Visa: How to Log In?
Replies: 17
Views: 2589

Re: New Fidelity Visa: How to Log In?

They sent me a 1.5% visa to replace 1.5%, quick call and they set it to 2% no fuss. Interesting. I had both the AMEX and Visa from the old bank. I received my new cards about 1 month ago. I've called numerous times asking to convert the old visa to the 2% program and everytime I call they tell me t...
by jimmyrules712
Wed Jul 13, 2016 8:49 am
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

Divide your expected social security payment by 2. Why? I got that number from the SSA.gov website. I got the quote at https://www.ssa.gov/cgi-bin/benefit6.cgi. Enter in birth day of 1/1/1987, current year earnings of $100,000, year planning to retire at 2036, and I set it to show inflated future d...
by jimmyrules712
Wed Jul 13, 2016 8:48 am
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

IVF was not successful. Now we're looking at adoption (which is another $25k sadly). Sorry to hear that. Good luck with the adoption! I"m paying about $900 per year for my $1.25 mil term life and my wife's $500k policy is around $300 per year. Considering how young we are and how much our inco...
by jimmyrules712
Tue Jul 12, 2016 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

You didn't mention if IVF was successful or not? If it was successful, it's money well spent. If not, I'm sorry to hear about your sturggles. I think you're way overinsured. $1.25 million for you plus $0.5 million for her seems like an absolute ton of insurance. While term life insurance is cheap a...
by jimmyrules712
Tue Jul 12, 2016 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

Divide your expected social security payment by 2. Why? I got that number from the SSA.gov website. I got the quote at https://www.ssa.gov/cgi-bin/benefit6.cgi. Enter in birth day of 1/1/1987, current year earnings of $100,000, year planning to retire at 2036, and I set it to show inflated future d...
by jimmyrules712
Tue Jul 12, 2016 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

That's good. But most plans still allow you to contribute more that won't be matched. You should strive for that. I'm aware of that, I was responding to your question on what they're matching limit is. Certainly your $5738/month estimate for social security at 62 is incorrect. The way to know for s...
by jimmyrules712
Tue Jul 12, 2016 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

Re: How are we doing?

Nice company match on your 401k! What is their 1:2 matching limit? (You might want to bump up your 5% contribution there. If you must, do it over time - perhaps every time you get a raise or bonus). What happens when the babies arrive? Will your wife continue working and contributing to her solo 40...
by jimmyrules712
Tue Jul 12, 2016 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: How are we doing?
Replies: 21
Views: 2376

How are we doing?

Greetings Bogleheads. I’ve been off the grid for a while and want to check and and get feedback on how my wife and I are doing. We've been trying to have children and hadn't been having much luck which led us to doing 2 cycles of IVF earlier this year which we shelled out around $30k for which is th...
by jimmyrules712
Tue Mar 01, 2016 10:56 am
Forum: Personal Finance (Not Investing)
Topic: Converting landline phone to Google Voice
Replies: 16
Views: 2022

Re: Converting landline phone to Google Voice

I've been using google voice with any OBihai device for 2 years or so. Works fantastically. No call issues at all.
by jimmyrules712
Thu Feb 25, 2016 9:56 am
Forum: Investing - Theory, News & General
Topic: Hesitant about starting Vanguard brokerage acct
Replies: 16
Views: 2361

Re: Hesitant about starting Vanguard brokerage acct

What are supposed advantages for the customer in this long term move to VBS? If you're a strict boglehead (only invest in low cost index funds) then the only thing you would likely use VBS for is ETFs. There are many more low cost index ETF options than there are mutual funds and often the ETF cost...
by jimmyrules712
Thu Feb 25, 2016 9:43 am
Forum: Investing - Help with Personal Investments
Topic: The first day of the rest of my life [help with investment direction]
Replies: 4
Views: 614

Re: The first day of the rest of my life [help with investment direction]

Generally it would be best to put as much money into tax advantaged accounts as possible (401k, roth ira) for as many years as possible, even if that means putting more in the 401k than you can afford for the next few years and using the $85k in savings to supplement the lost income and live off of....
by jimmyrules712
Mon Feb 22, 2016 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity Solo 401k Profit Sharing Contribution Question
Replies: 11
Views: 925

Re: Fidelity Solo 401k Profit Sharing Contribution Question

I opened a solo 401k at Fidelity for my wife last year (she is self employed) and am about to make our first big contribution to it. I'm sure you meant to say " My wife opened a solo 401k at Fidelity for herself last year (she is self employed) and she is about to make her first big contributi...
by jimmyrules712
Mon Feb 22, 2016 1:01 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity Solo 401k Profit Sharing Contribution Question
Replies: 11
Views: 925

Re: Fidelity Solo 401k Profit Sharing Contribution Question

We seem to have a lot of people who are quick to make statements about solo 401ks without knowing much about them. As a sole proprietor, my wife can legally make the profit sharing EMPLOYER contribution up until April 15th the next year and she can also make EMPLOYEE contributions until April 15th t...
by jimmyrules712
Mon Feb 22, 2016 12:55 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Subsidy/Medicaid Questions
Replies: 6
Views: 879

Re: Health Insurance Subsidy/Medicaid Questions

Please work with a counselor, navigator, etc. that is trained in General Assistance to guide the state worker. For determining sel-employed income, schedule C, schedule F, or profit and loss statements are used, not bank statements. For Medicaid healthcare, income is used to determine eligibility. ...
by jimmyrules712
Sun Feb 21, 2016 1:34 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity Solo 401k Profit Sharing Contribution Question
Replies: 11
Views: 925

Fidelity Solo 401k Profit Sharing Contribution Question

I opened a solo 401k at Fidelity for my wife last year (she is self employed) and am about to make our first big contribution to it. Here is a screenshot of the contribution form: http://i.imgur.com/PH1Fb8b.jpg For a contribution submitted today, does the Employer Profit Sharing Contribution box app...
by jimmyrules712
Sun Feb 14, 2016 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Subsidy/Medicaid Questions
Replies: 6
Views: 879

Health Insurance Subsidy/Medicaid Questions

I'm trying to help my mother in law figure out what to do for health insurance. She lives in the state of Michigan. She's in her late fifties and only works part time. Makes about $3,000 per year doing that. She also owns a small farm and rents out the farmland for approximately $15,000 per year rev...
by jimmyrules712
Mon Feb 01, 2016 9:50 am
Forum: Investing - Help with Personal Investments
Topic: Please advise re. Roth vs Trad for my 2015 tax year
Replies: 14
Views: 1323

Re: Please advise re. Roth vs Trad for my 2015 tax year

There is a wiki on deciding which to use. https://www.bogleheads.org/wiki/Traditional_versus_Roth In a combined 30% tax bracket it would take a very compelling situation to make the Roth a better choice. I've read the wiki and I'm aware of all of the data points out there, I'm just having trouble f...
by jimmyrules712
Sun Jan 31, 2016 8:39 pm
Forum: Investing - Help with Personal Investments
Topic: Please advise re. Roth vs Trad for my 2015 tax year
Replies: 14
Views: 1323

Re: Please advise re. Roth vs Trad for my 2015 tax year

I didn't think you could make a contribution for a previous year in a 401k. Is it different for a Solo 401k? Yes it is, Solo 401k contributions can be made for the previous year until April 15th. OP, What is your marginal tax rate for 2015? If it is 15% or below, put the money into Roth IRA. Or els...
by jimmyrules712
Sun Jan 31, 2016 12:45 pm
Forum: Investing - Help with Personal Investments
Topic: Please advise re. Roth vs Trad for my 2015 tax year
Replies: 14
Views: 1323

Please advise re. Roth vs Trad for my 2015 tax year

My wife and I are in our late 20's in the 25% federal tax bracket (and 5.5% state) and since we've been focusing on paying off debt until recently this is the first year we've been in a position to invest beyond my 401k matching. My wife is self emplyoed and has a Fidelity self employed 401k so we'r...
by jimmyrules712
Wed Dec 16, 2015 2:39 pm
Forum: Personal Consumer Issues
Topic: Advice on Selling Engagement Ring
Replies: 73
Views: 6567

Re: Advice on Selling Engagement Ring

Honestly you are really fortunate if you can get $10k for it. Take the money and run.
by jimmyrules712
Thu Jul 30, 2015 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Auto collision with uninsured driver caused $5000 in damage. What to do?
Replies: 23
Views: 3198

Re: Auto collision with uninsured driver caused $5000 in damage. What to do?

For $5,000 I would definitely file a claim with his own insurance and pay the deductible. Otherwise what's the point in having collision coverage? It shouldn't impact his rates much since he wasn't at fault. His insurance company will pursue the other guy, likely will send a bill to collections. If ...
by jimmyrules712
Tue Jul 21, 2015 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Medical Bill Sent to Collections Instead of Insurance
Replies: 25
Views: 4520

Re: Medical Bill Sent to Collections Instead of Insurance

He was enrolled in Medicare, I know because I helped them do it. It was a bill from a radiologist, not the actual hospital. It's the radiologist that sent the bill to collections. The patient was getting treatment for cancer. I don't know the bill amount but I'm guessing it's not huge but I also kno...

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