Search found 241 matches

by matonplayer
Thu Mar 02, 2017 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and cons of a mortgage
Replies: 10
Views: 1090

Re: Pros and cons of a mortgage

Thanks for the responses. To answer one of them, my plan would be to sell 1.3M in assets. Most would be from bond funds so cap gains are at a minimum and I have some losses rolled over from previous years to offset the gains.
by matonplayer
Thu Mar 02, 2017 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and cons of a mortgage
Replies: 10
Views: 1090

Re: Pros and cons of a mortgage

Carefreeapp, I don't see needing to spend any more than $50K or so for improvements. Thanks for the HELOC idea, though. Will probably open one.
by matonplayer
Thu Mar 02, 2017 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and cons of a mortgage
Replies: 10
Views: 1090

Re: Pros and cons of a mortgage

Bigred, thanks. Most of our savings are in taxable so no need to raid tax-deferred accounts. Our expenses last year were around $12K/month and DW has a $44K pension so I agree that we can afford it. It's just been a challenge transitioning from saving to spending. :)
by matonplayer
Thu Mar 02, 2017 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Pros and cons of a mortgage
Replies: 10
Views: 1090

Pros and cons of a mortgage

My DW and I are recently retired, ages 58 and 56. Our investment portfolio is approximately $7M. We own our home free and clear which is valued at around $800K. We're currently looking at a house in the $1.3M range. In trying to decide if there is any advantage to financing the difference as opposed...
by matonplayer
Sat Jan 07, 2017 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited IRA question
Replies: 2
Views: 395

Inherited IRA question

My mom recently passed away. She owned a CD in an IRA account worth around $6K. My two brothers and I are the beneficiaries. My oldest brother believes that the contributions to the IRA were after tax, but we can't find any evidence that a Form 8606 was ever filed. Am I correct in assuming that our ...
by matonplayer
Mon Jan 02, 2017 8:51 pm
Forum: Investing - Theory, News & General
Topic: Whats your number to walk away?
Replies: 245
Views: 28560

Re: Whats your number to walk away?

Sold my biz in 2012 at age 52 and walked away. $6.5M including what we had saved prior to 2012.
by matonplayer
Mon Jan 02, 2017 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Help with S Corp nuts and bolts
Replies: 13
Views: 958

Re: Help with S Corp nuts and bolts

I would advise not doing payroll yourself. I tried it with a three person company and it was a nightmare trying to do it without screwing up. As far as distributions go, our board of directors (my wife and I) would meet annually and determine an annual distribution which was then documented in our a...
by matonplayer
Thu Dec 29, 2016 1:13 pm
Forum: Investing - Help with Personal Investments
Topic: Looking for AA recommendations
Replies: 1
Views: 176

Looking for AA recommendations

Our current situation is: I'm 56, spouse is 58. Both recently retired. Spouse gets a $44K annual pension until age 62, then pension drops to $26K. No debts. Current plan is for spouse to take SS at 62 and I defer until 70. Approximately 6.7M in investments (all low cost index funds and ETFs), of whi...
by matonplayer
Mon Dec 05, 2016 9:35 am
Forum: Personal Consumer Issues
Topic: Relocation to Asheville, NC
Replies: 14
Views: 1880

Re: Relocation to Asheville, NC

We live in a golf community (Champion Hills) in Hendersonville, NC, about 30 minutes south of Asheville. We retired here in 2014 from the DC area. We love it. As frequent live music and arts patrons, the music and arts venues between Asheville and Greenville SC are incredible. We just saw An America...
by matonplayer
Mon Nov 07, 2016 5:00 pm
Forum: Personal Consumer Issues
Topic: Which state to move for milder weather
Replies: 118
Views: 13106

Re: Which state to move for milder weather

We did research on weather in the US before retiring from the DC area two years ago. One meteorologist said that if you eliminate CA from the equation (which clearly has the best weather in the US) then the Asheville NC area has the most temperate weather in the country. We live about thirty minutes...
by matonplayer
Sat Sep 17, 2016 6:25 pm
Forum: Personal Consumer Issues
Topic: Recommendations for External Hard Drive
Replies: 50
Views: 4319

Re: Recommendations for External Hard Drive

My 3TB WD MyCloud external hard drive failed after six months. Fortunately I had everything backed up to another external drive. Not terribly impressed.
by matonplayer
Mon Sep 12, 2016 8:13 am
Forum: Personal Consumer Issues
Topic: Recommended Acoustic Guitars Under $1,000
Replies: 19
Views: 1670

Re: Recommended Acoustic Guitars Under $1,000

Why the solid wood requirement? Taylor makes some nice guitars with solid wood tops and laminate back and sides under $1000. I would much rather have a well made laminate guitar than a cheaply made solid wood guitar.
by matonplayer
Fri Jul 22, 2016 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirees, how much did you leave on the table?
Replies: 202
Views: 16624

Re: Early retirees, how much did you leave on the table?

We recently retired at mid 50s. If we had worked another ten years our portfolio would probably be 20 percent larger than it will be. But we have more than enough.
by matonplayer
Wed Jul 06, 2016 8:52 pm
Forum: Personal Consumer Issues
Topic: Advice- relocating back to DC metro area from Charlotte, nc
Replies: 4
Views: 448

Re: Advice- relocating back to DC metro area from Charlotte, nc

We moved eighteen months ago from the DC area to retire near Asheville. You couldn't pay me enough to move back there. But I can't comment on life in Charlotte.
by matonplayer
Mon Jul 04, 2016 4:48 pm
Forum: Personal Consumer Issues
Topic: How to negotiate result of big item home inspection
Replies: 54
Views: 3708

Re: How to negotiate result of big item home inspection

I'd politely ask for 10K off the price and see if the owner counters. If I really liked the house 10K for new appliances wouldn't keep me from buying it.
by matonplayer
Wed Apr 27, 2016 2:05 pm
Forum: Personal Consumer Issues
Topic: Should I accept this offer on my house?
Replies: 52
Views: 4194

Re: Should I accept this offer on my house?

What will it cost you in taxes, insurance, and maintenance if it took another eight months to sell?
by matonplayer
Mon Apr 25, 2016 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Should I Sign This Non-Solicitation Agreement Can This Backfire on Me
Replies: 24
Views: 2467

Re: Should I Sign This Non-Solicitation Agreement Can This Backfire on Me

Concur with most of the opinions. Non-competes are very state-specific. That said, I think #1 would likely be unenforceable due to the lack of a time provision. It shouldn't cost more than a couple of hundred bucks to get a lawyer to review.

#2 is pretty standard.
by matonplayer
Thu Apr 07, 2016 2:24 pm
Forum: Personal Consumer Issues
Topic: Paying for kid's graduate school?
Replies: 49
Views: 4291

Re: Paying for kid's graduate school?

OP here. We decided to pay for one year of his Master's and he is responsible for the other. It wasn't an easy decision but I think it was the right one for us. Thanks for all the input.
by matonplayer
Tue Apr 05, 2016 10:01 pm
Forum: Personal Consumer Issues
Topic: Paying for kid's graduate school?
Replies: 49
Views: 4291

Re: Paying for kid's graduate school?

A big question is if you can afford to retire today or not. If not then you may not be to the point where you can really afford this yet. If things go well then you could help him pay off his student loans later when your finances are all set for you to retire. I don't know many of the details but ...
by matonplayer
Tue Apr 05, 2016 7:05 pm
Forum: Personal Consumer Issues
Topic: Paying for kid's graduate school?
Replies: 49
Views: 4291

Re: Paying for kid's graduate school?

OP here. Thanks for all the feedback. My instinct was to help him out and I'm glad others would do the same.
by matonplayer
Tue Apr 05, 2016 5:12 pm
Forum: Personal Consumer Issues
Topic: Paying for kid's graduate school?
Replies: 49
Views: 4291

Re: Paying for kid's graduate school?

He's told me that schools are begging for doctoral assistanship candidates in his field. He'll go to wherever he can get a free ride.
by matonplayer
Tue Apr 05, 2016 5:03 pm
Forum: Personal Consumer Issues
Topic: Paying for kid's graduate school?
Replies: 49
Views: 4291

Paying for kid's graduate school?

Moderators, if this issue is off topic I understand. My son has recently graduated with a degree in music composition. His goal is to earn his doctorate and teach at the college level. He's been accepted to two graduate schools - one is a state school with a decent music program, the other is one of...
by matonplayer
Sat Mar 19, 2016 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirees - What triggered you to retire?
Replies: 97
Views: 12610

Re: Early Retirees - What triggered you to retire?

Retired at 52 after selling a small business. My dad died at 65 after having less than a year of retirement. Life is too short.
by matonplayer
Fri Mar 18, 2016 8:45 am
Forum: Investing - Help with Personal Investments
Topic: 28 year old, $6mm, how to retire?
Replies: 71
Views: 15056

Re: 28 year old, $6mm, how to retire?

It depends on the individual. If 80% equity is too aggressive and the persons may capitulate in a bear market, then more in bonds makes sense. If it doesn't matter, then more bonds now and less in stocks means less cash flow down the road. Dividends increase over time. Interest stays the same (roug...
by matonplayer
Mon Mar 14, 2016 5:31 pm
Forum: Investing - Theory, News & General
Topic: SPIAs and safe withdrawal rates
Replies: 18
Views: 2402

Re: SPIAs and safe withdrawal rates

Thanks for all of the replies. I guess my idea wasn't so great after all. :)
by matonplayer
Sun Mar 13, 2016 6:56 pm
Forum: Investing - Theory, News & General
Topic: SPIAs and safe withdrawal rates
Replies: 18
Views: 2402

Re: SPIAs and safe withdrawal rates

Good point about the inflation perspective.

In my case there was no negligible difference in the payout rate between a vanilla SPIA and the 20 year certain one.
by matonplayer
Sun Mar 13, 2016 6:47 pm
Forum: Investing - Theory, News & General
Topic: SPIAs and safe withdrawal rates
Replies: 18
Views: 2402

SPIAs and safe withdrawal rates

I had an idea this week regarding safe withdrawal rates and wanted some input. Would it be possible to calculate a safe withdrawal rate based on current SPIA rates? In other words, could one somehow calculate the value of the mortality credits and subtract it from the SPIA payout rate? In my case, I...
by matonplayer
Mon Mar 07, 2016 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Roommate issue
Replies: 18
Views: 2969

Re: Roommate issue

I think the only circumstance where he would consider suing is if they move out and he has to pay the entire rent payment. Hopefully they can all work something out.
by matonplayer
Mon Mar 07, 2016 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Income tax preparation cost?
Replies: 22
Views: 1932

Re: Income tax preparation cost?

I contacted them and they agreed to knock 15% off of the bill. Lesson learned. I should be able to use TurboTax for the foreseeable future though.
by matonplayer
Mon Mar 07, 2016 5:07 am
Forum: Personal Finance (Not Investing)
Topic: Roommate issue
Replies: 18
Views: 2969

Re: Roommate issue

Thanks for all the replies. My son is 24 and his roommates are of similar age. According to him, his roommates are "neat freaks" - his term - and had issues with his leaving dirty dishes in the sink. I asked him if they had mentioned their concerns before and he said only in an indirect ma...
by matonplayer
Sun Mar 06, 2016 9:37 pm
Forum: Personal Finance (Not Investing)
Topic: Roommate issue
Replies: 18
Views: 2969

Re: Roommate issue

I'm sure it's uncomfortable to be in a nasty environment. Is the landlord willing to release him from the lease? If yes, I would take my security deposit and leave as soon as I found something else. He's going to talk to the landlord tomorrow. He'd actually prefer to stay thru the end of the lease ...
by matonplayer
Sun Mar 06, 2016 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Roommate issue
Replies: 18
Views: 2969

Roommate issue

My adult son lives in MD and shares a house with two other roommates. Their lease contains the typical "jointly and severally liable" clause. Their lease expires July 31. According to my son (of course, I'm only hearing one side of the story) his two roommates have decided they don't want ...
by matonplayer
Sun Mar 06, 2016 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Income tax preparation cost?
Replies: 22
Views: 1932

Re: Income tax preparation cost?

Could you provide more detail on how involved your return is? Hard to say if that's alot or not. My firm has an average bill rate between $200-$250 so it does take much to get to a $2,750 bill. Especially when clients dump off a box of receipts. I can try. We had one W-2, a 1099 from my wife's pens...
by matonplayer
Sun Mar 06, 2016 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Income tax preparation cost?
Replies: 22
Views: 1932

Re: Income tax preparation cost?

With that amount, consider itemizing it for 2016, that may get you to the 2% AGI level for all miscellaneous deductions to be deductible if nothing else. I would never have this done without an agreed price upfront. That was my mistake, for sure. When I owned an LLC my returns were a bit more compl...
by matonplayer
Sun Mar 06, 2016 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Income tax preparation cost?
Replies: 22
Views: 1932

Re: Income tax preparation cost?

Last month I asked my former accounting service (I used to own a small business) to prepare my income taxes for me since I had an issue with the net investment income tax - TurboTax didn't seem to be able to handle it so I thought I would get professional help. Other than this one issue (which my a...
by matonplayer
Sun Mar 06, 2016 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Income tax preparation cost?
Replies: 22
Views: 1932

Income tax preparation cost?

Last month I asked my former accounting service (I used to own a small business) to prepare my income taxes for me since I had an issue with the net investment income tax - TurboTax didn't seem to be able to handle it so I thought I would get professional help. Other than this one issue (which my ac...
by matonplayer
Tue Mar 01, 2016 5:53 pm
Forum: Personal Consumer Issues
Topic: Mac laptop vs. Windows 7 (or 10) laptop
Replies: 63
Views: 5283

Re: Mac laptop vs. Windows 7 (or 10) laptop

Used Lenovo laptop and then install Ubuntu. :)
by matonplayer
Wed Feb 03, 2016 4:04 am
Forum: Personal Finance (Not Investing)
Topic: What age did you retire
Replies: 84
Views: 8275

Re: What age did you retire

52. Best thing I ever did.
by matonplayer
Sat Jan 30, 2016 2:16 pm
Forum: Personal Consumer Issues
Topic: Unwinding day old terrible car deal for mother-in-law
Replies: 186
Views: 19613

Re: Unwinding day old terrible car deal for mother-in-law

A quick Google search indicates that there is no grace period for auto purchases in GA. But a lawyer could look at the contract and possibly find some loophole to get your MIL out of it. Probably worth a call to a lawyer.
by matonplayer
Thu Jan 28, 2016 12:30 pm
Forum: Investing - Help with Personal Investments
Topic: Retired & Estimated tax payments ???
Replies: 27
Views: 1774

Re: Retired & Estimated tax payments ???

We just increased the withholding on DW's modest pension to cover tax owed on dividends and interest income so I don't have to pay quarterly. The end result is that nearly her entire pension is withheld. :)
by matonplayer
Fri Jan 08, 2016 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo tax and net investment income tax (Medicare tax)
Replies: 8
Views: 547

Re: Turbo tax and net investment income tax (Medicare tax)

Livesoft, I don't know what the company will issue me - the company that bought my business was subsequently sold, so this will be a first time for the parent company. They -should- issue me a 1099-DIV, since the earnout should be paid as a long term capital gain. The trick is avoiding the 3.8% Medi...
by matonplayer
Fri Jan 08, 2016 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo tax and net investment income tax (Medicare tax)
Replies: 8
Views: 547

Re: Turbo tax and net investment income tax (Medicare tax)

There were earnout provisions as part of the sale that were based on company revenue. The 2015 earnout definitely puts us over the threshold.
by matonplayer
Fri Jan 08, 2016 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo tax and net investment income tax (Medicare tax)
Replies: 8
Views: 547

Re: Turbo tax and net investment income tax (Medicare tax)

I didn't receive any proceeds in 2014 (long story) but I did in 2013. It was treated as a long term capital gain since the sale of the business was executed as a 100% stock sale.
by matonplayer
Fri Jan 08, 2016 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Turbo tax and net investment income tax (Medicare tax)
Replies: 8
Views: 547

Turbo tax and net investment income tax (Medicare tax)

In 2015 I received the final payment from the 2012 sale of my S-Corp business. When I closed on the sale in 2012 my tax accountant told me that any subsequent sale proceeds would not be subject to the 3.8% net investment income tax since I was a material participant in the business. My question is: ...
by matonplayer
Sun Dec 27, 2015 10:05 am
Forum: Personal Consumer Issues
Topic: Viking gas range - repair or replace?
Replies: 14
Views: 1650

Re: Viking gas range - repair or replace?

Thanks for all of the suggestions. I can fix a lot of things around the house but it helps if I have good directions. :).
by matonplayer
Sat Dec 26, 2015 3:33 pm
Forum: Personal Consumer Issues
Topic: Viking gas range - repair or replace?
Replies: 14
Views: 1650

Re: Viking gas range - repair or replace?

Lafder, my bad. Was going to replace with an LG for $800. Not another Viking. :)
by matonplayer
Sat Dec 26, 2015 2:19 pm
Forum: Personal Consumer Issues
Topic: Viking gas range - repair or replace?
Replies: 14
Views: 1650

Re: Viking gas range - repair or replace?

If it were up to me I'd light the fool thing by hand bit not sure DW would go for it. :). I hadn't thought about the resale issue. Something to consider for sure. My guess is we'll be in the house for several years but it won't be our last one.
by matonplayer
Sat Dec 26, 2015 1:54 pm
Forum: Personal Consumer Issues
Topic: Viking gas range - repair or replace?
Replies: 14
Views: 1650

Viking gas range - repair or replace?

Our Viking gas range is approximately ten years old - not positive exactly how old since we bought this house last year. Anyway, I discovered yesterday that the two burners in the left won't spark when you turn on the gas - normally, all burners spark regardless of which burner you've turned on. Int...

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