Search found 268 matches

by miamivice
Thu Mar 23, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Pretirement
Replies: 18
Views: 1973

Re: Pretirement

By pretirment, I am a referring to a person partially exiting the workforce but not fully. They might pursue a lower paying job that brings more personal satisfaction, work fewer hours, or live in a locale that is more desirable but offers less wages. In other words, earn less money in the pursuit o...
by miamivice
Thu Mar 23, 2017 9:36 am
Forum: Personal Finance (Not Investing)
Topic: Pretirement
Replies: 18
Views: 1973

Pretirement

Has anyone done a pretirement prior to retirement? I am considering pretiring in maybe 5 years or so, but would like to hear others experiences.
by miamivice
Sun Mar 12, 2017 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Are you concerned that your bankers do not use 2 factor authenication?
Replies: 6
Views: 579

Are you concerned that your bankers do not use 2 factor authenication?

I recently popped in a bank branch here in Miami to do some transactions. Normally I do everything online but this item I had to do in person. While I was sitting at the bankers desk, he made a comment that he needed to change his password, and clicked away at his computer. I then realized that thei...
by miamivice
Thu Mar 02, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: What are my options for reducing risk?
Replies: 7
Views: 457

Re: What are my options for reducing risk?

I just took a look and see 5 year CDs are 2.17%. I'm not close enough to my goal that I can do the project if I only get 2.17% ROI over the next 5 years. I really need about 6% or higher ROI.

I guess I'm in a predicament and have some thinking to do.
by miamivice
Thu Mar 02, 2017 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: What are my options for reducing risk?
Replies: 7
Views: 457

What are my options for reducing risk?

What are my options for reducing risk while still maintaining reasonable ROI?
by miamivice
Thu Feb 16, 2017 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Do we need an agent to buy a home?
Replies: 18
Views: 1287

Re: Do we need an agent to buy a home?

I believe that if you are buying a MLS-listed house, you need someone to fill the role of the buyer's agent. If you do not have one of your own, the seller's agent will become a dual agent and keep all of the commission.
by miamivice
Thu Jan 26, 2017 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford to stop working overtime?
Replies: 56
Views: 4545

Re: Can I afford to stop working overtime?

Thank you all.

My question has been answered, I'd greatly appreciate it if we can let this thread die at this point. I appreciate the candid responses and your comments. Now that this thread has run it's course and my questions have been answered, let's let it die. Thank you.
by miamivice
Wed Jan 25, 2017 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to stop working overtime?
Replies: 56
Views: 4545

Re: Can I afford to stop working overtime?

Thank you all. I know exactly what I need to do. My time is needed at home and that is exactly where I will be.
by miamivice
Wed Jan 25, 2017 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to stop working overtime?
Replies: 56
Views: 4545

Re: Can I afford to stop working overtime?

OP, think long and hard about needs vs. wants. $9000 is a LOT of money to be spending. I live in a HCOL area (Long Island, NY) and spend ~$3.5k/month for two adults living a nice middle class lifestyle. ? Are you include housing payment + property taxes + insurance + utilities in your $3.5k/month s...
by miamivice
Tue Jan 24, 2017 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to stop working overtime?
Replies: 56
Views: 4545

Re: Can I afford to stop working overtime?

OK, some more information - the bonus is about $10k/year. Not a huge part of my salary. - No state income tax in Florida. - I'm confused about the questions about whether I'll be able to max my 401k without the overtime. I've never maxed out my 401k in my life. Wife and I each have $18k a year in 40...
by miamivice
Tue Jan 24, 2017 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to stop working overtime?
Replies: 56
Views: 4545

Re: Can I afford to stop working overtime?

Elbowman wrote:It depends if you are 40 or 70, right? What will your income requirements be in retirement, and how long does that $1,050,000 have to grow before you start withdrawing?


Wife and I are age 37. Forgot to include that bit of information in the first post.
by miamivice
Tue Jan 24, 2017 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to stop working overtime?
Replies: 56
Views: 4545

Re: Can I afford to stop working overtime?

pennstater2005 wrote:If things aren't going well at home my primary thought would be the kids come first. Retirement savings would be a secondary thought for me. I would work more years if I had to to sacrifice for my kids.


+1
by miamivice
Tue Jan 24, 2017 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to stop working overtime?
Replies: 56
Views: 4545

Can I afford to stop working overtime?

Serious question. Things aren't going well for me at home. Let me simply say that, use your imagine to figure out the rest of the story. I think the kids need me around at home a lot more often. I have expenses ~$9000 a month. Will try to cut back but probably can't cut back more than $1000 per mont...
by miamivice
Mon Jan 23, 2017 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to find a <good> accountant?
Replies: 20
Views: 2177

Re: Best way to find a <good> accountant?

So you have bad experiences with 2 cpas and Turbotax? And 2 time you have reviewed the returns, found errors, and had to amend? Yet you don't want to do taxes yourself?
by miamivice
Mon Jan 23, 2017 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Is this cheating on income tax?
Replies: 21
Views: 3736

Re: Is this cheating on income tax?

Box 14 wages are taxable. ................................ Do you have a reference link for that? The instructions for the W2 suggest that the employer can use this for informational purposes for the employee but nothing about the tax significance is there. My bad. Continuing education that I have ...
by miamivice
Mon Jan 23, 2017 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: Is this cheating on income tax?
Replies: 21
Views: 3736

Re: Is this cheating on income tax?

Box 14 wages are taxable. What you want to do, is if your tuition qualifies as tax free, is to have your employer reclassify it and then have them provide you with a corrected W-2. Box 14 should be blank. The fact that they put numbers in Box 14 indicates that they have you classified in a program w...
by miamivice
Sun Jan 22, 2017 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for advice on getting credit cards for my kids
Replies: 22
Views: 1153

Re: Looking for advice on getting credit cards for my kids

I appreciate the thoughts. To me, the pros outway the cons. And, fortunately, my children are responsible and continue to earn more trust through their positive choices. To me, not teaching children how to manage credit at an early age, might be ignoring the world in which we live. Not all credit i...
by miamivice
Sun Jan 22, 2017 7:03 pm
Forum: Personal Finance (Not Investing)
Topic: Looking for advice on getting credit cards for my kids
Replies: 22
Views: 1153

Re: Looking for advice on getting credit cards for my kids

I'm 37 but don't know what managing credit means?
by miamivice
Sat Jan 21, 2017 8:27 pm
Forum: Investing - Help with Personal Investments
Topic: 529 for new family members
Replies: 4
Views: 486

Re: 529 for new family members

Hi, I have committed to funding my nephews and niece (14-21 years old) with a $2,000.00 initial donation to a Roth IRA when they make their first earnings. Recently, I was surprised to discover that my brother and his wife (not the mother of his other children) were having twins. They were born a f...
by miamivice
Sat Jan 21, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: When/If a degree is useful for software developers?
Replies: 45
Views: 3015

Re: When/If a degree is useful for software developers?

My husband is 44 and has been working in IT, software development his entire career. He went to college for mechanical engineering and wasn't a great student and left without a degree. We moved to a rural area two years ago, and he continued to work remotely for his previous employer until the comp...
by miamivice
Sat Jan 21, 2017 12:37 pm
Forum: Investing - Help with Personal Investments
Topic: 529 plan versus supplemental retirement
Replies: 24
Views: 1294

Re: 529 plan versus supplemental retirement

I'm not completely sure I understand. Are you suggesting essentially to 'pay as you go?' If so, then the problem is that we'll have three kids in college simultaneously - at least for one year, and the twins will likely be in school at the same time throughout.. We could cover costs for one using a...
by miamivice
Sat Jan 21, 2017 12:36 pm
Forum: Investing - Help with Personal Investments
Topic: 529 plan versus supplemental retirement
Replies: 24
Views: 1294

Re: 529 plan versus supplemental retirement

Overall, I see little benefits for the 529 except for the state tax deduction. I'd probably put max out the state tax deduction each year to save on taxes and put it into a stable value fund. Most states I"ve read that is like $5000 or something. Pretty small risk and then the OP would feel go...
by miamivice
Sat Jan 21, 2017 9:10 am
Forum: Investing - Help with Personal Investments
Topic: 529 plan versus supplemental retirement
Replies: 24
Views: 1294

Re: 529 plan versus supplemental retirement

I disagree with KlangFool. He simply doesn't like the 529, regardless of how much or how little a person has for retirement. He prefers to pay from taxable account. While that's fine and dandy for KlangFool, it doesn't make sense to save up for children's college in a taxable if you are confident yo...
by miamivice
Fri Jan 20, 2017 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Best way for under 25 to rent a car
Replies: 17
Views: 1302

Re: Best way for under 25 to rent a car

I used Enterprise in college. They rented under 25. Don't know today.
by miamivice
Fri Jan 20, 2017 4:15 pm
Forum: Investing - Help with Personal Investments
Topic: 529 plan versus supplemental retirement
Replies: 24
Views: 1294

Re: 529 plan versus supplemental retirement

I am pro-529, but in your case, I would take a careful look at your retirement situation and see if you feel comfortable with the amount that you have saved for retirement. From my perspective, you're way behind. I would suggest running some scenarios and see how much you expect to have in retiremen...
by miamivice
Sun Jan 15, 2017 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Out of town mechanic botched fix
Replies: 19
Views: 1728

Re: Out of town mechanic botched fix

I don't have any specific advice as to the mechanic, but I will say using a remanufactured alternator is common practice and isn't shady at all (unless they charged you for a new part). Unless you were charged for a new part I wouldn't hold using a reman alternator against the shop. I can't tell fr...
by miamivice
Sun Jan 15, 2017 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Out of town mechanic botched fix
Replies: 19
Views: 1728

Re: Out of town mechanic botched fix

They can file a mechanics lien and potentially reposes your car.
by miamivice
Sun Jan 15, 2017 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: Out of town mechanic botched fix
Replies: 19
Views: 1728

Re: Out of town mechanic botched fix

I'm from Southern California and was in the San Francisco area when my 2006 Honda Civic wouldn't start. I brought it in to a local mechanic up there and they told me the alternator died. They replaced said alternator with another used alternator. Diagnostic, service, and part charges totaled to $57...
by miamivice
Sun Jan 15, 2017 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard on finding a dead person's password
Replies: 86
Views: 7329

Re: Vanguard on finding a dead person's password

To answer the direct question posed by the OP, I think that being able to login into a deceased person's account would make things much simpler. Not to conduct transactions, but to know which stocks, which accounts, and the overall financial picture of the deceased. The problem (I am speaking broadl...
by miamivice
Thu Jan 12, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value: report through own or other party's insurance?
Replies: 13
Views: 1170

Re: Diminished Value: report through own or other party's insurance?

Sure. Ask for 1/2 of the value of the repairs from the other party's insurance company. There really is no hard and fast way to calculate diminished value. The insurance company won't send out someone to inspect your car. Easiest way is to ask them to pay 1/2 of the value of the repairs as diminish...
by miamivice
Wed Jan 11, 2017 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Diminished Value: report through own or other party's insurance?
Replies: 13
Views: 1170

Re: Diminished Value: report through own or other party's insurance?

The insurance company paying the diminished value has to assess the quality of the repairs in order to decide on the diminished value amount. If one wants to cash the repair damage check instead of using it to repair the car, is there any way to still get the diminished value claim? Sure. Ask for 1...
by miamivice
Fri Jan 06, 2017 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: Auto Insurance Settlement Advice
Replies: 19
Views: 1235

Re: Auto Insurance Settlement Advice

Another element--besides the obvious--was the effort put into finding a replacement vehicle. Granted, PAYING for the replacement was handled. But they didn't go out and find the right vehicle for us. Mind you, the vehicle isn't anything particularly special. The vehicle we lost in the accident was ...
by miamivice
Fri Jan 06, 2017 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 5816

Re: What monetary value has your education provided you?

tacster wrote:Mine works out to around 100x or thereabouts. Engineering degree.


Defintely worth it!
by miamivice
Fri Jan 06, 2017 6:37 pm
Forum: Personal Finance (Not Investing)
Topic: How many $ to self fund long term care?
Replies: 73
Views: 5247

Re: How many $ to self fund long term care?

I think about $2.5 million in assets would fund 1 persons LTC needs for as long as necessary. $5 million in assets would fund 2 peoples LTC needs for as long as necessary. I think the gripe about the cost of LTC care has to do with it being one big check and for a not very fun cause. I don't see it ...
by miamivice
Fri Jan 06, 2017 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Investing in a Masters and Ph.D?
Replies: 101
Views: 5348

Re: Investing in a Masters and Ph.D?

I would love to get a PhD. But the lost opportunity cost of being out of the workforce for 5 years is too great to justify the degree. I consider myself smart because I know that.
by miamivice
Fri Jan 06, 2017 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: What monetary value has your education provided you?
Replies: 107
Views: 5816

What monetary value has your education provided you?

Often, we read articles (at least headlines) about "is a college education worth it?". The articles imply that the lost opportunity cost from being out of the workforce + the cost of college > return on investment from having a degree. Out of curiosity, I looked up my lifetime earnings tha...
by miamivice
Wed Dec 28, 2016 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Are there any benefits to achieving "great wealth"?
Replies: 106
Views: 8615

Are there any benefits to achieving "great wealth"?

OK Bogleheads, I have achieved what I consider "great wealth". I am not Donald Trump wealthy, nor CEO wealthy, nor San Francisco wealthy. But for a person who doesn't fit the previously listed criteria, I have achieved "great wealth". I'm in the 99th percentile by age, according ...
by miamivice
Tue Dec 27, 2016 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Hit salary cap. Receiving lump sum in lieu of raise
Replies: 51
Views: 5474

Re: Hit salary cap. Receiving lump sum in lieu of raise

So apparently at my company. Apparently each position has a maximum salary and once salary hits the magical peak number, we get lump sum increases in lieu of raises. I'm a little grumpy because apparently I am the only one in my group to be affected, everyone else apparently is still getting a rais...
by miamivice
Mon Dec 26, 2016 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Hit salary cap. Receiving lump sum in lieu of raise
Replies: 51
Views: 5474

Hit salary cap. Receiving lump sum in lieu of raise

So apparently at my company. Apparently each position has a maximum salary and once salary hits the magical peak number, we get lump sum increases in lieu of raises. I'm a little grumpy because apparently I am the only one in my group to be affected, everyone else apparently is still getting a raise...
by miamivice
Fri Dec 23, 2016 7:31 pm
Forum: Personal Consumer Issues
Topic: Selling a car as an executor for an estate
Replies: 29
Views: 2090

Re: Selling a car as an executor for an estate

This isn't a financial response, but here goes: If I was the executor of an estate, and I felt that owning a car brought even a tiny bit of enjoyment or happiness to the owner, I would go to great lengths to help the owner keep the car until passing. I would want the owner to be as happy as possible...
by miamivice
Fri Dec 23, 2016 7:16 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance for low value personal property
Replies: 11
Views: 848

Insurance for low value personal property

I recently had a random event cause damage to an item that I own, worth $500. If I had a low enough deductible, I probably could have turned it into my homeowners insurance, but my deductible is above $1000 so I couldn't do that. Even if I had a low deductible, from what I have read it is unadvisabl...
by miamivice
Thu Dec 22, 2016 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Can I volunteer while on short term disability?
Replies: 27
Views: 1442

Re: Can I volunteer while on short term disability?

There are two problems with this: 1) It is insurance fraud to claim you have a disability and unable to work when you actually are able to work, at least on a modified schedule (subject to the terms of the STD policy). 2) While often ignored, it's illegal to volunteer for a for-profit corporation. F...
by miamivice
Wed Dec 21, 2016 5:02 pm
Forum: Personal Finance (Not Investing)
Topic: What kind of person buys a franchise?
Replies: 49
Views: 5592

Re: What kind of person buys a franchise?

This is my Boglehead answer. I haven't thought much about owning a franchise but the posts above got me thinking. The question to me is - what would I be able to do to make a franchise run more effectively than other franchises? Both those that sell the same product (other franchise owners) and thos...
by miamivice
Wed Dec 21, 2016 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Raising money for a family in need - How To Question (tax related)
Replies: 19
Views: 1554

Re: Raising money for a family in need - How To Question (tax related)

Comment about "potential loss of other financial benefits". A family with a 6 digit trust fund in their name should not be receiving public assistance due to "neediness". A person with a six digit trust fund is not "needy" by any stretch of the imagination. I certainly...
by miamivice
Wed Dec 21, 2016 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Raising money for a family in need - How To Question (tax related)
Replies: 19
Views: 1554

Re: Raising money for a family in need - How To Question (tax related)

I don't get a good feeling about what the OP is thinking about. Essentially, the OP is putting himself in the position of being the "owner" of the family because he is the controller of a large sum of assets that he doles out to the needy family at his discretion. I don't like that at all...
by miamivice
Wed Dec 21, 2016 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Raising money for a family in need - How To Question (tax related)
Replies: 19
Views: 1554

Re: Raising money for a family in need - How To Question (tax related)

The more I think about this the more sticky it becomes. I see the potential for lawsuits (or threats of lawsuits). Money is given to the needy family, but is intercepted by a third party who refuses to give it to the family for a number of years. Bad, bad situation. "Delaying" disbursemen...
by miamivice
Wed Dec 21, 2016 9:53 am
Forum: Personal Finance (Not Investing)
Topic: What kind of person buys a franchise?
Replies: 49
Views: 5592

Re: What kind of person buys a franchise?

It would seem to me that one would do better being a stock picker and picking the next great up and coming restaurant than by trying to own a franchise.
by miamivice
Wed Dec 21, 2016 9:52 am
Forum: Personal Finance (Not Investing)
Topic: What kind of person buys a franchise?
Replies: 49
Views: 5592

Re: What kind of person buys a franchise?

I've only known one guy. He was a Dad for a kid on my son's soccer team. He went to the local state school, working at Domino's as a grunt and eventually managing it. The owner saw he was dedicated and smart got him to manage several other of the other outlets. Eventually bought one of his own (aft...
by miamivice
Tue Dec 20, 2016 4:43 pm
Forum: Personal Consumer Issues
Topic: Grocery cart rolls into side of car, dent, scratched
Replies: 92
Views: 6887

Re: Grccery cart rolls into side of car, dent, scratched

From a liability standpoint, I think the grocer is wrong. Say the grocery cart did far worse damage, like suppose it killed someone. (Not sure HOW that could have happened but let's say it did.) And let's say the cart was abandonded my a mentally-ill transiet. Would that transient be responsible for...
by miamivice
Tue Dec 20, 2016 3:22 pm
Forum: Investing - Help with Personal Investments
Topic: How To? - 529 vs Taxable Analysis
Replies: 22
Views: 1131

Re: How To? - 529 vs Taxable Analysis

I think the biggest point I would share is that 529 plans don't really "lock up your money" per se. You can take out the basis contributions without penalty if you needed access. No, you can't. It's only the Roth IRA that lets you do that. When you pull out money from a 529, you pull out ...

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