Search found 135 matches

by mnnice
Tue Dec 06, 2016 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Employer behind on pay; how much liquid EF is reasonable?
Replies: 31
Views: 1214

Re: Employer behind on pay; how much liquid EF is reasonable?

I would continue to hoard cash and start looking for another position for DH.

OP do you have paid employment?
by mnnice
Tue Nov 29, 2016 11:12 am
Forum: Personal Finance (Not Investing)
Topic: Best way to help sister?
Replies: 71
Views: 5919

Re: Best way to help sister?

Just to be clear, at $11 per hour this family of two has income of roughly $22K which is far below 200% of the poverty level which is $15,930. Medicaid eligibility is set at 138% of FPL or $21,984 in this case. It may be advantageous in the OP's sister's case to attempt to remain Medicaid eligible ...
by mnnice
Tue Nov 29, 2016 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Best way to help sister?
Replies: 71
Views: 5919

Re: Best way to help sister?

OP, Since your sister's job does provide a regular source of income and apparently she has not been paying rent, does she know where her paycheck goes (budgetwise)? You could "help" her by going over her spending and see if there are any frivolous expenses (smoking, liquor, drugs, lottery,...
by mnnice
Sun Nov 20, 2016 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Monthly grocery costs? How do you keep it low?
Replies: 155
Views: 14624

Re: Monthly grocery costs? How do you keep it low?

Double coupons. I save $30-$50 off every grocery bill & come home with free items every week. The key is to shop at a grocery store that doubles coupons, and use coupons on sale items to save even more. I shop at Shoprite and Stop and Shop, and brand name shampoo, body wash, toothpaste are ofte...
by mnnice
Wed Nov 16, 2016 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: 50% Increase in my Long Term Care Policy
Replies: 23
Views: 2603

Re: 50% Increase in my Long Term Care Policy

I was going to start a thread and then saw this one. MY LTCI policy is with Unum. To maintain it as they want to increase the premium 66% to $1600/yr. The policy has a 5% inflation adjustment. As options they offer lower yearly rates but reducing the inflation adjustment to 4.5% or keeping my curre...
by mnnice
Wed Nov 16, 2016 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Early retire considering Self-Insurance for healthcare
Replies: 83
Views: 5942

Re: Early retire considering Self-Insurance for healthcare

Why not move to Costa Rica part of the year and become a citizen? They have a better health care system anyway. Much more beautiful and lower crime too. Are there any countries with good healthcare services where we can obtain healthcare services on a cash basis, without insurance, if we are a lega...
by mnnice
Tue Nov 15, 2016 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Early retire considering Self-Insurance for healthcare
Replies: 83
Views: 5942

Re: Early retire considering Self-Insurance for healthcare

You could live abroad and spend 330 days not in the US. You probably still want to buy travel health insurance.

You could go back to work. Then you could get COBRA.

You may or may not be able to engineer your income into the subside range.
by mnnice
Mon Nov 14, 2016 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Stay at home parent vs. Daycare (personal question)
Replies: 19
Views: 2165

Re: Stay at home parent vs. Daycare (personal question)

It looks to me like you both work for pay for a similar number of hours in given any year. You just work different shifts.

I personally think I would be less stressed working hours that sync with the rest of my family better even if it added the expense of child care.
by mnnice
Tue Nov 08, 2016 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Great 403b for teachers?
Replies: 60
Views: 6786

Re: Great 403b for teachers?

mnnice , thanks for posting on this thread about your experience with Security Benefit’s Direct Invest. Have you had the Direct Invest account since 2013, or did you change to Direct Invest from another SB plan? I was a new employee to the organization. I ended up just working the 2013-2014 school ...
by mnnice
Tue Nov 08, 2016 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Great 403b for teachers?
Replies: 60
Views: 6786

Re: Great 403b for teachers?

I opened a Security Benefit 403b in 2013. It was the least awful of my 403b choices. I ended up leaving public education and have tried two or three times to roll this over to my Rollover IRA. They make it extra difficult. I be hesitant to roll money into it for sure. I do appreciate the thread as t...
by mnnice
Sun Nov 06, 2016 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: I can't help but feel I'm making a mistake by renting... help?
Replies: 70
Views: 4857

Re: I can't help but feel I'm making a mistake by renting... help?

City school districts are not static and the sooner you buy the greater chance you might get the school district thing wrong.

Keep your undermarket rental til it plays out.
by mnnice
Sat Oct 22, 2016 8:33 pm
Forum: Investing - Help with Personal Investments
Topic: To Purchase or Not to Purchase Pension Years
Replies: 19
Views: 1806

Re: To Purchase or Not to Purchase Pension Years

Under the existing rules is the purchase a one shot deal or can you purchase two years now and more later?
by mnnice
Thu Oct 20, 2016 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: best software for financial planning
Replies: 49
Views: 6823

Re: best software for financial planning

gneeby wrote:
mnnice wrote:
BigFoot48 wrote:
mnnice wrote:It [i-orp.com] also says to take money out of tax deferred. We are both shy of 59 1/2?

Section 72(t) of the IRS tax code that allows you to take regular, penalty-free withdrawals from your IRA; even if you're younger than 59½.


I get that but 72t aren't exactly the most flexible. :(
by mnnice
Thu Oct 20, 2016 5:19 pm
Forum: Personal Consumer Issues
Topic: Sibling's destination wedding?
Replies: 137
Views: 11483

Re: Sibling's destination wedding?

I wonder why people choose to have expensive far-flung wedding destinations? Is it to allow the couple to deeply cull the guest list? Seems like such an imposition on those invited. Seriously, why not tie the knot state-side and honeymoon exotically? OP- I feel your angst. I've three siblings, now ...
by mnnice
Thu Oct 20, 2016 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Budgeting for one after a spouse dies--are there any "average" decreases?
Replies: 26
Views: 2292

Re: Budgeting for one after a spouse dies--are there any "average" decreases?

My widowed mother has more expenses mostly RMDs and paying others for household repairs and maintenance. One less car to insure, fewer pharmaceuticals, and a six pack of cheap beer per week are the only savings.
by mnnice
Sun Oct 16, 2016 6:06 pm
Forum: Personal Consumer Issues
Topic: recs on gas forced air furnace replacement?
Replies: 34
Views: 2584

Re: recs on gas forced air furnace replacement?

I start my seach with the natural gas utility that provides the friend's house. We got a rebate from the utility for about 30% of the cost. Rudd was the brand with the rebates were we live.
by mnnice
Sat Oct 08, 2016 5:14 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion or ACA Silver w cost sharing?
Replies: 14
Views: 901

Re: Roth conversion or ACA Silver w cost sharing?

Not trying to derail this thread but you may want to think about how income will effect your eligiblilty for FASFA and/or the EITC too.
by mnnice
Mon Oct 03, 2016 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement based on not on #, but healthcare?
Replies: 62
Views: 4389

Re: Retirement based on not on #, but healthcare?

...it would be very difficult to survive on 138% of poverty). Please don't confuse having a MAGI of 138% FPL as surviving on 138% FPL. I'm not, that being said I think there are lots of places in the US that you could spend 138% of poverty and live just fine. Most of NJ would not meet the criteria ...
by mnnice
Fri Sep 30, 2016 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Calling all Teachers!
Replies: 33
Views: 2692

Re: Calling all Teachers! [Career change - Engineer to Teacher]

While I have never taught in a public high school I have worked in several in two different states over three different decades. I have watched literally hundreds of teachers teach. Very, very few wash out because they don't know their subject matter. Many, many folks don't get the classroom managem...
by mnnice
Fri Sep 30, 2016 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Retirement based on not on #, but healthcare?
Replies: 62
Views: 4389

Re: Retirement based on not on #, but healthcare?

I retired at 49, two years ago. Went right to Medicaid Manged care. Much better than the work plan was. Yep. Healthy people that know how to save are often working longer than need to (and often end up less physically and mentally healthy as a result.) Culturally, we are very fear based about this....
by mnnice
Fri Sep 30, 2016 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Retirement based on not on #, but healthcare?
Replies: 62
Views: 4389

Re: Retirement based on not on #, but healthcare?

I retired at 49, two years ago. Went right to Medicaid Manged care. Much better than the work plan was. Yep. Healthy people that know how to save are often working longer than need to (and often end up less physically and mentally healthy as a result.) Culturally, we are very fear based about this.
by mnnice
Mon Sep 26, 2016 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Best way to manage irrevocable trust?
Replies: 92
Views: 5189

Re: Best way to manage irrevocable trust?

Depends on what is in the trust too. Vanguard is probably not the best trustee for your Jackson Pollack collection or 2000 acres of Illinois farmland.
by mnnice
Fri Sep 23, 2016 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: best software for financial planning
Replies: 49
Views: 6823

Re: best software for financial planning

Thanks for sharing the math, One Ping. 43k looks about right. :D
by mnnice
Thu Sep 22, 2016 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: best software for financial planning
Replies: 49
Views: 6823

Re: best software for financial planning

But is that how it works IRL? If someone works from ages 15 to 50 then stops working and claims SS at 70 the PIA grows for 20 years? The PIA is fixed based on the earnings history at the end of employment but does not include the annual inflation adjustments between the end of employment and starti...
by mnnice
Thu Sep 22, 2016 7:56 am
Forum: Personal Finance (Not Investing)
Topic: best software for financial planning
Replies: 49
Views: 6823

Re: best software for financial planning

I put a PIA at my full retirement(67) of 17k. I would guess my yearly PIA at 70 would be more like 21k. My spouse's was also listed way too high as well The actual amount depends on the number of years between now and your PIA year, as the COLA rate entered will escalate your entered PIA amount for...
by mnnice
Wed Sep 21, 2016 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: best software for financial planning
Replies: 49
Views: 6823

Re: best software for financial planning

Yes you can. However, I just went and looked at the site and it appears he has made some changes. Scroll down and click on "Full ORP" . This expands the window where you can enter all the parms. I'm guessing that the first part is if you want a quick calculation while accepting the most c...
by mnnice
Wed Sep 21, 2016 6:25 pm
Forum: Personal Consumer Issues
Topic: My "Corolla Investment" has ended...410,000 [miles]
Replies: 56
Views: 7003

Re: My "Corolla Investment" has ended...410,000

I have 194k on my '04 Pontiac Vibe with the original brakes. Hopefully it keeps on trucking to 410k.
by mnnice
Wed Sep 21, 2016 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: best software for financial planning
Replies: 49
Views: 6823

Re: best software for financial planning

What did you think of ORP ? I'm just getting started with the planning tools and am currently looking at ORP, Firecalc and CFireSim. As you mentioned they all seem to have their strong & weak points. I played with it for the first time yesterday. I liked the graphs and how it showed different i...
by mnnice
Mon Sep 19, 2016 9:32 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest for Indian living in USA on H1 visa?
Replies: 21
Views: 1890

Re: How to invest for Indian living in USA on H1 visa?

I doubt the OP has enough tax advantaged space and/or too much income to qualify for the savers credit. Likely they are a one income family as the H4 visa does not allow paided employment iirc. If you add 18k spending+70k savings regardless of what the split is between taxable and tax advantaged it ...
by mnnice
Tue Sep 06, 2016 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Rental house burned. [tax treatment on insurance proceeds]
Replies: 3
Views: 1013

Re: Rental house burned. [tax treatment on insurance proceeds]

Your bigger concern might be your CLUE report and how that will impact the insurance where you currently live.
by mnnice
Mon Sep 05, 2016 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Stopped at the Crossroads
Replies: 21
Views: 3160

Re: Stopped at the Crossroads

Knot Theory
Why are you so glum about the pension? Is it in a seriously underfunded plan?

I am vested in two different state pensions both well funded. I guess I consider that they will become real income streams at some stage.
by mnnice
Tue Aug 30, 2016 8:15 pm
Forum: Personal Consumer Issues
Topic: Car Shopping - Early 2000s Mid-Sized Car Reliability under $5k?
Replies: 37
Views: 2741

Re: Car Shopping - Early 2000s Mid-Sized Car Reliability under $5k?

A Pontiac Vibe/Toyota Matrix might be a good match.
by mnnice
Tue Aug 30, 2016 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Real Estate Purchase Threshold
Replies: 9
Views: 1001

Re: Real Estate Purchase Threshold

Sure.

My current house represented about 10x earned household income at the time we bought it.

We are semi-retired. It also is about 10-12% of our assets and was a cash purchase.
by mnnice
Tue Aug 23, 2016 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for Children
Replies: 32
Views: 2719

Re: Planning for Children

It may be too late, but don't have a kid until one year after close relatives and friends have a kid. That way, you get ALL the baby hard goods for free. Seriously. That even means cribs, car seats, etc. Doesn't always work. That was my BIL idea too. My son and a nephew on the other side are both a...
by mnnice
Sat Aug 20, 2016 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: How to Prepare for Old Age When You Don’t Have Kids
Replies: 21
Views: 3768

Re: How to Prepare for Old Age When You Don’t Have Kids

Everyone should prepare for old age as if they don't have kids. Planning on your kids to take care of you, in any form or fashion, is a poor plan at best, not to mention arguably selfish. I agree! We don't want to burden our kids now or in our old age. This is the main reason why we bought a LTC in...
by mnnice
Sat Aug 13, 2016 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: True state of retirees and course of action
Replies: 29
Views: 3557

Re: True state of retirees and course of action

I don't like my current job too much and sometimes think of early retirement and doing something else, but am not able to pull the trigger. Should that even be considered an option for somebody in my situation ? I'm old school (probably because I am old), but "liking my job" was never muc...
by mnnice
Fri Aug 12, 2016 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: True state of retirees and course of action
Replies: 29
Views: 3557

Re: True state of retirees and course of action

Dh and I are both 47 and have two kids I would consider college bound. We consider ourselves semi-retired with a lower net worth than you. Currently our wr is less than 1% but we are not accumulating any more. If you have both some taxable and tax defered you should be fine. I also think that if you...
by mnnice
Wed Aug 10, 2016 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Parents TOO frugal - leave it be???
Replies: 34
Views: 4142

Re: Parents TOO frugal - leave it be???

My mom is much the same, except that she likes to give money to her Edward Jones guy. It irks me to no end but what are you going to do?
by mnnice
Wed Aug 10, 2016 7:21 am
Forum: Personal Finance (Not Investing)
Topic: My friend doesn't meet the requirements for a conforming loan.
Replies: 32
Views: 2287

Re: My friend doesn't meet the requirements for a conforming loan.

Your friend may love her house, but right now it isn't returning the favor.

Sell and find a place that is really affordable.
by mnnice
Mon Aug 01, 2016 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: has anyone wished they worked one or two more years
Replies: 76
Views: 7000

Re: has anyone wished they worked one or two more years

I consider myself semi-retired. I dont wish I had worked longer at my "career" for a minute longer. If a couple more years of creditable service at the salary I was making would magically appear in my pension account Id be ok with that. :wink:
by mnnice
Fri Jul 29, 2016 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Insure Home for less than replacement value
Replies: 15
Views: 1006

Re: Insure Home for less than replacement value

A structure severely damaged will cost more too replace than just building on a new lot. You might have removal of existing basement. You might have to replace electrical, water, sewer/septic hook-up which are often included in the lot price in a subdivision lot. I think the replacement cost often l...
by mnnice
Sun Jul 03, 2016 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Hedging against home value decrease
Replies: 42
Views: 3270

Re: Hedging against home value decrease

The point is buy what you can afford now. It doesn't matter if the price drops between now and when you sell it if you don't plan on selling it for a long enough time that the dip in the middle is just a minor blip in an overall upward trend. Except that people often need to sell at the bottom. Wha...
by mnnice
Tue Jun 14, 2016 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: Should I liquidate my taxable for hypothetical home purchase in next two years?
Replies: 10
Views: 698

Re: Should I liquidate my taxable for hypothetical home purchase in next two years?

I would keep your "new" money is cash and leave the current 60k were it is til you have a more formed plan. If you know more in Dec think about selling some of your VTSAX to spread the gains over two years.
by mnnice
Sat Jun 11, 2016 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Firearm Insurance Pricing
Replies: 15
Views: 1710

Re: Firearm Insurance Pricing

The OP never said if he or she has $3k worth of guns or $100k
by mnnice
Tue May 31, 2016 7:34 pm
Forum: Personal Consumer Issues
Topic: "starter" vs "regular" home
Replies: 47
Views: 3932

Re: "starter" vs "regular" home

One person's aspirational starter "dump" is another person's "dream" or "forever" house all about your point of view.

I personally loathe the term "forever" house. It seems oblivious to the fact that life changes and then you die.
by mnnice
Thu May 26, 2016 9:25 am
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2658

Re: 84 Year Old Aunt selling small farm

What is the aunt's bias on the farm? If it is very big at all it may not qualify as a primary residence and may not be exempt from long term capital gains taxes (federal and state)? Small farm 500k. We are OK thanks for the heads up jerry Dollar amount is not the only requirement. There have been i...
by mnnice
Wed May 25, 2016 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: 84 Year Old Aunt selling small farm
Replies: 26
Views: 2658

Re: 84 Year Old Aunt selling small farm

What is the aunt's bias on the farm? If it is very big at all it may not qualify as a primary residence and may not be exempt from long term capital gains taxes (federal and state)?
by mnnice
Wed May 25, 2016 9:06 pm
Forum: Personal Consumer Issues
Topic: Advice w/ 62YO Mom Moving In - Rent? Resentment? Plans? (Update, Pg 2)
Replies: 101
Views: 9884

Re: Advice w/ 62YO Mom Moving In - Rent? Resentment? Plans?

My dh, our two kids, and I moved in with my mom after my dad died. This was not about money as both parties were FI. We were worried about her living rurally and maintaining a large rural place. It was as my kids would say an epic fail. The resulting bottom line is that I firmly believe her problems...
by mnnice
Mon May 23, 2016 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Early Retirement and IRA's and/or Soc Sec- Bridge the Gap
Replies: 21
Views: 2360

Re: Early Retirement and IRA's and/or Soc Sec- Bridge the Gap

What year do you turn 59.5? It is actually Jan 1 of that year. I suspect you will be that in 2018 which is only 19 months and you have two year cash in taxable and you are worrying about a non-existant problem. I thought it was the actual 59 1/2 date. Are you thinking about separation from service ...
by mnnice
Mon May 23, 2016 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Early Retirement and IRA's and/or Soc Sec- Bridge the Gap
Replies: 21
Views: 2360

Re: Early Retirement and IRA's and/or Soc Sec- Bridge the Gap

What year do you turn 59.5?

It is actually Jan 1 of that year. I suspect you will be that in 2018 which is only 19 months and you have two year cash in taxable and you are worrying about a non-existant problem.

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