Search found 256 matches

by mnnice
Sun Jan 14, 2018 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Do you correct cashier mistakes?
Replies: 41
Views: 2171

Re: Do you correct cashier mistakes?

I guess I'll be the odd man out and so no, I don't always. There are many times when I get home and look at a receipt and notice I didn't get the sale price or was charged for two items when I only bought one and it is too much trouble to go back to the store. So when they make a mistake the other ...
by mnnice
Tue Jan 09, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: Overwhelmed with how to handle taxes on large inherited portfolio.
Replies: 24
Views: 1640

Re: Overwhelmed with how to handle taxes on large inherited portfolio.

Anyone else have a large portfolio and mange it themselves? How do you handle the quarterly taxes on dividends, muni bond (national, not my state) interest, etc without getting overwhelmed? I am dumber than a sack of hammers, but I can manage a portfolio that’s a multiple of yours in size. I do use...
by mnnice
Sat Jan 06, 2018 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Creative gifting of property
Replies: 28
Views: 2176

Re: Creative gifting of property

So what about the whole idea of them selling it privately to us to avoid tax liability? I mean, even if they sell it at current market value and we take a loan against them where they gift the money back, the money is being kept within the family no? If the sell it to you privately then you parents...
by mnnice
Sat Jan 06, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Creative gifting of property
Replies: 28
Views: 2176

Re: Creative gifting of property

So what about the whole idea of them selling it privately to us to avoid tax liability? I mean, even if they sell it at current market value and we take a loan against them where they gift the money back, the money is being kept within the family no? If the sell it to you privately then you parents...
by mnnice
Fri Jan 05, 2018 11:21 pm
Forum: Investing - Help with Personal Investments
Topic: If you could live off your taxable account is it wise to put all your work money in a 401k?
Replies: 18
Views: 2152

Re: If you could live off your taxable account is it wise to put all your work money in a 401k?

Lots of unknowns, but my plan has a Roth option so I could see the OP’s idea making sense for many in that situation.
by mnnice
Mon Jan 01, 2018 9:05 pm
Forum: Investing - Help with Personal Investments
Topic: starving artist inherits 280,000 dollars
Replies: 19
Views: 3705

Re: starving artist inherits 280,000 dollars

Can someone explain to me Obamacare vs. Medicare for someone like the OP who is seventy and does not have enough credits for Social Security? Are both Obamacare and Medicare (paying more than usual) possible? I know that as someone who has Medicare with enough credits, I believe I am prevented from...
by mnnice
Mon Jan 01, 2018 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare - Duration of Paying in System for Full Eligibility
Replies: 3
Views: 442

Re: Medicare - Duration of Paying in System for Full Eligibility

Sorry if I sounded snotty in the other thread. :? Anyway I suspect that most early retirement oriented folks are in little danger of being left out in the cold on Medicare unless they either did the bulk of her/his accumulation outside of the US or the accumulated was inheritance based :) The one pe...
by mnnice
Mon Jan 01, 2018 12:50 pm
Forum: Investing - Help with Personal Investments
Topic: starving artist inherits 280,000 dollars
Replies: 19
Views: 3705

Re: starving artist inherits 280,000 dollars

Why is OP ineligible for normal Medicare if OP is over 70? he or she does not have enough Social Security credits. It’s in the first sentence. Also, can OP roll inheritance into an IRA to avoid paying immediate taxes on the lump sum The OP has no earned income. I can see taxes being tricky the year...
by mnnice
Sun Dec 31, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Target Net Worth
Replies: 39
Views: 4505

Re: Target Net Worth

To put some numbers on that: In my city a brand new 2-BR condo downtown would cost you about $350,000, plus about $700 a month in taxes and $200 in condo association dues, or about $900 a month total. The same condo would rent for $2,200 a month. [/quote] You know this is about a wash? The safe with...
by mnnice
Wed Dec 27, 2017 3:06 pm
Forum: Investing - Help with Personal Investments
Topic: Wife's Windfall/Inheritance/Retirement/Merrill Lynch
Replies: 37
Views: 4737

Re: Wife's Windfall/Inheritance/Retirement/Merrill Lynch

Just a couple random thoughts. -why doesn’t DW have her own 457 and/or 403b? -Are you HSA eligible? -Are you both Social Security eligible and will either of you be impacted by WEP? -Not sure why you are carrying any debt? I actually don’t think your equity position is that crazy high given your sit...
by mnnice
Tue Dec 26, 2017 1:55 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 316
Views: 23563

Re: What frugal thing did you do today?

A pair of running shoes is all you need :beer Maybe a few dumbbells. Depends on where you live, your lifestyle and many other factors. With 70% of adults in the US overweight or obese, I applaud anyone who exercises regularly, no matter how they manage to do it. But we’re talking about being frugal...
by mnnice
Tue Dec 26, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Should we downsize?
Replies: 42
Views: 3082

Re: Should we downsize?

Was public school part of your plan? Would a house or condo in the 180k-200k range in place you in public schools of similar quality? If the answer is yes to both I would seriously consider it. DH and I have owned three homes in the last 20 years. The current one is the smallest and cheapest while o...
by mnnice
Tue Dec 19, 2017 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Financial Assistance to Adult Child (health insurance)
Replies: 107
Views: 5830

Re: Financial Assistance to Adult Child (health insurance)

Maybe the conversation should be to present to the child that if she is not willing to be responsible to maintain health insurance that it places the parent in the position of choosing between bankruptcy and abandoning the child in a time of extreme need. I don't know what can be done if the child ...
by mnnice
Thu Dec 14, 2017 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Early Retirement - Lump Sum vs. Annuity
Replies: 41
Views: 2908

Re: Early Retirement - Lump Sum vs. Annuity

Is this a straightforward one or the other?

I think in your shoes I would want about 50% annuity vs. 50% lump sum.
by mnnice
Sun Dec 10, 2017 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Quit jobs to gain lower EFC [Expected Family Contribution]
Replies: 89
Views: 6262

Re: Quit jobs to gain lower EFC

If you are going to game the system, it is important to understand both the game and the system, which is something OP needs quite a bit of work on. And any first year MBA student could tell you about the error of sub-optimization. Optimizing for lower taxes or lower tuition costs or greater aid, i...
by mnnice
Fri Dec 08, 2017 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7697

Re: At what age your investments start making more money than you?

I am not sure how much of a milestone it is in this market. My 15 year old has more in his Roth than his lifetime w-2 earnings Very impressive if the money in the Roth IRA came from his w-2 income itself! On the other hand, if you put the money in his Roth, then it is meaningless. The money in the ...
by mnnice
Fri Dec 08, 2017 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: At what age your investments start making more money than you?
Replies: 107
Views: 7697

Re: At what age your investments start making more money than you?

I am not sure how much of a milestone it is in this market. My 15 year old has more in his Roth than his lifetime w-2 earnings
by mnnice
Sun Dec 03, 2017 12:06 am
Forum: Personal Finance (Not Investing)
Topic: Mutual Funds or alternates that don't force income
Replies: 10
Views: 1160

Re: Mutual Funds or alternates that don't force income

Berkshire Hathaway is the classic example for this. But it's not as diversified as an index fund. Active funds are bad for managing income levels, because the churn of stocks can create cap gains without much warning. Straight index funds have dividends but usually don't generate cap gains. Unless ...
by mnnice
Fri Dec 01, 2017 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE [financial independence/retire early]
Replies: 140
Views: 14047

Re: FIRE [financial independence/retire early]

You are denying reality. A college grad is not remotely the same things as a 45-50 year old person who hasn't worked in their field for 5 years. Why is it that if people disagree with others on the internet they love to say things like you are denying reality! Rather than they simply disagree. A co...
by mnnice
Thu Nov 30, 2017 10:14 am
Forum: Personal Finance (Not Investing)
Topic: FIRE [financial independence/retire early]
Replies: 140
Views: 14047

Re: FIRE [financial independence/retire early]

Neither figures take into account SS, but those retiring very early are generally not going to get much from SS anyway. If I retire at 47 instead of 62, my benefits are reduced by 1/3rd because it uses the average wage for 35 years of your highest earnings. Start adding a bunch of zeros in (or just...
by mnnice
Tue Nov 28, 2017 9:19 am
Forum: Personal Finance (Not Investing)
Topic: How to best fund a second home from 401K/IRA??
Replies: 11
Views: 690

Re: How to best fund a second home from 401K/IRA??

What is the reasoning behind keeping the US based house? Don’t feel obligated to share, but with what you shared I’d be inclined to just sell and use the proceeds to fund the new place. It looks like You are adding more complexity than necessary.
by mnnice
Sat Nov 25, 2017 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Thankful for the Debt we Took - Should we Try Again?
Replies: 95
Views: 9304

Re: Thankful for the Debt we Took - Should we Try Again?

I like Watty’s plan.

Your previous plan always works right up til it doesn’t work. Also you really should include any expenses/closing costs related to the mortgage in your total.
by mnnice
Sun Nov 19, 2017 4:41 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 147
Views: 17647

Re: MoviePass-Too good to be true, but it's legit.

denovo wrote:
Sat Nov 18, 2017 9:31 pm
mnnice wrote:
Sat Nov 18, 2017 8:58 pm
I got a MoviePass about 10 days ago. I have seen 3 movies since. The app appears to be down tonight which bums me out as DS and I were going to go to Justice League.
You were gonna see it in 2d? (GASP)
Sometimes I get motion sickness in 3D. Also I’m cheap.
by mnnice
Sat Nov 18, 2017 8:58 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 147
Views: 17647

Re: MoviePass-Too good to be true, but it's legit.

I got a MoviePass about 10 days ago. I have seen 3 movies since. The app appears to be down tonight which bums me out as DS and I were going to go to Justice League.
by mnnice
Tue Nov 14, 2017 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Home fire insurance
Replies: 9
Views: 656

Re: Home fire insurance

Loss of use can vary a lot. Some have a dollar amount and others are more time oriented coverage. Check your declaration page it doesn’t matter what your coworkers coverage is. :wink: We received payments for increased commuting costs and increased utilities cost as the replacement housing was farth...
by mnnice
Sun Nov 12, 2017 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: When would you take a part-time option?
Replies: 23
Views: 1904

Re: When would you take a part-time option?

Besides the nursing example, where do these part-time gigs exist? I work in a megacorp HDQ and highly doubt there are few, if any, professional part-timers. There may be a handful of contractors but not many and their jobs are on the line every six months it seems. I worked part-time as a school ps...
by mnnice
Sat Nov 11, 2017 9:34 pm
Forum: Personal Consumer Issues
Topic: Worth changing 40 gal. to 30gal. hot water tank?
Replies: 90
Views: 5156

Re: Worth changing 40 gal. to 30gal. hot water tank?

Speaking of water heaters.... what is the recommended time to replace them. I have one that is 13 years old. Still works fine.. Should I consider replacing? When they die (which usually means leaking.) Not sure why you would replace a working natural gas heater. The technology and efficiency haven’...
by mnnice
Thu Nov 09, 2017 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Anyone own a home and drop insurance coverage after mortgage paid off?
Replies: 61
Views: 5470

Re: Anyone own a home and drop insurance coverage after mortgage paid off?

It's completely anecdoctal, but between my wife and me, we don't personally know anyone who's had their home completely destroyed. And the average American supposedly knows about 2,000 people. For another completely anecdotal and largely meaningless point of view, if your sample is the six houses t...
by mnnice
Mon Nov 06, 2017 9:42 am
Forum: Personal Finance (Not Investing)
Topic: Why make more money?
Replies: 134
Views: 13651

Re: Why make more money?

I don’t, but I do feel that one of the things people get from work is autonomy (ie having something in his or her life that is about them and not about being a part of a family unit).

I also think the tax code encourages having a small earned income making a part-time job more attractive.
by mnnice
Tue Oct 31, 2017 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Inheritance and ACA
Replies: 20
Views: 2244

Re: Inheritance and ACA

You are not going to get kicked off of ACA but you very well may not get any subsidy. :annoyed If the trust was invested in equities and the person you are receiving the inheritance from has been gone more than a few months the capital gains could be in the solid five figures pretty easily as a func...
by mnnice
Mon Oct 30, 2017 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Early Retirement Healthcare
Replies: 37
Views: 3845

Re: Early Retirement Healthcare

To the OP. You can't generalize as to whether Medicaid is better or worse than a ACA metal plan. In my area the doctor network is the same in both so there is no advantage using a metal plan, which will be more expensive. Factors to consider, how healthy? Someone with ongoing health issues will sav...
by mnnice
Mon Oct 30, 2017 1:25 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 147
Views: 17647

Re: MoviePass-Too good to be true, but it's legit.

I would like to try it. We are a family of four but rarely go together. Older kid goes with his friends/girlfriend. Younger kid goes with friends, one of his parents, or grandma. If they go to the theater in walking distance I can figure out buying the ticket. I have time off during the week and wo...
by mnnice
Mon Oct 30, 2017 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Early Retirement Healthcare
Replies: 37
Views: 3845

Re: Early Retirement Healthcare

Redundant comment oops
by mnnice
Fri Oct 27, 2017 9:24 am
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 147
Views: 17647

Re: MoviePass-Too good to be true, but it's legit.

I would like to try it. We are a family of four but rarely go together. Older kid goes with his friends/girlfriend. Younger kid goes with friends, one of his parents, or grandma. If they go to the theater in walking distance I can figure out buying the ticket. I have time off during the week and wou...
by mnnice
Wed Oct 25, 2017 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: avoiding sequence of returns risk?
Replies: 39
Views: 3059

Re: avoiding sequence of returns risk?

I would like to point out that it is ALWAYS an early period in the rest of your retirement. So, squeaking safely through the first few years of retirement leaves you about where you were with respect to being exposed to sequence of returns risk. You just have fewer year of exposure left, even if yo...
by mnnice
Fri Oct 20, 2017 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a house in retirement - what funds to use?
Replies: 20
Views: 1824

Re: Buying a house in retirement - what funds to use?

I expect to receive a govt pension of about $45K a year with survivorship (in today's $). We currently live on about $36K a year (that is my net after putting money aside in my TSP, Roth, kid's 529s, biweekly auto-investments into Vanguard, and taxes). I'm expecting that adding back in health insur...
by mnnice
Tue Oct 17, 2017 5:34 pm
Forum: Investing - Help with Personal Investments
Topic: Thinking we are close to winning the game
Replies: 40
Views: 7152

Re: Thinking we are close to winning the game

AllMostThere, The healthcare cost situation is fluid. If you haven't looked at the individual market before, you might be in for a rude shock. I am in my late 40s and I ER'ed earlier this year. The premium cost a Bronze HDHP plan for my family of four is $12k+ this year. This is expected to go up b...
by mnnice
Mon Oct 16, 2017 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance: HDHP vs PPO with 2 small kids
Replies: 7
Views: 680

Re: Health Insurance: HDHP vs PPO with 2 small kids

So you've calculated that in the worst case scenario you are saving $700 plus tax deductions? What's your question? Right now I don't think twice about a premature doctor visit with a kid that has had a fever for just a day or two. I am not sure how I will feel once I find a doctor visit is going t...
by mnnice
Fri Oct 13, 2017 8:41 am
Forum: Investing - Theory, News & General
Topic: Dividends vs. Capital Gains for Spending Needs?
Replies: 212
Views: 18274

Re: Dividends vs. Capital Gains for Spending Needs?

I am solidly in the capital gains camp (at least for taxable funds). Better control of income. The current tax code has so many cliffs built in and we overshot one this year due to a “special” dividend :oops:. It will end up being $6,000 difference.My state taxes both capital gains and dividends the...
by mnnice
Wed Oct 11, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: [Boglehead vs Mr Money Mustache philosophies]
Replies: 203
Views: 16321

Re: [Boglehead vs Mr Money Mustache philosophies]

This is one of my biggest questions in the MMM philosophy. Are they all paying their own way with regards to ever-increasing health insurance costs? and if the answer is no, should we be encouraging a lifestyle (albeit a niche lifestyle) that is completely dependent on the government tit for health...
by mnnice
Wed Oct 11, 2017 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: [Boglehead vs Mr Money Mustache philosophies]
Replies: 203
Views: 16321

Re: [Boglehead vs Mr Money Mustache philosophies]

You cannot live on 25k for a family of three and be able to afford full health insurance without subsidies or fund a college education. You can opt out of insurance or not pay for your kids education which is a huge risk and a bad idea for most people. This is one of my biggest questions in the MMM...
by mnnice
Tue Oct 10, 2017 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: [Boglehead vs Mr Money Mustache philosophies]
Replies: 203
Views: 16321

Re: [Boglehead vs Mr Money Mustache philosophies]

You cannot live on 25k for a family of three and be able to afford full health insurance without subsidies or fund a college education. You can opt out of insurance or not pay for your kids education which is a huge risk and a bad idea for most people. This is one of my biggest questions in the MMM...
by mnnice
Wed Oct 04, 2017 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: Is this housing budget reasonable?
Replies: 28
Views: 1568

Re: Is this housing budget reasonable?

I personally would find a job in the new place. Then either rent or find a house you can afford on one salary. I would not worry about the disruption of school for a first grader in normal circumstances. I suspect you are making it harder than you need too. I just didn’t see the point of buying the ...
by mnnice
Sun Oct 01, 2017 11:35 am
Forum: Investing - Theory, News & General
Topic: $10 million+ - Still Working and LBYM
Replies: 162
Views: 17908

Re: $10 million+ - Still Working and LBYM

I'm waiting for KlangFool to mention house poor :wink:

I do get that people end up in situations with a very heavy portions of their net worth tied up in a primary residence more or less on accident. I can't fathom doing it on purpose, but I assume that the OP had his or her reasons.
by mnnice
Thu Sep 28, 2017 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Help me evaluate job offer. From State DOT to FHWA. How to turn pension into present compensation value?
Replies: 13
Views: 1291

Re: Help me evaluate job offer. From State DOT to FHWA. How to turn pension into present compensation value?

The other issue is what happens to "inactive" participants in your current plan. I currently have that status in two plans. In one my pension grows at 2% a year. In the other it grows at a rate that is equivalent to a balanced stock/bond fund. The second has had a nice run up since I left in 2012 :D...
by mnnice
Thu Sep 28, 2017 7:43 am
Forum: Personal Finance (Not Investing)
Topic: Help me evaluate job offer. From State DOT to FHWA. How to turn pension into present compensation value?
Replies: 13
Views: 1291

Re: Help me evaluate job offer. From State DOT to FHWA. How to turn pension into present compensation value?

How does the Health insurance for retirees differ? Most state retirees get no health insurance. Early Fed retirees get the same coverage and subsidies as Fed employees IIRC.
by mnnice
Wed Sep 27, 2017 5:05 pm
Forum: Investing - Help with Personal Investments
Topic: I'm shocked! [Mother 100% in bonds and annuities]
Replies: 67
Views: 7091

Re: I'm shocked! [Mother 100% in bonds and annuities]

https://www.bogleheads.org/forum/viewtopic.php?p=3550175#p3550175 How two parents view RIsk. Both Parents with what appears to be more than enough retirement funds. The similarities are the heirs. When One has enough, One can do anything One wants to do. :twisted: We have enough. :mrgreen: I wish m...
by mnnice
Wed Sep 27, 2017 1:36 pm
Forum: Investing - Help with Personal Investments
Topic: I'm shocked! [Mother 100% in bonds and annuities]
Replies: 67
Views: 7091

Re: I'm shocked! [Mother 100% in bonds and annuities]

I was going to recommend that your mom get together with the fellow a couple of pages back with a Dad 100% in stocks. But it sounds like your mom is married. I have a widowed parent and am convinced if she had to write her Edward Jones "guy" check once or twice a year in lieu of the AUM she pays she...
by mnnice
Mon Sep 18, 2017 6:37 pm
Forum: Investing - Help with Personal Investments
Topic: My in-laws' nest egg of $50k
Replies: 34
Views: 4597

Re: My in-laws' nest egg of $50k

Isn't there some sort of public assistance they could get with that level of income? I would look into it. They may be deserving of something. Maybe a grant or an income supplement. If they sold the condo, maybe they could get subsidized housing. A friend of mine had his mom liquidate everything an...