Search found 231 matches

by mnnice
Tue Nov 14, 2017 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Home fire insurance
Replies: 9
Views: 558

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: 1691

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: 4622

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: 4977

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: 12754

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: 2024

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: 3648

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: 117
Views: 12472

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: 3648

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: 117
Views: 12472

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: 2729

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: 1656

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: 35
Views: 5851

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: 621

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: 200
Views: 15340

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: 14958

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: 14958

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: 14958

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: 1397

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: 16721

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: 1173

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: 1173

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: 6536

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: 6536

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: 4419

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...
by mnnice
Sat Sep 16, 2017 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their umbrella insurance?
Replies: 129
Views: 16967

Re: Who has needed to use their umbrella insurance?

i had to use my umbrella. after settlement it was cancelled for a period of 3 years. in the interim i increased the liability on both my autos and home to $1 million. you can be sure that i renewed it as soon as i was able. edit to add: to answer a question above at renewal the rate was basically t...
by mnnice
Fri Sep 15, 2017 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Wisconsin rentals owned in LLC, how to pass to kids
Replies: 8
Views: 590

Re: Wisconsin rentals owned in LLC, how to pass to kids

You basically need to do a generational succession plan. As a rule it works better when you start sooner, get professional help planning, and either have capital or access to capital to buy out the uninterested parties. I hold no legal expertise or practical knowledge on how to do it in a tax effici...
by mnnice
Wed Sep 13, 2017 9:11 pm
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 350
Views: 40446

Re: Flaunt Your High-Mileage Car

I have a 2004 Pontiac Vibe with 208k. It still had the original brakes. Yes it does stop :wink:. Lots of highway miles.
by mnnice
Wed Sep 13, 2017 8:39 pm
Forum: Personal Consumer Issues
Topic: Is it really Worth it to brown bag your lunch at work?
Replies: 313
Views: 19170

Re: Is it really Worth it to brown bag your lunch at work?

What is more compelling is trying to half brown bag. Has anyone tried this? Lets say you buy some of those individual potato chip packs. Buy yourself a case of soda, water, or juice. Then, you get a sandwich (only) from a restaurant and eat the chips you have conveniently stored in your trunk. Frie...
by mnnice
Tue Sep 12, 2017 8:11 am
Forum: Personal Finance (Not Investing)
Topic: When calculating net worth, how do you value your house?
Replies: 167
Views: 9144

Re: When calculating net worth, how do you value your house?

I suspect part of the reason people want to exclude home value is their emotional attachment to their home. Personally, my situation was different. I bought a home with cash that I really would have preferred not to buy. I needed to be in a particular school district and there were pretty much no re...
by mnnice
Thu Sep 07, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Married, owning two homes, file as HOH?
Replies: 43
Views: 2378

Re: Married, owning two homes, file as HOH?

There are a lot of inequities in life. I am single and never had children. I pay taxes for schools which don't directly benefit me. My tax rate is much higher than a married person with same salary. The 15% tax limit is around 37k. Very little room for roth conversions. Everyone has complaints abou...
by mnnice
Thu Sep 07, 2017 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Married, owning two homes, file as HOH?
Replies: 43
Views: 2378

Re: Married, owning two homes, file as HOH?

It might make sense but it is not available if you remain married :wink:
by mnnice
Thu Aug 31, 2017 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: Is my understanding of Unemployment insurance correct?
Replies: 12
Views: 1037

Re: Is my understanding of Unemployment insurance correct?

My understanding of EI is that every state has Byzantine rules and you don't get anything unless you ask. Right to work states are always going to be stingier. In other words I agree with KlingKlang :D
by mnnice
Wed Aug 30, 2017 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: How much sooner could you retire with NO property taxes?
Replies: 116
Views: 7608

Re: How much sooner could you retire with NO property taxes?

If I got rid of any of my biggest expense categories I would have retired sooner. Unfortunately, they tend to be for goods or services I need. My current largest monthly expense is food, but I am not giving it up to retire. On the other hand if I did my time horizon would be pretty short.
by mnnice
Tue Aug 29, 2017 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: What to do when a parent's money runs out?
Replies: 218
Views: 31820

Re: What to do when a parent's money runs out?

Well, in the case of the OP, what's the worst thing that can happen if his mother goes head over heels into debt with credit cards and the like? She'll have to declare bankruptcy and then be forced to live within her means, or creditors will take whatever she owns when she passes away. "What's the ...
by mnnice
Mon Aug 28, 2017 9:33 pm
Forum: Personal Consumer Issues
Topic: T-Mobile promotion for 55+
Replies: 84
Views: 8678

Re: Just saved $1000 / year on mobile plan

We pay about $13/month for two lines on Tracfone. I need unlimited data for business reasons. Other than "business reasons," I am curious how people use so much data. I am like Nicolas. We have 2 cellphones-one uses the H2owireless $10 for 3 months plan and the other the "RealMobile $10 for 4 month...
by mnnice
Sat Aug 26, 2017 11:09 am
Forum: Investing - Help with Personal Investments
Topic: 30,000 in Checking Account
Replies: 136
Views: 21774

Re: 30,000 in Checking Account

Stop focusing on what you would get if you cashed out today. They make that painful on purpose. :wink: If you never work another day in your life you will have a pension in the $450-500 per month range at 65. If you keep working potentially way more. It also probably still in effect if you work for ...
by mnnice
Sat Aug 26, 2017 7:23 am
Forum: Investing - Help with Personal Investments
Topic: 30,000 in Checking Account
Replies: 136
Views: 21774

Re: 30,000 in Checking Account

https://www.kpers.org/active/kpers2.html

This is a good start assuming your not a cop. :wink:
by mnnice
Sat Aug 26, 2017 7:14 am
Forum: Investing - Help with Personal Investments
Topic: 30,000 in Checking Account
Replies: 136
Views: 21774

Re: 30,000 in Checking Account

I'll try to reply to all in this one post as I don't have much time. Yes, I have a HSA and a 457b plan is available. I should also note that I do not plan on being at this job forever, and if I leave this job, I do not get the 8.5% the state contributes. To get what they put in, you have to retire ...
by mnnice
Fri Aug 25, 2017 9:58 pm
Forum: Investing - Help with Personal Investments
Topic: 30,000 in Checking Account
Replies: 136
Views: 21774

Re: 30,000 in Checking Account

I'll try to reply to all in this one post as I don't have much time. Yes, I have a HSA and a 457b plan is available. I should also note that I do not plan on being at this job forever, and if I leave this job, I do not get the 8.5% the state contributes. To get what they put in, you have to retire ...
by mnnice
Thu Aug 24, 2017 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Obamacare even cheaper for millionaire early retirees
Replies: 22
Views: 7280

Re: Obamacare even cheaper for millionaire early retirees

Interesting article from the Retire Early Homepage. I retired earlier this year. DW and I decided to go on ObamaCare with a silver plan for 2017. This has worked out very well for us so far. After reading this article, maybe we will go with the bronze plan for 2018. According to the article, you ma...
by mnnice
Wed Aug 23, 2017 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: When have you achieved financial independence?
Replies: 27
Views: 4390

Re: When have you achieved financial independence?

I think both render you FI. I think scenario A would be easier to accomplish for nearly all couples and most single people. It would happen faster in tax advantaged environment. Scenario B would be more likely if you sold a business or ended up with an inheritance. I suspect the most flexible would ...
by mnnice
Thu Aug 17, 2017 9:21 am
Forum: Investing - Help with Personal Investments
Topic: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio
Replies: 45
Views: 9763

Re: Cancer at 38. Going from high income to no income. Need help generating income from $5m portfolio

I see you have life insurance as an annual expense. Is that included in your $5M portfolio or would that give you additional flexibility? It is possible that you could use any life insurance to purchase the house outright. I see a lot of flexibility in your budget. If you become a single mother, yo...
by mnnice
Wed Aug 16, 2017 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Plan for making child pay for part of college
Replies: 111
Views: 6349

Re: Plan for making child pay for part of college

I encourage all parents of prospective college goers to look at the student budgets posted on their state flagship websites. For instance, for UC Berkeley, tuition and fees combined are $14,068 . Room & board is another $15,716 if you live on campus. In a previous post I noted that public colleges ...
by mnnice
Thu Aug 10, 2017 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: Life at crossroads. What would you do ?
Replies: 198
Views: 18352

Re: Life at crossroads. What would you do ?

Guys I'm not whining or being negative intentionally. Just stating my concerns. Moving to LCOL sounds awesome except when you think about the practicalities of getting a job and networking. If I can't get a job with my connections in the valley what chance do I have outside the valley. I don't know...
by mnnice
Fri Aug 04, 2017 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Anyone else have trouble spending?
Replies: 91
Views: 6445

Re: Anyone else have trouble spending?

I make 250 and save almost 200 after including company 401k match. I cannot bring myself to pay $41/month on a gym membership to give me access to a climbing wall that will bring me great joy. I clicked on the link thinking I had met a kindred spirit. My strategy is to bike to work (7 miles one way...
by mnnice
Wed Jul 26, 2017 10:42 am
Forum: Personal Finance (Not Investing)
Topic: Inheritance Questions
Replies: 22
Views: 3415

Re: Inheritance Questions

Money in CalSTRS is not the same as money in a savings account. I am not sure of the exact rules nor her status at the time of death but it matters. The rules will be different if she was working at the time of death, inactive (not working a CalSTRS covered employer but not collecting a pension from...
by mnnice
Tue Jul 25, 2017 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Financial Characteristics of Physicians
Replies: 24
Views: 2412

Re: Financial Characteristics of Physicians

Maybe the actionable part of this is medical school is not worth it. :?

It is a bit mind blowing to me that my household has more retirement savings than the average 50 something doctor's household. Since DH and I have never combined made what most doctors make individually.
by mnnice
Tue Jul 11, 2017 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: How to save for and finance house move up
Replies: 64
Views: 3727

Re: How to save for and finance house move up

I can't tell if you have looked at houses and DW has her heart set on a specific house or subdivision already. Or has sharing a bathroom with the rest of you gotten on her last nerve. :wink: Regardless this is not an emergency and should not be treated as such. Have you looked at at any houses? I ju...
by mnnice
Tue Jul 11, 2017 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Is Medicaid eligibility based only on income or are assets included too?
Replies: 21
Views: 1688

Re: Is Medicaid eligibility based only on income or are assets included too?

They've both already qualified. I'm just confused as to how someone with a lot of assets who is intentionally not working much any more can be eligible for Medicaid. I guess what I'm trying to come to grips with is if Medicaid eligibility is that messed up that someone like them would actually qual...