Search found 113 matches

by mnnice
Fri Sep 23, 2016 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: best software for financial planning
Replies: 47
Views: 6062

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: 47
Views: 6062

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: 47
Views: 6062

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: 47
Views: 6062

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: 54
Views: 5662

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: 47
Views: 6062

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: 1740

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: 967

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: 3028

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: 2560

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: 941

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: 2549

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: 3607

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: 3416

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: 3416

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: 4008

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: 2184

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: 6716

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: 956

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: 3146

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: 652

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: 1638

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: 3684

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: 2598

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: 2598

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: 9550

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: 2288

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: 2288

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.
by mnnice
Fri May 20, 2016 8:52 am
Forum: Personal Finance (Not Investing)
Topic: Pride in no inheritance to kids?
Replies: 233
Views: 2024

Re: Pride in no inheritance to kids?

[quote="KlangFool"][quote="ks289"] The idea has lots of truth. However, the reasons for this phenomenon are likely numerous, only one of which being that money diminishes the motivation/development of subsequent generations. Over time, the lack of talent and/or luck are likely to...
by mnnice
Tue May 10, 2016 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: New house or Early Retirement?
Replies: 23
Views: 3267

Re: New house or Early Retirement?

I would certianly think that Cherry would be quieter than Wall (Wall Lake was the location of much of DH's misspent youth). And that was my incorrect assumption :wink: I am curious as to whose resposibility it will be to drain the lake when it fills up with sediment (city, HOA)? Good luck with whate...
by mnnice
Tue May 10, 2016 8:59 am
Forum: Personal Finance (Not Investing)
Topic: New house or Early Retirement?
Replies: 23
Views: 3267

Re: New house or Early Retirement?

I guess I was looking at it from the perspective that you didnt get much "lifestyle" for the extra 250-300 thousand you spent. I lived in the area and while the lake has nice houses on it nobody acted like it was a big deal. It is not great fishing or swimming. Your kids will still want a ...
by mnnice
Mon May 09, 2016 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: New house or Early Retirement?
Replies: 23
Views: 3267

Re: New house or Early Retirement?

If you were telling me you wanted to downsize and buy a small house in McKenna Park I would say yes. But build a house on the lake of which you speak no way. It might be a decent investment but I dont think I would like the jetski racket and weekend ruckus. Retire early to a more pleasant lake.
by mnnice
Fri Apr 22, 2016 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: How to handle large long term capital gain with respect to ACA Medicaid
Replies: 19
Views: 1658

Re: How to handle large long term capital gain with respect to ACA Medicaid

We had a similiar situation last year and needed to sell appreciated stock to buy a home. We never got a very clear answer from my states DHS either :( . We deferred almost all our earned income in my 401k and had a year with almost entirely long term gain as income and just stayed under the limits....
by mnnice
Mon Apr 11, 2016 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: Balance Employee qualifying for Medicaid versus full work week
Replies: 8
Views: 494

Re: Balance Employee qualifying for Medicaid versus full work week

I am not sure contributing to a 401k or 403b works :? as most states look at gross pay and really do not care about net pay much.
by mnnice
Sat Apr 09, 2016 10:17 am
Forum: Personal Finance (Not Investing)
Topic: is keeping employer health insurance a good reason to stay in a bad job
Replies: 29
Views: 2319

Re: is keeping employer health insurance a good reason to stay in a bad job

I have found a few loopholes in ACA that can really mess things up. Without a job you have no earned income, in my state those with income levels below ~$14k for an individual or ~$29k for a family (Social security doesn't count) cannot enroll in ACA and MUST go onto the state's medicaid system. Yo...
by mnnice
Wed Mar 30, 2016 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Dropping Full Coverage Auto Insurance
Replies: 6
Views: 721

Re: Dropping Full Coverage Auto Insurance

You are paying about $1000 per year to insure yourself against a loss between $1500 and $2500 depending on the value of the vehicle and the deductable. It would be a risk I would gladly take on as you have money for a replacement vehicle.
by mnnice
Mon Feb 29, 2016 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Sibling has decided not to pay for college for his future children
Replies: 47
Views: 3779

Re: Sibling has decided not to pay for college for his future children

stoptothink wrote:IMO, you are way out of line even worrying about this.

Yep as my friend Kasey Musgraves says
"Mind your own biscuits life will be gravy."
by mnnice
Mon Feb 15, 2016 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Subsidy/Medicaid Questions
Replies: 6
Views: 798

Re: Health Insurance Subsidy/Medicaid Questions

From my experience DHS staff don't understand dividends or rental income very well. :(

Cash rent vs her current share arrangement would be easier to understand, but should be necessary.

Calling your assembly person might be another option if speaking to a supervisor does not yield results.
by mnnice
Wed Jan 13, 2016 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: What exactly is "decanting" a Trust
Replies: 5
Views: 745

Re: What exactly is "decanting" a Trust

My ILs put the ag land they own in an irrevocable trust. They are in a state that allows decanting. What does that mean in real life? Are the recipents of the trust just allowed to change or pass on who get the income generated? Or can they liquidate the trusts holdings? And if you can make signific...
by mnnice
Sat Jan 09, 2016 3:16 pm
Forum: Personal Consumer Issues
Topic: Building a new small home
Replies: 37
Views: 3897

Re: Building a new small home

But often its worth because you can have chickens. Made me laugh! (And I do meant that sincerely, not with sarcasm :happy .) I mean very seriously. Last three places Ive lived were rural with chickens. I miss my chickens and awesome stars and sunsets. I do not miss being 8 miles from a gallon of mi...
by mnnice
Fri Jan 08, 2016 8:06 pm
Forum: Personal Consumer Issues
Topic: Building a new small home
Replies: 37
Views: 3897

Re: Building a new small home

Slightly off topic but I am not sure rural living is suited to people that are not at least average in handiness.

Imo all rural settings have challenges you are not going to encounter in town. But often its worth because you can have chickens.
by mnnice
Tue Jan 05, 2016 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: How many streams of income do you have?
Replies: 60
Views: 6625

Re: How many streams of income do you have?

Previously, but not currently

Dh's wages
Rental income

In 2015
My wages
Long term capital gains
Unemployment
Qualified dividends
Interest

In the future
Defined benefit pension
Social security
Rental income (probabily in the form of ag land in a trust)
Ira or 401k distributions
by mnnice
Mon Jan 04, 2016 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Getting health insurance for recent immigrant, above 65 in CA
Replies: 3
Views: 460

Re: Getting health insurance for recent immigrant, above 65 in CA

medi-cal or medicaid in california has essentially eliminated all asset tests: http://healthconsumer.org/New_Health_Law_CA_IssueBrief_2_Final.pdf it's also possible to buy into medicare - but I think you have to have lived in the US for 5+ years: http://www.aarp.org/health/medicare-insurance/info-0...
by mnnice
Sun Jan 03, 2016 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Getting health insurance for recent immigrant, above 65 in CA
Replies: 3
Views: 460

Re: Getting health insurance for recent immigrant, above 65 in CA

According to this http://www.coveredca.com/individuals-and-families/getting-covered/immigrants/ If she is her legally she could get either medi-cal or covered ca. If IRC Med-cal still has asset limits that are pretty low. Covered CA requires an income above poverty. I have a family member in CA that...
by mnnice
Sat Jan 02, 2016 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing term life from AIG - should we sign my wife up now or wait until after the baby?
Replies: 4
Views: 502

Re: Purchasing term life from AIG - should we sign my wife up now or wait until after the baby?

Most pregnant woman in their third trimster of pregnancy are not going to qualify for the lowest rates due to weight :wink:

Wait til this summer :happy
by mnnice
Tue Dec 01, 2015 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: 2016 Obamacare-> What happens if make less than poverty level ($11800) in a state that didnt expand Medicaid?
Replies: 16
Views: 2794

Re: 2016 Obamacare-> What happens if make less than poverty level ($11800) in a state that didnt expand Medicaid?

Looks to me like you need more income (roth conversions, earned income, more dividends as a PP suggested) Or move to one of the 31 states that expanded Or be uninsured and take your chances Or as a total long shot take/find the rare part time job with insurance. I have an aqaintance with a part time...
by mnnice
Tue Sep 01, 2015 8:12 am
Forum: Personal Finance (Not Investing)
Topic: About to close on a home we have overbid on - have cold feet
Replies: 74
Views: 11224

Re: About to close on a home we have overbid on - have cold feet

*laughing* Oops. My bad. I didn't read SFO. Never mind....[/quote] I read the post twice. First as written and then with the last zero dropped off. It really helped my lcol midwestern brain comprehend. I think the no green card is a way bigger deal than any issues with this deal. While the powerline...
by mnnice
Sun Aug 16, 2015 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Cash in the house
Replies: 80
Views: 7809

Re: Cash in the house

We had a house fire and burnt up about $1200.
I have been anxious about having much cash in the house since.

OTOH We got no grief about it from the insurance co. Its replacement value was $1200 :wink:
by mnnice
Tue Aug 04, 2015 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: ACA (ObamaCare) Subsidy - Early Retirement
Replies: 18
Views: 2047

Re: ACA (ObamaCare) Subsidy - Early Retirement

Alternatively, If you are in a state that expanded medicaid maybe medicaid is the best answer for 2015 and 2016. Use ACA later at 62-65. Medicaid tends to be a very poor choice for most people. You will find that most of your existing healthcare providers will not accept it. I would really hestitat...
by mnnice
Tue Aug 04, 2015 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: ACA (ObamaCare) Subsidy - Early Retirement
Replies: 18
Views: 2047

Re: ACA (ObamaCare) Subsidy - Early Retirement

Alternatively, If you are in a state that expanded medicaid maybe medicaid is the best answer for 2015 and 2016. Use ACA later at 62-65. Medicaid tends to be a very poor choice for most people. You will find that most of your existing healthcare providers will not accept it. I would really hestitat...

Go to advanced search