Bogleheads.org

mnnice

Thanks for sharing the math, One Ping. 43k looks about right.

mnnice

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...

mnnice

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...

mnnice

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...

mnnice

I have 194k on my '04 Pontiac Vibe with the original brakes. Hopefully it keeps on trucking to 410k.

mnnice

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...

mnnice

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 ...

mnnice

Your bigger concern might be your CLUE report and how that will impact the insurance where you currently live.

mnnice

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.

mnnice

A Pontiac Vibe/Toyota Matrix might be a good match.

mnnice

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.

mnnice

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...

mnnice

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...

mnnice

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...

mnnice

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...

mnnice

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?

mnnice

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

Sell and find a place that is really affordable.

mnnice

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.

mnnice

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...

mnnice

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...

mnnice

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.

mnnice

The OP never said if he or she has $3k worth of guns or $100k

mnnice

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.

mnnice

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...

mnnice

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)?

mnnice

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...

mnnice

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 ...

mnnice

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.

mnnice

[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...

mnnice

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...

mnnice

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 ...

mnnice

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.

mnnice

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....

mnnice

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.

mnnice

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...

mnnice

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.

mnnice

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."

mnnice

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.

mnnice

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...

mnnice

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...

mnnice

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.

mnnice

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

mnnice

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...

mnnice

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...

mnnice

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

Wait til this summer

mnnice

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...

mnnice

*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...

mnnice

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

mnnice

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...

mnnice

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...

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