Search found 158 matches

by mnnice
Wed Apr 19, 2017 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Adult child lack of availability at tax time.
Replies: 24
Views: 1798

Re: Adult child lack of availability at tax time.

My DH helped our 15 year old file this year so he could learn and get the small amount withheld back. That would have been the best time to teach your child. If you don't live with the child in question I find it odd that you even know that they haven't filed. My parents and in laws don't always man...
by mnnice
Tue Apr 18, 2017 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: take pension or not..Help?
Replies: 12
Views: 1430

Re: take pension or not..Help?

^^ My pension amount is based on hours worked. If spouse quits now pension most probably freezes and should be taken immediately. I believe that is the usual arrangement. Employers do not increase compensation after you quit. Of course, this may be different but I read it as continue work to get hi...
by mnnice
Sat Apr 01, 2017 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Options - family with 1 part-time job
Replies: 16
Views: 983

Re: Health Insurance Options - family with 1 part-time job

"You indicated that health coverage is available through your or your spouse’s job. In general, people who are offered insurance through work are not eligible for financial help through the Health Insurance Marketplace." This is what I was thinking and it puts me in a bind. I can get medi...
by mnnice
Sat Apr 01, 2017 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Options - family with 1 part-time job
Replies: 16
Views: 983

Re: Health Insurance Options - family with 1 part-time job

Thanks all. We're a family of 4 (in our 30's with two young kids). AGI will be around $60-$75k / year. It's strange, somethings say I won't get a subsidy (which is what I anticipate) and others show a very large subsidy. For example, the BCBS site says that: "Your income of $70,000 for a famil...
by mnnice
Fri Mar 31, 2017 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: Health Insurance Options - family with 1 part-time job
Replies: 16
Views: 983

Re: Health Insurance Options - family with 1 part-time job

https://www.healthcare.gov/have-job-bas ... lace-plan/

This has the guidelines for eligibility for subsidies. Medicaid may be an option too if you are in an expansion state.
by mnnice
Tue Mar 28, 2017 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Daughter maxed out credit cards, needs help from me
Replies: 92
Views: 4581

Re: Daughter maxed out credit cards, needs help from me

I was Daddy's little girl too. But my Daddy was frugal and it wouldn't have occurred to me to ask him for money. The economic outpatient care that the boyfriend gets seems concerning too. I have watched both of my siblings participate in economic outpatient. One sibling as the constant recipient. Th...
by mnnice
Thu Mar 23, 2017 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: How did graduating out of daycare impact your finances?
Replies: 80
Views: 6602

Re: How did graduating out of daycare impact your finances?

$425/month extra isn't life-changing, but it is more than we spend on food, utilities, and gas...combined. We have kids ten years older and I can't fathom spending so little on food. I spend more than that feeding my 15 yo and he gets a couple free meals every week at his part time job and buys his...
by mnnice
Thu Mar 23, 2017 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: How did graduating out of daycare impact your finances?
Replies: 80
Views: 6602

Re: How did graduating out of daycare impact your finances?

$425/month extra isn't life-changing, but it is more than we spend on food, utilities, and gas...combined. We have kids ten years older and I can't fathom spending so little on food. I spend more than that feeding my 15 yo and he gets a couple free meals every week at his part time job and buys his...
by mnnice
Thu Mar 23, 2017 9:21 am
Forum: Personal Finance (Not Investing)
Topic: How did graduating out of daycare impact your finances?
Replies: 80
Views: 6602

Re: How did graduating out of daycare impact your finances?

$425/month extra isn't life-changing, but it is more than we spend on food, utilities, and gas...combined. We have kids ten years older and I can't fathom spending so little on food. I spend more than that feeding my 15 yo and he gets a couple free meals every week at his part time job and buys his...
by mnnice
Tue Mar 21, 2017 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Recommended emergency fund for middle class households: $13,800
Replies: 64
Views: 6723

Re: Recommended emergency fund for middle class households: $13,800

"Palatineman wrote: Anyone can become homeless very quickly, if the market crashes and you don't have adequate cash flow or if you become disabled and not have appropriate insurance. Actually you could become homeless suddenly without warning due to natural disaster or fire without regard to t...
by mnnice
Mon Mar 20, 2017 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: Recommended emergency fund for middle class households: $13,800
Replies: 64
Views: 6723

Re: Recommended emergency fund for middle class households: $13,800

Anyone can become homeless very quickly, if the market crashes and you don't have adequate cash flow or if you become disabled and not have appropriate insurance. Actually you could become homeless suddenly without warning due to natural disaster or fire without regard to the amount of money in the...
by mnnice
Fri Mar 17, 2017 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Texas Teachers Retirement too good to be true?
Replies: 39
Views: 4673

Re: Texas Teachers Retirement too good to be true?

State pension plans rules generally discourage "cashing out" or rolling over to a TIRA. I am vested in three state pensions in two states. I would forfeit 50% of the total plan balance in all three plans of I rolled them over. Assuming a normal life span $100k anniuitized at 65 is going to...
by mnnice
Wed Mar 01, 2017 3:32 pm
Forum: Personal Finance (Not Investing)
Topic: modeling expected healthcare costs with Medicare
Replies: 37
Views: 1562

Re: modeling expected healthcare costs with Medicare

[I am not including dental or eyeglasses] Not on medicare for another year. But setting aside subsidized retiree insurance premium, these are frequently our largest expense items. They tend to be lumpy but large (thousands, not hundreds). I do think they are both easier to "hack" I have g...
by mnnice
Wed Mar 01, 2017 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: modeling expected healthcare costs with Medicare
Replies: 37
Views: 1562

Re: modeling expected healthcare costs with Medicare

[I am not including dental or eyeglasses] Not on medicare for another year. But setting aside subsidized retiree insurance premium, these are frequently our largest expense items. They tend to be lumpy but large (thousands, not hundreds). I do think they are both easier to "hack" I have g...
by mnnice
Wed Feb 22, 2017 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: Maternity leave and Condo Loss = opportunity to liquidate taxable
Replies: 9
Views: 903

Re: Maternity leave and Condo Loss = opportunity to liquidate taxable

You probably are going to need a skilled tax professional to unwind this. Your cost basis is what the fair market value was at the time you converted to a rental. It might be tricky to figure that out. 2011 was at or near the bottom in a lot of places. You might not have a loss :( . The monthly cash...
by mnnice
Sat Feb 11, 2017 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Expenditures for household income $100k+
Replies: 35
Views: 3621

Re: Expenditures for household income $100k+

I found the information very interesting. I am a bit confused on shelter versus housing? Is shelter a place to live and housing shelter plus related utilities?

While I knew the poor spend a high percentage on housing I was pretty surprised how high housing was in general.
by mnnice
Wed Feb 08, 2017 10:22 am
Forum: Personal Consumer Issues
Topic: WSJ Digital Subscription - a bargain!
Replies: 39
Views: 5884

Re: WSJ Digital Subscription - a bargain!

I had a pop up ad from WSJ for a president's day sale. $1 for 2 months digital print or both.

I would have bitten but the fine print said 180 days since the last subscription.
by mnnice
Wed Feb 01, 2017 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: If the stepped up basis at death is eliminated....
Replies: 22
Views: 1652

Re: If the stepped up basis at death is eliminated....

It would jack up the ability to have generational sucession for small businesses or farms. Or keep mom's house and prop 13 exemption in CA.
by mnnice
Fri Jan 13, 2017 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA for High Net Worth Parents?
Replies: 71
Views: 6751

Re: FAFSA for High Net Worth Parents?

If you are low enough income you can fill out the FAFSA form doesn't look at assets. That's our personal situation so I plan on completing the form. The FAFSA doesn't ask about assets? The fact that DD has enough in her 529 plan to cover four years of college tuition doesn't matter? The way we are ...
by mnnice
Fri Jan 13, 2017 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA for High Net Worth Parents?
Replies: 71
Views: 6751

Re: FAFSA for High Net Worth Parents?

If you are low enough income you can fill out the FAFSA form doesn't look at assets. That's our personal situation so I plan on completing the form.
by mnnice
Thu Jan 05, 2017 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs. Buy vs. Lease Option Minneapolis
Replies: 11
Views: 917

Re: Rent vs. Buy vs. Lease Option Minneapolis

The Twin cities are an area where neighborhoods have very different feels. A year for exploring and figuring out what you like will be good. A former resident of Bloomington, Minneapolis, St Paul, Woodbury, and Maple Grove :D
by mnnice
Fri Dec 30, 2016 9:51 am
Forum: Personal Finance (Not Investing)
Topic: I'll never save a 20% down payment. Rent for life?
Replies: 138
Views: 13300

Re: I'll never save a 20% down payment. Rent for life?

I would check to see if there is a Habitat for humanity group in your area. You would be good candidates. The one in my area has trouble finding qualified folks.

It solves the downpayment problem which looks like your barrier at this time.
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: 1495

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: 6672

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: 6672

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: 16227

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: 2815

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: 6642

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: 6642

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: 2366

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: 102
Views: 12347

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: 102
Views: 12347

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: 73
Views: 6380

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: 1937

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: 60
Views: 8716

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: 12494

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: 2528

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: 2824

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: 1017

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: 4813

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: 2910

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: 4813

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: 4813

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: 5920

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: 60
Views: 8716

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: 60
Views: 8716

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: 60
Views: 8716

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: 60
Views: 8716

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: 7352

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.

Go to advanced search