Search found 3640 matches

by mptfan
Tue May 24, 2016 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: How old can you be and retire early?
Replies: 81
Views: 7633

Re: How old can you be and retire early?

Apparently there is no consensus on how to define "retired." If someone can continue to work and call themselves retired, that makes some of the responses to this question less meaningful.
by mptfan
Tue May 24, 2016 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: How old can you be and retire early?
Replies: 81
Views: 7633

Re: How old can you be and retire early?

joebh wrote:Now, I've been asked to help out at my former company so I'm consulting there 2 days per week. Am I no longer retired?

No, you are no longer retired. You retired early, then you went back to work part time.
by mptfan
Mon May 23, 2016 10:26 am
Forum: Investing - Theory, News & General
Topic: Why do we believe in the market?
Replies: 53
Views: 4355

Re: Why do we believe in the market?

Stock market is the only game in town. That is why we play. Unless you just keep cash, which is, in part, not a bad idea. This is not true. You can invest in individual corporate bonds, or treasury bonds (e.g. Savings Bonds), or municipal bonds, or bond funds, or certificates of deposit, or annuiti...
by mptfan
Mon May 23, 2016 9:02 am
Forum: Personal Finance (Not Investing)
Topic: How old can you be and retire early?
Replies: 81
Views: 7633

Re: How old can you be and retire early?

TheTimeLord wrote:I seem to see 3 categories around here.

Normal Retirement: 65 or older
Early Retirement: 55-62
Overachiever Retirement: before 51

What about those people who retire at 63-64 or 52-54?
by mptfan
Sun May 22, 2016 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Pride in no inheritance to kids?
Replies: 222
Views: 14491

Re: Pride in no inheritance to kids?

How does the IRS even keep track of this? What's to keep someone from (terrible example, but an example all the same) giving someone a $100 in cash a day every day of the year? Or $200? Far in excess of the magical $14,000 without any accounting headaches. They don't keep track of cash transactions...
by mptfan
Sat May 21, 2016 7:57 am
Forum: Personal Finance (Not Investing)
Topic: How old can you be and retire early?
Replies: 81
Views: 7633

Re: How old can you be and retire early?

This topic was discussed in the early retirement forum...

http://www.early-retirement.org/forums/ ... 24310.html
by mptfan
Fri May 20, 2016 3:25 pm
Forum: Personal Consumer Issues
Topic: Pay off car or save/invest that money
Replies: 14
Views: 1036

Re: Pay off car or save/invest that money

Pay off the car.
by mptfan
Thu May 19, 2016 1:19 pm
Forum: Personal Finance (Not Investing)
Topic: What age did you reach 100K networth?
Replies: 299
Views: 48117

Re: What age did you reach 100K networth?

35 years old.
by mptfan
Wed May 18, 2016 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Most affordable option for a will
Replies: 61
Views: 3620

Re: Most affordable option for a will

flyingbison wrote:What if you hired a carpenter to build a cabinet, and he simply assembled a stock unit purchased from IKEA or Home Depot? I think that's a closer analogy.

You didn't answer my question.
by mptfan
Wed May 18, 2016 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Is it common for a step mother to inherit everything?
Replies: 105
Views: 7658

Re: Is it common for a step mother to inherit everything?

It may be customary for children to receive an "inheritance" when their parent's pass, but that doesn't change the fact that you irrationally believe you should have ownership of what your father earned. Those are assets he earned and he decided what he wanted done with them at his passin...
by mptfan
Wed May 18, 2016 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Most affordable option for a will
Replies: 61
Views: 3620

Re: Most affordable option for a will

Larry Allen, so when I search for online estate software, I see that many lawyers are writing into discussion boards asking about the best software to use when writing up estate plans. So, this scares me a little bit. Am I just going to get some lawyer that has NOLO installed on his computer? I gue...
by mptfan
Tue May 17, 2016 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Is it common for a step mother to inherit everything?
Replies: 105
Views: 7658

Re: Is it common for a step mother to inherit everything?

miles monroe wrote:besides...that keeps the golddiggers away. :)

Only if they know. Besides, some older men like the company of golddiggers... google J. Howard Marshall.
by mptfan
Tue May 17, 2016 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Is it common for a step mother to inherit everything?
Replies: 105
Views: 7658

Re: Is it common for a step mother to inherit everything?

That being said...the testator should give copies of the will to each beneficiary to avoid this problem or put the will on file with the county clerk or another trusted third party and give contact info to the beneficiaries. I agree that the testator *should* give a copy of the will to the benefici...
by mptfan
Tue May 17, 2016 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Most affordable option for a will
Replies: 61
Views: 3620

Re: Most affordable option for a will

Unless you have a complex situation, just use a software program or an online template. It isn't rocket science. I just hate to pay excessive fees to someone for something I can do myself. I think you are missing the point. You may think you do not have a "complex situation" when in reali...
by mptfan
Tue May 17, 2016 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off credit card, or save for mortgage?
Replies: 14
Views: 814

Re: Pay off credit card, or save for mortgage?

This is not even a close call... pay off the credit card.
by mptfan
Tue May 17, 2016 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Most affordable option for a will
Replies: 61
Views: 3620

Re: Most affordable option for a will

What's a good but affordable option for a will/estate. I'm in Colorado. Very simple: 1. Have brother get kids (in event of death). 2. Have brother use life insurance/savings to raise kids til 18 and then give leftover to split between them. You should be aware that the moment your brother gets the ...
by mptfan
Tue May 17, 2016 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Is it common for a step mother to inherit everything?
Replies: 105
Views: 7658

Re: Is it common for a step mother to inherit everything?

My sister and I were under the impression that there was a will, but that's not known 100%. I think it's unusual and suspicious that we haven't seen a will or been made aware of the existence of a will. I don't mean to be harsh, but if there is a will that bequeaths assets to you and you do not kno...
by mptfan
Tue May 17, 2016 9:33 am
Forum: Personal Finance (Not Investing)
Topic: Is it common for a step mother to inherit everything?
Replies: 105
Views: 7658

Re: Is it common for a step mother to inherit everything?

If there was a will and it was probated, it should be on file and available for inspection at the appropriate government agency. What if there was a will but it was not probated? Maybe there was a will, but if the will was in the physical possession and control of the wife when the father passed aw...
by mptfan
Sat May 14, 2016 4:39 pm
Forum: Investing - Help with Personal Investments
Topic: Where do you stand on the age old debates?
Replies: 19
Views: 1925

Re: Where do you stand on the age old debates?

reriodan wrote:I believe some work is important for a healthy enjoyable life. It doesn't have to be working for someone else or anything to make money. Just some kind of work so that you are accomplishing something productive and not sitting around watching TV all day.

Those are not the only choices.
by mptfan
Fri May 13, 2016 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Question about Social Security Estimates
Replies: 5
Views: 381

Re: Question about Social Security Estimates

LuigiLikesPizza wrote:Earnings above the cap do not accrue any additional benefit.

Are you referring to earnings above $118,500? thanks

Yes.

https://www.ssa.gov/oact/cola/cbb.html
by mptfan
Fri May 13, 2016 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Fixing Past Investment Blunder
Replies: 11
Views: 957

Re: Fixing Past Investment Blunder

Thanks for pointing out the Behavioral Pitfalls on wiki, I wasn't aware of that. But isn't anchoring really staying the course?? No, it is not. Anchoring is the tendency to cling to a previously bad investment decision in the hopes that it will "come back," despite the fact that your prev...
by mptfan
Fri May 13, 2016 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Retire Early -or- Not At All
Replies: 31
Views: 3436

Re: Retire Early -or- Not At All

I went on my own now as a solo physician and love it. I doubt I will ever retire. I will likely cut down when I hit my "Number" and just work whenever I want. One day this week, 4 days that week, 2 days that week, Be off a couple weeks here and there, etc... Out of curiosity, how would th...
by mptfan
Thu May 12, 2016 1:23 pm
Forum: Personal Consumer Issues
Topic: When is cash better than plastic?
Replies: 74
Views: 6588

Re: When is cash better than plastic?

Although, from a certain perspective, in most cases they actually don't pay the merchant fee even when you use a credit card. Credit card transaction fees are a cost of doing business and are (or at least should be) built into the price. So it's really the customer that pays the merchant fee. When ...
by mptfan
Thu May 12, 2016 6:15 am
Forum: Investing - Help with Personal Investments
Topic: Social Security numbers right ?
Replies: 23
Views: 3798

Re: Social Security numbers right ?

Any attempt to calculate benefits before the actual application for benefits and true complete calculation can only be an estimate. It is based off of your Average Indexed Monthly Earnings (AIME). As TX_TURTLE said this is your 35 years of CPI-W adjusted earnings divided by 420 (35 * 12). This is a...
by mptfan
Wed May 11, 2016 10:39 am
Forum: Personal Consumer Issues
Topic: When is cash better than plastic?
Replies: 74
Views: 6588

When is cash better than plastic?

There is another thread about how much cash people carry in their wallets... and that got me thinking about situations when it is better to have physical cash currency as opposed to credit cards or debit cards, and I wanted to start a separate thread on that topic. To be clear, I am not advocating u...
by mptfan
Wed May 11, 2016 10:12 am
Forum: Personal Consumer Issues
Topic: how much cash do you carry in your wallet?
Replies: 152
Views: 13829

Re: how much cash do you carry in your wallet?

Between $0 and $300 depending on how recently I went to the ATM. The average is closer to $0 than $300 because when I get low on cash I tend to use my credit card more and stretch out the time before I have to go to the ATM to get more cash, and there are times when I run out of cash and I stretch o...
by mptfan
Wed May 11, 2016 6:29 am
Forum: Personal Finance (Not Investing)
Topic: New house or Early Retirement?
Replies: 22
Views: 2687

Re: New house or Early Retirement?

Knowing this situation, which path would you choose? 1- Stay in the current house--face some diminishing value based on how the neighborhood developed...but be in a much better financial situation in 10-12 years. This. It would not be a close call for me, there is no house that would cause me to de...
by mptfan
Fri May 06, 2016 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Do you check credit card statements?
Replies: 79
Views: 4264

Re: Do you check credit card statements?

We have more than 20 credit cards. :shock: I have two credit cards. I would like to only have one, but I feel the need to have two because my primary card is an American Express card and there are some places that do not take amex, and it is good to have a backup card in case there a computer probl...
by mptfan
Fri May 06, 2016 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Let's talk banking
Replies: 39
Views: 4444

Re: Let's talk banking

I recently switched to Schwab Bank and I love it, I can't say enough good things about it.

viewtopic.php?f=2&t=189717
by mptfan
Thu May 05, 2016 2:30 pm
Forum: Investing - Theory, News & General
Topic: bond fund yield variation and the case for long-term fund
Replies: 19
Views: 2006

Re: bond fund yield variation and the case for long-term fund

anpaul147 wrote:So if someone is invested for the very long term and only interested in the yield should one choose a long-term bund fund ?

Yes.
by mptfan
Thu May 05, 2016 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: denied Schwab overdraft credit line and trying to understand why
Replies: 30
Views: 3119

Re: denied Schwab overdraft credit line and trying to understand why

1. The Equifax rep explicitly told me over the phone that when you are denied credit because of an Equifax report and request access to it via the FCRA, they will give you the report, but will only send it by mail. He was able to verify my identity over the phone and said the report was available o...
by mptfan
Thu May 05, 2016 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: I'm now debt free and...
Replies: 37
Views: 4768

Re: I'm now debt free and...

LibertyLover wrote:Many people consider debt free to include debt free except the mortgage.

It's true that many people think that way, but you will find that most Bogleheads are not among them. Debt free means debt free.
by mptfan
Thu May 05, 2016 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: denied Schwab overdraft credit line and trying to understand why
Replies: 30
Views: 3119

Re: denied Schwab overdraft credit line and trying to understand why

I've requested a copy of my Equifax report and it will be coming in the mail, which is apparently the only way they will send it for free (yes, annoying). This is not true. You can get a free copy of your credit report from each of the three credit reporting agencies each year from http://www.annua...
by mptfan
Wed May 04, 2016 10:12 am
Forum: Investing - Help with Personal Investments
Topic: Do you get more SS if you wait, but do not work?
Replies: 20
Views: 3234

Re: Do you get more SS if you wait, but do not work?

It's so easy for him to find the exact (estimated) numbers. Go to SSA.gov and create an account. He can review his work history and see the estimates of what he'll receive monthly at age 62, FRA, and age 70. :) That estimate assumes the person is working right up to the year they retire- the estima...
by mptfan
Wed May 04, 2016 10:02 am
Forum: Investing - Theory, News & General
Topic: Do bond funds have a tendency to revert to par value?
Replies: 12
Views: 1143

Re: Do bond funds have a tendency to revert to par value?

Grabiner, thanks for your explanation regarding a bond fund offsetting capital gains, that is helpful. Falling rates within a bond fund are more common than rising rates. Can you explain why this is true? Also, can you explain why it is true that "if rates are stable, the yield on a bond still ...
by mptfan
Tue May 03, 2016 3:50 pm
Forum: Investing - Theory, News & General
Topic: Do bond funds have a tendency to revert to par value?
Replies: 12
Views: 1143

Do bond funds have a tendency to revert to par value?

I know that investment grade bonds have a tendency to revert to par value over time, as the bond approaches its maturity date... How Does a Bond's Price Change as it Approaches its Maturity Date? As a bond moves closer to its maturity date, its price will move closer to par. The break down on the th...
by mptfan
Sat Apr 30, 2016 4:05 pm
Forum: Personal Consumer Issues
Topic: Netflix, Your Current Favorite Show
Replies: 185
Views: 16576

Re: Netflix, Your Current Favorite Show

Turn.
by mptfan
Sat Apr 30, 2016 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: How do I gift stock to spouse (in a way the IRS honors)?
Replies: 5
Views: 514

Re: How do I gift stock to spouse (in a way the IRS honors)?

I do not think that your wife can claim the losses even if you gift the stock to her because her cost basis for determining a loss is determined by the fair market value of the stock on the date that the stock is transferred to her. You cannot give away your losses. http://fairmark.com/investment-ta...
by mptfan
Thu Apr 28, 2016 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Are females just not interested in investing in general or is it just the women that I date?
Replies: 89
Views: 9770

Re: Are females just not interested in investing in general or is it just the women that I date?

I think there are two separate issues being conflated here. The first is the mechanics of personal finance and investing, and the second is frugality. Someone can be very frugal and not be good at the mechanics of personal finance and investing (think little old lady who keeps her money in cash unde...
by mptfan
Tue Apr 26, 2016 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Missed Payment Impact on Credit Score
Replies: 12
Views: 1162

Re: Missed Payment Impact on Credit Score

22twain wrote:With a credit card, does the late-payment clock start ticking on the billing date or at the end of the grace period?


Neither, it starts on the payment due date.
by mptfan
Mon Apr 25, 2016 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Missed Payment Impact on Credit Score
Replies: 12
Views: 1162

Re: Missed Payment Impact on Credit Score

From my experience a missed payment is a big deal, score went from around 780-800 to 730-740 overnight! :annoyed So once upon a time I fell for the "10% off if you get our card today!" offer at a prominent department store. I saved $150 so I thought it was worth it. Paid the full balance ...
by mptfan
Mon Apr 25, 2016 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Missed Payment Impact on Credit Score
Replies: 12
Views: 1162

Re: Missed Payment Impact on Credit Score

jharkin wrote:The actual credit report only shows payments over 60 days late, so I don't thing they report a single one month miss.

I don't think this is accurate. Some creditors report payments that are more than 30 days late.
by mptfan
Sun Apr 24, 2016 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 333
Views: 54110

Re: Anyone regret paying off mortgage early?

Not to get in a long protracted debate but even if you buy a house you have property taxes and upkeep which he classifies as debt, he classifies food as debt, also utilities as debt. As for insurance it is essentially prepay by definition. He also said rent is debt and if I remember you pay for tha...
by mptfan
Sun Apr 24, 2016 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Anyone regret paying off mortgage early?
Replies: 333
Views: 54110

Re: Anyone regret paying off mortgage early?

As others have mentioned, property taxes/insurance are carrying or operational costs. Also, there is no interest inherent in those charges although in my area depending on your perspective one can either get a discount by paying early or pay a penalty by paying late, ie the property tax is X in Nov...
by mptfan
Fri Apr 22, 2016 1:23 pm
Forum: Personal Consumer Issues
Topic: Pop up ads driving me nuts! Please help
Replies: 33
Views: 2424

Re: Pop up ads driving me nuts! Please help

I didn't suggest that you dump your PC, I suggested that you try a chromebook.
by mptfan
Fri Apr 22, 2016 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab Checking + Brokerage Account
Replies: 36
Views: 3593

Re: Charles Schwab Checking + Brokerage Account

I've had this gripe for so long that I never really pursued alternative means for accomplishing the same end, which is avoiding hassle with theft of my debit card. I called in 2009, Schwab said debit card only, I gave up. It just never occurred to me to pursue this option, though now reading what y...
by mptfan
Fri Apr 22, 2016 12:57 pm
Forum: Personal Consumer Issues
Topic: Pop up ads driving me nuts! Please help
Replies: 33
Views: 2424

Re: Pop up ads driving me nuts! Please help

Get a chromebook if you want to make your life easier. :thumbsup Seriously. Look into it. I've been using a chromebook as my primary computer at home for more than a year now, and I love it. When I look back and think about all the frustrations of dealing with Microsoft Windows and pop ups and viru...
by mptfan
Fri Apr 22, 2016 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab Checking + Brokerage Account
Replies: 36
Views: 3593

Re: Charles Schwab Checking + Brokerage Account

I use Schwab for my checking and have for most of my tenure left the brokerage account unfunded. My biggest complaint is they will not provide you with an ATM-only card. Only a true debit card. This irritates me to no end, but because their overall package is still top notch and better than all oth...
by mptfan
Fri Apr 22, 2016 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab Checking + Brokerage Account
Replies: 36
Views: 3593

Re: Charles Schwab Checking + Brokerage Account

I use Schwab for my checking and have for most of my tenure left the brokerage account unfunded. My biggest complaint is they will not provide you with an ATM-only card. Only a true debit card. This irritates me to no end, but because their overall package is still top notch and better than all oth...
by mptfan
Fri Apr 22, 2016 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Charles Schwab Checking + Brokerage Account
Replies: 36
Views: 3593

Re: Charles Schwab Checking + Brokerage Account

For those who want an ATM card only, why is that? Why limit your flexibility? If your credit card is lost or declined, it is nice to be able to use a debit card in a pinch. Sure, if it is stolen (like mine was) someone can go on a spending spree (as they did with mine) but that can happen with a cr...

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