Search found 657 matches

by nimo956
Tue Sep 19, 2017 2:53 pm
Forum: Personal Consumer Issues
Topic: Name something you had to have and now you regret purchasing it?
Replies: 275
Views: 22912

Re: Name something you had to have and now you regret purchasing it?

I spent over $10k on top quality large format photography equipment (the wooden accordion camera where you get underneath the dark cloth). I was going to be Ansel Adams, venturing off into the wilderness to capture Nature in all her beauty. The bag + hiking gear was over 40 lbs, and I nearly died ca...
by nimo956
Sat Sep 16, 2017 9:32 am
Forum: Personal Consumer Issues
Topic: What care services are available for elderly grandfather (MA)?
Replies: 11
Views: 615

What care services are available for elderly grandfather (MA)?

My grandfather is about to turn 100, and still leads a very independent life. He lives in his own home (alone) and still drives during the day doing errands around town. He is relatively healthy, with no major conditions, but my parents and I have begun to notice some troubling signs that cause us c...
by nimo956
Sat Sep 16, 2017 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Who has needed to use their umbrella insurance?
Replies: 113
Views: 13856

Re: Who has needed to use their umbrella insurance?

Let's say that you are single and make $100k, but don't have much in the way of assets outside of your 401k, IRA, and home equity (i.e. not much in taxable). Let's say you don't have umbrella insurance and are in an auto accident where you are at fault and the other party either dies or is permanent...
by nimo956
Fri Sep 15, 2017 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Advice Badly Needed---Meeting with Financial Advisor
Replies: 49
Views: 3765

Re: Advice Badly Needed---Meeting with Financial Advisor

Thanks again! This is all very helpful. I am going to look into my district's disability insurance again to see what is offered. Unfortunately they do not match for 403(b). I will be sure to put all the resources you have all shared on my reading list. You should look into getting a private policy ...
by nimo956
Fri Sep 15, 2017 12:15 pm
Forum: Investing - Help with Personal Investments
Topic: New salaries, baby on the way, getting finances in order
Replies: 9
Views: 961

Re: New salaries, baby on the way, getting finances in order

1. You are in the highest tax bracket, so you definitely want a traditional 403b vs a Roth. 2. You will have a sizable taxable account, so you probably want to break up the Target Date funds into their component parts. This is both cheaper and makes rebalancing easier. Luckily, you have great option...
by nimo956
Sun Sep 10, 2017 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Who actually buys lottery scratch offs?
Replies: 43
Views: 2706

Re: Who actually buys lottery scratch offs?

I wonder if there was ever a drawing in which the expected value of the ticket was greater than the cost of the ticket, maybe by just a cent or two. Like when those massive jackpots happen occasionally. I have never bought one and don't expect I ever will. I've done the math before, and even the la...
by nimo956
Sun Sep 10, 2017 3:20 pm
Forum: Personal Consumer Issues
Topic: How often to exercise Future Increase Option for Disability Insurance?
Replies: 3
Views: 501

How often to exercise Future Increase Option for Disability Insurance?

I have Disability Insurance through Guardian, and every year I wonder whether I should increase my coverage through the Future Increase Option (FIO)? Is it worth it to do this every year if possible? If not, how much should you wait for your income to increase before you exercise it?
by nimo956
Sun Sep 10, 2017 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Thinking about accepting new job that pays a bit less
Replies: 27
Views: 2103

Re: Thinking about accepting new job that pays a bit less

While the new job may involve less travel, how do you know it would be less stressful in terms of hours worked? What if it's okay in the beginning, but then gets more stressful/ has longer hours over time? How do you know you won't end up working just as much, with worse future prospects, for less m...
by nimo956
Mon Sep 04, 2017 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Couple in early 30s, any changes?
Replies: 28
Views: 3752

Re: Couple in early 30s, any changes?

Yes, MD couple. We have disability and malpractice insurance. What do the bogleheads think of umbrella insurance? Employer is a big corporation, so no negotiating with them. I understand how to get a backdoor Roth IRA. My main question is what is the benefit of it since you've already paid taxes on...
by nimo956
Sat Aug 19, 2017 6:48 pm
Forum: Personal Consumer Issues
Topic: Kitchen knife set. Good quality - Recommendations
Replies: 55
Views: 4394

Re: Kitchen knife set. Good quality - Recommendations

I don't think you need to spend a lot of money on a knife set. I do 90% of food prep with a cheap $10 cleaver from the Chinese supermarket. You just need to learn how to use it, treat it well, and sharpen it. For more situational uses, you could look into a paring knife and bread knife.
by nimo956
Fri Aug 18, 2017 2:28 pm
Forum: Personal Consumer Issues
Topic: Powerball - $510 million?
Replies: 64
Views: 4613

Re: Powerball - $510 million?

I have a practical question that I never see discussed. What do you have to do tax-wise after winning? Will the lottery use your prior year tax return to estimate your tax liability and then withhold that amount, or would you have to make estimated payments? What would be different on your 1040? Sid...
by nimo956
Tue Aug 08, 2017 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: [Stashing a windfall in the safest possible place while deciding what to do next]
Replies: 45
Views: 3360

Re: Stashing a windfall in the safest possible place while deciding what to do next

I think the idea to use FDIC-insured CDs is ridiculous for this amount of money. US Treasuries are as safe as any CD, so a Vanguard MM fund that invests in US Treasuries is probably the simplest and safest for her. That would be Vanguard Federal Money Market fund VMFXX which is also used as the cas...
by nimo956
Wed Aug 02, 2017 8:56 pm
Forum: Personal Consumer Issues
Topic: Question for MTB'rs. Buying a bike.
Replies: 22
Views: 1398

Re: Question for MTB'rs. Buying a bike.

Look into the company Moots
by nimo956
Fri Jul 28, 2017 10:22 am
Forum: Personal Consumer Issues
Topic: Italy in August Trip (Rome, Florence, Venice)
Replies: 43
Views: 2767

Re: Italy in August Trip (Rome, Florence, Venice)

I think you should only spend 2-3 nights in Florence and 4-5 nights in Rome. Florence isn't very big, and you can see much of the city in a few days. Rome is enormous by comparison, with lots of different neighborhoods to visit and far more sites to see. Edit: also beware of taking taxis in Rome, an...
by nimo956
Fri Jul 28, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Savings rate: gross or net?
Replies: 56
Views: 3294

Re: Savings rate: gross or net?

It should always be gross income. I use the formula Income = Savings + Expenses. I then break the %s down into the following categories in my budget: Savings- 49% Taxes- 18% Rent+Util- 13% Insurance- 3% Groceries- 3% Gas (Auto)- 1% Restaurants/Shopping- 6% Hobbies- 5% Vacation- 2% This confuses me....
by nimo956
Fri Jul 28, 2017 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Savings rate: gross or net?
Replies: 56
Views: 3294

Re: Savings rate: gross or net?

It should always be gross income. I use the formula Income = Savings + Expenses. I then break the %s down into the following categories in my budget:

Savings- 49%
Taxes- 18%
Rent+Util- 13%
Insurance- 3%
Groceries- 3%
Gas (Auto)- 1%
Restaurants/Shopping- 6%
Hobbies- 5%
Vacation- 2%
by nimo956
Fri Jul 28, 2017 7:14 am
Forum: Personal Finance (Not Investing)
Topic: GF Picking a college major
Replies: 105
Views: 5496

Re: GF Picking a college major

When you say not good in math.....are you talking calculus or math in general. Nursing has no math but does have lots of life science but it does involve interaction with people. Accounting could be good for sitting in the back room calculating but if even rudimentary math boggles her, then I guess...
by nimo956
Thu Jul 27, 2017 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Quit my 6-figure job?
Replies: 84
Views: 9065

Re: Should I Quit my 6-figure job?

Why do you assume defeat, and already accept a pay decrease in your mind? What if your new job ends up with a worse working environment in addition to less money! Or, the environment could start off good, but then deteriorate over time as there are changes in the organization. Salary is often a stic...
by nimo956
Wed Jul 26, 2017 7:01 pm
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 862

Re: Help Planning Trip to Olympic National Park

Thanks everyone for the advice. I'll cut out the Mt. Rainier stop and add that to time in Olympic NP so I'm not so rushed/exhausted from driving.
by nimo956
Wed Jul 26, 2017 11:49 am
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 862

Re: Help Planning Trip to Olympic National Park

ONP definitely has a wider variety of easy day hikes compared to NCNP. my concern with your itinerary is Forks to MRNP in one day is a long drive, will not leave you time to do or see much of the mountain. Thanks for letting me know. I was wondering about that leg of the trip. I might just scrap it...
by nimo956
Wed Jul 26, 2017 11:16 am
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 862

Re: Help Planning Trip to Olympic National Park

We're headed there in mid august. You're missing the best national park within that area...north cascades np. Puts olympic to shame. Rainier is nice but its a cluster for the most part...too accessible for people. Head to north cascades...in the middle of nowhere...less crowds...unbelievable scener...
by nimo956
Wed Jul 26, 2017 10:36 am
Forum: Personal Consumer Issues
Topic: Help Planning Trip to Olympic National Park
Replies: 18
Views: 862

Help Planning Trip to Olympic National Park

I'm planning a trip to Seattle, Olympic NP, and Mt. Rainier NP for the end of August. I've roughly outlined the itinerary, but I'd appreciate if someone could sense-check it and tell me if it's too much driving/not feasible. Days 1-2: Port Angeles area: Hurricane Ridge, Lake Crescent Days 3-4: Forks...
by nimo956
Fri Jul 21, 2017 11:12 pm
Forum: Investing - Theory, News & General
Topic: Cryptocurrencies
Replies: 45
Views: 3414

Re: Cryptocurrencies

Bitcoin is surprisingly popular in Argentina. The restrictions on capital have become so onerous that many merchants are accepting it as payment.

https://www.nytimes.com/2015/05/03/maga ... onomy.html
by nimo956
Wed Jun 14, 2017 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Would you take a 25% pay cut for more professional satisfaction?
Replies: 57
Views: 4018

Re: Would you take a 25% pay cut for more professional satisfaction?

Things like job satisfaction and culture are fickle, whereas salary is more sticky. What happens if you take the lower paying job only to realize it's not what you expected? How long would it take you to climb back to the higher salary offer (not just your current salary)?
by nimo956
Mon Jun 05, 2017 2:09 am
Forum: Personal Consumer Issues
Topic: Worth it to buy expensive clothes?
Replies: 91
Views: 9880

Worth it to buy expensive clothes?

I haven't really bought new work clothes in the last 8 years, and I've been thinking about completely overhauling my wardrobe. All of my dress shirts and pants have way too much fabric, and look baggy in general. My SO affectionately commented that I dress like I'm wearing a potato sack. I've picked...
by nimo956
Wed May 17, 2017 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: How much house? How large of a down payment? Infinite permutations are driving me batty
Replies: 36
Views: 3326

Re: How much house? How large of a down payment? Infinite permutations are driving me batty

Are you considering school quality in your house search, or are you planning on moving again when your child starts school? I've lived in both Medford and Somerville, and it's a fun, happening place for college students or young adults starting their careers. However, I don't think the public school...
by nimo956
Tue May 16, 2017 1:56 pm
Forum: Investing - Theory, News & General
Topic: I don't understand ESPPs
Replies: 2
Views: 309

I don't understand ESPPs

It seems to be a popular benefit at many companies to offer a 15% discount to employees to purchase company stock. In some cases, there are restrictions on how long you have to hold the stock before you can sell, but in other cases I've read on this forum, posters are able to sell immediately, pocke...
by nimo956
Thu May 11, 2017 10:23 am
Forum: Personal Consumer Issues
Topic: Travel tips for first time visitors to England and France?
Replies: 55
Views: 4930

Re: Travel tips for first time visitors to England and France?

For restaurants in Paris, you might want to try Ledoyen in the Champs Elysses. I think a friend of my mentioned that the chef there moved to Le Cinq some time ago, so you might want to check that out as well.
by nimo956
Sat May 06, 2017 10:12 am
Forum: Investing - Theory, News & General
Topic: Why save so much for when you're old?
Replies: 163
Views: 20297

Re: Why save so much for when you're old

I've been in my early 20's and I am now in my early 60's. Yes, there are a few things that I can't do, or are more difficult to do, now relative to 40 years ago. But that is a long way from being ready to sit in a rocking chair and crochet all day. And if the people in their 60's who you know are l...
by nimo956
Tue Apr 04, 2017 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Switching Jobs for less...Has anyone done this....
Replies: 46
Views: 4061

Re: Switching Jobs for less...Has anyone done this....

Why does everyone assume that lower salary = less stress and better work environment? I do have reservations about going back to not for profit work. It frankly makes me uneasy . I used to work for a no for profit and the grant never dried up but it always made me nervous . There is also no over tim...
by nimo956
Tue Mar 28, 2017 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Boston apartment hunting advice/can I afford a studio?
Replies: 48
Views: 4069

Re: Boston apartment hunting advice/can I afford a studio?

Bad news is that you need to live with a roommate, but the good news is that you should be able to save 50% of your gross salary! You don't want to live in Beacon Hill or Back Bay; everything in those areas is expensive and overpriced. Look along either the red, green or orange line. Red line has So...
by nimo956
Sat Mar 25, 2017 7:18 pm
Forum: Personal Consumer Issues
Topic: Adults trip in May to Zion and Bryce National Parks
Replies: 21
Views: 2456

Re: Adults trip in May to Zion and Bryce National Parks

Use this excellent guide book (not just for photogtraphy):

Photographing the Southwest: Southern Utah by Laurent Martrès

https://www.amazon.com/Photographing-So ... phing+utah
by nimo956
Mon Mar 20, 2017 12:45 am
Forum: Investing - Theory, News & General
Topic: an in depth look at gold
Replies: 91
Views: 7424

Re: an in depth look at gold

Physical gold as investment in not very good. However, if you had to flee Syria the only thing worthwhile you can carry out would be gold. Your property, stock investment and currency are probably worthless. If your currency got demonetized as in India recently, gold would have been a good alternat...
by nimo956
Fri Mar 17, 2017 6:40 am
Forum: Personal Finance (Not Investing)
Topic: conflict of interest [CFA vs. fiduciary]
Replies: 27
Views: 2420

Re: conflict of interest [CFA vs. fiduciary]

I would never rely on a toothless law to protect my money for me. Sadly, the only person who cares about the welfare my money is myself. That's why it's important that everyone take responsibility for their own retirement. This isn't like overpaying a few thousand for a car that one time. This is pe...
by nimo956
Fri Mar 10, 2017 1:51 pm
Forum: Investing - Help with Personal Investments
Topic: Payoff Student Loans Early? Requesting help.
Replies: 14
Views: 950

Re: Payoff Student Loans Early? Requesting help.

I like option 4 the best. Pay it off in full without taking any loans against your 401k and be done with it. Then build up your emergency fund back to where it was over time.
by nimo956
Tue Mar 07, 2017 1:09 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard doesn't understand Mega-Backdoor
Replies: 47
Views: 5025

Re: Vanguard doesn't understand Mega-Backdoor

I do this twice a year and Vanguard understands exactly what I want and there's never been a problem. My 401k is with Vanguard, however, so I'm talking to someone in their retirement plans department. They can see the amount of after-tax contributions and even tell me what the gain/loss is. All I sa...
by nimo956
Sun Feb 26, 2017 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: How to avoid paying penalty for getting too much of a refund?
Replies: 9
Views: 1316

Re: How to avoid paying penalty for getting too much of a refund?

Thanks everyone for the fast replies. I'll wait to see how much is actually deposited before filing a 1040X.
by nimo956
Sun Feb 26, 2017 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to avoid paying penalty for getting too much of a refund?
Replies: 9
Views: 1316

How to avoid paying penalty for getting too much of a refund?

I e-filed my federal taxes last night and almost immediately after hitting send realized that I made a mistake. I took an HSA deduction of $2650 when it should have been $0 (contributions made via payroll are considered "employer contributions" as well). As a result, my refund is $2650*0.2...
by nimo956
Mon Feb 13, 2017 11:55 am
Forum: Investing - Theory, News & General
Topic: Theory on whether to go Roth 401k
Replies: 89
Views: 7825

Re: Theory on whether to go Roth 401k

I didn't read all of the previous posts, so I'm not sure if this was mentioned. The whole point is to contribute to a Traditional 401k and then retire early. In the period from when you retire to before you begin taking SS (at 70), do Roth conversions to fill up the lower brackets. This is the tax a...
by nimo956
Wed Jan 11, 2017 1:42 pm
Forum: Investing - Theory, News & General
Topic: No debt, except for...
Replies: 7
Views: 1299

No debt, except for...

This is just a random observation, but have you ever noticed how posters asking portfolio questions use the phrase: No debt, except for $1m mortgage, 2 $40k car loans, and $100k student loans Perhaps that's exaggerated, but I wonder why people choose that phrasing rather than saying, "I have $X...
by nimo956
Sun Jan 08, 2017 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Annual Vacation Budget
Replies: 320
Views: 27883

Re: Annual Vacation Budget

I have trouble enjoying vacations at times because it seems the entire travel industry is designed to separate me from my money. Some observations: 1. Travel is far more expensive for families. You have to pay for multiple airline tickets, hotel rooms, etc., and are restricted to traveling during sc...
by nimo956
Thu Jan 05, 2017 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: How to gauge quality of healthcare network?
Replies: 5
Views: 452

How to gauge quality of healthcare network?

One year ago, my company finally offered an HSA option for our medical coverage, which I took up. I did the math to figure out that the HSA nets me nearly $2k more, based on the difference in premiums and tax benefits. The problem is that I assumed the network coverage is roughly the same, but now I...
by nimo956
Thu Dec 15, 2016 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security and Medicare Tax Different for Last Paycheck
Replies: 6
Views: 772

Re: Social Security and Medicare Tax Different for Last Paycheck

Okay, I spoke to payroll and figured this out. My company allows employees to nominate each other for small bonuses (like $100 - $500) throughout the year to reward good work on projects. It turns out someone nominated me and I'll be getting an extra $155 gift card! I guess I spoiled the surprise by...
by nimo956
Thu Dec 15, 2016 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Social Security and Medicare Tax Different for Last Paycheck
Replies: 6
Views: 772

Social Security and Medicare Tax Different for Last Paycheck

I get paid twice a month. The state is MA, if that matters. Nov 15th Paycheck: Gross pay = $2,881.29 Social Security Tax = $170.83 Medicare Tax = $39.95 Nov 30th Paycheck: Gross pay = $2,881.29 Social Security Tax = $180.44 Medicare Tax = $42.20 December 15th paycheck now matches Nov 15th. Is this a...
by nimo956
Tue Dec 06, 2016 3:29 pm
Forum: Personal Consumer Issues
Topic: Learning an instrument as an adult? 8 Month Update
Replies: 164
Views: 18630

Re: Learning an instrument as an adult?

I started music lessons at 28 (am 30 now). I had grown to love classical music since graduating college, and I really wanted to learn to play an instrument. I took piano for a few years in 3rd-6th grade, but I basically had to start from the beginning again, learning to read music. I chose the class...
by nimo956
Tue Nov 29, 2016 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: How to discuss salary offer as a manager?
Replies: 29
Views: 3039

Re: How to discuss salary offer as a manager?

Indeed. I find it absurd that you wish to talk salary to the employee before the figures are first cleared by HR. You'll look extremely silly, and the employee will be totally pissed off if you talk 75k and HR then says no way. +1 on this and not just the money. You need to confirm the salary grade...
by nimo956
Mon Nov 28, 2016 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: How to discuss salary offer as a manager?
Replies: 29
Views: 3039

Re: How to discuss salary offer as a manager?

I think the $75k figure is something you can work with and be honest about. BUT you better be certain HR will support that for an internal candidate that already got a big raise recently. I've seen managers incorrectly assume they can get HR to not classify an internal move as lateral. This is a go...
by nimo956
Mon Nov 28, 2016 1:41 pm
Forum: Personal Finance (Not Investing)
Topic: How to discuss salary offer as a manager?
Replies: 29
Views: 3039

Re: How to discuss salary offer as a manager?

nimo956, 1) Can the candidate do the job? 2) Is it a good fit? 3) Can you offer much more that 75K or that is all that you can offer? 4) What is the problem with being honest and upfront with what you can offer? KlangFool 1. Yes, I know he can do the job, as he's proven himself quite capable on pro...
by nimo956
Mon Nov 28, 2016 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: How to discuss salary offer as a manager?
Replies: 29
Views: 3039

How to discuss salary offer as a manager?

I'm currently first-time manager who, as a result of a hiring freeze, doesn't have any direct reports. I've finally gotten approval to fill a position, and have been approached by an internal candidate I think would be a good fit. I need advice on how to discuss salary during the job interview proce...