Search found 102 matches

by s0me0nesmind1
Wed May 24, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to calculate tax benefit of owning a home
Replies: 28
Views: 1444

Re: How to calculate tax benefit of owning a home

Depends on a number of a factors. 1) If you're itemizing you will also get a deduction on state income taxes or state sales taxes. That's a decent chunk you can add on. 2) It doesn't just depend on if you are HCOL, but also what state you live. If you live in a state with high property taxes, obviou...
by s0me0nesmind1
Mon May 22, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Dependent Care Flex Spending - Use to Pay MIL?
Replies: 2
Views: 435

Re: Dependent Care Flex Spending - Use to Pay MIL?

The FSA vendor will normally require the SSN or EIN of the provider. As long as you provide that they would pay claim. The assumption then is that the IRS can follow to make sure income is reported on the provider side. Someone else can provide info regarding employee/self employed/contractor impli...
by s0me0nesmind1
Mon May 22, 2017 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?
Replies: 8
Views: 1139

Re: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?

Calculating how much life insurance you need requires some time. You have to project your expected consumption over your working lifetime, deduct your current assets and insure to close the gap. You do the same for your wife. Take into account the full costs of raising your current child and consid...
by s0me0nesmind1
Mon May 22, 2017 11:53 am
Forum: Personal Finance (Not Investing)
Topic: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?
Replies: 8
Views: 1139

Re: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?

Congratulations on becoming a father! - Can the insurance through your employer for your spouse be increased beyond 25,000? That's awful low. I'd shoot for at least 250,000. - Get at least a thirty year level premium term insurance for both yourself and your wife outside of your employer. Do it soo...
by s0me0nesmind1
Mon May 22, 2017 11:30 am
Forum: Personal Finance (Not Investing)
Topic: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?
Replies: 8
Views: 1139

Re: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?

Sorry for taking so long to reply, I've been super busy lately. First, welcome to the new little one. I hope Mom is doing well, too. A general question about the life insurance especially, but this is worth considering for any longer-term benefits: Will you be able to continue if you separate from t...
by s0me0nesmind1
Tue May 16, 2017 11:05 am
Forum: Personal Consumer Issues
Topic: Tipping for restaurants where you order at the counter
Replies: 49
Views: 4440

Re: Tipping for restaurants where you order at the counter

At number 1 style, I never tip. The others I sometimes do even though I'm not sure it's justified. I do always tip when I pick up take out from a restaurant that has a dedicated take out counter like PF Changs. That's because students have told me that the servers for the take out counter are regul...
by s0me0nesmind1
Fri May 12, 2017 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?
Replies: 8
Views: 1139

Unexpected Early Delivery of Child - How best to adjust Insurance/Benefits?

Hello folks, I recently had an early landing of our dependent. I was really hoping to get some more research time in, but alas, that isn't an option. That said, the baby will be in the NICU from anywhere between 2-3 months. I'm thanking myself I went with the HDHP, because that was the easiest Max O...
by s0me0nesmind1
Fri May 12, 2017 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Geico Homeowners Ins went up 11%
Replies: 24
Views: 2254

Re: Geico Homeowners Ins went up 11%

I "switched" all my insurance to GEICO four years ago. In my homeowners insurance, I have not experienced big rate increases. I just paid my third renewal; it went up by $1/year. And each of my other two renewals went up only by @ 1%. Umbrella has been exactly the same for four years. But...
by s0me0nesmind1
Fri May 12, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Dependent Care Flex Spending - Use to Pay MIL?
Replies: 2
Views: 435

Dependent Care Flex Spending - Use to Pay MIL?

Hello folks, Recently new parents, so as I was mapping out our time off from work - vacation hours, etc... I predicted that I would need about 2 months for the remainder of the year in daycare. So I did a back of the envelope calculation that it would cost a little over ~$2,000 for November/December...
by s0me0nesmind1
Mon May 08, 2017 10:05 am
Forum: Investing - Theory, News & General
Topic: Why save so much for when you're old?
Replies: 163
Views: 18090

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

There is a very valid point in this overall question. Often times I find myself sacrificing fun on trips because I find a particular outing to have a ridiculous cost for what it is. It's also why I never book resort style vacations and opt to get a standard hotel. At the end of the day though, I fee...
by s0me0nesmind1
Tue May 02, 2017 4:35 pm
Forum: Personal Consumer Issues
Topic: HOA vs No-HOA
Replies: 53
Views: 3281

Re: HOA vs No-HOA

The problem with HOA's typically are: 1) Expenses. Much like government expenses they only seem to inflate, get bloated, and continue to expand for the same amount of work and results. 2) They don't get their priorities straight. I've received a ton of stupid flyers in the mail complaining about &qu...
by s0me0nesmind1
Thu Apr 27, 2017 12:18 pm
Forum: Investing - Theory, News & General
Topic: "I don't want to wait till I'm 59.5
Replies: 28
Views: 4359

Re: "I don't want to wait till I'm 59.5

Or whatever the applicable age is that I can access my various retirement accounts without penalty." This is one argument I have heard against maxing retirement accounts. Can someone please point me to some literature that I am sure will convince me that maxing retirement accounts first, etc. ...
by s0me0nesmind1
Wed Apr 26, 2017 5:01 pm
Forum: Personal Consumer Issues
Topic: Downgrading Comcast (with no other competition)
Replies: 36
Views: 2920

Re: Downgrading Comcast (with no other competition)

I used to call every 6 to 12 months to get locked into another contract with Comcast. Recently, their offers started to get worse and worse. Then I started looking around and saw they had more reasonable offers for "new customers only", so they weren't mentioning these to me on the phone. ...
by s0me0nesmind1
Wed Apr 26, 2017 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Pregnant - HSA vs PPO decision
Replies: 11
Views: 1029

Re: Pregnant - HSA vs PPO decision

The way I see it: HDHP - Good for the extremes, either extremely not-needed (not prescribed expensive medications that need to be taken every day), along with good and healthy and not needing to visit specialists much or often or having lots of medication, needing to get in-patient procedures, etc.....
by s0me0nesmind1
Tue Apr 18, 2017 4:49 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice - Taxable Accounts/Passive Income
Replies: 10
Views: 893

Re: Portfolio Advice - Taxable Accounts/Passive Income

Sorry but I just have to ask... if your "After Tax monthly income" is $9951 ($119,412 Annually) how are you able to be within the 15% tax bracket? Especially since that is after tax income....
by s0me0nesmind1
Tue Apr 18, 2017 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Medical Complaint + Switching to HDHP for Child Birth Costs?
Replies: 26
Views: 1678

Re: Medical Complaint + Switching to HDHP for Child Birth Costs?

Update to this story (And a Request for more advice on best way to proceed): I recently received another statement from the IVF Laboratory with the same bill as previous. It's funny, they aren't trying too hard to hide the fact that they are affiliated companies, because they sent the bill for the l...
by s0me0nesmind1
Thu Apr 06, 2017 2:36 pm
Forum: Investing - Help with Personal Investments
Topic: Question on My 401K's Lack of Dividends
Replies: 7
Views: 459

Re: Question on My 401K's Lack of Dividends

You have it right. If you look at a fund in one of your other accounts that paid a dividend, did the total value of your assets actually go up when the dividend was paid? If you had an equity fund probably not. Example: $100 in equity fund that paid $2 dividend. Old shares worth now $98 plus $2 wor...
by s0me0nesmind1
Thu Apr 06, 2017 2:24 pm
Forum: Investing - Help with Personal Investments
Topic: Question on My 401K's Lack of Dividends
Replies: 7
Views: 459

Question on My 401K's Lack of Dividends

Hello Folks - I have a quick question - I noticed at the end of each years I would usually get entries in my retirement accounts, obviously Dividends/Interest being the likely case. I saw it across my IRA's, and my Spouse's 401k. But for some reason, my employer 401k had nothing. So I tried to do so...
by s0me0nesmind1
Wed Apr 05, 2017 2:06 pm
Forum: Personal Consumer Issues
Topic: Buying expensive car, how to keep payments low?
Replies: 149
Views: 8851

Re: Buying expensive car, how to keep payments low?

"I have enough money to buy everything, because I don't buy everything"
by s0me0nesmind1
Fri Mar 24, 2017 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Contribute to HSA after Dropping HDHP Coverage?
Replies: 4
Views: 452

Re: Contribute to HSA after Dropping HDHP Coverage?

A quick google is telling me yes - but this is nothing official from the IRS.

https://ttlc.intuit.com/questions/35874 ... 7-april-15
by s0me0nesmind1
Fri Mar 24, 2017 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to minimize increases for apartment rent?
Replies: 18
Views: 1511

Re: How to minimize increases for apartment rent?

Hello all. Today I spoke to my landlord about changes in my monthly rent should I decide to renew my lease in July. The higher-end estimate she gave me was an increase of $45 per month. I've been living in this apartment for the last 5.5 years and prior increases have been about $20 per month. For ...
by s0me0nesmind1
Thu Mar 23, 2017 11:26 am
Forum: Personal Finance (Not Investing)
Topic: How did graduating out of daycare impact your finances?
Replies: 80
Views: 6821

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

If you have to buy it after-school care isn't cheap either. My thoughts as well. A lot of kids get out ~3:00 - 5:00... that will never line up with my working life. Though it may work for my DW some weeks but not all weeks. Either way I think I'm screwed and will have to do after school care. I lon...
by s0me0nesmind1
Wed Mar 22, 2017 3:08 pm
Forum: Investing - Help with Personal Investments
Topic: Maxed out 401ks and Roth IRA. Now what?
Replies: 25
Views: 1721

Re: Maxed out 401ks and Roth IRA. Now what?

Since the mortgage is at 4.125%, I would take that $150k, subtract $25k (or so) to leave behind as your Emergency Fund, and then send $125k to your mortgage. That or perhaps refinance to a low-rate 15-Year if you want to hang on to something. Given the current market situation, a guaranteed return ...
by s0me0nesmind1
Mon Mar 20, 2017 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Collection Agency - Are you kidding?
Replies: 33
Views: 4547

Re: Collection Agency - Are you kidding?

This happened to me once with an unpaid bill. The collection agency served papers and took me to court. I could not find my receipt that I paid and to keep them from slapping a lien of my home I paid them. It felt like extortion..... my only advice is find the receipt . I wish you better luck than ...
by s0me0nesmind1
Thu Mar 16, 2017 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: How Much in Your Emergency Fund And Is It Used?
Replies: 176
Views: 15650

Re: How Much in Your Emergency Fund And Is It Used?

Personally have ~110k in liquid cash assets scattered around different accounts. I am at a point where I'm starting to not like it - especially since interest rates have started going up but banks are not reflecting it in their Savings/CD interest rates. This is pretty much a first for me, since it'...
by s0me0nesmind1
Mon Feb 27, 2017 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: Should we pay off our mortgage?
Replies: 44
Views: 2334

Re: Should we pay off our mortgage?

Paying off your home at this point will be like buying a bond paying a guaranteed 2.875% interest and maturing in 11 years. There are many here who would jump on that like a pack of dogs on a three-legged cat. ... the 10-year is at 2.35% (it was at 2.6% a few weeks ago). If you can get a higher ris...
by s0me0nesmind1
Wed Feb 22, 2017 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on girlfriend debt/finances
Replies: 82
Views: 7754

Re: Need advice on girlfriend debt/finances

Thanks for all of the replies. So far I have only contributed about $300 (just in the last week) she sold an old router of mine and I gifted her an ebates check that went right towards her CC debt. I have no problem with what I did and do not regret it. Most, if not all of us, agree that more hours...
by s0me0nesmind1
Wed Feb 22, 2017 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes - What Should My Next Monetary Goals/Objectives Be?
Replies: 17
Views: 1905

Re: Life Changes - What Should My Next Monetary Goals/Objectives Be?

I would spend some time with Form 1040 and the instructions. You can learn a lot about the options for legally avoiding income tax by going through them. Are there specific tax breaks you have in mind? BTW, having a kid is certainly one of them, so you're covered there. Unless DW leaves work or mov...
by s0me0nesmind1
Wed Feb 22, 2017 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes - What Should My Next Monetary Goals/Objectives Be?
Replies: 17
Views: 1905

Re: Life Changes - What Should My Next Monetary Goals/Objectives Be?

I thought it was fairly common to have life insurance through your employer? They pay based on my salary amount, and for chipping in an extra $1 or $2 per month it will double/triple/etc... the coverage amount. Though I've been told that term-life non-group policies are overall the better option si...
by s0me0nesmind1
Wed Feb 22, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes - What Should My Next Monetary Goals/Objectives Be?
Replies: 17
Views: 1905

Re: Life Changes - What Should My Next Monetary Goals/Objectives Be?

Given your plan to move and your low rate I wouldn't be so quick to pay off the mortgage, better to direct those funds towards investments if you ask me. I also wouldn't rush into a 529 unless you'll get a state tax benefit for it. And for umbrella policy, if you decide you need it don't do it thro...
by s0me0nesmind1
Wed Feb 22, 2017 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes - What Should My Next Monetary Goals/Objectives Be?
Replies: 17
Views: 1905

Re: Life Changes - What Should My Next Monetary Goals/Objectives Be?

Check HSA options if you're looking for more tax advantaged space. Sorry, should have mentioned that already in my OP that I recently moved to a HDHP and will be maxing it out going forward. You should get life insurance ASAP, don't wait for the baby to arrive. Your wife should also get life insura...
by s0me0nesmind1
Tue Feb 21, 2017 4:10 pm
Forum: Personal Consumer Issues
Topic: Disney Cruise instead of Disney World?
Replies: 45
Views: 4521

Re: Disney Cruise instead of Disney World?

There's no chance we'd pull our son out of school for a vacation. Thank you. I can't believe that there are people that attach so little importance to their childrens' education that they would even consider this. We took our daughter to Disney World when she was five and then had to take her back ...
by s0me0nesmind1
Tue Feb 21, 2017 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes - What Should My Next Monetary Goals/Objectives Be?
Replies: 17
Views: 1905

Life Changes - What Should My Next Monetary Goals/Objectives Be?

Hey folks, I have been twiddling my thumbs a bit with some upcoming life changes that are in order. Lately I have just been putting my head down and driving forward. And overall it's paid off. But things are about to change, we have child #1 on the way. This is going to raise our expenses (especiall...
by s0me0nesmind1
Fri Feb 17, 2017 4:06 pm
Forum: Personal Consumer Issues
Topic: Convince Wife for Honda Odyssey
Replies: 48
Views: 2908

Re: Convince Wife for Honda Odyssey

This is about much more than a vehicle purchase. Let your wife get what she wants for the sake of your marital harmony. Don't be pushy. Choose your battles. She has her own, personal reasons, maybe emotional, maybe rational, or maybe it's vanity or self-image. The reason is immaterial. Give in and ...
by s0me0nesmind1
Tue Feb 14, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Please help! Father is addicted to Timeshares
Replies: 19
Views: 2670

Re: PLEASE HELP! Father is addicted to TIMESHARES

I'm not a lawyer, but is there any chance he can default on the credit card payment to pay for these? In that affect, wouldn't the bank essentially "own" the timeshare? Would filing for bankruptcy be at all helpful by chance? We are talking 5 instances of buying these 10-15k timeshares ac...
by s0me0nesmind1
Tue Feb 14, 2017 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Please help! Father is addicted to Timeshares
Replies: 19
Views: 2670

Re: PLEASE HELP! Father is addicted to TIMESHARES

My understanding with timeshares is that after you pay for the initial purchase, it becomes a worthless liability unless you actually plan on using it to the fullest extent. The 40k your dad paid is a sunk cost and likely cannot be recovered in any significant portion. At this point he should eithe...
by s0me0nesmind1
Tue Feb 14, 2017 3:01 pm
Forum: Investing - Help with Personal Investments
Topic: Max 401K and Roth IRA - Now what?
Replies: 10
Views: 599

Re: Max 401K and Roth IRA - Now what?

An HSA is the only retirement vehicle that you can take disbursements from that aren't taxed going in and aren't taxed going out (for health related costs). Over the course of 30 years after opening my HSA, because years of surprise medical expenses and having a child and such, I will be able to ta...
by s0me0nesmind1
Tue Feb 14, 2017 2:52 pm
Forum: Investing - Help with Personal Investments
Topic: Closed my Roth IRA due to political uncertainty - mistake???
Replies: 102
Views: 6429

Re: Closed my Roth IRA due to political uncertainty - mistake???

Yes, very large mistake (as many here have already stated). But let me just give you one important message that has helped keep me sane over the years: If at any time a diversified investment is going to fall and not come back up (e.g. stock market tanks, never to recover in the next couple years) t...
by s0me0nesmind1
Tue Feb 14, 2017 2:49 pm
Forum: Investing - Help with Personal Investments
Topic: Max 401K and Roth IRA - Now what?
Replies: 10
Views: 599

Re: Max 401K and Roth IRA - Now what?

An HSA is the only retirement vehicle that you can take disbursements from that aren't taxed going in and aren't taxed going out (for health related costs). Over the course of 30 years after opening my HSA, because years of surprise medical expenses and having a child and such, I will be able to tak...
by s0me0nesmind1
Tue Feb 14, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken's future direction - a cause for concern
Replies: 298
Views: 28786

Re: Quicken's future direction - a cause for concern

I prefer the Quicken data, but if you want to try to squeeze monthly fees out of me to the tune of 5-8$ you're nuts. Companies these days LOOOOVE monthly fee's as consistent dedicated income that most people are simply too lazy to cancel. I might be willing to pay 0.99 or $2.00 per month. Maybe. But...
by s0me0nesmind1
Tue Feb 14, 2017 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Please help! Father is addicted to Timeshares
Replies: 19
Views: 2670

Re: PLEASE HELP! Father is addicted to TIMESHARES

There is little you can do until he actually gets the courage to break down the costs himself. You could try to spell out the numbers for him in a very presentable fashion, but there are plenty of people that are simply close-minded on the topic of money until they realize it themselves. I've heard ...
by s0me0nesmind1
Tue Feb 07, 2017 4:57 pm
Forum: Investing - Help with Personal Investments
Topic: Child on the Way - What to do for College Financing?
Replies: 116
Views: 6709

Re: Child on the Way - What to do for College Financing?

- Don't count on Need-based aid - as others have mentioned - your income is too high. - Try to avoid strapping your kids with too many unsubsidized loans - its crazy with how much debt some students are graduating with (Need-based loans at least have no accrued interest while the kid is in school -...
by s0me0nesmind1
Tue Feb 07, 2017 4:48 pm
Forum: Investing - Help with Personal Investments
Topic: Child on the Way - What to do for College Financing?
Replies: 116
Views: 6709

Re: Child on the Way - What to do for College Financing?

Bottom line, yes, 529's are an excellent vehicle. You save money up to the limit pre-tax, then it grows tax free. When the time comes it is in a separate account that can only be used for qualified expenses. It is still your money while it is in the 529, so if the beneficiary does not go to college...
by s0me0nesmind1
Tue Feb 07, 2017 4:42 pm
Forum: Investing - Help with Personal Investments
Topic: Child on the Way - What to do for College Financing?
Replies: 116
Views: 6709

Re: Child on the Way - What to do for College Financing?

OP, 1) How old are you? 2) How old are your kids? Why do you need to save for college education? Your annual savings is 48K per year. If you keep this up for 10+ years, you have your retirement fully funded. You could pay your children's college education from your annual savings. Especially if you...
by s0me0nesmind1
Tue Feb 07, 2017 1:09 pm
Forum: Investing - Help with Personal Investments
Topic: Child on the Way - What to do for College Financing?
Replies: 116
Views: 6709

Re: Child on the Way - What to do for College Financing?

1. Sorry, but with your income, your family will not qualify for financial aid (FA). So the best way to qualify for FA is to get a much lower paying job. Or have lots more kids in college at the same time. 2. 529 plan is the way to go for your family, but continue to max out retirement plan contrib...
by s0me0nesmind1
Tue Feb 07, 2017 11:08 am
Forum: Investing - Help with Personal Investments
Topic: Child on the Way - What to do for College Financing?
Replies: 116
Views: 6709

Child on the Way - What to do for College Financing?

Hey Folks, I have a kid in the way shortly for later this year, and I'm trying to prepare as best as I can for inevitable expenses like college savings. First thing I want to emphasize is my intent: -I INTEND to have a semi decent size fund for my kid to use on College expenses such as Tuition -I DO...
by s0me0nesmind1
Fri Feb 03, 2017 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Are there really "Tax Brackets" and does it really matter if I get bumped up into the next one?
Replies: 87
Views: 8319

Re: Are there really "Tax Brackets" and does it really matter if I get bumped up into the next one?

Whether or not it's a good name, they are called tax brackets There is no discontinuity when you hit one. There is no point at which, if you earn one dollar more, you end up with ten dollars less after taxes. The idea that it could happen is a myth. I would have to say that your statement is false....
by s0me0nesmind1
Tue Jan 17, 2017 5:22 pm
Forum: Personal Consumer Issues
Topic: Credit Collection help needed
Replies: 22
Views: 1617

Re: Credit Collection help needed

As far as credit reporting, there are some "details" to look at. If this was actually sent to an outside collections agency, it probably will show on a credit report under "Collections". History there (even if paid) hurts your credit. One "trick" used by many medical p...
by s0me0nesmind1
Mon Jan 16, 2017 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Why nobody understands importance of high-deductible insurance?
Replies: 115
Views: 11131

Re: Why nobody understands importance of high-deductible insurance?

This topic seems to be shifting between discussing healthcare and discussing automobile insurance... The 2 are very different and do not correlate real well. Auto insurance is what it should be like: You can be cautious and have a smaller deductible but pay more month to month. This allows you to de...
by s0me0nesmind1
Mon Jan 16, 2017 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Is driving for uber worth it for side money?
Replies: 67
Views: 11335

Re: Is driving for uber worth it for side money?

Ask your employer for more money if you deserve more. What happens when your employer is an app? Is there another app for that? Write a letter to the employer? Call HR department? At the same time, driving is one of those few skills in life that doesn't have room for improvement. Typically if you h...

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