Search found 425 matches

by soccerrules
Thu Apr 19, 2018 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Good Dad, Bad Dad [pay for son's driving expenses (or not)]
Replies: 49
Views: 3248

Re: Good Dad, Bad Dad

I would fall on the side of not having/needing a car Freshman year. They don't need it if they live on campus, parking passes/stickers are $300+ and many times its hard to find a spot. His son will be living at home and taking a bus to school if he doesn't have a car. Thanks PJ i missed that. I cha...
by soccerrules
Thu Apr 19, 2018 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Good Dad, Bad Dad [pay for son's driving expenses (or not)]
Replies: 49
Views: 3248

Re: Good Dad, Bad Dad

I would fall on the side of not having/needing a car Freshman year. They don't need it if they live on campus, parking passes/stickers are $300+ and many times its hard to find a spot. If they find one, they may opt to leave it parked for fear of not getting a spot later, so then it sits there. Ther...
by soccerrules
Thu Apr 19, 2018 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Good Dad, Bad Dad [pay for son's driving expenses (or not)]
Replies: 49
Views: 3248

Re: Good Dad, Bad Dad

no right answer here. It is what you feel is best for your son and family. Our 3 kids got their licenses the minute they turned 16. We also covered the insurance as part of our family policy. We have provided them with older model cars for them to drive with several being hand-me-downs. They are typ...
by soccerrules
Thu Apr 19, 2018 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: IRA rollover to 401k question
Replies: 10
Views: 382

Re: IRA rollover to 401k question

If you filed a form 8606 AND your new plan accepts rollovers, you are correct. Roll the deductible portion into the plan and convert the non-deductible basis portion into a rIRA (Your basis on line 14 of your most recent 8606, assumming you have filed them all). Double check all of the rules around...
by soccerrules
Thu Apr 19, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: IRA rollover to 401k question
Replies: 10
Views: 382

Re: IRA rollover to 401k question

If you filed a form 8606 AND your new plan accepts rollovers, you are correct. Roll the deductible portion into the plan and convert the non-deductible basis portion into a rIRA (Your basis on line 14 of your most recent 8606, assumming you have filed them all). Double check all of the rules around...
by soccerrules
Thu Apr 19, 2018 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: IRA rollover to 401k question
Replies: 10
Views: 382

Re: IRA rollover to 401k question

blank post fix
by soccerrules
Thu Apr 19, 2018 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: IRA rollover to 401k question
Replies: 10
Views: 382

Re: IRA rollover to 401k question

if there is a nondeductible contribution you can roll that portion over to a rIRA. you need to separate it from the deductible portions however to move it to the 401k. I think this is going back 15-20 years ago where we contributed $2000 (his and hers) and claimed a deduction and where not eligible...
by soccerrules
Thu Apr 19, 2018 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: IRA rollover to 401k question
Replies: 10
Views: 382

IRA rollover to 401k question

I am considering rolling over my IRA to my current 401K to open up the option to do backdoor Roths. I think my FA lumped all IRA contributions and 401k roll overs together into one IRA a number of years ago. I get the Deductible IRA contributions and 401K rollovers are similarly treated as "tax-defe...
by soccerrules
Thu Apr 19, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Estimating Future College Costs
Replies: 18
Views: 1216

Re: Estimating Future College Costs

You are at least thinking about implementing a plan. That is Important. I think you do the best you can and then in 10 years you re-evaluate where you are in your savings efforts and re-adjust. I am in 6 years into funding 12 years of college- 8 of which has been/will be private and suspect the fina...
by soccerrules
Wed Apr 18, 2018 4:53 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1067

Re: 1 Year a Boglehead - Check-In/Up

2) Thought of rolling IRA's into 401k/403B = my question is with 7-8 years left -- if it really worth it ? With the conversions after 60/61 with no income-- I assume the benefit is converting tIRA to rIRA in the lowest tax bracket. But I would need other funds to live off of and leave rIRA to grow,...
by soccerrules
Wed Apr 18, 2018 4:43 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1067

Re: 1 Year a Boglehead - Check-In/Up

You may want to run the numbers on SS. "SS His - I'll project $3,000/mo at 67 (wait until 70 @ $3500)* SS Hers - $ 1500 spousal benefit of his. (did not work enough to beat $1500/mo ) " I think that you can file and suspend (until 70) at your FRA (67) while allowing you wife to file for hers (and s...
by soccerrules
Wed Apr 18, 2018 3:45 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1067

Re: 1 Year a Boglehead - Check-In/Up

2) Thought of rolling IRA's into 401k/403B = my question is with 7-8 years left -- if it really worth it ? With the conversions after 60/61 with no income-- I assume the benefit is converting tIRA to rIRA in the lowest tax bracket. But I would need other funds to live off of and leave rIRA to grow,...
by soccerrules
Wed Apr 18, 2018 2:24 pm
Forum: Personal Consumer Issues
Topic: How do you know what price to negotiate when buying a used car?
Replies: 28
Views: 1495

Re: How do you know what price to negotiate when buying a used car?

delamer wrote:
Wed Apr 18, 2018 1:50 pm
Edmunds.com is a good source of information.

I use it plus kbb.com.
This + Cars.com.
by soccerrules
Wed Apr 18, 2018 1:34 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1067

Re: 1 Year a Boglehead - Check-In/Up

Does your 100k factor in the $1500/mo mortgage payment that will be done before retiring? That's about $18,000 a year - taxes and insurance will remain and comprise, say, 1/3 of that? So you may only need more like 88k, not 100k/yr. Okin-- thanks I have accounted for not having a mortgage in retire...
by soccerrules
Wed Apr 18, 2018 1:19 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1067

Re: 1 Year a Boglehead - Check-In/Up

I'll take a stab. 1) If you have $985k of retirement funds and expect to add $45k per year for the next 7 years, you would need an average growth rate of ~ 7% to reach $2M. It could happen, but given that we are coming off a long bull market and the pundits are predicting lower returns going forwar...
by soccerrules
Wed Apr 18, 2018 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1067

Re: 1 Year a Boglehead - Check-In/Up

It looks like you are well on your way! I plugged some basic numbers into CFireSim and based solely on your $985k nest egg, $55k of SS at age 70, and eight more years of contribution at $40.9k per year (inflation adjusted) you are on track to have a nest egg of $2M in 2026. If you spend $97k per an...
by soccerrules
Wed Apr 18, 2018 11:28 am
Forum: Investing - Help with Personal Investments
Topic: what to do with a windfall$$$
Replies: 7
Views: 983

Re: what to do with a windfall$$$

Hi, new to the forum but heard good things about the users knowledge of the subject matter. Id like to get advice on what you guys would do in my particular situation. 47 and married, family of 3, will be 4 next week! have combined income around 210k. max out my 401k every year for the last 18. no ...
by soccerrules
Wed Apr 18, 2018 11:18 am
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1067

1 Year a Boglehead - Check-In/Up

So almost 12 months ago we separated from a FA and started to move toward a DIY- BH investment strategy. We sold all of the high ER funds in 2017 and early 2018 and are transitioning to a 3 fund portfolio. I have learned a lot because of this forum and appreciate everyone's collective wisdom. Here i...
by soccerrules
Wed Apr 18, 2018 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Quitting job - what to do if getting walked to the door
Replies: 101
Views: 9581

Re: Quitting job - what to do if getting walked to the door

DH has had a job offer and plans to give two weeks notice (probably today once he gets formal offer letter). However, he is going to work for a direct competitor to his present employer. He was advised by the person conducting his job interview that under these circumstances there is a strong likel...
by soccerrules
Wed Apr 18, 2018 8:17 am
Forum: Personal Finance (Not Investing)
Topic: Quitting job - what to do if getting walked to the door
Replies: 101
Views: 9581

Re: Quitting job - what to do if getting walked to the door

DH has had a job offer and plans to give two weeks notice (probably today once he gets formal offer letter). However, he is going to work for a direct competitor to his present employer. He was advised by the person conducting his job interview that under these circumstances there is a strong likel...
by soccerrules
Tue Apr 17, 2018 2:01 pm
Forum: Investing - Help with Personal Investments
Topic: Self storage facilities
Replies: 2
Views: 377

Re: Self storage facilities

I don't specifically but did visit with a couple of guys about this 10-15 years ago ( coin operated car wash stalls, self storage)- the ROI was not favorable back then, so I dropped the idea.
by soccerrules
Tue Apr 17, 2018 12:48 pm
Forum: Investing - Help with Personal Investments
Topic: Early Retirement - On the fence, need sanity check
Replies: 47
Views: 7330

Re: Early Retirement - On the fence, need sanity check

I retire this year at the same age from the Federal Govt and your retirement scenario is almost identical to mine. It appears your social security supplements ends at 62 The CD and TSP add up to 710K and you need 75K a year. here is what I would do Age 56 to 62 54K pension + 21K = 75k ( withdraw 3%...
by soccerrules
Tue Apr 17, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Overall Help w/ Budget
Replies: 15
Views: 1304

Re: Overall Help w/ Budget

short answer. Get serious about reducing your expenses as much as possible until it hurts. Throw everything at your student loan debt (ext $, summer school, bonuses). You don't want to be mid-50's paying off student loan debt-- at the same time your kids head off to college. Once you have knocked ou...
by soccerrules
Fri Apr 13, 2018 4:26 pm
Forum: Personal Consumer Issues
Topic: Best Leather Checkbook
Replies: 15
Views: 803

Re: Best Leather Checkbook

I was going to recommend Coach but they don't even sell a simple checkbook cover these days. If I had to buy one I would probably look on Amazon and make sure I could return it. I was going to say Coach as well. You might check some of the luggage places in the malls or big department stores probab...
by soccerrules
Fri Apr 13, 2018 4:23 pm
Forum: Personal Consumer Issues
Topic: Fender bender in parking lot, he said she said. What's the effect on my going to be?
Replies: 17
Views: 1353

Re: Fender bender in parking lot, he said she said. What's the effect on my going to be?

More than likely your insurance handles your claim and his insurance handles his. Unless there is video proof to show 1 driver at fault. In your case I would call my insurance and report the event and the details. I would NOT file a claim unless you want to spend the money and more than likely have ...
by soccerrules
Fri Apr 13, 2018 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Could you support family on 1 income?
Replies: 88
Views: 5602

Re: Could you support family on 1 income?

We waited 5 years to start having kids and planned to live on 1 income prior to spouse staying home with 1st born. Saved as much of the 2nd income as possible leading up to 1st retirement. 1 income for 15 years when the kids were littler. The spouse went back to work 20 hours a week / flex schedule ...
by soccerrules
Fri Apr 13, 2018 3:02 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate to ask co-worker when retiring?
Replies: 35
Views: 2232

Re: Appropriate to ask co-worker when retiring?

i think you can do it under the right circumstances. if there is a company wide gathering and an opportunity to "mingle". Make small talk and then transition into. How long have you been with the Company ? Same role ? -blah blah blah. Still enjoying the work ? Are you looking for the exit ramp after...
by soccerrules
Fri Apr 13, 2018 8:09 am
Forum: Personal Finance (Not Investing)
Topic: Will I catch up saving for retirement?
Replies: 54
Views: 4453

Re: Will I catch up saving for retirement?

gotester2000 wrote:
Fri Apr 13, 2018 12:50 am
A lot of bogleheads would like to be in your position at 34.
Amen! and I'd like to be 34 for again (i think) :shock:
by soccerrules
Thu Apr 12, 2018 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Early Retirement - On the fence, need sanity check
Replies: 47
Views: 7330

Re: Early Retirement - On the fence, need sanity check

I retire this year at the same age from the Federal Govt and your retirement scenario is almost identical to mine. It appears your social security supplements ends at 62 The CD and TSP add up to 710K and you need 75K a year. here is what I would do Age 56 to 62 54K pension + 21K = 75k ( withdraw 3%...
by soccerrules
Wed Apr 11, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Am I being unreasonable? [Send daughter to private kindergarten]
Replies: 70
Views: 3920

Re: Am I being unreasonable?

No to $20K private kindergarten. It appears you guys are involved parents and will be active in your kids learning at home. I see no real benefit to sending your child to a private school at that cost at that age. full disclosure. We sent one of our 3 kids to private school starting in middle school...
by soccerrules
Fri Apr 06, 2018 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: Help needed - Getting serious w/finances
Replies: 17
Views: 1569

Re: Help needed - Getting serious w/finances

Ill answer your questions and then maybe give a few other suggestions 1) You can roll your 401K over to your current 401K, if your new plan will allow it. You could leave it with past employer or roll over to an IRA. Others will probably comment on the funds themselves. If you are able to roll old 4...
by soccerrules
Fri Apr 06, 2018 11:52 am
Forum: Personal Finance (Not Investing)
Topic: What type of loan?
Replies: 7
Views: 352

Re: What type of loan?

Jet-
Sorry about your loss.
I would use my EF for something short term in nature.
Smitcat has good suggestions as well.

The "I need $5000 to hold me off" statement has me worried about your greater overall financial picture.
by soccerrules
Fri Apr 06, 2018 11:26 am
Forum: Forum Issues and Administration
Topic: New Board Index Topic - Retirement Planning
Replies: 51
Views: 6507

Re: More Attention To Retirees' Portfolios

Start a thread. Ask a specific question. Make your retiree portfolio part of the discussion. No one sets a policy about who can ask what. But BH is continually attracting new members so there will always be a lot of "newbie" questions by definition. +1 It is also useful for those in the accumulatio...
by soccerrules
Fri Apr 06, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Your Monthly Cost of Living
Replies: 65
Views: 6431

Re: Your Monthly Cost of Living

these threads always seem to flow to a feel of ..... "my costs are lower than yours" . Texas - 2 adults, 1 HS kid at home, 1 kid at univ. 1. Housing: $3035 (mortgage 1510, prop tax 800, Insurance 225,Utilities 500) 2. Transportation: @500 (Insurance -4 cars, Gas, registration/repairs, tolls, no loan...
by soccerrules
Wed Apr 04, 2018 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Am I Crazy to Consider Relocating 5 Months after Buying a House?
Replies: 28
Views: 3035

Re: Am I Crazy to Consider Relocating 5 Months after Buying a House?

Seems like a great opportunity, you are not crazy. I personally would not keep the house and rent it on the off chance that you might move back. I personally would not want to own a house in another state. Plus your company is pretty much going to take it off your hands if it doesn't sell. Agree wit...
by soccerrules
Wed Apr 04, 2018 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on approach to student loans
Replies: 16
Views: 948

Re: Thoughts on approach to student loans

All fair questions, emergency fund is solid. I have over 125k in the market and 200k or so in retirement accounts. Loans are around 6-7% interest, 12-15% effective tax rate oh yea pay them off now with your windfall. Avoid future debt other than maybe mortgage , save as much as you can. The emotion...
by soccerrules
Wed Apr 04, 2018 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: Laid Off/Termination/Downsizing survival strategies...
Replies: 53
Views: 5347

Re: Laid Off/Termination/Downsizing survival strategies...

sorry to hear about the job loss. It is and can be an emotional jolt. First - Relax and take a deep breath. The reality is that you appear to be in a really good position financially. Also why you built an EF, right ? I am 3-4 years younger than you but in a similar spot (low 7 fig nest egg, $90K mo...
by soccerrules
Wed Apr 04, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: medical appointments and start of new employer insurance
Replies: 14
Views: 661

Re: medical appointments and start of new employer insurance

Yes, I understand about being covered. But I am concerned with actually being in the new insurer's system soon enough as to be able to even print an ID card on May 1. The radiologist and the primary care will want all those details such as ID number, group number, etc. Anyone actually have experien...
by soccerrules
Wed Apr 04, 2018 10:12 am
Forum: Personal Finance (Not Investing)
Topic: medical appointments and start of new employer insurance
Replies: 14
Views: 661

Re: medical appointments and start of new employer insurance

am I missing something ? You go to the appointments -- they are either covered under ACA or your new employer depending on your eligibility/enrollment date at your new job ? If you receive benefits on "day 1" - then you have benefits. Your HR department can give you the info you need for the doctor ...
by soccerrules
Wed Apr 04, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Disability Insurance
Replies: 11
Views: 655

Re: Thoughts on Disability Insurance

FWIW I have never bought a disability policy for me nor my wife, (52/50). The companies that I have worked for offered employer paid LT Disability as part of Benefits, to the tune of 60% - 80% of Salary or Income to a max of X/month. I figured my EF/cash could cover the 90 day waiting period until t...
by soccerrules
Wed Apr 04, 2018 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for a good calculator for figuing out how much life insurance
Replies: 8
Views: 364

Re: Suggestions for a good calculator for figuing out how much life insurance

Calico- I replied to your post on qualification and differences in quotes. Now having more context to your situation- it seems like $250K is sufficient if you are really insuring the next 4-8 years for your daughter to be out of HS and then college, perhaps. One thing to consider. You might look at ...
by soccerrules
Wed Apr 04, 2018 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Why are some term life insurance quotes so different in price?
Replies: 6
Views: 583

Re: Why are some term life insurance quotes so different in price?

calico- I just changed my insurance about 5 months ago and went through the process/ medical exam/ blood etc. I was told that there are something like 12-14 different rating levels based on age, height/weight proportions, smoker/non, work (stress), activities, family history, blood work, vitals etc ...
by soccerrules
Wed Apr 04, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this condo?
Replies: 37
Views: 2511

Re: Can I afford this condo?

Write! I would put a picture of this Condo in your Kitchen and then I would sit down with your spouse and cut your expenses to the bone. I would look for any way to get out of all the debt, namely CC, Student Loans, Car and Heloc. (start with highest interest rate first). I think if most people trie...
by soccerrules
Tue Apr 03, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford a house of 600-700k?
Replies: 56
Views: 4051

Re: Can we afford a house of 600-700k?

I'm leaning heavily toward no you can't afford the house. Without knowing more about your spending, I'd hate to see your awesome retirement savings rate decline, which it certainly would have to. I sympathize with your "cons" of your current house, but how long have y'all been looking for a new hom...
by soccerrules
Tue Apr 03, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Question [spousal benefit]
Replies: 24
Views: 1136

Re: Social Security Question [spousal benefit]

Ok, let me make sure I understand. She can file at 67 and get her full benefit. But if I want to delay to age 70 to get the extra 24%, then I cannot get a spousal benefit prior to age 70. When I file at age 70, then my wife's benefit will get increased to 50% of my benefit. Is all of that correct? ...
by soccerrules
Tue Apr 03, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford a house of 600-700k?
Replies: 56
Views: 4051

Re: Can we afford a house of 600-700k?

a few thoughts. Your EF seems a little low for your situation and even more so when 2nd child comes and if you upgrade your house. I think you need more liquidity ($42K is not enough) We also have $26k in a taxable investment account (that I included in the retirement savings number) that we could ...
by soccerrules
Tue Apr 03, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford a house of 600-700k?
Replies: 56
Views: 4051

Re: Can we afford a house of 600-700k?

a few thoughts. Your EF seems a little low for your situation and even more so when 2nd child comes and if you upgrade your house. I think you need more liquidity ($42K is not enough) Your monthly expenses increase between $1300 - $1900/mo $850 for Day care $450-1050 new mortgage PITI If there is no...
by soccerrules
Fri Mar 30, 2018 1:38 pm
Forum: Investing - Help with Personal Investments
Topic: Inheritance for a 13 year old
Replies: 29
Views: 2142

Re: Inheritance for a 13 year old

Quick look at the school she wants to attend, price is about 85k for 4 years that includes meal plans and dorm rooms. The thought here is 80k into vanguard's total bond market in a 529. With 5-6 years until starting college you might consider 100K in the bank if 85K is the current cost. The cost of...
by soccerrules
Wed Mar 28, 2018 10:33 am
Forum: Local Chapters and Bogleheads Community
Topic: A lot of heavy hitters this morning
Replies: 244
Views: 17066

Re: A lot of heavy hitters this morning

The forum self-selects that way I think. Still, there are posts from all walks of life, and I often encounter different wrinkles that I never thought of. No matter how much you have there is someone out there with more. Only you determine how much is enough for you and the savings rate you will use...