Search found 1303 matches

by ubermax
Tue Jul 25, 2017 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying pension benefits - what would you do?
Replies: 21
Views: 2587

Re: Delaying pension benefits - what would you do?

If ABS delays his pension from age 65 to 66 he gives up $31,536 (12 X 2628). In exchange beginning one year later he will collect $34,836 (12 X 2903) every year instead of $31,536, an increase of $3,300. If he or his wife live 19 years this is like investing $31,536 and getting $3,300 per year for ...
by ubermax
Tue Jul 25, 2017 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 24
Views: 1770

Re: Help with Amortization Schedule with Extra Payments

But you can't get around the fact that your method (and mine in the edited part of this post ) do not produce the correct total payments and hence do not produce the correct interest paid. Of course the interest won't be the same , in one case interest is applied to a monthly declining balance and ...
by ubermax
Mon Jul 24, 2017 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying pension benefits - what would you do?
Replies: 21
Views: 2587

Re: Delaying pension benefits - what would you do?

Yes. By forsaking $31,680 (12 * 2640) for one year, you'll get $3,156 (12 * 2903 - 31680) more per year for 19 years (85 - 66). This represents a very good return of 7.4%. [1] The likely return is even higher if your wife is no older than you and you're both in average or better health. [2] I'm puz...
by ubermax
Mon Jul 24, 2017 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 24
Views: 1770

Re: Help with Amortization Schedule with Extra Payments

You arrived at the same balance and number of months, but your interest calculation Is incorrect. The total interest is really the important part. Really Jim , me thinks you should go back and re-read the OP's opening question ; the difference between a year of monthly payments versus one annual pa...
by ubermax
Sun Jul 23, 2017 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 24
Views: 1770

Re: Help with Amortization Schedule with Extra Payments

Well I got the same outstanding balance after month 168 as you did and using two different approaches - by your premise I should be way off after 168 months , how to you explain that ? - but anyway thanks for the feedback Jim, I'll take another look at it - always open to a peer review .
by ubermax
Sun Jul 23, 2017 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 24
Views: 1770

Re: Help with Amortization Schedule with Extra Payments

HERE !! The attached spreadsheet shows a more closed form of the solution that I presented yesterday in a table format similar to the one made available by Atlanta Jim in his Google Sheets link ; I think the above spreadsheet is as condensed as the other solution which utilizes many "head spin...
by ubermax
Sat Jul 22, 2017 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: Help with Amortization Schedule with Extra Payments
Replies: 24
Views: 1770

Re: Help with Amortization Schedule with Extra Payments

I also came up with a little more than 168 months - would be curious how the OP derived his answer - I like my method better than the one used by the other responder for the following reasons : (a) It uses Excel and basic present value math as it applies to annuity type cash flows . (b) It doesn't ...
by ubermax
Thu Jul 20, 2017 2:09 pm
Forum: Personal Consumer Issues
Topic: Any car top bike carriers that are easy to load?
Replies: 3
Views: 386

Re: Any car top bike carriers that are easy to load?

CULater , here are a few other thoughts/considerations : (a) Your lifting strength given a bad arm - I've already touched on that . (b) The rough distance from ground to the top of the vehicle's load bar. (c) Do you want a fork mount ( requires removing the front wheel ) or a full bike mount ( slig...
by ubermax
Wed Jul 19, 2017 1:18 pm
Forum: Personal Consumer Issues
Topic: Essential Bike (bicycle) Accessories
Replies: 71
Views: 3266

Re: Essential Bike (bicycle) Accessories

Online retailer Excel sports has a big sale going on now for parts and accessories .
by ubermax
Wed Jul 19, 2017 1:02 pm
Forum: Personal Consumer Issues
Topic: Any car top bike carriers that are easy to load?
Replies: 3
Views: 386

Re: Any car top bike carriers that are easy to load?

I have the Thule Paceline roof mounted rack which I love but this year is the first time that I think I'm agreeing with my DW that I should give some serious thought to getting a hitch for our SUV and a Thule hitch rack ; I had a great technique for getting the bike up top - left hand on front fork...
by ubermax
Mon Jul 17, 2017 1:24 pm
Forum: Personal Consumer Issues
Topic: Essential Bike (bicycle) Accessories
Replies: 71
Views: 3266

Re: Essential Bike (bicycle) Accessories

https://www.cyclingforums.com/
http://www.bikeforums.net/

Great responses and I'd also recommend establishing a username/password for the above forums - very knowledgeable members on each and the sub-forums cover many different topics .
by ubermax
Mon Jul 17, 2017 1:08 pm
Forum: Personal Consumer Issues
Topic: How did you handle the costs of your child's wedding?
Replies: 170
Views: 11984

Re: How did you handle the costs of your child's wedding?

DW had a part-time job as an on-call nurse for a local private prep school - over several years she managed to bank enough to provide a very nice wedding/reception for our daughter .
by ubermax
Mon Jul 17, 2017 8:58 am
Forum: Personal Consumer Issues
Topic: Las Vegas Trip
Replies: 7
Views: 1175

Re: Las Vegas Trip

Cartman , to get more input I'd suggest searching this forum on keyword Las Vegas , I recall this topic coming up before and at least one of the posts received many comments.
by ubermax
Sun Jul 16, 2017 4:11 pm
Forum: Personal Consumer Issues
Topic: how to destroy hard disk with personal info
Replies: 99
Views: 7273

Re: how to destroy hard disk with personal info

Here's what I've done -----I put them in a plastic bag and (1) take a sledge hammer to them and then (2) put them in household garbage at our local dump and from there they get hauled to an incinerator .
by ubermax
Sun Jul 16, 2017 4:03 pm
Forum: Personal Consumer Issues
Topic: Las Vegas Trip
Replies: 7
Views: 1175

Re: Las Vegas Trip

We spent 3 nights at the Wyndham Grand Resort in Vegas last summer. It is a beautiful property. We had a 2 bedroom condo for about $600 total for 3 nights. There were adult and family pools, which made it nice! This sounds like a good option , also the JW Marriott is very nice out on N.Rampart - ou...
by ubermax
Wed Jul 12, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Payout
Replies: 24
Views: 3021

Re: Pension Payout

Back in April #Cruncher used the Odds of Being Alive Spreadsheet to projected my PV value and found that the highest PV was for 100% J%S, using SSA 2013 mortality and 4% interest rate. The odds of being alive spreadsheet accounts for longevity difference between males and females (several years mor...
by ubermax
Tue Jul 11, 2017 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Payout
Replies: 24
Views: 3021

Re: Pension Payout

I am not sure why they're not equivalent in my situation. I suspect that several factors influenced my result. My employer might be using older mortality tables, unisex mortality tables, same age for beneficiary, different interest rates and added benefit to spousal survivalship. The company is sel...
by ubermax
Sun Jul 09, 2017 12:14 pm
Forum: Personal Finance (Not Investing)
Topic: How does fixed pension affect your target net worth?
Replies: 8
Views: 1130

Re: How does fixed pension affect your target net worth?

Now the inflows to our budget are SS, small pension, and RMDs - I forecast taxes , (Fed + State) every year and fund that bill as an item in the budget - unpredictable or even known large expenses that throw us over budget can be a killer on taxes if we pull from our tIRAs rather than taxable , i.e...
by ubermax
Sun Jul 09, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: How does fixed pension affect your target net worth?
Replies: 8
Views: 1130

Re: How does fixed pension affect your target net worth?

I didn't use any rules of thumb or multiples in our retirement financial planning - as retirement approached I estimated a reasonable monthly budget based on our expenses and then netted out anticipated SS and pension(cola'd) to arrive at a monthly asset draw - I put this all on a spreadsheet and p...
by ubermax
Sun Jul 09, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Anybody retired and relocated + bought a new house?
Replies: 26
Views: 2535

Re: Anybody retired and relocated + bought a new house?

For example, what are some issues with qualifying for a new mortgage if I am retired with no income but had high credit score through the prior year when I was employed. How about (a) pay cash , you'll presumably get most back when you sell or (b) retire at the earliest SS age and put down enough s...
by ubermax
Sun Jul 09, 2017 9:30 am
Forum: Personal Finance (Not Investing)
Topic: Pension Payout
Replies: 24
Views: 3021

Re: Pension Payout

Also if the PV 100% J&S and 75% J&S were equivalent, I would have been leaning toward the 75% J&S. 2Pedals, the PV's of those two optional forms are equal ; here's how it works - the Life Annuity at normal retirement age is reduced to the early retirement age by a factor that is more fa...
by ubermax
Sat Jul 08, 2017 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Payout
Replies: 24
Views: 3021

Re: Pension Payout

Also if the PV 100% J&S and 75% J&S were equivalent, I would have been leaning toward the 75% J&S. 2Pedals, the PV's of those two optional forms are equal ; here's how it works - the Life Annuity at normal retirement age is reduced to the early retirement age by a factor that is more fa...
by ubermax
Sat Jul 08, 2017 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Pension Payout
Replies: 24
Views: 3021

Re: Pension Payout

Kobbie , I assumed your ages are 66,68 and made the Life Annuity $1000/mo. ; using a current mortality table and 4% I got the following for the actuarial equivalent J&S options : 100% = 777 , 75%=823 and 50% = 874 - if you die first , your wife would get 777, 617, 437 respectively - this illust...
by ubermax
Fri Jul 07, 2017 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Pension Payout
Replies: 24
Views: 3021

Re: Pension Payout

I was in a similar position 6 years ago when I retired at age 66. My wife is 2 years older and in much poorer health. I had option of no survivor, 50% or 100% survivor options. I chose the 50% option, mainly because that level of income plus SS would provide a very adequate income for my wife plus ...
by ubermax
Tue Jul 04, 2017 2:59 pm
Forum: Personal Consumer Issues
Topic: Thinking of moving from MA to RI
Replies: 19
Views: 2184

Re: Thinking of moving from MA to RI

I think at this point we have identified at least 3 areas of concern : 1) house prices 2) commute and 3) school systems ; personally I think you could satisfy all three in RI , a trifecta whereas in MA you could also satisfy all three but with some tradeoffs . And talking about intangibles , the Ne...
by ubermax
Mon Jul 03, 2017 1:24 pm
Forum: Personal Consumer Issues
Topic: Thinking of moving from MA to RI
Replies: 19
Views: 2184

Re: Thinking of moving from MA to RI

Like "Hug401k" I too grew up in RI and I think the possibility of being close to both job and coastal beaches is a big plus ; if I were to pick one town that checks off many boxes it would be Barrington - not my hometown but it gets my vote - a 15 minute drive to Providence , 30 minutes t...
by ubermax
Sun Jul 02, 2017 10:11 am
Forum: Personal Consumer Issues
Topic: Thinking of moving from MA to RI
Replies: 19
Views: 2184

Re: Thinking of moving from MA to RI

Another consideration is jobs - if you both work and one job is solid but the other is shaky , then that opens up a whole additional discussion
by ubermax
Sun Jul 02, 2017 10:03 am
Forum: Personal Consumer Issues
Topic: Thinking of moving from MA to RI
Replies: 19
Views: 2184

Re: Thinking of moving from MA to RI

for financial reasons but in addition to cost, MA outranks RI in almost every aspect. I think I know where you're coming from but I would have phrased it differently ; anyway I'm from RI , went to college in MA , our daughter, SIL, and a couple grandchildren live inside 95(AKA 128) , and DW and I n...
by ubermax
Sat Jul 01, 2017 1:50 pm
Forum: Investing - Help with Personal Investments
Topic: Quit my Job-What to do with Pension?
Replies: 10
Views: 1018

Re: Quit my Job-What to do with Pension?

Using the current IRS mortality table for lump sums and their rates from 8/16 to 5/17 , I get a range of lump sums from 48-61 grand ; 70K is too big of a deviation - all based on AA=35 and RA=65 ; ask your former employer , i.e. probably HR , what mo/yr was used for the interest rates underlying th...
by ubermax
Sat Jul 01, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Incorporating uncertain pension amount into net worth calculation
Replies: 35
Views: 2077

Re: Incorporating uncertain pension amount into net worth calculation

As I neared retirement a few years ago my focus was on determining an initial budget and at that time I knew the amount of a small pension in the future along with Social Security (SS) ( DW and myself) - and then knowing the total target budget and those amounts I backed into a savings draw - a sit...
by ubermax
Thu Jun 29, 2017 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Annuity VS cash
Replies: 16
Views: 1338

Re: Annuity VS cash

The first thing I wanted to check was the reasonableness of the 44 grand at 55 given the 420/mo. life annuity at 65 - looking at a few of the IRS lump sum rates this year and late last year , I came up with a range from 40-45 grand , OP is right in there at the upper end ; doing a few quick calcula...
by ubermax
Sat Jun 24, 2017 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: low cost one person DB plan
Replies: 32
Views: 2743

Re: low cost one person DB plan

I contacted ASPPA. They would not share any list of accredited members until i become an affiliate member ($525). Wondering if you have any other resources. PM Ellie , possibly her actuary is near you ; or maybe they have a national presence and have an office relatively close to you - at any rate ...
by ubermax
Thu Jun 22, 2017 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Income Tax Calculation?
Replies: 18
Views: 1787

Re: Income Tax Calculation?

I think Cruncher and FiveK have done a good job dissecting the question in the original post ; after finishing our taxes for 2016 and completing the first year of double RMDs , I wanted to see the tax impact ( Federal + State) of prospectively taking additional withdrawals from our tIRA accounts in...
by ubermax
Mon Jun 12, 2017 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford a 800k house in HCOL area (Boston area) ?
Replies: 42
Views: 4393

Re: Can we afford a 800k house in HCOL area (Boston area) ?

Panchilly , I recall you asking essentially the same question not too long ago - it seems to me that you have enough information without suggestions from this forum to answer your own question - I mean you know your take home pay as well as existing expenses and can easily factor in a new mortgage ...
by ubermax
Fri Jun 09, 2017 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: question about Social Security indexing
Replies: 4
Views: 711

Re: question about Social Security indexing

Up until age 60 the calculation is indexed not to inflation, but to overall wage growth . From 62 it's indexed to CPI-W . The reason for the gap is the wage index isn't known until well into the following year. At 62 your earning record is calculated based on the wage index from when you were 60. F...
by ubermax
Tue Jun 06, 2017 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: laptop advice
Replies: 20
Views: 1259

Re: laptop advice

I found this at BestBuy Lenovo - 15.6" Laptop - Intel Core i3 - 6GB Memory - 1TB Hard Drive - Ebony black. I don't know what 6GB or 1TB mean. So, this is not SSD hard drive. right? All the responses so far have been great - have had my current Lenovo for 8 years and will probably buy another o...
by ubermax
Thu Jun 01, 2017 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have a bucket to pay your mortgage or pay from core?
Replies: 36
Views: 2488

Re: Do you have a bucket to pay your mortgage or pay from core?

We have four inflows per month and they flow first into a savings account at our local bank and then into buckets on a budget spreadsheet and near the end of each month DW pours enough out of the mortgage bucket to cover that expense as well as others , all expenses are paid by either electronic fu...
by ubermax
Wed May 31, 2017 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Senility: How do you plan on protecting your money when you lose your mental capacities?
Replies: 72
Views: 6025

Re: Senility and Seductresses: How do you plan on protecting your money when you lose your mental capacities?

My question: what strategies have you thought of or do you have in place to protect your assets from your loss of mental capacity? I think this is a very real concern but I think another real concern that is maybe less ominous is the circumstance with couples where each person has become the family...
by ubermax
Sun May 28, 2017 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Private Pension Cuts
Replies: 30
Views: 4066

Re: Private Pension Cuts

Ron wrote:The Coca-Cola Co
NYSE: KO


Thanks Ron
by ubermax
Sun May 28, 2017 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Private Pension Cuts
Replies: 30
Views: 4066

Re: Private Pension Cuts

The only knowledge I have of his job was that he had a local route and a Coca Cola truck, where he made deliveries to local grocery chains and companies for their cafeterias, etc. Maybe he was an employee of a trucking company (the employer) that had the Coke contract and utilized union employees (...
by ubermax
Sun May 28, 2017 9:42 am
Forum: Personal Finance (Not Investing)
Topic: One time chance to reselect Defined Benefits or Defined Contribution
Replies: 35
Views: 2980

Re: One time chance to reselect Defined Benefits or Defined Contribution

Who is Segal????? Segal is a benefits consulting firm with a national presence ; they were always heavy into multiemployer plans but after looking at their website it appears they also do a lot of public plan work ; from a brief internet search it appears that they recommended some changes in both ...
by ubermax
Sat May 27, 2017 1:39 pm
Forum: Personal Finance (Not Investing)
Topic: One time chance to reselect Defined Benefits or Defined Contribution
Replies: 35
Views: 2980

Re: One time chance to reselect Defined Benefits or Defined Contribution

Since I have and will continue to max out my Roth and start 457, I feel it is more diversified to not put all my savings under the market's mercy. My other savings can help provide a nice cushion when I retire. My biggest fear is that I don't trust whoever is running the pension, so for that I'm ho...
by ubermax
Sat May 27, 2017 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Private Pension Cuts
Replies: 30
Views: 4066

Re: Private Pension Cuts

Valuethinker wrote:Fairly scary stuff. No idea of what, if anything, has been proposed to be done about it.


Unions have become a part of the fabric of this country and a thing called "the collective bargaining agreement" can be a very tenacious foe :happy
by ubermax
Sat May 27, 2017 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Private Pension Cuts
Replies: 30
Views: 4066

Re: Private Pension Cuts

To me it sounds like this is related to the problems unions are having with their multi-employer pension plans. Coca-Cola distributors used Teamsters drivers and the Teamsters are one of the groups hit hardest. Yes, this was my first thought also ; there was recent legislation passed in 2014 I beli...
by ubermax
Mon May 22, 2017 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: Present value of COLA pension
Replies: 20
Views: 1792

Re: Present value of COLA pension

We can tweak this easily for supervisor calculations. (CF * Joint Life) + (CF * Single Man) + (CF * Single Woman) / ((1+r)^t) The OP provided some data , we should use what we can , I think the expression should be : CF(PV SLA of primary annuitant) +(.55)CF(PV SLA secondary annuitant) - (.55)CF (PV...
by ubermax
Mon May 22, 2017 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: One time chance to reselect Defined Benefits or Defined Contribution
Replies: 35
Views: 2980

Re: One time chance to reselect Defined Benefits or Defined Contribution

Defined Contribution: The employer contributes 14%, employee contributes 13%, but only 9.5% of the employer contribution gets into the member's Defined Contribution account. 4.5% is being used to fund the liabilities of the defined benefits plan. Frugal , you're still missing the point , it's 14%EE...
by ubermax
Sun May 21, 2017 11:28 am
Forum: Personal Finance (Not Investing)
Topic: One time chance to reselect Defined Benefits or Defined Contribution
Replies: 35
Views: 2980

Re: One time chance to reselect Defined Benefits or Defined Contribution

Defined Contribution: The employer contributes 14%, employee contributes 13%, but only 9.5% of the employer contribution gets into the member's Defined Contribution account. 4.5% is being used to fund the liabilities of the defined benefits plan. My current average return rate, based on my account ...
by ubermax
Sat May 20, 2017 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: One time chance to reselect Defined Benefits or Defined Contribution
Replies: 35
Views: 2980

Re: One time chance to reselect Defined Benefits or Defined Contribution

Defined Contribution: The employer contributes 14%, employee contributes 13%, but only 9.5% of the employer contribution gets into the member's Defined Contribution account. 4.5% is being used to fund the liabilities of the defined benefits plan. I'm confused , if this is DC only , why is part of t...
by ubermax
Wed May 17, 2017 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Leaving money in MA teacher pension, but never planning to draw pension?
Replies: 18
Views: 1866

Re: Leaving money in MA teacher pension, but never planning to draw pension?

Odd that they would penalize the >10 years folks with a rate <3% in the event interest rates stay low... That's the way I read it but maybe I'm wrong - It's 3% for a max of two years and I'll bet many teachers who quit < 10 years grab the money right away , minimizing the impact of paying out that ...
by ubermax
Wed May 17, 2017 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Leaving money in MA teacher pension, but never planning to draw pension?
Replies: 18
Views: 1866

Re: Leaving money in MA teacher pension, but never planning to draw pension?

This sounds to me like her current account value would re recalculated to give her 3% interest for the years she had already contributed. The second bullet sort of backs this up since if she would have worked 10 years, she would have received the actual accrued interest (which, I assume, is what sh...

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