Search found 2607 matches

by michaeljc70
Sun Apr 22, 2018 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: What is a good flat rate cash back credit card?
Replies: 76
Views: 5971

Re: What is a good flat rate cash back credit card?

Someone may have mentioned this, but there is one small caveat with the Citi Double Cash which I was not aware of for a long time. If you apply cash back rewards to your statement credit you do not get the second 1% match on that amount. So I switched and started getting a check sent when I redeem ...
by michaeljc70
Sun Apr 22, 2018 10:54 am
Forum: Investing - Theory, News & General
Topic: I’m still not a fan of international bond funds
Replies: 107
Views: 5490

Re: I’m still not a fan of international bond funds

I think an interesting question is: how does it benefit Vanguard to offer these funds? My guess is it gets 4 funds in their Target funds. They charge a slightly higher ER than if you bought the funds separately. If it only had 2/3 funds, most people would just buy the cheaper 2/3 funds themselves a...
by michaeljc70
Sun Apr 22, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Settlement Offer -- Accept or Wait?
Replies: 63
Views: 4098

Re: Settlement Offer -- Accept or Wait?

I think your medical insurance company is going to want to be reimbursed. If you sign that agreement, you may be liable for the reimbursement of medical costs. That ambulance ride and ER Visit was likely a LOT more than $1800. You car insurance company will also want to be reimbursed. Without detai...
by michaeljc70
Sun Apr 22, 2018 9:58 am
Forum: Investing - Theory, News & General
Topic: I’m still not a fan of international bond funds
Replies: 107
Views: 5490

Re: I’m still not a fan of international bond funds

I think an interesting question is: how does it benefit Vanguard to offer these funds? My guess is it gets 4 funds in their Target funds. They charge a slightly higher ER than if you bought the funds separately. If it only had 2/3 funds, most people would just buy the cheaper 2/3 funds themselves a...
by michaeljc70
Sun Apr 22, 2018 9:51 am
Forum: Personal Finance (Not Investing)
Topic: What is a good flat rate cash back credit card?
Replies: 76
Views: 5971

Re: What is a good flat rate cash back credit card?

Someone may have mentioned this, but there is one small caveat with the Citi Double Cash which I was not aware of for a long time. If you apply cash back rewards to your statement credit you do not get the second 1% match on that amount. So I switched and started getting a check sent when I redeem ...
by michaeljc70
Sun Apr 22, 2018 9:49 am
Forum: Personal Finance (Not Investing)
Topic: Settlement Offer -- Accept or Wait?
Replies: 63
Views: 4098

Re: Settlement Offer -- Accept or Wait?

I think your medical insurance company is going to want to be reimbursed. If you sign that agreement, you may be liable for the reimbursement of medical costs. That ambulance ride and ER Visit was likely a LOT more than $1800. You car insurance company will also want to be reimbursed. Without detai...
by michaeljc70
Sun Apr 22, 2018 9:45 am
Forum: Investing - Theory, News & General
Topic: when to rebalance?
Replies: 12
Views: 891

Re: when to rebalance?

I rebalance on my birthday annually (try to avoid end of year/beginning of year fluctuations) if it requires selling/buying. If it is new money, of course I just put it to where it would put me closest to my AA. I previously used bands, but then you are checking stuff all the time. Annual can also r...
by michaeljc70
Sun Apr 22, 2018 9:31 am
Forum: Personal Consumer Issues
Topic: Remedy for Post-Purchase Problem (House)
Replies: 10
Views: 998

Re: Remedy for Post-Purchase Problem (House)

I'm not a lawyer, but it is unlikely they will recover anything from the buyer or the roofer. If in 4 years the previous owner either didn't know the roof leaking or was unable to get the roofer to do anything, that avenue is probably closed. The only way I can think of to possibly recover anything ...
by michaeljc70
Sun Apr 22, 2018 9:25 am
Forum: Personal Consumer Issues
Topic: Visiting Chicago - Foodie suggestions?
Replies: 28
Views: 1488

Re: Visiting Chicago - Foodie suggestions?

You've gotten some really good suggestions. Depending on how much time you have, I would try to venture out of River North/downtown/Wrigleyville and check out some of the other neighborhoods. The West Loop, Wicker Park, Bucktown and Logan Square have some great bars and restaurants. Some of the rest...
by michaeljc70
Sun Apr 22, 2018 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Updated w2 from 2013-2017
Replies: 6
Views: 495

Re: Updated w2 from 2013-2017

Most individuals operate on a cash basis, meaning they recognize the income when it is received according to IRS rules. Therefore, the income should be recognized in the year received. The error should not have required revised W2s for past years. The employer doesn't know if you are a cash basis f...
by michaeljc70
Sun Apr 22, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: Settlement Offer -- Accept or Wait?
Replies: 63
Views: 4098

Re: Settlement Offer -- Accept or Wait?

I think your medical insurance company is going to want to be reimbursed. If you sign that agreement, you may be liable for the reimbursement of medical costs. That ambulance ride and ER Visit was likely a LOT more than $1800. You car insurance company will also want to be reimbursed. Without detai...
by michaeljc70
Sun Apr 22, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: What is a good flat rate cash back credit card?
Replies: 76
Views: 5971

Re: What is a good flat rate cash back credit card?

I use the Citi Double Cash Back for almost all my purchases. 2% flat back. I don't like fooling around with different categories different quarters. The thing is, most cards with good bonuses don't have good cash back levels and vice versa. If you can convert a bonus card to a good cashback card as ...
by michaeljc70
Sat Apr 21, 2018 2:02 pm
Forum: Personal Consumer Issues
Topic: Selling a car: how to get paid?
Replies: 56
Views: 3443

Re: Selling a car: how to get paid?

I'm surprised no one mentioned a certified check. They cannot be stopped. Cashier's checks can be cancelled. ... To give an example, someone can get a cashier's check in their name (or a fake name). They say they lost it at the bank. They will have to wait 90-180 days typically depending on the ban...
by michaeljc70
Sat Apr 21, 2018 12:53 pm
Forum: Personal Consumer Issues
Topic: Selling a car: how to get paid?
Replies: 56
Views: 3443

Re: Selling a car: how to get paid?

I'm surprised no one mentioned a certified check. They cannot be stopped. Cashier's checks can be cancelled. If the amount was less than 10k, I would just ask for cash. If over 10k you run into extra paperwork. If you went to the bank with the buyer and cashed a personal check (getting the cash) be...
by michaeljc70
Sat Apr 21, 2018 12:07 pm
Forum: Investing - Theory, News & General
Topic: I’m still not a fan of international bond funds
Replies: 107
Views: 5490

Re: I’m still not a fan of international bond funds

I've been thinking of dumping mine. I am 75/25 with 25% of the 25% being international bonds. It is really only 6% of my portfolio presently, so not really providing much diversification. It's not producing much drag either, but probably not worth bothering with. The actual 12 mo yields aren't that...
by michaeljc70
Sat Apr 21, 2018 11:50 am
Forum: Personal Consumer Issues
Topic: Selling a car: how to get paid?
Replies: 56
Views: 3443

Re: Selling a car: how to get paid?

I'm surprised no one mentioned a certified check. They cannot be stopped. Cashier's checks can be cancelled. If the amount was less than 10k, I would just ask for cash. If over 10k you run into extra paperwork. If you went to the bank with the buyer and cashed a personal check (getting the cash) be...
by michaeljc70
Sat Apr 21, 2018 11:25 am
Forum: Investing - Theory, News & General
Topic: I’m still not a fan of international bond funds
Replies: 107
Views: 5490

Re: I’m still not a fan of international bond funds

I've been thinking of dumping mine. I am 75/25 with 25% of the 25% being international bonds. It is really only 6% of my portfolio presently, so not really providing much diversification. It's not producing much drag either, but probably not worth bothering with. The actual 12 mo yields aren't that ...
by michaeljc70
Sat Apr 21, 2018 11:08 am
Forum: Personal Consumer Issues
Topic: Selling a car: how to get paid?
Replies: 56
Views: 3443

Re: Selling a car: how to get paid?

I'm surprised no one mentioned a certified check. They cannot be stopped. Cashier's checks can be cancelled. If the amount was less than 10k, I would just ask for cash. If over 10k you run into extra paperwork. If you went to the bank with the buyer and cashed a personal check (getting the cash) bef...
by michaeljc70
Sat Apr 21, 2018 10:58 am
Forum: Personal Finance (Not Investing)
Topic: Is the first 100k really the hardest?
Replies: 95
Views: 29718

Re: Is the first 100k really the hardest?

Of course the first 100k is the hardest. 100-->200 should be easier than 200->300 and so on. Salaries go up, investing goes up, and compounding. Should really be looking at 100>200, then 200-->400, 400-->800, etc. Double the previous number. 100-->200 is 100% increase while 200-->300 is only 50%, 3...
by michaeljc70
Fri Apr 20, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Help me explain why pre-tax investing can help when retiring in same bracket
Replies: 83
Views: 6495

Re: Help me explain why pre-tax investing can help when retiring in same bracket

A lot of this is speculation over 1) future tax rates/policy and 2) knowing your income far into the future during retirement. Personally, I've mostly taken a bird in the hand approach and contributed to tax deferred accounts to save/invest more money now. I plan to do conversions in early retiremen...
by michaeljc70
Fri Apr 20, 2018 11:20 am
Forum: Investing - Theory, News & General
Topic: We crush stock indexes, Yale claims
Replies: 98
Views: 11006

Re: We crush stock indexes, Yale claims

"For the 20-year period ending June 30, Yale's endowment earned a 12.1 percent annualized return, beating its benchmark Wilshire 5000 stock index, which gained 7.5 percent."

What? How can a fund with 5% US stocks have that as it's benchmark? It is really comparing apples and orangutans.
by michaeljc70
Wed Apr 18, 2018 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Can I *not* claim all the state tax in my itemized deduction?
Replies: 39
Views: 4024

Re: Can I *not* claim all the state tax in my itemized deduction?

Will this be moot for you next year with the increased standard deduction? Just don't over withhold on your state taxes and you won't have this issue. It seems people (and the OP) are making this more complicated than it needs to be. Most states follow the Federal safe harbor rules to avoid a penalty.
by michaeljc70
Wed Apr 18, 2018 7:35 pm
Forum: Personal Finance (Not Investing)
Topic: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?
Replies: 121
Views: 7948

Re: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?

A few things that come to mind after reading the last few posts: -There could be black swan type events that haven't happened before. Many other unforeseen things can happen on a micro or macro level. We could get hit by a bus or tsunami or meteor tomorrow. I prefer to focus on the positive and the ...
by michaeljc70
Wed Apr 18, 2018 4:40 pm
Forum: Personal Consumer Issues
Topic: Association Property tax appeal - opt in
Replies: 8
Views: 582

Re: Association Property tax appeal - opt in

My question is, since similar properties are supposed to be assessed the same, and most of the units here are identical, if I don't do anything, will my assessed value actually rise higher than my neighbors? These things are local. But, where I am, the answer would be, yes. In other words, let's sa...
by michaeljc70
Wed Apr 18, 2018 3:22 pm
Forum: Personal Consumer Issues
Topic: Association Property tax appeal - opt in
Replies: 8
Views: 582

Re: Association Property tax appeal - opt in

I have appealed on my own before. It is a simple process. I didn't really get anywhere. That was on another property though. My friend that worked for the county and was an attorney and then a judge told me that if you don't hire an attorney they know (politicians firm, worked for the county previo...
by michaeljc70
Wed Apr 18, 2018 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?
Replies: 121
Views: 7948

Re: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?

I wonder that, given the historical return of the market and you do it correctly, is it possible to assume that you can withdraw from this portfolio permanently, I mean: having the same portfolio balance or even more after 50 years? I don't have specific data on that in front of me. I have read tha...
by michaeljc70
Wed Apr 18, 2018 1:29 pm
Forum: Personal Consumer Issues
Topic: Association Property tax appeal - opt in
Replies: 8
Views: 582

Re: Association Property tax appeal - opt in

My question is, since similar properties are supposed to be assessed the same, and most of the units here are identical, if I don't do anything, will my assessed value actually rise? I looked at a few of my neighbors and we had the same assessed as me, but I don't know if they hired the attorney or...
by michaeljc70
Wed Apr 18, 2018 1:07 pm
Forum: Personal Consumer Issues
Topic: Association Property tax appeal - opt in
Replies: 8
Views: 582

Association Property tax appeal - opt in

Our townhome homeowner's association selects an attorney to appeal our property taxes. You can opt in, do nothing, or hire your own attorney (each unit is individually assessed and gets its own bill). Last time, I opted in and supposedly received "savings". You pay based on a calculation based how m...
by michaeljc70
Tue Apr 17, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?
Replies: 121
Views: 7948

Re: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?

How difficult it is to find somebody who did this for 50 years running and is a current BH contributor. Do we have any retirees who retired in 1968 and used 2.5% withdrawal for 50 years? Then again if you were around when inflation did run at 15% or when the DOW index lost 90% if its value in three...
by michaeljc70
Tue Apr 17, 2018 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: Got hit with a $2800 Medical bill. Can I negotiate?
Replies: 187
Views: 9262

Re: Got hit with a $2800 Medical bill. Can I negotiate?

A lot of provider contracts with health insurers don't allow further discounting to people insured. Don't you get an insurance discount? Was it in network? You say a small portion was covered, yet you hadn't reached your deductible. We had to get a CT Scan last year. The bill was $2100 but the insur...
by michaeljc70
Tue Apr 17, 2018 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Help me explain why pre-tax investing can help when retiring in same bracket
Replies: 83
Views: 6495

Re: Help me explain why pre-tax investing can help when retiring in same bracket

A couple other things I didn't see mentioned (though I just skimmed): -If your income will be relatively low, part or most of your SS could be taxes in retirement with taxable income. The threshold for taxation of SS is low so this probably isn't a factor for most people. -If you are retiring early ...
by michaeljc70
Tue Apr 17, 2018 2:50 pm
Forum: Personal Consumer Issues
Topic: What percentage of you 2017 income can you account for?
Replies: 49
Views: 3267

Re: What percentage of you 2017 income can you account for?

I charge everything I reasonably can. I download all those into quicken almost daily and categorize them the best I can. I try not to wait more than a day or two as it is hard to remember especially for places like Costco where the purchase couple for many categories. I try to record cash purchases,...
by michaeljc70
Mon Apr 16, 2018 3:50 pm
Forum: Personal Consumer Issues
Topic: BH travel tips?
Replies: 129
Views: 7476

Re: BH travel tips?

When pushing the limits of my carry-on, I've run into the situation where my bag won't fit in the overhead bin. That leads to having to take individual things out on the plane or stand there trying to use brute force both of which can be embarrassing. I've started putting a few things in a plastic b...
by michaeljc70
Sat Apr 14, 2018 6:58 pm
Forum: Personal Consumer Issues
Topic: BH travel tips?
Replies: 129
Views: 7476

Re: BH travel tips?

If you’re going to use an ATM to get cash in the country’s currency be sure your spouse has an ATM card too, preferably in his/her own name. A bank ATM in Greece ate my card on a holiday which would have left us with very limited funds. We found another ATM and used my wife’s card with no problem. ...
by michaeljc70
Sat Apr 14, 2018 6:53 pm
Forum: Personal Consumer Issues
Topic: BH travel tips?
Replies: 129
Views: 7476

Re: BH travel tips?

So I'll be the oddball here. I go to Europe or Latin America twice a year, and I always check a 50 pound suitcase with enough clothing for two weeks. I try to carry on as little as possible. After I take my seat on the aircraft, I amuse myself by watching all those folks with the oversized backpack...
by michaeljc70
Sat Apr 14, 2018 6:41 pm
Forum: Investing - Theory, News & General
Topic: Trinity Study updated to 2018
Replies: 113
Views: 9841

Re: Trinity Study updated to 2018

One thing that stands out to me in the table in the article is if you are 75/25 you have almost a 50/50 chance of a 7% SWR over 30 years.
by michaeljc70
Sat Apr 14, 2018 6:38 pm
Forum: Investing - Theory, News & General
Topic: Trinity Study updated to 2018
Replies: 113
Views: 9841

Re: Trinity Study updated to 2018

Michael, Michael, I think using variable withdrawal methods helps a lot in not having so much unspent wealth. Also, if you look at most of the worst case scenarios (where sequence of returns will hit you hardest), it is toward the beginning of your retirement. Personally, after 5-10 years if things...
by michaeljc70
Sat Apr 14, 2018 3:55 pm
Forum: Investing - Theory, News & General
Topic: Trinity Study updated to 2018
Replies: 113
Views: 9841

Re: Trinity Study updated to 2018

Dbr, A withdrawal method that forces you to vary your withdrawals according to events is probably an intelligent approach to managing a portfolio, but it is not immune to anything. There is no such thing as immunity to what history hands you as your fate. But, Social Security exists, as well as do ...
by michaeljc70
Sat Apr 14, 2018 3:44 pm
Forum: Investing - Theory, News & General
Topic: Trinity Study updated to 2018
Replies: 113
Views: 9841

Re: Trinity Study updated to 2018

Michael, I think using variable withdrawal methods helps a lot in not having so much unspent wealth. Also, if you look at most of the worst case scenarios (where sequence of returns will hit you hardest), it is toward the beginning of your retirement. Personally, after 5-10 years if things have gon...
by michaeljc70
Sat Apr 14, 2018 2:07 pm
Forum: Investing - Theory, News & General
Topic: Trinity Study updated to 2018
Replies: 113
Views: 9841

Re: Trinity Study updated to 2018

A disservice is done every time the Trinity study is equated to a retirement income withdrawal strategy. As the latter, it would have to be the worst method. The thought of setting a withdrawal rate, then never looking again at actual outcome, portfolio balance, inflation, etc. is reckless. Statist...
by michaeljc70
Sat Apr 14, 2018 1:49 pm
Forum: Investing - Theory, News & General
Topic: Trinity Study updated to 2018
Replies: 113
Views: 9841

Re: Trinity Study updated to 2018

A disservice is done every time the Trinity study is equated to a retirement income withdrawal strategy. As the latter, it would have to be the worst method. The thought of setting a withdrawal rate, then never looking again at actual outcome, portfolio balance, inflation, etc. is reckless. Statist...
by michaeljc70
Sat Apr 14, 2018 1:28 pm
Forum: Personal Consumer Issues
Topic: How Far is too Far, Commuting?
Replies: 205
Views: 10697

Re: How Far is too Far, Commuting?

I live in a big city not far from downtown and commute to a close suburb. It is only 11 miles, but it can take an hour. Without traffic (like at 4am) it is a 15 minute ride (all highway). I almost find going such a short distance at a slow pace worse than going further at a faster pace. For me, ther...
by michaeljc70
Fri Apr 13, 2018 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should mom file married filing separate?
Replies: 5
Views: 367

Re: Should mom file married filing separate?

As noted above, it would be best to run it both ways. I am guessing, but the husband has probably been benefiting from your Mom's joint filing for years. If it isn't beneficial to file separately, it seems reasonable to me that they work out something that would be fair to both of them. I mean, who ...
by michaeljc70
Fri Apr 13, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate to ask co-worker when retiring?
Replies: 35
Views: 2251

Re: Appropriate to ask co-worker when retiring?

No. But you can tell her that if she ever decides to leave her job, you would appreciate a heads up because you may know someone that is interested in the job. She may offer some information then. She may not.
by michaeljc70
Fri Apr 13, 2018 8:05 am
Forum: Personal Finance (Not Investing)
Topic: The "mechanics" of retiring
Replies: 20
Views: 3731

Re: The "mechanics" of retiring

Your desire to do ACA for your insurance will complicate your plans for the 72t. You need to know the upper limits. You may need to know your lower limit too if you live in a state where you could default to medicaid if below a limit. Someone I know does this and she has to create a taxable income ...
by michaeljc70
Thu Apr 12, 2018 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: The "mechanics" of retiring
Replies: 20
Views: 3731

Re: The "mechanics" of retiring

I am looking to possibly retire next year early (age 48 or 49). ... I am sort of wondering if the 4% rule is too generic for early retirement 4% is a generic rule of thumb for 30 year retirement. So, not only is it not "generic" for early retirement, it's not applicable at all to early retirement.....
by michaeljc70
Thu Apr 12, 2018 11:15 am
Forum: Personal Finance (Not Investing)
Topic: The "mechanics" of retiring
Replies: 20
Views: 3731

Re: The "mechanics" of retiring

Thanks for the suggested readings. I'll take a look at those. It seems to do 72t withdrawals and Roth conversations I will need to split my tIra into two accounts from what I've read and use one for each. I have never seen this suggestion. The IRS considers multiple Traditional IRA accounts as one ...
by michaeljc70
Thu Apr 12, 2018 9:18 am
Forum: Personal Finance (Not Investing)
Topic: The "mechanics" of retiring
Replies: 20
Views: 3731

Re: The "mechanics" of retiring

Thanks for the suggested readings. I'll take a look at those.

It seems to do 72t withdrawals and Roth conversations I will need to split my tIra into two accounts from what I've read and use one for each.