Search found 490 matches

by remomnyc
Mon Jun 18, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 5813

Re: Lost job. Take early SS or draw from accounts?

I told her she needs to reduce her basic expenses to $3k/mo. If she gets a job, that will be discretionary income. She is making a detailed list of her expenses, so I can see where she can reduce. I am going to help her with her resume. The current plan is for her to draw from SS when she runs out o...
by remomnyc
Sun Jun 17, 2018 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 5813

Re: Lost job. Take early SS or draw from accounts?

Regarding her decision to file for SS early or draw on IRA. It is helpful to remember she can make that decision 12 times a year. If her portfolio tanks, she can file for SS any month. But I think once you file, withdrawing a claim requires that you pay it back--something she might think of doing i...
by remomnyc
Sun Jun 17, 2018 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 5813

Re: Lost job. Take early SS or draw from accounts?

SSDI: She does not qualify for SSDI. She checked. Cobra: Her coverage would be $800/mo under Cobra. Medicaid: She will have too much income this year to qualify. Roommate: There are people with rent stabilized apartments, who are looking to rent a room. My suggestion was for her to find one rather t...
by remomnyc
Sat Jun 16, 2018 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 5813

Re: Lost job. Take early SS or draw from accounts?

Okay, she won't be eligible for Medicaid this year, but will be next year. Job prospects are not good. I guess she really needs to focus on reducing expenses.
by remomnyc
Sat Jun 16, 2018 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 5813

Lost job. Take early SS or draw from accounts?

The company where my friend works is going out of business. She will look for a new job, but based on her age and lack of mobility (barely ambulatory with a walker), I think she will have difficulties. She is not eligible for disability but is eligible for unemployment at $405/week for 26 weeks. Age...
by remomnyc
Wed Jun 13, 2018 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement
Replies: 74
Views: 7006

Re: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement

Another issue is jobs. I know companies that relocated outside of the city for tax benefits and then discovered it was hard to attract workers to the suburban location. As a result, once the tax benefits expired, they closed up their offices and moved back to the city. If the people want to be in th...
by remomnyc
Mon Jun 11, 2018 5:47 pm
Forum: Investing - Help with Personal Investments
Topic: Strategy for a prolonged bear market
Replies: 65
Views: 5391

Re: Strategy for a prolonged bear market

Plan A: Reduce expenses (~25% discretionary).
Plan B: Sell only fixed income to finance expenses.
Plan C: Move from VHCOL to lower COL (only in case of job loss).
by remomnyc
Thu Jun 07, 2018 7:10 pm
Forum: Investing - Help with Personal Investments
Topic: 3 fund vs overweighting
Replies: 9
Views: 716

Re: 3 fund vs overweighting

Look up the Callan Return chart. The future is hard to predict.

https://www.callan.com/periodic-table/

Who knows what sector will overperform in the future?
by remomnyc
Thu Jun 07, 2018 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Term Life Insurance for Young Couple
Replies: 28
Views: 2170

Re: Term Life Insurance for Young Couple

We used selectquote.com and bought term when I was pregnant with our second. We were in our late 30s when we bought 25-year policies, and they were dirt cheap. I can't imagine they could be much cheaper in your 20s. Until we bought a place and had kids, we had no need for life insurance. We also spo...
by remomnyc
Mon Jun 04, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: What is your Take Home Pay / Gross Pay ratio?
Replies: 75
Views: 5661

Re: What is your Take Home Pay / Gross Pay ratio?

I just retired, but it was 54% after fed, state, local, SS,and Medicare. I maxed out 401k, catch up contribution, and FSA.
by remomnyc
Mon May 28, 2018 9:40 pm
Forum: Investing - Help with Personal Investments
Topic: When and how often do you rebalance
Replies: 52
Views: 3889

Re: When and how often do you rebalance

During accumulation, I rebalanced with new contributions, interest and dividends. My rebalance trigger is 5%. During drawdown, I will sell taxable and use tax deferred to rebalance back to my asset allocation.
by remomnyc
Wed May 23, 2018 1:54 am
Forum: Investing - Help with Personal Investments
Topic: How do you stop moving the goal posts.
Replies: 62
Views: 4940

Re: How do you stop moving the goal posts.

Retirement is a fairly new construct. My doctor worked until his 80th birthday, and he was definitely ambivalent about retiring. Most of us retire because our jobs prevent us from doing things that would give us more happiness and meeting non-financial goals. You don't have to retire if you enjoy yo...
by remomnyc
Fri May 11, 2018 9:40 pm
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 205
Views: 27586

Re: Roll Call for the Retirement Class of 2018!

Big Dog wrote:
Fri May 11, 2018 9:19 pm
I was told last Tuesday that I'm joining the class. :|
Ah, Big Dog. Was it completely unexpected? Are you prepared?
by remomnyc
Fri May 11, 2018 9:02 pm
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 205
Views: 27586

Re: Roll Call for the Retirement Class of 2018!

After only one OMY (one more year), which was a really miserable year, I did it Next week is my final week. My co-workers have remarked they've never seen me so happy. My want to do list keeps getting longer and longer. I feel like I could be busier without a job than with one!
by remomnyc
Mon May 07, 2018 9:17 pm
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to change jobs or should I stay put?
Replies: 70
Views: 6659

Re: Is it time for me to change jobs or should I stay put?

Do you want a promotion? If you do, you have to ask what you need to do to be promoted. My friend was offered a promotion, and she turned it down because it was a bad time in her life to take on more responsibility. She was not offered again. When she wanted to be promoted, she had to ask. What do y...
by remomnyc
Mon May 07, 2018 9:09 pm
Forum: Investing - Help with Personal Investments
Topic: When did you start drawing profits from taxable?
Replies: 48
Views: 3417

Re: When did you start drawing profits from taxable?

Until now, I have only sold in taxable to tax loss harvest or change my asset allocation. I will start drawing profits next month when I retire. For big purchases and vacations, we tap our emergency fund, which holds a year of expenses, and replenish it from cash flow when it gets low. As others hav...
by remomnyc
Sun May 06, 2018 9:59 pm
Forum: Personal Consumer Issues
Topic: Bucket List Adventures/Activities
Replies: 110
Views: 8229

Re: Bucket List Adventures/Activities

I travel a lot and often. My bucket list would be a little different.

I want to get back in fighting shape.
I want to live abroad.
I want to master another language.
I want to visit all the friends I don't get to see regularly.
by remomnyc
Sat May 05, 2018 8:36 pm
Forum: Investing - Help with Personal Investments
Topic: Need encouragement with holding my bond fund assets
Replies: 27
Views: 2196

Re: Need encouragement with holding my bond fund assets

Remind yourself why you bought bonds in the first place. It was not for return, was it? It was to protect yourself against volatile stock losses, right? They are still serving that purpose. When stocks fall again (and they will), the bonds will probably become more desirable and even if you have a 3...
by remomnyc
Thu May 03, 2018 8:25 pm
Forum: Personal Consumer Issues
Topic: Are bonus and equity pro-rated at lay off?
Replies: 16
Views: 1610

Re: Are bonus and equity pro-rated at lay off?

I have been at a few firms where the lay-offs are timed before bonuses were to be paid to avoid paying the bonus.
by remomnyc
Thu May 03, 2018 3:48 pm
Forum: Investing - Help with Personal Investments
Topic: Starting to smell like buying season?
Replies: 55
Views: 6581

Re: Starting to smell like buying season?

Most years when I got my 401k match or my bonus, I had to hold my nose and buy even though prices were at all time highs. You just can't tell (or at least I can't) when it's buying season, so I'm always a buyer when I have cash.
by remomnyc
Wed May 02, 2018 9:56 pm
Forum: Personal Consumer Issues
Topic: Where to babymoon?
Replies: 38
Views: 3800

Re: Where to babymoon?

Where does your wife want to go? We ended up going to the Seychelles when I was 7 mos pregnant because the trip was booked a year in advance, when I wasn't pregnant. I had zero desire to go anywhere. I certainly did not want to go somewhere hot. All I wanted to do was sit in air-conditioning and be ...
by remomnyc
Fri Apr 27, 2018 1:14 pm
Forum: Personal Consumer Issues
Topic: Do you sell or donate unused items?
Replies: 46
Views: 2814

Re: Do you sell or donate unused items?

If I can easily sell it for $50 or more, I do; otherwise, I donate.
by remomnyc
Thu Apr 26, 2018 10:30 pm
Forum: Personal Consumer Issues
Topic: Wedding - financial burden on couple and attendees
Replies: 168
Views: 10605

Re: Wedding - financial burden on couple and attendees

OP, it's not your wedding. Go or decline. Tell the others to do the same. The wedding couple should have whatever wedding they want. The couple can decide how to spend their money and so can the invited guests. People can decide to attend or not. I said no to Hawaii. A friend wanted to marry in Hawa...
by remomnyc
Wed Apr 25, 2018 10:17 pm
Forum: Personal Consumer Issues
Topic: How did you tell the boss you're leaving/retiring?
Replies: 129
Views: 9507

Re: How did you tell the boss you're leaving/retiring?

I plan on giving two weeks notice, which is what I have done every time I quit. I think my boss may be surprised I'm retiring since I'm nearly 20 years his junior.
by remomnyc
Wed Apr 25, 2018 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 6190

Re: Who benefits from "best and final offer" on condo?

We were in a multiple bid situation. The seller asked for best and final. We made ours and lost. Apparently, another losing bidder then increased their offer and a bidding war ensued. After weeks of reviewing docs, the winning bid ended up getting cold feet and decided they had offered more than the...
by remomnyc
Wed Apr 25, 2018 1:36 pm
Forum: Investing - Help with Personal Investments
Topic: Mr. Analysis by Peralysis
Replies: 5
Views: 870

Re: Mr. Analysis by Peralysis

If you have tax deferred, make sure the bonds are placed there; otherwise, it sounds like a great plan. You can rebalance as you invest or annually. IMO, this is better than a target date plan because the expense ratio is less and you don't have international bond exposure.
by remomnyc
Tue Apr 24, 2018 6:22 pm
Forum: Investing - Help with Personal Investments
Topic: If you were starting from $0
Replies: 14
Views: 1400

Re: If you were starting from $0

60% VTI and 40% VXUS
by remomnyc
Mon Apr 23, 2018 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Salary Negotiation gone sour
Replies: 98
Views: 10310

Re: Salary Negotiation gone sour

It sounds like the max base was $85k. You demonstrated you would not accept it, and they moved on. When the base was less than I wanted but the job and company was one that I wanted, I negotiated a six-month performance and salary review and another time, a minimum base bonus. Each time I accepted t...
by remomnyc
Sat Apr 21, 2018 9:43 am
Forum: Personal Consumer Issues
Topic: How long have you been employed?
Replies: 44
Views: 2744

Re: How long have you been employed?

I've worked part-time since age 10, started by delivering papers (dragging them in a wagon), then babysitting, cleaning houses, waiting tables, temping. I've worked full-time for 31 years, which will come to an end next month.
by remomnyc
Fri Apr 20, 2018 2:11 pm
Forum: Investing - Theory, News & General
Topic: NYT article: Everyone should hire a financial planner
Replies: 103
Views: 9557

Re: NYT article: Everyone should hire a financial planner

Maybe not everyone, but A LOT of people should hire a financial planner. All of my peers have a college degree and most have graduate degrees, but many aren't maxing out tax-advantaged space, or have their 401k in mutual funds with front loaded fees and high expense ratios, or have whole life rathe...
by remomnyc
Fri Apr 20, 2018 1:23 pm
Forum: Investing - Theory, News & General
Topic: NYT article: Everyone should hire a financial planner
Replies: 103
Views: 9557

Re: NYT article: Everyone should hire a financial planner

Maybe not everyone, but A LOT of people should hire a financial planner. All of my peers have a college degree and most have graduate degrees, but many aren't maxing out tax-advantaged space, or have their 401k in mutual funds with front loaded fees and high expense ratios, or have whole life rather...
by remomnyc
Wed Apr 18, 2018 7:26 pm
Forum: Investing - Theory, News & General
Topic: Bloomberg article on lump sum vs dollar cost averaging
Replies: 79
Views: 6185

Re: Bloomberg article on lump sum vs dollar cost averaging

I dollar cost averaged after the crash. Since then, I always lump sum whenever I have cash. If I were to receive a life-changing amount of money (unlikely, unless I win the lottery; again, unlikely, since I would have to buy a ticket), I would probably change my asset allocation toward more fixed in...
by remomnyc
Wed Apr 18, 2018 3:26 pm
Forum: Personal Consumer Issues
Topic: underwater camera advice
Replies: 18
Views: 756

Re: underwater camera advice

We bought a waterproof casing for our Canon PowerShot years ago. See if you can get a casing for your existing camera. The biggest problem for us was picture clarity in low light conditions. My friend who is an avid underwater photographer has a flash that's nearly the size of the camera. This may b...
by remomnyc
Wed Apr 18, 2018 3:19 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1241

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 remomnyc
Wed Apr 18, 2018 3:14 pm
Forum: Investing - Help with Personal Investments
Topic: Ally Bank No penalty CD for parking cash, is there a catch?
Replies: 103
Views: 19184

Re: Ally Bank No penalty CD for parking cash, is there a catch?

The only thing to be aware of is that you have to withdraw the entire no-penalty CD all at once, so if you know you're going to be making monthly withdraws, I would open up batches of CDs. The Ally no penalty CD is currently 1.6%, the same rate as the Marcus savings rate. Marcus has a 12-month CD pa...
by remomnyc
Wed Apr 18, 2018 12:02 pm
Forum: Investing - Help with Personal Investments
Topic: 1 Year a Boglehead - Check-In/Up
Replies: 13
Views: 1241

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 forward...
by remomnyc
Tue Apr 17, 2018 2:30 pm
Forum: Investing - Help with Personal Investments
Topic: Edited 4/23 Please help with overall investment plan for retirement
Replies: 8
Views: 1102

Re: Please help with overall investment plan for retirement

Yes, redo with percentages adding to 100%. Does he have TIAA traditional available in his 401k/403b?
by remomnyc
Tue Apr 17, 2018 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: 2.5% Withdrawal for 50 Years With 50/50 Portfolio?
Replies: 121
Views: 9099

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

Easy peasy. I get dividend income out of my retirement accounts every quarter and I have yet to make an IRA withdrawal nor have I changed my asset allocation. Buy in IRA with dividend proceeds, sell same etf in taxable. Pay long term capital gains on 'dividend' income. So---in a simplified world---...
by remomnyc
Wed Apr 11, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: The "mechanics" of retiring
Replies: 20
Views: 3972

Re: The "mechanics" of retiring

If you're doing 72t for 10 years, you are committed to withdrawing that amount. If you have a 70/30 all in tIRAs, and you have a 50% stock correction, you'll be down by 35% and forced to sell while prices are low, so make sure you don't have a blended or target fund, so you can sell bonds when stock...
by remomnyc
Tue Apr 10, 2018 12:05 pm
Forum: Investing - Theory, News & General
Topic: Retirees: Who's increasing their equities as they age?
Replies: 74
Views: 5842

Re: Retirees: Who's increasing their equities as they age?

Retiring early 50s at 55% equities. Will rebalance to 60% at age 60. Will rebalance again at age 70 when I get SS, but SS will then be included as part of my fixed income, significantly increasing the share of equities in my portfolio. That's the plan, but a lot could change between now and then.
by remomnyc
Mon Apr 09, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone at Goldman Sachs/Marcus bank 1.5%?
Replies: 41
Views: 6633

Re: Anyone at Goldman Sachs/Marcus bank 1.5%?

We have savings at Marcus Bank, Capital One, and Amex as well as CDs at Ally. Like others, we've been at Marcus since it was GE Capital Bank. Their rates and Capital One rates have always been competitive. No need to chase rates. We no longer need the Amex and Capital One accounts, but we leave a no...
by remomnyc
Mon Apr 09, 2018 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: Will I catch up saving for retirement?
Replies: 54
Views: 4691

Re: Will I catch up saving for retirement?

Once you're done with childcare, you can turbo charge the 529s and taxable savings. There's no reason you couldn't retire in 10 or 15 yrs at your current expenses and savings rate. In no universe are you behind.
by remomnyc
Sun Apr 08, 2018 8:07 pm
Forum: Investing - Theory, News & General
Topic: Make your retirement money last
Replies: 56
Views: 16245

Re: Make your retirement money last

I bought multiple copies to gift to people who ask me for financial advice.
by remomnyc
Sun Apr 08, 2018 8:01 pm
Forum: Investing - Theory, News & General
Topic: What is your AA, given your age? and, Why?
Replies: 163
Views: 12541

Re: What is your AA, given your age? and, Why?

80/20 until i realized I was almost financially independent
70/30 2 yrs before retirement
55/45 at retirement (this year in early 50s)
60/40 at age 60
Not sure what I'll do afterward.
by remomnyc
Sun Apr 08, 2018 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Ivy school education. Is it worth it?
Replies: 238
Views: 13659

Re: Ivy school education. Is it worth it?

For grad school, I decided to pay for an Ivy rather than taking the 50% scholarship elsewhere. My parents had no say since they weren't paying. I told my kids whatever they save me on their education, I will gift them later. My friends whose parents were paying made the same offer, and my friends ch...
by remomnyc
Sun Apr 08, 2018 2:46 pm
Forum: Personal Finance (Not Investing)
Topic: Parents have zero savings. What can I do?
Replies: 168
Views: 15314

Re: Parents have zero savings. What can I do?

Encourage them both to work until age 70 and not to draw SS until then. +1 Advise them to delay SS to 70 and continue to work until they are no longer able or no one will hire them. They can also downsize and move to LCOL area. The only thing you should do is to decide what you and your wife are wi...
by remomnyc
Fri Apr 06, 2018 10:47 am
Forum: Investing - Help with Personal Investments
Topic: Who uses the 3 fund portfolio ?
Replies: 75
Views: 9459

Re: Who uses the 3 fund portfolio ?

I have more than 3 but that is due to capital gains tax implications of selling things (mostly tilts) I had before I found BH. All rebalancing and any new purchases go to total stock, total international, or total bond. I must admit, however, my fixed income portfolio also contains a 4-yr CD ladder.
by remomnyc
Fri Apr 06, 2018 10:26 am
Forum: Investing - Help with Personal Investments
Topic: What to do?
Replies: 8
Views: 839

Re: What to do?

Each state has a specific time period to cancel annuities that starts when the policy is delivered to you, ranging from 10 to 30 days after you receive the contract for a full refund.
by remomnyc
Thu Apr 05, 2018 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: House down payment - Smart for anything between 3.5% and 20%?
Replies: 23
Views: 1778

Re: House down payment - Smart for anything between 3.5% and 20%?

KlangFool wrote:
Thu Apr 05, 2018 3:12 pm
OP,

There is a bigger picture question here. If you cannot afford to pay 20% down for the house, you might be buying too much house. Aka, you cannot afford the house.

KlangFool
+1
KlangFool took the words out of my mouth.
by remomnyc
Thu Apr 05, 2018 1:27 pm
Forum: Investing - Help with Personal Investments
Topic: How do Bogleheads Take Advantage of Dips When Fully Invested?
Replies: 55
Views: 7428

Re: How do Bogleheads Take Advantage of Dips When Fully Invested?

I buy whenever my 401k contributions go in, whenever I have dividends in taxable, and whenever I hit my 5% bands. I haven't sold anything since I changed my allocation last summer for early retirement. Despite the volatility, with the rebalancing from dividends and contributions, my 5% bands have no...