Search found 919 matches

by spammagnet
Sun Oct 07, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Mechanics of running a one-person S-corp without an accountant
Replies: 7
Views: 828

Re: Mechanics of running a one-person S-corp without an accountant

2) Currently Paychex withholds taxes out of each monthly paycheck (enough to cover both wages and distributions) and sends those to the appropriate tax collection authorities. If she were to stop using Paychex, how would we handle monthly tax withholding, and a W-2 form at the end of the year? Woul...
by spammagnet
Sun Oct 07, 2018 2:36 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2924
Views: 576213

Re: What's Your Credit Card Rewards Strategy?

Thanks for the explanation. Knowing that, I won't try to upgrade back to Sapphire Reserve. I will do either of the following unless someone has a better idea: 1. Open Chase Ink Business Preferred for the 80k point welcome bonus, move my current points there and cancel the Sapphire Preferred 2. Move...
by spammagnet
Fri Oct 05, 2018 8:51 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2924
Views: 576213

Re: What's Your Credit Card Rewards Strategy?

Thanks for sharing this. I have now CSP, and plan to upgrade it to CSR next year. I would have around 70K UR points right before i ask for an upgrade. My question to you is would my existing CSP 70K UR points would worth 1.5 cents each instead of the current 1.25 after upgrading? thanks! Yes, they ...
by spammagnet
Mon Oct 01, 2018 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2924
Views: 576213

Re: What's Your Credit Card Rewards Strategy?

I'm sure I could get more bang for my buck with Chase Sapphire but still can't wrap my head around the annual fee. Both husband and I use a Citicard for 99% of purchases. On a long enough timeline it generates enough points to serve its purpose. ... We took your approach for years for simplicity an...
by spammagnet
Fri Sep 14, 2018 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 16
Views: 2085

Re: Has anyone used Income Strategy website/software?

.. does a MAGI of $319,800 have some special significance? Is it a break point for taxes or something related? ... I found the answer to my own question. First, it's 319,998.00, not 319,800.00. Second, It's the level at which IRMAA Medicare premiums go to $428.60. Why that level was specified, rath...
by spammagnet
Fri Sep 14, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 16
Views: 2085

Re: Has anyone used Income Strategy website/software?

Having more free time since retirement, I've played with the software some. An intro session from their software support staff, along with a couple of followup questions, have provided some insight into how it operates. The UI is not the friendliest I've ever used but, once you understand how it wor...
by spammagnet
Fri Sep 14, 2018 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?
Replies: 52
Views: 8065

Re: Does anyone use Personal Capital, Mint, Tiller, or You Need a Budget?

So I installed the Personal Capital app today, but it turns out you cannot change your password from the app, only your email address, phone number and optional PIN. Searching the online help shows a picture of doing it via their website, but going to the website just redirected me to use the app i...
by spammagnet
Sun Aug 26, 2018 11:29 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for a Generous Grandparent?
Replies: 53
Views: 4384

Re: Suggestions for a Generous Grandparent?

We have only 2 children and are nowhere near having grandchildren. When the occasion arises, though, we will view gifts to grandchildren as being distinct from gifts to children. A contribution to a grandchild's college fund is just that. The intent is not to indirectly benefit our child's retiremen...
by spammagnet
Sun Aug 26, 2018 12:10 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for a Generous Grandparent?
Replies: 53
Views: 4384

Re: Suggestions for a Generous Grandparent?

Here's another idea. Something like (or actually) the Pennsylvania Guaranteed Savings Plan, which is essentially a prepaid college plan. She can buy prepaid credits for each grandkid. This would work around the problem of less time for the older kids money to grow. And would be fair...each grand ki...
by spammagnet
Sat Aug 25, 2018 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Is forming a LLC necessary for an independent contractor
Replies: 17
Views: 1626

Re: Is forming a LLC necessary for an independent contractor

Assuming salary levels that do not constitute tax evasion, does the S-corp's ability to contribute 25% of W2 earnings, combined with potentially reduced payroll taxes, not provide some net benefit at some level of LLC income? That's probably not in the range of the OP's hairstylist daughter, but can...
by spammagnet
Sat Aug 25, 2018 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Is forming a LLC necessary for an independent contractor
Replies: 17
Views: 1626

Re: Is forming a LLC necessary for an independent contractor

Not advising whether or not an LLC is necessary or advisable but you can elect for a single member LLC to be taxed as a corporation. There may be benefits to doing so, related to tax-deferred savings accounts and pass-through deductions.

Do the math.
by spammagnet
Fri Aug 24, 2018 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10713

Re: Take auto loan 0.9% if I can afford cash?

Because the manufacturer and the dealer are not the same entity, and do not necessarily have the same incentives. The manufacturer’s captive financing arm needs business and is driven by # of loans written; the dealer is driven by # of cars sold. So the financing arm will offer the dealer an incent...
by spammagnet
Mon Aug 20, 2018 12:15 am
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10713

Re: Take auto loan 0.9% if I can afford cash?

I will retire this year and buy a new (to us) car next year. We have little in the way of taxable investments. Large purchases require lump sum withdrawals from tax-deferred accounts, taxed at the marginal rate. We'll be in a higher bracket for a few years while DW continues to work. By taking a loa...
by spammagnet
Sun Aug 19, 2018 11:32 pm
Forum: Investing - Theory, News & General
Topic: A Returns Spreadsheet for Bogleheads
Replies: 243
Views: 55778

Re: A Returns Spreadsheet for Bogleheads

When the last provided account balance is $0, the spreadsheet doesn't report an error when the contribution/withdrawal/balance of succeeding months aren't provided. What's the easiest way to adopt v1.9 if I have a lot of data in 1.8? As I will be closing some accounts soon, it probably would be adv...
by spammagnet
Sat Aug 18, 2018 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 16
Views: 2085

Re: Has anyone used Income Strategy website/software?

I suggest you call them for some pointers on how to work with the program. They worked with me for about an hour at no charge to get a handle on how to make various changes. I'm certain your social security claiming strategy can be changed; however, the default is what will result in the most dolla...
by spammagnet
Sat Aug 18, 2018 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Apartment Decision After Divorce- Please evaluate my thinking
Replies: 33
Views: 3417

Re: Apartment Decision After Divorce- Please evaluate my thinking

Take what's available. You may find you have no reason to move, even if the opportunity becomes available.
by spammagnet
Sat Aug 18, 2018 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Rental home and paying off debt by refinancing primary home cash out
Replies: 9
Views: 866

Re: Rental home and paying off debt by refinancing primary home cash out

I'm not debt-averse as some are but I would be very uncomfortable pledging my primary residence for an investment of any kind.
by spammagnet
Sat Aug 18, 2018 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 105
Views: 13727

Re: Teachers Who Have Net Worth of $1 million +

cusetownusa wrote:
Sat Aug 18, 2018 1:18 pm
... Are you counting pensions in net worth? ...
Valuation methods may vary but that seems like a reasonable way to compare the value of a pension to the value of accumulated assets held by someone without a pension.
by spammagnet
Sat Aug 18, 2018 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Has anyone used Income Strategy website/software?
Replies: 16
Views: 2085

Re: Has anyone used Income Strategy website/software?

Prompted by this thread, I subscribed to the basic plan. Being able to cancel at any time makes that a low ante. I have a lot of experience with MaxiFi (primarily through its predecessor, ESPlanner Plus) and find its theoretical basis more appealing to my way of thinking. Instead of defining a desir...
by spammagnet
Fri Aug 10, 2018 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Biggest Threats to Financial Well-Being
Replies: 99
Views: 9506

Re: Biggest Threats to Financial Well-Being

I wouldn't list death on there. Maybe for your family, but with sufficient life insurance death is probably a financial windfall for them. Actually the risk to you, personally, is longevity. Agree that longevity is the greater financial risk. Disagree that life insurance should be viewed as a windf...
by spammagnet
Mon Aug 06, 2018 8:09 am
Forum: Personal Finance (Not Investing)
Topic: What prevents residential real estate buyers from colluding to bring down prices?
Replies: 32
Views: 2685

Re: What prevents residential real estate buyers from colluding to bring down prices?

Buyer collusion is prevented by the fact that all of them want it but only best bidder gets it.
by spammagnet
Sun Aug 05, 2018 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Pulled the trigger
Replies: 15
Views: 2913

Re: Pulled the trigger

... Just out of curiosity, if you care to share whether you've done anything in particular to address sequence-of-return risk early in retirement, I suspect that would also be of interest. Congrats! Thanks, and good luck to you in your plans, as well. With respect to sequence-of-returns risk, I wil...
by spammagnet
Sun Aug 05, 2018 11:01 pm
Forum: Personal Finance (Not Investing)
Topic: Pulled the trigger
Replies: 15
Views: 2913

Re: Pulled the trigger

Given your age and given that the bulk of your assets are in tax-deferred accounts, it's a good idea to make sure you understand the RMD requirements for your 401K/IRA and your wife's also. You have a few years before age 70 and it may make sense to get some of those funds into a Roth IRA. Same goe...
by spammagnet
Sun Aug 05, 2018 10:22 pm
Forum: Personal Finance (Not Investing)
Topic: Pulled the trigger
Replies: 15
Views: 2913

Re: Pulled the trigger

MandyT wrote:
Sun Aug 05, 2018 11:35 am
Congratulations! This is probably obvious, but it's probably a good idea to stay attuned to how your wife feels about things to head off any possible resentment.
I agree with the there importance of spousal agreement. This was a mutual decision.
by spammagnet
Sat Aug 04, 2018 10:40 pm
Forum: Personal Finance (Not Investing)
Topic: Will you pay for your kids' college/graduate education?
Replies: 366
Views: 15620

Re: Will you pay for your kids' college/graduate education?

I'm curious how much will you support your kids. ... If you are supporting, are you also paying for other expenses? DW and I were both in the first generation of our families to go to college. We were able to attend only because we got need-based financial aid, minimal loans and family support. (I ...
by spammagnet
Fri Aug 03, 2018 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: Comfort level with Credit Card Balance
Replies: 86
Views: 5766

Re: Comfort level with Credit Card Balance

By paying the statement balance, I've had, in effect, a permanent interest-free loan from my bank for the past 20 years. This is turning into a perplexing thread. All solvent people pay the statement balance -- what was owed at the close of the statement period. Additional charges accrue after the ...
by spammagnet
Fri Aug 03, 2018 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Comfort level with Credit Card Balance
Replies: 86
Views: 5766

Re: Comfort level with Credit Card Balance

Sorry for the confusion, but yes this is what I mean. I pay more than the "statement balance" of the previous month therefore do not incur any interest costs. Why pay more than the statement balance? Paying the statement balance in full avoids interest, as long as the previous balance was $0 or you...
by spammagnet
Fri Aug 03, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Comfort level with Credit Card Balance
Replies: 86
Views: 5766

Re: Comfort level with Credit Card Balance

Just wondering what's everyone's comfort level is with their credit card balance. I used to pay off my credit card balance every month but have been focusing on saving for a down payment for a duplex therefore my credit card isn't getting paid in full each month. I haven't had to pay CC interest fo...
by spammagnet
Fri Aug 03, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Pulled the trigger
Replies: 15
Views: 2913

Re: Pulled the trigger

Silk McCue wrote:
Fri Aug 03, 2018 3:12 pm
Congratulations on your step off the cliff.
I've used the same metaphor but, no, I still feel like I'm in freefall.
by spammagnet
Fri Aug 03, 2018 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Pulled the trigger
Replies: 15
Views: 2913

Pulled the trigger

I just turned in my resignation for retirement for early next month. I'm 63. There is some sense of trepidation but double/triple/quadruple checking my calculations using multiple tools makes it seem alright. I may pick up some contract gigs because it's interesting, potentially lucrative, and I'd a...
by spammagnet
Mon Jul 30, 2018 12:33 am
Forum: Personal Finance (Not Investing)
Topic: Air Conditioning? [How to finance?]
Replies: 76
Views: 5270

Re: Air Conditioning? [How to finance?]

chrischris wrote:
Mon Jul 30, 2018 12:19 am
How long is the 0% APR offer on cards these days?
12-15 months, it seems:
https://www.bankrate.com/credit-cards/0 ... cards.aspx
by spammagnet
Sun Jul 29, 2018 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Air Conditioning? [How to finance?]
Replies: 76
Views: 5270

Re: Air Conditioning?

That's an interesting thought I'd never considered. So, let's say you have 40,000 btu cooling and 80,000 btu heat, which seems to be a somewhat common combination. I take it the airflow doesn't correspond to the btu in each case? I'm not even slightly an expert in the field but my impression is tha...
by spammagnet
Sun Jul 29, 2018 11:45 pm
Forum: Personal Finance (Not Investing)
Topic: Are Credit Cards Actually Convenient?
Replies: 91
Views: 7213

Re: Are Credit Cards Actually Convenient?

Late reply, but you can mitigate travel-related card hassles by informing the bank in advance that you're going to travel. Many banks have a specific web page to do that. While I don't think you should be having the issues you describe, you can take steps to reduce them.
by spammagnet
Sun Jul 29, 2018 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Air Conditioning? [How to finance?]
Replies: 76
Views: 5270

Re: Air Conditioning? [How to finance?]

It seems unlikely that you would get the AC installed before the temperatures started to drop a bit. ... Prices should drop as demand drops, as well. Catch the contractors between summer AC demand and winter furnace demand. They're less busy then. Their bid may reflect their desire to win the job. ...
by spammagnet
Sun Jul 29, 2018 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Air Conditioning? [How to finance?]
Replies: 76
Views: 5270

Re: Air Conditioning?

... sounds like the ducting is all there and you only need the evaporator coil inside and the condenser unit outside ... I live in Florida where every house has central AC, but is it save to assume that duct work designed only for central heat is adequate for central AC? I believe AC requires a lot...
by spammagnet
Thu Jul 19, 2018 11:37 pm
Forum: Personal Finance (Not Investing)
Topic: Bond Investment vs. Paying Off Daughter's Student Loan and/or Rental Property Mortgage
Replies: 12
Views: 641

Re: Bond Investment vs. Paying Off Daughter's Student Loan and/or Rental Property Mortgage

If the OP would consider absorbing her $151K debt without it causing some kind of conflict in the family, go ahead. Otherwise, don't. I'm not suggesting she's a deadbeat, but things happen. If a bad loan would cause bad feelings, it could be an unwise decision for the family.
by spammagnet
Fri Jun 22, 2018 11:22 am
Forum: Personal Finance (Not Investing)
Topic: LTCi option - whole life w/ Continuation of benefits rider
Replies: 19
Views: 1594

Re: LTCi option - whole life w/ Continuation of benefits rider

I'm no expert on LTCI, but this sounds similar to a "hybrid" LTCI policy. Michael Kitces had an interesting post that points out how the benefit of the guaranteed premium on a hybrid policy can be offset by a below-market rate of return on the cash value: https://www.kitces.com/blog/is-the-ltc-cost...
by spammagnet
Tue Jun 19, 2018 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: LTCi option - whole life w/ Continuation of benefits rider
Replies: 19
Views: 1594

Re: LTCi option - whole life w/ Continuation of benefits rider

At a minimum I would recommend 3% inflation. In addition, the first two years of claims the benefit is the original benefit not with any inflation. That could be a substantial outlay. Initially when I reviewed these products this disadvantage was never explained. When I brought it up to company rep...
by spammagnet
Tue Jun 19, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: LTCi option - whole life w/ Continuation of benefits rider
Replies: 19
Views: 1594

Re: LTCi option - whole life w/ Continuation of benefits rider

Going to be in for a big surprise when you or spouse goes on claim in 20 or 25 years with these policies. Make sure you understand. I appreciate the warning. That's why I'm researching. If it has a 2% inflation rider and medical care inflation is 4.5%, that's 2.5% compounded over 20 years as a shor...
by spammagnet
Tue Jun 19, 2018 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: LTCi option - whole life w/ Continuation of benefits rider
Replies: 19
Views: 1594

Re: LTCi option - whole life w/ Continuation of benefits rider

One-America Asset Care Producer Guide That is the underwriter and product I was referred to but I did not have that brochure or details. The fact that it's labeled for producers makes me think I'd never see it from the salesperson I'm corresponding with. No mention was made of funding source. The p...
by spammagnet
Sun Jun 17, 2018 11:56 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 2924
Views: 576213

Re: What's Your Credit Card Rewards Strategy?

SlowMovingInvestor wrote:
Sun Jun 17, 2018 11:22 am
So -- is there any advantage to a Citi Sears Mastercard if one hardly ever shops at Sears/K-Mart ?
If you buy clothes from Lands' End, you can use your points there.
by spammagnet
Sat Jun 16, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: LTCi option - whole life w/ Continuation of benefits rider
Replies: 19
Views: 1594

Re: LTCi option - whole life w/ Continuation of benefits rider

Is the annual adjustment the inflation rider? I'm unclear on what you're asking, so it's good that you're asking. Can you elaborate on the question? How old are you and your spouse? 58 and 62, in good health. You need to compare with a traditional policy that offers lifetime benefits, only one is a...
by spammagnet
Sat Jun 16, 2018 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: can we afford to spend $20K on travel annually
Replies: 89
Views: 7549

Re: can we afford to spend $20K on travel annually

Exafchick wrote:
Fri Jun 15, 2018 10:09 am
Anyone else think 39 is a bit young to be considered middle aged?!
If you think of middle-aged as being at the middle of your life expectancy, it's a little on the young side but past early adulthood, for sure. In terms of career and family stages, they seem to be squarely in middle age.
by spammagnet
Sat Jun 16, 2018 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: LTCi option - whole life w/ Continuation of benefits rider
Replies: 19
Views: 1594

LTCi option - whole life w/ Continuation of benefits rider

As are others, we're evaluating LTC insurance and finding the standard options wanting. You're basically buying a pool of money and the cost is pretty much the same as the benefit. In speaking to an insurance agent we discussed our ability to pay for a few years out of pocket, but want to insure our...
by spammagnet
Sat Jun 16, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: add to DW 401k while withdrawing from (self) 403b?
Replies: 19
Views: 970

Re: add to DW 401k while withdrawing from (self) 403b?

gneeby wrote:
Sat Jun 16, 2018 9:40 am
For a married couple filing a joint return it doesn't matter which account, retiree or spouse, is converted, from ORP's modeling perspective. The decision will be based on other, non-model factors.
Thanks
by spammagnet
Fri Jun 15, 2018 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: add to DW 401k while withdrawing from (self) 403b?
Replies: 19
Views: 970

Re: add to DW 401k while withdrawing from (self) 403b?

One additional factor I can think of is assessing the quality/cost of your funds in your vs her 403b/401k. If you have high expense only options you don't like in yours, and hers is full of great low cost index funds, then you could take this opportunity to "move" the money. We have good choices in...
by spammagnet
Fri Jun 15, 2018 11:28 am
Forum: Personal Finance (Not Investing)
Topic: add to DW 401k while withdrawing from (self) 403b?
Replies: 19
Views: 970

Re: add to DW 401k while withdrawing from (self) 403b?

Regardless of when the match is paid out (and I agree the change is slimy), there is no good reason to pass up 8%. Although I couldn’t tell from your post if your wife is required to contribute 8% (or some other figure) to get the 8% match. She is required to contribute to get the match. We'll put ...
by spammagnet
Fri Jun 15, 2018 2:07 am
Forum: Investing - Help with Personal Investments
Topic: 35 and Need Help With Building Wealth
Replies: 55
Views: 7116

Re: 35 and Need Help With Building Wealth

... I like movies, tv, etc. I've considered cutting some of those expenses, but I've come to terms with certain luxuries I'm probably not going to cut. My daughter loves Netflix, I buy enough stuff on Amazon that the monthly expense pays for itself in shipping costs. When we scaled back on cable we...
by spammagnet
Thu Jun 14, 2018 11:39 pm
Forum: Personal Finance (Not Investing)
Topic: add to DW 401k while withdrawing from (self) 403b?
Replies: 19
Views: 970

Re: add to DW 401k while withdrawing from (self) 403b?

YIkes! What a steaming crock of *beep*. That's Megacorp for ya!! Not only take away some benefit, but insult their intelligence at the same time. Considering other ways they demonstrate their avarice, it doesn't surprise me. They haven't given raises for years. Instead, they give an annual bonus, t...