Search found 857 matches

by GuyInFL
Mon Mar 18, 2024 6:56 am
Forum: Personal Finance (Not Investing)
Topic: Corrected 1099s?
Replies: 4
Views: 284

Corrected 1099s?

Are folks seeing many corrected 10999s this year? I've been holding off filing just in case, but its been a few years since I've received an updated one.
by GuyInFL
Sun Mar 17, 2024 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Confused about 1099-Q and 1098-T
Replies: 19
Views: 1432

Re: Confused about 1099-Q and 1098-T

Here’s a good article on coordinating AOTC and 529 plans.
https://www.savingforcollege.com/articl ... 529%20plan.
by GuyInFL
Fri Mar 15, 2024 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Pension Protection: Life Insurance vs More Survivor Benefits?
Replies: 35
Views: 2555

Re: Pension Protection: Life Insurance vs More Survivor Benefits?

I’d go with 100% option. The weakest points in my retirement plan are when I die early. You could buy the ten year term, but it sounds like if you are doing that, it doesn’t cost much more than the 100% survivor option.
She’ll already be dropping from two Social Security checks to one.
by GuyInFL
Sun Mar 10, 2024 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question
Replies: 22
Views: 1499

Re: Tax question

Younglearner wrote: Sun Mar 10, 2024 2:03 pm Another question I do have is there any difference between turbotax and the freetaxusa? I ask this because my dad got the following from Costco- He got it on sale for like 64 I believe:
https://www.costco.com/turbotax-premier ... 26930.html
About $82. :D
by GuyInFL
Sun Mar 10, 2024 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question
Replies: 22
Views: 1499

Re: Tax question

Younglearner wrote: Sun Mar 10, 2024 1:43 pm Thanks so much for the reply! A quick question though is that the scholarship income would not count as earned income for Roth ira purpose, correct? Or will I find out when I file my taxes?
From what I read, scholarship $ can’t be counted as earned income for IRAs.
As for the taxability, it should be tax free if less than tuition/books. If you have scholarships exceeding that, it can be taxable. More details at

https://www.irs.gov/taxtopics/tc421

Also research AOTC and make sure your family takes advantage of that.
by GuyInFL
Sun Feb 18, 2024 8:31 am
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 945
Views: 150300

Re: Flaunt Your High-Mileage Car

GoldenFinch wrote: Fri Feb 16, 2024 3:58 am Hit 287K on 2008 Chrysler Town and Country minivan with “lifetime warranty.” It’s still useful.
Can you expand on the lifetime warranty? How has that worked out?
by GuyInFL
Sun Feb 04, 2024 8:12 am
Forum: Personal Investments
Topic: Highly Compensated Employee (HCE) and 401k
Replies: 8
Views: 1253

Re: Highly Compensated Employee (HCE) and 401k

Our company modified the plan after a couple years. She might want to reach out to the 401k committee to see if that is in the works.

However, 401(k) plans are exempt from yearly top-heavy testing if they are safe harbor 401(k) plans that receive minimum safe harbor contributions or elective deferrals.

https://smartasset.com/retirement/401k- ... d-employee
by GuyInFL
Sat Feb 03, 2024 8:14 pm
Forum: Personal Consumer Issues
Topic: Is Everyone's Info Really on the Dark Web?
Replies: 25
Views: 3359

Re: Is Everyone's Info Really on the Dark Web?

teelainen wrote: Fri Feb 02, 2024 12:21 pm Statistically speaking, what is the likelihood of your name and social security number being on the dark web?

Is it like 5% of all people? 20% of all people? 50% ?

We are trying to decide if we need to purchase this additional coverage from our monitoring service. They have an additional coverage called Dark Web Monitoring and Alerts. We are just not sure if we should purchase it or not.
Lots of good advice about freezing your credit.
If 50% is the chance of your data being on the Dark Web, I’d bet on over.
by GuyInFL
Fri Feb 02, 2024 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How to Strategically Allocate Savings
Replies: 10
Views: 952

Re: How to Strategically Allocate Savings

avidelta wrote: Fri Feb 02, 2024 7:42 am
GuyInFL wrote: Tue Dec 26, 2023 12:17 pm I’d probably go for some $ in a regular IRA for tax diversity. Your are in the 22% tax bracket and will be just under that (or 25%) in retirement (8K*120%=$115K) but some regular IRA would be helpful for QCDs.
I'm not sure I understand the benefit of the iIRA at this point. My income is too high to take the tIRA deduction.
Can you make traditional 403b contributions and covert that to a tIRA later? That would accomplish the same thing. Saving 22% on contributions and paying 12% on withdrawals or 0% on QCDs.
by GuyInFL
Sun Jan 28, 2024 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to distribute inheritance cash with siblings
Replies: 21
Views: 3191

Re: How to distribute inheritance cash with siblings

How much is in the checking account and how many siblings?
by GuyInFL
Sat Jan 27, 2024 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Can I think of retiring?
Replies: 26
Views: 4218

Re: Can I think of retiring?

worthit wrote: Fri Jan 26, 2024 3:29 pm

SS @ 70 if I quit today with no further income will be $45,336
SS @ 70 if I continue working will be $54,888
Spouse SS @62 will be $26,782
Have filled your 35 years of earnings? Probably doesn't matter but interesting to look at.
Ssa.tools is helpful for that.
by GuyInFL
Fri Jan 26, 2024 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: 20-30X income, is that the "retirement rut"?
Replies: 90
Views: 13512

Re: 20-30X income, is that the "retirement rut"?

delamer wrote: Fri Jan 26, 2024 6:49 pm Your investments routinely fluctuate by 5% or more a day?
+1
My thoughts
by GuyInFL
Wed Jan 24, 2024 9:53 pm
Forum: Personal Investments
Topic: 401k rollover: Company wants money back
Replies: 60
Views: 5266

Re: 401k rollover: Company wants money back

My company was bought. I had the option to roll my 401k to an IRA. I took it. I was well under 59.5 years old.
by GuyInFL
Tue Jan 23, 2024 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Timing Month of Retirement
Replies: 33
Views: 2418

Re: Timing Month of Retirement

If Rule of 55 applies to your 401k, definitely wait till then.
by GuyInFL
Mon Jan 22, 2024 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Tax Management
Replies: 11
Views: 926

Re: Tax Management

tictock81 wrote: Mon Jan 22, 2024 7:30 am The charitable contributions are made with post-tax dollars so I get the benefit when I get a tax return refund. I don't know about bunching deductions or Donor-Advised Funds.
Bunching means to to group charitable donations and maybe property taxes so they are paid every other year so you can take advantage of the standard deduction in alternate years.
With a DAF you donate every three or four years, hopefully with appreciated stock to supercharge the effect.

https://www.bogleheads.org/wiki/Donor_advised_fund
by GuyInFL
Sun Jan 21, 2024 7:13 pm
Forum: Investing - Theory, News & General
Topic: Investment advisors - what is the mandate
Replies: 36
Views: 3772

Re: Investment advisors - what is the mandate

I'm a financial advisor, and it's really interesting for me to read all this. For background on what I'm going to say... I work for an independent 2-person RIA. Both of us are CFPs. Neither of us is a lawyer or a CPA. We evaluate Roth conversions and other tax strategies for all clients every year, often several times a year, as clients experience changes in their financial situations. When we talk about our recommendations to our clients, we generally add that it would be good to get their CPA's blessing. We often have a standing permission to talk to the CPA anyway, and in some cases we reach out to them before we even talk to the client, and then we come to the client with a "consensus" advice. In some other cases, the client ...
by GuyInFL
Wed Jan 17, 2024 7:46 am
Forum: Personal Investments
Topic: 401k fees
Replies: 30
Views: 2170

Re: 401k fees

ball241 wrote: Sat Jan 13, 2024 7:55 am
GuyInFL wrote: Sat Jan 13, 2024 7:50 am Just call or email ADP. I asked my provider for the Summary Description Plan and they emailed it within 24 hours
Yes I read it says plan expenses paid from plan assets, I’m trying figure out this amount on a percentage basis.
I really just meant if you send them an email they may respond pretty quickly.
by GuyInFL
Wed Jan 17, 2024 7:43 am
Forum: Personal Investments
Topic: Treasury Direct - The Eternal Wait and No Way To Track Transfer
Replies: 70
Views: 12154

Re: Treasury Direct - The Eternal Wait and No Way To Track Transfer

BlueFin wrote: Sat Dec 09, 2023 7:44 am We called TD yesterday regarding the transfer of my Mother's I Bonds who died in May 2023. The transfer was initiated in July 2023. Their response was that it takes six months and today is four days short of six months so call back in four days. This doesn't seem reasonable for any organization...even the Government. Has anyone else had this experience?
I went through this last fall and was told it would take six months. Glad to see the streamlined the process and have it down to 13 weeks.
Still waiting…
by GuyInFL
Tue Jan 16, 2024 7:44 am
Forum: Forum Issues and Administration
Topic: Forum software upgrade bug reports and change requests
Replies: 709
Views: 281635

Re: Forum software upgrade bug reports and change requests

I've accidentally made a duplicate post a couple of times. Maybe teat for that and ask user to confirm if post is a duplicate or just have a pop up after you click submit, stating the comment was posted.
by GuyInFL
Tue Jan 16, 2024 7:37 am
Forum: Personal Investments
Topic: Keeping income below IRMAA Cut Offs
Replies: 14
Views: 2081

Re: Keeping income below IRMAA Cut Offs

Here's a finance buff link discussing a tool.
https://thefinancebuff.com/roth-convers ... irmaa.html
by GuyInFL
Sat Jan 13, 2024 7:50 am
Forum: Personal Investments
Topic: 401k fees
Replies: 30
Views: 2170

Re: 401k fees

Just call or email ADP. I asked my provider for the Summary Description Plan and they emailed it within 24 hours
by GuyInFL
Sat Jan 13, 2024 7:34 am
Forum: Personal Finance (Not Investing)
Topic: An unintended visit from "Aunt IRMAA"?
Replies: 35
Views: 5926

Re: An unintended visit from "Aunt IRMAA"?

This shows the 2023 IRMAA threshold as $194K for MFJ.
https://www.ssa.gov/legislation/2023factsheet.pdf
by GuyInFL
Wed Jan 10, 2024 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions - Underpayment Penalty - Form 2210
Replies: 27
Views: 2661

Re: Roth Conversions

My understanding from form 2210 is that only withholding is applied to safe harbor rules, not estimated taxes. So even though your total taxes payments were 110% of last years liability, your withholding during the year did not reach safe harbor. Thus, you did not pay your tax liability in a "timely" manner sometime during the year. You still have 6 days to make another deposit to cover tax liability for the 4th quarter, which includes the Roth and eliminate the penalty if the underpayment was in the last quarter. Try increasing your total estimated payments for the 4th quarter (the previous one and my proposed additional payment) such that the total payment for the 4th quarter is equal to your marginal tax bracket times the amou...
by GuyInFL
Wed Jan 10, 2024 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions - Underpayment Penalty - Form 2210
Replies: 27
Views: 2661

Re: Roth Conversions

My understanding from form 2210 is that only withholding is applied to safe harbor rules, not estimated taxes. So even though your total taxes payments were 110% of last years liability, your withholding during the year did not reach safe harbor. Thus, you did not pay your tax liability in a "timely" manner sometime during the year. You still have 6 days to make another deposit to cover tax liability for the 4th quarter, which includes the Roth and eliminate the penalty if the underpayment was in the last quarter. Try increasing your total estimated payments for the 4th quarter (the previous one and my proposed additional payment) such that the total payment for the 4th quarter is equal to your marginal tax bracket times the amou...
by GuyInFL
Wed Jan 10, 2024 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions - Underpayment Penalty - Form 2210
Replies: 27
Views: 2661

Re: Roth Conversions

My understanding from form 2210 is that only withholding is applied to safe harbor rules, not estimated taxes. So even though your total taxes payments were 110% of last years liability, your withholding during the year did not reach safe harbor. Thus, you did not pay your tax liability in a "timely" manner sometime during the year. You still have 6 days to make another deposit to cover tax liability for the 4th quarter, which includes the Roth and eliminate the penalty if the underpayment was in the last quarter. Try increasing your total estimated payments for the 4th quarter (the previous one and my proposed additional payment) such that the total payment for the 4th quarter is equal to your marginal tax bracket times the amou...
by GuyInFL
Wed Jan 10, 2024 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions - Underpayment Penalty - Form 2210
Replies: 27
Views: 2661

Re: Roth Conversions

Running Bum wrote: Wed Jan 10, 2024 2:19 pm Had you not done the conversion nor made that last est tax payment, would you still have an underpayment penalty?
Nope. I had plenty withheld, just not 110%
by GuyInFL
Wed Jan 10, 2024 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions - Underpayment Penalty - Form 2210
Replies: 27
Views: 2661

Re: Roth Conversions

tibbitts wrote: Wed Jan 10, 2024 2:06 pm You might change the subject to add the Form 2210 issue, since that's what you're posting about. I'm not sure if you're asking a question. I also did a large end-of-year conversion and assumed(?) I wouldn't owe a penalty, because withholding plus my payment-from-2022-refund (so, Q1 I assume) combined was 110% of last year's tax, but I have a feeling the tax software will tell me I at least might owe a penalty.
Title changed.
Yes, if I had made sure my withholding was 110% of last year's tax, I would have been fine. As I learned, estimated tax and withholding are different things.
by GuyInFL
Wed Jan 10, 2024 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions - Underpayment Penalty - Form 2210
Replies: 27
Views: 2661

Re: Roth Conversions

nalor511 wrote: Wed Jan 10, 2024 1:25 pm Sounds like you did the right thing but didn't quite pay enough, or soon enough. Is there a question?
No real question. I'd read a lot of posts saying to make sure you withheld 110% to be in Safe Harbor and avoid penalties, so I was surprised I had a penalty due and wanted to pass on the info. It's only $36, so not a big deal.
by GuyInFL
Wed Jan 10, 2024 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversions - Underpayment Penalty - Form 2210
Replies: 27
Views: 2661

Roth Conversions - Underpayment Penalty - Form 2210

So I bit the bullet and did a substantial Roth Conversion at the end of December and then made an estimated tax payment using the Electronic Federal Tax Payment System (EFTPS) to ensure I paid 110% of last years taxes. After reading Tryingtogetbetter 's thread https://www.bogleheads.org/forum/viewtopic.php?p=7645463#p7645463 I decided to check out Form 2210 using FreeTaxUSA to see if any penalty applied. Turns out there is a penalty of $40 in addition to five figures worth of additional tax for the Roth Conversion. I looked at the "annualization" option, which FreeTaxUSA recommends if you have more income at the end of the year and that dropped the penalty to $36. I tried changing the filing date from April 15th, 2024 to Feb 1st, ...
by GuyInFL
Tue Jan 09, 2024 3:48 pm
Forum: Personal Investments
Topic: How do I stand?
Replies: 28
Views: 3932

Re: How do I stand?

Sunshine98 wrote: Tue Jan 09, 2024 1:14 pm Trying to do a better Job on expense tracking: 30 K for main utilities (gas, water, phone, tv, internet etc.). No factoring in gas for car, groceries, anything bought with a credit card (paid in full all the time). But i Know I need to clamp down and keep track of it all better.
A simple way to approach this is to take your total income, subtract income and FICA taxes, next subtract amount saved during the year. What is left are your expenses. You’ll need to make adjustments for healthcare.
by GuyInFL
Tue Jan 09, 2024 3:34 pm
Forum: Personal Consumer Issues
Topic: Customs in Atlanta airport and a few questions
Replies: 11
Views: 1760

Re: Customs in Atlanta airport and a few questions

Flying domestic to Atlanta on a Delta Connect flight then to London on Virgin. Booking everything with Virgin. Questions 1 - How much time should we allow for customs? We do not have Global entry but I read that MPC should help so I've downloaded that app. Question 2 - Do you check our bags all the way to our final destination or do we have to pick them up from the domestic terminal and take them to the International Terminal? It's been many years since I've been in Atlanta and I didn't realize there are two terminals (read somewhere that the domestic terminal requires a bus ride). I've only ridden the train from concourse to concourse but have not left internationally from this airport before. Thanks!! You’ll see the ATL airport described...
by GuyInFL
Sat Jan 06, 2024 11:15 am
Forum: Personal Consumer Issues
Topic: Freetaxusa vs Turbotax
Replies: 121
Views: 16806

Re: Freetaxusa vs Turbotax

I also find FreeTaxUSA pretty responsive. I’ve submitted questions a couple of times and they’ve responded within 24 hours.
I’m not a premium subscriber.
by GuyInFL
Thu Dec 28, 2023 11:18 am
Forum: Personal Investments
Topic: Roth Conversions
Replies: 1
Views: 434

Roth Conversions

Did my first Roth Conversion at E-Trade today. Pretty painless (except the taxes). Transferred shares in-kind plus a little cash. All online and it took about an hour to process :), although the form said it would take one-two business days :( . I used the the Boglehead Personal Finance Toolkit and confirmed the taxes with FreeTaxUSA. I did see a marginal tax bump for NIT but other than that everything went as expected in the 22% & 24% brackets. One thing I had wondered about was if the conversion would impact my ability to make a Roth IRA contribution in 2023. Reviewing IRS Pub 590A, Worksheet 2-1, I see Roth Conversions are subtracted out (line 2) so they don't affect the income restrictions for Roth contributions. The E-Trade online ...
by GuyInFL
Tue Dec 26, 2023 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: How to Strategically Allocate Savings
Replies: 10
Views: 952

Re: How to Strategically Allocate Savings

I’d probably go for some $ in a regular IRA for tax diversity. Your are in the 22% tax bracket and will be just under that (or 25%) in retirement (8K*120%=$115K) but some regular IRA would be helpful for QCDs.
by GuyInFL
Tue Dec 26, 2023 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Credit card recommendation: one card to rule them all?
Replies: 95
Views: 13888

Re: Credit card recommendation: one card to rule them all?

And just leave the credit cards open if they don’t have a fee. Use them twice a year to keep them active to maintain a high credit score.
by GuyInFL
Fri Dec 22, 2023 7:01 am
Forum: Personal Investments
Topic: Early withdrawal penalty for inherited CDs
Replies: 8
Views: 800

Re: Early withdrawal penalty for inherited CDs

If you make 4x the amount by withdrawing early, I don't see how it would be advantageous to not do so, even with higher tax rates. The bonus is closing the estate earlier.
by GuyInFL
Thu Dec 21, 2023 6:47 am
Forum: Personal Finance (Not Investing)
Topic: 529 distributions - scholarships
Replies: 6
Views: 1136

Re: 529 distributions - scholarships

lakpr wrote: Mon Dec 18, 2023 7:30 am
GuyInFL wrote: Mon Dec 18, 2023 6:48 am Do you have a reference for your same year comment?
No. I stumbled upon the same Investopedia article in my search, but am taking the personal stance that the scholarship money should be removed from the 529 plan in the same calendar year. Hence the "I believe". If paying Spring tuition in December of the preceding year causes angst for the purposes of AOTC (multiple posts in these forums) and the consensus is that it is better to pay the tuition fee in the same calendar year, it is but an extrapolation of the same argument for withdrawal of 529 money against scholarships.
I think your approach is the lowest risk and what I've done to date.
by GuyInFL
Mon Dec 18, 2023 6:48 am
Forum: Personal Finance (Not Investing)
Topic: 529 distributions - scholarships
Replies: 6
Views: 1136

Re: 529 distributions - scholarships

I believe the distribution of the amount from 529 plan equal to the scholarship amount must take place in the same calendar year as the one the scholarship had been received. This is not like an HSA where you can hold on to receipts from past medical expenses and reimburse yourself all at once at your choice and convenience. It is more akin to an FSA with its use-it-or-lose-it principle. Do you have a reference for your same year comment? https://www.investopedia.com/news/penaltyfree-way-get-529-money-back/ The timing of a 529 plan distribution based on a scholarship has been a subject of debate among tax experts since Section 529 was incorporated into Public Law 104-188 in 1996. Neither Congress nor the Internal Revenue Service (IRS) offe...
by GuyInFL
Sun Dec 17, 2023 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Question on 401k employer match - solved!
Replies: 76
Views: 10773

Re: Shorted on 401k employer match

This happened to me one year. The plan was pretty silent about what happened if you max'd out early. After I asked HR, the modified the web site to make it pretty explicit.
Next problem with HCE. Fortunately after a couple years, they implemented a 'safe harbor' contribution and the HCE problems went away.
by GuyInFL
Fri Dec 15, 2023 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: When Did You Feel Financially Secure and Comfortable?
Replies: 134
Views: 29416

Re: When Did You Feel Financially Secure and Comfortable?

My mother recently reminded us of times my Dad would live for the day and was always generally comfortable (and spent) within his means. He really did live a good yet relatively short life. There are folks in the middle (not scarcity/cheap/frugal to a point of missing out & also not extravagant, spendy, showy and in debt). I’m glad my Dad showed us this happy middle path. Most of the rest in my family are struggling to figure out this middle ground. I feel lucky for my upbringing which was working class yet very rich ironically (happy times on cheap vacations, weekend trips (free/local), usually great family/friends get togethers. We’re all work in progress on this topic I feel. It is easy to keep peddling on the hamster wheel while th...
by GuyInFL
Fri Dec 15, 2023 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring at age 40 with $2.4M
Replies: 210
Views: 134460

Re: Retiring at age 40 with $2.4M

I "retired" 10 years ago at age 42 (widowed stay at home mom) with 2 million, a paid off house in a mcol area, and a history of frugal living. Kids were 10 and 14. I was nervous about it then for a variety of reasons. Now I'm 52, on year 6 out of 8 of paying for college expenses, have started taking more expensive annual vacations with my kids, replaced my 1997 vehicle with a new rav4 in 2019, and just passed the 3m mark. I'm feeling much better! I spend about 50k/year + 30k/year more on college. The kids and I received social security survivor's benefits for the first 4, 6 and 8 years. I'm currently invested 55% stocks, 35% bonds, 10% cash. The stock market went up up up, then DOWN, and now back up. Some things to think about: H...
by GuyInFL
Fri Dec 15, 2023 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: When Did You Feel Financially Secure and Comfortable?
Replies: 134
Views: 29416

Re: When Did You Feel Financially Secure and Comfortable?

Rudedog wrote: Thu Dec 14, 2023 8:51 am I felt financially comfortable when (1) my children were through college and off my payroll, (2) my mortgage was paid off
And I could generate 100K in income, based on the 4% rule. I have a 50K military pension.
And I’m still working a few years later. Go figure.
by GuyInFL
Fri Dec 15, 2023 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring at age 40 with $2.4M
Replies: 210
Views: 134460

Re: Retiring at age 40 with $2.4M

I "retired" 10 years ago at age 42 (widowed stay at home mom) with 2 million, a paid off house in a mcol area, and a history of frugal living. Kids were 10 and 14. I was nervous about it then for a variety of reasons. Now I'm 52, on year 6 out of 8 of paying for college expenses, have started taking more expensive annual vacations with my kids, replaced my 1997 vehicle with a new rav4 in 2019, and just passed the 3m mark. I'm feeling much better! I spend about 50k/year + 30k/year more on college. The kids and I received social security survivor's benefits for the first 4, 6 and 8 years. I'm currently invested 55% stocks, 35% bonds, 10% cash. The stock market went up up up, then DOWN, and now back up. Some things to think about: H...
by GuyInFL
Thu Dec 14, 2023 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 529 withdrawal strategies?
Replies: 16
Views: 1908

Re: 529 withdrawal strategies?

Does full ride include room & board or all the expenses listed here?
https://www.savingforcollege.com/articl ... a-529-plan
If it does, are you having your son pay the taxes at his lower rate?
by GuyInFL
Wed Dec 13, 2023 7:15 am
Forum: Investing - Theory, News & General
Topic: Help with math on number of millionaire households
Replies: 16
Views: 3965

Re: Help with math on number of millionaire households

A lot of times NW surveys exclude home equity. I didn't see the exclusion in the WSJ article.
I find it interesting that pensions aren't addressed. Seems like a present value calculation would be reasonable. Adding that would bump up the number of millionaires a bit more.
by GuyInFL
Mon Dec 11, 2023 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 317
Views: 69865

Re: Those with high savings rate: why?

watchnerd wrote: Sun Dec 10, 2023 6:27 pm No regrets here, I blew lots of money in my 30s on fast cars, wine, women, and song.
…and the rest I wasted!