Search found 6312 matches

by smitcat
Fri Sep 18, 2020 3:24 pm
Forum: Investing - Theory, News & General
Topic: what percent of retirement should be invested in tax deferred vs tax free accounts?
Replies: 39
Views: 2861

Re: what percent of retirement should be invested in tax deferred vs tax free accounts?

Since you cannot know what tax rates will be when you retire, how can anyone know if Roth or 401k would be better? You have your tax rates now, you have your plans for the future, and you have historical data for past taxes. In our case that was more than sufficient to make a very good call. I had ...
by smitcat
Fri Sep 18, 2020 3:17 pm
Forum: Personal Investments
Topic: Halfway to retirement (41), financial goals set, how to improve our prospects for success?
Replies: 6
Views: 718

Re: Halfway to retirement (41), financial goals set, how to improve our prospects for success?

"3. Is it possible we are “over-saving” for retirement given the FRS pension?" Yes - you are.(target of 55-60 and $4.3) You are figuring on a low drawdown while simultaneoulsy completely discounting both a solid pension and SS. But if you are good with this savings rate you will be well ahead of plan.
by smitcat
Fri Sep 18, 2020 3:08 pm
Forum: Investing - Theory, News & General
Topic: what percent of retirement should be invested in tax deferred vs tax free accounts?
Replies: 39
Views: 2861

Re: what percent of retirement should be invested in tax deferred vs tax free accounts?

With the "all things equal", I intentionally omitted a detail: Sure, $5000 in a Roth is more than $5000 in a Traditional. The astute person would note that $5000 in a Roth equal $7000 in a Traditional. (Technically, it's $6,849.31 at a 37% tax rate, but I digress....) So in theory, you could contri...
by smitcat
Fri Sep 18, 2020 3:06 pm
Forum: Investing - Theory, News & General
Topic: what percent of retirement should be invested in tax deferred vs tax free accounts?
Replies: 39
Views: 2861

Re: what percent of retirement should be invested in tax deferred vs tax free accounts?

RAchip wrote: Fri Sep 18, 2020 2:05 pm Since you cannot know what tax rates will be when you retire, how can anyone know if Roth or 401k would be better?
You have your tax rates now, you have your plans for the future, and you have historical data for past taxes.
In our case that was more than sufficient to make a very good call.
by smitcat
Fri Sep 18, 2020 9:05 am
Forum: Investing - Theory, News & General
Topic: what percent of retirement should be invested in tax deferred vs tax free accounts?
Replies: 39
Views: 2861

Re: what percent of retirement should be invested in tax deferred vs tax free accounts?

There are other factors besides math and tax rates. I am in the highest federal tax bracket and I max out my 401k as Roth. My income is likely much higher now than it will be in retirement. Put simply, paying the tax now hurts less than it will in the future. Plus, my taxable account is many times ...
by smitcat
Thu Sep 17, 2020 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: How to get over finance envy
Replies: 311
Views: 43609

Re: "What are we doing wrong and what are "THEY" doing right!?"

I would rather be your neighbor, living in hock up to my eyeballs, enjoying every day of my life in a frivolous fashion, than to be some misery Scrooge leaving millions unspent on their demise. I would rather be the miserly Scrooge with millions left at death. If I were in hock up to my eyebrows, I...
by smitcat
Thu Sep 17, 2020 7:45 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance (LTC)
Replies: 10
Views: 1034

Re: Long Term Care Insurance (LTC)

Original Poster here. After reaching out to the company, I’ve learned that “compound inflation” is 5% compounded annually. They gave me updated payout limits as of 1/1/2020: $2,653 monthly maximum - facility $1,591 monthly maximum - assisted living facility 60% $1,326 monthly maximum - professional...
by smitcat
Thu Sep 17, 2020 2:03 pm
Forum: Personal Investments
Topic: Franchises
Replies: 11
Views: 1119

Re: Franchises

Hi all, Sort of random I was curious to see if anyone in this forum has thought about being a franchise owner, or went ahead and made the leap to do so? If so, which company did you go for and why? I'm very early in my career, am currently trying to relearn some Javascript and such for additional s...
by smitcat
Thu Sep 17, 2020 10:33 am
Forum: Investing - Theory, News & General
Topic: what percent of retirement should be invested in tax deferred vs tax free accounts?
Replies: 39
Views: 2861

Re: what percent of retirement should be invested in tax deferred vs tax free accounts?

There have been several threads on when to use a Tax Deferrd (e.g. 401K) vs. a Roth, you can use the Search box in the upper Right hand corner. [OT comment removed by admin LadyGeek] Nonetheless--in the absence of tax rate arbitrage (which is virtually impossible to know in advance), there is no ad...
by smitcat
Wed Sep 16, 2020 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Potential Retirement Relocation - Tampa, Clearwater Florida area
Replies: 13
Views: 1046

Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Flood insurance is a must for the locations near the ocean. Humility101 Please can you explain, whether we do need to purchase the flood insurance or I read somewhere there is no flood insurance, so we are on our own if there is a flood ? Researching this topic. Here's some helpful information rega...
by smitcat
Wed Sep 16, 2020 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Potential Retirement Relocation - Tampa, Clearwater Florida area
Replies: 13
Views: 1046

Re: Potential Retirement Relocation - Tampa, Clearwater Florida area

Potential Retirement Relocation - Tampa, Clearwater Florida area We are in the discussion an research phase for a relocation trendiness towards a retirement / semi retirement. This time, we do need the analysis around the Tampa, Clearwater Florida area. We do have friends there and talk great about...
by smitcat
Wed Sep 16, 2020 8:11 am
Forum: Personal Consumer Issues
Topic: Is this guy trying to scam me on a car I'm selling?
Replies: 171
Views: 12366

Re: Is this guy trying to scam me on a car I'm selling?

I listed a $13,000 car on Facebook for well above book value because of very low mileage and its a low production Mercedes stick. First thing he asks is for my email because he "can't type well on his phone". I give him a throwaway email. Then he emails me this message, Sir, First of all, I want to...
by smitcat
Tue Sep 15, 2020 7:31 am
Forum: Personal Finance (Not Investing)
Topic: Hawaii state tax- too good to be true
Replies: 44
Views: 5307

Re: Hawaii state tax- too good to be true

I will observe that the cost of living in Hawaii is quite a bit higher than stateside . They import almost everything.... But it's sunny there! Sorry, but... Mainland, not stateside. “Stateside” tends to irk Hawaii residents. :D :beer I grovel in mortification. Of course I knew better, and I wonder...
by smitcat
Tue Sep 15, 2020 7:28 am
Forum: Personal Finance (Not Investing)
Topic: Hawaii state tax- too good to be true
Replies: 44
Views: 5307

Re: Hawaii state tax- too good to be true

I will observe that the cost of living in Hawaii is quite a bit higher than stateside . They import almost everything.... But it's sunny there! Sorry, but... Mainland, not stateside. “Stateside” tends to irk Hawaii residents. :D :beer I grovel in mortification. Of course I knew better, and I wonder...
by smitcat
Tue Sep 15, 2020 7:17 am
Forum: Personal Finance (Not Investing)
Topic: What Are the Actual Fees and Fee Types at Edward Jones?
Replies: 20
Views: 3084

Re: What Are the Actual Fees and Fee Types at Edward Jones?

Yes, very atrocious. That is just page 33 of the 54 pages. If you have an account you'd have to scan most of these pages and then add up all the fees associated to what assets you have and what financial-related activity you are performing. You have to watch the wording as stocks are not mutual fun...
by smitcat
Tue Sep 15, 2020 6:56 am
Forum: Personal Consumer Issues
Topic: Best platform for selling used car?
Replies: 20
Views: 1821

Re: Best platform for selling used car?

Hi all, following up on this...how do you deal with test drives? Ride along with Buyer? Something else? Any test drives occurr after a price and details have been agreed upon (how much, when, how paid ,etc) There is absolutely no reasons anyone should take your car without you in it - please ensure...
by smitcat
Mon Sep 14, 2020 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

"we ARE observing oil that is MUCH dirtier than I have seen in other vehicles within only a few thousand miles after an oil change." Did you have the oil tested? No, I have not tested the dirty oil. Good suggestion. How would I do that, and what would I test for? How would I use the results? To sup...
by smitcat
Mon Sep 14, 2020 9:49 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

To the OP, if you meet your savings goals, it doesnt matter what you spend your money on. (cars, travel, dating, philanthropy, education, etc.) :thumbsup Save first, then you can spend as you wish with whatever remains. Absolutely - meet savings goals and spend away at whatever brings happiness/val...
by smitcat
Mon Sep 14, 2020 9:46 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

"The purchase price of any vehicle should be low enough so when you sell it, you will have only spent ~$1000 per year in depreciation." Would it not make more sence to combine the costs of depreciation along with any repairs/maintenance required in any year by year guideline? Our metric has always ...
by smitcat
Mon Sep 14, 2020 6:51 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

To the OP, if you meet your savings goals, it doesnt matter what you spend your money on. (cars, travel, dating, philanthropy, education, etc.) :thumbsup Save first, then you can spend as you wish with whatever remains. Absolutely - meet savings goals and spend away at whatever brings happiness/val...
by smitcat
Mon Sep 14, 2020 6:49 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

About: 30m. 72k salary (not including 30-40k side income; volatile and don't like to include it). Living at home due to covid saving on rent. Networth: 230k I need a new car badly...current car is at 200k miles. I want to buy a 2018 Honda Accord 2.0t with 30-60k miles. The cost will be 22-25k. I'd ...
by smitcat
Sun Sep 13, 2020 11:42 am
Forum: Investing - Theory, News & General
Topic: Jane Bryant Quinn, stock allocation before / after retirement
Replies: 40
Views: 6189

Re: Jane Bryant Quinn, stock allocation before / after retirement

flyingaway wrote: Sun Sep 13, 2020 10:31 am If you have enough, why bother those complicated glide paths?

When you are in your 80s, will you have the desire, ability, and willingness to take more risk? (i.e., more equity).
If you are in your 80's and have more than enough yuo are investing for other generations and/or charities.
by smitcat
Sun Sep 13, 2020 8:51 am
Forum: Personal Finance (Not Investing)
Topic: How to respond to poor life decision affecting job
Replies: 32
Views: 4521

Re: How to respond to poor life decision affecting job

Depending upon how well document the company's policy about working remotely and what you were told by HR and your manager, you may have a legal case against the company. Inconsistency on policies is usually very actionable legally. Of course, returning to the company under those circumstances may ...
by smitcat
Sun Sep 13, 2020 8:46 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

About: 30m. 72k salary (not including 30-40k side income; volatile and don't like to include it). Living at home due to covid saving on rent. Networth: 230k I need a new car badly...current car is at 200k miles. I want to buy a 2018 Honda Accord 2.0t with 30-60k miles. The cost will be 22-25k. I'd ...
by smitcat
Sat Sep 12, 2020 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Business vehicle tax law
Replies: 2
Views: 260

Re: Business vehicle tax law

My wife started her own florist business earlier this year and has reached the point where we need to buy her a larger vehicle for the business. We’re buying an SUV and I’m trying to understand the tax consequences. I’ve been reading the applicable IRS publication but am struggling to put it all to...
by smitcat
Fri Sep 11, 2020 11:31 am
Forum: Personal Consumer Issues
Topic: Do you have a lot of "actions" in your retirement life?
Replies: 68
Views: 7303

Re: Do you have a lot of "actions" in your retirement life?

I find reading books, hiking, and my other "trivial" hobbies to be far more "meaningful" than my job. The only value I get from work is money. Money is a very important part of one's life, both pre and after retirement. Money cannot solve all problems, but no money is a problem. Of course it is. My...
by smitcat
Fri Sep 11, 2020 6:56 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

The difference in owning a new luxury $60k car vs a 10 year old Honda is about $5k to $7k in annual incremental depreciation and insurance costs. This statement is inaccurate. Think about it.... A $60,000 car often costs significantly more in parts, labor, maintenance, and insurance, than a 10-year...
by smitcat
Thu Sep 10, 2020 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

The difference in owning a new luxury $60k car vs a 10 year old Honda is about $5k to $7k in annual incremental depreciation and insurance costs. This statement is inaccurate. Think about it.... A $60,000 car often costs significantly more in parts, labor, maintenance, and insurance, than a 10-year...
by smitcat
Thu Sep 10, 2020 11:20 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

I do understand your anti-consumerism mindset and of course there’s merit to it. My issue is that often it is applied unfairly to cars. Holding all else equal, someone would spends $5k per year on a car (e.g. a $50k car kept for 10 years) is spending just as much as someone who spends $5k per year ...
by smitcat
Thu Sep 10, 2020 9:19 am
Forum: Personal Finance (Not Investing)
Topic: What % of income to spend on car?
Replies: 122
Views: 7937

Re: What % of income to spend on car?

You should buy a 2005 accord for $5000. And drive it for 10 years. I make $200,000 and drive a $4000 22-year-old Japanese car. I am a similar age. It’s reliable, safe, and I am free. Stop burdening yourself with needless consumerism that will impede your long-term wealth generation. Don’t underesti...
by smitcat
Wed Sep 09, 2020 11:36 am
Forum: Personal Consumer Issues
Topic: Do you have a lot of "actions" in your retirement life?
Replies: 68
Views: 7303

Re: Do you have a lot of "actions" in your retirement life?

Do you have a lot of "actions" in your retirement life that make you happy and feel enganed? For me, this is probably more important than the finance part of the retirement preparedness. Actions? none at all really, but then we are introverts. Been retired 16 yrs this Oct. I'm also an introvert. Th...
by smitcat
Wed Sep 09, 2020 8:37 am
Forum: Investing - Theory, News & General
Topic: Jane Bryant Quinn, stock allocation before / after retirement
Replies: 40
Views: 6189

Re: Jane Bryant Quinn, stock allocation before / after retirement

There are many factors to consider -- here are some: 1. Age of retirement and will you or your employer make that decision? 2. Health - current and projected based on parental health? Do you have/need LTC insurance? 3. What dollar draw down be needed cover your "normal" expenses. 4. Will you have a...
by smitcat
Wed Sep 09, 2020 7:38 am
Forum: Personal Consumer Issues
Topic: What do you guys think of oil extractors?
Replies: 67
Views: 2953

Re: What do you guys think of oil extractors?

Hi guys, after reading some interesting reviews about them, I'm actually considering investing in an oil extractor to speed up my DIY oil changes on my 2019 Ford Fiesta. What do you guys think of them? Does anybody use one? :?: We have two of them from our boating needs - they work fine but still c...
by smitcat
Tue Sep 08, 2020 2:23 pm
Forum: Personal Consumer Issues
Topic: What do you guys think of oil extractors?
Replies: 67
Views: 2953

Re: What do you guys think of oil extractors?

The mightyvac extractor works decently, but you have to make sure that the rubber plugs that join the extracting tubes stay tight against the tubes so that you're sucking oil and not sucking air. I've had to put a hose clamp on those plugs to make sure they are tight enough. It takes more pumping a...
by smitcat
Tue Sep 08, 2020 10:56 am
Forum: Personal Consumer Issues
Topic: What do you guys think of oil extractors?
Replies: 67
Views: 2953

Re: What do you guys think of oil extractors?

I have an extractor and find it super convenient - love it. I suppose if you were really concerned that it does not get every drop of old oil out of the pan, you could pour a clean quart in after extracting - then extract that. It would seem like overkill and would waste a clean quart, but surely t...
by smitcat
Tue Sep 08, 2020 8:33 am
Forum: Personal Consumer Issues
Topic: What do you guys think of oil extractors?
Replies: 67
Views: 2953

Re: What do you guys think of oil extractors?

Oil extractors do not get all of the thick sludge and particles that get washed out when the oil pan drain plug is removed. But, if oil extractors make the job easier, then it might be done more regularly and that is an advantage over not changing oil as frequently as one should. I don't believe th...
by smitcat
Tue Sep 08, 2020 8:15 am
Forum: Personal Consumer Issues
Topic: What do you guys think of oil extractors?
Replies: 67
Views: 2953

Re: What do you guys think of oil extractors?

Oil extractors do not get all of the thick sludge and particles that get washed out when the oil pan drain plug is removed. But, if oil extractors make the job easier, then it might be done more regularly and that is an advantage over not changing oil as frequently as one should. So, it depends. Wh...
by smitcat
Tue Sep 08, 2020 8:04 am
Forum: Personal Consumer Issues
Topic: What do you guys think of oil extractors?
Replies: 67
Views: 2953

Re: What do you guys think of oil extractors?

Oil extractors do not get all of the thick sludge and particles that get washed out when the oil pan drain plug is removed. But, if oil extractors make the job easier, then it might be done more regularly and that is an advantage over not changing oil as frequently as one should. So, it depends. Wh...
by smitcat
Tue Sep 08, 2020 8:03 am
Forum: Personal Consumer Issues
Topic: What do you guys think of oil extractors?
Replies: 67
Views: 2953

Re: What do you guys think of oil extractors?

Hi guys, after reading some interesting reviews about them, I'm actually considering investing in an oil extractor to speed up my DIY oil changes on my 2019 Ford Fiesta. What do you guys think of them? Does anybody use one? :?: We have two of them from our boating needs - they work fine but still c...
by smitcat
Tue Sep 08, 2020 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Quit corporate job @ age 34 with $1.3M?
Replies: 225
Views: 21817

Re: Quit corporate job @ age 34 with $1.3M?

I'm really envious of all these hard working underfunded guys retiring early while their wives work on... LOL - my first thought was, no way in my household am I working to ensure security while DH isn’t bustling his butt at a job. Wife-FIRE isn’t gonna happen over here... 8-) My second thought was...
by smitcat
Mon Sep 07, 2020 12:03 pm
Forum: Personal Investments
Topic: Investing in small and/or local businesses
Replies: 9
Views: 573

Re: Investing in small and/or local businesses

Hi, Does anyone know if an individual can invest in small and/or local businesses? What is the mechanics? Do you have first hand experience? What are some of the gotchas? Are there any reputable forums providing information about such businesses? Thanks, -ssn Local angel investing groups - perhaps ...
by smitcat
Sun Sep 06, 2020 7:34 am
Forum: Personal Consumer Issues
Topic: Moving to Florida - Cost Categories
Replies: 15
Views: 1438

Re: Moving to Florida - Cost Categories

Relative to Long Island, NY where I'm from, virtually everything is less expensive with the exception of water bills. The biggest difference is a much lower property tax bill, lower home ownership prices and heating costs (virtually zero). Also, "Broadway-type" shows are considerably less expensive...
by smitcat
Sat Sep 05, 2020 1:02 pm
Forum: Personal Consumer Issues
Topic: Do you have a lot of "actions" in your retirement life?
Replies: 68
Views: 7303

Re: Do you have a lot of "actions" in your retirement life?

"Do you have a lot of "actions" in your retirement life that make you happy and feel enganed?"

Boating, cars, zoos, volunteering, building small things, hiking, theme parks, museums, reading, home gym, beach walks...
by smitcat
Sat Sep 05, 2020 12:51 pm
Forum: Personal Consumer Issues
Topic: Moving to Florida - Cost Categories
Replies: 15
Views: 1438

Re: Moving to Florida - Cost Categories

So I'm retiring and moving from a state in the Mid Atlantic (Virginia) to Florida. I have been living close to DC, so a metro area with a high cost of living due to housing costs. I am trying to estimate the cost differences and have come up with various categories, *this is not scientific, this is...
by smitcat
Sat Sep 05, 2020 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Options for sheltering assets(monies) college - Is life insurance only option?
Replies: 44
Views: 2439

Re: Options for sheltering assets(monies) college - Is life insurance only option?

I met with new advisor on prepping for my HS senior's college finances. We will fill out FAFSA then the CSS profile for highly selective universities. I am being told that sheltering money in a whole Life insurance is the only/best option. For the CSS profile, universities review annuities, mutual ...
by smitcat
Fri Sep 04, 2020 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Continuing Care Retirement Community Entrance Fee
Replies: 106
Views: 7244

Re: Continuing Care Retirement Community Entrance Fee

CCRCs are Ponzi schemes. New entry fees go to support existing residents. There is seldom any leeway if occupancy levels fall because of something like this virus. We are on list for well respected ccrc but even before the pandemic its largest asset was goodwill which has no $$value. So you are at ...
by smitcat
Thu Sep 03, 2020 6:38 am
Forum: Investing - Theory, News & General
Topic: What is your age and asset allocation ?
Replies: 246
Views: 14622

Re: What is your age and asset allocation ?

As a data person, I compiled the %equities across all of the people posting so far in this thread and made a graph. I don't have rights to post images on this site, otherwise I would share the graph. Putting responses into different age buckets, here is the median percentage allocated to equities o...
by smitcat
Thu Sep 03, 2020 6:28 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford to intentionally go backward in compensation?
Replies: 67
Views: 4976

Re: Can I afford to intentionally go backward in compensation?

Can you? Maybe. Should you? Absolutely not. After you drop in compensation, you may never get back to the $225-$250k you earn now. Suck it up for another five years. Then, go work for a non-profit after you're closer to being able to FIRE. " Suck it up for another five years" is tough to do if you ...
by smitcat
Wed Sep 02, 2020 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford to intentionally go backward in compensation?
Replies: 67
Views: 4976

Re: Can I afford to intentionally go backward in compensation?

Man, what are some of these posters talking about. You guys are multimillionaires, in what universe is dropping down to just 400kish household income an irreparable mistake? Get some perspective, your health and life is more important than anything, and you've already won the game. Do it! When almo...
by smitcat
Wed Sep 02, 2020 7:53 am
Forum: Personal Consumer Issues
Topic: New (to me) Car: Accord vs CRV vs Forester
Replies: 6
Views: 729

Re: New (to me) Car: Accord vs CRV vs Forester

Out of the 3, the Accord is the simplest, will depreciate the most, so you can get the best deal and will cost the least to maintain. If AWD is a must, then the Forester has "real" all wheel drive. Get snow tires as well. The way Honda simply denies, denies, denies the gas diluted oil in earth drea...