Search found 1970 matches

by smitcat
Fri Nov 16, 2018 10:43 am
Forum: Personal Consumer Issues
Topic: fuel for snowblower
Replies: 69
Views: 3552

Re: fuel for snowblower

You obviously have have never refilled a snowblower in the middle of a blizzard. Sure I have. In the garage. Never refill a hot unit. Never ever. Never refuel indoors. Not to mention it always seems to run out at the top of the driveway 100 yards from the garage. I am not pushing my honking Ariens ...
by smitcat
Fri Nov 16, 2018 10:40 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs. Traditional 401k
Replies: 129
Views: 6075

Re: Roth vs. Traditional 401k

international001, <<I have been arguing to do both Trad 401k and Roth IRA. Only question is how much of each. >> Max up the Trad. 401K and put the tax savings into Roth IRA is the best combination even in the early years. << I'm also making all the numbers inflation adjusted >> You forgot to inflat...
by smitcat
Fri Nov 16, 2018 10:20 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs. Traditional 401k
Replies: 129
Views: 6075

Re: Roth vs. Traditional 401k

international001, <<Investing after 40 only in 401k pre-tax the max, I think I can get to 1.25M at 65. >> Do the math and show us how this is possible. It is not between Trad. 401K versus Roth 401K. It is between Trad. 401K with Roth IRA versus Roth 401K only, <<Given all the uncertainties of the t...
by smitcat
Fri Nov 16, 2018 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Roth vs. Traditional 401k
Replies: 129
Views: 6075

Re: Roth vs. Traditional 401k

international001, <<Investing after 40 only in 401k pre-tax the max, I think I can get to 1.25M at 65. >> Do the math and show us how this is possible. It is not between Trad. 401K versus Roth 401K. It is between Trad. 401K with Roth IRA versus Roth 401K only, <<Given all the uncertainties of the t...
by smitcat
Fri Nov 16, 2018 9:44 am
Forum: Personal Consumer Issues
Topic: fuel for snowblower
Replies: 69
Views: 3552

Re: fuel for snowblower

Tanks are sealed and vented and controlled to pass evaporative emissions requirements. Snow should never get into a tank. You obviously have have never refilled a snowblower in the middle of a blizzard. P.S. 8" of snow this morning. I cleared my 100 yard driveway no problem. The 22 year-old snowblo...
by smitcat
Fri Nov 16, 2018 7:55 am
Forum: Personal Consumer Issues
Topic: which snow blower ?
Replies: 39
Views: 1648

Re: which snow blower ?

If not for the 120 foot driveway, I would absolutely recommend the EGO battery powered unit from Home Depot. Works like a charm - even in Chicago winters. I have converted my entire yard tool fleet (mower, trimmer, edger, blower, snowblower) to battery power, and would never consider going back to ...
by smitcat
Thu Nov 15, 2018 1:21 pm
Forum: Personal Consumer Issues
Topic: VA (veterans admin) benefits for dementia
Replies: 7
Views: 386

Re: VA (veterans admin) benefits for dementia

Father has dementia and recently visited the VA. Was informed he’s eligible for all benefits because he was subject to agent orange and this was listed in his discharge papers. His next step will be to see a VA doctor. Is anyone familiar with any sort of longer term care provided by the VA? Has any...
by smitcat
Wed Nov 14, 2018 9:22 am
Forum: Investing - Help with Personal Investments
Topic: Oops! Edward Jones tops Vanguard in customer survey
Replies: 50
Views: 5084

Re: Oops! Edward Jones tops Vanguard in customer survey

The survey would be quite different if they included past clients - like me.
This seems to be a result of survivor bias - when you wake up and leave EJ really mad they never ask you for your opinions in these polls.
YMMV
by smitcat
Wed Nov 14, 2018 9:08 am
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

The Tacoma is a very good truck if you do not require a full sized pickup - I would buy one if that were the case. The Tundra is well behind the pack for full sized trucks for near 10 years now. You can see that in every published review and with speaking to customers that work their trucks... here ...
by smitcat
Tue Nov 13, 2018 8:32 pm
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

Ok, so I thought I was done shopping for pick up truck. I narrowed it down to either a 2018 Nissan Titan (SV) or a 2019 Toyota Tundra (SR 5.7L). They were priced in the $30K range. I was going to decide this month and pick one up. Done! But then I saw that the 2018 Ford F150 (2.7/3.5L Ecoboost) and...
by smitcat
Tue Nov 13, 2018 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Small business (5 employees) 401k - cheapest options
Replies: 14
Views: 962

Re: Small business (5 employees) 401k - cheapest options

Can i ask why you recommend SEP-IRA under 10 employees? 1) SEP-IRA's are free. At around $5k, that is $500 or more per employee. Better off just putting the $500 into the employee SEP-IRA accounts. 2) 401k's take time to setup and maintain the payroll deductions. Companies with less than 10 employe...
by smitcat
Tue Nov 13, 2018 11:04 am
Forum: Investing - Help with Personal Investments
Topic: Is maxing out Tax defered 401(k) enough?
Replies: 49
Views: 4772

Re: Is maxing out Tax defered 401(k) enough?

Hello Bogleheads, I am thankful to find this forum and have been reading through various posts and wiki sections.Posting for the first time. Here is our current situation and would like to get feedback for our investment/saving strategy. We both are in mid 30s with two young kids living in MCOL are...
by smitcat
Tue Nov 13, 2018 10:30 am
Forum: Investing - Help with Personal Investments
Topic: Small business (5 employees) 401k - cheapest options
Replies: 14
Views: 962

Re: Small business (5 employees) 401k - cheapest options

Can i ask why you recommend SEP-IRA under 10 employees? 1) SEP-IRA's are free. At around $5k, that is $500 or more per employee. Better off just putting the $500 into the employee SEP-IRA accounts. 2) 401k's take time to setup and maintain the payroll deductions. Companies with less than 10 employe...
by smitcat
Tue Nov 13, 2018 9:41 am
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

In 2012 I bought a used F-250 diesel, to have a general purpose truck and to haul my trailer up to deer camp and then elk camp each fall. The first 3 years I owned it, it was towed home from deer camp every year and once from elk camp. Spent one whole winter rebuilding and updating the engine and i...
by smitcat
Tue Nov 13, 2018 9:33 am
Forum: Personal Consumer Issues
Topic: Planet Fitness etc.,
Replies: 51
Views: 4337

Re: Planet Fitness etc.,

I have a feeling most of them are buying a job from the few numbers I have seen. Have you seen a franchise that isn't like buying a job? I looked at this a few years ago and after a few months of t taking to 30+ owners across 4 different business lines, I gave up. They all seemed to be buying a job...
by smitcat
Tue Nov 13, 2018 9:17 am
Forum: Personal Consumer Issues
Topic: cvt transmissions
Replies: 67
Views: 8873

Re: cvt transmissions

There are a few articles posted by transmission shops and they all seem to read like this one …. "In conclusion, we like the idea of the CVT transmission and the fact that is can offer such outstanding fuel economy and efficiency. Also, the fact that it can shift quick and seamlessly on inclines ca...
by smitcat
Tue Nov 13, 2018 9:12 am
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11675

Re: If expenses are low, are some of us over saving?

While I agree with most of what you say these basic things... "Warm, fed, safe, and dry. It doesn't cost that much to meet the basic needs. With cable, internet, phone, and a nearby library too." Can all be recieved in many low security prisons as well. There are so many things to do and experience...
by smitcat
Mon Nov 12, 2018 10:35 am
Forum: Personal Consumer Issues
Topic: cvt transmissions
Replies: 67
Views: 8873

Re: cvt transmissions

We have a 2013 Subaru Crosstrek Limited, which has paddle shifters. While on the first transmission, I would use the paddles to "downshift" to engine brake. After the first CVT failed at 53k miles, and seeing that this is common enough that Subaru voluntarily extended the CVT warranty to 100k miles...
by smitcat
Mon Nov 12, 2018 10:18 am
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11675

Re: If expenses are low, are some of us over saving?

Simplistic assumptions about some mythical dollar amount that one person can live on being the canonical optimum for everyone are actually pretty meaningless. People have a vast range of economic and fiscal parameters. Agree. This was the point I was trying to make earlier. To suggest that someone ...
by smitcat
Mon Nov 12, 2018 10:06 am
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11675

Re: If expenses are low, are some of us over saving?

As someone who plays the piano 6-8 hours per day and teaches music lessons , I can say the following.... It's highly likely your daughter has very little talent when it comes to playing the piano. She is guaranteed to be a Joe - or in her case - a Jane average at best. She will not continue with it...
by smitcat
Mon Nov 12, 2018 9:19 am
Forum: Personal Consumer Issues
Topic: Still spending too much on non-essentials
Replies: 38
Views: 2416

Re: Still spending too much on non-essentials

corysold wrote:
Mon Nov 12, 2018 8:51 am
Is your goal to spend no money on anything but what you deem essential items? That's seems a bit draconian. But if you have your reason, go for it, but there is more to life than saving every dollar possible.
absolutely --- great insight.
by smitcat
Mon Nov 12, 2018 8:53 am
Forum: Personal Consumer Issues
Topic: Planet Fitness etc.,
Replies: 51
Views: 4337

Re: Planet Fitness etc.,

"The average place is brining in 1.7 million (7k people paying a bit over 20 bucks each) and paying ~800k in expenses. For 900k net. Now you also have to pay the franchising royalty (~120k), interest/opportunity cost (1-2 million dollars. Call it 75-150k/year), running the shop" I do not know the G...
by smitcat
Sun Nov 11, 2018 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11675

Re: If expenses are low, are some of us over saving?

One thing that has not been mentioned is that the median household income in the US is only about $59,000 a year and for most people that includes paying for rent or a mortage payment. In probably 80% of the country that will support a modest but comfortable lifestyle. https://en.wikipedia.org/wiki...
by smitcat
Sun Nov 11, 2018 5:14 pm
Forum: Personal Consumer Issues
Topic: Planet Fitness etc.,
Replies: 51
Views: 4337

Re: Planet Fitness etc.,

A friend owned more than 50 PFs. Sold 20 for 1.5m each. I wish I was half as foolish as him! $1.5 million each per sale would indicate that they were cash flowing about $1/2 million or so each. Based upon total revenue and expenses not likely is my response. After debt? The estimated cost to open o...
by smitcat
Sun Nov 11, 2018 10:34 am
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

F150 is ranked higher that Tundra or Tacoma by Consumer report. F150 is the only truck "recommended" by consumer reports in the full size pickup truck category. "F150 is the only truck "recommended" by consumer reports in the full size pickup truck category." Having owned them all this is a rather ...
by smitcat
Sun Nov 11, 2018 10:29 am
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11675

Re: If expenses are low, are some of us over saving?

I'm single with no debt, paid off home, newer car and save more than twice what I spend each year. I live in a medium COL city and live moderately frugally, but don't want for much of anything. I still spend $45-50K/year. The thought of working until medicare age of 65 makes me ill so my expenses, ...
by smitcat
Sun Nov 11, 2018 9:21 am
Forum: Personal Consumer Issues
Topic: Planet Fitness etc.,
Replies: 51
Views: 4337

Re: Planet Fitness etc.,

The good news for those of us who are frugal, there's usually another fool waiting to open a gym and run a promotional deal below the actual cost. A friend owned more than 50 PFs. Sold 20 for 1.5m each. I wish I was half as foolish as him! $1.5 million each per sale would indicate that they were ca...
by smitcat
Sun Nov 11, 2018 7:25 am
Forum: Personal Consumer Issues
Topic: Planet Fitness etc.,
Replies: 51
Views: 4337

Re: Planet Fitness etc.,

The good news for those of us who are frugal, there's usually another fool waiting to open a gym and run a promotional deal below the actual cost. A friend owned more than 50 PFs. Sold 20 for 1.5m each. I wish I was half as foolish as him! $1.5 million each per sale would indicate that they were ca...
by smitcat
Sun Nov 11, 2018 7:17 am
Forum: Investing - Help with Personal Investments
Topic: New job - not sure how much to 401k and how much to Roth IRA
Replies: 17
Views: 1376

Re: New job - not sure how much to 401k and how much to Roth IRA

If you plan to live on $24K/yr, your marginal tax rate in retirement will be 0%. Given that, 100% traditional is the correct choice now: pay no tax now, and no tax later. At worst, pay the 10% for early tIRA withdrawals if needed. Why pay tax to make Roth contributions? See Investment Order for mor...
by smitcat
Sun Nov 11, 2018 7:02 am
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11675

Re: If expenses are low, are some of us over saving?

I'm single with no debt, paid off home, newer car and save more than twice what I spend each year. I live in a medium COL city and live moderately frugally, but don't want for much of anything. I still spend $45-50K/year. The thought of working until medicare age of 65 makes me ill so my expenses, ...
by smitcat
Sat Nov 10, 2018 2:43 pm
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

On two occasions I have had to pull a staff members Honda Ridgeline from our employee parking lot due to snow - I was in a Chevy 1500 at the time. This is probably more of a tire issue than a vehicle one. IDK - the Ridgeline was less than a year old at the time. Seemed to do fine on plowed roads bu...
by smitcat
Sat Nov 10, 2018 10:14 am
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

On two occasions I have had to pull a staff members Honda Ridgeline from our employee parking lot due to snow - I was in a Chevy 1500 at the time. This is probably more of a tire issue than a vehicle one. IDK - the Ridgeline was less than a year old at the time. Seemed to do fine on plowed roads bu...
by smitcat
Sat Nov 10, 2018 8:28 am
Forum: Personal Finance (Not Investing)
Topic: If expenses are low, are some of us over saving?
Replies: 120
Views: 11675

Re: If expenses are low, are some of us over saving?

I don't believe that I've ever heard anyone say that they regretted saving money earlier in their lives. But it is very common for people to say that they regret not spending more time with loved ones earlier in their lives. If a high savings rate is truly preventing you from spending time with you...
by smitcat
Sat Nov 10, 2018 8:10 am
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14554

Re: How much money are you leaving your kids after you die?

This is a very specific questions about, "Hey how much are you worth" with in other interest about investing. I don't think it takes a rocket scientist to figure it out why. It is about them gauging how much the parents are worth and that is it. Next thing in the same line of thought is the idea th...
by smitcat
Sat Nov 10, 2018 7:43 am
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

I see you are below the typical snow line so snow related weather would not affect your Honda choice. Huh??? We are between Philly and Allentown PA .... 22 and 33 inch annual average snowfalls respectively. Both the Audi and Ridgeline are AWD and snow was definitely a factor in our choices. On two ...
by smitcat
Fri Nov 09, 2018 1:46 pm
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

I'm a Ford guy and drive a 2014 F-150 Platinum 4x4 SuperCrew. However, if I was going to replace it I would be doing so with the new 2019 Ram 1500 Limited. That is a nice truck. Are you in a southern state, by any chance? I ask because although I have no interest in buying a truck, I do observe the...
by smitcat
Fri Nov 09, 2018 9:59 am
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

For the 30th response I'll throw a tangent... Honda Ridgeline. I drove Ford F250's and F350's for 30 years at work. Was given the F350 Supercab I was driving when I retired. Occasionally the wife would have to drive the truck, usually when I was going to the city and took her Audi to avoid parking ...
by smitcat
Fri Nov 09, 2018 9:55 am
Forum: Personal Consumer Issues
Topic: Too many choices for my next TRUCK
Replies: 83
Views: 5934

Re: Too many choices for my next TRUCK

Ok, so I thought I was done shopping for pick up truck. I narrowed it down to either a 2018 Nissan Titan (SV) or a 2019 Toyota Tundra (SR 5.7L). They were priced in the $30K range. I was going to decide this month and pick one up. Done! But then I saw that the 2018 Ford F150 (2.7/3.5L Ecoboost) and...
by smitcat
Fri Nov 09, 2018 9:16 am
Forum: Personal Consumer Issues
Topic: Career/Life Advice Needed - When to start a business?
Replies: 20
Views: 1440

Re: Career/Life Advice Needed - When to start a business?

LarryAllen wrote:
Fri Nov 09, 2018 9:11 am
Why do you only have $1.5m net worth with $500k income? Seems low. I would stick it out a few more years. I would also drill down carefully on the expenses to be sure they are accurate to include health care for example. Good luck.
They are in their late 20's and have had pay raises recently.
by smitcat
Fri Nov 09, 2018 9:13 am
Forum: Personal Consumer Issues
Topic: Career/Life Advice Needed - When to start a business?
Replies: 20
Views: 1440

Re: Career/Life Advice Needed - When to start a business?

Achieving FIRE in three years is huge. I highly recommend that you do that. Starting your own business is challenging and risky, even if you are highly capable such as yourself. Despite your best efforts you may not succeed and you may lose your investment capital. Keeping your current job for 3 ye...
by smitcat
Fri Nov 09, 2018 9:09 am
Forum: Personal Consumer Issues
Topic: Career/Life Advice Needed - When to start a business?
Replies: 20
Views: 1440

Re: Career/Life Advice Needed - When to start a business?

This community is filled with incredibly smart, generous folks, and I’m hoping that you all can give me some much-needed career/life guidance. A bit of background first: • Personal: Spouse and two kids (under 5) living in MCOL area. • Financial: Household income is ~$500k, NW is ~$1.5M which includ...
by smitcat
Thu Nov 08, 2018 2:08 pm
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7348

Re: Do people calculate savings rate on gross income?

$2M total income less $850k in taxes less $1M in savings in taxable is about $150k leftover. In this case, the $113k is due to the fact that these aren't regular doctors, they are Bogleheads so they max their 401ks too. :wink: Here's a neat tool that can approximate the answer to this question: htt...
by smitcat
Thu Nov 08, 2018 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

That chart represents a range of 50K to 300K - it actually increases savings rate as the numbers go up when often it will go down as my example explains. The example can be run with 50K and 300K if you choose to do so and compare to the charts required needs. The chart you are referring to came fro...
by smitcat
Thu Nov 08, 2018 12:25 pm
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7348

Re: Do people calculate savings rate on gross income?

I am saying at income level X, it is harder to save 50% the lower your income level goes. That was the original point and i stand by it. I don't see how it is even debatable. Now it is harder the higher you income goes. Simple example a) 5 million/year fed taxes = 1.8 million state taxes = 640 mili...
by smitcat
Thu Nov 08, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

The chart ony comes close if each category saves 10% of gross each year - no matter if they make 60K or 300K. It only works if they need about 80% of their gross salary for expenses after retirement. It only works if their investment retuirn is 6% annually. It only works if their Fed and State taxe...
by smitcat
Thu Nov 08, 2018 10:24 am
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

The chart ony comes close if each category saves 10% of gross each year - no matter if they make 60K or 300K. It only works if they need about 80% of their gross salary for expenses after retirement. It only works if their investment retuirn is 6% annually. It only works if their Fed and State taxe...
by smitcat
Thu Nov 08, 2018 9:56 am
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7348

Re: Do people calculate savings rate on gross income?

Folks, My saving rate is based on my annual expense. I save 100% of my annual expense every year because I want to reach my goal in less than 25 years. The reason why I use this saving rate and method is that I want to balance saving and spending. I save as much as I spend is a good balance for me....
by smitcat
Thu Nov 08, 2018 8:56 am
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

I'm not following the logic of the chart.. why do the higher incomes need higher multiple of income saved? Are they discounting for the SS bend points offsetting more expenses for the lower income cohort? or something else? I would assume it has to do with lifestyle creep and the thought that the c...
by smitcat
Thu Nov 08, 2018 8:53 am
Forum: Personal Finance (Not Investing)
Topic: 1/3 of Baby Boomers have no retirement savings...
Replies: 77
Views: 8108

Re: 1/3 of Baby Boomers have no retirement savings...

The chart ony comes close if each category saves 10% of gross each year - no matter if they make 60K or 300K. It only works if they need about 80% of their gross salary for expenses after retirement. It only works if their investment retuirn is 6% annually. It only works if their Fed and State taxe...