Bogleheads.org

"I am also a fan of analyzing the potential of any decision as best you can." We agree - but you have provided none. I disagree. I have analyzed the issue, and my thoughts on it are provided above, including agreement with the analysis that MikeG62 posted. That is still analysis, although you clearly do not agree with that approach. That's ok. Just because it is not detailed modeling going out 30-40 years does not mean it is not analyzing the issue. I am signing off on this discussion. Thanks for your thoughts. I would love to discuss any analysis on Roth conversions and/or LTCi choices. Please share any pros and cons of either choice using any timeframe with any numbers/pricing/reserves/taxes/etc that were utilized. Statements s...

Hi - hoping for some ideas on this topic. Or maybe even some software tools that can help me decide. I have about $1.2 MM in an IRA and was thinking of doing some Roth conversions. I just turned 64, no longer working. My wife will retire in July, she is 61. We will have at least three years of low income prior to collecting SS. My FRA is 66 & 10 months. If I wait until 70 it gives me three additional years. Even at 70 I could still move money up to RMD age (73 in my case) but just not as much once I turn on SS. We have about $1.1 MM in taxable so paying taxes on conversions isn’t a problem. It may be possible move about 1/2 of my IRA to a Roth prior to RMDs while staying in the 22% bracket and under the IIRMA surcharge. I’d like to val...

In my view, all of the questions you raise are just other aspects of financial planning, investment decisions that are made at a higher level and analyzed every day on this forum. I don't have a "special reserve in low-risk accounts" to handle long term care cost risks. It's just part of my overall financial plan. I may not be right, just like every other aspect of my planning. For example, I would not fully deplete tax deferred accounts through Roth conversions, knowing that at some point I may have substantial long term care costs that could be paid from those accounts in a tax efficient manner (no tax). It just complements my general view that overdoing Roth conversions might not be optimal. Balance is important. None of your ...

Thanks for the feedback and tool tips. I'm not following the ACA considerations since I was planning on using my company's retiree medical. ACA seems pretty expensive relatively speaking. Even next year, I'll have a pension, my wife's pension and SS (unless we delay SS a bit), and probably $20-$30K in bank interest and bond income. I could move all my bond fund investments to my IRA but if I did that my AA would be out of whack for my comfort level. My point is, I think our lowest level of taxable income will be the next two years but our MAGI is still around $90K (I have to look deeper at this number to be sure). If I'm reading the ACA information correctly, I'll get some subsidy but even with a subsidy it's ~3X higher than my retiree med...

"Sounds like you have done your due diligence, strong analysis and reached a good decision" How do these work in this situation.... "Consider, as well, the pool of dollars one might accumulate to pay for one's possible LTC costs by investing the premiums that would be paid under a LTCi policy." The question comes up in where you reserve those dollars? If you reserve a decent amount in low-risk accounts, have they been or will they be eroded over time. "In addition, one should also consider the tax benefit that would likely arise (current tax rules) from paying for LTC costs out of pocket (perhaps shielding a large portion of one's RMD's and SS and passive income from any income tax)." And another question that...

Just edited as I learned that retroactive active benefits only extend to FRA (and only up to 6 months prior.) I would like to double check some things about the optimum strategy suggested by Open Social Security. My birth month is July 1953. My PIA is $3300 and the monthly benefit increases to $4372 if I file to start benefits at age 70. My spouse's birth month is Feb 1957. Benefit starting this month is $450 due to low earnings and WEP/GPO reduction. Cannot file for retroactive benefits because not yet at FRA. 1. Spouse files for benefits to begin now 2. I file for spousal benefits only to begin now. 3. I later file for benefits on my work record to start on July 2023. 4. My spouse files for spousal benefits to start on July 2023. In my c...

I guess the point I am attempting to make is a lot of us have bucket lists, and some of the items on those lists can be pricey. So do you check off the items on your bucket list knowing it might change the dynamic with your social circle or do you skip them to fit in. A lot of advice around here seems to be about stealth wealth, well you only get one life so do you skip things to keep your wealth hidden? And if you do what is the point of having it? Decide whose life you want to live and proceed. Just trying to illustrate the point I was making on how financial success can isolate or segregate you from your social circle. I think I have seen stories on this forum about it leading to problems on the family level also. How are you doing with...

This scenario ruled out EF as an option for me. They charge a fee for every ‘eligible’ employee, not just those participating. I’m leaning toward ADP despite Betterment being a little cheaper. There was no fee for employees not enrolled in the Employee Fiduciary plan that we were in for over 4 years - until we sold the business and the new owner continued with EF. Add up all the fees for any program and then decide - we were in NY so there may be rules that are different. Consider what any costs represent to the business on an after-tax basis an not an upfront basis. Also, our goals did not include making money from the 401K program, we were fine with reasonable costs for our staff. According to their proposal, they charge a fee per eligib...

But what if you hadn't or you were a 7 Summits guy? Would you not do them just to fit in? For health reasons, those aren’t on my list. I also don’t like standing in long lines. I guess the point I am attempting to make is a lot of us have bucket lists, and some of the items on those lists can be pricey. So do you check off the items on your bucket list knowing it might change the dynamic with your social circle or do you skip them to fit in. A lot of advice around here seems to be about stealth wealth, well you only get one life so do you skip things to keep your wealth hidden? And if you do what is the point of having it? Decide whose life you want to live and proceed. Just trying to illustrate the point I was making on how financial succ...

So would you like to hike Machu Picchu or the Milford Trek? I knocked those out in my early 30s. Might go back to South America next year. My best memories are being outdoors. It’s not an expensive hobby. But what if you hadn't or you were a 7 Summits guy? Would you not do them just to fit in? For health reasons, those aren’t on my list. I also don’t like standing in long lines. I guess the point I am attempting to make is a lot of us have bucket lists, and some of the items on those lists can be pricey. So do you check off the items on your bucket list knowing it might change the dynamic with your social circle or do you skip them to fit in. A lot of advice around here seems to be about stealth wealth, well you only get one life so do you...

teCh0010 wrote: ↑Tue Mar 21, 2023 6:43 pm Disney Vacation Club with the ability to rent your points out (and real demand there keeping point rentals at or ahead of maintenance) and a robust secondary market seems to be one of the only points based time shares that has actual value.

Yup - not a fan of timeshares but the Disney stuff has done very well over the years.

While this is true, I’m planning beyond the expiration of the credits and as a small employer I’m unable to match 3.5%. FWIW - we had 40+ employees and had only 8-9 participating in the 401K at any point in time. The safe harbor allowed both of us (as owners) to max out our 401K accounts. This scenario ruled out EF as an option for me. They charge a fee for every ‘eligible’ employee, not just those participating. I’m leaning toward ADP despite Betterment being a little cheaper. There was no fee for employees not enrolled in the Employee Fiduciary plan that we were in for over 4 years - until we sold the business and the new owner continued with EF. Add up all the fees for any program and then decide - we were in NY so there may be rules th...

"Sounds like you have done your due diligence, strong analysis and reached a good decision" How do these work in this situation.... "Consider, as well, the pool of dollars one might accumulate to pay for one's possible LTC costs by investing the premiums that would be paid under a LTCi policy." The question comes up in where you reserve those dollars? If you reserve a decent amount in low-risk accounts, have they been or will they be eroded over time. "In addition, one should also consider the tax benefit that would likely arise (current tax rules) from paying for LTC costs out of pocket (perhaps shielding a large portion of one's RMD's and SS and passive income from any income tax)." And another question that...

"Sounds like you have done your due diligence, strong analysis and reached a good decision" How do these work in this situation.... "Consider, as well, the pool of dollars one might accumulate to pay for one's possible LTC costs by investing the premiums that would be paid under a LTCi policy." The question comes up in where you reserve those dollars? If you reserve a decent amount in low-risk accounts, have they been or will they be eroded over time. "In addition, one should also consider the tax benefit that would likely arise (current tax rules) from paying for LTC costs out of pocket (perhaps shielding a large portion of one's RMD's and SS and passive income from any income tax)." And another question that...

"Sounds like you have done your due diligence, strong analysis and reached a good decision" How do these work in this situation.... "Consider, as well, the pool of dollars one might accumulate to pay for one's possible LTC costs by investing the premiums that would be paid under a LTCi policy." The question comes up in where you reserve those dollars? If you reserve a decent amount in low-risk accounts, have they been or will they be eroded over time. "In addition, one should also consider the tax benefit that would likely arise (current tax rules) from paying for LTC costs out of pocket (perhaps shielding a large portion of one's RMD's and SS and passive income from any income tax)." And another question that...

Consider, as well, the pool of dollars one might accumulate to pay for one's possible LTC costs by investing the premiums that would be paid under a LTCi policy. In addition, one should also consider the tax benefit that would likely arise (current tax rules) from paying for LTC costs out of pocket (perhaps shielding a large portion of one's RMD's and SS and passive income from any income tax). It's for these reasons that, after being approved for a LTC policy this month, I choose not to move forward with the policy. Lastly, I would add that we are in the fortunate position of being able to self-fund any LTC we might reasonably need and that factored into our decision as well. Sounds like you have done your due diligence, strong analysis a...

Keep in mind that needing some amount of LTC is not necessarily the same thing as qualifying for benefits under one of these LTCi policies. It is very easy to say, "well, you only need to meet two of six ADL's", but one needs to look at the six ADL's and then ask themselves generally speaking how far gone would I be at that point and how long might I continue to live in that condition? Let's recap those six ADL's: 1. Bathing – ability to clean oneself, get in and out of the shower or bath, and perform other activities of personal hygiene such as shaving or brushing one’s teeth. 2. Eating – feeding oneself by getting food into the body from a receptacle such as a plate, cup, or table, by a feeding tube, or intravenously. 3. Dressi...

I can’t afford the match required by safe harbor. My mistake - you posted this above... "Additionally, the Fed is offering up to $1k tax credit per employee match. In other words, anything we match per employee will be recouped via tax credit up to $1k each. This is for 2 years then phases out over 5." While this is true, I’m planning beyond the expiration of the credits and as a small employer I’m unable to match 3.5%. FWIW - we had 40+ employees and had only 8-9 participating in the 401K at any point in time. The safe harbor allowed both of us (as owners) to max out our 401K accounts. This scenario ruled out EF as an option for me. They charge a fee for every ‘eligible’ employee, not just those participating. I’m leaning toward...

So I've been reading about the turnkey real estate property and how it could provide steady cash flow which I am very much attracted to. It looks like this is how the game would be played out: 1) Buy an out-of-state rental property 2) The company manages the property (tenant, property maintenance...etc) 3) Net income > expenses = Cash flow 4) Rinse and repeat It seems pretty simple and takes a lot of guessing out of the game. But at the same time, I wonder whether this is too good to be true. I am already topping out the $10k SALT cap without even having to pay for state property tax. Even with that, I am still taking standard deduction this year, which pains me to my core. I need something that can offset and replace my ordinary income ho...

DH 31, DW 32 1 kid almost 2 (likely to have a second) Income DW:178k + 45k bonus DH: 172k + 8k bonus + 240k RSUs DH side income: 10k DH works from home. DW WFH mostly full time, goes in one day a month which company would like to be one day a week. We currently live an hour from DWs work. RSUs would be a nice bonus but don't want to count on it paying out. Current house: Expected to sell for 430k Expected net from sell: ~ 200k Townhome 2,300 sq feet current PITI: 2,250 New house: 800k 2800 sq feet, 0.8 acre Expected PITI (rate of 6.7%): 4,900 This would be a nice house in the school district we want, do not want to pay for private school. Emergency fund: 50k Investments: ~1.5 million 401k: 500k Roth IRA: 268k Brokerage: 600k HSA: 39k 529: ...

TheTimeLord wrote: ↑Tue Mar 21, 2023 4:23 pm If this is the case then meaningful financial success might be harmful. I know a lot of people here disagree but I think for multiple reasons increased financial success slowly becomes isolating for many.

"If this is the case then meaningful financial success might be harmful. I know a lot of people here disagree but I think for multiple reasons increased financial success slowly becomes isolating for many."
Ask yourself a few questions - not to be answered here though.
- how many other activities do you do each day other than Bogleheads?
- how many other non-financial sites take up some of your time?
- how much time do you spend speaking to folks in person?
- how often do you have a real belly laugh?

Hi - hoping for some ideas on this topic. Or maybe even some software tools that can help me decide. I have about $1.2 MM in an IRA and was thinking of doing some Roth conversions. I just turned 64, no longer working. My wife will retire in July, she is 61. We will have at least three years of low income prior to collecting SS. My FRA is 66 & 10 months. If I wait until 70 it gives me three additional years. Even at 70 I could still move money up to RMD age (73 in my case) but just not as much once I turn on SS. We have about $1.1 MM in taxable so paying taxes on conversions isn’t a problem. It may be possible move about 1/2 of my IRA to a Roth prior to RMDs while staying in the 22% bracket and under the IIRMA surcharge. I’d like to val...

In my state, a family of 4 making 40k/year gets a 1300/month subsidy. A silver plan with an out of pocket limit of 6000 costs about 1200/month at my age. So basically you just have to pay the deductibles. There should even be some support for paying the deductible. Now that doesn't include things like adult dentists and things like eyewear. 6k seems like a pretty reasonable guess to me. Obviously this is all situational. If you are spending 100k/year, I would need like 20k/year for health care. Good to know! But not sure I understand the last sentence though. Depending on your state, if you start earning more than $100,000, it can impact the subsidies/support that you get for discounted premiums on your ACA insurance. In my state, at an in...

Glockenspiel wrote: ↑Mon Mar 20, 2023 1:15 pm

Valuethinker wrote: ↑Mon Mar 20, 2023 10:38 am
If he is used to the Upper Midwest climate, then Minnesota might be a good fit. If not, that's a potential issue - winter in that part of the world has to be experienced to be understood.

Not that different from the Northeast. Mid 70s in September and May, 60 in October and April, mid 40s in November and March, upper 20s in December and February, low 20s in January, for high temperatures.

I you are comparing Minneapolis with Long Island NY the summer months are fairly the same.
But the winter months average 15 degrees colder in Minn for both the highs and lows - 15 less is a whole lot colder for me anyway.

Where are you getting medical insurance for a family at $500? Full time working for large corps I can’t even get it all for $500 let alone any co-pays or out of pocket. But non-working I believe that number to be extremely low. I had one year of bad luck and hit full out of pocket maximums. Which eclipsed the $6000 you have budgeted by $7500. In my state, a family of 4 making 40k/year gets a 1300/month subsidy. A silver plan with an out of pocket limit of 6000 costs about 1200/month at my age. So basically you just have to pay the deductibles. There should even be some support for paying the deductible. Now that doesn't include things like adult dentists and things like eyewear. 6k seems like a pretty reasonable guess to me. Obviously this...

CloseEnough wrote: ↑Mon Mar 20, 2023 9:49 am

smitcat wrote: ↑Mon Mar 20, 2023 9:35 am
All in all it is a tough situation, tough conversation, and tough decisions for all involved for those that have been through any of this.

Of all things said on this forum, this is one that can not be disagreed with.

Oddly enough for folks looking only at numbers so far that have not been through any real experiences I find it to be a huge factor.
YMMV

My son gets admissions from U. Minnesota (Twin Cities), SUNY Stony Brook and Arizona State, all in Computer Science. Cost aside, which one is the best to attend? Has your son every been through a Minnesota winter? Going from memory (30 years ago) one of the features that the University of Minnesota brochures advertised was their extensive tunnel system so that one could avoid the weather during winter. SUNY looks to have easy access to New York City (and thus to Manhattan). For some folks this won't matter. For others this is a huge plus. ASU is, well, warmer than either of the first two. Which one fits your child best? Stony Brook is well over an hour from NYC. It is a commuter school with an ugly campus and no school spirit. (Got my grad...

I'm OP, thank you everyone for the inputs! I'm reporting back for the outcomes: I made a counteroffer, $335k ($3k off of original listing price), and buyer agreed. So the transaction goes proceed now. I carefully reviewed the appraisal report, and found it's biased, and absolute nonsense! The appraiser was appointed by a big national bank, came from 50 miles away, not familiar with the city and even didn't know this neighborhood. Besides outdated sales (>12 mo) in report, e.g., 1) appraiser claimed "upgrades" in 6 comps , but no pics or realtors' comments to prove these on zillow or MLS, also some pics on Zillow showed very basic designs (no upgrades at all!). 2) appraiser assumed $35k-45k sale concessions in 4 comps, while he co...

Stuff deleted My bad. Correction: For those who need care for 2 years or more, 38% of them need care for over 5 years, 62% of them need care for 2 to 5 years. On an individual basis, though, it's 0% or 100%. There's no way of knowing which cohort any one person will be in. Here's the source: https://www.aarp.org/caregiving/financial-legal/info-2018/long-term-care-insurance-fd.html I'm glad TN_Boy asked for clarification. When an expert states "It's also true that most of those who need care for more than a year end up needing care for more than 5 years." but it turns out that only 13% of the 65-year olds who need care require care longer than five years, it strains the credibility of the expert. According to Consumer Affairs (quo...

The appraiser was non-local, listed 10 comps, 4 were the sites we researched, while the other 6 were recently built (2020-2022) with varied sale dates (2 on sale, 3 before last August, 1 this year). "2 on sale" That does not sound like any appraisal that I have seen. It sounds like something funny is going on. Was this the appraisal that a lender was using for a loan? The buyer would like to add $6k, to bring a new contract price of $330k. That is 97.6% of your listing price. If there was nothing else that came up in the inspections and it would otherwise be pretty much a "done deal" if you signed off on it then I would take it. If relist it and another buyer has it inspected again then they might find something that th...

Stuff deleted My bad. Correction: For those who need care for 2 years or more, 38% of them need care for over 5 years, 62% of them need care for 2 to 5 years. On an individual basis, though, it's 0% or 100%. There's no way of knowing which cohort any one person will be in. Here's the source: https://www.aarp.org/caregiving/financial-legal/info-2018/long-term-care-insurance-fd.html I'm glad TN_Boy asked for clarification. When an expert states "It's also true that most of those who need care for more than a year end up needing care for more than 5 years." but it turns out that only 13% of the 65-year olds who need care require care longer than five years, it strains the credibility of the expert. According to Consumer Affairs (quo...

Check with the building department for the city or county where the property is located. They will have information on required permits and issuing what is often called Certificate of Occupancy. They should be able to explain how/when you get the title. /quote] Thanks for the reply. In my post, I see that I mistakenly said 'certificate of ownership', and the correct term is 'certificate of occupancy'. Where we were in NYS the local building department would issue the "C of O" after all of the in process and final inspections are completed. These would be the same folks at the office where you submit your initial building plans and get the building approvals. Typically, the general contractor and/or the architect on the project wo...

Read the wiki, but remember that there are only obvious answers in extreme cases - like you said at very low or very high tax rates. Otherwise luck determines what will turn out to be the best path. "Otherwise luck determines what will turn out to be the best path." Each person's numbers and goals will affect these choices. Unknown variables can always make a difference, but each person can select their own most likely scenarios and run all of them through a calculator lime RPM or Pralana for review. During a review of these possibilities the person can see the potential direction a conversion amount can make (positive or negative) and its potential magnitude (how positive or how negative). Using these future possible outcomes he...

Your comment about "assumptions that went into my modeling that may or may not pan out" is important so it's not like there's a right and wrong you'd know ahead of time. You obviously have an extremely good situation regardless of what strategy you choose so I don't think any of your choices would be a mistake, except in retrospect all but one would be sub-optimal, of course. I would probably take some middle ground and just do conversions up to a bracket or cliff limit, although I can't get excited about differences like 22% vs. 24% the way most people seem to. Leaving the higher SS until 70 seems like the only obvious aspect, but you're already going to do that. "Your comment about "assumptions that went into my model...

some additional info based on above comments my wife's early SS at age 64 in Jan 2024 will be ~$24k/yr my SS at age 70 in Jun 2026 will be ~$55k/yr (current calculations but assume it will be higher due to COLA) $150k in Roth conversions will put you in the middle of the 22% marginal tax rate, adding $24k of SS benefit ($20.4k taxable income) won't change that. taxable accounts total ~$1.5m AA 65/35 - can fund living expenses and Roth taxes from taxable until SS or RMD's hit T-IRA ~$3m AA 55/45 R-IRA - $160k AA 100% equities current spending $140k to $175k annually (includes $40k or more for non-essentials like gifts, charities, grandkids 529, multiple vacations, etc.) - from taxable we will sell mutuals or stocks and pay capital gains if/...

That's an input into the program; I don't make any assumptions about it. As you noted, the largest effect is when they have roughly equal Social Security payments. About 50% of retirees get at least half of their income from Social Security, so your scenario is fairly common. But even if the widow (usually) can eventually live on 75% of their joint income, there are often significant initial costs after the death of a spouse, especially if relocating. That's not a great time to lose 25% of your income, and the life insurance proceeds, generally available without taxation, can be very helpful in such cases. "I didn't know what to expect before I wrote the program and was very surprised to find that the best way to cut off the left-hand...

LPSpecial wrote: ↑Sat Mar 18, 2023 2:41 pm We have very hard water here. I was told around 30 grains of hardness. We did need a new system and it is really great. The water is very soft and this new system is leaps and bounds better than the old one which was installed in 89 or 90. I'm sorry I waited so long to look into it.

What system did you end up going with? Are you in an area where salt systems are being restricted?

some additional info based on above comments my wife's early SS at age 64 in Jan 2024 will be ~$24k/yr my SS at age 70 in Jun 2026 will be ~$55k/yr (current calculations but assume it will be higher due to COLA) $150k in Roth conversions will put you in the middle of the 22% marginal tax rate, adding $24k of SS benefit ($20.4k taxable income) won't change that. taxable accounts total ~$1.5m AA 65/35 - can fund living expenses and Roth taxes from taxable until SS or RMD's hit T-IRA ~$3m AA 55/45 R-IRA - $160k AA 100% equities current spending $140k to $175k annually (includes $40k or more for non-essentials like gifts, charities, grandkids 529, multiple vacations, etc.) - from taxable we will sell mutuals or stocks and pay capital gains if/...

States with no income tax need to get revenue somehow, if those affect you the savings may not be as much as you think. Property, sales, gasoline taxes are common. If you’re renting and not commuting maybe it doesn’t impact you much. We live in Washington state. I'm in the camp that each state will get the money it wants in some way. Our Gas tax quite high, sales tax if you make a big purchase (we bought a different boat last year which included 23k sales tax), liquor tax is highest in country and the estate tax limit has not been raised from the 2.13million in quite a few years. Other states may have other issues. Earthquake or hurricane insurance, drought, utilities etc. Family and friends should be a significant issue. "We live in ...

They’ll get their money somehow. Similar situation for us in income and flexibility. We moved to TN from Utah (5% flat income tax). Great! We will save $20k+ a year in income taxes! Hasnt happened. Sales tax is double here. Gas tax is higher. And other things are WAY more here. Our home insurance went from $1k to $7k. Auto insurance also more than doubled. I don’t think we’ve saved any money at the end of the day… we moved to be close to family so still a win for us but not financially. "They’ll get their money somehow." That has not been our experience with changing states. Here is a reasonable summary estimate of the changes in expenses for the first full year since we changed states. Retired/married/own home/equivalent home/sa...

some additional info based on above comments my wife's early SS at age 64 in Jan 2024 will be ~$24k/yr my SS at age 70 in Jun 2026 will be ~$55k/yr (current calculations but assume it will be higher due to COLA) taxable accounts total ~$1.5m AA 65/35 - can fund living expenses and Roth taxes from taxable until SS or RMD's hit T-IRA ~$3m AA 55/45 R-IRA - $160k AA 100% equities current spending $140k to $175k annually (includes $40k or more for non-essentials like gifts, charities, grandkids 529, multiple vacations, etc.) - from taxable we will sell mutuals or stocks and pay capital gains if/when the 35% in fixed is gone (all in treasuries, i-bonds, CDs & money markets) - in taxable I would probably rotate out of mutuals and stocks to ma...

whodidntante wrote: ↑Fri Mar 17, 2023 11:01 pm

vanguarded wrote: ↑Fri Mar 17, 2023 10:42 pm I always imagine the Boglehead response to a question like this to be "somehwere around 16"

The best predictor of your income is the income of your parents. But I prefer the outliers.

Interesting - that is not at all the case with us.

They’ll get their money somehow. Similar situation for us in income and flexibility. We moved to TN from Utah (5% flat income tax). Great! We will save $20k+ a year in income taxes! Hasnt happened. Sales tax is double here. Gas tax is higher. And other things are WAY more here. Our home insurance went from $1k to $7k. Auto insurance also more than doubled. I don’t think we’ve saved any money at the end of the day… we moved to be close to family so still a win for us but not financially. "They’ll get their money somehow." That has not been our experience with changing states. Here is a reasonable summary estimate of the changes in expenses for the first full year since we changed states. Retired/married/own home/equivalent home/sa...

The most important thing I look for in a realtor is their negotiation skills. Everyone thinks they are a good negotiator, just like everyone thinks they are a good driver, but half of us are below average. A skilled realtor has deep experience negotiating real estate deals, has inside info about the realtor on the other side of the table, and knows the state of the market. Using realtors has earned me much more than they cost. This exactly. Every RE deal I’ve done has had some negotiation at some point in the deal. Having someone who’s good at that is worth every penny. Which begs to ask the question. How do you find a good real estate agent? For example, Although our last agent was very nice, I think they did very little with regards to e...

This may be a repetitive or redundant question but I am wondering how others in similar situations feel - My current plan is to defer my SS till age 70 (will be 67 in June 2023), do moderate Roth conversions up thru 2025 ($100k to $150K) - wife is retiring age 64 (late 2023) and will take early SS in Jan 2024. - this is what all SS models say will maximize our combined SS lifetime income assuming current projected actuary tables. - we have no pensions other than lump sums included in total assets, only future income is SS, also less than $10k in rental income. Financial advisor whom i pay small mthly fee tells me we will never run out of money given our assets, AA, and spending habits. He says continue to defer SS as long as you are doing ...

I didn't know what to expect before I wrote the program and was very surprised to find that the best way to cut off the left-hand tail risk for a lot of moderate-income and -asset couples, assuming they were in good health, was to buy 20-year term at ages below 65. That's because the biggest risk to a surviving spouse is the loss of the lesser Social Security payment early in retirement. What assumptions are you making about the fraction of their income coming from SS? For example, for a married couple with equal benefits, both claiming at the same age, with half their retirement spending coming from SS and half from investments, the death of one spouse would reduce the income by 25%. (If the SS benefits are unequal, the loss would be even...

rkhusky wrote: ↑Fri Mar 17, 2023 12:00 pm Cost of living is what you want to focus on, not just state income taxes. What’s the point of saving $4K, if your other taxes and expenses jump $10K?

Quality of life is the other factor and how much you value that.

Exactly - we moved our home state due to total costs not a single expense.
Income tax, property tax, sales tax, utility costs, vehicle and recreational fees, vehicle insurance, home insurance, recreational costs, etc.

I didn't know what to expect before I wrote the program and was very surprised to find that the best way to cut off the left-hand tail risk for a lot of moderate-income and -asset couples, assuming they were in good health, was to buy 20-year term at ages below 65. That's because the biggest risk to a surviving spouse is the loss of the lesser Social Security payment early in retirement. What assumptions are you making about the fraction of their income coming from SS? For example, for a married couple with equal benefits, both claiming at the same age, with half their retirement spending coming from SS and half from investments, the death of one spouse would reduce the income by 25%. (If the SS benefits are unequal, the loss would be even...

Hello. My wife and I are looking to accomplish the following: 1. Move out of our home into a rental home (SFH--we have 6 in our family); 2. Sale of our current home (SFH in an area that is no longer desirable to us); and, 3. Following the close of sale on our current home, purchase and close on a new SFH. So we have basically 3 real estate transactions that we are looking at. It will be very expensive and surely a bunch of headaches. Is it worth it to engage a realtor before undertaking something like this? Do they actually add value? Previous experience with realtors was poor. While they did take the time to facilitate showings, the showings aren't very helpful, and we wound up somewhere that was not a good fit for us. I just don't think ...

I'd challenge this one, even though it's a common refrain. It's quicker for me (and probably most everyone) to change the oil myself vs taking it in. If you start the clock at walking out to the car and stop it at walking back into the house, it's less than 30 mins for sure to change your oil and filter. It helps that I installed a Fumoto oil drain valve/plug (you just slide a lever over to start the oil drain). Maybe if my neighboring property was a JiffyLube they can beat that but assuming 5-10 mins to drive each way you'd be hard-pressed to get an oil change done in less than 30 including travel. Don’t you need to count the time to acquire oil and oil filter? Time to drive to and from store to buy them. And then time to drive to and bac...