Search found 591 matches

by soccerrules
Tue Jun 19, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Reverse mortgage for purchase
Replies: 4
Views: 405

Re: Reverse mortgage for purchase

We'd like to downsize , as yard/pool upkeep is becoming too much for me. We can expect about $120K when we sell our home. This will only buy about half of what we want . Our current mortgage payment is $600, which is good. If it doubles on a new place, not so good. If $120K gets you half of a $240K...
by soccerrules
Tue Jun 19, 2018 9:44 am
Forum: Investing - Help with Personal Investments
Topic: Thoughts on only putting money into a 457 and 403(b). Does anyone do it?
Replies: 18
Views: 661

Re: Thoughts on only putting money into a 457 and 403(b). Does anyone do it?

SAVE General guidance is SAVE as much as you can as early in your career and let the greatness of compounding interest be your best friend. Especially in your late 40's and 50's where it really gets going. Save this way! 1) Tax Deferred Company plans to maximize company matching (FREE money) 2) Roth...
by soccerrules
Mon Jun 18, 2018 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay off mortgage in my situation?
Replies: 30
Views: 2012

Re: Would you pay off mortgage in my situation?

The interest rate on your mortgage is near historic lows. On the other hand, there is real benefit to being completely debt free. If I were you I would ask myself one question: What do you think will help you sleep best at night? The OP may not have experienced not having liquid cash on hand. If th...
by soccerrules
Mon Jun 18, 2018 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay off mortgage in my situation?
Replies: 30
Views: 2012

Re: Would you pay off mortgage in my situation?

Pay it off if you want to. I think about paying mine off early every month ($80K, 4.125, 5.5 yrs left) I think Liquidity would be a little bit of a concern if you have a small EF and everything else in . It appears you have changed your mind from "conservative CD's Munis" to after paying mortgage of...
by soccerrules
Fri Jun 15, 2018 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Savings rate to achieve retirement goals?
Replies: 10
Views: 1083

Re: Savings rate to achieve retirement goals?

FWIW my target is $2M at 60 to have $100K a year. I am anticipating double the SS you have noted ($55-60K) if I delay to 70 (including spousal) or a little more SS than you have listed if I take at 62 and draw less from my portfolio. my point is $2.5M should be more enough. One statistic that I read...
by soccerrules
Fri Jun 15, 2018 3:30 pm
Forum: Personal Consumer Issues
Topic: Too much house vs. just enough
Replies: 38
Views: 3335

Re: Too much house vs. just enough

You don't reference bathrooms. a 3/1 and a 4/2 are much different houses. Not sure what you are renting currently for comparison, assuming it is 2/2. Most anything is going to feel bigger than an apartment, I would think. I would look at the total cost of both housing options and then consider cost ...
by soccerrules
Fri Jun 15, 2018 11:27 am
Forum: Investing - Help with Personal Investments
Topic: help deciphering past taxed IRA to roth conversion pros/cons
Replies: 6
Views: 459

Re: help deciphering past taxed IRA to roth conversion pros/cons

You would be if you convert the $7K gains. If you have a current employer plan which allows incoming rollovers, you could roll the pre-tax amounts over which would avoid the tax-hit now. another way to look at this You want to keep in your traditional IRA only the cost basis/ contributions dating a...
by soccerrules
Fri Jun 15, 2018 9:39 am
Forum: Investing - Help with Personal Investments
Topic: Beginner Investor 30 yrs old. 500k Saved
Replies: 8
Views: 579

Re: Beginner Investor 30 yrs old. 500k Saved

12/2016 same post 300K saved in MM
12/2017 same post 400k saved in MM
6/2018 new post 500K saved in MM

you saved $100K in 6 months this time instead of 12 months -- Congrats.

This is not Yahoo comments. :annoyed
by soccerrules
Fri Jun 15, 2018 9:08 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review for Millenial
Replies: 26
Views: 1672

Re: Portfolio Review for Millenial

I would not be in a hurry to pay off a 15 year mortgage. I would be investing that extra money. You are in the share accumulation phase. By investing more in your 20’s, it could end up changing your retirement account by hundreds of thousands. The effects of compounding can really have a large effe...
by soccerrules
Fri Jun 15, 2018 9:01 am
Forum: Investing - Help with Personal Investments
Topic: 28 with a wife and new baby
Replies: 31
Views: 2053

Re: 28 with a wife and new baby

+1, I thought it, didn't say it. OP - you can have some, you can not have it all. You will need to make choices, then those choices become your priority. Having kids are costly, oh sure, they can go to college where you teach for a small amount, but in the in-between years? the costs go up, they ju...
by soccerrules
Fri Jun 15, 2018 8:42 am
Forum: Investing - Help with Personal Investments
Topic: 28 with a wife and new baby
Replies: 31
Views: 2053

Re: 28 with a wife and new baby

1) Having a number of kids. 2) Dropping income with SAHM 3) Possibly paying a nanny FI in the next 10 years. Sorry. Not sure why nobody has simply said that this is absolutely not possible. Unless you become head of a department at the college and consult at $1,000 an hour or inherit $5MM...... +1,...
by soccerrules
Fri Jun 15, 2018 8:20 am
Forum: Investing - Help with Personal Investments
Topic: 28 with a wife and new baby
Replies: 31
Views: 2053

Re: 28 with a wife and new baby

1) Having a number of kids. 2) Dropping income with SAHM 3) Possibly paying a nanny FI in the next 10 years. Sorry. Not sure why nobody has simply said that this is absolutely not possible. Unless you become head of a department at the college and consult at $1,000 an hour or inherit $5MM...... +1,...
by soccerrules
Thu Jun 14, 2018 4:47 pm
Forum: Investing - Help with Personal Investments
Topic: Cash, getting to it
Replies: 8
Views: 932

Re: Cash, getting to it

stipe- you created a user name March 2017. I would assume you have been browsing the board a few times of the last 15+ months. Hard to really answer your question without some additional information. If you provide more details you will get better recommendations. Age ? Income? (job stability) Other...
by soccerrules
Thu Jun 14, 2018 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Upping federal withholding allowances didn't work?
Replies: 15
Views: 1190

Re: Upping federal withholding allowances didn't work?

.... so changing the number of dependents should have no effect on withholding. are we sure this is true ? I changed my withholding this spring to increase my withholding (reduce exemptions) and it moved the take home pay down by $125/check. If adjusting your exemptions does not have an effect on f...
by soccerrules
Thu Jun 14, 2018 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Mid 50s couple looking for a Portfolio Health Check up
Replies: 17
Views: 2330

Re: Mid 50s couple looking for a Portfolio Health Check up

This is ego bruising. :) Sorry I was probably a little strong in my comments. Hopefully now you can make some changes going forward to help meet your 8-10 goals. I still have to meet other shorter term goals (second kid education)so we cannot max the retirement accounts. Since I get a 100% employer...
by soccerrules
Thu Jun 14, 2018 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: Renting vs Buying a Home
Replies: 24
Views: 1588

Re: Renting vs Buying a Home

I would not buy a house if I was young and single. I bought my 1st home 4 years after marriage and we were fairly confident we wanted to stay where we were. We stayed there 4 years then moved across the city to be closer to work and better schools. (been here 20 years) based on what info you provide...
by soccerrules
Thu Jun 14, 2018 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Setting up 300k Ira. ..
Replies: 13
Views: 580

Re: Setting up 300k Ira. ..

welcome to the forum and congrats on your 1st post. In general the more information you provide the better the answers will be. Your question is fairly straight forward but it also raises a few questions. 1) Is this a 401K/403B account with current/former employer ? -- many times you can leave it th...
by soccerrules
Thu Jun 14, 2018 9:25 am
Forum: Investing - Help with Personal Investments
Topic: Mid 50s couple looking for a Portfolio Health Check up
Replies: 17
Views: 2330

Re: Mid 50s couple looking for a Portfolio Health Check up

Wow scary but great perspectives. Some questions on 401k and IRA. Thank you all I knew I will not be disappointed. This is gold. Is it 24.5k individually or combined that we can save in 401k? 24.5K per individual per year and $6500 per individual in either a Trad IRA or Roth IRA. You need to cut ex...
by soccerrules
Wed Jun 13, 2018 4:09 pm
Forum: Investing - Help with Personal Investments
Topic: 401K Contribution for Married Couples
Replies: 5
Views: 511

Re: 401K Contribution for Married Couples

Good feedback so far- i concur. Both should be contributing while working. We consider the money we save as OURS not his/hers. Typically the general recommendation 1) Both 401K's up to employer match (even if you don't have the greatest funds you can find something) 2) Roth IRA 3a) Back to Fill up 4...
by soccerrules
Wed Jun 13, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: How to Calculate the Necessary Nest Egg?
Replies: 15
Views: 2031

Re: How to Calculate the Necessary Nest Egg?

Search the forum for "25x" and browse the threads and posts on the subject. aloha j There we go; I can get my mind around a calculator! 25x and a few customizations in the calculator(s) should drive the plan. I didn't ask for a portfolio review because I just moved $125k from Ameriprise to Merrill ...
by soccerrules
Wed Jun 13, 2018 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Interesting Social Security analysis
Replies: 16
Views: 2284

Re: Interesting Social Security analysis

...My other thought is that while it is more at 70, my body may not be able to allow me to travel and enjoy the things I want to do. If I were to take it at 62, there is more to enjoy. $31K is a lot of travel and things to do.... Practically all of us who are delaying SS until 70, are withdrawing t...
by soccerrules
Tue Jun 12, 2018 4:36 pm
Forum: Investing - Help with Personal Investments
Topic: Interesting Social Security analysis
Replies: 16
Views: 2284

Re: Interesting Social Security analysis

corn - When I used FIREcalc last week and change only the age/date of taking SS and the corresponding amount- and left everything else the same. My plan success increased by 10 basis points when I took SS at 62 instead of taking it at 70. I am assuming because I was withdrawing less from my portfoli...
by soccerrules
Tue Jun 12, 2018 3:35 pm
Forum: Personal Consumer Issues
Topic: What To Do About 2001 Honda Odyssey With No AIr
Replies: 16
Views: 1331

Re: What To Do About 2001 Honda Odyssey With No AIr

you don;t indicate how many miles are on the car, but it is a 17 year old car.

Might be time to get something a little newer.

I have an 05 GMC yukon xl and my back A/C has been out for 2-3 years and my main A/C is intermittent.
by soccerrules
Tue Jun 12, 2018 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage or keep cd
Replies: 7
Views: 735

Re: Pay off mortgage or keep cd

3% is not a bad mortgage rate. What percentage of your portfolio does the $100K (in the CD) represent ? Why isn't the $100K in the market ? How close are you to retiring ? Are you going to stay where you are for the next 5, 10, 20 years ? Do you have any other debt? Do you want to be debt free and f...
by soccerrules
Tue Jun 12, 2018 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Are you including SS in your planning model? Are the benefits really that high?
Replies: 148
Views: 11095

Re: Are you including SS in your planning model? Are the benefits really that high?

...In any case I don't see that we have a choice other than to claim at 62, since most of us will have had to claim before we'll know how the shortfall will be resolved, so we have to assume little or no benefits after that time - and get everything we can get while we can get it. My benefits would...
by soccerrules
Mon Jun 11, 2018 4:13 pm
Forum: Investing - Help with Personal Investments
Topic: No Roth 401k - Workaround?
Replies: 9
Views: 772

Re: No Roth 401k - Workaround?

not sure I understand the "in-service rollover". If his/her company does not have a Roth 401K --then he/she should contribute to 401K If he/she wants to do a Roth IRA - Then just use after tax money (savings account/brokerage) to contribute to Roth IRA directly. If he/she is not eligible for direct ...
by soccerrules
Mon Jun 11, 2018 3:38 pm
Forum: Investing - Help with Personal Investments
Topic: Left Advisory Portfolio to do it myself and fear I made mess of things
Replies: 35
Views: 2627

Re: Left Advisory Portfolio to do it myself and fear I made mess of things

Welcome to BH. I would keep reading and not rush to make any more changes until YOU understand "why" you are making the changes. It appears you have 60/40 portfolio of Stocks and Bonds (AA) now -- that is within reason for someone that is 57. The market is likely to have a larger adjustment in the m...
by soccerrules
Mon Jun 11, 2018 2:39 pm
Forum: Investing - Help with Personal Investments
Topic: Which way to save for my child?
Replies: 32
Views: 1820

Re: Which way to save for my child?

I would at least put some in a 529 and then some in taxable, maybe 50%/50%. In our house going to college is well, kind of expected. I know it doesn't always work out that way, but I assume that the vast majority of college educated parents "desire" for theirs kids to also attend college. AND, if th...
by soccerrules
Fri Jun 08, 2018 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

Re: FIREcalc vs Delayed SS

So FIREcalc can't factor in the decisions you can make between 62 and 70, such as, "Crap, the market is tanking. I'd better file for SS rather than continue tapping my IRA." good point it is binary either X$ at 62 or X$ at 70 -- then factor results. Not trying to make the decision now, just found i...
by soccerrules
Fri Jun 08, 2018 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

Re: FIREcalc vs Delayed SS

MP123 wrote:
Fri Jun 08, 2018 3:44 pm
Have you tried running your scenario in http://www.cfiresim.com/ ?

It can be interesting to compare the results to FIRECalc.
I haven't but will try that and report back.
by soccerrules
Fri Jun 08, 2018 4:07 pm
Forum: Personal Consumer Issues
Topic: College: extraneous expenses
Replies: 26
Views: 2060

Re: College: extraneous expenses

It is individual mainly based on what funds you have available. if money is tighter-- then you get by on less. Books/ School Supplies (online access, clickers etc) I would say are probably going to be $500 ish and that depends on what types of materials/supplies you need for your classes. Might be l...
by soccerrules
Fri Jun 08, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

Re: FIREcalc vs Delayed SS

If I can anthropomorphize a little bit, FIRECalc sees delays of payments the same as taking withdrawals. It makes the portfolio more vulnerable to sequence of return risk. Even though SS at age 70 is 180% of the payments at 62, if those eight years of no SS occur during market returns like 1931 or ...
by soccerrules
Fri Jun 08, 2018 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

Re: FIREcalc vs Delayed SS

It's probably the bad sequence of returns in the first 3-5 years biting you. Run it again with an additional $500k of portfolio size and the difference should be considerably less... Isn't the sequence of return risk reduced no matter what the portfolio is because I am withdrawing less from the por...
by soccerrules
Fri Jun 08, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

Re: FIREcalc vs Delayed SS

Isn't the sequence of return risk reduced no matter what the portfolio is because I am withdrawing less from the porfolio by taking SS @ 62 ? adding 500K to beginning portfolio SS @ 62 = 99% SS @ 70 = 94% FWIW I am not attempting to find 100% success, more asking WHY delay taking SS, if this progra...
by soccerrules
Fri Jun 08, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

Re: FIREcalc vs Delayed SS

I noticed that a few months back when I started my deep dive into retirement planning. FIRECalc's primary metric is the number of runs where your portfolio remains positive throughout. It uses a fixed retirement lifespan and is not designed to look at varying longetivity. You would need to run it w...
by soccerrules
Fri Jun 08, 2018 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

Re: FIREcalc vs Delayed SS

It's probably the bad sequence of returns in the first 3-5 years biting you. Run it again with an additional $500k of portfolio size and the difference should be considerably less... Isn't the sequence of return risk reduced no matter what the portfolio is because I am withdrawing less from the por...
by soccerrules
Fri Jun 08, 2018 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: FIREcalc vs Delayed SS
Replies: 16
Views: 718

FIREcalc vs Delayed SS

I have played around some with firecalc site in the past just to see the "what if"s" Yesterday I was running the identical numbers and only adjusting when to taking SS at 62 or 70 and the corresponding expected SS payout amount differences (less at 62). FIREcalc shows that my chances of success of l...
by soccerrules
Fri Jun 08, 2018 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Florida but you are hundreds of miles away
Replies: 33
Views: 2698

Re: Buying a house in Florida but you are hundreds of miles away

I will make the assumption that THIS is the area that they want to live. Now how to find a house ? If it were me I would 1) Spend a lot of time on Zillow to see what is available for sale right now. You can search be location, price, # of rooms etc 2) Once you have an idea of what is out there-- th...
by soccerrules
Fri Jun 08, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Florida but you are hundreds of miles away
Replies: 33
Views: 2698

Re: Buying a house in Florida but you are hundreds of miles away

I will make the assumption that THIS is the area that they want to live. Now how to find a house ? If it were me I would 1) Spend a lot of time on Zillow to see what is available for sale right now. You can search be location, price, # of rooms etc 2) Once you have an idea of what is out there-- the...
by soccerrules
Fri Jun 08, 2018 9:41 am
Forum: Investing - Help with Personal Investments
Topic: Ret'mnt in less than 4 years, want to fine tune my small Roth
Replies: 6
Views: 618

Re: Ret'mnt in less than 4 years, want to fine tune my small Roth

Hitteroad, you might find it beneficial to have your entire portfolio looked at. This would give you a chance to finish an overhaul (if you want one) before retirement. See how to do this in the link at the bottom of this message. It's some work, but you will learn quite a bit doing it. :happy Good...
by soccerrules
Fri Jun 08, 2018 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Investing or Paying Off The House
Replies: 14
Views: 1195

Re: Investing or Paying Off The House

We are about the same age with the same FIRE target
I have a $80K balance on mortgage that will be paid off in 6.5 years.
If I were to receive any "windfall", paying off the mortgage would be my first action. (I have thought about selling some assets to pay mine off.)
by soccerrules
Fri Jun 08, 2018 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Should I pay off my HELOC, Refinance or Invest
Replies: 18
Views: 1367

Re: Should I pay off my HELOC, Refinance or Invest

Learningandliving wrote:
Wed Jun 06, 2018 5:13 pm
Thanks, I have the cash to pay it off so sounds like that is the best thing to do. I have the ability to refinance into one loan, probably at 4% or so. Does that change your opinion at all?
another vote for the risk free 7% return -- pay it off!
by soccerrules
Thu Jun 07, 2018 4:35 pm
Forum: Investing - Help with Personal Investments
Topic: which vanguard funds for my situation?
Replies: 7
Views: 524

Re: which vanguard funds for my situation?

swift- welcome and congrats on your 1st post. I believe the wiki's are geared to help educate you so you can make the best decision for YOU. Although many of the BH members use Vanguard, others use Fidelity and Schwab. They all offer Low cost Index fund options. There are a decent number of BH's tha...
by soccerrules
Thu Jun 07, 2018 4:21 pm
Forum: Investing - Help with Personal Investments
Topic: Large inheritance -- looking for advice
Replies: 56
Views: 6513

Re: Large inheritance -- looking for advice

sorry for your loss. The one piece of advice that I have read on this board often would be -- Take your time . There is really no reason to rush. Financially speaking, you have the potential of hurting yourself more by moving to quickly, than by waiting and gaining wisdom. I am sure you are overwhel...
by soccerrules
Thu Jun 07, 2018 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Reality Check
Replies: 16
Views: 2346

Re: Social Security - Reality Check

This is how I understand it, but your situation is opposite of mine. I'm 2 years older than my spouse who will not have a SS benefit on their own earnings. She would get 50% of your SS benefit- based on when you claim , not to exceed 50% of your FRA benefit, assuming you claim at your FRA or later....
by soccerrules
Thu Jun 07, 2018 1:20 pm
Forum: Personal Consumer Issues
Topic: Road Hazard Warranties
Replies: 7
Views: 544

Re: Road Hazard Warranties

In looking at my service record for the 4 cars we own over the last 4 years, we have used the road hazard warranty 8 times. 6 of the 8 were replacement tires and tied to 2 foreign made cars. More performance based tires, softer, and more expensive. I spent $20-35 to replace a $200+ tire 6 times over...
by soccerrules
Wed Jun 06, 2018 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security - Reality Check
Replies: 16
Views: 2346

Re: Social Security - Reality Check

I do not believe that is correct. This is how I understand it, but your situation is opposite of mine. I'm 2 years older than my spouse who will not have a SS benefit on their own earnings. She would get 50% of your SS benefit- based on when you claim , not to exceed 50% of your FRA benefit, assumin...
by soccerrules
Wed Jun 06, 2018 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 433
Views: 50383

Re: How much money do you want to retire?

I go back and forth on these questions of when can I retire and how much is enough, literally on a daily basis. Some days I think I can live on air as long as I don't have to go to work, and other days I decide that I don't want to just sit around all day in retirement so I've got to have (lots of)...
by soccerrules
Wed Jun 06, 2018 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Insurance for non-married couples
Replies: 17
Views: 846

Re: Insurance for non-married couples

goingup wrote:
Wed Jun 06, 2018 10:52 am
At 29 with a modest salary and no assets you don't need an umbrella policy. Carry adequate car insurance.
+1
by soccerrules
Tue Jun 05, 2018 3:31 pm
Forum: Personal Finance (Not Investing)
Topic: Should we move out from that rental?
Replies: 7
Views: 504

Re: Should we move out from that rental?

Currently we are making around $110K, saving in retirement accounts around $40K, net worth $120K, age: late 30's. if you feel your safety is in jeopardy then a move would seem a need. If you can stay where you are and increase your retirement savings I would do that. I read this comment by the OP t...