Search found 206 matches

by MP123
Sun Dec 17, 2017 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: How much Auto Insurance to get
Replies: 12
Views: 732

Re: How much Auto Insurance to get

You could also have liability related to home ownership, boats, other toys, and so on. An umbrella policy would cover that while a high limit Auto policy wouldn't do anything for a slip/fall injury at your house for example.
by MP123
Sun Dec 17, 2017 1:23 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401(k) employer matching
Replies: 8
Views: 569

Re: Solo 401(k) employer matching

Good point about the form. Going back to the contributions part, just to re-confirm, after making the FICA deductions from Dec paycheck the remaining amount can be salary deferral if need to be. As for the profit sharing contributions, it can be any amount as long as the total for the year remains ...
by MP123
Thu Dec 14, 2017 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Wow. Just Wow.
Replies: 29
Views: 4792

Re: Wow. Just Wow.

I bet you'll find a nice big fat EJ ad in the paper every day for the next year.

Kind of the way "news" works these days.
by MP123
Sun Dec 10, 2017 2:25 pm
Forum: Investing - Theory, News & General
Topic: likely date for a bitcoin crash: does this make sense to you?
Replies: 38
Views: 2471

Re: likely date for a bitcoin crash: does this make sense to you?

Lauretta wrote:
Sun Dec 10, 2017 2:18 pm
what about Amazon, also quoted in the post you're commening on? I didn't think they accepted it (and give a 5% discount!) Is it true?
Amazon doesn't take bitcoin at this point. I wonder if any of the merchants mentioned in that post actually do?
by MP123
Sun Dec 10, 2017 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Can/Should early retiree avoid ACA tax credits?
Replies: 55
Views: 3467

Re: Can/Should early retiree avoid ACA tax credits?

Have you priced your premiums with/without the subsidies? That might help put your mind at ease. :happy Seriously, unsubsidized ACA plans at your age range are very expensive. I see nothing wrong with taking a subsidy (while you still can). In some states if your income is too low you'll end up on M...
by MP123
Sat Dec 09, 2017 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: doing one time work remotely to another state
Replies: 2
Views: 233

Re: doing one time work remotely to another state

It sounds as if the work is being done in your state of residence and you'd need to file a return there, not in the remote state.
by MP123
Fri Dec 08, 2017 3:00 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 19639

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

It seems that one of the big bitcoin exchanges also owns another cryptocurrency called "Tether". Some people think the exchange is driving the price of bitcoin higher by creating Tether out of thin air and using it to buy bitcoin. https://qz.com/1149772/the-murky-relationship-between-bitfinex-and-te...
by MP123
Thu Dec 07, 2017 12:55 pm
Forum: Investing - Theory, News & General
Topic: When Bitcoin blows-up
Replies: 55
Views: 4257

Re: When Bitcoin blows-up

Seriously, Uncle Sam is probably getting a windfall from all the folks cashing in on Bitcoin. Of course, the reverse will occur when it blows up and they're taking losses or TLH. I doubt old Uncle Sam knows anything about most of the people cashing in on bitcoin. :happy Privacy is one of the advant...
by MP123
Wed Dec 06, 2017 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: CBOE to launch bitcoin futures trading on Dec 10, 2017
Replies: 12
Views: 832

Re: CBOE to launch bitcoin futures trading on Dec 10, 2017

As far as I know the only way to buy bitcoin through regular market channels currently is GBTC. You can of course buy it through bitcoin exchanges and hold it in digital wallets too but my impression is that this is way too complex for many people. Besides having a 2% expense ratio GBTC also represe...
by MP123
Tue Dec 05, 2017 3:31 pm
Forum: Investing - Theory, News & General
Topic: Jack Bogle Says ‘Avoid Bitcoin Like the Plague’
Replies: 190
Views: 18095

Re: Jack Bogle Says ‘Avoid Bitcoin Like the Plague’

The next Tulip Craze: CryptoKitties http://mashable.com/2017/12/04/how-to-play-cryptokitties/#i_.ihG2QAsqI https://www.bloomberg.com/news/articles/2017-12-04/cryptokitties-quickly-becomes-most-widely-used-ethereum-app Thank you forthe links. This is hilarious :D , CryptoKitties is a digital goods t...
by MP123
Tue Dec 05, 2017 3:12 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 19639

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

It seems to me that the physical size of the bitcoin blockchain itself is going to get to be a problem. Right now it's closing in on 150 gig (https://blockchain.info/charts/blocks-size?timespan=all). If it's really going to store every transaction for all time it will quickly become unmanageably lar...
by MP123
Mon Dec 04, 2017 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Is This How the ACA Can Help Me?
Replies: 10
Views: 999

Re: Is This How the ACA Can Help Me?

That's interesting. For some folks in your area, Silver plans may still be a better deal due to the cost-sharing reductions that are available to folks with incomes under 250% of the poverty line. Yes, thanks for pointing that out for others. CSR is only possible with a Silver plan. But PTC (tax cr...
by MP123
Mon Dec 04, 2017 2:24 pm
Forum: Personal Consumer Issues
Topic: Trip to Los Cabos - do I need to have Pesos?
Replies: 12
Views: 1205

Re: Trip to Los Cabos - do I need to have Pesos?

USD is widely accepted in Mexico but you'll need to deal with the exchange rate which is pretty much up to you and the cabbie/shopkeeper to negotiate. You'll also be getting change in Pesos so you'll be dealing with them anyway. Since prices are posted in Pesos it's easiest to just use them but no p...
by MP123
Mon Dec 04, 2017 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: Help me understand the ACA Cliff
Replies: 21
Views: 1637

Re: Help me understand the ACA Cliff

rec7 wrote:
Mon Dec 04, 2017 12:24 pm
OK I ran the numbers again at 48k I was at 122 at 49k it went to 431 for the cheapest bronze. It is a $309 difference. That is a big deal.
And those premiums are for a relatively young person. Try them again for a 60 year old. :shock:
by MP123
Mon Dec 04, 2017 11:56 am
Forum: Personal Finance (Not Investing)
Topic: Help me understand the ACA Cliff
Replies: 21
Views: 1637

Re: Help me understand the ACA Cliff

When I use this link https://www.healthinsurance.org/obamacare/subsidy-calculator/ To go from 47k to 48k you lose $132 a year where I live But what happens when you go to $49k? I don't know where you live but you can also try the US averages here: https://www.kff.org/interactive/subsidy-calculator/...
by MP123
Sun Dec 03, 2017 12:58 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 19639

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

My (admittedly limited) understanding is that "miners" are paid bitcoins for recording transactions in the blockchain. Once all the bitcoins have been mined how are the people/nodes maintaining the blockchain going to make any money? I understand the inflationary aspect of increasing the number of ...
by MP123
Sun Dec 03, 2017 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: retirement age and life span
Replies: 16
Views: 1173

Re: retiirement age and life span

LOL! What a joke.

I guess this is a good reminder not to believe everything you read on the internet. :D
by MP123
Sun Dec 03, 2017 12:24 pm
Forum: Investing - Theory, News & General
Topic: What is Bitcoin?
Replies: 263
Views: 35693

Re: What is Bitcoin?

Bitcoin "mining" is computationally inefficient and resource intensive by design, it's part of what insures the legitimacy of the blockchain records. It's also designed to become more and more resource intensive as more nodes join by making the mining job harder so that there's still only one block ...
by MP123
Sat Dec 02, 2017 5:01 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 19639

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

My (admittedly limited) understanding is that "miners" are paid bitcoins for recording transactions in the blockchain. Once all the bitcoins have been mined how are the people/nodes maintaining the blockchain going to make any money? I understand the inflationary aspect of increasing the number of b...
by MP123
Sat Dec 02, 2017 4:32 pm
Forum: Investing - Theory, News & General
Topic: bitcoin - is there any real value here or is it a pure Ponzi scam?
Replies: 236
Views: 19639

Re: bitcoin - is there any real value here or is it a pure Ponzi scam?

As far as the non-inflationary, I'm not sure what to tell you if you don't believe that there will only ever be 21M bitcoin. It is literally in the protocol. It's why I got involved with bitcoin in the first place. If anything it will be deflationary because lots of bitcoins have already been lost....
by MP123
Sat Dec 02, 2017 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Plan for the Next Eight Years - Any Concern or Red Flag?
Replies: 21
Views: 2764

Re: Plan for the Next Eight Years - Any Concern or Red Flag?

You seem to be on the right path and doing well. The biggest question I can see is college expenses. When do the kids start? Do you have a 529 for them? Relying on loans or cash flowing the bills? In state schools? Private? on so on. You could easily be looking at $50k per kid per year for tuition/r...
by MP123
Sat Dec 02, 2017 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Out of state S Corp for consulting?
Replies: 8
Views: 575

Re: Out of state S Corp for consulting?

Your S Corp income will come onto your personal tax return via form K-1. So if you live in a state with income tax it will still be taxed regardless of where it's incorporated.
by MP123
Fri Dec 01, 2017 4:09 pm
Forum: Personal Finance (Not Investing)
Topic: The College Bubble - investment opportunities after the collapse?
Replies: 114
Views: 7796

Re: The College Bubble - investment opportunities after the collapse?

For profit publicly traded distance education companies would seem to be an opportunity if we accept the above premises.

Unfortunately a brief review of the recent history of University of Phoenix and Apollo Education might suggest otherwise.
by MP123
Fri Dec 01, 2017 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: US Tax Law Question- Safe Harbor for Estimated Quarterly Payments
Replies: 9
Views: 957

Re: US Tax Law Question- Safe Harbor for Estimated Quarterly Payments

It sounds like you've paid >100% of last years taxes already. So assuming your AGI is under $150,000 you should have a safe harbor. An additional safe harbor is paying at least 90% of the taxes due for the year so that should cover you too. If AGI exceeds $150,000 for 2017, does the safe harbor for...
by MP123
Fri Dec 01, 2017 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: US Tax Law Question- Safe Harbor for Estimated Quarterly Payments
Replies: 9
Views: 957

Re: US Tax Law Question- Safe Harbor for Estimated Quarterly Payments

It sounds like you've paid >100% of last years taxes already. So assuming your AGI is under $150,000 you should have a safe harbor. An additional safe harbor is paying at least 90% of the taxes due for the year so that should cover you too.
by MP123
Thu Nov 30, 2017 6:08 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7227

Re: Does it make sense to drop health insurance?

However, if we keep our income under about $65k, we're eligable [sic] for a subsidy that brings the cost down to $55 a month. Yes, fifty-five. So we would be highly incentivized to keep our income low. So we'd drop from $32k per year down to $4.6 k. It makes no sense, but it's the law. This confuse...
by MP123
Thu Nov 30, 2017 2:42 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7227

Re: Does it make sense to drop health insurance?

You might want to check this out: https://www.kff.org/interactive/subsidy-calculator/ For two people making $65k in my zip and at our ages, we get zero subsidy. Even taking US average, 2 people, 60 yo, there is no subsidy. The levels people quote for getting subsidies are often incorrect. It is a m...
by MP123
Thu Nov 30, 2017 2:30 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7227

Re: Does it make sense to drop health insurance?

However, if we keep our income under about $65k, we're eligable [sic] for a subsidy that brings the cost down to $55 a month. Yes, fifty-five. So we would be highly incentivized to keep our income low. So we'd drop from $32k per year down to $4.6 k. It makes no sense, but it's the law. This confuse...
by MP123
Thu Nov 30, 2017 1:34 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7227

Re: Does it make sense to drop health insurance?

However, if we keep our income under about $65k, we're eligable [sic] for a subsidy that brings the cost down to $55 a month. Yes, fifty-five. So we would be highly incentivized to keep our income low. So we'd drop from $32k per year down to $4.6 k. It makes no sense, but it's the law. This confuse...
by MP123
Wed Nov 29, 2017 6:30 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7227

Re: Does it make sense to drop health insurance?

If our health insurance premiums go up 20 percent per year, we will be looking at premiums of $2,700 per month five years from now. I actually feel that is a conservative projection. (Google "health insurance adverse selection death spiral" to see why.) Would premiums that high change your opinion?...
by MP123
Wed Nov 29, 2017 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Moved But Which State to File In?
Replies: 6
Views: 470

Re: Moved But Which State to File In?

It sounds as if you were a part year resident in both states and would need to file a part year return in each for 2017. It's more work but probably won't increase your taxes that much since you'll be splitting your income between them.
by MP123
Wed Nov 29, 2017 5:37 pm
Forum: Personal Consumer Issues
Topic: Random package from Amazon - early warning of identity theft?
Replies: 19
Views: 2966

Re: Random package from Amazon - early warning of identity theft?

In light of the season perhaps it's an unexpected gift from someone?

My Amazon packages never have packing slips or anything like that.
by MP123
Wed Nov 29, 2017 2:03 pm
Forum: Personal Consumer Issues
Topic: Scammed by Enterprise Car Rental
Replies: 35
Views: 4202

Re: Scammed by Enterprise Car Rental

barnaclebob wrote:
Wed Nov 29, 2017 2:00 pm
Can you file a chargeback on your CC?
This would be a good way to start at least.
by MP123
Wed Nov 29, 2017 12:47 pm
Forum: Personal Consumer Issues
Topic: Does it make sense to drop health insurance?
Replies: 198
Views: 7227

Re: Does it make sense to drop health insurance?

I pay similar premiums and completely sympathize with you on how crazy they've become. But $25,600 would look like a bargain if you or someone in your family came down with a serious health problem. I don't really think you can self insure for healthcare unless you are very comfortable with writing ...
by MP123
Tue Nov 21, 2017 12:29 pm
Forum: Personal Finance (Not Investing)
Topic: Why not take Social Security at 62
Replies: 334
Views: 26176

Re: Why not take Social Security at 62

Despite the advantages of waiting until 70 this report suggests that almost no one does.

http://crr.bc.edu/wp-content/uploads/20 ... B_15-8.pdf

Only 4% of women and 2% of men wait that long. Presumably they're all Bogleheads :D

Almost half claim at 62. Make of that what you will.
by MP123
Mon Nov 20, 2017 6:42 pm
Forum: Investing - Theory, News & General
Topic: Book for new college graduate
Replies: 19
Views: 1238

Re: Book for new college graduate

+2 I'd also recommend The Only Investment Guide You'll Ever Need by Andrew Tobias It covers quite a bit of personal finance as well as investing and is written in an entertaining and easy to read way. Not at all a dry textbook of complex theories. Would make a great gift for a College or High School...
by MP123
Fri Nov 17, 2017 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Risks of Non-ACA Compliant Health Insurance?
Replies: 66
Views: 2890

Re: Risks of Non-ACA Compliant Health Insurance?

How much is an ACA compliant HMO plan in your area? Where I live the it's 2/3 the price of the EPO plans. Yes, it may be more restrictive about which doctor you can see but it's hard to really weigh that unless you have a current condition and see a particular doctor. I would reconsider the need for...
by MP123
Thu Nov 16, 2017 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: question for cpa? state income tax when living / moving back and forth in CA and WA?
Replies: 17
Views: 1282

Re: question for cpa? state income tax when living / moving back and forth in CA and WA?

In my experience if you have nexus in California the FTB will be very aggressive about expecting a tax return from you. The fact that you own a townhome in CA will likely cause them to estimate your taxes due and send you a bill and demand for payment regardless of where you consider your state of r...
by MP123
Mon Nov 13, 2017 6:15 pm
Forum: Personal Consumer Issues
Topic: Tipping in living wage state. Redux.
Replies: 118
Views: 6981

Re: Tipping in living wage state. Redux.

I usually tip 20% assuming that the sever is making $2.x something as a base.

But you're right that in Seattle at least the minimum wage is $15 so adding an additional 20% to that seems a bit over the top.

Hard to tell though if you travel what the local minimum wage is.
by MP123
Mon Nov 13, 2017 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella insurance
Replies: 8
Views: 1064

Re: Umbrella insurance

Does your current insurer not offer Umbrella policies? Generally they will have specific requirements for the underlying policies including having maximum coverage amounts. You wouldn't want to find your Umbrella didn't cover you because of some technicality in the underlying auto policy for example...
by MP123
Mon Nov 13, 2017 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: "Starter House" - to pay off or not?
Replies: 13
Views: 1517

Re: "Starter House" - to pay off or not?

I wouldn't pay it off if you plan to move in 2 years. This is a case where cash is king. You can make a more competitive offer on your next home, plus maybe put down at least 20% to avoid PMI. I agree that you shouldn't count on using the HELOC for your down payment 2 years from now. Check the fine ...
by MP123
Sun Nov 12, 2017 3:02 pm
Forum: Investing - Theory, News & General
Topic: The Personal Black Swan
Replies: 46
Views: 5880

Re: The Personal Black Swan

All things being equal there's a 50% chance that you won't live to your "life expectancy". And that's not a Black Swan at all but rather a certainty at some point. It may be something that we all try to distract ourselves from by focusing on relatively predictable financial matters. You can only pla...
by MP123
Thu Nov 09, 2017 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Liability insurance for college students in dorms ?
Replies: 13
Views: 1085

Re: Liability insurance for college students in dorms ?

I would focus on the auto liability issues first and be they are covered under your auto policy and umbrella even if they don't have a car currently. Seems to me that's the biggest exposure. Can you get a renter's policy with liability coverage while living in a dorm? I'm a little surprised that you...
by MP123
Tue Nov 07, 2017 12:55 pm
Forum: Personal Consumer Issues
Topic: Does Our Chimney Need a Liner?
Replies: 8
Views: 871

Re: Does Our Chimney Need a Liner?

Your woodstove will work much better with a liner than with an open chimney. The draft will be stronger and hotter through a 6 inch tube than though a wide open chimney which will make it much easier to run the stove efficiently. Cost depends on length but I put in a roughly 15 foot length for under...
by MP123
Tue Nov 07, 2017 12:11 pm
Forum: Investing - Help with Personal Investments
Topic: UTMA: Trying to Make it Hassle-Free
Replies: 7
Views: 646

Re: UTMA: Trying to Make it Hassle-Free

Filing a return for her or including her on your return isn't very hard. I wouldn't set out to minimize any gains just to avoid that. That's sort of like the tail wagging the dog.

I would also consider a 529 as previously mentioned.
by MP123
Tue Nov 07, 2017 11:19 am
Forum: Investing - Help with Personal Investments
Topic: Social Security - general question
Replies: 44
Views: 5109

Re: Social Security - general question

That's a great calculator, and has a nice way to display bend points. And it has a super-smart way to allow a user to quickly input their own personal data from an SS statement. I know the coder responsible for the site, and he's a great guy. About a year ago I helped troubleshoot the math and fix ...
by MP123
Sun Nov 05, 2017 2:41 pm
Forum: Investing - Help with Personal Investments
Topic: Preparing For "Early Retirement" In A Couple of Years
Replies: 77
Views: 7667

Re: Preparing For "Early Retirement" In A Couple of Years

Keep socking away money until the kids are out of college. Then retire. Are you really planning to live on $25k/yr for the next 60 years? With a family of four? Doesn't sound like much fun especially since you clearly have other options. I'd suggest you take another long hard look at that budget. Yo...
by MP123
Thu Nov 02, 2017 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: college kid - give car or put back on my insurance?
Replies: 12
Views: 904

Re: college kid - give car or put back on my insurance?

I'll add that in my state it was possible to title the car in my daughter's name and provide insurance coverage on my policy. That approach might be the best of both worlds if it works for you.
by MP123
Thu Nov 02, 2017 3:52 pm
Forum: Personal Finance (Not Investing)
Topic: college kid - give car or put back on my insurance?
Replies: 12
Views: 904

Re: college kid - give car or put back on my insurance?

Check with your agent, my understanding is that it varies by state. As a parent of a dependent college student I think it's likely that you would named in a suit regardless of how the car was titled especially if you gave it to him and had assets. Don't forget your Umbrella policy, that may give bet...
by MP123
Thu Nov 02, 2017 3:23 pm
Forum: Personal Consumer Issues
Topic: Bank accounts and minors
Replies: 11
Views: 524

Re: Bank accounts and minors

I like the idea of opening a bank account but I'm afraid the reality is the account fees will eat it up in a couple of months.

Of course that's a lesson too in it's own way...