Search found 160 matches

by Frank Grimes
Fri Sep 13, 2019 1:40 pm
Forum: Personal Investments
Topic: New Graduate Portfolio/General Help
Replies: 8
Views: 449

Re: New Graduate Portfolio/General Help

2. Nothing wrong with using traditional 401k. And if you're able to roll that old IRA into your 401k that'd make it even better. I don't know about the target date option being too passive - if you're using the three funds I mentioned it will still be very passive - it's just something that will mak...
by Frank Grimes
Fri Sep 13, 2019 12:13 pm
Forum: Personal Investments
Topic: New Graduate Portfolio/General Help
Replies: 8
Views: 449

Re: New Graduate Portfolio/General Help

Hitting a couple of your questions: Question 2: Is that going to be set up as a traditional 401k or a Roth 401k? Given the income level I'd set it up as Roth 401k. You want 10% bonds, so if you go with a Roth 401k the tax efficient place to put the bond holding would be in your existing traditional ...
by Frank Grimes
Fri Aug 30, 2019 12:00 pm
Forum: Personal Consumer Issues
Topic: Is this the right way to unclog a sink?
Replies: 30
Views: 1799

Re: Is this the right way to unclog a sink?

Sometimes the hooks on the drain zip tools snag on the stopper lever so I have also used a tool I made from a stretched out coat hanger to scrape the sides of the pipe from above. Or I just take off the P trap and go to town. No drano needed.
by Frank Grimes
Fri Aug 30, 2019 10:25 am
Forum: Personal Consumer Issues
Topic: Baby Gift Suggestions
Replies: 14
Views: 720

Re: Baby Gift Suggestions

Unless they have a registry, they probably have most baby supplies they need including clothes especially if they had boys already.

What kind of diapers are they using - get a crate or two of those

Gifts of time is a good one - watch the older kids for a bit.
by Frank Grimes
Fri Aug 30, 2019 8:47 am
Forum: Personal Consumer Issues
Topic: How to clean baked on "carbon" from corners of old cookie sheets
Replies: 27
Views: 2077

Re: How to clean baked on "carbon" from corners of old cookie sheets

To clean the cooking surfaces of my stainless steel pots and pans I boil a little white vinegar and then add a little baking soda to make a school volcano. Then the gunk scrubs right off. Maybe that'd work, I think adding the heat helps lift things even easier.
by Frank Grimes
Thu Aug 29, 2019 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Gifts of appreciated stock to grandchildren
Replies: 11
Views: 977

Re: Gifts of appreciated stock to grandchildren

Thanks JJ. Good to hear that things are going well as far as responsible use of the UTMAs. Hard to tell at this point how it'll work for my kids. I am at the moment unable to trust them to use the potty, let alone manage a future windfall. So regardless of whether we/kids owe any kiddie tax will we ...
by Frank Grimes
Thu Aug 29, 2019 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Gifts of appreciated stock to grandchildren
Replies: 11
Views: 977

Re: Gifts of appreciated stock to grandchildren

Thanks for the clarifications. At a minimum on the taxes piece, I can fool around with prior year turbo tax and plug in numbers to make sure I'm getting the expected result (zero tax), kind of like how I once figured out how to document a backdoor roth in my tax return. That'll essentially be a tria...
by Frank Grimes
Wed Aug 28, 2019 8:47 pm
Forum: Personal Finance (Not Investing)
Topic: Gifts of appreciated stock to grandchildren
Replies: 11
Views: 977

Re: Gifts of appreciated stock to grandchildren

Thanks for the replies. It makes sense to suggest they wait until [gulp] death for this, I did think of that too, but in all likelihood that will be long after my kids and nieces/nephews are needing college money. While I am mostly covered on public school college costs, my unborn nieces and nephews...
by Frank Grimes
Wed Aug 28, 2019 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Gifts of appreciated stock to grandchildren
Replies: 11
Views: 977

Re: Gifts of appreciated stock to grandchildren

An additional note regarding avoiding the kiddie tax in options 2 and 3, per the wiki it looks like the kiddie tax calculation was changed to trust tax rates. So per the above, these gifts would generate LTCGs and then any dividends and interest. If I am trying to avoid kiddie tax I will need to kee...
by Frank Grimes
Wed Aug 28, 2019 10:38 am
Forum: Personal Investments
Topic: Mer. Lynch Buddy ... Bonds in Tax Account ... Stocks Only
Replies: 24
Views: 1627

Re: Mer. Lynch Buddy ... Bonds in Tax Account ... Stocks Only

You could probably just open a Merrill Edge account to get all your accounts under one roof and then implement your indexing strategy yourself. How will they (or you) know who will be the laggards in the index going forward? Whatever wealth and tax planning they'll provide at this stage is probably ...
by Frank Grimes
Wed Aug 28, 2019 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Gifts of appreciated stock to grandchildren
Replies: 11
Views: 977

Gifts of appreciated stock to grandchildren

Sorry for the wall of text. Questions are at the bottom. Spouse and I have two kids aged 4 and 2. We have existing 529s set up for them as beneficiaries which we have aggressively funded thus far. Their balances are approx. $90k and $60k respectively so we are already close to being fully funded for...
by Frank Grimes
Fri Aug 23, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: I spend no money so am I over-saving for retirement?
Replies: 54
Views: 5152

Re: I spend no money so am I over-saving for retirement?

This requires an in-depth look at your finances, starting with what your goals are. At this point I do not have any idea.. Sounds like the options are spend, pass down or donate.. Spending is most likely out.. Donating I am not too sure about.. Passing down, also not too sure about.. If you're not ...
by Frank Grimes
Tue Aug 13, 2019 3:02 pm
Forum: Personal Investments
Topic: How can I accomplish "Locking in Gains"
Replies: 53
Views: 3424

Re: How can I accomplish "Locking in Gains"

What's wrong with rebalancing via contributions? that's the way I do it too, as do lots of folks in the accumulation stage. If you "locked in the gains" right now by selling your entire stock allocation, you would then have an allocation of 80% cash and 20% bonds. At which point you'd have to turn a...
by Frank Grimes
Wed Jul 17, 2019 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 102
Views: 6028

Re: College cost prediction and savings for 5, 3, and newborn

We have a 4YO and 2YO. Similar to others, we're wanting to take advantage of the 529 tax free growth (after maxing out other retirement accts and goals) but don't want to risk overfunding by too much. Our flagship state school runs about 20k all in cost for in-state students (per Vanguard's college ...
by Frank Grimes
Fri Jul 12, 2019 4:45 pm
Forum: Personal Consumer Issues
Topic: Automatic Watches
Replies: 92
Views: 5533

Re: Automatic Watches

My daily driver is a ~$350 Hamilton automatic that runs a varying +/- 5s per day which is pretty good for the price. I just have a recurring phone reminder for every few days to set it to my phone's time as by that time it's off by 10-20 seconds. Which is no big deal, I just like fiddling with it so...
by Frank Grimes
Tue Jul 09, 2019 12:30 pm
Forum: Personal Investments
Topic: 34yo, baby on way, leaving expensive financial advisor... Please Help!
Replies: 27
Views: 2652

Re: 34yo, baby on way, leaving expensive financial advisor... Please Help!

If you're intending to set up a three fund portfolio (total stock, total international, total bond), SPY and VIMSX are not entirely incompatible with that so I maybe would not rush to dump them. That combination is not exactly the same as total stock market but it's close enough that I might keep it.
by Frank Grimes
Tue Jul 09, 2019 10:44 am
Forum: Personal Consumer Issues
Topic: Buying a Smoker
Replies: 118
Views: 6931

Re: Buying a Smoker

As the OP, I do own a Weber gas grill that I'm quite happy with. I might consider upgrading it, only it will not die. I had to replace the burner tubes and the grates once each due to rust and wear, but this was not expensive, simple to do, and reasonable maintenance given the use and wear it's see...
by Frank Grimes
Tue Jul 09, 2019 10:42 am
Forum: Personal Consumer Issues
Topic: Buying a Smoker
Replies: 118
Views: 6931

Re: Buying a Smoker

I also started out with a cheap Brinkmann which I modified for better performance. Out of the box it's near unusable but with modifications you can make it work and create delicious BBQ. You definitely nailed the biggest weakness in that it requires constant monitoring throughout the day for temps, ...
by Frank Grimes
Sun Jun 30, 2019 8:34 pm
Forum: Personal Finance (Not Investing)
Topic: What are next steps to managing our money?
Replies: 17
Views: 2041

Re: What are next steps to managing our money?

Gill wrote:
Sun Jun 30, 2019 2:12 pm
Frank Grimes wrote:
Sun Jun 30, 2019 1:51 pm
Check to see if any of those savings bonds have matured and go cash them in if so
How could they have reached final maturity when she’s only 27?
Gill
Yup brain fart on the age. I had recently found some of my wife’s old bonds purchased in the 80s that had matured and it was top of mind.
by Frank Grimes
Sun Jun 30, 2019 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: What are next steps to managing our money?
Replies: 17
Views: 2041

Re: What are next steps to managing our money?

Check to see if any of those savings bonds have matured and go cash them in if so
by Frank Grimes
Thu Jun 20, 2019 10:33 am
Forum: Personal Consumer Issues
Topic: Moving to North Carolina from NYC
Replies: 99
Views: 14942

Re: Moving to North Carolina from NYC

Just don't put that sugary brown "barbecue sauce" on your pulled pork, which by the way is called barbecue, which by the way is a noun and not a verb.
by Frank Grimes
Fri Apr 26, 2019 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Examples of financial accounting rules not applicable to personal finance?
Replies: 60
Views: 2861

Re: Examples of financial accounting rules not applicable to personal finance?

I am going to throw this out for discussion for the accountants. It has been stated by several people here that a business depreciates buildings while most homes "appreciate" in value. Is it not correct that the houses also depreciate, but the value of the house is "marked to market" when one place...
by Frank Grimes
Wed Apr 24, 2019 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Examples of financial accounting rules not applicable to personal finance?
Replies: 60
Views: 2861

Re: Examples of financial accounting rules not applicable to personal finance?

Honey that was a particularly bad fight, better credit that contingent liability!
by Frank Grimes
Wed Apr 24, 2019 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Examples of financial accounting rules not applicable to personal finance?
Replies: 60
Views: 2861

Re: Examples of financial accounting rules not applicable to personal finance?

I'd question why you need to prepare your personal records using financial accounting rules to that level of detail. Good question. Ppl may differ why they keep records. Personally, I do it so that I can compare my income/spending & saving rates year to year (or month to month). Having a one time b...
by Frank Grimes
Wed Apr 24, 2019 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Examples of financial accounting rules not applicable to personal finance?
Replies: 60
Views: 2861

Re: Examples of financial accounting rules not applicable to personal finance?

Yeah accrual basis will get way more complex than just determining when to record your CC payment as an expense. The previously mentioned example of the way you treat investments under financial accounting does not have a lot of utility for personal finance. I'd question why you need to prepare your...
by Frank Grimes
Fri Apr 19, 2019 12:17 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 948
Views: 99872

Re: What frugal thing did you do today?

Made morning coffee for self and spouse. This bag of beans cost about $3 on sale and a bag lasts about a week. So 7 days x 1 travel mug each = 14 travel mugs for $3. Compare that to getting the equivalent at a coffee shop for about $2.50 for a large black coffee. That would be $35 for 14 large black...
by Frank Grimes
Thu Apr 18, 2019 3:30 pm
Forum: Personal Investments
Topic: Tax Advantaged maxed out
Replies: 5
Views: 592

Re: Tax Advantaged maxed out

Just buy tax exempt bond funds in your taxable accounts if you need more bond allocation than what your 401k/roth space can do.
by Frank Grimes
Thu Apr 18, 2019 3:26 pm
Forum: Personal Consumer Issues
Topic: Electric smoker
Replies: 26
Views: 1295

Re: Electric smoker

Weber Smokey Mountain charcoal smoker. Fill it up one time with briquettes and layer some chips in the coals. Then after lighting put larger wood chunks on. Visit after about 30 mins to adjust the vents once it gets up to temp. Then maybe 2-3 times more throughout a 12 hour session to adjust vents a...
by Frank Grimes
Mon Apr 15, 2019 5:06 pm
Forum: Personal Consumer Issues
Topic: Soon to be dad, how to prepare
Replies: 127
Views: 6750

Re: Soon to be dad, how to prepare

If you're breastfeeding, get freezer bags for excess milk. Production will probably exceed demand for a while when Junior is small. At least that was the case for our kids. Pumping the excess helps relieve discomfort when that happens, and will be helpful in the future when the supply starts waning....
by Frank Grimes
Sat Apr 13, 2019 1:11 pm
Forum: Personal Consumer Issues
Topic: Gardening 2019
Replies: 111
Views: 9899

Re: Gardening 2019

In NC we had some fairly cold weather up until a couple weeks ago, including a frost. So I only recently put out my tomatoes, cucumbers, basil and radish seeds. Fairly basic setup in a raised bed but the deer and moles are aggressive when the plants are small so I just have to cross my fingers till ...
by Frank Grimes
Fri Mar 29, 2019 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: How often do you check your net worth?
Replies: 257
Views: 15533

Re: How often do you check your net worth?

True net worth? Never, because I'm not going to try to accurately value my house and cars and stuff

Investment balances? When I have a bad day at work, which is all too often lately...
by Frank Grimes
Fri Mar 29, 2019 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Anybody else get a huge tax increase due to SALT deduction changes?
Replies: 101
Views: 7403

Re: Anybody else get a huge tax increase due to SALT deduction changes?

As I posted in another thread, my total taxes (MFJ, 32% bracket) went WAY down (by 17%) due primarily to the changes in tax tables and no more AMT. This more than offset the loss of my itemized SALT.

The child tax credits (2 kids) offset the loss of personal exemptions as well.
by Frank Grimes
Fri Mar 29, 2019 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: [2018 tax return - How does it compare to previous years?]
Replies: 441
Views: 32850

Re: [2018 tax return - How does it compare to previous years?]

I figured going into the process that I'd be screwed on underpayment given the 10k cap on SLT on schedule A. Historically we have owed about $10k extra every year when filing - MFJ with two incomes always skews our withholding. Just filed yesterday and some of the highlights: -Total taxes owed decre...
by Frank Grimes
Fri Mar 01, 2019 2:52 pm
Forum: Personal Consumer Issues
Topic: How do YOU make coffee?
Replies: 201
Views: 9376

Re: How do YOU make coffee?

Cuisinart drip coffee maker with a wire mesh cone basket. Baratza Encore burr grinder. Store brand whole beans, one heaping scoop per cup brewed. Grind them fresh every morning and start brewing immediately after grinding. I recently got that Baratza Encore grinder (per recommendations on here). It ...
by Frank Grimes
Thu Feb 14, 2019 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge Tax Delay - 1099's Delayed two weeks
Replies: 17
Views: 985

Re: Merrill Edge Tax Delay - 1099's Delayed two weeks

For what it's worth I just called Merrill Edge, and before you can even make a selection there is an automated message: "If you're calling about your 1099's please note according to IRS guidelines they will be mailed and available for download by or before Feb. 26th, no further action is needed at ...
by Frank Grimes
Thu Feb 14, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Merrill Edge Tax Delay - 1099's Delayed two weeks
Replies: 17
Views: 985

Re: Merrill Edge Tax Delay - 1099's Delayed two weeks

Is this for a regular brokerage account? I see that same notification on my overall summary view, but under Tax Documents I got my "tax reporting statement" with 1099s for dividends, sales proceeds etc. a couple weeks ago.
by Frank Grimes
Wed Feb 13, 2019 10:00 am
Forum: Personal Investments
Topic: Will this cause an audit ?
Replies: 28
Views: 3301

Re: Will this cause an audit ?

I feel like if my return was audited, I could walk them through my entire turbo tax file along with all the supporting docs in like 30 minutes. But I've never been audited before so maybe my impression is wrong. Maybe they wouldn't like that deduction I took for donating some clothes where I didn't ...
by Frank Grimes
Wed Jan 30, 2019 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire by 40 and How you Did it?
Replies: 205
Views: 32753

Re: Millionaire by 40 and How you Did it?

--Started professional careers after school with good earnings tracks. Minimal/no student debt (thanks to families) --Saved consistently in IRAs for a while and 401ks since the beginning, which happened to coincide with a down market in the great recession of 2008. Market has been largely sunshine s...
by Frank Grimes
Tue Jan 29, 2019 2:28 pm
Forum: Investing - Theory, News & General
Topic: WSJ Letter on Indexing and Bogleheads
Replies: 46
Views: 4843

Re: WSJ Letter on Indexing and Bogleheads

For those without access to the WSJ : Burton Malkiel details some of “The Secrets of Jack Bogle’s Investment Success” (op-ed, Jan. 18). There are others. Funds like Vanguard’s flagship S&P 500 index fund don’t research their investments. It doesn’t evaluate a company’s balance sheet, the developmen...
by Frank Grimes
Mon Jan 28, 2019 12:15 pm
Forum: Personal Investments
Topic: High Earners Mostly Use Taxable Accounts?
Replies: 167
Views: 14053

Re: High Earners Mostly Use Taxable Accounts?

Neither of our workplaces allow mega-backdoor so once we get through bonus season (when we fully fund Roth backdoors and contribute to two 529s), the rest of our possible tax advantaged savings are on autopilot through payroll deductions (401k and HSA). So any excess left in the checking account on ...
by Frank Grimes
Tue Jan 22, 2019 6:08 pm
Forum: Personal Consumer Issues
Topic: Grocery shopping strategy
Replies: 146
Views: 9810

Re: Grocery shopping strategy

We have a family of 4 (two young kids). I meal prep 2-3 meals per week that will feed us for 5 or 6 nights. I shop at Harris Teeter once a week. Only that store because I know where everything is so it goes fast. No coupon clipping or price arbitrage between competing stores. --Once I decide on the ...
by Frank Grimes
Tue Jan 22, 2019 4:51 pm
Forum: Personal Consumer Issues
Topic: Do you carry gas cans, mowers, string trimmers, etc in your car or SUV?
Replies: 48
Views: 3276

Re: Do you carry gas cans, mowers, string trimmers, etc in your car or SUV?

Same, when getting gas for my mower I put the red plastic gas can on the floor of my car and drive carefully so hopefully it doesn't tip or anything. And wipe off any drips after filling. I've transported a mower in my car one time, when moving across town and taking the mower to my old house to fre...
by Frank Grimes
Tue Jan 22, 2019 4:46 pm
Forum: Personal Investments
Topic: Retirement Portfolio Help - Younger Investor
Replies: 3
Views: 319

Re: Retirement Portfolio Help - Younger Investor

It may take a little extra effort to make sure you're close to the allocation targets you've set while solely using target date funds in your 401k and HSA. Right now those 2050 funds are probably almost 100% stock. Look into those in your 401k and HSA investment materials to see what their current a...
by Frank Grimes
Mon Jan 07, 2019 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Child # 3 - seeking advice from older members
Replies: 89
Views: 7760

Re: Child # 3 - seeking advise from older members

Similar situation, we are early/mid 30s and have an almost 2/almost 4 pair of knuckleheads and we're so close to regaining some of that freedom that's been gone for so long. We always assumed we'd go for 3 since we both came from 3 kid families but having gone from 1 to 2, I know that going from 2 t...
by Frank Grimes
Mon Jan 07, 2019 10:15 am
Forum: Personal Investments
Topic: Fiancée Thinks I'm Putting Too Much Towards Retirement/ Not Enough Towards Short-Term Goals
Replies: 136
Views: 10994

Re: Fiance Thinks I'm Putting Too Much Towards Retirement/ Not Enough Towards Short-Term Goals

You could do an 80-10-10 mortgage (with 10% down and 10% HELOC) instead of 80-20 and then pay off the HELOC quickly. Probably better to boost your savings by reducing spending rather than pulling out of your tax advantaged accts.

Spend less on a wedding. That's a ton of money, come on.
by Frank Grimes
Wed Jan 02, 2019 11:22 am
Forum: Personal Consumer Issues
Topic: Your ideal home size
Replies: 130
Views: 8818

Re: Your ideal home size

Currently in a standard 4 bed, 2.5 bath ~2700 sq ft family house for my family of 4. It also has a partially finished basement with an office, rec room and another bathroom bringing the total to about ~3400 although the heat and AC doesn't really do much for this space so we don't spend much time th...
by Frank Grimes
Thu Dec 20, 2018 9:49 am
Forum: Personal Investments
Topic: Will you contribute all $6,000 to IRA in Jan or DCA?
Replies: 32
Views: 2087

Re: Will you contribute all $6,000 to IRA in Jan or DCA?

Once bonuses come in we'll both backdoor and invest it all at once.
by Frank Grimes
Mon Oct 29, 2018 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 396
Views: 38746

Re: Steak Dinner and Annuities: Retirement Product Surges After Fiduciary Rule’s Demise

How does one get invited to these free dinners? Maybe I am too young and poor. Have the same name as your retired dad. I get these a lot, along with the occasional AARP mailing. Somewhere along the line, someone's mailing list got messed up and whoever keeps buying these lists think they're reachin...
by Frank Grimes
Fri Oct 26, 2018 2:16 pm
Forum: Personal Consumer Issues
Topic: Coffee grinder
Replies: 56
Views: 4402

Re: Coffee grinder

I'm considering getting one of the burr grinders on here to replace my current blade grinder, probably the Baratza Encore. Semi-related question - what do you coffee experts use, paper filters or the reusable mesh filters? I currently use a mesh filter with my drip coffee maker. I get that the mesh ...