Search found 327 matches

by FoolMeOnce
Thu Nov 15, 2018 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: As a new grad, should I consider buying or renting?
Replies: 47
Views: 1691

Re: As a new grad, should I consider buying or renting?

It's in Johnson County, KS. $72k plus 10 starting eh? Looks like I'm severely underpaid at this point. Anyway, I was considering the same thing this summer and decided it's absolutely not worth plowing equity into a seventy year old ranch in JoCo. You're right though, you can get really nice 1 BR's...
by FoolMeOnce
Wed Nov 14, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 157
Views: 13084

Re: Considering Quitting Job - Seeking Advice. Would you do it?

RW73 wrote:
Sat Sep 22, 2018 3:18 pm
I look forward to posting updates later this year....
Hey, OP, how's it going?
by FoolMeOnce
Wed Nov 14, 2018 11:58 am
Forum: Personal Finance (Not Investing)
Topic: Parents as trustees for child beneficiary of irrevocable trust.
Replies: 3
Views: 396

Re: Parents as trustees for child beneficiary of irrevocable trust.

Thanks for the response. The grandparents' goal is to gift over the years, not have grandkids get access at 18, afford protection from creditors (main concerns are probably car accidents and failed early marriages), but let grandkids have control/ownership as adults. Does giving beneficiaries contro...
by FoolMeOnce
Tue Nov 13, 2018 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Parents as trustees for child beneficiary of irrevocable trust.
Replies: 3
Views: 396

Parents as trustees for child beneficiary of irrevocable trust.

I have two related but distinct questions about an irrevocable Crummey trust with a minor beneficiary, where funds are gifted to the trust by the minor's grandparents. In addition to the Crummey -type distributions, the trust allows for discretionary distributions for the beneficiary's support and m...
by FoolMeOnce
Mon Nov 12, 2018 11:33 pm
Forum: Personal Consumer Issues
Topic: Granddaughter needs $ help for university
Replies: 97
Views: 7055

Re: Granddaughter needs $ help for university

A lot of people seem to be making recommendations based on the retail price of the school. The retail price is irrelevant; the cost to the granddaughter is $15k/year, which is not an outrageous number.
by FoolMeOnce
Thu Nov 08, 2018 11:39 am
Forum: Investing - Help with Personal Investments
Topic: Go it alone or stay with wealth management?
Replies: 10
Views: 1286

Re: Go it alone or stay with wealth management?

We have roughly $3.5m invested assets and left our advisor a little over a year ago to avoid the 0.75% AUM fee and some large expense ratios. Trying to whittle down our numerous holdings to a three fund portfolio, though we probably won't get all the way there due to capital gains. Read about asset ...
by FoolMeOnce
Wed Nov 07, 2018 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: How much money did you receive from family? (Gifts/inheritance)
Replies: 46
Views: 4381

Re: How much money did you receive from family? (Gifts/inheritance)

When I was a child, my family made a real estate investment that was mostly in the kids' names. That turned into about $500k for me by the time I was in my mid-20s when we sold it. Grandparents and parents gifted during my childhood in trust. Those investments, plus a large infusion from a one-off e...
by FoolMeOnce
Tue Nov 06, 2018 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14540

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

All of the assertions about "I'm going to die broke" are kind of absurd. If you are a boglehead, your plan should include longevity insurance which means that unless you receive an unexpected terminal diagnosis, you are unlikely to spend it all. It is sad that we can't have a serious conversation w...
by FoolMeOnce
Tue Nov 06, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14540

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

Plan A has always been to spend every dollar and bounce the check that goes to the undertaker. Why should you stiff the undertaker?! I know the general sentiment around these quips is to perfectly use up all one's assets, but that it gets phrased (not just by you) as bouncing your last check strike...
by FoolMeOnce
Tue Nov 06, 2018 12:01 pm
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7345

Re: Do people calculate savings rate on gross income?

KlangFool wrote:
Tue Nov 06, 2018 10:18 am
The future may not arrive until the person survives the present.
Good point.
by FoolMeOnce
Tue Nov 06, 2018 11:59 am
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7954

Re: Teaching kids there is an ample amount of money

I recently gave her a seven figure gift for a house down payment. Million dollars or more for a mere down payment on a house? What is the cost of the house? I am folding my cards; this bragging game is getting too rich for my blood. Yes me too- this is getting to be a bit too rich for my blood as w...
by FoolMeOnce
Tue Nov 06, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7954

Re: Teaching kids there is an ample amount of money

I recently gave her a seven figure gift for a house down payment. Million dollars or more for a mere down payment on a house? What is the cost of the house? I am folding my cards; this bragging game is getting too rich for my blood. Yes me too- this is getting to be a bit too rich for my blood as w...
by FoolMeOnce
Tue Nov 06, 2018 9:47 am
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7345

Re: Do people calculate savings rate on gross income?

To repeat something I said earlier, everyone's calculation will be a bit different, what is important is to pick a target that will allow you to reach your goals, however it is calculated. Picking one based on expenses is certainly sensible. But it it isn't all that different than a percent of incom...
by FoolMeOnce
Mon Nov 05, 2018 4:24 pm
Forum: Personal Consumer Issues
Topic: Buying a mini-van
Replies: 25
Views: 1797

Re: Buying a mini-van

There are many good reasons to buy a minivan. A screen for cartoons is not one of them.
by FoolMeOnce
Mon Nov 05, 2018 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Are we in trouble?
Replies: 106
Views: 12669

Re: Are we in trouble?

I don't know Texas, but that sounds like a whole lotta house for Texas. Regardless, if your incomes are stable, it looks like you'll be fine. What will your house payments be, around $5k/ month? You should still be able to save plenty with your currently incomes. And enough that you won't miss the c...
by FoolMeOnce
Mon Nov 05, 2018 2:09 pm
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7345

Re: Do people calculate savings rate on gross income?

I calculate my saving rate based on my current annual expense. I save 100% of my annual expense every year. It makes zero sense to calculate the saving rate based on income. Isn't this the exact same thing as saying that you're saving 50% of net income? No. It is hard to calculate net income. And, ...
by FoolMeOnce
Mon Nov 05, 2018 1:14 pm
Forum: Investing - Theory, News & General
Topic: Do people calculate savings rate on gross income?
Replies: 118
Views: 7345

Re: Do people calculate savings rate on gross income?

Since I will need to spend dollars in retirement, not percents, I calculate my savings in dollars, not percents. Percentages can help planning, because a savings rate implies a spending rate. The chart here may be overly simplistic, but it is a good start: http://www.mrmoneymustache.com/2012/01/13/...
by FoolMeOnce
Fri Nov 02, 2018 10:34 pm
Forum: Investing - Theory, News & General
Topic: no dividends in index funds!
Replies: 95
Views: 9273

Re: no dividends in index funds!

Who would invest in the stock market if there were no dividends and the only way to get your money back was to find someone else to buy your stock shares or have the companies go out of business and liquidate their equipment and real estate? I would guess a good 90% of the thousands of members of t...
by FoolMeOnce
Fri Nov 02, 2018 10:29 pm
Forum: Investing - Help with Personal Investments
Topic: Where should I be financially at 39?
Replies: 42
Views: 5888

Re: Where should I be financially at 39?

Does anyone know how much I'd need to invest right now to be caught up to where I'd be if I'd begun investing when I was 25 years old, like so many people are doing? If the bolded part is contributing to your angst, let that go, most people are not saving and investing at age 25. (Notwithstanding t...
by FoolMeOnce
Fri Nov 02, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: 45% increase in marketplace insurance
Replies: 72
Views: 4135

Re: 45% increase in marketplace insurance

Not a lot of people in this forum have gone through this, as you can see. They don't understand. My family would be without insurance if we didn't live in Tennessee, which permits an exception the national mandate. In fact we were without insurance for a time because of the law and what it did to i...
by FoolMeOnce
Fri Nov 02, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: 45% increase in marketplace insurance
Replies: 72
Views: 4135

Re: 45% increase in marketplace insurance

As a total insurance expense, do such self employed persons pay more (in total) than what is paid (in total) by and for those receiving employer insurance? After all, self employed person is BOTH employer and employee in such cases. LOL at whomever upthread said $35k a year in premiums and deductib...
by FoolMeOnce
Fri Nov 02, 2018 7:20 am
Forum: Investing - Help with Personal Investments
Topic: Panic set in... now what?
Replies: 63
Views: 10916

Re: Panic set in... now what?

As everyone note above, pick a more comfortable allocation. Then get to it now, don't wait for a bear. How will you know when to pull the trigger? You definitely won't be able to predict the bottom. And even if you accurately recognize a bear and get in somewhere near the bottom, it might yet be at ...
by FoolMeOnce
Thu Nov 01, 2018 2:00 pm
Forum: Investing - Theory, News & General
Topic: Is market cap weighting a dumb idea?
Replies: 64
Views: 2987

Re: Is market cap weighting a dumb idea?

That chart is such a small sample, 10 companies over 46 years. And it looks like AT&T, GE, Microsoft, Apple, and maybe Exxon outperformed the SP500 for significant portions of that time. Most of the total underperformance appears attributed to IBM and Exxon's first run at the top. How can you draw a...
by FoolMeOnce
Wed Oct 31, 2018 2:54 pm
Forum: Investing - Help with Personal Investments
Topic: Just starting out at 39 yrs old.
Replies: 37
Views: 5311

Re: Just starting out at 39 yrs old.

One question you asked that I don't see addressed in the responses above: Fidelity is fine. The most common recommendations here seem to be Vanguard, Fidelity, and Schwab. I am at TD Ameritrade. Your question implies some negative cost, suggesting your are confusing a brokerage account with advisor ...
by FoolMeOnce
Wed Oct 31, 2018 6:40 am
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth - did I mess this up?
Replies: 17
Views: 846

Re: Backdoor Roth - did I mess this up?

Wow I can't believe I missed that... :oops: :oops: :oops: I read up on White Coat Investors site on backdoor roth and it seems to me I have really 2 options to avoid a very substantial tax liability To be clear, you will only owe taxes on a portion of the amount you moved into your Roth, which I pr...
by FoolMeOnce
Mon Oct 29, 2018 8:28 am
Forum: Investing - Help with Personal Investments
Topic: Unique TLH question... maybe
Replies: 11
Views: 1015

Re: Unique TLH question... maybe

I think your plan is good. It is exactly what I am doing to simplify a messy advisor-created taxable account. Yes, as JW pointed out, the tax savings can be greater when you apply capital losses to earned income, but if simplification of your holdings is worth a bit of a reduced tax benefit, go for ...
by FoolMeOnce
Sun Oct 28, 2018 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Am I doing well financially?
Replies: 162
Views: 12631

Re: Am I doing well financially?

justsomeguy2018, 1) You spend first and save later. You should do the reverse. Save first and spend later. Max up your 401K and Roth IRAs with automatic paycheck deduction. When you have less money, you will spend less. 2) Almost all of your major expenses are discretionary. When you have the money...
by FoolMeOnce
Sat Oct 27, 2018 9:57 pm
Forum: Investing - Help with Personal Investments
Topic: Help! For a larger size taxable account do I pay an advisor?
Replies: 51
Views: 4048

Re: Help! For a larger size taxable account do I pay an advisor?

PatrickJoseph wrote:
Sat Oct 27, 2018 11:01 am
2) Is there a place to hold a may 10 -20% allocation in a few active managed mutual funds in 401K?
Only if you know which active funds will beat the market.

(You don't)
by FoolMeOnce
Fri Oct 26, 2018 7:43 pm
Forum: Investing - Help with Personal Investments
Topic: Help! For a larger size taxable account do I pay an advisor?
Replies: 51
Views: 4048

Re: Help! For a larger size taxable account do I pay an advisor?

OP, I have a larger taxable account and left an advisor a year ago because I found the 0.75% annual fee a waste of money after discovering this website and similar ones and reading a lot. Take a breath. "My stock choices have been really bad lately." Stop making stock choices. Use broad index funds ...
by FoolMeOnce
Fri Oct 26, 2018 7:37 pm
Forum: Investing - Help with Personal Investments
Topic: Help! For a larger size taxable account do I pay an advisor?
Replies: 51
Views: 4048

Re: Help! For a larger size taxable account do I pay an advisor?

... The OP has not lost any money. He’s sitting on unrealized losses, you only lose when you sell ... I'm sorry, Grt2bOutdoors, but that's a very damaging misconception. An unrealized loss is still a loss. Believing otherwise leads to poor financial decisionmaking, like holding on to an inappropria...
by FoolMeOnce
Wed Oct 24, 2018 3:31 pm
Forum: Investing - Help with Personal Investments
Topic: Why does TD list a wash sale adjustment?
Replies: 10
Views: 470

Re: Why does TD list a wash sale adjustment?

Was there a single sale involved in which all shares purchased within the wash sale period were sold simultaneously for exactly the same price? And did that transaction execute first, before the older shares were sold? If so, my understanding (or interpretation, really) of the wash sale rule is tha...
by FoolMeOnce
Wed Oct 24, 2018 3:12 pm
Forum: Investing - Help with Personal Investments
Topic: Why does TD list a wash sale adjustment?
Replies: 10
Views: 470

Re: Why does TD list a wash sale adjustment?

Was there a single sale involved in which all shares purchased within the wash sale period were sold simultaneously for exactly the same price? And did that transaction execute first, before the older shares were sold? If so, my understanding (or interpretation, really) of the wash sale rule is tha...
by FoolMeOnce
Wed Oct 24, 2018 2:50 pm
Forum: Investing - Help with Personal Investments
Topic: Why does TD list a wash sale adjustment?
Replies: 10
Views: 470

Re: Why does TD list a wash sale adjustment?

I think you did not successfully specify the exact lots to sell at TDAmeritrade. But no matter, sell them today since they surely have a loss and you are happy that you sold other shares before they went down today. Do you know how to exactly specify the lots that you are selling/sold at TDAmeritra...
by FoolMeOnce
Wed Oct 24, 2018 2:23 pm
Forum: Investing - Help with Personal Investments
Topic: Why does TD list a wash sale adjustment?
Replies: 10
Views: 470

Why does TD list a wash sale adjustment?

I thought I understood wash sales but probably just don't know enough to be confused, and now can't figure out why TD Ameritrade lists a wash sale adjustment for these circumstances. Any guidance is appreciated. 1) 9/27/18: Purchased VEU at 52.65 2) 10/2/18: Purchased more VEU 51.82 (div reinvestmen...
by FoolMeOnce
Tue Oct 23, 2018 8:13 pm
Forum: Investing - Theory, News & General
Topic: Hedging tomorrow's tax rates
Replies: 32
Views: 2638

Re: Hedging tomorrow's tax rates

When trying to analyze a question like this, I like to examine the margins. SUPPOSE you have the earnings to contribute to either a tax deferred plan or a ROTH, BUT you do not have the cash to do so. Suppose you borrow $10,000 at 4% interest. You can use the money for ROTH, tax deferred, or a taxab...
by FoolMeOnce
Tue Oct 23, 2018 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 101
Views: 5171

Re: 2019 Expenses > 2019 Income – Help us close the gap

Spend down from your 50k in cash over the next 2 years and then rebuild the balance if you so desire once your wife rejoins the workforce. It’s not even spending above your means, think of it as shifting a portion of your taxable assets to tax advantaged accounts (because that’s exactly what your d...
by FoolMeOnce
Mon Oct 22, 2018 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 101
Views: 5171

Re: 2019 Expenses > 2019 Income – Help us close the gap

You keep saying you would rather not to cut certain things. Of course you prefer to spend your current budget-that's why it is your budget. To reduce your budget by the amount you want requires giving up some preferred consumption.
by FoolMeOnce
Mon Oct 22, 2018 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 101
Views: 5171

Re: 2019 Expenses > 2019 Income – Help us close the gap

The restaurant expense seems fine (at least for a family that is not trying to cut $10k expenses...). The grocery/household bill, though, seems awfully high, even for a family that does not have a cash flow problem. I don't know what your diet is, but if applicable, consider replacing some meat with...
by FoolMeOnce
Sun Oct 21, 2018 10:04 am
Forum: Investing - Theory, News & General
Topic: Help me understand dividends
Replies: 146
Views: 13166

Re: Help me understand dividends

I fail to see how owning more shares doesn't equate to more potential for growth/loss. Perhaps because you are thinking about future gains in dollars per share rather than in percentages. The example quoted in the post you replied to shows this well: extra shares after receiving and reinvesting a d...
by FoolMeOnce
Sat Oct 20, 2018 11:02 pm
Forum: Investing - Theory, News & General
Topic: Help me understand dividends
Replies: 146
Views: 13166

Re: Help me understand dividends

I fail to see how owning more shares doesn't equate to more potential for growth/loss. Perhaps because you are thinking about future gains in dollars per share rather than in percentages. The example quoted in the post you replied to shows this well: extra shares after receiving and reinvesting a d...
by FoolMeOnce
Fri Oct 19, 2018 3:14 pm
Forum: Investing - Theory, News & General
Topic: How much of a dip do you want before you TLH?
Replies: 27
Views: 2124

Re: How much of a dip do you want before you TLH?

Lets say the stock market drops again this week and I TLH again. My porfolio gets even more complicated with another round of TLHing. You could consider just waiting 30 days after the first TLH and if the new fund is down then (or even slightly up), sell and buy back the original fund to maintain y...
by FoolMeOnce
Fri Oct 19, 2018 11:00 am
Forum: Investing - Theory, News & General
Topic: Thoughts on consumer staples funds?
Replies: 9
Views: 591

Re: Thoughts on consumer staples funds?

Since VDC began, it has moved up and down pretty much exactly when the total stock market, VTI, does. I don't know how to embed images, but you can see here:

https://www.portfoliovisualizer.com/fun ... F18%2F2018
by FoolMeOnce
Thu Oct 18, 2018 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice, 30 yr old couple
Replies: 21
Views: 1534

Re: Portfolio Advice, 30 yr old couple

It looks like there is confusion between his and hers. Hers: Traditional already opened and funded for this year, so you cannot open a new one and fund it with new money. It sounds like she doesn't have a Roth. Open one and move the money from the Traditional into the Roth via the backdoor method. ...
by FoolMeOnce
Thu Oct 18, 2018 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: Portfolio Advice, 30 yr old couple
Replies: 21
Views: 1534

Re: Portfolio Advice, 30 yr old couple

It looks like there is confusion between his and hers. Hers: Traditional already opened and funded for this year, so you cannot open a new one and fund it with new money. It sounds like she doesn't have a Roth. Open one and move the money from the Traditional into the Roth via the backdoor method. Y...
by FoolMeOnce
Wed Oct 17, 2018 4:55 pm
Forum: Personal Consumer Issues
Topic: Sister buying house FIL want to give money for downpayment
Replies: 10
Views: 1746

Re: Sister buying house FIL want to give money for downpayment

Why not just give them the money and have them pay it? No need to pay any taxes on the gift, just document it on whatever IRS form is required. Perhaps the FIL expects to pass on an estate over the estate tax limit, but that is quite a lot.
by FoolMeOnce
Mon Oct 15, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Kids not interested in money / allowance
Replies: 50
Views: 5056

Re: Kids not interested in money / allowance

I wouldn't worry that they don't want money yet. Though it suggests that you buy all their wants. Maybe it is just that they don't want manny material things, which is good. You could consider starting a spreadsheet to track their "bank" balance, deposit their periodic allowance, and build in some a...
by FoolMeOnce
Mon Oct 15, 2018 10:35 am
Forum: Investing - Theory, News & General
Topic: Better to invest in taxable and not deferred?
Replies: 31
Views: 3147

Re: Better to invest in taxable and not deferred?

Besides the lower long-term capital gain tax rates the OP mentioned, don't forget when you pass your taxable accounts to your heirs after you pass, they pay nothing on the gains because of the step-up. Pass your IRA accounts to your heirs and here come RMD and the tax man. On the verge of retirment...
by FoolMeOnce
Sat Oct 13, 2018 8:13 am
Forum: Investing - Help with Personal Investments
Topic: How to get over paper loss?
Replies: 43
Views: 3930

Re: How to get over paper loss?

If you are shifting from one security you want to get rid of to another security you want to own, it is better to do so when both have dropped. You'll end up with more by paying fewer or no capital gains tax and possibly having losses to offset other gains or income. So don't sweat it. Personally, I...
by FoolMeOnce
Fri Oct 12, 2018 8:32 pm
Forum: Investing - Theory, News & General
Topic: Unfortunate Near Real-Time Test of Sequence of Returns Risk v Probability of Retirement Success
Replies: 19
Views: 1802

Re: Unfortunate Near Real-Time Test of Sequence of Returns Risk v Probability of Retirement Success

Q: I waited 10 minutes for the barista to make my latte. There was a line, but it was short. Is that reasonable? A: Latte? You know that's mostly milk, right? I'd never order anything but drip. Maybe pour-over. A: You really shouldn't order coffee with your high blood pressure. (You have high blood ...
by FoolMeOnce
Fri Oct 12, 2018 2:58 pm
Forum: Personal Consumer Issues
Topic: Pacific Northwest trip
Replies: 39
Views: 3030

Re: Pacific Northwest trip

I moved to PacNW from the Midwest six years ago, and while I do have my reservations about continuing to live here I can say that I remain in awe of its beauty. OOC, what dont you like about the PNW? There are a number of things but I’m not sure it is a good idea to go into them here. I only have m...