Search found 371 matches

by sailaway
Sat Oct 20, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 89
Views: 9181

Re: What do you consider 'enough'?

This 1/3, 1/3, 1/3 rule is really cool, but I live in California and am relatively well compensated. I only pay 20% in taxes. Perhaps I need to find a way to raise my taxes in order to comfortably retire. We pay more in taxes than we spend, but are somewhere between thirds and 1/2, 1/4, 1/4. Anythi...
by sailaway
Sat Oct 20, 2018 11:14 am
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

I think the beach / ocean would be the main reason I would move. So, another question I have for the locals is how often do you get to the beach (and how far from it do you live)? Does high tide go up to the cliffs for a lot of the beaches? How many months can you swim comfortably in the ocean with...
by sailaway
Sat Oct 20, 2018 9:31 am
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

I think the beach / ocean would be the main reason I would move. So, another question I have for the locals is how often do you get to the beach (and how far from it do you live)? Does high tide go up to the cliffs for a lot of the beaches? How many months can you swim comfortably in the ocean with...
by sailaway
Fri Oct 19, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Health Care Options for 26 year old
Replies: 36
Views: 1592

Re: Health Care Options for 26 year old

Has your friend looked into student insurance through the school?
by sailaway
Thu Oct 18, 2018 2:45 am
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

Anyone have any links for the OP (or me :happy ) of a home for sale under a million? Ideally in a place with good schools, bike friendly town. I saw this one - https://www.realtor.com/realestateandhomes-detail/7925-Caminito-del-Cid_La-Jolla_CA_92037_M18000-56565?view=qv There is a $740 hoa fee so y...
by sailaway
Wed Oct 17, 2018 8:59 pm
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

Anyone have any links for the OP (or me :happy ) of a home for sale under a million? Ideally in a place with good schools, bike friendly town. I saw this one - https://www.realtor.com/realestateandhomes-detail/7925-Caminito-del-Cid_La-Jolla_CA_92037_M18000-56565?view=qv There is a $740 hoa fee so y...
by sailaway
Wed Oct 17, 2018 8:10 pm
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

It is affordable on $195k a year, but let's not get carried away that they will be living "very,very well". I don't live in SD now, but I know it at least as well as you do, and that gets you a pretty average lifestyle. I bet if we sat down and compared our criteria, your definition of average and ...
by sailaway
Wed Oct 17, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Backdoor Roth Mechanics
Replies: 23
Views: 2752

Re: Mega Backdoor Roth Mechanics

I have been researching this. According to my company (Vanguard Plan), I can only tx after tax funds out of my 401k once per year. So, if I fund it all year, it is going to make money, then I owe taxes on those earnings if I want to tx the whole "after tax" contribution amount into a Roth. So reall...
by sailaway
Wed Oct 17, 2018 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 89
Views: 9181

Re: What do you consider 'enough'?

Does anyone out there in their working years have a way of figuring out what is 'enough' in terms of income to support their current lifestyle and to also save for the future? I know it's different for everyone but I'd be curious to hear your thoughts on if and how you calculate how much is 'enough...
by sailaway
Wed Oct 17, 2018 6:10 pm
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

We are in the suburbs of Philadelphia, and annual combined income of 195k. Our family lives in La Jolla and we surely would be looking at towards north country, SD. La Jolla is too expensive, we are seriously thinking about it but the plan is to move in a year or so if we do. Trying to see if we ca...
by sailaway
Wed Oct 17, 2018 11:05 am
Forum: Investing - Help with Personal Investments
Topic: Multiple Backdoor Roth Conversions each year for same tax year
Replies: 8
Views: 330

Re: Multiple Backdoor Roth Conversions each year for same tax year

Hi - My AGI is higher than allowed for regular Roth contributions so i utilize the backdoor conversion method for my non-working spouse (wife) and me. However, I don't have the $5,500 for each of us readily available right now to fully invest for contribution year 2018. Am i allowed to contribute s...
by sailaway
Wed Oct 17, 2018 9:55 am
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

lhl12 wrote:
Wed Oct 17, 2018 9:47 am
Ignoring all other differences, is the weather in San Diego meaningfully different from the weather in Los Angeles?
Slightly milder, slightly less prone to Santa Ana winds. Meaningfully?... probably not.
by sailaway
Wed Oct 17, 2018 9:39 am
Forum: Personal Finance (Not Investing)
Topic: The Next Millionaire Next Door: Enduring Strategies for Building Wealth Hardcover will be released October 1, 2018
Replies: 68
Views: 13167

Re: The Next Millionaire Next Door: Enduring Strategies for Building Wealth Hardcover will be released October 1, 2018

I’m a millionaire (very much “next door,” or even “down in the alley,” I buy the $0.88 loaves of bread and all that) and I can tell you there’s nothing to “becoming a millionaire” and it’s overrrated. Who cares? Life was better when we had nothing. Smectym Remember, anything over 70k saw no differe...
by sailaway
Wed Oct 17, 2018 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Exceeding Income Limit for Roth IRA Mid-Year?
Replies: 10
Views: 757

Re: Exceeding Income Limit for Roth IRA Mid-Year?

Hello, My wife recently received a significant pay increase; prior to this we were within the income limits to contribute to a Roth IRA, but were very close ($175,000 MAGI). With this pay increase we'll surely finish out the year over the income limit. I've stopped my contributions but have to assu...
by sailaway
Wed Oct 17, 2018 12:35 am
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

We are in the suburbs of Philadelphia, and annual combined income of 195k. Our family lives in La Jolla and we surely would be looking at towards north country, SD. La Jolla is too expensive, we are seriously thinking about it but the plan is to move in a year or so if we do. Trying to see if we ca...
by sailaway
Tue Oct 16, 2018 8:44 pm
Forum: Personal Consumer Issues
Topic: Should we move to San Diego from east coast?
Replies: 127
Views: 9326

Re: Should we move to San Diego from east coast?

Those are some good points, looks like securing a job is the first step, based on the job location get a home closer so that the commute is not too long. The traffic situation sounds like it’s horrible during rush hours. We would be visiting family frequently so closer we are better. I will do some...
by sailaway
Tue Oct 16, 2018 8:41 pm
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 89
Views: 9181

Re: What do you consider 'enough'?

Enough is usually something like 1M more than I have right now, or maybe 50-100% more than I have.... something along those lines. What is enough to me today is not the same thing that I would have said when I was 10-15 years younger. As time moves along and your situation changes, this target cont...
by sailaway
Tue Oct 16, 2018 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 89
Views: 9181

Re: What do you consider 'enough'?

Edit: misread the question. "Enough" is personal. I would suggest being careful not increase lifestyle creep too much. When you get a raise, save 50% of it, and spend the other 50%. If you get a $5,000 raise, increase your spending $200 a month (Hey that's a lot of fun money), and increase your sav...
by sailaway
Tue Oct 16, 2018 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: What do you consider 'enough'?
Replies: 89
Views: 9181

Re: What do you consider 'enough'?

Enough is determined by your own lifestyle and long term goals.

One way to find your minimum is to slash spending and see if you adjust within a preset time period.
by sailaway
Tue Oct 16, 2018 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Vanguard not allowing reversals of Roth IRA recharacterizations
Replies: 10
Views: 791

Re: Vanguard not allowing reversals of Roth IRA recharacterizations

Anyone else get the email from Vanguard? You can still covert a retirement account, including traditional IRA, into a Roth IRA, but you can no longer reverse it. They are just reminding you about the changes to the federal tax code. This was one of the aspects of the recent tax changes that did get...
by sailaway
Mon Oct 15, 2018 8:42 pm
Forum: Investing - Help with Personal Investments
Topic: Moving to company that allows Mega Backdoor Roth Conversion - Any prep needed?
Replies: 21
Views: 1422

Re: Moving to company that allows Mega Backdoor Roth Conversion - Any prep needed?

Lucky! My employer only offers a traditional, or Roth option - but no after tax bucket. To make up for it - I convert some of my Rollover IRA to a Roth IRA. I figure it's the same income tax (no difference if it was earned this year (after tax bucket) or in a previous year (rollover partial convers...
by sailaway
Mon Oct 15, 2018 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Kids not interested in money / allowance
Replies: 50
Views: 4794

Re: Kids not interested in money / allowance

If they don't ask for it, put it in a savings account.
by sailaway
Sun Oct 14, 2018 9:34 am
Forum: Investing - Theory, News & General
Topic: ESPP - Would you participate and what's your strategy
Replies: 28
Views: 3020

Re: ESPP - Would you participate and what's your strategy

watchnerd wrote:
Sat Sep 15, 2018 10:36 am
TheHouse7 wrote:
Wed Dec 13, 2017 8:24 pm
Yes, buy 6k per year max, sell everything every 3 months.
Why sell so quick and get hit with short term capital gains tax?
By selling quickly, you avoid any capital gains tax at all. The discount is taxed as regular income.
by sailaway
Thu Oct 11, 2018 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 72
Views: 6564

Re: Just Divorced -- Need Help

My credit went from near perfect to mid 600s due to my divorce. I was awarded all of my ex-wife's credit card debt she racked up while we were separated. What is the best all around credit card I can transfer the balances to as I work to repair my credit? In a perfect world, I'd prefer the card hav...
by sailaway
Thu Oct 11, 2018 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: Copy/paste from sister's Living Trust?
Replies: 18
Views: 1491

Re: Copy/paste from sister's Living Trust?

Do you and your sister live in the same state?
by sailaway
Thu Oct 11, 2018 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: After-tax 401(k) Contributions and W2
Replies: 4
Views: 240

Re: After-tax 401(k) Contributions and W2

For most people, the best place to find this information is in their pay stub, which usually has more information than a W-2.
by sailaway
Mon Oct 08, 2018 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Raiding 401k/IRA - How much is peace of mind worth?
Replies: 13
Views: 1108

Re: Raiding 401k/IRA - How much is peace of mind worth?

In addition to the concerns of these have stated, I will add that your investment plan seems way to vague. You dug yourself into a hole and you claim that your high income just doesn't cover expenses. I think you are more likely to be successful if you make a plan and stick to it. Build up a small e...
by sailaway
Sun Oct 07, 2018 11:45 am
Forum: Investing - Help with Personal Investments
Topic: Best Method To Take Income In Retirement
Replies: 5
Views: 1034

Re: Best Method To Take Income In Retirement

<t>My father always told me "spend income, never capital". However, reading current advice on how to take income in retirement, most advisors state one should utilize after-tax funds before using pre-tax 401k or IRA funds. Does this mean one should use up both income and capital in an after-tax acc...
by sailaway
Fri Oct 05, 2018 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: 20 countries where 200K in retirement savings will last you decades
Replies: 75
Views: 8944

Re: 20 countries where 200K in retirement savings will last you decades

Some viable options in that slide deck. I’m not a big fan of slide articles so I only went to number 6, but the only location in 1-6 I haven’t been is Nicaragua. If push came to shove I could see pulling off something like this. Food for thought - I don’t think the majority of US citizens aged 60 o...
by sailaway
Thu Oct 04, 2018 4:52 pm
Forum: Personal Consumer Issues
Topic: Vacation without saving adequately?
Replies: 70
Views: 5135

Re: Vacation without saving adequately?

If you were asking 'shall I buy this new boat without saving adequately', then the answer would be 'no', but even a nice vacation isn't going to be crazy amounts of money. Just keep an eye on the expenditure while you're there. I say just do it. That is silly. A brand new jon boat can be had for <$...
by sailaway
Thu Oct 04, 2018 10:13 am
Forum: Investing - Help with Personal Investments
Topic: Fungible taxable savings=what to do with Asset Allocation
Replies: 16
Views: 611

Re: Fungible taxable savings=what to do with Asset Allocation

livesoft wrote:
Thu Oct 04, 2018 9:03 am
My thoughts are put it all in equities in taxable. Put the bonds in the tax-deferred.

I do exactly that.
You don't keep any cash?
by sailaway
Thu Oct 04, 2018 9:56 am
Forum: Investing - Help with Personal Investments
Topic: Help with investment strategy for FIRE
Replies: 7
Views: 885

Re: Help with investment strategy for FIRE

Your 401k pretax + after tax + match is well short of $55k. Perhaps you are maxing out allowable % caps per paycheck? If that is the case, investigate if you can contribute with your bonus. My husband's employer allows up to 50% of the cash bonus to go to 401k. I don't understand your logic here --...
by sailaway
Wed Oct 03, 2018 4:23 pm
Forum: Personal Consumer Issues
Topic: Remember traveler's checks? How to cash a forgotten stash
Replies: 29
Views: 3428

Re: Remember traveler's checks? How to cash a forgotten stash

Have you checked into mobile deposit through your own bank?
by sailaway
Wed Oct 03, 2018 11:27 am
Forum: Investing - Help with Personal Investments
Topic: Help with investment strategy for FIRE
Replies: 7
Views: 885

Re: Help with investment strategy for FIRE

Your 401k pretax + after tax + match is well short of $55k. Perhaps you are maxing out allowable % caps per paycheck? If that is the case, investigate if you can contribute with your bonus. My husband's employer allows up to 50% of the cash bonus to go to 401k. We use our annual contributions to bal...
by sailaway
Wed Oct 03, 2018 11:00 am
Forum: Personal Consumer Issues
Topic: Thinking of moving to Texas, Iowa, Idaho, or North Carolina
Replies: 209
Views: 14299

Re: Thinking of moving to Texas, Iowa, Idaho, or North Carolina

Why not apply for jobs in each state and make your decision once you are comparing job offers, as well as locations? For the new Austin transplant, not sure how you are missing out on the hole in the wall places, they are definitely there! But having moved the opposite direction, SD wins on weather,...
by sailaway
Tue Oct 02, 2018 4:31 pm
Forum: Personal Consumer Issues
Topic: Best neighborhoods in Atlanta
Replies: 40
Views: 2569

Re: Best neighborhoods in Atlanta

Drive 100 miles from downtown in any direction and start looking there. I can't even stand driving through Atlanta. ive lived in atlanta and currently live in not-atlanta, georgia. ive been surprised at how much everyone from not-atlanta HATES atlanta. are other states this way? it is astounding to...
by sailaway
Tue Oct 02, 2018 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: Trying to retire early, what should I do?
Replies: 19
Views: 1472

Re: Trying to retire early, what should I do?

Why HSA? Doesn't it only cover medical expenses and not roll over between years and can't be invested? HSA is the best tax treatment you can find. Tax-free contributions, earnings, and withdrawals, if you meet the criteria. Read the Wiki here: https://www.bogleheads.org/wiki/Health_savings_account ...
by sailaway
Tue Oct 02, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Adult kids getting help from parents
Replies: 36
Views: 2208

Re: Adult kids getting help from parents

How many people here, between the ages of 25-45, get help from their parents? When I say help, any monetary provisions that exceed $500 a year. This can include educational expenses for your children, or even paying off your college loans. I personally don't believe what society tells me, but I was...
by sailaway
Tue Oct 02, 2018 12:51 pm
Forum: Investing - Help with Personal Investments
Topic: Variable / Commission based income and Roth IRA
Replies: 8
Views: 312

Re: Variable / Commission based income and Roth IRA

I just wait until I do my taxes every year.

I have a middling sum sitting in my tIRA from rollovers, though, so a later conversion is not ideal for me.
by sailaway
Mon Oct 01, 2018 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Suze Orman - "I hate the FIRE movement."
Replies: 75
Views: 9118

Re: Suze Orman - "I hate the FIRE movement."

If things are that bleak, I will have more skills in place than my peers who have been paying to have everything done. If things are that bleak, I will be starting from zero (because the stock market collapsed if unemployment is 15%), not starting out in the hole with a bunch of debt and too much ho...
by sailaway
Mon Oct 01, 2018 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Help me manage my day to day bills to save more!!
Replies: 45
Views: 3510

Re: Help me manage my day to day bills to save more!!

Has the pool been decommissioned for the winter? Can you refi student loans? Find cheaper cell phone plans (we use Mint and are paying less than half what you are for two phones). Only have one subscription service at a time. Have you done an energy audit? Maybe our gas is cheap, but $100 a month se...
by sailaway
Sat Sep 29, 2018 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: 0% loan to family member
Replies: 44
Views: 2634

Re: 0% loan to family member

JackoC wrote:
Sat Sep 29, 2018 2:50 pm
Besides any tax issue, it's favoritism IMO to lend to one kid at 0% even with future subtraction of any unpaid portion of the debt from inheritance.
Sometimes it is favoritism, sometimes it is an attempt to assauge guilt at not raising that one properly, like the rest of them.
by sailaway
Sat Sep 29, 2018 1:12 pm
Forum: Personal Finance (Not Investing)
Topic: 0% loan to family member
Replies: 44
Views: 2634

Re: 0% loan to family member

Thanks for all the advice. It seems to coincide with my initial thought of saying nothing. I'm still not happy about it, but I don't need to be. That amount of money would probably put me over the cusp of retiring (I am on the fence now thinking I need to work another year or two). So that adds to ...
by sailaway
Sat Sep 29, 2018 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: 0% loan to family member
Replies: 44
Views: 2634

Re: 0% loan to family member

My parents have given similar, albeit smaller, loans to both of my siblings. The deal is that if they have an outstanding balance when our parents die, that amount gets deducted from their share of the estate and given to the remaining siblings. If it is just about finances, rather than relationship...
by sailaway
Fri Sep 28, 2018 7:33 pm
Forum: Investing - Theory, News & General
Topic: Income Limits on IRA, 401k, and HSA Max Out?
Replies: 11
Views: 1407

Re: Income Limits on IRA, 401k, and HSA Max Out?

The 401k limits are not hard limits, but mean that the plan is subject to testing. In other words, the limit depends on the details of your plan. Your HR department or plan administrator should know. Additionally, your employer may have percentage restrictions that mean you cannot start making until...
by sailaway
Fri Sep 28, 2018 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 630
Views: 76933

Re: How much money do you want to retire?

The only purpose I see for money is to buy time for me to maximize my life, and maximizing life for me means following a variety of interests. Money are not a purpose, just a mean. Agreed. But some people really love their jobs. Probably could not live with out their job. Different strikes for diff...
by sailaway
Fri Sep 28, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: SSI Benefit Rent vs Room and Board?
Replies: 9
Views: 638

Re: SSI Benefit Rent vs Room and Board?

The SSI Spotlight page just says that you must pay your own food and shelter costs. So, housing divided by the number of people and their share of the grocery bill seems reasonable. I do not believe that the IRS expects you to claim immediate family members contributing to housing costs unless you a...
by sailaway
Fri Sep 28, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 630
Views: 76933

Re: How much money do you want to retire?

But in general my feeling is that people will decide how much they need to reach the above goals, and then retire when those goals are achievable without earning money (putting aside issues of health or disability that force early retirement). It's not just health or disability. A layoff or some ot...
by sailaway
Fri Sep 28, 2018 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: New Relationship - Best way to handle finances?
Replies: 92
Views: 6723

Re: New Relationship - Best way to handle finances?

She seems to expect me to pay for everything and things are adding up quickly. Is it fair to split expenses at this stage in our relationship? Absolutely! Times have changed. My daughters are both in their early twenties. They tell me that on a first date they offer to split but oftentimes the male...