Search found 1904 matches

by JBTX
Mon Jan 15, 2018 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Stats on When People Take Social Security
Replies: 112
Views: 6598

Re: Stats on When People Take Social Security

And then there are some, admittedly few, who took SS at 62 because they had young children who would get benefits, and a spouse who would wait until age 70. Not everyone filing at 62 “doesn’t get it.” 🍅 🍅 We have an autistic son who very well may be eligible for disability. If I understand it corre...
by JBTX
Sun Jan 14, 2018 10:36 pm
Forum: Investing - Help with Personal Investments
Topic: Are there any situations where you don’t max retirement opportunities?
Replies: 16
Views: 1934

Re: Are there any situations where you don’t max retirement opportunities?

I've been working on a spreadsheet much of the day mapping out income, withdrawals from retirement, etc, and it is pretty depressing. :( Conclusions: 1. We are going to have to cut back on spending. 2. Even if we cut back from where we are, assumptions still show us draining our liquid cash by the t...
by JBTX
Sun Jan 14, 2018 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Budgeting Vs Savings Rate
Replies: 65
Views: 4142

Re: Budgeting Vs Savings Rate

We have saved on average probably 20% of gross. We track expenses in Quicken but have never really done a budget long term. ... I hate to say it but I haven’t had much luck in “selling” that to DW, and I’m not without fault myself. I’m probably going to take another swing at it soon because we need...
by JBTX
Sun Jan 14, 2018 10:48 am
Forum: Investing - Help with Personal Investments
Topic: Are there any situations where you don’t max retirement opportunities?
Replies: 16
Views: 1934

Re: Are there any situations where you don’t max retirement opportunities?

Historically we have been in the 25 or 28 percent bracket with no state income taxes. We would not buy her a new car. Probably low mileage used, maybe like a used Camry. I’d like for the car to be safe. This is all dependent on her eventually getting her license which isn’t a given at this rate. I ...
by JBTX
Sun Jan 14, 2018 1:46 am
Forum: Personal Consumer Issues
Topic: Where to retire in Florida?
Replies: 165
Views: 27902

Re: Where to retire in Florida?

westrichj312 wrote:
Fri Dec 22, 2017 9:13 am
everyone I know swears by the Villages, largest retirement community in the world and lots of fun.
Indeed.

https://www.google.com/amp/s/nypost.com ... droom/amp/
by JBTX
Sun Jan 14, 2018 1:43 am
Forum: Personal Consumer Issues
Topic: Where to retire in Florida?
Replies: 165
Views: 27902

Re: Where to retire in Florida?

Gainesville is a decent place to retire, but not by beach. University town. As a person who grew up in FL I tend to think beaches may be a bit overrated. Most people who live there rarely actually go to be beach. FL is very humid. I grew up with it so not a big deal but to others maybe not. I’m not ...
by JBTX
Sun Jan 14, 2018 1:25 am
Forum: Personal Finance (Not Investing)
Topic: Budgeting Vs Savings Rate
Replies: 65
Views: 4142

Re: Budgeting Vs Savings Rate

We have saved on average probably 20% of gross. We track expenses in Quicken but have never really done a budget long term. I’ve tried a couple of times but it never really stuck. The only real reason to do a line item budget is if you are truly committed to acting upon it and changing spending habi...
by JBTX
Sun Jan 14, 2018 1:04 am
Forum: Investing - Help with Personal Investments
Topic: Are there any situations where you don’t max retirement opportunities?
Replies: 16
Views: 1934

Re: Are there any situations where you don’t max retirement opportunities?

What is your tax bracket? The higher your bracket, the more valuable your retirement accounts. Do you want/plan to retire early? If so, you are giving up a massive tax benefit by not contributing to the 401k because you will have a long window with low taxable income. Can you give daughter a beater...
by JBTX
Sat Jan 13, 2018 11:35 pm
Forum: Investing - Help with Personal Investments
Topic: Are there any situations where you don’t max retirement opportunities?
Replies: 16
Views: 1934

Re: Are there any situations where you don’t max retirement opportunities?

...The result is 90+ % of our savings are in various retirement accounts... ...I hate to leave tax advantaged retirement opportunities on the table but the value of additional contributions seem pretty incremental vs investing in ibonds or paying off mortgage down the road ( will be close call if w...
by JBTX
Sat Jan 13, 2018 10:54 pm
Forum: Investing - Help with Personal Investments
Topic: Are there any situations where you don’t max retirement opportunities?
Replies: 16
Views: 1934

Are there any situations where you don’t max retirement opportunities?

This last year I had modest self employment earnings, and my DW worked full time. I’m over 50 and since early 20s have almost always maxed out retirement accounts opportunities between 401ks Roth IRAs etc. The result is 90+ % of our savings are in various retirement accounts. Roughly 55% traditonal ...
by JBTX
Sat Jan 13, 2018 10:22 pm
Forum: Investing - Help with Personal Investments
Topic: Confirmation on my calculations for Solo 401k?
Replies: 8
Views: 556

Re: Confirmation on my calculations for Solo 401k?

If I have Self Employed profit of $75,000, and I have made $18,000 Elective deferrals for EmployEE side, my maximum plan contribution for the year would be $31,940. (accounting for $5,299 deduction for Self Employment Tax.) Therefore my Max Profit Sharing for EmployER side would be $13,940? (Catchu...
by JBTX
Sat Jan 13, 2018 9:49 pm
Forum: Investing - Help with Personal Investments
Topic: Need to move "safe" money to another place
Replies: 18
Views: 1750

Re: Need to move "safe" money to another place

Do you have a will or living trust? Ultimately you can designate secondary beneficiaries that way. I understand the desire to avoid probate and do a direct designation but I would probably consider FDIC insurance and higher yield more important.
by JBTX
Sat Jan 13, 2018 9:08 pm
Forum: Personal Consumer Issues
Topic: Anyone disenchanted with retirement?
Replies: 148
Views: 14395

Re: Anyone disenchanted with retirement?

Whatever helps you cope! Show me your peer reviewed longitudinal study and maybe I'll buy it. Ugh. You missed the point entirely. Who referenced anything about "coping" (except, perhaps, those who are still working)? Some of us don't need useless click bait in usatoday, a "peer reviewed longitudina...
by JBTX
Sat Jan 13, 2018 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: COBRA alternative for 1 month? (it's $2,400 per month!)
Replies: 69
Views: 3262

Re: COBRA alternative for 1 month? (it's $2,400 per month!)

slightly off topic - but is cobra (or other insurance ever tax deductible?) I assume not? Yeah, kind of! COBRA premiums can be paid with HSA dollars, which have been accumulated tax-free. See item 7: https://www.forbes.com/sites/robertberger/2016/12/02/14-surprising-facts-about-health-savings-accou...
by JBTX
Sat Jan 13, 2018 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: COBRA alternative for 1 month? (it's $2,400 per month!)
Replies: 69
Views: 3262

Re: COBRA alternative for 1 month? (it's $2,400 per month!)

Even though I have great respect for dm200, I am going to have to be the Yin on this Yang. I feel as though their response on every COBRA thread represents a FUD campaign. There really are no practical risks to using COBRA for gap pending-coverage if you simply make the election and payments on tim...
by JBTX
Sat Jan 13, 2018 8:28 pm
Forum: Personal Consumer Issues
Topic: wireless dead again - router suggestions?
Replies: 35
Views: 1659

Re: wireless dead again - router suggestions?

Installed orbi system about a month ago. So far so good. No issues and much improved WiFi reception through out house.

I’ve had a couple of prior routers go bad every3-5 years.
by JBTX
Sat Jan 13, 2018 7:17 pm
Forum: Investing - Help with Personal Investments
Topic: I Bond Rate and Yield
Replies: 4
Views: 804

Re: I Bond Rate and Yield

https://www.treasurydirect.gov/indiv/research/indepth/ibonds/res_ibonds_iratesandterms.htm Ibonds issued may - October 2001 have a fixed rate of 3.0% plus the applicable inflation rate that applies to all ibonds. I’m not exactly sure where your quoted numbers can from but most recent composite retur...
by JBTX
Sat Jan 13, 2018 3:53 pm
Forum: Investing - Theory, News & General
Topic: AA is much harder than I thought...
Replies: 27
Views: 3107

Re: AA is much harder than I thought...

Everything I have learned tells me that I should be buying bonds right now -- the 'trendiness' of 100% stocks (and their meteoric rise), the bleak projections for bonds, etc.. Then you haven't learned anything valuable. You shouldn't base your allocation decisions on trendiness or projections. Why ...
by JBTX
Fri Jan 12, 2018 10:41 am
Forum: Investing - Help with Personal Investments
Topic: Roth 401 vs traditional 401
Replies: 3
Views: 272

Re: Roth 401 vs traditional 401

My company has always offered me traditional 401k and 457b. I have been maxing these out annually. They just announced a future option of Roth 401k this year but no further details yet released. Questions to the group: 1) is this typically going to be an either/or choice for 401k, or do employers e...
by JBTX
Thu Jan 11, 2018 3:19 pm
Forum: Personal Consumer Issues
Topic: anything to buy to save on taxes
Replies: 9
Views: 983

Re: anything to buy to save on taxes

I don't understand anything about business finance or taxation; I've always been a W2 employee and so has everyone in my family. When I see talk about spending for purposes of tax write offs, it seems to me the same as carrying a mortgage for the same reason. Spend $1 to avoid paying 25 cents? Is t...
by JBTX
Thu Jan 11, 2018 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: "Emergency Fund" Strategy
Replies: 39
Views: 3866

Re: "Emergency Fund" Strategy

Ibonds may also be an option. In our case we probably have about 1 year expenses in liquid cash or cash equivalents. Roughly half in ibonds, and the other half divided between online savings account and checking accounts. I would consider in our case the ibonds are more part of the bond portion of i...
by JBTX
Thu Jan 11, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Wills and Trusts - what are you doing for the "immediate family all gone" scenario?
Replies: 8
Views: 566

Re: Wills and Trusts - what are you doing for the "immediate family all gone" scenario?

Half to my siblings and half the DW siblings. I have less siblings but figured half was mine and It only seemed fair to keep my half on my side of family.
by JBTX
Thu Jan 11, 2018 10:11 am
Forum: Personal Consumer Issues
Topic: Car accident - was directed to sign release
Replies: 59
Views: 3639

Re: Car accident - was directed to sign release

Would a lawyer want to get involved with a minor auto accident, where the out of pocket costs are less than $2000? Lawyers typically don’t want to get involved unless there is injury. Since there was, at least make a call to one for a free consultation. I called for an accident but I was not injure...
by JBTX
Wed Jan 10, 2018 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: "CAGR" of extra mortgage payments
Replies: 7
Views: 828

Re: "CAGR" of extra mortgage payments

I have heard it said many times, that a mortgage behaves like a negative bond. Therefore, if I have a 4% mortgage, then paying extra on the mortgage is equivalent to buying a bond that returns 4% (let's ignore the potential tax-deductibility of mortgage interest for now). I believe this, but the pr...
by JBTX
Wed Jan 10, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to "call in rich"?
Replies: 75
Views: 11978

Re: Is it time for me to "call in rich"?

I always tell people that my definition of rich is people without kids. When I read your post , I eventually came to the line where you have no kids. Yes, you are rich . LOL Exactly. We are about the same age as OP, with somewhat less, but 2 kids. it is entirely plausible we would be in similar fin...
by JBTX
Wed Jan 10, 2018 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: How to pay for a new kitchen and dining room
Replies: 26
Views: 1545

Re: How to pay for a new kitchen and dinning room

This summer, did a remodel - between remodel and new furniture spent about $100k. Refinanced my mortgage and did cash out for about $70k. 3.25% 15 year. Downside is here in TX refinance fees are in thousands of $$, and my rate went up 0.25%. Upside is I did it with Quicken loans and it is very easy ...
by JBTX
Wed Jan 10, 2018 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to "call in rich"?
Replies: 75
Views: 11978

Re: Is it time for me to "call in rich"?

Seems like you are in really good shape financially. Given you don't really have a plan, I'd be a little concerned about your reasons for retiring, and what you are going to do instead. Any possibility of doing any consulting on the side? I am trying to work out a deal where I can work part time as...
by JBTX
Wed Jan 10, 2018 10:37 pm
Forum: Personal Finance (Not Investing)
Topic: Is it time for me to "call in rich"?
Replies: 75
Views: 11978

Re: Is it time for me to "call in rich"?

Seems like you are in really good shape financially.

Given you don't really have a plan, I'd be a little concerned about your reasons for retiring, and what you are going to do instead. Any possibility of doing any consulting on the side?
by JBTX
Wed Jan 10, 2018 10:16 pm
Forum: Personal Consumer Issues
Topic: Cobra plans and insurance gap
Replies: 7
Views: 427

Re: Cobra plans and insurance gap

Yes, and that piece from the Chinese space station in a decaying orbit it what will do it. If you are really worried, Oh, I don't know... You could complete the Cobra paperwork, puting it in an envelope, dating it a couple of weeks before it is due and giving to a trusted source for mailing on the ...
by JBTX
Wed Jan 10, 2018 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: Input/Thoughts Needed: Education/Career Path - Crucial Life Point
Replies: 14
Views: 853

Re: Input/Thoughts Needed: Education/Career Path - Crucial Life Point

I have a degree in accounting, and MBA and 30 years experience in accounting in finance. You are right coming out with a degree in your late 30's put you at a disadvantage in terms of entry level accounting jobs. A lot of accountants out of school start out at an accounting firm, doing audit or tax....
by JBTX
Wed Jan 10, 2018 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: How much/little money to give kids in will so they continue to work
Replies: 95
Views: 7871

Re: How much/little money to give kids so they continue to work

Depends on the individual, but 25 seems kind of young. In the other thread I mentioned when our children were born we made the age 30, but more recently we changed the documents and basically kept the money in the trust throughout their lives and have a trusted relative as a trustee. You can make th...
by JBTX
Tue Jan 09, 2018 11:13 pm
Forum: Investing - Help with Personal Investments
Topic: How crucial are Admiral shares?
Replies: 6
Views: 1444

Re: How crucial are Admiral shares?

I have Vanguard solo 401k. Investor fees are something like 0.1% higher than admiral. That is pretty nominal. They have Roth option also. If it’s only going to be you and you won’t be rolling any money from other rollover IRAs it should be fine. It is less flexible than other solo 401ks if you wish ...
by JBTX
Tue Jan 09, 2018 10:57 pm
Forum: Investing - Theory, News & General
Topic: Year 2000 retirees using the '4% rule' - Where are they now?
Replies: 289
Views: 24326

Re: Year 2000 retirees using the '4% rule' - Where are they now?

Really good thread and really good data. Thanks for posting. My take is that it shows even in the worst US scenarios mathematically it turns out fine. But in some of those cases where after 16 years my portfolio is less than half that is probably pretty stressful. You are 70-75 years old, pulling ou...
by JBTX
Tue Jan 09, 2018 10:03 pm
Forum: Investing - Help with Personal Investments
Topic: Roth help - income limit
Replies: 13
Views: 888

Re: Roth help - income limit

Thanks for the responses, much appreciated. So I can open a Traditional IRA with say Vanguard, fund it with post tax $ and then roll that money into my Roth at Vanguard? If so, can I transfer that money from Traditional to Roth a few different times during the year? And doing this avoids the Roth i...
by JBTX
Tue Jan 09, 2018 9:39 pm
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 126
Views: 20630

Re: 2 reasons the elderly might pay-off a mortgage

The older you are the more sense it makes sense to pay off mortgage. Sorry, this is not always true. For example (I'm 93), even though I could afford to pay-off my mortgage, I chose to refinance with a larger (low interest) mortgage. Here's why: * A large part of my net-worth was tied-up in my home...
by JBTX
Tue Jan 09, 2018 8:59 pm
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 126
Views: 20630

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

While many things are true in the article it is very one sided. Of course is one is filthy rich and has hundreds of thousands of cash lying around, sure pay off the mortgage. The key to the question is liquidity. If you have lots of liquidity paying off a mortgage is probably better than a comparabl...
by JBTX
Tue Jan 09, 2018 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Cash-out refinance to REDUCE equity?
Replies: 18
Views: 1495

Re: Cash-out refinance to REDUCE equity?

I think with a cash out mortgage would not be tax deductible under the new Trump law, especially over 750K so that's definitely a negative. Only purchase mortgages are tax deductible now up to 750K. So maybe sell your house and buy another with minimum down? I would think refi's are as well. A refi...
by JBTX
Tue Jan 09, 2018 2:33 pm
Forum: Personal Consumer Issues
Topic: Men's no iron dress shirt recommendations
Replies: 66
Views: 3945

Re: Men's no iron dress shirt recommendations

Mostly use Joseph a banks traveler . Typically will take them to laundry, have them do light starch, and wear them several times at work and hang up at home. I always wear undershirt. They do get a bit wrinkled in the back or wear you tuck in (if you tuck in) but the amount of wrinkles are about wha...
by JBTX
Tue Jan 09, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: 2018 tax rates and negotiating 1099 employment
Replies: 4
Views: 567

Re: 2018 tax rates and negotiating 1099 employment

Make sure you consider all of the implications for employee benefits as well. 401k can probably be replaced by a solo 401k or SEP of some sort. But health benefits could be significantly more expensive or may have other issues, depending on the individual plans available in your area. Typically vac...
by JBTX
Mon Jan 08, 2018 9:42 pm
Forum: Personal Consumer Issues
Topic: Proxy server question
Replies: 3
Views: 245

Re: Proxy server question

There are som parental control software programs that might block them. http://www.techradar.com/news/the-best-free-parental-control-software However if you have a savvy 13 year old knows much more than you on this it will be an uphill battle. If it is really a problem you may need some hands on help.
by JBTX
Sun Jan 07, 2018 12:07 pm
Forum: Personal Consumer Issues
Topic: When to drop comprehensive auto coverage?
Replies: 25
Views: 2448

Re: When to drop comprehensive auto coverage?

I’ve always kept the c&c with $1000 deductible. The problem with dropping it completely when car value drops is the cost of fixing the car doesn’t drop. Then you may be faced with a several thousand dollar decision to repair the car or otherwise replace car faster than you otherwise would have. I’m ...
by JBTX
Sat Jan 06, 2018 11:03 pm
Forum: Investing - Help with Personal Investments
Topic: Quandary regarding granddaughter
Replies: 5
Views: 1312

Re: Quandary regarding granddaughter

OK so I have one son and one grandchild. I’m 58. We have enough money and we want to pass some on to the grandchild. My son has a PhD in CS and has a really good job in tech. He’s 30 and makes $250k in Silicon Valley. His wife has an MBA and makes another 150k. So I don’t really need to leave anyth...
by JBTX
Sat Jan 06, 2018 10:53 pm
Forum: Investing - Help with Personal Investments
Topic: Anybody recommend a good equity fund?
Replies: 22
Views: 1371

Re: Anybody recommend a good equity fund?

Hey bogleheads, question does anybody recommend a good equity fund? so far I have like $1100 invested in vffvx " 2055" and was thinking of maybe buying Vanguard Equity Income Fund Investor Shares (VEIPX) but buy slowly as I do not currently have $3000 to buy at once. Definitely would prefer a 90% s...
by JBTX
Sat Jan 06, 2018 10:49 pm
Forum: Personal Finance (Not Investing)
Topic: Trusts for adult Children
Replies: 202
Views: 9689

Re: Trusts for adults Children

When our children were very young, we drafted wills and trusts that would put moneys into trust until they reached 30 or 35, I forget exactly. In later years when we determined one was special needs, and the other one had her own impulsive issues that may very well be long term, we decided to change...
by JBTX
Sat Jan 06, 2018 10:41 pm
Forum: Investing - Help with Personal Investments
Topic: How often to invest; or: how to avoid commissions?
Replies: 21
Views: 1442

Re: How often to invest; or: how to avoid commissions?

I guess what you could do for your periodic weekly or monthly investments is put the money in Schwab commission free ETFs. You don't necessarily have to turn around and convert your existing Vanguard ETFs - you could have your initial money in the vanguard ETFs and new contributions in the Schwab ET...
by JBTX
Sat Jan 06, 2018 10:31 pm
Forum: Investing - Help with Personal Investments
Topic: 25 Year Old - Need help with picking 401k funds
Replies: 15
Views: 939

Re: 25 Year Old - Need help with picking 401k funds

Hello, I started working in May of 2016 and I was told to call Fidelity to start my 401K fund. The customer service rep chose the Target Date 2055 fund for me but I want to know from your guys whether its the right strategy. Given below are the funds that are available to me. I couldn't find the ti...
by JBTX
Sat Jan 06, 2018 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage - what is my effective rate now?
Replies: 12
Views: 792

Re: Paying off mortgage - what is my effective rate now?

I'm hoping someone might vet my thinking and my calculations here. With the new tax bill, and the standard deduction rising to $24,000, the value of itemizing diminishes. In my scenario, I have the following deductions available to be under the new tax bill: Mortgage Interest - $21,000 Property Tax...
by JBTX
Sat Jan 06, 2018 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage - what is my effective rate now?
Replies: 12
Views: 792

Re: Paying off mortgage - what is my effective rate now?

keepItSimple wrote:
Sat Jan 06, 2018 6:17 pm
Isn't that what this equation is?

So: .67(3.75) (the non-deductible portion) + .33(3.75/2) (the deductible portion) = 3.13% effective interest rate on my loan now.
Yes. That is your effective rate.
by JBTX
Sat Jan 06, 2018 6:24 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage - what is my effective rate now?
Replies: 12
Views: 792

Re: Paying off mortgage - what is my effective rate now?

I'm hoping someone might vet my thinking and my calculations here. With the new tax bill, and the standard deduction rising to $24,000, the value of itemizing diminishes. In my scenario, I have the following deductions available to be under the new tax bill: Mortgage Interest - $21,000 Property Tax...
by JBTX
Sat Jan 06, 2018 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage - what is my effective rate now?
Replies: 12
Views: 792

Re: Paying off mortgage - what is my effective rate now?

keepItSimple wrote:
Sat Jan 06, 2018 6:17 pm
Isn't that what this equation is?

So: .67(3.75) (the non-deductible portion) + .33(3.75/2) (the deductible portion) = 3.13% effective interest rate on my loan now.
Never mind.