Search found 198 matches

by steelerfan
Sat Dec 23, 2023 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Retiring - SS question
Replies: 8
Views: 1220

Re: Retiring - SS question

jebmke wrote: Sat Dec 23, 2023 9:16 am I found the AnyPIA tool pretty helpful.
https://www.ssa.gov/oact/anypia/download.html

I actually used it after I had applied and received a determination letter to verify that their calculation of my benefit at my start date was correct (it was not but they fixed it when I contacted them).
Thanks - I went to the link. Unfortunately, I only have a Chromebook and an iPad. The software requires either a desktop or Mac computer.

Any other suggestions?
by steelerfan
Sat Dec 23, 2023 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Retiring - SS question
Replies: 8
Views: 1220

Retiring - SS question

I am 59 and I am retiring this month. I am planning to take SS at 67. When I look at my SS statement it says I will receive $2500/mo at age 67. My question: Is this an accurate number since I will not be working? If not, how do I calculate a more accurate number?

Any help would be appreciated!

Mark
by steelerfan
Thu Sep 29, 2022 10:16 am
Forum: Personal Finance (Not Investing)
Topic: How to divide family home
Replies: 6
Views: 786

How to divide family home

I need some wisdom from the group. Here is the scenario: I will be retiring soon and my wife and I are interested in living in my wife's mother's home in retirement. Her mother is in her early 80s and could live another 10 years. We would like to purchase the house, live in it, take care of mother, etc... My wife's 3 siblings are not interested in living in the house and are happy to have us living there. My predicament is how to give her siblings a share of this house and give her mother some extra spending money to have. The house is going to need lots of renovation for my wife and me to be happy there. For the sake of this situation, let's say the house is worth $100k as is. How much do we pay her? How does she divide up the money betwee...
by steelerfan
Tue Jun 15, 2021 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Death tax question
Replies: 4
Views: 618

Re: Death tax question

Annuity - so it is taxable. Thanks.
by steelerfan
Tue Jun 15, 2021 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Death tax question
Replies: 4
Views: 618

Death tax question

A co-worker asked me about having to pay taxes on an inherited life insurance policy. My coworker lives in Georgia and her grandmother lived in NJ (if that makes a difference). My coworker received paperwork and one question was, "Do you want us to withhold taxes?"

What is my advice?

Thanks
by steelerfan
Fri Oct 02, 2020 7:07 am
Forum: Personal Consumer Issues
Topic: Best way to continually get SiriusXM Radio discount
Replies: 26
Views: 3476

Re: Best way to continually get SiriusXM Radio discount

catdude wrote: Thu Oct 01, 2020 12:20 pm I posted this in the other thread on this subject, but basically all you have to do is go online, log in to your account, and cancel your subscription. You'll immediately be given several lower-cost options for sticking with SiriusXM. Much easier than calling them and dealing with their representative...
Can you provide a link or a description? I looked all over that website and the only option I saw was to call or chat - and for some reason the chat function was not working at the time.
by steelerfan
Thu Oct 01, 2020 9:48 am
Forum: Personal Consumer Issues
Topic: Best way to continually get SiriusXM Radio discount
Replies: 26
Views: 3476

Re: Best way to continually get SiriusXM Radio discount

After successfully doing this, I told a coworker of mine who also has XMradio. The conversation went like this: Me: Hey, you got XMradio, right? HER: Yep. ME: So I got an auto renewal notice for $250 so I called them to cancel. They immediately offered it to me for $99. HER: SHUT UP!!! ME: For real. But I wasn't done. I told her I would only do it for $60. She said OK! HER: No way!!! ME: Yep. So she wanted to charge me starting the next day. So, I told my current subscription doesn't expire until end of Nov. She said she would credit me for that and I would be charged only $35 for an annual subscription! HER: Unbelievable!!!! ME: So when it's time for you to renew, you should try it. HER: I just renewed. At full price. :annoyed ME: :oops:
by steelerfan
Wed Sep 30, 2020 9:24 am
Forum: Personal Investments
Topic: Please review my updated portfolio
Replies: 8
Views: 1067

Re: Please review my updated portfolio

retiredjg wrote: Wed Sep 30, 2020 8:55 am Any idea on whether you will be in the 12% or 22% bracket in retirement? (Actually, it should be 15% or 25% by the time you retire.)

Good to hear about the Tri-care. That will be a big benefit.
Probably 12% (or 15%).

I am budgeting 65K expenses in todays dollars.
by steelerfan
Wed Sep 30, 2020 8:47 am
Forum: Personal Investments
Topic: Please review my updated portfolio
Replies: 8
Views: 1067

Re: Please review my updated portfolio

1. Should I use money from my taxable VMMXX account to increase contributions in order to max out my 401K (TSP) until I retire? I'm not sure you actually need to grow your TSP account. If your expenses in retirement will be covered by the two pensions (and presumably SS later on), then growing the TSP account does not seem to be a high priority to me. On the other hand...moving money from taxable to Rothness is hardly a bad idea. If you really are in the 12% bracket, the idea of moving some from taxable to Roth TSP seems like a great idea to me. I don't see how that could hurt - it could still be used for the house if you want. And it appears you have already decided that Roth TSP is the best choice for you. (I agree.) A couple of things n...
by steelerfan
Mon Sep 28, 2020 2:17 pm
Forum: Personal Investments
Topic: Please review my updated portfolio
Replies: 8
Views: 1067

Please review my updated portfolio

DATE: September 2020 Emergency funds: We have a fully funded EF in savings plus additional funds for new cars, property taxes, Christmas, Vacations, etc… Tax Filing Status: Married Filing Jointly Marginal Tax Rate: 22% Federal, 6% State Debt: None State of Residence: Ga Age: 56 Desired Asset allocation: 70% stocks / 30% bonds (??) Desired International allocation: 10-15% of stocks (??) Current retirement assets: $588K Taxable: 34% VMMXX Expense ratio is .16% His 401k (TSP): 10% ROTH TSP L2030 expense ratio is .04% 31% TRAD TSP L2030 expense ratio is .04% His Roth IRA at Vanguard: 2% VTABX expense ratio is .11% 6% VTIAX expense ratio is .11% 4% VTSAX Expense ratio is .04% Her Roth IRA at Vanguard: 5% VBTLX expense ratio is .05% 7% VTSAX expe...
by steelerfan
Tue Jul 07, 2020 8:04 pm
Forum: Personal Investments
Topic: $200k windfall from sale of house
Replies: 3
Views: 813

Re: $200k windfall from sale of house

Vogatrice wrote: Tue Jul 07, 2020 7:40 pm My only constructive comment would be, will you still have enough to build your retirement home if your S&P 500 index fund falls back in the next few years? If not, would a fixed-term cash instrument for part of the amount you intend to invest help you sleep better?
So, this is the big question, really. I will probably need to start spending that money 6-7 months prior to retirement to ensure I have the new house built and ready to move into.
by steelerfan
Tue Jul 07, 2020 7:08 pm
Forum: Personal Investments
Topic: $200k windfall from sale of house
Replies: 3
Views: 813

$200k windfall from sale of house

I am at least 4 years from retirement and someone made me an offer I couldn't refuse on my house. I will net $200k and trying to decide what is best to do with it. My plan is this:

Rent on the cheap until retirement.

Put $50k - $100k in VMMXX to allow me to max out my TSP (already maxing out 2 rIRAs). To do this I will increase my contribution to max out and withdraw same amount from VMMXX to reimburse my checking acct.

I will invest the $100k - $150k in a S&P 500 index fund (taxable).

After I retire, move to my new retirement location and build my retirement house with retirement funds.


Thoughts?
by steelerfan
Wed Aug 21, 2019 10:33 am
Forum: Personal Consumer Issues
Topic: Buying an older used car - any new/different ideas?
Replies: 64
Views: 4435

Re: Buying an older used car - any new/different ideas?

THY4373 wrote: Fri Aug 16, 2019 5:38 pm
Luxury clones of family sedans are sometimes cheaper than the family sedan they are a clone of especially when you want a fully loaded version.
Not sure what you are referring to. I have never heard the term, "luxury clone" when talking about cars. Can you give me an example of what you mean?
by steelerfan
Thu Jul 11, 2019 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Paying cash for a vehicle
Replies: 87
Views: 13778

Re: Paying cash for a vehicle

Nissanzx1 wrote: Wed Mar 20, 2019 7:07 am
Side note on Dave Ramsey: I’m a fan. When I first heard Dave, I had 3 car loans, 11 credit cards, and couldn’t rub two $100 bills together. 10 years later I have 5 Paid for vehicles, 3 paid for homes, retirement on track, no debt of any kind, significant cash emergency fund. His personal story somehow resonated with me, and impacted my life in a fantastic way. If you follow his steps and make at least $50-60K, you’ll likely become a millionaire...
I have a very similar story. It was truly rags to riches. A negative net worth to high six figures in about 10 years. I attribute it all to DR and this forum. Somehow paying cash for stuff just works - at least it worked for me.
by steelerfan
Fri May 10, 2019 5:06 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you donate?
Replies: 100
Views: 10033

Re: How much do you donate?

SrGrumpy wrote: Fri May 10, 2019 4:53 pm
steelerfan wrote: Fri May 10, 2019 8:03 am 10% of net to my local church, plus additional money to a missionary in Congo.
Which Congo?
Mbandaka, DRC
by steelerfan
Fri May 10, 2019 8:03 am
Forum: Personal Finance (Not Investing)
Topic: How much do you donate?
Replies: 100
Views: 10033

Re: How much do you donate?

10% of net to my local church, plus additional money to a missionary in Congo.
by steelerfan
Mon Apr 15, 2019 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Personal Finance Apps/Websites
Replies: 9
Views: 2516

Re: Personal Finance Apps/Websites

everydollar for budgeting
personal capital for net worth
google sheets to track savings account allocations
FIREcalc for retirement projections
by steelerfan
Thu Apr 04, 2019 2:59 pm
Forum: Personal Investments
Topic: Advice for son begining to invest
Replies: 33
Views: 2257

Re: Advice for son begining to invest

Respectfully, I would first consider advising him on topics related to living independently before I broached the topic of investing. +1 At 27k a year, I don't think he has much money to invest if he lives independently He doesn't have a lot to invest, but right now he is spending extra cash on online games and such. Why is he not spending the extra money on paying you rent and for groceries? There are MUCH bigger issues then him starting to invest. He won't invest as he KNOWS you are his piggybank and knows the cash will flow to him after you pass. He has no need to change the status quo. Good luck. Ahh, you assume he is NOT paying me rent and for groceries. And I already said that he is wanting to invest. I do agree with you that he need...
by steelerfan
Thu Apr 04, 2019 2:27 pm
Forum: Personal Investments
Topic: Advice for son begining to invest
Replies: 33
Views: 2257

Re: Advice for son begining to invest

miamivice wrote: Thu Apr 04, 2019 1:59 pm
Unicorn1 wrote: Thu Apr 04, 2019 1:39 pm Respectfully, I would first consider advising him on topics related to living independently before I broached the topic of investing.
+1

At 27k a year, I don't think he has much money to invest if he lives independently
He doesn't have a lot to invest, but right now he is spending extra cash on online games and such.
by steelerfan
Thu Apr 04, 2019 1:51 pm
Forum: Personal Investments
Topic: Advice for son begining to invest
Replies: 33
Views: 2257

Re: Advice for son begining to invest

Unicorn1 wrote: Thu Apr 04, 2019 1:39 pm Respectfully, I would first consider advising him on topics related to living independently before I broached the topic of investing.
Definitely doing that too. He was out on his own for awhile, but his roommates moved and so he moved back home.
by steelerfan
Thu Apr 04, 2019 1:34 pm
Forum: Personal Investments
Topic: Advice for son begining to invest
Replies: 33
Views: 2257

Advice for son begining to invest

First a little background. My son is late 20s, still living at home, has a steady girlfriend, and a full time job with some benefits. His 401K does not provide for an employer match. He is debt free, has a small EF, but does not budget well and is not investing. His job only pays about $27K/yr.

I suggested he begin to do some investing and he is willing. I would like to give him some advice on what to do. I know that he will spend what he has so I would rather he put some money where he can't get to it easily. My initial thought was a Target Date Fund from VG, but thought that given his age, maybe something like a simple S&P 500 fund or Total Stock Market Index.

Thoughts?
by steelerfan
Sat Mar 16, 2019 2:32 pm
Forum: Personal Investments
Topic: Portfolio Review - 7 years until Retirement
Replies: 13
Views: 2412

Re: Portfolio Review - 7 years until Retirement

mhadden1 wrote: Sat Mar 16, 2019 2:27 pm Will you qualify for a SS benefit? Did not see it mentioned, sorry if I missed it...
Yes. I will qualify for Social Security.
by steelerfan
Sat Mar 16, 2019 2:14 pm
Forum: Personal Investments
Topic: Portfolio Review - 7 years until Retirement
Replies: 13
Views: 2412

Re: Portfolio Review - 7 years until Retirement

Thank you for your service. Regarding your questions: (1) I would max TSP before ROTHs just to keep my current tax rate low. The motivation for this is bolstered by the fact that you should still be able to save some in a ROTH account each year at your current savings rate and, as the other poster mentioned, you might be able to get a saver's credit. Full Disclosure: My own savings plan is to max my TSP and then save as much as I can each year in the ROTHs up to IRS limits. (2) Your asset allocation is fine. (5) For what it's worth, your on a great glide path for retirement. Congrats! Thanks for replying. I see from my original post that I was not as clear as I should have been (I have edited the OP). I am currently contributing to a Roth ...
by steelerfan
Sat Mar 16, 2019 8:01 am
Forum: Personal Investments
Topic: Portfolio Review - 7 years until Retirement
Replies: 13
Views: 2412

Re: Portfolio Review - 7 years until Retirement

Fishing50 wrote: Sat Mar 16, 2019 4:22 am
You don't provide your expenses in retirement.
If two pensions provide enough income, 70/30 is a good allocation.
If two pensions + social security is enough, you might want to be more conservative now to preserve spending power in early retirement awaiting social security.
Thanks so much for your thoughtful reply. To answer the "expenses in retirement" question. I think we can manage on $60k/yr considering we won't have a mortgage, won't be contributing to retirement, and no need for medical insurance due to me being a military retiree.
by steelerfan
Fri Mar 15, 2019 1:16 pm
Forum: Personal Investments
Topic: Portfolio Review - 7 years until Retirement
Replies: 13
Views: 2412

Portfolio Review - 7 years until Retirement

Thank you in advance for reading this and providing guidance! Emergency funds: We have $30k in savings. This money includes an EF and savings for New Cars, New Roof, HOA fees, Christmas, Vacations, etc… Debt: mortgage @ 3.375 Maturity date is Oct 2026; no other debt Tax Filing Status: Married Filing Jointly Marginal Tax Rate: 12% Federal, 6% State State of Residence: Ga Age: me: 54; wife: 53 Desired Asset allocation: 70% stocks / 30% bonds (??) Desired International allocation: 10-15% of stocks (??) Current retirement assets: $300K Taxable: NONE His 401k: 65% ROTH TSP L2030 expense ratio is .040% Company match - YES His Roth IRA at Vanguard: 19% TR 2030 VTHRX expense ratio is .14% Her Roth IRA at Vanguard: 16% TR 2030 VTHRX expense ratio is...
by steelerfan
Tue Jan 15, 2019 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Best Budgeting App/Program
Replies: 18
Views: 4208

Re: Best Budgeting App/Program

I prefer everydollar for budgeting. I pay a little extra to link the accounts.

I use Personal Capital to track my networth and investments.

I also use a spreadsheet for earmarking my savings for emergencies, car, new roof, vacation, Christmas, etc...
by steelerfan
Fri Jan 04, 2019 12:37 pm
Forum: Personal Consumer Issues
Topic: Comcast Xfi Advantage
Replies: 2
Views: 2270

Comcast Xfi Advantage

I got a letter from Comcast yesterday about upgrading to Xfi Advantage. Looks like a sweet deal - 250 mbps, unlimited data, new high speed modem, wifi assessment of your residence, etc... But there was no price on the letter, so I went to the website - no info there, so I called the Customer Service number. The first rep new very little about it and could not even tell me how much it is or if my area is even eligible for it. She transferred me to a higher level. After about 20 mins wait, I finally got to talk to some one else who was able to verify that my area is eligible, but that there were no promotional rates. So, the rate for me to upgrade was an additional $55.00 - too steep for me. I passed. Anyone else have any experience with this...
by steelerfan
Thu Jan 03, 2019 3:04 pm
Forum: Personal Consumer Issues
Topic: Certified Used BMW, Audi or Mercedes
Replies: 101
Views: 15044

Re: Certified Used BMW, Audi or Mercedes

So, I bought my 2008 MB CLK350 with an original sticker price of $54K for $23K. The car only had 24K miles when I bought it CPO from a MB dealer. The car now has 125K miles and I have put <$1,000/year into it for repairs and maintenance. The issues with my car has been finding someone who will work on it for cheap and will allow me to purchase maintenance items and bring them in. I can save a lot on fluid, oil, and filters by shopping around. I have used a variety of indy shops - but they can be hit or miss. Overall, I am very satisfied with my purchase and would do it all again. One thing that must be remembered is that not all models are equally dependable and not even all MYs are equally dependable. It is best to go to a forum and ask th...
by steelerfan
Tue Nov 27, 2018 12:17 pm
Forum: Personal Investments
Topic: another "Help with my money" questions
Replies: 10
Views: 1371

Re: another "Help with my money" questions

I would use some of the liquid cash in taxable and pay off the student loans (today). Send them packing. I don't really care if the interest rate is only 1.8%. Send Sallie Mae out the door. Then re-direct some of the $750 to a 529 for kid 1. We used 50% 529 and 50% taxable for each of 3 kids as a hedge against scholarships or non-college. The balance of the $750 (now being paid) goes back to taxable or start whacking at the mortgage. I know it is "good debt" (if such a thing exists with the new $24k standard deduction) but it has to go sooner or later. In general you are doing great. Maxing 403b and Roths and HSA. Good sized taxable. Pay cash for next car. Agreed. You make too much money to have student loan debt. Send Sallie Mae...
by steelerfan
Tue Nov 20, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Need a financial check up
Replies: 10
Views: 1428

Re: Need a financial check up

cashisking500 wrote: Mon Nov 19, 2018 3:41 pm After monthly expenditures, retirement contributions, etc., we have about $2000 left over each month. Knowing the liquid savings is slightly over 6 months expenses, what do we do next? Just looking for some guidance. Thank you.
You appear to be doing great! Congratulations!

Assuming you are putting 15% of your gross into Retirement, being a DR guy, I would pay off the car using money from you savings, then build savings back up to 3-6 months of expenses, then pay off your home early.
by steelerfan
Mon Sep 10, 2018 2:21 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else not save for cars?
Replies: 113
Views: 13320

Re: Anyone else not save for cars?

I save for cars.

I used to buy new with loans, but decided I don't want to borrow anymore. Last two cars I bought I paid cash. It works for DW and I.
by steelerfan
Thu May 17, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Having trouble figuring out expected expenses in retirement
Replies: 37
Views: 3731

Re: Having trouble figuring out expected expenses in retirement

If you don't already, I would start doing a monthly budget. Once you start doing that for a few months, I think you will see what expenses might be eliminated or reduced (i.e. Retirement Savings, Mortgage, gas) and what might increase (medical, travel, etc...) in retirement. No one can predict your future expenses exactly, so it is best to predict conservatively so you don't run out before you die.

I hope this helps.
by steelerfan
Wed May 16, 2018 12:51 pm
Forum: Personal Investments
Topic: Financial Advice for Federal Employee
Replies: 10
Views: 1527

Re: Financial Advice for Federal Employee

Steelerfan, You don't need to pay for advice. Figure your military retirement, future FERS retirement, future Social Security, approximate future value of TSP. See what your retirement income would be for various retirement dates. Pick the appropriate L Fund and leave it alone. There are places where you can get advice on timing TSP -- ignore them. Max your TSP; see if Roth makes sense in your situation. Retired fed Thanks. So I used my financial advisor's future projections for military retirement, FERS, SS, TSP, and VG Roth IRAs to plug into the FireCALC website and got great results. However, going forward, I would not know how to project new numbers. Is there a website you know of that will project mil ret, FERS, SS, TSP, and IRAs?
by steelerfan
Wed May 16, 2018 12:45 pm
Forum: Personal Investments
Topic: Financial Advice for Federal Employee
Replies: 10
Views: 1527

Re: Financial Advice for Federal Employee

SagaciousTraveler wrote: Mon May 14, 2018 7:47 pm Steelerfan,

I get a bit worried when I see 'Specializes in Federal Retirees'. I've seen my fair share of people get swindled by taking money out of their TSP and 'investing' it with said person. Also heard of some pension shenanigans.

As a fellow federal employee and vet, I want to make sure you are ok. Granted if you are on this website, worrying about you is most likely a moot point. :sharebeer
HAHA. No need to worry. The advisor has never encouraged me to take money from my TSP L2030 or transfer my money from my two VG TR2030 funds. I have given her a total of a few hundred dollars over the last 5 or 6 years!
by steelerfan
Mon May 14, 2018 7:38 pm
Forum: Personal Investments
Topic: Financial Advice for Federal Employee
Replies: 10
Views: 1527

Re: Financial Advice for Federal Employee

dbr wrote: Mon May 14, 2018 8:29 am Run FireCalc and look at the end results for all the possible outcomes that are displayed on the graph.
So, I followed your advice and the results were very encouraging.

From Firecalc:
"Here is how your portfolio would have fared in each of the 99 cycles. The lowest and highest portfolio balance at the end of your retirement was $280,000 to $11,524,256, with an average at the end of $4,715,006. (Note: this is looking at all the possible periods; values are in terms of the dollars as of the beginning of the retirement period for each cycle.)
For our purposes, failure means the portfolio was depleted before the end of the 48 years. FIRECalc found that 0 cycles failed, for a success rate of 100.0%."
by steelerfan
Mon May 14, 2018 8:20 am
Forum: Personal Investments
Topic: Financial Advice for Federal Employee
Replies: 10
Views: 1527

Financial Advice for Federal Employee

I am retired US Army and have been working for the Federal Gov't (US Army) as a civilian GS employee for 12 years. I want to retire in about 8 years. For the last 4-5 years, I have been using a financial advisor who specializes in Federal Retirees. The fee only advice I get is pretty limited, but what I like to see is her projections for retirement. 2 years ago her projections showed that when I turn 100, I will only have $85K left in retirement funds. Just this month, she ran the projections again and it showed I will have upwards of $900k left when I turn 100. When I asked her about the huge difference, she said that I had been doing very well the last 2 years and that the assumptions going forward were reflecting more optimism. I have si...
by steelerfan
Wed Apr 18, 2018 1:01 pm
Forum: Personal Consumer Issues
Topic: anyone else not liking the new cars?
Replies: 158
Views: 22917

Re: anyone else not liking the new cars?

I totally agree with previous posters about Toyota/Lexus front grill.

Also, the new rear end on Honda Civics and Accord is just awful.
by steelerfan
Wed Apr 18, 2018 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Overall Help w/ Budget
Replies: 15
Views: 2312

Re: Overall Help w/ Budget

I would stick with the Dave Ramsey thing. He has a proven method that works!
by steelerfan
Mon Apr 09, 2018 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Cash flow problems - best way to handle?
Replies: 151
Views: 15616

Re: Cash flow problems - best way to handle?

barnaclebob wrote: Mon Apr 09, 2018 9:11 am I would post my budget here and let us tell you suggestions on how to improve your budget. The only long term solution to a cashflow problem is to spend less or make more money. None of your proposals address either of those and in fact they all increase your spending.
This!
by steelerfan
Mon Apr 09, 2018 8:02 am
Forum: Personal Investments
Topic: 6 yr Progress Update and Checkup
Replies: 8
Views: 1773

Re: 6 yr Progress Update and Checkup

Well done, SMSgt!

I agree with Natsdoc and wait to buy a house. I would also pay with cash if at all possible.

Out of curiosity, what is your online side business? Would you do that full time once you retire?
by steelerfan
Mon Mar 19, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: How seriously do you take emergency fund advice?
Replies: 29
Views: 2429

Re: How seriously do you take emergency fund advice?

Raabe34 wrote: Mon Mar 19, 2018 2:40 pm Payoff the student loans and rebuild the emergency fund.
This. And I would add that you should rebuild that ER as fast as possible! You will be fine.
by steelerfan
Thu Jan 25, 2018 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: Prioritizing paying down debt
Replies: 19
Views: 2370

Re: Prioritizing paying down debt

You are doing great for your age. You are really living the "American Dream". None of your debt is terrible. Completely "normal". Here is a Boglehead tip: Normal kind of sucks. :wink: You need a plan. I think Dave Ramsey - I'd second this, you guys are doing pretty wonderful, have a great income and would encourage you to use a little short term pain for long term financial gain. This is what I would do in order: 1) Have the wifey stop contributing to the ROTH. 2) Sell the stock and liquidate Ally, this will give you 5.5k. 3) Be done with the store CC. Now you have 4.9k 4) Be done with the the 2.8k Student loan. Now you have 2.1k 5) Pay the rest on the 3.15k loan. This will leave you about $1k balance. 6) Reduce your ph...
by steelerfan
Thu Jan 25, 2018 1:40 pm
Forum: Personal Finance (Not Investing)
Topic: How do you decide how wealthy you really are?
Replies: 58
Views: 10287

Re: How do you decide how wealthy you really are?

As someone already said, wealth is relative. If you live in the USA and on this forum, you are probably wealthier (in terms of material resources) than 95% of the rest of the world - and don't ask me to site my source... 8-)

I decide how wealthy I am by monitoring my net worth. I use Personal Capital to do that.
by steelerfan
Thu Jan 25, 2018 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: What will you do with your tax refund?
Replies: 87
Views: 9367

Re: What will you do with your tax refund?

I will be getting ~ $2700 back - mostly due to advanced Charitable contributions due to new tax law. I will be putting my refund back into savings.
by steelerfan
Tue Dec 19, 2017 10:49 am
Forum: Personal Consumer Issues
Topic: How much do you spend on food per month, per person?
Replies: 190
Views: 19431

Re: How much do you spend on food per month, per person?

$225/person/month. Family of three - included in that figure is: eating out + food for 1 cat and 1 dog + household items + alcohol.
by steelerfan
Mon Nov 20, 2017 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Dave Ramsey says don't use credit cards, even if you pay them off
Replies: 221
Views: 26616

Re: Dave Ramsey says don't use credit cards, even if you pay them off

I followed DRs advice many years ago when I was in debt over $50K with a net worth in the red. DR taught me good financial principles like have an EF, spending less than you make, acting your wage, and yes, not to go into debt. He has many other principles as well. He is VERY debt adverse and hates CC companies because they pry on people and give people credit that frankly should not have credit (like college students with no job).

I do not follow his advice on 100% stock mutual funds and other advice on investing, but I don't throw the baby out with the bath water.

Today, I am in a MUCH better financial place thanks to DR. I still listen to his podcast and agree with 90% of the advice he gives.
by steelerfan
Thu Nov 16, 2017 10:29 am
Forum: Personal Finance (Not Investing)
Topic: How much to charge for nanny services on New Year's Eve?
Replies: 29
Views: 3346

Re: How much to charge for nanny services on New Year's Eve?

BW1985 wrote: Thu Nov 16, 2017 10:12 am When my wife was a nanny she had a flat fee of $250 for an overnight. Something to consider.

I also agree that their ability to pay is meaningless. If they can't pay the rate that makes it worth it for you then they should watch their own kids or look elsewhere.
I discussed an overnight with my wife. We like the idea in terms of not having to drive home with all the drunks at 2:00AM. The one concern would be the prospect of spending the night with a young drunk couple that we don't know - no telling what could happen.
by steelerfan
Thu Nov 16, 2017 10:05 am
Forum: Personal Finance (Not Investing)
Topic: How much to charge for nanny services on New Year's Eve?
Replies: 29
Views: 3346

Re: How much to charge for nanny services on New Year's Eve?

Strayshot wrote: Thu Nov 16, 2017 8:38 am Why is ability for the customer to pay a certain rate even relevant? I could understand an attempt at selective pricing for a long term gig, but for a holiday evening I would go double time and call it a day. This is pretty standard practice for non-exempt hourly workers.
My reference to "ability to pay" had only to do with long term positions and not one time gigs - especially if that gig is NYE!
by steelerfan
Wed Nov 15, 2017 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Why pay cash for a car?
Replies: 250
Views: 41492

Re: Why pay cash for a car?

The reason I pay cash for cars is because I got out of debt several years ago (minus the mortgage) at great sacrifice to my standard of living. Now, I pay cash for everything and I can sleep well at night knowing that whatever happens to my or DW's income, those cars are mine! I would never want to go back to that previous lifestyle.