Search found 204 matches

by 220volt
Wed Feb 28, 2024 8:59 am
Forum: Personal Consumer Issues
Topic: BMW named top pick in CR overall brand rankings
Replies: 55
Views: 5697

Re: BMW named top pick in CR overall brand rankings

BMW and Porsche make one of the most reliable incredible machines on the market today. The bottom line for me is this: Germans make engaging, powerful luxury cars with superb driving dynamics you will enjoy every day but require strict and expensive maintenance that many people do not adhere to or are not ready for. Japanese make reliable airconditioned stereos on wheels. Yes, things will go wrong more often in German cars but you get a lot more out of them too. It's easy to make a reliable car with old proven technology, no torque, no driving dynamics, like 90% of Japanese cars. That is their thing and there's a huge market for it. This is why it's even more impressive how BMW these days makes such incredible AND reliable machines. They ar...
by 220volt
Wed Jan 31, 2024 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How do you budget?
Replies: 59
Views: 5891

Re: How do you budget?

I like simplicity and less work. No budgets. No spreadsheets.

First, we max out our 401k, Roth, and savings
Second, 100% of our bills are automatically paid with a reward credit card that is also automatically paid off every month.
What's left is for food and fun

Tweak as needed.
by 220volt
Wed Jan 31, 2024 9:07 am
Forum: Personal Consumer Issues
Topic: Restaurant prices - 'I won't be back anytime soon" list
Replies: 28
Views: 2524

Re: Restaurant prices - 'I won't be back anytime soon" list

... I get it ... It doesn't sound like you do get it. Several of the places you mention have shrunk their profit margins while having to increase prices and source food from lower-quality suppliers - Run-away-inflation last year on transportation, energy, and food was the primary cause. We never ate out more than once a week nor did take-out more than once a week - we haven't changed much. Maybe I don't get it, but I am still not paying more for less. It doesn't seem like there is a choice. Even cooking at home - every thing we buy at the grocery store has gone up in price - paying more for less is what happens with high inflation - and food was hit hard. Several of the fast food places you mention I have rarely eaten at (only when on busi...
by 220volt
Wed Jan 31, 2024 9:03 am
Forum: Personal Consumer Issues
Topic: Restaurant prices - 'I won't be back anytime soon" list
Replies: 28
Views: 2524

Re: Restaurant prices - 'I won't be back anytime soon" list

Glockenspiel wrote: Wed Jan 31, 2024 8:45 am Does anybody remember the "$5 dollar foot-longs" commercial from Subway? It feels like those commercials were still around less than 10 years ago.

I recently went to Subway for the first time in a long time and was stunned by the prices. Foot-long subs were $11-14. For a fast-food, below-average quality sandwich. JUST the sandwich. No drink, no chips, no cookie or anything else. Did they seriously increase their prices by 2.5x in about 10 years???
There was a NYT article last year on how fast food chains have raised their prices beyond inflation year after year, not just because of their expenditures increased, but because they can (supply/demand). McDonald's and Subway were mentioned.
by 220volt
Wed Jan 31, 2024 8:58 am
Forum: Personal Consumer Issues
Topic: Restaurant prices - 'I won't be back anytime soon" list
Replies: 28
Views: 2524

Re: Restaurant prices - 'I won't be back anytime soon" list

SmileyFace wrote: Wed Jan 31, 2024 8:53 am
220volt wrote: Wed Jan 31, 2024 8:27 am ... I get it ...
It doesn't sound like you do get it. Several of the places you mention have shrunk their profit margins while having to increase prices and source food from lower-quality suppliers - Run-away-inflation last year on transportation, energy, and food was the primary cause.
We never ate out more than once a week nor did take-out more than once a week - we haven't changed much.
Maybe I don't get it, but I am still not paying more for less.
by 220volt
Wed Jan 31, 2024 8:56 am
Forum: Personal Consumer Issues
Topic: Restaurant prices - 'I won't be back anytime soon" list
Replies: 28
Views: 2524

Re: Restaurant prices - 'I won't be back anytime soon" list

8foot7 wrote: Wed Jan 31, 2024 8:44 am
220volt wrote: Wed Jan 31, 2024 8:43 am
Barsoom wrote: Wed Jan 31, 2024 8:40 am
220volt wrote: Wed Jan 31, 2024 8:27 amJust wanted to see how Boggle Heads deal with these issues or whether it's just my stubbornness. Does it bother you?
"Winning the game" means not having to look at prices anymore, especially the small stuff like this.

Or maybe that's just me.

-B
As I said, it's not about money, but principles. I simply refuse to pay more for lesser quality. But that's just me.
It's not just you, and that other type of attitude ("I don't have to sweat the small stuff") is what enables this decline.
Yep. People get comfortable with mediocrity real fast, and the next thing you know they are paying $50 for plate of rice and beans.
by 220volt
Wed Jan 31, 2024 8:43 am
Forum: Personal Consumer Issues
Topic: Restaurant prices - 'I won't be back anytime soon" list
Replies: 28
Views: 2524

Re: Restaurant prices - 'I won't be back anytime soon" list

Barsoom wrote: Wed Jan 31, 2024 8:40 am
220volt wrote: Wed Jan 31, 2024 8:27 amJust wanted to see how Boggle Heads deal with these issues or whether it's just my stubbornness. Does it bother you?
"Winning the game" means not having to look at prices anymore, especially the small stuff like this.

Or maybe that's just me.

-B
As I said, it's not about money, but principles. I simply refuse to pay more for lesser quality. But that's just me.
by 220volt
Wed Jan 31, 2024 8:27 am
Forum: Personal Consumer Issues
Topic: Restaurant prices - 'I won't be back anytime soon" list
Replies: 28
Views: 2524

Restaurant prices - 'I won't be back anytime soon" list

Restaurant prices have skyrocketed while service and food quality have gone down. You pay a lot more for less. I get it, inflation, staff/skill shortages, supply and demand, but some restaurants have offensively jacked up their prices beyond inflation, some almost 50% and beyond!. Wife and I cook a lot anyway but we also like to go out and with busy social life, it used to be 2-3 a week but not anymore. To me, it's not about the money but principles, and I am stubborn like a bull shark, so here's my "I won't be back anytime soon" list so far: Jersey Mike's ($16 for a sandwich? Um no) Five Guys ($20+ with fries and small drink) Panera Bread (low quality and expensive) Papa Jones (almost doubled in price) Longhorn (used to be our go...
by 220volt
Fri Dec 08, 2023 4:47 pm
Forum: Personal Consumer Issues
Topic: Wood stair refinishing advice needed
Replies: 7
Views: 596

Re: Wood stair refinishing advice needed

Thank you all for your advice!
I sanded it down as best I could and uncovered ugly wood underneath, so I decided I would paint it with deck paint (as Sandtrap suggested) and maybe a protective finish. If I stain and ply it, the ugly wood would still show.
by 220volt
Fri Dec 08, 2023 10:58 am
Forum: Personal Consumer Issues
Topic: Wood stair refinishing advice needed
Replies: 7
Views: 596

Wood stair refinishing advice needed

I want to refinish our garage wooden step and the raiser, but not sure whether to use oil-based or water-based polyurethane. Interior or exterior? It is located in the garage at the entry of our home and is a high-traffic area since we use it to enter/exit our home several times a day. So many choices so any advice is appreciated.

Image
by 220volt
Tue Oct 24, 2023 1:13 pm
Forum: Personal Consumer Issues
Topic: Should I trade in my BMW X5 for Toyota Grand Highlander Hybrid Limited?
Replies: 48
Views: 5400

Re: Should I trade in my BMW X5 for Toyota Grand Highlander Hybrid Limited?

renegade06 wrote: Fri Oct 20, 2023 7:46 am Thank you for all of the replies! I own the 40i. I'm not totally sold on this plan, but I will test drive the Highlander (with my bus driver cap) and see how it feels. On another note, I'm really excited for the new Toyota 4 Runner coming out in 2025. I may have to pass the Highlander to the wife at that point :)
Highlander and 4Runner handle like a dump truck in comparison to X5, but they are also pretty much indestructible. For city commute or long distance driving, BMW X5 by several order of magnitude.
by 220volt
Wed Aug 30, 2023 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Social Security vs. drawdown
Replies: 138
Views: 11891

Re: Social Security vs. drawdown

I am 65 at the end of the year, will not be working next year, and my plan has been to bridge to SS at 70. But, I am slightly tempted to claim at 65. Waiting until 70, I'd have to withdraw at a 7% rate for five years. But, at 70, SS would cover all expenses, so little drawdown would be needed. If I claimed at 65 (and wife at my age 68, she's younger), I could get away with a perpetual 1% withdrawal rate. Part of me is attracted to the maintenance of my portfolio size. Another part of me is well aware of the value of maximizing the SS benefit. If I could get away comfortably with 1% I would spend down portfolio for 5 years like there's no tomorrow, do all the things I wished I have done, and then claim the max SS at 70 and be secure for life.
by 220volt
Wed Aug 23, 2023 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Help Annette Keep Working and Not Retire
Replies: 648
Views: 62977

Re: Help Annette Keep Working and Not Retire

I haven't found any low-stress way to keep the mind sharp. Brain has to constantly be challenged, and that means sometimes putting it under stress. I don’t have any proof of this, but it seems to me that intellectuals who keep their mind sharp live unusually long lives. Warren Buffet, Charlie Monger, Noam Chomsky, Freeman Dyson, David Attenborough. Henry Kissinger. Almost every professor, scientist, or intellectual you see on TV looks ancient, and yet exercise and a diet was never part of their lives. The heaviest thing they ever lifted was a pencil. Even Stephen Hawkins lived unusually long considering he had a terminal illness. If your job is not damaging quality of life, I would keep on working or find another way to keep the brain const...
by 220volt
Wed Aug 23, 2023 10:44 am
Forum: Personal Finance (Not Investing)
Topic: Rethinking "Keep Your Car for Ten Years"
Replies: 466
Views: 49581

Re: Rethinking "Keep Your Car for Ten Years"

Someone mentioned being a horsetrader and that is exactly what I do with my cars. I look for luxury or sports cars that are relatively reliable but have depreciated to the max. Think 10-year-old Mercedes S or E-class, various Porsche, Lexus GS/LS, etc. Some of these cars have depreciated by 90%! I buy them for cash, drive them few years, and sell them for almost the same and sometimes even for profit. Since their value has cratered, they are usually cheap to insure and register. Yes, the maintenance will be an issue, but depending on the condition of the car, I price-in the maintenance. And if I see that it is not worth it, I simply skip it and wait for another opportunity. So essentially I have a fun free ride :) Currently driving 2011 Mi...
by 220volt
Wed Aug 23, 2023 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Rethinking "Keep Your Car for Ten Years"
Replies: 466
Views: 49581

Re: Rethinking "Keep Your Car for Ten Years"

Someone mentioned being a horsetrader and that is exactly what I do with my cars. I look for luxury or sports cars that are relatively reliable but have depreciated to the max. Think 10-year-old Mercedes S or E-class, various Porsche, Lexus GS/LS, etc. Some of these cars have depreciated by 90%! I buy them for cash, drive them few years, and sell them for almost the same and sometimes even for profit. Since their value has cratered, they are usually cheap to insure and register. Yes, the maintenance will be an issue, but depending on the condition of the car, I price-in the maintenance. And if I see that it is not worth it, I simply skip it and wait for another opportunity. So essentially I have a fun free ride :) Currently driving 2011 Min...
by 220volt
Wed Aug 23, 2023 8:58 am
Forum: Personal Finance (Not Investing)
Topic: How to accept payment for a private vehicle sale
Replies: 148
Views: 11758

Re: How to accept payment for a private vehicle sale

So is the current consensus:

The buyer is paying by certified check - meet at his bank so you can see the check being issued.
The buyer is paying by cash - meet at your bank. The bank checks for counterfeits and you immediately deposit the cash in your account.
by 220volt
Wed Aug 09, 2023 2:54 pm
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 11149
Views: 2085323

Re: What Movie Have You Recently Watched?

Just saw the new Mission Impossible. IMO, easily the worst of the series and WAY too long. Some of the stunts were really cool but otherwise the story meandered along too much. No idea how its getting such good reviews and I'm a big Tom Cruise fan but this was a dud for me. To each his own. I thought it was the perfect summer blockbuster movie. Cool scenery, great stunts, great action. I thought the story was fine but I go to be entertained and I was thoroughly entertained. Liked it as much as TG Maverick last summer (which I really liked as well). TBF I absolutely loved Maverick and the other Mission Impossible's before this. This one just wasnt my cup of tea. I'm obviously in the minority based on the reviews, which is fine. Movies are v...
by 220volt
Fri Feb 10, 2023 10:29 am
Forum: Personal Consumer Issues
Topic: Why very high speed internet?
Replies: 168
Views: 13918

Re: Why very high speed internet?

I work as an engineer for a large ISP, and most high speeds for both commercial and residential are overkill. Nothing but marketing. Our sales team is so proficient in convincing even the most skeptical engineers that they need that 100Gbps connection (for future-proofing < wink wink>) of which they will utilize 0.5% as seen by our meters. I personally subscribe to the lowest tier available in my company and is way too much. The only reason to subscribe to the highest tier is not the speed but reliability and latency. Higher tier speeds are routed differently than lower tiers in most ISPs. They often have the shortest and most reliable path out of the network and better quality of service (QoS) profiles. This is mostly beneficial to commerc...
by 220volt
Thu Jul 07, 2022 12:27 pm
Forum: Investing - Theory, News & General
Topic: in shock over loss of money in 403(b)
Replies: 131
Views: 17128

Re: in shock over loss of money in 403(b)

I don't see any losses in your portfolio, unless you sell.
I don't see any money down the drain, unless you sell.
by 220volt
Tue Jun 14, 2022 2:08 pm
Forum: Investing - Theory, News & General
Topic: hitting your "number", "25X expenses", "4% SWD rate" not all that?
Replies: 53
Views: 13776

Re: hitting your "number", "25X expenses", "4% SWD rate" not all that?

It is highly unlikely someone would be so unlucky to retire at the exact top or lucky enough to retire at the exact bottom. But the 4% rule does take that into account. That's precisely how they came up with the rule, by finding the worst time to retire and seeing how much of max withdraw rate can be sustained. 4% was it. Otherwise it would be 5% or 6% rule.
by 220volt
Tue May 24, 2022 1:18 pm
Forum: Investing - Theory, News & General
Topic: "experienced" investors: is this time different?
Replies: 377
Views: 54449

Re: "experienced" investors: is this time different?

There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again
- Jesse Livermore
by 220volt
Tue May 24, 2022 1:17 pm
Forum: Investing - Theory, News & General
Topic: Lessons from this crash
Replies: 290
Views: 34344

Re: Lessons from this crash

There is nothing new in Wall Street. There can’t be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again
- Jesse Livermore
by 220volt
Tue May 24, 2022 9:23 am
Forum: Personal Consumer Issues
Topic: Finding reasonably priced groceries
Replies: 190
Views: 17795

Re: Finding reasonably priced groceries

+ for Aldi or Lidle (if you have one in your city.). Apart from growling your own food and livestock, nothing else compares
by 220volt
Tue May 24, 2022 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Quit and retire or stay?
Replies: 116
Views: 18623

Re: Quit and retire or stay?

I am in the same situation as you (except the net worth part) working for a large IT company and I would have quit in January. It depends on your personality and whether your identity is tied to your job.
For mw, if I had that kind of money as a safety, I would get a part-time job or a hobby that I really enjoy. Something completely different from IT. I am also entering my 50's and I look at it as a third chapter in my life and I want it to be entirely separate from my IT career.
by 220volt
Fri May 20, 2022 9:55 am
Forum: Personal Consumer Issues
Topic: Southern Europe vacation recommendation?
Replies: 47
Views: 4446

Re: Southern Europe vacation recommendation?

neilpilot wrote: Fri May 20, 2022 8:18 am
220volt wrote: Fri May 20, 2022 7:35 am With 10 days I would stick to a single country and do 8 days in two cities (4 in each) and 2 days for stuff in between.
For example: Aix Provence --> Cannes --> Nice --> Monaco
You include an example with 2 countries. 😃
Touché. He can then stop in Nice ;)
by 220volt
Fri May 20, 2022 7:35 am
Forum: Personal Consumer Issues
Topic: Southern Europe vacation recommendation?
Replies: 47
Views: 4446

Re: Southern Europe vacation recommendation?

With 10 days I would stick to a single country and do 8 days in two cities (4 in each) and 2 days for stuff in between.
For example: Aix Provence --> Cannes --> Nice --> Monaco
or
Barcelona --> Valencia
or
Florence --> Rome

If you try to pack too many cities or countries in 10 days you'll get a famous choice overload, everything will be a blur and your vacation will fell more like a chore.
by 220volt
Thu May 12, 2022 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market [Home sales]
Replies: 2923
Views: 521025

Re: Tales from this insane real estate market

A friend of mine, an IT professional and his wife bid on a 850k home in Denver. They offered 900k, but go outbid. They offered 950k, got outbid. They offered 1M, but got outbid again. They gave up on a house search, for now.
by 220volt
Wed May 11, 2022 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Stay in house a few more years or move now?
Replies: 39
Views: 4456

Re: Stay in house a few more years or move now?

It might help if you explain why you don't want to stay? I don't like being a homeowner, but I'm single and child-free. I've been in my place about 5 yrs, have paid off most of my mortgage, and plan to sell next year, so it won't be a financial disaster. To state the obvious, for you to sell so soon would probably be financially disastrous. Even if it's not your ideal home, if it serves most of your needs reasonably well it doesn't make sense to move. Remember, long-term doesn't mean forever. Can you live there a few more years then sell it? If moving wasn't so expensive and stressful we would have been out of the house already. But as you stated I'm also very conscious of the fact that interest rates have doubled since I purchased the hou...
by 220volt
Tue Apr 19, 2022 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Conversation I had with a friend ... Healthcare will eat up my savings?
Replies: 53
Views: 5138

Re: Conversation I had with a friend ... Healthcare will eat up my savings?

in the US, unless you planned for medical expenses earlier in life, there are really no good option before Medicare. You would literally have to save up the equivalent of another house (either in monthly payments or lump sum) just for medical expenses. So even if you have your mortgage paid off in retirement, count on paying as much in form of medical expenses.
I mean even with ACA subsidies, $1,200/month for two of us plus $7,000 yearly deductible. That's $28,400 before insurance start paying even a cent! This is why wife and I are moving to Europe, at least until Medicare eligible.
by 220volt
Tue Apr 05, 2022 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Quit my Job if I’m miserable — without another job?
Replies: 64
Views: 7702

Re: Quit my Job if I’m miserable — without another job?

The best time to look for a job is while you have a job. Gives you so much more leverage. Not only you can better pick and choose new carrier/job but it prevents from taking ANY job out of desperation.
by 220volt
Tue Apr 05, 2022 2:38 pm
Forum: Investing - Theory, News & General
Topic: liquidity as happiness
Replies: 135
Views: 14356

Re: liquidity as happiness

It doesn't matter whether it's irrational to hold too much cash or not. Humans are not rational. Higher serotonin level beats rationality any day of the week. Otherwise we would have never experienced toilet paper shortages.
by 220volt
Fri Apr 01, 2022 8:50 am
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Re: Paying taxes in retirement in Kentucky

You will be taxed at the 5% rate on interest, dividends, and capital gains from taxable accounts. Kentucky has a pension exclusion of $31,100 on pensions, IRA withdrawals and other retirement tax sheltered accounts. Any withdrawals above the $31,100 thresh hold is taxed at the 5% rate. They do not tax Social Security at all. All this information is readily available at the ky.gov site. Thanks for the info. The KY pension exclusion is available for both spouses, but it only applies individually to income in that spouse´s name (e.g. If one spouse gets $60,000 in retirement income, deduction is $31,100. If each spouse has 30,000 each in retirement income, deduction is $60,000. https://revenue.ky.gov/Forms/Schedule%20P%202020v2.pdf That's good...
by 220volt
Thu Mar 31, 2022 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Re: Paying taxes in retirement in Kentucky

galawdawg wrote: Thu Mar 31, 2022 9:22 am Do you currently prepare your own tax returns? If so, I'd recommend you prepare a "retirement scenario" return. Input your information as it you anticipate it will be in retirement, such as ages, pension and/or social security income, dividend and interest income, capital gains from sale of investments, deductions, and so on.

That should give you a close estimate of your actual tax liability for the income and deductions you anticipate if current laws and tax rates remain in effect when you retire.

I do our own taxes via Turbotax so that might be a good idea to try to simulate retirement income. I'll also try to dig up some other simulation software that might be out there.

Thanks
by 220volt
Thu Mar 31, 2022 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Re: Paying taxes in retirement in Kentucky

JRA wrote: Thu Mar 31, 2022 8:55 am You will be taxed at the 5% rate on interest, dividends, and capital gains from taxable accounts. Kentucky has a pension exclusion of $31,100 on pensions, IRA withdrawals and other retirement tax sheltered accounts. Any withdrawals above the $31,100 thresh hold is taxed at the 5% rate. They do not tax Social Security at all. All this information is readily available at the ky.gov site.
Thanks for the info.
by 220volt
Thu Mar 31, 2022 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Re: Paying taxes in retirement in Kentucky

Too early to know what will happen, but there is a bill being considered in Kentucky (House Bill 8) that would eliminate the state income tax. It would increase the tax on services that are now exempt, but not tax food. No idea of the chances of this passing or what changes might take place in the bill itself. I often see articles, such as in Kiplinger's, that list the best and worst states for taxes in retirement. However, they are much to general in their summaries and lean towards those with high incomes rather than taking into consideration individual circumstances. I do know about that bill. I doubt it will pass and for now, I'll assume it will not. Just to be safe. We plan to retire outside of the US but keep the residence in KY so s...
by 220volt
Wed Mar 30, 2022 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Re: Paying taxes in retirement in Kentucky

DW and I live in Kentucky right now and KY state income tax is flat 5% regardless of the income. So, if we are to retire with 40k/year withdrawn from our taxed accounts, do we have to pay only state local tax at 5% (2,000/year)? I don't live in KY. It seems that Kentucky has a standard deduction . But I saw some other sites that said it doesn't anymore. One tax software company (CCH) says married couples can claim only one standard deduction: https://answerconnect.cch.com/document/jky0109013e2c83ade235/state/explanations/kentucky/standard-deduction But the Tax Foundation's 2022 State Income Tax Rates and Brackets table shows a Kentucky couple does get twice the standard deduction. That was just from a few quick searches so don't count on i...
by 220volt
Wed Mar 30, 2022 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Re: Paying taxes in retirement in Kentucky

delamer wrote: Wed Mar 30, 2022 6:10 pm What do you mean by “taxed accounts?”

A savings account might have taxable interest, but withdrawals aren’t taxed. A brokerage account that doesn’t throw off any dividends or capital gains might not normally be taxed, but withdrawals could be if there are unrealized capital gains.
Sorry, by taxable I meant brokerage account with low-cost Vanguard index funds. No individual stocks or managed funds.
by 220volt
Wed Mar 30, 2022 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Re: Paying taxes in retirement in Kentucky

DW and I live in Kentucky right now and KY state income tax is flat 5% regardless of the income. So, if we are to retire with 40k/year withdrawn from our taxed accounts, do we have to pay only state local tax at 5% (2,000/year)? That would be the maximum but it depends on what you mean by "taxed accounts". Not all money withdrawn from a taxable or a tax-sheltered account is necessarily taxable. It depends on the type of income, the type of account, and the difference between state and federal tax rules. Federal tax (with standard $25,000 deductions for married couples) should be 0 correct? $40,000 - $25,100 = $14,900. If $14,900 is your taxable income then MFJ your federal taxes are $1,493. This is ignoring unknown credits and de...
by 220volt
Wed Mar 30, 2022 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes in retirement in Kentucky
Replies: 15
Views: 1725

Paying taxes in retirement in Kentucky

DW and I live in Kentucky right now and KY state income tax is flat 5% regardless of the income. So, if we are to retire with 40k/year withdrawn from our taxed accounts, do we have to pay only state local tax at 5% (2,000/year)?
Federal tax (with standard $25,000 deductions for married couples) should be 0 correct?

Thanks,
by 220volt
Thu Mar 17, 2022 2:52 pm
Forum: Investing - Theory, News & General
Topic: Is it time to GET OUT?
Replies: 189
Views: 23253

Re: Is it time to GET OUT?

Peter Lynch once said, “Far more money has been lost by investors preparing for corrections or trying to anticipate corrections than has been lost in corrections themselves.”
by 220volt
Tue Mar 15, 2022 2:37 pm
Forum: Personal Consumer Issues
Topic: Denver vs Cincinnati
Replies: 160
Views: 13012

Re: Denver vs Cincinnati

If you ever been to De Moines, St Louis, Nashville, Louisville, Cleveland, Columbus, Indianapolis, Atlanta, or ANY of the cities in the mid-west, entire south and some Northeast, you’ve been to Cincinnati too. You’ve seen them all. Heartland is pretty homogenous and sterile. Unwalkable urban sprawls littered with stripmalls, huge parking lots, restaurant chains, highways straight through the heart of the city, dreary, gray, slushy and dull winters, hot humid summers with allergies throughout the year as a bonus. You will have 2 pleasant months out of the year, maybe. Even though Denver is not much better as far as the food scene goes (bunch of chains and generic restaurants), I vote Denver 100% on the account of international atmosphere, h...
by 220volt
Tue Mar 15, 2022 1:23 pm
Forum: Personal Consumer Issues
Topic: Denver vs Cincinnati
Replies: 160
Views: 13012

Re: Denver vs Cincinnati

Also, crime rate is lot higher in Cincinnati, and it feels that way when you visit.
by 220volt
Tue Mar 15, 2022 11:38 am
Forum: Personal Consumer Issues
Topic: European Vacation and Ukraine crisis
Replies: 55
Views: 5227

Re: European Vacation and Ukraine crisis

The only country I would postpone or cancel our European vacation for is Ukraine. That's it. If I worried about unpredictable future events every time there's a conflict somewhere, I would have never left my house.
by 220volt
Tue Mar 15, 2022 11:31 am
Forum: Personal Consumer Issues
Topic: Denver vs Cincinnati
Replies: 160
Views: 13012

Re: Denver vs Cincinnati

stoptothink wrote: Tue Mar 15, 2022 11:10 am
220volt wrote: Tue Mar 15, 2022 11:04 am If you ever been to De Moines, St Louis, Nashville, Louisville, Cleveland, Columbus, Indianapolis, Atlanta, or ANY of the cities in the mid-west, entire south and some Northeast, you’ve been to Cincinnati too. You’ve seen them all. Heartland is pretty homogenous and sterile. Unwalkable urban sprawls littered with stripmalls, huge parking lots, restaurant chains, highways straight through the heart of the city, dreary, gray, slushy and dull winters, hot humid summers with allergies throughout the year as a bonus. You will have 2 pleasant months out of the year, maybe.
:shock: Tell us how you really feel.
:)

To be fair, one can cut out a nice pocket of their own paradise in any city, but I was just generalizing for the opp.
by 220volt
Tue Mar 15, 2022 11:04 am
Forum: Personal Consumer Issues
Topic: Denver vs Cincinnati
Replies: 160
Views: 13012

Re: Denver vs Cincinnati

If you ever been to De Moines, St Louis, Nashville, Louisville, Cleveland, Columbus, Indianapolis, Atlanta, or ANY of the cities in the mid-west, entire south and some Northeast, you’ve been to Cincinnati too. You’ve seen them all. Heartland is pretty homogenous and sterile. Unwalkable urban sprawls littered with stripmalls, huge parking lots, restaurant chains, highways straight through the heart of the city, dreary, gray, slushy and dull winters, hot humid summers with allergies throughout the year as a bonus. You will have 2 pleasant months out of the year, maybe. Even though Denver is not much better as far as the food scene goes (bunch of chains and generic restaurants), I vote Denver 100% on the account of international atmosphere, hu...
by 220volt
Fri Mar 11, 2022 8:09 am
Forum: Investing - Theory, News & General
Topic: End of year stock market
Replies: 8
Views: 925

Re: End of year stock market

I know for a fact that the market at the end of this year will be down, up or the same. You can take this to the bank.
by 220volt
Thu Mar 10, 2022 1:59 pm
Forum: Investing - Theory, News & General
Topic: Sell or hold? [Russia / Ukraine war]
Replies: 152
Views: 26668

Re: Sell or hold? [Russia / Ukraine war]

jokerr wrote: Thu Feb 24, 2022 2:44 am Hi,

As you all are aware war started today in Ukraine and looks like it is going to be a tough year.

Investing wise, i started investing 2.5 years ago and i reached a turnover of 25% within these two years.
Currently, after the stock market fall the last 1 month my portfolio is still at +12.5%.

Should i sell, (if not all at least a big amount of as still i am in +12.5% of my initial investment) my etf stocks and sit in cash so i can buy as well in the upcoming deep or do you think i should watch my portfolio goining minus..?

*My portfolio is almost all i have in assets. No real estate.
Stop looking at the market and your accounts and read a book.
by 220volt
Wed Mar 09, 2022 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: 3% withdrawal -?
Replies: 114
Views: 9230

Re: 3% withdrawal -?

I would:

1. Sell 2.3M home and get a nice low maintenance 1M condo in the same area. This will leave you 1.3M
2. Invest another 1M
3. Go nuts on 300K for several years.
by 220volt
Fri Feb 25, 2022 8:29 am
Forum: Investing - Theory, News & General
Topic: Taking Social Security at 62
Replies: 635
Views: 86076

Re: Taking Social Security at 62

JoeRetire wrote: Fri Feb 25, 2022 7:30 am
220volt wrote: Thu Feb 24, 2022 9:58 am There are good and bad argument for claiming at 62 and 70 and since we don't know when we are going to die it makes it even more difficult decision. Hence why I will personally take the middle ground and claim at 67 - 100%.
Isn't the middle ground 66? If you don't know when you will die, why would that lead you to start at 67?
Just trying to understand the thought process...
Because at 67 you get 100% SS. 66 is fine too. I wasn't trying to be 100% exact.
by 220volt
Thu Feb 24, 2022 9:58 am
Forum: Investing - Theory, News & General
Topic: Taking Social Security at 62
Replies: 635
Views: 86076

Re: Taking Social Security at 62

There are good and bad argument for claiming at 62 and 70 and since we don't know when we are going to die it makes it even more difficult decision. Hence why I will personally take the middle ground and claim at 67 - 100%.