Search found 22 matches

by kevin99
Mon Oct 14, 2019 11:12 am
Forum: Personal Consumer Issues
Topic: How much do you spend on dry cleaning?
Replies: 27
Views: 1647

Re: How much do you spend on dry cleaning?

I spend $2 per shirt and $6 for slacks and jackets. Ends up costing me about $14 a month on average. I rarely have to dry clean my slacks or jackets though as my client meetings are becoming less and less formal. This isn't the cheapest option in my area but it's the most convenient. I used to just ...
by kevin99
Tue Sep 17, 2019 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1278

Re: How much house can we afford?

My thoughts are similar to Watty's. You can swing it. Might want to consider selling some of your taxable total stock market this year, and some next year to hopefully minimize tax impact when your wife is off work. If you put more cash down upfront you can always get a home equity line and have a ...
by kevin99
Tue Sep 17, 2019 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1278

Re: How much house can we afford?

Roth: ~20K depending on commissions <-- Please explain how you are contributing $20K to Roth; is some of it alredy included in 401k/403b Sorry, this is actually through a mega-backdoor roth through my employer and also through a regular backdoor roth. We contribute somewhere between 20-25K here. Re...
by kevin99
Tue Sep 17, 2019 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1278

Re: How much house can we afford?

I don’t get how a couple in late 30s has 1.4 mil in retirement making 200k income? There’s gotta be an inheritance in there. But to answer your question, you can comfortably afford a 500k house. Ha, sometimes I wonder the same thing. I've actually back tested the numbers multiple times in portfolio...
by kevin99
Tue Sep 17, 2019 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1278

Re: How much house can we afford?

Watty, thank you for all the detailed insights you gave here. 5 year old, new baby due in a few weeks I would wait to buy the next house until the baby is born and healthy and thing settle down. If the baby has even minor and temporary health issues that might mean that you need go down to one incom...
by kevin99
Tue Sep 17, 2019 11:04 am
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1278

Re: How much house can we afford?

I won't get into the minutia, but it seems to me you have a robust retirement account and are diligent about contributing to them, so I would not worry about the long term too much. You also have enough to put down 20% on any house in the range you are considering. To me it's about cash flow. You m...
by kevin99
Tue Sep 17, 2019 11:01 am
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1278

Re: How much house can we afford?

How does the potential mortgage PITI compare to your rent? Avoiding being house poor is all about cash flow. Rent for a comparable house would be about $3500. PITI for a 500K house would run us about the same, maybe a little less, ~$3000 + we would have to pay for any maintenance that would likely ...
by kevin99
Tue Sep 17, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: How much house can we afford?
Replies: 15
Views: 1278

How much house can we afford?

I'm back with another house affordability question. Out situation has changed a bit since my post last year so I wanted to reevaluate. https://www.bogleheads.org/forum/viewtopic.php?t=246204 Age: Me 38, Wife 37, 5 year old, new baby due in a few weeks ------------------------------------------------...
by kevin99
Tue Aug 20, 2019 11:25 am
Forum: Personal Investments
Topic: Should I convert my small IRA accounts to Roth to avoid pro-rata?
Replies: 10
Views: 928

Re: Should I convert my small IRA accounts to Roth to avoid pro-rata?

Last year (2018) I had a Fidelity rollover IRA with a few hundred in earnings from the mega-backdoor conversions I did. However, I brought that account balance to zero before the end of the year by moving the funds into my 401k. So on December 31st of 2018 all my balances across all IRAs were zero. ...
by kevin99
Mon Aug 19, 2019 8:52 pm
Forum: Personal Investments
Topic: Should I convert my small IRA accounts to Roth to avoid pro-rata?
Replies: 10
Views: 928

Re: Should I convert my small IRA accounts to Roth to avoid pro-rata?

Thank you all for your responses! I will definitely go ahead with the conversion to a Roth to keep things simple.
by kevin99
Mon Aug 19, 2019 2:17 pm
Forum: Personal Investments
Topic: Should I convert my small IRA accounts to Roth to avoid pro-rata?
Replies: 10
Views: 928

Should I convert my small IRA accounts to Roth to avoid pro-rata?

I have been using the backdoor and mega-backdoor Roth over the last couple years. For 2019, I have some very small earnings that have been placed in Rollover IRA accounts as I made conversions to my Roth. The amounts are 39 cents at Vanguard for and $4 in Fidelity. Last year I rolled in a few hundre...
by kevin99
Thu Jan 31, 2019 8:57 pm
Forum: Personal Finance (Not Investing)
Topic: How has your saving strategy changed over time?
Replies: 14
Views: 1417

Re: How has your saving strategy changed over time?

Decades ago we decided our savings rate and had that automatically deducted from paychecks into retirement and other accounts. The remainder went into checking and we gave ourselves permission to spend that like drunken sailors. We never worried about expenditures as long as they didn't consistentl...
by kevin99
Thu Jan 31, 2019 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: How has your saving strategy changed over time?
Replies: 14
Views: 1417

How has your saving strategy changed over time?

I have been saving/not spending my whole life (37 now) and it's started to tire me out a bit worrying about every small expenditure. I have somewhat changed my saving philosophy a bit to, as long as I meet my savings goals I try not to worry about each small expense. But old habits die hard and I am...
by kevin99
Fri Apr 06, 2018 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Can we afford new house(360-400k)?
Replies: 13
Views: 2133

Re: Can we afford new house(360-400k)?

Sorry if my previous post incorrectly implied that I was suggesting you rent out your current home upon buying the new home. Sell the current home and either use the equity and current savings for a downpayment or withold a portion for a rainy day fund given your volatile industry. Thanks for the c...
by kevin99
Fri Apr 06, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford new house(360-400k)?
Replies: 13
Views: 2133

Re: Can we afford new house(360-400k)?

We are currently in a terrible school district (one of the worst in the state) ...... Cash: ~92K High Yield Savings 1.7% APY (This is reserved for new house down payment in the next 6-12 ..... ...... Other Assets: House: ~230K market value (130K left on 15 year mortgage). Rental income potential: 1...
by kevin99
Fri Apr 06, 2018 12:23 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford new house(360-400k)?
Replies: 13
Views: 2133

Re: Can we afford new house(360-400k)?

So with a 300K loan on a 400K house at 4.5% for 30 years (vs 15 due to job instability) your PITI payment would be ~$2478/mo. Currently you are paying $2200/month or ~$278/mo less. Income is 165K before commissions, so payment would represent ~ 25% of take home pay. You have 160K in taxable and ~10...
by kevin99
Thu Apr 05, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Can we afford new house(360-400k)?
Replies: 13
Views: 2133

Can we afford new house(360-400k)?

I have been on this board for many years and have learned an invaluable amount from the Boglehead community. I have been having a hard time deciding how much we should budget for our next house and am hoping to get some advice from my fellow Bogleheads. My wife and I (and daughter) are looking to mo...
by kevin99
Tue Apr 03, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement and Social Security Questions for my Parents
Replies: 14
Views: 1980

Re: Retirement and Social Security Questions for my Parents

Is sequence of returns risk a concern for them, or can they avoid it if they keep their asset allocation somewhat conservative (~50 equites/50 fixed)? When looking at asset allocations I like to look at target date funds to see what they have. The Vanguard 2020 fund is 55% stocks and the 2015 fund ...
by kevin99
Tue Apr 03, 2018 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Retirement and Social Security Questions for my Parents
Replies: 14
Views: 1980

Re: Retirement and Social Security Questions for my Parents

Father's Investments: 401k/IRA: 630K Roth: 55K ----------------------------------------------------------------------- 3) My father will have to start RMDs next year. Does this affect their SS strategy? Has your dad been doing any Roth conversions while his income is low? This appears to be the las...
by kevin99
Tue Apr 03, 2018 12:20 am
Forum: Personal Finance (Not Investing)
Topic: Retirement and Social Security Questions for my Parents
Replies: 14
Views: 1980

Re: Retirement and Social Security Questions for my Parents

Your mom should make an appointment to go into the Social Security office and talk over what her options are. They likely will not give specific recommendations about what is best but I suspect that you are right and she should start her Social Security when she is 62. Father SS: 30K/year Father's ...
by kevin99
Mon Apr 02, 2018 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement and Social Security Questions for my Parents
Replies: 14
Views: 1980

Re: Retirement and Social Security Questions for my Parents

Father's Pension: 32.5K/year Joint and survivor? My thinking is that since my father is much older that my mother should just start her spousal SS as early as possible. If she waits too long and my father passes away then she gets nothing. Maybe. Obviously, the only way to know is to take a stab at...
by kevin99
Mon Apr 02, 2018 8:48 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement and Social Security Questions for my Parents
Replies: 14
Views: 1980

Retirement and Social Security Questions for my Parents

I'm hoping to get some advice from the BH community regarding my parent's retirement planning. My parents have both been retired for many years and my father is going to turn 70 this year. I'm trying to figure out when my mother should apply for spousal SS to maximize the benefit my parents receive....