Search found 293 matches

by oldfatguy
Fri Nov 15, 2019 9:07 am
Forum: Personal Consumer Issues
Topic: Bigger car for baby?
Replies: 62
Views: 2593

Re: Bigger car for baby?

I bought a new, bigger vehicle when my child was about a year old. In part, it was to have more space for all the "stuff" (e.g., the stroller did not fit in my trunk). But, my car was also 14 years old at the time, so it was about time for a new ride.
by oldfatguy
Thu Nov 14, 2019 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: FSA botched an overpayment repayment that can no longer be fixed; what are my options?
Replies: 5
Views: 434

Re: FSA botched an overpayment repayment that can no longer be fixed; what are my options?

I don't have any suggestions for what to do, but I am curious how your FSA reimbursed you for a prescription you never paid for. With my FSA, I have to make a claim for each and every expense to be reimbursed and upload documentation.
by oldfatguy
Thu Nov 14, 2019 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: adult child moving back
Replies: 31
Views: 4349

Re: adult child moving back

Thanks for all the great input. Quick replies: - Paying for community college here is not a hardship for me, but she needs to stay on track and not drop out with tuition/time lost. And I agree that we need to see about career path vs. wasting time and funds with no good job prospects. Is the CC adv...
by oldfatguy
Thu Nov 14, 2019 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Employer requesting increased travel
Replies: 36
Views: 2924

Re: Employer requesting increased travel

Lalamimi wrote:
Thu Nov 14, 2019 11:46 am
The new culture in jobs, is "you can't ask me to do that", not " yes, sir".
I don't think that's new at all, but if it was, it would be a positive development.
by oldfatguy
Thu Nov 14, 2019 10:02 am
Forum: Personal Finance (Not Investing)
Topic: too late for additional life insurance?
Replies: 12
Views: 975

Re: too late for additional life insurance?

Do you need life insurance? If so, how much for how long?
by oldfatguy
Wed Nov 13, 2019 8:08 pm
Forum: Personal Investments
Topic: Help! What do I do with my children's money?
Replies: 28
Views: 1816

Re: Help! What do I do with my children's money?

You can open multiple brokerage accounts in your name. You will have to pay dividends and capital gains taxes. For example, You could easily open three new taxable brokerage accounts at Fidelity. Rename each one Child 1, Child 2, Child 3. Then invest the money in Fidelity's Zero minimum funds. http...
by oldfatguy
Wed Nov 13, 2019 4:40 pm
Forum: Personal Investments
Topic: Help! What do I do with my children's money?
Replies: 28
Views: 1816

Re: Help! What do I do with my children's money?

Greetings, I have 3 children, ages 5, 7, 9. They have $2,000 - $3,000 - $4,000 respectively ... Another downside is that I lose all ownership once deposited. Your children own the money. You cannot lose ownership of it because it doesn't belong to you. If you put it in a UGMA account, you still hav...
by oldfatguy
Wed Nov 13, 2019 4:01 pm
Forum: Personal Consumer Issues
Topic: Undergrad major psychology
Replies: 9
Views: 685

Re: Undergrad major psychology

goru1 wrote:
Wed Nov 13, 2019 11:20 am
How is undergrad major psychology? I am asking this for a young girl.
How is it? It's fine.

What are you really trying to figure out?
by oldfatguy
Wed Nov 13, 2019 3:19 pm
Forum: Personal Finance (Not Investing)
Topic: Employer requesting increased travel
Replies: 36
Views: 2924

Re: Employer requesting increased travel

You can certainly try to negotiate something more favorable, but unless you are willing to quit (or be fired) I don't see how you have much leverage. Employers change job responsibilities all the time, and you either adapt or move on.
by oldfatguy
Wed Nov 13, 2019 10:25 am
Forum: Personal Investments
Topic: How to combine finances with your spouse? Recently married/early30s
Replies: 65
Views: 4027

Re: How to combine finances with your spouse? Recently married/early30s

There are many different ways to arrange your finances. As long as it is mutually agreeable between you and your spouse, do what works best for you and ignore all the naysayers who claim there is only one right way to do things. When I got married (in my early 20s), neither one of us had any assets ...
by oldfatguy
Fri Nov 08, 2019 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone track their actual pension benefit start date?
Replies: 51
Views: 2889

Re: Anyone track their actual pension benefit start date?

If you want to take the discussion to the theoretical point that we contributed toward those pensions because we worked, then fine. But, as pointless as this thread has become, that argument will make further discussion even more ridiculous. Why is that argument ridiculous? Do you think the employe...
by oldfatguy
Fri Nov 08, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Anyone track their actual pension benefit start date?
Replies: 51
Views: 2889

Re: Anyone track their actual pension benefit start date?

Every pension plan that I've ever heard of requires an employee contribution ... I'd take that a step further and suggest that all the contributions are employee contributions, regardless of how they are labeled or categorized, because they are part of the compensation received in exchange for labo...
by oldfatguy
Fri Nov 08, 2019 9:52 am
Forum: Personal Finance (Not Investing)
Topic: Anyone track their actual pension benefit start date?
Replies: 51
Views: 2889

Re: Anyone track their actual pension benefit start date?

Every pension plan that I've ever heard of requires an employee contribution ... I'd take that a step further and suggest that all the contributions are employee contributions, regardless of how they are labeled or categorized, because they are part of the compensation received in exchange for labo...
by oldfatguy
Wed Nov 06, 2019 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Crazy? S-corp renting your own property tax-free for 14 days?
Replies: 12
Views: 905

Re: Crazy? S-corp renting your own property tax-free for 14 days?

3. You must charge a fair "rent" for the property based on similar situations in the area. -My s-corp rents my own property from me for those 14 days at $1000 a day, which is for the use of the land/accommodation/ food for 5-6 people. I doubt very much that $1,000 a day is reasonable rent for campi...
by oldfatguy
Wed Nov 06, 2019 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Disability vs Term Life?
Replies: 19
Views: 981

Re: Disability vs Term Life?

I've looked at both and decided to have neither.
by oldfatguy
Wed Nov 06, 2019 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Health Insurance - HSA during birth year?
Replies: 27
Views: 1062

Re: Health Insurance - HSA during birth year?

Invest_Wisely wrote:
Wed Nov 06, 2019 11:07 am

I imagine most on this forum favor an high deductible HSA plan, ...
That depends on the specific numbers for each option available to you.
by oldfatguy
Tue Nov 05, 2019 4:22 pm
Forum: Personal Consumer Issues
Topic: Weddings - The good? The bad?
Replies: 47
Views: 4278

Re: Weddings - The good? The bad?

The worst weddings I've been to are all the ones that are outside. It's always too hot. All other weddings I've attended were also terrible, but at least climate controlled.
by oldfatguy
Mon Nov 04, 2019 10:22 am
Forum: Personal Investments
Topic: How much money is really needed in retirement?
Replies: 74
Views: 9165

Re: How much money is really needed in retirement?

justsomeguy2018 wrote:
Sun Nov 03, 2019 9:03 pm

I am 38 and my wife is my 34 and we have like $338k in retirement but are now at a point where we can put away at least $60k a year going forward.

I feel like we are behind the curve ...
You already have more saved than 90% of people in the US.
by oldfatguy
Fri Nov 01, 2019 1:56 pm
Forum: Personal Consumer Issues
Topic: Should I actually buy a new car ? (Seat Belt Deployed)
Replies: 45
Views: 3252

Re: Should I actually buy a new car ? (Seat Belt Deployed)

This is the most out there comment I have read in a long time. You just said that the vast majority of the world doesn't care about the safety of their child because they allow them to be transported in cars....... wild...... Lot easier to walk somewhere than cure cancer, but what do I know I would...
by oldfatguy
Fri Nov 01, 2019 11:57 am
Forum: Personal Consumer Issues
Topic: Should I actually buy a new car ? (Seat Belt Deployed)
Replies: 45
Views: 3252

Re: Should I actually buy a new car ? (Seat Belt Deployed)

If you care about safety of your child, don't drive (and don't own a pool). After 4 years old, cars are the number one cause of children deaths, before that it's drowning. Or ... make sure your child is always in a properly installed and adjusted car seat, and teach them how to swim. You can never ...
by oldfatguy
Fri Nov 01, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Why is money such a taboo topic?
Replies: 12
Views: 1150

Re: Why is money such a taboo topic?

PackersFan12 wrote:
Fri Nov 01, 2019 9:10 am
Seriously, why? Why are people so afraid and uncomfortable to talk about money?
Isn't the main point of this forum (and many others) to talk about money? :confused Most people I know talk about money all the time.
by oldfatguy
Fri Nov 01, 2019 9:36 am
Forum: Personal Consumer Issues
Topic: Should I actually buy a new car ? (Seat Belt Deployed)
Replies: 45
Views: 3252

Re: Should I actually buy a new car ? (Seat Belt Deployed)

If you care about safety of your child, don't drive (and don't own a pool). After 4 years old, cars are the number one cause of children deaths, before that it's drowning. Or ... make sure your child is always in a properly installed and adjusted car seat, and teach them how to swim. You can never ...
by oldfatguy
Fri Nov 01, 2019 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Email agreement differs from contract. Help with dispute in NY
Replies: 30
Views: 1688

Re: Email agreement differs from contract. Help with dispute in NY

But, if I can determine that I have decent enough legal recourse/leverage, then I might be able to stand firm without (or with less) fear than they might just say "never mind, goodbye". IANAL, but I do not think there would be any legal recourse in a situation like this. Regardless of what you nego...
by oldfatguy
Thu Oct 31, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: [Just got married] Looking for ways to cut down on my budget
Replies: 80
Views: 6415

Re: How do people live on an average household income of 60K? Looking for ways to cut down on my budget

wonder how people with much less income than me get by, but then again I used to make a lot less and saved just as much. Maybe lifestyle inflation caught up to me even though I don't feel like I am living extravagantly either. Those with much less income than you spend a lot less on taxes, savings,...
by oldfatguy
Thu Oct 31, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Accumulate Annual Gift??
Replies: 8
Views: 622

Re: Accumulate Annual Gift??

It isn't a gift yet as long as it is in your name.
by oldfatguy
Thu Oct 31, 2019 8:04 am
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

DW and I have 3 daughters (8, 12, 16) :shock: We haven't really talked about it yet, but I can see giving them a fixed amount - say in the $10,000 - $15,000 range, and let them use as they want (wedding, toward a house down payment, investing, etc). I'm curious about this idea, which others have su...
by oldfatguy
Wed Oct 30, 2019 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Do I Have a Crummy Local Government Pension?
Replies: 51
Views: 4111

Re: Do I Have a Crummy Local Government Pension?

If you are only working part of your career in a pension job, the math works out much better if the pension job comes at the end of your career than at the beginning. That's just a fact of life and the result of two factors: (1) inflation, and (2) compound returns. This is good thinking and why I f...
by oldfatguy
Wed Oct 30, 2019 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Do I Have a Crummy Local Government Pension?
Replies: 51
Views: 4111

Re: Do I Have a Crummy Local Government Pension?

A 15.75% match is very generous, but I would worry about the 62% funded rate causing a future haircut (could be explicit or implicit as the benefits is inflated away without a COLA (especially if coupled with losing SS). If a lump sum is allowed, you can always compare a SIPA vs pension at the time...
by oldfatguy
Wed Oct 30, 2019 9:56 am
Forum: Personal Finance (Not Investing)
Topic: Do I Have a Crummy Local Government Pension?
Replies: 51
Views: 4111

Re: Do I Have a Crummy Local Government Pension?

Technically, yes 25% of my salary is being saved, but it just doesn't feel like I'm going to end up with a payout worthy of 25 years of 25% contributions. You may not, if you are projecting what average investment returns over that time would be. On the other hand, the pension provides you with muc...
by oldfatguy
Tue Oct 29, 2019 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: Do I Have a Crummy Local Government Pension?
Replies: 51
Views: 4111

Re: Do I Have a Crummy Local Government Pension?

A 15.75% match is very generous, but I would worry about the 62% funded rate causing a future haircut (could be explicit or implicit as the benefits is inflated away without a COLA (especially if coupled with losing SS). If a lump sum is allowed, you can always compare a SIPA vs pension at the time...
by oldfatguy
Tue Oct 29, 2019 1:24 pm
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

But the point is that emotions can get in the way when the time comes, even for the most Vulcan-like among us. I think we are seeing 2 fundamentally different views of weddings in this thread. #1 - The more "traditional" view of weddings as something a parent is obligated (or privileged) to provide...
by oldfatguy
Tue Oct 29, 2019 12:27 pm
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

DW and I have 3 daughters (8, 12, 16) :shock: We haven't really talked about it yet, but I can see giving them a fixed amount - say in the $10,000 - $15,000 range, and let them use as they want (wedding, toward a house down payment, investing, etc). I'm curious about this idea, which others have su...
by oldfatguy
Tue Oct 29, 2019 12:11 pm
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

A lot of people who claim they will pay zero may have different thoughts when they are actually in the situation of having a child getting married. why is that? I've seen many people cave and spend what they promised themselves they wouldn't when their sweet doe-eyed daughter asks. But not their bu...
by oldfatguy
Tue Oct 29, 2019 12:05 pm
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

alfaspider wrote:
Tue Oct 29, 2019 11:28 am

A lot of people who claim they will pay zero may have different thoughts when they are actually in the situation of having a child getting married.
why is that?
by oldfatguy
Tue Oct 29, 2019 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Do I Have a Crummy Local Government Pension?
Replies: 51
Views: 4111

Re: Do I Have a Crummy Local Government Pension?

The benefit you describe isn't much different from my state pension, though my formula gets reduced for any age under 65, and you and your employer are paying a higher percentage into the fund - ours is adjusted each year, but amounts to 13-15% total.
by oldfatguy
Tue Oct 29, 2019 8:01 am
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

Pigeon wrote:
Tue Oct 29, 2019 7:18 am
I sincerely hope those who are contributing zero dollars also expect to have zero input on any and all of the wedding plans and guest list.
Of course. Why would I expect to have any input on someone else's event?
by oldfatguy
Mon Oct 28, 2019 9:22 pm
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

unclescrooge wrote:
Mon Oct 28, 2019 9:09 pm
KlangFool wrote:
Mon Oct 28, 2019 9:31 am
oldfatguy wrote:
Mon Oct 28, 2019 9:04 am
I plan on spending $0 for a wedding.
+1,000.

KlangFool
So I'm assuming neither the Mom nor the Dad gets to invite any of their friends?
If my daughter has a wedding, it will be up to her who to invite. I certainly wouldn't have anyone to add to the guest list.
by oldfatguy
Mon Oct 28, 2019 12:28 pm
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8808

Re: How much do you plan to spend on your children's weddings?

That actually raises an interesting question that hadn’t occurred to me before. We gift our kids the annual gift tax exclusion annually. If we pay for a wedding, is that excluded (ie, can my wife and I gift $30k plus wedding)? Good question. It seems to me that it depends on who is actually hosting...
by oldfatguy
Sun Oct 27, 2019 9:28 pm
Forum: Personal Consumer Issues
Topic: Fish Boil in Sturgeon Bay WI
Replies: 9
Views: 844

Re: Fish Boil in Sturgeon Bay WI

Another recommendation for White Gull
by oldfatguy
Sat Oct 26, 2019 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: How much does a "good school district" matter?
Replies: 76
Views: 6603

Re: How much does a "good school district" matter?

School ratings/rankings correlate to household income. That's pretty much all they tell you.
by oldfatguy
Fri Oct 25, 2019 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Debating getting a W2 vs 1099 for my contract work
Replies: 33
Views: 1168

Re: Debating getting a W2 vs 1099 for my contract work

So if an company gives you W2, where you're an employee, what does that mean concerning benefits like Health Insurance, time off, etc....? Does getting a W2 go hand in hand with them needing to give you benefits? Under the ACA there are requirements for employers of a certain size (over 50, IIRC) t...
by oldfatguy
Fri Oct 25, 2019 11:43 am
Forum: Personal Finance (Not Investing)
Topic: divorce and dependent care FSA
Replies: 7
Views: 517

Re: divorce and dependent care FSA

Thanks for confirming the advice I had given her on both points. She would potentially be adding the child either during open enrollment or else upon the loss of Medicaid or CHIP coverage. The Medicaid/CHIP would be lost due to the tax defined custodial parent changing from 2019 to 2020. The father...
by oldfatguy
Fri Oct 25, 2019 10:26 am
Forum: Personal Finance (Not Investing)
Topic: divorce and dependent care FSA
Replies: 7
Views: 517

Re: divorce and dependent care FSA

Thanks for confirming the advice I had given her on both points. She would potentially be adding the child either during open enrollment or else upon the loss of Medicaid or CHIP coverage. The Medicaid/CHIP would be lost due to the tax defined custodial parent changing from 2019 to 2020. The father...
by oldfatguy
Fri Oct 25, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Do you plan to actually spend down your portfolio?
Replies: 104
Views: 9726

Re: Do you plan to actually spend down your portfolio?

The majority of my assets will be annuitized, so I guess that means it will be zeroed out when I die.
by oldfatguy
Fri Oct 25, 2019 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Who does your tax returns?
Replies: 103
Views: 5182

Re: Who does your tax returns?

I do it myself with Free Fillable Forms. I prefer to work though the instructions for the various forms rather than pay for software or a professional. Same here. I've tried free software a couple of times, and always gave up part way through it. The questions were cumbersome and poorly worded.
by oldfatguy
Thu Oct 24, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Part time job (20h/wk) - how to shield income from taxes?
Replies: 36
Views: 2296

Re: Part time job (20h/wk) - how to shield income from taxes?

I've never held a part-time job and had no idea what a 1099 is. A 1099 is issued to an independent contractor (self-employed). The IRS has criteria to determine if a worker is an employee or an independent contractor. https://www.irs.gov/newsroom/understanding-employee-vs-contractor-designation
by oldfatguy
Wed Oct 23, 2019 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching Resources?
Replies: 17
Views: 850

Re: Teaching Resources?

Was the school actually sponsoring the event, or was it merely taking place at the school building?
by oldfatguy
Tue Oct 22, 2019 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA for Independent Undergrad
Replies: 12
Views: 935

Re: FAFSA for Independent Undergrad

RetiredCSProf wrote:
Tue Oct 22, 2019 6:36 pm
I called FAFSA. I may call again to see if I get the same answer twice, as the answer sounded confusing to me.
Why are you making calls and posting about this? The FAFSA is supposed to be completed by the student.