Search found 876 matches

by MichCPA
Thu Feb 13, 2020 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Should I find a different job with a better commute?
Replies: 50
Views: 3472

Re: Should I find a different job with a better commute?

Fourth, the amount of 160k (which is more like 200k if you move from average COL to HCOL) jobs at 40/wk every week is pretty small. If you go from a 2,000 hr job to a 50hr wk job and then add commuting, you have added 895 hrs to your year and you are now spending 2,895 out of 5,840 available hours ...
by MichCPA
Thu Feb 13, 2020 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: Should I find a different job with a better commute?
Replies: 50
Views: 3472

Re: Should I find a different job with a better commute?

Fourth, the amount of 160k (which is more like 200k if you move from average COL to HCOL) jobs at 40/wk every week is pretty small. If you go from a 2,000 hr job to a 50hr wk job and then add commuting, you have added 895 hrs to your year and you are now spending 2,895 out of 5,840 available hours ...
by MichCPA
Thu Feb 13, 2020 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Which Credit Card to maximize value for $100K expense
Replies: 8
Views: 1385

Re: Which Credit Card to maximize value for $100K expense

IMO, if you have a travel card that gives progress toward status for higher spend (ex: Delta Reserve, Marriott Brilliant, Hyatt). That might be a decent option too IF you travel a ton.
by MichCPA
Thu Feb 13, 2020 5:15 pm
Forum: Investing - Theory, News & General
Topic: Zero Stocks In Retirement
Replies: 79
Views: 5949

Re: Zero Stocks In Retirement

I am retired at 68. We have zero stocks. No mortgage. A good LTC policy. 66,000 in HSA. About 50,000 in free travel rewards points. [...] If you thought the stock market was too volatile, I am not sure retiring on rewards points is really the answer. :D :D They are actually pretty stable. A mix of ...
by MichCPA
Thu Feb 13, 2020 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I find a different job with a better commute?
Replies: 50
Views: 3472

Re: Should I find a different job with a better commute?

Would I increase my commute from 60 minutes to 150 minutes per day in order to earn $150k instead of $80k? Yes, most definitely. Why? Assuming a 2,000 hour work year, if you're making $80k, that's $40/hr. If you add 375 hours for additional commuting and make $150k, that's $63.16/hr., a significant...
by MichCPA
Thu Feb 13, 2020 4:18 pm
Forum: Investing - Theory, News & General
Topic: Zero Stocks In Retirement
Replies: 79
Views: 5949

Re: Zero Stocks In Retirement

hoops777 wrote:
Thu Feb 13, 2020 4:11 pm
I am retired at 68. We have zero stocks. No mortgage. A good LTC policy. 66,000 in HSA. About 50,000 in free travel rewards points.
[...]
If you thought the stock market was too volatile, I am not sure retiring on rewards points is really the answer. :D
by MichCPA
Wed Feb 12, 2020 5:52 pm
Forum: Personal Investments
Topic: Fidelity ETF fees
Replies: 5
Views: 481

Re: Fidelity ETF fees

This is a one-time $20 per $1m. I think you would be fine with VTI and should spend your energy looking at tax efficiency way before this. ETA: The taxes you owed on FSKAX CG distributions would be about 3.5 cents per share per year averaging 2018 and 2019 levels and would cost you way more than thi...
by MichCPA
Wed Feb 12, 2020 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: I'm owed $393; client won't pay; what are my options?
Replies: 45
Views: 5436

Re: I'm owed $393; client won't pay; what are my options?

Small claims court is the answer to disputes of this nature. You file, and you present your evidence and the client responds. Typically there is a mediation required prior to the court date, and things may get settled there. In your case you are entitled to be reimburse filing fees and perhaps fees...
by MichCPA
Wed Feb 12, 2020 5:00 pm
Forum: Personal Investments
Topic: Roth 401k rollover rules
Replies: 2
Views: 260

Roth 401k rollover rules

I currently have a roth 401k and a traditional component as well which houses matches and my new contributions. When I last did a rollover I rolled both into my new roth and traditional 401k plans (better plans) and did not choose an IRA option due to the need to keep the backdoor Roth option open. ...
by MichCPA
Wed Feb 12, 2020 10:13 am
Forum: Personal Investments
Topic: Choosing brokerages - next-best after Schwab, Fidelity, Vanguard, TD Ameritrade
Replies: 50
Views: 4090

Re: Choosing brokerages - next-best after Schwab, Fidelity, Vanguard, TD Ameritrade

I can only think of disadvantages from having (presumably) more than three brokerages. I understand that having 401k's and HSAs doesn't yield you much choice, but how are you even going to properly report a wash sale if you own the security in 4 different places?The brokerage won't flag it for you, ...
by MichCPA
Wed Feb 12, 2020 10:06 am
Forum: Investing - Theory, News & General
Topic: Why are you holding bonds
Replies: 161
Views: 11668

Re: Why are you holding bonds

Because I don't want to take the chance of losing all of my wage income and 50% of my assets in withing 6-9 months.

Am I giving up some return? Absolutely. Does that mean that my decision is sub-optimal? Not necessarily.
by MichCPA
Wed Feb 12, 2020 9:49 am
Forum: Investing - Theory, News & General
Topic: Berkshire Annual Meeting in person
Replies: 41
Views: 3478

Re: Berkshire Annual Meeting in person

Berkshire is almost certain to out-perform the U.S. total stock market index in the next 10 years. No one knows! Warren Buffett has said as they get larger it is becoming increasingly difficult to out perform the S&P 500. It will be increasingly difficult to out-perform the S&P 500. That is true, b...
by MichCPA
Tue Feb 11, 2020 4:23 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Should I payoff my car loan" thread
Replies: 19
Views: 1178

Re: Another "Should I payoff my car loan" thread

I would invest the money as per my AA (with some small amount of cash in reserve) and not pay off the loan. Do you also support buying equites/investments on margin (which essentially is the same thing)? With around 100k in excess cash, why not use the bond allocation from the normal AA to pay the ...
by MichCPA
Tue Feb 11, 2020 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Another "Should I payoff my car loan" thread
Replies: 19
Views: 1178

Re: Another "Should I payoff my car loan" thread

We are at 2% or less all across the yield curve. Apply your asset allocation strategy to the excess cash and use the bond portion to pay off the loan. 4% post tax is a better use of cash than 2% pre tax.
by MichCPA
Fri Feb 07, 2020 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Intending to spend an HSA, still a good idea?
Replies: 21
Views: 827

Re: Intending to spend an HSA, still a good idea?

cdallas wrote:
Fri Feb 07, 2020 4:22 pm

We will be up to about $10K in an emergency fund in a couple months, so should be ok there. Our High Deductible is $6/family.
If you will have the EF in place why can't you then pivot and do both 403 and HSA by the end of the year? I would also plan based on OOP Max not just the deductible.
by MichCPA
Fri Feb 07, 2020 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Intending to spend an HSA, still a good idea?
Replies: 21
Views: 827

Re: Intending to spend an HSA, still a good idea?

Thanks! I thought it was still a good idea, but just wanted to be sure! I know using it as another source of savings is *better*, but we're getting there ;) We do qualify, we've had a HDHP for a few years now. Now off to find which HSA provider is best... Go to fidelity. their HSA are free and no c...
by MichCPA
Fri Feb 07, 2020 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Intending to spend an HSA, still a good idea?
Replies: 21
Views: 827

Re: Intending to spend an HSA, still a good idea?

Might be experts can guide you. My understanding is 403b and HSA are 2 different entity. One for retirement account and another on health saving account. They are not interlinked in my understanding and so you can contribute 7k in HSA without lowering 403b OP was saying they could not afford to max...
by MichCPA
Fri Feb 07, 2020 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Intending to spend an HSA, still a good idea?
Replies: 21
Views: 827

Re: Intending to spend an HSA, still a good idea?

Thanks! I thought it was still a good idea, but just wanted to be sure! I know using it as another source of savings is *better*, but we're getting there ;) We do qualify, we've had a HDHP for a few years now. Now off to find which HSA provider is best... Go to fidelity. their HSA are free and no c...
by MichCPA
Fri Feb 07, 2020 9:47 am
Forum: Personal Consumer Issues
Topic: Do you buy plastic bags for your home trash bins?
Replies: 99
Views: 7169

Re: Do you buy plastic bags for your home trash bins?

fru-gal wrote:
Thu Feb 06, 2020 5:53 pm
MichCPA wrote:
Thu Feb 06, 2020 5:43 pm
The correct answer is that you buy the scented trash bags so the house/apartment doesn't smell.
Scented trash bags guarantee that the house/apartment smells.
Touche, I guess I like vanilla or lavender better than rotting food though.
by MichCPA
Thu Feb 06, 2020 5:43 pm
Forum: Personal Consumer Issues
Topic: Do you buy plastic bags for your home trash bins?
Replies: 99
Views: 7169

Re: Do you buy plastic bags for your home trash bins?

The correct answer is that you buy the scented trash bags so the house/apartment doesn't smell.
by MichCPA
Thu Feb 06, 2020 2:34 pm
Forum: Personal Investments
Topic: I bought a house, what is my AA now?
Replies: 152
Views: 7923

Re: I bought a house, what is my AA now?

Yikes! I thought one of the major lessons from 07-09 was to NOT treat your house like an investable asset because it is very illiquid and that is never more true than when everyone tries to sell at once. I guess you just need to ask yourself. "Would I be willing to sell my house at a huge loss due t...
by MichCPA
Wed Feb 05, 2020 11:07 am
Forum: Investing - Theory, News & General
Topic: Those Who Want to Work Past 70
Replies: 25
Views: 2454

Re: Those Who Want to Work Past 70

IMO, planning to work past 70 and planning to HAVE to work past 70 are very different. I would recommend the former and be sure you could retire at 65. If you can work later that is a much easier adjustment than the other way around.
by MichCPA
Wed Feb 05, 2020 10:59 am
Forum: Personal Investments
Topic: Paralyzed by TSLA
Replies: 52
Views: 6258

Re: Paralyzed by TSLA

10% of your portfolio is too much for an individual stock. As far as taxes go, I normally look at my assets each year and calculate a deferred tax liability based on my unrealized gains and traditional portion of my 401k. If you calculate these numbers all along, it doesn't feel as much like you are...
by MichCPA
Wed Feb 05, 2020 10:19 am
Forum: Personal Consumer Issues
Topic: Would you drive without a spare tire?
Replies: 193
Views: 11285

Re: Would you drive without a spare tire?

averagedude wrote:
Tue Feb 04, 2020 5:55 pm
Having a flat tire is similar to other things in life such as speeding tickets, car accidents, ect.. You may go 25+ years and have none, or you may have 2 or 3 in a matter of months.
Wind shield chips need to be added to this list.
by MichCPA
Wed Feb 05, 2020 10:00 am
Forum: Personal Investments
Topic: My wife's Morgan Stanley Financial advisor passed at 44 years old
Replies: 21
Views: 4345

Re: My wife's Morgan Stanley Financial advisor passed at 44 years old

I had one year in my mid 50's when I went to three funerals of people that were about my age. None of them were real close to me but that does get your thinking. That helped me decide to retire as soon as I could. My wife's Morgan Stanley Financial advisor passed at 44 years old One of the often ov...
by MichCPA
Fri Jan 31, 2020 1:33 pm
Forum: Personal Consumer Issues
Topic: Amazon price gouging
Replies: 61
Views: 3886

Re: Amazon price gouging

tc101 wrote:
Fri Jan 31, 2020 1:23 pm
I go by Lowes and Target almost every day
Why?
Is it really that hard to believe that one could have these things on their work commute? I have three grocery stores( incl a Target) and a Lowe's on my 10 mile commute.
by MichCPA
Wed Jan 29, 2020 3:45 pm
Forum: Personal Consumer Issues
Topic: Not allowed to board American Airlines flight - Forced to buy second ticket for same flight - Help requested [UPDATED]
Replies: 125
Views: 16157

Re: Not allowed to board American Airlines flight - Forced to buy second ticket for same flight - Help requested

It would be a warm day in Nome before I fly AA again. We haven't had good experiences with AA. The majority of the flights that we or family members have booked through them over the last two years have been rescheduled, and not by a few minutes either: hours and, on one occasion, by a day. We aren...
by MichCPA
Thu Jan 23, 2020 3:44 pm
Forum: Personal Consumer Issues
Topic: Windows 7 end of support - Jan 14, 2020
Replies: 107
Views: 8864

Re: Windows 7 end of support - Jan 14, 2020

When W10 first came out it was horrible but apparently it got better. I have about 50 machines running Win10 and have not had any issues. Didn't have with 7 either. My desktop runs Win10 and it is quite stable. The only time I restart it is to install updates. Its really every other one that is bad...
by MichCPA
Thu Jan 23, 2020 2:23 pm
Forum: Personal Consumer Issues
Topic: Windows 7 end of support - Jan 14, 2020
Replies: 107
Views: 8864

Re: Windows 7 end of support - Jan 14, 2020

When W10 first came out it was horrible but apparently it got better. I have about 50 machines running Win10 and have not had any issues. Didn't have with 7 either. My desktop runs Win10 and it is quite stable. The only time I restart it is to install updates. Its really every other one that is bad...
by MichCPA
Thu Jan 23, 2020 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Two TurboTax Errors in Income Section Alone?
Replies: 10
Views: 867

Re: Two TurboTax Errors in Income Section Alone?

I'm just using it on their website for free and will do the option to pay once I'm ready to file. I didn't think the free version did itemized deductions. As far as I am aware, you need to pay up for that. Are you trying to say that the software is taking the standard (not itemized) even though it ...
by MichCPA
Thu Jan 23, 2020 11:44 am
Forum: Personal Consumer Issues
Topic: Subaru Outback engine stop/start
Replies: 94
Views: 5822

Re: Subaru Outback engine stop/start

My wife’s Porsche has that, and it’s disabled by going into Sport mode. My Tesla doesn’t have that feature 😁 It's not super uncommon, even my very plebeian Ford Escape can defeat auto start/stop with 'Sport' mode. The biggest issue for me is the loss (or partial loss) of heating / cooling power Aut...
by MichCPA
Thu Jan 23, 2020 11:31 am
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 445
Views: 69334

Re: Larry Swedroe says "Goodbye."

Message boards require thick skin. I belong to other types of boards which are a totally different subject matter and it's the same kind of thing. This forum is actually far more cordial. I belong to a strength training forum and you can only imagine. "This training system is the best way to train ...
by MichCPA
Fri Jan 17, 2020 11:25 am
Forum: Investing - Theory, News & General
Topic: Are Fidelity Zero Funds Underperforming or ...
Replies: 28
Views: 4867

Re: Are Fidelity Zero Funds Underperforming or ...

Zero funds started around August 4th, 2018. I bought FZROX with half of my total US market money. I held for a year. FZROX beat what became FSKAX when Fidelity eliminated their various classes and lowered the ERs. I sold the remaining FSKAX and now only invest in FZROX in accounts where its availab...
by MichCPA
Fri Jan 17, 2020 11:08 am
Forum: Investing - Theory, News & General
Topic: Isn’t Inflation Much Larger Than 2%?
Replies: 289
Views: 19204

Re: Isn’t Inflation Much Larger Than 2%?

5-10 percent (call it an average of 7.5%) means prices doubled since 2011. I cant think of much that's truly doubled in price since 2011. I can: -Health insurance premium (250/mo -> 500/mo for silver plan) -Rent (900/mo -> 1,800/mo for 1-BD) -Housing prices (400K -> 800K median) But I guess these a...
by MichCPA
Fri Jan 17, 2020 10:57 am
Forum: Personal Investments
Topic: HSA - Spend or Save?
Replies: 16
Views: 781

Re: HSA - Spend or Save?

The majority of Bogleheads should definitely save. For the average person it is less of a slam dunk. If you aren't able to get your full 401k match, fill up a Roth IRA and fill up your HSA, you should do both. The majority of Americans couldn't put 6k into a Roth, 3.5k into an HSA and go out and hit...
by MichCPA
Thu Jan 16, 2020 5:30 pm
Forum: Investing - Theory, News & General
Topic: S&P 2/3 'correction' - Hussman makes his case.
Replies: 58
Views: 6039

Re: S&P 2/3 'correction' - Hussman makes his case.

I think US stock prices are high and have been for some time, but not the the extent that our investment results resemble this over the past 15 years: http://i.imgur.com/rT32NTN.png :shock: It's trading at all-time low! Surely a buying signal! :P To be honest, it really took a ton of talent to lose...
by MichCPA
Tue Jan 14, 2020 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Daycare Provider Wants to Charge $20/week for Receipt
Replies: 145
Views: 9709

Re: Daycare Provider Wants to Charge $20/week for Receipt

How about paying by check and including a remark like the following in the memo "Childcare for Boy/Girl schutzk21 for January 2020 at Mrs Jones Childcare, 123 Main St, Anytown NY" That is probably not good enough for the FSA administrator. From a quick Google search Information necessary to file a ...
by MichCPA
Tue Jan 14, 2020 12:17 pm
Forum: Personal Investments
Topic: Financial Engines very aggressive recommendation
Replies: 22
Views: 1952

Re: Financial Engines very aggressive recommendation

Its not the way I would set it up and is slightly (not in a major way) more aggressive than I would be. The biggest issue I have is going super heavy in small and mid cap. The fixed income portion of the portfolio on most recommended glide paths doesn't significantly increase until about 50-55. If ...
by MichCPA
Tue Jan 14, 2020 12:03 pm
Forum: Personal Investments
Topic: Financial Engines very aggressive recommendation
Replies: 22
Views: 1952

Re: Financial Engines very aggressive recommendation

Its not the way I would set it up and is slightly (not in a major way) more aggressive than I would be. The biggest issue I have is going super heavy in small and mid cap. The fixed income portion of the portfolio on most recommended glide paths doesn't significantly increase until about 50-55. If y...
by MichCPA
Tue Jan 14, 2020 11:54 am
Forum: Personal Investments
Topic: IRA worth it given salary / income dynamics?
Replies: 18
Views: 1504

Re: IRA worth it given salary / income dynamics?

IMO, if the traditional IRAs are only at 11k, OP should bite the bullet and pay the few grand in taxes and go do the backdoor setup moving forward. Agreed 100%. One-time tax hit on the $11k allows $6k/yr (after-tax) into Roth which is unquestionably better than the same $6k/yr (after-tax) into taxa...
by MichCPA
Tue Jan 14, 2020 11:52 am
Forum: Personal Finance (Not Investing)
Topic: JPM Chase Reserve Card gets more expensive
Replies: 342
Views: 29286

Re: JPM Chase Reserve Card gets more expensive

I just want to confirm that the Chase Sapphire Preferred card (not the card in the subject title) will continue to be $95 and have primary rental car coverage...is that correct? Costco Citi has primary rental car coverage and it's free (costco member fee is $60) I'd double-check that. https://www.c...
by MichCPA
Mon Jan 13, 2020 11:30 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4647
Views: 897215

Re: What's Your Credit Card Rewards Strategy?

I wouldn't keep too many points sitting around for a long time. It is like holding on to third world currencies. Even if they offer a cash conversion inflation cuts into it. Trips I took many times on UAL for 60k miles now are typically 105k miles 2 years later. This^^, you should really have a tim...
by MichCPA
Mon Jan 13, 2020 11:13 am
Forum: Personal Investments
Topic: IRA worth it given salary / income dynamics?
Replies: 18
Views: 1504

Re: IRA worth it given salary / income dynamics?

IMO, if the traditional IRAs are only at 11k, OP should bite the bullet and pay the few grand in taxes and go do the backdoor setup moving forward.
by MichCPA
Mon Jan 06, 2020 5:28 pm
Forum: Personal Investments
Topic: Debt payoff
Replies: 102
Views: 6490

Re: Debt payoff

I'm just trying to show you by example of how using up an emergency fund to pay off very high interest credit card debt is in fact a good idea. Feel free to put in any value for this example that makes you understand the concept I am trying to convey. I also agreed with you that canceling the credi...
by MichCPA
Mon Jan 06, 2020 5:01 pm
Forum: Personal Investments
Topic: Debt payoff
Replies: 102
Views: 6490

Re: Debt payoff

Think of it this way: 1) High credit card debt is an emergency so treat it as such. 2) If you have for example $3k in an emergency fund and $2k in credit card debt paying 17% interest, it is in your best interest to just wipe out that debt. If for some reason you lose your job 2 months later, then ...
by MichCPA
Mon Jan 06, 2020 4:38 pm
Forum: Personal Investments
Topic: Debt payoff
Replies: 102
Views: 6490

Re: Debt payoff

I love Dave but disagree with him in the baby steps. I feel more comfortable with a much larger EF of 3-6 months. --> If my EF was only $1,000, as a homeowner with 2 young kids, I would not have been able to pay for multiple real life emergencies this past year. Secondly, I aggressively pay high in...
by MichCPA
Mon Jan 06, 2020 3:58 pm
Forum: Personal Investments
Topic: Debt payoff
Replies: 102
Views: 6490

Re: Debt payoff

I love Dave but disagree with him in the baby steps. I feel more comfortable with a much larger EF of 3-6 months. --> If my EF was only $1,000, as a homeowner with 2 young kids, I would not have been able to pay for multiple real life emergencies this past year. Secondly, I aggressively pay high in...
by MichCPA
Tue Dec 31, 2019 3:26 pm
Forum: Personal Consumer Issues
Topic: Apple iMac 2013? Replace with Fusion? Or all SSD? Security? Questions
Replies: 38
Views: 2806

Re: Apple iMac 2013? Replace with Fusion? Or all SSD? Security? Questions

SSD is the way to go, but I would do that in a newer computer.

Hybrid drives typically just speed up boot times.
by MichCPA
Tue Dec 31, 2019 11:59 am
Forum: Personal Finance (Not Investing)
Topic: SECURE Act - 529 Plans
Replies: 45
Views: 5891

Re: SECURE Act - 529 Plans

5. How do you think states will change their 529 plans with respect to state income taxes because an entire new way to avoid state taxes has been invented without the permission of the affected state governments? In most states, the deduction is for contributions. The question is whether a state's ...
by MichCPA
Wed Dec 18, 2019 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Is anyone here surviving without a credit card?
Replies: 85
Views: 4282

Re: Is anyone here surviving without a credit card?

The only people I know who don't have credit cards are: 1. People who have bad credit. 2. People who have been brainwashed by certain talk radio hosts (just Dave Ramsey) into thinking that credit cards are evil. (Edits to pt 2 are mine) Its really just Dave Ramsey. Someone like Clark Howard is much...