Search found 182 matches

by jacksonm
Wed Sep 25, 2019 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on affordability of 1.2mm home
Replies: 5
Views: 1018

Re: Advice on affordability of 1.2mm home

This kind of question gets asked a lot here and I'm always curious about what it is that the poster really wants to hear. As a couple making 400k/year I'm pretty sure you are capable of doing the math to determine whether or not you can afford the house. And there are online calculators to help. If ...
by jacksonm
Sun Sep 22, 2019 5:19 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes for selling gold coins
Replies: 54
Views: 3116

Re: Paying taxes for selling gold coins

Tell me why you disagree. Are you saying he doesn’t have to report the gain when he sells the coins? Also, are you still searching for “someone more knowledgeable “? Gill Would you care to advise him about how to calculate his gain should he advise to report it on his taxes? What is his cost basis ...
by jacksonm
Sun Sep 22, 2019 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes for selling gold coins
Replies: 54
Views: 3116

Re: Paying taxes for selling gold coins

This has gone off track. OP asked if he must pay tax on the sale of gold coins. The answer is clearly yes. Gill I disagree, both that this has gone off track and that the OP needs to pay tax on the sale of his gold coins gifted from his parents. Hopefully someone more knowledgeable will chime in. T...
by jacksonm
Sun Sep 22, 2019 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes for selling gold coins
Replies: 54
Views: 3116

Re: Paying taxes for selling gold coins

This has gone off track. OP asked if he must pay tax on the sale of gold coins. The answer is clearly yes. Gill I disagree, both that this has gone off track and that the OP needs to pay tax on the sale of his gold coins gifted from his parents. Hopefully someone more knowledgeable will chime in. T...
by jacksonm
Sun Sep 22, 2019 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes for selling gold coins
Replies: 54
Views: 3116

Re: Paying taxes for selling gold coins

This has gone off track. OP asked if he must pay tax on the sale of gold coins. The answer is clearly yes. Gill I disagree, both that this has gone off track and that the OP needs to pay tax on the sale of his gold coins gifted from his parents. Hopefully someone more knowledgeable will chime in.
by jacksonm
Sun Sep 22, 2019 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes for selling gold coins
Replies: 54
Views: 3116

Re: Paying taxes for selling gold coins

I'll let others chime in to explain if their is any exception to the requirement to report your gain. Beware, you appear to be attempting to structure your transaction(s) to avoid U.S. Bank Secrecy Act reporting - the act of structuring is illegal. I don't think he would be doing anything illegal. ...
by jacksonm
Sun Sep 22, 2019 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Paying taxes for selling gold coins
Replies: 54
Views: 3116

Re: Paying taxes for selling gold coins

I don't think you will have any tax liability if you simply declare the cash as a gift from your parents. I believe the current limit on gifts is $12k. I don't think the gold dealer is even required to report the transaction to the IRS. And if he cuts you a check I'm not even sure that will be repor...
by jacksonm
Sat Sep 21, 2019 11:20 am
Forum: Personal Investments
Topic: Roth IRA - Contributing too much too soon? (21 y/o)
Replies: 25
Views: 2124

Re: Roth IRA - Contributing too much too soon? (21 y/o)

I only wish Roth IRA's had been invented earlier and that they hadn't been so restrictive on income limits in the beginning.

I've been maxing out for both me and my wife since finally gaining access. And I'm already retired, BTW.
by jacksonm
Mon Sep 09, 2019 2:45 pm
Forum: Personal Consumer Issues
Topic: Visit to Tokyo
Replies: 17
Views: 1858

Re: Visit to Tokyo

Did the robot restaurant in Shinjuku one evening. It wasn't actually a restaurant and there weren't actually robots but it was kind of interesting if overpriced. Located in a seedy part of Tokyo, IMO. My granddaughter and I were both approached by some rather aggressive individuals (not Japanese, B...
by jacksonm
Mon Sep 09, 2019 1:01 pm
Forum: Personal Consumer Issues
Topic: Visit to Tokyo
Replies: 17
Views: 1858

Re: Visit to Tokyo

Just returned from Tokyo and still getting over jet lag. Favorite place was probably Sensō-ji temple area in Asakusa. The government building has a nice view of the city for free as some others have pointed out. My wife and granddaughter enjoyed the Don Quijote and Daisa stores. The Emperor's Palace...
by jacksonm
Tue Aug 20, 2019 9:15 pm
Forum: Personal Consumer Issues
Topic: Anyone disenchanted with retirement?
Replies: 306
Views: 44716

Re: Anyone disenchanted with retirement?

Retired 3 years. The only thing I really miss is, being good at what I did, I don't have anything to stroke my ego. But I'm learning to cope with that.
by jacksonm
Tue Aug 13, 2019 3:23 pm
Forum: Personal Investments
Topic: Laid off - 59yo - advice please
Replies: 44
Views: 6973

Re: Laid off - 59yo - advice please

Single, no kids, no debt, don't own a house. I live in California. It would have helped if you added up the figures for us so we didn't have to. But I figure it's around $650k. My parents retired on around $300k and lived well. My Dad was around the same age as you. 4% SWR + $10-$15k from freelanci...
by jacksonm
Fri Aug 09, 2019 11:27 am
Forum: Personal Consumer Issues
Topic: Budget Rental Cars Left Me Stranded--Prevention ?
Replies: 42
Views: 2656

Re: Budget Rental Cars Left Me Stranded--Prevention ?

In my opinion Budget is one of the worst to deal with. My small company uses them because they provide the best price, but we don't like them. Their supposed FastBreak service is a scam, they almost never have the car ready and we have to wait in line at the counter. The quality of the cars is low;...
by jacksonm
Thu Aug 08, 2019 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Dept Outsourced - Job Worries - Need your Advises
Replies: 69
Views: 6919

Re: Dept Outsourced - Job Worries - Need your Advises

My sympathies. In my more than 40 year career as a programmer I went from making $1k a day as an independent contractor to being replaced by a $15/hr programmer in India at the end of my career. Sorry I don't have any advice or encouragement to offer except maybe you need to find a career less susce...
by jacksonm
Thu Aug 08, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Any corp programmers make the jump to remote/contract?
Replies: 5
Views: 517

Re: Any corp programmers make the jump to remote/contract?

I was a programmer for over 40 years and an independent consultant for about 10 of those. Made the most money I ever made during the consultant years but I'm not sure if that's even possible today. Does anybody pay $1k a day for good programmers any more? Too much competition both foreign and domest...
by jacksonm
Thu Aug 08, 2019 5:36 pm
Forum: Investing - Theory, News & General
Topic: First 20% of bonds in long-term Treasuries
Replies: 290
Views: 19154

Re: First 20% of bonds in long-term Treasuries

The entire amount of my bond allocation is in long term treasuries because that's what the Permanent Portfolio strategy calls for as deflation protection.

It hasn't always been smooth sailing but it's actually looking better than ever right now so I have no regrets.
by jacksonm
Tue Aug 06, 2019 3:08 pm
Forum: Personal Investments
Topic: Rebalancing Question
Replies: 8
Views: 697

Re: Rebalancing Question

Do they have target date funds?

I would go with that if they do and let them do the re-balancing for you. That's if the fees aren't too high, of course.
by jacksonm
Tue Aug 06, 2019 12:26 pm
Forum: Personal Consumer Issues
Topic: Advice on short Vietnam visit
Replies: 30
Views: 2215

Re: Advice on short Vietnam visit

I've always wanted to take the Mekong River cruise all the way up to Angkor Wat in Cambodia. That would basically be retracing the route I took during my all expenses paid trip from Uncle Sam in 1969. Would be doing it in about two weeks except that my daughter is going with me and prefers Japan. So...
by jacksonm
Tue Aug 06, 2019 12:00 pm
Forum: Personal Investments
Topic: 401K question
Replies: 4
Views: 322

Re: 401K question

The company I retired from offered in-service rollovers after age 59 1/2 and I took advantage of it on several occasions as my 401k grew while maxing out contributions. It was a very simple matter with no tax consequences and Fidelity did all the paperwork. I also did it because I wanted a more cons...
by jacksonm
Sat Aug 03, 2019 12:41 pm
Forum: Personal Consumer Issues
Topic: Dentist: Is this acceptable?
Replies: 63
Views: 5045

Re: Dentist: Is this acceptable?

The last two times my mother was at her dentist for a cleaning he was not there to examine her. The receptionist said he was spending time with this family. This is two times in a row he has not been there. Isn't the dentist supposed to examine the teeth after a cleaning? I find this unacceptable. ...
by jacksonm
Fri Jul 26, 2019 2:58 pm
Forum: Personal Investments
Topic: Laid Off - Want to Retire / Am I OK
Replies: 145
Views: 19040

Re: Laid Off - Want to Retire / Am I OK

I suspect that the average person reading this forum will find it almost laughable that you are trying to decide whether $4 million is enough to retire on. Of course you can retire if that's what you want to do. I think the real question you are asking is whether you can retire without having to dow...
by jacksonm
Mon Jul 22, 2019 5:40 pm
Forum: Personal Consumer Issues
Topic: New house... need to buy fridge and washer & dryer
Replies: 44
Views: 3516

Re: New house... need to buy fridge and washer & dryer

Sounds like a reasonable budget for these appliances. You'll get good but not top of the line, which is fine for me. After a certain price point you are just getting fancy features which you really won't care about in the course of time. As for where to buy, I don't think it really matters one bit a...
by jacksonm
Sat Jul 20, 2019 11:31 am
Forum: Personal Consumer Issues
Topic: My 2017 CRV is a victim of the dreaded oil gas-dilution issue
Replies: 1125
Views: 168050

Re: My 2017 CRV is a victim of the dreaded oil gas-dilution issue

Recently received a letter from Honda acknowledging the problem in some cars and extending the warranty period.

I've had no hint of it myself on my 2018 model but I'm glad to hear they did that.
by jacksonm
Tue Jul 02, 2019 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Question of integrity
Replies: 40
Views: 4012

Re: Question of integrity

I have seen people do this many times and it never struck me as lacking integrity.

I've also seen people laid off shortly after starting a new job - mostly because of "offshoring".

Your company's primary loyalty is to the bottom line and you are completely justified in viewing it the same way.
by jacksonm
Tue Jul 02, 2019 7:18 am
Forum: Personal Finance (Not Investing)
Topic: Big Hospital Bill - Any way to negotiate ?
Replies: 130
Views: 8342

Re: Big Hospital Bill - Anyway to negociate ?

On my last job before I retired our benefit package included a service with a company that was in the business of negotiating medical bills. The service was free - they made their money by taking a percentage of the savings. I don't remember the name of the company but I believe it was available to ...
by jacksonm
Fri Jun 21, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Does Fidelity monitor log in locations?
Replies: 6
Views: 991

Re: Does Fidelity monitor log in locations?

Yes, I've logged into Fidelity from foreign countries too with no problem. I've always done it with a known computer however and I always make sure I login with that computer before I leave so they will recognize it. I'm not sure if Fidelity requires further authentication when you login with an unr...
by jacksonm
Sun Jun 16, 2019 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: With hindsight, what signs indicated you were about to lose your job?
Replies: 127
Views: 12674

Re: With hindsight, what signs indicated you were about to lose your job?

My boss called me aside after a meeting to ask when I was planning on retiring. I was 66 at the time and told him I thought I wanted to work for at least another year and possibly two. I didn't pick up on it at the time but apparently staff reductions were in the works and that's why he was asking. ...
by jacksonm
Sat Jun 15, 2019 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Do not use Personal Capital
Replies: 100
Views: 17495

Re: Do not use Personal Capital

I use PC and don't mind that they have access to all of my data. That is the whole point. I have to put the salesman off every year or two but it isn't that hard. In regards to the danger of giving them your login credentials, it may be true that they don't store passwords in clear text and that th...
by jacksonm
Sat Jun 15, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: Do not use Personal Capital
Replies: 100
Views: 17495

Re: Do not use Personal Capital

I use PC and don't mind that they have access to all of my data. That is the whole point. I have to put the salesman off every year or two but it isn't that hard. In regards to the danger of giving them your login credentials, it may be true that they don't store passwords in clear text and that the...
by jacksonm
Thu Jun 13, 2019 12:51 pm
Forum: Personal Consumer Issues
Topic: Fishing rod/reel combo recommendation
Replies: 10
Views: 595

Re: Fishing rod recommendation

Any Walmart will have a Shakespeare Ugly Stick rod/reel combo for around 40$. Indestructible rods. Buy a six pack with what's left over. I second this. I bought a combo rod/reel on sale at Gander Mountain for about $80 two years ago when I retired and decided to try my hand at fishing. When I went ...
by jacksonm
Tue Jun 11, 2019 4:06 pm
Forum: Personal Investments
Topic: Looking for Advice on the first $50,000
Replies: 7
Views: 793

Re: Looking for Advice on the first $50,000

Questions 1. I know the markets are high right now so should I still go ahead and put the $52,000 into the market right now, wait a bit, or put in a little at a time? Maybe wait until a sell-off like we've been seeing recently and then go for it? With an election coming up and all the trade war stu...
by jacksonm
Tue Jun 11, 2019 3:37 pm
Forum: Personal Investments
Topic: How does trading treasuries from secondary work at Fidelity?
Replies: 1
Views: 284

Re: How does trading treasuries from secondary work at Fidelity?

Don't really understand what you are trying to do.

I buy T-Bills on Fidelity all the time and it's a very simple process. Don't remember what Order Type I select from the drop-down list, probably "market" but it gets filled almost immediately.
by jacksonm
Mon Jun 10, 2019 3:03 pm
Forum: Personal Consumer Issues
Topic: Do you drive old cars for long distance travels?
Replies: 105
Views: 7597

Re: Do you drive old cars for long distance travels?

Just returned from a trip to New Orleans and back (from Tampa) in my 2006 Dodge Caravan with about 130k miles on it. Was a good test for the cracked engine block I fixed with some liquid stuff at the auto parts store. No problems at all. Also, I have driven all the way to Alaska and back with the c...
by jacksonm
Sun Jun 09, 2019 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Checks without my account number
Replies: 39
Views: 4139

Re: Checks without my account number

For security, the ideal checking account would never disclose my account number. When payment by check is necessary, each check would be printed with a unique transaction number instead of my account number. The checks would be printed and sent as needed by an online bill paying service, or I would...
by jacksonm
Sat Jun 08, 2019 9:05 pm
Forum: Investing - Theory, News & General
Topic: The impact of Baby Boomers on the Future of U.S. Stocks
Replies: 41
Views: 5577

Re: The impact of Baby Boomers on the Future of U.S. Stocks

Harry Dent was (is) big on demographics and I remember seeing ads where he was predicting that the retirement of the Baby Boomers would lead to the next great depression - for reasons you cited and also because they would be consuming less in their retirement years. Well, the Baby Boomers are now re...
by jacksonm
Fri Jun 07, 2019 10:32 am
Forum: Investing - Theory, News & General
Topic: Social Security Question
Replies: 15
Views: 1282

Re: Social Security Question

I get my first check next month @70 and no it didn't affect my decision to delay. If I had known for sure there would be a reduction of 25% on a particular date it might have affected my decision but alas, it is just a prediction like everything else.
by jacksonm
Mon Jun 03, 2019 11:42 am
Forum: Personal Consumer Issues
Topic: Do you drive old cars for long distance travels?
Replies: 105
Views: 7597

Re: Do you drive old cars for long distance travels?

Just returned from a trip to New Orleans and back (from Tampa) in my 2006 Dodge Caravan with about 130k miles on it. Was a good test for the cracked engine block I fixed with some liquid stuff at the auto parts store. No problems at all. Also, I have driven all the way to Alaska and back with the ch...
by jacksonm
Mon Jun 03, 2019 7:13 am
Forum: Investing - Theory, News & General
Topic: You May Never See Your Grandchildren Again
Replies: 83
Views: 14802

Re: You May Never See Your Grandchildren Again

On an even more depressing note, most of the invitations for free dinners I've been getting lately are being offered for long term care facilities, hearing aids, and burial plots.

All I can say is that I'm only turning 70 this week and the rumors of my pending demise are greatly exaggerated.
by jacksonm
Sat Jun 01, 2019 12:47 pm
Forum: Investing - Theory, News & General
Topic: How did you all do in the month of May, 2019
Replies: 126
Views: 10867

Re: How did you all do in the month of May, 2019

Entire portfolio is mostly unchanged but SEP-IRA had what was probably it's biggest one day gain ever on Friday. As a part of my overall Permanent Portfolio strategy, it's mostly made up of Long Term Treasuries along with a gold ETF and a little bit of stock.
by jacksonm
Wed May 29, 2019 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Putting off Social Security until 70
Replies: 106
Views: 14750

Re: Putting off Social Security until 70

Thankfully, when it came time for me to make this decision it was a pretty easy one. Wife is 17 years younger, still working, and her income gives us a positive cash flow even without SS. In excellent health at FRA, Dad lived to 93, Mom died this year at 98. Grandparents to 94 and 100. So delaying s...
by jacksonm
Thu May 23, 2019 10:36 am
Forum: Personal Finance (Not Investing)
Topic: I evaluated taking SS at age 62 versus age 70
Replies: 67
Views: 5347

Re: I evaluated taking SS at age 62 versus age 70

Before I retired I wrote my own computer program to calculate the best strategy, not between age 62 and 70 but my FRA (66) and 70. The results consistently showed a larger portfolio at my predicted end of life by going with the earlier option. So what did I do? I delayed until age 70 and will be get...
by jacksonm
Wed May 22, 2019 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: I evaluated taking SS at age 62 versus age 70
Replies: 67
Views: 5347

Re: I evaluated taking SS at age 62 versus age 70

sreynard wrote:
Wed May 22, 2019 9:50 am
I always wonder about the purpose of these posts. The OP already knows what they should do and they already know what they are going to do. So why post about it? Looking for confirmation bias?
Maybe they were just trying to start a conversation.
by jacksonm
Wed May 22, 2019 8:52 am
Forum: Personal Finance (Not Investing)
Topic: I evaluated taking SS at age 62 versus age 70
Replies: 67
Views: 5347

Re: I evaluated taking SS at age 62 versus age 70

With 78 million dollars, why do you give a rip? They don't have 78 million. Firecalc says that's the max they will end up with based on all factors involved in the calculations. Still, must be a pretty decent portfolio already to be able to potentially grow to that amount. Don't know why you wouldn...
by jacksonm
Thu May 09, 2019 6:08 pm
Forum: Personal Investments
Topic: Turning 65 (And I really think I'd like to retire some day)
Replies: 14
Views: 2457

Re: Turning 65 (And I really think I'd like to retire some day)

I could also attempt to sell my business in the next year or so, which is owner-operated. Not counting on it getting sold but since I have that asset, might as well see about the chance to cash it out. After my mortgage is paid in early 2020, annual living expenses should be $51,000. House value is...
by jacksonm
Mon May 06, 2019 11:04 am
Forum: Personal Investments
Topic: At 28, I Don't See How I Can Make Any Projections for My Retirement Amount or Age?
Replies: 83
Views: 6762

Re: At 28, I Don't See How I Can Make Any Projections for My Retirement Amount or Age?

My engineering professor said. “In anything a plan is essential but often useless” Didn’t understand that until later in life. We had that quote up on the whiteboard when I worked in an R&D department developing software. It was actually attributed to Dwight Eisenhower. Another one right beside it,...
by jacksonm
Sun Apr 28, 2019 11:43 am
Forum: Personal Consumer Issues
Topic: Hybrid Rental
Replies: 21
Views: 1591

Re: Hybrid Rental

I rented a Prius in Seattle a couple of years ago when it was offered to me as an upgrade to what I had originally booked. There was an increase in cost but the agent assured me we would make up for it in gas savings. I never did the math but I believe the agent was full of poop on the gas savings. ...
by jacksonm
Thu Apr 25, 2019 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Lifestyle creep
Replies: 73
Views: 7935

Re: Lifestyle creep

Amazon.com probably represents my biggest threat for lifestyle creep. Just sit in front of your computer, point and click, and the items are delivered to your door the next day. What could go wrong with that? Been doing it for practically as long as Amazon has been offering the service and I've neve...
by jacksonm
Thu Apr 25, 2019 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: 20 countries where 200K in retirement savings will last you decades
Replies: 232
Views: 30043

Re: 20 countries where 200K in retirement savings will last you decades

iamblessed wrote:
Sat Oct 06, 2018 1:18 pm
I am guessing 70% of Americans that try living abroad fail long term. I think most are back in five years. I don't know the exact number but it is high.
I wonder how many regret trying.
by jacksonm
Tue Apr 23, 2019 11:25 am
Forum: Personal Consumer Issues
Topic: At what age did you buy your first first class airplane ticket?
Replies: 112
Views: 5217

Re: At what age did you buy your first first class airplane ticket?

I bought my first and only first class ticket by mistake. I was booking a flight from Manila to Hong Kong and got a quote of a little over $1k. My first thought was that this was too good to be true because I assumed the quote was in Philippine pesos like all the other flights I had booked through t...
by jacksonm
Mon Apr 22, 2019 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes: marginal rate now vs effective rate in retirement
Replies: 198
Views: 10337

Re: Taxes: marginal rate now vs effective rate in retirement

Operating under Jack Bogle's sage advice that "nobody knows nuthin" I maxed out both my individual Roth and company 401k contributions in the years leading up to retirement.

You can try to predict whether or not you will be in a higher tax bracket when you retire or not but it's all just a guess.