Search found 2932 matches

by texasdiver
Mon May 20, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 121
Views: 5273

Re: Should I encourage my kids to work in high school/college?

Oldest daughter just finished her Jr year of college. She is an average student. What motivates her to finish out her degree? Terror at having to go back to work at McAlister’s Deli or Publix, the two jobs she had in HS and first summer of college. She has always managed to find part time work durin...
by texasdiver
Wed May 15, 2019 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 7770

Re: Inherited ranch

Definitely no. You dont do business with family. This. My answer would be a polite but firm no. To even ask for an “interest free” 20 year loan seems a bit absurd to me. I’d re-word it to them (if loan was 250k @ 5%): “Hey would you mind giving me $250k in 20 years? Because you know... we are famil...
by texasdiver
Mon May 13, 2019 4:46 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 7770

Re: Inherited ranch

The "pay it off over 20 years with no interest" strategy is how these kinds of things have traditionally been done in parts of farm country. Many in those regions will see an unwillingness to conform to this model as an insult. Enforcing some other structure may result in far more friction that goi...
by texasdiver
Sun May 12, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Growing old without kids or younger caring relatives
Replies: 123
Views: 27071

Re: Growing old without kids or younger caring relatives

Haven't read this entire thread. But it seems to me that portfolio design becomes pretty important in this situation. If you have heirs then maintaining a traditional retirement nest-egg that can be inherited is what most people seem to do. On the other hand, if you have no heirs, or no immediate h...
by texasdiver
Sun May 12, 2019 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 7770

Re: Inherited ranch

If the family member can't get financing and you are really interested in keeping it in the family, rent it to them at market rate (can be hard to determine) and hold onto it. That might be tough to get everyone to agree to that (though other family members are free to sell on a 20-year 0% loan) wh...
by texasdiver
Sun May 12, 2019 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Growing old without kids or younger caring relatives
Replies: 123
Views: 27071

Re: Growing old without kids or younger caring relatives

Haven't read this entire thread. But it seems to me that portfolio design becomes pretty important in this situation. If you have heirs then maintaining a traditional retirement nest-egg that can be inherited is what most people seem to do. On the other hand, if you have no heirs, or no immediate he...
by texasdiver
Sun May 12, 2019 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 7770

Re: Inherited ranch

Don't do it. My mother was in this exact same situation except it was 5 siblings and a 5-way split. In 20 years all manner of craziness can happen. In my mother's case her sister married an abusive controlling psycho, had 3 kids in close succession, and then died leaving the abusive psycho in-law wi...
by texasdiver
Fri May 10, 2019 11:22 am
Forum: Personal Investments
Topic: Hedge against the decline of the Realtor profession
Replies: 48
Views: 4045

Re: Hedge against the decline of the Realtor profession

As others have pointed out. It is probably the wrong strategy to try to invest your portfolio in something counter-cyclical to your job. Or to try to hedge against your job with your investments. They should be separate. Just stick with broad-base index funds. The other question you didn't quite ask...
by texasdiver
Fri May 10, 2019 12:03 am
Forum: Personal Investments
Topic: Best low-balance custodial Roth IRA for kids?
Replies: 10
Views: 680

Re: Best low-balance custodial Roth IRA for kids?

Thanks guys....to answer some questions. 1. She earns about $100/month teaching piano at her piano teacher's studio to a couple little kiddos. Her teacher has more requests for lessons than she can accommodate so some of the littlest kiddos take lessons from a couple of her favorite HS students in h...
by texasdiver
Thu May 09, 2019 3:36 pm
Forum: Personal Investments
Topic: Best low-balance custodial Roth IRA for kids?
Replies: 10
Views: 680

Best low-balance custodial Roth IRA for kids?

My 15 year old daughter is making some side income teaching piano to kindergarden kids. She wants to invest some of her earnings into a retirement account. I looked at Vanguard and their lowest minimum investment fund is $1000 for the STAR fund and $3000 for all other mutual funds. But it looks like...
by texasdiver
Sat May 04, 2019 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: House Hunting Duration: 10 Months Too Long?
Replies: 16
Views: 1847

Re: House Hunting Duration: 10 Months Too Long?

I started home shopping almost 2 years before our last move. Now obviously I wasn't engaging lenders and making offers and that sort of thing. But I was actively watching the market, emailing/interviewing real estate agents, and seeing as many houses as we could when we were making visits. At the ti...
by texasdiver
Fri May 03, 2019 11:29 pm
Forum: Personal Investments
Topic: Nouveau Riche Issue!
Replies: 17
Views: 4177

Re: Nouveau Riche Issue!

Was more or less in your shoes except i'm a former not current Fed. I rolled 4 different IRA and 403(b) plans into the TSP to consolidate all of my traditional IRA type holdings in the TSP. You can basically own the entire stock market and entire bond market within the TSP. What more do you need? So...
by texasdiver
Wed May 01, 2019 5:27 pm
Forum: Personal Investments
Topic: Ever Too Much in HSA?
Replies: 53
Views: 5019

Re: Ever Too Much in HSA?

To answer the origional question, only reason I can think of not to ever max out the HSA is if you have a particularly bad HSA with high fees and/or poor investment options compared to your alternative investment vehicles.
by texasdiver
Wed May 01, 2019 12:34 pm
Forum: Personal Investments
Topic: Ever Too Much in HSA?
Replies: 53
Views: 5019

Re: Ever Too Much in HSA?

You can use HSA as emergency fund. Pay you current medical bill with reward credit card. Save the receipts. When you need EM, just submit your receipt to get your money back. However, due to it's tax advantages, it' better to let it grow as long as possible. I think you are confusing an HSA with a ...
by texasdiver
Wed May 01, 2019 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Chiropracter career no longer lucrative...what other job options are there?
Replies: 41
Views: 5347

Re: Chiropracter career no longer lucrative...what other job options are there?

Something not mentioned here is regionality. I have two cousins who are chiropracters. They have both done well. But neither of them live in really popular areas. By contrast, here in the greater Portland area there seems to be chiropractors on every street corner. Well, not quite, but they are ever...
by texasdiver
Wed May 01, 2019 11:29 am
Forum: Personal Investments
Topic: Social responsibility investing in my 401k?
Replies: 13
Views: 683

Re: Social responsibility investing in my 401k?

I'm trying to focus on making my life relatively ethically focused. I do donate a good amount of money to charities and choose not to buy items from companies that I deem unworthy ("voting with my dollar"). I acknowledge that, to some extent, most indices will have some level of "unethical" investm...
by texasdiver
Sun Apr 21, 2019 7:52 pm
Forum: Personal Investments
Topic: Tapping into Roth to buy a house
Replies: 21
Views: 1529

Re: Tapping into Roth to buy a house

We did this when we moved from LCOA Texas to HCOA Washington. Could we have possibly swung the down payment without using the Roths? Possibly, but it likely would have meant some other type of financial gymnastics or buying less of a house than we wanted. Sometimes life is a compromise. My wife very...
by texasdiver
Fri Apr 19, 2019 9:37 pm
Forum: Personal Investments
Topic: Ever Too Much in HSA?
Replies: 53
Views: 5019

Re: Ever Too Much in HSA?

Only reason I can think of to slow down is if it has horrible fees or horrible investment options that will drag down the investment gains relative to other options for the money.
by texasdiver
Thu Apr 18, 2019 5:15 pm
Forum: Investing - Theory, News & General
Topic: Loans from 401k -- back door investing?
Replies: 57
Views: 4209

Re: Loans from 401k -- back door investing?

And, a 401k loan has no tax disadvantages versus an equivalent non-deductible loan. (Of course, comparing it to a completely different loan may have different, and irrelevant, results.) This is the basis for my claim that "double-taxation" is a mental illusion. Exactly. Therefore the loan interest ...
by texasdiver
Tue Apr 16, 2019 6:46 pm
Forum: Personal Investments
Topic: 401K Profit Sharing
Replies: 7
Views: 482

Re: 401K Profit Sharing

My wife was previously with a smaller non-profit clinic that had a profit sharing plan. They dropped a single annual deposit into her account. There were a few other minor re-deposits of earnings and such during other parts of the year but it was only every late Feb that she saw a substantial deposi...
by texasdiver
Tue Apr 16, 2019 11:46 am
Forum: Personal Finance (Not Investing)
Topic: "When Adding to Your Retirement Account is a Bad Idea"
Replies: 29
Views: 3867

Re: "When Adding to Your Retirement Account is a Bad Idea"

I'm confused. What does the author suggest that the $16 million 401(k) account holder do with her $16 million if not actually spend it? Just keep it stashed away and sheltered from taxes forever? Oh wait...I get it! He wants you to give up your tax deduction and instead give him the money to put in ...
by texasdiver
Tue Apr 16, 2019 11:33 am
Forum: Personal Consumer Issues
Topic: Recommend a reversible glue for sticking plastic to metal
Replies: 11
Views: 615

Re: Recommend a reversible glue for sticking plastic to metal

I'd use hot glue.

You can usually just scrape it off if necessary and do-over
by texasdiver
Sun Apr 14, 2019 9:20 pm
Forum: Investing - Theory, News & General
Topic: ETFs vs. Mutual Funds ("Bogleheads Mentioned in the NYT")
Replies: 59
Views: 8428

ETFs vs. Mutual Funds ("Bogleheads Mentioned in the NYT")

There are some pools of money for which ETFs are the only viable investment route. For example, in my former HSA account the only investment option was through TD Ameritrade buying ETFs. So I bought Vanguard ETFs. I did, however, find it somewhat more awkward and nerve racking than simply buying pla...
by texasdiver
Sun Apr 14, 2019 8:44 pm
Forum: Investing - Theory, News & General
Topic: Loans from 401k -- back door investing?
Replies: 57
Views: 4209

Re: Loans from 401k -- back door investing?

I did a 401(k) loan....(actually a TSP loan) to generate a large enough down payment to buy my first house. The house appreciated by about 50% over the next 5 years so it worked out to my benefit vs waiting another year or two to generate the down payment by savings. One caution about 401(k) loans. ...
by texasdiver
Sun Apr 14, 2019 12:40 pm
Forum: Personal Investments
Topic: Should I cash in pension to avoid social security WEP?
Replies: 12
Views: 1133

Re: Should I cash in pension to avoid social security WEP?

With the wife 7 years younger it usually makes sense to keep the pension and go with the max survivor benefit. I would continue to evaluate as you get closer to retirement. The good thing is that for you two it really doesn't matter. I would be thinking like that if it was a COLA pension but since ...
by texasdiver
Sun Apr 14, 2019 11:49 am
Forum: Personal Investments
Topic: Best college fund living inTexas
Replies: 9
Views: 761

Re: Best college fund living inTexas

Since Texas has no income tax there are no tax issues tilting you towards a Texas-specific plan and you can pretty much choose any plan you want from anywhere. I Lived in Texas for a decade and invested in the Vanguard 529 plan for all my daughters, which is actually the Nevada plan but administered...
by texasdiver
Sun Apr 14, 2019 11:36 am
Forum: Personal Investments
Topic: Should I cash in pension to avoid social security WEP?
Replies: 12
Views: 1133

Re: Should I cash in pension to avoid social security WEP?

Could you continue working long enough to reach 30 years (or close to 30 years) of "substantial earnings" under social security? Then you could take the pension and social security with no WEP. I could but not interested in it. I'm doing some part-time consulting work and substitute teaching right ...
by texasdiver
Sat Apr 13, 2019 4:05 pm
Forum: Personal Investments
Topic: Should I cash in pension to avoid social security WEP?
Replies: 12
Views: 1133

Re: Should I cash in pension to avoid social security WEP?

is there a survivor benefit for your pension (and if so, what's the amount) and is there any significant age difference between you and your spouse? Would a survivor benefit be reduced/affected by WEP for your spouse? I still think expecting 8% annual returns for the S&P500 over the next 10 years i...
by texasdiver
Sat Apr 13, 2019 3:21 pm
Forum: Personal Investments
Topic: Should I cash in pension to avoid social security WEP?
Replies: 12
Views: 1133

Re: Should I cash in pension to avoid social security WEP?

Did you read this SSA POM on WEP? https://secure.ssa.gov/apps10/poms.nsf/lnx/0300605364 Yes, that's what I'm relying on. The lump-sum payout that Texas would pay represents only my contributions and not those of the school district. That's why the amount is so low. So I would qualify there. As I re...
by texasdiver
Sat Apr 13, 2019 3:06 pm
Forum: Personal Investments
Topic: Should I cash in pension to avoid social security WEP?
Replies: 12
Views: 1133

Re: Should I cash in pension to avoid social security WEP?

The main unknown variable is the future value of the lump sum pension rollover. at 8% annual returns if invested in an IRA it would grow to about $70,000 by age 65 and about $102,000 by age 70. By my calculations if I keep the pension, I would receive pension payments of $9,984 between ages 65 and ...
by texasdiver
Sat Apr 13, 2019 2:32 pm
Forum: Personal Investments
Topic: Should I cash in pension to avoid social security WEP?
Replies: 12
Views: 1133

Should I cash in pension to avoid social security WEP?

I have earned a small teachers pension from 9 years of teaching in Texas that will subject my future social security benefits to the Windfall Elimination Provision (WEP) because my Texas school district did not pay into social security. I am trying to figure out whether it is worth it to keep the pe...
by texasdiver
Thu Apr 11, 2019 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Torment from the IRS
Replies: 16
Views: 2360

Re: Torment from the IRS

I wonder if that's an IRS-specific thing or some kind of bank thing.

I suppose one of us can test it. Who wants to write me a $100,000.001 check and see if it clears?
by texasdiver
Mon Apr 08, 2019 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

One catch to 457b plans....I had one at a previous place of employment. When I left that job the funds were all distributed to me as taxable income and I had a huge tax bill that year. It was a tough nut to swallow because I was unemployed at the time with little income. I think 457b's are great- I...
by texasdiver
Sun Apr 07, 2019 12:26 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

There are definitely areas of the country where the pay is low, but in general I've found that public school teachers make more than people tend to think they do. What do you think that others think k-12 school teachers earn? I don't think, if I want to know this information it is very easy to look...
by texasdiver
Fri Apr 05, 2019 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

No, WEP only applies to traditional public pension programs that don't pay into social security. Not 403(b) or 457 plan savings you might have made while working in a non social security job. When the social security program was first established in the 1930s there were a variety of existing public...
by texasdiver
Thu Apr 04, 2019 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

Well, look at that, I learned something today! OP, teacher here but have nothing really to add to the conversation. I'm well-compensated in a fairly LCOL area. I feel "trapped" by the fact that I will suffer quite the monetary loss if I were to try to move or change jobs, but I'm in my home distric...
by texasdiver
Thu Apr 04, 2019 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

Well, look at that, I learned something today! OP, teacher here but have nothing really to add to the conversation. I'm well-compensated in a fairly LCOL area. I feel "trapped" by the fact that I will suffer quite the monetary loss if I were to try to move or change jobs, but I'm in my home distric...
by texasdiver
Thu Apr 04, 2019 3:47 pm
Forum: Personal Investments
Topic: Mom retired with not quite enough savings, questions about annuity
Replies: 44
Views: 5541

Re: Mom retired with not quite enough savings, questions about annuity

If you want to help, I'd do the following: 1. Try to find a good fiduciary fee-only financial advisor that you like and trust and that you think your mom will listen to and respect (i.e. someone seasoned, not some 20-something in a sharp suit). Pay for this yourself if you have to, as the cost will ...
by texasdiver
Thu Apr 04, 2019 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

It most definitely applies if the OP moves to a new state in which teachers do not pay into SS. Whatever new pension the OP's wife would earn in the new state would result in a WEP clawback of already-earned SS benefits at the old state. I know, I've been there and done that. There are 15 states wh...
by texasdiver
Thu Apr 04, 2019 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

Teacher's spouse here. Please be aware that due to the Government Pension Offset, your spouse may have a substantial reduction OR ELIMINATION of all spousal social security benefits. Please see the following: The nitty-gritty of the Government Pension Offset (GPO) is simple. If you meet both of req...
by texasdiver
Wed Apr 03, 2019 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

Lastly, I will say that I thought that living near family was nice, but not a must-have. Now that I've had a child, I'm infinitely grateful to have family close-by. When your child first starts being taken care of outside the home (whether that's daycare or kindergarten), your child is going to sta...
by texasdiver
Wed Apr 03, 2019 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

Teacher's spouse here. Please be aware that due to the Government Pension Offset, your spouse may have a substantial reduction OR ELIMINATION of all spousal social security benefits. Please see the following: The nitty-gritty of the Government Pension Offset (GPO) is simple. If you meet both of req...
by texasdiver
Wed Apr 03, 2019 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: 11-year old with iPhone - advice on how best to manage?
Replies: 68
Views: 4414

Re: 11-year old with iPhone - advice on how best to manage?

The Hottest Chat App for Teens is.....Google Docs: https://www.theatlantic.com/technology/archive/2019/03/hottest-chat-app-teens-google-docs/584857/ I'm not sure if this article is entirely contradictory to my position. So what if the kids "pass notes" by Google in class? One kid pointed out the cr...
by texasdiver
Wed Apr 03, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

we are in Westchester County. one of the highest COL in the country but yes she is compensated very fairly. and i am a DUMMY! she does have a 457b in addition to the 403b. i forgot. i switched her out of the 403b due to how bad the options were and INTO the 457b. i need to find her 457b balance... ...
by texasdiver
Wed Apr 03, 2019 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6750

Re: Boglehead teachers or those married to one: some questions about career and life...

Teacher here: My wife and I went through your thought process a few years ago. She is a physician. I'm in a second career as a science teacher after working for over a decade as a marine biologist with NOAA in Alaska, Seattle, and DC. My wife's medical training brought us from Alaska to Texas where ...
by texasdiver
Wed Apr 03, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: 11-year old with iPhone - advice on how best to manage?
Replies: 68
Views: 4414

Re: 11-year old with iPhone - advice on how best to manage?

PS, I'm also a HS teacher so I sort of know all the ways and methods that kids use for social media and texting. I would tell you right now that trying to read your kid's phone to check text messages and such is a fools errand. If the kid is at all sneaky there are 100s of ways they can text and co...
by texasdiver
Mon Apr 01, 2019 11:24 pm
Forum: Personal Investments
Topic: Failed land investments and what to do with it?
Replies: 86
Views: 6457

Re: Failed land investments and what to do with it?

I don't know about this particular spot in CA but I have been aware of some similar land schemes in West Texas. Beware, some of the offers to buy are just as scammy as the offers to sell. You can get bled for fees and then not actually complete a sale. If it were me. There is a place out in West Tex...
by texasdiver
Fri Mar 29, 2019 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: 11-year old with iPhone - advice on how best to manage?
Replies: 68
Views: 4414

Re: 11-year old with iPhone - advice on how best to manage?

The problem with getting a kid a cell phone is it never ends. My daughter (36) and my son (33) are still on my plan. :shock: (For many plans the 3rd and 4th lines are cheap so it saved THEM a lot of money just staying on our plan). My adult 22-year old college student daughter is still on our plan....
by texasdiver
Fri Mar 29, 2019 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: 11-year old with iPhone - advice on how best to manage?
Replies: 68
Views: 4414

Re: 11-year old with iPhone - advice on how best to manage?

The problem with getting a kid a cell phone is it never ends. My daughter (36) and my son (33) are still on my plan. :shock: (For many plans the 3rd and 4th lines are cheap so it saved THEM a lot of money just staying on our plan). My adult 22-year old college student daughter is still on our plan....
by texasdiver
Thu Mar 28, 2019 1:48 pm
Forum: Personal Finance (Not Investing)
Topic: 11-year old with iPhone - advice on how best to manage?
Replies: 68
Views: 4414

Re: 11-year old with iPhone - advice on how best to manage?

PS, I'm also a HS teacher so I sort of know all the ways and methods that kids use for social media and texting. I would tell you right now that trying to read your kid's phone to check text messages and such is a fools errand. If the kid is at all sneaky there are 100s of ways they can text and com...