Search found 63 matches

by Old Sage(brush)
Tue Jun 23, 2020 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is a forgiven loan a gift?
Replies: 13
Views: 1087

Re: Is a forgiven loan a gift?

If the support of graduate school had been made by the parents directly to the school what would it be? And if that’s ok without consideration of loan or gift I’m wondering does any of this matter?
by Old Sage(brush)
Mon Jun 22, 2020 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half
Replies: 40
Views: 4587

Re: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half

Thanks all for the inputs and comments. Negotiation is a possibility in every situation, and no harm to try, although I think here is unlikely to change what is offered. Seems there are differing views based on how one values certainty in health insurance v. taking a bit of risk there in exchange fo...
by Old Sage(brush)
Sat Jun 20, 2020 8:58 am
Forum: Personal Finance (Not Investing)
Topic: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half
Replies: 40
Views: 4587

Re: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half

There is very low risk of job loss, always a possibility but extremely low likelihood. More likely would be a change in the retiree health benefit and I can't really gauge that risk. Budget pressure on all universities is high. Thanks for the feedback!
by Old Sage(brush)
Sat Jun 20, 2020 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half
Replies: 40
Views: 4587

Re: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year?

Like a lot of people, my situation has changed due to pandemic. I updated my original post for changes in facts and analysis. Do these changes make any difference? Any new thoughts based on these updates? THanks.
by Old Sage(brush)
Wed Jun 17, 2020 5:55 am
Forum: Personal Consumer Issues
Topic: Should I sell my stash of dental floss now worth $3,000?
Replies: 105
Views: 11057

Re: Should I sell my stash of dental floss now worth $3,000?

Rumor has it bandaids are next. Get in early.
by Old Sage(brush)
Tue Jun 16, 2020 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Economic impact check “payment status unavailable “
Replies: 3
Views: 341

Re: Economic impact check “payment status unavailable “

I am not able to get check status from IRS either., for my 94 year old mom who has filed taxes, receives SS through direct deposit. Just tried the ALL CAPS thing, and it did not work. I assume this will eventually resolve itself, or get reflected in 2020 tax filing, but, I do wonder if somehow her c...
by Old Sage(brush)
Wed May 06, 2020 7:59 am
Forum: Personal Consumer Issues
Topic: How Long Should A Bed Last?
Replies: 30
Views: 2438

Re: How Long Should A Bed Last?

Funny. We love our tempurpedic memory foam mattress. When I toss and turn it stays on my side of the bed. Going on 20 years still ok.
by Old Sage(brush)
Tue Apr 28, 2020 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: how to set up self employed business?
Replies: 25
Views: 986

Re: how to set up self employed business?

There could be tax planning opportunities with an S Corp where she pays herself a reasonable salary and distributes any profits above that amount. The distributions wouldn’t have payroll taxes so potential savings of 15% on those profits. OP should talk to an accountant to see if tax planning in an ...
by Old Sage(brush)
Sun Apr 19, 2020 7:53 am
Forum: Personal Consumer Issues
Topic: Coronavirus (Consumer Issues) How you are preparing?
Replies: 1623
Views: 133832

Re: Coronavirus (Consumer Issues) How you are preparing?

Interesting to read the beginning of thread, or any thread from early in the year relating to the virus.
by Old Sage(brush)
Sat Apr 04, 2020 7:16 am
Forum: Personal Consumer Issues
Topic: What Movie Have You Recently Watched?
Replies: 5568
Views: 1361599

Re: What Movie Have You Recently Watched?

Once Were Brothers. Documentary story of The Band told through Robbie Robertson’s point of view.
by Old Sage(brush)
Sat Mar 28, 2020 5:34 pm
Forum: Personal Consumer Issues
Topic: What will you do first, once COVID pandemic is over?
Replies: 271
Views: 17592

Re: What will you do first, once COVID pandemic is over?

Not sure it will be first, but, it will be early, assuming my 94 year old mother survives this, will go for a visit.
by Old Sage(brush)
Sat Mar 28, 2020 12:43 pm
Forum: Personal Consumer Issues
Topic: Any ex-lawyers here?
Replies: 44
Views: 3835

Re: Any ex-lawyers here?

To the OP: my short bio- Big-law firm for 5 years (two different blue chip firms), in house at small public tech company for 18 years, including GC for last 10+, and now about 10 years teaching in a law school clinic (transactional law). My reaction to your question is that in house corporate work c...
by Old Sage(brush)
Thu Mar 26, 2020 7:22 am
Forum: Personal Investments
Topic: retiree allocation - tilt more towards equity in low yield environment?
Replies: 11
Views: 600

Re: retiree allocation - tilt more towards equity in low yield environment?

I think it depends on your time horizon and what the goals are for those funds. With that high a level of assets if I assume that your have a longer time horizon and the funds in long term are for heirs or charity donations, I’d be inclined to shift AA as long as you’ve taken care of your own expens...
by Old Sage(brush)
Thu Mar 26, 2020 6:36 am
Forum: Personal Consumer Issues
Topic: Are you still going to the grocery store or using a delivery service? Which?
Replies: 329
Views: 24530

Re: Are you still going to the grocery store or using a delivery service? Which?

We are all in this together, and having a sense of community is critical, that is, how our activities impact not just our families but others too. Perhaps that’s something good that can come out of this because it’s true not just for this virus but other issues the global community faces such as cli...
by Old Sage(brush)
Thu Mar 19, 2020 5:30 pm
Forum: Personal Investments
Topic: I knew this was going to happen and did nothing...
Replies: 107
Views: 10125

Re: I knew this was going to happen and did nothing...

Guess you were again with this statement: “- there is no way I'm ever going to have this clairvoyance again!”

Seriously, at your age you’ve got plenty of time to recover, and even better learn from your experiences (I wouldn’t even call them mistakes!!).
by Old Sage(brush)
Wed Mar 18, 2020 8:10 am
Forum: Personal Investments
Topic: The Black Swan is Here
Replies: 153
Views: 17050

Re: The Black Swan is Here

Strange times, lots of interesting thoughts here. Regarding the asteroid, if the stock market goes to zero, what percentage should you be in bonds?
by Old Sage(brush)
Mon Mar 16, 2020 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Using DAF funds in times of trouble
Replies: 8
Views: 576

Re: Using DAF funds in times of trouble

I would look to social service organizations that serve lower economic class who will be disproportionately impacted by this pandemic.
by Old Sage(brush)
Mon Mar 16, 2020 3:49 pm
Forum: Personal Consumer Issues
Topic: Thinking I should go car shopping amidst the panic
Replies: 103
Views: 10153

Re: Thinking I should go car shopping amidst the panic

Does anyone see an ethical issue with trying to take advantage of this health crisis?
by Old Sage(brush)
Sat Feb 29, 2020 9:51 am
Forum: Personal Consumer Issues
Topic: General house remodeling approach
Replies: 30
Views: 2576

Re: General house remodeling approach

After living in our cape style house for nearly 30 years we just recently finished major renovation project, including gut kitchen gut bathroom, replace unheated porch with great room with new basement studio beneath new room, new hard wood floors throughout first floor, central air, new boiler, oil...
by Old Sage(brush)
Sat Feb 22, 2020 9:16 am
Forum: Personal Investments
Topic: 401k investment change from VBTIX to VBMPX
Replies: 3
Views: 257

401k investment change from VBTIX to VBMPX

My employer plan is switching program providers and the change has mapped bond investment option from the old plan of VBTIX to VBMPX in the new plan. For me, VBTIX was a core bond allocation. Anyone here have any reactions to that change? Thanks!
by Old Sage(brush)
Sat Feb 15, 2020 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: Financial/career and life advice requested
Replies: 34
Views: 3505

Re: Financial/career and life advice requested

I will offer my own somewhat related experience. At about your age my company that I'd been with for 17 years in senior positions was acquired and while I could have stayed (they wanted me to) I had the opportunity to leave with a lucrative package, but unknown future. Not yet FI. I was burnt out in...
by Old Sage(brush)
Sat Feb 15, 2020 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half
Replies: 40
Views: 4587

Pandemic Updates: Retire this summer, with early retirement program, or work another academic year and a half

I believe I have reached financial point where I could retire. Net worth is about $3.6M, consisting of $2.5M in investments and $1.1M in two houses. Investments are allocated 60/40 with $1M in pre tax retirement, $350 in Roth, and balance in taxable accounts. Both houses fully paid for, primary resi...
by Old Sage(brush)
Mon Feb 10, 2020 9:30 pm
Forum: Personal Consumer Issues
Topic: What is your most luxury/expensive hobby.
Replies: 264
Views: 20278

Re: What is your most luxury/expensive hobby.

OP says “Most BHs here are middle/upper-middle class earners. ”
Is that true? Maybe some middle class but from what I see “most” is much higher income group here.
by Old Sage(brush)
Wed Feb 05, 2020 6:27 pm
Forum: Personal Consumer Issues
Topic: Vacationing to Palm Springs, CA in two weeks. Advice?
Replies: 24
Views: 2223

Re: Vacationing to Palm Springs, CA in two weeks. Advice?

Joshua tree national park if you’re into nature and the great outdoors
by Old Sage(brush)
Sun Feb 02, 2020 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Merit Scholarships - Advice and Strategies?
Replies: 91
Views: 6661

Re: Merit Scholarships - Advice and Strategies?

My advice is if you think your kid may be a candidate for a merit scholarship and you decide on a school but don’t get the scholarship, contact admissions before you accept and ask. A five minute phone call got my kid a $40,000 scholarship. Figure the financial return on that. Worked for one of my k...
by Old Sage(brush)
Sat Feb 01, 2020 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Insufficient assets in an estate - What to do?
Replies: 25
Views: 3370

Re: Insufficient assets in an estate - What to do?

So my question from the other thread, any answers? Thanks! If you’re in NY, significantly below the estate tax threshold, have only investment accounts in your estate all of which have TOD and IRAs with beneficiaries (no other assets), why would you need a trust? Seems to me you already have a simpl...
by Old Sage(brush)
Sat Feb 01, 2020 3:34 pm
Forum: Personal Finance (Not Investing)
Topic: Insufficient assets in an estate - What to do?
Replies: 25
Views: 3370

Re: Insufficient assets in an estate - What to do?

I would check this with an estate lawyer. That said I believe the TOD is part of the estate, just doesn’t go through probate. So those assets could be reached by a creditor of the estate.
by Old Sage(brush)
Sat Feb 01, 2020 8:49 am
Forum: Personal Finance (Not Investing)
Topic: Recent passed parent had Vanguard TOD and will. What now?
Replies: 69
Views: 7556

Re: Recent passed parent had Vanguard TOD and will. What now?

If you’re in NY, significantly below the estate tax threshold, have only investment accounts in your estate all of which have TOD and IRAs with beneficiaries (no other assets), why would you need a trust? Seems to me you already have a simple way to avoid probate and settlement of the estate should ...
by Old Sage(brush)
Sun Jan 26, 2020 10:34 am
Forum: Personal Consumer Issues
Topic: Mechanics of maintaining two homes
Replies: 37
Views: 3560

Re: Mechanics of maintaining two homes

Part of the upside of a second home for me is it’s a “home”. So in the ten plus years we’ve had a place three hour drive away it’s great to just get in the car and go. Little thought about what to bring/pack it’s all duplicated. Do have to plan food somewhat although if it’s just a weekend, eat out ...
by Old Sage(brush)
Sun Jan 26, 2020 8:10 am
Forum: Personal Finance (Not Investing)
Topic: When and why do you need a trust?
Replies: 17
Views: 2308

Re: When and why do you need a trust?

I would think on number 4, assuming she is of sound mind, the objective should be to use her assets as she desires. If she’d like to spend less, be less comfortable and leave an inheritance, isn’t that her decision?
by Old Sage(brush)
Sun Jan 26, 2020 8:04 am
Forum: Personal Investments
Topic: Asset Allocation within a few years of retirement
Replies: 28
Views: 2265

Re: Asset Allocation within a few years of retirement

How certain is it that this is correct? I’ve not seen this table posted above before:

Asset Allocation %
(Stock/Bond) Exposure to Max Loss
20/80 5%
30/70 10%
40/60 15%
50/50 20%
60/40 25%
70/30 30%
80/20 35%
90/10 40%
100/0 50%
by Old Sage(brush)
Thu Jan 23, 2020 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Easing into retirement - trial run idea
Replies: 17
Views: 2095

Re: Easing into retirement - trial run idea

Yes, I’ve pretty much done that. Left higher pay corporate job for much lower pay education job with more time off, a pre-retirement job. Not quite the same as retirement but it is easing in I’d say. And similar financial plan as you describe, living on lower income saving less but not drawing down....
by Old Sage(brush)
Wed Jan 22, 2020 8:54 am
Forum: Personal Finance (Not Investing)
Topic: How do you track your monthly expenses/overall financial picture?
Replies: 37
Views: 3641

Re: How do you track your monthly expenses/overall financial picture?

Morningstar portfolio tracker is great was using it when free through 401k. No longer have it now using Schwab performance report tool, not as good on detailed analysis. On expenses I don’t sweat it just keep a high level view on what comes in and what goes out and if it’s close I don’t look deeper.
by Old Sage(brush)
Mon Jan 13, 2020 8:55 pm
Forum: Personal Consumer Issues
Topic: College Reunion Destination
Replies: 49
Views: 3484

Re: College Reunion Destination

Montreal. Perfect for this can’t believe it’s not on the list.
by Old Sage(brush)
Fri Jan 03, 2020 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: For those who got out of tech industry (voluntarily or involuntarily)..
Replies: 109
Views: 8834

Re: For those who got out of tech industry (voluntarily or involuntarily)..

Even if you’re able to avoid ageism and otherwise stay the course in tech, you may just get burned out or want to try something different. I was in tech for nearly 20 years. If you’ve made/saved some money but want to keep working or just downshift one possibility is academia, either higher educatio...
by Old Sage(brush)
Sat Dec 21, 2019 3:44 pm
Forum: Personal Consumer Issues
Topic: African Safari trip
Replies: 22
Views: 1622

Re: African Safari trip

One thing to keep in mind on kids, or anyone else for that matter, you may see a “kill” which can be difficult to watch. Think my kids were 16 and 13. We saw a few lions take down a young water buffalo, with circle of life etc., lions gotta eat no issues. The trip itself can be tiring for less exper...
by Old Sage(brush)
Sat Dec 21, 2019 10:27 am
Forum: Personal Consumer Issues
Topic: How to Protect Your Most Important Asset
Replies: 45
Views: 6770

Re: How to Protect Your Most Important Asset

OP: a big part of it is recognizing it as you have. I agree with the suggestions others have posted and would just add that you need to prioritize healthy living, it can’t be secondary - make time for it every day, even just taking a brisk walk at lunchtime can help. And, one benefit of a personal t...
by Old Sage(brush)
Sat Dec 21, 2019 10:05 am
Forum: Personal Consumer Issues
Topic: African Safari trip
Replies: 22
Views: 1622

Re: African Safari trip

I’ve not done a self-drive, would like to in Namibia. For the OP, don’t undervalue the experience of having a guide (or usually 2, a spotter and driver). The guides in Botswana are professionals in a way that is different from what you’d expect, the qualifications to become a certified guide are str...
by Old Sage(brush)
Sat Dec 21, 2019 7:43 am
Forum: Personal Consumer Issues
Topic: African Safari trip
Replies: 22
Views: 1622

Re: African Safari trip

I recommend you check out Botswana, for high end safari. Depending on how long, consider three different lodges, sub-areas. It will cost you, my guess, $1k per day. We used a UK company, Expert Africa, and they were excellent, although this was more than 10 years ago.
by Old Sage(brush)
Fri Dec 13, 2019 8:01 am
Forum: Personal Investments
Topic: rollover old 401k to vanguard or schwab, or stay in new plan?
Replies: 5
Views: 376

Re: rollover old 401k to vanguard or schwab, or stay in new plan?

Thanks for the responses. Another recent thread on similar issue placed high value on credit protection of staying in 401k. I don’t see that as significant factor, seems highly risk adverse. For simplification I’m now leaning toward rollover, even though institutional class bond offerings in new pla...
by Old Sage(brush)
Fri Dec 13, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Delay retirement waiting for these medical benefits?
Replies: 22
Views: 1765

Re: Delay retirement waiting for these medical benefits?

If I were in a similar situation I’d place high value on the greater certainty of health coverage by delaying retirement. If she hated the job, or had significant health issues which increased the value of the time bought with earlier retirement, that would factor the other way. But, as a teacher it...
by Old Sage(brush)
Wed Dec 11, 2019 10:50 am
Forum: Personal Investments
Topic: rollover old 401k to vanguard or schwab, or stay in new plan?
Replies: 5
Views: 376

rollover old 401k to vanguard or schwab, or stay in new plan?

I've stayed in a former employer 401k for ease, and because I've been using it to for bond allocation in my overall portfolio (the bond investment choices were good). The employer is now switching from T. Rowe Price to Principal, and I'm trying to decide whether to rollover to an IRA (and if so, whe...
by Old Sage(brush)
Wed Dec 04, 2019 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: What do I do with S corp money?
Replies: 10
Views: 666

Re: What do I do with S corp money?

The IRS requirement is that you pay yourself a "reasonable" salary, so I would think it's unlikely you can distribute much of it as dividend, and most likely would have to pay most of it as salary. The major difference is the distributions are not subject to payroll taxes, and the salary is - that's...
by Old Sage(brush)
Tue Nov 26, 2019 10:49 am
Forum: Personal Finance (Not Investing)
Topic: Severance Negotiation - what is reasonable
Replies: 59
Views: 4337

Re: Severance Negotiation - what is reasonable

"In all likelihood the OP's legal position is, well, non-existent." How could anyone know that from the information provided? That statement is just an uniformed opinion. OP, you are getting different opinions on how to proceed, you will need to decide for yourself. You have more information than we...
by Old Sage(brush)
Tue Nov 26, 2019 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Severance Negotiation - what is reasonable
Replies: 59
Views: 4337

Re: Severance Negotiation - what is reasonable

It may be true that bringing a lawyer into the picture would chill the negotiation and, if there was goodwill, be counterproductive. However, consulting a lawyer does not mean bringing the lawyer into the negotiations directly. OP should at least understand what his legal position is, and can then f...
by Old Sage(brush)
Mon Nov 25, 2019 9:01 pm
Forum: Personal Finance (Not Investing)
Topic: Severance Negotiation - what is reasonable
Replies: 59
Views: 4337

Re: Severance Negotiation - what is reasonable

OP, you should get advice from an employment lawyer. Whether you have leverage to negotiate a severance package will depend in large part on what potential claims you may have from being laid off. Even if you are an employee at will, and it’s possible you’re not, a lay-off can’t be done in violation...
by Old Sage(brush)
Tue Nov 05, 2019 7:36 am
Forum: Personal Finance (Not Investing)
Topic: Thinking of Leaving Biglaw (current midlevel) - Things to Consider
Replies: 13
Views: 3151

Re: Thinking of Leaving Biglaw (current midlevel) - Things to Consider

Moving in house can be great, really depends on the company. Do extensive due diligence before jumping on the in house company and culture. I did it, worked great for me in terms of getting life back. But with pain along the way as I didn’t understand the wide variety of in house situations and didn...
by Old Sage(brush)
Tue Nov 05, 2019 7:21 am
Forum: Personal Consumer Issues
Topic: payoff period for viable solar ?
Replies: 17
Views: 1083

Re: payoff period for viable solar ?

I’ve put solar panels on 2 houses, one in Vermont one in Massachusetts. Payoff in Vermont was 10.5 years and in Massachusetts about 5. At 5 years unless you know you’re moving I think it’s virtually a no-brainer if you have the cash. Our Vermont installation was probably not a great financial invest...