Search found 211 matches

by azianbob
Fri Sep 20, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: 2 weeks notice or No Notice ? save 3.5K or Reputation ?
Replies: 135
Views: 10770

Re: 2 weeks notice or No Notice ? save 3.5K or Reputation ?

I would always give two week's notice. $3.5k is not a lot in the long scheme of things.
by azianbob
Fri Sep 20, 2019 12:17 pm
Forum: Personal Finance (Not Investing)
Topic: Roth IRA Withdrawals
Replies: 3
Views: 470

Roth IRA Withdrawals

Hello, I had a quick question regarding the rules around Roth IRA withdrawals. I have read that I can withdraw the principle of the Roth IRA prior to 59.5 years of age without a penalty of any kind. 1. If this is true, does the institution track the principle value vs the gains? Would I need to some...
by azianbob
Thu Sep 19, 2019 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: Capital One 360 shaking up savings accounts
Replies: 26
Views: 7587

Re: Capital One 360 shaking up savings accounts

I feel banks sometimes create new account types in hopes the people are lazy and keep their money in the old account that earns less. While they can advertise the higher rates of the new account. CIT bank does this a lot …
by azianbob
Thu Sep 19, 2019 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Best Method to Inherit House
Replies: 19
Views: 2297

Re: Best Method to Inherit House

So a transfer on death deed works similar to a trust where once my parents pass the title will transfer to me and I will get the stepped up basis of FMV? Does that mean my property tax will go up from what my parents pay? I'm assuming this wouldn't have the same legal protections of a trust but from...
by azianbob
Wed Sep 18, 2019 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Best Method to Inherit House
Replies: 19
Views: 2297

Re: Best Method to Inherit House

Well my mom is getting weaker, so living in a two story house (three if you include the garage) is becoming less and less a good idea. She's already fallen a couple times this year walking around. So far my parents have been against moving out to a one story condo or apartment, but I feel at this ra...
by azianbob
Tue Sep 17, 2019 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: Facing very short gap without health insurance, options
Replies: 26
Views: 1246

Re: Facing very short gap without health insurance, options

Can she use a week of vacation at her old company, if she has any available, to bridge the gap? Rather than being paid out for all of it.
by azianbob
Tue Sep 17, 2019 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Best Method to Inherit House
Replies: 19
Views: 2297

Re: Best Method to Inherit House

We're in California. Their estate will be less than $2M, and that's including the house. It is completely paid off.
by azianbob
Mon Sep 16, 2019 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Best Method to Inherit House
Replies: 19
Views: 2297

Best Method to Inherit House

My parents and I are considering how to set up their affairs. They own a townhome and want to leave it to me. I am an only child so there is no drama involved, its just to figure out the best method in terms of taxes. I have been told there would be three options, but wanted to see if the BH communi...
by azianbob
Mon Sep 16, 2019 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Renting while working, buying at retirement?
Replies: 12
Views: 1374

Re: Renting while working, buying at retirement?

If you guys have income of 270k a year, have a 1400 rent, no kids, and cannot afford a 320k home, you might want to reassess what you are spending your money on.
by azianbob
Fri Sep 13, 2019 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Managing joint finances when one is a perfectionist
Replies: 122
Views: 7681

Re: Managing joint finances when one is a perfectionist

Compromise. When we got married, I took over most of the finances, such as rent, bills, etc. I also run her 401k and IRA. However my wife, like your boyfriend, does not save receipts and generally will forget to make credit card payments. It caused some friction so we just compromised. My wife close...
by azianbob
Wed Sep 11, 2019 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Roth or Traditional based on tax bracket
Replies: 49
Views: 2515

Re: Roth or Traditional based on tax bracket

I'm just saying I do not find it likely in the future that we will be able to have an income of $345,850 and pay only 24% tax on it. I find the chances much higher that rates will rise. That being said, I understand you guys saying it is also possible in the future that tax rates could be lower, or ...
by azianbob
Wed Sep 11, 2019 11:43 am
Forum: Personal Finance (Not Investing)
Topic: Roth or Traditional based on tax bracket
Replies: 49
Views: 2515

Re: Roth or Traditional based on tax bracket

I guess the taxable account will have to cover us for those 5 years. If you retire in the year that you turn 55 or later, you can withdraw from your current 401k penalty-free. I favor investing in Traditional and then Roth converting in the 12% tax bracket for 15 years, the boundary of which is cur...
by azianbob
Tue Sep 10, 2019 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Overpaying Medicare Part B when first collecting Soc Sec
Replies: 10
Views: 1064

Re: Overpaying Medicare Part B when first collecting Soc Sec

You pay for Medicare premiums for the quarter ahead of time. As such, you probably have a bill due in end of Sept for Oct, Nov, Dec. The safest route is to pay the full amount by the due date on Sept. IRS will calculate the amount you overpaid and repay you. In your case, you will be getting back $2...
by azianbob
Tue Sep 10, 2019 6:05 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on picking best health plan, PPO vs HSA
Replies: 9
Views: 872

Re: Advice on picking best health plan, PPO vs HSA

Go with the HDHP, and every year before annual enrollment, discuss with your wife if this is the year you want to be trying to have kids. If the answer is no, stay on the HDHP for another year and assess again. If the answer is yes, change plan to PPO.
by azianbob
Tue Sep 10, 2019 5:41 pm
Forum: Personal Consumer Issues
Topic: Lexus or Camry?
Replies: 34
Views: 3281

Re: Lexus or Camry?

Keep the Lexus. Both are paid off. Reliability is similar between the two but the Camry is older so will need major repairs / to be replaced sooner. Also at the 100k mileage, its due for more expensive major maintenance which you can avoid for now. Plus its nice to have one luxury car if you need to...
by azianbob
Tue Sep 10, 2019 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 3876

Re: Social Security Benefits Strategy

Okay, I had another question. Let's say that a husband and wife are 8 years apart. If the husband files at 70, and the wife is 62 and files early for spousal benefit at the same time, is her portion only docked the 30% early filing penalty, or is it subject to the income limits as well? Like how fo...
by azianbob
Tue Sep 10, 2019 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Roth or Traditional based on tax bracket
Replies: 49
Views: 2515

Re: Roth or Traditional based on tax bracket

.... The issue is will you be able to withdraw or convert your whole traditional balance over 10-20 years while staying under the 12-15% bracket while also having enough to pay for your expenses. That's the thing. If you find yourself in the fortunate position in retirement to be in a higher tax br...
by azianbob
Tue Sep 10, 2019 5:00 pm
Forum: Personal Finance (Not Investing)
Topic: Roth or Traditional based on tax bracket
Replies: 49
Views: 2515

Re: Roth or Traditional based on tax bracket

Right now not only are tax rates lower, but the income brackets are larger. For instance, before the Trump cuts, tax rates were 10% 19400 12% 78950 22% 168400 24% 321450 32% 408200 Now they are 10% 18650 15% 75900 25% 153100 28% 233350 33% 416700 So not only are the %s lower, the amount of money in ...
by azianbob
Tue Sep 10, 2019 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 3876

Re: Social Security Benefits Strategy

Okay, I had another question. Let's say that a husband and wife are 8 years apart. If the husband files at 70, and the wife is 62 and files early for spousal benefit at the same time, is her portion only docked the 30% early filing penalty, or is it subject to the income limits as well? Like how fo...
by azianbob
Tue Sep 10, 2019 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Roth or Traditional based on tax bracket
Replies: 49
Views: 2515

Re: Roth or Traditional based on tax bracket

I would do Roth for everything in the 24% bracket and lower. ... Even if you start [conversions] at 50, if your traditional 401k balance is 2 million, you will not be able to convert it all to Roth by 70 when you only do that little a year. If one is never above the 24% bracket while working, how w...
by azianbob
Tue Sep 10, 2019 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: Roth or Traditional based on tax bracket
Replies: 49
Views: 2515

Re: Roth or Traditional based on tax bracket

I would do Roth for everything in the 24% bracket and lower. Only switch to traditional for income above 24%. I would also fill up the Roth in the younger spouse's 401k first, then fill it up in the older spouse's. I know everyone mentions that you can do many years of Roth conversions later in the ...
by azianbob
Tue Sep 10, 2019 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 3876

Re: Social Security Benefits Strategy

I think the law has change so the lower earning spouse can no longer file early for theirs and then get spousal benefits later. I believe if she files at 62 for her own, then the spousal beneift is filed at the same time and she can only get the larger of the two. This is true if the lower earning ...
by azianbob
Mon Sep 09, 2019 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Have you been doing better than your parents?
Replies: 30
Views: 2197

Re: Have you been doing better than your parents?

Hard to say. I make more than my dad does, but he bought a home back in the day that appreciated five times the initial cost so is worth over a million. However if you take out the house then I am doing much better fiancially. However, being an immigrant he didn't know what a 401k was and saved all ...
by azianbob
Sun Sep 08, 2019 2:53 am
Forum: Personal Finance (Not Investing)
Topic: Actually considering Roth 401k
Replies: 22
Views: 1897

Re: Actually considering Roth 401k

I do the ROth 401k, tax rates are pretty low right now. As long as you can fall in the 24% or less I think it is worth it.

Besides, all your matches and profit sharing will be pre-tax, so that will add up to a decent amount too even if you do 100% Roth 401k.
by azianbob
Fri Sep 06, 2019 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage Calculation
Replies: 51
Views: 3107

Re: Savings Percentage Calculation

Thank you all for the replies. I guess I just wanted to know how a savings% is calculated. I do not use it myself as a budging tool to save. Like others, my main goal is to maintain an emergency fund with 1 year of expenses, and contribute to the max annually to my 401k, Roth IRA, and HSA, then with...
by azianbob
Fri Sep 06, 2019 1:25 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits Strategy
Replies: 35
Views: 3876

Re: Social Security Benefits Strategy

I think the law has change so the lower earning spouse can no longer file early for theirs and then get spousal benefits later. I believe if she files at 62 for her own, then the spousal beneift is filed at the same time and she can only get the larger of the two. This is true if the lower earning ...
by azianbob
Fri Sep 06, 2019 1:14 pm
Forum: Personal Consumer Issues
Topic: Pre-paid Funeral Expenses
Replies: 66
Views: 3853

Re: Pre-paid Funeral Expenses

I dont think you need to prepay expenses. Just have it in your will how you want your funeral done and from your funds.

But you may want to buy the plot up front, if you think prices will go up a lot in the future.
by azianbob
Thu Sep 05, 2019 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: How does my auto insurance look to you? Is the coverage ok?
Replies: 43
Views: 2395

Re: How does my auto insurance look to you? Is the coverage ok?

You can never have enough insurance. Get as much as you can afford.
by azianbob
Thu Sep 05, 2019 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: HSA guidance
Replies: 9
Views: 835

Re: HSA guidance

Yes, you can rollover an HSA to another HSA custodian. You can also contribute to you current employer's HSA custodian to get a FICA exemption. Then you can periodically rollover from your current employer's HSA custodian to another HSA custodian. Fidelity is the current HSA custodian of choice. Is...
by azianbob
Thu Sep 05, 2019 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Stressed Over Money 25 Yr. Old
Replies: 65
Views: 5059

Re: Stressed Over Money 25 Yr. Old

One way to not worry about RMDs later in life is to go Roth for your 401k and IRAs. Especially if you have all this surplus cash might as well use a bit of it now to have more flexibility in the future. But making 130k at 25 and having 600k is a really good head start. I say continue living at home ...
by azianbob
Thu Sep 05, 2019 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: 25 y/o, What’s the best plan for me right now?
Replies: 9
Views: 686

Re: 25 y/o, What’s the best plan for me right now?

Your allocation is fine but I personally would have no bonds at your age. Bonds are a hedge for if you have to withdraw when the market is down or if you need a steady income. But you are 25 so you won't be drawing from this for at least 35 more years, so go for growth. I personally not a a big fan ...
by azianbob
Thu Sep 05, 2019 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Percentage Calculation
Replies: 51
Views: 3107

Savings Percentage Calculation

Hi all, I see a lot of threads that incorporate savings %s (like you should aim to save 25%, 50% of income, etc) as like a goal to have. Are you guys doing a percentage based on gross income and gross savings? So your savings (retirement accounts + after-tax) divided by full salary + income? Or are ...
by azianbob
Wed Sep 04, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to collaborate on net worth/retirement goals?
Replies: 16
Views: 1846

Re: Best way to collaborate on net worth/retirement goals?

I have Bank of America, and you have to option to link other accounts (401k, credit cards, HSA, other bank accounts all work). You can link DW accounts too, just need login and password. It will download all the transactions and you can sort through expenses and income and what not. Since I have my ...
by azianbob
Tue Sep 03, 2019 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Investing Priority: Roth 401k vs Mega Backdoor
Replies: 3
Views: 481

Re: Investing Priority: Roth 401k vs Mega Backdoor

If you can afford to max out on everything I would switch to a Roth 401k. Tax rates are pretty low, I can't really see it getting any lower so might as well lock the rates in. Also Roth is a lot more flexible (if you switch companies you can roll over the 401k to a Roth IRA) and Roth IRA allows you ...
by azianbob
Tue Sep 03, 2019 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring soon
Replies: 33
Views: 3100

Re: Retiring soon

gravysauce0528 wrote:
Mon Sep 02, 2019 8:01 pm
Im applying for part a and b once I retire.
I believe for part A you needed to apply when you turned 65. It is free. If you did not they may penalize you for applying late.

For part B as long as you show that you had medical from work they will be fine with you starting it late.
by azianbob
Tue Sep 03, 2019 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Extended Car Warranty
Replies: 24
Views: 1582

Re: Extended Car Warranty

https://www.cadillac.com/ownership/protection/purchase-protection-plan Check this out, it will give you the MSRP of the different plans Cadillac offers. Like others said, you can then look online and find dealers that sell the plan online for close to cost. I have had three cars in my life, and had ...
by azianbob
Fri Aug 30, 2019 3:46 am
Forum: Personal Finance (Not Investing)
Topic: Which car to sell?
Replies: 15
Views: 1073

Re: Which car to sell?

Rent out car 1 or 2 (whichever one you are not driving) on Turo.

Once lease ends on car 3 return it and give DW back the Civic/Rav4.
by azianbob
Thu Aug 29, 2019 8:31 pm
Forum: Personal Finance (Not Investing)
Topic: Educating Spouse on Personal Finance
Replies: 60
Views: 3786

Re: Educating Spouse on Personal Finance

My wife is similar to yours. She has no interest, doesn't even ask where our money is or how much. She buys stuff on her credit card, which is paid automatically in full each month from her checking account. I even handle her 401k and IRAs. I have a paper that lists all the accounts we have. I shoul...
by azianbob
Thu Aug 29, 2019 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare, Medi-Cal and Covered California
Replies: 3
Views: 239

Re: Medicare, Medi-Cal and Covered California

What are you trying to do here? Your questions seem to apply to someone with high income and for someone with low income. Is the majority of your assets in tax-deferred and you are trying to figure out how much to withdraw/convert each year without triggering other "taxes"? Well I am considering re...
by azianbob
Thu Aug 29, 2019 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for after getting high income
Replies: 46
Views: 6139

Re: Advice for after getting high income

Is the 750k income pure cash or mostly stock options? If it is pure cash, you can probably spend it on whatever. I personally would buy things that make my life easier and more comfortable (like those first class plane tickets instead of economy, a luxury car rather than a cheap one with no suspensi...
by azianbob
Thu Aug 29, 2019 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: High interest short term saving account
Replies: 9
Views: 763

Re: High interest short term saving account

CIT Bank savings builder gives 2.3% as long as you have either $25000 or you deposit $100 or more each month
by azianbob
Thu Aug 29, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: Should I purchase a $30k car?
Replies: 112
Views: 7681

Re: Should I purchase a $30k car?

I would not buy a BMW. Almost everyone I know pays a fortune to maintain it (oil changes are over $150) and they all seems to have major repairs needed starting at the 4-5 year mark. Once your lease ends you should return it. You should then go to a GSA auction. They have cars that were maintained b...
by azianbob
Thu Aug 29, 2019 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security age 70 or bust?
Replies: 81
Views: 4740

Re: Social Security age 70 or bust?

Because my wife’s SS payment is small (she claimed @62), she will get a big bump up (to 50% of my PIA) when I file. So there is only a few thousand difference between claiming at 68 and 70. I lean towards waiting to age 70 (for the maximum survivor’s benefit) but I have the flexibility to claim ear...
by azianbob
Thu Aug 29, 2019 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare, Medi-Cal and Covered California
Replies: 3
Views: 239

Medicare, Medi-Cal and Covered California

Hello, just had a couple questions for the group here. Medicare 1. For Medicare, the IRMAA is $170k for married, meaning that all income (before any deductions) cannot exceed that amount if I want to qualify for the lowest Medicare premium ($135.50 right now)? 2. Since they use the calculation from ...
by azianbob
Thu Aug 29, 2019 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off house before retirement or have available cash?
Replies: 84
Views: 6853

Re: Pay off house before retirement or have available cash?

While you should move some of the assets to fixed income as you get closer to retirement, you also shouldnt go all in, no? If he retires at 65, he technically could live another 30 years, so you want some growth. I personally would pay off the mortgage. It may not be the best decision finanically or...
by azianbob
Fri May 17, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Cash - Throw it all on the table!!!
Replies: 181
Views: 30975

Re: Cash - Throw it all on the table!!!

I currently hold more cash than I would since I am considering buying a home soon so want to have it liquid and not suseptible to any market downturn. Normally, I keep about $2000 in checking after I have paid all my monthly bills, then $10k in Purepoint Savings (2.35% interest) for any sudden big p...
by azianbob
Thu May 16, 2019 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: How do Bogleheads update their 401k contributions once they are able to max?
Replies: 19
Views: 1657

Re: How do Bogleheads update their 401k contributions once they are able to max?

If my 401k portal allows me to put in a dollar amount to contribute to the 401k, I select that. For instance, if I get paid 2 times a month, I would do $19,000 / 24 = 792 per paycheck. At the last paycheck they will cap it at $19,000. if I get paid every two weeks, I would do $19,000 / 26 = 731 per ...
by azianbob
Wed May 08, 2019 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: where to keep "extra" money?
Replies: 19
Views: 2317

Re: where to keep "extra" money?

If you expect to spend the money within 3-5 years, Purepoint has a no penalty CD giving 2.5%. You can keep all your money there and wait for a crash and then buy a bunch of stock or a house if prices come down. If you are not sure, you can just put all your extra money in VTI, its pretty tax efficie...
by azianbob
Wed May 08, 2019 11:59 am
Forum: Personal Finance (Not Investing)
Topic: HDHP vs Kaiser HMO
Replies: 25
Views: 1636

Re: HDHP vs Kaiser HMO

If you are healthy, the HDHP Premium sounds like a good deal based on numbers. With a $750 match it pretty much covers your premium plus any investment fees plus a bit more so as long as you just need annual physicals I think you come out on top. You can squirrel away $3500 a year in pretax money, a...
by azianbob
Wed May 08, 2019 11:50 am
Forum: Personal Finance (Not Investing)
Topic: GEICO assigning higher risk driver to more expensive car
Replies: 12
Views: 1722

Re: GEICO assigning higher risk driver to more expensive car

I have Farmers and we can assign any person as the primary driver to any car. The rates change based on the driver and car. But anyone named on the plan can drive any vehicle in the plan.

By switching around a couple drivers, we saved over $500 on the 6 month premium.