Search found 86 matches

by Workinprogress
Thu May 06, 2021 1:32 pm
Forum: Personal Investments
Topic: Trying to determine the value of long term care insurance for my situation
Replies: 3
Views: 348

Trying to determine the value of long term care insurance for my situation

I think my basic question is; Given the cost of the insurance vs the potential payout, does it make financial sense to self insure or buy insurance against the potential risk. There is no "peace of mind" factor for me, as I feel sure I will forever see the premium as a negative. Like nearl...
by Workinprogress
Sat Feb 20, 2021 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit
Replies: 321
Views: 25313

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Thank you for the information regarding the 500 hours, WoW2012. That makes perfect sense. I guess I will just not worry about the extra charges and continue with my own thoughts of self insuring. The kid in me thinks that I will never see a convalescent center any way. That is for all those other p...
by Workinprogress
Fri Feb 19, 2021 10:33 pm
Forum: Personal Finance (Not Investing)
Topic: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit
Replies: 321
Views: 25313

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

Thank you for the information regarding the 500 hours, WoW2012. That makes perfect sense. I guess I will just not worry about the extra charges and continue with my own thoughts of self insuring. The kid in me thinks that I will never see a convalescent center any way. That is for all those other pe...
by Workinprogress
Fri Feb 19, 2021 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit
Replies: 321
Views: 25313

Re: Washington State Long Term Care Trust Act - 0.58% payroll tax - $36,500 lifetime maximum benefit

So, for those of us that are not going to be fully employed for the ten year period to become eligible...Can we just get a W2 job for a couple weeks every year for the rest of our ten year enrollment period?
Kind of looks like that would make us eligible, for a small outlay of time and treasure.
by Workinprogress
Thu Dec 31, 2020 4:50 pm
Forum: Investing - Theory, News & General
Topic: Choosing a brokerage firm for accepting donations of stock to 501c3 organization
Replies: 9
Views: 382

Re: Choosing a brokerage firm for accepting donations of stock to 501c3 organization

Gifts from DAF's come in the form of a check, not shares of securities. Gill Thank you Gill. I did not know that. This is where I need to really express my gratitude for the guidance found on this forum. I really only thought of pursuing this type of funding through reading posts here. Raising fund...
by Workinprogress
Thu Dec 31, 2020 4:46 pm
Forum: Investing - Theory, News & General
Topic: Choosing a brokerage firm for accepting donations of stock to 501c3 organization
Replies: 9
Views: 382

Choosing a brokerage firm for accepting donations of stock to 501c3 organization

Greetings, I am on the board of a 501c3 organization. We would like to make it easy for donors to give shares of appreciated equities. We envision some could come from DAFs and others could be just normally held shares. Are there any special qualities that a brokerage firm should possess to fill thi...
by Workinprogress
Tue Dec 22, 2020 3:20 am
Forum: Personal Investments
Topic: decumulation with a twist
Replies: 7
Views: 1145

Re: decumulation with a twist

Since you mention gliding UP...I would think that the "278K Vanguard Total Bond Market (tIRA)" might be a good place to harvest.

I am admittedly a rank armature here though.
by Workinprogress
Mon Dec 14, 2020 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

Thank you one and all for your excellent analyses of my question. I really do appreciate the time and effort given.

All of the differing viewpoints give us more to work with in terms of making the plan that fits our lifestyle and combined risk tolerance.

Thank you.
by Workinprogress
Mon Dec 14, 2020 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

Given that you want to upgrade the plane and just want the best way to do it: I would use a fixed percentage Home Equity Loan, say 7 year loan. Loans are cheap now. You would need to reduce your Roth conversions, this gives you $10K/year to pay off the loan. Once your first mortgage is paid off (I ...
by Workinprogress
Mon Dec 14, 2020 1:21 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

If you had the new plane today would your maintenance cost be lower? What could you sell your existing plane for? If it was me, I would quit the Roth conversions and use income to buy the plane with a loan to cover the gap. By your own admission it is not a wise investment, so you don't have to be ...
by Workinprogress
Mon Dec 14, 2020 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

If this is a liquidity question HELOC and possibly 401K loan(s) are reasonable options to consider. Also seems easy to stop pre-paying taxes for a few years (e.g. Roth conversions). You can use multiple sources to get the cash, it does not have to come from one account. Some will frown on the conce...
by Workinprogress
Mon Dec 14, 2020 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

You've ignored the 800 pound (dollar) gorilla: What is your anticipated social security? You're only 7 years away from FRA. If SS+the draw from current portfolio will easily cover your anticipated expenses, then you have no real need to save even more, except for a larger cushion or to reduce your ...
by Workinprogress
Mon Dec 14, 2020 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

I think you should just use the Roth money but not "pay it back" like it was some sort of loan. If you have an opportunity in the future to do some more Roth conversions in the 12% federal tax bracket that would be great but that would be a separate decision and you would do that even if ...
by Workinprogress
Mon Dec 14, 2020 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

The "faster" way to accomplish your goal is to continue to work 2-5 years, and take out a home equity line of credit so that you have the cash to purchase the airplane now. Then, as future paychecks come in, use the money that you would otherwise save in retirement accounts to pay down th...
by Workinprogress
Mon Dec 14, 2020 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

Re: How does one make a very large purchase without borrowing from bank or retirement funds?

Wow, Thank you for all of the input. It looks to me like you could probably stop contributing to your retirement funds to pay for this. If your expenses are $70k and you have $1.5m but will continue working, you will have more than enough, especially once you add SS. One more out-there option though...
by Workinprogress
Mon Dec 14, 2020 3:19 am
Forum: Personal Finance (Not Investing)
Topic: How does one make a very large purchase without borrowing from bank or retirement funds?
Replies: 26
Views: 2950

How does one make a very large purchase without borrowing from bank or retirement funds?

Me 60 in a few months, DW 55. 1.5M in combined retirement accts. 400K tIRA, 225 ROTH, the rest tied to employment and unavailable. Home about 13K away from only owing taxes. Me 100K W2 just this year and DW 45K+ net sole proprietor. My employment is not in question and her skillset is in high demand...
by Workinprogress
Wed Nov 25, 2020 11:03 am
Forum: Investing - Theory, News & General
Topic: Silliest Investment Mistakes?
Replies: 171
Views: 16896

Re: Silliest Investment Mistakes?

How about WorldCom? Back when I was very first starting to invest, my Edward Jones advisor suggested I own about $5K worth of them. (about 30% of my portfolio) A good chunk of change for someone bringing home $20K annually. He failed to notify me and I knew not enough to watch, as it disappeared. Al...
by Workinprogress
Mon Nov 23, 2020 2:28 am
Forum: Personal Investments
Topic: 2020 roth ira planning
Replies: 3
Views: 512

Re: 2020 roth ira planning

I am just trying to understand the best practice for young investors with small portfolios. Time in the market. Get it in there. Slightly different scenario, but we just had RSUs vest - we sell as soon as they are released and buy index funds as soon as the funds are settled, independent of what th...
by Workinprogress
Tue Nov 17, 2020 12:49 pm
Forum: US Chapters
Topic: Veterans Day Humor
Replies: 1
Views: 569

Re: Veterans Day Humor

Thank you for taking the time to share your Father in laws and now your story. Story telling is a great tradition.
by Workinprogress
Tue Nov 17, 2020 12:42 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2401
Views: 285902

Re: Post your Financial Milestone Announcements Here

Hit 100k NW earlier this year, got a good job offer and possibly landing an even better one, and saved enough to move out of my parents' house to purchase my first apartment. I'm very grateful to have stumbled onto this community (long time lurker), my only regret is that I didn't learn to save and...
by Workinprogress
Thu Nov 12, 2020 12:57 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2401
Views: 285902

Re: So excited about reaching personal milestone and no one that I can tell.

..... And one more that is remotely financial. In the last twelve months I have lost 40 pounds, getting back to 155, less than my HS weight, with more muscle than I have had since USMC boot camp. All in hopes of living healthy/long enough to actually spend some of this money on more fun adventures....
by Workinprogress
Thu Nov 12, 2020 12:35 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2401
Views: 285902

Re: So excited about reaching personal milestone and no one that I can tell.

White Oak wrote: Wed Nov 11, 2020 10:19 pm Sounds like you are firing on all cylinders! Great work all around!
Very prophetic, am a Mechanic by trade. :happy
by Workinprogress
Wed Nov 11, 2020 10:16 pm
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 2401
Views: 285902

So excited about reaching personal milestone and no one that I can tell.

[Merged into the existing discussion -- moderator oldcomputerguy] This is not meant as bragging, especially on a forum where so many are well beyond my achievements. 2020 will be a year of many milestones for me. Three of the financial ones are; I am still in my 59th year and just today broke over ...
by Workinprogress
Tue Nov 03, 2020 12:46 pm
Forum: Personal Consumer Issues
Topic: Any Metal Detector users have a recommendation for a first tool?
Replies: 14
Views: 1070

Re: Any Metal Detector users have a recommendation for a first tool?

Thank you one and all, for your assistance.

The forum link was very helpful for things that I had not even thought of.

I ended up going over budget with the Minelab Equinox 600. I almost went way over, with the 800, but my frugal side won out.

Thanks again for the enabling.
by Workinprogress
Mon Nov 02, 2020 1:13 pm
Forum: Personal Consumer Issues
Topic: Any Metal Detector users have a recommendation for a first tool?
Replies: 14
Views: 1070

Any Metal Detector users have a recommendation for a first tool?

I have long been interested in this hobby and would like to try it out now. Yes, there was a tipping event, but I do not want to damage my credibility by sharing ;-) If I were to have $500 to spend on hobby toys, would I be able to get a decent tool? Any recommendations for an appropriate forum to l...
by Workinprogress
Fri Oct 30, 2020 3:28 am
Forum: Personal Investments
Topic: Retirement tax planning income thresholds identification
Replies: 6
Views: 680

Re: Retirement tax planning income thresholds identification

Thank you for the input. The linked pages are really good as well. Now to digest all of the little parts.
by Workinprogress
Thu Oct 29, 2020 9:56 pm
Forum: Personal Investments
Topic: Retirement tax planning income thresholds identification
Replies: 6
Views: 680

Retirement tax planning income thresholds identification

Wondering if I have all of the income restrictions correct for the different tax planning scenarios. I know that not all of these are unavoidable for my projected budget, but I just want to understand what I am buying before I get there. I am currently in the 70K area for Federal taxable income. I m...
by Workinprogress
Wed Oct 28, 2020 2:55 pm
Forum: Investing - Theory, News & General
Topic: first million [in your retirement portfolio]
Replies: 222
Views: 39441

Re: first million [in your retirement portfolio]

1) what age did you hit your first million in your retirement portfolio? My retirement accounts have been hovering near the "number" for most of 2020, but not broken it. I am 59.7yo. Maybe by 60??? 2) what age did you start? 34yo 3) was some of this savings inherited? self made? combinatio...
by Workinprogress
Fri Oct 23, 2020 5:46 pm
Forum: Personal Investments
Topic: Can retirement income requirements be estimated accurately easily?
Replies: 5
Views: 707

Re: Can retirement income requirements be estimated accurately easily?

Thank you for the inciteful responses and the link to a very similar query. I read through the responses to that one as well and got a better grasp on what I need to be doing.

Again, thank you for your help.
by Workinprogress
Thu Oct 22, 2020 10:32 pm
Forum: Personal Investments
Topic: Can retirement income requirements be estimated accurately easily?
Replies: 5
Views: 707

Can retirement income requirements be estimated accurately easily?

I am trying to get a handle on what my retirement income needs may be. To that end, can I just up my 12 bank statement payouts? I pay everything possible with a credit card. The cards are automatically payed from the bank account. I carry and spend way less than $600 per year of cash. If money is go...
by Workinprogress
Sun Sep 13, 2020 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: what is your side job and income?
Replies: 87
Views: 21405

Re: what is your side job and income?

My side job is pointing Bogleheads to the forum search box, where they'll find lots of threads like this one:

viewtopic.php?t=282559

Unfortunately this pays me nothing.
But on the other hand, you are very successful at it. :beer
by Workinprogress
Sun Sep 13, 2020 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Cash-Out Refi Metrics
Replies: 4
Views: 601

Re: Cash-Out Refi Metrics

Hi there,

I am no judge of the current cost of lending, but... that seems like a great deal of money to pay to get $93,900 in your pocket. Nearly 6.5%

Do you have any other options?
by Workinprogress
Wed Sep 09, 2020 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner daughter refinance and new spouse home equity rules going forward
Replies: 15
Views: 1394

Homeowner daughter refinance and new spouse home equity rules going forward

Greetings, Washington State resident Three years ago, my daughter purchased a home for about 350K (30 year note) with about 80K down payment. The home title is in her name only. One year ago, she was married. No prenup. She would like to refinance to lower her 3.75% interest rate and shorten the not...
by Workinprogress
Thu Mar 19, 2020 7:30 pm
Forum: Investing - Theory, News & General
Topic: Is now a good time for ROTH conversions?
Replies: 1
Views: 264

Is now a good time for ROTH conversions?

I have not seen this discussed in regards to the market downturn. If I was on the borderline of having a benefit by making a ROTH conversion, does this market make it more advantageous. My thought is that the market will rise, and I will be able to convert more shares today for the same dollar. Maki...
by Workinprogress
Fri Oct 25, 2019 12:46 pm
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

It looks like your advice to do the ROTH conversions after retirement and before SS is a good plan. I just am a bit confused/concerned about the higher income and what it does to health care costs. Further reading is in order, on that matter. What is your plan for healthcare coverage from retiremen...
by Workinprogress
Fri Oct 25, 2019 12:37 pm
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

Dottie57 wrote: Fri Oct 25, 2019 11:54 am Sock away as much as possible. Tax deferred, Roth, HSA if applicable and then taxable. You will be happy you did.
We are working on it. Thanks for the cheer leading, it always helps to hear an affirmation of your plan.
by Workinprogress
Fri Oct 25, 2019 12:35 pm
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

It's sort of a small point, but I'd try to reduce or eliminate the following fund in favor of a less expensive (lower expense ratio) bond fund in another tax deferred account. 13% MWTSX Metropolitan West total bond 110K (.37%) Regards, Thank you for your advice about treating the portfolio as a who...
by Workinprogress
Fri Oct 25, 2019 12:31 pm
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

Your second paragraph about the METWest fund really exposed my ignorance about under lying basics, having mentioned "market correlation", a term of which I am unfamiliar. Thank you for your knowledgeable evaluation of these funds. Let me take a stab. Market Correlation means what happens ...
by Workinprogress
Fri Oct 25, 2019 11:08 am
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

It's sort of a small point, but I'd try to reduce or eliminate the following fund in favor of a less expensive (lower expense ratio) bond fund in another tax deferred account. 13% MWTSX Metropolitan West total bond 110K (.37%) Regards, Thank you for your advice about treating the portfolio as a who...
by Workinprogress
Fri Oct 25, 2019 11:04 am
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

Addressing your second question, you have some nice options in your plans. I suggest consolidating your bonds in the traditional IRA to lower your overall expenses. I would also focus VTSAX in the Roth accounts, based on the assumption that domestic stocks will outperform global. That's not a given...
by Workinprogress
Fri Oct 25, 2019 10:51 am
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

Because you are MFJ, you should definitely put $14,000 ($7000 for each of you) into Roth before you put anything in taxable. You can withdraw contributions before age 59.5 if you retire early. All growth is tax-free and withdrawals aren’t included in your modified adjusted gross income (MAGI) for m...
by Workinprogress
Fri Oct 25, 2019 10:46 am
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

It is good to have tax diversified accounts and from that perspective it would be good to have more savings in a Roth account or Taxable account. It would give you more flexibility to control taxable income in retirement. Access to your funds for retirement spending won’t be an issue. Does your 457...
by Workinprogress
Fri Oct 25, 2019 10:41 am
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

Given the plethora of exceptions to the age 59 1/2 rule, I would be VERY hesitant to pass up on a retirement account contribution in order to invest in a taxable account, especially if you're already in your 50s. Google SEPP rule and you'll likely feel pretty reassured about that approach. Thank yo...
by Workinprogress
Fri Oct 25, 2019 10:37 am
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Re: Should I have money in a taxable account for retirement spending diversification?

You have total assets of 1.15 million in mostly tax deferred assets, and you are also coming up to the age 59.5 soon. Pension = 12k per year, and a 4% withdrawal on 1.15 million = $46k, for a cumulative safe income of $58k per year. Is this $58k per year sufficient for your projected retirement lif...
by Workinprogress
Thu Oct 24, 2019 3:18 pm
Forum: Personal Investments
Topic: Should I have money in a taxable account for retirement spending diversification?
Replies: 20
Views: 1533

Should I have money in a taxable account for retirement spending diversification?

Greetings, Two questions; First, I am contributing 25,000 to my 457 acct annually, employer only matches up to 50% of 9,500. Should I be taking some of the excess above employer match and deploying it to a taxable acct for retirement withdrawal diversity? Currently no Taxable funds outside 20-30K in...
by Workinprogress
Wed Jul 31, 2019 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Death before Taxes are Due and No Heirs
Replies: 11
Views: 1341

Re: Death before Taxes are Due and No Heirs

I must be of too frugal a mindset..I cannot imagine being able to burn through a million in less than a year, especially if I were ill enough to die soon.
by Workinprogress
Thu Jul 25, 2019 2:17 am
Forum: Personal Finance (Not Investing)
Topic: How do you deal with looking bad compared to others?
Replies: 77
Views: 5782

Re: How do you deal with looking bad compared to others?

It's not about keeping up or anything. Your friends/family that do this are jerks. You recognize this, but instead of addressing the nasty snide behavior, you feel the need to ignore and let them keep making nasty rude remarks. So either laugh it off and make it a joke or nicely and firmly call the...
by Workinprogress
Thu Jun 06, 2019 1:52 pm
Forum: Personal Consumer Issues
Topic: How to pay electrician
Replies: 38
Views: 3765

Re: How to pay electrician

My thought is that while it is always hard for me to get a bill for more than I expected, in this instance I would pay and move forward. After reading here for a while, I imagine myself to be one of the least affluent and definitely the most miserly. This is a bill I would not hesitate to pay. Reaso...
by Workinprogress
Sun Jun 02, 2019 12:12 am
Forum: Personal Consumer Issues
Topic: Driveway Stain - What is it?
Replies: 11
Views: 1280

Re: Driveway Stain - What is it?

Not likely AC condensate, that is just water from the air. Many newer work vehicles have a radiator surge tank on the firewall. More on the passenger side than the driver side that has the brake booster in the way. Antifreeze will soak into the surface and leave a mark for a while. Next, it may have...
by Workinprogress
Thu May 23, 2019 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Are you missing a $15,000 payment from CRB FREEDOM?
Replies: 28
Views: 5238

Re: Are you missing a $15,000 payment from CRB FREEDOM?

Posting to follow. if there is a way to mark a thread to follow it without posting please let me know. Look directly below this post and see a wrench. Click on the wrench and I think four choices show up. Click the subscribe to remove the check, and you are following. (Kind of counter intuitive to ...