Search found 354 matches

by cshell2
Wed Apr 08, 2020 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Dependent FSA contributions during Covid19?
Replies: 8
Views: 413

Re: Dependent FSA contributions during Covid19?

I've been thinking about this since afterschool care first ended back in early March. I only put 2K/year in and typically my expenses are about $2600. I could easily spend it all on specialty camps this summer if I wanted to, but now all that is up in the air. If I do pause it I'll probably have to ...
by cshell2
Thu Mar 12, 2020 10:36 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

Gah. Now I'm fighting the urge to buy back in after the drop. :oops:
by cshell2
Mon Mar 09, 2020 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: Choosing a university/college for my son a future Computer Science Major
Replies: 102
Views: 7148

Re: Choosing a university/college for my son a future Computer Science Major

As someone in nearly identical position as OP, I am keenly following this thread for responses. I do not wish to hijack this thread but will offer the background for comparison. My son is a HS junior with interest in CS, his SAT score is above 1500, he hasn't given an ACT yet but I believe will do ...
by cshell2
Sat Mar 07, 2020 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Choosing a university/college for my son a future Computer Science Major
Replies: 102
Views: 7148

Re: Choosing a university/college for my son a future Computer Science Major

How did you come up with this list? It seems very random. A lot of those schools your son doesn't have the stats to get into and is missing ones I would have on there if searching from IL. University of Minnesota has a top 50 CS program and would be more of a match academically than a lot of them on...
by cshell2
Tue Mar 03, 2020 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Making public vs. private high school decision
Replies: 59
Views: 3296

Re: Making public vs. private high school decision

In this situation I would choose public (and I have a kid in private high school). You have a great public option and she's a great student, so she should be able to excel there. I just don't see that you'll get any added value out of the 30K/year cost. Plus, there can be drawbacks to small private ...
by cshell2
Tue Mar 03, 2020 1:14 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

ruralavalon wrote:
Tue Mar 03, 2020 11:48 am

I suggest that you use that fund in your 401k account to increase your bond allocation.
Thank you. I will strongly consider doing just that.
by cshell2
Tue Mar 03, 2020 11:51 am
Forum: Personal Investments
Topic: Prudent to move to more conservative 529 allocation?
Replies: 13
Views: 573

Re: Prudent to move to more conservative 529 allocation?

I would be perfectly comfortable with those allocations. My son starts college this Fall and his age-based fund is still 20% stocks at this point. Last week's downturn barely scratched it. My 9 year old's is 63% stocks. No worries at all. Now, the grandparents have an UTMA for my oldest for college ...
by cshell2
Tue Mar 03, 2020 11:23 am
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

What bond funds are offered in your employer's 401k plan? Please give fund names, tickers and expense ratios. There are good actively managed bond funds sometimes found in 401k plans, which might be useable in spite of higher expense ratios than we normally see for bond index funds. I haven't looke...
by cshell2
Tue Mar 03, 2020 11:11 am
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

What does the Social Security Administration estimate that your Social Security benefit will be? $1187/month at 62 $1729/month at 67 $2164/month at 70 If it helps, I'm fairly low income. I make between 40-50K/year and save over half of it, so I probably only need 3-4K/month to be pretty comfy. How ...
by cshell2
Tue Mar 03, 2020 8:52 am
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

Connecting the dots in your comments. You've already said your AA was skewed by a false sense of security in a rising market and that you still plan to reduce more stocks in 6 months (for what reason, I'm not sure). But I'm guessing by how you anchor to previous prices, if stocks fell another 20% n...
by cshell2
Mon Mar 02, 2020 11:41 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

so 85/15 feels ok ...for now. until another drop like last week, at which point you realize 80/20 seems better? kinda how it’s sounding I don't know. Maybe, but I don't think so. Like I said, I don't typically sell. I never sold after the dot.com bust or during the 2008 correction. I just woke up t...
by cshell2
Mon Mar 02, 2020 9:46 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

ruralavalon wrote:
Mon Mar 02, 2020 7:05 pm

What does the Social Security Administration estimate that your Social Security benefit will be?
$1187/month at 62
$1729/month at 67
$2164/month at 70
by cshell2
Mon Mar 02, 2020 9:44 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

85/15 feels pretty ok for me. Maybe in 6 months I pull some more out of stocks. so 85/15 feels ok ...for now. until another drop like last week, at which point you realize 80/20 seems better? kinda how it’s sounding I don't know. Maybe, but I don't think so. Like I said, I don't typically sell. I n...
by cshell2
Mon Mar 02, 2020 6:27 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

A better question is how does anyone get comfortable buying bonds right now? Seems a whole lot scarier than buying equities. BND has a yield around 2% - that is akin to paying 50x earnings for a product that can't grow its earnings. The stock market is trading at 18.9x 2020 earnings assuming no gro...
by cshell2
Mon Mar 02, 2020 6:26 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

Passive income always goes well with a 100/0 allocation during retirement. OP: What is your plan for passive income sources in retirement? Pension? Rental properties? Business income? -TheDDC Yeah...that would be nothing. Social security I guess. If it helps, I'm fairly low income. I make between 4...
by cshell2
Mon Mar 02, 2020 6:24 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

85/15 feels pretty ok for me. Maybe in 6 months I pull some more out of stocks. so 85/15 feels ok ...for now. until another drop like last week, at which point you realize 80/20 seems better? kinda how it’s sounding I don't know. Maybe, but I don't think so. Like I said, I don't typically sell. I n...
by cshell2
Mon Mar 02, 2020 5:04 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

I personally couldn't bring myself to sell after the market went down like this That's why I suggested an alternative - making all new contributions fixed income. But the OP seems to be all over the place, I don't know what the goals and targets are, if there are any. How do you figure I'm all over...
by cshell2
Mon Mar 02, 2020 4:40 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

If it's too hard psychologically to sell, set a target AA and invest all new money in fixed income until you get to the target. The reason I don't like this plan is that I think you should keep buying stocks at regular intervals while they are off of their recent peak. Buying high and selling low (...
by cshell2
Mon Mar 02, 2020 4:17 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

OP, You want to change you AA because of market conditions not because you think you are being aggressive. Are you confident that you are not going to change again when the market changes? I really don't know. I was 80/20 in the past, but several years back I changed my allocations in my 401K and w...
by cshell2
Mon Mar 02, 2020 2:48 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

I procrastinated and let it go Are you sure that's what you did, or did you leave it alone because stocks have been on a tear until just recently and wanted the higher returns that came along with a 90/10 allocation? I think it's important to know exactly why you left things alone so the same behav...
by cshell2
Mon Mar 02, 2020 2:38 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

RIGHT NOW if you sell equity, you will loss big as the market dropped.... For your age, I don't know why you selected a 92/8 allocation. It is away too risky. If you don't need the money anytime soon, why worry about market? I was not always 51 years old. :happy I would not really "lose big" if I s...
by cshell2
Mon Mar 02, 2020 2:30 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

Re: I know I shouldn't sell but...

manatee2005 wrote:
Mon Mar 02, 2020 2:22 pm
How long until retirement?
Probably 13 years.
by cshell2
Mon Mar 02, 2020 2:20 pm
Forum: Personal Investments
Topic: I know I shouldn't sell but...
Replies: 79
Views: 7796

I know I shouldn't sell but...

Earlier this year I started to get a little nervous about my AA. I'm 51 and currently it's at about 92/8. I procrastinated and let it go and of course now I'm not so sure if I should just let it be for the time being or sell off some stocks to bring me closer to where I'd like to be (80/20 or maybe ...
by cshell2
Fri Feb 28, 2020 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Need to complete FAFSA if already have scholarship?
Replies: 24
Views: 1306

Re: Need to complete FAFSA if already have scholarship?

jaybee9 wrote:
Fri Feb 28, 2020 12:49 pm

FWIW, this is at a large private university. I emailed them last weekend and got kind of a "it's a moot point since deadline is past".
How can the deadline be passed? You can still file FAFSA up until the end of the 2020-2021 school year.
by cshell2
Fri Feb 28, 2020 9:46 am
Forum: Investing - Theory, News & General
Topic: who is worried and feels like selling stocks?
Replies: 254
Views: 18706

Re: who is worried and feels like selling stocks?

I've been investing for 25-30 years and never legit felt like bailing until this week. The last two corrections didn't phase me at all, but apparently being 92% stocks at 51 is beyond my comfort level after all (hard to see that when it's just going up).
by cshell2
Thu Feb 27, 2020 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Pay off credit card bill before I actually recieve the bill? Credit rating implcations?
Replies: 23
Views: 1952

Re: Pay off credit card bill before I actually recieve the bill? Credit rating implcations?

It doesn't matter.

Also, I've never had the balance reported to the credit card bureau be the statement balance. I'm assuming the credit card companies report balances at some random day in the month not related to statement date.
by cshell2
Sat Feb 22, 2020 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Student Loan Strategy vs Paying Down Debt
Replies: 19
Views: 1126

Re: 529 Student Loan Strategy vs Paying Down Debt

Did IL adopt the law allowing 529 funds to be used for paying student loans? My state claws back any prior tax breaks for K-12 or student loans.
by cshell2
Sat Feb 22, 2020 5:41 am
Forum: Personal Finance (Not Investing)
Topic: Need to complete FAFSA if already have scholarship?
Replies: 24
Views: 1306

Re: Need to complete FAFSA if already have scholarship?

You may want to call the school’s financial aid office for a definitive answer. Don’t take a chance with a full scholarship! Yeah I will reach out to them I think. It was a merit scholarship so still doesn't seem like it would be needed. Some schools require FAFSA be filled out even for merit. Not ...
by cshell2
Fri Feb 21, 2020 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Use caution to not incorrectly pay taxes on 529 distribution in TTax
Replies: 30
Views: 2589

Re: Use caution to not incorrectly pay taxes on 529 distribution in TTax

I thought that the standard deduction of $12,200 did not come into play when calculating kiddie taxes. It comes into play in that if the standard deduction covers all the taxable income (including taxable scholarships), there is no requirement to file a return and therefore there is no need to calc...
by cshell2
Thu Feb 20, 2020 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Downside of switching credit cards?
Replies: 10
Views: 745

Re: Downside of switching credit cards?

Be careful you keep the old cards active. I had a couple of my "old timers" closed on me with no notice due to inactivity which really put a ding in my credit. My average age of open lines went from something like 12 years to less than 4.
by cshell2
Thu Feb 20, 2020 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Why doesn't everyone own a home as a business and rent elsewhere?
Replies: 57
Views: 7206

Re: Why doesn't everyone own a home as a business and rent elsewhere?

I have zero desire to be a landlord. Being a renter is starting to sound a little more appealing as I get older and more sick of dealing with maintenance, however, I have never rented in my life, so I'm sure there are drawbacks I'm not thinking of. Plus, I have all kinds of critters including horses...
by cshell2
Thu Feb 20, 2020 8:28 am
Forum: Personal Finance (Not Investing)
Topic: Understanding the IRS savers credit
Replies: 17
Views: 1842

Re: Understanding the IRS savers credit

welderwannabe wrote:
Wed Feb 19, 2020 2:54 pm
How many people making $38,000 a year have a tax liability after factoring in the std deduction anyways?
If there weren't other credits, everyone.
by cshell2
Tue Feb 18, 2020 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Am I "Covered" Under Employer's 401k Plan If Employer Contributes But I Do Not?
Replies: 12
Views: 830

Re: Am I "Covered" Under Employer's 401k Plan If Employer Contributes But I Do Not?

In addition, was box 13 on your W2 checked? "Covered" is a misleading term that even the IRS improperly uses. Only the term "active participant" exists in the tax code. @rhisky's post makes it clear that you are an active participant. Why are you not contributing to your 401k? Box 13 on my W2 was n...
by cshell2
Tue Feb 18, 2020 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Had a baby and received generous check from her great grandparents. Now what?
Replies: 157
Views: 11490

Re: Had a baby and received generous check from her great grandparents. Now what?

It was a gift for the child, with the check written to the child. The funds belong in a UTMA account or in an irrevocable trust with the child as the beneficiary. Check in a child's name can be deposited into a parent's account. If the parents are disciplined (I presume they are posting on BogleHea...
by cshell2
Mon Feb 17, 2020 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Had a baby and received generous check from her great grandparents. Now what?
Replies: 157
Views: 11490

Re: Had a baby and received generous check from her great grandparents. Now what?

Any gifts my kids got went into an UTMA account. If financial aid might be a possibility, money in the student's name is hit really hard unless it's a 529. Then it is assessed at the parent rate which is only a 1/4 of the student one.
by cshell2
Mon Feb 17, 2020 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Should you always use a 529?
Replies: 104
Views: 14701

Re: Should you always use a 529?

Even if your kid doesn’t use it, your grandkids or nieces and nephews may. I don’t agree with using 529 for nieces and nephews. It’s basically a transfer of wealth from you to your siblings, or worse, siblings of your spouse. I suppose you don't believe in gifting either right? +1 I already have a ...
by cshell2
Mon Feb 17, 2020 8:44 am
Forum: Personal Finance (Not Investing)
Topic: Should you always use a 529?
Replies: 104
Views: 14701

Re: Should you always use a 529?

Good point. I think we're unlikely to qualify for fin-aid at all though either way (Bay Area--high COL, higher than average salary). Merit Scholarships are his only hope in that regard. From what I've heard, there are literally thousands of scholarships out there that don't involve need. I know of ...
by cshell2
Sun Feb 16, 2020 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Should you always use a 529?
Replies: 104
Views: 14701

Re: Should you always use a 529?

Once the roth ira and 401k are maxed out, 529 is often the next major tax shelter for professional high income earners. It is a fantadtic tax break for the wealthy top 3-5% of income households. No annual contribution limit. I have a few investment banking friends in their thirties who can use 529 ...
by cshell2
Wed Feb 12, 2020 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

Yep. Precisely 5%. Well, actually, it's a little more complicated. Some of your 100K were excluded, and student's 40K were taxed higher (you can see that in family/student contribution break-down). That is still 30K you wouldn't have to pay if the money were in retirement accounts. It's also 140K I...
by cshell2
Wed Feb 12, 2020 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

That may be the case for FAFSA, but schools giving out institutional grants use CSS. You mean the elite meets full needs schools. We got institutional grants from 4 of the 5 schools DS applied to. All FAFSA state schools. I am not saying some need-based grants are not available at FAFSA schools - t...
by cshell2
Wed Feb 12, 2020 11:29 am
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

Vulcan wrote:
Wed Feb 12, 2020 11:14 am
That may be the case for FAFSA, but schools giving out institutional grants use CSS.
You mean the elite meets full needs schools. We got institutional grants from 4 of the 5 schools DS applied to. All FAFSA state schools.
by cshell2
Wed Feb 12, 2020 11:00 am
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

We put away $1250/month, in total, for three kids. We built up to this. We don't completely max out retirement accounts but come close. Take that boggleheads :twisted: If you come close enough where the available space is a lot less than $1250/month, that's ok. But if you could instead put a chunk ...
by cshell2
Wed Feb 12, 2020 9:48 am
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

Keep in mind that due to the prior prior year thing for financial aid you need to have an idea if you have a Harvard kid sophomore year in high school. By the time the acceptance letter shows up you'll already have financial aid "set" for their first two years of college.
by cshell2
Wed Feb 12, 2020 9:18 am
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

Come to the Northeast where median's don't count. State schools cost over $20K per year, try more like $29K and growing. The problem is there is too much liquidity available with the only criteria being: warm body and wants to attend college. Student loans are not underwritten in a traditional sens...
by cshell2
Sat Feb 08, 2020 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 968
Views: 131599

Re: How much money do you want to retire?

This thread has been around so long that I've probably replied two or three times already. But, my answer is 1.2 M Not sure if I'll make it. I have around 535K now at age 51, so in theory it shouldn't be hard to double it in 14 years, but I'm also really sick of working already and 65 seems so far a...
by cshell2
Fri Feb 07, 2020 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

Come to the Northeast where median's don't count. State schools cost over $20K per year, try more like $29K and growing. The problem is there is too much liquidity available with the only criteria being: warm body and wants to attend college. Student loans are not underwritten in a traditional sens...
by cshell2
Fri Feb 07, 2020 6:29 pm
Forum: Personal Finance (Not Investing)
Topic: Couples w/ kids: What is/was the most expensive time period of your life?
Replies: 145
Views: 11850

Re: Couples w/ kids: What is/was the most expensive time period of your life?

Our kid is still young. We will pay for in-state tuition. If our kids think it makes sense to spend 4-5x for the same piece of paper they are on their own. It is possible we will retire before they are in NYS colleges and we will be under the (current) 125k income threshold for free tuition. Kind o...
by cshell2
Fri Feb 07, 2020 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Received 1099-DIV for deceased spouse
Replies: 10
Views: 1197

Re: Received 1099-DIV for deceased spouse

It's below the threshold for filing, so I'd just ignore it. I ignored my kid's 1099's until they were over the $1100 or whatever amount it is for unearned income before you have to file.
by cshell2
Fri Feb 07, 2020 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

The Vanguard calculator above spits out some ridiculous numbers for cost of college (~$700k for 4 years at MIT / Harvard for example). I think something has to give before we get to that point, we're already seeing politicians talk about making college free, or waiving college tuitions. I don't thi...
by cshell2
Fri Feb 07, 2020 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: How much do I need in my 529 per child?
Replies: 78
Views: 6153

Re: How much do I need in my 529 per child?

It really pays to actually research costs. We hear constant horror stories about the $50k+/yr institutions and those with huge school debt, but the reality is the median cost of a year of tuition for public schools in this country is just a hair over $10k/yr and the average debt of a recent grad (w...