Search found 186 matches

by medic
Fri Feb 11, 2022 12:05 pm
Forum: Personal Finance (Not Investing)
Topic: At what point does one stop "making ends meet"?
Replies: 42
Views: 5913

Re: At what point does one stop "making ends meet"?

Take it as a math problem. Just maxing 401k, ROTH, HSA will require about $31K of income if single. More if it's all post-tax money being put in. Add to that your living expenses. That's your min target income level, but I doubt that's making you feel really ahead especially if you're comparing yourself to others. I recall my first years out of college, getting my $65K and thought I ruled the world. Got to the office and notice the other new hires with new BMWs, going out to bars each night, swank condos, etc while I was driving the car my parents bought when I was in high school, drinking one step up from the college swill at home, and living in a normal garden style suburb apartment complex. It felt like I was doing something wrong, but I...
by medic
Mon Jan 24, 2022 9:28 am
Forum: Personal Consumer Issues
Topic: retaining wall
Replies: 11
Views: 1344

Re: retaining wall

Also, if you put a retaining wall in, you will also need drainage around it. Water will seep through or be graded away from a wall, but is heavy and exerts a significant pressure. For walls, if above a certain height (4 ft around here) you'll need plans reviewed and almost certainly they'll be looking to see proper drainage.
by medic
Wed Jan 12, 2022 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone feeling "bored-out" with work?
Replies: 105
Views: 15191

Re: Anyone feeling "bored-out" with work?

ThankYouJack wrote: Wed Jan 12, 2022 4:23 pm part of me is thinking about semi-FIREing to something part-time like a Park Ranger or some physical work.
I think this is often called "barista-FIRE", a basic job that provides limited income/stress to augment your nest egg.
by medic
Mon Jan 10, 2022 3:42 am
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with career
Replies: 20
Views: 4590

Re: Not sure what to do with career

Goldwater85 wrote: Thu Jan 06, 2022 7:22 pm This isn’t 1960. If you’ve hit a dead end with your current employer, it’s time to look elsewhere. Maybe it’s not FAANG—you can afford to wait and be choosy; you can also afford the risks of a start up. But in 2022, hopping up the ladder is frequently easier than climbing.
The goal is not to climb. If that happens it happens, but staying in middle-management or even returning to be individual contributor is fine.
The intent is to continue to contribute. Current org behavior makes effective contribution difficult.
by medic
Mon Jan 10, 2022 3:38 am
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with career
Replies: 20
Views: 4590

Re: Not sure what to do with career

jaqenhghar wrote: Thu Jan 06, 2022 5:26 pm OP, is it the micro-managing that is the source of the waning motivation at this job, or something else?
The micro-managing along with unclear/shifting expectations across multiple layers of management.
by medic
Wed Jan 05, 2022 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with career
Replies: 20
Views: 4590

Re: Not sure what to do with career

Thanks all.
Happily married, early 40s, wife a few years older. Both healthy.
Kids have about 4 and 10 years left before college. 529s fully funded.
HCOL area.
Current compensation ~$400-450K

I thought career coaches were for folks stalled in their career and wanting to move up. I don't lack the skills to move up, just the motivation. Will look into it, but if there are any recommendations, please PM me.

A sabbatical maybe warranted. I took two with my prior employer and the separation did help decompress, but I was never lacking motivation in those roles.
by medic
Tue Jan 04, 2022 7:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can I quit working?
Replies: 47
Views: 7398

Re: Can I quit working?

carloslando wrote: Mon Sep 20, 2021 10:10 am My husband has good life insurance from work and we have an external policy as well (20 year, $2M) to supplement it.

Were you thinking of switching to single income as well, or were you both thinking of quitting?
We're already single income, so it would be both "retiring"
by medic
Tue Jan 04, 2022 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: Not sure what to do with career
Replies: 20
Views: 4590

Not sure what to do with career

Last year, I changed jobs at my megacorp. I'd been in the prior team for years. The work was getting routine and not challenging/motivating. New team has been challenging from a management/org perspective. It's basically getting micromanaged from two-three levels above. I do the work, but have no motivation and am basically punching the hours on the clock. I face a couple of other challenges. 1) My personality tends to want to push ahead. Reason for changing team last year was to put some challenge back in the day. I was effectively at 3-4 days of work/week despite a full time pay. With current job, I catch myself suggesting ideas and creating more work for me despite overall not being motivated in the role. 2) I really have nothing to reti...
by medic
Tue Jan 04, 2022 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Real estate syndicates: Talk me into (or out of) it
Replies: 42
Views: 8003

Re: Real estate syndicates: Talk me into (or out of) it

Coincidentally, two of my friends recommended we get into syndicates to diversify our portfolio. Glad I found this thread. Any updated figures to share? What was the returns from your first deal? Do you regret putting money in it the last few years when the market did so well? Love to hear your thoughts. Put in $50K in 2017 for a single property Got back $83K in 2020 when property sold Put in $100K in 2019 into a 4 property deal Got back $65K in 2021 when one property sold. Still have 3 more to sell. The property basically doubled in value in 2 years which I think it more a reflection of the market than anything savvy the syndicator did. Yeah, there's a lot of institutional money looking for hard assets. I sat on investing in some opportun...
by medic
Tue Jan 04, 2022 4:43 pm
Forum: Personal Finance (Not Investing)
Topic: Real estate syndicates: Talk me into (or out of) it
Replies: 42
Views: 8003

Re: Real estate syndicates: Talk me into (or out of) it

Planner41 wrote: Fri Dec 10, 2021 1:44 pm Like you, I was/am interested in syndications. I have been initially scared off by the hassle of dealing with K1's and filing additional state tax returns. I have dealt with K1's in the past and they always seemed to be late, making tax prep a serious PIA. So far the deals I have looked at had property in multiple states. Perhaps the tax pain would not be so bad if the property/properties were in a single state or your home state.

Good luck. I will certainly follow this thread.
You can also look at investing in states with no income tax. Texas, Washington, Florida, etc.
by medic
Mon Sep 20, 2021 2:29 am
Forum: Personal Finance (Not Investing)
Topic: Can I quit working?
Replies: 47
Views: 7398

Re: Can I quit working?

Consider evaluating your husband's life insurance and disability (probably pretty good in big tech, but you may need to supplement). While you are fine, if anything were to happen to the income stream and you didn't/couldn't return to the office, you'd have the remaining mortgage, child expenses, etc to still cover without tapping the nest egg. Expenses may decrease, but probably not proportionally. To Simple Simon's question, we have a similar net worth, income, and spending level as the OP's single income setup. I'm toying with the idea of stopping, but the wife isn't on board yet. The main items are social and future uncertainty (both on wants and unexpected occurrences - rebuild after earthquake, support for aging parents, etc). I think...
by medic
Thu Sep 02, 2021 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Is this a red flag for this job offer?
Replies: 12
Views: 2235

Re: Is this a red flag for this job offer?

Have you actually had a chance to speak with the manager/IC? Interview him to judge for yourself what his personality and behavior is wrt ceding control
by medic
Fri Jul 09, 2021 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Buying home while working towards FI
Replies: 39
Views: 4196

Re: Buying home while working towards FI

If you're looking to payoff, a better approach maybe to fund with cash flow that you've already been taxed on. For example, use your annual bonus to take down the principal vs investing that. Your portfolio won't grow as fast, but you also will have a lower target before payoff. Also consider that when you FI, you may want less house, different location, etc. FWIW, we did payoff our home a few years after we bought it mainly because we had cash flow that I wasn't willing to risk in the market. I also used my house as a "negative bond" in my analysis of our allocation. And $2M at a 4% SWR is 80K. That can work. We're in a VHCOL area and live happily with a family at ~90K/yr; your tastes may run higher or lower. But realize though t...
by medic
Fri Mar 26, 2021 3:47 pm
Forum: Personal Consumer Issues
Topic: High ranked Univ with liberal arts major or lower ranked school with STEM major
Replies: 121
Views: 10811

Re: High ranked Univ with liberal arts major or lower ranked school with STEM major

Let me preface by saying that, after your first job, hardly anyone cares or looks at where you went to school. I've interviewed people form MIT that can't engineer their way out of a office and folks from State U that just rock. I went to one of the Tier 1 schools you list in engineering. The advantage is the name, therefore all companies will come recruit on campus. It's the career center and research opportunities that stand out. But every company assumes they're hiring intelligence, not a set of useable skills. Sure, you can code, but you still need to learn their systems, methodology, architecture, etc. In that sense, companies would consider anyone with ability to solve problems and that's taken CS101 and 201 for an internship. Land th...
by medic
Fri Feb 26, 2021 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Looking For A "Rule Of Thumb" For How Much College Can I Afford
Replies: 45
Views: 3386

Re: Looking For A "Rule Of Thumb" For How Much College Can I Afford

You should have an idea of what you're aiming for. Personally we've told our kids (younger) that they've got to have a plan. It may change, but you don't start anything without some idea of where you're going. If you're going to go on a walkabout, don't do it when borrowing money. What do people do with biology degrees? I suppose maybe consulting or something where they're basically retraining you, maybe computer programming if they're into that, but usually it means they're going to med school or a masters/phd of some sort. If nothing else, what's the median income for students with biology degrees from the school they're considering for the past 5-10 years? If the school career center can't provide that, it's not a school I'd consider as ...
by medic
Tue Feb 23, 2021 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity 2% Credit Card: [Update on Experiences, drops two benefits]
Replies: 169
Views: 20113

Re: Fidelity 2% Credit Card: Update on Any Issues or Experiences

SnowBog wrote: Sat Jan 16, 2021 7:18 pm Guess I must use my card too much to be targeted... :?
I get 2-3 targeted offers per year and use the card as our primary. Probably average $5-7K/month. Promos vary, but usually X bonus for Y spend in a certain time. Nothing amazing. We have gotten free screenings and other local event tickets which kids think is really cool.
by medic
Thu Feb 18, 2021 9:33 am
Forum: Personal Investments
Topic: Cold feet before dumping 25K into crowdfunding real estate?
Replies: 52
Views: 9882

Re: Cold feet before dumping 25K into crowdfunding real estate?

Very helpful. If I live in OR, the property is in ID, do I pay Idaho tax? Crowdstreet is based in OR, is the income from an investment such as this “sourced” in OR or ID? I hate filing multiple state returns :oops: You're not investing in Crowdstreet, they're just a conduit. Your investment is in the property. You will pay tax in the state where the property is located. You'll get a K1 and then file state taxes. I have several syndications I'm in - two from crowdstreet. I think I'm up to about 8 states now. Really doesn't take much energy to file the states though I'm probably switching to a CPA this year because I'd rather spend my energy elsewhere. If you want to avoid the state tax filing, pick investments in income tax free states - TX...
by medic
Tue Feb 16, 2021 2:07 pm
Forum: Personal Consumer Issues
Topic: all realtor competent in escalation clause to offer?
Replies: 22
Views: 5183

Re: all realtor competent in escalation clause to offer?

As someone who bought in a bidding war in Oct 2020 and sold with several offers two months later, I know it can be frustrating as a seller. Total price was 5% over asking price. We don't know what the other bidders bid. That's what an escalation clause covers. At the end of a good negotiation, both sides want to know they settled on something that was sustainable for both sides. Matters more for recurring negotiations, but even for one off deals like a house purchase it can help provide positive sentiment and offset issues when buyer feels some misrepresentation occurred. An escalation clause says, I bid X. I'm willing to go to X+YZ. Assuming someone else has bid more than X, consider my bid X+Z; do this up to Y times. It's not multiple cy...
by medic
Mon Feb 15, 2021 3:07 am
Forum: Personal Consumer Issues
Topic: all realtor competent in escalation clause to offer?
Replies: 22
Views: 5183

Re: all realtor competent in escalation clause to offer?

rascott wrote: Sun Feb 14, 2021 8:11 pm A seller has really very little to gain by disclosing the details of other offers, so typically you aren't ever going to know.
Why? I can understand not wanting to scare off potential bidders, there's a lot of emotions in house purchases and people get attached early which causes them to overpay. But in a case where you know the home is hot and will get multiple offers, why not disclose highest offer assuming no other contingency variables?

In the OPs case, had the listing agent informed the other agents that there's a higher offer in play, they could have extracted more. It's not in the realtor's interest (more work, for $1000*.03 = $30 more), but it's worth more for the seller.
by medic
Tue Feb 02, 2021 1:26 pm
Forum: Personal Consumer Issues
Topic: personal website for physician
Replies: 15
Views: 1726

Re: personal website for physician

Even with PCP recommendation, I still check on the doc. My PCP doesn't say why he suggests XYZ and it could have no reflection on the specialist's medical ability - could be they're golf buddies, he's someone he networked with, etc. I suspect younger folks are even more likely to google the doctor beforehand.

A website doesn't cost much to build/maintain.

--
Despite my username, I'm not in the medical industry
by medic
Fri Jan 29, 2021 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Real estate syndicates: Talk me into (or out of) it
Replies: 42
Views: 8003

Re: Real estate syndicates: Talk me into (or out of) it

I have about 25% of my portfolio in a variety of syndicated deals ranging from a $20K to $150K investment. I've only gone full circle with one deal so take this for what it's worth. As others have said vet the sponsor, their experience and track record. That's really what you're betting on. Look at the waterfall - when do you get paid. deals I've done have the investors getting paid before the organizer. Now the organizer always has their hands in the pot by paying for closing the deal, operating the property, etc, but the money comes in the sale for my deals. For most deals, I get paid a monthly/quarterly dividend and get made whole before the organizer. Others is a 80/20 or 70/30 split upon completion. The latter are usually ground up dev...
by medic
Tue Jan 26, 2021 9:41 am
Forum: Personal Finance (Not Investing)
Topic: How to get a bigger mortgage with lower income
Replies: 17
Views: 2103

Re: How to get a bigger mortgage with lower income

A SFH with an ADU or separated rental area is generally going to be a larger home. Access may also be an issue since those home generally have the separate living space accessible by stairs. Have you considered a smaller home where you actually live together, a duplex, or buying in the same condo?

Alternative is to ask lenders how they do this for retired individuals and see if they can apply those metrics to you. They do it in silicon valley where value is often based on locked up options that will vest in the future.

First article I found on approaches with low income and high assets.
https://www.cnbc.com/2020/09/01/heres-h ... ement.html
by medic
Mon Jan 11, 2021 8:11 am
Forum: Personal Investments
Topic: Portfolio Checkup (Parent with Short Life Expectancy)
Replies: 10
Views: 1109

Re: Portfolio Checkup (Parent with Short Life Expectancy)

Sorry to hear about your mother. Glad that she's still doing well.

To your question on AA, not sure I follow. The target is 75-25, but it's obviously more conservative right now. In that light, the AA is not correct; the cash and some of the total bond fund should be moved into the S&P fund.

Is the cash expected to cover her needs for the next few years?
Is the desire for more equities to grow the portfolio to generate a greater inheritance or something else?
by medic
Thu Jan 07, 2021 2:56 pm
Forum: Personal Investments
Topic: Strategy for selling company issued options?
Replies: 10
Views: 11496

Re: Strategy for selling company issued options?

personally, I'd look to minimize the tax which would be with tranche 1. depends a bit on if you expect to be in a higher tax bracket in the next few years.
by medic
Fri Jan 01, 2021 12:38 am
Forum: Personal Investments
Topic: How to co-purchase property for investment?
Replies: 8
Views: 1298

Re: How to co-purchase property for investment?

Banks generally don't want to lend to an LLC unless you've got a history with them or are an established business. Expect the bank to want the mortgage and title to be under you and not the LLC

You should also consider outlining the operating terms of the partnership - who's dealing with what, who manages the tenants/vendors, what to do when one of you wants to sell, etc.
by medic
Thu Dec 31, 2020 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: Struggling to Figure Out a Side Gig
Replies: 59
Views: 7590

Re: Struggling to Figure Out a Side Gig

For teaching, outschool.com. You can do live classes/tutoring, but a lot of courses are self-paced. This means you record a video and then proctor a class. Students do work they upload, send messages/questions, etc and you respond. Need some responsiveness, but not real-time and you can decide how many classes you want to offer/when. Not sure on the money, but I suspect it's a percentage of the course fee.
by medic
Thu Dec 31, 2020 6:41 pm
Forum: Personal Investments
Topic: UTMA gift rules
Replies: 14
Views: 1137

Re: UTMA gift rules

Gill wrote: Thu Dec 31, 2020 6:12 pm This is a common and acceptable technique. The only way it would be tax evasion if the proceeds were then returned to the donor/parent. OP has indicated this is not the case.
Gill
As I understand even this is allowed if it's for the reimbursement of expenses paid for the benefit of the child (e.g car, classes, etc) that the custodian may have paid first. For example, when my son wants(yet another) a new guitar we buy it at the store. Instead of dealing with the hassle of a check (no debt card option for his UTMA), I pay. His account then returns the money.
by medic
Thu Dec 31, 2020 7:15 am
Forum: Personal Consumer Issues
Topic: how to transition to part time?
Replies: 8
Views: 1130

Re: how to transition to part time?

The next thing is that the type, size, scope of the work you do may have to change. Ask yourself how the relationship with your coworkers may change (modulo covid, meaning watercooler chats, after work beers etc.) if you go down to 20 hours per week also. Thanks. No prior art that I've seen. I've seen some developers do this, but no managers in my product definition/customer engagements role. Will have to see how to sniff some out in other departments quietly. I've been thinking about this as just reduced days in the "office", but maybe a complete reevaluation of my role will be important. Not too worried about the co-workers. Yeah, I heard comments when we used to take a month off to Hawaii and I'm sure this will be no different...
by medic
Wed Dec 30, 2020 7:02 am
Forum: Personal Consumer Issues
Topic: how to transition to part time?
Replies: 8
Views: 1130

Re: how to transition to part time?

Thanks. Long way between CEO and manager. I knew long ago I wasn't willing to make the sacrifices for the c-suite, but it's still hard for me to mentally move from pushing yourself to coasting. I suppose it may be like moving from the accumulating to spending phase for investments.
by medic
Wed Dec 30, 2020 6:07 am
Forum: Personal Consumer Issues
Topic: how to transition to part time?
Replies: 8
Views: 1130

how to transition to part time?

Saw another post (https://www.bogleheads.org/forum/viewtopic.php?p=5688584#p5688584) and got me back to my internal debate about moving to PT. I'm kind of at the point financially of "enough". We're good at 4% SWR, but I'd like to get closer to 3% before calling it quits. I see burnout approaching quickly if I stay FT so I'd rather work a few more years at PT rather then running at my redline for fewer years and hoping my engine doesn't blow before we hit our 3% SWR number. I'd love to hear from people how they made the transition to PT. How'd you decide the hours, how'd you have the conversation with your management, how'd you hold the line and not work FT while getting paid PT, how'd you mentally shift out of career advancement ...
by medic
Wed Dec 30, 2020 5:04 am
Forum: Personal Finance (Not Investing)
Topic: Mis-priced Real Estate: Reason to rent?
Replies: 17
Views: 1877

Re: Mis-priced Real Estate: Reason to rent?

I find myself looking at where I want to live based on the lifestyle I want, and then weighing the costs be it buying or renting. I think that's the key piece. How do you want to live? From your post, I can't tell if you're intrigued by the specific Presidio properties or if would you feel this same way if you were at the Embarcadero or Russian Hill? One of the items I always disliked about rentals was the uncertainty. What if the landlord shifts rent or availability? Not sure how that works with these properties. Stability was/is important to me. Also, transaction costs in RE are high. Are you good with the crystal ball outlook for far enough to make the rental saving outweigh the flexibility? I know rents have dropped in SF recently, but...
by medic
Wed Dec 23, 2020 5:08 am
Forum: Personal Finance (Not Investing)
Topic: Starting a new business
Replies: 24
Views: 1842

Re: Starting a new business

Speaking as a customer, not a business owner, spend energy to get some clients and some business under you first.
A website/social media is nice, but in remodeling it's pictures that sell. Are you going to put up stock images possibly implying that's your work? If it's a 1990s style page with just a list of services and a contact form, perhaps pass and put that energy into getting some smaller jobs you can handle and start traveling the circles to get some quality subs for things you can't do.
by medic
Wed Dec 23, 2020 4:45 am
Forum: Personal Finance (Not Investing)
Topic: What would you do if you're disappointed about this probable job rejection?
Replies: 22
Views: 2904

Re: What would you do if you're disappointed about this probable job rejection?

I work for big tech and interviewed with two others recently for senior positions. In first case, no real feedback other than it wasn't a great fit. Both myself and interviewers caught that over the course of the day, but I got the statement from HR they flagged me for some other roles. I did get contacted for some more positions, but not the right fit to leave my current role. Other company HR gave detailed feedback from each interview. Even setup for a second rescreen by a different interviewer. In the end, couldn't make the numbers work. Yes, HR has a hiring quota they need to meet, so it can be worthwhile for them to try to leverage you for other roles. However, each HR lead is usually assigned to one group. If there are roles outside o...
by medic
Tue Dec 15, 2020 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Paying kids
Replies: 72
Views: 5971

Re: Paying kids

Thegame14 wrote: Tue Dec 15, 2020 9:34 am you would have to prove that the picture earned whatever you are paying them. you dont get to just "make up" a market rate for a picture.... sounds VERY fishy....
I don't know about having to prove the picture earns what you pay - there's often not a straight line.
Did the Toyota ad you saw cause you to buy the car, or the magazine ad, the car and driver article, the billboard, the dealer incentive, etc?
"i know only half my marketing works. i just don't know which half."

There are lots of money losing propositions, but a justifiable rate could be found by looking at what a comparable stock image may cost you. Or if it's a staged picture, what the cost would be for hiring a model from an agency for an hour or two.
by medic
Mon Dec 14, 2020 12:59 pm
Forum: Investing - Theory, News & General
Topic: Change 529 beneficiary from parent to child - tax consequences?
Replies: 10
Views: 1095

Re: Change 529 beneficiary from parent to child - tax consequences?

it's not a gift. you still are the owner. and college expenses can be paid by anyone without dealing with gift taxes
https://www.savingforcollege.com/articl ... -exclusion
by medic
Thu Dec 10, 2020 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Negotiating Below Average Job Offer
Replies: 16
Views: 1786

Re: Negotiating Below Average Job Offer

I've approached this by discussing total comp vs just salary. This is for move from mega corp A to mega corp B.
This let's me discuss comp through signing bonus, annual bonus target, vacation accrual rate, as well as salary. Give them some options and they get more levers to make it work.
by medic
Thu Dec 10, 2020 12:28 pm
Forum: Personal Finance (Not Investing)
Topic: 529 Plan - Questions for a first-time college student
Replies: 4
Views: 418

Re: 529 Plan - Questions for a first-time college student

why even put it in a 529 if she's in college now? no real growth.
have gp1 send you the gift and you fund the 529. money if fungible, but this clears you for the state tax deduction.
for gp2, no clue. their "guy" could be setting them up for issues if they are pulling from a 529 and can't point to this being used for education.

you could save yourself the headache and just have the grandparents pay the college directly. that'd be my vote.
by medic
Mon Dec 07, 2020 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree health insurance for dual US and Swiss citizen
Replies: 9
Views: 1094

Re: Retiree health insurance for dual US and Swiss citizen

With MAI that low, they should be able to get a good ACA subsidy. They're less than 2x the poverty level. Doesn't hurt to sign up and then continue with the medicare process. Once they're added to medicare, they can drop the ACA policy.

When they go sign up for medicare, they should check about income subsidies. They most likely make to much for medicaid, but medicare subsidies may be available.

Check if there's a statewide healthcare benefits advisor group for the state. These are confidential non-profits that can help guide your friend on the benefits available and how to sign up.
by medic
Sun Dec 06, 2020 4:00 am
Forum: Personal Finance (Not Investing)
Topic: Home Insurance Deductible - Keep or Raise?
Replies: 27
Views: 2811

Re: Home Insurance Deductible - Keep or Raise?

But are you actually going to claim for a $1000 expense? Likely no because of the impact on your home's CLUE record, increased premiums, and chance of being dropped. If you won't claim for those lower cost incidents then it's wasted money. That isn’t true. If the OP ever files a claim of any size, the higher deductibles will likely cost more money than the savings on the premiums. I don’t know how many people never have a claim, and overall it may be a risk worth taking, but it’s not a win just because you won’t file smaller claims. Also, many mortgages have caps on deductibles. Mine have always been either $5k or $10k. It's not a question of premium savings but of behavior. Will you actually file a $1K claim? If not, adjust the deducible ...
by medic
Sun Dec 06, 2020 3:44 am
Forum: Personal Finance (Not Investing)
Topic: Retiree health insurance for dual US and Swiss citizen
Replies: 9
Views: 1094

Re: Retiree health insurance for dual US and Swiss citizen

What's their annual MAGI? Possible they get a subsidy.
That said, at 65 she can get medicare even if she never worked in the US. Spouse benefit should apply, but if not she can pay for medicare.
Look at medicare advantage plans which may provide greater coverage for travel. Likely it's a reimbursement process if covered for out of country - nobody wants to deal with insurance paperwork especially when going from single payer to the oddity that is US healthcare.
by medic
Mon Nov 30, 2020 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Home Insurance Deductible - Keep or Raise?
Replies: 27
Views: 2811

Re: Home Insurance Deductible - Keep or Raise?

Colorado13 wrote: Mon Nov 30, 2020 2:09 pm I would keep it as is, due to the relatively small amount of savings gained from making a change. I'm curious where you live because that's a very low annual preimum. (But it's all relative.) Hopefully your coverage is adequate for your house size, value, etc
But are you actually going to claim for a $1000 expense? Likely no because of the impact on your home's CLUE record, increased premiums, and chance of being dropped. If you won't claim for those lower cost incidents then it's wasted money.

Our perspective on homeowners insurance is for catastrophic issues - fire, major water damage, tree through roof, etc. We self insure for everything else.
by medic
Wed Nov 25, 2020 3:35 am
Forum: Personal Finance (Not Investing)
Topic: How can I reduce my annual expenses: Budget help
Replies: 133
Views: 11568

Re: How can I reduce my annual expenses: Budget help

seems you're doing fine, but are these actual expenses or just estimates based on what you can recall? our memories are pretty faulty, so I'd suggest using Mint or Personal Capital to track expenses for a while or go back through your credit card statements. For example, I don't see clothing, gym, entertainment etc in the mix so you may be missing some areas. Also, the numbers seem high in some COVID related areas so I'm curious if this is recent spending or long term behavior. It's the long term that you'll need to focus on. for food, you can look at simplifying your diet. less meat usually reduces the price tag quite a bit. also if you're eating well, I'd question the need for $300 in supplements, but guessing by your username and spendin...
by medic
Wed Nov 25, 2020 3:15 am
Forum: Personal Investments
Topic: 529 for private school questions
Replies: 7
Views: 723

Re: 529 for private school questions

If you're going to spend the money as soon as it's put in, then yes, the only advantage would be a tax deduction if offered in your state. check for restrictions though, there maybe string attached. the 529 is best as a tax free growth vehicle for future expenses. if junior is just born and you're thinking to use for private school in a few years maybe worth it though chose your investments wisely. personally, I'd look at a combination of 529 and cash flowing the tuition. put $ in the 529. cash flow the first few years of school and then if the 529 is up you can start to withdraw. if not, let it ride and continue to cash flow. This can let you be more aggressive to take advantage of the tax free nature of the investment. recall though that ...
by medic
Tue Nov 24, 2020 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: Purchaing 1.3M house, advice needed regarding finances
Replies: 11
Views: 2891

Re: Purchaing 1.3M house, advice needed regarding finances

We live in the seattle area. We have a paid off home and maintain earthquake insurance. Deductible is high and lots of caveats, so it's only for major quakes. I treat insurance less about the probability of the event but about the impact of the event. Just like your portfolio, you don't decide an asset allocation for the regular ups/downs but those "swans". Before looking at college funding, is your retirement on track. How much do you need, when, and can you get there with the current allocation of funds. If not, fix that first. With your after-tax 401k, can you do an in-service withdrawal? That would allow you to get more into the ROTH IRA (megabackdoor roth). You can do both backdoor and megabackdoor roth. To rebalance, doing t...
by medic
Tue Nov 24, 2020 8:39 pm
Forum: Personal Investments
Topic: How simple is too simple?
Replies: 26
Views: 3623

Re: How simple is too simple?

Target date funds are a fine choice.
by medic
Mon Nov 23, 2020 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Adding mother in law as a dependent?
Replies: 5
Views: 579

Adding mother in law as a dependent?

My mother in law lives with us (we pay nearly all her expenses). Cultural thing. She has been filing independently. Is there value to claiming her as a dependent on our taxes? Wife and I take the MFJ standard deduction. We haven't been claiming her in part because she was getting an Obamacare subsidy. She has to sign up for Medicare this year, but concerned that if we start claiming her as a dependent she won't be eligible for income related programs such as if she needs long term care. Anyone go through this and have input on what to consider? Edit: She has no income (earned or unearned) though we could manufacture some if needed. Pay her for help taking care of grandkids or have her other daughters gift her shares to sell instead of provi...
by medic
Thu Nov 19, 2020 7:11 am
Forum: Personal Investments
Topic: Child Education Savings - 529/UTMA or Both
Replies: 5
Views: 1457

Re: Child Education Savings - 529/UTMA or Both

I believe that's it for tax protected accounts. If that's not getting you on track the next area is a taxable brokerage account.
If you have an ESPP at work that gives you a discount, manage your cash flow so you can participate there. Sell immediately, pocket the discount and invest in your taxable.

Btw, it's open enrollment so make sure you've selected a HDHP if you want to start a HSA.

https://www.bogleheads.org/wiki/Priorit ... nvestments
by medic
Wed Nov 18, 2020 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Van possibly totaled. Best next steps?
Replies: 24
Views: 2210

Re: Van possibly totaled. Best next steps?

When you say self-insure, I'm assuming you mean "collision only"? I mean no collision, no comprehensive. Liability only. If the car gets eaten by a dinosaur or damaged in some way, you hit your emergency fund/reserves and go buy another car. Like any insurance, it's only needed when your assets can't absorb the loss. We usually go liability a few years after buying our cars. I think we went to liability only after 3 years of owning our van. We've had it now for 12 years. On average, comprehensive and collusion cost ~$750 (https://www.insurance.com/auto-insurance/coverage/comprehensive-and-collision-auto-insurance.html) Our van is on year 12, I think we dropped it after about 3 years. I think we only kept it that long because of t...
by medic
Wed Nov 18, 2020 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Van possibly totaled. Best next steps?
Replies: 24
Views: 2210

Re: Van possibly totaled. Best next steps?

Agree with others though to get a lawyer or push your insurance to step in. File the claim, pay the $250, and send the bills. They'll recoup from the other insurance including your deductible.


Also, shifting topic a bit, but is nobody else going to point out that the OP has a $250 deductible and full coverage on a $6000 vehicle. Not knowing exact numbers, but that feels a poor financial choice. At a minimum raising the deductible to lower the annual dues. At best self-insure for a vehicle with such a low value.