Search found 66 matches

by cognovimus
Mon Sep 16, 2019 3:58 am
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Re: Is this enough for retirement?

Unfortunately, the model does not predict a steady 74% coverage because of the variability of the expenses in different years. That's why I had to do some hunting to answer your question. In today's dollars, the SS will be approximately $70,000 (full year, 2 streams, and today's dollars without CPI...
by cognovimus
Sun Sep 15, 2019 5:02 pm
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Re: Is this enough for retirement?

Unfortunately, the model does not predict a steady 74% coverage because of the variability of the expenses in different years. That's why I had to do some hunting to answer your question. In today's dollars, the SS will be approximately $70,000 (full year, 2 streams, and today's dollars without CPI...
by cognovimus
Sun Sep 15, 2019 3:44 pm
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Re: Is this enough for retirement?

With 27x your 'residual' spending and a 50/50 AA, you're in fine shape. It's very unlikely that you'll to make any spending reductions for the first 15 years of retirement, although most retirees' spending drops by 1-2% annually in inflation-adjusted dollars, and this trend occurs throughout retire...
by cognovimus
Sun Sep 15, 2019 2:16 pm
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Re: Is this enough for retirement?

With 27x your 'residual' spending and a 50/50 AA, you're in fine shape. It's very unlikely that you'll to make any spending reductions for the first 15 years of retirement, although most retirees' spending drops by 1-2% annually in inflation-adjusted dollars, and this trend occurs throughout retire...
by cognovimus
Sun Sep 15, 2019 1:25 pm
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Re: Is this enough for retirement?

as I said, you could see if you could take advantage of 0% cap gains (if you are in that range in those first two years); and you should be good to go (we planned on being as "bulletproof" as possible, figuring that if we have a problem that there's gonna be a lot more people in far far worse shape...
by cognovimus
Sun Sep 15, 2019 10:43 am
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Re: Is this enough for retirement?

As I see that you just joined in August, belated "welcome to the forum" so you say you have 27 x RLE with a 51/49 allocation with first two years in cash... Is your income going to be low enough to stay in the 0% cap gains range? if so, you might want to take advantage of that (as you didn't mentio...
by cognovimus
Sun Sep 15, 2019 10:34 am
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Re: Is this enough for retirement?

It seems that your 12 years of fixed income and 15 years of equities would give you a total of 27 years of expenses covered beyond SS. This is thought to be reasonable as 25 times expenses is sometimes used as a target. I would prefer for my own retirement to have a little cushion above that, maybe...
by cognovimus
Sun Sep 15, 2019 9:47 am
Forum: Personal Investments
Topic: Is this enough for retirement?
Replies: 17
Views: 3395

Is this enough for retirement?

Need some feedback on our "coverage" going into retirement (hoping to stop working in the next quarter or so). Age 63. Will claim at 70. Spouse will claim at 65. Both of these are at or close to the optimal timing based on the Open Social Security calculation. Overall AA is 51/49. (Portfolio is curr...
by cognovimus
Sat Sep 14, 2019 6:41 am
Forum: Personal Consumer Issues
Topic: Need gift ideas for my parents
Replies: 18
Views: 1243

Re: Need gift ideas for my parents

Depends very much on the parents likes, dislikes and limitations. My parents HATED traveling, even when they were mobile and healthy. My father LOVED the laptop we bought him, said it gave him an education. Used it when he woke up in the middle of the night and had a project idea to research. Took i...
by cognovimus
Sat Sep 14, 2019 5:53 am
Forum: Personal Finance (Not Investing)
Topic: social security benefit - confused about choosing start date
Replies: 32
Views: 2557

Re: social security benefit - confused about choosing start date

Regarding completing the paperwork: Is it normal to do it about 3-4 months early? One person mentioned having to wait a month for a return call appointment Is there now a backlog to talk with SS on the phone? By the way, I called a few months ago to ask an information question (not ready to file yet...
by cognovimus
Wed Sep 11, 2019 11:48 am
Forum: Personal Investments
Topic: Adding SS income to Portfolio Visualizer?
Replies: 10
Views: 996

Re: Adding SS income to Portfolio Visualizer?

I just used the "contribution" in the drop down, and then clicked on the inflation adjusted box. Thanks...that's easier than me trying to guess. But as a follow-up question, if you use this option, might the SS benefits be projected to get lower? For example, from 2008-2009, the average CPI decline...
by cognovimus
Tue Sep 10, 2019 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: How to update online VG account with cost basis for non-covered shares?
Replies: 6
Views: 329

Re: How to update online VG account with cost basis for non-covered shares?

Had a similar issue with Fidelity last year. If they don't provide it, how does the IRS know if you are reporting correctly?
by cognovimus
Mon Sep 09, 2019 8:46 am
Forum: Personal Investments
Topic: Adding SS income to Portfolio Visualizer?
Replies: 10
Views: 996

Re: Adding SS income to Portfolio Visualizer?

I just used the "contribution" in the drop down, and then clicked on the inflation adjusted box. Thanks...that's easier than me trying to guess. But as a follow-up question, if you use this option, might the SS benefits be projected to get lower? For example, from 2008-2009, the average CPI decline...
by cognovimus
Mon Sep 09, 2019 8:38 am
Forum: Personal Investments
Topic: Adding SS income to Portfolio Visualizer?
Replies: 10
Views: 996

Re: Adding SS income to Portfolio Visualizer?

Use Firecalc--it has a lot more inputs and ways to work with the data: https://www.firecalc.com/ Two questions about Firecalc: 1. Do I need to gross up "spending" for taxes? Or is there another place to input a projected tax rate? 2. Portfolio Visualizer has a feature that allows you to project up ...
by cognovimus
Sun Sep 08, 2019 4:43 pm
Forum: Personal Investments
Topic: Adding SS income to Portfolio Visualizer?
Replies: 10
Views: 996

Adding SS income to Portfolio Visualizer?

I'd like the Portfolio Visualizer MC analysis to include our SS income and not just draw down my portfolio. (Nothing to do with the older thread that debated SS as a bond/fixed asset.) Rather than add a spreadsheet to link to, I added it as a "contribution + % increase" under Financial Goals. Is tha...
by cognovimus
Thu Sep 05, 2019 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: LTC Monthly Coverage Amount
Replies: 12
Views: 866

Re: LTC Monthly Coverage Amount

My Dad's Genworth policy is paying 100% of his Assisted Living costs. This cost is somewhat less than his monthly limit of $6000 per month limit. So his annual premium is about one month's cost in the facility? Most of the policies I've seen "waive" the premium once you are "on claim." Does your da...
by cognovimus
Thu Sep 05, 2019 11:10 am
Forum: Personal Finance (Not Investing)
Topic: LTC Monthly Coverage Amount
Replies: 12
Views: 866

LTC Monthly Coverage Amount

I'm still debating the advisability of LTC insurance. On previous threads I heard some BHs recommend not getting based on net assets above a certain amount and others who have it or who have seen family members benefit who were proponents of LTC. I'd love to dispose of this issue before retirement. ...
by cognovimus
Fri Aug 30, 2019 9:24 pm
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9505

Re: How Have You Planned for Sequence of Return Risk (SOR)?

The risk-adjusted benefit of working to 3% or lower WRs for most investors seems to be very poor in my estimation . Historically, it would like take an investor with a 20% savings 5-8 years of additional working to move from a 4% WR to 3%. Some are willing to make that trade-off, but I for one am n...
by cognovimus
Fri Aug 30, 2019 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Educating Spouse on Personal Finance
Replies: 60
Views: 3738

Re: Educating Spouse on Personal Finance

We are in our 50s, and I am the income earner. I also control all the finances and investments. My wife has an interest, although not quite a desire, to learn more about our personal finances, which I highly encourage. Her eyes gloss over very quick when I have discussed things with her in the past...
by cognovimus
Fri Aug 30, 2019 1:43 pm
Forum: Personal Finance (Not Investing)
Topic: Co-sponsoring an immigrant's sick family member [Updated]
Replies: 47
Views: 4517

Re: Co-sponsoring an immigrant's sick family member

I would have to decline this, unless I were very wealthy or very close to this family. These requests are becoming more common for those of us who live in communities with large immigrant groups: -- a friend of my adult daughter's asked my daughter to sponsor her fiance from another country. Daughte...
by cognovimus
Thu Aug 29, 2019 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Insurance shopping - good alternative to State Farm for auto, home, umbrella
Replies: 20
Views: 1292

Re: Insurance shopping - good alternative to State Farm for auto, home, umbrella

Hi, I've been with State Farm for a long time and have had good service, but my auto rate will rise by a very big percentage at next renewal. No changes to anything on my end, and agent says no options for reducing the premium. Even raising the deductibles won't make much of a dent. I haven't shopp...
by cognovimus
Thu Aug 29, 2019 4:55 pm
Forum: Personal Consumer Issues
Topic: Planning a Europe trip in Dec 2019 last week. Need advice
Replies: 15
Views: 835

Re: Planning a Europe trip in Dec 2019 last week. Need advice

There are better places than Northern Europe for a winter trip, but I suggest you pose your question on Fodors Travel Talk (https://www.fodors.com/community/europe/ or the forums section of TripAdvisor: https://www.tripadvisor.com/ListForums-g4-i11-Europe.html. Enjoy the 12 days (of Christmas) off!
by cognovimus
Tue Aug 27, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9505

Re: How Have You Planned for Sequence of Return Risk (SOR)?

If you retired in 2009 or shortly afterward it is entirely possible your retirement has benefited hugely from sequence of returns risk. It has, that is, if you planned for it by carrying a large allocation to US stocks. I wish you could explain this to me. Because to my thinking, it seems like 2009...
by cognovimus
Tue Aug 27, 2019 9:05 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Max Annual Out-of-Pocket on Medicare/Medigap?
Replies: 9
Views: 991

Re: What's Your Max Annual Out-of-Pocket on Medicare/Medigap?

Medicare PPO Advantage Plan. In network OOP max is $6,700 and In/Out combined OOP max is $10K. Do you budget for the worst case each year or something less? I don´t explicitly ¨budget¨ for the worst case each year, but I have an HSA with more than I would need to cover numerous years worth of OOP m...
by cognovimus
Tue Aug 27, 2019 12:48 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Max Annual Out-of-Pocket on Medicare/Medigap?
Replies: 9
Views: 991

What's Your Max Annual Out-of-Pocket on Medicare/Medigap?

Just when I think I've got our retirement budget down, I think of something that might be omitted or underestimated. (I do have a few $000's buffer just in case but prefer to itemize what I can.) After paying for Medicare and your Supplemental Health Insurance, what's your maximum out of pocket for ...
by cognovimus
Sun Aug 25, 2019 7:12 pm
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9505

Re: How Have You Planned for Sequence of Return Risk (SOR)?

If you have more money than you are likely to need. Then SOR does not matter. But not all people have that! Right, I guess I consider this topic most relevant to those with substantial but not 100% risk-proof portfolios. However, even the very wealthy may care about the size of the pot they leave b...
by cognovimus
Sun Aug 25, 2019 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9505

Re: How Have You Planned for Sequence of Return Risk (SOR)?

Not specifically for SOR. However, I saved in a CD ladder that kicked in at retirement to carry me until 70. That allows me to wait for SS and RMD, and do some Roth conversions, without the need to touch the other parts of my portfolio. Those are all set to reinvest. I'm interested in hearing more ...
by cognovimus
Sun Aug 25, 2019 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 167
Views: 9505

How Have You Planned for Sequence of Return Risk (SOR)?

I've been reading about the "strategies" for managing/protecting against SOR Risk. Many of you know of Wade Pfau, who is listed as "Professor of Retirement Income." One of his articles is linked here: https://www.forbes.com/sites/wadepfau/2017/04/12/4-approaches-to-managing-sequence-of-returns-risk-...
by cognovimus
Sun Aug 25, 2019 3:20 pm
Forum: Personal Finance (Not Investing)
Topic: [Please Review] Retirement Expenses in California and safe withdrawl rate of 3.5%
Replies: 25
Views: 2001

Re: [Please Review] Retirement Expenses in California and safe withdrawl rate of 3.5%

I thought some of your $$ related to transportation were high, but I don't live in CA. And maybe the "car registration" is akin to a personal property tax? The medical costs -- were those for private (ACA) care? Those premiums should be lower once you hit 65, so be sure your model lets you customize...
by cognovimus
Sun Aug 25, 2019 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Help in estimating capital gains tax on residence
Replies: 9
Views: 710

Re: Help in estimating capital gains tax on residence

I'd be looking for more improvements you did to add to purchase. Make sure you read IRS Pub 523 Key phrase is: These add to the value of your home, prolong its useful life, or adapt it to new uses. You add the cost of additions and other improvements to the basis of your property. So, a new roof, r...
by cognovimus
Sun Aug 25, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Help in estimating capital gains tax on residence
Replies: 9
Views: 710

Re: Help in estimating capital gains tax on residence

Nate79 wrote:
Sun Aug 25, 2019 6:24 am
Was the house ever a rental?
No, it was never a rental.
by cognovimus
Sun Aug 25, 2019 2:29 am
Forum: Personal Finance (Not Investing)
Topic: Help in estimating capital gains tax on residence
Replies: 9
Views: 710

Help in estimating capital gains tax on residence

Pondering downsizing to a place with less maintenance, but we've been in our home a long time. I would like to have a clear idea of what the tax implications would be in the year of sale. I've plugged in sample numbers. Please advise as to what I may be overlooking. Thanks! 200,000 purchase price (...
by cognovimus
Mon Aug 19, 2019 6:40 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

I wrote my own, so I know all the assumptions in it, though it is tailored specifically to me, and has my info on it, so I can't share it. I find that i-orp seems to provide the closest results to my own, so I would recommend that one if you need a recommendation. Of course, trying all of them, and...
by cognovimus
Mon Aug 19, 2019 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

I recently signed up for $96 as a way to access the consumer side of eMoney for a one year period. After that it renews for $8 per month. According to the FAQs on the website, the price for the first year is going up to $134 in January, 2020. There are lots of adjustments that can only be done on t...
by cognovimus
Sun Aug 18, 2019 6:27 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

OK, not what you've asked for, but low cost review that some have reported as useful: https://planvisionmn.com/ $96/year. Oops, their site says the first year is $134 now. I haven't used it, but I believe you input all your data, which remains available to you while you continue with the service. I...
by cognovimus
Sat Aug 17, 2019 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

While not an exact fit to your question your might find the information I posted to another thread helpful. One of our presenters at a quarterly BH meeting in Minnesota did a presentation/review of a number of different calculators. If memory serves me correctly Firecalc was rated very highly by th...
by cognovimus
Fri Aug 16, 2019 5:09 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

I have used Maxif and generally find it good. Some shortcomings: It assumes one has to start RMDs at 70, even if still working. There does not seem to be a way to fix this. It used to assume that all capital gains must be realized during life- no option to hold them till death and give heirs a step...
by cognovimus
Fri Aug 16, 2019 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

OK, not what you've asked for, but low cost review that some have reported as useful: https://planvisionmn.com/ $96/year. Oops, their site says the first year is $134 now. I haven't used it, but I believe you input all your data, which remains available to you while you continue with the service. I...
by cognovimus
Fri Aug 16, 2019 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

But from what you've said: 1. I enter assets/portfolio numbers (and update them manually) 2. It derives the discretionary part of expenses, given a few key inputs. Is there a limit to the # of special expenses you can enter? Could I enter things like food as a input? I assume you then use EXCEL or ...
by cognovimus
Fri Aug 16, 2019 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: I really do not like using credit cards. Do any of you have a good credit score with no credit cards?
Replies: 247
Views: 6094

Re: Does anyone here have no credit cards? How is that working out for you? Do you have any trouble without them?

Love CCs: For the bonuses, the spend rewards, expense tracking. They also help those without mortgages to establish/maintain credit scores.
by cognovimus
Fri Aug 16, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

I have been a user of Maxifi since it was just their first incarnation of ESPlanner 1.0, the desktop PC-only version back in the mid to late 90s. It is extremely comprehensive, computing taxes for every year (something that Fidelity's old planner did, but the new one does not), allowing "special ex...
by cognovimus
Fri Aug 16, 2019 9:59 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

IMHO, it's better to get good with Excel and build one's own spreadsheet. The algorithms used in canned programs are not accessible, so one never knows if their output truely reflects one's assumptions or even current conditions. Building one's own model provides a certainty that output reflects ex...
by cognovimus
Fri Aug 16, 2019 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

I can not help with the specific questions, but maybe to re frame it a bit: - how much does financial planner charge per hour ? Maybe redoing the analysis only every two years is good enough ? How bad can 7h be in terms of cost ? Nearly $2K. - what was teh outcome of the first analysis, did this no...
by cognovimus
Fri Aug 16, 2019 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Re: Financial planning tools - MaxiFi, Fire Calc, etc?

student wrote:
Fri Aug 16, 2019 7:46 am
http://www.cfiresim.com/
https://www.i-orp.com
https://advisors.financialengines.com free with Vanguard for some customers.
Thank you. I'll give them a look.
by cognovimus
Fri Aug 16, 2019 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning tools - MaxiFi, Fire Calc, etc?
Replies: 33
Views: 2384

Financial planning tools - MaxiFi, Fire Calc, etc?

I'm trying to decide how best to chart our financial course for the future. We plan to retire soon and went through an exercise with a fee only financial planner which provided us with a static "plan" based on our assets/income earlier this year. There have been a few ups and down since the beginnin...
by cognovimus
Fri Aug 16, 2019 6:50 am
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 15064

Re: Long-Term Care Decision

Insurer(s) names that provide shared care of $1.5 million for $6; coverage per day, # years, elimination period; inflation protection? As I said, the quotes I got (for shared care) were considerably more for less coverage. Remember that your specific situation (particularly health) matters. My LTCi...
by cognovimus
Fri Aug 16, 2019 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 15064

Re: Long-Term Care Decision

WOW, I'm still interested in the names of insurers that offer this. The traditional LTC quotes I have received (Transamerica, Mutual of Omaha) didn't offer 5/5 plus another 5 years of coverage and the coverage doesn't equal even today's SN cost in my state. (I know many people don't end up needing ...
by cognovimus
Thu Aug 15, 2019 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Credit Freeze
Replies: 18
Views: 1250

Re: Credit Freeze

Reading the recent "no CC" thread made me wistful for the bonuses and rewards. We have plenty of CCs, use them liberally, and pay them off when the bill comes. The perks are just too attractive not to: cash back, gift cards, airline mile, and hotel points, even free knife sharpening at WS. However,...
by cognovimus
Thu Aug 15, 2019 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Long-Term Care Decision
Replies: 330
Views: 15064

Re: Long-Term Care Decision

Precisely. I'll bet that premiums is for a couple aged 55. They would be buying it at that age knowing that there is only a tiny chance that they'll make a claim for the first decade of paying for it, but if they wait until age 65 or later, the premiums will be much more expensive, and WoW2012 has ...
by cognovimus
Thu Aug 15, 2019 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Credit Freeze
Replies: 18
Views: 1250

Re: Credit Freeze

Reading the recent "no CC" thread made me wistful for the bonuses and rewards. We have plenty of CCs, use them liberally, and pay them off when the bill comes. The perks are just too attractive not to: cash back, gift cards, airline mile, and hotel points, even free knife sharpening at WS. However,...