Search found 18735 matches

by Grt2bOutdoors
Wed Sep 19, 2018 11:44 am
Forum: Investing - Theory, News & General
Topic: “Majority of working-age Americans have no retirement savings”
Replies: 50
Views: 1747

Re: “Majority of working-age Americans have no retirement savings”

It's often interesting to look behind the curtain at the organizations publishing such information. A quick glance at the National Institute on Retirement Security shows they are a Washington D.C. lobbying group funded mostly by state government retirement systems. I would view their published stud...
by Grt2bOutdoors
Wed Sep 19, 2018 7:55 am
Forum: Investing - Help with Personal Investments
Topic: UTMA help.... advice needed for inherited UTMA
Replies: 9
Views: 457

Re: UTMA help.... advice needed for inherited UTMA

However, this would enable you to rollover the balance in the UTMA account to a UTMA 529 account prior to college. If you and the student will be on the bubble of financial aid. UTMA accounts can be very detrimental to the FAFSA calculation. But its not like a student-owned 529 account is not detri...
by Grt2bOutdoors
Wed Sep 19, 2018 6:44 am
Forum: Investing - Help with Personal Investments
Topic: Trust Under Will (TUW)
Replies: 2
Views: 170

Re: Trust Under Will (TUW)

It seems like a testamentary Trust was created upon your fathers death? In other words, the trust is created only upon the decedents death and not before. I would ask attorney but it seems that the actual creation of Will was in 2018 and not 2010. Testamentary trusts are created upon death, not prio...
by Grt2bOutdoors
Wed Sep 19, 2018 6:33 am
Forum: Investing - Help with Personal Investments
Topic: UTMA help.... advice needed for inherited UTMA
Replies: 9
Views: 457

Re: UTMA help.... advice needed for inherited UTMA

The muni bonds have nice yields and I believe the intent of the grandfather was to use a conservative investment to preserve the nominal principal and not have to pay taxes on the income. Mission accomplished! Now, if the new custodian wishes to invest for growth, I would suggest using Vanguard Tota...
by Grt2bOutdoors
Tue Sep 18, 2018 6:27 pm
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3178

Re: Equity in house / Do you use it?

I'm a private banker, and many of our clients maintain home equity lines of credit. These are often used for things like making quarterly tax estimate payments, paying for new cars/boats/planes outright versus going through the hassle of getting a separate amortizing loan for those purchases, payin...
by Grt2bOutdoors
Tue Sep 18, 2018 6:20 pm
Forum: Investing - Theory, News & General
Topic: "Warren Buffett and Jack Bogle agree on the formula for long-term success: 'Buy and hold' "
Replies: 6
Views: 885

Re: "Warren Buffett and Jack Bogle agree on the formula for long-term success: 'Buy and hold' "

Warren Buffett is known for exiting out of positions. He does not just “buy and hold”. People will exit out of positions for the simple fact, they need money to live their life.
by Grt2bOutdoors
Tue Sep 18, 2018 9:13 am
Forum: Personal Finance (Not Investing)
Topic: How did you decide when to retire?
Replies: 41
Views: 5177

Re: How did you decide when to retire?

I don't understand the OP's issue. $58K in "reduced" pension, $1 million in tax deferred portfolio. Eventually at age 70, another $40K in Social Security benefit ignoring what their spouse does. Only $25K of housing cost and it sounds like much of it is co-op/condo/HOA fees since the mortgage amoun...
by Grt2bOutdoors
Tue Sep 18, 2018 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Dilemma: Add room to current house or buy new house?
Replies: 87
Views: 3687

Re: Dilemma: Add room to current house or buy new house?

I'd look for other quotes. $150,000 for a 300 foot sunroom seems astronomical to me. Agree. Personally I’d buy a new house, after having lived through a house renovation and contractor nonsense, I have had enough. Oh, and that quote for $150,000 - insanity. Is that before or after cost overruns?
by Grt2bOutdoors
Tue Sep 18, 2018 6:07 am
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3178

Re: Equity in house / Do you use it?

After I received a threatening letter from an attorney regarding a dog bite that allegedly occurred on my property, I immediately took out a HELOC. When attorney's are working on a contingency basis, you want to make sure there are as many liens on a property as possible so it looks like you're lev...
by Grt2bOutdoors
Tue Sep 18, 2018 6:06 am
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3178

Re: Equity in house / Do you use it?

Downsize, then use the cash as you desire. Unless you have substantial after-tax taxable investments where you are covering the amount of equity taken away in the form of a loan, my advice is to pass. You fail to pay back the loan against your house, they will foreclose on you. So, to answer your qu...
by Grt2bOutdoors
Mon Sep 17, 2018 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Double Check
Replies: 23
Views: 1516

Re: Retirement Double Check

You have a better shot at a 30 year retirement if you walk out at age 45 or 50 and still no guarantee of it either. You can do everything right and life happens. I wouldn’t be fixated on a 30 year retirement horizon unless family genetics is favorable towards longevity, though no guarantee. On aver...
by Grt2bOutdoors
Mon Sep 17, 2018 8:19 pm
Forum: Investing - Help with Personal Investments
Topic: Whole Life vs Universal Life Insurance
Replies: 24
Views: 935

Re: Whole Life vs Universal Life Insurance

One more point about whole life insurance, your death benefit. Going back to earlier example, your policy of $200,000. Let’s say you’ve owned it for exactly 10 years, you’ve paid in $20,000. You accumulate a cash value of $10,000. Something happens, your beneficiary goes to collect, how much does wi...
by Grt2bOutdoors
Mon Sep 17, 2018 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Double Check
Replies: 23
Views: 1516

Re: Retirement Double Check

......Estimated annual expenses / budget $90,000........Estimated Retirement fund goal (90,000 x 25) = $2,250,000 Forgot to add: Forbes, Kipplinger's, Money, TRowe and just about everyone else under the sun recommends you do a retirement plan based on a 30 year span of being retired - ages 65 to 95...
by Grt2bOutdoors
Mon Sep 17, 2018 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Double Check
Replies: 23
Views: 1516

Re: Retirement Double Check

Asset allocation- OP, you should invest based on your need, ability and willingness to take risk. If you only need say $1 million in the securities markets (i say $1 million because you should have a buffer for a margin of safety, in the event you have a higher annual cash need at retirement or you ...
by Grt2bOutdoors
Mon Sep 17, 2018 6:04 pm
Forum: Investing - Help with Personal Investments
Topic: Whole Life vs Universal Life Insurance
Replies: 24
Views: 935

Re: Whole Life vs Universal Life Insurance

Just for more information, I am married and we have a 2.5 year old child. I like the idea of whole or universal, because from my understanding it acts as an investement you can leverage loans and other things against as well as life insurance. Where as with term all I get is the pay out to my famil...
by Grt2bOutdoors
Mon Sep 17, 2018 3:25 pm
Forum: Investing - Theory, News & General
Topic: Is there such thing as saving TOO much?
Replies: 78
Views: 6517

Re: Is there such thing as saving TOO much?

For the record, I do spend money on things I enjoy. I usually take 1-2 trips per year. Usually to the western US..I live with my father. I pay him rent, but not as much as it would be if I were renting an apartment. I enjoy living with him and helping him with things around the house, and he enjoys...
by Grt2bOutdoors
Mon Sep 17, 2018 3:21 pm
Forum: Investing - Help with Personal Investments
Topic: How am I doing? -- 32 y/o lawyer in Bay Area
Replies: 32
Views: 4216

Re: How am I doing? -- 32 y/o lawyer in Bay Area

I don't like idea of including 401k or any retirement fund in net worth, especially at this age. Why not? Basic general accepted accounting principles, you can verify it yourself on any financial statement, private or public: Assets - Liabilities = Net Worth. Categorically, you can segregate assets...
by Grt2bOutdoors
Mon Sep 17, 2018 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: How to get financially ready for death of parent
Replies: 22
Views: 2475

Re: How to get financially ready for death of parent

A few months ago, I attended an excellent retirement planning seminar given by an Elder Law attorney. Here’s the list, organized into 4 areas plus a list of professional advisors at the end to help you with planning and implementation. Team of Advisors Financial advisor Elder law attorney Business ...
by Grt2bOutdoors
Mon Sep 17, 2018 12:12 pm
Forum: Investing - Help with Personal Investments
Topic: 401k roth or trad in NJ
Replies: 13
Views: 630

Re: 401k roth or trad in NJ

Pre-tax is right for most people, regardless of where you live. Now, when you factor in two large SS payments plus a pension, it gets trickier in terms of your taxable income in retirement (in my case we could be looking at nearly 100k in retirement income, but that's still way below our current ma...
by Grt2bOutdoors
Mon Sep 17, 2018 11:55 am
Forum: Investing - Help with Personal Investments
Topic: 401k roth or trad in NJ
Replies: 13
Views: 630

Re: 401k roth or trad in NJ

Pre-tax is right for most people, regardless of where you live. Now, when you factor in two large SS payments plus a pension, it gets trickier in terms of your taxable income in retirement (in my case we could be looking at nearly 100k in retirement income, but that's still way below our current ma...
by Grt2bOutdoors
Mon Sep 17, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: Playing catch up. Best methods to grow retirement in next 10+years?
Replies: 17
Views: 2075

Re: Playing catch up. Best methods to grow retirement in next 10+years?

Do you have to retire at age 62? If you work to age 65, you are two more years closer to Social Security and you have 3 more years worth of savings in hand?
by Grt2bOutdoors
Mon Sep 17, 2018 9:14 am
Forum: Investing - Help with Personal Investments
Topic: (No Savings) *Everything* in S&P 500?
Replies: 33
Views: 3708

Re: (No Savings) *Everything* in S&P 500?

The federal 401-K (TSP) was launched in 1987 and back then we had actual live (contract) trainers that travelled around and gave educational seminars. They were pretty heavy on suggesting younger employees go 100% in S&P 500 index which at the time was the only stock fund option. I know several peo...
by Grt2bOutdoors
Mon Sep 17, 2018 9:04 am
Forum: Investing - Help with Personal Investments
Topic: 401k roth or trad in NJ
Replies: 13
Views: 630

Re: 401k roth or trad in NJ

Taxedtodeath, Why would you contribute to Roth 401K? Unless you like paying taxes instead of spending your own money, Trad. 401K is the right answer. After that, if you still have extra money to save, you could contribute to the after-tax 401K account and do a Mega-Roth Backdoor IRA. KlangFool Than...
by Grt2bOutdoors
Mon Sep 17, 2018 8:33 am
Forum: Investing - Help with Personal Investments
Topic: How to invest money that you may need in 6 months to a year.
Replies: 17
Views: 1764

Re: How to invest money that you may need in 6 months to a year.

PMMF is the correct response here. Currently has a yield of 2.09% but that will quickly jump up as soon as the FED bumps their rate up (this month?). FDIC insurance is a non-factor for such a short term. Yes, a non-factor except ask those who invested in The Reserve Fund how that played out in 2008...
by Grt2bOutdoors
Mon Sep 17, 2018 8:24 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Advisor suggesting 7 Bond funds for my 40%
Replies: 41
Views: 4571

Re: Vanguard Advisor suggesting 7 Bond funds for my 40%

Why bonds. In the last 10 years what would you have made. I'm 5% mm and 95% in stocks In the last 10 years I'm up 15% per year. Why would a 10 year bull market be a useful time frame for deciding why bonds? Bonds: because the market doesn't always go up for 10 years. Benjamin Roth, The Great Depres...
by Grt2bOutdoors
Mon Sep 17, 2018 8:18 am
Forum: Investing - Help with Personal Investments
Topic: Can I have an oversized emergency savings account?
Replies: 19
Views: 2071

Re: Can I have an oversized emergency savings account?

Yup and there is absolutely nothing wrong with holding cash. Read my signature line - need, ability and willingness to accept risk. Some occupations have absolute job security. Need to hold cash - minimal. Some occupations take a bit longer to find suitable employment. Need to hold cash, higher exce...
by Grt2bOutdoors
Mon Sep 17, 2018 6:13 am
Forum: Investing - Help with Personal Investments
Topic: (No Savings) *Everything* in S&P 500?
Replies: 33
Views: 3708

Re: (No Savings) *Everything* in S&P 500?

If you are a high earner with job security, you can invest any way you want. Your friend likely has 5x growth in his investment, when you are a multimillionaire you can do things like that. The majority of folks do not invest like that because of one or more factors.
by Grt2bOutdoors
Mon Sep 17, 2018 6:04 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Advisor suggesting 7 Bond funds for my 40%
Replies: 41
Views: 4571

Re: Vanguard Advisor suggesting 7 Bond funds for my 40%

Decided to have Vanguard look at my all Vanguard portfolio (60% stock/40% bonds) with a push for simplification. The proposed stock changes I understand. For bonds, I previously only had 3 Vanguard bond 'funds'. Mostly the Total Bond Market Index fund, GNMA fund and one Treasury Note (TIPs). The su...
by Grt2bOutdoors
Mon Sep 17, 2018 1:26 am
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 126
Views: 8034

Re: Considering Quitting Job - Seeking Advice. Would you do it?

Find a new job (if you want).
$10.5 million net worth, after taxes $6 million.
What is your end goal? Money or getting your life back.
by Grt2bOutdoors
Sun Sep 16, 2018 7:02 am
Forum: Investing - Help with Personal Investments
Topic: Employer won't Match 401k. Why?
Replies: 52
Views: 5294

Re: Employer won't Match 401k. Why?

cdu7 wrote:
Sat Sep 15, 2018 11:18 am
They don’t want to. Entirely depends on the employer. I once saw a 401k plan where they put in 15k a year no matter what you did, but the options were all horrible high fee ones
It’s still free money, would take it in a heartbeat.
by Grt2bOutdoors
Sat Sep 15, 2018 8:39 pm
Forum: Personal Finance (Not Investing)
Topic: The Boglehead is anti-entrepreneur?
Replies: 62
Views: 3821

Re: The Boglehead is anti-entrepreneur?

Go for it!
R.H. Macy failed 10 times, on his eleventh try he succeeded. While Macy’s is now owned by Federated Department Stores, one can say he was a roaring success.
by Grt2bOutdoors
Sat Sep 15, 2018 6:57 pm
Forum: Investing - Help with Personal Investments
Topic: How to invest money that you may need in 6 months to a year.
Replies: 17
Views: 1764

Re: How to invest money that you may need in 6 months to a year.

You don’t. You put the money in an FDIC insured savings account and call it a day.
by Grt2bOutdoors
Sat Sep 15, 2018 6:55 pm
Forum: Investing - Theory, News & General
Topic: Help w/ large annual bonus
Replies: 16
Views: 1850

Re: Help w/ large annual bonus

Yes I am relatively young, 37. Since limiting our debt to 1 car and our home, I envisioned getting our emergency savings up to 1 years worth. It’s one thing to make a plan before you actually have the funds, Then once you have the $’s, it seems natural to question or feel differently. The long game...
by Grt2bOutdoors
Sat Sep 15, 2018 6:24 pm
Forum: Investing - Help with Personal Investments
Topic: Opinions on American Funds
Replies: 28
Views: 1818

Re: Opinions on American Funds

They are a respectable money management company. However, if the only way you can access their services is to purchase C class shares - pass on it. If you purchase A shared, then you have to accept paying a sales charge for it. Your investment- owning both the S&P 500 and Total Stock Market Index, ...
by Grt2bOutdoors
Sat Sep 15, 2018 6:19 pm
Forum: Personal Consumer Issues
Topic: That Extravagant Thing You Do
Replies: 304
Views: 52165

Re: What is your luxury good?

Wine. Store bought.
Good food, but as another poster said - not at a restaurant, we like to cook good food at home.
by Grt2bOutdoors
Sat Sep 15, 2018 1:03 pm
Forum: Personal Consumer Issues
Topic: The twenty dollar rule revisited
Replies: 44
Views: 4956

Re: The twenty dollar rule revisited

Twenty bucks is a small amount these days. Are you maxing your retirement accounts (401k, IRAs) etc? What is the money being spent on? More context would help? The biggest problem: it sounds like you want impose the restriction on your family. You need agreement on goals. If goals are agreed on, th...
by Grt2bOutdoors
Sat Sep 15, 2018 12:57 pm
Forum: Investing - Help with Personal Investments
Topic: Opinions on American Funds
Replies: 28
Views: 1818

Re: Opinions on American Funds

They are a respectable money management company. However, if the only way you can access their services is to purchase C class shares - pass on it. If you purchase A shared, then you have to accept paying a sales charge for it. Your investment- owning both the S&P 500 and Total Stock Market Index, y...
by Grt2bOutdoors
Sat Sep 15, 2018 12:16 pm
Forum: Personal Consumer Issues
Topic: The twenty dollar rule revisited
Replies: 44
Views: 4956

Re: The twenty dollar rule revisited

Consider this, most spending is done in lumps. While you may budget say $2,500 a month spending, some months it may come in at $2,000 and some months it will come in at $3,000. The end result? You still spent $30,000 but not evenly over the course of a year. Our Lumps this year: Jan 5,024 Feb 3,760...
by Grt2bOutdoors
Sat Sep 15, 2018 10:11 am
Forum: Investing - Help with Personal Investments
Topic: Advice - Are we doing enough/what else should we be doing?
Replies: 9
Views: 780

Re: Advice - Are we doing enough/what else should we be doing?

Stop buying the Putnam funds. I would not own actively managed funds in a taxable account. Second, even if you wanted to keep holding taxable actively managed funds compare the Putnam funds to Vanguards. The cost you’ll see is much higher. County retirement- you are putting in $1,400 and going to re...
by Grt2bOutdoors
Sat Sep 15, 2018 10:04 am
Forum: Investing - Help with Personal Investments
Topic: setup 529 with doubts
Replies: 12
Views: 825

Re: setup 529 with doubts

A 529 plan in your name is owned by you. Let’s say you contribute principle of $5,000. Let’s say the account value grows to $10,000. Price of school declines to $5,000. You have excess monies in the account. You withdraw it, your tax liability is 10% of $5,000 for penalties and 10% for earnings. You...
by Grt2bOutdoors
Sat Sep 15, 2018 9:26 am
Forum: Personal Consumer Issues
Topic: The twenty dollar rule revisited
Replies: 44
Views: 4956

Re: The twenty dollar rule revisited

Consider this, most spending is done in lumps. While you may budget say $2,500 a month spending, some months it may come in at $2,000 and some months it will come in at $3,000. The end result? You still spent $30,000 but not evenly over the course of a year.
by Grt2bOutdoors
Sat Sep 15, 2018 7:03 am
Forum: Investing - Help with Personal Investments
Topic: Dividend Riddle
Replies: 17
Views: 1657

Re: Dividend Riddle

OK, getting closer to understanding. Morningstar shows div per share for the year was .04. They pay quarterly. Would that mean that each quarterly dividend was .01 rather than .04? In my example and your math, assume ng .01 per quarter: $10,000 1099-div / 4 = 2,500 / .01 = 250,000 shares. And if sh...
by Grt2bOutdoors
Fri Sep 14, 2018 8:20 pm
Forum: Investing - Help with Personal Investments
Topic: How am I doing? -- 32 y/o lawyer in Bay Area
Replies: 32
Views: 4216

Re: How am I doing? -- 32 y/o lawyer in Bay Area

I don't like idea of including 401k or any retirement fund in net worth, especially at this age. Why not? Basic general accepted accounting principles, you can verify it yourself on any financial statement, private or public: Assets - Liabilities = Net Worth. Categorically, you can segregate assets...
by Grt2bOutdoors
Fri Sep 14, 2018 6:20 pm
Forum: Investing - Help with Personal Investments
Topic: How am I doing? -- 32 y/o lawyer in Bay Area
Replies: 32
Views: 4216

Re: How am I doing? -- 32 y/o lawyer in Bay Area

Money needed in 5 years or less does not belong in equities. Put the money in a money market fund.
by Grt2bOutdoors
Fri Sep 14, 2018 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner's Insurance - Price vs. Quality
Replies: 21
Views: 1524

Re: Homeowner's Insurance - Price vs. Quality

Make sure you compare AMICA after dividend and with e-bill. Also make sure all coverage and discounts match. You can only compare if Amica actually discloses what dividend will be, how would they know that in advance? The board of directors would have to declare it and it would have to be approved ...
by Grt2bOutdoors
Fri Sep 14, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Homeowner's Insurance - Price vs. Quality
Replies: 21
Views: 1524

Re: Homeowner's Insurance - Price vs. Quality

I found Amica to be consistently more costly for same coverage as State Farm. I’ve found Liberty Mutual does not offer like for like coverage, for them to beat State Farm on price they attempted multiple times to lower my coverage amounts - what is the sense of switching if you are going to be under...
by Grt2bOutdoors
Fri Sep 14, 2018 4:59 pm
Forum: Investing - Help with Personal Investments
Topic: Investing Portfolio Mix
Replies: 5
Views: 416

Re: Investing Portfolio Mix

An index fund by its very nature is diversified. The S&P 500 holds over 450 issues, that’s diversified. Total Stock Market Index holds over 3600 individual issues, also diversified. It’s best to develop an asset allocation plan and then follow it.
by Grt2bOutdoors
Fri Sep 14, 2018 4:48 pm
Forum: Personal Consumer Issues
Topic: I need a chainsaw to trim branches and limbs!!
Replies: 90
Views: 3803

Re: I need a chainsaw to trim branches and limbs!!

I'd get a battery powered pole saw. I recently picked up a 10" chainsaw 8" pole saw, weed wacker, and hedge trimmer with 2 2AH batteries/chargers for $200 and I'm really like them. They don't last very long on the 2AH batteries, but I have two, and I end up working for shorter intervals which I sho...
by Grt2bOutdoors
Fri Sep 14, 2018 4:46 pm
Forum: Personal Consumer Issues
Topic: I need a chainsaw to trim branches and limbs!!
Replies: 90
Views: 3803

Re: I need a chainsaw to trim branches and limbs!!

Wish I knew about this battery operated chainsaw last year, could have saved a bit of money taking down a small dogwood. A pole saw would have come in handy as well.
by Grt2bOutdoors
Thu Sep 13, 2018 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Paying down mortgage vs investing
Replies: 30
Views: 2439

Re: Paying down mortgage vs investing

Thanks for the reply. I will lock in a rate in the next week or two, but am looking at either 15/30 yr fixed loans which are roughly 3.75-4.25%. The house is under $300k making the mortgage payment approximately $1300-1900 depending on the term and whether we put 10 or 20% down. We could comfortabl...