Search found 269 matches

by mattsm
Thu Feb 29, 2024 10:11 pm
Forum: Personal Consumer Issues
Topic: When do electric cars stop making sense?
Replies: 210
Views: 16093

Re: When do electric cars stop making sense?

At 40 or 50 cents/kWh I can't imagine a solar + battery system won't pay itself off in 5 years maybe less. We have a couple EVs and solar + battery system; both EVs are nearly 100% solar powered. Are you in California with one of the investor-owned utilities, such as PG&E, and on an NEM3 rate ? The issue with NEM3 is that your solar PV will be credited at generation rates when you feed onto the grid, and that is only about 1/4 of the rate you get charged when you pull electricity from the grid, which includes distribution fees. So, you might pay 45 cents per kWh for nightly/cloudy days/winter usage. But your PV in the daytime on sunny days is credited at just 11 cents/kWh . No practical battery can fully eliminate the distribution fees...
by mattsm
Sun Feb 11, 2024 11:07 pm
Forum: Personal Finance (Not Investing)
Topic: Who In Their Right Mind Files Gift Tax Returns? And Why?
Replies: 114
Views: 16152

Re: Who In Their Right Mind Files Gift Tax Returns? And Why?

rambogleas wrote: Fri Feb 09, 2024 10:39 pm
mattsm wrote: Fri Feb 09, 2024 9:52 pm It's my money's worth to have my children be present on a vacation. So I am paying for them to come for MY enjoyment and it's worth my money.

Easily justified as a family member, less so with a stranger...
Donors give for many reasons. Your enjoyment is a worthwhile and valid reason, but the definition of whether a transfer is a gift is not based on the donor's rationale for giving.

Quoting from the IRS stats of 2021 gifts (https://www.irs.gov/pub/irs-pdf/p5368.pdf): "Donors gave to 800,505 donees. Of these, almost 81.2 percent were relatives of the donor, including 52.4 percent who were their children."
Care to share a more relevant link besides stats explaining the IRS views?
by mattsm
Sun Feb 11, 2024 11:01 pm
Forum: Personal Consumer Issues
Topic: Hybrid Car - Cost Savings?
Replies: 68
Views: 6938

Re: Hybrid Car - Cost Savings?

livesoft wrote: Sun Feb 11, 2024 8:36 am
PoundCake wrote: Sun Feb 11, 2024 7:00 am... I put gas in my car about once a month. And my mate almost never uses the gas in his hybrid.
I have a Subaru Outback and put gas in my car about once a month, too. Actually, 10 times in 2023. :). So as noted things depend on how much one uses their car.
Hey I'll try- I've got a Pacifica PHEV and we've gotten gas a dozen times after 30k miles / 3 years. All depends on distance and trips and when you can recharge. I worry sometimes if we are using the gas engine enough.

-M
by mattsm
Fri Feb 09, 2024 9:52 pm
Forum: Personal Finance (Not Investing)
Topic: Who In Their Right Mind Files Gift Tax Returns? And Why?
Replies: 114
Views: 16152

Re: Who In Their Right Mind Files Gift Tax Returns? And Why?

It's my money's worth to have my children be present on a vacation. So I am paying for them to come for MY enjoyment and it's worth my money.

Easily justified as a family member, less so with a stranger...
by mattsm
Thu Dec 07, 2023 11:12 pm
Forum: Personal Consumer Issues
Topic: New Set of Tires
Replies: 77
Views: 8568

Re: New Set of Tires

I am here to say that whoever says Costco is fast must be either crazy or go to a tire center that is simply not busy.

Everything about Costco Tire Center in my experience = slow.

My main complaint though.
by mattsm
Sun Sep 10, 2023 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: How to budget for a newborn
Replies: 43
Views: 3796

Re: How to budget for a newborn

delamer wrote: Sun Sep 10, 2023 9:08 pm
BarbBrooklyn wrote: Sun Sep 10, 2023 8:53 pm The BEST money my daughters spent was on a lactation consultant.

Pricey, but ultimately priceless. Find out who your local magical lady is and talk to her now, before the baby is born.
Nothing wrong with having an expert “on call” if you need one.

But lots of mothers & babies don’t need any more help than they get in the hospital.
Also insurance covers a lactation consultant. But usually requires filing manually.
by mattsm
Fri Sep 01, 2023 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Ways around Chase 5/24 and low credit score to get new business card?
Replies: 37
Views: 4610

Re: Ways around Chase 5/24 and low credit score to get new business card?

Chase has been lenient on some apps lately. I was over 5/24 and they approved a Ink Preferred card recently.

-M
by mattsm
Wed Aug 02, 2023 10:00 pm
Forum: Personal Consumer Issues
Topic: HVAC and electrical load issues?
Replies: 32
Views: 1893

Re: HVAC and electrical load issues?

New build here, builder used some really cheap LED bulbs. Replacing them and they didn't flicker anymore. For me it was washing machine.
by mattsm
Wed Apr 05, 2023 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Garage door hit another car - how to deal with it?
Replies: 66
Views: 7895

Re: Garage door hit another car - how to deal with it?

It's very obviously their fault for parking there, you can't even see from the inside of the garage as others have stated. There is no information suggesting that the garage has access from inside. According to the post, the operator was outside and around the corner of the building on their way to the door. They activated their remote control without seeing if the way was clear seconds before rounding the corner. Three seconds of careless impatience was the cause of this damage. Operating mechanical machinery using a remote control without having visual confirmation of safety is negligence. This is a semi-public condo common area where anyone could be present at any time. As mentioned previously, it could have struck the face of a child a...
by mattsm
Tue Apr 04, 2023 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Garage door hit another car - how to deal with it?
Replies: 66
Views: 7895

Re: Garage door hit another car - how to deal with it?

Just let insurance deal with it. It's very obviously their fault for parking there, you can't even see from the inside of the garage as others have stated.

More likely their insurance just pays for their damage because it's not worth spending a single bit of time over this for them.

But yea terrible design.
by mattsm
Fri Dec 30, 2022 11:03 pm
Forum: Investing - Theory, News & General
Topic: A case for overfunding your FSA
Replies: 12
Views: 1467

Re: A case for overfunding your FSA

Suppose you are a high-income Boglehead. You are maxing all your tax-advantaged accounts. Your FSA is maybe your last option to set aside pre-tax dollars. However, an FSA is "use it or lose it" -- any funds you don't spend by the end of the year are forfeited. Therefore, the standard advice is to fund your FSA for only expenses you know you will incur. However, I believe that this advice is influenced by loss aversion, and that high-income folks should consider funding their FSAs beyond what they are sure they will spend. I claim the following: FSA-eligible spending is variable and cannot be entirely predicted in advance. Stuff happens, and sometimes health care expenses are higher than expected. Sometimes much higher. If you are...
by mattsm
Thu Dec 29, 2022 6:25 pm
Forum: Personal Investments
Topic: Do new 529 rules allow this?
Replies: 15
Views: 2042

Re: Do new 529 rules allow this?

nps wrote: Thu Dec 29, 2022 6:21 pm
Makefile wrote: Thu Dec 29, 2022 6:19 pm
mattsm wrote: Thu Dec 29, 2022 6:16 pm Right per author why shouldn't I put a bit in a 529 and use it for Roth contributions later? Specifically useful if I have no income some years.
Because unlike "real" rollovers, for the purpose of the Roth contribution limit it's treated as a contribution, so it would be of no help in a no-income year.
Right. You/your spouse would still need to have earned income to be able to make the 529-to-Roth contribution.
Ok then the value is just letting the growth build up over 15 years then making a non taxable no fee Roth contribution?
by mattsm
Thu Dec 29, 2022 6:16 pm
Forum: Personal Investments
Topic: Do new 529 rules allow this?
Replies: 15
Views: 2042

Re: Do new 529 rules allow this?

Right per author why shouldn't I put a bit in a 529 and use it for Roth contributions later? Specifically useful if I have no income some years.
by mattsm
Thu Oct 06, 2022 2:00 pm
Forum: Personal Consumer Issues
Topic: New EV: Type of Level 2 Charging for Garage?
Replies: 135
Views: 10339

Re: New EV: Type of Level 2 Charging for Garage?

Lots of places require GFCI circuit breakers for the NEMA outlets which can cause issues with your cars equipment causing the breaker to trip. So an electrician will have to do that... unless you do it yourself.

Just a heads up, that's why you have hardwired instead of outlets.

-M
by mattsm
Tue Oct 04, 2022 9:47 pm
Forum: Personal Consumer Issues
Topic: Medical bills going to collection - insurance mess up
Replies: 45
Views: 4588

Re: Medical bills going to collection - insurance mess up

BogleMelon wrote: Tue Oct 04, 2022 3:06 pm
mattsm wrote: Fri Sep 30, 2022 9:17 pm Don't pay if you don't owe
Unless the insurance agrees to pay, then he technically owe to the lab the money.
Maybe. Id be in no rush to pay. They messed up billing. You have solid ground to stand on. Medical debt is not a huge issue on your credit. I've ridden out medical debt until it falls off.
by mattsm
Wed Aug 24, 2022 8:17 am
Forum: Personal Consumer Issues
Topic: Do solar panels keep the house cooler?
Replies: 27
Views: 2935

Re: Do solar panels keep the house cooler?

I'd posit they are converting something that would otherwise heat the roof into electricity so maybe?!?

Just a guess though.
by mattsm
Mon Aug 15, 2022 6:41 pm
Forum: Personal Consumer Issues
Topic: Building a small battery backup with life4po 12v100ah battery?
Replies: 42
Views: 2742

Re: Building a small battery backup with life4po 12v100ah battery?

With a good inverter that battery can power most fridges for a good bit.

1200Watts Pure Sine Wave Power Inverter DC 12V to AC 120V with Remote Control USB Port & LED Display for RV Laptop & Emergency https://a.co/d/93ivGbr

Example above. My garage freezer uses 75w while running (after surge) and the battery above would power it a good long while.
by mattsm
Fri Apr 01, 2022 7:21 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring nanny
Replies: 16
Views: 2371

Re: Hiring nanny

If you want it to be easy just use something like this: https://www.care.com/homepay
by mattsm
Tue Feb 01, 2022 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Do we spend too much in groceries?
Replies: 105
Views: 12103

Re: Do we spend too much in groceries?

We have a 12 month old baby.

We started buying all sorts of new foods etc to get him to try as much as possible. He doesn't even eat any of it but hopefully, he's learning the tastes and textures. A lot of things get thrown out too, we're pressed for time so it's tough.

Before we'd just make simple cheap things too. But we do eat out a lot less, so maybe it's a wash? I dunno.

But I notice the change and am not sure I'd do anything about it. Free time is more important than ever.
by mattsm
Mon Jun 14, 2021 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking general advice; turning 33 in a couple months
Replies: 32
Views: 5376

Re: Seeking general advice; turning 33 in a couple months

tugofpeace2 wrote: Sun Jun 13, 2021 10:57 pm
mattsm wrote: Sun Jun 13, 2021 10:13 pm You can withdraw money before 59.5
What about taxes? I thought the whole point was to not touch retirement savings until 59.5
RMDs, and you can start earlier without paying any penalty. You can touch retirement money when you retire.
by mattsm
Sun Jun 13, 2021 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking general advice; turning 33 in a couple months
Replies: 32
Views: 5376

Re: Seeking general advice; turning 33 in a couple months

I thought about retirement, and realized that if I were to max everything out, I would be struggling to have spending money.. it would be like being in debt all over again. I see the point you were trying to make about lifestyle, but I assure you building a positive net worth does not feel like being in debt, no matter how much you have to cut to do it. Yes, cutting spending isn't particularly fun, but building a positive net worth just gives you so much financial flexibility. While Bogleheads isn't specifically a FIRE community, I think in many ways, there is some overlap in that most people here heavily prioritize building a retirement portfolio. However, it's not actually a binary thing where the only options are either a comfy retireme...
by mattsm
Mon May 17, 2021 8:56 pm
Forum: Personal Consumer Issues
Topic: Roku - Last Ditch Effort
Replies: 23
Views: 3434

Re: Roku - Last Ditch Effort

Hello,

If you are able I would hotspot with your phone and see if it connects that way. Then let the device update and see if it will work with your Wifi again after that.

-Matthew
by mattsm
Sun Apr 25, 2021 11:33 pm
Forum: Personal Investments
Topic: Solo 401k
Replies: 3
Views: 534

Re: Solo 401k

Probably needs to be different tax years but I am no expert.
by mattsm
Mon Mar 29, 2021 9:31 pm
Forum: Personal Consumer Issues
Topic: Family car
Replies: 91
Views: 9612

Re: Family car

Got a loaded #1 ( Chrysler Pacifica Hybrid Limited ) for $33k OTD after the federal tax rebate. So far only gone a few miles on gas. Like it so far.
by mattsm
Sun Mar 21, 2021 11:38 pm
Forum: Personal Investments
Topic: Adding independent contractor to full time salaried
Replies: 8
Views: 1264

Re: Adding independent contractor to full time salaried

Yea tax wise there is no clear answer. Simplicity might win.
by mattsm
Wed Mar 17, 2021 6:24 pm
Forum: Personal Consumer Issues
Topic: How do you determine consulting hourly rate?
Replies: 15
Views: 1752

Re: How do you determine consulting hourly rate?

As much as they will pay.
by mattsm
Mon Mar 15, 2021 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity customer service declining?
Replies: 95
Views: 12060

Re: Fidelity customer service declining?

Fidelity has gone downhill for me. So much so that I am seriously considering moving everything away from them.

Can't visit branches. Can't chat, weeks wait for secure email messages.

I can nag and they might call me, but I can't always answer the phone.

-M
by mattsm
Sat Mar 13, 2021 11:14 pm
Forum: Personal Investments
Topic: Adding independent contractor to full time salaried
Replies: 8
Views: 1264

Re: Adding independent contractor to full time salaried

Yes, it seems like you maxed out EE (employee) contributions but you can still make ER (employer) contributions.

You can make 20% (or 25%... you should read up) of your gross profits as an ER contribution to a 401k for example. So if you make 1200 / month you can do roughly $240 a month as employer contribution if you are a sole prop.

Not really going into detail here, but know that you can do more if you want more tax deferral. Sorry it's late ;-)
by mattsm
Thu Mar 11, 2021 11:10 pm
Forum: Personal Finance (Not Investing)
Topic: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?
Replies: 130
Views: 18544

Re: Skip $10.5k Dependent Care FSA to get $8k Child Care Tax Credit @ 50% daycare expenses in 2021?

You can usually do a DCFSA when there is a qualifying event. Not sure if this is one but they should all be setup for changes mid year at least.
by mattsm
Fri Feb 26, 2021 12:52 am
Forum: Personal Investments
Topic: Layoff preparation and Finance Review
Replies: 19
Views: 2827

Re: Layoff preparation and Finance Review

Primary Home Mortgage: 3% interest rate on a 15 year fixed term, 12 years left. Worth 400k and mortgage is 230k left. Monthly payment $2400 Should we consider refinance our mortgage on the primary home? If we refinance into 30 years with 3%, then the monthly payment will be lowered to $1500. I'd refi the loan to a new 15 year - especially if you can still find 2.25% at zero cost after the recent uptick. You should at least be able to find 2.5% no cost. This would have the beneficial effect of both lowering your interest rate, and spreading the payments out again over a longer term, lowering your monthly. Roughly 2/3 of your payment is going to principal, so, unlike the 30 year, a major portion of your 15 year payment can be considered &quo...
by mattsm
Fri Feb 26, 2021 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Old (supposed) debt now with collector
Replies: 18
Views: 2148

Re: Old (supposed) debt now with collector

Medical debt falls off credit report after 7 years. You are basically in the clear at this point +/- a few weeks/months.
by mattsm
Fri Feb 19, 2021 12:35 am
Forum: Personal Consumer Issues
Topic: Any Boglehead Lessons From the Texas Winter Storm?
Replies: 226
Views: 23236

Re: Any Boglehead Lessons From the Texas Winter Storm?

We have a new house with a fire suppression system... that is full of water at all times. Turn it off and drain it in an event like this.

Some other folks have the same thing but theirs is in a fire closet and the HOA did not turn theirs off... lots of them had leaks.

Otherwise, I did the usual and covered faucets and dripped water. Not sure how this house would have held up as we did not lose power. It's making me seriously consider a NG generator to power the heat pump if this ever happens again and we lose power. That or proactively turn off the water.

-M
by mattsm
Sun Feb 07, 2021 10:30 am
Forum: Personal Consumer Issues
Topic: Laptop Decision
Replies: 78
Views: 6196

Re: Laptop Decision

I have an M1 with 8GB of memory (coming from older MB with 16GB) and the laptop is above and beyond. It seems faster than my i9 MBP with 16GB and the battery lasts forever.

The only downside is it only supports 1 external monitor so I can't use my full desk setup with the TB hub.

I run a few different web browsers with lots of tabs and a few other lightweight apps though. So nothing too crazy (although Firefox + Chrome at the same time can put my MBP on it's knees and this guy doesn't break a sweat- if it does I don't notice because there are no FANS- it's amazing).
by mattsm
Mon Nov 02, 2020 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: HOA stopping my rental
Replies: 80
Views: 9520

Re: HOA stopping my rental

KingRiggs wrote: Mon Nov 02, 2020 12:58 pm
hershey102d wrote: Mon Nov 02, 2020 12:55 pm I would seek legal advice and see if you are ‘grandfathered’.
Agree. Although I must say that if I bought a property in an upscale neighborhood and found out that I had moved in next to a rental property, I would NOT be happy. No matter how nice and quiet the renter might be. Absolutely kills the property value.
That's pretty aggressive lol... Renters can be just fine.
by mattsm
Sun Nov 01, 2020 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: New opportunity in Austin vs current employer in california
Replies: 36
Views: 3269

Re: New opportunity in Austin vs current employer in california

If you can get that in Austin, you can get that or more in the Bay Area.

But those numbers in Austin are way better than what you have... move for sure unless you want to find something else in the Bay Area.

-M
by mattsm
Mon Sep 28, 2020 9:43 pm
Forum: Personal Finance (Not Investing)
Topic: 401K Overpayment - Ex Employer Asking for Money Back
Replies: 173
Views: 15899

Re: 401K Overpayment - Ex Employer Asking for Money Back

It doesn't sound like an illegal contribution.

Inform them your hourly rate for fixing all issues is $500/hr and a minimum of 40 hours.

-M
by mattsm
Wed Sep 09, 2020 9:01 pm
Forum: Personal Investments
Topic: Do I really own anything if everything can require a Medallion signature which I can never get?
Replies: 71
Views: 9702

Re: Do I really own anything if everything can require a Medallion signature which I can never get?

I needed one for a rollover of a 401(k). I wrote CALL MY NUMBER ON FILE DUE TO CURRENT CIRCUMSTANCES in lieu of the medallion and they called to confirm my identity. It's a little bit weird but in the end, it made sense.

-M
by mattsm
Tue Sep 08, 2020 11:05 am
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 71
Views: 10846

Re: House sale quandary - got offer from neighbor before agent listed house

ScubaHogg wrote: Mon Sep 07, 2020 9:34 pm
mattsm wrote: Mon Sep 07, 2020 6:18 pm You could offer your real estate agent 3% or whatever they would have gotten and eat it. They still do some stuff on the back end.
You think the OP should pay an agent $10,000+ (probably) for doing a little paperwork a lawyer could do better?
If it helps the OP sleep at night. They did agree to those terms already by selecting them as a realtor.

-M
by mattsm
Tue Sep 08, 2020 11:04 am
Forum: Personal Consumer Issues
Topic: Managing Indoor Humidity
Replies: 62
Views: 4530

Re: Managing Indoor Humidity

Set the thermostat lower so it runs more, main reason we keep our house in Texas at 70-73 is simple to keep the humidity under control. Set the range to 2 degrees so it runs longer when it does come on and has time to ramp up and grab more water our of the air. 0.5 degrees will exacerbate the problem. Turn off auto for the fan, as the fan will keep running when the AC turns off / is off and that tends to blow the water on the condenser back into the house Make sure all openings are closed, like the Fireplace vent (when not in use), some people make sure toilet seats are closed too (fun to think about) Make sure the blower is sealed very well, ours is in our attic (non-conditioned space, not ideal) but it can pull in Humidity from that locat...
by mattsm
Mon Sep 07, 2020 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: House sale quandary - under contract!
Replies: 71
Views: 10846

Re: House sale quandary - got offer from neighbor before agent listed house

You could offer your real estate agent 3% or whatever they would have gotten and eat it. They still do some stuff on the back end.
by mattsm
Sat Aug 01, 2020 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: To rent out, or to sell?
Replies: 20
Views: 1693

Re: To rent out, or to sell?

Rent a $500k home for $2.5k / month?

The numbers simply DO NOT work. I'm in Austin thinking about renting or selling a place for $350k that rents for $2.3k-ish and the numbers don't work.

EDIT: my home like yours is also upgraded, makes it worse for renting since you don't really get any extra premum for that upgrade and the tenants destroy it.

-M
by mattsm
Thu Jul 09, 2020 11:38 pm
Forum: Personal Investments
Topic: Is there a minimum time to work as a contractor to be able to contribute the full $19,500 for my emp solo 401k for 2020?
Replies: 9
Views: 719

Re: Is there a minimum time to work as a contractor to be able to contribute the full $19,500 for my emp solo 401k for 2

Employee contributions are 19.5k for the entire year across all plans.

Employer contributions are separate.... and each company does not affect one another. E.g. your new jobs match does not affect your solo 401k employer contribution. I suggest looking at what you can do there online, but it's something like 25% of your gross income for the business as a max up to 50k-ish.
by mattsm
Wed Jul 08, 2020 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Can I have both self-employed 401k and 401K from a W2 job?
Replies: 3
Views: 593

Re: Can I have both self-employed 401k and 401K from a W2 job?

The personal limit is combined across accounts, so 19.5k (I think for 2020). ER contributions are independent of each plan.
by mattsm
Wed Jul 08, 2020 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Cancelling my disability insurance?
Replies: 9
Views: 1187

Re: Cancelling my disability insurance?

The only thing to consider is personal DI is usually much better than what's given through a group setting.
by mattsm
Sun Jul 05, 2020 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Are we FINANCIALLY ready to buy our first house?
Replies: 11
Views: 1322

Re: Are we FINANCIALLY ready to buy our first house?

Yes assuming no other expensive indulgences and even then it's probably ok.