Search found 672 matches

by IowaFarmBoy
Mon Jul 15, 2019 7:19 pm
Forum: Personal Consumer Issues
Topic: Hot water heater on pilot light
Replies: 21
Views: 1651

Re: Hot water heater on pilot light

Or most likely never . :) I don't know anybody who checks their anode ever. The need to do this varies greatly depending on your local water supply. I recently changed the anode out in our 5 year old heater and it was pretty much eroded away. Our municipal water is very hard on the anodes and the t...
by IowaFarmBoy
Fri Jul 12, 2019 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone inherited a obligation/burden/responsibility?
Replies: 76
Views: 7400

Re: Has anyone inherited a obligation/burden/responsibility?

I have two thoughts: 1) When I watch Antiques Roadshow, I see families bringing in items that belonged to some great...great grandfather that have now become an "heirloom". Things like old military uniforms, pictures, etc.,- not something like a Chippendale chair. They are so far removed from the pe...
by IowaFarmBoy
Sun Jul 07, 2019 8:28 pm
Forum: Personal Consumer Issues
Topic: Survived the First Week [of retirement, what's next?]
Replies: 69
Views: 7738

Re: Survived the First Week

I had one of those "ruh-roh" moments a year or so ago when there were rumors of buyouts coming at my company and I realized I could be done in a few weeks without any real plan. Fortunately (I think!) they didn't materialize and I didn't have to worry about it. It sounds like you were kind of caught...
by IowaFarmBoy
Fri Jul 05, 2019 4:41 am
Forum: Personal Finance (Not Investing)
Topic: Land in FEMA Flood Plain
Replies: 23
Views: 1621

Re: Land in FEMA Flood Plain

What is the elevation of where you would build relative to the 100 year flood level? Is the slope of the lot gradual or is there a big drop off? If it is only a few feet higher, it seems risky. If the improvements are a lot higher in elevation, then maybe not so much.
by IowaFarmBoy
Mon Jul 01, 2019 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Healthcare Nightmare after wife's surgery
Replies: 84
Views: 7287

Re: Healthcare Nightmare after wife's surgery

Could be another case of "drive-by" doctoring...
viewtopic.php?t=194385
by IowaFarmBoy
Sat Jun 29, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Illinois State Tax Loophole? What am I missing?
Replies: 53
Views: 4769

Re: Illinois State Tax Loophole? What am I missing?

I've been doing this for several years and it is quite simple. I think you pretty much have it figured out. I make a contribution to a traditional IRA and just put the money in a money market sweep account. As soon as it shows up, I initiate the conversion on the Vanguard website. I think your descr...
by IowaFarmBoy
Fri Jun 21, 2019 8:10 pm
Forum: Personal Consumer Issues
Topic: Tree stump, can't use a stump grinder. Solution?
Replies: 64
Views: 5643

Re: Tree stump, can't use a stump grinder. Solution?

The type of roots you are dealing with can vary greatly depending on the species. Some send a big tap root pretty much straight down. Others don't send much root down but send out a lot of horizontal roots. The species could greatly affect some of the advice about digging or cutting it out.
by IowaFarmBoy
Fri Jun 21, 2019 7:26 am
Forum: Investing - Theory, News & General
Topic: The problem in retirement we rarely discuss [what to do with stock funds]
Replies: 58
Views: 6091

Re: The problem in retirement we rarely discuss

I'm assuming these are in taxable accounts or else it wouldn't be an issue. I was a little unclear whether these were individual stocks or mutual funds. Here are some things that immediately come to mind: The perfect is the enemy of the good. They have done well. Do what they can, relax and enjoy li...
by IowaFarmBoy
Wed Jun 19, 2019 4:27 am
Forum: Personal Consumer Issues
Topic: Verizon to Xfinity Mobile for Cell Services
Replies: 13
Views: 907

Re: Verizon to Xfinity Mobile for Cell Services

We've never had "real" Verizon service but are now on Total Wireless (another Verizon MVNO so I think the service is roughly equal) and one of our daughters and her husband are on Xfinity using our internet service to quality. We use too much data to make Xfinity work for us but our daughter has sta...
by IowaFarmBoy
Sat Jun 15, 2019 12:41 pm
Forum: Personal Consumer Issues
Topic: IPhone 6 - showing some age
Replies: 67
Views: 4546

Re: IPhone 6 - showing some age

You could also buy a "battery case" for the iPhone. I was going to suggest the same thing but Stinky beat me to it. I also have the Apple case for my iPhone 7 and really like it. I found that I was perilously low by the end of many days. With this case, I never have to worry about it. It does add s...
by IowaFarmBoy
Sun Jun 09, 2019 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Paying for rent is throwing away money...myth?
Replies: 302
Views: 19268

Re: Paying for rent is throwing away money...myth?

Another way to think of it........If you have a mortgage, you are renting the money. So you are still renting something.
by IowaFarmBoy
Fri Jun 07, 2019 7:08 am
Forum: Personal Consumer Issues
Topic: Everyone ought to be required to have an umbrella policy and life insurance!
Replies: 13
Views: 1472

Re: Everyone ought to be required to have an umbrella policy and life insurance!

I think I am changing direction on this thread slightly- generally state required insurance is only for liability- for damage you cause to someone else. The OP's suggestions were for things that you buy to protect yourself. think there is a place for requiring drivers to be financially responsible f...
by IowaFarmBoy
Fri May 31, 2019 3:03 pm
Forum: Personal Investments
Topic: Just Got a Call From Fidelity
Replies: 55
Views: 7748

Re: Just Got a Call From Fidelity

In other news, my son got a letter from Vanguard threatening to kick him out of Voyager Select status which is amusing since he's never had more than $3,000 at Vanguard in his entire life. A guy at work was told he was getting kicked out of Flagship. He is not even close to 1M, but apparently when ...
by IowaFarmBoy
Wed May 22, 2019 6:24 am
Forum: Investing - Theory, News & General
Topic: Regression to the Mean - and our money
Replies: 16
Views: 1640

Re: Regression to the Mean - and our money

I've wondered about how we are interpreting regression to the mean. Is it a cause or is it an observation of the results? When I read statistical definitions, it seems to have more to do with randomness of measurements- it describes the situation of your first observation being extreme and your seco...
by IowaFarmBoy
Mon May 20, 2019 6:11 am
Forum: Personal Finance (Not Investing)
Topic: Selling home- Demanding Buyer (Repairs)
Replies: 337
Views: 26091

Re: Selling home- Demanding Buyer (Repairs)

In a former life, I was an electrician. The power company supplied the meter base but I was responsible for mounting it in a code-compliant location, part of which included the proper height. That location doesn't meet code. The power company would then run the line up to the meter and connect it. M...
by IowaFarmBoy
Sat May 18, 2019 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 36
Views: 2716

Re: Long Term Care Insurance

+1 to smitcat's advice There have been numerous threads on this topic and this field has changed a lot because the product hasn't worked as the actuaries originally forecast. You really need to get quotes to see what is available now. We bought in our late 40's (about 10 years ago). My dream policy ...
by IowaFarmBoy
Mon May 13, 2019 4:29 am
Forum: Personal Finance (Not Investing)
Topic: Transfer on Death Accounts
Replies: 40
Views: 4314

Re: Transfer on Death Accounts

Your executor may need some money available to settle your estate- final expenses, medical bills, special bequests, etc. Before my MIL passed, she went through her plan and will with us. I noticed she had made a bequest in her will but with all her TOD and beneficiary designations there wasn't going...
by IowaFarmBoy
Sun May 12, 2019 4:56 am
Forum: Personal Consumer Issues
Topic: Ever Had an Animal Stuck in Chimney? What Did You Do?
Replies: 32
Views: 2126

Re: Ever Had an Animal Stuck in Chimney? What Did You Do?

Thirty years ago when I was building houses, the damper only opened up so far (IIRC maybe 3-ish inches) and it made a fairly sharp bend to prevent downdrafts from blowing directly back in so you may not have much access with the route you are planning. I don't think I could have gotten my hand throu...
by IowaFarmBoy
Sat May 11, 2019 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Can wife Top off her Social Security benefits?
Replies: 33
Views: 4160

Re: Can wife Top off her Social Security benefits?

Thanks for quick response. So, you are saying Wife could start getting $300 this year and add about $400 (assuming reduction is $100 as an example) when Husband starts collecting his $1500 at his FRA (note that Husband is 1 year younger), right? That is my understanding. Technically, I believe the ...
by IowaFarmBoy
Sat May 11, 2019 10:09 am
Forum: Personal Investments
Topic: Evaluating Pension Options
Replies: 16
Views: 756

Re: Evaluating Pension Options

I would get the best projections of the benefits from all options that I can. Then I would calculate the present value of each stream to make sure there isn't a big advantage for one path. After that, I think it become a matter of how this fits into the rest of your plans- what other accounts do you...
by IowaFarmBoy
Fri May 10, 2019 6:33 am
Forum: Personal Finance (Not Investing)
Topic: What does "Minimum Life Company Rating" indicate at Term4Sale.com?
Replies: 5
Views: 449

Re: What does "Minimum Life Company Rating" indicate at Term4Sale.com?

There are guaranty funds that will pay you if the insurer goes.insolvent. This negates the value of the rating a bit. Frequently there are limitations on how much they will guarantee so you can't count on it for total protection. I just did a quick google on our state (Illinois) and the cap on bene...
by IowaFarmBoy
Sun May 05, 2019 5:03 am
Forum: Personal Investments
Topic: CDs in early retirement to enable Roth Conversions?
Replies: 33
Views: 3250

Re: CDs in early retirement to enable Roth Conversions?

[What I think you need (and you are able to do this, if you know Excel) is to build two scenarios: * what your age 71 situation will be like if you don't do any Roth conversions * what your age 71 situation will be like if you convert $50K (a number for which I'm making an educated guess) each year...
by IowaFarmBoy
Sat May 04, 2019 6:41 am
Forum: Personal Consumer Issues
Topic: Can anyone give me a ball park estimate on this roof repair?
Replies: 19
Views: 2244

Re: Can anyone give me a ball park estimate on this roof repair (pictures included)?

The cost is going to vary a lot based on what part of the country you are in. This seems like a pretty small job unless there is something like rotting plywood underneath which it sounds like the inspector didn't specify. If it is literally just going up on the rook and shooting some sealant under 5...
by IowaFarmBoy
Sat May 04, 2019 6:06 am
Forum: Personal Consumer Issues
Topic: Crawl Space vs. Concrete Slab House Foundation
Replies: 19
Views: 2361

Re: Crawl Space vs. Concrete Slab House Foundation

Either can be a good foundation is done correctly. A good home inspector can help you verify that. DW would prefer the crawlspace because she wants to live on a surface with some give rather than being on solid concrete all day because she believes it is easier on her joints. I think she probably ha...
by IowaFarmBoy
Fri May 03, 2019 1:23 pm
Forum: Investing - Theory, News & General
Topic: Estimating the rate of return on Social Security
Replies: 34
Views: 2663

Re: Estimating the rate of return on Social Security

I've been struggling with whether you can assume away inflation and the COLA benefits the way you have but I've almost convinced myself that you could do that if there is no inflation. However, that is far from the reality of the past. It would be interesting to run this analysis including inflation...
by IowaFarmBoy
Wed May 01, 2019 6:35 am
Forum: Personal Consumer Issues
Topic: Questions for Folks that Does Not Need Their 401k/IRA Funds in Retirement
Replies: 67
Views: 5023

Re: Questions for Folks that Does Not Need Their 401k/IRA Funds in Retirement

We will be in the position of pension and SS covering our expenses. In addition at retirement at 62, we should have 15x expenses in savings. We've lived frugally but comfortably and don't really plan on changing in retirement. Maybe a little more travel but that won't be huge. No real regrets about ...
by IowaFarmBoy
Thu Apr 25, 2019 5:40 am
Forum: Personal Consumer Issues
Topic: Wifi extenders vs Mesh network
Replies: 54
Views: 4080

Re: Wifi extenders vs Mesh network

We bought the Google wifi mesh system a year or two ago. It is a great system. Good coverage throughout our house, fast speeds and I can move around with no issues. Previously, I had two routers in different parts of the house. When I bought, there weren't many options for mesh so Google was the bes...
by IowaFarmBoy
Mon Apr 22, 2019 5:21 am
Forum: Personal Consumer Issues
Topic: update 70s kitchen or nah?
Replies: 49
Views: 3703

Re: update 70s kitchen or nah?

The only reason to do all this really is to make the house more presentable in the event we sell 5-10 years hence which we probably should do because of the stairs and the maintenance hassles. If this statement is how you really feel, I wouldn't do it. You're content with what you have, an update w...
by IowaFarmBoy
Fri Apr 19, 2019 6:30 am
Forum: Personal Finance (Not Investing)
Topic: The reality of borrowing from your 401k for home mortgage
Replies: 48
Views: 3322

Re: The reality of borrowing from your 401k for home mortgage

How do the mechanics of your 401k loan work? Does it work like a margin loan where your money remains invested in the underlying asset or is the money borrowed removed from whatever fund you are invested in and put into some kind of loan category? If it is pulled from the investment, you really aren...
by IowaFarmBoy
Fri Apr 19, 2019 6:20 am
Forum: Personal Finance (Not Investing)
Topic: dropping umbrella and increasing auto liability
Replies: 56
Views: 3419

Re: dropping umbrella and increasing auto liability

I did this when our kids started driving. The premium on our umbrella went from $160 to around $750. There were significantly more discounts available on the auto policy for things like being a good student, completing a safety class, etc. The surcharge for youths on the auto policy also dropped as ...
by IowaFarmBoy
Fri Apr 19, 2019 6:05 am
Forum: Personal Consumer Issues
Topic: Basement water issues
Replies: 37
Views: 3091

Re: Basement water issues

I think you have done a good job analyzing your situation. It sounds like you have some tough exterior issues that may not be easily resolvable. Have you looked at something like the link below? It would work something like your interior drain system but could be a lot cheaper. It's basically a base...
by IowaFarmBoy
Tue Apr 16, 2019 5:13 am
Forum: Personal Finance (Not Investing)
Topic: Is it a no brainier to donate appreciated shares to a charity?
Replies: 13
Views: 1504

Re: Is it a no brainier to donate appreciated shares to a charity?

If things play out as you present, it is a wash. Say you intend to make a $10000 donation. If you itemize, you get to deduct $10000 either way. If you donate stock, you avoid the capital gains now. If you donate cash and retain the stock, your stepped up basis means your heirs avoid capital gains. I...
by IowaFarmBoy
Tue Apr 16, 2019 5:03 am
Forum: Investing - Theory, News & General
Topic: Career Advice: Is active management really dying?
Replies: 28
Views: 3256

Re: Career Advice: Is active management really dying?

I think there is definitely a demand for skilled financial advisors. The problem for the advisor is how to get paid enough to have an income comparable to your other options. A 1% assets under management fee seems pretty standard but it is a massive drain on returns (at least to Bogleheads). Likewis...
by IowaFarmBoy
Sun Apr 14, 2019 3:40 pm
Forum: Personal Consumer Issues
Topic: Anyone have a child model?
Replies: 42
Views: 4625

Re: Anyone have a child model?

If your child can earn a few $K at a very young age and invest in a Roth IRA, it would be a lot of money down the road. $3K compounded at 7% for 70 years is $342K... Nope, try $4.6 million. TravelforFun Nope. The $342k is right unless you were assuming multiple years of $3k contributions. Just chec...
by IowaFarmBoy
Sun Apr 14, 2019 6:02 am
Forum: Personal Investments
Topic: Savings by 30?
Replies: 45
Views: 6006

Re: Savings by 30?

While it is a nice chunk of money and likely better than most 30 year olds, I don't think an absolute number (like $100k) means much without knowing what it is for and how you have gotten there. This amount could mean very different things if you plan to use it all for a house down payment in a year...
by IowaFarmBoy
Sat Apr 13, 2019 9:18 am
Forum: Personal Finance (Not Investing)
Topic: Roth 401(k) - Is this normal?
Replies: 35
Views: 1758

Re: Roth 401(k) - Is this normal?

My 401k works that way. It is treated as one big pool for which they keep track of the percentages of Roth and traditional. I cannot separate the investments so the Roth and traditional are just proportions of that pool. At withdrawal time, I cannot specify that I want a Roth or traditional withdraw...
by IowaFarmBoy
Sun Apr 07, 2019 5:35 am
Forum: Personal Investments
Topic: Fidelity Bonus?
Replies: 6
Views: 1629

Re: Fidelity Bonus?

If only there were some sort of thread where we could collect information on brokerage bonuses. It would need to be both final and definitive though. :P In case someone didn't catch what you were saying, here it is... https://www.bogleheads.org/forum/viewtopic.php?t=196884 I moved a few hundred tho...
by IowaFarmBoy
Sat Apr 06, 2019 7:35 am
Forum: Personal Finance (Not Investing)
Topic: Any reason for younger wife not to file at FRA? When her benefit is much smaller.
Replies: 16
Views: 1087

Re: Any reason for younger wife not to file at FRA? When her benefit is much smaller.

In the scenario you describe, there is no benefit for her to wait past her FRA age. She will get her benefit amount until you turn 70 and then she will get half of your PIA. This is not half of your benefit at age 70 but half of your benefit at FRA. Delaying your benefit past FRA doesn't increase he...
by IowaFarmBoy
Fri Apr 05, 2019 4:54 am
Forum: Personal Finance (Not Investing)
Topic: What? No Income?
Replies: 62
Views: 7149

Re: What? No Income?

This is a great post. I'm in the same situation as the OP. I'm 60 and a little over a year out from what I consider my earliest "voluntary" retirement age based on our pension plan details. I've always thought I would go a little longer because of the extra pension I would build up and the money I w...
by IowaFarmBoy
Sat Mar 30, 2019 5:53 am
Forum: Personal Consumer Issues
Topic: What to see in Philly?
Replies: 87
Views: 5951

Re: What to see in Philly?

If you are into offbeat, sometimes grotesque, medical stuff check out the Mutter Museum.
http://muttermuseum.org/
by IowaFarmBoy
Fri Mar 29, 2019 7:31 pm
Forum: Personal Finance (Not Investing)
Topic: When to take social security for maximum inheritance?
Replies: 31
Views: 2835

Re: When to take social security for maximum inheritance?

The best answer is probably dependent upon when I will die. This. Along with what you expect your investment returns to be. SS starting ages are set up to be actuarially neutral for average life expectancies. So if you live longer than average, you win, Live a shorter time than average, you lose. S...
by IowaFarmBoy
Mon Mar 25, 2019 4:22 am
Forum: Personal Consumer Issues
Topic: I would like a boat. I also know nothing about boats
Replies: 147
Views: 9001

Re: I would like a boat. I also know nothing about boats

Another thought might be to look at what types of boats are common on the lake? The size of the lake might affect your decision, one of our local lakes has a horsepower restriction, etc. Have you talked to neighbors with boats?
by IowaFarmBoy
Sat Mar 23, 2019 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Adivce - RMD and Taxes
Replies: 5
Views: 593

Re: Adivce - RMD and Taxes

Another factor to keep in mind is that (sadly) one of you will die and the other will likely be filing as single at some point, hopefully years down the road. This means that your tax brackets will be different and you standard deduction will be smaller. This has the potential to push you into highe...
by IowaFarmBoy
Sat Mar 23, 2019 10:05 am
Forum: Personal Investments
Topic: Investing in vacant land (acerage)
Replies: 22
Views: 2560

Re: Investing in vacant land (acerage)

Just a general comment about your question- the answers are going to be very different depending on where you live and the type of land you are talking about. For example, Class A farmland in Illinois or Iowa that is almost all tillable as large fields will be very different from farmland in a more ...
by IowaFarmBoy
Fri Mar 22, 2019 11:51 am
Forum: Personal Consumer Issues
Topic: Downsides to Total Wireless as alternative to Verizon?
Replies: 18
Views: 11395

Re: Downsides to Total Wireless as alternative to Verizon?

We've been with Total Wireless for about a year with a family plan composed of me, my spouse, our daughter and her husband. We switched from Sprint. I think we all feel the coverage is generally better than Sprint was. We see some gaps where roaming isn't available but they aren't common and I think...
by IowaFarmBoy
Fri Mar 15, 2019 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Letting umbrella insurance lapse
Replies: 30
Views: 2642

Re: Letting umbrella insurance lapse

Your agent's advice surprises me too. A gap in coverage for an auto policy is definitely a bad thing. It means you have been driving uninsured which in many states is illegal. But I don't see the same thing applying to umbrella policies. Most of us did not buy umbrellas as soon as we bought our firs...
by IowaFarmBoy
Fri Mar 15, 2019 6:36 am
Forum: Personal Finance (Not Investing)
Topic: Massive Increase in Long Term Care Insurance for My Parents - Can They?
Replies: 65
Views: 4975

Re: Massive Increase in Long Term Care Insurance for My Parents - Can They?

We purchased a LTC policy a little over 10 years ago in our late 40s. It was one of the toughest financial decisions I have ever tried to sort out. It's a significant amount of money and it is a benefit that our most likely time of use would be 40-ish years down the road. There are so many unknowns ...
by IowaFarmBoy
Tue Mar 05, 2019 6:59 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone leaving behind a scholarship fund?
Replies: 63
Views: 3981

Re: Anyone leaving behind a scholarship fund?

I don't have any plans to do so but the small rural high school I graduated from has one that I could contribute to or work with. That seems a lot simpler than trying to set up a trust and have it managed after I am gone.
by IowaFarmBoy
Sun Mar 03, 2019 7:04 am
Forum: Personal Finance (Not Investing)
Topic: SS Calculators, PIA and Cola Adjustments Sanity Check
Replies: 6
Views: 605

Re: SS Calculators, PIA and Cola Adjustments Sanity Check

Thanks Neurosphere for the good explanation and making a good tool! It is amazing and I understand why you wrote it the way you did. And thank you for answering my question- that was what I needed. Here's why I think I want future dollars. I will have a variety of income sources including SS, a non-...