Search found 518 matches

by IowaFarmBoy
Fri Jul 13, 2018 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Logging out 20 acre lot?
Replies: 37
Views: 2421

Re: Logging out 20 acre lot?

You should also look into whether the bank has a security interest in the timber, i.e., whether they will have first lien on the proceeds from selling the timber. You may need to turn the proceeds over to them. ( I did a quick google about this idea and it looks like this is commonly included in are...
by IowaFarmBoy
Wed Jul 11, 2018 7:57 am
Forum: Personal Finance (Not Investing)
Topic: Dad asked for my help on pension decision that I do not understand
Replies: 43
Views: 3253

Re: Dad asked for my help on pension decision that I do not understand

Immediate Annuity Payment- -Elect to start monthly benefit payments effective September 2018 --Single Life Annuity - $331.32 month --50% Joint and Survivor Annuity - $296.93 month + $148.47 month to your survivor after death for rest of their life --75% Joint and Survivor Annuity - $282.27 month + ...
by IowaFarmBoy
Wed Jul 11, 2018 5:22 am
Forum: Personal Finance (Not Investing)
Topic: Car totaled by uninsured driver
Replies: 37
Views: 3359

Re: Car totaled by uninsured driver

We've had a couple of cars totaled by uninsured drivers who didn't seem to have many resources. In both cases our uninsured/underinsured coverage (State Farm) paid us the value of the car minus our $250 deductible. After a few months, each time we received a check for our deductible. While I don't ...
by IowaFarmBoy
Tue Jul 10, 2018 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Grandmas Living Trust... Need Advice
Replies: 22
Views: 1359

Re: Grandmas Living Trust... Need Advice

Make sure you sit down with your grandmother & go over all assets, safe deposit boxes, saving bonds, etc. It is a lot easier when someone is alive, rather than going through files, tax returns, etc after they have passed. Create a spreadsheet to list things so you know what she has and where it is ...
by IowaFarmBoy
Tue Jul 10, 2018 5:23 am
Forum: Personal Finance (Not Investing)
Topic: Car totaled by uninsured driver
Replies: 37
Views: 3359

Re: Car totaled by uninsured driver

We've had a couple of cars totaled by uninsured drivers who didn't seem to have many resources. In both cases our uninsured/underinsured coverage (State Farm) paid us the value of the car minus our $250 deductible. After a few months, each time we received a check for our deductible. While I don't k...
by IowaFarmBoy
Sun Jul 08, 2018 6:58 am
Forum: Personal Consumer Issues
Topic: Quality/speed of Xfinity Mobile hotspots
Replies: 3
Views: 242

Quality/speed of Xfinity Mobile hotspots

I'm looking at changing phone plans and one I have under consideration is the Xfinity Mobile plan. We're existing Comcast customers so we have had access to the Comcast hotspots for years. My impression has been that while I can see a lot of them, it is frequently hard to get a strong signal so they...
by IowaFarmBoy
Fri Jul 06, 2018 5:00 am
Forum: Investing - Help with Personal Investments
Topic: Fractional equity shares
Replies: 5
Views: 545

Re: Fractional equity shares

Fractional shares are what you get when you invest an amount of money into a mutual fund that isn't an exact multiple of the price. This is very common since you don't know what the price will be when you place an order to buy the mutual fund since you get it at the closing price. For example, if yo...
by IowaFarmBoy
Fri Jul 06, 2018 4:48 am
Forum: Personal Consumer Issues
Topic: Every Other Friday Off
Replies: 52
Views: 5047

Re: Every Other Friday Off

I've been working a 9x80 for almost 20 years and have really liked it. I have mine set up so I only work 7.5 hours on the Fridays I do work so even that feels like a short day. I am generally able to move my off day around if I need to for activities. It has saved me a lot of vacation days over the ...
by IowaFarmBoy
Thu Jul 05, 2018 5:32 am
Forum: Investing - Help with Personal Investments
Topic: When is ok to change your IPS?
Replies: 21
Views: 1226

Re: When is ok to change your IPS?

OP here. Thanks everyone for the great discussion- I've learned a lot. This has been good insight into when to change along with some really good discussion about what an IPS is intended to do. Some of the good points being that it is a servant and not a master and the need for it to adapt over time...
by IowaFarmBoy
Wed Jul 04, 2018 3:51 pm
Forum: Investing - Help with Personal Investments
Topic: When is ok to change your IPS?
Replies: 21
Views: 1226

When is ok to change your IPS?

I've been considering making some changes to my IPS (investment policy statement). Currently it is pretty simple, just allocation percentages along with a rebalancing plan. That has been enough for me so far but I don't have anything telling me when it is ok to change it. I've made small changes ove...
by IowaFarmBoy
Mon Jul 02, 2018 5:08 am
Forum: Personal Finance (Not Investing)
Topic: how often does high ACT score == scholarship?
Replies: 102
Views: 9739

Re: how often does high ACT score == scholarship?

Another data point for the original question. Our daughters scored 34 and 35, had high high school gpa's and were STEM focused. We are residents of Illinois and I think the University of Illinois offered one of them $500. We picked slightly lower rated public universities (one in-state public univer...
by IowaFarmBoy
Thu Jun 28, 2018 4:33 pm
Forum: Personal Consumer Issues
Topic: Used Hearing Aids
Replies: 8
Views: 594

Re: Used Hearing Aids

Most hearing aids are programmed to compensate for your specific hearing loss so you will need a way to get that done. You can find info about what that takes online in forums like hearing tracker that onthecusp mentioned.
by IowaFarmBoy
Wed Jun 27, 2018 4:51 am
Forum: Investing - Help with Personal Investments
Topic: Am I getting the run around?
Replies: 24
Views: 4163

Re: Am I getting the run around?

A 401k account usually comes with controls and tracking required by the IRS. It sounds like you want to set up a regular brokerage account with Schwab and have the company deposit money into it- basically like a taxable account that they deposit into. It seems like this would bypass the 401k "wrappe...
by IowaFarmBoy
Fri Jun 22, 2018 7:27 am
Forum: Personal Consumer Issues
Topic: Did you celebrate when you finally hit $1m?
Replies: 161
Views: 14671

Re: Did you celebrate when you finally hit $1m?

I don't recall doing much, probably told my spouse and maybe we went out to dinner at one of our usual places. One problem is that a million bucks isn't what it used to be. At a 4% withdrawal rate, it only generates $40k/year in income. It was a nice feeling and I do like the sound of being a millio...
by IowaFarmBoy
Thu Jun 21, 2018 6:02 pm
Forum: Personal Consumer Issues
Topic: Buy new truck before retiring?
Replies: 53
Views: 2887

Re: Buy new truck before retiring?

I think the op said the $9500 included his payoff of$6800 so the actual difference in cost is $2700. He didn't mention the odometer readings on each.
by IowaFarmBoy
Sun May 27, 2018 6:36 am
Forum: Personal Finance (Not Investing)
Topic: Genworth LTC (Again)
Replies: 19
Views: 1822

Re: Genworth LTC (Again)

WeI've got a Genworth policy, too, and have the same frustrations. We've gone from about $1800/yr to $2600/yr in one increase over the 12 years we have had the policy. I really like your description of self-insuring- it's really not insuring, it's just saying you're willing to pay for your care out ...
by IowaFarmBoy
Sat May 26, 2018 4:43 am
Forum: Investing - Theory, News & General
Topic: The "4% withdrawal rate"- would it apply to someone "retiring" in their 70s?
Replies: 54
Views: 4559

Re: The "4% withdrawl rate" - would it apply to someone "retiring" in their 70s?

The 4% rate was developed with the goal of having a safe inflation adjusted income for 30 years and was based on a mixed portfolio with the expected returns at that time. If any of these factors are different, the safe rate could change. For example, many believe returns will be lower than what was ...
by IowaFarmBoy
Wed May 23, 2018 6:08 pm
Forum: Personal Consumer Issues
Topic: Should I spend $1,500 on getting some rust repaired on a 15 year old Buick
Replies: 36
Views: 2671

Re: Should I spend $1,500 on getting some rust repaired on a 15 year old Buick

I think it all comes down to how you will use the car and how important it is to you to have it not look rusted out. Financially the car probably isn't worth spending the money on but as someone pointed out, you will have a car for $1500 that should run a long time. If it was my primary driver and i...
by IowaFarmBoy
Mon May 21, 2018 6:17 am
Forum: Personal Consumer Issues
Topic: Detached Garage
Replies: 18
Views: 2321

Re: Detached Garage

Thanks for all the informative responses. It seems like the general consensus is that whichever option I go with to be sure that it’s dug below the frost line. Thanks again. The other basic thing is to follow the local codes and recommendations from your architect. They will be adapted to your cond...
by IowaFarmBoy
Sat May 19, 2018 7:18 pm
Forum: Personal Consumer Issues
Topic: Detached Garage
Replies: 18
Views: 2321

Re: Detached Garage

Either way, below frost line. +1 The monolithic slab is a good option but you do want it to go below the frost line. I used to build houses in Texas and pretty much everything was monolithic slab and they generally worked well. But you do need beams that are big enough and have enough rebar for rei...
by IowaFarmBoy
Thu May 17, 2018 4:53 am
Forum: Investing - Help with Personal Investments
Topic: Friend says "Stock market will crash, invest in silver" - thoughts?
Replies: 127
Views: 8453

Re: Friend says "Stock market will crash, invest in silver" - thoughts?

I'm reminded of the old joke- "He has successfully predicted 10 of the last 5 market crashes..."
by IowaFarmBoy
Wed May 16, 2018 8:56 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35652

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

If you currently file using married brackets, at some point the survivor of you or your spouse will be filing using single brackets and your rate may be higher.
by IowaFarmBoy
Sun May 13, 2018 6:21 am
Forum: Investing - Theory, News & General
Topic: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing
Replies: 35
Views: 2152

Re: Guidelines on ratio of Pre-tax, Roth, Post-tax Investing

As several have said, it is hard to know because we are trying to predict future incomes, tax rates, etc. We currently have income that, depending on itemization bunching, pre-tax 401k, etc., can put us into the 22% bracket or not depending on how aggressive we are. (I'm going to use current tax rat...
by IowaFarmBoy
Fri May 04, 2018 6:00 am
Forum: Investing - Help with Personal Investments
Topic: Bank loan
Replies: 6
Views: 550

Re: Bank loan

The bank is calculating what is called "add-on" interest. It is an alternate method for calculating interest that is better for them, worse for you. But it is a real "thing."

https://www.investopedia.com/terms/a/ad ... terest.asp
by IowaFarmBoy
Thu Apr 26, 2018 4:39 am
Forum: Personal Consumer Issues
Topic: Anyone had luck getting condo to install solar panels?
Replies: 6
Views: 708

Re: Anyone had luck getting condo to install solar panels?

One of the issues you will need to resolve is what to do with the electricity. My original thought was that this a cool idea in that you could get some economies of scale in terms of inverters and electrical hookups but then I realized that everyone probably has their own meter so you wouldn't gain ...
by IowaFarmBoy
Sat Apr 21, 2018 10:59 am
Forum: Personal Finance (Not Investing)
Topic: State and fed tax credits - buying a Bolt electric vehicle before it’s needed
Replies: 20
Views: 1846

Re: State and fed tax credits - buying a Bolt electric vehicle before it’s needed

Buying it four years early seems like a long time. I would expect EV technology to change a lot during that time. It wouldn't surprise me to see electric vehicles drop in price as the technology becomes more mainstream, thus offsetting some of your savings. Plus you would have the carrying costs lik...
by IowaFarmBoy
Sat Apr 21, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Renting out home with Swimming pool
Replies: 10
Views: 2292

Re: Renting out home with Swimming pool

+1 on the legal and insurance review One issue that comes to my mind is that you may be really good at dealing with the attractive nuisance issues when you are living there- keeping unauthorized people out, keeping gates locked, etc. A tenant may or may not be. Their negligence could leave you liabl...
by IowaFarmBoy
Sun Apr 15, 2018 8:40 pm
Forum: Personal Consumer Issues
Topic: Is it necessary to replace brake fluid on a car every 3 years?
Replies: 56
Views: 4426

Re: Is it necessary to replace brake fluid on a car every 3 years?

I try to do it every 3-4 years. Our older Volvos have it in the maintenance schedule for every 3 years or 30k miles if my memory is good. Our new Toyota is something like that also. In addition to safety concerns, I do it for protection of the system. Modern anti-lock systems have some expensive com...
by IowaFarmBoy
Wed Apr 11, 2018 5:20 am
Forum: Personal Consumer Issues
Topic: Should I prewire my home network myself?
Replies: 40
Views: 2524

Re: Should I prewire my home network myself?

If I were doing this, I would probably run ENT (electrical non-metallic tubing) to each location with the other end at a common spot, like in the basement or a utility closet. You can then pull whatever kind of cable you want through the tubing and replace it later if something new becomes the best ...
by IowaFarmBoy
Fri Apr 06, 2018 5:37 am
Forum: Personal Consumer Issues
Topic: What is the rationale for coinsurance?
Replies: 10
Views: 1203

Re: What is the rationale for coinsurance?

I think the key is that one of your premises is wrong- as several others have pointed out, it is not the "same risk". On the surface, it may look like the same risk since the insurance company is only on the hook for the policy limit (of say $50k). But the likelihood of paying that $50k will vary. I...
by IowaFarmBoy
Sat Mar 24, 2018 5:57 am
Forum: Personal Consumer Issues
Topic: What would you do with this car?
Replies: 37
Views: 2987

Re: What would you do with this car?

denovo wrote:
Sat Mar 24, 2018 4:38 am
How much did you sell it for?
And how did you sell it? Hope it was on craigslist! :?
by IowaFarmBoy
Tue Mar 20, 2018 6:23 am
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 246
Views: 32340

Re: Those with high savings rate: why?

Not sure what the future holds and there are significant risks out there at a time when we are vulnerable (no longer able to earn). Risks like inflation, medical costs, vulnerability of markets, pensions and social security. Most probably won't happen and we will end up being way over saved but we w...
by IowaFarmBoy
Tue Mar 20, 2018 5:15 am
Forum: Personal Consumer Issues
Topic: Amazon Prime Going Sideways/Weird Shipment Problems
Replies: 66
Views: 5837

Re: Amazon Prime Going Sideways/Weird Shipment Problems

I ordered two items on Sunday and selected two day shipping for Tuesday arrival on both. One shipped Sunday night and is on track to be here on Tuesday. The other didn't ship that night and during the day on Monday was projecting a Wed delivery. By the time it actually shipped, the delivery date had...
by IowaFarmBoy
Fri Mar 16, 2018 5:38 pm
Forum: Personal Finance (Not Investing)
Topic: [Minimizing costs of a medical procedure (Colonoscopy)]
Replies: 87
Views: 7503

Re: [Minimizing costs of a medical procedure (Colonoscopy)]

I've had seven colonoscopies if I am counting correctly. I had my first at 37 due to family history. In that one, they found three polyps, none of which were cancerous. Since then- I'm almost 60 now, they found one anal polyp on my next last procedure. I went without sedation for the first 6. Genera...
by IowaFarmBoy
Thu Mar 15, 2018 6:20 am
Forum: Personal Finance (Not Investing)
Topic: Is anyone using a bill paying service?
Replies: 16
Views: 1685

Re: Is anyone using a bill paying service?

I have most bills (student loans, phone bill, electricity, credit card) set up to automatically charge my credit card each month or take the money from my checking account each month for vendors like the student loan company that don't take credit cards. My credit cards are on autopay. There isn't ...
by IowaFarmBoy
Wed Mar 14, 2018 5:27 am
Forum: Personal Finance (Not Investing)
Topic: Selling business (website) considerations
Replies: 27
Views: 2427

Re: Selling business (website) considerations

If the expenses have been written off over the years, either as operating expenses or depreciation, I don't think they will count toward your basis for the purpose of capital gains.
by IowaFarmBoy
Wed Mar 14, 2018 5:04 am
Forum: Personal Finance (Not Investing)
Topic: Insurance Comparison Quotes?
Replies: 6
Views: 738

Re: Insurance Comparison Quotes?

I would definitely send the two autos and the home as a bundle and maybe include the business liability. Many companies offer significant multi-line and multi-car discounts so you would want to see what they can do. The business liability is probably not so likely to be discounted. I don't see any d...
by IowaFarmBoy
Wed Mar 14, 2018 4:56 am
Forum: Investing - Help with Personal Investments
Topic: "Renting" my house to a friend for 2 years while away for work - Questions on Tax Implications
Replies: 14
Views: 1521

Re: "Renting" my house to a friend for 2 years while away for work - Questions on Tax Implications

In regard to the depreciation, do realize that if you later sell the house for a gain over the depreciated basis, the depreciation has to be recaptured. I believe this recapture is taxed at ordinary rates, not the capital gain rates so you are trading a deduction now for higher income at some point ...
by IowaFarmBoy
Sun Mar 11, 2018 6:16 pm
Forum: Personal Finance (Not Investing)
Topic: Genworth Long Term Care
Replies: 23
Views: 3230

Re: Genworth Long Term Care

Well, we finally got our long expected premium increase notice from Genworth. I thought I would share to help build the group knowledge. As I mentioned in a previous post, when we purchased I really worked to make this insurance against catastrophic costs- I went with the longest elimination I could...
by IowaFarmBoy
Sun Feb 18, 2018 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: Home Insurance Claim by Previous Owners
Replies: 8
Views: 1175

Re: Home Insurance Claim by Previous Owners

IMHO, I think this is going to be an uphill battle and may raise additional issues. If I were the seller, I would not look favorably on the new buyer coming back after buying the house looking for additional repairs, even at the expense of the insurance company. Unless the college was really small a...
by IowaFarmBoy
Sat Feb 17, 2018 6:39 am
Forum: Personal Consumer Issues
Topic: Best plants to grow to save money for food costs
Replies: 93
Views: 5668

Re: Best plants to grow to save money for food costs

Maybe bell peppers. They usually aren't cheap and are easy to grow. At least here in the midwest.
by IowaFarmBoy
Thu Feb 08, 2018 10:01 am
Forum: Personal Consumer Issues
Topic: What time do you go to work?
Replies: 72
Views: 5819

Re: What time do you go to work?

I think there could be a large geographic component to the answer. I'm in the Midwest and I think 7:30 is most common at my megacorp although there is flexibility. Generally, I think almost everyone in town starts by 8. Our kids in NYC don't start till 9 or later but they stay later. Eastern time zo...
by IowaFarmBoy
Tue Jan 30, 2018 6:33 am
Forum: Personal Finance (Not Investing)
Topic: Tax help - DAF contribution
Replies: 31
Views: 2445

Re: Tax help - DAF contribution

As long as they were long-term (held for a year), they should be deductible. That answer from Vanguard sounds wrong. Did you talk to a general rep or a rep from the DAF area? As far as TurboTax, I've noticed that it (along with other tax software) will occasionally ask for information that is not ac...
by IowaFarmBoy
Fri Jan 26, 2018 5:43 am
Forum: Investing - Theory, News & General
Topic: 401k millionaires
Replies: 158
Views: 25404

Re: 401k millionaires

One thing worth mentioning (IMHO) is that this article refers to people with a million or more in one single Fidelity 401k. I think most Bogleheads have money spread over several accounts- one or more 401ks, IRAs , taxable accounts, etc. So there are probably a lot more millionaires than a study lik...
by IowaFarmBoy
Fri Jan 19, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Have you or anyone you know actually used umbrella coverage?
Replies: 34
Views: 3720

Re: Have you or anyone you know actually used umbrella coverage?

I started a thread giving an example of this a year or so ago. This a situation that actually happened in rural Illinois in our community. Not me personally or anyone I know but this really happened. Here are a couple of excerpts from my original post. The link has all the details. Here's the story-...
by IowaFarmBoy
Sun Jan 14, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Uber experience as worker?
Replies: 16
Views: 1832

Re: Uber experience as worker?

Lyft and Uber cover you for both collision and liability. This is somewhat true. Take a very careful look at what Uber does and does not cover. It varies based on whether you only have the app on, are on your way to pick up a passenger or are carrying a passenger. For example, while the app is on b...
by IowaFarmBoy
Sun Jan 14, 2018 7:25 am
Forum: Personal Consumer Issues
Topic: wireless dead again - router suggestions?
Replies: 35
Views: 2113

Re: wireless dead again - router suggestions?

+1 to the suggestions about the power adapter. I ran Netgear routers for years and did have to replace one power adapter. I keep a box of my old power adapters and have one that is a multifunction adapter.

I did just convert to a Google Wifi mesh system. It is very nice.
by IowaFarmBoy
Thu Jan 11, 2018 6:31 am
Forum: Personal Consumer Issues
Topic: Trying to downsize but still too much stuff
Replies: 59
Views: 6223

Re: Trying to downsize but still too much stuff

Maybe scan the personal papers and store electronically?

I agree that 18 boxes is admirable.
by IowaFarmBoy
Wed Jan 10, 2018 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Did I need a lawyer after an accident?
Replies: 29
Views: 2852

Re: Did I need a lawyer after an accident?

Any idea what kind of liability limits the other driver was carrying? If a habitual DUI, it was probably state minimum which can be as low as 15-25K so the insurance company may be waiting to be sure all the bills come in before releasing the money. I don't know how they would prioritize the bills b...
by IowaFarmBoy
Wed Jan 10, 2018 6:01 am
Forum: Personal Consumer Issues
Topic: Help choosing a hatchback- civic, golf, prius and Volvo V60
Replies: 40
Views: 2595

Re: Help choosing a hatchback- civic, golf, prius and Volvo V60

Maybe take a look at the Prius v (the wagon version). More space than the regular Prius and still over 40 mpg. It's close to the size of a RAV 4. We've got one and have really liked it.