Search found 483 matches

by jimmyrules712
Thu Dec 12, 2019 10:23 am
Forum: Personal Finance (Not Investing)
Topic: What is the best 2% cash back credit card w/ no annual fee, now that Citi has stripped the Double Cash of key benefits?
Replies: 83
Views: 9261

Re: What is the best 2% cash back credit card w/ no annual fee, now that Citi has stripped the Double Cash of key benefi

The Fidelity 2% card does not have the travel or shopping protection benefits that were stripped from the Citi Double Cash so it's really not any better than the Double cash post-benefits change. People should stop suggesting that as it doesn't give OP what they're asking for. The BOA cards some peo...
by jimmyrules712
Mon Nov 18, 2019 1:01 pm
Forum: Personal Consumer Issues
Topic: AWD Camry
Replies: 52
Views: 6471

Re: AWD Camry

I have found 2 types of situations where AWD is nice to have. The first is situations where you sometimes get deep snow and roads don't get cleared right away and the second is situations where the vehicle has lots of acceleration power and AWD reduces how easily the tires spin when accelerating har...
by jimmyrules712
Sun Aug 11, 2019 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a car, does it make sense to use 401k loan instead of an auto loan?
Replies: 37
Views: 2998

Re: Buying a car, does it make sense to use 401k loan instead of an auto loan?

It seems to me that you would want to hold the 401(k) loan idea in reserve for future home purchase instead of holding your cash in reserve for that. What are the reasons why it would be better to use a 401k loan for a house? I'm not disagreeing, I genuinely don't know. Is there an option 4: Consid...
by jimmyrules712
Sun Aug 11, 2019 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Buying a car, does it make sense to use 401k loan instead of an auto loan?
Replies: 37
Views: 2998

Buying a car, does it make sense to use 401k loan instead of an auto loan?

One of my cars is on it's last leg so I will be buying a new vehicle soon and am contemplating using a 401k loan instead of an auto loan. The amount I need to finance is about $25k. I have enough cash to buy it outright but I will also probably be buying a new house in the next year so I don't want ...
by jimmyrules712
Sat Jul 27, 2019 8:52 am
Forum: Personal Finance (Not Investing)
Topic: How much to save?
Replies: 53
Views: 5184

Re: How much to save?

Depends. Do you want to retire in your mid to late 60's or earlier? 10%-15% is fine for mid to late 60's. If you want to retire in your 50's shoot for at least 30%.
by jimmyrules712
Mon Jun 17, 2019 12:46 pm
Forum: Personal Consumer Issues
Topic: Winning $0.99 bid items on eBay
Replies: 10
Views: 2443

Re: Winning $0.99 bid items on eBay

I am happy when I have won the item and when it arrives. However, most ebay sellers today are scammers. I always initiate and receive a fund when the item never arrives by its due date. I regularly buy and sell things on ebay, I've probably bought several hundred items over the last 2 years and sol...
by jimmyrules712
Wed Apr 03, 2019 3:25 pm
Forum: Personal Investments
Topic: Switching solo 401(k)
Replies: 2
Views: 179

Re: Switching solo 401(k)

I don't have experience doing this myself but couldn't you roll the Roth 401k funds into a Roth IRA and separately roll the traditional 401k funds into your new solo 401k?
by jimmyrules712
Thu Mar 07, 2019 1:26 pm
Forum: Personal Consumer Issues
Topic: Best Car Values
Replies: 155
Views: 12093

Re: Best Car Values

It's hard for me to agree to the statement that the best value is a gently used Toyota/Honda. Every time I've ever needed to replace a car I've looked for a good used Toyota/Honda like so many people recommend and found tha anything under 50k miles sells for pretty much the same price as a brand new...
by jimmyrules712
Fri Feb 22, 2019 2:01 pm
Forum: Personal Investments
Topic: Where to put house savings?
Replies: 6
Views: 682

Where to put house savings?

My wife and I have accumulated about $50k in savings that we intend to put towards a new house in 1 to 2 years. Right now it's in our brokerage at Vanguard invested in their prime money market fund which I think is paying about 2.46% right now. I'm assuming given how soon we need the money that ther...
by jimmyrules712
Fri Feb 15, 2019 12:38 pm
Forum: Personal Consumer Issues
Topic: 3 year old tires installed (Sam's club). Should I do anything about this?
Replies: 104
Views: 9314

Re: 3 year old tires installed (Sam's club). Should I do anything about this?

Ive never heard of this "six" year rule for tires. Who makes this stuff up? Right? :oops: There is absolutely no need to change tires in any specific time frame. Condition is the only factor. As rubber ages it becomes brittle/less flexible and more prone to slide instead of stick to the road. Age a...
by jimmyrules712
Tue Aug 21, 2018 3:15 pm
Forum: Personal Consumer Issues
Topic: Sellers beware on eBay.
Replies: 92
Views: 9293

Re: Sellers beware on eBay.

I sell a lot of stuff on ebay. It's been worth it for me but my rule of thumb is I don't sell anything that is worth less than it costs to ship, for the very reason of not wanting to run into situations where I lose more than the item was worth from return shipping charges.
by jimmyrules712
Fri Aug 17, 2018 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: My Wife is going to do an independent contracting job-401k?
Replies: 10
Views: 860

Re: My Wife is going to do an independent contracting job-401k?

Vanguard has one but most people agree Fidelity's is better. There's a good comparison detailed here: https://thecollegeinvestor.com/18174/comparing-the-most-popular-solo-401k-options/ My wife is a contractor with a solo 401k at Fidelity that I set up and help her manager. There's 2 limits, one for ...
by jimmyrules712
Fri Jul 13, 2018 10:30 am
Forum: Investing - Theory, News & General
Topic: Saving 20% of paycheck isn't enough
Replies: 112
Views: 15371

Re: Saving 20% of paycheck isn't enough

The "save 10%-20%" guideline is for standard retirement at 65-67. It was never meant to get you an early retirement. Obviously it would not be sufficient for that but for most people it should work fine for a normal retirement at 65-67.
by jimmyrules712
Fri Jun 29, 2018 5:07 pm
Forum: Personal Investments
Topic: Should I pay medical expenses out of pocket and save my HSA money?
Replies: 12
Views: 1854

Should I pay medical expenses out of pocket and save my HSA money?

I’ve been maxing out my employer sponsored HSA for years but have not built up any kind of balance because my family incurs enough medical expenses on a regular basis to drain it. I’m already maxing out my 401k and Roth IRAs and am wondering if I should allocate my extra money towards paying medical...
by jimmyrules712
Tue Jun 12, 2018 11:51 am
Forum: Personal Consumer Issues
Topic: For Sale By Owner (FSBO) purchase - how much discount can I expect?
Replies: 22
Views: 2012

Re: For Sale By Owner (FSBO) purchase - how much discount can I expect?

I'd say it depends on if the buyer has a realtor representing them who is still taking their 3% commission. If yes then I would not expect any discount. If they don't have a realtor involved either then I'd expect the buyer to save the 3% that would be going to their realtor. The 3% that would be go...
by jimmyrules712
Thu Jun 07, 2018 11:51 am
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9378

Re: What commuter car provides the best long term financial value?

Keep in mind everybody that I'm doing the commute right now with a Chevy Sonic. Pretty much every vehicle being discussed here, including the Prius, would be an upgrade as far as space is concerned. Maybe I'm more flexible than the average person but I'm comfortable enough in a small car. With the m...
by jimmyrules712
Wed Jun 06, 2018 2:15 pm
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9378

Re: What commuter car provides the best long term financial value?

You will want to consider mpg for the type of driving YOU do along with the cost of the car and reliability predictions. I say this because driving in California where freeway driving means stop and go or HOV use strongly favors cars that can go into the HOV lanes or that do well in stop and go. Wh...
by jimmyrules712
Wed Jun 06, 2018 12:26 pm
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9378

Re: What commuter car provides the best long term financial value?

Your Sonic will be the best value. Your commuting costs are locked in. Miles locked in. Gas locked in. Spending money on a Toyota Prius (my recommendation) will never save you enough to compare to driving the car you already own. While you car shop, take an equal/opposite approach to figuring out h...
by jimmyrules712
Wed Jun 06, 2018 12:19 pm
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 9378

What commuter car provides the best long term financial value?

I commute about 500 miles a week, or about 24,000 per year and am looking for a car that will get me to work and back for the cheapest total cost over it's lifetime (including gas, repairs, depreciation, purchase price, etc). The only thing I'd hesitate on is something much smaller than the Chevy So...
by jimmyrules712
Wed Jun 06, 2018 12:07 pm
Forum: Personal Consumer Issues
Topic: When should you consider removing the collision coverage on a car?
Replies: 70
Views: 7796

Re: When should you consider removing the collision coverage on a car?

I drop it when I felt like I could stomach having the car totaled and not getting anything from another party to compensate me for it. That number has varied as my financial security has changed but it's $5,000 at the low end and $10,000 at the high end.
by jimmyrules712
Mon Jun 04, 2018 9:26 am
Forum: Personal Consumer Issues
Topic: Fitting three young kids in the car...
Replies: 76
Views: 6411

Re: Fitting three young kids in the car...

I only have 1 child right now so don't have this problem but once we get a second child I intend to try to get a minivan. My wife wants a 3 row SUV because she sees it as more of a status symbol but once we test them both out I think I'll get her to change her mind.
by jimmyrules712
Tue May 22, 2018 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Self Employed Income, Dependent Care FSA, and Solo 401k
Replies: 0
Views: 517

Self Employed Income, Dependent Care FSA, and Solo 401k

My wife has made about $1,600 in self employed income (after subtracting expenses) this year and will most likely not work any the rest of the year (just had a baby). No other income for the year. I originally expected her to work a lot more so last year at benefits enrollment I signed up for a depe...
by jimmyrules712
Fri May 04, 2018 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: [Car accident claim exceeds coverage, send to collection agency?]
Replies: 67
Views: 6958

Re: [Car accident claim exceeds coverage, send to collection agency?]

CA coverage minimum is only $5,000? Is that for personal injury as well? That's about enough to cover a band-aid at a hospital. I thought Oklahoma was low with a $50,000 minimum.
by jimmyrules712
Fri May 04, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: W4 Withholding Allowances
Replies: 4
Views: 915

W4 Withholding Allowances

If I know exactly how much needs to be withheld from each paycheck is there anything wrong with claiming a high number of allowances on my W4 so as to reduce withholding to zero and then specifying a specific additional amount to be withheld? I actually did this last year and at tax time I got a $5 ...
by jimmyrules712
Mon Apr 09, 2018 9:07 am
Forum: Personal Consumer Issues
Topic: Does it make sense to buy new appliances when there's a good sale before you need them?
Replies: 28
Views: 2548

Does it make sense to buy new appliances when there's a good sale before you need them?

7 years ago I bought my first house and bought one of the cheapest refrigerators I could find (Kenmore brand). I think I paid around $600 or $700 for it. When it was 11 months old the main circuit board died and fortunately the 12 month warranty from Sears paid for the repair. Since then it's worked...
by jimmyrules712
Thu Apr 05, 2018 2:31 pm
Forum: Personal Investments
Topic: After-Tax (and mega back door roth) or Taxable after maxing Roth & 401k?
Replies: 2
Views: 425

After-Tax (and mega back door roth) or Taxable after maxing Roth & 401k?

Looks like for the first time we're on track to max out my 401k and max our Roth IRAs for both my wife and I this year (she's a SAHM for the time being so no 401k for her). I'm starting to think about where to put money next. I'm lucky enough to have my 401k at vanguard with incredibly low fee fund ...
by jimmyrules712
Thu Apr 05, 2018 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Adoption in progress, should I file taxes with ATIN or wait for SSN?
Replies: 2
Views: 326

Re: Adoption in progress, should I file taxes with ATIN or wait for SSN?

I would file an extension if you think it will be finalized by October. I like simple. I wonder if you could plan to apply rebate to next year's tax and take less withholding this year?? I like the rebate idea, I hadn't considered that. Except the only problem is I received my annual bonus last mon...
by jimmyrules712
Thu Apr 05, 2018 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Adoption in progress, should I file taxes with ATIN or wait for SSN?
Replies: 2
Views: 326

Adoption in progress, should I file taxes with ATIN or wait for SSN?

I am in the process of adopting a child. The child was placed in my custody/care last year so I can claim the child as a dependent on my 2017 taxes however the adoption hasn’t been finalized yet so I don’t have the child’s SSN yet. I can either request an ATIN (Adoption Taxpayer Identification Numbe...
by jimmyrules712
Wed Mar 28, 2018 9:38 am
Forum: Personal Investments
Topic: Any reason not to roll Roth 401k funds from old employers over to Roth IRA?
Replies: 18
Views: 1378

Re: Any reason not to roll Roth 401k funds from old employers over to Roth IRA?

I can't think of any reason not to. If they were traditional (before tax) funds then rolling them over would complicate the backdoor roth but if it's all roth funds then there's no reason not to.
by jimmyrules712
Wed Mar 21, 2018 9:19 am
Forum: Personal Consumer Issues
Topic: Outdoor Blower
Replies: 24
Views: 1931

Re: Outdoor Blower

I have a number of Kobalt 80v tools that work extremely well. String Trimmer (plus brush blade for heavy brush), Chainsaw and Blower. They all are very well built and perform beyond my expectations. https://www.lowes.com/pd/Kobalt-80-volt-Max-Lithium-Ion-500-CFM-125-MPH-Heavy-duty-Brushless-Cordles...
by jimmyrules712
Tue Mar 20, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Sold house, trying to decide what to do with equity
Replies: 11
Views: 1234

Re: Sold house, trying to decide what to do with equity

Option 1 and immediate recast, but I would still find a way to max your Roths. With the wife currently staying at home with our baby and not working and us living on just my income, maxing my 401k plus 2 years of 2 Roths would require saving about 40% of our total income for the year and that is pr...
by jimmyrules712
Tue Mar 20, 2018 10:26 am
Forum: Personal Finance (Not Investing)
Topic: Sold house, trying to decide what to do with equity
Replies: 11
Views: 1234

Sold house, trying to decide what to do with equity

I recently moved and bought my new house before selling my old so only paid 20% down. Then I sold my old house and am trying to decide what to do with the extra equity (about $30k). Option 1: Use to reduce the balance owed on my new home mortgage. Option 2: Use max out 2017 & 2018 Roths for my wife ...
by jimmyrules712
Mon Mar 05, 2018 11:53 am
Forum: Personal Investments
Topic: My marginal tax rate has dropped from 30% to 22%. Time to switch to Roth?
Replies: 8
Views: 1430

My marginal tax rate has dropped from 30% to 22%. Time to switch to Roth?

Last year I lived in state that collects 5% income tax and was in the 25% federal bracket. This year I live in a no income tax state and due to the tax cuts my personal bracket is now temporarily at 22% until at least 2026 depending on if the tax cuts expire or not. The odds are about 50/50 as to wh...
by jimmyrules712
Tue Feb 20, 2018 5:28 pm
Forum: Personal Finance (Not Investing)
Topic: Auti/Home Insurance with different Companies and Umbrella
Replies: 10
Views: 1196

Auti/Home Insurance with different Companies and Umbrella

Long story short, I currently have insurance on my house, 2 cars, and a motorcycle with one insurance company where I currently live. I'm about to move to a different state and have gotten quotes on everything. Company A is $1,000 per year cheaper on their home insurance but about $600 per year more...
by jimmyrules712
Wed Jan 31, 2018 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: What banks would you recommend for closing a mortgage on a purchase fast
Replies: 8
Views: 1038

What banks would you recommend for closing a mortgage on a purchase fast

Long story short, my job is moving me to a different state. They'll give me a lump sum of monies to cover relocation costs and temporary housing costs until I can purchase a home. The sooner I can buy and close and move in the more of that money I get to keep. So I need to decide who to apply for mo...
by jimmyrules712
Wed Jan 10, 2018 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Should I use a CPA for my taxes this year?
Replies: 9
Views: 1055

Should I use a CPA for my taxes this year?

Would appreciate advice on my situation. I've done the taxes for my wife and I through Turbotax every year in the past until now. I think I have a strong handle on it. I work a standard W2 job. My wife is a 1099 contractor so we do have some complexity with tracking and deducting her Schedule C expe...
by jimmyrules712
Thu Dec 21, 2017 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Please Post Tax Bill Questions Here [was Tax Bill Omnibus Thread]
Replies: 886
Views: 73013

Re: Tax Bill Omnibus Thread

Anyone know if they retained or got rid of the deduction for employer adoption assistance? I know at one point it was planned to be removed but I don't know where it landed. I have an adoption being finalized next year and this would impact me. Overall looks like with the lower brackets and higher c...
by jimmyrules712
Mon Dec 18, 2017 10:17 am
Forum: Personal Investments
Topic: Rollover IRA and prev emp 401k to current 401k?
Replies: 10
Views: 938

Re: Rollover IRA and prev emp 401k to current 401k?

The only reason not to do it is if the fund options at your new 401k are bad. If you like the funds and the fees are low then go for it.
by jimmyrules712
Mon Dec 18, 2017 10:11 am
Forum: Investing - Theory, News & General
Topic: Paul Merriman and Small Cap Value
Replies: 140
Views: 19951

Re: Paul Merriman and Small Cap Value

I was playing around with PV, testing TSM vs. SCV. (Numbers include 2017, up through November.) Since 1995, SCV has outperformed TSM by an average of 1.53% per year. There was never a stretch where TSM outperformed SCV for more than 2 consecutive calendar years. SCV beat TSM in 15 out of the 23 yea...
by jimmyrules712
Mon Dec 18, 2017 9:54 am
Forum: Personal Consumer Issues
Topic: Transfer between two Ally accounts owned by different folks
Replies: 5
Views: 2647

Re: Transfer between two Ally accounts owned by different folks

One thing I miss about capital one 360 is the ability to transfer money between two account owners. Is this not possible via Ally? There is Zelle but I believe there's a limit. I'm assuming we're not talking about transferring between people like spouses, which you can do internally unlimited if yo...
by jimmyrules712
Fri Dec 15, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you contribute to your 401k in 2017?
Replies: 155
Views: 14572

Re: How much did you contribute to your 401k in 2017?

I only did the minimum to get the full match this year so about $5,300 however next year I'm really hoping to start maxing it out for the first time. Age early 30's. Wife is a SAHM at the moment so no contributions for her (couldn't afford it anyway).
by jimmyrules712
Fri Dec 15, 2017 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: How much did you contribute to your 401k in 2017?
Replies: 155
Views: 14572

Re: How much did you contribute to your 401k in 2017?

36 - would have been $18,000+ match but just found out a few minutes ago that they took 401k contributions out of our bonus and my last check of the year will take into account my annual review raise (two things which they did not do last year), so I am going to have to do some quick math to not ov...
by jimmyrules712
Wed Nov 15, 2017 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Fair way to split expenses?
Replies: 105
Views: 7370

Re: Fair way to split expenses?

All, In order to prevent future fights and difficulties with money, my wife and I have decided to have separate bank accounts and funnel money to a joint account that auto pays our bills. I would like to ask advice from those who have done anything remotely similar as to the best way to determine h...
by jimmyrules712
Tue Nov 07, 2017 9:24 am
Forum: Personal Investments
Topic: Assessing my retirement savings rate
Replies: 9
Views: 1618

Re: Assessing my retirement savings rate

I'm trying to asses what my minimum savings rate needs to be to retire. Desired retire date: 25 years from this year (This puts me at retiring in my mid fifties. I could go later if needed obviously.) Retirement income needed: $60,000 a year after tax ($5,000 a month) to be comfortable. $4,000 a mo...
by jimmyrules712
Mon Nov 06, 2017 1:52 pm
Forum: Personal Investments
Topic: Assessing my retirement savings rate
Replies: 9
Views: 1618

Re: Assessing my retirement savings rate

You might want to re-calculate your SS payout based on when the trust fund is expected to run out (about 2034) and the expected payout based on just contributions continuing (about 75%). I'm more in the 2-3 years from retirement and already have these expectations figured in. I can't imagine expect...
by jimmyrules712
Mon Nov 06, 2017 1:36 pm
Forum: Personal Investments
Topic: Assessing my retirement savings rate
Replies: 9
Views: 1618

Assessing my retirement savings rate

I'm trying to asses what my minimum savings rate needs to be to retire. Desired retire date: 25 years from this year (This puts me at retiring in my mid fifties. I could go later if needed obviously.) Retirement income needed: $60,000 a year after tax ($5,000 a month) to be comfortable. $4,000 a mon...
by jimmyrules712
Thu Nov 02, 2017 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: A tax planning question about the proposed GOP tax plan
Replies: 7
Views: 1362

Re: A tax planning question about the proposed GOP tax plan

David Jay wrote:
Thu Nov 02, 2017 5:23 pm
No can do - no commenting on proposed legislation on the BH forum.
I can't ask how the proposed legislation would affect me, even if the impact requires that I take action right now?
by jimmyrules712
Thu Nov 02, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: A tax planning question about the proposed GOP tax plan
Replies: 7
Views: 1362

A tax planning question about the proposed GOP tax plan

In the proposed GOP tax overhaul they are eliminating the adoption tax credit. My wife and I are planning to adopt soon and were counting on that credit to help pay for the expense (expected cost at $25k, credit is worth $13k). If these changes do get voted into law this year would they go into effe...
by jimmyrules712
Fri Oct 27, 2017 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Annual enrollment time, trying to decide on Dependent Care FSA
Replies: 9
Views: 654

Re: Annual enrollment time, trying to decide on Dependent Care FSA

How much is childcare in your area? With infants at almost $2k a month near me, you could use most of it in Jan/Feb, and if you move its pretty easy to use the remaining for evening babysitters. If we stay and use daycare we would be using a part time (2 or 3 days a week for 6 hours each day) optio...
by jimmyrules712
Fri Oct 27, 2017 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: Annual enrollment time, trying to decide on Dependent Care FSA
Replies: 9
Views: 654

Annual enrollment time, trying to decide on Dependent Care FSA

My wife and I have a 3 month old baby. There's a 50/50 possibility my job will be moved to a different state early next year and I won't know for sure until January or later. If we move then my wife won't be able to work for the first year and would stay home and we would not use daycare. If we do n...