Search found 5226 matches

by mhc
Thu Mar 28, 2024 11:17 am
Forum: Non-US Investing
Topic: Short investment window and retiring soon
Replies: 16
Views: 904

Re: Short investment window and retiring soon

Your short window probably is not really a short window. I assume you plan on living a few decades after retirement. You should choose your asset allocation (AA) based on your needs. Since you have not held equities previously, you do not really know how you will react with the next crash. You need an AA that meets your needs and also allows you to stay the course. You don't give enough info to provide more specific help. I would not recommend 100% equities. I would hold at least 25% in bonds. What if during a market crash I'm able to live completely without my portfolio? Like on my Pension plus a rental property. So I would be able to comfortably ride a bear market. Do you think there would still be need for bonds? You could play with htt...
by mhc
Thu Mar 28, 2024 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Calculator With SS Bridge.
Replies: 9
Views: 716

Re: Retirement Calculator With SS Bridge.

SS Bridge is just mental accounting. As you see, it is complicating things.

Two solutions:
1. run firecalc for two scenarios: A. on just SS bridge B. After bridge
2. just use firecalc without labeling something as SS bridge. You have a portfolio, expenses, income streams. Firecalc handles this. No need to call something a SS bridge.
by mhc
Thu Mar 28, 2024 9:38 am
Forum: Personal Investments
Topic: Significant additional Cash Reserves. If you have/had any how have/will you deploy it?
Replies: 12
Views: 630

Re: Significant additional Cash Reserves. If you have/had any how have/will you deploy it?

We only have enough cash to cover monthly expenses. We do not have an EF. I have found that it is better to stay fully invested according to our AA.
by mhc
Thu Mar 28, 2024 9:31 am
Forum: Personal Investments
Topic: Those complimentary dinners for retirees by investment advisors
Replies: 143
Views: 10537

Re: Those complimentary dinners for retirees by investment advisors

This may be a naive question, but how do they know you're retired and a likely mark potential customer? I've been retired for a few years and have never been invited (for which I shall be eternally grateful.) Did you retire early? My impression is that they mail by age of victim rather than employment status. Birthdate data is obviously easy to come by or estimate from other info. If you haven't been getting these yet, your prime years are still ahead of you! :beer Or could it be that people getting these invitations have, at one point or another, worked with a finacial firm, financial planner, or accountant who was OK with selling their lists of contact information (I am not saying any financial details, just name, address, birth year). T...
by mhc
Wed Mar 27, 2024 3:24 pm
Forum: Personal Investments
Topic: Looking for a new savings/investment vehicle.
Replies: 15
Views: 996

Re: Looking for a new Investment/Retirement Vehcile

Health Savings Account if you have a qualified high deductible medical plan.

Ibonds
by mhc
Wed Mar 27, 2024 10:05 am
Forum: Non-US Investing
Topic: Short investment window and retiring soon
Replies: 16
Views: 904

Re: Short investment window and retiring soon

Your short window probably is not really a short window. I assume you plan on living a few decades after retirement.

You should choose your asset allocation (AA) based on your needs. Since you have not held equities previously, you do not really know how you will react with the next crash. You need an AA that meets your needs and also allows you to stay the course.

You don't give enough info to provide more specific help. I would not recommend 100% equities. I would hold at least 25% in bonds.
by mhc
Wed Mar 27, 2024 9:43 am
Forum: Personal Consumer Issues
Topic: Favorite protein powder for shakes at home?
Replies: 76
Views: 3322

Re: Favorite protein powder for shakes at home?

Optimum Nutrition Gold Standard 100% Whey Protein Powder, Double Rich Chocolate

My whole family loves this. I put a scoop in my oatmeal every morning. I found this to be the easiest way to get my protein at breakfast.

Recently, we used subscribe & save on Amazon and purchased 2 10lb bags for $180. It was the first time my DW had used subscribe & save, so we received 40% off.
by mhc
Tue Mar 26, 2024 9:55 am
Forum: Investing - Theory, News & General
Topic: Asset allocation when retirement income needs are not flat
Replies: 9
Views: 994

Re: Asset allocation when retirement income needs are not flat

Our withdrawal rate in retirement will step down as the kids leave, medicare kicks in, SS starts, ....

I used https://earlyretirementnow.com/safe-wit ... te-series/ to set our AA. The main driving factor for our AA is the duration of our retirement. I planned for a 50 year retirement (1 year in), so we have a 75/25 AA. I plan on staying there. In 10, 20, 30, 40 years, I have no idea what it will be, but I don't have current plans on changing it. I could imagine going to something like 10 years of bonds and everything else equities once we are on SS. I could also imagine getting a SPIA so my DW has a constant income once I pass. It would make it easier for her.
by mhc
Tue Mar 26, 2024 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity as a one stop shop
Replies: 6053
Views: 1037428

Re: Should I move it all to Fidelity?

I am starting the process to move everything to Fidelity. My first step is to open the CMA and get the credit card and checkbook. I will keep a local brick and mortar bank because Fidelity does not have Zelle, and I like the idea of a backup bank. I will move slowly because I am in no hurry.

I believe Fidelity will meet the needs you listed.
by mhc
Mon Mar 25, 2024 9:53 am
Forum: Personal Investments
Topic: Those complimentary dinners for retirees by investment advisors
Replies: 143
Views: 10537

Re: Those complimentary dinners for retirees by investment advisors

I went to one a few months back. The presentation is definitely a sales pitch. They were well skilled at instilling fear and confusion to make people think they need an advisor. I find analyzing communication styles and sales techniques interesting. There were really good appetizers on the table when we arrived. Alcohol was provided if you wanted it. I had a Diet Coke and my DW drank water. The presentation then began and lasted about 45 minutes. The advisors then left and went home to their families. Dinner was served and was nice. It was getting late, so we asked for our desserts in to go boxes. We also took home what we didn't eat. They had us fill out a card to indicate if we wanted any follow up contact. We indicated we were not intere...
by mhc
Mon Mar 25, 2024 9:24 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4288
Views: 1082178

Re: Share your net worth progression

Stef wrote: Sun Mar 24, 2024 3:57 pm Anyone else feels like the last 5 months are not real? I was at 220k by end of October 2023 and thought "300k would be nice to reach within the next 1.5-2 years" and here I am at 296k today :shock:
Strong years are always nice. I retired last year, and I am up quite a bit even with living off the portfolio. Nice!

Just remember to stay the course when the down years come.
by mhc
Sat Mar 23, 2024 10:00 am
Forum: Personal Investments
Topic: Retirement Planning courses
Replies: 7
Views: 835

Re: Retirement Planning courses

You should wait for the invite that includes a steak dinner. That one will definitely be a sales pitch to take your money.
by mhc
Fri Mar 22, 2024 9:42 am
Forum: Personal Consumer Issues
Topic: What Toys Have You Bought That Have Been Worth it?
Replies: 260
Views: 18741

Re: What Toys Have You Bought That Have Been Worth it?

Smoker.

I smoke meat regularly for the family but also:
neighborhood block party
backyard parties
meals for others - births, deaths, sick, injured
work lunches

Concept2 Erg Rower
I row 3 times a week. I really enjoy it. It is nice to be able to work out without leaving the house.
by mhc
Fri Mar 22, 2024 9:15 am
Forum: Personal Finance (Not Investing)
Topic: 12 months before retirement what do you wish you had done
Replies: 72
Views: 8853

Re: 12 months from retirement what do you wish you had done

I have been retired for a little over a year. There are some things that change once one retires. Here are a few things I had to learn prior to retiring and shortly after.

1. Medical insurance - ACA vs Cobra vs retiree
2. Estimated tax payments - federal and state
3. Roth conversions

Obviously, one needs to have a plan on how to replace the paycheck. For me, that was pretty easy. I just sell from taxable account when we need to replenish the checking account.

The transition from working to not working is not very complicated. It has been an easy transition.
by mhc
Thu Mar 21, 2024 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Roth vs Traditional 401k - Tax Bracket + FICA taxes
Replies: 4
Views: 481

Re: Roth vs Traditional 401k - Tax Bracket + FICA taxes

When your MAGI exceeds $250k, NIIT (3.8%) and medicare (0.9%) kicks in. I think I would try to stay below the thresholds. NIIT is for investment income, and the other is for earned income. It looks like you should be able to keep your MAGI below $250k by contributing to a traditional 401k.
by mhc
Wed Mar 20, 2024 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4288
Views: 1082178

Re: Share your net worth progression

bugleheadd wrote: Wed Mar 20, 2024 2:33 pm How do I stop looking at my accounts..I hit 1m sometimes in Q4 of last year, now I'm around 1.2m. cant stop looking everyday as we hit new all time highs every few days
You are allowed to look. Is it leading to some bad behavior?

Looking is good in my opinion. I want to get use to how it moves.
by mhc
Wed Mar 20, 2024 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: How would you estimate Medicare costs for us?
Replies: 11
Views: 1074

Re: How would you estimate Medicare costs for us?

jebmke wrote: Wed Mar 20, 2024 3:25 pm I never made a separate estimate for Medicare. My “budget” for total medical cost was $1,000 per person per month. I’ve never looked at the actual cost over the years (15) but I’d guess the actual cost was below estimate. But other expenses must have eaten all that up because our total expenses have averaged pretty close to the original estimate.
This is also the number I use. I have several retired friends in the neighborhood who are on medicare and both use the UHC supplement (I don't remember the letter, F, G, or N). $1000/mo/person seems about right. I'm still 10 years away, so this is close enough for me. My DW is even further out.
by mhc
Wed Mar 20, 2024 3:22 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire in 5 years?
Replies: 23
Views: 2596

Re: Can I retire in 5 years?

Maverick,

thank you for your service.

Yes you can retire in 5 years. With the pensions and SS and your nest egg, you will have plenty. I believe your medical will also be covered for life, which is really nice.

You will be going through different phases of life as you retire, then your DW, then the kids are gone, then SS kicks in, .... The amount of money you will pull from your portfolio will change in each phase. You should estimate your expenses in each phase and then run it through cfiresim. It can handle this. When you estimate expenses, make sure that it includes everything (taxes, medical, college, new cars).
by mhc
Wed Mar 20, 2024 9:33 am
Forum: Personal Investments
Topic: Should (and How) I get out of TDFs in my taxable account
Replies: 17
Views: 1340

Re: Should (and How) I get out of TDFs in my taxable account

OP,

looks like $66k in gains. At 35% bracket you are either 15% or 20% on LTCG. You then have 3.8% NIIT and state tax. You would pay $15-25k in taxes depending on your specifics. I would not sell any with short term capital gains. You could calculate how long it would take to overcome the immediate tax hit.

It probably is a toss up on what to do. $15-25k is not going to change your life. Most of us have lost more than that by doing stupid things. I know I have.
by mhc
Tue Mar 19, 2024 3:13 pm
Forum: Personal Investments
Topic: Should (and How) I get out of TDFs in my taxable account
Replies: 17
Views: 1340

Re: Should (and How) I get out of TDFs in my taxable account

Welcome to the forum! More info is needed to help. 1. Names of funds, not just ticker symbols 2. Cost basis of each fund indicated long/short term capital gains 3. Your tax bracket 4. Will your income change drastically in the next few years? In general, when trying to undo an investment in a taxable account: 1. Turn off reinvestment of dividends and capital gains (don't buy more) 2. If you donate to charity, start donating the shares with the largest unrealized long term capital gains. Then you have to weigh the on going tax drag against a lump sum tax hit. In theory this could be done in Excel making some guesses. You could also wait for a market drop to see if you could get out with lower capital gains. This is kind of gambling though.
by mhc
Tue Mar 19, 2024 9:06 am
Forum: Personal Investments
Topic: Portfolio Advice Needed - Can I Retire?
Replies: 29
Views: 3248

Re: Portfolio Advice Needed - Can I Retire?

Appreciate the reply. Looks like you can retire if your $100k/yr includes all expenses (medical, taxes, ...). Ooops, good point on taxes! Medical was in there but not income taxes on withdrawals (can't believe I forgot that). Edited my OP to make it $115k withdraw. Cash/CDs in taxable account have a bad tax drag on them. I prefer little to no cash for a long retirement. I started a 50 year retirement plan last year and hold less than 0.5% in cash. If you must keep cash to sleep well at night, move it into your IRA. The taxable account should be stock mutual funds/ETFs. When you need cash, sell the mutual fund from taxable and exchange cash in IRA for what you just sold from taxable account. It has the same affect of having cash in taxable ...
by mhc
Mon Mar 18, 2024 2:59 pm
Forum: Personal Investments
Topic: Portfolio Advice Needed - Can I Retire?
Replies: 29
Views: 3248

Re: Portfolio Advice Needed - Can I Retire?

Looks like you can retire if your $100k/yr includes all expenses (medical, taxes, ...). Cash/CDs in taxable account have a bad tax drag on them. I prefer little to no cash for a long retirement. I started a 50 year retirement plan last year and hold less than 0.5% in cash. If you must keep cash to sleep well at night, move it into your IRA. The taxable account should be stock mutual funds/ETFs. When you need cash, sell the mutual fund from taxable and exchange cash in IRA for what you just sold from taxable account. It has the same affect of having cash in taxable account, but it is more tax efficient. You should do Roth conversions to the top of the 12% bracket and maybe higher. It really depends on if you are going for ACA premium tax cre...
by mhc
Tue Mar 12, 2024 3:09 pm
Forum: Personal Investments
Topic: VUSXX
Replies: 6
Views: 920

Re: VUSXX

VUSXX is great.

I noticed you said you are holding some of this money for charity. Donating mutual funds, ETFs, or stocks with long term capital gains from your taxable account is more tax efficient than donating cash. You get a double tax advantage that way. You can then use the cash to buy back what you sold or something else that is a better fit. I know this is off topic, but there is a lot here. A lot of people around here use Donor Advised Funds to help facilitate this.
by mhc
Tue Mar 12, 2024 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: Health Care Savings account contribution question
Replies: 11
Views: 811

Re: Health Care Savings account contribution question

You do want to make the $1000 post-tax contribution. You will then write off the $1000 against your income.

The only downside to a post-tax (non-payroll/cafeteria plan) contribution is you will not get the tax break on social security and medicare taxes. If you max the SS, then that part doesn't matter.

The $1000 will still go in income tax free, grow tax free, and come out tax free for qualified medical expenses.
by mhc
Tue Mar 12, 2024 11:18 am
Forum: Personal Finance (Not Investing)
Topic: One spouse retiring earlier than the other?
Replies: 38
Views: 3079

Re: One spouse retiring earlier than the other?

I had my spouse retire a few months before we got married. It has worked out great in 20+ years of marriage. When I retired last year, the only negative was that I disrupted her schedule by being home. I think it is because I use my rower while she works out. I don't think she likes me there even though I am focused on my rowing.

It is possible if she retires before you she could develop some routines that you disturb once you retire. You could solve that by retiring together right now. This way you could develop your retirement routines together.
by mhc
Tue Mar 12, 2024 9:55 am
Forum: Personal Investments
Topic: Fidelity Portfolio Manager Tools
Replies: 10
Views: 1274

Re: Fidelity Portfolio Manager Tools

The only thing I am aware of at Fidelity is Full View. It is an account aggregator. It shows my percentages for US equities, international equities, bonds, and cash. This is sufficient for me. It does have some more detailed reports. You could create a Fidelity account and play around with what they have to offer. AFAIK You don't have to fund anything to have access to what they offer. Recently, Fidelity dumbed down Full View. A lot of people complained, and Fidelity brought back the full featured version. I have no idea what the future of this tool is. I primarily rely on a spreadsheet I developed many years ago to let me know how to maintain my AA. Edit: Here is an article that discusses Full View and GPS. https://thefinancebuff.com/fidel...
by mhc
Mon Mar 11, 2024 1:58 pm
Forum: Personal Investments
Topic: Reducing risk and increasing diversification as we approach retirement
Replies: 7
Views: 694

Re: Reducing risk and increasing diversity as we approach retirement

Your plan seems quite reasonable.

There is no way to know if switching everything now will work out better than gliding into your desired AA. I will assume that you can make these changes in a tax advantage account.

I would probably direct all new money to TIPS and move enough from US to international and nominal bonds right now to bring those two up to your desired AA. I would then glide into your final AA about the time you retire.

If any of this would require selling in a taxable account, then you need to post more information.
by mhc
Mon Mar 11, 2024 10:06 am
Forum: Personal Consumer Issues
Topic: Estimated Tax payments confusion
Replies: 8
Views: 902

Re: Estimated Tax payments confusion

TT has always given us those estimated tax vouchers. We have never paid estimated taxes and have never had a penalty. I just ignore the vouchers. We even get the vouchers when we have a refund.
by mhc
Mon Mar 11, 2024 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Question about Turbo Tax
Replies: 8
Views: 730

Re: Question about Turbo Tax

I use the TT deluxe desktop version. It handles all the stock stuff I need it to. It is the version usually recommended on this site if one is going to use TT. The best time to get it is usually at the end of December on Amazon when it goes on sale for a day.
by mhc
Sun Mar 10, 2024 3:41 pm
Forum: Personal Investments
Topic: 401K vs Roth IRA
Replies: 17
Views: 1609

Re: 401K vs Roth IRA

yogesh wrote: Sun Mar 10, 2024 3:28 pm Did you account for tax-free earnings/growth on investments in Roth compared to taxed earnings in pre-tax?
Please explain further. Equations showing your thinking would help.

vyk, I think you have the main points.
by mhc
Sun Mar 10, 2024 10:18 am
Forum: Personal Investments
Topic: Asset allocation and location when approaching (early) retirement
Replies: 10
Views: 1288

Re: Asset allocation and location when approaching (early) retirement

There is a chart in the ERN series showing success rate vs AA vs withdrawal rate (WR) vs retirement years. I started a 50 year retirement plan last year. I chose 75/25 AA. It seems that having more equities for a long retirement is better. I was 80/20 for the last 12 years of accumulation. I moved to 75/25 right before retirement.

I am comfortable with 75/25. Our plan required 5+% WR for the first 10 years. The WR rate will drop as the kids are launched. It will then drop more when SS kicks in. We have enough flexibility in spending in case things go wrong, so I am not worried about it. I would rather eat beans and rice than work. There are so many ways to have a meaningful, joyful life that does not require money.
by mhc
Fri Mar 08, 2024 5:08 pm
Forum: Investing - Theory, News & General
Topic: "When" do you sell equities during Retirement?
Replies: 29
Views: 4527

Re: "When" do you sell equities during Retirement?

Welcome to the forum! I can only say what I do. I am less than 59.5, so we are living off our taxable account. I sell equity funds when we need money. I use my 401k to maintain our asset allocation (AA). This could look like selling stocks when high and selling bonds when high. In reality, I just maintain our AA. For example, if we have too much in equities according to our AA, then when I sell from taxable, which only has equities, then we will get closer to our desired AA. Next example, if we have too much in bonds, then when I sell equities from taxable. I will then exchange some bonds for equities in the 401k. This has the affect of selling bonds. Each example demonstrates that we sell whatever is doing well. We don't have to sell when ...
by mhc
Thu Mar 07, 2024 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: Mental health or Money: navigating the OMY question
Replies: 48
Views: 4972

Re: Mental health or Money: navigating the OMY question

Once I had enough I retired. I don't regret it at all. I left at the peak of my earning. I have been retired 1 year, and it has been one of the best years of my life. I'm so glad I left. Will the extra money improve your life?

I was not the type that could just disengage at work. My mind was always thinking of work even when I was home. If you can disengage and use all your time off, then maybe one more year won't be so bad. I couldn't do that.
by mhc
Wed Mar 06, 2024 3:44 pm
Forum: Personal Investments
Topic: Participate in deferred compensation plan?
Replies: 9
Views: 729

Re: Participate in deferred compensation plan?

Sounds like you understand it.

Seems like you would have to run the numbers to see which option is better.
by mhc
Wed Mar 06, 2024 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, estimated taxes, safe harbor question
Replies: 8
Views: 767

Re: Roth conversion, estimated taxes, safe harbor question

Morik wrote: Tue Mar 05, 2024 4:27 pm Just making sure--you aren't talking about some election I need to make when doing a distribution from my tIRA -> Taxable, where the only election I see available is the withholding % I want.
You are talking about the second step right? When I move the money from some taxable account into the Roth IRA?
When you move the money from taxable to Roth IRA.
by mhc
Tue Mar 05, 2024 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, estimated taxes, safe harbor question
Replies: 8
Views: 767

Re: Roth conversion, estimated taxes, safe harbor question

If you do the rollover method, make sure you specify it is a rollover.

Also, if you go over $250k MFJ, then NIIT kicks in.

Tax credits can be affected also. I do a dummy tax return with TT to dial in my Roth conversion.
by mhc
Tue Mar 05, 2024 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, estimated taxes, safe harbor question
Replies: 8
Views: 767

Re: Roth conversion, estimated taxes, safe harbor question

Morik wrote: Tue Mar 05, 2024 2:41 pm Ah I think i was thinking of it backwards--sounds like if I do a conversion I should make an estimated tax payment at that time (or withhold & roll over, I'll check that other thread).
Make sure you understand the estimated tax rules. There are two methods with different pros and cons.
by mhc
Tue Mar 05, 2024 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, estimated taxes, safe harbor question
Replies: 8
Views: 767

Re: Roth conversion, estimated taxes, safe harbor question

Your withholdings will probably drop with your reduced income. I don't see you hitting the safe harbor with tax withholdings from your paycheck. That usually works when your income increases not decreases.

Paying estimated taxes is one way to avoid any penalties. You can also do a withholding from the Roth conversion and then do a 60 day rollover into your Roth using money from a taxable account. Take a look at this thread:

viewtopic.php?t=425147
by mhc
Tue Mar 05, 2024 12:22 pm
Forum: Personal Investments
Topic: How close am I to FIRE?
Replies: 25
Views: 5188

Re: How close am I to FIRE?

You need to list your expenses essentially for the rest of your lives. The expenses must include taxes, medical insurance, one time purchases, .... The expenses must include everything. I know that is hard, but you have to make some educated guesses. Once you know that, you can plug it into a retirement calculator like Firecalc and see where you stand. What about Social Security or pensions? Is your investment property only breaking even? If so, why do you keep it? Let's say your expenses are $120k/yr for retirement for a 50 year retirement. I would think you would need at least $3.5-4 million. In reality, your expenses will not be flat across the different stages of life. That is why it is important to project expenses for the rest of your...
by mhc
Mon Mar 04, 2024 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Backdoor Roth Questions
Replies: 14
Views: 909

Re: Backdoor Roth Questions

GastroMD wrote: Mon Mar 04, 2024 10:39 am
akam wrote: Mon Mar 04, 2024 10:29 am You probably need to wait until tomorrow morning. If you submitted an order on Saturday, that means it will process tonight and be reflected in your account in the morning.
That's what I was thinking; just trying to minimize any gains of a few dollars on my $7k. I will wait till tmrw.
Don't worry about the gains of a few dollars. Those gains get moved into your Roth. That means that you are getting more money into your Roth. Isn't that a good thing? Transactions take time to settle. Tax software handles the gains with no problems. The tax you will pay on the gains is less than a cup of coffee.
by mhc
Mon Mar 04, 2024 3:21 pm
Forum: Investing - Theory, News & General
Topic: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
Replies: 32
Views: 3662

Re: Aggressive savers: Reduce stocks % the closer you are to your target numbers?

It depends on how long the retirement plan is. If you are planning for a very long retirement (40-50 years), then a higher equity allocation is better. If your retirement plan is short, then I think a lower equity allocation is better. I retired last year with a 50 year plan. I am at 75/25. A few years before that I was 80/20. I plan on staying at 75/25. I think other things come into play like pensions and SS because they affect how much you have to pull from your portfolio for essentials. How many years does your retirement plan cover? How much of your FI number is discretionary spending? The retirement tools that use historical data account for the worst case scenarios that have occurred. If you are fine with the results from those tools...
by mhc
Mon Mar 04, 2024 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: FireCalc.Com Question
Replies: 19
Views: 1830

Re: FireCalc.Com Question

I would say 95% success rate with Firecalc and significantly below average with the Fidelity tool.

The Fidelity tool does a tax estimate, so one does not include taxes with the Fidelity tool. I'm a little suspect about the accuracy of the tax estimation.

Firecalc wants you to include taxes in your expenses.
by mhc
Mon Mar 04, 2024 2:59 pm
Forum: Personal Consumer Issues
Topic: Trip from KC to Bozeman
Replies: 41
Views: 2928

Re: Trip from KC to Bozeman

In terms of navigating the park is Gardiner a good entrance point vs west entrance? Hotels are cheaper in Gardiner. I just want the best experience and the hotel price is not that big of deal. If price is not that big of a deal, then stay in the park. It is a large park. We have stayed in the park and in West Yellowstone. In the park saves a lot of time. Traffic moves very slowly in the park. The speed limits are pretty low, and people are going slowly to look for wildlife and to enjoy the scenery. If the bison get on or near the road, traffic will come to a dead stop. Don't be in a hurry when driving in the park. It won't help. I would stay near Old Faithful if possible because it is centrally located. There is food and gas in the park. Y...
by mhc
Mon Mar 04, 2024 9:58 am
Forum: Personal Finance (Not Investing)
Topic: Estimated Tax Payments with Zero Liability
Replies: 4
Views: 637

Re: Estimated Tax Payments with Zero Liability

You could fill up the rest of the 0% bracket with Tax Gain Harvesting or Roth Conversions.
by mhc
Sat Mar 02, 2024 2:36 pm
Forum: Personal Consumer Issues
Topic: Trip from KC to Bozeman
Replies: 41
Views: 2928

Re: Trip from KC to Bozeman

KC: 1 or 2 days WW1 museum Money museum Union Station Nelson-Atkins Art Museum Arabia Steamboat Museum Jackstacks and/or Joe's Kansas City Omaha: (not much there) zoo Lincoln: 1 day (off the path) capital free art museum at University of Nebraska Sioux Falls: 1 day, not really a tourist town. My DW is from there. We go there just about every year. Black Hills: 2-4 days, it is a big area with a lot to do if you want Yellowstone: 2-4 days, a lot of people spend much longer there. It is a big park. The Tetons are on the south side. I-90 from Billings to Bozeman is not much but you could hit the Battle of Little Bighorn on the way to Billings. Just east of Billings is Pompeys Pillar National Monument. I would head due west out of Rapid City and...
by mhc
Sat Mar 02, 2024 12:06 pm
Forum: Personal Consumer Issues
Topic: Trip from KC to Bozeman
Replies: 41
Views: 2928

Re: Trip from KC to Bozeman

I have driven most of that. Some of it many times. We are big at seeing everything. There won't be much on your route. There will be long stretches of nothing. The scenery will improve as you approach Rapid City. Mountains on this route should not be an issue.

KC to Sioux Falls:
Pony Express museum in St. Joseph

Sioux Falls:
Falls Park

Sioux Falls to Rapid City:
Corn Palace in Mitchell
Minute Man National Historic Site east of Wall (get tickets early)

Blackhills:
Mount Rushmore
Jewel Cave
Mammoth Site in Hot Springs

Rapid to Yellowstone:
Devils Tower

Yellowstone:
does not require hiking, lots of short walk if you like

Bozeman:
Museum of the Rockies
by mhc
Sat Mar 02, 2024 11:28 am
Forum: Personal Investments
Topic: OK to pay down large chunk of mortgage?
Replies: 35
Views: 2849

Re: OK to pay down large chunk of mortgage?

I wouldn't pay down the mortgage with that low interest rate. Invest the money. When you downshift, you can sell from your taxable account to supplement your income.
by mhc
Sat Mar 02, 2024 11:25 am
Forum: Personal Investments
Topic: Realize Taxable Gains or use HSA?
Replies: 2
Views: 389

Re: Realize Taxable Gains or use HSA?

I would use the taxable account. The tax hit is pretty small. I wouldn't want to give up the tax benefits of the HSA. Your taxable account is still large enough to serve as an emergency fund. If things really go crazy, you can take from the HSA later. If you take from the HSA now, you can never undo that.
by mhc
Sat Mar 02, 2024 9:50 am
Forum: Personal Consumer Issues
Topic: Products/Services with Automatic renewal
Replies: 22
Views: 1006

Re: Products/Services with Automatic renewal

I get a notification on my phone every time one of our credit cards are used. If you have auto-renewal/subscription, you will see when it renews. I find this easier than looking at statements. There are several other benefits to these notifications.
by mhc
Sat Mar 02, 2024 9:41 am
Forum: Personal Investments
Topic: Tax Efficient Asset Allocation - How Confused Am I?
Replies: 45
Views: 3550

Re: Tax Efficient Asset Allocation - How Confused Am I?

Welcome to the forum!

Looks like you have it correct. Good job.

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