Search found 626 matches

by JoeJohnson
Sat Mar 16, 2024 11:51 am
Forum: Personal Consumer Issues
Topic: Anyone purchased a RAV4 hybrid recently?
Replies: 30
Views: 3676

Re: Anyone purchased a RAV4 hybrid recently?

With cars on the lot, I would think you'd be able to get $500-$1500 off MSRP depending on how motivated the respective dealer is and how many options the vehicle has. A few Rav4 Hybrid have finally been hitting the lots around us.

End of month / end of Q1 should motivate if vehicles are on the lot. Good luck!
by JoeJohnson
Wed Mar 13, 2024 5:54 pm
Forum: Personal Consumer Issues
Topic: 2022 Ford Maverick Megathread...;-)
Replies: 179
Views: 25078

Re: 2022 Ford Maverick Megathread...;-)

We are pretty sure that we want to purchase a 2024 Ford Maverick Lariat Hybrid. We have found one on a dealer lot that was a delivery that was not accepted by the buyer (per the dealer, the buyer ended up ordering a different vehicle). We have an out-the-door offer at MSRP, which is stated at $38,230 (plus tax/title/etc). With the full appreciation that some people think the "fancy" Maverick is not worth it, my question is whether we should try to negotiate the price below this. There is not a single hybrid Maverick on a lot near us aside from this one, so my inclination is just to go for it at this price. Any thoughts would be appreciated. You have to be willing to walk away and it doesn't sound like you are Right. I mean, there...
by JoeJohnson
Tue Mar 12, 2024 9:36 am
Forum: Personal Consumer Issues
Topic: Drop Homeowner Ins- Self Insure
Replies: 63
Views: 4443

Re: Drop Homeowner Ins- Self Insure

Mr. Potter wrote: Mon Mar 11, 2024 6:57 pm Just a quick update on my insurance shopping.
American Family was raising homeowners ins from 3,000 to 4,500 per year
State Farm is quoting me 3,000 per year
So looks like if I switch my rates will remain the same as 2023, I’m good with that.
Thanks for updating. Did you get quotes from any company other than SF? How do they compare to the $3k?
by JoeJohnson
Tue Mar 12, 2024 8:44 am
Forum: Personal Consumer Issues
Topic: Mouse nest in engine compartment after recent service
Replies: 27
Views: 2122

Re: Mouse nest in engine compartment after recent service

Where on/in the vehicle was the infestation? Was it visible? Don't assume it was clearly visible during oil change. For example, the mice could have been living in the vents.
by JoeJohnson
Mon Mar 11, 2024 8:01 pm
Forum: Personal Finance (Not Investing)
Topic: Annual expense to live upper middle class lifestyle in suburban Midwest
Replies: 20
Views: 2378

Re: Annual expense to live upper middle class lifestyle in suburban Midwest

I think your estimate is too light for $500k house with current interest rates and assuming 20% down

$500k house with 20% down is around $2,500/month = $30k
Property tax 1.5%-2.0% per year = $7.5k- $10k (verify their specific case)
Home insurance estimate $2.5k per year

$40k+ annually for mortgage and escrow
$5k utilities
$3k-5k annual maintenance/renovation

Cars
$5k annual depreciation ($2.5k per year, per car for depreciation)
$2.5k fuel
$1.5k insurance
$1.5k oil change, annual registration, maintenance

House + Cars = around $60k

Can they get healthcare, groceries, home supplies, travel, entertainment, hobbies, etc for $24k per year?
by JoeJohnson
Thu Mar 07, 2024 10:54 am
Forum: Personal Consumer Issues
Topic: Need to buy a car: Outback or CRV?
Replies: 55
Views: 6405

Re: Need to buy a car: Outback or CRV?

In general, everything else equal, a hybrid will be more reliable than a non-hybrid. How so? https://www.consumerreports.org/media-room/press-releases/2022/11/consumer-reports-hybrids-make-great-sense-for-reliability-and-fuel-economy-minded-car-buyers/ Hybrid versions of cars from all manufacturers have been shown to be more reliable than non-hybrid versions of the same car. Little more detail here, but hybrids have been found to have 26% fewer issues than conventional. Largely due to less mechanical stress on the gas engine. https://www.caranddriver.com/features/a46867042/how-reliable-are-hybrid-cars/ This isn't an apples to apples comparison. They said hybrid vehicles as an entire group are more reliable than non-hybrid as an entire grou...
by JoeJohnson
Thu Mar 07, 2024 6:16 am
Forum: Personal Consumer Issues
Topic: When to switch from dealer to independent for service
Replies: 52
Views: 4113

Re: When to switch from dealer to independent for servic

I think it is smart to cultivate / spend time finding a good independent mechanic. I would estimate mine has saved me more than 25K - 30K if not more over the last 20 years. We have evolved to owning 3 used cars. 2016 Honda accord w/ 30K miles, 2011 Lexus RX with 76K miles, and a 2014 Sienna with 75K miles. When a car is in need of a repair (rare for Honda / Toyota imho) we drop it by Ben’s (he has a lift in his house garage) and in a few days he checks it out. Our biggest expense is brakes / rotors on occasion (no Ben mark up for parts) or tires which we shop independently by price checking with tire rack. I usually add $20-30 dollars to what Ben charges for a tip. He does minor body work too as well as keeps our riding lawn mower working...
by JoeJohnson
Tue Mar 05, 2024 3:10 pm
Forum: Personal Consumer Issues
Topic: Non-WiFi Dishwasher Needed Software Update
Replies: 33
Views: 2898

Re: Non-WiFi Dishwasher Needed Software Update

Appliances often have a port for connection. Could be USB, could be ethernet, could be bluetooth. None of this would require WiFi.

Think of it this way: a car from 2005 doesn't connect to WiFi, but it definitely connects to a device to read the check engine codes.
by JoeJohnson
Fri Mar 01, 2024 1:03 pm
Forum: Personal Consumer Issues
Topic: When do electric cars stop making sense?
Replies: 210
Views: 16100

Re: When do electric cars stop making sense?

Luke Duke wrote: Fri Mar 01, 2024 12:57 pm
fortunefavored wrote: Wed Feb 28, 2024 7:37 pmWith current PG&E rates up to .40 to .50/kwh
What is your off-peak rate? The majority of your at-home charging should be occurring during off-peak hours.
This has been asked and answered numerous times
by JoeJohnson
Thu Feb 29, 2024 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-DIV income taxed at 85%?
Replies: 11
Views: 2024

Re: 1099-DIV income taxed at 85%?

Tax owed is not the same as total tax burden.

How much was withheld from paychecks in 2022? 2023? Double check you remembered to enter the withholding from W2

How much was withheld on 1099 in 2022? 2023?
by JoeJohnson
Wed Feb 28, 2024 8:00 pm
Forum: Personal Consumer Issues
Topic: Lexus Hybrid (Sedan or SUV)
Replies: 52
Views: 5693

Re: Lexus Hybrid (Sedan or SUV)

vsk wrote: Tue Feb 27, 2024 8:08 pm Lexus is turbo 4 cylinder! not v6 and some reviews say the turbo is not that smooth. Have you considered V6 honda pilot or ridgeline? Their drive is supposed to be very refined and good. See lexus review https://www.youtube.com/watch?v=JdDepuoZzMo&t=1s
I thought OP wanted a hybrid?
by JoeJohnson
Wed Feb 28, 2024 7:46 pm
Forum: Personal Consumer Issues
Topic: When do electric cars stop making sense?
Replies: 210
Views: 16100

Re: When do electric cars stop making sense?

No, you're not missing anything with regards to fuel / electricity in your situation. Your electricity rates are 3 times higher than mine.
by JoeJohnson
Sun Feb 25, 2024 10:16 am
Forum: Personal Finance (Not Investing)
Topic: 0% 60 month Car loan in todays 5% Savings Environment
Replies: 43
Views: 4362

Re: 0% 60 month Car loan in todays 5% Savings Environment

Read the financing contract very carefully. Look for the words "deferred interest". 0% APR and 0% deferred interest loans are completely different. Deferred interest loans are not good. You miss one payment by 30 seconds, or your balance at the end is 1 cent, you'll end up owing the entire balance of interest over the entire term of the loan. Furniture retailers are notorious for this, although, I don't see it a whole lot in car sales. It never hurts to check. https://www.nerdwallet.com/article/credit-cards/deferred-interest-promos-huge-interest-charges My Spidey-sense was tingling at this whole deal, and you have showed me why it may have been right. OP should be careful. Main reason to do it is if it allows investment in tax de...
by JoeJohnson
Sat Feb 24, 2024 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: 0% 60 month Car loan in todays 5% Savings Environment
Replies: 43
Views: 4362

Re: 0% 60 month Car loan in todays 5% Savings Environment

Ok Sorry, well said. (What exactly is my question?) What is the ROI on using the 0% loan vs paying in full on day one. I think it is good, and Chat GPT thinks so also, but wondering how best to make that calculation. The numbers from the new AI stuff are just insane, and I don't believe them Money for 0% is from Ford corporate. As a Boglehead, price is based on nationwide search comparing price vs MSRP, and my need for the self driving options. I don't think anybody has answered the question. Benefit of 0% interest loan vs. paying cash is easy to calculate. Let's assume $35,000 loan, 5 years, 0% interest. Let's assume 3.75% interest for next 5 years for simplicity. It's a little trickier when we start assuming interest rates decline. A lot...
by JoeJohnson
Fri Feb 23, 2024 4:56 pm
Forum: Personal Consumer Issues
Topic: HVAC Replacement - Connecticut - Trane + thermo pride oil furnace
Replies: 46
Views: 3584

Re: HVAC Replacement - Connecticut - Trane + thermo pride oil furnace

talzara wrote: Fri Feb 23, 2024 3:47 pm
vsk wrote: Fri Feb 23, 2024 11:11 am What I am looking for today is to get a XR13 (basic single stage A/C) + Thermo Pride Oil furnace and move on.

I welcome boglehead members who have installed XR13 or/and Thermo Pride oil furnace in the last 1 year to comment on their experiences.
The XR13 can no longer be installed in Connecticut, where the minimum SEER is now 14.

You should install an XR15 heat pump because it costs less than the XR15 air conditioner. I don't know why you keep asking about air conditioners when there's a $2,000 tax credit for heat pumps. Just buy the same unit that you have already selected in the first post, but buy the heat pump version.
Isn't the new standard SEER2 > 13.4? The XR13 is 13.8 SEER2
by JoeJohnson
Wed Feb 21, 2024 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Be careful - could happen to anyone [fraudulent bank transactions]
Replies: 77
Views: 12244

Re: Be careful - could happen to anyone

beyou wrote: Wed Feb 21, 2024 6:15 pm I almost never leave much in a checking acct where such transaction could occur. I fund & pay as needed, just in time, precisely for this reason (and due to low rates in checking deposits). Less at risk.
Where do you keep the remainder of your cash and cash equivalents?
by JoeJohnson
Tue Feb 20, 2024 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: 20-30X income, is that the "retirement rut"?
Replies: 90
Views: 13512

Re: 20-30X income, is that the "retirement rut"?

I scanned all the prior replies but didn't see anyone saying "have you run the numbers if you stop working to see what SS benefit might be with such an early work stoppage"? Any pension? Spouses contribution to future pension or SS income, and her intentions re work? Of course, we were raised with the notion of the three stool approach to retirement planning: pension, Social Security and savings/investments. We did retire with only 1.9, at age 59.5/63. Both near equal salary contributions, equal deferred income balances, near equal pensions (the 59.5 retiree got her pension right away as she had her 30 years in (30% of salary with COLA), but I had to wait 1 1/2 years for my pension to start, only 26.2% of salary). And also no deb...
by JoeJohnson
Tue Feb 20, 2024 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: 20-30X income, is that the "retirement rut"?
Replies: 90
Views: 13512

Re: 20-30X income, is that the "retirement rut"?

Just want to point out that I have not seen that the OP has $2m in investible assets . The wording used was $2m net worth . That could mean anything, including $1m in retirement accounts and $1m in home equity. The OP certainly could not retire comfortably (or at least maintain current lifestyle) with $1m in investible assets @ age 45. Perhaps with liquidation of real estate, assuming much lower COL. Even moving to a different, lower paying job (likely) would not be an option, unless the OP has a lot of $ in taxable, or Roth. Pointing out that an investment portfolio occasionally goes up more in a month than the investor can save in a year is interesting but hardly useful. It can also fall by an amount the investor can save in three years,...
by JoeJohnson
Tue Feb 20, 2024 11:03 am
Forum: Personal Finance (Not Investing)
Topic: Windshield Chip - Insurance claim or Self Fund
Replies: 61
Views: 5555

Re: Windshield Chip - Insurance claim or Self Fund

I have a windshield chip that Safelite will repair for $191 & change. It is covered with no deductible through State Farm. My agent tells me that submitting the claim will not impact whether we would be dropped or not but can be considered going forward in conjunction with any other claims for possible rate increases. Is this something that we should just pay out of pocket or is it something that we should submit to our Insurance Co. ? Personally, I would NOT file an insurance claim for $191. That is not worth the mental gymnastics of worrying if it will hurt my insurability. The real question I would have: Is the $0 glass deductible required? Or can glass deductible be increased to match comprehensive deductible? Specific to your stat...
by JoeJohnson
Mon Feb 19, 2024 3:21 pm
Forum: Personal Consumer Issues
Topic: Should I get a Lexus ES for its V6?
Replies: 96
Views: 8508

Re: Should I get a Lexus ES for its V6?

This thread is getting way off-topic from OP and has seemingly run its course. OP wants a naturally aspirated V6. End of story.
by JoeJohnson
Mon Feb 19, 2024 10:31 am
Forum: Personal Consumer Issues
Topic: Should I get a Lexus ES for its V6?
Replies: 96
Views: 8508

Re: Should I get a Lexus ES for its V6?

If you haven't driven one of the modern turbo 4s, they are pretty smooth. Generally better gas mileage, and they have tons of acceleration. There's a reason automakers are doing away with old V6s. If you're used to old 4 cylinder engines, these are a lot different. The new turbo 4 in the lexus RX and Highlanders (probably more) get the same mileage as the best 6 cylinder engine probably ever made but Turbo has 50% less emissions. [Unnecessary comment removed by moderator oldcomputerguy] Four cylinder engines are great in light vehicles, like small sedans or hatchbacks. In something that weighs 1600+ kg, the torque from a six cylinder engine will make a real difference. I thought the 4 cylinder turbos make a lot more low end torque than the...
by JoeJohnson
Sun Feb 18, 2024 11:32 am
Forum: Personal Consumer Issues
Topic: Should I get a Lexus ES for its V6?
Replies: 96
Views: 8508

Re: Should I get a Lexus ES for its V6?

Sure but you should be aware that the Turbo 4 / Turbo 4 hybrid design by Toyota/Lexus is much different that what other companies use. The engine will be used in their flagship nameplate the Land Cruiser and has been torture tested for millions of simulated miles. Toyota knows the brand is based on unrivaled reliability and durability so they have designed that into this motor. Toyota has been making hybrid engines for about 27 years. I completely agree that they're reliable. There are plenty of extremely reliable turbocharged four cylinder engines (heck, the Ford EcoBoost started its life as a turbocharged Mazda truck engine in the mid 80s). The issue is that there are very few four cylinder engines that make enough low-RPM torque for a m...
by JoeJohnson
Sun Feb 18, 2024 9:58 am
Forum: Personal Consumer Issues
Topic: Should I be happy paying msrp for a subaru 2024?
Replies: 33
Views: 3455

Re: Should I be happy paying msrp for a subaru 2024?

I have a hard time believing this price is real, but it's the best deal I was able to find in this trim Nationwide and happens to be in CA. Probably a bait and switch

https://www.hanleesnapasubaru.com/inven ... 7r3733716/
by JoeJohnson
Fri Feb 16, 2024 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: 14%+ Used Car Loan
Replies: 44
Views: 3469

Re: 14%+ Used Car Loan

Too late for OP and his son, but this is an example of why I opened joint card accounts (25 years ago) with my kids when they turned 18 so that they had established good credit when the time came that they needed it, and I still recommend doing so today. Joint card accounts are few and far between today, but Authorized User is reported to work the same way credit-wise. 14% is high, but I wouldn't classify as "rip-off" for someone with little or no credit record. And there is no better way of getting a decent credit score than to timely pay a car loan. Would the Bank-of-Dad want to step in and help making sure timely payments are made? Right. Add son to credit card with the longest history. I have an authorized user (wife) on my A...
by JoeJohnson
Tue Feb 13, 2024 8:10 pm
Forum: Personal Finance (Not Investing)
Topic: Question on seatgeek/stubhub sales on H&R Block computer software
Replies: 9
Views: 797

Re: Question on seatgeek/stubhub sales on H&R Block computer software

Lou Sevens wrote: Tue Feb 13, 2024 7:44 pm Hello, I sold $2,000 on stubhub, and they are telling me I won't get a 1099-K because I was below $20,000- however I think they are wrong

Could someone please advise? Should I just enter these somehow manually on my taxes -

I wrote to some executive emails as well.

I don't think the represenative is that famailir.

Stubhub is correct. They are not required to send 1099-K for 2023 unless over $20,000 on more than 200 transactions.

https://www.irs.gov/newsroom/irs-announ ... ementation

Yes, you can enter these manually on your taxes
by JoeJohnson
Tue Feb 13, 2024 1:52 pm
Forum: Personal Consumer Issues
Topic: Best dumb thermostat?
Replies: 35
Views: 2968

Re: Best dumb thermostat?

diy60 wrote: Tue Feb 13, 2024 1:44 pm LUX, White Rodgers, and Honeywell are ones I have used successfully. On my current LUX I can program 4 change events per day, 7 days per week, individually for both cooling and heating. I run it off of the original 18V transformer, no wifi. A feature for my next thermostat will have a programable fan-only mode as well.
Similar experience with LUX. Model TX9600TS great for six years. 24 volt
by JoeJohnson
Thu Feb 08, 2024 1:41 pm
Forum: Personal Consumer Issues
Topic: 2024 Honda CRV Hybrid mileage
Replies: 73
Views: 15683

Re: 2024 Honda CRV Hybrid mileage

I bought a Honda CRV sport hybrid AWD in July here in northern MN. I was getting 38 MPG in my very hilly town. Out on the highway @ 65 MPH the car got 35 MPG. Hybrids typically get better in-town than they do on the highway. Now that it's getting colder, I get about 5 MPG less than I did in the summer. This is normal and a result of lots of factors including decreased battery capacity at low temperatures and (possibly) different gasoline formula for winter fuel. The CRV hybrid in particular uses the engine purely as a generator to charge the high voltage battery which, in turn, powers the electric motors. Above 64 MPH (I think) the second clutch engages which links the gas engine to the drivetrain directly. This is why the mileage drops of...
by JoeJohnson
Tue Feb 06, 2024 3:42 pm
Forum: Personal Consumer Issues
Topic: Buying a used car: what's your limit?
Replies: 65
Views: 6215

Re: Buying a used car: what's your limit?

Beensabu wrote: Tue Feb 06, 2024 11:48 am
JoeJohnson wrote: Tue Feb 06, 2024 10:58 am Question on the bolded: What leads you to believe there is going to be a flood of used car inventory?
What do you think will happen whenever more and more people can't make their $500/mo payment on their 10-year $30k car loan?
I'm not predicting a significant decline in people's ability to pay their $30k car loan. :sharebeer
by JoeJohnson
Tue Feb 06, 2024 10:58 am
Forum: Personal Consumer Issues
Topic: Buying a used car: what's your limit?
Replies: 65
Views: 6215

Re: Buying a used car: what's your limit?

Buying a recent vintage used Toyota has never made any sense to me over just buying new. Used makes sense when there is a steep depreciation curve. A brand new 2015 Toyota Corolla LE had an original MSRP back then of $18,565. Today those same cars are selling on the used market with well over 100,000 miles at around $13,000 or so. So the car has depreciated just 30% in almost 10 years. Even for a Toyota that is absurd. Add in the fact that back in 2015 nobody was paying MSRP for a car, I could VERY easily get a Corolla for Invoice which was $17,200. That reduces depreciation to just 24% over 10 years which makes it absurd x 10. Even if you assume a Corolla has a useful life for the engine at 200K miles, after 10 years the interior and mate...
by JoeJohnson
Mon Feb 05, 2024 10:40 am
Forum: Personal Finance (Not Investing)
Topic: DW Laid Off, I'm Panicking
Replies: 166
Views: 20738

Re: DW Laid Off, I'm Panicking

Annual Budget is starting to make sense when considering the following:

Kids club sports/classes: $17,000
Vacation: $16,000
Elderly parents: $7,000

$40,000 total

Also noted the total spend didn't include any vehicle expenses other than fuel/insurance. That could easily be another $2k-$5k per year of depreciation, repairs, etc. over life of vehicles. That's per vehicle, I didn't want to assume they have 2 (or more)
by JoeJohnson
Sun Feb 04, 2024 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Roth conversion or stopping retirement contribution after 1 spouse retires
Replies: 9
Views: 572

Re: Roth conversion or stopping retirement contribution after 1 spouse retires

mjhfx1 wrote: Sun Feb 04, 2024 10:47 am
SnowBog wrote: Sun Feb 04, 2024 10:38 am

One potentially complicating factor, that no calculator (I'm aware of) currently helps address is the conflict with ACA subsidies. To minimize lifelong taxes, as I noted, you'd spread out the taxes to have a minimal amount each year. But doing so might push you over the "ACA Cliff", where you lose any subsidies on healthcare. This might force you to pick "higher taxes" or "higher Healthcare", or alternate and do more "lumpy" conversions.
ACA is not a concern because both will be covered under my employer's insurance.
Employer insurance until Medicare? Or only while employed?
by JoeJohnson
Sat Feb 03, 2024 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Preparer bailed, which tax software to use?
Replies: 76
Views: 6499

Re: Tax Preparer bailed, which tax software to use?

cacophony wrote: Sat Feb 03, 2024 4:18 pm I would expect security to be better too.
What leads you to this expectation?
by JoeJohnson
Sat Feb 03, 2024 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: DW Laid Off, I'm Panicking
Replies: 166
Views: 20738

Re: DW Laid Off, I'm Panicking

2 suggestions if you're serious:

1) Seek out therapy for your financial about anxiety
2) Post your budget and be prepared for a lot of constructive criticism. I'm having a hard time relating to the budget unless there's a private education or two?
by JoeJohnson
Sat Feb 03, 2024 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone using SOFI for their banking?
Replies: 15
Views: 2503

Re: Anyone using SOFI for their banking?

BuckeyeAaron wrote: Sat Feb 03, 2024 9:40 am I hope this response follows forum rules (as I don't want to hijack the thread but I also felt a new thread really wasn't warranted), but have any of these forum users that utilize SoFi had issues getting their 1099-INT for 2023? I realize its only Feb. 3, but 1099s were advertised to be available by 1/31. I chatted with their customer service on 1/31 and they confirmed that I should received a 1099 and to "keep checking back." Nothing yet. Is this a known issue with SoFi or should I learn to exercise a bit more patience?
Received PDF online January 24th.
by JoeJohnson
Sat Feb 03, 2024 8:10 am
Forum: Personal Finance (Not Investing)
Topic: HSA Spending--EOBs Suffcient for IRS??
Replies: 19
Views: 2027

Re: HSA Spending--EOBs Suffcient for IRS??

I think that would work. I posted this a couple of days ago in another post. From the IRS Recordkeeping. You must keep records sufficient to show that: The distributions were exclusively to pay or reimburse qualified medical expenses, The qualified medical expenses hadn’t been previously paid or reimbursed from another source, and The medical expenses hadn’t been taken as an itemized deduction in any year. . . . The above has always been my - perhaps unfounded - concern. How do we prove the negative? How do we prove the qualified medical expense has NOT been previously paid OR reimbursed from another source? The best answer is an itemized statement from your medical provider showing your payment. Next best, credit card statement. Not helpf...
by JoeJohnson
Thu Feb 01, 2024 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Anyone wished they had worked a few more years before retiring?
Replies: 89
Views: 14580

Re: Anyone wished they had worked a few more years before retiring?

a.s.r wrote: Wed Jan 31, 2024 4:12 pm If you use the 4% rule as a back of the envelope estimate of how much you could withdraw from your portfolio, each 10k pension bump is the equivalent of 400k in savings. So, your effective salary after age 55 is ~600k.

It would be hard for me personally to turn that down, at least for a year or two, if it could really bump up my retirement lifestyle/ability to give to kids or charities/other options. But bravo to you if you do!
OP is going to be swimming in millions between the $74k COLA pension, SS, and $4 million of investments. They could retire today on the $4 million of investments and never look back.
by JoeJohnson
Thu Feb 01, 2024 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Anyone wished they had worked a few more years before retiring?
Replies: 89
Views: 14580

Re: Anyone wished they had worked a few more years before retiring?

So my situation is a nice one. I can retire at 55 and claim a $74K a year COLA adjusted pension and about $40K SS at 67. Or I can work $x$ more years and the pension jumps up $10K per extra year worked (upto age 60 i.e. $x$=5). In addition I would pocket about $200K for each year. Per my handle, I am not expensive so I expect to spend $100K a year in expenses. I have $2M in tax deferred accounts and another $2M in taxable accounts with no debt (home paid off and kids college taken care of) so I can retire at 55 comfortably. But I'm in one of those jobs, once you retire, you can't come back. The actual work itself is not stressful and I like it but there are other things I like as well. I'm curious what people would do in my situation and w...
by JoeJohnson
Wed Jan 31, 2024 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: Stuck in One More Year Syndrome
Replies: 20
Views: 3585

Re: Stuck in One More Year Syndrome

OP, From what I read correctly, you have a NW of $5.6M (4.9M investments + 700k home equity). With $150k expense + even a 25k / yr health insurance that’s more than 32 years of expenses saved. This is provided both you and your spouse retired today. Since your spouse is planning to work for now, you should have an easy 40+ year withdrawal. Also, I guess you aren’t planning to fully retire and intend to do something meaningful and light which mostly should generate some supplemental income. Go for it and enjoy. Keep your credentials and license active. If you get bored, there always an option to find work. The $700k of home equity isn't particularly relevant. The home equity does not help pay the bills. It could be accessed in a major emerg...
by JoeJohnson
Sun Jan 28, 2024 8:38 am
Forum: Personal Consumer Issues
Topic: Refrigerator water filter
Replies: 49
Views: 5296

Re: Refrigerator water filter

We use Home Depot brand (HDX) instead of LG. The price is still high ($30 per), but it's cheaper than LG. We specifically went with HDX vs Amazon options due to the certifications. I likely read about NSF certifications on this forum.

We change every 6 months per the recommendation. I've got bigger problems to worry about than $60 per year on water filters.
Certified against NSF/ANSI 42, 53, 372, 401 & CSA B483.1 to reduce Lead, Cyst, VOC's, Pharmaceuticals (such as Naproxen, Ibuprofen and Phenytoin), BPA, PFOA & PFOS as well as Chlorine taste and odor to ensure high quality and performance.
by JoeJohnson
Fri Jan 26, 2024 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Adding Wife to Car Ins
Replies: 5
Views: 892

Re: Adding Wife to Car Ins

Do you live with your wife? My insurer requires any household members, regardless of marital status, must be listed on the same auto insurance.
by JoeJohnson
Fri Jan 26, 2024 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Made deductible IRA contribution when I needed non-deductible
Replies: 13
Views: 688

Re: Made deductible IRA contribution when I needed non-deductible

The broker will report the IRA contribution on Form 5498. You distinguish deductible vs. non-deductible on your taxes. Form 8606
Note that the only thing that makes your traditional IRA contribution non-deductible is what you report to the IRS. Vanguard doesn’t know what your 1040 looks like. Form 8606 becomes important at tax time, but there’s no checkbox at Vanguard to indicate that you won’t be deducting this contribution.
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by JoeJohnson
Thu Jan 25, 2024 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: Ameriprise Transfer Out (How long?)
Replies: 5
Views: 531

Re: Ameriprise Transfer Out (How long?)

We moved some IRA money from Ameriprise to Fidelity in 2023. Easy experience. I don't recall the exact timeline, but it didn't take long at all. Most transferred in-kind. If I recall correctly, some small amount ended up in cash. Once in Fidelity, we sold the Ameriprise fund and moved to FSKAX total market index.
by JoeJohnson
Mon Jan 22, 2024 8:44 am
Forum: Personal Consumer Issues
Topic: Feb. 7 Update -- Brand new Subaru needs new transmission
Replies: 173
Views: 16226

Re: Brand new Subaru needs new transmission

anoop wrote: Mon Jan 22, 2024 8:11 am
GettingComfortable wrote: Sun Jan 21, 2024 1:44 pm If looking to buy, and a car/SUV/... has a CVT, run, do not walk, the other way. New or used.

One possible exception: Buy one dirt-cheap with a dead transmission, but everything else is perfect. And only if you can convert it to a manual or automatic transmission via a donor car of the same model (get that whole, likely wrecked donor car as you'll need lots of other parts from it to make the swap work). Not a job for a novice.
Does this apply to Toyota/Lexus hybrids? :)
Nope, they are completely different than a belt CVT. The hybrid planetary gear setup is simple and extremely reliable.
by JoeJohnson
Thu Jan 18, 2024 9:22 am
Forum: Personal Finance (Not Investing)
Topic: Dealing with "one time" or "temporary" expenses when calculating X in 25X
Replies: 33
Views: 2825

Re: Dealing with "one time" or "temporary" expenses when calculating X in 25X

We have several one time expenses that seem to come constantly that make it hard to calculate our "true" yearly expenses. For example, in 2022 we paid 42k for a new car and in 2023 we paid 25k for changing carpet to hardwood floors. We have several other, somewhat smaller, one time or temporary expenses year after year. Should we just accept that this is never ending and going forward our true yearly expense is going to be probably some average of the last few years?? If they come constantly they aren’t one time. Estimating living expenses requires rigorous honesty. Financially speaking your examples are capital expenditures. Different than the grocery or gasoline bills. Capital expenditures are real, and necessary. Include them ...
by JoeJohnson
Thu Jan 18, 2024 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Dealing with "one time" or "temporary" expenses when calculating X in 25X
Replies: 33
Views: 2825

Re: Dealing with "one time" or "temporary" expenses when calculating X in 25X

Thank you all for the thoughtful responses! I just wanted to add a few clarifications in order to put a guard rail for this thread. Essentially I am trying to use our annual expense NOW to gauge our annual expenses IN RETIREMENT. This will help me calculate our FI number. As I stated above, I observe that every year, we have multiple "one time" or "temporary" expenses that don't seem to go away, though they change form from time to time. On one hand I could subtract those out and say our true expense is net of those and use that to calculate our FI number. But on the other hand, they seem to come year after year, though they change form so I should not ignore them. For example, say we spent 100k and about 25k was a one ...
by JoeJohnson
Wed Jan 17, 2024 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Dealing with Insurance Company on Totaled Vehicle
Replies: 31
Views: 3683

Re: Dealing with Insurance Company on Totaled Vehicle

[Unnecessary comment removed by moderator ClaycordJCA] and picking up the phone will help a lot. Patience. This incident occurred many months ago. Insurance companies aren't inherently slimy. Assume best intentions. As mentioned above, understand who is calling and who is upset about your vehicle sitting in storage.

If your car is totaled, know what it's worth. Full retail value on the used market. Not trade-in value.
by JoeJohnson
Mon Jan 15, 2024 7:09 am
Forum: Personal Consumer Issues
Topic: To new car or not ...
Replies: 23
Views: 2884

Re: To new car or not ...

Money_Badger wrote: Mon Jan 15, 2024 12:56 am It seems with the EV market cooling and with tax credits, there may be an opportunity here for buying ...
There's rarely an "opportunity" when buying a car; especially post-2021, and especially if it's a stretch on your budget. It's fine to acknowledge you want a toy, but the general info you provided sounds like you cannot afford comfortably. Need more details on incomes, retirement assets, retirement goals (in dollars, you already provided age).
by JoeJohnson
Sun Jan 14, 2024 8:46 am
Forum: Personal Finance (Not Investing)
Topic: understanding depreciation schedule that accountant made
Replies: 4
Views: 650

Re: understanding depreciation schedule that accountant made

Looks like an error. Were they with the same tax preparer since 2010? If not, I suspect something got missed entered during the switch. I wouldn’t worry about correcting. You’ll enter the date placed in service, cost, ending accumulated, method, convention, and prior accumulated bonus for any remaining asset if you start preparing for them in new software. There will probably be a 2nd depreciation schedule called Alternative Minimum Tax in their 2022 tax return and possibly a state depreciation schedule too. Some states don’t allow bonus depreciation so state depreciation can be different. I looked more into it, and it seems like the method 200DB has something to do with it and convention code HY. Meaning, appliances are supposed to be dep...
by JoeJohnson
Wed Jan 10, 2024 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: Refinance or wait?
Replies: 29
Views: 2615

Re: Refinance or wait?

Why is it so expensive to refinance? Get other quotes