Search found 6490 matches

by MathWizard
Sun Mar 17, 2024 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Reevaluating social security
Replies: 49
Views: 4147

Re: Reevaluating social security

The difference between claiming earlier than FRA for the lower earner is typically not large when I have run open social security.
It had my wife claiming 2 years before FRA.

My wife is waiting until FRA to allow a bit more room for Roth Conversions, and to avoid taxation of SS benefits in those 2 years.

I think the tool is a good one to see the effects of various claiming strategies, rather than just for only looking at the strategy it picks as optimal. This allows one to take personal plans into account, and seeing what the effect on SS benefits will be.
by MathWizard
Sun Mar 17, 2024 2:58 pm
Forum: Personal Consumer Issues
Topic: Mobile finance apps - do you use them?
Replies: 52
Views: 3985

Re: Mobile finance apps - do you use them?

No.

I only use a laptop
in my home
over encrypted wireless
through https (SSL encryption)
along with
2 factor verification, and
long passwords.

I am trusting this with my life savings. I am not going lessen security for a small amount of convenience.
by MathWizard
Fri Mar 15, 2024 9:18 pm
Forum: Investing - Theory, News & General
Topic: Should I Keep Sacrificing or Start Enjoying Myself
Replies: 32
Views: 3552

Re: Should I Keep Sacrificing or Start Enjoying Myself

A lot depends on the reason for the $300K debt followed by quick payoff, and ability to live in 20% of (presumably net) income.

Are you a physician?

That is the one case that I can see for getting to $300K in debt,
then being able to clear it quickly.

If that is the case, you might want to look into the White Coat Investor website, as physicians have a unique situation.

If not, then I would be concerned with behavioral issues with going back to a free spending lifestyle.
by MathWizard
Thu Mar 14, 2024 5:53 pm
Forum: Personal Consumer Issues
Topic: Cloud based backup options for sensitive files
Replies: 92
Views: 7385

Re: Cloud based backup options for sensitive files

Are there any viable cloud based storage options that would be safe for backups of sensitive documents? I wonder if the amount of data these options hold in total make them high value targets. In other words, why do you rob banks, because that's where the money is. I also wonder if using one would void insurance provided by brokers. Looking forward to the discussion. Box is supposed to be encrypted. I'd make sure the transfer is encrypted as well. Of course, you could encrypt the files on your system before sending them to the cloud. Amazon's GovCloud has options for different FISMA levels. I assume HIPPA as well. I always transferred any sensitive data with encryption, and did not keep it in the cloud, but on systems under my control. The...
by MathWizard
Tue Mar 12, 2024 4:47 pm
Forum: Personal Consumer Issues
Topic: iPad Buying Question for Younger Kids
Replies: 25
Views: 1918

Re: iPad Buying Question for Younger Kids

The only issue would be if the schools are using them.
My nephew is a middle school principal, and apparently
ipads for school assignments are a thing.

If that is the case, I would check with the school for compatibility,
though in my nephew's school, the school was handing them out for consistency.

Other than the above case, a generation behind should work fine
by MathWizard
Tue Mar 12, 2024 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: One spouse retiring earlier than the other?
Replies: 38
Views: 2989

Re: One spouse retiring earlier than the other?

My wife retired just as Covid came to the US, as there was no WFH option available.

I used WFH for 15 months, then returned to office, retiring last year.

My wife was wanting me to retire, as it was quite boring for her, without a job to go to. I was earning the most ever, allowing me to save over 50% which was needed for a good retirement.

I would retire at the same time if possible.
by MathWizard
Mon Mar 11, 2024 1:24 pm
Forum: Personal Finance (Not Investing)
Topic: No contingency offer on land in 12 hours - how do they do it?
Replies: 22
Views: 2567

Re: No contingency offer on land in 12 hours - how do they do it?

I have been outbid on several houses with bids over asking,
some with no contingencies, on the day it went on the market.

My son paid 5K over asking on a house 2 years ago, having failed
on bids on previous houses. The realtor was pushing for no contingencies, but I advised him against that.

In your case, with an older house in the land, the plans may have
been to tear down the house, so as long as there were no problems with the land which would likely be obvious, they could go with no contingencies. Contracts typically have language that serious problems which are not obvious have to be made clear.
by MathWizard
Mon Mar 11, 2024 7:51 am
Forum: Personal Finance (Not Investing)
Topic: How much Roth Conversion should I plan on?
Replies: 18
Views: 2499

Re: How much Roth Conversion should I plan on?

You will likely need to go into the 22% bracket to just below the first tier of IRMAA. The 22% bracket is set to go away in 2026. You may need to go into the 25% bracket after that. RMDs and taxation of social security are likely going to cost you more.

Even with no growth, and living off taxable and converting 120K each of the 11 years, you still. have 700K in tax deferred. Assuming even a modest 4% nominal return in the 401k, you would only be converting a small fraction of the 401k to Roth.

You have enough to be OK either way though.
by MathWizard
Sun Mar 10, 2024 10:07 pm
Forum: Personal Finance (Not Investing)
Topic: How to Estimate Return Rates for Retirement Planning
Replies: 67
Views: 6023

Re: How to Estimate Return Rates for Retirement Planning

I obtained a table of historical returns and inflation from
https://pages.stern.nyu.edu/~adamodar/N ... retSP.html

I used that to generate mean and standard deviation for real returns from stocks and from bonds to use for Monte Carlo.

I start by discounting stock valuations by
20/CAPE , then run simulations from that lower portfolio valuation.

Currently the 95% success rate gives me about the same results over 35 years as using a constant rate of 2.55% for a 65/35 AA.

YMMV.
by MathWizard
Sat Mar 09, 2024 7:51 pm
Forum: Personal Consumer Issues
Topic: How much do you spend a month on food?
Replies: 334
Views: 29207

Re: What's normal for grocery costs for a family?

We are at about 500 to 600/ month for 2 adults.
We rarely eat out.

There was a huge money back offer on a subsequent trip a couple of weeks ago, and we bought everything that would last or was expensive like some over the counter medicine, and we paid $350 which was astronomical for us.

We don't buy organic, but do buy lots of fruits and vegetables, and not as much meat as in the past.
Meat has gotten quite a bit more expensive in the last few years.

Also, no alcohol, and no boxed cereal, just oatmeal.
by MathWizard
Sat Mar 09, 2024 3:58 pm
Forum: Investing - Theory, News & General
Topic: "When" do you sell equities during Retirement?
Replies: 29
Views: 4402

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

I sell proportionately most of the time. My AA is 65/35 so my withdrawals are 65% from equities and 35% from bonds, or thereabouts. I don't worry about my AA being slightly different from 65/35 unless it deviates significantly, typically from an extended bull market, or from a sudden drop in stocks. When it has deviated significantly, I either rebalance or I draw completely from the one that is higher that desired (stocks if they are over 65% or bonds if they are over 35%). The latter tends to move my AA back to where it is desired, but at a slower pace. It also makes it quite easy. One need only look at the AA occasionally when stocks are slowly but steadily going up. In the first decade of the 2000's they were several severe drops where o...
by MathWizard
Sat Mar 09, 2024 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: At what point did you prioritize health over money?
Replies: 53
Views: 6065

Re: At what point did you prioritize health over money?

at 65


I had planned to work until 68,but retired instead last year at 65 1/2
The frustration with the politics at work was causing increasing health problems. When I talked with my boss about why I was leaving, I told her that more time was now important than more money.
by MathWizard
Fri Mar 08, 2024 6:16 pm
Forum: Personal Investments
Topic: Checkup: I'm way behind. Hope for late bloomers?
Replies: 42
Views: 5387

Re: Checkup: I'm way behind. Hope for late bloomers?

Yes there is hope.

We had a negative net worth at 31, and a NW of about
120K counting retirement accounts at 41, with total salaries of
about $80K in today's dollars.

We bought a fixer upper at age 41, and put a lot of sweat
equity into it.
We are retired with about $2.3 million 25 years later,not counting about $400K in real estate.
Household income never exceeded $145K in today's dollars.
by MathWizard
Thu Mar 07, 2024 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: Promotion to the next level. How does it work?
Replies: 24
Views: 2979

Re: Promotion to the next level. How does it work?

I had to write the entire justification, and make my case to
get the promotion to Director.
by MathWizard
Thu Mar 07, 2024 7:58 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 9909

Re: Your Original Medicare Experience: Nightmare or Sublime?

Sublime.

I have additional insurance which covers copays and most costs for medications.
We end up paying almost nothing out of pocket.
by MathWizard
Thu Mar 07, 2024 6:42 pm
Forum: Personal Consumer Issues
Topic: Longtime iPhone user looking at Pixel - what to know?
Replies: 60
Views: 4772

Re: Longtime iPhone user looking at Pixel - what to know?

The biggest difference is probably FaceTime.
I can send text messages to my wife's iPhone, and she can send them to me.

I have 2 MacBook pros, iPad, apple TV, both my wife and I have iPhones (cheap with TracFone) , but my regular cell phone is
a pixel, now a Pixel 8.

The pixel 8 comes with 7 years of updates, which I really like.
I have had two other google phones with Google Fi which I love.

I traveled to Europe for work, and now early on in retirement, and it
just works when I walk off the plane. Data is the same cost as in the US (expensive if you use a lot, which I do not).
by MathWizard
Thu Mar 07, 2024 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Mental health or Money: navigating the OMY question
Replies: 48
Views: 4796

Re: Mental health or Money: navigating the OMY question

frugalecon wrote: Thu Mar 07, 2024 1:55 pm
AnnetteLouisan wrote: Thu Mar 07, 2024 1:37 pm You used the term burnout and called it severe burnout. I assume you aren’t using those words lightly. If you think there’s a risk of things worsening or getting into an accident then honestly, it’s pencils down, isn’t it? If not I agree with the other commenters.
Thanks for the perspective. It is the 2:00 am panic attacks and general sleeplessness that makes it feel like it is getting untenable.
I had the 2:00 sleep interruptions and popped antacids for years , but not the panic attacks.

If I had panic attacks, and had the money to leave, I would leave.
by MathWizard
Thu Mar 07, 2024 2:59 pm
Forum: Investing - Theory, News & General
Topic: Argument against people that say stock market is rigged, so don’t invest in it
Replies: 80
Views: 5448

Re: Argument against people that say stock market is rigged, so don’t invest in it

The thing that I find difficult with people who talk to me is that they believe that you should only hold winners and not losers. If I thought that they (or I) could pick the winners, I would invest that way. By picking the winners (buying individual stocks) you are in a sense gambling, just like picking which football team will win. Investing in the total market, you aren't picking the winning stocks, you are accepting that a few will lose, but others will gain. Since companies as a whole make money, you will earn some of that money because you own a piece of every business (or a proxy thereof). I struggled at first thinking that I know more than the average person, so I should be able to earn more than the average investor. Once I accepte...
by MathWizard
Tue Mar 05, 2024 6:21 pm
Forum: Personal Consumer Issues
Topic: Flying to London - Delta or British Airways
Replies: 58
Views: 5432

Re: Flying to London - Delta or British Airways

TarHeel2002 wrote: Tue Mar 05, 2024 8:27 am This will be our first trip abroad with our 3 kids.

These are our options:

Detroit to London direct round trip Delta $6250

Chicago to London direct round trip British Airways $4200

Any suggestions with this? Chicago is an hour extra driving time for us. Thank you!
Parking at Chicago airport would be expensive. Saving $2K would certainly cover that expense,
but you might want to look at either
a train ride Detroit to Chicago, or
rent a car in Detroit to drop off in Chicago.
Your car gets to stay in the garage at home, and you save the wear and tear on your car.
by MathWizard
Tue Mar 05, 2024 3:58 pm
Forum: Investing - Theory, News & General
Topic: What if you can't access your money?
Replies: 45
Views: 4213

Re: What if you can't access your money?

As mentioned, a natural disaster, like a flood, may necessitate cash. I have been in that situation where they handed out grease pencils on entry, and we wrote the price on the cans for the checkers to use, and paid cash, exact change was appreciated. A bank failure could cash issues. The federal reserve needs to come in and take over, do you may not be able to access cash in the bank at a moment's notice, whether brick and mortar or online. I keep a few hundred at the house for those occasions, plus a few thousand at the local credit union. We keep canned goods at home, a lifestraw, and have a gas/propane generator, and a small battery/inverter that hooks up to portable solar panels . I've lived through some natural disaster, so it's good ...
by MathWizard
Mon Mar 04, 2024 6:19 pm
Forum: Investing - Theory, News & General
Topic: Aggressive savers: Reduce stocks % the closer you are to your target numbers?
Replies: 32
Views: 3574

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

I did it based on age/ time to planned to retirement, though
of course this was somewhat correlated to portfolio size.
by MathWizard
Mon Mar 04, 2024 12:01 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff mortgage or maintain liquidity?
Replies: 52
Views: 3603

Re: Payoff mortgage or maintain liquidity?

Assuming all other things equal: If you can pay off your house, your job is one that is relatively secure, and you have enough extra to handle unexpected expenses then I would favor payoff. This improves cash flow, and you have an assured rate of return, likely better than any bond you could get. Paying down a mortgage isu h riskier even under your assumptions, since you have reduced your liquidity, but have not reduced cash flow until the final mortgage payment. This is what I did, though my wife wanted to pay down the mortgage, even when we were paying 3.75% and making 12% (not an assured 12% though, and the 3.75% was after 3 refinancings each lowering the rate from the original 7%, and reducing the term. We paid the 3.75% off when we had...
by MathWizard
Sun Mar 03, 2024 1:01 pm
Forum: Personal Consumer Issues
Topic: Question about Solar panels
Replies: 92
Views: 6283

Re: Question about Solar panels

If a portable generator is too muc bother (maintenance for example) and you do not want an EV which has the capability to feed the house (not all have this) , there is one other option, though I have never tried it, and have no endorsement of it: CarGenerator Basically just a pure sine wave inverter made easy to hook to your car battery. This allows you to have a generator that is easy to start and is maintained, you just hang it on the front of the car and hook clamps like jumper cables on the battery. Caveats: the model for all weather is much more expensive ,but needed in bad weather. You must run the car out of and well away from the house (to avoid carbon monoxide poisoning) It provides only a small amount of power You will likely need...
by MathWizard
Sun Mar 03, 2024 10:55 am
Forum: Personal Investments
Topic: Should we consider a Roth 401k?
Replies: 8
Views: 467

Re: Should we consider a Roth 401k?

I used tax deferred to get down to the top of the 12%
bracket and Roth for the rest .

I am certain that my marginal rate will be 12% or more
in retirement
by MathWizard
Sun Mar 03, 2024 1:13 am
Forum: Personal Consumer Issues
Topic: Question about Solar panels
Replies: 92
Views: 6283

Re: Question about Solar panels

I'd say get a portable generator like I have,but I think that California is moving towards restricting their use. The restriction is for the sale of new gas powered generators after January 1st 2028. They can still be used after that date. Thanks for the info. To the OP: I bought the best dual fuel generator that I could get after a major multi-state,multi-day outage. If I could do it over again, I would have waited a bit to get an inverter generator. They are more expensive, but much quieter,especially under low load. The one I have is very loud, and I would never use it at night, so I'll need to get some sort of battery backup for my wife's CPAP. I might run a quiet inverter generator at night during an outage, but not my noisy one. That...
by MathWizard
Sat Mar 02, 2024 10:43 pm
Forum: Personal Finance (Not Investing)
Topic: 12% Now, 12% Later: Roth Conversions Worth It?
Replies: 41
Views: 5379

Re: 12% Now, 12% Later: Roth Conversions Worth It?

In addition to the previous excellent responses, you or your spouse is unlikely to be in the 12% (or even 15%) bracket after one of you passes away.

That is the major reason why I am doing Roth conversions.
by MathWizard
Sat Mar 02, 2024 7:37 pm
Forum: Personal Consumer Issues
Topic: Question about Solar panels
Replies: 92
Views: 6283

Re: Question about Solar panels

One option available from Germany is the SMA Sunny Boy grid tied inverter.

This has a method for providing up 2000 Watts went the grid is down but the sun is shining.
This could be paired with something like a Bluetti or Jackery "solar generator" which you can use like a UPS, but also being charged from the one circuit.
by MathWizard
Sat Mar 02, 2024 7:32 pm
Forum: Personal Consumer Issues
Topic: Question about Solar panels
Replies: 92
Views: 6283

Re: Question about Solar panels

One option available in Australia is the Sunny Boy grid tied inverter.

This has a method for disconnect from the grid and providing a single 120 V outlet for use only while the sun is shining. This could be paired with something like a Bluetti or Jackery "solar generator"
which you can use like a UPS, but also being charged from the one circuit.
by MathWizard
Sat Mar 02, 2024 7:28 pm
Forum: Personal Consumer Issues
Topic: Question about Solar panels
Replies: 92
Views: 6283

Re: Question about Solar panels

Our 4.6 KW grid tied (series with optimizers, not microinverters)
cost $15K before tax credits.

The company said that adding batteries which included changing the inverter to a hybrid inverter, was a minimum $8 K.

The advantage of the hybrid system is that the solar will charge the batteries every day, so you don't need a huge battery bank.

If you use a sub panel for you only essential circuits:
fridge / freezer
sump pump
furnace (I'd skip A/C and use fans or stay in the basement)
internet,phones
Microwave,toaster, coffee pot
some lights

then you can get through short outages.

I'd say get a portable generator like I have,but I think that California is moving towards restricting their use.
by MathWizard
Fri Mar 01, 2024 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Real Stories of College Savings: what was your plan, and what happened?
Replies: 98
Views: 7338

Re: Real Stories of College Savings: what was your plan, and what happened?

The oldest was 12 when we finished paying of our school loans and could buy a house. I was panicking about college coming up soon.

I saved $12K in taxable, maxed Roths with the intention of pulling the contributions to help pay for college.

The oldest went to college in 2007. I was able to cash flow college by then partly by just passing putting money into Roths.

It helped that both got some merit scholarships, and went in-state.

The AOTC helped as well
by MathWizard
Fri Mar 01, 2024 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Complain About Bad Boss?
Replies: 56
Views: 5821

Re: Complain About Bad Boss?

If you complain to your boss' boss , you are saying that your boss is not doing his/her job. Not a good strategy.

I would get yourself ready to leave before you take action. (Probably good to be ready at any time especially if you are
in an at-will state .)

You could talk with your boss at a 1-1 to discuss overall future plans at a high level,so you could get ahead of projects.
You can frame this as a way to allow you/the group to be able to help her when she gets a change in direction from upper management.
by MathWizard
Fri Mar 01, 2024 6:52 pm
Forum: Investing - Theory, News & General
Topic: Are We in a Stock Market Bubble? (Ray Dalio)
Replies: 132
Views: 15392

Re: Are We in a Stock Market Bubble? (Ray Dalio)

I think that the market stock prices are too high, and have been for years, but there is little that I can do about it.

I don't know when
prices will drop, or
if instead of dropping that prices will just stay stagnant for a decade until earnings catch up with the prices.

I use a different measure, but one indicator is that Berkshire Hathaway is sitting on a pile of cash.
This because Warren Buffett claims that there are not any purchase opportunities at this time.
The last time BH had such a large pile of cash was in 2008, which was used to make purchases such as billions of convertible preferred stock in GE which came with a 20% dividend.
by MathWizard
Fri Mar 01, 2024 3:48 am
Forum: Personal Finance (Not Investing)
Topic: What is your favorite retirement calculator and how can one get it?
Replies: 49
Views: 11924

Re: What is your favorite retirement calculator and how can one get it?

I do my own, but i-orp.com would be my go to if I could not do it myself. Use the advanced option. It no longer does Roth conversions by default, but you can select it. I played around with it and it seems interesting. I would have to spend more time to make sure my inputs are correct. I also am having trouble interpreting many of the output charts. A down side for me is it doesn't model non-spousal inherited IRA RMDs. The FAQ offers a workaround, but that would assume a 10-year withdrawal schedule whereas I am grandfathered into the old rules where I can take RMDs over my lifetime. I like that it seems to take your asset locations into consideration when it calculates the withdrawal schedule. I-orp is no longer being maintained by its aut...
by MathWizard
Fri Mar 01, 2024 3:41 am
Forum: Personal Investments
Topic: Second Tier Short Term Savings
Replies: 26
Views: 3456

Re: Second Tier Short Term Savings

Are you maxing Roth IRAs?

If not, that is an excellent place for a 2nd tier liquidity fund. Roth contributions can be pulled at any time.
by MathWizard
Wed Feb 28, 2024 6:20 pm
Forum: Investing - Theory, News & General
Topic: What good is tax deferred?
Replies: 122
Views: 15316

Re: What good is tax deferred?

By using tax deferred judiciously, I was able to avoid
the 22 and earlier the 25% brackets. I filled up the 12 and 15%
brackets as much as possible.

When I was below the 25% bracket, I was able to contribute more to my 403b in the amount that my taxes were reduced.
That money made money, compounding through the years.

I am taking advantage of some of the 22% bracket which will last through next year (before reverting to 25%) to do Roth conversions to avoid 27.5% marginal tax (15% + 85% of SS) or 40+% marginal (25% + 85% of SS). See the heatmap on SS taxation in the wiki.
by MathWizard
Wed Feb 28, 2024 5:21 pm
Forum: Personal Investments
Topic: Retiring in one year - How to generate a safe cash flow?
Replies: 19
Views: 2940

Re: Retiring in one year - How to generate a safe cash flow?

I assume there is some SS. Don't claim until 70, as that is the best
inflation adjusted annuity there is.

I would put some money into an annuity at some point.
Even if not inflation adjusted, this should get you a better yield than
VMFXX .

There are also MYGAs and things like Ibonds and Tips for some inflation protection.

Just some things to consider.

With $10 million, you could do just about anything other than throw the dice on a single stock and come out fine.
by MathWizard
Wed Feb 28, 2024 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: A confident Boglehead in his 60s pondering managing a portfolio in their 80s and beyond?
Replies: 42
Views: 5532

Re: A confident Boglehead in his 60s pondering managing a portfolio in their 80s and beyond?

I am simplying everything, including doing Roth conversions early on and claiming SS at age 70. After age 70, everything is pretty much constant in real dollars except that the surviving spouse (likely my wife) will need to withdraw more from Roth to replace the smaller SS check. Almost all monthly bills are on autopay already, so other than the occasional maintenance or purchase, and Credit card payments, everything is automated, with money being deposited in our checking and savings account each month to be used by the autopay. We are down considerably in the number of checks we write. We wrote 58 checks all last year,mostly to CC companies, and expect to write fewer this year. That is our plan. If we ever have to, we can automate everyth...
by MathWizard
Wed Feb 28, 2024 5:01 pm
Forum: Personal Consumer Issues
Topic: Suggestions for best recordng device for college classroom
Replies: 12
Views: 1493

Re: Suggestions for best recordng device for college classroom

In some classes just an audio recording is not sufficient.

I tried and audio recording once in a physics course, and
ended up with
"and now we substitute for variable X in this equation to simply the expression to this"

In classes which are not equation - heavy, audio recording might work.

Video + audio would work much better if that is allowed.
by MathWizard
Tue Feb 27, 2024 10:05 pm
Forum: Personal Investments
Topic: 12% Bracket-Roth vs. Traditional
Replies: 35
Views: 4184

Re: 12% Bracket-Roth vs. Traditional

My wife and I maxed Roth IRAs nearly every year, and I was always in the 15% bracket (12% bracket since 2017). We ended up with over $200K each in Roth IRAs. That's a good deal for you. Less deferred! Today DW and my Roth's are $430K. That's $430K that avoided being in deferred accounts. We are already RMD age, so that saves us about $4000/yr in taxes between Fed and State. I've also converted another $150K at a tax cost of 22%. We a not likely to ever need those Roth $, hence they will go to our 3 Kids, 2 who are in the 22% Fed bracket today, and 1 in the 32% Fed + 11% state. Giving that as inheritance was not on the scope when we started to Roth in the late 90's, but by the time I retired, it was becoming obvious to do so. The goal for t...
by MathWizard
Tue Feb 27, 2024 6:23 pm
Forum: Personal Finance (Not Investing)
Topic: When did your Net Worth surpass your lifetime earnings?
Replies: 93
Views: 11639

Re: When did your Net Worth surpass your lifetime earnings?

It hasn't, even in nominal terms,much less inflation adjusted. I'm not sure why it should be expected to, at least for someone around my age. I started working full time in 1990. Five years later, the market went on about a 4x increase in 5 years. So stocks became expensive really early in my career. Then the 2000's which were the lost decade. So most of the investment gains came in the 2010's and then came the pandemic, and a 17% drop on 2022. Add to this that my salary jumped only in the last 8 years, when I could then max tax advantaged. My AGI never left the 12 or 15% federal tax brackets, and state income taxes were nearly half what federal was, taking a chunk out of gross income. I believe that about half of my portfolio consists of m...
by MathWizard
Tue Feb 27, 2024 11:24 am
Forum: Personal Investments
Topic: 12% Bracket-Roth vs. Traditional
Replies: 35
Views: 4184

Re: 12% Bracket-Roth vs. Traditional

My wife and I maxed Roth IRAs nearly every year, and I was always in the 15% bracket (12% bracket since 2017).

We ended up with over $200K each in Roth IRAs.
by MathWizard
Tue Feb 27, 2024 11:12 am
Forum: Personal Consumer Issues
Topic: Best < $100 purchase?
Replies: 299
Views: 55783

Re: Best < $100 purchase?

Tablo Over the Air DVR with 128GB internal storage. $99 It records TV shows we like so we can watch later, and not be tied to a TV schedule. After the recording is done, when I watch later, I can skip through commercials. I can watch on my phone or iPad as long as I'm on our house wireless. That's not a big restriction for me. Question. Tablo's EPG (electronic program guide), is it extracted from OTA program information, or is an internet connection required? I ask because I've been curious about making my life easier by adding a DVR ...but don't have home internet. My current EPG is one channel at a time---current channel, only---by using an attached digital converter box*. (* Digital Stream converter box: ~12hrs of current/future program...
by MathWizard
Tue Feb 27, 2024 11:06 am
Forum: Personal Investments
Topic: UNC System Fidleity to TIAA Conversion
Replies: 25
Views: 2714

Re: UNC System Fidleity to TIAA Conversion

TIAA for the 401a, 403b, and 457 have been fine for me. One nice feature is that TIAA has an physical office in my University town, so you can make an appointment to interact with an actual person. They also hold occasional talks at the university on topics like the Roth 403b and some catch-up options like the one time $15 K 493b catch up on top of the normal over 50 catch-ups. I used that as five $3K catch-ups to lower me below the 25% federal bracket. In about 2008/9, TIAA introduced tiers of fees (3 and maybe 4 now)based on the amount of dollars from that institution. The ERs for largest institutions are the lowest. For a large university, you'll have the lowest ERs. Where this hurt me was for IRAs . I think that they are expensive to ma...
by MathWizard
Mon Feb 26, 2024 10:51 pm
Forum: Personal Consumer Issues
Topic: Best < $100 purchase?
Replies: 299
Views: 55783

Re: Best < $100 purchase?

Tablo Over the Air DVR with 128GB internal storage.
$99


It records TV shows we like so we can watch later, and not be tied to a TV schedule.
After the recording is done, when I watch later, I can skip through commercials.

I can watch on my phone or iPad as long as I'm on our house wireless. That's not a big restriction for me.
by MathWizard
Sun Feb 25, 2024 8:59 pm
Forum: Personal Investments
Topic: Talk me out of over-optimizing my portfolio
Replies: 32
Views: 2990

Re: Talk me out of over-optimizing my portfolio

STEM PhD here, recently retired.

Beyond some basic decisions:
diversified portfolio via an index,
keeping fees low, and using an AA that allows you to stay the course,
there is little that one can do to eke out much more gain.

You will be better off getting the PhD completed so that your human capital is high as soon as possible, then you will be able
to invest more. That will be better than obsessing over optimizations that will have negligible effect on your portfolio.
by MathWizard
Sun Feb 25, 2024 6:20 pm
Forum: Personal Finance (Not Investing)
Topic: Find it confusing to leverage AOTC - 529
Replies: 26
Views: 2570

Re: Find it confusing to leverage AOTC - 529

You only get 4 years of AOC and even with graduating in
4 years, it is 5 tax years. You can choose which ones.

If things don't work out this, presumably, first year, you could
save it to use in the 5th year, especially if the 5th year is
2 semesters.
by MathWizard
Sun Feb 25, 2024 2:04 pm
Forum: Personal Investments
Topic: Finances in retirement
Replies: 30
Views: 5054

Re: Finances in retirement

I'd delay SS at least until full retirement age, which would be 67 for you if you turn 65 next year. This because SS benefits are reduced $1 per $2 of earned income. I assume that your payments will be considered earned income .

If you are getting 5 years of this income, then delaying until age 70 would be smart if you don't need the SS income, since
it should reduce your taxes in those 5 years, and
when you claim at 70, at most 85% of the SS benefits will be taxable.
by MathWizard
Sun Feb 25, 2024 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: What got you out of poverty?
Replies: 111
Views: 12845

Re: What got you out of poverty?

Worked hard on farms and construction with long days 6 days a week. These were the only jobs available in my area when I'm HS, and through college. Decided that I preferred working inside when it is cold and wet.

I had to break some mind-sets from my peers. Most believed in spending whatever you earned. A few overdrafts , and then paying 16 and 18% interest convinced me to live below my means and be the one on the other side of the interest.

Education in STEM fields which I was good at. Engineering, physics and mathematics.

My retirement account at work with the match got me interested in investments.
by MathWizard
Sun Feb 25, 2024 1:19 pm
Forum: Personal Consumer Issues
Topic: tipping shuttle driver ?
Replies: 34
Views: 3965

Re: tipping shuttle driver ?

Just back from.Hawaii.

I tipped $5 for the wife and I.

If you are staying in Honolulu, I'd recommend the HOLO card
for the bus. Busses cost $3 per trip, and it is the cheapest way to get out to Pearl Harbor.

You will need one per person, and you can pick one up at any one of the ABC minimarts or a 7-11.

They have a day pass as well.