Search found 26 matches

by fisher_man89
Tue Feb 11, 2014 11:52 pm
Forum: Personal Finance (Not Investing)
Topic: USAA Auto Insurance?
Replies: 70
Views: 12819

Re: USAA Auto Insurance?

I had USAA until I moved states and from a city to a rural area. They wanted to double the price of my car insurance. After many conversations, USAA claimed their pricing model involved previous claims in the area and was non-negotiable. So same vehicle, same driver, less cars on the road, but much ...
by fisher_man89
Sat Jan 18, 2014 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Low Income, High Net Worth - Stories Of
Replies: 76
Views: 15416

Re: Low Income, High Net Worth - Stories Of

6. Having kids is a huge financial drain. Even with all of the above, on a modest income, my view is, with kids, you have a choice - you won't be able to travel, save for retirement, buy a house, and have financial security (not including home & retirement). At best, you may have two of those (with...
by fisher_man89
Wed Oct 09, 2013 9:51 am
Forum: Personal Finance (Not Investing)
Topic: Getting access to ACA plan options?
Replies: 29
Views: 1662

Re: Getting access to ACA plan options?

The system has been overloaded and not working well. I did create 1 account last week, but it took a while. This week it is working better. I helped someone today and it took still 3-4 tries. If the account does not get registered and the email verification link does not complete, I would register a...
by fisher_man89
Wed Jul 31, 2013 11:36 am
Forum: Investing - Help with Personal Investments
Topic: Low-Income Investing
Replies: 100
Views: 8750

Re: Low-Income Investing

Do you pay into and qualify for Social Security in addition to the state pension, or are you exempt? I do pay SS taxes as a paycheck deduction. 2012 was the first year I collected a taxable salary, so I don't expect to receive much SS when I do retire (assuming it's still there, of course). Only th...
by fisher_man89
Wed Jul 31, 2013 11:28 am
Forum: Investing - Help with Personal Investments
Topic: Low-Income Investing
Replies: 100
Views: 8750

Re: Low-Income Investing

Assuming a high income is an unfortunate prejudice of this board. The assumption that if one is not maxing out their 401k, he is doing a bad job, is based on that assumption. But the basic investing advice is still applicable to your situation. It looks like you are doing really well, actually. My c...
by fisher_man89
Fri Jul 12, 2013 7:08 am
Forum: Investing - Help with Personal Investments
Topic: Sacrifices: Saving 50% of Take Home Pay?
Replies: 44
Views: 7917

Re: Sacrifices: Saving 50% of Take Home Pay?

As others have mentioned, getting your wife on board is critical. Your plan is perfectly doable and even commendable. Better to stretch your saving muscles early and young. With kids it becomes harder to focus and set habits, but if they are in place beforehand, you can always increase your standard...
by fisher_man89
Sun Jul 07, 2013 7:09 am
Forum: Personal Finance (Not Investing)
Topic: Having a baby -- [PPACA]
Replies: 23
Views: 2676

Re: Having a baby -- [PPACA]

Insurance is not magic. The reason why some states (like Texas) do not have maternity health insurance is fairly intuitive. Insurance works by paying the premiums out in benefits, minus administrative expenses and profits. Only where there are many more insureds paying premiums than insureds receivi...
by fisher_man89
Wed Jun 19, 2013 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Are hybrid cars cost effective?
Replies: 109
Views: 11255

Re: Are hybrid cars cost effective?

Hybrids undoubtedly get better gas mileage, but you are really prepaying or subsidizing your future gas cost with better and more costly technology. While 50mpg sounds great and is much better than 30, the difference is not so great in dollars (especially as gas cars push towards 40mpg). Comparing b...
by fisher_man89
Mon Jun 17, 2013 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Article about young americans not using credit cards
Replies: 81
Views: 7335

Re: Article about young americans not using credit cards

Credit cards are for buying and spending, which says nothing about responsibility or irresponsibility in abstract. One's credit availability does not speak of employment, income, or savings. I think we can agree that one's saving rate and net worth tell of one's responsibility, not the particular pi...
by fisher_man89
Thu Mar 14, 2013 9:55 am
Forum: Personal Finance (Not Investing)
Topic: 529 plan article suggests improvements
Replies: 12
Views: 1331

Re: 529 plan article suggests improvements

Not to be too disagreeable, but 529s are great for low income earners too. The tax rate is not the issue, but the loss of tax credits and financial aid benefits that can occur with saving for college outside of 529s. There is a limit to the investment income earned ($3,300 this year) at which the Ea...
by fisher_man89
Tue Mar 12, 2013 10:44 am
Forum: Personal Finance (Not Investing)
Topic: I despise the Windfall Elimination Provision (WEP)
Replies: 21
Views: 3215

Re: I despise the Windfall Elimination Provision (WEP)

76% in our case is correct as she gets caught at the very most WEP reduction of $396.00+ Are you sure? It sounds like this note from the WEP chart I cited above might apply: *Important: The maximum amount may be overstated. The WEP reduction is limited to one-half of your pension from non-covered e...
by fisher_man89
Tue Mar 12, 2013 9:00 am
Forum: Personal Finance (Not Investing)
Topic: I despise the Windfall Elimination Provision (WEP)
Replies: 21
Views: 3215

Re: I despise the Windfall Elimination Provision (WEP)

The max reduction under WEP is ~40%, which is less than 76%. Maybe the OP meant the reduced benefit is 76% of the unreduced total. Also WEP does not apply to Railroad pensions (it must be something else): The Windfall Elimination Provision does not apply if: You are a federal worker first hired afte...
by fisher_man89
Fri Nov 09, 2012 7:42 pm
Forum: Investing - Help with Personal Investments
Topic: Short-term 529 Question
Replies: 3
Views: 1128

Re: Short-term 529 Question

VA has several programs which is confusing. From the wiki page, the money market might fit your needs: Virginia 529 Plan VEST is the traditional 529 program (state administered), which is worth looking at From the program overview: VEST: The Virginia Education Savings Trust – VEST - is another VA529...
by fisher_man89
Sat Sep 29, 2012 12:37 pm
Forum: Investing - Theory, News & General
Topic: buffett's outperformance
Replies: 28
Views: 3994

Re: buffett's outperformance

Buffett amplifies his returns using leverage to buy stocks, and on a much smaller scale this reminds me of the pay down mortgage versus invest for retirement debate. That's not true. Buffett claims to never have used debt in any significant way personally in the biography The Snowball . He doesn't ...
by fisher_man89
Fri Jun 01, 2012 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off mortgage because it FEELS good?
Replies: 125
Views: 10622

Re: Pay off mortgage because it FEELS good?

But many of the posts on the thread spoke of how it feels ... people tend to make impulse purchases for exactly the same reason: it feels great If people pay off a mortgage for the same reason people impulse shop, then people also stay faithfully married for 50 years and others hook up for one nigh...
by fisher_man89
Sun May 13, 2012 8:12 am
Forum: Investing - Theory, News & General
Topic: Cost of Capital Story is What Sells Me on Tilting
Replies: 14
Views: 1446

Re: Cost of Capital Story is What Sells Me on Tilting

I'm quite confident that it's reasonable to assume that small, leveraged, distressed companies have a harder time borrowing, and therefore higher costs of capital. And I'm sure this is especially true during financial crises. So how can there not always be an expected risk premium? Dave I tend thin...
by fisher_man89
Wed May 09, 2012 6:59 am
Forum: Personal Consumer Issues
Topic: Does anyone own a Hyundai?
Replies: 71
Views: 8169

Re: Does anyone own a Hyundai?

I was looking at used cars on the Hertz rental car sales website. You can find a few 2011's with only 22,000 miles or so. And I saw 2011 Hyundais's at my local Enterprise rental car sales lot with less than 25,000 miles. Fleet cars are abused. Having worked for two rental car companies, I've seen i...
by fisher_man89
Thu Mar 29, 2012 4:15 am
Forum: Personal Finance (Not Investing)
Topic: If I listened to Dave Ramsey
Replies: 194
Views: 27931

Re: If I listened to Dave Ramsey

Dave doesn't give much investing advice (though he personally prefers real estate), but his philosophy of money is quite good. He is against all risk , which is what debt represents. His investing advice may be shallow, but his wisdom on money is quite profound, in my opinion. If that were true, he...
by fisher_man89
Thu Mar 29, 2012 3:48 am
Forum: Personal Finance (Not Investing)
Topic: If I listened to Dave Ramsey
Replies: 194
Views: 27931

Re: If I listened to Dave Ramsey

Can anyone honestly say that they are certain they would spend the same amount using cash? Especially when the OP is bragging about what great incentives he got (win one for the CC). I can't say that I'd spend the same, because I wouldn't... I'd spend more if I was using cash only. I realize I'm st...
by fisher_man89
Thu Mar 29, 2012 3:33 am
Forum: Personal Finance (Not Investing)
Topic: If I listened to Dave Ramsey
Replies: 194
Views: 27931

Re: If I listened to Dave Ramsey

Using and paying off a CC each month might not be financial slavery, but it does obligate you to the credit card company. After all, you are using their money not your own. What about checks? What about debit cards? What about federal reserve notes? None of these put one into debt (using another's ...
by fisher_man89
Wed Mar 28, 2012 11:00 am
Forum: Personal Finance (Not Investing)
Topic: If I listened to Dave Ramsey
Replies: 194
Views: 27931

Re: If I listened to Dave Ramsey

As a fan of Dave Ramsey's show, I have a few comments. One, credit cards are not neutral to Dave. They are bad or evil. There is no good use of them, in his view. That is not "emotional" or an investing principle, it is a biblical one. As a Christian, he cites "the borrow is slave to the lender" all...
by fisher_man89
Mon Mar 26, 2012 8:38 am
Forum: Investing - Help with Personal Investments
Topic: When people say maxing out your 401k
Replies: 18
Views: 3093

Re: When people say maxing out your 401k

The underlying assumption behind the expectation of maxing out one's 401k is an above average income. It seems to be true for most on this board, though it is not true for all. What it masks is the assumption of a high tax-rate, which determines how much saving pre-tax is worth. At an average U.S. i...
by fisher_man89
Sat Mar 24, 2012 3:11 pm
Forum: Investing - Theory, News & General
Topic: Single Most Valuable Thing
Replies: 50
Views: 3615

Re: Single Most Valuable Thing

That solid investing theory is not complex or some sort of black magic beyond the grasp of the non-professional. To invest well is almost mind-numbingly simple, though it is not easy at all to carry out in practice. Investing seems more like dieting or staying in shape to me than anything else. In o...
by fisher_man89
Fri Mar 09, 2012 9:57 am
Forum: Investing - Theory, News & General
Topic: <Richard Dawson voice> Survey says $150K needed to live...
Replies: 102
Views: 6513

Re: <Richard Dawson voice> Survey says $150K needed to live.

It is not really money we are talking about, or necessities, but lifestyle. And that is relative. The Hollywood starlet, might think a $150k lifestyle is living in poverty. The average person in the world lives on around $1/day. I bet they can't imagine someone living on half that. I can't imagine s...
by fisher_man89
Sun Feb 12, 2012 8:23 pm
Forum: Personal Finance (Not Investing)
Topic: Why Do You Save?
Replies: 45
Views: 2800

Re: Why Do You Save?

I have more than I need. The opposite (debt) I see as moderately immoral. Fear seems to be based on (future) discontentment, whereas having more than enough sees blessings in the present, without making assumptions about the future. Wealth does not alleviate fear or provide security, as illustrated ...
by fisher_man89
Sat Jan 28, 2012 12:03 pm
Forum: Personal Finance (Not Investing)
Topic: How much does a house cost in your area?
Replies: 56
Views: 4513

Re: How much does a house cost in your area?

About $35k for a older, though remodeled, house in a small village (under 1000 population) in the Midwest.
Most of these homes have 4+ bedrooms.

Most people here have more invested in vehicles than their home.