Search found 64 matches

by goodbishop
Tue Oct 28, 2014 5:53 pm
Forum: Personal Finance (Not Investing)
Topic: Wife is a newly minted medical partner - next steps?
Replies: 9
Views: 2265

Re: Wife is a newly minted medical partner - next steps?

I did get price points on how much 2-3 million will be for umbrella policy - so I will be getting that updated - side note, thanks for the reminder of this. I also reached out to our insurance agent - does anybody know what the key aspects are for long term disability, or key items I should look to be in the policy? Quite honestly, it seems a bit convoluted. Expenses - good point on that. Only office to office is what I meant, and it's a good idea as mentioned to track that in Excel. I think the incorporating was from a time where partnerships were dominant, and there wasn't corporate structures like a LLC, so you had to incorporate to reduce personal liability. Asset protection - any suggestions on this? Trusts and so forth... I feel like ...
by goodbishop
Fri Oct 24, 2014 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Wife is a newly minted medical partner - next steps?
Replies: 9
Views: 2265

Wife is a newly minted medical partner - next steps?

So my wife has been working at a medical practice for a few years, and she was just accepted to be a Member in the practice, which is a LLC. As a side note, I'm so proud of her! We recently met with the CEO/CFO to talk through what this means, and I had a few questions for folks here: Decision to incorporate. There is a option to personally incorporate - the CEO/CFO mentioned that out of 20 doctors, 1 incorporated, and they regretted it afterward. I'm inclined to not incorporate for that and keep things simple, but I'm wondering if people have alternate thoughts on that. Taxes. It was recommended by both the CEO and CFO to have a accountant do our taxes, and they provided a reference to the practice's accountant. The thing that irks me is t...
by goodbishop
Fri Apr 25, 2014 9:32 am
Forum: Investing - Theory, News & General
Topic: Free "If You Can" Kindle and .pdf eBook
Replies: 56
Views: 27308

Re: Free "If You Can" Kindle and .pdf eBook

Odd - today (4/25), the book isn't free on Amazon...
by goodbishop
Thu Apr 03, 2014 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Should you discuss your wages with your peers?
Replies: 82
Views: 10094

Re: Should you discuss your wages with your peers?

I personally think Glassdoor combined with salary surveys should give you the knowledge you require.

It's really not about your peers - it's about you. You should know what you're worth, and if it is fair or not.
by goodbishop
Thu Apr 03, 2014 3:49 pm
Forum: Personal Investments
Topic: Consolidation with Schwab?
Replies: 23
Views: 3254

Re: Consolidation with Schwab?

I would suggest researching the ones that have the best funds (typically Vanguard ones, but it's your call), and then start to consolidate the 401ks there. There are benefits to having 401ks as opposed to rolling them over to traditional IRAs (such as with Schwab).

I had a similar experience a few years ago - a number of 401ks, IRAs all over the place, and it did feel good to consolidate them all. Now I have 1 401k, 1 Trad. IRA, 1 Roth IRA, and a few brokerage accounts for educational funds for the kiddo. Simplicity is good.
by goodbishop
Tue Jan 21, 2014 7:27 am
Forum: Personal Investments
Topic: Schwab Making It Difficult to Switch to Vanguard
Replies: 23
Views: 3502

Re: Schwab Making It Difficult to Switch to Vanguard

If you use Mint or another financial aggregator, and you changed your password on Schwab, if you didn't change it on Mint, then it would keep trying to log you in at Schwab and lock you out.
by goodbishop
Thu Jan 16, 2014 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity 2% Amex Cardholders: Autopay the Bill?
Replies: 31
Views: 5503

Re: Fidelity 2% Amex Cardholders: Autopay the Bill?

Now I would caution you - if you want to pay your bills early, you will still have the same amount drawn when it says it will be taken out, unlike American Express or other credit cards.

FIA doesn't have their act together with regards to this. Say you have a 2k bill due Feb 31st. You pay that 2k on Feb 3rd because you want a clean slate or that's your day to pay off bills - it will still take 2k out of your checking account on Feb 31st.
by goodbishop
Wed Jan 15, 2014 7:52 pm
Forum: Personal Consumer Issues
Topic: Target Breach, Updated
Replies: 52
Views: 6618

Re: Target Breach, Updated

So now Target says that the names, mailing addresses, and email addresses of approximately 70 million customers may have been stolen during their recent data breach. I seriously doubt that 70 million adult Americans (approximately 1 in 3 of all Americans over age 18) shopped at Target during the 2- to 3-week period they initially said was involved, which means that the thieves likely accessed Target databases in addition to those storing POS information. I fear that means gift registries, mailing lists, and pharmacy records. Can anyone here confirm that this must be true? Am I correct that this sort of personal information is not stored in the magnetic strip data on credit/debit cards and must have come from some other source? Should we al...
by goodbishop
Wed Jan 15, 2014 7:46 pm
Forum: Personal Consumer Issues
Topic: percolator vs drip
Replies: 109
Views: 12104

Re: percolator vs drip

OK. now that we all have our investments fine tuned for enormous wealth (??), let's talk about a REALLY important issue...coffee. How do you make your coffee? Percolator or drip maker? I have tried both. I have a percolator that I swear (NOT cuss :happy )by, and I also have a Cuisanart drip. The percolator brews very hot and balanced coffee. My drip is not nearly as hot and the taste is a tad bit rougher tasting. How do you other Bogleheads make your coffee that you love to enjoy while reading your Wall Street Journal, Investors Business Daily, New York Times, Washington Post, Money mag, Kiplingers mag, and whatever other financial engineering publications you like? Have a great day and Happy Investing to all, Don I LOVE my Keurig machine....
by goodbishop
Wed Jan 15, 2014 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with extra cash
Replies: 3
Views: 776

Re: What to do with extra cash

Fund the Roths and save it for the kid (congrats!!!). I have a 19 month old - kids are expensive!
by goodbishop
Wed Jan 15, 2014 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: Should my son pay me rent, utilities, etc...?
Replies: 124
Views: 14641

Re: Should my son pay me rent, utilities, etc...?

OP back. Sorry for any confusion after resurecting this 3 year old post. I came across it the other day and just decided to update everyone - kind of a spontaneous thing. Thanks everyone for all of your opinions and advice. I know you all have mine and my son's best interests at heart as evidenced by your thoughtful responses. This forum has got to be one of THE BEST out there. After a prompting from me, he has agreed to visit the army recruiter next week. Is his heart really into the military? Probably not, but hopefully it can at least be a jumping off point to get him out of this 3 year rut. Our relationship is strained, but not what I would call bad. We talk, he listens (for the most part), but he is not at all open with me about what ...
by goodbishop
Tue Jan 14, 2014 7:28 am
Forum: Personal Consumer Issues
Topic: Best Movies of 2013
Replies: 83
Views: 11661

Re: Best Movies of 2013

The Hobbit!
by goodbishop
Tue Jan 14, 2014 7:27 am
Forum: Personal Consumer Issues
Topic: High Income Earner & College Attended
Replies: 58
Views: 6733

Re: High Income Earner & College Attended

University of Phoenix, and yet I'm well over 100k (and no grad school complete).

I would think though that I am a outlier.
by goodbishop
Mon Jan 13, 2014 7:44 am
Forum: Personal Consumer Issues
Topic: Thinking about buying a 2014 Acura RDX
Replies: 44
Views: 18025

Re: Thinking about buying a 2014 Acura RDX

I did a test drive in a RDX, and the noise was minimal, much less than any other car I tested.

I did end up with getting a 2014 Ford Escape, fully loaded (Titanium, AWD, Navi, 19" wheels, etc), and I can still use regular gas in it. :)
by goodbishop
Sat Jan 04, 2014 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: IT job satisfaction
Replies: 54
Views: 8351

Re: IT job satisfaction

If you work/worked in the IT field, how satisfied are you with your job and what is your education and experience? Do you get excited about your work or do you dread Mondays? I have a degree in Computer Engineering from a very good university and have 10 years of experience as a web applications / database developer. I enjoy the field and feel it's a great fit for me. My current job has some great benefits -- job security, decent pay, great work life balance. It also has some downsides -- I've reached a bit of a ceiling (I work mostly with non-tech people), it's not a very motivating environment and there are some major politics. On a scale of 1 to 5 my overall satisfaction level goes between a 2 and 4. I feel fortunate to have my job yet ...
by goodbishop
Thu Jan 02, 2014 11:19 am
Forum: Personal Finance (Not Investing)
Topic: How much was your total 2013 credit card rewards
Replies: 51
Views: 11372

Re: How much was your total 2013 credit card rewards

87178 Starpoints
180.26 in gas rewards
434.56 in Visa rewards
50.00 Eddie Bauer gift card via Discover
by goodbishop
Wed Dec 18, 2013 9:24 pm
Forum: Personal Consumer Issues
Topic: computer security
Replies: 22
Views: 2806

Re: computer security

Why not use two browsers - Firefox and Chrome. Use one for normal browsing, and one for secure purchasing.

There are lots of ways to tackle this problem. Some more technical than the average user would use (aka setting up your own virtual machine for secure browsing). Long story short - just use two different browsers, and make sure both have the latest security updates and security add-ons.
by goodbishop
Mon Dec 16, 2013 8:46 pm
Forum: Personal Consumer Issues
Topic: Life after Windows XP?
Replies: 119
Views: 13309

Re: Life after Windows XP?

A while ago, we had a discussion that Microsoft will stop supporting Windows XP. At that time, I was too busy even to think about a major change. But now, I am starting to organize my home technology. I have some questions about Windows: 1. Do I have to buy a new Windows OS, or it's a free upgrade? 2. People seem unhappy with Windows 8 and recommend using Windows 7. Please confirm. 3. If I have MS Office installed on a Windows XP computer, will it work after I upgrade to Windows 7 (8)? 4. Is there anything I have to watch out for when upgrading from XP? Thank you, Victoria 1. You have to buy a new Windows OS. 2. I have both Windows 8 and Windows 7. I kinda like 7 more, although you can set 8 to look like 7 with some configuring. 3. Yes, un...
by goodbishop
Sun Dec 15, 2013 10:21 pm
Forum: Personal Consumer Issues
Topic: What's your definition of "drive it into the ground?"
Replies: 50
Views: 7199

Re: What's your definition of "drive it into the ground?"

Mine might not be as good - had my Focus for 11 years and 100k miles... it's time for me to get a new car.
by goodbishop
Sun Dec 15, 2013 10:18 pm
Forum: Personal Consumer Issues
Topic: Good book for gift to high school senior?
Replies: 31
Views: 6231

Re: Good book for gift to high school senior?

Oh The Places You Will Go - Dr. Seuss.

I still have mine. It has different meanings for me at different stages at life.
by goodbishop
Sun Nov 17, 2013 7:31 am
Forum: Personal Consumer Issues
Topic: Acura RDX or BMW X3?‏
Replies: 34
Views: 15258

Re: Acura RDX or BMW X3?‏

I'm loving this topic since I just looked at both a Acura RDX and a Honda CR-V EX-L, both AWD and excellent packages. I'm interested to hear what folks think about the RDX.
by goodbishop
Thu Nov 14, 2013 8:20 pm
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Re: Help with IRA question...

Yep, I did walk through form 8606 first before doing so, plus reading the info on the IRS site.
by goodbishop
Sun Nov 10, 2013 6:58 am
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Re: Help with IRA question...

OK, trad. IRA opened for wife, money sent it, waiting for it to post so I can convert it.

Papers requested to transfer trad. IRA (him) to 401k.

One question. If I have 28k in trad. IRA from Jan to Nov., then move it to 401k in Nov., making a 0 balance in the trad. IRA, then adding 5.5k to the trad. IRA in Dec, and then convert that 5.5k to a Roth in mid-December - would I run into any issues with having the 28k be added as the full taxable amount?
by goodbishop
Sun Oct 27, 2013 7:48 pm
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Re: Help with IRA question...

One other note - my 401k is invested 100% in the target funds from Vanguard - the Target 2040 fund. I'm OK with that, and with transferring my trad. IRA to my 401k for that.
by goodbishop
Sun Oct 27, 2013 7:44 pm
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Re: Help with IRA question...

OK, so I'm in the process of getting the paperwork ready for transfer of my Trad. IRA to my 401k.

Plus, I'm in the process of figuring out with Vanguard for the trad. IRA to roth IRA conversion for my wife.

My question though is the following - What happens if I transfer the 28k in my trad. IRA to my 401k. Am I then allowed a week later to contribute 5.5k to my trad. IRA for 2013, and then a few days after that, convert that 5.5k to my roth IRA? Or, because I did a transfer, am I prohibited to contribute to my trad. IRA and convert it?

Also, do I then have to pay taxes on the 28k for the trad. IRA to 401k transfer, or is it just on the 5.5k conversion?
by goodbishop
Thu Oct 17, 2013 9:39 pm
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Re: Help with IRA question...

My other thought was, there are potentially years upcoming where she and I would earn less (say she went to work part time, and I started a business). Would it make sense then to contribute to the traditional IRAs now, and then convert some or part of the traditional IRA to a Roth IRA in those years where she and I would make less (and thus be taxed less than this year)?
by goodbishop
Thu Oct 17, 2013 9:25 pm
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Re: Help with IRA question...

Hmmm, would I then have to file form 8606 until the end of time to the IRS?
by goodbishop
Thu Oct 17, 2013 12:51 pm
Forum: Personal Consumer Issues
Topic: LinkedIn strategy?
Replies: 51
Views: 7300

Re: LinkedIn strategy?

I have 700 contacts on Linkedin, and my goal is to get 3000! I believe in having a strong network, and Linkedin is a big help with that.

I generally accept most requests if the person seems like a reasonable person, but of course there are the few wackos I decline. :)
by goodbishop
Thu Oct 17, 2013 12:16 pm
Forum: Personal Consumer Issues
Topic: Credit card information continues to be stolen
Replies: 39
Views: 5372

Re: Credit card information continues to be stolen

I'm looking forward to the EMV chip-enabled credit cards reducing in-person fraud here in the US, as it has done in Europe.

(I work in IT security, and one of my areas of focus is credit card security - it's good times).
by goodbishop
Thu Oct 17, 2013 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: Giving notice...how much time?
Replies: 55
Views: 6663

Re: Giving notice...how much time?

I would suggest waiting until you have the bonus in hand, then give at the very minimum 2 weeks notice, and more if you decide that more is required.
by goodbishop
Thu Oct 17, 2013 11:26 am
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Re: Help with IRA question...

No, both of the 401ks are normal 401ks, not roth 401ks.
by goodbishop
Thu Oct 17, 2013 10:56 am
Forum: Personal Investments
Topic: Help with IRA question...
Replies: 15
Views: 1778

Help with IRA question...

Hi folks, You guys helped me out last year with a similar question, but now I've got another issue. Essentially, I would like to make a contribution to a IRA, but it is a bit of a tricky situation this year. I'm trying to decide whether or not to contribute to a traditional IRA for myself and my wife, or contribute to a traditional IRA and then roll it over into a roth IRA. So here are the facts: Age for both of us - 33 Income between myself and my wife = ~300k We max out both our 401ks at work = 17.5k + 17.5k = -35k to our AGI Minus 5k for daycare and 1k for health care pretax stuff = -6k Giving me a rough estimate of 259k for AGI Now looking at the contribution limits for a Roth IRA - we're above the limit to contribute, which is I believ...
by goodbishop
Sat Sep 14, 2013 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: Take $30,000 pension payout or wait for structured payouts?
Replies: 5
Views: 1449

Re: Take $30,000 pension payout or wait for structured payou

Hi all! I used to post at the old Bogleheads forums on Morningstar about 12 years ago (time flies, lol!), but have just registered for this one. I haven't needed or wanted much investment advice in the interim, as I simply invest all our retirement dollars into Target Retirement funds via a Roth IRA...not real complicated. That said, I have been scratching my head on this one for a few days and would appreciate any advice from those who spend more time thinking about these issues than do I! I was a high school counselor for 8 years, and I belonged to a Teacher Retirement Fund (essentially a pension) whereby I made was forced to make structured contributions every month, which were then matched by my employer and managed by the fund. I ende...
by goodbishop
Sat Sep 14, 2013 11:33 pm
Forum: Personal Finance (Not Investing)
Topic: Got fired earlier this week, now the boss wants me back
Replies: 123
Views: 20540

Re: Got fired earlier this week, now the boss wants me back

I've worked in a solo physician medical practice for three years as a physician assistant (PA). The first two years went very well, the last year not so much - lots of staff turnover, new electronic medical records system and billing system, and my supervising physician is expanding the number of clinics he owns (very expensive process). The clinics are staffed by full-time PAs who have their own patient schedules, and he rotates through each office once or twice a week to see patients as well. He has counseled me several times over the years on administrative issues such as charts not getting signed off in a timely manner, and occasionally running late as I tend to talk with patients (this is frequently reported to my supervising physicia...
by goodbishop
Sat Sep 14, 2013 11:26 pm
Forum: Personal Consumer Issues
Topic: Android Tablet
Replies: 42
Views: 5475

Re: Android Tablet

0cean23 wrote:Thank you for the link with the comparison between the nexus and Samsung tablet. That was very helpful.

As for Androids latest OS, jelly bean, do I need an app like advance task killer to kill apps running inmate background? My impression with android devices is that the battery doesn't last too long and kill all the apps running in the background helps improve the battery. Is this true?
No. Initially this was the case, but nowadays you do not need ATK, and it actually can cause more problems then it solves.
by goodbishop
Wed Sep 11, 2013 9:46 pm
Forum: Personal Consumer Issues
Topic: Seeking secure way of sending personal data email / fax?
Replies: 23
Views: 4245

Re: Seeking secure way of sending personal data email / fax?

I would suggest getting a program such as 7-Zip, and scanning the info, PDFing it, putting that pdf in a zip file, and then encrypting it using AES256. Then calling the person out of band and letting them know the password.

But that's just me.
by goodbishop
Wed Sep 11, 2013 9:29 pm
Forum: Personal Consumer Issues
Topic: Android Tablet
Replies: 42
Views: 5475

Re: Android Tablet

Definitely go with the new Nexus 7. It will always have the latest OS from Google quickly. Plus I believe the new Nexus 7 has better specs.

In this situation, it is better to go with the stock android experience rather than a custom one.
by goodbishop
Wed Sep 11, 2013 9:56 am
Forum: Personal Finance (Not Investing)
Topic: New baby: Do I need a will?
Replies: 43
Views: 4635

Re: New baby: Do I need a will?

I just had a will done - my wife and I have a 15 month old. I feel glad that at least now I am prepared (it's a Boy Scout thing).

All my stuff goes to her if I die, and vice versa. It also details what happens to my son if a calamity occurs and both my wife and I die at the same time. It's good stuff.
by goodbishop
Tue Sep 10, 2013 9:35 pm
Forum: Personal Consumer Issues
Topic: How Much Did You Spend on Your Engagement Ring??
Replies: 289
Views: 41468

Re: How Much Did You Spend on Your Engagement Ring??

The wife is a doctor, so I kinda wanted to get her something nice. With a bit of bling. At the time, it was one of the biggest purchases that I had made, second only to my car ($16,000, 2004 Ford Focus). I ended up doing about 3 months worth of research on diamonds, diamond prices, diamond cuts, in store visits - you name it, I learned about it. I was on the quest to get her the perfect stone. For her, that is. I got her a 1.05 F VS1 Solasfera diamond, that had perfect proportions, perfect max on Gemex, and a 9.8 on the ISEE2 machine. Plus it has 10 hearts and arrows, not 8. I tell her it's because I love her more. :) It came in a simple solitare Tiffany style 18k yellow gold ring with a platinum diamond holder with 6 clasps. Very elegant. ...
by goodbishop
Sat Jun 22, 2013 8:55 am
Forum: Investing - Theory, News & General
Topic: 401k and investing in stocks is for idiots -Robert Kiyosaki
Replies: 21
Views: 4660

Re: 401k and investing in stocks is for idiots -Robert Kiyos

I would never pay to read his books. I went to the library to read them. :)
by goodbishop
Sun Nov 04, 2012 7:17 pm
Forum: Personal Consumer Issues
Topic: Confession + POLL: I succumbed to an iPad mini
Replies: 97
Views: 7880

Re: Confession + POLL: I succumbed to an iPad mini

When you compare the iPad mini vs the Nexus 7, the iPad mini has a larger screen (7.9" vs 7"), but the rest of the statistics seem to be in favor of the Nexus 7. http://asia.cnet.com/ipad-mini-vs-nexus-7-galaxy-tab-7-7-and-kindle-fire-hd-62219243.htm <-- for statistics Really, it's the price point. $249 for the 32 GB model of the Nexus 7 vs $429 for the 32 GB model of the iPad mini. Geez. Plus, supposedly on Monday Google was going to announce the 32 GB Nexus 7 as well as a 3G model, but that event was canceled due to the hurricane. I'm going to be getting a Nexus 7 as well as a Nexus 10. I'm Android all the way - the OS just keeps getting better and better. Plus, in other cool news, I won a sweet smartphone the other day that is...
by goodbishop
Sun Oct 28, 2012 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: How much hassle will you endure to save more or earn more??
Replies: 22
Views: 3904

Re: How much hassle will you endure to save more or earn mor

Just wondering how much hassle people will endure to either save more, or earn more. Some examples, and some questions: - People on this board seem to save, by being willing to do things themselves rather than hire them out (recent post about cleaning gutters, etc.). - Not discussed as often on this board is earning more through credit card bonuses, account sign up bonuses, etc. - Also not discussed much on this board are opportunities to get a bump on emergency savings account, etc. Would you move your emergency savings to a different account every year to chase a higher interest rate? What is the decision point? - Spending $200 is worse than the opportunity cost of earning an extra $200? (easier to do the labor that prevents shelling out...
by goodbishop
Sun Oct 28, 2012 12:50 pm
Forum: Personal Consumer Issues
Topic: Confession + POLL: I succumbed to an iPad mini
Replies: 97
Views: 7880

Re: Confession + POLL: I succumbed to an iPad mini

When you compare the iPad mini vs the Nexus 7, the iPad mini has a larger screen (7.9" vs 7"), but the rest of the statistics seem to be in favor of the Nexus 7. http://asia.cnet.com/ipad-mini-vs-nexus-7-galaxy-tab-7-7-and-kindle-fire-hd-62219243.htm <-- for statistics Really, it's the price point. $249 for the 32 GB model of the Nexus 7 vs $429 for the 32 GB model of the iPad mini. Geez. Plus, supposedly on Monday Google was going to announce the 32 GB Nexus 7 as well as a 3G model, but that event was canceled due to the hurricane. I'm going to be getting a Nexus 7 as well as a Nexus 10. I'm Android all the way - the OS just keeps getting better and better. Plus, in other cool news, I won a sweet smartphone the other day that is ...
by goodbishop
Sun Oct 21, 2012 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: jewelry- homeowners or separate policy
Replies: 22
Views: 5030

Re: jewelry- homeowners or separate policy

I have always insured my jewelry( a ring and a necklace) as a separate rider on my homeowners policy. Recently I have learned of a company called Jewelers Mutual that insures these items. I have heard they are a good company and that a benefit of doing it this way is that if you have a claim your homeowners policy won't go up. You also don't need new appraisals every time you change insurance companies. The only downside is that they are $76/year more expensive than my homeowners (after getting new appraisals the other day). I have never had a claim in 40 years. What would Bogleheads do? I initially started out with Jewelers Mutual - after a year, I was not impressed. I have my wife's engagement ring (really, the valuable part of the set, ...
by goodbishop
Sun Oct 21, 2012 9:06 pm
Forum: Personal Investments
Topic: If it were YOU...
Replies: 24
Views: 2515

Re: If it were YOU...

I'm not asking that you tell ME what I should do (that's way too much pressure)...only asking what YOU would do if the following information represented YOUR situation: 56 years old Hope to retire in 2 years 1.5 million in investable assets. 300K retirement (401K/IRA) 1.2 taxable very small pension ($160 a month) Expect to begin taking SS at 62 ($1750 a month based on TODAY'S projections) Single No debt Projected expenses: $42K a year (which includes about 1K a month for health care premiums and out-of-pocket costs...but...who knows where health costs are headed) Do not own a home Thanks. Let's see. First, I would sign up for a few dating sites - I'd recommend eHarmony. Maybe meet a few women, and change that Single status to In a Relation...
by goodbishop
Sun Oct 21, 2012 8:58 pm
Forum: Investing - Theory, News & General
Topic: Thoughts on Target-Date Funds...
Replies: 45
Views: 4978

Thoughts on Target-Date Funds...

I recently read that putting money into a Target Date fund (example: Vanguard Target Retirement 2040 Fund (VFORX) ) promotes laziness.

When reading that, I had to agree. It seems like it takes people away from being aware of what the market is doing, and more importantly, it might not be the true asset allocation that you need.

Thoughts? Does putting money into a target date fund promote laziness? Is that OK?
by goodbishop
Sun Oct 14, 2012 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Cash Back Reward Credit Cards
Replies: 55
Views: 11809

Re: Cash Back Reward Credit Cards

I personally use the following:

Fidelity Amex - 2% cash back
Fidelity Visa - 1.5% cash back (for those times that no Amex is accepted)
Starwood Amex - essentially 2.3+% cash back for hotels (minimum, most of the time it's 4%+)
PenFed Visa - 5% cash back for gas (.25% otherwise)
Discover More - 5% in rotating categories, then I redeem $20 for a $25 gift card to a store that I would have gone to, making it a 6.25% cash back card
Ameriprise World Elite Mastercard - 1.5% cash back (no annual fee - I got in when it first rolled out). The owner of this card though is changing... who knows what it will end up being.
by goodbishop
Sat Oct 06, 2012 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: paying off mortgage....help
Replies: 50
Views: 5020

Re: paying off mortgage....help

Now this is just me, so take it with a grain of salt, but I personally can't stand being in debt. I would feel like a weight would be off my shoulders if I were to pay off the mortgage early.

On the other hand, if the amount of passive income that you get after taxes with your investments is more than enough to pay for the mortgage, then do that.

I'm looking at paying my mortgage off early too - maybe in 7-8 years instead of 28. That's the plan.
by goodbishop
Wed Oct 03, 2012 6:10 am
Forum: Personal Finance (Not Investing)
Topic: Question regarding Roth IRAs
Replies: 13
Views: 2405

Re: Question regarding Roth IRAs

I have to sigh. I typed up all the calculations and sent it off to my wife, with a "We can invest 5k each in our Roth IRAs this year".

She said her eyes glazed over and she deleted the email.

:oops:

:oops: :oops: :oops: