Search found 120 matches

by b4nash
Mon Sep 17, 2018 10:18 am
Forum: Personal Consumer Issues
Topic: $180 IPhone SE or $90 Iphone 5S
Replies: 33
Views: 2107

Re: $180 IPhone SE or $90 Iphone 5S

If you plan on using it for more than a year, I'd go SE.
by b4nash
Fri Apr 13, 2018 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: Crazy to start 529 without kids??
Replies: 49
Views: 3991

Re: Crazy to start 529 without kids??

I started a 529 account without kids several years ago while I was single. I fund it every year up to the amount I can deduct on my state income taxes, after maxing out my 401K, Roth IRA, and HSA.
by b4nash
Wed Mar 28, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Pay Off Mortgage with Windfall?
Replies: 57
Views: 6343

Re: Pay Off Mortgage with Windfall?

I side with paying it off. Get that mortgage monkey off your back and increase your free cash flow. :D
by b4nash
Mon Mar 12, 2018 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

FYI - I thought this graph was a good reminder of how even 10% can be a worthwhile goal for many.

Image
Source: https://fred.stlouisfed.org/series/PSAVERT
by b4nash
Wed Mar 07, 2018 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

There's probably some minimum beyond which I would not be comfortable long term. I like contributing to retirement accounts because otherwise I think I am leaving too much tax money on the table, so if I couldn't do that I would need to restructure my income or expenses somewhat. But I've never bee...
by b4nash
Wed Mar 07, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

thangngo wrote:
Wed Mar 07, 2018 2:10 pm
There's no easy rule of thumb. We must encourage people to think and plan for their future. Make progress, measure progress, and run towards that finish line.
Completely agree - I was just interested to see if you had a better rule of thumb for % savings. Thanks!
by b4nash
Wed Mar 07, 2018 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

KlangFool wrote:
Wed Mar 07, 2018 1:58 pm

My rule of thumb

Save X% of your current annual expense or retirement expense in order to reach your FI/Retirement goal in Y number of years.

X and Y are dependent on your individual circumstances.

KlangFool
Great start but that's not a rule of thumb or even a calculation.
by b4nash
Wed Mar 07, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

thangngo wrote:
Wed Mar 07, 2018 1:56 pm
Well according to this "marginal tax rate" saving benchmark, my wife and I should save 24%, yet we do 50%... so yeah, did we win any prize?

Like Klangfool said above: What's your goal?
It's a minimum threshold as a rule of thumb. Please suggest a better rule of thumb.
by b4nash
Wed Mar 07, 2018 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

triceratop wrote:
Wed Mar 07, 2018 1:52 pm

Okay. Well, I still think it's a poor metric, for the reason I stated ;)

People are free to use it, but I think there are better ones, which I will personally suggest.
No problem! What are the better ones?
by b4nash
Wed Mar 07, 2018 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

You missed my point. A rule of thumb like " saving 10% of your gross income " would be a lot better than what OP suggested. KlangFool Previously you said saving 1/3 should be the rule of thumb and now it's 10%. How is saving 10% of your gross income better than starting at 10% and increasing as inc...
by b4nash
Wed Mar 07, 2018 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

It's a poor suggestion because saving more $$ in a 401k/403b/etc or deductible IRA may indeed drop you to a lower marginal tax rate. That alone should be enough to see the folly of using it as a rule of thumb. I know the tendency here is to put tax hats on and start deducting expenses but that is n...
by b4nash
Wed Mar 07, 2018 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

magicrat wrote:
Wed Mar 07, 2018 12:03 pm
So, should I be saving less this year vs. last year due to tax reform? My marginal rate will be going down.
The intent is a minimum threshold.
by b4nash
Wed Mar 07, 2018 9:55 am
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

Geez... Tough crowd this morning. I think it's a pretty good rule of thumb OP. The lowest tax bracket is 10% which is good minimum. Married couples making over 100k should be saving 22%. Then after 300k families should be saving 1/3 (or more). In general, hitting higher saving percentages gets easi...
by b4nash
Wed Mar 07, 2018 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

So if you only earn $40k as a couple then you don’t need to save anything? If you earn $100k 12% is sufficient? Why should lower income families save less? According to the 2018 tax brackets, a couple earning $40k and filing jointly has a top marginal tax rate of 12%. Not if you take into account s...
by b4nash
Wed Mar 07, 2018 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

JBTX wrote:
Wed Mar 07, 2018 9:23 am
So if you only earn $40k as a couple then you don’t need to save anything?

If you earn $100k 12% is sufficient?

Why should lower income families save less?
According to the 2018 tax brackets:

A couple earning $40k and filing jointly has a top marginal tax rate of 12%.

Single @ $100k is 24%.
by b4nash
Wed Mar 07, 2018 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

It seems that the point of my post was not clear, so here it is: a rule of thumb for savings should be related to what you earn in a year. Meaning, the more income you earn, the more you should strive to save.
by b4nash
Wed Mar 07, 2018 9:09 am
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Re: Savings % Goal > Top marginal tax rate?

Easy now. Obviously, this is not for everyone and individual circumstances must be considered. I just think it's potentially a more useful rule of thumb to use as a starting point compared with the standard "save 10%-20%".
by b4nash
Wed Mar 07, 2018 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Savings % Goal > Top marginal tax rate?
Replies: 49
Views: 2813

Savings % Goal > Top marginal tax rate?

A rule of thumb is a principle with broad application that is not intended to be strictly accurate or reliable for every situation. It is an easily learned and easily applied procedure for approximately calculating or recalling some value, or for making some determination. -- As a rule of thumb : Wh...
by b4nash
Thu Jan 25, 2018 2:44 pm
Forum: Investing - Help with Personal Investments
Topic: Roth Ira Contributions - Tax Year 2018
Replies: 5
Views: 408

Re: Roth Ira Contributions - Tax Year 2018

I maxed it out on day one. If I didn't have the money until today, I would invest it all today. As with all things personal finance, it's your personal decision. If you believe in the longterm growth of stocks and are investing this money for the distant future, focus on "time in" the market as oppo...
by b4nash
Thu Jan 11, 2018 1:40 am
Forum: Personal Finance (Not Investing)
Topic: Best HSA (2017)
Replies: 190
Views: 42124

Re: Best HSA (2017)

I recently completed a trustee to trustee transfer from my employer HSA over to Lively (for lower fees) and am pleased. This was my first experience buying ETFs but it was simple. I went with SPTM and SPDW.
by b4nash
Tue Dec 19, 2017 3:26 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 36739

Re: Ally Bank 11 month No Penalty 1.75%

I currently have my emergency fund and house down-payment fund in a single Ally savings account; would you guys recommend putting this into the no penalty CD? Personally, I cannot see a downside. Sure. If you've got over $50,000, consider splitting up the funds into multiple CDs so you aren't force...
by b4nash
Tue Dec 19, 2017 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 36739

Re: Ally Bank 11 month No Penalty 1.75%

No coincidence they waited until 11 days since the last increase. I accept their challenge and will close and re-open my CDs. 8-)
by b4nash
Fri Dec 08, 2017 5:48 pm
Forum: Investing - Theory, News & General
Topic: Is HSA Bank + TD Ameritrade still the best HSA choice?
Replies: 81
Views: 16772

Re: Is HSA Bank + TD Ameritrade still the best HSA choice?

Does TD Ameritrade through Lively offer retirement like index funds (fund of funds that progressively reduces stock exposure)? "With Lively, it’s simple to invest your HSA funds, plus you can leverage a variety of investment options, including individual stocks, bonds, CDs, over 100 commission-free...
by b4nash
Fri Dec 08, 2017 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 36739

Re: Ally Bank raises 11 month ($25k min) No Penalty CD from 1.5% to 1.6%

bikechuck wrote:
Fri Dec 08, 2017 4:20 pm
For the philosophers in the house ... in pondering this question am I being lazy or am I placing an appropriate high value on my time?
Well, I estimate the opportunity cost to be low considering you are already spending time browsing an internet forum of (mostly) amateur investors. :D
by b4nash
Fri Dec 08, 2017 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank 11 month [No-Penalty CD]
Replies: 382
Views: 36739

Re: Ally Raises 11 month $25k min No Penalty CD from 1.5% to 1.6%

FYI - I closed my two existing 11 month no penalty CDs created back in September and opened new accounts at the new rate. The process is simple if you have an existing savings or checking account at Ally. Took 8 minutes because I had to log out between opening accounts as it seemed to think I still ...
by b4nash
Wed Nov 29, 2017 10:37 pm
Forum: Personal Consumer Issues
Topic: Any websites to help find a great doctor?
Replies: 36
Views: 3260

Re: Any websites to help find a great doctor?

This site from CMS will be increasingly useful to compare providers (based on performance scores from quality reporting).

https://www.medicare.gov/physiciancompare/
by b4nash
Wed Nov 29, 2017 10:27 pm
Forum: Personal Finance (Not Investing)
Topic: Best HSA custodian for my situation
Replies: 13
Views: 1823

Re: Best HSA custodian for my situation

Could also consider Lively, also at $30/year if you are investing.

viewtopic.php?t=228522
by b4nash
Fri Nov 17, 2017 6:13 pm
Forum: Personal Finance (Not Investing)
Topic: New HSA provider Lively offers investments for $30/yr fee
Replies: 261
Views: 39819

Re: New HSA provider Lively offers investments for $30/yr fee

In retrospect, I'm not sure why mine sailed through with everything frozen. Could be that Lively added new measures for identity check. It's not unusual for things to change quickly at startups. FYI - Opened my account today and the only identity check was a few demographic questions. All 3 credit ...
by b4nash
Thu Nov 16, 2017 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: New HSA provider Lively offers investments for $30/yr fee
Replies: 261
Views: 39819

Re: New HSA provider Lively offers investments for $30/yr fee

Where do you find that language? It is not in my Lively HSA agreement nor my Choice Financial Terms and Conditions. I generally don't have any issues with arbitration agreements, but the specifics matter, and I didn't recall reading that. Terms & Conditions found on the Sign Up page: https://lively...
by b4nash
Thu Nov 16, 2017 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Christmas Vacation on a budget
Replies: 16
Views: 2104

Re: Christmas Vacation on a budget

If you are flexible, your best bet is to take the vacation a couple weeks before or after Christmas.

If not, traveling on the holidays (e.g., Christmas Day and New Year's Eve) often yields lower flight costs.
by b4nash
Thu Nov 16, 2017 12:50 pm
Forum: Investing - Help with Personal Investments
Topic: reached 54K IRS limit, now will miss employer match, what to do
Replies: 19
Views: 1463

Re: reached 54K IRS limit, now will miss employer match, what to do

I'm still extremely confused. The IRS limit is for employee Contributions $18,000 that's black and white. It doesn't matter if it's 1% of your salary or 99% the limit of $18,000 has always seemed pretty firm. How are you getting around this? Honest question here, by the way. There's also catch up c...
by b4nash
Thu Nov 16, 2017 11:29 am
Forum: Personal Finance (Not Investing)
Topic: New HSA provider Lively offers investments for $30/yr fee
Replies: 261
Views: 39819

Re: New HSA provider Lively offers investments for $30/yr fee

8.6 30-Day Right to Opt Out. You have the right to opt out of the provisions of this Arbitration Agreement by sending a timely written notice of your decision to opt out to the following address: Lively, Inc. c/o/ Legal, 188 King St., #502, St., San Francisco, CA 94107, support@livelyme.com within ...
by b4nash
Thu Apr 06, 2017 9:43 pm
Forum: Personal Consumer Issues
Topic: use of facebook app on apple I-phone
Replies: 16
Views: 1331

Re: use of facebook app on apple I-phone

1. Open Safari 2. Go to Facebook.com 3. On the bottom menu, tap the Share button (up arrow) 4. Swipe across the icons on the bottom row and tap "Add to Home Screen" Bonus: Hold down the refresh arrow in the URL bar of Safari and tap "Request Desktop Site". Now you can access Facebook messages withou...
by b4nash
Fri Jan 27, 2017 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Best CC for Travel
Replies: 82
Views: 10904

Re: Best CC for Travel

I don't think we have enough information to determine the right card. There's some good cards discussed, but it's just that - a bunch of good cards (and a few mediocre in there). As a few others have mentioned, we really need to know - 1. Can your wife pick an airline or hotel chain typically? 2. H...
by b4nash
Wed Jan 25, 2017 8:54 pm
Forum: Investing - Help with Personal Investments
Topic: Maxing out investment vehicles
Replies: 5
Views: 1008

Re: Maxing out investment vehicles

Hello fellow Michigander. Any debts to take care of? What are your goals?
by b4nash
Wed Jan 25, 2017 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Best CC for Travel
Replies: 82
Views: 10904

Re: Best CC for Travel

I'd stick with a cash back card. Who knows if she will actually travel that often and like the job enough to stay. I have been traveling for 3.5 years and the turnover is amazing.
by b4nash
Wed Jan 25, 2017 7:16 pm
Forum: Personal Consumer Issues
Topic: iPhone: Are Apple Maps as good as Google Maps?
Replies: 30
Views: 4144

Re: iPhone: Are Apple Maps as good as Google Maps?

Apple Maps is improving but lacks the lane guidance of Google Maps and has less public transit data. Waze for congested times.
by b4nash
Thu Sep 15, 2016 1:10 pm
Forum: Investing - Help with Personal Investments
Topic: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!
Replies: 29
Views: 2453

Re: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!

I have 13K to play with, so thought of buying 10k for the 500 index and 3K for the Bond fund. The 500 index has an expense ratio of .09, and bond fund has .15. Once I accrue more money I figure I can buy into the premium funds which have a lower ER. Does this seem like a reasonable solution to bypa...
by b4nash
Thu Sep 15, 2016 11:56 am
Forum: Investing - Help with Personal Investments
Topic: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!
Replies: 29
Views: 2453

Re: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!

JB2013 wrote:And when you say "if you never change it, you will do fine", does staying in a target fund make much sense considering the amount you could save by staying with an index fund considering the ER?
Ah that one is completely up to you. :wink:
by b4nash
Thu Sep 15, 2016 11:52 am
Forum: Investing - Help with Personal Investments
Topic: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!
Replies: 29
Views: 2453

Re: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!

Let's say I want the 500 index and the bond index fund and I want 80% for the 500 index, and 20% for the bond index. If I contribute $100 to my Roth, I would want $80 to go towards the 500 index and $20 to the Bond Index. Is that the way I can set it up where I have them distributed that way? I did...
by b4nash
Thu Sep 15, 2016 11:23 am
Forum: Investing - Help with Personal Investments
Topic: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!
Replies: 29
Views: 2453

Re: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!

So which would make more sense: 100% Fidelity 500 Index Premium (ER .04). Stay with this until I hit 20K until I can add the Fidelity Index Bond which is 10K minimum or 80% Fidelity 500 Index Investor (ER .09%) and 20% Fidelity U.S. Bond Index Fund (ER .05%). Then purchase the 500 Index Premium fun...
by b4nash
Thu Sep 15, 2016 11:00 am
Forum: Investing - Help with Personal Investments
Topic: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!
Replies: 29
Views: 2453

Re: First post. 31 yr old with two Roths, 401K, and 403B. Some help please!

For anyone with retirement assets <$100,000 I recommend choosing a low-cost (<0.20% expense ratio) Target Date fund (e.g., Fidelity Freedom® Index 20XX Fund, Vanguard Target Retirement 20XX Fund) that matches your risk tolerance for all of your accounts. Why? - Simple - Gives you time to focus on yo...
by b4nash
Tue Jul 05, 2016 10:26 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Go After American Airlines?
Replies: 45
Views: 5633

Re: Should I Go After American Airlines?

The first agent should have confirmed that you wished to cancel the ticket. I am surprised that if you supplied an email address at time of reservation, an email was not sent to notify of the cancellation. It is difficult when it comes to he said, she said. Maybe they have a recording but who knows ...
by b4nash
Tue Jul 05, 2016 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Go After American Airlines?
Replies: 45
Views: 5633

Re: Should I Go After American Airlines?

...I called AA and inquired about possibility of returning one of the tickets...
Is "one of the tickets" what you said? How would they have known which passenger's ticket to cancel? :shock:
by b4nash
Tue Apr 19, 2016 10:05 pm
Forum: Investing - Help with Personal Investments
Topic: Michigan or Vanguard 529 plan for my three kids
Replies: 6
Views: 1080

Re: Michigan or Vanguard 529 plan for my three kids

quietgrit wrote:Would there be any good reason not to rollover the Coverdell ESA's into the MESP 529?
If you were planning on using the ESA money for qualified elementary or secondary education expenses.
by b4nash
Tue Apr 19, 2016 8:03 am
Forum: Investing - Help with Personal Investments
Topic: Michigan or Vanguard 529 plan for my three kids
Replies: 6
Views: 1080

Re: Michigan or Vanguard 529 plan for my three kids

Sounds like you have done your research. I am in a similar boat - Michigan resident with retirement accounts at Vanguard and a 529 with MESP. Being single without kids (yet), I plop in $5,000 in January to claim my maximum state tax deduction, ~$200, and am done for the year. I have had the 529 for ...
by b4nash
Fri Mar 04, 2016 10:35 pm
Forum: Investing - Theory, News & General
Topic: Planet Money Podcast on Indexing
Replies: 14
Views: 2973

Re: Planet Money Podcast on Indexing

Thanks for the heads up!
by b4nash
Fri Feb 05, 2016 12:37 pm
Forum: Personal Finance (Not Investing)
Topic: Filing taxes for free in 2016
Replies: 20
Views: 2092

Re: Filing taxes for free in 2016

Anyone tried these guys? I saw them listed on Michigan's eFile page.

https://www.freetax.com/

https://www.freetax.com/privacy-statement.aspx