Search found 146 matches

by jojay
Sat Jun 03, 2023 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: Buy or walk away at end of lease scenario
Replies: 7
Views: 1174

Buy or walk away at end of lease scenario

Hi, Could we please ask for some feedback to ensure we are thinking straight? In Oct, 2020, we leased a Mercedes C300 for 3 years and 36,000 miles. The lease is due to end in October 2023. We are well aware that leasing is a very bad way to "own" a car but we did it as a retirement present for ourselves and spouse's overcoming of cancer. It was a treat that we denied ourselves for 40 years. We owned all of our prior vehicles ( Camry, Forrester, etc ) for more than a decade and up to !80k miles in 2 instances. Our lives have changed and we'd like the spouse to drive a nice car; not a slightly dented but perfectly usable Camry anymore. The original sticker on the MB was about $53k. We have been paying $660 per month since we acquire...
by jojay
Fri Nov 25, 2022 8:40 am
Forum: Personal Finance (Not Investing)
Topic: [Property tax deduction] Tax question
Replies: 5
Views: 627

Claiming taxes for 2 properties

Hi and Happy Thanksgiving.
This post is about the latitude of claiming the mortgage insurance and property taxes for 2 properties.
My friend owns his house outright but pays approx. $8k in properties tax in NH. When he files his taxes, he is better off claiming the standard deduction.
He is also on a mortgage with his partner on a property in FL on which they pay $7k in property tax.

Is he allowed to claim the property tax on both properties when he files his 2022 taxes?

Thanks.
by jojay
Thu Nov 24, 2022 10:58 am
Forum: Personal Finance (Not Investing)
Topic: [Property tax deduction] Tax question
Replies: 5
Views: 627

[Property tax deduction] Tax question

Hi and Happy Thanksgiving.
This post is about the latitude of claiming the mortgage insurance and property taxes for 2 properties.
My friend owns his house outright but pays approx. $8k in properties tax in NH. When he files his taxes, he is better off claiming the standard deduction.
He is also on a mortgage with his partner on a property in FL on which they pay $7k in property tax.

Is he allowed to claim the property tax on both properties when he files his 2022 taxes?

Thanks.

[Title edited for clarification. Subsequent post on same topic merged. —moderator Kendall]
by jojay
Thu Sep 29, 2022 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: $401k Loan vs Personal Line of Credit (Auto Financing)
Replies: 29
Views: 2425

Re: $401k Loan vs Personal Line of Credit (Auto Financing)

Didn't see this mentioned yet so:
If you leave your employer before the 401k loan is paid off, you may be obligated to pay off the loan as part of your separation. If you cannot pay it off within a specified time after separation, the loan can be considered as income and you need to allocate for that.

A line of credit allows you to control how the money gets spent. You could use as a buoy of sorts if you need to get access to cash only when you need it.
by jojay
Mon Jul 25, 2022 3:34 pm
Forum: Personal Consumer Issues
Topic: Is AAA membership worth it?
Replies: 197
Views: 27424

Re: Is AAA membership worth it?

Definitely worth the money.
It is about 25 cents per day. Cheap insurance to cover a problem you hope to never get, but maybe....
by jojay
Fri Nov 12, 2021 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: When/How Did You Get Things on Auto-Pilot and Stop Worrying about the Spreadsheet/Early Retirement
Replies: 89
Views: 10528

Re: When/How Did You Get Things on Auto-Pilot and Stop Worrying about the Spreadsheet/Early Retirement

Hi, Congrats on your progress thus far. Some comments: If your student loan debt is high interest, consider paying it off but also keep in mind you may get some government relief at some point. Not the $50k each some espouse, but there will likely be some relief. Kids cost a lot of money. Your expenses will be going up as the kids get older. A $10 game like Connect 4 will become a $1000 high end media experience soon enough. Worrying about the NYT or Chipotle might be an indication that you do not have faith in your budgeting. If you fret over $4, perhaps ask yourself why. Go on a "test run" for a few months and see where you end up. If meh, then relax. Just keep an eye out for big expenses and plan for them, not the little ones. ...
by jojay
Wed Oct 20, 2021 9:32 am
Forum: Personal Finance (Not Investing)
Topic: Social security death benefit
Replies: 4
Views: 933

Social security death benefit

A few years ago, a friend's wife passed away at 63. She never filed for social security. Her FRA date is January 2022.
Her widow is now retiring and will be age 60 in March 2022. He has never filed a death benefit claim for a portion of his wife's SS.

Is he entitled to any spousal death benefit?

Thank you.
by jojay
Thu Jun 10, 2021 6:22 am
Forum: Personal Finance (Not Investing)
Topic: Selling a car in the pandemic: test drives
Replies: 36
Views: 3799

Re: Selling a car in the pandemic: test drives

Hi,
I recently sold my 2007 Highlander to Carvana.
The suggested price shown in KBB were about $3300 for a private sale. Carvana gave us $2700. Absolutely zero hassle, no test drives, they came and picked it up and gave me the check. I had done everything online.
Did I lose out on a couple of hundred? I suppose so but I also lost ALL of the hassle.
by jojay
Fri Dec 11, 2020 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: medicare without supplement
Replies: 47
Views: 5377

Re: medicare without supplement

OP
We are in similar positions.

Congratulations on being healthy. Keep it going.
The supplement is an insurance plan. Like all insurances, let's hope you don't need to use it. If you have been fortunate enough to not have had a vehicle accident, you would still keep auto insurance, I assume?

I'm guessing that you are also in health with regard to your finances and budgeted what your insurance costs were likely be when you got to this point. You've won!
I fell of a step ladder last year. It had nothing to do with my health.
by jojay
Fri Dec 11, 2020 10:23 am
Forum: Personal Finance (Not Investing)
Topic: Anyone "save" anything other than money for retirement?
Replies: 47
Views: 6112

Re: Anyone "save" anything other than money for retirement?

Razor blades.
Had signed up to be a test shaver in 1995 for a national brand - can't mention them.
They send me blades for my feedback. New product testing and ongoing quality examination. The blades were intended to be used for two weeks. I fill out a form online - 30 seconds - and send the blade back with the provided envelope. Have not purchased a blade since.

Over the years, the company says thank you by sending extra blades, extra razors, etc.
I currently have 144 blades in the original packaging. That's 288 weeks or five years of blades. Perhaps longer with my new pandemic, retirement shaving habits. In the meantime, still a tester.
Fun post. Thanks for starting it.
by jojay
Tue Nov 17, 2020 7:48 am
Forum: Personal Investments
Topic: Edward Jones Fees
Replies: 37
Views: 10378

Re: Edward Jones Fees

I have had an account with EJ for sometime - mid six figures mostly in an IRA. I also have a brokerage acct at VG comprised of mutual funds. I am charged a yearly custodial fee for EJ account. I am not aware of any other fees. Would this be better moved to VG. Your thoughts. please. Thanks in advance for your comments. This is one of the ways that EJ makes money - not providing complete transparency on their fees. EJ has successfully created methods - including advice - which are designed to make money from your money without really caring about how much money you make from your money. As many have listed here, even EJ's description of fees does not allow you to see the fees. Between asterisks, footnoted, marketing language etc., EJ is gre...
by jojay
Wed Nov 11, 2020 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Risk tolerance plummeted to zero, now what?
Replies: 32
Views: 3663

Re: Risk tolerance plummeted to zero, now what?

:sharebeer
000 wrote: Wed Nov 11, 2020 1:43 pm Paying off the home mortgage seems like a slam dunk for the risk averse rather than holding a mortgage and bonds.
by jojay
Thu Oct 15, 2020 7:32 am
Forum: Investing - Theory, News & General
Topic: How do Bogleheads cope with not beating the market?
Replies: 142
Views: 13588

Re: How do Bogleheads cope with not beating the market?

I cope with not beating the market by not competing with it. I look at investing as a means to achieve my goals - the market is simply a tool. It's like a saw or a rake - something I need in order to get the job done.
by jojay
Thu Jul 23, 2020 8:34 am
Forum: Personal Consumer Issues
Topic: Mosquitos! Mosquitos! Mosquitos!
Replies: 139
Views: 16861

Re: Mosquitos! Mosquitos! Mosquitos!

We are in a woodsy area of southern NH. Although neighbor are 50 plus yards away, our and their yards are in the midst of mosquito central. Going to shady areas even in late morning could generate a swarm and forget about being outside when the trees block the sun after 4pm or so. For the third consecutive year, we now get sprayed by a local mosquito service. Their 6 visits cost about $350. They spray under the shrubs and all around the edges to the woods. Rating of 4 out of 5 for mosquito control. Sounds decent but with 58,000,000,000 in the area, we still got bit. Neighbors also have their yards sprayed. Last year, we used Spartan Mosquito Eradicators and they worked very well although we did not deploy them until after mid June which is ...
by jojay
Sun Jul 19, 2020 3:35 pm
Forum: Personal Consumer Issues
Topic: Cut cable experience
Replies: 34
Views: 3232

Re: Cut cable experience

Hi, OP posting. Thanks for replying and to ladygeek for correctly positioning the post. 15. There are likely many, many alternatives to what we are doing and we will pursue them with the dogged efforts of a yankee boglehead. For now though, we are just getting out of the nest. 16. We now have hulu. We also get hulu for free from Sprint - thanks for bringing that up; yet another implicit savings. We had and kept Prime and Netflix. We lost the NHL and NFL channels but still have MLB. We no longer have HBO but can buy it if we want. Right now we are not missing anything. 17. I wish I could get 100 mbps for $55 but it is what it is. 18. Ditto on the ease to add / drop programming. Plus, youtubetv allows us to modify the channels they offer so a...
by jojay
Sun Jul 19, 2020 11:29 am
Forum: Personal Consumer Issues
Topic: Cut cable experience
Replies: 34
Views: 3232

Cut cable experience

Hi, Getting rid of cable had always been on our list of things to do - and we recently did it. Just thought I'd share our experience. 1. Where we live has no cable competition. 2. We had many of the bells and whistles as part of our "triple play" plan which included cable, internet and phone. 3. When we added in local sports programming (Bruins and Red Sox), HBO and a couple of other things, our monthly bill was $225 due to a "deal". 4, We leased all of the equipment from the cable provider - about $45 per month included in the $299 after the deal expired 5. Bill recently jumped to $299 / month. Called and got cost down to $257. Still ridiculous but we love the Bruins (and Sox but mostly the Bruins). 5a. As an aside, &qu...
by jojay
Mon Jan 27, 2020 2:53 pm
Forum: Investing - Theory, News & General
Topic: Equity returns over the next 40 years
Replies: 87
Views: 6143

Re: Equity returns over the next 40 years

Completely agree. This topic is important for your people. We could have asked this same question 40-50 years ago for ourselves.Thank goodness someone with some credibility told me to get into the stock market and stay there. The historical market return is just that - historical. Have investing environments changed over 40 years? Will they change over 40 years from now? Your question is valid. I tell my under 30 children and anyone else who will listen that as far as investing options are concerned, the stock market will continue to produce returns - but we do not know how much; the basis of your question. Will it be 6%? 7% 28%. Will future inflation average 2%? 8% If we look at long term investing on comparative investment options though ...
by jojay
Tue Jan 14, 2020 1:50 pm
Forum: Personal Consumer Issues
Topic: Magic Kingdom for a day or fun resort / hotel?
Replies: 56
Views: 4737

Re: Magic Kingdom for a day or fun resort / hotel?

If you and your family are Disney fans, then go to WDW.
If you are not a fan of Disney, you will likely not enjoy the experience. Visiting Disney requires a lot of preparation.
by jojay
Sat Dec 14, 2019 3:48 pm
Forum: Personal Consumer Issues
Topic: Flaunt Your High-Mileage Car
Replies: 945
Views: 151269

Re: Flaunt Your High-Mileage Car

2005 Camry 185000
2007 Highlander 176000

Typical maintenance / repairs on both. Had to put front brakes and replace a caliper a month ago. $520. Average annual maintenance costs are under $1000 or $85 per month. See no reason why they will not keep rolling along. An automotive friend says that as long as nothing major breaks (steering column?), they will just keep running

Vehicles are very inexpensive to insure.
Local excise taxes also low.
In total, very inexpensive vehicles to own.

Neighbors with young children just bought a BMW SUV. Beautiful.
The neighbor on the corner writes off her car on her business. She just leased a 2020 Porsche SUV.
I can't imagine...
by jojay
Sat Dec 14, 2019 3:27 pm
Forum: Personal Consumer Issues
Topic: What to do with old car
Replies: 8
Views: 687

Re: What to do with old car

Donating the vehicle to make a wish or other charities is wonderful.
I had to go to a local trade school recently and saw their automotive program. Your local tech school might want it. You will get the same tax benefit no matter where. Plus, That car might have a lot of life left. They might be able to keep it out of the parts replacement yard.
by jojay
Thu Nov 14, 2019 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Convert Trad to Roth or Not
Replies: 10
Views: 868

Re: Convert Trad to Roth or Not

Longdog; thank you very much.
Stoic9; Based on Longdog"s response, I now understand why you asked the question about where the money to pay the taxes would come from.
I can indeed cover the taxes via other means.

In your opinions, does that dramatically change the perspective?
by jojay
Thu Nov 14, 2019 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Convert Trad to Roth or Not
Replies: 10
Views: 868

Re: Convert Trad to Roth or Not

Stoic9,
Thank you for the quick response.
We were going to use the IRA money to pay the taxes. Withdraw $60k, use $13.2k to pay taxes, then place balance of $46.8k in roth.
by jojay
Thu Nov 14, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Convert Trad to Roth or Not
Replies: 10
Views: 868

Re: Convert Trad to Roth or Not

OP again.
Sorry. Clicked submit prematurely.
2. We also realize that converting to Roth gives us access to a large pool of tax free money in the future IF WE WANT TO.

In my mind ( this is where we need help), why pay uncle Sam 22% now versus holding on to the money and deferring the 22% to 2027? Yes, it is obvious that converting from trad to roth reduces taxable income in the future, but if we are in the 22% tax bracket now and then, what difference does it make?
Thanks for your responses.
by jojay
Thu Nov 14, 2019 8:29 am
Forum: Personal Finance (Not Investing)
Topic: Convert Trad to Roth or Not
Replies: 10
Views: 868

Convert Trad to Roth or Not

Feedback and information would be greatly appreciated. We are trying to discern whether some Trad IRA money should be left in the Trad account or moved to a Roth. We realize future tax laws may change from what they are now. My wife is 61 and I am 64. We both work part time. I plan to stop at the end of 2020. My wife's health issues may keep her working until 65 simply for the free health care her employer provides. As a cancer survivor concerned about its recurrence, maintaining her free, excellent health care is important. We are looking at options though. My question is; should we take money from our trad and move it into roth knowing that the conversion will be taxed at 22% or should we wait until RMDs are required when that money will ...
by jojay
Fri Jun 21, 2019 8:54 am
Forum: Personal Investments
Topic: How did you overcome your fear of investing?
Replies: 33
Views: 3353

Re: How did you overcome your fear of investing?

One more thing, please?
Investing is like learning a language. You can't expect to learn the entire language in a day. Same thing with investing.
A completely unknowledgeable,just starting out young person asked me the other day if I shorted stocks? Hmm. Looking at completing college before getting out of the second grade.
Relax. Learn. Be patient. Treat failures as gained knowledge. Don't even ever try to time the market.
by jojay
Fri Jun 21, 2019 8:18 am
Forum: Personal Investments
Topic: How did you overcome your fear of investing?
Replies: 33
Views: 3353

Re: How did you overcome your fear of investing?

I haven't.

In truth, getting educated is the key. If you understand how the game is played, learn the rules and stay clam, it is a much easier process.
by jojay
Thu Dec 06, 2018 10:03 am
Forum: Personal Investments
Topic: Retirement planning--how many years of cash equiv should I aim to have?
Replies: 16
Views: 2715

Re: Retirement planning--how many years of cash equiv should I aim to have?

Keeping a few months expenses in cash makes sense to me just for simplicity. If you could also have a situation where additional funds will be needed, like for your first seven years of retirement until you start Social Security then having those funds invested in something like a CD ladder also makes sense to me. If you will have a large expense in a few years like buying an RV then keeping that in something like cash also makes sense to me. Other than situations like that when people say something like, "I want to keep three years(or whatever) expenses in cash." The way I look at it is like this; For example in rough numbers you might have this situation; 1) You have a million dollar portfolio. 2) You need $40,000 a year which ...
by jojay
Thu Dec 06, 2018 7:49 am
Forum: Personal Investments
Topic: Retirement planning--how many years of cash equiv should I aim to have?
Replies: 16
Views: 2715

Re: Retirement planning--how many years of cash equiv should I aim to have?

We have 5 years in cash. Yes, that is not the best use of the money. Yes, it reduces our overall return. Yes, it is much longer than any historical recession or market downturn.
However, we do not need a very high rate of return to maintain principle and still grow the portfolio. Our needed annual withdrawal is less than our annual return.
We can sleep at night.
by jojay
Mon Dec 03, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement itch- when did you get it?
Replies: 145
Views: 18701

Re: Retirement itch- when did you get it?

Retirement might get harder for those who are close to satisfying their financial plan. Once you realize you can afford to go, it gets tough going to work. When I was 57, working hard and accomplishing a lot ( in my mind anyway) at work, I realized - especially with the help of my Boston Bogleheads Chapter friends - that I had won the game. I easily had enough to retire. Slowly yet suddenly, my productive and satisfying job became an awful and debilitating experience. Every day was a fight to go to work. Why am I working 50 plus high stress hours per week? Parents both died in their early 60s. Two older brothers died in their 60s. All had bypasses. What am I doing? I hate this place! I hate my line of work!. It was like having an 11-0 lead ...
by jojay
Mon Nov 12, 2018 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: [Financial] Habits of the Rich
Replies: 238
Views: 41457

Re: [Financial] Habits of the Rich

The themes within this thread are awesome. Add one more?
Work your butt off. Even though I made good money doing what I did for a "living", I also worked a part time job for about 15 years of my adult life, arranging things around the family schedule.
Work ethic is a huge factor in getting rich slowly.
by jojay
Mon Oct 01, 2018 7:09 am
Forum: Personal Consumer Issues
Topic: Asphalt driveway replacement
Replies: 21
Views: 2538

Re: Asphalt driveway replacement

We recently (April 2018) redid our 24 year old wavy, cracked and bumpy asphalt driveway similar in design to yours. We have a high water table in the area which contributed to the mess. We are in southern NH. Several people have used the company and loved them Our contractor tore everything out. He compressed the ground, added several layers of crushed stone and then 2 each layers of asphalt totaling 4 inches. We also added a couple of feet of width and length at the garage area for easier parking. Excellent attention to detail. Because the driveway is on a bit of a slope, we had to backfill around some of the edges with loam and grass seed very quickly. It looks great. We will not seal it until next spring. My one suggestion? Make sure you...
by jojay
Fri Sep 07, 2018 2:07 pm
Forum: Personal Investments
Topic: Good place to have a will done
Replies: 6
Views: 890

Re: Good place to have a will done

We just had all of the fundamental estate planning documents done; will; legal proxy, medical proxy, etc.

I was reluctant to spend the expected $2500 documents but their importance is paramount.
I asked a friend who had his will done by a local lawyer who also happens to be involved with town government so we knew his reputation.

First consultation was free so he could learn our desires, assets, etc.

We were thrilled that he quoted us $750 for all of the documents. Two weeks later - done for $750
by jojay
Tue Aug 07, 2018 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: Another CD Ladder Thread
Replies: 27
Views: 3347

Re: Another CD Ladder Thread

We cannot predict the future with regard to rates other than we are in the point of the economic cycle where rates will continue to rise. How much and how often is, of course, unpredictable but they will go up for the short term. Another factor is the demand / supply of CDs in that market. I suspect rates will rise for the next year. As such, I put my money into very short term CDs, not a ladder. I recently revolved cash into a 3 month cd at 1.91% after it had matured at 1.71%. When the current cd matures in early October, I will reroll it at the rate at the time, likely to be close to or slightly above the current rate. If the Fed raises the rates in September, perhaps I can snag 2.1 or something. You can excel this btw. I made some assump...
by jojay
Fri Jun 15, 2018 10:12 am
Forum: Personal Finance (Not Investing)
Topic: RMDs based on 1986 life expectancy versus today?
Replies: 23
Views: 2544

Re: RMDs based on 1986 life expectancy versus today?

Netpilot
I was lazy in calculating those numbers. All I was trying to highlight is that due to advances in medicine and other factors, people can expect to live longer.
Alohajoe,
My point about the tax revenue is that while it does not represent a large portion of the overall budget, it is still added money. More to the point on that topic is that it will reduce personal wealth as perhaps unsuspecting people see an increase in marginal tax rates.
All,
Please keep responding to this discussion.
Thanks
by jojay
Fri Jun 15, 2018 9:40 am
Forum: Personal Finance (Not Investing)
Topic: RMDs based on 1986 life expectancy versus today?
Replies: 23
Views: 2544

RMDs based on 1986 life expectancy versus today?

Just looking for a discussion here. 1. As we know, RMDs are mandated in the year after one turns 70.5. From what I know, this was included as part of the 1986 Tax Reform changes. 2. In 1986, the life expectancy for women was 78 and for men, 71. 3. In 2017, that life expectancy is now 81 and 79, respectively. 4. Baby boomers represent a substantial amount of the population, wealth and are just now fully hitting the RMD stage of their financial lives. 5. I have read articles from the financial industry concerned about what RMDs will do to account holdings, etc. even if people ultimately return money that might be considered excess income back into the financial industry in another form. 6. When I analyze the impact of RMDs when I reach that p...
by jojay
Fri Jun 15, 2018 9:06 am
Forum: Personal Finance (Not Investing)
Topic: RMD Law Alterations?
Replies: 1
Views: 519

RMD Law Alterations?

Just looking for a discussion here. 1. As we know, RMDs are mandated in the year after one turns 70.5. From what I know, this was included as part of the 1986 Tax Reform changes. 2. In 1986, the life expectancy for women was 78 and for men, 71. 3. In 2017, that life expectancy is now 81 and 79. 4. Baby boomers represent a substantial amount of the population, wealth and are just now fully hitting the RMD stage of their financial lives. 5. I have read articles from the financial industry concerned about what RMDs will do to account holdings, etc even if people ultimately return money that might be considered excess income back into the financial industry in another form. 6. When I analyze the impact of RMDs when I reach that point, like many...
by jojay
Thu May 10, 2018 8:01 pm
Forum: Investing - Theory, News & General
Topic: Got a Question for the Experts Panel at the Bogleheads Conference?
Replies: 44
Views: 13404

Re: Got a Question for the Experts Panel at the Bogleheads Conference?

Hi and thanks for asking.
As a teacher of Personal Finance, I have always taught my students that long term financial gain will occur via stock bonds mix. I use the rolling 30 year backtesting to portray the value on investing long term. The students' eyes widen.

However, given algorithmic trading, market insecurity, the internet, geopolitics, etc. are we now in a new set of market structures that invalidate history?
by jojay
Thu Feb 01, 2018 7:44 am
Forum: Personal Consumer Issues
Topic: New or used vehicle for new graduate with job?
Replies: 31
Views: 2482

Re: New or used vehicle for new graduate with job?

First off, congratulations to you and your son. Graduating from college is no small feat especially in civil engineering. The fact that he already has employment is another point worth acknowledging. Our soon to be 23 year old has a BS and will be getting her MS in June so she is in a similar condition. She will be staying local in New England and thus, she needs ( or her parents want ) an AWD vehicle. Our plan was always to "sell" her my 2009 Highlander with 165k miles for her first car. We have discussed that versus other options. She has minimal school debt, accumulated about $11k in savings and has shown remarkable maturity and discipline while in school, working and doing well in both. She wants a new car. Me being frugal say...
by jojay
Wed Jan 31, 2018 1:29 pm
Forum: Personal Consumer Issues
Topic: New or used vehicle for new graduate with job?
Replies: 31
Views: 2482

Re: New or used vehicle for new graduate with job?

First off, congratulations to you and your son. Graduating from college is no small feat especially in civil engineering. The fact that he already has employment is another point worth acknowledging. Our soon to be 23 year old has a BS and will be getting her MS in June so she is in a similar condition. She will be staying local in New England and thus, she needs ( or her parents want ) an AWD vehicle. Our plan was always to "sell" her my 2009 Highlander with 165k miles for her first car. We have discussed that versus other options. She has minimal school debt, accumulated about $11k in savings and has shown remarkable maturity and discipline while in school, working and doing well in both. She wants a new car. Me being frugal say...
by jojay
Wed Jan 31, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: Disney visit
Replies: 28
Views: 5207

Re: Disney visit

We have gone approximately 30 times since the 3 children were very youngand are going again in mid March. We have stayed on property and off. Our typical stay is 2 weeks and most often has been through our timeshare process where we have multiple bedrooms, baths and a full kitchen. You can go to a Publix or WM and pick up a bunch of everyday things you might need while in the area. Bottled water, etc or other items. We typically eat breakfast in the timeshare, have basics like peanut butter, apples, bananas etc for snacks. Dining out does not have to always be restaurant and we will get take outs. Plus, groupons and other consumer offerings take some of the sting out of it. Very few high end dining establishments are available however but i...
by jojay
Fri Jan 19, 2018 8:54 am
Forum: Personal Consumer Issues
Topic: Anyone disenchanted with retirement?
Replies: 326
Views: 57028

Re: Anyone disenchanted with retirement?

Disenchanted? No, three years in and it is still a very, very enchanting lifestyle. Yesterday I: Got up at 615 to see the previous night's beautiful snowfall at sunrise. Never would have seen it while commuting to work in the dark. Read some bogleheads, cnn, looked at email, looked at email from post-retirement, work at part time job ( teach part time at local college). Had a coffee. Made some cinnamon rolls. Went to older daughter's house. Installed baby safety gate for her new puppy, played with the puppy for an hour, "installed" some carbon monoxide detectors, shoveled off a deck and came home. Had lunch, went to school at 3pm to teach a brief class about my career (at $65 / hour), then had to go to a local Innovation event nig...
by jojay
Fri Jan 19, 2018 8:16 am
Forum: Personal Consumer Issues
Topic: Family Balance and Children's Athletics
Replies: 37
Views: 3788

Re: Family Balance and Children's Athletics

The key word in this topic is..."children". I coached my son in hockey for many years. Here are some numbers: Most teams have 15 players per team. Total 30 players not including goalies The games were 36 minutes long which equals 2160 seconds If each player were to touch the puck an equal amount of time, each player would be playing with the puck for 72 seconds. To play the 36 minutes takes about 50 minutes The locker room time to get dressed and undressed is about 30 minutes total The travel time to and from all games averaged about 90 minutes. This would happen 2 to 3 times per week. So, we just spent nearly 9 hours of time so that my child - if one player did not dominate - could touch the puck for 3 plus minutes. Not a good RO...
by jojay
Fri Jan 12, 2018 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: 2018 Retirement Checklist.
Replies: 16
Views: 4007

Re: 2018 Retirement Checklist.

Ditto on the medical. Ask your dentist to max out any work that is needed to take advantage of coverage. Glasses if you have vision coverage.
Max out any retirement contributions in order to reduce income AND assure company match to the max.
Good luck and congratulations!!
by jojay
Sat Jan 06, 2018 5:19 pm
Forum: US Chapters
Topic: DD just got married !
Replies: 39
Views: 5825

Re: DD just got married !

Congratulations.
You are really wonderful parents to do that for your daughter. What a great way for them to start their life together.
by jojay
Thu Jan 04, 2018 12:09 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security at age 62 perhaps?
Replies: 57
Views: 7479

Re: Social Security at age 62 perhaps?

Thanks for the replies so far. I have discussed this with DW and we have some serious discussions and planning to do before making a decision. Several points: 1. We are not trying to maximize the overall payout. As pointed out, there is no way to plan the dates of our deaths. 2. Probably my biggest concern is how taking early SS will effect our tax situation. This is something that requires research and spreadsheet time. I must confess that I know very little about SS. My concerns so far in my adult life has been accumulating assets for retirement, college funding, and other goals. Now, it is time to begin planning for the distribution aspect. 3. The recommendations earlier about converting to ROTH is valid and should be explored. 4. The R...
by jojay
Tue Jan 02, 2018 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement / financial modelling tools
Replies: 6
Views: 1125

Re: Retirement / financial modelling tools

Let's say it is the year 2014 and you are asking these questions before the most recent tax changes were approved. Things change. Firecalc has always been - if I recall - a decent "far off in the future" tool. does it give you the details you are looking for? No. But it does help you prepare to ask those questions later.
At age 50, I would be less focused on the management and withdrawal strategies needed 10 years from now. Things will change. For now, focus on the strategies needed to maximize wealth growth and protection and ask these questions again in 2025.
I laud your desire to get the plan nailed down.
by jojay
Fri Dec 29, 2017 10:46 am
Forum: Personal Consumer Issues
Topic: Plow Guy Raised Rates
Replies: 112
Views: 12624

Re: Plow Guy Raised Rates

Is he doing a good job?
Is he doing more than the prior plow guy did? Less?
Does he come three times per storm versus the prior plower who maybe came once or twice?

Whether he honors the prior owner's price or not, the guy needs to be a more tactful business person.
by jojay
Tue Dec 26, 2017 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Prepaying 2017 real estate taxes
Replies: 4
Views: 752

Re: Prepaying 2017 real estate taxes

I prepaid my next year's property taxes today.
My town allowed it up to the level of the previous tax year.
As far as I can tell, prepayments will be allowed to be included on year ending 2017 federal tax returns. If not, then I prepaid early. No great loss, despite the $9200 utility. If so, I saved myself some pretty good ( for me ) dough.

I then called my bank where I escrow my taxes. Upon sending them a receipt, they offered to return 6 months worth of taxes ($4800 ) to my checking account.

I am trying to not spill over into the next marginal tax bracket. My next decision is whether to convert an additional $9200 from my tIRA to a Roth in order to max the available space freed up by pre-payment of property taxes.
by jojay
Mon Dec 25, 2017 12:17 pm
Forum: Personal Consumer Issues
Topic: What frugal thing did you do today?
Replies: 4536
Views: 625987

Re: What frugal thing did you do today?

I have been a test shaver for a major razor company for nearly 25 years. I have enough blades to last me for several years.
I gave multiple blades to my son today - probably worth $100.
by jojay
Sun Dec 24, 2017 11:27 am
Forum: Personal Investments
Topic: Looking for advice on retirement withdrawals
Replies: 5
Views: 966

Re: Looking for advice on retirement withdrawals

You mention that your standard deduction for 2018 will be 6350.
I believe it might now be 12000