Search found 13761 matches

by Watty
Wed Sep 19, 2018 11:45 pm
Forum: Investing - Help with Personal Investments
Topic: So new to all this it hurts!
Replies: 20
Views: 2252

Re: So new to all this it hurts!

At this point I'm thinking that at 60 yrs old I should be a 50/50 mix of stocks and bonds When figuring out what asset allocation to use I like to look at what asset allocation a target date fund, like a 2020 fund, is using to make sure that I am in the right ballpark. There isn't any one magic rig...
by Watty
Wed Sep 19, 2018 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Home away from home
Replies: 9
Views: 466

Re: Home away from home

People who regularly travel to a second location for work, where do you live? How do you make this lifestyle less stressful? Any tips for making this work? I have never been in that situation but if he does a things like yard work and repairs around the house then you might start doing those when h...
by Watty
Wed Sep 19, 2018 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Another mortgage repayment thread..
Replies: 10
Views: 484

Re: Another mortgage repayment thread..

Whatever you do I would sell enough of those stocks to get down to less than 10% of your portfolio just for diversification. Some people would say 5%. There would be some risk but if waiting until January to get the capital gains on your 2019 tax return would save you a lot of taxes you might wait u...
by Watty
Wed Sep 19, 2018 10:53 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 174
Views: 9473

Re: What is your single most expensive mistake?

I guess my question is, when did self directed accounts become a thing? The rules were changed to allow discount brokers in 1975. I was a teenager then but I can remember my older brother and mom being excited about that since they dabbled in the stock market Schwab was one of the early big discoun...
by Watty
Wed Sep 19, 2018 10:11 pm
Forum: Personal Consumer Issues
Topic: Do Postal Regulations Allow Me to Learn the Identity of the Holder of a POB?
Replies: 6
Views: 558

Re: Do Postal Regulations Allow Me to Learn the Identity of the Holder of a POB?

Have you tried Googling the PO box address, and variations, to see if it might be on the internet somewhere that also lists the owners name?
by Watty
Wed Sep 19, 2018 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?
Replies: 27
Views: 1284

Re: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?

With the 2018 tax code standard deduction, it seems to make a little more sense to do this than before, but it’s still a stretch since we will definitely have a higher taxable income by not sheltering the 401k money. But we kind of don’t care in a way. How much should we care?! Has anyone else made...
by Watty
Wed Sep 19, 2018 9:01 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 174
Views: 9473

Re: What is your single most expensive mistake?

Sold Apple around 1996. Apple had some very "dark years" in the 1990's and again after the dot com bust and there were many times that it was not clear that it would survive. It seems like it was longer ago but the iPhone was only introduced in 2007 and before it took off the future of Apple was fa...
by Watty
Wed Sep 19, 2018 8:35 pm
Forum: Personal Consumer Issues
Topic: What is your single most expensive mistake?
Replies: 174
Views: 9473

Re: What is your single most expensive mistake?

Not sure if it was my most expensive mistake but it was one of the most frustrating and stupid mistakes. I have a normal size car (Elantra) which I park in a 2 car garage. My normal thing is to press the garage door switch as I walk by it, hop in the car, put my snacks/drinks down, seat belt on, st...
by Watty
Wed Sep 19, 2018 8:11 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 22
Views: 1189

Re: Reverse Mortgages - Pros, Cons

Ask him/her to redo the plan without the reverse mortgage. I would leave that as a last resort. +1 One problem with people taking a reverse mortgage when they are relatively young is that it can defer people having to cut back on a lifestyle that they really cannot afford. ??? What if they can affo...
by Watty
Wed Sep 19, 2018 6:24 pm
Forum: Personal Consumer Issues
Topic: Long term stays/vacations
Replies: 11
Views: 1340

Re: Long term stays/vacations

Has anyone traveled like this....staying in a home base....spending time with the locals and occasionally traveling nearby for other sightseeing opportunities? Pros? Cons? I spend six weeks this summer in Montana taking a class. I stayed in a VRBO studio apartment that I got a good rate on after co...
by Watty
Wed Sep 19, 2018 5:51 pm
Forum: Investing - Theory, News & General
Topic: Are unleveraged real estate returns more comparable to stock market returns or just a notch above inflation?
Replies: 28
Views: 817

Re: Are unleveraged real estate returns more comparable to stock market returns or just a notch above inflation?

Real estate itself, viewed broadly (in aggregate, ignoring individual local specific growth/declines), has for the most part matched inflation. https://z822j1x8tde3wuovlgo7ue15-wpengine.netdna-ssl.com/wp-content/uploads/2012/12/housing.png You need to be careful when looking at numbers like that. T...
by Watty
Wed Sep 19, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Traveling overseas .. credit cards? cash exchange?
Replies: 17
Views: 726

Re: Traveling overseas .. credit cards? cash exchange?

One more thing, find out what the daily limit is on your ATM card is and if it is low see if they will raise it. The problem is that if it is something like $300 per business day and you withdraw that much on a Friday then it may be three day before the next $300 is available.
by Watty
Wed Sep 19, 2018 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Traveling overseas .. credit cards? cash exchange?
Replies: 17
Views: 726

Re: Traveling overseas .. credit cards? cash exchange?

Here is the Rick Steves web page for money tips. Even if you are not going to Europe a lot of it will be the same. https://www.ricksteves.com/travel-tips/money I tend to not charge things that lost less than about $75 and just pay those with cash I get from an ATM. I figure that the less I use a car...
by Watty
Wed Sep 19, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Dad Died - Handling Mom's Finances
Replies: 12
Views: 1606

Re: Dad Died - Handling Mom's Finances

Regarding Social Security, she has the option of filing for just her own retirement benefit at 62, while allowing her survivor benefit to continue growing until it maxes out at her full retirement age . Though depending on her level of earnings, the earnings test may result in some or all of that b...
by Watty
Wed Sep 19, 2018 11:21 am
Forum: Investing - Theory, News & General
Topic: “Majority of working-age Americans have no retirement savings”
Replies: 73
Views: 3564

Re: “Majority of working-age Americans have no retirement savings”

Majority of working-age Americans have no retirement savings” Statistics are tricky. The majority of "working-age" Americans are probably younger than 40 and may have recently been dealing with increasing their net worth by paying off student loans or saving up the down payment for their first hous...
by Watty
Wed Sep 19, 2018 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Pay-off or keep mortgage with 2018 interest deduction changes?
Replies: 13
Views: 918

Re: Pay-off or keep mortgage with 2018 interest deduction changes?

.....we could pay off the mortgage but have chosen to invest the "extra" $325,000 with the belief that we can obtain a greater return than 2.66% plus 24% of investment returns. Investing the money and earning a higher return is harder than it sounds because you have a sequence of return risk. Here ...
by Watty
Wed Sep 19, 2018 10:08 am
Forum: Personal Consumer Issues
Topic: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help
Replies: 63
Views: 1702

Re: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help

wabbajack wrote:
Wed Sep 19, 2018 9:46 am
Suggestions for a Honda Civic for a person who enjoys driving a BMW are unhelpful at best.
The OP only drives about 2,000 miles a year.

If they actually enjoyed driving the BMW they would put a lot more miles on the car than that even if they only drove it on the weekend.
by Watty
Wed Sep 19, 2018 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Social Security vs. pre-tax savings
Replies: 5
Views: 407

Re: Social Security vs. pre-tax savings

Your Social Security benefit is calculated using a complicated formula that only considers the inflation adjusted earnings of the highest 35 years of your earning history. In addition it gives a lot more weight to your lower income and income about about $70K counts very little in the calculation. H...
by Watty
Wed Sep 19, 2018 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Which mortgage would you prepay?
Replies: 10
Views: 681

Re: Which mortgage would you prepay?

riverguy wrote:
Wed Sep 19, 2018 4:40 am
Easily 1. Not deductible, higher interest rate. No brainer.
+1

and it would free up some cash flow each month.
by Watty
Wed Sep 19, 2018 9:25 am
Forum: Personal Consumer Issues
Topic: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help
Replies: 63
Views: 1702

Re: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help

Hi all, I am 53, take-home about 42K, unmarried, no children….what would you do? —————————————- I have about half a million including an emergency fund of 35k. You are doing fine but something like a layoff or some other setback could put you in a big bind for retirement so you need to be careful w...
by Watty
Tue Sep 18, 2018 11:03 pm
Forum: Personal Consumer Issues
Topic: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help
Replies: 63
Views: 1702

Re: Buy-Out BMW Lease / Buy More Practical New Model / Buy Practical Used Model? Help

Miles: 8K and in excellent shape (I don’t drive much) If you have only driven 8K miles in three years then I think that you should consider going without a car. If you rent a car when you need one or take taxis or Uber that would likely be a lot less expensive. Just FYI, you can net a new 2018 Coro...
by Watty
Tue Sep 18, 2018 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: Dad Died - Handling Mom's Finances
Replies: 12
Views: 1606

Re: Dad Died - Handling Mom's Finances

My gut feel is that since you dad only died a month ago that you are trying to do too much too soon. The life insurance would be enough to pay off the mortgage, HELOC, and have enough to buy the car when the lease is up. Your Mom should also keep working. I would do that and have your mom make an ap...
by Watty
Tue Sep 18, 2018 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Dad Died - Handling Mom's Finances
Replies: 12
Views: 1606

Re: Dad Died - Handling Mom's Finances

The life insurance would be enough to pay off the high interest rate mortgage which is about the only urgent thing. She might do that and then take some time to come up with a long term plan. A couple of points; It was not clear if your mom is currently working or able to work. How much is her house...
by Watty
Tue Sep 18, 2018 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Reverse Mortgages - Pros, Cons
Replies: 22
Views: 1189

Re: Reverse Mortgages - Pros, Cons

Mlm wrote:
Tue Sep 18, 2018 8:43 pm
Ask him/her to redo the plan without the reverse mortgage. I would leave that as a last resort.
+1

One problem with people taking a reverse mortgage when they are relatively young is that it can defer people having to cut back on a lifestyle that they really cannot afford.
by Watty
Tue Sep 18, 2018 8:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can I really retire? Please check my math and poke holes.
Replies: 24
Views: 3269

Re: Can I really retire? Please check my math and poke holes.

What is your housing situation? Do you rent, have a mortgage, or a paid off house? If you have a house how much is it worth? we'll take out a dual life annuity. I'm conservatively estimating it will cost $300k to generate a $15k/year annuity. ...... We'll still have the annuity, it might be only wor...
by Watty
Tue Sep 18, 2018 12:31 pm
Forum: Investing - Help with Personal Investments
Topic: TSP to Roth IRA Tax Strategy (Post Retirement)
Replies: 12
Views: 695

Re: TSP to Roth IRA Tax Strategy (Post Retirement)

One thing to keep in mind is that the TSP has less favorable inheritance rules than an IRA. In some special situations your heirs might be required to withdraw all the money from the TSP instead of converting it to an inherited IRA. https://www.bogleheads.org/wiki/TSP_estate_planning There have been...
by Watty
Tue Sep 18, 2018 12:19 pm
Forum: Personal Consumer Issues
Topic: Suntrust Bank online banking has been down since Sunday.
Replies: 8
Views: 912

Re: Suntrust Bank online banking has been down since Sunday.

This story fits my experience with SunTrust as well. For some reason, they just don’t seem to have it together the way most other banks do. I have used them for over ten years and this is the first significant problem I have seen. I only use them for my day to day banking needs to have a local offi...
by Watty
Tue Sep 18, 2018 12:15 pm
Forum: Investing - Help with Personal Investments
Topic: Facing Retirement at year end
Replies: 22
Views: 2577

Re: Facing Retirement at year end

The $50K/yr budget includes all our current bills, including mortgage and HELOC. Health Insurance will be a new bill. and my new SS $20K/yr combined. She will draw $29K/yr social security at 66. Your wife's Social Security is pretty high so be sure to double check on that to make sure that number i...
by Watty
Tue Sep 18, 2018 10:55 am
Forum: Personal Consumer Issues
Topic: Inexpensive source for greeting cards?
Replies: 27
Views: 1447

Re: Inexpensive source for greeting cards?

knightrider wrote:
Tue Sep 18, 2018 9:15 am
I'm tired of waltzing to the local CVS and spending $5+ each time I need to send someone a greeting card.
Years ago my wife and I decided to exchange ice cream cones at the local ice cream store instead of a card. It costs about the same.
by Watty
Tue Sep 18, 2018 10:39 am
Forum: Investing - Help with Personal Investments
Topic: Weighing mid-career break and pension decision
Replies: 5
Views: 659

Re: Weighing mid-career break and pension decision

The pension is inflation linked – with a 2% assumption I would get about $35k/yr starting at 63, rising with CPI over time. This is confusing. If this in 2018 dollars? If not and it is in inflated dollars then it might be worth something less than half that with 23 years of 2% inflation. If I leave...
by Watty
Tue Sep 18, 2018 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Does this job exist (another want-to-quit-corporate-world thread)?
Replies: 35
Views: 3444

Re: Does this job exist (another want-to-quit-corporate-world thread)?

However, I would be willing to walk away from job and do something I like better even (or especially?) at a reduced salary for the next 10 years. Ideally: a) offer considerable flexibility in terms of hours: periods of long breaks would be ideal (eg, 1 month on/1 month off). b) be outside; somewhat...
by Watty
Tue Sep 18, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 126
Views: 8118

Re: Considering Quitting Job - Seeking Advice. Would you do it?

We (family) are all on board to leave/resign. "Methodical and Graceful" has evolved to "Resolute and unashamed". I've been on the threshold of making this decision for some time, leaving forward about take the leap. General timeframe is 2 to 4 weeks. Congratulations on the decision. One thing to be...
by Watty
Tue Sep 18, 2018 8:37 am
Forum: Investing - Help with Personal Investments
Topic: Questions about parents retirement accounts
Replies: 5
Views: 525

Re: Questions about parents retirement accounts

- My father is 71 years old ... - My mother is 62 ..... The funds for the new house will come from Mother's IRA + savings account Your dad will have RMD's to deal now with but your Mom not have these for 8 more years. There may be other family dynamics going on but it might make sense for the money...
by Watty
Tue Sep 18, 2018 8:00 am
Forum: Investing - Help with Personal Investments
Topic: Facing Retirement at year end
Replies: 22
Views: 2577

Re: Facing Retirement at year end

One of the first things to do would be to figure out your strategy for claiming Social Security. A poster here is working on this calculator that you can try out, but it is still being worked on so you might take it with a grain of salt. https://opensocialsecurity.com/ There are other websites that ...
by Watty
Tue Sep 18, 2018 7:01 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 2532

Re: Bank of America credit card “feature” (be careful with autopay)

I don't use BOA but I have credit card autopay set up to just pay the minimum due so that if I zone out and miss a payment I will not get hit with the late fee. At most that might be something like $50 so if it accidentally got paid when it should not have it would not be a big deal.
by Watty
Mon Sep 17, 2018 10:56 pm
Forum: Investing - Theory, News & General
Topic: Equity in house / Do you use it?
Replies: 56
Views: 3206

Re: Equity in house / Do you use it?

Equity in house / Do you use it? A Couple of ways; 1) Having a paid off house allows me to live rent free. This is called "imputed rent". https://en.wikipedia.org/wiki/Imputed_rent 2) If we ever need long term care the home equity can be used to pay for this either through something like a home equ...
by Watty
Mon Sep 17, 2018 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Double Check
Replies: 23
Views: 1524

Re: Retirement Double Check

So when I calculate how much we need to retire and meet that $17,670 figure, it amounts to $442,750 by 2032. That seems ridiculously low. I know I haven't accounted for taxes we will pay in retirement. What am I missing here? If you retire at 65 and delay starting Social Security until you are 70 t...
by Watty
Mon Sep 17, 2018 10:06 pm
Forum: Investing - Help with Personal Investments
Topic: retiring soon, any advice on moving 401k?
Replies: 6
Views: 733

Re: retiring soon, any advice on moving 401k?

Something to research is how the inheritance rules for a 401k can be different than an IRA and a lot can depend on the details of how the 401k plan is set up. I don't really know a lot about that but a quick google found links like this. https://www.kitces.com/blog/non-spouse-beneficiary-stretch-of-...
by Watty
Mon Sep 17, 2018 7:38 pm
Forum: Personal Consumer Issues
Topic: Overnight near Atlanta?
Replies: 30
Views: 1454

Re: Overnight near Atlanta?

It's about 20 hours total according to Google/Waze. The rough plan is to do 11-12 hours the first day, then 8-9 the second, arriving in the afternoon on Sunday. It would add an extra night in a hotel but I would look at leaving after work on Friday evening to get three or four hours outside of Chic...
by Watty
Mon Sep 17, 2018 4:14 pm
Forum: Personal Consumer Issues
Topic: Overnight near Atlanta?
Replies: 30
Views: 1454

Re: Overnight near Atlanta?

On the way back try to avoid driving from Florida to Atlanta on a Sunday. That is usually a heavy traffic day with other people returning from Florida to be at work on Monday. Driving from Atlanta to South Florida would be a very long days drive, I would normally do it in two days so that you could ...
by Watty
Mon Sep 17, 2018 12:07 pm
Forum: Personal Consumer Issues
Topic: Suntrust Bank online banking has been down since Sunday.
Replies: 8
Views: 912

Suntrust Bank online banking has been down since Sunday.

If you use Suntrust Bank for your online banking you should be aware that it has been down since at least Sunday afternoon. There is no estimate of when it will be back up. I have a few bills to pay and I may need to send off some paper checks in the mail for things I would normally pay online. I tr...
by Watty
Mon Sep 17, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Dilemma: Add room to current house or buy new house?
Replies: 88
Views: 3877

Re: Dilemma: Add room to current house or buy new house?

A couple of more things; - kids will need to go to different schools and lose current friends Do not under estimate how hard it is for kids to change schools especially if they are in middle or high school. I did a corporate relocation when my son was in middle school and it took him about two years...
by Watty
Mon Sep 17, 2018 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Cheap Flights
Replies: 23
Views: 2170

Re: Cheap Flights

Also look on google flights for availability/price. +1 on Google flights. https://www.google.com/flights?lite=0#flt=ATL..2018-10-03*.ATL.2018-10-07;c:USD;e:1;sd:1;t:h But I don't think Southwest will show up there so you may need to look at them separately. If you dates are flexible be sure to clic...
by Watty
Mon Sep 17, 2018 10:12 am
Forum: Personal Consumer Issues
Topic: a low grade in a 9th-grade test
Replies: 44
Views: 3266

Re: a low grade in a 9th-grade test

The first thing to do would be to talk with your kid and to see why they think they got the D. The next thing would be to contact the teacher to find out what is going on. It could be something simple like the test was too hard and all the students did badly. Some teachers don't grade on a curve so ...
by Watty
Mon Sep 17, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Dilemma: Add room to current house or buy new house?
Replies: 88
Views: 3877

Re: Dilemma: Add room to current house or buy new house?

Even though the house is pretty large (>6000sqft) including unfinished basement, my spouse always thought or felt it was a bit too small.... What do you suggest is the best course of action? Family counseling. That is not meant to be snarky but if 6000 square feet is not big enough then there is so...
by Watty
Mon Sep 17, 2018 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Delaying SS? How Long It Will Take for It to Pay Off?
Replies: 39
Views: 2836

Re: Delaying SS? How Long It Will Take for It to Pay Off?

Greenman72 wrote:
Mon Sep 17, 2018 8:06 am
I don't know much about anything.
But I know that delaying it until 70 doesn't help if you die at 69.
If you are single it is much better to be wrong when you are dead than when you are alive. :D
by Watty
Mon Sep 17, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: Delaying SS? How Long It Will Take for It to Pay Off?
Replies: 39
Views: 2836

Re: Delaying SS? How Long It Will Take for It to Pay Off?

This is just sort of thinking out loud so take this with a big grain of salt if you are deciding when to start Social Security. One problem with the Social Security calculators that they are comparing an investment to an annuity so that is comparing apples to oranges. Another way of looking at is to...
by Watty
Sun Sep 16, 2018 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: Finding an investment for soon-to-be-received large sum
Replies: 10
Views: 1075

Re: Finding an investment for soon-to-be-received large sum

Seems like your team won already. Take the money and run. Quit while you’re ahead? +1 Diversification is huge problem since even if you pick something that is likely to do well there is always a chance that it won't. You also need to consider who will manage it if you get hit by the proverbial Mack...
by Watty
Sun Sep 16, 2018 11:02 pm
Forum: Personal Finance (Not Investing)
Topic: Playing catch up. Best methods to grow retirement in next 10+years?
Replies: 17
Views: 2083

Re: Playing catch up. Best methods to grow retirement in next 10+years?

Looking at 12-15 years or so to build up more for retirement or partial retirement. Currently have just shy of $500k Really need to save and have investments grow about 1-1.5 million before FI. There is a good chance that your current $500K will grow to be over a million dollars in 12-15 years. You...
by Watty
Sun Sep 16, 2018 10:23 pm
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 126
Views: 8118

Re: Considering Quitting Job - Seeking Advice. Would you do it?

I am guilty of worrying too much about the downside…..it’s a round-about way of being protective of my kids, I guess. Providing for them financially is important but being around to help them out for a few more decades is probably more important. Right now you could put 2 million each into a trusts...