Search found 22988 matches

by Watty
Wed Aug 04, 2021 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Semi-Retiring in Less than 6 months at 39 years old..Thoughts?
Replies: 26
Views: 3086

Re: Semi-Retiring in Less than 6 months at 39 years old..Thoughts?

.....or things that I haven't thought of? It looks real good but here are some things to add to your list of things to research; 1) Medical insurance 2) Social Security. That can be tricky for some people with a government pension but I do not know how that impacts people with a military pension. Y...
by Watty
Wed Aug 04, 2021 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Weighing a job offer - your thoughts please
Replies: 6
Views: 873

Re: Weighing a job offer - your thoughts please

You gave a lot of details about your current compensation but then said that if you did not take the position the job would end. That really makes what you are earning now irrelevant. What matters is how the job offer will compare to what you will be doing next January if you to not accept the posi...
by Watty
Wed Aug 04, 2021 3:19 pm
Forum: Personal Investments
Topic: SECURE Act and family inheritance question
Replies: 27
Views: 1657

Re: SECURE Act and family inheritance question

This is one situation that I know happened that you should talk to your lawyer about. 1) Retired couple with a seven figure net worth sets up their paperwork so that the spouse would inherit everything when one of them dies then the kids would get whatever is left when the second of them dies. 2) Hu...
by Watty
Wed Aug 04, 2021 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Complex retirement drawdown planning?
Replies: 25
Views: 1154

Re: Complex retirement drawdown planning?

How do people plan for these more complex models where retirement funds come online at different times and at the same time spending is declining? You can do two passes to model your retirement finances. The first pass you assume that everything is available now to make sure that you have enough to...
by Watty
Wed Aug 04, 2021 8:12 am
Forum: Personal Investments
Topic: As I near the goal - what next steps?
Replies: 4
Views: 1048

Re: As I near the goal - what next steps?

As I near the goal - what next steps? $508k mortgage @2.75% $800k value house. ~$10k loan left on car @1.9% Pay off the car loan. :oops: With your income and assets there is no reason to have a car loan, unless it is at 0% and even then that does not get you much since you have money in bonds and T...
by Watty
Wed Aug 04, 2021 12:08 am
Forum: Personal Finance (Not Investing)
Topic: How much house can I afford? (unique situation)
Replies: 12
Views: 1886

Re: How much house can I afford? (unique situation)

A few sort of random comments. Before you decide to build it would be really good to make sure that you could not buy an existing home and then make it work even if that meant adding a new rental unit in the back yard. There are so many issues involved building a custom home should be a last resort....
by Watty
Tue Aug 03, 2021 11:24 pm
Forum: Personal Consumer Issues
Topic: Why is pc so slow
Replies: 63
Views: 2853

Re: Why is pc so slow

A SSD can make a huge difference but it sounds like there is something else going on since the PCs are both running a lot worse than when they were new.

Software does get more demanding with each version that comes out things like browsers should run just fine on that hardware.
by Watty
Tue Aug 03, 2021 11:06 pm
Forum: Personal Consumer Issues
Topic: Why is pc so slow
Replies: 63
Views: 2853

Re: Why is pc so slow

It would be good to run a full scan with windows defender to see if that finds any viruses. A couple of years ago Microsoft made it super easy to basically reload Windows 10 and then start over with a fresh system. I don't know how that might work with Carbonite. You want to back up your computer fi...
by Watty
Tue Aug 03, 2021 9:32 pm
Forum: Personal Investments
Topic: New boglehead looking for suggestions on my approach, updated
Replies: 6
Views: 891

Re: New boglehead looking for suggestions on my approach, updated

Debt: home - 3.87% $236,000 remaining, value $360,000; ....Are there any glaring issues? Two jumped out at me. 1) You desperately need to refinance to get a lower mortgage rate unless you are planning on moving in the near future. I would take a hard look to see if you could do a 15 year mortgage t...
by Watty
Tue Aug 03, 2021 9:02 pm
Forum: Personal Finance (Not Investing)
Topic: New Construction Home: What to watch out for?
Replies: 11
Views: 1128

Re: New Construction Home: What to watch out for?

It would be good to have the house inspected several times during the construction. There is a lot that can be seen before drywall and siding is up that you cannot see later. With them just knowing that the house will be inspected you will likely get better workmanship. Expect delays because of mate...
by Watty
Tue Aug 03, 2021 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Do we have to claim it as income?
Replies: 22
Views: 2379

Re: Do we have to claim it as income?

My wife will be responsible for obtaining her own liability insurance, Don't underestimate the importance of having really good liability insurance. It sounds like the church is stopping the prior arrangement largely because of the liability risks and insurance problems. She may also need a busines...
by Watty
Tue Aug 03, 2021 8:22 pm
Forum: Personal Consumer Issues
Topic: Car GPS users, how often do you update maps?
Replies: 31
Views: 1593

Re: Car GPS users, how often do you update maps?

One thing to keep in mind is that when you update your GPS it not only updates the maps but it also updates the firmware and while it does not happen often there are occasionally changes in the signals the the GPS satellites are sending. There can also be firmware updates to fix program bugs. In 201...
by Watty
Tue Aug 03, 2021 6:46 pm
Forum: Personal Investments
Topic: Advice on complicated retirement plan
Replies: 21
Views: 2901

Re: Advice on complicated retirement plan

We like to look at the pension as a "bond". There are lots and lots of threads about if you can consider the pension(or social security, or home equity) a bond or not. You can find them by using the search box that is in the top right corner of most of the web pages. My take on it is that...
by Watty
Tue Aug 03, 2021 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Income Generating Ideas
Replies: 59
Views: 4683

Re: Income Generating Ideas

I honestly, envy those people that work at IT shops that make $250k+ bonus with half the experience I have. Moreover, they all get career advancement every few years. I know, behind my back my peer group laughs/questions about my job choices. Some people do make crazy money working with computers b...
by Watty
Tue Aug 03, 2021 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: What to do with Pension plan after left job?
Replies: 12
Views: 1094

Re: What to do with Pension plan after left job?

I've had a tough time to get the company to tell us exactly what she would get as a pension. Not sure why. Just guessing, but if it is some sort of cash balance plan then what the pension will pay could depend on how much the cash balance grows by then, and the current interest rate is since that i...
by Watty
Tue Aug 03, 2021 10:36 am
Forum: Personal Consumer Issues
Topic: lowest cost approach to get CPAP
Replies: 13
Views: 960

Re: lowest cost approach to get CPAP

Right now I have a 7 year old CPAP and it just quit on me. ...... Am I missing something? If the machine is just totally dead with no lights then have you checked to see if it is just the power supply that failed? If you have a "brick" power supply in the cord between the wall plug and yo...
by Watty
Tue Aug 03, 2021 10:02 am
Forum: Personal Finance (Not Investing)
Topic: What to do with Pension plan after left job?
Replies: 12
Views: 1094

Re: What to do with Pension plan after left job?

I had the same conundrum while they paid 4% interest on my pension balance. I had a relatively small old pension plan that was discontinued in the 1990's while I was still working for the company. It was converted to be a cash balance plan. It was guaranteed to earn a government bond rate or a mini...
by Watty
Tue Aug 03, 2021 8:35 am
Forum: Personal Consumer Issues
Topic: self managing long distance real estate rental
Replies: 7
Views: 875

Re: self managing long distance real estate rental

self managing long distance real estate rental Sounds like a bad idea. How will you check people in and check them out? Likewise what will you do when your cleaning service flakes out and does not show up? It might seem obvious but be sure that short term rentals are actually allowed. Many condo as...
by Watty
Tue Aug 03, 2021 7:49 am
Forum: Personal Consumer Issues
Topic: Replacing High End Built in Refrigerator...
Replies: 41
Views: 3181

Re: Replacing High End Built in Refrigerator...

Also, I really hate the idea of spending $10-$12K on a refrigerator but worry about how the space will look with a standard fridge, and how bad that will bug me. If you buy a $2,000 refrigerator you can buy a lot of custom cabinet work for the remaining $8 -10K. For example you could put an extra f...
by Watty
Mon Aug 02, 2021 10:16 pm
Forum: Personal Consumer Issues
Topic: I really want a car but don't need one: Please help
Replies: 43
Views: 3396

Re: I really want a car but don't need one: Please help

- Finally, I cannot bring myself to spend 15k-20k on a newish Civic or Corolla and miss out on the gains (or losses) of simply VTIing that amount. Used car prices are crazy now, I sold a three year old Corolla a few months ago for more than I paid for it when it was new. Even in normal times many p...
by Watty
Mon Aug 02, 2021 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Income Generating Ideas
Replies: 59
Views: 4683

Re: Income Generating Ideas

Be sure to check the employment policies where you work, sometimes you are expected to get prior approval for outside work to make sure that there are no conflicts. Wear lots of hats from being business analyst to system administrator and beyond. I retired out of IT. With you being a system administ...
by Watty
Mon Aug 02, 2021 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Income Generating Ideas
Replies: 59
Views: 4683

Re: Income Generating Ideas

Be sure to check the employment policies where you work, sometimes you are expected to get prior approval for outside work to make sure that there are no conflicts. Wear lots of hats from being business analyst to system administrator and beyond. I retired out of IT. With you being a system administ...
by Watty
Mon Aug 02, 2021 9:33 pm
Forum: Personal Investments
Topic: New to investing! Any help so appreciated :)
Replies: 4
Views: 470

Re: New to investing! Any help so appreciated :)

Now I'm interested in possibly opening a separate Vanguard individual brokerage account to put some of my other savings to work and am looking for advice on what to invest in using that. There is not enough information to really give you any good suggestions about what you should do. There is a sug...
by Watty
Mon Aug 02, 2021 6:24 pm
Forum: Personal Investments
Topic: Reassurance Wanted
Replies: 22
Views: 3763

Re: Reassurance Wanted

Reassurance Wanted One thing that you might find reassuring would be to do a "fire drill" of what your situation would be in 5, 10, 20,... years if you retire then your finances go horribly wrong. I would suspect that it might be something like you would have to sell the second home or cu...
by Watty
Mon Aug 02, 2021 5:51 pm
Forum: Personal Consumer Issues
Topic: Cost of cleaning out hoarder house
Replies: 25
Views: 3639

Re: Cost of cleaning out hoarder house

What's a fair price to pay for emptying house (i.e., dumpster and labor) to prepare it for sale? Mid NJ. If you will be using a real estate agent to sell the house they may know, or be able to find out, what some local companies will charge. You may also get better responses if you mention that som...
by Watty
Mon Aug 02, 2021 3:51 pm
Forum: Personal Finance (Not Investing)
Topic: Rent vs Buy but a unique situation
Replies: 16
Views: 1577

Re: Rent vs Buy but a unique situation

We wanted to do a full 1 year lease for stability but the landlord insisted he would only do a month-month. That could mean that something is going on like the landlord is thinking of selling it in January when the sale would be on next years taxes. Post tax stocks (mostly FAANG): 650k ..... should...
by Watty
Mon Aug 02, 2021 3:19 pm
Forum: Personal Investments
Topic: Gliding down at the wrong time: Target date decisions
Replies: 22
Views: 2115

Re: Gliding down at the wrong time: Target date decisions

What would you do if your target date fund is gliding down as the market trends down over several years, effectively locking in losses? The losses have already occurred, there is no "locking in losses"(*), you are in the same situation as someone who bought the target date fund today with...
by Watty
Mon Aug 02, 2021 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Roast our budget
Replies: 51
Views: 2870

Re: Roast our budget

Both of us work and total salary is 850k. Live in MCOL metro. .... Vacation 400 The pandemic may be limiting this but you may be underspending on vacations. While the kids are young it could be a good time to spend more on "buying experiences". Auto Maintainence 150 That is $1,800 a year....
by Watty
Mon Aug 02, 2021 11:22 am
Forum: Personal Consumer Issues
Topic: Roof leak - Do home insurers keep records of your calls asking if you should place a claim?
Replies: 5
Views: 728

Re: Roof leak - Do home insurers keep records of your calls asking if you should place a claim?

CenTexan wrote: Mon Aug 02, 2021 11:09 am Suggestions?
Read your homeowners insurance policy before you call them to understand what should be covered.
by Watty
Mon Aug 02, 2021 10:48 am
Forum: Investing - Theory, News & General
Topic: Investing in Precious Metals
Replies: 8
Views: 829

Re: Investing in Precious Metals

Welcome to the forum. There is a search box in the top right corner of of most of the web pages so if you enter "gold" there you will find lots of prior discussions about gold. Curiously, Gold has not performed well during the last year in which we've begun to see higher inflation. I don't...
by Watty
Mon Aug 02, 2021 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Once retired, how much SHOULD one keep in their Pre-Tax accounts (PTAs)?
Replies: 40
Views: 3071

Re: Once retired, how much SHOULD one keep in their Pre-Tax accounts (PTAs)?

I think we have enough (especially when adding in future SS) but we're not HNW in my opinion. Roughly $3.5MM before the house, with about ~2MM in PTAs. We'll be converting to some level and I'm trying to figure out when to stop converting. My figuring was to stop at about $800M (all in cds/bond fun...
by Watty
Mon Aug 02, 2021 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Dead tenant, house is a mess
Replies: 35
Views: 8213

Re: Dead tenant, house is a mess

Any landlords been through this type of situation? My in-laws build their retirement home with a granny flat in the back with the idea of having some rental income. One of the renters died, in a hospital thankfully, but their stuff was left in the apartment. That was a long time ago and I don't rec...
by Watty
Mon Aug 02, 2021 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Once retired, how much SHOULD one keep in their Pre-Tax accounts (PTAs)?
Replies: 40
Views: 3071

Re: Once retired, how much SHOULD one keep in their Pre-Tax accounts (PTAs)?

It really varies depending on if your total investments are modest or if you have millions of dollars in investments. For someone with a more modest net worth then they really want enough in a pre-tax IRA to have enough taxable income to cover the standard deduction and the 12% tax bracket for a sin...
by Watty
Mon Aug 02, 2021 12:19 am
Forum: Personal Investments
Topic: Complex analysis- High income.. convert IRA to Roth, or Rollover to Employer 401k?
Replies: 16
Views: 1495

Re: Complex analysis- High income.. convert IRA to Roth, or Rollover to Employer 401k?

Thank you all for your thoughts. A couple of sort of random thoughts; 1) I might have missed it but I did not see any mention about you doing a mega back door Roth. Have you looked into doing that? https://www.bogleheads.org/wiki/Mega-backdoor_Roth 2) It's difficult right now to know if our tax rat...
by Watty
Sun Aug 01, 2021 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: Retiring on 12 acres, considering gifting 1.5 to son
Replies: 12
Views: 2363

Re: Retiring on 12 acres, considering gifting 1.5 to son

Debts - 365K on a 30 year 2.75% mortgage - Home value - 750K If that mortgage is on the house and land you are thinking of subdividing then you will not be able to split off the 1.5 acres without the lender approvals and I would suspect that they may want you to do a full refinance to split off the...
by Watty
Sun Aug 01, 2021 4:08 pm
Forum: Personal Investments
Topic: Starting over
Replies: 22
Views: 1656

Re: Starting over

02nz wrote: Sun Aug 01, 2021 4:02 pm
Watty wrote: Sun Aug 01, 2021 2:28 pm For 2021 the top of the single 12% tax bracket is $40,525 and the standard deduction is $12,550 so you would need $63,075 in taxable income to get into the 22% federal tax bracket.
You mean $53,075.
Good catch, I fixed it, thanks
by Watty
Sun Aug 01, 2021 3:37 pm
Forum: Personal Finance (Not Investing)
Topic: Father intends to have no will. He will use named beneficiaries on accounts to distribute assets to heirs. Is this wise?
Replies: 140
Views: 11286

Re: Father intends to have no will. He will use named beneficiaries on accounts to distribute assets to heirs. Is this w

Is this a sound strategy? I am not a lawyer but it sounds like things would get real tricky if anything happens like he outlives you, the spouse, or your your sister. The problem is something happens like you die then you portion of his accounts might go your estate(likely your spouse), your kids, ...
by Watty
Sun Aug 01, 2021 3:16 pm
Forum: Personal Finance (Not Investing)
Topic: Job offer: bird in hand, two in the bush?
Replies: 22
Views: 2479

Re: Job offer: bird in hand, two in the bush?

It’s a fairly small industry so accepting #1 and then backing out later would irreparably burn some bridges. Don't be so sure of that as long as you are able to back out before your start date. Maybe more singed bridge than burned. Hiring managers have likely been in similar situations themselves, ...
by Watty
Sun Aug 01, 2021 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: When to buy-out employer subsidized mortgage?
Replies: 10
Views: 1098

Re: When to buy-out employer subsidized mortgage?

Basically I'm paying in forgone appreciation. Don't ignore the risk that the home price could decline. I cannot predict the future but many home markets are pretty bubbly and price declines of over 20% are not all that uncommon. It also sounds like you would also have to pay all the closing costs i...
by Watty
Sun Aug 01, 2021 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: How best to unwind an account held by DW for a relative in a legal way
Replies: 28
Views: 1917

Re: How best to unwind an account held by DW for a relative in a legal way

It’s not necessarily a gift. Look up informal trust. Thank you. At first, most references online are for Canadian accounts, but I’ll look deeper. I probably should ask our estate attorney, but she will probably roll her eyes and ask why we didn’t talk to her before we set up the account :D It would...
by Watty
Sun Aug 01, 2021 2:28 pm
Forum: Personal Investments
Topic: Starting over
Replies: 22
Views: 1656

Re: Starting over

I fall within the 22% federal tax bracket rate when I was married and filed jointly. I will be filing under the single rate next year. For 2021 the top of the single 12% tax bracket is $40,525 and the standard deduction is $12,550 so you would need $63,075 $53,075 in taxable income to get into the ...
by Watty
Sun Aug 01, 2021 1:41 pm
Forum: Personal Investments
Topic: Starting over
Replies: 22
Views: 1656

Re: Starting over

What are the expense rations of the target date funds, like the 2045 fund, in your 457? If it has a decent expense ratio then it might be a lot easier to use that. I would also look at starting up a car fund to help pay for a replacement car, especially if you need an expensive conversion for your d...
by Watty
Sun Aug 01, 2021 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Were your last few career years a slog?
Replies: 48
Views: 4865

Re: Were your last few career years a slog?

Any similar experiences from folks that may be able to commiserate? I retired out of corporate IT when I was 58. I was a "techie" and did not have the right personality to go into management, which was fine with me since I enjoyed the hands on work and was always well paid even if I did n...
by Watty
Sun Aug 01, 2021 9:28 am
Forum: Personal Consumer Issues
Topic: New two stage heating and single stage cooling trane system issues cooling the house cant lower temp much in day?
Replies: 152
Views: 6932

Re: New two stage heating and cooling trane system issues cooling the house cant lower temp much in day?

It is a longshot but if you have something like electric baseboard heating is is possible that it is also running?
by Watty
Sun Aug 01, 2021 9:15 am
Forum: Personal Consumer Issues
Topic: Should I buy a new PC vs upgrade
Replies: 57
Views: 3526

Re: Should I buy a new PC vs upgrade

Windows 10 is still a free upgrade. I have done it about 4 times on the last few months on a variety of computers. https://www.cnet.com/tech/services-and-software/how-to-download-windows-10-for-free-now-that-windows-7-is-dead/ I would not update to Win 10 at this point. The OP has a slow machine. U...
by Watty
Sun Aug 01, 2021 9:08 am
Forum: Personal Consumer Issues
Topic: Should I buy a new PC vs upgrade
Replies: 57
Views: 3526

Re: Should I buy a new PC vs upgrade

(1) Is it worth it to upgrade the existing tower with more memory and a SSD while keeping the old hardware. Would also add a card for WiFi and Bluetooth. Something else to check on is if you have any software, like MS Office, that you will need to buy if you replace the PC. Some other issues are th...
by Watty
Sun Aug 01, 2021 12:25 am
Forum: Personal Finance (Not Investing)
Topic: When to buy-out employer subsidized mortgage?
Replies: 10
Views: 1098

Re: When to buy-out employer subsidized mortgage?

I’m hoping for some input on aspects I may be missing...... How would this work if you are laid off? It sounds like you would in a catch 22 situation where you would need to buy out the employer, but you would not be able to get a new mortgage because you were laid off. If you do not have enough ca...
by Watty
Sat Jul 31, 2021 11:30 pm
Forum: Personal Finance (Not Investing)
Topic: Advice for an old dad: Raising teens into early 60’s
Replies: 37
Views: 5133

Re: Advice for an old dad: Raising teens into early 60’s

You are doing fine. If you had kids in your 20's and they were finishing up college now then you would not have nearly the savings that you have today. Even without counting your home equity you have over a million dollars in investments. Even if you did not save another dime that will likely grow t...
by Watty
Sat Jul 31, 2021 8:16 pm
Forum: Personal Investments
Topic: Portfolio questions for 68 year old retiree
Replies: 12
Views: 1885

Re: Portfolio questions for 68 year old retiree

Mr. Watty, you mention a 90/10 assest allocation as being extremely aggressive. What would you suggest? When looking at what asset allocation to use I like to look at target date funds to see what they use. For comparison the Vanguard 2020 fund is about 46% stocks and 54% bonds and the percentage o...
by Watty
Sat Jul 31, 2021 11:20 am
Forum: Personal Investments
Topic: Advice on complicated retirement plan
Replies: 21
Views: 2901

Re: Advice on complicated retirement plan

We live in California and do not plan on ever leaving the state. Even if you want to stay in the same city something to keep in mind is that you may be able to move to a much less expensive , and possibly nicer, house when you retire. In some areas housing can be dramatically less expensive if you ...