Search found 13324 matches

by Watty
Sat May 26, 2018 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Leave Traditional IRA to Grandkids?
Replies: 13
Views: 848

Re: Should I Leave Traditional IRA to Grandkids?

There are a few non-deductible contributions. I would figure out what to do with the Roth conversion each December when the numbers for the year are pretty firm. The way her Social Security is taxed is also an important factor since that might put her in a higher than expected tax bracket. https://...
by Watty
Sat May 26, 2018 5:24 pm
Forum: Personal Consumer Issues
Topic: I need advice on having 2 jobs.
Replies: 21
Views: 2080

Re: I need advice on having 2 jobs.

I don't have a clue how this might work but it would be sweet if you could work it so that the Big 4 firm took on your current employer as a client and you would do your old job as a highly paid consultant, or you might get a big bonus for bringing in new business. The 55k a year sounds beyond low f...
by Watty
Sat May 26, 2018 5:12 pm
Forum: Personal Finance (Not Investing)
Topic: Should I Leave Traditional IRA to Grandkids?
Replies: 13
Views: 848

Re: Should I Leave Traditional IRA to Grandkids?

And I don't see the point much in doing a phased conversion and all the awful pro-rating calculations I have to do each year at tax time. Plus, it would take a long time if I want to try and not trigger the next tax bracket each year. I would assume that she has some post tax contributions that mig...
by Watty
Sat May 26, 2018 4:41 pm
Forum: Investing - Help with Personal Investments
Topic: Investment Strategy at 55
Replies: 8
Views: 1547

Re: Investment Strategy at 55

I looked at what she had and demonstrated to her the amount she is potentially losing with the AMU, and told her I could manage the stuff and save her a lot of money in the long run. One thing you might point out is that once she retires she will be able to start out with somewhere around a 4% safe...
by Watty
Sat May 26, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Should parents renew life insurance?
Replies: 8
Views: 476

Re: Should parents renew life insurance?

They're reasonably healthy, though fairly overweight It would be good to get some prices on new term policies to see what the prices are then decide if buying it masks sense or not. It may be so high that buying it is not a realistic option if they can even get a new term policy. One problem they h...
by Watty
Sat May 26, 2018 11:19 am
Forum: Personal Consumer Issues
Topic: Brick pavers on the edge of my porch are already falling off
Replies: 31
Views: 1930

Re: Brick pavers on the edge of my porch are already falling off

The problem is likely that glue should not have been used to hold the vertical bricks. If you google "Stone Veneer Mortar" you will find what is used to hold a stone veneer on vertical walls like the side of house or retaining wall. You can find videos on how to put on stone veneer and that would be...
by Watty
Sat May 26, 2018 12:05 am
Forum: Personal Consumer Issues
Topic: Brick pavers on the edge of my porch are already falling off
Replies: 31
Views: 1930

Re: Brick pavers on the edge of my porch are already falling off

gilgamesh wrote:
Fri May 25, 2018 9:02 pm
4 year old home
Did the builder provide a warranty on the house?

Even if the builder did not you should still call them. It could be that some subcontractor took a shortcut and the builder may be able to get them to fix it.
by Watty
Fri May 25, 2018 11:59 pm
Forum: Investing - Help with Personal Investments
Topic: Investment Strategy at 55
Replies: 8
Views: 1547

Re: Investment Strategy at 55

...and she is paying 1.5% annually (though in a call this week they said they will bump it down to 1%). Sadly that is likely just the tip of the iceberg and a lot of the funds they have her invested in likely also have high fees. Since about 90% of here funds are in her IRA and the other 10% is bas...
by Watty
Fri May 25, 2018 7:43 pm
Forum: Personal Consumer Issues
Topic: Home Telephone network
Replies: 6
Views: 495

Re: Home Telephone network

If you start messing with the wires one thing to watch out for is that the house may have had more than one phone with seperate lines and wiring. Before I bought my house it had a second phone, probably for a business or a teenager, so there were all sorts of phone wires that were added that are no ...
by Watty
Fri May 25, 2018 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Lump sum versus annuity - could use your insight.
Replies: 8
Views: 829

Re: Lump sum versus annuity - could use your insight.

Canoesmith wrote:
Fri May 25, 2018 4:44 pm
A 4% draw on the $1578M is about $23k less than the annuity, but the annuity is non cola.
One more thought, after taxes that might be more like $16K less especially since it will limit your ability to manage your taxable income.
by Watty
Fri May 25, 2018 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: Lump sum versus annuity - could use your insight.
Replies: 8
Views: 829

Re: Lump sum versus annuity - could use your insight.

What do you expect your expenses to be? Once you start the pension you will have about $85,000 in income so you may not really need the annuity income then. A 4% draw on the $1578M is about $23k less than the annuity, but the annuity is non cola. And your estate will get what is leftover. It you tak...
by Watty
Fri May 25, 2018 3:58 pm
Forum: Investing - Help with Personal Investments
Topic: Book for wife on investing
Replies: 24
Views: 1493

Re: Book for wife on investing

chevca wrote:
Fri May 25, 2018 3:42 pm
The good old "Bogleheads' Guide to Investing" a pretty good one to start with. :happy
+1

It is very readable for someone without any background in investing.

https://www.amazon.com/s/?search-alias= ... Bogleheads
by Watty
Fri May 25, 2018 3:35 pm
Forum: Personal Consumer Issues
Topic: Which tickets would you buy in advance (Europe)?
Replies: 20
Views: 1040

Re: Which tickets would you buy in advance (Europe)?

Will be in Europe this summer. Which activity/tour/museum tickets would you purchase/recommend in advance? Also, City Passes worth it in any of these cities? London Rhine River (Bacharach) Munich Venice Rome Cinque Terre/Pisa Swiss Alps (Lauderbraunen) Paris That is a lot. Be sure to check on the d...
by Watty
Fri May 25, 2018 8:06 am
Forum: Personal Consumer Issues
Topic: Magic Jack Go vs Obihai obi200- which one as landline replacement?
Replies: 30
Views: 2636

Re: Magic Jack Go vs Obihai obi200- which one as landline replacement?

I didn't look a lot into using Google Voice since I would have so many privacy concerns with them. There is the saying "If you are not paying for it, you're not the customer; you're the product." We were getting an excessive number of sales and robo calls, like a half dozen a day. We are now using O...
by Watty
Fri May 25, 2018 7:39 am
Forum: Investing - Help with Personal Investments
Topic: Expenses now are 50k a year...can I plan that for retirement?
Replies: 12
Views: 1077

Re: Expenses now are 50k a year...can I plan that for retirement?

I thought I always heard that you want to plan for about 85% of your salary in retirement? Rules of thumb like that are pretty worthless since the details of what people spend are so variable. T he median household income in the US is about $59,000 so with a paid off house $50K is certainly enough ...
by Watty
Thu May 24, 2018 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: New(ish) attending physicians in the Bay Area: Housing
Replies: 150
Views: 11506

Re: New(ish) attending physicians in the Bay Area: Housing

I am very curious about where those who are doing regular jobs live in Bay Area if a two tech/physician family can't afford an entry level home. Even big tech companies have a lot of administrative and supportive positions. Good question... I wonder about that myself. I think it's a combination of ...
by Watty
Thu May 24, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Am I crazy to pay off my 30-yr fixed 3.625 mortgage?
Replies: 84
Views: 7968

Re: Am I crazy to pay off my 30-yr fixed 3.625 mortgage?

I would pay it off. Investing the money and getting a higher investment return is harder than it sounds because you have a sequence of returns risk. Here is an example that I have posted before.  If you do not pay it off then you will have more sequence of returns risk. For example in rough numbers...
by Watty
Thu May 24, 2018 5:55 pm
Forum: Personal Finance (Not Investing)
Topic: Am I crazy to pay off my 30-yr fixed 3.625 mortgage?
Replies: 84
Views: 7968

Re: Am I crazy to pay off my 30-yr fixed 3.625 mortgage?

I would pay it off. Investing the money and getting a higher investment return is harder than it sounds because you have a sequence of returns risk. Here is an example that I have posted before.  If you do not pay it off then you will have more sequence of returns risk. For example in rough numbers ...
by Watty
Thu May 24, 2018 2:43 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America ATM card not working internationally
Replies: 23
Views: 1133

Re: Bank of America ATM card not working internationally

Really I'd just like to know what the issue is so I can plan for it in the future. It seems like the card itself has an issue, but I haven't a clue what it might be. It did work in the US before traveling. Is it possible that the ATM's are trying to use the magnetic strip and not the chip and the m...
by Watty
Thu May 24, 2018 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Buying Crypto tokens in private sale prior to ICO
Replies: 21
Views: 1137

Re: Buying Crypto tokens in private sale prior to ICO

My DW works as a freelancer for a small financial company who is planning for initial coin offering (ICO) for their version of cryptocurrency. The company is offering her access to their private sale of crypto tokens prior to their anticipated ICO. The token price in private sale seems to be highly...
by Watty
Thu May 24, 2018 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Life Changes
Replies: 27
Views: 3085

Re: Life Changes

Plus electricity hook up of ~10k. The electric company charges 12/foot for overhead lines. The proposed building site is 2600 ft off grid. First 250 ft free. 29k,! I'm offering 30 k off listed price. The first quote was almost triple what you expected. Before you buy the place it would be good to a...
by Watty
Wed May 23, 2018 11:36 pm
Forum: Investing - Help with Personal Investments
Topic: Selling Rental House, Completely Lost on How to Invest
Replies: 7
Views: 690

Re: Selling Rental House, Completely Lost on How to Invest

You will get a lot better suggestions if you post your information in this suggested format.(more or less)

viewtopic.php?f=1&t=6212

There is also a getting started wiki that might be helpful.

https://www.bogleheads.org/wiki/Getting_started
by Watty
Wed May 23, 2018 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with debt strategy
Replies: 47
Views: 2301

Re: Need help with debt strategy

Here is something critical. Apparently Dave Ramsey gives a lot of good advice that has worked for people about how to dig yourself out of things like credit card debt and that is great. The problem is there have been a lot of negative comments about his investing advice and how to manage your money ...
by Watty
Wed May 23, 2018 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing a house, downpayment vs. retirement and other considerations
Replies: 157
Views: 4807

Re: Purchasing a house, downpayment vs. retirement and other considerations

wife's parents believe we are too far ahead on retirement savings, and have told us to expect to receive a healthy inheritance of pre-tax money from their 401k. Don't count on that. Here that I have heard of. 1) One of them survives the other and then gets remarried. Things get complicated and the ...
by Watty
Wed May 23, 2018 10:55 am
Forum: Personal Finance (Not Investing)
Topic: Need help with debt strategy
Replies: 47
Views: 2301

Re: Need help with debt strategy

One thing that has not been mentioned is that if your employer has a 401k match then you should get signed up and contribute enough to the 401k to get the match starting with your first paycheck if possible. This is true even though you have the debt. Some 401k plans do the match with each paycheck ...
by Watty
Wed May 23, 2018 10:32 am
Forum: Investing - Theory, News & General
Topic: Taxable Account Near Retirement
Replies: 16
Views: 1548

Re: Taxable Account Near Retirement

Question 1. How should I invest in my taxable account when I near retirement. Keeping it in stocks seems someone risky to me considering a possible crash and what not. However, I know that bonds are taxed at a certain rate. I have considered bonds that are tax advantaged, but considering my tax bra...
by Watty
Wed May 23, 2018 9:58 am
Forum: Personal Consumer Issues
Topic: Rental car in Denver, CO
Replies: 22
Views: 1445

Re: Rental car in Denver, CO

Be sure to get a quote at a non-airport location since they usually add all sorts of fees and taxes to airport car rentals. I have done things like gotten a one day airport rental that dropped off at a non-airport location the next day at the same time I had a weekly rental reserved. If your dates a...
by Watty
Wed May 23, 2018 9:48 am
Forum: Personal Finance (Not Investing)
Topic: Buy this home?
Replies: 39
Views: 3840

Re: Buy this home?

Price Appreciation: 4% (which is conservative for Issaquah based on actual and forecasted) That would imply that the home price would double about every 18 years. Inflation might make that possible but in real inflation adjusted numbers there is a limit to just how much people can pay for a house. ...
by Watty
Wed May 23, 2018 9:13 am
Forum: Personal Finance (Not Investing)
Topic: Financial and retirement issues associated w/ moving to Canada
Replies: 11
Views: 810

Re: Financial and retirement issues associated w/ moving to Canada

(assume you are explaining it to a Golden Retriever). US citizens can normally visit Canada for a limited time(six months?) without any special paperwork except for their passport. To actually move there you will need a visa to get permission to stay there longer. Trying to get the visa on your own...
by Watty
Wed May 23, 2018 7:55 am
Forum: Personal Consumer Issues
Topic: Babymoon - Hawaii Recommendations/Expected Costs
Replies: 27
Views: 1636

Re: Babymoon - Hawaii Recommendations/Expected Costs

Probably going to go for 3-4 nights. As others have said that is too short a time for trip to Hawaii even if you are on the west coast. Realistically three nights only means two days of beach time when you are not traveling. If you want to go to Hawaii then figure out how to get some extra days for...
by Watty
Tue May 22, 2018 12:24 pm
Forum: Investing - Theory, News & General
Topic: Predicting income from investment
Replies: 13
Views: 938

Re: Predicting income from investment

You can plug your numbers into firecalc to see how that would have done in the past.

https://www.firecalc.com/
by Watty
Tue May 22, 2018 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Buy an old farmhouse?
Replies: 47
Views: 3747

Re: Buy an old farmhouse?

what advice do you have? Be sure to find out what the insurance will cost. Between the pool, probably no fire hydrant, and probably being a long way from the nearest fire station the insurance could cost a lot more than you are expecting. Also consider how long you will be from the nearest hospital...
by Watty
Tue May 22, 2018 10:17 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy a new car?
Replies: 43
Views: 2143

Re: Should I buy a new car?

Mortgage: ~1100/month @ 3.0% (8 years into a 153,000 mortgage) Pay your house off before buying expensive toys. Money is fungible so if you so if you buy the Jaguar then you are in effect using a mortgage to buy it. I've been playing around with the retirement section of Personal Capital and even i...
by Watty
Tue May 22, 2018 10:02 am
Forum: Personal Consumer Issues
Topic: Time For New Car?
Replies: 34
Views: 2372

Re: Time For New Car?

As for the dude who poo-poos the latest safety upgrades, I submit that they are nothing short of breathtaking. The Insurance Institute for Highway Safety agrees. In the approximate order of importance they are: Autonomous emergency braking Backup camera Rear collision mitigation Lane keeping assist...
by Watty
Mon May 21, 2018 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Buy this home?
Replies: 39
Views: 3840

Re: Buy this home?

Housing prices are ridiculous everywhere. Not even close to being true, the median sales price of existing single family homes in the entire US was $245,500 last quarter. https://www.nar.realtor/sites/default/files/documents/metro-home-prices-q1-2018-single-family-2018-05-14.pdf https://www.nar.rea...
by Watty
Mon May 21, 2018 10:22 pm
Forum: Personal Consumer Issues
Topic: International travel for Christmas
Replies: 26
Views: 1305

Re: International travel for Christmas

Any suggestions? Just as standard practice be sure to double check the expiration dates on the passports, as I recall kids passports do not last as long. Some countries require that your passport is valid for six months after your expected return date. I have heard of people getting caught on both ...
by Watty
Mon May 21, 2018 8:49 pm
Forum: Personal Consumer Issues
Topic: Time For New Car?
Replies: 34
Views: 2372

Re: Time For New Car?

Good post. What are the "safety updates"? The driver death rate one way to measure the safety improvements. I am more familiar with the Corolla since that is what I bought in January. The Corolla had a driver death rate of 43 per million registered years in 2014, back in 2004 it was 79 so there has...
by Watty
Mon May 21, 2018 7:41 pm
Forum: Personal Consumer Issues
Topic: Time For New Car?
Replies: 34
Views: 2372

Re: Time For New Car?

A lot depends on your means but 12 years is respectable run for a car. At this point you could likely sell it for a non-trivial amount too. Safety equipment has improved a lot in the last 12 years and it may not even have ESC which became standard in 2012. It depends on your means but a significant ...
by Watty
Mon May 21, 2018 8:53 am
Forum: Personal Consumer Issues
Topic: Best used SUV, Wagon, Hatch, Pickup under $10k
Replies: 34
Views: 2725

Re: Best used SUV, Wagon, Hatch, Pickup under $10k

A big question is how much you can work on the car yourself. Buying something like a ten year old SUV might make sense if you can maintain it yourself but that could be a money pit of you have to take it into a mechanic everytime some work needs to be done. If you can't do most of the work on a car ...
by Watty
Mon May 21, 2018 8:33 am
Forum: Personal Consumer Issues
Topic: Buy now and wait one more year to move in?
Replies: 17
Views: 1964

Re: Buy now and wait one more year to move in?

We could move now and commute, but it is not ideal (45-55 minutes each way). I am likely to get a job in one year that is 10 minutes from the house we like the most. What happens if you can't actually get that job? That said, when you subtract out vacations and holidays there are about 220 working ...
by Watty
Sun May 20, 2018 10:39 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a Vacation Rental Property as an Investment
Replies: 53
Views: 4074

Re: Buying a Vacation Rental Property as an Investment

Your parents would be doing a lot of the work and could not schedule any travel during the summer months. They will also probably need to be there when people arrive so they will have to work their schedules around that. It would be good to price it as if you were using a property management company...
by Watty
Sun May 20, 2018 10:18 pm
Forum: Investing - Help with Personal Investments
Topic: Investments that are unique *and* sensible?
Replies: 12
Views: 1329

Re: Investments that are unique *and* sensible?

I would really question looking for "unique" investments. While there can be a valid roll for things like a SPIA in a retirement plan sticking with something like a simple three fund portfolio would be my first choice. With the current interest rates I am really less that lukewarm on I bonds as an i...
by Watty
Sun May 20, 2018 9:56 pm
Forum: Personal Finance (Not Investing)
Topic: Considering Buying a Home, Seeking Advice
Replies: 16
Views: 1174

Re: Considering Buying a Home, Seeking Advice

the fact that a motel is next door No, don't buy that house. There are worse things that it could be next to. I was once in a dorm that was next to a fire station. If it is fairly priced being in a less desirable location could mean that the house itself is a better house that has been discounted b...
by Watty
Sun May 20, 2018 9:29 pm
Forum: Personal Finance (Not Investing)
Topic: Is there a phrase for that?
Replies: 14
Views: 1121

Re: Is there a phrase for that?

It took me a bit but I figured out what you are talking about. About five years before I retired I was doing pretty good financially but I was not quite to the point of being able to retire. At that point I cut my retirement savings to just be enough 401k contributions to get my employers match. I u...
by Watty
Sun May 20, 2018 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire? Input and advice is welcome!
Replies: 29
Views: 3660

Re: Can I retire? Input and advice is welcome!

Moreover, I'm really looing forward to having free time and doing all of the hobbies and things I've put off for the last 30 year of my working career. How much will those cost? One pitfall of retirement is that you have more time to spend money so it is possible to have higher expenses once you re...
by Watty
Sun May 20, 2018 4:00 pm
Forum: Personal Consumer Issues
Topic: Rental cars in Europe
Replies: 33
Views: 1924

Re: Rental cars in Europe

One thing to watch out for with two rental car reservations is that you should use different names. I they see two reservations for John Smith at the same time they may assume that you make a mistake and accidentally double booked cars. I was told I needed an International Driving Permit, which I we...
by Watty
Sun May 20, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Life Changes
Replies: 27
Views: 3085

Re: Life Changes

Be sure to find out if you can get the permits for a septic system or a sewer hookup and find out how much that will cost. Also check on the quality of the schools in that area. To me there are way too many moving parts and it would be a lot simpler if you just bought the property and built at the s...
by Watty
Sun May 20, 2018 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Converting property in to neighborhood park. Trust needed?
Replies: 20
Views: 1187

Re: Converting property in to neighborhood park. Trust needed?

It might make more sense to sell all the property and then use the money to establish a park in a better location.

If there is a HOA then that would be the logical group to manage the property.
by Watty
Sun May 20, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Considering Buying a Home, Seeking Advice
Replies: 16
Views: 1174

Re: Considering Buying a Home, Seeking Advice

I currently am interested in a small home in a nice location, which is priced at $62,500 for about 550 square feet plus an unfinished basement. ...... my monthly payments would be about $280/month. ..... I've always felt that rent was overpriced in my area, and the though of paying $600/month in re...
by Watty
Sun May 20, 2018 10:44 am
Forum: Personal Consumer Issues
Topic: Air conditioner recommendations?
Replies: 17
Views: 1067

Re: Air conditioner recommendations?

But do you think we should look at other brands? Any of the major brands will be fine. You should really get quotes from several companies since prices can vary greatly. You did not say how old the rest of your system is but it sounds like this guy has just been patching it together and that may be...