Search found 4013 matches

by 22twain
Thu Mar 28, 2024 10:46 am
Forum: Personal Finance (Not Investing)
Topic: How many credit cards do you have
Replies: 95
Views: 4361

Re: How many credit cards do you have

mptfan wrote: Thu Mar 28, 2024 10:13 am
nostresshere wrote: Thu Mar 28, 2024 9:37 am And yes, I have lots of them, getting 5% cash back on a few. People that pass that up are just ______. (you fill in the blank)
... "prioritizing simplicity."
"rich enough that they have no urge to sweat the small stuff."
by 22twain
Thu Mar 28, 2024 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Calculator With SS Bridge.
Replies: 7
Views: 557

Re: Retirement Calculator With SS Bridge.

meowcat wrote: Thu Mar 28, 2024 4:55 am it's not clear if success includes the bridge.
First run the default scenario ($30000 annual expenses, $750000 initial portfolio which includes any "bridge" to Social Security) and look at the results.

Then add $30000 Social Security starting in 2034 (ten years from now), and run it again. See the difference?

This is a somewhat extreme example, because after 10 years, SS covers all expenses, leaving the portfolio to grow or decline unchecked. If SS accounts for only a fraction of expenses after it starts, the effect on the "spaghetti graph" is more subtle.
by 22twain
Tue Mar 26, 2024 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: How many credit cards do you have
Replies: 95
Views: 4361

Re: How many credit cards do you have

We have a total of four, maybe five credit cards. 1. Joint Citi Rewards+ Mastercard. This was originally an AT&T Universal Mastercard, dating from 1991. We use it for groceries, house stuff, church donations, eating out together, and traveling together. 2. My Apple Card, dating from 2020. I use this for almost all of my personal expenses, in person and online. 3. My Truist (ex SunTrust) VISA, dating from about 2010. Before I got the Apple Card, I used it for in-person personal expenses. I still use it once or twice a month to keep it active. 4. My Chase Freedom VISA, dating from about 2005. It's a descendant of my original VISA card from the early 1980s, although the inception date didn't carry over. It was originally my only personal c...
by 22twain
Tue Mar 26, 2024 2:47 pm
Forum: Personal Investments
Topic: Thinking of Switching From Big Name Manager to Vanguard
Replies: 20
Views: 2268

Re: Thinking of Switching From Big Name Manager to Vanguard

TTR wrote: Tue Mar 26, 2024 2:30 pm How is it reccomended to display ones financial specifics both accurately and annonymously?
viewtopic.php?f=1&t=6212
by 22twain
Tue Mar 26, 2024 2:41 pm
Forum: Personal Investments
Topic: My Portfolio-New Member
Replies: 7
Views: 640

Re: My Portfolio-New Member

GoCanes wrote: Tue Mar 26, 2024 12:02 pm Also, can someone run Monte Carlo to see how long money will last
Thanks
Another tool you can try is http://www.firecalc.com/ .
by 22twain
Mon Mar 25, 2024 3:13 pm
Forum: Personal Investments
Topic: Trying to determine cost basis of account without any records
Replies: 13
Views: 786

Re: Trying to determine cost basis of account without any records

canderson wrote: Mon Mar 25, 2024 1:52 pm The original transaction for VGHCX was a small buy on 7/24/2020 and the share price was $117.96. A larger buy on 1/16/2003 was done and the share price was $98.40.
Is that really 2020, or should it be 2002?
by 22twain
Mon Mar 25, 2024 9:52 am
Forum: Investing - Theory, News & General
Topic: just a general comment about "too conservative" investors here
Replies: 246
Views: 40586

Re: just a general comment about "too conservative" investors here

Valuethinker wrote: Mon Mar 25, 2024 6:46 amthere was Due South (about a Mountie in Chicago) but that was filmed in Toronto**.
I once saw a crime show (might even have been that one) that was supposedly set in Chicago. In the background of a street scene, I saw a Toronto streetcar cross an intersection.

The unused lower level of the Bay Street subway station in Toronto sometimes pretends to be in New York.
by 22twain
Sun Mar 24, 2024 9:06 am
Forum: Personal Investments
Topic: Cost Basis question when sell all shares of mutual fund
Replies: 19
Views: 1458

Re: Cost Basis question when sell all shares of mutual fund

If he started investing in that fund before 2011 (or whenever), doesn't that mean Vanguard won't report cost basis for those early shares, and he'll have to dig that out of his transaction records?
by 22twain
Sun Mar 24, 2024 2:04 am
Forum: Personal Consumer Issues
Topic: Improving the sound from t.v.
Replies: 30
Views: 1876

Re: Improving the sound from t.v.

I am looking for a relatively inexpensive box that would input the optical audio out from the t.v. - that's the only option - and output to the speaker wires That’s called a receiver or amplifier. Common piece of stereo or home theater gear but not typically compact. That's the kind of setup I've used for about 35 years now. However, I started out with a traditional stereo audio system with turntable, CD player, receiver and speakers. When I got a new TV back then, with an audio output in addition to the built-in speakers, I connected those outputs to the receiver. Then I was able to play the TV audio through my stereo system for much better sound. My current setup has different equipment (both on the TV and audio sides), but it's the same...
by 22twain
Sat Mar 23, 2024 9:19 am
Forum: Personal Consumer Issues
Topic: Paying Electric Bill With Checking
Replies: 49
Views: 3537

Re: Paying Electric Bill With Checking

When we got married and moved into our house 36 years ago this summer, we set up our utilities with automatic bank draft (ACH pull) from our new joint checking account:

Electricity, water, sewer and garbage pickup from our city (single payment).
Gas from a regional public authority.
Landline phone from AT&T.

We've had no problem with any of them. Still in the same house, same utilities, same checking account at the same bank which has been under four different names because of mergers.
by 22twain
Sat Mar 23, 2024 7:10 am
Forum: Personal Consumer Issues
Topic: What Toys Have You Bought That Have Been Worth it?
Replies: 255
Views: 18475

Re: What Toys Have You Bought That Have Been Worth it?

Nicolas wrote: Sat Mar 23, 2024 12:15 am I just upgraded my old 2016 iPhone SE to a iPhone15. It’s so much better.
If this fall's iPhone 16 Pro has the 5x telephoto lens that the 15 Pro Max now has, as rumors suggest, I'll upgrade to it from my XR. Not currently interested in the Max because of its size
by 22twain
Fri Mar 22, 2024 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Do you assume legislative cuts in Social Security and other federal benefits?
Replies: 49
Views: 2124

Re: Do you assume legislative cuts in Social Security and other federal benefits?

We are now both collecting SS. We did not specifically assume or plan for a cut in our benefits. Nevertheless, we happened to end up with enough assets that we can easily cover the cut projected by the SSA in the absence of legislative changes, if that comes to pass.

For Medicare, the situation is more complicated, as described here for example:

https://www.kff.org/medicare/issue-brie ... -solvency/

We could also cover some increases in copays, Medigap premiums, etc., but it's hard to say how much might be necessary, because we don't know how much healthcare we'll end up needing.
by 22twain
Fri Mar 22, 2024 1:55 pm
Forum: Personal Investments
Topic: When one is ready to retire and pull out of the market.
Replies: 44
Views: 4879

Re: When one is ready to retire and pull out of the market.

TheQuestionGuy wrote: Fri Mar 22, 2024 6:38 am Lets say you always had a magic number that when hit, one says "Cool, I am happy to retire with that amount and live how I want. Lets get out of the market."
What multiple of your estimated expenses in retirement is that number?

And at what age? Obviously you need more, the earlier you retire.
by 22twain
Thu Mar 21, 2024 12:39 pm
Forum: Personal Finance (Not Investing)
Topic: Can I take and additional QCD after taking RMD
Replies: 13
Views: 879

Re: Can I take and additional QCD after taking RMD

My understanding of Slott’s page is that after you have satisfied your RMD via some combination of non-taxable QCDs and taxable distributions, you can take further QCDs, and they will not be taxable, up to the $100k limit. However, they will not reduce the tax that you have already incurred.
by 22twain
Thu Mar 21, 2024 11:14 am
Forum: Personal Investments
Topic: How to Analyze an Income Fund's performance when losing value
Replies: 9
Views: 568

Re: How to Analyze an Income Fund's performance when losing value

Also note that the past couple of years have been terrible for almost all bond funds, which have seen their share values drop as the Fed raised interest rates. Who wants to pay face value for an old bond that yields 2% when they can buy a new bond that yields 5%? If the Fed really starts lowering interest rates later this year, as they said yesterday that they expect to do, then the share values of bond funds will start to recover.
by 22twain
Tue Mar 19, 2024 7:13 am
Forum: Personal Finance (Not Investing)
Topic: Online Social Security application [question]
Replies: 19
Views: 1656

Re: Online Social Security application [question]

Yes, I've read here that the SSA usually makes a followup phone call. One question that I've read they'll probably ask is whether your wife would like to receive (up to) six months of retroactive payments as an initial lump sum. This has the same effect as if she had filed to to start earlier, with a lower monthly benefit, with the first "n" payments "saved up" until now. If she wants the maximum monthly benefit going forward, she should not do this. The online application doesn't mention this possibility IIRC, which is probably why they ask about it in the followup call. I anticipated this issue by including it in my optional remarks at the end of my application: Remarks The following are your remarks: I wish to receive...
by 22twain
Mon Mar 18, 2024 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Online Social Security application [question]
Replies: 19
Views: 1656

Re: Online Social Security application [question]

My wife turns 70 on June 28th, so I filled out the application to start benefits in July and clicked done. Her 70th birthday is in June so you should request to start her benefit in June. First payment will be in July. To help eliminate any confusion re: benefit starting month and first payment month, you could add a comment that she wants to start her benefit at age 70, with maximum delayed retirement credits. I applied online last October, for benefits to start at age 70 in January, first deposit in February. After I submitted the application, I was given the opportunity to save/print a copy of the information that I had entered: Background Information for 22 TWAIN Your information was received on October xx, 2023 at hh:mm:ss AM. [snip l...
by 22twain
Mon Mar 18, 2024 7:12 am
Forum: Personal Investments
Topic: Can I retire with $1.75M at age 43?
Replies: 169
Views: 12560

Re: Can I retire with $1.75M at age 43?

Have you investigated how much Social Security you'll receive, at least under the current rules? (Of course, this is subject to the future machinations of our Congress-critters, but it will be at least a starting point.)

At age 43, you've probably worked for about 20 years. Your projected benefit will depend a lot on your total SS-covered earnings to date, with your earlier earnings being "raised" according to the national average wage index. At the upper extreme, if your current salary is around $160K and you've been making that amount (inflation adjusted) for most of your career, you could be in line for about $45K of SS per year (in today's dollars!) if you start collecting at age 70, even if you never work for pay again.
by 22twain
Sun Mar 17, 2024 1:37 pm
Forum: Personal Investments
Topic: ETF vs Index Fund
Replies: 6
Views: 858

Re: ETF vs Index Fund

Which ETFs are you looking at?
by 22twain
Sat Mar 16, 2024 6:30 am
Forum: Personal Investments
Topic: MIL's inherited Taxable (sell right away?)
Replies: 3
Views: 772

Re: MIL's inherited Taxable (sell right away?)

runner9 wrote: Sat Mar 16, 2024 6:24 am The gain in this fund is fully taxable at her normal rate instead of capital gains rate if we sell before she's owned it 12 months, correct?
No, inherited assets in a taxable account are considered to be long-term regardless of how long she holds them.
by 22twain
Sat Mar 16, 2024 3:58 am
Forum: Personal Consumer Issues
Topic: Utilities cost?
Replies: 57
Views: 4394

Re: Utilities cost?

Our monthly water meter readings are usually in the 500s. On our bill, they’re multiplied by a factor of 10 to get the gallons that we’re charged for.
by 22twain
Fri Mar 15, 2024 10:26 am
Forum: Personal Consumer Issues
Topic: Utilities cost?
Replies: 57
Views: 4394

Re: Utilities cost?

We live in the Southeast, so we pay more for gas (heat) in the winter, and more for electricity (A/C) in the summer. Last year we averaged about $314 per month for everything (gas, electricity, water, sewer, garbage pickup). In 2022, $316. In 2021, $329.

This is for a 1500-1600 sq ft house, two people. No hot tub.
by 22twain
Fri Mar 15, 2024 6:50 am
Forum: Personal Investments
Topic: Cash or CD's Instead of Bond Funds
Replies: 61
Views: 5678

Re: Cash or CD's Instead of Bond Funds

DireStraits wrote: Thu Mar 14, 2024 12:51 pm Is anyone holding cash
What does "cash" include, for you?
by 22twain
Fri Mar 15, 2024 6:32 am
Forum: Personal Consumer Issues
Topic: Need Help Finding a Hobby
Replies: 76
Views: 6392

Re: Need Help Finding a Hobby

Veiled wrote: Fri Mar 15, 2024 6:18 am Walk through a JoAnn or Hobby Lobby. [etc.]
in the same vein, check out hobby shows at local convention centers and other venues. Coins, stamps, postcards (these are often combined), comics, model trains, guns, hunting/fishing, horses, boats, classic cars...
by 22twain
Thu Mar 14, 2024 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Medicare and SS payment timing
Replies: 10
Views: 930

Re: Medicare and SS payment timing

I paid Medicare Part B premiums via EasyPay automatic ACH debits before starting SS at 70. I did not do anything to stop EasyPay explicitly.

My final EasyPay debit for $174.70 was in January. My first SS payment was for January but was actually paid in February, with $174.70 withheld for Medicare. There was no EasyPay debit in February. A few days ago I received a paper check from the US Treasury for $174.70.
by 22twain
Thu Mar 14, 2024 6:09 am
Forum: Personal Consumer Issues
Topic: Website Provider Recommendation
Replies: 14
Views: 1199

Re: Website Provider Recommendation

bluebolt wrote: Thu Mar 14, 2024 5:34 am You have "UTF=8" for the <meta charset> attribute. It should be "UTF-8"
:oops: Thanks for catching that. I've fixed it. Both Safari and TextEdit (when rendering the HTML) tolerated '=' instead of '-' there.

I transcribed those bits of code by hand from the code for my own home page, and the two symbols are on adjacent keys, so it's an easy typo to make.
by 22twain
Thu Mar 14, 2024 5:15 am
Forum: Personal Consumer Issues
Topic: Website Provider Recommendation
Replies: 14
Views: 1199

Re: Website Provider Recommendation

Here's a bare-bones index.html that you can use as a template. It assumes the image file is named "'myimage.jpg". <!doctype html> <html lang="en-US"> <head> <meta charset="UTF-8"> <title> This appears in the title bar at the top of the browser window or tab </title> </head> <body> <h1> Page heading which displays in large bold font </h1> <p> <img src="myimage.jpg"> </p> <p> A paragraph of text in your browser's default font. You can have more of these if you want more paragraphs. Note the image above is in its own "paragraph". </p> </body> </html> I created this file using the TextEdit app on my Mac. When I double-clicked on it, my default browser (Safari) opened it and displayed it as a web...
by 22twain
Tue Mar 12, 2024 2:04 am
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 139
Views: 12989

Re: Have any of you Frugal Zebras Changed Your (Spending) Stripes?

I drive to hobby-related events in my region about once per month. I used to do these as day-trips, even if it meant a 3-4 hour drive each way.

Now, I stay over a night or two, taking a more leisurely drive with some sightseeing, one or both ways, and/or doing some extra sightseeing at my destination.

I've also upgraded the level of accommodations that I use on these and other road trips, from Super 8 / Days Inn / Motel 6 level to Hampton Inn level.
by 22twain
Mon Mar 11, 2024 11:13 pm
Forum: Personal Finance (Not Investing)
Topic: How Far in Advance to Apply for Social Security
Replies: 56
Views: 11235

Re: How Far in Advance to Apply for Social Security

Completing this saga, my first SS payment now shows as "Pending" in my checking account. But wait... there's more! 8-) Yesterday, March 11, I received a paper check via snail-mail from the US Treasury for $174.70. I had been paying my Medicare Part B premium via Easy Pay (direct draft from my checking account). The last such payment was in January. My first SS payment in February, being a month in arrears, had January's Medicare part B premium withheld from it. So I double-paid my January premium, and this is the refund of the extra payment. I would have thought they would simply credit the amount directly to my checking account, because I use(d) the same account for direct debits of Medicare premiums and direct deposits of SS. B...
by 22twain
Sun Mar 10, 2024 8:06 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question
Replies: 24
Views: 1995

Re: Tax question

Younglearner wrote: Sun Mar 10, 2024 1:04 pmNever found something on the bogleheads that fully states the reasons why someone believes in 100% US stocks.
I'm sure you can find something in this "US vs. the world" mega-thread which is currently ongoing, with more than 5000 posts. :twisted:

viewtopic.php?t=409214
by 22twain
Sat Mar 09, 2024 10:55 pm
Forum: Investing - Theory, News & General
Topic: Question about bund funds, NAV, and growth
Replies: 7
Views: 952

Re: Question about bund funds, NAV, and growth

DavidJack wrote: Sat Mar 09, 2024 9:01 pm What makes the NAV move up or down at all then for a bond fund?
The resale values of the individual bonds in the fund move up and down in response to the interest-rate environment, just like with individual bonds that you might own.
by 22twain
Sat Mar 09, 2024 5:59 pm
Forum: Personal Consumer Issues
Topic: How much do you spend a month on food?
Replies: 336
Views: 30454

Re: What's normal for grocery costs for a family?

How many people are in your family?

$2K-$2.5K seems awfully high to me, but you might have six kids for all I know.
by 22twain
Sat Mar 09, 2024 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Mega Thread on Speed of 2023 Tax Refunds
Replies: 52
Views: 6140

Re: Mega Thread on Speed of 2023 Tax Refunds

Filed both federal and state returns online 2/29.

Federal refund arrived yesterday, 3/8, via direct deposit.

State (SC) hasn't taken our money yet.
by 22twain
Sat Mar 09, 2024 12:02 am
Forum: Investing - Theory, News & General
Topic: Social security approval
Replies: 15
Views: 2121

Re: Social security approval

Some people are required to do a phone interview to review the application. In our case, they sent a letter asking us to contact a particular person in an SSA office in another state to set up a date and time for the phone interview. At the end of the interview, my husband was approved and things progressed very quickly after that. I was made to jump through a few hoops before getting approved, so it took longer. This may depend on how explicitly you specify your wishes in your application. I delayed until age 70 in order to receive the maximum monthly benefit. At the point in the online application where I had to specify my starting date, I gave the following answers: Benefits to start in 10/2023: No Benefits should start in: 01/2024 The ...
by 22twain
Fri Mar 08, 2024 1:30 pm
Forum: Investing - Theory, News & General
Topic: Social security approval
Replies: 15
Views: 2121

Re: Social security approval

Here's my full timeline, from another thread. I applied for my benefit to start in January (payable in February). Yesterday I received an email telling me that my application had been approved. Just now I logged onto my SS account and saw the following: 1. We received your online application on October 19, 2023. 2. We conducted a review of your application on January 3, 2024. 3. We have made a decision to approve your application on January 3, 2024. We have sent a detailed notice to you with your benefit information. You should receive your notice within 10 to 15 days. As I noted in a previous post, I received my "Notice of Award" on January 12. The next day, I mailed my Form W-4V to my local SS office, with my desired federal tax...
by 22twain
Wed Mar 06, 2024 9:11 am
Forum: Investing - Theory, News & General
Topic: RMD withdrawal
Replies: 5
Views: 896

Re: RMD withdrawal

After you take the RMD, will you use it to cover part of your spending for this year, or will you re-invest it in your taxable account(s)?

If you're going to re-invest it, I would use some of the VTSAX for the RMD, and then re-invest it in VTSAX in taxable. This would be the most tax-efficient path for the money, going forward.
by 22twain
Tue Mar 05, 2024 11:46 am
Forum: Personal Investments
Topic: VTI
Replies: 21
Views: 4751

Re: VTI

Cocoa Beach Bum wrote: Tue Mar 05, 2024 9:44 am I don't think there were any ETFs back in 2012
SPY was launched in 1993. It was the first ETF in the US.

https://en.wikipedia.org/wiki/SPDR_S%26P_500_Trust_ETF

VTI was launched in 2001.
by 22twain
Tue Mar 05, 2024 12:43 am
Forum: Personal Consumer Issues
Topic: sauna or hot tub, which to get and why?
Replies: 52
Views: 4859

Re: sauna or hot tub, which to get and why?

123 wrote: Mon Mar 04, 2024 11:12 am A sauna is strictly an indoor experience
...except in cultures where it's customary to run outside afterwards and jump into a nearby lake. In winter, one cuts a hole in the ice beforehand. :wink:
by 22twain
Sat Mar 02, 2024 11:45 pm
Forum: Personal Consumer Issues
Topic: Trip from KC to Bozeman
Replies: 41
Views: 2926

Re: Trip from KC to Bozeman

mhc wrote: Sat Mar 02, 2024 12:06 pm KC to Sioux Falls:
Pony Express museum in St. Joseph
The Patee House (hotel) museum three blocks up the street is also worth visiting. The Pony Express's post office was located there. There are exhibits about the Overland Mail stagecoach service, and other transportation related stuff. Oh, and Walter Cronkite's father's dental office.

I got a lot out of my stop in St. Joseph, on my way between Omaha and Kansas City some years ago.
by 22twain
Sat Mar 02, 2024 12:47 am
Forum: Personal Investments
Topic: SS Delay Bridge - But how?
Replies: 21
Views: 2241

Re: SS Delay Bridge - But how?

Woodnut wrote: Fri Mar 01, 2024 12:35 pm I will be retiring in September this year (at age 65) and would like to set up a 5 year social security delay bridge to last until I turn 70 in 2029.
What percentage of your savings/investments are your projected annual expenses? (including health insurance and taxes)

What percentage of your expenses will SS cover when you finally start collecting it?
by 22twain
Thu Feb 29, 2024 4:12 pm
Forum: Personal Consumer Issues
Topic: Things to do in Minnesota
Replies: 43
Views: 3299

Re: Things to do in Minnesota

If the kids are interested in trains, Duluth has the Lake Superior Railroad Museum. It runs excursion trains (the North Shore Scenic Railroad) along the lake to Two Harbors. I’ve never done it, but I want to do it someday.
by 22twain
Thu Feb 29, 2024 9:12 am
Forum: Personal Investments
Topic: Retiring in one year - How to generate a safe cash flow?
Replies: 19
Views: 2980

Re: Retiring in one year - How to generate a safe cash flow?

I may have simply overlooked it, but I don’t think you’ve mentioned how much cash flow you need or want. What are your anticipated expenses during retirement?
by 22twain
Wed Feb 28, 2024 10:10 am
Forum: Investing - Theory, News & General
Topic: "How much should I have in my 401k" article for various ages - thoughts?
Replies: 45
Views: 6375

Re: "How much should I have in my 401k" article for various ages - thoughts?

GreendaleCC wrote: Wed Feb 28, 2024 9:11 am
By Age 50
If you don’t, now would be a good time to start making those catch-up contributions and to start saving in other retirement vehicles such as a Roth or Traditional IRA as well.
Yikes
Around here, a lot of people would say you're supposed to be FIRE'd by age 50!
by 22twain
Tue Feb 27, 2024 10:19 pm
Forum: Personal Finance (Not Investing)
Topic: When did your Net Worth surpass your lifetime earnings?
Replies: 93
Views: 11844

Re: When did your Net Worth surpass your lifetime earnings?

I started my first full-time job at age 29, and retired at 63. At that time, my portfolio (in today's dollars) was about 60% of my total adjusted earnings (including employer contributions to retirement plans, in today's dollars, with each year's earnings adjusted for inflation). Now, at age 70, my portfolio is about 70% of my total adjusted earnings in today's dollars. About 25%-30% of my current portfolio stems from an inheritance that I received in my mid 50s. So if I hadn't had the inheritance, the percentages above would be about 42%-45% at age 63 and about 49%-52% now. While working, I saved an average of 25% of my earnings (including employer contributions to retirement), lower in the early years and higher in the later years. I'm an...
by 22twain
Tue Feb 27, 2024 8:59 am
Forum: Personal Finance (Not Investing)
Topic: How to deal with/spend too much money?
Replies: 91
Views: 9047

Re: How to deal with/spend too much money?

4nursebee wrote: Tue Feb 27, 2024 5:24 am I know there have to be related threads on the topic, feel free to post them.
Indeed, this topic comes up over and over.

https://www.google.com/search?sitesearc ... spend+more
by 22twain
Mon Feb 26, 2024 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: When did your Net Worth surpass your lifetime earnings?
Replies: 93
Views: 11844

Re: When did your Networth surpass your lifetime earnings?

For this comparison, shouldn't we adjust previous years' earnings upwards for inflation, in order to express everything in today's dollars?
by 22twain
Sat Feb 24, 2024 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Debit card vs. credit card at the ATM
Replies: 11
Views: 1342

Re: Debit card vs. credit card at the ATM

To me, ten bucks plus a few days' interest, caused by my own mistake, isn't enough to get worked up over.
by 22twain
Fri Feb 23, 2024 10:35 pm
Forum: Personal Finance (Not Investing)
Topic: PIA Question
Replies: 10
Views: 1211

Re: PIA Question

rockstar wrote: Fri Feb 23, 2024 10:13 pm If I’m already over the second bend, and both the bend and my wages increase by the same percentage, then once I’m over, I’ll always be over even if I don’t work another year, right?
Yes. To be more precise in terminology, "wages" = "indexed earnings", i.e. your wages after applying the indexing factors. The indexing factors increase each year, not only for your current year's earnings (which are zero if you stop working) but also for all your previous years' earnings.
by 22twain
Fri Feb 23, 2024 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: PIA Question
Replies: 10
Views: 1211

Re: PIA Question

rockstar wrote: Fri Feb 23, 2024 9:35 pm But I have no clue how the bends are determined.
From the "horse's mouth": https://www.ssa.gov/oact/cola/piaformula.html

That page shows how the SSA calculated this year's (2024) bend points, starting with the bend points for 1979 (which I assume are written into law somewhere) and the average wage indices (AWI) for 1977 and 2022.

If the AWI increases by 5% from 2022 to 2023, then the bend points will also increase by 5% from 2024 to 2025.

If you have no earnings this year that contribute to the total indexed earnings for your highest 35 years, then your total indexed earnings and your averaged indexed monthly earnings (AIME) will also increase by 5%, matching the increase in the AWI.
by 22twain
Fri Feb 23, 2024 3:17 pm
Forum: Personal Finance (Not Investing)
Topic: Debit card vs. credit card at the ATM
Replies: 11
Views: 1342

Re: Debit card vs. credit card at the ATM

The two cards have the same PIN. In retrospect, that was a mistake, and I should change one of them. I didn't think about it because I don't ever remember using the PIN on a credit card.