Search found 407 matches

by Hub
Wed Jan 22, 2020 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Definition of a “Business Meal”
Replies: 10
Views: 1540

Re: Definition of a “Business Meal”

Very helpful. Thank you skeeter.
by Hub
Wed Jan 22, 2020 10:17 am
Forum: Personal Finance (Not Investing)
Topic: What are you doing differently this year?
Replies: 40
Views: 2818

Re: What are you doing differently this year?

I'm going to make sure this year's discretionary spending doesn't exceed last year's for the 1st time since 2015. The lifestyle inflation has been within reason and hasn't included the big stuff like houses and cars. But I feel like we spent almost whatever we wanted on 2019 and that needs to level ...
by Hub
Mon Sep 30, 2019 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Roth 401k or 401k: diversify tax risk or hit SS limits
Replies: 14
Views: 1083

Re: Roth 401k or 401k: diversify tax risk or hit SS limits

OP, I can see your logic. You've already made the decision to pre-pay taxes by contributing to Roth401k. So long as this doesn't cause any unforeseen phase-outs like child tax care credit, student loan interest credit, etc, then I could see going even heavier into roth401k to get some SS tax free mo...
by Hub
Mon Sep 09, 2019 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Have you been doing better than your parents?
Replies: 30
Views: 2346

Re: Have you been doing better than your parents?

Yes we're making a fair amount more than our parents, but maybe not when you consider their 80% pensions that kicked in at age 55 for the rest of their life (both my and wife's father are Fed.gov retirees.) I suspect that if we weren't Bogleheads with our investments that both sets of parents would ...
by Hub
Sun Aug 04, 2019 10:43 am
Forum: Personal Finance (Not Investing)
Topic: Looking to move to another state.
Replies: 11
Views: 1309

Re: Looking to move to another state.

You have been living on $130k/year income and you are proposing to retire on $25k/yr SS plus what you can draw from your $1M in savings. If you take a 4%/year draw from the nest egg that and SS is only going to total half your current income. Sorry, I also think the math just isn't there. IMO, you ...
by Hub
Fri Jun 28, 2019 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Taking out a loan to build a commercial building
Replies: 27
Views: 1927

Re: Taking out a loan to build a commercial building

If your current income / cash flow can cover the new note with no consideration of the new business then I think you have a good chance to find a commercial lender willing to help. Wild Bill's post was spot on from the bank's perspective. My guess is this ends up being a 65% leverage deal unless you...
by Hub
Wed May 29, 2019 4:30 pm
Forum: Investing - Theory, News & General
Topic: Avoiding the echo chamber?
Replies: 22
Views: 2538

Re: Avoiding the echo chamber?

You could spend another 6-12 months on slice and dice with Swedroe and Ferri books if you want to keep on the same path while digging a bit deeper. Agree with the previous post that said to start running numbers as if you'll retire by 50 or whatever. An aggressive savings rate starting at 29 may hav...
by Hub
Wed May 29, 2019 4:19 pm
Forum: Investing - Theory, News & General
Topic: "Six Personal Finance Hacks..." article (pardon the hackneyed use of hack)
Replies: 3
Views: 1417

Re: "Six Personal Finance Hacks..." article (pardon the hackneyed use of hack)

The 1st point was actually really well said and resonated even with me, a 10 year veteran of frugality and saving. In some ways it was easier to live below my means when I made less. 1. Accepting that living below your means requires suppressing your ego to below your income. Spending above a certai...
by Hub
Mon May 27, 2019 4:23 pm
Forum: Investing - Theory, News & General
Topic: What goes wrong after index enlightenment
Replies: 41
Views: 5727

Re: What goes wrong after index enlightenment

The other issue is that someone else will eventually inherit this complex portfolio and have no idea what's in it or what to do about it. That causes them to go to an adviser or broker, who for an exorbitant fee will be happy to make it even more complicated. Rick Ferri Ha. So true. I slice and dic...
by Hub
Mon May 27, 2019 1:00 pm
Forum: Investing - Theory, News & General
Topic: [Fidelity Health Savings Account Mega-Thread]
Replies: 1042
Views: 112412

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Has anyone successfully made this transfer? Elements (Eli Lilly Federal Credit Union) AND TD Ameritrade (TDA) to Fidelity I was planning on doing this in the following steps: 1) Fidelity Online: "Transfer Assets from Another Financial Institution" ---- my TDA account (all assets) Should be in kind ...
by Hub
Mon May 20, 2019 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE - What am I missing in the News Stories
Replies: 223
Views: 15924

Re: FIRE - What am I missing in the News Stories

I like and prescribe to the FIRE philosophy though I'm still working. As a natural boglehead type this "new" plan (5 years in now) has served me well to ramp up savings, fight off lifestyle creep, and have a goal to work toward. I find it psychologically satisfying because I'm getting closer and clo...
by Hub
Tue Mar 19, 2019 12:51 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1.5 million house?
Replies: 125
Views: 9600

Re: Can I afford a $1.5 million house?

Go for it. Sounds like you have a nice family and I don't think you can screw that kind of income up on this level of house. Just be careful with the boats and airplanes before you hit 40.
by Hub
Tue Feb 26, 2019 11:05 am
Forum: Investing - Theory, News & General
Topic: "Warren Buffett says if you invested $10,000 in the S&P 500 in 1942, you'd have $51 million today"
Replies: 110
Views: 8270

Re: "Warren Buffett says if you invested $10,000 in the S&P 500 in 1942, you'd have $51 million today"

Everyone who sees compound gain tables think I should puy away x for my kid/grandkid when they are born and in 50 years they will be set for life. Havent heard many stories of it actually being done. While true, it isn't a crazy thought that a moderately well off grandparent could set up a $150k tr...
by Hub
Mon Feb 25, 2019 1:32 pm
Forum: Investing - Theory, News & General
Topic: [Fidelity Health Savings Account Mega-Thread]
Replies: 1042
Views: 112412

Re: Rumor mill - Fidelity starting individual HSA's Nov. 15th

Thanks everybody for the great information here! My timeline wasn't as quick as some of the reports here, but it looks like I am getting there. I am transferring from Elements (formerly Eli Lilly) CU, and the linked TDAmeritrade account. I went the long route by selling my positions at TDAmeritrade...
by Hub
Wed Jun 20, 2018 12:59 pm
Forum: Personal Finance (Not Investing)
Topic: Why pay cash for a car?
Replies: 250
Views: 36509

Re: Why pay cash for a car?

Interesting perspective. I guess it depends on how much cash you have! Our cash on hand tends to be some sort of emergency fund slash to-be-invested money that fluctuates between $30k and $60k just depending on when we push in for annual big ticket things like solo401k, roths, HSA, property taxes, e...
by Hub
Wed Jun 20, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: Why pay cash for a car?
Replies: 250
Views: 36509

Re: Why pay cash for a car?

One thing to watch out for is that I have found when paying cash for a car is that I tend to buy less expensive cars and to keep my prior car a bit longer. I don't often write five figure checks so when I do adding a few thousand dollars to get the next higher trim level is a lot harder than having...
by Hub
Tue Jun 12, 2018 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: Are you including SS in your planning model? Are the benefits really that high?
Replies: 148
Views: 13537

Re: Are you including SS in your planning model? Are the benefits really that high?

I include mine in future cash flow projections and I fully expect it to remain a significant amount of money in 20-30 years when I start taking it. That said my goals are to get to a spot financially to where a very early retirement is an option and I do not factor social security into the lump I ne...
by Hub
Wed Apr 25, 2018 11:13 am
Forum: Personal Finance (Not Investing)
Topic: How to be a good executor to family
Replies: 44
Views: 5056

Re: How to be a good executor to family

I think a high percent of us BH's will be executors due to our nature. I expect to be one for my parents and for my wife to be one for hers. Thank you for this informative thread. I've watched my parents be executors on their parents and brothers' estates and nothing contentious occurred. The one of...
by Hub
Mon Mar 19, 2018 4:14 pm
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 249
Views: 40474

Re: Those with high savings rate: why?

Freedom, options, choices. I want to be able to do what I want to do each day I wake up as soon as possible. We save 50% or more, but spending continues to rise. Fighting off lifestyle creep as our kids age and we continue to earn more is tough. I can only image what our peers that aren't trying to ...
by Hub
Mon Mar 12, 2018 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: Interesting interactive guide to early retirement & FI
Replies: 29
Views: 4759

Re: Interesting interactive guide to early retirement & FI

Thanks for posting this. Great layout and presentation without being much trouble to get the numbers into. Especially for those of us that have them all ready to go in a spreadsheet for such an occasion. :)
by Hub
Mon Feb 26, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k Tax documents
Replies: 6
Views: 814

Re: Solo 401k Tax documents

Spirit Rider, I really appreciate your contributions on tax threads like this. You are a great help to me and I'm sure others.
by Hub
Tue Feb 20, 2018 4:53 pm
Forum: Personal Finance (Not Investing)
Topic: Cut down on retirement savings to build emergency fund
Replies: 20
Views: 1824

Re: Cut down on retirement savings to build emergency fund

I would use a credit card or HELOC to fund a temporary emergency cash need before I would lose Roth contribution space or pull out of one. Assuming that I had positive cash flow and the ability to tighten up on expenses for a few months to get back out of the hole. And let's be honest, what emergenc...
by Hub
Mon Feb 05, 2018 2:11 pm
Forum: Investing - Theory, News & General
Topic: The RBD (Really Bad Days) database
Replies: 33
Views: 5440

Re: The RBD (Really Bad Days) database

I bought $10k of a small cap value etf today down 4.50% over the past 5 days with cash I had been meaning to get invested into the market. Nothing crazy, but it was the nudge I needed.
by Hub
Mon Feb 05, 2018 1:06 pm
Forum: Personal Investments
Topic: Selling Stock within UTMA
Replies: 6
Views: 1304

Re: Selling Stock within UTMA

Thanks for the info here. I was about to set my child's UTMA to auto-invest monthly into a small cap value fund, but I don't feel great about creating 12 tax lots per year.
by Hub
Mon Jan 22, 2018 3:40 pm
Forum: Investing - Theory, News & General
Topic: Lower tax rates for 7 yrs.-Are you switching to Roth 401K
Replies: 65
Views: 7476

Re: Lower tax rates for 7 yrs.-Are you switching to Roth 401K

There isn't a fundamental change in tactics here: try to drop into the lowest brackets and then start utilizing Roth. Now it's easier to drop into the lowest bracket due the higher standard deduction. That 12% band is pretty wide: MFJ 12% tops at $77,400 with a $24,000 standard deduction. The 12% b...
by Hub
Mon Jan 22, 2018 11:04 am
Forum: Investing - Theory, News & General
Topic: "The Pain of Discipline or the Pain of Regret?"
Replies: 33
Views: 5001

Re: "The Pain of Discipline or the Pain of Regret?"

That's funny that people see the rise of stocks as a reason to buy them. I find it much harder stay invested in stocks now, when they are flying high, then after they have crashed and are cheap. I am staying the course, but this overpriced market is testing me. :greedy This is my brain also. I've b...
by Hub
Tue Jan 16, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Best High Interest Banking Accounts (With Bill Pay): (Checking/Savings/MMA?)
Replies: 8
Views: 1363

Re: Best High Interest Banking Accounts (With Bill Pay): (Checking/Savings/MMA?)

I've seen one at 3.51% on your 1st $30k, but requires 20 or 30 debit card transactions. Thanks for these suggestions that allow money to just sit.
by Hub
Tue Jan 16, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Friend Got Laid Off - Advice Needed
Replies: 48
Views: 7414

Re: Friend Got Laid Off - Advice Needed

Your friend has done a wonderful job saving and is basically a millionaire by 40. Between that and his trade I would say he has a wide array of options in front of him. Even if that means doing something a bit different than his current niche of expertise. I would say to him be proud that you've pre...
by Hub
Tue Jul 11, 2017 9:55 am
Forum: Personal Finance (Not Investing)
Topic: How much of an increase of salary would you expect before switching jobs?
Replies: 94
Views: 8985

Re: How much of an increase of salary would you expect before switching jobs?

For me it has always come down to three factors in the following order of priority: 1. Job satisfaction/happiness 2. Room for substantial income growth within my field 3. Competitive compensation today If I only had 1, I would be actively looking for a new job. If I had 1 and 3, I would be passivel...
by Hub
Mon Jul 10, 2017 2:44 pm
Forum: Personal Finance (Not Investing)
Topic: Helping Father Plan for Retirement (messy)
Replies: 26
Views: 3720

Re: Helping Father Plan for Retirement (messy)

The good news is that he has pensions and SS coming that will keep him living well enough even if he loses his nest-egg. He's done a pretty good job of saving from my perspective. The timeshare thing is tragic though.
by Hub
Mon Jul 10, 2017 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: What do you do when you run the numbers and don't like the answer that you get?
Replies: 29
Views: 4306

Re: What do you do when you run the numbers and don't like the answer that you get?

I typically just quit being so conservative on my expected real rate of return. Crank it up to 6 or 7% and see where that gets me. Then I tell myself I can always go back to a job with a pretty low income and still cover current living expenses need be. Of course I'm not close to pulling the plug or...
by Hub
Fri Jun 30, 2017 11:15 am
Forum: Personal Finance (Not Investing)
Topic: Can you share some of your financial goals?
Replies: 69
Views: 11006

Re: Can you share some of your financial goals?

In my best William Wallace (OK, Mel Gibson) voice: FREEDOM! Most days, I don't dislike my job, but if I didn't need the paycheck for financial security, I would do something else. I like to think I'd be productive, maybe start a company, write open source software, write books, or teach. Who knows,...
by Hub
Thu Jun 22, 2017 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?
Replies: 22
Views: 3453

Re: House Closing is Tomorrow! Here are the Closing fees .... am I being ripped off?

The $775 application fee seems fine to me in light of the 0% origination fee. It would be common to have to pay something there.

Crazy that commissions like this are considered normal.
by Hub
Fri Jun 16, 2017 11:33 am
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 12514

Re: Should I cancel my whole life policy?

Great news! Today, OP delivered.
by Hub
Mon Jun 12, 2017 12:40 pm
Forum: Personal Finance (Not Investing)
Topic: Can't decide how to get [paid: W-2 or 1099?]
Replies: 15
Views: 2349

Re: Can't decide how to get pay.

I bet the 1099 is your better option regardless of the FICA taxes. If your wife's income is enough for you to defer your entire $50k then I'm betting that's a 28% marginal tax rate at a minimum that you're avoiding with a SEP. Also you can probably deduct Schedule C business related expenses this way.
by Hub
Mon Jun 12, 2017 12:04 pm
Forum: Personal Finance (Not Investing)
Topic: Small company 401k
Replies: 30
Views: 3508

Re: Small company 401k

Interesting thread. I'm in a position to influence the next steps for my 100 employee company's 401k plan. I'll look at some of these options as well.
by Hub
Wed May 31, 2017 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Pensioner Envy!
Replies: 21
Views: 6460

Re: Pensioner Envy!

Thanks for the update. Good on you for wanting to help your parents and for having enough credibility that they are willing to listen to your suggestions. That said I sure am glad my father elected for the smaller pension that will go to my mother when/if she survives him. (she will) Why age 60 for ...
by Hub
Tue May 30, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Should I cancel my whole life policy?
Replies: 80
Views: 12514

Re: Should I cancel my whole life policy?

Thanks for all the follow ups Dark_Fenix. Others will be able to learn from your experience here and that's worth a lot. Good luck with a positive outcome.
by Hub
Mon May 15, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone else dial down retirement savings?
Replies: 32
Views: 6315

Re: Anyone else dial down retirement savings?

I do get where OP is coming from. My college savings plan for my kids is to have enough saved by then in my retirement accounts so that I can stop savings at that point and be able to cash flow their college. That said I can't stomach the marginal tax rate I find my last dollars in these days so I w...
by Hub
Mon May 15, 2017 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 893
Views: 146264

Re: High Earners - What's Your Profession?

Commercial Loan Officer at a community bank. Its a career that I enjoy a lot, but anything very far north of $100k requires the ability to bring in quality customers that the bank wouldn't have had without you. So that can be stressful. Wife is an attorney but she stays home with kids for now. Sure ...
by Hub
Thu May 11, 2017 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead Debt Free Scream! 174K in 53 months
Replies: 24
Views: 4593

Re: Boglehead Debt Free Scream! 174K in 53 months

Nice work! And wisely you're already in the right place for your next step where you start investing. Please ignore Dave on this front :).
by Hub
Tue Apr 25, 2017 8:24 am
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 80
Views: 11753

Re: Helping adult children

I am in my early 30s, and my parents have 5 adult children, many of whom have been helped out financially at one time or another. The idea that they would give me money to make it 'even' when one of my brothers needed help is insulting. I am an adult. I have no claim to my parents money. They can s...
by Hub
Mon Apr 24, 2017 12:23 pm
Forum: Investing - Theory, News & General
Topic: Single most important investing advice?
Replies: 97
Views: 15613

Re: Single most important investing advice?

30 years ago my father advised me to buy and hold low cost index funds. Don't waste money, invest it for the long run. Go 100% stocks when you're young. Pay yourself first. When stocks go down you get more shares for your money. Don't stop buying when the market sells off. Take advantage of a IRA. ...
by Hub
Mon Apr 24, 2017 12:00 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe says "Goodbye."
Replies: 445
Views: 67204

Re: Larry Swedroe says "Goodby."

I consider Larry's book "The Only Guide to a Winning Investment Strategy You'll Ever Need" my graduate degree in asset allocation and passive index fund investing. It's my favorite book in this genre and it's the one I recommend to people that are worthy of the knowledge. Thanks Larry for your books...
by Hub
Mon Apr 24, 2017 11:49 am
Forum: Investing - Theory, News & General
Topic: Moving company 401k from MassMutual to Vanguard
Replies: 7
Views: 2078

Re: Moving company 401k from MassMutual to Vanguard

Thanks for the replies. I can't wait for us to get out of MM. For real. My new employer uses MassMutual 401k and it is complete garbage compared to the Schwab 401k with self directed option I came from. I think I will soon be in a position to get on the committee that decides these sort of things a...
by Hub
Thu Apr 20, 2017 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: TaxAct pre-purchase discount
Replies: 144
Views: 28671

Re: TaxAct pre-purchase discount

This was the last year I will use TaxAct due to their substantial price increase and shenanigans.
by Hub
Fri Apr 07, 2017 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: Last day for solo 401k contribution?
Replies: 11
Views: 1888

Re: Last day for solo 401k contribution?

... but IRS regulations require the deposit of the contributions by the 15th of the following month (January 15th). I just opened my wife's sole proprietor solo 401k yesterday at TD Ameritrade. They told me the employee contribution was due by 1/15/17. I wasn't sure they were right, but I'm happy t...
by Hub
Wed Mar 01, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Help with commercial building loan!
Replies: 6
Views: 694

Re: Help with commercial building loan!

The nice thing about the SBA options is they'll let you roll in the start-up cost airball into the mortgage and not many conventional commercial banks will do that otherwise. Compare and contrast the 504 and 7a programs closely. At that loan size I see more 7a loans than 504, but either could work f...
by Hub
Mon Feb 06, 2017 2:55 pm
Forum: Personal Finance (Not Investing)
Topic: HSA mistaken distribution issue (2014 taxes)
Replies: 5
Views: 823

Re: HSA mistaken distribution issue (2014 taxes)

That's good to know. Thanks for the follow up. Payflex is now agreeing with me that the 1099 was sent by error somewhere along the line since it was a trustee to trustee direct transfer. I'm trying to get a corrected one sent, but if that doesn't work out then I'll lean toward doing what you ended u...