Search found 347 matches

by mnnice
Thu Nov 15, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: How Long / Hard To Become a Millionaire on Under $100k Income
Replies: 88
Views: 7533

Re: How Long / Hard To Become a Millionaire on Under $100k Income

It's possible if you're young enough, save aggressively enough, and invest aggressively enough. If you can save $20,000 per year (inflation adjusted) and invest it aggressively enough to get a 4% real return, you'll have $1,976,531 (inflation adjusted) in forty years. Even at 3%, you'll have $1,553...
by mnnice
Wed Oct 31, 2018 1:59 pm
Forum: Personal Finance (Not Investing)
Topic: Falling off the ACA subsidy cliff
Replies: 62
Views: 4935

Re: Falling off the ACA subsidy cliff

Thanks for all the replies. My last IRA withdrawal was within the last 60 days, so I could return that and be a safe distance from the cliff. But I wouldn't have enough liquid assets to cover expenses through the end of the year. I do have a few options to cover that: 1) I have an existing HELOC (c...
by mnnice
Mon Oct 29, 2018 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Moving to Minnesota
Replies: 28
Views: 2830

Re: Moving to Minnesota

Ever thing in the Cities will be more.

Taxes are probably a wash.

I think you might find a cute apartment above a business in downtown WBL. North Saint Paul is supposed to be very neighborly. I worked a year in Mahtomedi is has a tony, we think we are fancy feel to it that I didn’t care for.
by mnnice
Sat Oct 27, 2018 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: FAFSA Simplified Needs Test now that forms 1040A and 1040EZ are gone
Replies: 11
Views: 985

Re: FAFSA Simplified Needs Test now that forms 1040A and 1040EZ are gone

Prior to 2018, every tax payer could use Form 1040. Both the 1040-A and 1040-EZ are simplified versions of the 1040. The simplified versions of the 1040 are gone. You will just have to use form 1040. And what are the implications for SNT? Maybe that you should apply for free or reduced lunch and no...
by mnnice
Fri Oct 19, 2018 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Health Care Options for 26 year old
Replies: 38
Views: 2009

Re: Health Care Options for 26 year old

Hi All, I'm trying to help out a friend who is planning a career change. She is currently 26 and has been a teacher for 5 years. She has decided to leave the profession and has been accepted into nursing school which begins in May, 2019. As part of her planning for this transition she had questions...
by mnnice
Thu Oct 18, 2018 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: Health Care Options for 26 year old
Replies: 38
Views: 2009

Re: Health Care Options for 26 year old

yankeefan4065 wrote:
Thu Oct 18, 2018 3:45 pm
4. Is it possible for her to get Medicaid? When applying for Medicaid do they look at all assets someone owns or simply current income? She will be attending school full-time from May 2019-June 2020 and will have no income
What is her state of residence while completing the program?
by mnnice
Sat Oct 13, 2018 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Weigh in on our Marital Argument =)-- HCOL edition
Replies: 70
Views: 5535

Re: Weigh in on our Marital Argument =)-- HCOL edition

Can you go to a hotel when they come or an air b n b? Exactly, they are doing you a favor since you get some private time with your spouse. :wink: We briefly lived in a small house in a tiny town. Both my parents and in-laws stayed in the bed and breakfast down the street. Neither side was income c...
by mnnice
Thu Oct 11, 2018 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: Employer Contributions 401k/roth 401k/ Vanguard IRA confused
Replies: 10
Views: 528

Re: Employer Contributions 401k/roth 401k/ Vanguard IRA confused

My understanding is that a employer match is always traditionally (its an IRS requirement?) . I would be very surprised if your plan really works as you describe. I suspect that you have a choice between all three options (and any combo you want but the match is just on the first 8% and what type tr...
by mnnice
Fri Oct 05, 2018 10:30 am
Forum: Personal Finance (Not Investing)
Topic: Need Health Insurance (Non-ACA Options)
Replies: 80
Views: 5486

Re: Need Health Insurance (Non-ACA Options)

Maybe the OP’s spouse should find a part time job with insurance? It looks to me like a $15k job with good benefits could really yield the household more like 35-50k (depending on how much care they need in a given year).
by mnnice
Thu Oct 04, 2018 5:42 pm
Forum: Personal Consumer Issues
Topic: Thinking of moving to Texas, Iowa, Idaho, or North Carolina
Replies: 216
Views: 15530

Re: Thinking of moving to Texas, Iowa, Idaho, or North Carolina

Iowa’s weather is unpredictable. Yesterday at this time it was 87.Today it’s 57. It was about 40 first thing this morning.
by mnnice
Wed Oct 03, 2018 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Amazon Prime/Whole Foods/AMEX Blue Cash Preferred dilemma
Replies: 26
Views: 2216

Re: Amazon Prime/Whole Foods/AMEX Blue Cash Preferred dilemma

You need to figure in the $119 for prime in there somewhere or the Chase Amazon card is only 3% back.
by mnnice
Tue Oct 02, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Root of Good's cost of raising a child: $3,300 per year
Replies: 163
Views: 5682

Re: Root of Good's cost of raising a child: $3,300 per year

He shows $0 for healthcare. So is he not paying health insurance? How wonderful. :| I suspect that you and I are paying those healthcare costs. :annoyed IIRC just the youngest was on Medicaid (Because the limits from birth to 6? were very high in ROG’s state). Is he supposed to make more money to s...
by mnnice
Thu Sep 20, 2018 10:02 pm
Forum: Personal Finance (Not Investing)
Topic: Should we temporarily reduce our retirement contributions in order to pay off our $400k mortgage in 7 years?
Replies: 83
Views: 7602

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

I noticed that the OP hasn’t returned. :| Am I also the only one that thinks that a 525k house seems like a lot on about a 100k income? Any place I’ve lived 525k is a lot of house and would come 8-10k tax bill. My guesstimate would be $2050 principal and interest, $750 taxes, and $75 insurance or ~$...
by mnnice
Sat Sep 15, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 11570

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

I semi-retired and left a longstanding k-12 gig. I am not interested in climbing anything. I do want to hike the Camino like Victoria. :D I also developed a distrust and unease with some of the older administrators I worked with. They seemed like grouchy micromanagers. I often couldn’t figure out if...
by mnnice
Tue Sep 11, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Need an independent insurance adjuster?
Replies: 5
Views: 565

Re: Need an independent insurance adjuster?

My thought is to first meet with Allstate to see what they offer. If my brother is then dissatisfied, then bring in a/the independent. This seems the more prudent approach. In fact, if a lawyer ends up getting involved, let the lawyer engage a private adjuster if deemed necessary. How would the ave...
by mnnice
Tue Sep 11, 2018 8:01 am
Forum: Personal Consumer Issues
Topic: are mccormick gourmet spices better
Replies: 71
Views: 6538

Re: are mccormick gourmet spices better

I find Penzy's over priced. Some of the mixes are interesting, but I buy from local ethnic markets. The price differences are astonishing. This is fair and accurate. Penzeys has ton of promotions. I got two 1/4 cups size spices free last weekend. Overall prices are higher but deals can be had.
by mnnice
Mon Sep 10, 2018 6:28 pm
Forum: Personal Finance (Not Investing)
Topic: Need an independent insurance adjuster?
Replies: 5
Views: 565

Re: Need an independent insurance adjuster?

Is having an independent adjuster going to provide someone to do the legwork for him? We had a catastrophic fire and dealing with the insurance company was in the early days a full time job and a solid part time job for six months. How good of a self-advocate is your brother or his SO (if he had one...
by mnnice
Thu Sep 06, 2018 8:43 am
Forum: Personal Finance (Not Investing)
Topic: How to Retire in Your 30's with $1 Million in the Bank
Replies: 148
Views: 18667

Re: How to Retire in Your 30's with $1 Million in the Bank

In my opinion one would be assuming substantial risk of outliving their assets. They would have to lower their standard of living. In addition, they would not build enough credits towards Social Security. Compared to the average 55-64 year old that has saved 180k in their 401k? People that can accu...
by mnnice
Sat Sep 01, 2018 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Please check my Roth Conversion Strategy
Replies: 15
Views: 1548

Re: Please check my Roth Conversion Strategy

What is your state’s tax treatment of Roth conversions and/or LTCG? My current state treats them as regular income. In no way a negative critique of your overall plan, but it may be a consideration. :wink:
by mnnice
Thu Aug 30, 2018 10:23 pm
Forum: Personal Consumer Issues
Topic: Mega Downsize....
Replies: 91
Views: 8592

Re: Mega Downsize....

4. Next take all CDs to library. Seems like a bad idea to me. CDs do not take much space at all, weigh very little, can be listened to at any time (provided you have a CD player and speakers, of course), and, best of all, you own them. Music that I loaded onto iTunes and then onto an iPhone is seld...
by mnnice
Wed Aug 29, 2018 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: Ty Bernicke, FIREcalc, and SS payments paint a rosy picture
Replies: 9
Views: 682

Re: Ty Bernicke, FIREcalc, and SS payments paint a rosy picture

So, if I believe SS will be around in 2035 and onward, and Bernicke model is correct, I should be closer than I think. I'm skeptical. You should be. Remember that SS is based on your top 35 years of earnings and under your scenario there will be a lot of years with zeros in them. If you can make it...
by mnnice
Wed Aug 29, 2018 7:14 am
Forum: Personal Finance (Not Investing)
Topic: Dealing with death and the family finances
Replies: 21
Views: 3023

Re: Dealing with death and the family finances

You need homeowners yesterday. Your mom needs the liability insurance and what if there was a fire or bad storm? It seems like the rest of the stuff is not near as time sensitive.
by mnnice
Fri Aug 10, 2018 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 752
Views: 219581

Re: Share your net worth progression

I’m not sure the comparison with others is useful, but it is interesting to see that with a bull market and continued contributions balances can take on a life of their own. Sure shows the power of compounding and how it works in an individual’s favor. My DH had a paper notebook with his net worth f...
by mnnice
Mon Aug 06, 2018 9:58 pm
Forum: Personal Finance (Not Investing)
Topic: "Skin in the game"
Replies: 105
Views: 7507

Re: "Skin in the game"

I went to a state school and honestly knew very few people who entirely paid their own way or entirely had parents pay for college. Most had a combination of both. I do think struggle is underrated and have met more than a few adults (thirty and forty somethings) that have developed very few problem...
by mnnice
Sun Aug 05, 2018 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Best way to lose $200 in taxable income?
Replies: 96
Views: 7382

Re: Best way to lose $200 in taxable income?

livesoft wrote:
Sun Aug 05, 2018 3:33 pm
Buy an option that you know will expire worthless.
MoviePass stock, I can’t remember the ticker??
by mnnice
Wed Aug 01, 2018 8:19 pm
Forum: Personal Consumer Issues
Topic: Time to sell my 2003 Accord?
Replies: 33
Views: 2213

Re: Time to sell my 2003 Accord?

My question would be rust. Is it starting rust or still just fine? Rust is both an aesthetic and a safety problem. If not fix it and drive it. My late father would say it’s just broke in good.
by mnnice
Wed Aug 01, 2018 7:53 pm
Forum: Personal Consumer Issues
Topic: MoviePass-Too good to be true, but it's legit.
Replies: 370
Views: 49823

Re: MoviePass-Too good to be true, but it's legit.

Right now some theatres in my area look normal on the app and others have only 20% or so of the actual movies listed on the theatre website or the local paper.

It sure seems like it’s in the death spiral :(
by mnnice
Mon Jul 30, 2018 10:06 pm
Forum: Personal Finance (Not Investing)
Topic: Realities of Early Retirement Model (FIRE)?
Replies: 96
Views: 10107

Re: Realities of Early Retirement Model (FIRE)?

IMO, healthcare is the biggest blind spot facing these folks. If you live in a country where healthcare is provided or heavily subsidise, it's less of an issue. And the USA has been in that category for the past 7-8 years. Going forward, who knows? I don't think most of them realize how much rates ...
by mnnice
Mon Jul 30, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Chase Sapphire Reserve travel insurance
Replies: 33
Views: 3707

Re: Chase Sapphire Reserve travel insurance

We had an awful experience as well, but eventual made whole. DH and I argued more than once that the other should call and complain this time.
by mnnice
Thu Jul 26, 2018 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: 2-Year Tour in NM - Any Reason to Stay a Virginia Resident?
Replies: 5
Views: 945

Re: 2-Year Tour in NM - Any Reason to Stay a Virginia Resident?

Lots of the cultural and recreational opportunities in New Mexico have resident and non-resident prices 8-)
by mnnice
Mon Jul 23, 2018 6:46 pm
Forum: Personal Consumer Issues
Topic: Tornadoes in Iowa,Nebraska,KC In August
Replies: 46
Views: 2848

Re: Tornadoes in Iowa,Nebraska,KC In August

I was reading that the tornado season is usually about done by August so just asking.We live in Calif so no experience with them.I was thinking they would probably not schedule the Iowa state fair during this time if tornadoes were very likely,or maybe they never occur in that area of the state. Th...
by mnnice
Wed Jul 11, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: How much should i expect to pay for car insurance?
Replies: 22
Views: 1498

Re: How much should i expect to pay for car insurance?

Hi Bogleheads, Apologies for missing out on some essential info. Here are the below points: 1) age: 26 2) marital status: single 3) driving history: this is my first car 4) make and model of car: honda accord 2015 5) state of residence: NJ 6) whether to be used for business: no 7) where i work: NY ...
by mnnice
Wed Jun 27, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Can you retire on $2M?
Replies: 173
Views: 22091

Re: Can you retire on $2M?

Honestly, I don't understand how people live on $40K, $50K or even $60K per year. Including taxes as well as healthcare before Medicare kicks in, I struggle to get it below $100K for two people, assuming we want to do anything besides sit in the house not spending money. But if we just sit in the h...
by mnnice
Tue Jun 26, 2018 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Can you retire on $2M?
Replies: 173
Views: 22091

Re: Can you retire on $2M?

Honestly, I don't understand how people live on $40K, $50K or even $60K per year. Including taxes as well as healthcare before Medicare kicks in, I struggle to get it below $100K for two people, assuming we want to do anything besides sit in the house not spending money. But if we just sit in the h...
by mnnice
Mon Jun 25, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: Can you retire on $2M?
Replies: 173
Views: 22091

Re: Can you retire on $2M?

In doing the math, it seems like if you're 40 with $2M you could possibly retire. $2M @ 8% interest annually for 40 years (die at 100 years old) yields you $161,000 annually. You may not draw $161,000 to start, maybe you draw $60,000 and therefore grow your overall pot over 40 years. Then again, if...
by mnnice
Fri Jun 22, 2018 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Is it normal for federal and state taxable income to be wildly different?
Replies: 10
Views: 852

Re: Is it normal for federal and state taxable income to be wildly different?

We have had no federal liability and a solid four figure state liability as my state taxes LTCG as regular income and our rate is zero on those from the feds.
by mnnice
Fri Jun 22, 2018 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: Two Toyotas - time to update for long trips?
Replies: 25
Views: 2271

Re: Two Toyotas - time to update for long trips?

I have a 2010 Prius with 100k and a 2004 Pontiac Vibe (a GM branded Toyota) with 216k. I wouldn’t hesitate to drive either 500 miles in non-blizzard conditions.
by mnnice
Tue Jun 19, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 6309

Re: Lost job. Take early SS or draw from accounts?

I would argue to wait til at least 65 to take SS. The way the current system works by taking it now you are both decreasing your SS annunity amount and increasing your monthly health care premiums.
by mnnice
Sun Jun 17, 2018 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Lost job. Take early SS or draw from accounts?
Replies: 54
Views: 6309

Re: Lost job. Take early SS or draw from accounts?

Once she loses her job and finds herself in greatly reduced circumstances, the Medicaid people use that, not her YTD earnings/income in calculating her eligibility. Perhaps "is eligible for unemployment at $405/week for 26 weeks. " impacts her ability to get Medicaid http://www.wnylc.com/health/ent...
by mnnice
Fri Jun 15, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: can we afford to spend $20K on travel annually
Replies: 89
Views: 7606

Re: can we afford to spend $20K on travel annually

I remember staying in a nice city center hotel for a vacation we took when our kids were about 6 and 9. The 9 year old liked the hotel. The 6 year old thought that the next vacation we should have a “better “ hotel. When asked for specifics he wanted a waffle machine and a pool he could stand up in....
by mnnice
Sat Jun 09, 2018 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Moved Family Across Country for New Job and Job is now gone
Replies: 27
Views: 6721

Re: Moved Family Across Country for New Job and Job is now gone

Collecting unemployment is not contingent on your location. I collected unemployment from state A (when I worked there I lived in state B), and moved to state C while collecting unemployment.
by mnnice
Thu Jun 07, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: How much to budget for a week long vacation for 2?
Replies: 79
Views: 4859

Re: How much to budget for a week long vacation for 2?

Since my "final" retirement in April 2017, we've taken 7 vacations, each lasting 1-3 weeks. Of these, 5 were done using a website that offers free accommodations in exchange for pet sitting duties, and 2 of the pet sits were international (Vancouver and SW France). Often this included airport picku...
by mnnice
Mon Jun 04, 2018 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: How gameable is the FAFSA for the early retiree?
Replies: 24
Views: 2927

Re: How gameable is the FAFSA for the early retiree?

I actually think having an income low enough for reduced lunch accomplishes the same thing.

I think the bigger problem is a EFC of zero will be gapped at nearly all colleges in this country.
by mnnice
Fri Jun 01, 2018 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc)
Replies: 266
Views: 19266

Re: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc

Due to grade inflation in high schools accompanied with the SAT being made easier it is difficult for the top kids to differentiate themselves. Even the SAT Math II score of 800 is awarded to 75% of the kids who take it. Are you sure? I find it hard to believe. I understand that there is grade infl...
by mnnice
Tue May 22, 2018 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Buy an old farmhouse?
Replies: 52
Views: 5453

Re: Buy an old farmhouse?

My experiences with country living was mixed. Things I would be leery of would be snow removal both how are you going to take care of your drive and how timely will your road be plowed. I would expect lots more utilities expense. We had four figure utility bills when we lived in a house of that size...
by mnnice
Mon May 21, 2018 9:34 pm
Forum: Personal Consumer Issues
Topic: Anyone Using Food Sealing Vacuums (eg FoodSaver)?
Replies: 23
Views: 2046

Re: Anyone Using Food Sealing Vacuums (eg FoodSaver)?

I don’t have one but unless I had something super premium (halibut steaks or grass feed lamb chops or something) I wouldn’t bother. For things like berries or peas freezer ziplocks are superior as I can divvy out what I want. They tend to not freezer burn to bad anyway. I prefer freezer paper for me...
by mnnice
Sun May 20, 2018 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Finance a $28,000 house for Brother?
Replies: 73
Views: 5972

Re: Finance a $28,000 house for Brother?

https://www.trulia.com/p/tx/brownsville/2628-yolanda-st-brownsville-tx-78521--2071564852 Here is a link to the house I used to live in for those who think a 20k or 30k house doesn't exist or must be condemned. The owner never made a repair in the years I lived there. Property taxes are 400/yr or so...
by mnnice
Thu May 17, 2018 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: I will be laid off but can not get unemployment benefits?
Replies: 26
Views: 4292

Re: I will be laid off but can not get unemployment benefits?

Check your state. I collected unemployment for about nine months and had a part-time job (w-2) nearly the entire time. There are pretty massive variations from the most generous states and the least. woww how is this possible? I guess it depends on the state. I think in Texas, they will deduct part...