Search found 468 matches

by mnnice
Sat May 23, 2020 10:25 am
Forum: Personal Finance (Not Investing)
Topic: The axe falls and I am prepared. What's next?
Replies: 363
Views: 27237

Re: The axe falls and I am prepared. What's next?

This is maybe off topic, but when I first saw this thread I thought about when DH was laid off in the Great Recession. We had a three year old at the time and he liked to loudly announce to strangers, “My dad is laid off.” People often responded, “That’s too bad.” Kiddo was puzzled, “ Laid off” to h...
by mnnice
Thu May 21, 2020 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Car or Train? Plus, Used Car (Make/Model/Year) Recommendations for Long Commute
Replies: 36
Views: 1270

Re: Car or Train? Plus, Used Car (Make/Model/Year) Recommendations for Long Commute

You might be a good candidate for looking on lease trader or something similar and picking up the last six months of a lease for cheap (I suspect there are people with cars they leased to drive to jobs they no longer have). You could drive it and if you didn’t like it turn it in at the end. If you w...
by mnnice
Sun May 17, 2020 9:53 pm
Forum: Personal Finance (Not Investing)
Topic: Do you need to worry about receiving college financial aid in 15 years if...
Replies: 28
Views: 2348

Re: Do you need to worry about receiving college financial aid in 15 years if...

or in other, other words - is college financial aid probably a non-starter if you are a high earner/have a lot of assets by the time child applies to college? Where you have your assets can also matter. Some colleges are getting more sophisticated in looking at a parents assets but when I went thro...
by mnnice
Tue May 12, 2020 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Trying to lower tax on short term capital gains. Do conservation easements work?
Replies: 136
Views: 8881

Re: Trying to lower $800k tax on short term capital gains. Do conservation easements work?

I had a similar large gain 15 years ago. I purchased several Gas and Oil Partnerships and other similar investments, I saved a ton of taxes but lost most of my money as ALL the investments I bought,not even one of them got me my original investment back. What they sell are the worst investments, bu...
by mnnice
Sat May 09, 2020 11:50 am
Forum: Personal Finance (Not Investing)
Topic: How Do Early Retirees Pay for Medical
Replies: 132
Views: 9732

Re: How Do Early Retirees Pay for Medical

Assuming that the OP has family coverage through his spouse’s job this is really a very short time frame to bridge to Medicare. I says this as a person that has been semi-retired for six years and have had to figure out my own insurance since September of 2014. The OP had this year to figure out a s...
by mnnice
Thu Apr 30, 2020 7:14 pm
Forum: Personal Consumer Issues
Topic: Has Your Spending Changed Since The Shutdown?
Replies: 180
Views: 6589

Re: Has your budget changed? What items have you cut out?

willthrill81 wrote:
Thu Apr 30, 2020 5:26 pm
runner3081 wrote:
Thu Apr 30, 2020 2:06 pm
Nope, hasn't changed. We don't spend much on things that are impacted (eating out, etc).
Pretty much the same here. We were planning on an RV trip to Yellowstone in June, and it looks like that should still happen, albeit there will be minimal use of facilities.
Pack warm stuff
by mnnice
Wed Apr 22, 2020 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: College in fall
Replies: 287
Views: 28792

Re: College in fall

I have a high school senior whose post graduation plan was to attend a technical program that is hands on with a lab space full of tools no layperson would have. He as also applied for a full tuition scholarship that I think he had a good chance of getting (which does get selected til June 8-). I ha...
by mnnice
Mon Apr 20, 2020 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Take FMLA or Telework?
Replies: 19
Views: 1102

Re: Take FMLA or Telework?

I would take what seemed prudent in the beginning (absolutely two weeks). I would take as much of the remaining FMLA after your spouse returns to work. That strategy saves money on childcare, reduces exposure to sickness (pandemic or regular), and smooths your spouse‘a transition back to work. Congr...
by mnnice
Sat Apr 18, 2020 9:35 pm
Forum: Personal Consumer Issues
Topic: Apple Released a New Low-cost Iphone
Replies: 172
Views: 14304

Re: Apple Released a New Low-cost Iphone

Thanks for posting. We usually buy used and I've had great luck with my 5s, but my wife not so much, so this might be a good option. Her current iPhone 7 is on the fritz and won't connect to the cellular network. Seems to be a pretty expensive part as the most likely cause, so I was surprised when ...
by mnnice
Sat Apr 18, 2020 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: Parent is working grueling job, considering retiring just a few years before pension. How else can I help her decide?
Replies: 50
Views: 3473

Re: Parent is working grueling job, considering retiring just a few years before pension. How else can I help her decide

The handbook (usually available as PDF) of the your mom’s pensions website is usually the best source of information. I think it is germane to figure out how much of the difference in pension amounts is due to the fact that if she has two fewer years of service credit and how much does the plan pena...
by mnnice
Thu Apr 09, 2020 2:13 pm
Forum: Personal Consumer Issues
Topic: What will you do first, once COVID pandemic is over?
Replies: 271
Views: 17134

Re: What will you do first, once COVID pandemic is over?

I suppose I should restart my planning for a high school grad party for my kid.
by mnnice
Sun Apr 05, 2020 8:20 am
Forum: Personal Finance (Not Investing)
Topic: No RMD in 2020 means Changes my ACA
Replies: 16
Views: 1198

Re: No RMD in 2020 means Changes my ACA

Have you gotten confirmation that this is indeed a qualifying life event?

I think at either income your choices of plans are the same for your zip code?

I says this only because if anyone with variable income could change at will all year long and it would be a mess of people changing constantly.
by mnnice
Mon Mar 23, 2020 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Corona and the “barebones” budget
Replies: 45
Views: 5919

Re: Corona and the “barebones” budget

We are still drinking some of the best coffee on the planet (at home like we do everyday). It’s fluff but it is not going away from our budget anytime soon and really should be included in the barebones budget if it is that inelasticity for us. Just like you can lower your property tax by moving to...
by mnnice
Sun Mar 22, 2020 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Corona and the “barebones” budget
Replies: 45
Views: 5919

Re: Corona and the “barebones” budget

I'm actually doing my best not to live off the barebones budget. I'm in Seattle and there's talk of something like 40% of our restaurants not making it. I'm trying to support the ones in my area when I can instead of living off the barebones budget. I guess it helps that I'm in healthcare, so I won...
by mnnice
Sun Mar 22, 2020 2:34 pm
Forum: Personal Finance (Not Investing)
Topic: Corona and the “barebones” budget
Replies: 45
Views: 5919

Re: Corona and the “barebones” budget

I'm actually doing my best not to live off the barebones budget. I'm in Seattle and there's talk of something like 40% of our restaurants not making it. I'm trying to support the ones in my area when I can instead of living off the barebones budget. I guess it helps that I'm in healthcare, so I won...
by mnnice
Fri Mar 20, 2020 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Corona and the “barebones” budget
Replies: 45
Views: 5919

Re: Corona and the “barebones” budget

Yes. There is a lot of fluff in everyone's budget. Most everything we have is fluff. The problem is, the economy runs on the fluff. At least the current economy does. We'll see what the reset does over the next months. I bought Rise of Skywalker. Ordered some coffee from Intelligent Blends. Bought ...
by mnnice
Fri Mar 20, 2020 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Corona and the “barebones” budget
Replies: 45
Views: 5919

Corona and the “barebones” budget

Often discussed here is the idea of barebones vs desired lifestyle in retirement. I was just thinking that this month maybe a good example of what constitutes barebones for many households. It should be for my household. We really have not spent any money on anything particularly “extra”. Just groce...
by mnnice
Sat Feb 22, 2020 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: Interest only mortgage: the conservative choice?
Replies: 87
Views: 7549

Re: Interest only mortgage: the conservative choice?

Since I have the advantage of hindsight I wish we had done something similar. 8-) We bought our current house ~5 years ago. We had/have a finite time horizon to live in it ~8 years. Instead of an interest only loan we sold appreciated stock to finance the purchase and paid state income tax on it as ...
by mnnice
Sun Feb 02, 2020 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50670

Re: $3 million the new rule of thumb?

Of course, I’d have to live in Bozeman. Darn. No way I could afford Jackson. Those listing Jackson, WY as low cost, it’s not. Housing in particular is approaching Bay Area costs. Let's see if I can clear this up once and for all. I chose in my examples the following cities and what I felt they repr...
by mnnice
Wed Jan 29, 2020 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: $3 million the new rule of thumb?
Replies: 653
Views: 50670

Re: $3 million the new rule of thumb?

:mrgreen: Obviously, if one is accounting for SS benefits, pension benefits, or other streams of income away from the risk portfolio that would require a SWR of the suggested Trinity Study 4% in the graphic above - then one would adjust their numbers accordingly in terms of risk portfolio size. If ...
by mnnice
Sat Jan 18, 2020 11:58 pm
Forum: Personal Finance (Not Investing)
Topic: My 60 y/o parents have basically 0 for retirement & will have no SS/Medicare
Replies: 166
Views: 17047

Re: My 60 y/o parents have basically 0 for retirement & will have no SS/Medicare

As I read your story, I was reminded of a book called The Glass Castle. Basically it is a woman's story of growing up with her dysfunctional parents. There is a movie that captures some of it, but the book is better, and it grabbed my interest from the first few pages. It may be worth reading. As o...
by mnnice
Mon Jan 13, 2020 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Family member with almost no retirement savings or assets, what to do?
Replies: 55
Views: 7419

Re: Family member with almost no retirement savings or assets, what to do?

furwut wrote:
Mon Jan 13, 2020 8:10 am
See about qualifying for Medicaid.
Do away with the car. They are wealth absorbers.
His present income is 5x poverty, I didn’t think any state is going to deem him eligible for Medicaid.

I do think no car if he lives where there is ridesharing or a cheaper car would be in order.
by mnnice
Sun Dec 15, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: How should I buy my aunts house?
Replies: 39
Views: 3155

Re: How should I buy my aunts house?

How many tractors come with the aunt's place? I actually think that’s pretty relevant. You are going to need one for the driveway. A decent “acreage” tractor is more than a new car. Why would I need one for driveway? anone can plow a driveway in winter with an ATV and a plow Attachment Really, I ha...
by mnnice
Sun Dec 15, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: State Taxes: Interesting State Border Towns? (E.g., Low Income Tax, Property Tax, Sales Tax combo?)
Replies: 34
Views: 3376

Re: State Taxes: Interesting State Border Towns? (E.g., Low Income Tax, Property Tax, Sales Tax combo?)

I lived along the MN/SD border. We lived in SD. DH worked in SD, I worked in MN. We had friends that lived in MN he worked in SD and she worked in MN. Not sure there was much arbitration to be had in either direction. Lots of advantages in regards to retired post Medicare aged folks for SD not much ...
by mnnice
Wed Dec 04, 2019 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: How should I buy my aunts house?
Replies: 39
Views: 3155

Re: How should I buy my aunts house?

ExitStageLeft wrote:
Wed Dec 04, 2019 6:39 pm
How many tractors come with the aunt's place?
I actually think that’s pretty relevant. You are going to need one for the driveway. A decent “acreage” tractor is more than a new car.
by mnnice
Mon Nov 25, 2019 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Friendly States
Replies: 421
Views: 30771

Re: Retirement Friendly States

South Dakota residency only requires you to be in the state the night before you get your ID/driver’s license. That's great for an RV'er, but those with physical homes are going to run up against whether they meet the residency requires of the state with the home in it. I think the likelihood of me...
by mnnice
Mon Nov 25, 2019 11:08 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Friendly States
Replies: 421
Views: 30771

Re: Retirement Friendly States

States with no state income taxes: Washington, Nevada, Texas, Wyoming, South Dakota, Florida and Alaska Now cross reference that against two criteria. Three of these states have most of their population around only a few cities (Wyoming, South Dakota, and Alaska). Now drop out the ones that have a ...
by mnnice
Mon Nov 18, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree couple seeking pointers on relocation
Replies: 7
Views: 870

Re: Retiree couple seeking pointers on relocation

I’m with btenny unless you have already spent a ton of time in the area.
by mnnice
Sun Oct 20, 2019 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Staying Above The ACA 138% Poverty Level
Replies: 7
Views: 1507

Re: Help With Staying Above The ACA 138% Poverty Level

Looking to 2020, without knowing the specifics don’t assume that the ACA plan is superior to Medicaid.
by mnnice
Fri Oct 18, 2019 9:44 pm
Forum: Investing - Theory, News & General
Topic: Pensions - Why Isn't Time In the Market a Part of the Formula?
Replies: 30
Views: 4193

Re: Pensions - Why Isn't Time In the Market a Part of the Formula?

Something I have wondered a long time. Consider the following scenario: I am a CalPERS member in my 20s on the 2% at 62 formula. If I work for 5 years at a $50k salary and become vested and leave, and I take my pension at 62, my $ will have been in the pension fund for 30+ years and I receive $5k p...
by mnnice
Mon Sep 30, 2019 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Travel Insurance - Chase Sapphire Reserve
Replies: 12
Views: 1357

Re: Travel Insurance - Chase Sapphire Reserve

We were eventually made whole when we had a large claim (had a 15 day journey in Costa Rica planned. Member of the party had an appendix removed just hours before be were supposed to leave. It was an enormous PITA and I think it was made difficult so that we would give up :annoyed We had Chase Sapph...
by mnnice
Fri Sep 27, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: White Coat Investor: How to Live on $350k (Income) in Hawaii
Replies: 68
Views: 7726

Re: White Coat Investor: How to Live on $350k (Income) in Hawaii

I am not sure where in Hawaii they were considering moving to but . . .

Average household income on the Big Island is less than the national average. Pretty sure most of the folks could make a go of it on seven times that even with $7 gallon milk.
by mnnice
Mon Sep 16, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Live in MA, Need 2.5 years health insurance until Medicare
Replies: 38
Views: 2670

Re: Live in MA, Need 2.5 years health insurance until Medicare

Can you either make a large tax deferred distribution before the end of the year or sell taxable? Can you stockpile cash til 65 and not realize much income. I don’t know how much income manipulation can be done my thought might not be germane if you have large taxable dividends, large pensions, rent...
by mnnice
Thu Aug 22, 2019 4:47 pm
Forum: Personal Consumer Issues
Topic: Hotel recommendation for Cambridge / Boston
Replies: 53
Views: 3185

Re: Hotel recommendation for Cambridge / Boston

We went to Boston/Cambridge almost exactly a year ago. We booked three award nights in Hyatt properties. We stayed at the Cambridge one one night and saw the Harvard and MIT sights and stayed in downtown Boston and did Freedom Walk, North Beach. I found it supremely walkable. The Cambridge Hyatt was...
by mnnice
Wed Aug 14, 2019 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Net-worth rule of thumb for house purchase?
Replies: 123
Views: 6700

Re: Net-worth rule of thumb for house purchase?

I don’t think a certain percentage is a max. But as a retired person sooner or later too much house would make you un-retired :wink:. For example, Broke Bob receives $1,000,000 inheritance and gives notice to his landlord that he presently pays $1,000 a month in rent. He falls in love with a $900,00...
by mnnice
Sun Aug 04, 2019 5:52 pm
Forum: Personal Consumer Issues
Topic: Costa Rica travel
Replies: 20
Views: 2387

Re: Costa Rica travel

We went to CR in 2018 we spent four days in the Arenal/LaFortuna area and six on the Beach in Tamarindo. I really enjoyed the experience. If I had it to do over I would find cheaper accommodation in LaFortuna and stay in a hostel on the Pacific coast. I dislike driving in general, the roads are ofte...
by mnnice
Sun Aug 04, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Received Significant Raises in Salary and getting Jealousy from Close Colleagues/Friends
Replies: 48
Views: 4877

Re: Received Significant Raises in Salary and getting Jealousy from Close Colleagues/Friends

I would say this is a problem somewhat developmental in nature. 16 year olds don’t have much variation in pay and older folks have learned to hike their own hike better. Life is not a race. I know lots of folks that made bank for a short time and then had something happen (illness, addiction, struct...
by mnnice
Sat Aug 03, 2019 4:06 pm
Forum: Personal Consumer Issues
Topic: Used Car Recommendations for Active Retired Couple
Replies: 31
Views: 2368

Re: Used Car Recommendations for Active Retired Couple

Very unclear why car ownership is even a desirable. Buy some non-owner insurance. Rent for your road trips. Walk, bike, mass transit, ride share, or cab everywhere else. Eliminate the hassle of worrying about having a seldom used car sitting around getting dents and having the tires rot. NYC covers...
by mnnice
Sat Aug 03, 2019 1:04 pm
Forum: Personal Consumer Issues
Topic: Used Car Recommendations for Active Retired Couple
Replies: 31
Views: 2368

Re: Used Car Recommendations for Active Retired Couple

Very unclear why car ownership is even a desirable.

Buy some non-owner insurance. Rent for your road trips. Walk, bike, mass transit, ride share, or cab everywhere else. Eliminate the hassle of worrying about having a seldom used car sitting around getting dents and having the tires rot.
by mnnice
Tue Jul 30, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirees - what's your spending like?
Replies: 36
Views: 4518

Re: Early retirees - what's your spending like?

My annual budget is $81,480 (after taxes) which is broken down as follow: Property Taxes - $5,520 Home insurance - $2,640 HOA Fee - $120 House Repairs / Upgrades - $3,600 House Cleaning - $1,440 Furnishing - $1,200 Lawn Maintenance - $1,440 Medical Insurance - $5,400 Long Term Care Insurance - $4,6...
by mnnice
Sun Jul 28, 2019 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is a rental property a good way to diversify my income to protect against job loss and / or stock market decline?
Replies: 21
Views: 1962

Re: Is a rental property a good way to diversify my income to protect against job loss and / or stock market decline?

During the Great Recession lots of folks had job loss, a stock market decline, and a rental property inhabited by someone else without a job that couldn’t pay the rent. Not really an improvement.
by mnnice
Sun Jul 28, 2019 8:52 pm
Forum: Personal Consumer Issues
Topic: Hawaii in August
Replies: 31
Views: 2936

Re: Hawaii in August

We went to the Big Island 2 years ago in mid-August with a 4 yr old and 2 yr old and stayed at the Hilton Waikoloa and had an awesome time. It's a big resort, but very nice if you want a low-stress vacation with little kids. We actually booked through Costco and had a 7-day stay including airfare a...
by mnnice
Fri Jul 19, 2019 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 23934

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

However, in a LCOL area I have witnessed wealth and wealth accumulation beyond my wildest dreams. Wealth is also different in a LCOL rural area. Even a medium size farm is a multi-million dollar business. Think about that the next time you are flying over "flyover" country and see all those funny l...
by mnnice
Mon Jul 01, 2019 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Do you share your net worth with family members?
Replies: 252
Views: 23495

Re: Do you share your net worth with family members?

DH and I semi-retired about 5 years ago. Not working any more than we do at jobs that are obviously not highly compensated sort of tips the hand. If we had to actually live on our income life would be pretty barebones. The fact that we still travel and do plenty of fun stuff locally makes it clear t...
by mnnice
Fri Jun 14, 2019 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Article on high deductible health plans - and the math
Replies: 120
Views: 10639

Re: Article on high deductible health plans - and the math

vu8 wrote:
Fri Jun 14, 2019 4:36 pm
Do you know how much China's universal basic resident healthcare plan for the whole year of 2018 costs? About 29 dollars! For a whole year!
IICR don’t the Chinese pay for most of their healthcare out of pocket?
by mnnice
Tue Jun 11, 2019 9:19 pm
Forum: Investing - Theory, News & General
Topic: Anyone buying Beyond Meat stock?
Replies: 35
Views: 3319

Re: Anyone buying Beyond Meat stock?

I’m pretty sure the Beyond line is soy free.

I wish I would have bought the IPO as I have tasted them and offered samples to lots of people and found them well received. I personally didn’t like burgers but the sausage was very good.
by mnnice
Sat Jun 01, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: How do BH define Cost of Living Cities
Replies: 48
Views: 3001

Re: How do BH define Cost of Living Cities

OP, It is very simple. If you can buy a Single-family house of 2,000 to 3,000 square feet at around 200K, it is an MCOL area. Anything lower than that, it is LCOL. Anything higher than that, it is HCOL or VHCOL. KlangFool I looked up my present location that is rated 99 on the Best Places link. Zil...
by mnnice
Sat Jun 01, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: How do BH define Cost of Living Cities
Replies: 48
Views: 3001

Re: How do BH define Cost of Living Cities

OP, It is very simple. If you can buy a Single-family house of 2,000 to 3,000 square feet at around 200K, it is an MCOL area. Anything lower than that, it is LCOL. Anything higher than that, it is HCOL or VHCOL. KlangFool I looked up my present location that is rated 99 on the Best Places link. Zil...
by mnnice
Sat Jun 01, 2019 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Considering Pension Options
Replies: 14
Views: 1375

Re: Considering Pension Options

Also what happens if you would pass before you start collecting the pension? I am a vested inactive member in two public employee pensions. If I die before I start collecting DH just gets my contributions as a lump sum which is way less than he would likely get if we choose any flavor of joint survi...