Search found 2768 matches

by TravelforFun
Sun Mar 17, 2024 4:56 pm
Forum: Personal Consumer Issues
Topic: Extra Low Mileage Drivers: How much do you spend on your car?
Replies: 48
Views: 4191

Re: A stupid amount

PottedPlant wrote: Fri Mar 15, 2024 2:48 am We bought as new car in November 2022. It replaced a 2007 car.
We drive 2500 miles/year.
Annual costs right now are:
$1000 DMV
$3000 Insurance
$5000 Depreciation (linear $50K over 10 years)

Yes, $3.67/mile is crazy.
But we want the convenience and we had the money for the new car.
$1,000 a year for DMV or registration? That's crazy! What part of the country are you in? I'm in TX and it's $75.

Yes, $3.67 per mile is crazy too.

TravelforFun
by TravelforFun
Sun Mar 17, 2024 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Over 80, take more than minimum RMD? Advice?
Replies: 18
Views: 1883

Re: Over 80, take more than minimum RMD? Advice?

OP, I have the same situation and because my kids' tax rates are higher than mine and will continue to be higher, I've been converting and paying taxes now. The kids will get our Roths with I am sure they will appreciate it.

TravelforFun
by TravelforFun
Sun Mar 17, 2024 2:50 pm
Forum: Investing - Theory, News & General
Topic: Anybody heard stories of well "prepared" retirees running out of money?
Replies: 90
Views: 10283

Re: Anybody heard stories of well "prepared" retirees running out of money?

I can understand the flexibility of probabilities, but I wonder if there are actual & recent real-life cases proving their point , or if it a strategy to get more $ from investors. This might include experiences in which people started with sound recommended practices (like 4% or the above) and had to re-adjust way down permanently & prematurely . I am not talking about normal slow-go/no-go phases and I assume that most prudent (I almost wrote sane) people will use some references to foresee the problem before running out of money, So any case? I don't personally know anyone who ran out of money in retirement, but if one had retired in 2000 and started the 4% SWR adjusted to annual inflation, that person would have had to abandon t...
by TravelforFun
Sat Mar 16, 2024 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Age and probability of needing long term care?
Replies: 221
Views: 22380

Re: Age and probability of needing long term care?

According to Consumer Affairs (quoting Genworth numbers), 48% of people 65+ need no LTC. And 14% (very close to 13%) require care longer than 5 years. 14% of the people 65+ require care longer than 5 years is so misleading it would be fair to say it is just flat out wrong. A correct statement would be that 13% of those 65+ who need long term care require that care for 5 years or more. In "absolute values" that means that 6%, (1-0.48)*0.13, of those 65+ will need care for 5 or more years. So here is what I get for the "absolute values" from the data above; 52% of people 65+ will need some LTC 25% of people 65+ will need LTC for less than 1 year 10% of people 65+ will need LTC for 1 to 2 years 11% of people 65+ will need ...
by TravelforFun
Fri Mar 15, 2024 6:56 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance
Replies: 448
Views: 40680

Re: Long Term Care Insurance

hudson wrote: Fri Mar 15, 2024 6:16 pm
martincmartin wrote: Thu Jan 27, 2022 8:11 am
So I'm torn between getting it or trying to self insure.

How have others approached this decision? Any way to think about it to help me?
I've looked at quotes a number of times; I never saw a good deal that fit my budget.
To me, it's not insurance, it's a pre-payment for something that you may never use.
How is it different from other insurance? I have LTCi but hope I never have to use it just like I wouldn't want to use my home, car, or life insurance.

TravelforFun
by TravelforFun
Sat Mar 09, 2024 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: Have any of you Frugal Zebras Changed Your (Spending) Stripes?
Replies: 129
Views: 10658

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

Some people are just happy to see their assets grow. The bigger they grow, the happier they get. Stories about low-wage worker leaving million of dollars to charities are not very unusual.

TravelforFun
by TravelforFun
Sat Mar 09, 2024 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Projections: Sanity Check
Replies: 10
Views: 1501

Re: Retirement Projections: Sanity Check

Your withdrawal rate is 2.5% not counting your home equity and future SS income.

Submit your notice on Monday.

TravelforFun
by TravelforFun
Fri Mar 08, 2024 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: What would you have done differently if you could go back and restart your financial journey?
Replies: 68
Views: 5596

Re: What would you have done differently if you could go back and restart your financial journey?

MrBobcat wrote: Fri Mar 08, 2024 6:38 am I honestly don't think I'd change anything. Were mistakes made along the way, yep, but they were learning experiences and I wouldn't be where I am today without having made them.
You serious? If you got to go back to your 20s and knowing what you know now, you wouldn't change a thing?

TravelforFun
by TravelforFun
Fri Mar 08, 2024 12:38 pm
Forum: Investing - Theory, News & General
Topic: Dot.Com Era/AI Era?
Replies: 302
Views: 27391

Re: Dot.Com Era/AI Era?

LaurenRose wrote: Mon Feb 26, 2024 1:09 pm Can AI bring anything more - from a financial perspective - than the internet did when it was in its growth era?
If I had to guess then yes; and there is nothing wrong with investing a small % of your asset in AI related stocks. FOMO got me buy Super Micro Computer (SMCI) this year and Bitcoins a few years back.

TravelforFun
by TravelforFun
Fri Mar 08, 2024 12:27 pm
Forum: Personal Finance (Not Investing)
Topic: Can I splurge on a family vacation to Hawaii?
Replies: 56
Views: 4794

Re: Can I splurge on a family vacation to Hawaii?

If not now, when? Do you think when you are 80, or 90 if you live that long, you will look back and say "Dang, I sure wish we hadn't spent that 30k on a Hawaii vacation"? You have solid income going forward, way more than us, and I am committed to doing as much travel as we can while we can. There are no guarantees in life, and it's not a dress rehearsal! "Dang, I sure wish we hadn't spent that 30k on a Hawaii vacation"? This got my attention. We haven't had a vacation in 4 years. Oldest daughter was a drug addict and alcoholic and ended up in jail for DUI(s) and lost her license for 5 years. She got clean and sober in jail and we committed to driving her to and from work every day. For 4 years. She gets her license bac...
by TravelforFun
Thu Mar 07, 2024 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 9915

Re: Your Original Medicare Experience: Nightmare or Sublime?

TheEleven wrote: Thu Mar 07, 2024 6:42 pm
TravelforFun wrote: Thu Mar 07, 2024 6:18 pm Why would anyone consider original Medicare? There is no annual maximum out of pocket cost and hence, your exposure is unlimited. Get Medicare Advantage or Medigap.

TravelforFun
Original Medicare with a supplement plan such as Plan G has a max out of pocket of your yearly deductible, currently about $240. You could say it's true that there is no annual out of pocket maximum because you are 100% covered on all costs, except for that deductible.
The point of my post is that some people only have original Medicare plan and to me, that's a huge mistake.

TravelforFun
by TravelforFun
Thu Mar 07, 2024 8:58 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 9915

Re: Your Original Medicare Experience: Nightmare or Sublime?

Why would anyone consider original Medicare? There is no annual maximum out of pocket cost and hence, your exposure is unlimited. Get Medicare Advantage or Medigap. TravelforFun Just to be clear, Medigap supplements Original Medicare. For a modest monthly premium Medigap plan G HD (High Deductible) fixes the Original Medicare no annual maximum out of pocket problem. To the OPs question, my father had original Medicare for 31 years, my mother is approaching 32 years on original Medicare, and I have 8.5 years on original Medicare. Works well. No problems encountered. Did your father have a Medigap plan? Do you and your mother have a Medigap Plan? If you do, that's great! The point of my post is that some people only have original Medicare pl...
by TravelforFun
Thu Mar 07, 2024 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 9915

Re: Your Original Medicare Experience: Nightmare or Sublime?

retiredjg wrote: Thu Mar 07, 2024 7:31 pm
TravelforFun wrote: Thu Mar 07, 2024 6:18 pm Why would anyone consider original Medicare? There is no annual maximum out of pocket cost and hence, your exposure is unlimited. Get Medicare Advantage or Medigap.
You cannot have a Medigap plan (a Medicare supplement) without being on original Medicare. It is the combination of the two that limits your exposure.
Right, but some people only sign up for original Medicare and that's the point of my post.

TravelforFun
by TravelforFun
Thu Mar 07, 2024 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Your Original Medicare OR Advantage Experience: Nightmare or Sublime?
Replies: 156
Views: 9915

Re: Your Original Medicare Experience: Nightmare or Sublime?

Why would anyone consider original Medicare? There is no annual maximum out of pocket cost and hence, your exposure is unlimited. Get Medicare Advantage or Medigap.

TravelforFun
by TravelforFun
Thu Mar 07, 2024 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Need advice on Home addition.
Replies: 21
Views: 1874

Re: Need advice on Home addition.

1) How did you get this bid? Who specified what kind of materials will be used this project? Material qualities affect the bid greatly.

2) If you want to get more than one bid and you should, you need to give all bidders the same set of plans and specifications.

3) If you hire an architect to design the addition and prepare the specifications, it will add 10% to the cost of the project this size. If you want the same architect to manage the construction for you, that's another 10%.

4) Whatever you do, make sure the contractor is insured and bonded, and is responsible for getting the applical city permit(s) and HOA approval.

TravelforFun
by TravelforFun
Tue Mar 05, 2024 7:06 pm
Forum: Personal Finance (Not Investing)
Topic: Financial coach as a side hustle?
Replies: 22
Views: 2214

Re: Financial coach as a side hustle?

Toons wrote: Tue Mar 05, 2024 6:56 pm Million Dollar Advice,
I couldn't sleep at night if I charged for it
Free- :mrgreen: :mrgreen:
Use Common Semse
Spend less than you make
Stay Away from debt.
Pay cash
Vanguard Balanced Index Fund(Reinvest)
Wear a Seat Belt
Don't Smoke
Have a great partner
Have great friends
Have enough insurance
Stay healthy
Avoid addiction of any kind

TravelforFun
by TravelforFun
Tue Mar 05, 2024 6:58 pm
Forum: Personal Consumer Issues
Topic: What are you listening to now
Replies: 5802
Views: 574743

Re: What are you listening to now

Michael Isikoff's audio book, 'Find Me the Votes'.

TravelforFun
by TravelforFun
Mon Mar 04, 2024 6:28 pm
Forum: Personal Consumer Issues
Topic: Airline Miles and Hotel Points
Replies: 37
Views: 4412

Re: Airline Miles and Hotel Points

I started playing the CC game seriously in 2013. I keep track of all my redemption and so far I've redeemed 4.3 million points/miles which have saved me $77,482 in flights, hotels, car rentals, global entry, share rides, etc. We've had a Southwest companion pass (buy one ticket and companion flies free) for the last 10 years. We have high credit scores, pay off CC balances every month, and apply for three or four new cards every year for the sign-up bonuses. CC points are not worthless to us at all. TravelforFun Would you have actually spent the $77,482 if you did not play the CC games? Probably not since some of our trips are spur-of-the-moment kind. Hey Uncle Bob is turning 80, let's use our free miles to fly to CA (we're in TX) to help ...
by TravelforFun
Mon Mar 04, 2024 6:20 pm
Forum: Investing - Theory, News & General
Topic: Research on primary residence vs stock market+renting?
Replies: 51
Views: 5061

Re: Research on primary residence vs stock market+renting?

Curious if there's any academic research out there on the optimal choice between buying a typical primary residence versus investing in a broad index and renting. Especially curious if there's some sort of comparative formula one could use based on today's interest rates and overall market valuations. I'm not convinced a home is a good investment. Here is one data point. My house is in North Texas and it's value has gone up only 2.5% a year over the 30 years we've had it. I also know that you when we buy, we tend to buy more than what we need, more rooms, more yard and hence, we would pay higher operating and maintenance costs for the house; but when we rent, we only rent what we need. I believe renting would be better financially, but it'...
by TravelforFun
Fri Mar 01, 2024 6:45 pm
Forum: Personal Consumer Issues
Topic: Airline Miles and Hotel Points
Replies: 37
Views: 4412

Re: Airline Miles and Hotel Points

I started playing the CC game seriously in 2013. I keep track of all my redemption and so far I've redeemed 4.3 million points/miles which have saved me $77,482 in flights, hotels, car rentals, global entry, share rides, etc. We've had a Southwest companion pass (buy one ticket and companion flies free) for the last 10 years. We have high credit scores, pay off CC balances every month, and apply for three or four new cards every year for the sign-up bonuses.

CC points are not worthless to us at all.

TravelforFun
by TravelforFun
Thu Feb 29, 2024 5:52 pm
Forum: Personal Consumer Issues
Topic: Advice for buying a car in 2024
Replies: 51
Views: 8433

Re: Advice for buying a car in 2024

3. After you get the initial prices, and insist this is an out the door price after taxes and fees, take the lowest offer and take it to Dealer #2. So this doesn't take too long, tell them you will only go with them if they beat the price of Dealer #1 by at least $300.00. Insist, no matching will be accepted. They key thing about negotiating is for you to create the rules and be firm about it. Don't sound desperate, give them at least 24 hours to respond, but usually they will respond within a few hours. If they beat the price from Dealer #1 (which on the first round they usually will, since everyone starts with a high-ball offer) take that offer to Dealer #3, and keep on rinsing till you get the price. I don't know. If I asked Dealer 2 to...
by TravelforFun
Thu Feb 29, 2024 5:34 pm
Forum: Personal Consumer Issues
Topic: Advice for buying a car in 2024
Replies: 51
Views: 8433

Re: Advice for buying a car in 2024

MH2 wrote: Thu Feb 22, 2024 9:31 am How tied are you to absolutely having a 3rd row?

If it's just a nice to have or something for when you're occasionally stuck driving one of your kid's friends, look into a used Model Y with the third row/fold down seat option.
I have a 2023 Tesla Model Y with 3rd row and the two seats on that row are almost useless. Close to 0 legroom.

TravelforFun
by TravelforFun
Fri Feb 23, 2024 6:17 pm
Forum: Personal Consumer Issues
Topic: How do you live healthy?
Replies: 107
Views: 8117

Re: How do you live healthy?

jebmke wrote: Fri Feb 23, 2024 7:23 am Stopped riding my bike on public roads
Did something happen that caused you to stop? I've been riding my e-bike for about three years now anytime I need to go somewhere within 10 miles from my home which is in a one-million-population city with just a few miles of exclusive bike lanes. I wear a helmet and a reflective vest, have rear view mirrors, and front and back light; and use the bike feature on Google Maps to map my routes. I feel safe riding my bike.

TravelforFun
by TravelforFun
Fri Feb 23, 2024 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: 0% 60 month Car loan in todays 5% Savings Environment
Replies: 43
Views: 4361

Re: 0% 60 month Car loan in todays 5% Savings Environment

Lee_WSP wrote: Fri Feb 23, 2024 5:53 pm
delamer wrote: Fri Feb 23, 2024 5:23 pm Where did you get the idea that a true Boglehead never buys a new car?
All the responses on the should I buy a car threads. You’d think we all drive twenty year old cars.
Lol.

TravelforFun
by TravelforFun
Fri Feb 23, 2024 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Using withholding on Roth conversion instead of estimated tax payment
Replies: 86
Views: 5894

Re: Using withholding on Roth conversion instead of estimated tax payment

I’m planning on doing my first large Roth conversions from traditional IRA in 2024. I’d like to make sure that I’ve got the tax angle straight. I’d like to hold onto the money that I’ll owe Uncle Sam as long as possible, to earn interest in my Vanguard MM fund. So what I’m thinking is that I won’t pay any estimated taxes or do any withholding during 2024 as I make smaller Roth conversions, receive dividends and interest, etc. Then I’ll make one large Roth conversion in late 2024, and withhold (say) 90% of that conversion for taxes. For example, maybe I’ll convert $50,000 in December 2024 and have 90% ($45,000) withheld for taxes, which will satisfy my tax obligation for the year. The remaining $5,000 will go into my Roth IRA. Further, I’ll...
by TravelforFun
Thu Feb 22, 2024 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: Using withholding on Roth conversion instead of estimated tax payment
Replies: 86
Views: 5894

Re: Using withholding on Roth conversion instead of estimated tax payment

I’m planning on doing my first large Roth conversions from traditional IRA in 2024. I’d like to make sure that I’ve got the tax angle straight. I’d like to hold onto the money that I’ll owe Uncle Sam as long as possible, to earn interest in my Vanguard MM fund. So what I’m thinking is that I won’t pay any estimated taxes or do any withholding during 2024 as I make smaller Roth conversions, receive dividends and interest, etc. Then I’ll make one large Roth conversion in late 2024, and withhold (say) 90% of that conversion for taxes. For example, maybe I’ll convert $50,000 in December 2024 and have 90% ($45,000) withheld for taxes, which will satisfy my tax obligation for the year. The remaining $5,000 will go into my Roth IRA. Further, I’ll...
by TravelforFun
Thu Feb 22, 2024 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: FIRE vs Loving your work
Replies: 101
Views: 8358

Re: FIRE vs Loving your work

H-Town wrote: Thu Feb 22, 2024 11:22 am
TravelforFun wrote: Thu Feb 22, 2024 11:04 am
Marjimmy wrote: Thu Feb 22, 2024 8:18 am If you love your work and do not plan to retire even when you can afford to, what do you do?
When I hear my friends saying the reason they're still working even when they're at retirement age and can afford to retire is because they love their job, boss, coworkers, etc; I would ask, 'would you continue to go in if they didn't pay you?' Then cricket.

TravelforFun
If they pay even less than they paid me last year + 10% COL, then I'm gone. No hesitation. Not even saying goodbye :mrgreen:
It all boils down to money.

TravelforFun
by TravelforFun
Thu Feb 22, 2024 11:04 am
Forum: Personal Finance (Not Investing)
Topic: FIRE vs Loving your work
Replies: 101
Views: 8358

Re: FIRE vs Loving your work

Marjimmy wrote: Thu Feb 22, 2024 8:18 am If you love your work and do not plan to retire even when you can afford to, what do you do?
When I hear my friends saying the reason they're still working even when they're at retirement age and can afford to retire is because they love their job, boss, coworkers, etc; I would ask, 'would you continue to go in if they didn't pay you?' Then cricket.

TravelforFun
by TravelforFun
Thu Feb 22, 2024 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Financial account setup options - which one?
Replies: 5
Views: 559

Re: Financial account setup options - which one?

Hello everyone, I am trying to optimize financial flow of income, investment and expenses. Appreciate if you can share your thoughts and your experiences on below options and what would you prefer in terms of - 1. Simplicity 2. Encourage Pay yourself first strategy 3. Security (limiting exposure of all accounts if one gets compromised) 4. if possible then keep income, expenses and investments separate from each other Option A: BOA Checking as Hub Payroll -> BOA checking Hub (all income deposited here) From BOA checking hub -> transfer to Fidelity for investments From BOA checking hub -> all expenses (bills, ach, zelle, checks, ATM) Option B: Fidelity Brokerage as Hub Payroll -> Fidelity Brokerage Hub (all income deposited here) From Fideli...
by TravelforFun
Wed Feb 21, 2024 4:47 pm
Forum: Personal Consumer Issues
Topic: Full solar ECLIPSE April 2024!
Replies: 80
Views: 9389

Re: Full solar ECLIPSE April 2024!

I'm excited to have 100% totality at our house on Cedar Creek Lake, TX. We have a huge sundeck and have invited a number of friends to come and view it with us. T-shirts and glasses have already been bought. I heard the next one to pass over us again is 2075 so this is IT. Fingers crossed for a clear and sunny day.

TravelforFun
by TravelforFun
Tue Feb 20, 2024 6:33 pm
Forum: Personal Investments
Topic: Worthy Bonds - my thoughts in 2024
Replies: 7
Views: 1545

Re: Worthy Bonds - my thoughts in 2024

Wow! I didn't realize this. I'd held two Worthy bonds for years but cashed them out last June because I needed that money. I like the company because they paid exactly what they promised. Hope their issues are resolved soon.

TravelforFun
by TravelforFun
Mon Feb 19, 2024 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: How Does TurboTax Know What I Use HSA Money For?
Replies: 8
Views: 1034

Re: How Does TurboTax Know What I Use HSA Money For?

On my version of TT, I follow this sequence:

- 'Let's get the number from your 1099-HSA'. I enter the normal distribution amount of $35K shown on my 1099-HSA Form
- 'Did you spend your HSA money on medical expenses only?' I click 'yes' and a note states, 'It's tax-free if you did.'

That means my taxes wouldn't be affected by the HSA distribution, right? But no. If I remove the $35K distribution, my federal taxes would be lower as if I had less income and hence, less taxes. Does that mean part of the $35K HSA distribution is somehow counted as income and taxed. But why?

TravelforFun
by TravelforFun
Mon Feb 19, 2024 10:05 am
Forum: Personal Finance (Not Investing)
Topic: How Does TurboTax Know What I Use HSA Money For?
Replies: 8
Views: 1034

Re: How Does TurboTax Know What I Use HSA Money For?

ejm009 wrote: Mon Feb 19, 2024 9:42 am Is TT asking

1) How much did you spend in 2023 for medical expenses.
2) How much did you spend in 2023 for medical expenses incurred in 2023.

My TT version asks:
" Did you spend your HSA money on medical expenses only?"
I don't recall seeing the question in bold. If there was that question and I clicked 'Yes', I should be ok then but got to go back and look.

TravelforFun
by TravelforFun
Mon Feb 19, 2024 9:25 am
Forum: Personal Finance (Not Investing)
Topic: How Does TurboTax Know What I Use HSA Money For?
Replies: 8
Views: 1034

How Does TurboTax Know What I Use HSA Money For?

I withdrew money ($35K) from a small HSA account and closed the account in 2023. The account was established years ago and had been inactive for years. The medical bills and long term care premiums I had paid the last few years was over $35K so I know I shouldn't be taxed on any of this HSA withdrawal.

However, when I do my 2023 taxes, TurboTax asked me if I withdrew money from an HSA in 2023 (yes, $35K), if I had medical expenses in 2023 (yes, $10K), but no questions on previous-year medical expenses. Since I can't see all the calculations TurboTax makes, would it assume I had used $25K of HSA money for non-medical expenses and apply the taxes accordingly?

TravelforFun
by TravelforFun
Mon Feb 19, 2024 9:05 am
Forum: Personal Finance (Not Investing)
Topic: Contractor Won’t Provide Receipt
Replies: 16
Views: 2923

Re: Contractor Won’t Provide Receipt

vnatale wrote: Sun Feb 18, 2024 5:54 pm
TravelforFun wrote: Fri Feb 16, 2024 10:53 pm
popoki wrote: Fri Feb 16, 2024 9:54 pm In my state, materials are taxable but not labor.
Same here in TX and that’s why I need the receipt showing labor and material costs.

TravelforFun
According to this ... both are taxed:

https://www.ferkeybuilders.com/differen ... of%20Texas.

"The sales tax rate in Texas is 6.25%, and this tax is imposed on the sale of all construction materials and services."

If true, then your sales tax would have been $152,000 X (.0625/1.0625) or $8,941 (6.25% of $143,059).
Thanks for the link.

TravelforFun
by TravelforFun
Fri Feb 16, 2024 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: Contractor Won’t Provide Receipt
Replies: 16
Views: 2923

Re: Contractor Won’t Provide Receipt

toddthebod wrote: Fri Feb 16, 2024 10:06 pm
muffins14 wrote: Fri Feb 16, 2024 9:51 pm Did you sell the house?why do you believe you should get some deduction or credit for building a boat house?
It sounds like he wants to deduct the taxes he paid which would fall under the SALT deduction.
Right!

TravelforFun
by TravelforFun
Fri Feb 16, 2024 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: Contractor Won’t Provide Receipt
Replies: 16
Views: 2923

Re: Contractor Won’t Provide Receipt

popoki wrote: Fri Feb 16, 2024 9:54 pm In my state, materials are taxable but not labor.
Same here in TX and that’s why I need the receipt showing labor and material costs.

TravelforFun
by TravelforFun
Fri Feb 16, 2024 9:21 pm
Forum: Personal Finance (Not Investing)
Topic: Contractor Won’t Provide Receipt
Replies: 16
Views: 2923

Contractor Won’t Provide Receipt

I hired a contractor to build me a boat house last year. We have a signed contract detailing the work, the contract amount of $152,000, and the payment schedule. The work was beautifully done by the contractor and paid by me in September 2023.

Now it’s time for me to work on my taxes and I need a receipt from the contractor showing the sale taxes since I’m itemizing my return and want to include the sales taxes on the boat house in my deductions but I can’t get the contractor to provide me the receipt He gave me different excuses but no receipt. I don’t want to hammer him too hard because the boat house is still under his warranty.

Can I estimate the sales tax and include it in my return?

TravelforFun
by TravelforFun
Tue Feb 13, 2024 8:15 am
Forum: Personal Finance (Not Investing)
Topic: Loan advice
Replies: 14
Views: 1654

Re: Loan advice

OP,

You can edit your post to eliminate the confusion around whether you have a current mortgage or not.

[Off-topic comment removed by admin LadyGeek]

TravelforFun
by TravelforFun
Fri Feb 09, 2024 7:01 pm
Forum: Personal Finance (Not Investing)
Topic: Question for Texans
Replies: 11
Views: 1389

Re: Question for Texans

Where are you moving from? Hope you can deal with the summer heat. The D-FW Area had 55 days of over 100 degrees last summer with no rain.

We have no state income tax but they make up for it with property taxes levied by county, city, school and hospital districts. There are also sales, gasoline, vehicle taxes, etc.

Public transportation is nonexistent.

But BBQ and Tex-Mex are to die for.

TravelforFun
by TravelforFun
Wed Feb 07, 2024 6:59 pm
Forum: Personal Investments
Topic: Meta's jump
Replies: 39
Views: 4337

Re: Meta's jump

z3r0c00l wrote: Tue Feb 06, 2024 7:11 am
magicrat wrote: Tue Feb 06, 2024 5:17 am You take advantage of it by holding a total stock market fund and not watching anything.
Boom, own all the stocks and you will always take advantage of their little jumps and falls.
Don't look for the needle, buy the whole haystack.

TravelforFun
by TravelforFun
Wed Feb 07, 2024 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Quit or stay at my job while searching.
Replies: 22
Views: 2090

Re: Quit or stay at my job while searching.

It's easier to get a new job while you still have a job.

TravelforFun
by TravelforFun
Sun Feb 04, 2024 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Max Amounts For Married Couple
Replies: 16
Views: 2643

Re: Social Security Max Amounts For Married Couple

suemarkp wrote: Sun Feb 04, 2024 11:19 am
pyesquared wrote: Thu Feb 01, 2024 2:55 pm It was that openSS site that gave me awareness that a lower earning spouse can file early on their own record and switch to the higher earning spousal record when they finally file. This way you can get some income while allowing the larger account payment to grow.
:sharebeer
Not anymore. That used to work, but they took it away. If you are in your early 60s now, that window has closed.

For OP, it is generally better for the lower earning spouse to file at 62 unless they are still working. But run your situation through opensocialsecurity to verify.
This is not correct. Lower earning spouse can file for their own benefits at 62 then file for spousal at their full retirement age after the other spouse files.

TravelforFun
by TravelforFun
Sun Feb 04, 2024 8:59 pm
Forum: Investing - Theory, News & General
Topic: Why No Love For BND?
Replies: 183
Views: 16307

Re: Why No Love For BND?

BND has been the recommended bond fund for the BHs. Last couple of years revealed a “weakness” in BND. This weakness is nothing new, why did the BH strategy not divulge this issue? Is this an over reaction or legitimate concern? 2021: Vanguard's descriptions of the risk characteristics of these funds are: VFIDX, VBTLX, VTABX level 2: "Vanguard funds classified as conservative to moderate are subject to low-to-moderate fluctuations in share prices. In general, such funds may be appropriate for investors with medium-term investment horizons (four to ten years)." In other words, Vanguard is saying that, expressed as total growth including fund dividend payments, three of them will jink up and down while gradually rising, and you sho...
by TravelforFun
Sun Feb 04, 2024 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: When to Start Soc Sec
Replies: 61
Views: 6812

Re: When to Start Soc Sec

stan1 wrote: Sun Feb 04, 2024 8:42 pm Anecdotal but several of my friends who have had heart attack(s) are going ahead and taking their SS at 67 not waiting until 70 even if they have good medical care and do their best to be healthy. It's not that much more to wait, and they have to live a lot longer to take advantage of it.
24% more in monthly payments (67 to 70). I took it 70 mainly because of survival benefits for my wife.

TravelforFun
by TravelforFun
Sun Feb 04, 2024 8:44 pm
Forum: Personal Finance (Not Investing)
Topic: What percentage of spending normally goes to Taxes?
Replies: 59
Views: 5243

Re: What percentage of spending normally goes to Taxes?

anoop wrote: Fri Feb 02, 2024 10:55 pm I see you skipped sales tax which is pretty steep. :)
And gasoline, hotel, airfares, car rental, etc.

TravelforFun
by TravelforFun
Sun Feb 04, 2024 3:07 pm
Forum: Personal Consumer Issues
Topic: Retirees, how much $ do you actually need
Replies: 48
Views: 7268

Re: Retirees, how much $ do you actually need

5th year in retirement and we've spent 50% more in each of those years than our pre-retirement budget. Even with the spending spree, our net asset has gone up thanks to the market. I believe we can make major adjustments to our budget if sequence of return becomes negative by cutting back on our discretionary spends.

TravelforFun
by TravelforFun
Sat Feb 03, 2024 3:43 pm
Forum: Personal Investments
Topic: Do Bogleheads "Buy the Dip"?
Replies: 136
Views: 12632

Re: Do index investors "Buy the Dip"?

I guess I'm asking: If there was some event where the market dropped 30% or more, would you be inclined to use cash you held elsewhere to take advantage of market at the time? The answer is still No. That's because I do not hold any cash anywhere else. I would use my bond funds and DO use my bond funds. It might be educational to review some old threads at bogleheads.org when the Stock Market did drop 30% or more. Can you tell me the dates and I can find and link some threads and discussions for you to read. To me the answer could be Yes because I consider my cash a portion of my bond holding and if the markets drops enough to throw my allocation out of my bandwidth, I would employ my cash to buy more stocks. This is of course not market t...
by TravelforFun
Thu Feb 01, 2024 7:15 pm
Forum: Personal Finance (Not Investing)
Topic: Children unprepared to manage our trust after our deaths.
Replies: 67
Views: 7892

Re: Children unprepared to manage our trust after our deaths.

OP, I have some illiquid investments like yours and I trust that my adult kids can figure out what to do when I pass. In the information age with search engines, tax accountant, and estate attorney; they will know what to do. So I make sure all my investment account information including contact info and other instructions are written down and are included in our 'Will' folder.

TravelforFun
by TravelforFun
Tue Jan 30, 2024 6:32 pm
Forum: Personal Consumer Issues
Topic: Creating a gmail account for elderly Mom - legal? How to?
Replies: 34
Views: 3014

Re: Creating a gmail account for elderly Mom - legal? How to?

02nz wrote: Mon Jan 29, 2024 11:13 am Leaving aside any legal issues - you can use a separate email address for this without creating a new Google/Gmail account: if your address is john.doe@gmail.com, then any email sent to johndoe@gmail.com or j.ohndoe@gmail.com (or any other variant with the period placed elsewhere) will also be sent to the same inbox
Really? You would get emails that have slightly different addresses? I didn't know this.

TravelforFun