Search found 2832 matches

by Bacchus01
Tue Jul 16, 2019 8:21 pm
Forum: Personal Investments
Topic: 529 - lump sum or annual?
Replies: 12
Views: 634

Re: 529 - lump sum or annual?

NJ_Bogler wrote:
Tue Jul 16, 2019 7:12 pm
Does your state offer a deduction for 529 contributions? If not I would lump sum.
My state allows me to lump sum and carry the deduction for 5 years. Best of both worlds...for us
by Bacchus01
Tue Jul 16, 2019 8:17 pm
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 63
Views: 2845

Re: College cost prediction and savings for 5, 3, and newborn

There very well could be a revolution in education coming. DS is currently taking a couple summer courses at his expensive private college and because the schedules make his classes overlap, he's taking one as an online course. This has become a near standard at his college, where students can watc...
by Bacchus01
Tue Jul 16, 2019 8:16 pm
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 63
Views: 2845

Re: College cost prediction and savings for 5, 3, and newborn

There very well could be a revolution in education coming. DS is currently taking a couple summer courses at his expensive private college and because the schedules make his classes overlap, he's taking one as an online course. This has become a near standard at his college, where students can watc...
by Bacchus01
Tue Jul 16, 2019 7:17 am
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 63
Views: 2845

Re: College cost prediction and savings for 5, 3, and newborn

My advice would be to take advantage of any state tax benefit and no more. Do that yearly and let it ride. If you have extra, take some classes on your own and remember you need a new laptop and system for class :)
by Bacchus01
Tue Jul 16, 2019 7:15 am
Forum: Personal Finance (Not Investing)
Topic: College cost prediction and savings for 5, 3, and newborn
Replies: 63
Views: 2845

Re: College cost prediction and savings for 5, 3, and newborn

There very well could be a revolution in education coming. DS is currently taking a couple summer courses at his expensive private college and because the schedules make his classes overlap, he's taking one as an online course. This has become a near standard at his college, where students can watc...
by Bacchus01
Mon Jul 15, 2019 7:33 pm
Forum: Personal Investments
Topic: ORP and RPM recommend large mega Roth's from IRA
Replies: 40
Views: 1965

Re: ORP and RPM recommend large mega Roth's from IRA

$5M in pre-tax? Really? I’d love to know how. Here's one way to do it: I had my own business, a 1-person C-corporation,I could contribute up to 15% of my W2 to a profit-sharing plan (PSP) plus another 10% of my W2 to a Money Purchase Pension Plan, for a total of 25% per year which went mostly into ...
by Bacchus01
Mon Jul 15, 2019 7:32 pm
Forum: Personal Investments
Topic: Old pension plan- take the lump sum or wait for the monthly payout?
Replies: 23
Views: 1859

Re: Old pension plan- take the lump sum or wait for the monthly payout?

Understand that first you should not look at the lump value in14 years, but the value to your portfolio which is more like $90k ($302*12/4%).

That said, I’d still take the lump and roll into my 401k.
by Bacchus01
Sun Jul 14, 2019 10:28 am
Forum: Personal Investments
Topic: ORP and RPM recommend large mega Roth's from IRA
Replies: 40
Views: 1965

Re: ORP and RPM recommend large mega Roth's from IRA

TomatoTomahto wrote:
Sun Jul 14, 2019 9:18 am
Bacchus01 wrote:
Sat Jul 13, 2019 6:13 pm
$5M in pre-tax? Really? I’d love to know how.
It’s not that difficult with two getting paychecks and a bit of luck.
Which doesn’t answer the question at all.
by Bacchus01
Sat Jul 13, 2019 6:13 pm
Forum: Personal Investments
Topic: ORP and RPM recommend large mega Roth's from IRA
Replies: 40
Views: 1965

Re: ORP and RPM recommend large mega Roth's from IRA

$5M in pre-tax? Really? I’d love to know how.
by Bacchus01
Fri Jul 12, 2019 10:51 pm
Forum: Personal Investments
Topic: Refinance 30yr - 4.75%?
Replies: 23
Views: 1645

Re: Refinance 30yr - 4.75%?

Bacchus: a no-cost refi is another way of saying no out of pocket costs. All expenses are just rolled into the loan. Regardless, teh point is the same. For a slightly higher rate, OP can just sign some paperwork and not have to cut a check. That way if rates decline again, just refi again. Paying p...
by Bacchus01
Fri Jul 12, 2019 10:50 pm
Forum: Personal Finance (Not Investing)
Topic: What would you charge if you were a FA?
Replies: 29
Views: 1952

Re: What would you charge if you were a FA?

Why would you charge less than market rate?

If someone could charge less than market rate and make more money, wouldn't they?

Charge market rate.
by Bacchus01
Fri Jul 12, 2019 8:47 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

Yeah actually I was going to say we live in a HCOL area (not VHCOL), and if I don't include my Mortgage, daycare, savings, and income/payroll tax (all gone in retirement) only spend about 40k-45k per year. We stay at nice hotels, like nice wine and whiskey, I consider everything pretty cushy. BTW, ...
by Bacchus01
Fri Jul 12, 2019 3:14 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

I also think in many MCOL areas if you have a paid off mortgage, cars and debt (which most peopel don't), 68k gives you a pretty luxurious life provided you are getting medicare or ACA. Justin at www.rootofgood.com has three children, and they have spent under $40k annually for the last six years o...
by Bacchus01
Fri Jul 12, 2019 3:13 pm
Forum: Personal Investments
Topic: Refinance 30yr - 4.75%?
Replies: 23
Views: 1645

Re: Refinance 30yr - 4.75%?

Be aware a no-cost refinance only refers to closing costs. If you refinance, you typically have to pay again for buyer's title insurance. Maybe that's a local state issue? I've done several no-cost refis in (SoCal in) the past years (as the rates kept dropping), and all expenses -- including any ti...
by Bacchus01
Fri Jul 12, 2019 3:13 pm
Forum: Personal Investments
Topic: Refinance 30yr - 4.75%?
Replies: 23
Views: 1645

Re: Refinance 30yr - 4.75%?

You’ll save ~$3250 in year one in a 30 and another $1600 for a 15.

No doubt you should refinance. I’d go 15 if you can swing it, but the spread on the 20 is not worth it.
by Bacchus01
Fri Jul 12, 2019 6:11 am
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

I also think in many MCOL areas if you have a paid off mortgage, cars and debt (which most peopel don't), 68k gives you a pretty luxurious life provided you are getting medicare or ACA. Justin at www.rootofgood.com has three children, and they have spent under $40k annually for the last six years o...
by Bacchus01
Fri Jul 12, 2019 6:06 am
Forum: Personal Investments
Topic: Can I put money in Roth before I earn it?
Replies: 8
Views: 1234

Re: Can I put money in Roth before I earn it?

Yes. I do it every year on Jan 1 (or as soon as possible after)
by Bacchus01
Thu Jul 11, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Home Refinance
Replies: 25
Views: 1679

Re: Home Refinance

I have a 30-year mortgage sitting at $381k at 3.875% and have been looking at refinancing for about a month now. I simply can't find a 30 year rate worth jumping on that doesn't have a ton of out-of-pocket closing costs to get the rate lower. For me I need to see a 30-year in the 3.5% range or lowe...
by Bacchus01
Thu Jul 11, 2019 12:12 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 272
Views: 25710

Re: Can I afford this 2.3 million dollar home?

Just read all 6 pages of this, surprised it went that long and at the varied responses. Lot of good pros/cons. The true bogleheads-Corolla fans came out hardcore. Not surprising, that's what this forum is. OP have you made any further decisions on this? After reading, I imagine you will move forwar...
by Bacchus01
Thu Jul 11, 2019 12:08 pm
Forum: Personal Finance (Not Investing)
Topic: Evaluating interest-only mortgage
Replies: 13
Views: 1204

Re: Evaluating interest-only mortgage

I would go for an interest-only and I have done so before. I'm not sure I'd do it on that spread, however. Seems close. I wouldn't worry about the monthly payment. Worry about the monthly INTEREST payment. Invest the difference. Is that worth it on a post-tax basis? I haven't modeled it, but seems t...
by Bacchus01
Thu Jul 11, 2019 5:51 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 272
Views: 25710

Re: Can I afford this 2.3 million dollar home?

Just read all 6 pages of this, surprised it went that long and at the varied responses. Lot of good pros/cons. The true bogleheads-Corolla fans came out hardcore. Not surprising, that's what this forum is. OP have you made any further decisions on this? After reading, I imagine you will move forwar...
by Bacchus01
Wed Jul 10, 2019 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Home Refinance
Replies: 25
Views: 1679

Re: Home Refinance

Don’t pay any attention to the monthly payment.

Look at the interest payment. If theni terest payment reduction pays back the refi costs in under two years, refinance. That’s my rule.
by Bacchus01
Tue Jul 09, 2019 8:12 pm
Forum: Personal Consumer Issues
Topic: Who cuts your hair? And for how much?
Replies: 151
Views: 7786

Re: Who cuts your hair? And for how much?

Mens' Hair House.

I think it's $19 + $5 tip.

First weekend of every month.
by Bacchus01
Tue Jul 09, 2019 5:18 pm
Forum: Personal Investments
Topic: Portfolio Review for 35 year old; Early Retirement at age 55
Replies: 33
Views: 4983

Re: Portfolio Review for 35 year old; Early Retirement at age 55

Your biggest ROI will be to focus on your career and save/spend ratios.

You’ll blow past that number.
by Bacchus01
Tue Jul 09, 2019 1:00 pm
Forum: Personal Consumer Issues
Topic: Sandals with arch support
Replies: 25
Views: 1936

Re: Sandals with arch support

Birkenstocks. They are all I wear in the summer. I don't care if people think I'm a hippie. They form to your feet. Very comfortable.
by Bacchus01
Tue Jul 09, 2019 10:58 am
Forum: US Chapters
Topic: Post your Financial Milestone Announcements Here
Replies: 849
Views: 105035

Re: Post your Financial Milestone Announcements Here

I missed it, but I reached a milestone in the last week some time. I eclipsed $1M in my 401K account. At age 45. Just the 401K account. That excludes my wife's accounts and all other investments. JUST my 401K. I honestly didn't think that would ever happen when I was in my 20s. Woohooo. AND, sometim...
by Bacchus01
Mon Jul 08, 2019 7:34 pm
Forum: Personal Consumer Issues
Topic: Dealer shows trade-in value much higher to avoid sales tax
Replies: 34
Views: 3535

Re: Dealer shows trade-in value much higher to avoid sales tax

Stinky wrote:
Mon Jul 08, 2019 7:31 pm
Bacchus01 wrote:
Mon Jul 08, 2019 4:58 pm
The dealer is committing fraud.
If that’s the case, I’m not sure how or why it’s OP’s problem.
You’re right. Ethics be damned.
by Bacchus01
Mon Jul 08, 2019 7:33 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

I didn't read the entire thread, so if this was already mentioned I apologize. Aside from the already-mentioned reasons (location, debt, pension?, etc.) the $1.7M number is meaningless. Someone who has lived their entire life earning $40-50k per year, drives an average car, and lives in a paid-off ...
by Bacchus01
Mon Jul 08, 2019 3:35 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

The average of 1.7M is a bit misleading. It's extremely misleading, and not the least bit useful. That number only has meaning in the context of the age of the respondent, their current assets, and their expected cost of living. Taken in isolation, it is not only misleading, but meaningless. While ...
by Bacchus01
Mon Jul 08, 2019 12:19 pm
Forum: Personal Consumer Issues
Topic: Where to sit @ Fenway Park?
Replies: 11
Views: 735

Re: Where to sit @ Fenway Park?

I've only been there once. Sat 4 rows behind home plate, directly in front of the players' wives/girlfriends. The seats were awesome. Listening to the group behind me who was not remotely interested in the game but far more interested in their clothes, instagram, selfies, whatever, was pretty annoyi...
by Bacchus01
Mon Jul 08, 2019 12:17 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

What's the magic number for retirement savings? $1.7 million, according to a survey from Charles Schwab. How many of here are retired, or thinking of retiring, near this #? Assuming no pension and excluding paid for main residences in the numbers. My target is significantly much higher than $1.7 mi...
by Bacchus01
Mon Jul 08, 2019 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Should I be applying the money I am saving towards homes principal or am I doing it right by saving it?
Replies: 21
Views: 2916

Re: Should I be applying the money I am saving towards homes principal or am I doing it right by saving it?

If the only option is to save that money to pay principal, then I would definitely just pay off the principal early instead of having it sit in a bank earning little interest (which is taxable too). A better alternative would be to invest that money into something that has a longer term horizon cons...
by Bacchus01
Mon Jul 08, 2019 12:14 pm
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

Most of the retirees that I know live on Social Security. Some have a pension to add to that. I will guess half own a house and half rent. The vast majority have no savings or investments other than what is in their checking account or maybe an actual stash of cash under the mattress. That's realit...
by Bacchus01
Mon Jul 08, 2019 11:29 am
Forum: Personal Investments
Topic: Expected returns for 80/20 stock bond for next 10 years.
Replies: 184
Views: 17916

Re: Expected returns for 80/20 stock bond for next 10 years.

Here's Vanguard's latest estimates: "While inflation is expected to remain low, investors should expect the nominal rate of return on their investments to be in the range of 3% to 5%, compared with historical averages of 9% to 11%, a panel of Vanguard economists said." So, real returns as low as 1-...
by Bacchus01
Mon Jul 08, 2019 11:23 am
Forum: Personal Consumer Issues
Topic: Buy a refrigerator at Sears?
Replies: 37
Views: 2507

Re: Buy a refrigerator at Sears?

Sears is dead, buying from them at this point makes no sense whatsoever. Just go to Lowe’s / Home Depot / anywhere else This. Why would you take that risk? Sears is very much alive. Recently bought a 4-piece kitchen appliance package from them. Delivered, installed, and removed old appliances (they...
by Bacchus01
Mon Jul 08, 2019 11:21 am
Forum: Investing - Theory, News & General
Topic: Americans believe they need $1.7 million, on average, to retire
Replies: 284
Views: 26900

Re: Americans believe they need $1.7 million, on average, to retire

I think the number is high for most people. It would be very low for us, but I think for the 80% of the people in the middle of the population, that number is high.
by Bacchus01
Mon Jul 08, 2019 11:20 am
Forum: Personal Investments
Topic: My asset allocation for an agressive 29 yo - any thoughts?
Replies: 19
Views: 1793

Re: My asset allocation for an agressive 29 yo - any thoughts?

I agree with last poster, ditch it all and go 100% VTI. Simple is better. This. That's what I would do. You don't need the complexity. Your absolute biggest ROI right now, and for the next 20 years, is going to be a combination of your career growth and your spending habits/savings rate. Focus way ...
by Bacchus01
Mon Jul 08, 2019 6:09 am
Forum: Personal Consumer Issues
Topic: Is Hyundai the value sweet spot?
Replies: 139
Views: 13041

Re: Is Hyundai the value sweet spot?

The higher the market value of the car, the higher the premium that covers the "collision" part of the insurance. So after a few years, if the market value of the car drops a lot, then the insurance premium should drop also, everything else being equal. I have not had that experience. At all. We ow...
by Bacchus01
Mon Jul 08, 2019 5:36 am
Forum: Investing - Theory, News & General
Topic: Historically has it been bad to withhold further contributions 8 years after the beginning of a bull market?
Replies: 36
Views: 3456

Re: Historically has it been bad to withhold further contributions 8 years after the beginning of a bull market?

I think it is possible to make a case that the bull market ended in late September/early October 2018 and fell just shy of the 20% drop which usually defines a bear market, hitting a low on Dec 24. For a list (admittedly published in 2013) previous bull & bear markets see: https://greenbackd.com/20...
by Bacchus01
Mon Jul 08, 2019 5:32 am
Forum: Personal Consumer Issues
Topic: Is Hyundai the value sweet spot?
Replies: 139
Views: 13041

Re: Is Hyundai the value sweet spot?

Their quality and performance continues to improve and they represent a great up-front value. I think their resale continues to be terrible relative to other models. Just make sure you understand the full cost of ownership including disposal. "Terrible resale value" is actually a good thing if you ...
by Bacchus01
Mon Jul 08, 2019 5:30 am
Forum: Personal Finance (Not Investing)
Topic: 529 to pay off student loans?
Replies: 4
Views: 652

Re: 529 to pay off student loans?

Sounds like speculation on pending regulations
by Bacchus01
Sun Jul 07, 2019 5:16 pm
Forum: Personal Consumer Issues
Topic: Buy a refrigerator at Sears?
Replies: 37
Views: 2507

Re: Buy a refrigerator at Sears?

cdu7 wrote:
Sun Jul 07, 2019 8:46 am
Sears is dead, buying from them at this point makes no sense whatsoever. Just go to Lowe’s / Home Depot / anywhere else
This. Why would you take that risk?
by Bacchus01
Sun Jul 07, 2019 2:09 pm
Forum: Personal Investments
Topic: 6M retirement asset allocation and tax advice
Replies: 21
Views: 3314

Re: 6M retirement asset allocation and tax advice

Roth conversions

Move
by Bacchus01
Sun Jul 07, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Would You Refinance Now?
Replies: 11
Views: 1053

Re: Would You Refinance Now?

Don’t look at your monthly payment. It’s not relevant.

Look at your interest payments. Payback is much sooner than 19 months, especially on the 15.

I would refi. Of course, I might wait a few weeks as well.
by Bacchus01
Sun Jul 07, 2019 8:37 am
Forum: Personal Consumer Issues
Topic: Buy a refrigerator at Sears?
Replies: 37
Views: 2507

Re: Buy a refrigerator at Sears?

Nowizard wrote:
Sun Jul 07, 2019 8:11 am
Just as Craftsman has shown up at the Big Box stores, Kenmore will show up elsewhere, too. A warranty, I assume, is with the manufacturer, not the retailer. Kenmore is highly rated even if Sear's is not.

Tim
That’s because Craftsman was sold to Stanley black and Decker.
by Bacchus01
Sat Jul 06, 2019 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Refi at this rate?
Replies: 30
Views: 2638

Re: Refi at this rate?

What is everyone's balance on the mortgage or percentage paid? I'm looking to refi, but only have about 9 years left on a original 30 year (opened 1 year ago.) Most of my quotes for refinance aren't much lower than 4, while my current rate is 4.3. I'm wondering if higher balances give the lower rat...
by Bacchus01
Sat Jul 06, 2019 10:51 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 1279
Views: 119907

Re: U.S. stocks continue to soar!

The only think I’m trying to market time right now is mortgage rates. If they cut further and I can get a 2.5% 30 year cash-out refi, I’m all in on that baby! But, even if I can get a 2.75% 15-year with minimal closing, I’ll jump on that too. Is that a no-cost cash-out 30 year at 2.5%? I’d be all o...
by Bacchus01
Sat Jul 06, 2019 11:01 am
Forum: Personal Consumer Issues
Topic: Buy a refrigerator at Sears?
Replies: 37
Views: 2507

Re: Buy a refrigerator at Sears?

Unless it’s like half price and you are ready to throw something away in three years if it breaks, I can’t imagine a single possible reason to buy ANYTHING from Sears right now.
by Bacchus01
Sat Jul 06, 2019 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Refi at this rate?
Replies: 30
Views: 2638

Re: Refi at this rate?

800 k property 600 k purchase mortgage taken out last year as 10/1 at 3.875 Current payoff balance is 585 I have an opportunity to refi at the moment to a 5/1 at 3.44 with about $1k in fees. Saves me $150/month for next 5 years but also shortens my lock from 9 more years to 5. Break even for closin...