Search found 152 matches

by david
Wed Oct 10, 2018 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Formula for when to buy in bulk
Replies: 41
Views: 3326

Re: Formula for when to buy in bulk

My parents would buy in bulk (with sales + couponing) and waste rooms worth of space storing things for the future. For items I use regularly, I try and buy enough until the next sale (which are typically periodic, you just have to figure out an approximate period), assuming the items are durable en...
by david
Mon Sep 17, 2018 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Whole Life vs Universal Life Insurance
Replies: 30
Views: 1772

Re: Whole Life vs Universal Life Insurance

You pay for that privilege, though. So having assets instead can also be used to borrow against and pay for things. Separating insurance from investment is also likely to be cheaper. Agents typically make a bundle on these policies. Also you never get both the cash value and the death benefit. So ta...
by david
Thu Jun 21, 2018 5:41 am
Forum: Investing - Help with Personal Investments
Topic: Bar Mitzvah Money Investing Ideas
Replies: 21
Views: 2061

Re: Bar Mitzvah Money Investing Ideas

Does he have earned income? If so, max out a Roth. I'd consider a 90/10 3-fund portfolio. He doesn't really need the bonds IMHO (I'd put this money towards retirement personally, and he can use cashflow in 10-15 years for whatever this could possibly buy) but it'll help teach about rebalancing more...
by david
Wed Jun 20, 2018 11:40 am
Forum: Investing - Theory, News & General
Topic: The Current Market
Replies: 22
Views: 1929

Re: The Current Market

The market peaked in late January of this year only to get hammered in early February. Since then the market has kind of yo-yo'ed up and down in loss territory for the last 4 months. I've been in the market for a number of years and I've not seen anything quite like this constant up and down over s...
by david
Tue Jun 19, 2018 3:04 am
Forum: Personal Finance (Not Investing)
Topic: Do you think it is smart to disclose that you have passive investments to other people?
Replies: 43
Views: 4650

Re: Do you think it is smart to disclose that you have passive investments to other people?

Let's say that you are a private practice lawyer, doctor, or some other sole proprietor with clients and that you own passive real estate rentals or other relatively passive cash-flowing businesses. Is it smart for you to disclose this to your clients when you are too busy to be as available for th...
by david
Tue Jun 19, 2018 2:45 am
Forum: Personal Consumer Issues
Topic: Which Supermarket are you?
Replies: 155
Views: 9446

Re: Which Supermarket are you?

Depending on the week I hit up a number of stores. All these stores are within 3 miles of me. I don't go to all of them each week. It depends on what is on sale and what we need. -Costco -99 Cent Store (has a surprisingly good food section) -Smart & Final -2 different local international food and fr...
by david
Wed Jun 13, 2018 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement
Replies: 74
Views: 7612

Re: Forbes: Millennials Aren't Having Kids Heres Why That's a Problem for Baby Boomer Real Estate and Retirement

I'm a Millennial on the older side of the generation. I see my friends and acquaintances really split. There are a number of my peers who are going gung ho with the boomer model: * family + suburban life * Another number are embracing a more minimalist lifestyle: city living, possibly with roommates...
by david
Wed Jun 13, 2018 12:28 pm
Forum: Investing - Help with Personal Investments
Topic: Thrivent?
Replies: 17
Views: 1899

Re: Thrivent?

Does anyone have any experience with this Lutheran financial service? I am interested in any impressions or comments. A family member is considering moving from Edward Jones to Thrivent for personal investments and a holding spot for business accounts for an inactive business. TIA My mother in law ...
by david
Tue Jun 12, 2018 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: House that was in trust is actually in estate
Replies: 22
Views: 2434

Re: House that was in trust is actually in estate

I am venting about a frustrating situation that I just discovered. My father had cancer and died in 2014. He and my mom took care of a lot of things, and most everything was moved into a trust in my mom's name. Mom died unexpectedly last year. We are selling her Florida home and have a buyer. I am ...
by david
Tue Jun 12, 2018 1:58 pm
Forum: Investing - Theory, News & General
Topic: Imagine a 10 year, 0%, noncallable loan
Replies: 49
Views: 3365

Re: Imagine a 10 year, 0%, noncallable loan

Imagine someone were to offer you a 10 year, 0% apr, noncallable loan for the amount of your one year gross income. Every month you have to pay back the principal until at the end of the 10th year, all the money was paid back. if a banker offered you these terms today, how much would you pay him fo...
by david
Sun Jun 03, 2018 4:51 am
Forum: Personal Consumer Issues
Topic: Need to replace my Vizio TV..............
Replies: 35
Views: 2864

Re: Need to replace my Vizio TV..............

Check the credit card you used to purchase the TV. Some cards extend the warranty on purchases (not just Costco cards or Costco purchases) I’m pretty sure chase sapphire doubles the warranty if the warranty less than one or two years, amex does the same. Don’t know the specifics so check with your ...
by david
Sun Jun 03, 2018 4:12 am
Forum: Personal Consumer Issues
Topic: Friends with an EJ Advisor
Replies: 49
Views: 4371

Re: Friends with an EJ Advisor

I've found that some EJ folks that I've interacted with are not really experts on personal finance. They know buzzwords and can sound professional, but at the end of the day they are in sales not investment analysis and push products to people. I don't talk finance with them.
by david
Sun Jun 03, 2018 3:57 am
Forum: Personal Finance (Not Investing)
Topic: Max out 401k w/credit card debt?
Replies: 30
Views: 2123

Re: Max out 401k w/credit card debt?

A lot of this advice is predicated on knowing how much you make and spend in order to pay off this debt. The more money you make, and savings elsewhere, the less of an issue. The less you make the more this looks like an emergency. Without knowing how much you make, I would cut out the 529 savings, ...
by david
Wed May 30, 2018 10:41 am
Forum: Personal Consumer Issues
Topic: Recommend new TV for 93 year old lady
Replies: 28
Views: 2166

Re: Recommend new TV for 93 year old lady

https://www.walmart.com/ip/Hisense-49-C ... /166752596

$220, 49 inches seems like it meets her needs. I can't speak to display quality.
by david
Tue May 29, 2018 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy into this medical practice?
Replies: 26
Views: 3260

Re: Should I buy into this medical practice?

They rent most of the equipment (MRI,CT, etc) and are renting the buildings (do not own the real estate). So, this business wouldn't own anything but is still valued at 3M? How? These projected earnings? Could you liquidate this investment? If so, how? And at what valuation? Would you get any vote ...
by david
Wed May 23, 2018 7:18 pm
Forum: Personal Finance (Not Investing)
Topic: Joint savings account: 6 withdrawals/month per PERSON or ACCOUNT?
Replies: 6
Views: 490

Re: Joint savings account: 6 withdrawals/month per PERSON or ACCOUNT?

Per account. See 12 CFR 204.2(d)(2) https://www.law.cornell.edu/cfr/text/12/204.2 (d) (1)Savings deposit means a deposit or account with respect to which the depositor is not required by the deposit contract but may at any time be required by the depository institution to give written notice of an i...
by david
Tue May 22, 2018 2:13 pm
Forum: Investing - Help with Personal Investments
Topic: How do you stop moving the goal posts.
Replies: 62
Views: 5485

Re: How do you stop moving the goal posts.

I would move the goalposts. From one with a number to achieve to one of spending targets. Are you coming in at or under budget with your spending? How have your investments done this year, should you adjust spending? Are you accomplishing your goals with your money that you need to (e.g., hitting yo...
by david
Tue May 22, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: How do you account for a defined benefit pension in your planning?
Replies: 4
Views: 608

Re: How do you account for a defined benefit pension in your planning?

I have a corporate role (Age 32) with a gross annual comp of $130K and my wife is a teacher (Age 32) and earns $80K. We live in a HCOL area of NJ. She does not participate in a 403B as we are instead contributing into my 401K and plan to do so until I'm maxed out, which should start this year. Sock...
by david
Thu May 17, 2018 10:53 am
Forum: Investing - Help with Personal Investments
Topic: Large Personal Injury Settlement
Replies: 58
Views: 5801

Re: Large Personal Injury Settlement

I'm still deciding how to divy everything up. 3 million isn't a whole lot in today's day and age, but I have a large advantage being so young. I aim to use some of it to start a business, a part to invest in real estate, so I have some consistent income in a down market, and the majority of it in a...
by david
Mon May 14, 2018 12:42 pm
Forum: Investing - Help with Personal Investments
Topic: Small gift from Grandma to infant - where to put it?
Replies: 21
Views: 2170

Re: Small gift from Grandma to infant - where to put it?

My stepmother would like to gift $1,000 to my infant son. Her wish is that I buy Disney (DIS) stock in a custodial account for him. I have vast majority of my investments at Fidelity, and my understanding is that the minimum to open such an account is $2,500. So I'm trying to determine other option...
by david
Mon May 14, 2018 12:32 pm
Forum: Personal Finance (Not Investing)
Topic: When is the right time to buy a house?
Replies: 28
Views: 2327

Re: When is the right time to buy a house?

I am 28 btw. Everyone says not to waste money on rent. Personally, I just waited so long because I haven't done any research on home buying. bogglek3sh4v, You are single. You should not buy a house. Your future spouse will force you to get a different house. KlangFool This happened to my brother-in...
by david
Mon May 14, 2018 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: When is the right time to buy a house?
Replies: 28
Views: 2327

Re: When is the right time to buy a house?

I have been renting for over 7 years now and I am spent $600 on average per month on rent. ... Everyone says not to waste money on rent. Personally, I just waited so long because I haven't done any research on home buying. I have been renting for a similar period of time. I spend a whole bunch more...
by david
Thu May 03, 2018 6:14 pm
Forum: Investing - Theory, News & General
Topic: How does stock buyback benefit investors?
Replies: 78
Views: 7056

Re: How does stock buyback benefit investors?

Occasionally I hear companies return their extra cash to their share holders by stock buybacks. Recently there was a report that Apple will return $100 billion to its share holders by stock buybacks. A typical argument goes like this: A company reduces the number of outstanding shares in the market...
by david
Thu May 03, 2018 6:06 pm
Forum: Investing - Help with Personal Investments
Topic: Swollen Emergency Fund....What now?
Replies: 43
Views: 3687

Re: Swollen Emergency Fund....What now?

The experts say 3-6 months of expenses is what we need in our emergency fund... I have over 6 months in there. Am I cheating my wife and I out potential growth due to my fear (possibly unfounded) of loss of principal? Having extra liquid cash in an emergency fund is a good insurance policy for bad ...
by david
Tue May 01, 2018 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: When/how did you start teaching your child about personal finance?
Replies: 34
Views: 2888

Re: When/how did you start teaching your child about personal finance?

My child is two. The way I teach about personal finance is by saying "no." Hopefully, one day, when he gets to use his own money, is to say "no" to himself. As he gets older I will share information about how we make decisions about what to buy. That it takes time to make money before we can spend i...
by david
Tue May 01, 2018 5:15 pm
Forum: Personal Finance (Not Investing)
Topic: When/how did you start teaching your child about personal finance?
Replies: 34
Views: 2888

Re: When/how did you start teaching your child about personal finance?

That's probably because checks are just an outdated tech. I've never balanced a checkbook myself in the past 15 years since everything is available online. Very true. I will certainly write the occasional check, but I honestly don't know what "balance a check book" even means, or how one might go a...
by david
Tue May 01, 2018 4:22 pm
Forum: Personal Finance (Not Investing)
Topic: Help me get on top of some debt before college expenses arrive...
Replies: 50
Views: 3254

Re: Help me get on top of some debt before college expenses arrive...

I would: Max out retirement accounts. Your income is just too high to not max them. Pay off the high interest HELOC with the floating rate that is, I think causing the anxiety with your taxable investment account. Start with anything showing a loss, and then the small gains, etc. to minimize taxes. ...
by david
Mon Apr 23, 2018 4:48 am
Forum: Investing - Help with Personal Investments
Topic: In-laws financial advisor rip off
Replies: 35
Views: 4560

Re: In-laws financial advisor rip off

Without going into too many unnecessary details, my in-laws are horrible with money. They lost almost all of their savings in a scam years ago. More recently they inherited some money. The estate attorney recommended his friend, a ML FA, to handle the inheritances (roughly 500k). The good news is t...
by david
Mon Apr 16, 2018 1:28 pm
Forum: Investing - Help with Personal Investments
Topic: What to do about withdrawal this year if market doesn't go up?
Replies: 32
Views: 3554

Re: What to do about withdrawal this year if market doesn't go up?

Isn't the theory that it doesn't matter what the market does, you just simply take out your 4% per year (or whatever you've decided as your SWR), and that 4% will be a bigger or smaller amount based on what the market did? Typically, when people talk about a safe withdrawal rate strategy, they are ...
by david
Tue Apr 10, 2018 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: UTMA Check
Replies: 13
Views: 799

Re: UTMA Check

dm200 wrote:
Tue Apr 10, 2018 2:31 pm
david wrote:
Tue Apr 10, 2018 1:56 pm
Would she be allowed to just endorse a UTMA check to her personal account?
Yes - that is why I made the above suggestion.
Great, we'll do that I guess in a few months when we see her. I wish these minor accounts were easier to retire over once the minor reaches majority.
by david
Tue Apr 10, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: UTMA Check
Replies: 13
Views: 799

Re: UTMA Check

From my experience, most banks don't care who endorses and deposits the check. Depending on the state, UTMAs belong to the "child" at 21 and you didn't say how old your wife was. If it's been a while, it might be a nice gesture to let the her mother keep a bit if she has been the one paying taxes o...
by david
Tue Apr 10, 2018 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: UTMA Check
Replies: 13
Views: 799

Re: UTMA Check

Would she be allowed to just endorse a UTMA check to her personal account?
by david
Tue Apr 10, 2018 1:28 pm
Forum: Personal Finance (Not Investing)
Topic: UTMA Check
Replies: 13
Views: 799

UTMA Check

My wife was gifted shares of Bob Evans stock years ago from her mom. The stock was held in a UTMA account for years. My wife hasn't touched it, dividends automatically reinvested. Bob Evans recently sold to Post, and my wife's shares were sold. We just received two checks in the mail but they are ma...
by david
Mon Apr 09, 2018 7:22 pm
Forum: Investing - Theory, News & General
Topic: Why not annuitize most of portfolio?
Replies: 104
Views: 9598

Re: Why not annuitize most of portfolio?

There is a decent segment who would recommend annuitizing your assets to get a basic income for absolute necessities and then using the rest for wants, capital expenditures (i.e., a car, roof replacement, etc.) and emergencies. You can look up your state's guarantee laws here: http://www.nolhga.com/...
by david
Mon Mar 26, 2018 1:23 pm
Forum: Personal Consumer Issues
Topic: Going to Israel need help planning
Replies: 12
Views: 1483

Re: Going to Israel need help planning

The first thing you should do is figure out what you want out of your trip to Israel. Because it is "the holy land," there are a million different contexts with which to view the trip. You can go for a food/wine tour of Israel; you can go for an outdoorsy tour and go hiking, kayaking, scuba diving, ...
by david
Fri Mar 23, 2018 1:37 am
Forum: Personal Finance (Not Investing)
Topic: Help my wife when I die.
Replies: 37
Views: 4723

Re: Help my wife when I die.

... Likely when you go it'll be many years after Taylor (he's like 65 years your senior) so I doubt he'll be around for being apart of the consensus. What you should do now is keep everything as simple as possible. So in case something does happen to you (disability or death), she can easily unders...
by david
Thu Mar 22, 2018 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: Help my wife when I die.
Replies: 37
Views: 4723

Re: Help my wife when I die.

Good morning Bogleheads! Sorry for the morbid title, everything is fine as far as I know. I am a long-time reader of the forum, but have only just now made an account. I really wanted to thank everyone here for the amazing discussions and advice on a variety of subjects. I have been trying to becom...
by david
Thu Mar 22, 2018 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Can a friend sign a large check for me?
Replies: 23
Views: 2240

Re: Can a friend sign a large check for me?

Can it be done? Not as you suggested legally.
You can give someone a power of attorney and then they can sign your name, then theirs as your agent/attorney in fact.
by david
Thu Mar 22, 2018 2:19 pm
Forum: Personal Finance (Not Investing)
Topic: Beneficiary Advice
Replies: 25
Views: 1477

Re: Beneficiary Advice

If you don't see these as "permanent" decisions, just keep it simple because the likelihood is that you'll change it again before you die. So, I'd probably pick a single charity or a different charity for each account and call it a day. This is also an issue for the rest of your stuff. Do you have a...
by david
Thu Mar 22, 2018 1:55 pm
Forum: Personal Consumer Issues
Topic: Rolling Lease For Apartment (Condo)
Replies: 14
Views: 1063

Re: Rolling Lease For Apartment (Condo)

It's different because there are no specific 6 month lease intervals. The 6 month clock can be invoked by either side at any time. This is how I read it. The OP is basically asking for a month-to-month tenancy, with a 6 month notice period (for lease termination, rent increases, etc.). It's not con...
by david
Thu Mar 22, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Hire CPA or do my own Tax
Replies: 7
Views: 575

Re: Hire CPA or do my own Tax

Hi I used to file my tax using TurboTax. However, this year is a bit different for me. I worked in AZ till Sept 2017 and moved to MD to start a new job. Also, I started contributing to 401k and Roth IRA in Oct 2017. My first job didn't offer 401k or retirement benefit, just health insurance. I'm si...
by david
Thu Mar 22, 2018 11:38 am
Forum: Personal Consumer Issues
Topic: Rolling Lease For Apartment (Condo)
Replies: 14
Views: 1063

Re: Rolling Lease For Apartment (Condo)

It's different because there are no specific 6 month lease intervals. The 6 month clock can be invoked by either side at any time. This is how I read it. The OP is basically asking for a month-to-month tenancy, with a 6 month notice period (for lease termination, rent increases, etc.). It's not con...
by david
Wed Mar 21, 2018 5:53 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes on IRA/401(K) withdrawal
Replies: 8
Views: 750

Re: Taxes on IRA/401(K) withdrawal

Gill wrote:
Wed Mar 21, 2018 3:36 pm
david wrote:
Wed Mar 21, 2018 3:30 pm
It is earned income for federal tax purposes (i.e., no capital gains treatment)
To clarify, it is not earned income. It is taxed as ordinary income.
Gill
This is correct. I used the wrong term. (I edited above).
by david
Wed Mar 21, 2018 5:51 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Repayment
Replies: 31
Views: 3126

Re: Student Loan Repayment

Please do not pay on student loans for 30 years. Reduce expenses, and refinance with SoFi, Commonbond, Earnest, etc. This. 7% interest is insanely high in this interest rate environment. Refinance to as low a rate you can and then pay it off as quickly as possible. Student loans can't be discharged...
by david
Wed Mar 21, 2018 3:30 pm
Forum: Investing - Help with Personal Investments
Topic: Taxes on IRA/401(K) withdrawal
Replies: 8
Views: 750

Re: Taxes on IRA/401(K) withdrawal

Other than the penalty for an early withdrawal (i.e. 10%), you pay tax like you would if it's not early. It is earned ordinary income for federal tax purposes (i.e., no capital gains treatment) and likely your state treats it likewise for state tax purposes. If your state has no income tax, then tha...
by david
Tue Mar 20, 2018 11:24 pm
Forum: Personal Finance (Not Investing)
Topic: Trust vs Will Gotchas
Replies: 24
Views: 3430

Re: Trust vs Will Gotchas

Remember to re-title anything with a physical title. Likely, its just a pour over will and a revocable living trust. You hope to not have to probate the will because EVERYTHING is in the trust. Thus, you have to re-title the house over to be trust property, bank accounts, taxable accounts. This is i...
by david
Mon Mar 19, 2018 3:01 am
Forum: Investing - Theory, News & General
Topic: Federal court tosses out fiduciary rule
Replies: 60
Views: 7230

Re: Federal court tosses out fiduciary rule

If they don't have to act in their client's best interest, then they should not be allowed call themselves financial advisors. They should be required to call themselves financial sales specialists, and they should be required to disclose which of their recommended products result in their receivin...
by david
Fri Mar 16, 2018 5:29 pm
Forum: Investing - Theory, News & General
Topic: Federal court tosses out fiduciary rule
Replies: 60
Views: 7230

Re: Federal court tosses out fiduciary rule

If they don't have to act in their client's best interest, then they should not be allowed call themselves financial advisors. They should be required to call themselves financial sales specialists, and they should be required to disclose which of their recommended products result in their receivin...
by david
Wed Mar 07, 2018 5:23 pm
Forum: Investing - Theory, News & General
Topic: Grandparent inheritence planning
Replies: 6
Views: 1047

Re: Grandparent inheritence planning

I'm sure you can have a bunch of accounts. However, why not just have a single account with all of it, to be split evenly at death by the grandkids by representation (or the grandkids per stirpes, etc). Then, these funds can be designated in a will to be split between the grandkids. That may be simp...
by david
Mon Mar 05, 2018 3:08 pm
Forum: Personal Consumer Issues
Topic: Painter did a sloppy job -- seeking advice on next steps
Replies: 28
Views: 3151

Re: Painter did a sloppy job -- seeking advice on next steps

He said he will come on the weekend to repaint and touch up the rough edges. I think the first next step is let him attempt to cure the issues. When he is there, you can point out all of the problems. See what he says then. Ask him what can be done to fix those other issues, whether he would be hap...