Search found 2200 matches

by miamivice
Tue May 19, 2020 8:16 pm
Forum: Personal Consumer Issues
Topic: Care for outdoor patio set?
Replies: 10
Views: 607

Care for outdoor patio set?

We just bought an outdoor patio set from Costco. It is a nice one with a stone/tile table and wicker chairs. I am wondering how to care for it. Should I cover it when not in use with the enclosed cover? Should I keep the chairs in the garage so they don't sunfade? Covering before winter (I'm in Flor...
by miamivice
Wed Apr 29, 2020 10:58 am
Forum: Personal Consumer Issues
Topic: SHould I have my kid pursue coursera / edx courses?
Replies: 19
Views: 1227

SHould I have my kid pursue coursera / edx courses?

Friend of mine has his kid doing part time independent studies at his high school. Apparently, the student is taking courses of interest to him and his dad says that he'll receive college credit while in high school for the courser / edx courses. Since we didn't have any of this when I was in school...
by miamivice
Fri Apr 24, 2020 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Please rate my stimulus check plan!
Replies: 19
Views: 1224

Please rate my stimulus check plan!

I expect to have an AGI of around $180,000 this year, give or take. Last year we had an AGI of $210,000 and received a $867 stimulus check. I would like to get the highest amount possible when we file 2020 taxes, so this is my strategy: 1) Jack up 401k contributions for both spouse and me to maximum...
by miamivice
Fri Apr 10, 2020 9:51 pm
Forum: Personal Finance (Not Investing)
Topic: 32 year old couple w/newborn checkup
Replies: 23
Views: 1681

Re: 32 year old couple w/newborn checkup

Expenses: His/Hers spending: ….. Will likely be reducing in the coming months to help pay for child care Just as a minor point, your spending will be going up, dramatically, with a newborn rather than down. Whether you call it his/her/newborns spending our just "our spending" is a bit of a moot poi...
by miamivice
Sat Apr 04, 2020 6:53 pm
Forum: Personal Investments
Topic: Do you want to own the whole haystack [VTI] when someone has a blowtorch?
Replies: 125
Views: 9414

Re: Do you want to own the whole haystack when someone has a blowtorch?

I feel I have as a physician very specific epidemic knowledge ahead of the market. This sounds like insider trading. If as a physician you have access to non-public information, like the success or lack thereof of clinical trials used to treat disease, and are trading based on that non-public infor...
by miamivice
Sat Apr 04, 2020 6:09 pm
Forum: Personal Investments
Topic: Do you want to own the whole haystack [VTI] when someone has a blowtorch?
Replies: 125
Views: 9414

Re: Do you want to own the whole haystack when someone has a blowtorch?

I feel I have as a physician very specific epidemic knowledge ahead of the market. This sounds like insider trading. If as a physician you have access to non-public information, like the success or lack thereof of clinical trials used to treat disease, and are trading based on that non-public infor...
by miamivice
Sat Apr 04, 2020 6:04 pm
Forum: Personal Consumer Issues
Topic: Should I keep paying fitness center fees while it is closed?
Replies: 114
Views: 6261

Re: Should I keep paying fitness center fees while it is closed?

Thanks all. I got an e-mail from the gym owner, sent to all members, saying that they are going to credit April's payment toward the May dues, so we are square now. I am sure that it was in response to pressure that myself and others put on the owner. While the idea of charity is noble, a fitness ce...
by miamivice
Sat Apr 04, 2020 9:11 am
Forum: Personal Consumer Issues
Topic: Should I keep paying fitness center fees while it is closed?
Replies: 114
Views: 6261

Re: Should I keep paying fitness center fees while it is closed?

For those who are suggesting that OP should keep paying, keep in mind that OP has another thread asking for unemployment information due to job situation. I don't see that one, but I do see some threads OP started about updating their "rec room" with a 115" projector or buying a "ski in, ski out co...
by miamivice
Fri Apr 03, 2020 12:42 pm
Forum: Personal Investments
Topic: Do you want to own the whole haystack [VTI] when someone has a blowtorch?
Replies: 125
Views: 9414

Re: Do you want to own the whole haystack when someone has a blowtorch?

I feel I have as a physician very specific epidemic knowledge ahead of the market. This sounds like insider trading. If as a physician you have access to non-public information, like the success or lack thereof of clinical trials used to treat disease, and are trading based on that non-public infor...
by miamivice
Thu Apr 02, 2020 10:36 pm
Forum: Personal Consumer Issues
Topic: Should I keep paying fitness center fees while it is closed?
Replies: 114
Views: 6261

Re: Should I keep paying fitness center fees while it is closed?

Your gym owner, if they are a small business with less than 500 employees, is eligible for a Payroll Protection Program loan that will pay all employee wages, the mortgage interest, rent and utilities for the next 8 weeks. The loan is 100% forgiven if used for these qualifying expenses. It costs th...
by miamivice
Thu Apr 02, 2020 10:23 pm
Forum: Personal Consumer Issues
Topic: Should I keep paying fitness center fees while it is closed?
Replies: 114
Views: 6261

Re: Should I keep paying fitness center fees while it is closed?

Your gym owner, if they are a small business with less than 500 employees, is eligible for a Payroll Protection Program loan that will pay all employee wages, the mortgage interest, rent and utilities for the next 8 weeks. The loan is 100% forgiven if used for these qualifying expenses. It costs th...
by miamivice
Thu Apr 02, 2020 10:04 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating unemployment benefits
Replies: 13
Views: 1175

Re: Estimating unemployment benefits

Update 1: It looks like in my state that unemployment is capped at around $800/week.

That hurts. I currently make about $2800/month in income, so that is around a 75% reduction in income.
by miamivice
Thu Apr 02, 2020 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Estimating unemployment benefits
Replies: 13
Views: 1175

Estimating unemployment benefits

For the first time in my entire life, I am faced the possibility that I may need to file for unemployment due to my employer temporarily stopping work during the virus. I am unsure of how long we may be unemployed but this is a scary proposition. I am wondering how I can estimate my unemployment ben...
by miamivice
Thu Apr 02, 2020 7:14 pm
Forum: Personal Consumer Issues
Topic: Should I keep paying fitness center fees while it is closed?
Replies: 114
Views: 6261

Re: Should I keep paying fitness center fees while it is closed?

The fitness center that I belong to is closed like many businesses right now. Nobody knows for how long. I just got charged on my credit card April's membership dues, because the gym owner thinks that we should keep paying him/her even though it is closed, because well, they have staff to pay and t...
by miamivice
Thu Apr 02, 2020 6:57 pm
Forum: Personal Consumer Issues
Topic: Should I keep paying fitness center fees while it is closed?
Replies: 114
Views: 6261

Should I keep paying fitness center fees while it is closed?

The fitness center that I belong to is closed like many businesses right now. Nobody knows for how long. I just got charged on my credit card April's membership dues, because the gym owner thinks that we should keep paying him/her even though it is closed, because well, they have staff to pay and th...
by miamivice
Tue Mar 31, 2020 11:42 am
Forum: Personal Finance (Not Investing)
Topic: With a volatile stock market account, how do I track retirement progress?
Replies: 13
Views: 704

With a volatile stock market account, how do I track retirement progress?

With the recent stock market volatility, we have lost about $500,000 of our total net worth in the last month. That is assuming our real estate investments haven't gone down, which they might have as well. Now when looking at how we are doing at retirement, do we use today's numbers? Or the numbers ...
by miamivice
Tue Mar 31, 2020 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Do pre-tax 401k contributions reduce AGI?
Replies: 5
Views: 428

Do pre-tax 401k contributions reduce AGI?

Amateur question, but important. Can I reduce my AGI by increasing pre-tax 401k contributions? The stimulus checks apparently will ultimately be figured on 2020 income. If I can reduce my 2020 AGI to below $150,000, we will get the maximum stimulus benefit when we file 2020 taxes. My 2019 income was...
by miamivice
Tue Mar 31, 2020 10:54 am
Forum: Personal Finance (Not Investing)
Topic: Paying estimated self-employed income
Replies: 17
Views: 738

Re: Paying estimated self-employed income

It's way easier just to increase your W2 withholdings than it is to pay estimated tax payments.

If your self employment income is just above $1,000 (like $1,500) you probably won't have to worry about anything. if it is way higher (like $30,000) then yes increase your W2 withholdings.
by miamivice
Fri Mar 13, 2020 9:12 pm
Forum: Personal Consumer Issues
Topic: Should I purchase a projector or big screen TV?
Replies: 13
Views: 685

Re: Should I purchase a projector or big screen TV?

Yes if you want to watch during the daytime in a room with sunlight I think the choice is easy. But you are talking about two very different sizes. Which is better for the room? I am very much opposed to watching movies in daylight. Seems like a waste of time. I think movies should be watched dusk ...
by miamivice
Fri Mar 13, 2020 8:24 pm
Forum: Personal Consumer Issues
Topic: Should I purchase a projector or big screen TV?
Replies: 13
Views: 685

Should I purchase a projector or big screen TV?

I am finally ready to bite the bullet and make our rec room something grand. One feature I want to put in is movie watching capability. I don't want to use the term home theater because that indicates single purpose room, but you can think of a room that is a cross between a home theater and a gener...
by miamivice
Sat Feb 29, 2020 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: 1099-MISC tax question regarding self-employment tax
Replies: 3
Views: 317

1099-MISC tax question regarding self-employment tax

I received a 1099-MISC from a government agency that was a cost-share reimbursement from work that I had done. I spent $1300 on the land improvement and the entity reimbursed me $1,000 to help offset the cost. I received a 1099-MISC, which I expected, and have to pay ordinary income tax on the incom...
by miamivice
Wed Feb 26, 2020 4:30 pm
Forum: Personal Consumer Issues
Topic: delete please, problem solved
Replies: 26
Views: 1852

Re: car accident settlement without insurance company

One comment - your deductible doesn't apply on paying for damages that you do to someone else's vehicle. Your insurance will pay 100% of the cost of the claim for their vehicle.
by miamivice
Thu Feb 20, 2020 2:09 pm
Forum: Personal Finance (Not Investing)
Topic: Should I find a different job with a better commute?
Replies: 50
Views: 3472

Re: Should I find a different job with a better commute?

I didn't disappear but am busy. I have a few things in work with management to start working closer to home. It's too long and has gone on for too long and I am less happy about my job because of the commute. Something needs to change. Some asked why I don't move closer to where I work. The problem ...
by miamivice
Thu Feb 20, 2020 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: As of 2/20, has Vanguard released all 2019 tax documents?
Replies: 7
Views: 878

As of 2/20, has Vanguard released all 2019 tax documents?

Last year I filed taxes in mid-February and then was dismayed when Vanguard released more tax documents after then, causing me to have to amend and refile. I don't want to make that mistake again this year. As of today, has Vanguard released all of the 2019 tax documents? Is there a place online I c...
by miamivice
Wed Feb 12, 2020 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: Should I find a different job with a better commute?
Replies: 50
Views: 3472

Should I find a different job with a better commute?

Quick version: Last year, I earned $160,000 with a mechanical enginerering degree and 10 years experience. This is likely considered well compensated for my educational background and career choice. In addition to the compensation, I am accuring a pension, healthy retirement benefits, and healthy ed...
by miamivice
Mon Jan 27, 2020 8:24 pm
Forum: Personal Investments
Topic: Is BP considered a foreign investment?
Replies: 14
Views: 832

Is BP considered a foreign investment?

I own stocks in BP, traded on the US stock exchange. I am filling out a form which requires me to disclose foreign investments. Is my owning shares of BP considered a foreign investment?
by miamivice
Mon Dec 30, 2019 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: Financially Optimal Career Path: Investment Banker vs Management Consultant vs Software Engineer vs Doctor vs Lawyer
Replies: 45
Views: 4184

Re: Financially Optimal Career Path: Investment Banker vs Management Consultant vs Software Engineer vs Doctor vs Lawyer

I'm confused. If I can go just submit my resume and get a $450,000 a year job working at another company, why am I working where I do for a mere $166,000? I am also confused as to why the average salary of a software engineer is $89,000, since according to the spreadsheet they make far more than tha...
by miamivice
Sat Nov 30, 2019 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: How much are you saving for retirement in 2019?
Replies: 82
Views: 5852

How much are you saving for retirement in 2019?

How much are you saving for retirement in 2019? Include your contributions, employer contributions, and HSA accounts, if you are expecting to use your HSA accounts in retirement. Please do not say "max" without a dollar amount, because "max" means different things for different situations. 2019 has ...
by miamivice
Tue Nov 26, 2019 11:23 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford to let off the gas?
Replies: 22
Views: 3024

Can I afford to let off the gas?

I have a unique job where how many hours I work is somewhat set by me. I have to work 40 but generally am allowed to work up to 60 and get paid extra. I am considering whether I can justifiably start declining the additional hours and only work 40. $2,000,000 - total net worth $850,000 - retirement ...
by miamivice
Tue Oct 15, 2019 11:35 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for college savings
Replies: 20
Views: 1994

Re: Suggestions for college savings

Hello again, I have a 4yo child. I have started for my child since year 1 in a 529 account. My plan is to fully fund my child 's education. In another post I made regarding home affordability, some have suggested me to keep 529 savings low as it will affect my child's fafsa. I am completely unaware...
by miamivice
Tue Oct 15, 2019 7:56 am
Forum: Personal Consumer Issues
Topic: Invited to join HOA board. Pros/cons?
Replies: 58
Views: 5180

Invited to join HOA board. Pros/cons?

Just recently, I was invited to join the HOA board. I had put together a presentation of some concerns around our neighborhood, it impressed the board, and they decided that maybe I should join. They apparently had someone recently step down and need to backfill the position. For those folks who hav...
by miamivice
Mon Oct 14, 2019 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Donating Home
Replies: 7
Views: 1194

Re: Donating Home

As others said, if you are donating $25k to an entity who then demolishes your house, that's not a charitable deduction. That's payment for services rendered.

I would also concur that there is no way that fair market value of bits and pieces of your home is worth $125k.
by miamivice
Sun Oct 13, 2019 7:42 pm
Forum: Personal Investments
Topic: What’s the point of a taxable account?
Replies: 62
Views: 7484

Re: What’s the point of a taxable account?

In addition to the “nowhere else to put it” reason, it’s also useful to have some money that is not locked up until retirement. Afty, They are not retirement accounts. They are tax-advantaged accounts. The money is not locked up until retirement. Please do not spread wrong information. https://www....
by miamivice
Sun Oct 13, 2019 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should I invest in a ski in / ski out condo?
Replies: 50
Views: 5790

Re: Should I invest in a ski in / ski out condo?

Every year around this time, I start thinking about ski season. One thing that I always have been interested in is buying a ski in / ski out condo. Wanted to see any comments about whether this would be a good idea. Here's the situation: The ski in / ski out lodge is in an affordable, yet growing a...
by miamivice
Sun Oct 13, 2019 6:48 pm
Forum: Personal Investments
Topic: What’s the point of a taxable account?
Replies: 62
Views: 7484

Re: What’s the point of a taxable account?

In addition to the “nowhere else to put it” reason, it’s also useful to have some money that is not locked up until retirement. Afty, They are not retirement accounts. They are tax-advantaged accounts. The money is not locked up until retirement. Please do not spread wrong information. https://www....
by miamivice
Sun Oct 13, 2019 6:42 pm
Forum: Personal Investments
Topic: What’s the point of a taxable account?
Replies: 62
Views: 7484

Re: What’s the point of a taxable account?

The point of a taxable account is to set aside money for a future purchase that is large in size. One example is a vehicle. Rather than taking out a car loan, and paying interest, one can dip into their taxable account and pay for the car cash. Other examples include other big expenses. Vacations, R...
by miamivice
Sat Oct 12, 2019 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Should I invest in a ski in / ski out condo?
Replies: 50
Views: 5790

Should I invest in a ski in / ski out condo?

Every year around this time, I start thinking about ski season. One thing that I always have been interested in is buying a ski in / ski out condo. Wanted to see any comments about whether this would be a good idea. Here's the situation: The ski in / ski out lodge is in an affordable, yet growing an...
by miamivice
Sat Oct 12, 2019 11:05 am
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

I recommend funding a Roth IRA before a 529 plan because, quite frankly, for most people that's the best decision for them. OK that makes sense. Agree that Roth IRA contributions can be used for college. For our family, we want to keep Roth IRA money for retirement so we can pull tax free Roth IRA ...
by miamivice
Sat Oct 12, 2019 11:01 am
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

But don't you have to belt tighten in the years before college, in order to save extra into 529s? Then the existence of the 529 balances drive up your Expected Family Contribution. Unless you are at a much higher rate of income than my hypothetical $100k income family, so that the EFC exceeds cost ...
by miamivice
Sat Oct 12, 2019 9:58 am
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

An important thing to keep in mind is that money is fungible and just because an account has the word “retirement” in it, that doesn’t mean it can’t be used for other purposes. In fact, congress wrote a fair amount of flexibility into the relevant tax law to accommodate just that. (Shout out to Kla...
by miamivice
Sat Oct 12, 2019 9:26 am
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

If you only expect to have one kid in college at a time, and you can fully fund a 401k and two Roth IRAs annually, you are pretty close to being able to fund your kids college education by just redirecting new retirement savings. Yes, one (might) be able to cash flow college if income is sufficient...
by miamivice
Fri Oct 11, 2019 9:06 pm
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

We have a lot of people trying to outsmart the tax code. I will state again my view: a) 401k money - cannot be used for college without sacrificing tax advantages of 401k. b) Roth IRA money - contributions can be withdrawn but no tax advantages for college savings. Contributions are limited to 12k p...
by miamivice
Fri Oct 11, 2019 4:01 pm
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

It strikes me that nobody has yet claimed that they have actually pulled money out of their retirement accounts to pay for college, though I trust your intent to do so with your Roth if you needed to. I am of the same mind that we are committed to fully funding college. I'm pretty sure nobody on Bo...
by miamivice
Fri Oct 11, 2019 3:11 pm
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

KlangFool, just to remind you, you frequently encourage people to take money out of retirement tax-advantaged accounts to pay for college. After all, "Money is fungible" is one of your favorite expressions. miamivice, I corrected your post. KlangFool My question stands. You have argued in favor of ...
by miamivice
Fri Oct 11, 2019 2:50 pm
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

We haven't had to make any withdrawals, any payments we've made have been cash flowed. Scholarships, grants, the kids' earnings and the kids' loans have mostly covered things. So far, the loans haven't been an undue burden. DD1 paid her loans off in a few years. DS2 is taking a slower route, but he...
by miamivice
Fri Oct 11, 2019 11:56 am
Forum: Investing - Theory, News & General
Topic: 529 and FIRE
Replies: 29
Views: 3707

Re: 529 and FIRE

We live in CA where there is no state tax benefit to contributing to a 529. Still, it makes sense because of the tax-free withdrawals. I think our goal would be to not overshoot by too far. But who knows how much our 2 kids' educations will be? $200k for college per kid? $200k for graduate school p...
by miamivice
Fri Oct 11, 2019 11:36 am
Forum: Personal Investments
Topic: Taxable investment account for college?
Replies: 114
Views: 7165

Re: Taxable investment account for college?

I think teen's post about her specific situation really shines a light on why 529s don't make sense for her situation. I would concur that for a family of 7 that is on free/reduced meals, a 529 is way, way down the priority list and it's safe to say that a 529 shouldn't be a big consideration. Also ...
by miamivice
Thu Oct 10, 2019 3:30 pm
Forum: Personal Investments
Topic: Capital Gains on Sale of Land
Replies: 9
Views: 881

Re: Capital Gains on Sale of Land

I buy lots, subdivide them, and sell accordingly. This is a normal expense that adds to my cost basis on nearly every project. Other improvements are utilities (i.e. power, water, etc.), access such as a rock or milling driveway, or anything else that can be proven to add value to the parcel. Someo...
by miamivice
Thu Oct 10, 2019 2:15 pm
Forum: Personal Investments
Topic: Capital Gains on Sale of Land
Replies: 9
Views: 881

Re: Capital Gains on Sale of Land

We are in the process of placing our land on the market with a real estate agent. My understanding is the real estate fees can be subtracted from the cost basis of the land to reduce the capital gains we owe. We paid a forestry mulching company to clear the land due to the dense underbrush and tree...
by miamivice
Thu Oct 10, 2019 10:06 am
Forum: Personal Consumer Issues
Topic: Neighbor filming a TV Show
Replies: 71
Views: 4153

Re: Neighbor filming a TV Show

In reality, the moment that the activity becomes problematic for you, go check into a hotel and spend a couple days there. Then send a bill to the homeowner who invited the TV crew. If they don't pay the bill, file a lawsuit in small claims court. That would be a waste of time and money. Unless the...