Search found 621 matches

by Meaty
Sun Feb 17, 2019 9:14 am
Forum: Personal Finance (Not Investing)
Topic: What net worth supersedes Bogleheads’s strategy
Replies: 66
Views: 4217

Re: What net worth supersedes Bogleheads’s strategy

Jack FFR1846 wrote:
Sat Feb 16, 2019 8:50 pm
Getting to really big money, you have to get it the old fashioned way. You inherit it.
False. The vast majority of millionaires are 1st generation. Ask bill gates, Jeff bezos, zuckerberg, mark cuban, etc
by Meaty
Wed Feb 13, 2019 6:27 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a 2019 RAV4 hybrid - how to pay for it?
Replies: 76
Views: 3593

Re: Buying a 2019 RAV4 hybrid - how to pay for it?

None of the above. Until you can pay cash, you can’t afford it
by Meaty
Wed Feb 13, 2019 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff mortgage vs investing: Looking at the math
Replies: 35
Views: 3343

Re: Payoff mortgage vs investing: Looking at the math

I just paid off my mortgage (225k). I could have kept the money invested but it gives me incredible peace of mind to have no liabilities. Plus, with equities expected to return 5% per year for the next decade, I don’t think I left much on the table - especially not after adjusting for the significan...
by Meaty
Fri Jan 25, 2019 9:46 pm
Forum: Personal Investments
Topic: Inherited IRA question
Replies: 22
Views: 1484

Re: Inherited IRA question

Reporting back - LPL/the advisor is going to separate the accounts now even though all beneficiaries have not signed paperwork. Thanks for everyone’s help
by Meaty
Thu Jan 24, 2019 2:53 pm
Forum: Personal Investments
Topic: Inherited IRA question
Replies: 22
Views: 1484

Re: Inherited IRA question

LPL is the custodian and an independent FA is the advisor. It’s a good idea to call LPL and see if we can get movement directly from them You have another problem - namely LPL and the advisor who are all set up as "independent contractors" under the LPL business model (see 2nd link). Also Google LP...
by Meaty
Thu Jan 24, 2019 10:08 am
Forum: Personal Investments
Topic: Inherited IRA question
Replies: 22
Views: 1484

Re: Inherited IRA question

I had no issues getting TD Ameritrade to split an IRA into 20% chunks as per the beneficiary designation as paperwork was submitted for each of 5 inheritors. I’m curious what “brokerage” you are dealing with. I’ve found estate departments at large brokerages to be very helpful. It’s possible that t...
by Meaty
Wed Jan 23, 2019 9:48 pm
Forum: Personal Investments
Topic: Inherited IRA question
Replies: 22
Views: 1484

Re: Inherited IRA question

I disagree. There is no such IRS requirement and most IRA custodians will create inherited IRA accounts upon submission of the required documentation for each beneficiary. If the inherited share is 1/3, they simply transfer 1/3 of the holdings on the date of the transfer into your inherited IRA acc...
by Meaty
Wed Jan 23, 2019 5:35 pm
Forum: Personal Investments
Topic: Inherited IRA question
Replies: 22
Views: 1484

Re: Inherited IRA question

Thanks to the above replies. Unfortunately the 2 others are so inebriated most of the time they’ll likely struggle to make it in to an advisors office anytime soon
by Meaty
Wed Jan 23, 2019 4:17 pm
Forum: Personal Investments
Topic: Inherited IRA question
Replies: 22
Views: 1484

Inherited IRA question

My father in law passed away recently and had his IRA set up to transfer on death equally to 3 beneficiaries. I’ve signed the necessary paperwork to set up an inherited IRA in my name and have started receiving mail with my new account number, etc That said, the current financial advisor is saying n...
by Meaty
Wed Jan 16, 2019 9:54 am
Forum: Personal Investments
Topic: Debt free - now what?
Replies: 9
Views: 1053

Re: Debt free - now what?

Congrats bloom :beer It's amazing you are debt free at 35 !! If you don't mind me asking what's your profession ? Is it common for people in your profession to earn so much ? Cheers ! Newbie Thanks to all who replied. To answer the question above, it’s somewhat uncommon but not totally unheard of. ...
by Meaty
Tue Jan 15, 2019 9:48 am
Forum: Personal Investments
Topic: Debt free - now what?
Replies: 9
Views: 1053

Debt free - now what?

Thanks in advance for reviewing my post. I’m 35, debt free including my house (just paid it off) and have college funded for my son. I max out my tax deferred space and have another 100,000/year I need to invest but I’m unsure what the right approach is. I’m concerned simply continuing to invest it ...
by Meaty
Fri Oct 19, 2018 4:28 pm
Forum: Personal Consumer Issues
Topic: What time do you get up in the morning?
Replies: 160
Views: 13151

Re: What time do you get up in the morning?

I was once told that if a parent wants to accomplish things, they must create time rather than find it. Heading this advice I have been waking up around 4am to get in a quick jog, weight lifting (none of the which is anything to brag about, but it is better than nothing), Bible and prayer time, and...
by Meaty
Sun Sep 23, 2018 4:51 pm
Forum: Personal Consumer Issues
Topic: How to Get Rid of My Unauthorized “Two Year Contract” With Verizon
Replies: 21
Views: 2625

Re: How to Get Rid of My Unauthorized “Two Year Contract” With Verizon

Ask them to produce the contract (with your signature or recording where you gave verbal authorization). If they can’t/won’t then take it to small claims court I had a similar problem with Verizon. I eventually talked to someone senior enough that recognized trying to enforce a contract without a si...
by Meaty
Sun Sep 23, 2018 4:40 pm
Forum: Personal Investments
Topic: Paying off mortgage vs investing?
Replies: 20
Views: 2162

Re: Paying off mortgage vs investing?

This is what I’m doing as well. Of course, the market could tank causing my sinking fund to yield less than the fixed rate of the mortgage but that’s a risk I’m willing to take to preserve liquidity If you're comparing the sinking fund to a 10-20 year timeframe that you would have just been pre-pay...
by Meaty
Thu Sep 20, 2018 1:41 pm
Forum: Personal Investments
Topic: Paying off mortgage vs investing?
Replies: 20
Views: 2162

Re: Paying off mortgage vs investing?

Pre-paying a mortgage pros: - Savings on interest payments. Reduces total cost of ownership for the house. - Frees up cash flow after the house is PAID OFF. - Feels really good psychologically. It is much more difficult to go bankrupt if you don't owe anybody any money. - A mortgage is like a bond ...
by Meaty
Wed Sep 05, 2018 2:49 pm
Forum: Personal Investments
Topic: Backdoor roth question
Replies: 10
Views: 873

Re: Backdoor roth question

Thanks. I’ll try to middle through it with turbo tax next spring. So to be clear, we wouldn’t need to cash out, just account for the funds when doing our taxes (increasing the amount of tax liability slightly) right? More than anything, I don’t want a few hundred dollars to impair backdoor roth con...
by Meaty
Wed Sep 05, 2018 12:14 pm
Forum: Personal Investments
Topic: Backdoor roth question
Replies: 10
Views: 873

Re: Backdoor roth question

I think the 2 year restriction continues even though the SIMPLE is not active any more. Maybe Spirit Rider can confirm. If you don't want to pay the penalty, you could pro-rate it for 2018 and 2019 and then (when the two years is over) roll it into Roth paying only the tax. This would be fairly sim...
by Meaty
Wed Sep 05, 2018 5:22 am
Forum: Personal Investments
Topic: Backdoor roth question
Replies: 10
Views: 873

Re: Backdoor roth question

retiredjg wrote:
Tue Sep 04, 2018 5:14 pm
It would be helpful to know if she is still in the job that has the SIMPLE IRA and if the employer will be making any contributions in the future.
No. The company was sold
by Meaty
Tue Sep 04, 2018 5:06 pm
Forum: Personal Investments
Topic: Backdoor roth question
Replies: 10
Views: 873

Re: Backdoor roth question

You can not rollover the SIMPLE IRA to a Roth IRA. SIMPLE IRA assets withdrawn < two (2) years from the date of first contribution are subject to a 25% early withdrawal penalty, subject to ordinary income taxes and are not eligible for rollover. Did you just make the non-deductible contribution to ...
by Meaty
Tue Sep 04, 2018 3:24 pm
Forum: Personal Investments
Topic: Backdoor roth question
Replies: 10
Views: 873

Backdoor roth question

My wife has a small (few hundred dollar) traditional simple IRA from an employer that was opened this year. We also did a backdoor roth contribution for her this year.

How do I reconcile this? Can we just cash out the simple, pay taxes on it, and be done?
by Meaty
Mon Sep 03, 2018 12:50 pm
Forum: Personal Investments
Topic: Donor advised fund
Replies: 21
Views: 731

Donor advised fund

Hi I’m looking for ways to better support the charities I care about and came across DAFs as a way to do that. Here’s my very basic understanding - contributions to the fund are immediately deductible, irrevocable, and can be dispersed to charities over time - contributions grow tax free - donations...
by Meaty
Thu Aug 23, 2018 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10982

Re: Take auto loan 0.9% if I can afford cash?

Earl Lemongrab wrote:
Thu Aug 23, 2018 2:57 pm
Meaty wrote:
Thu Aug 23, 2018 2:47 pm
Auto pay or not, you still have to budget the payment out of your monthly income or you will over draw your account
So? You know how much it is, so it should only have to be written down once.
See my response above......
by Meaty
Thu Aug 23, 2018 2:47 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10982

Re: Take auto loan 0.9% if I can afford cash?

If I could get 0.9%, sure. That's usually not available on a refi. I took out a home loan on a paid-off house to invest, why would a car be different? I’m not saying it’s different. It was a legit question. If your risk appetite allows you to leverage an asset to invest then he should finance the c...
by Meaty
Thu Aug 23, 2018 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10982

Re: Take auto loan 0.9% if I can afford cash?

If I could get 0.9%, sure. That's usually not available on a refi. I took out a home loan on a paid-off house to invest, why would a car be different? I’m not saying it’s different. It was a legit question. If your risk appetite allows you to leverage an asset to invest then he should finance the c...
by Meaty
Wed Aug 22, 2018 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10982

Re: Take auto loan 0.9% if I can afford cash?

If you owned the car debt free today, would you borrow against it and invest? If I could get 0.9%, sure. That's usually not available on a refi. I took out a home loan on a paid-off house to invest, why would a car be different? I’m not saying it’s different. It was a legit question. If your risk a...
by Meaty
Sun Aug 19, 2018 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10982

Re: Take auto loan 0.9% if I can afford cash?

If you owned the car debt free today, would you borrow against it and invest? If I could get 0.9%, sure. That's usually not available on a refi. I took out a home loan on a paid-off house to invest, why would a car be different? I’m not saying it’s different. It was a legit question. If your risk a...
by Meaty
Sat Aug 18, 2018 6:35 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 162
Views: 10982

Re: Take auto loan 0.9% if I can afford cash?

I will be buying a car soon. I can afford to pay cash up front. The dealer says I’m eligible for 0.9% financing for 3 years. No change in price whether paying by cash or loan. Would you take a car loan that you didn’t need? My only other debt is a home mortgage with after tax interest rate of 1.7% ...
by Meaty
Thu Aug 02, 2018 11:48 am
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 7330

Re: DW job in dangerous area

It depends on how 'unsafe' the area really is and then how unsafe the school property is, since she will be commuting back and forth to a parking lot on or next to school grounds or if it's by public transport then how far away the stop is. Even the local crime statistics would be misleading since ...
by Meaty
Thu Aug 02, 2018 11:43 am
Forum: Personal Finance (Not Investing)
Topic: DW job in dangerous area
Replies: 90
Views: 7330

Re: DW job in dangerous area

My wife just graduated school. I make about 200k. We have no debt and we are both 26 y.o., so we just started saving. She has been working very hard to get a job and finally landed one! She will make about 40k pretax. i.e. her salary will not push the needle lifestyle or savings-wise. Unfortunately...
by Meaty
Wed Aug 01, 2018 8:53 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 798
Views: 82448

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

Any indication when Vanguard will follow suit? It’s a pain to transfer companies but this would be worth it I don't believe that VG uses loss-leaders or subsidizes funds as other MF companies do. The VG ER is truly what the cost to run the fund is. It's that simple. The Johnson family is rich and c...
by Meaty
Wed Aug 01, 2018 5:01 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 798
Views: 82448

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

Any indication when Vanguard will follow suit? It’s a pain to transfer companies but this would be worth it I don't believe that VG uses loss-leaders or subsidizes funds as other MF companies do. The VG ER is truly what the cost to run the fund is. It's that simple. The Johnson family is rich and c...
by Meaty
Wed Aug 01, 2018 11:54 am
Forum: Investing - Theory, News & General
Topic: Fidelity Files for Four Fidelity ZERO℠ Funds (0.00% ER)
Replies: 798
Views: 82448

Re: Fidelity Files for two Fidelity ZERO℠ Funds (0.00% ER total stock and total international mutual funds)

Any indication when Vanguard will follow suit? It’s a pain to transfer companies but this would be worth it
by Meaty
Mon Jul 30, 2018 4:39 pm
Forum: Personal Consumer Issues
Topic: Tips for staying active / injury-free into older age
Replies: 162
Views: 14936

Re: Tips for staying active / injury-free into older age

#1 - 46 yrs old, I do Crossfit, Olympic Lifting, running once a week plus some body building style exercise. I think the main thing is to keep it changing and not get stuck into a routine or lose your motivation. Change isn't physiologically necessary for continued progression, it may be psychologi...
by Meaty
Sat Jul 28, 2018 9:52 am
Forum: Personal Consumer Issues
Topic: Regret Public School?
Replies: 75
Views: 6212

Re: Regret Public School?

Assuming the school is safe, the work ethic of the student has WAY more influence on learning than the school itself
by Meaty
Fri Jul 27, 2018 4:41 pm
Forum: Personal Consumer Issues
Topic: DisneyWorld-Needing specific advice
Replies: 33
Views: 2080

Re: DisneyWorld-Needing specific advice

I know there are numerous Disney threads, but wanted to ask for specific advice on the following as we are planning a 3 day trip, 2 adults, 1-9 year old. We want a moderateley priced on site disney resort- LIMITING WALKING is important to us. More so than the added price of being off site. We want ...
by Meaty
Thu Jul 26, 2018 7:15 pm
Forum: Personal Investments
Topic: Simple IRA and backdoor roth
Replies: 3
Views: 285

Re: Simple IRA and backdoor roth

All tax deferred IRAs, including SEP and SIMPLE IRAs, get aggregated into one IRA for distribution purposes. If you have any tax-deferred amount in there then you must pay tax on it in accordance with the pro-rata rule. You'll want to either convert that to Roth or roll it into a 401k plan prior to...
by Meaty
Thu Jul 26, 2018 3:31 pm
Forum: Personal Investments
Topic: Simple IRA and backdoor roth
Replies: 3
Views: 285

Simple IRA and backdoor roth

Hi
My wife has a traditional simple IRA from a former employer. Can we do a backdoor roth for her without also converting (or paying taxes on) the money in her simple IRA?

Thanks in advance!
by Meaty
Wed Jul 25, 2018 7:46 am
Forum: Personal Consumer Issues
Topic: How much car can I buy?
Replies: 46
Views: 2443

Re: How much car can I buy?

awval999 wrote:
Wed Jul 25, 2018 6:16 am
$40,000.
+1
by Meaty
Sat Jul 21, 2018 10:21 am
Forum: Personal Consumer Issues
Topic: House foundation repair with Helical Piers - urgent request
Replies: 22
Views: 1708

Re: House foundation repair with Helical Piers - urgent request

My son has contracted to buy a house in Alabama. The house had some repairs done in June 2018. The copy of the engineer report the seller gave says this (paraphrased): The 2-story structure is constructed in 1960's on a crawlspace supported on CMU block walls. The brick veneer on the house has "ven...
by Meaty
Sat Jul 21, 2018 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Reevaluating mortgage payoff strategy
Replies: 63
Views: 6447

Re: Reevaluating mortgage payoff strategy

At 2.625%, I would not pay it off, I would invest those dollars you might use to pay it off. Getting your money in the market sooner is one of the best things you can do. At the point where you can *pay it off* then I might do that. Paying it down doesn't help your cash flow and it locks your money...
by Meaty
Wed Jul 18, 2018 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Another student loan question
Replies: 24
Views: 1288

Re: Another student loan question

I currently owe $54,135 (due to the aforementioned income-based repayment plan that didn't cover all of the accruing interest). I'm on a graduated repayment plan, paying about $400 a month, and dreading when it goes up again in two more years. My current interest rate is at 7.625 percent. Otherwise...
by Meaty
Tue Jul 17, 2018 11:18 am
Forum: Personal Investments
Topic: House purchase: pay cash or get mortgage?
Replies: 16
Views: 2617

Re: House purchase: pay cash or get mortgage?

My wife and I just had our offer accepted on a house. We need to decide ASAP whether to move forward with the lender and get a mortgage or to pay cash for the house. Normally, I'd opt for the mortgage, assuming that we're likely to earn more in the stock market than we'd pay in interest. However, V...
by Meaty
Mon Jul 16, 2018 6:03 pm
Forum: Personal Consumer Issues
Topic: Would you pay $120 for a 5 year dishwasher warranty?
Replies: 61
Views: 3304

Re: Would you pay $120 for a 5 year dishwasher warranty?

No. On average, extended warranties assume an 8% payout. The rest is profit, commissions, etc. so while you might get a lemon, it’s less likely than 1 in 10
by Meaty
Fri Jul 06, 2018 12:35 pm
Forum: Personal Consumer Issues
Topic: What time do you get up in the morning?
Replies: 160
Views: 13151

Re: What time do you get up in the morning?

I was once told that if a parent wants to accomplish things, they must create time rather than find it. Heading this advice I have been waking up around 4am to get in a quick jog, weight lifting (none of the which is anything to brag about, but it is better than nothing), Bible and prayer time, and...
by Meaty
Wed Jul 04, 2018 6:27 am
Forum: Personal Finance (Not Investing)
Topic: Health Care in "Early" Retirement
Replies: 50
Views: 5302

Re: Health Care in "Early" Retirement

Hello - I, like most people who are or who plan to retire prior to age 65 when Medicare is an option, am trying to determine the best way to address the health care issue and wanted to get thoughts from folks in this forum. My Data: Age: 56 and plan to retire at 57. Wife is 53. Both in very good he...
by Meaty
Sat Jun 30, 2018 4:59 pm
Forum: Personal Consumer Issues
Topic: Men's Cologne
Replies: 66
Views: 6418

Re: Men's Cologne

Hi All, Looking for recommendations for men's cologne. I'm married, early 50's I.T. manager. Not looking for anything daring, just a safe, smell good masculine cologne. Formerly used Polo Blue and looking for a change. Not looking to spend $50/ounce either. Any favorites? TIA, SyrDave Joop
by Meaty
Sat Jun 30, 2018 5:59 am
Forum: Personal Finance (Not Investing)
Topic: Passive Business Ideas
Replies: 8
Views: 1420

Re: Passive Business Ideas

runner3081 wrote:
Fri Jun 29, 2018 10:46 pm
Run an Amazon delivery fleet :)
I’m actually considering this but don’t know anything about logistics and what would actually be involved day to day

Does anyone know? Amazon doesn’t tell you much until you fill out an application
by Meaty
Thu Jun 28, 2018 1:51 pm
Forum: Personal Consumer Issues
Topic: Tequila and Magaritas
Replies: 75
Views: 7729

Re: Tequila and Magaritas

Here’s one I enjoy; I inadvertently “created” it (not sure if it was done before)

Island breeze (best name I could think of)
2 table spoons frozen lemonade
1 table spoon cherry juice
1 shot captain Morgan
Fill remainder of glass with Squirt soda and ice

It tastes like a dreamcicle
by Meaty
Thu Jun 28, 2018 5:20 am
Forum: Personal Consumer Issues
Topic: Save on inflated mobile $$$ plans ?
Replies: 15
Views: 1632

Re: Save on inflated mobile $$$ plans ?

Situation: I pay $120-$130 a month for my family mobile phone plan with 2 phone lines with one of the large US legacy carriers. The plan has unlimited data, 400 min of talk time and no sms. Now the issue is that these prices are inflated because they have an inbuilt subsidy for new devices which I ...
by Meaty
Tue Jun 19, 2018 11:41 am
Forum: Personal Investments
Topic: Am I on track to retire at 55?
Replies: 24
Views: 2937

Re: Am I on track to reitre at 55?

Background: 35 years old. Single. PA Resident. Government employee. I make about 53k a year. No debt. 25% tax bracket. Monthly expenses: 1,800 dollars. TSP Traditional: 10% contribution every check Balance: 92k 60% C Fund 20% S Fund 20% I Fund Roth IRA: Start maxing two years ago. Balance: 16K 100%...