Search found 781 matches

by KlingKlang
Mon Jun 17, 2019 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Looking for help with my parents' finances - dad's death, RMDs, social security
Replies: 35
Views: 2696

Re: Looking for help with my parents' finances - dad's death, RMDs, social security

In this situation your first priority should be making sure that your mother has adequate medical insurance coverage. She is not eligible for Medicare until she turns 65, so options to examine include coverage from her current job and her husband's previous employers. If these are not available she ...
by KlingKlang
Sun Jun 16, 2019 7:06 pm
Forum: Personal Consumer Issues
Topic: User reviews - How do you use them?
Replies: 33
Views: 1154

Re: User reviews - How do you use them?

The problems that you list are pretty typical for sites such as Amazon and Yelp. I don't rely on the numeric ratings much, since as you point out they are not consistent between users and many people don't understand numbers anyway. Your best bet is to actually read the reviews. Look for detailed in...
by KlingKlang
Mon Jun 10, 2019 5:58 pm
Forum: Personal Investments
Topic: Tax-managed Vanguard Funds
Replies: 10
Views: 1107

Re: Tax-managed Vanguard Funds

I currently own VTCLX, VTMSX (Tax-Managed Small-Cap Admiral Shares), and VOHIX in after tax accounts and VIGAX and VTSAX in my traditional IRA account. The important thing to know about the Vanguard Tax-Managed funds is that they were introduced before the Tax Act of 2003 reduced the tax rates on bo...
by KlingKlang
Fri Jun 07, 2019 9:07 am
Forum: Personal Consumer Issues
Topic: Toaster ovens - safe? better alternative?
Replies: 50
Views: 3556

Re: Toaster ovens - safe? better alternative?

Forty years ago when I was single and microwave ovens were still a curiosity I used a (probably cheap) toaster oven as my primary cooking tool. As I remember it didn't heat evenly and didn't have the power to cook something like a steak. Easy to burn your hands getting that thin tray in and out. Now...
by KlingKlang
Sun May 19, 2019 7:13 pm
Forum: Personal Consumer Issues
Topic: Yellowstone Family Resort/Glamping Rec's
Replies: 11
Views: 1761

Re: Yellowstone Family Resort/Glamping Rec's

One of our best family vacations was flying into Calgary, Alberta, CA and visiting the Royal Tyrrell dinosaur museum in Drumheller followed by several nights in the Canadian Rockies including Banff and Lake Louise.
by KlingKlang
Sat May 18, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Social security when lower earner is older
Replies: 3
Views: 336

Re: Social security when lower earner is older

Whether wife draws at 62 or full retirement age doesn't seem to make an enormous difference. And that answers my questions that wife can switch to the spousal benefit once the husband files. I believe that if the wife draws on her account before her full retirement age it results in a permanent red...
by KlingKlang
Sun May 12, 2019 7:41 pm
Forum: Personal Finance (Not Investing)
Topic: Do you know of anyone who has used this tax saving strategy?
Replies: 28
Views: 3556

Re: Do you know of anyone who has used this tax saving strategy?

So if your last parent lives to be 105 and you're 84, how much fun can you have with the money? If it hasn't been used up providing them with nursing home care? This is a sore point for me because when I was a child anytime that I asked for anything like 10 cents for a comic book (that would be wort...
by KlingKlang
Wed May 08, 2019 9:04 am
Forum: Personal Investments
Topic: Stopped an IRA transfer because being forced into brokerage account
Replies: 31
Views: 2506

Re: Stopped an IRA transfer because being forced into brokerage account

A year ago I did a direct rollover from an old 401(k) at Fidelity to my Vanguard old-style mutual fund tIRA account. Like the OP when I tried to do it through the Vanguard website I kept running into the open a new brokerage account dialog. Finally I called Vanguard and they told me that there isn't...
by KlingKlang
Tue May 07, 2019 7:57 pm
Forum: Personal Consumer Issues
Topic: wedding gift value
Replies: 80
Views: 4359

Re: wedding gift value

Wow. Have never spent >$25 on a wedding gift. At our wedding in 1984 the largest gift that we received was $50 from one of my friends. Everyone else gave us $5 to $10 to get back at my parents for going to dozens of their kids weddings, eating like pigs, getting puking drunk, and giving $5 to $10.
by KlingKlang
Tue May 07, 2019 2:52 pm
Forum: Personal Consumer Issues
Topic: wedding gift value
Replies: 80
Views: 4359

Re: wedding gift value

How much did your wife's friend give the two of you at your wedding?

(Yes, there are people who keep track of this) :shock:
by KlingKlang
Sun May 05, 2019 9:49 am
Forum: Personal Investments
Topic: 76 year old widowed mother needs investment advice
Replies: 19
Views: 1815

Re: 76 year old widowed mother needs investment advice

KlingKlang's statement about LTCG taxation (previously bolded) is either a typo or wrong. (What he actually wrote is a common misunderstanding. But it could also just be a typo where he meant to say "taxable income" rather than "gains".) Sorry about that. That's what I get for copying text from ano...
by KlingKlang
Fri May 03, 2019 10:07 am
Forum: Personal Investments
Topic: 76 year old widowed mother needs investment advice
Replies: 19
Views: 1815

Re: 76 year old widowed mother needs investment advice

My mom continues to worry about the money. It sounds like your mother needs another $26,000 in annual investment income to make up the difference between her SS and pension and her $60,000 expenses. One way to accomplish this is to purchase a SPIA (Single Premium Immediate Annuity). This would guar...
by KlingKlang
Sat Apr 27, 2019 5:13 pm
Forum: Personal Finance (Not Investing)
Topic: What are the cons of always being a one parent working household?
Replies: 134
Views: 8394

Re: What are the cons of always being a one parent working household?

The entire family is vulnerable to the complete loss of their income in the event that the 42 year old loses their job due to layoff, disability, or death. The difficulties from the latter two can be mitigated with sufficient insurance.
by KlingKlang
Sat Apr 27, 2019 5:03 pm
Forum: Personal Finance (Not Investing)
Topic: How to define wealth
Replies: 51
Views: 4784

Re: How to define wealth

For me the most important point in the Ben Carlson article was the penultimate paragraph: The standard of living where you choose to reside can have a huge impact on how far any of these income or wealth numbers can get you. And how much or how little you choose to spend of that income or wealth als...
by KlingKlang
Wed Apr 24, 2019 9:23 am
Forum: Personal Finance (Not Investing)
Topic: Examples of financial accounting rules not applicable to personal finance?
Replies: 60
Views: 2686

Re: Examples of financial accounting rules not applicable to personal finance?

I've been using double-entry bookkeeping for my personal finances for 40 years. One problem that I have is using book value instead of market value for assets. If I have a mutual fund purchased for $100k that now has a market value of $500k it seems that I am understating my net worth to list it at ...
by KlingKlang
Sun Apr 21, 2019 8:47 am
Forum: Personal Consumer Issues
Topic: Tips for getting the most out of your cruise?
Replies: 60
Views: 4135

Re: Tips for getting the most out of your cruise?

We've only been on two cruises (Norwegian and Viking) and both were horrible disappointments. Traveling as a couple makes you vulnerable to the larger groups. You can show up for an event an hour early, sit down in the lounge with three other people, and someone will run over and yell at you "Those ...
by KlingKlang
Tue Apr 16, 2019 9:33 am
Forum: Personal Investments
Topic: Roth IRA forcing bad asset allocation
Replies: 8
Views: 724

Re: Roth IRA forcing bad asset allocation

You do realize that you can exchange assets within your Roth IRA at any time with no tax consequences? Just because it currently contains only bonds and REIT does not mean that you have to keep it that way. First decide on your overall asset allocation - let's say 50% total stock, 30% total internat...
by KlingKlang
Tue Apr 09, 2019 8:54 pm
Forum: Personal Finance (Not Investing)
Topic: Not much work at new megacorp job
Replies: 70
Views: 5614

Re: Not much work at new megacorp job

Do you get called into your boss's office every year for a performance review? What do they say when you tell them that "I hardly have any work"? Normally this situation won't last forever. I was in a somewhat similar situation but I was in my later 50's and close to FI, so just riding along until I...
by KlingKlang
Mon Apr 08, 2019 9:12 am
Forum: Personal Investments
Topic: EE bonds doubling date
Replies: 12
Views: 1048

Re: EE bonds doubling date

That particular savings bond will double in value August 1, 2019 and be redeemable for its face value.
by KlingKlang
Wed Apr 03, 2019 4:21 pm
Forum: Personal Finance (Not Investing)
Topic: Part-time job for high school student
Replies: 23
Views: 778

Re: Part-time job for high school student

My wife, myself, and our daughter all worked as pages reshelving books at the county library. The pay wasn't the greatest but it's an indoor job. Pre-internet knowing every book in the library was a real advantage with school work.
by KlingKlang
Sun Mar 31, 2019 4:56 pm
Forum: Personal Investments
Topic: Bonds vs MM funds. Advantage and disadvantage.
Replies: 6
Views: 1462

Re: Bonds vs MM funds. Advantage and disadvantage.

Thank you. For long term, do you have a recommendation? Is there a good Vanguard fund focusing on long term bonds. Vanguard just opened the Vanguard Long-Term Bond Index Fund Admiral Shares (VBLAX) https://investor.vanguard.com/mutual-funds/profile/overview/vblax . Since it's brand new there is no ...
by KlingKlang
Sat Mar 30, 2019 11:00 am
Forum: Personal Investments
Topic: Bonds vs MM funds. Advantage and disadvantage.
Replies: 6
Views: 1462

Re: Bonds vs MM funds. Advantage and disadvantage.

I think that you pretty much nailed it. I became disenchanted with short term bond funds in 2008 when they crashed almost as hard as my stock funds. Long term bonds are the real diversifier for stocks. Random comments: A2. Bonds increase in value when interest rates are cut. MM interest falls rapidl...
by KlingKlang
Fri Mar 29, 2019 10:17 am
Forum: Personal Investments
Topic: Help save my father from another annuity
Replies: 20
Views: 1526

Re: Help save my father from another annuity

I am grateful to have the above annuities as they both have been far superior to my bond index funds over the past decade or so. I get that you need to be very careful when buying annuities but I do not get the knee jerk reaction of many that they are all evil. You are fortunate to have access to t...
by KlingKlang
Fri Mar 29, 2019 9:17 am
Forum: Personal Investments
Topic: Help save my father from another annuity
Replies: 20
Views: 1526

Re: Help save my father from another annuity

I'm going to take a contrarian position on this. If your dad is happy to have lifetime income, let him keep his annuities. Why would want to "save" your father from having a happy retirement? The OP's father is not taking any income from these annuities. What little earnings they are producing is b...
by KlingKlang
Tue Mar 26, 2019 9:40 am
Forum: Investing - Theory, News & General
Topic: Zero federal tax. Will this cause an audit?
Replies: 43
Views: 4210

Re: Zero federal tax. Will this cause an audit?

At the end of the tax review section Turbo Tax gives you an audit risk evaluation (mine is always low). They also try to sell you an audit defense package which you should not waste $44.99 on. Why not audit defense package? I always wonder what it's and whether it's worth it. My understanding is th...
by KlingKlang
Mon Mar 25, 2019 8:35 pm
Forum: Investing - Theory, News & General
Topic: Zero federal tax. Will this cause an audit?
Replies: 43
Views: 4210

Re: Zero federal tax. Will this cause an audit?

I had that happen about 5 years ago. Which was AMAZING, because we have lots of highly variable income, like bonuses, and wifes ebay business. Our income can be up or down 25% in any given year. And withholding is all over the place. But Turbotax came back with zero owed, zero refund! I went back a...
by KlingKlang
Mon Mar 25, 2019 8:25 pm
Forum: Investing - Theory, News & General
Topic: Zero federal tax. Will this cause an audit?
Replies: 43
Views: 4210

Re: Zero federal tax. Will this cause an audit?

At the end of the tax review section Turbo Tax gives you an audit risk evaluation (mine is always low). They also try to sell you an audit defense package which you should not waste $44.99 on. You can use the "Forms" view in Turbo Tax to look at the actual IRS forms that will be filed and the worksh...
by KlingKlang
Mon Mar 25, 2019 9:55 am
Forum: Personal Consumer Issues
Topic: Nice men's jeans
Replies: 53
Views: 3361

Re: Nice men's jeans

I purchased my last two pairs of jeans (regular fit and fleece lined) at Costco for under $20 each and I haven't been thrown out of a restaurant yet.
by KlingKlang
Thu Mar 21, 2019 11:07 am
Forum: Personal Investments
Topic: Tax-efficient fund placement when considering early retirement
Replies: 28
Views: 2097

Re: Tax-efficient fund placement when considering early retirement

I am in a somewhat similar situation in that I was non-consensually early retired at age 58 and won't be taking distributions from my tIRA accounts until I am 65 in order to stay eligible for ACA health insurance coverage. Given that you are postulating 15 years of employment before early retirement...
by KlingKlang
Fri Mar 15, 2019 1:03 pm
Forum: Personal Investments
Topic: Basic retirement withdrawal plan question
Replies: 20
Views: 2351

Re: Basic retirement withdrawal plan question

You didn't mention if these funds were held in pre or after tax accounts. For pre-tax accounts taking withdrawals from any combination of accounts and rebalancing is fine. For after tax accounts I would open up the MM fund and direct all dividends and capital gains from the other accounts to it. Whe...
by KlingKlang
Fri Mar 15, 2019 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Tax refund if taxes withheld but no return filed (under threshold)?
Replies: 8
Views: 445

Re: Tax refund if taxes withheld but no return filed (under threshold)?

Yes. The IRS and states will not send anyone a refund if they do not file a return. Also some states have a minimum refund amount that must be be claimed before they will send it.
by KlingKlang
Mon Mar 11, 2019 4:36 pm
Forum: Personal Investments
Topic: Can't see retiring without 15x-30x fixed income
Replies: 217
Views: 15649

Re: Can't see retiring without 15x-30x fixed income

I went back and checked my records, I had 21x (Total expenses - (Entertainment + Vacation expenses)) in fixed income when I was laid off in 2014 at age 58. Another 26x in stocks, so 55/45 asset allocation. Curious about what constitutes "safe fixed income"? Are you only including government insured ...
by KlingKlang
Mon Mar 11, 2019 11:28 am
Forum: Investing - Theory, News & General
Topic: Anyone using GrowFinancial's 2.75% MM account?
Replies: 1
Views: 247

Re: Anyone using GrowFinancial's 2.75% MM account?

It's a credit union so you have to work for a certain list of employers or be active or retired military to join. I couldn't tell if you can join online or have to go to one of their physical locations. Most importantly it's a promotional rate which could be reduced to their standard rates of 1% or ...
by KlingKlang
Sun Mar 10, 2019 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Should I leave my local bank
Replies: 43
Views: 3555

Re: Should I leave my local bank

A $2000 limit on ACH transfers is ridiculous. Start looking, with any luck you will find a new bank with a substantial new account bonus. Be sure to keep both accounts open until you get all of your direct deposits and auto pays switched over to the new account.
by KlingKlang
Sun Mar 10, 2019 10:55 am
Forum: Personal Finance (Not Investing)
Topic: My liability for visiting foreign relatives' emergency medical expenses
Replies: 6
Views: 1228

Re: My liability for visiting foreign relatives' emergency medical expenses

Disclaimer: I know nothing about Japanese medical insurance. Unless you are the legal guardian of these elderly relatives a hospital can not force you to pay for their care. If they do have to be hospitalized I suggest that you do not sign anything. The hospital will negotiate with their insurance c...
by KlingKlang
Thu Mar 07, 2019 11:34 am
Forum: Personal Investments
Topic: Fees, taxes, or other issues with selling after a short time frame
Replies: 4
Views: 356

Re: Fees, taxes, or other issues with selling after a short time frame

Short term capitol gains taxes. Long term more than a year holding. Another transaction fee of $5. Do I still have to pay short term capital gains if I have simply been reinvesting dividends, not making any additional contributions? In other words, would the sale of shares purchased via dividend re...
by KlingKlang
Sat Mar 02, 2019 5:31 pm
Forum: Investing - Theory, News & General
Topic: I Bonds and rebalancing?
Replies: 8
Views: 748

Re: I Bonds and rebalancing?

Treat your tax-advantaged and after-tax investments as a single portfolio for purposes of your asset allocation. It's easier to rebalance with the funds in your tax-advantaged account anyway because there are no tax consequences when you make an exchange between different investments.
by KlingKlang
Sun Feb 24, 2019 5:35 pm
Forum: Personal Finance (Not Investing)
Topic: Who does their own taxes?
Replies: 111
Views: 7499

Re: WHO DOES THEIR OWN TAXES

You will be completing the Social Security Benefits Worksheet for your SS which includes information on your muni bond interest. If you have qualified dividends you will be completing the Qualified Dividends and Capital Gain Tax Worksheet. You may have to deal with Form 8606 for your IRA distributio...
by KlingKlang
Sat Feb 23, 2019 5:40 pm
Forum: Personal Finance (Not Investing)
Topic: Losing a job in your 50's...
Replies: 375
Views: 41627

Re: Losing a job in your 50's...

I realised something on this thread. That most people who are laid off in their 50’s just hang it up if they can not find another job. I see very little mention of starting a bussiness and wonder why this is not an option for more people? IMO most people who have worked as employees into their 50's...
by KlingKlang
Wed Feb 20, 2019 12:44 pm
Forum: Investing - Theory, News & General
Topic: Target Date funds are hazardous to your wealth
Replies: 59
Views: 8116

Re: Target Date funds are hazardous to your wealth

I have problems with both of the trend charts in the article. It is difficult to believe that in the first chart of TDF vs balanced funds that the TDF wouldn't grow faster in the early years when it is 80% stocks and the balanced fund is 50%. In the second chart of Vanguard Balanced vs SP500 funds t...
by KlingKlang
Sun Feb 17, 2019 12:07 pm
Forum: Personal Finance (Not Investing)
Topic: Moved to new state/job 6M ago. Previous employer wants me back!
Replies: 57
Views: 5649

Re: Moved to new state/job 6M ago. Previous employer wants me back!

You quit the old company because "things had really dried up and all projects were killed". Now the old company has ONE (?) new project. What happens when that one dries up?
by KlingKlang
Sat Feb 09, 2019 1:29 pm
Forum: Personal Finance (Not Investing)
Topic: Pay for life insurance on myself for my parents?
Replies: 12
Views: 530

Re: Pay for life insurance on myself for my parents?

You are not being selfish. I assume that your parents are the beneficiaries of this term life insurance. Do you get life insurance through your employer that you could replace this with? Do you have anyone else (spouse, significant other, children, siblings) that would receive more benefit from bein...
by KlingKlang
Thu Feb 07, 2019 12:09 pm
Forum: Personal Investments
Topic: Custodian for parents retirement money, please help me invest.
Replies: 21
Views: 623

Re: Custodian for parents retirement money, please help me invest.

I'm not sure how it works since they're not US citizens and live overseas. They wanted to send the money now instead of having it be taxed at 30-40% as inheritance in their home country. Oh boy. Now on top of everything else we're adding tax avoidance into this mix. I have no idea where I would go ...
by KlingKlang
Wed Feb 06, 2019 12:13 pm
Forum: Personal Investments
Topic: Year 4 Check-Up & Beginner Motivation
Replies: 7
Views: 876

Re: Year 4 Check-Up & Beginner Motivation

1. Check-up on our portfolio 2. We are currently socking away $4-5k for future vehicle purchases as both ours are over 100,000 miles. Once this occurs, should we shift these savings to maxing out my 401k? You may wish to continue saving in an after tax account so that when the time comes for future...
by KlingKlang
Tue Feb 05, 2019 11:39 am
Forum: Personal Investments
Topic: Taxable/Only bond fund for 81-year-old father
Replies: 13
Views: 1028

Re: Taxable/Only bond fund for 81-year-old father

One point that no one has mentioned yet is that while the interest from VWIUX is exempt from federal taxation it is added into the MAGI number that determines how much of the OP's father's social security income is taxable. Of course if his income is high enough even without the bond fund interest t...
by KlingKlang
Wed Jan 30, 2019 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: How do early retirees get health insurance in the US?
Replies: 22
Views: 2918

Re: How do early retirees get health insurance in the US?

Off the top of my head: - Check if your employers offer any retiree healthcare benefits. - See if you are eligible for any veterans' benefits. - See if you are eligible for Medicaid. - Price the cost of continuing your employers' healthcare coverage for 18 months on COBRA. - Price the cost of non-AC...
by KlingKlang
Mon Jan 28, 2019 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Career Decision - Asking for help.
Replies: 30
Views: 2862

Re: Career Decision - Asking for help.

If I were in your shoes, there are two paths. First is to negotiate a substantial compensation package which includes equity in the business. If he is unwilling, the 2nd path is to pay back the cost of the MBA and leave. There may be a 2B path which is to find a company that would be willing to pay...
by KlingKlang
Sun Jan 27, 2019 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Career Decision - Asking for help.
Replies: 30
Views: 2862

Re: Career Decision - Asking for help.

Working for a family company can be great if you are part of the family. Currently the company is controlled by an almost absentee CEO who expects you to devote yourself to it 24/365 so that he can eventually hand it over to his unmotivated kids with no chance of you ever getting a meaningful amount...
by KlingKlang
Sun Jan 27, 2019 11:18 am
Forum: Personal Finance (Not Investing)
Topic: Looking for advice on setting up inheritance
Replies: 8
Views: 624

Re: Looking for advice on setting up inheritance

One option that you should investigate is setting up a trust for your daughter's benefit and hiring a professional trustee to manage it. This avoids worries about you outliving the trustee and putting a burden on a family member.
by KlingKlang
Sun Jan 20, 2019 10:29 am
Forum: Investing - Theory, News & General
Topic: International Stock = Lower Qualified Dividends
Replies: 5
Views: 466

Re: International Stock = Lower Qualified Dividends

It's a matter of asset placement rather than amount. I hold Vanguard Total International Stock Admiral in my tIRA where qualified dividends are not an issue.