Search found 1082 matches

by Ron Ronnerson
Tue Apr 23, 2019 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Taking the new job or not?
Replies: 24
Views: 948

Re: Taking the new job or not?

The extra costs of day care, more meals eaten out, higher commuting costs, and taxes should be subtracted. Then factor in increased stress (strain on your physical, mental, and emotional well-being). While it is hard to put a monetary value on this stuff, try doing it. Also factor in the pressure pu...
by Ron Ronnerson
Sat Apr 20, 2019 11:48 pm
Forum: Personal Finance (Not Investing)
Topic: leaving state job / pension. ..... bad idea?
Replies: 44
Views: 3365

Re: leaving state job / pension. ..... bad idea?

I have some similar stats as you. I’m also 44 and have worked in my job for the past 16 years (I’m a public-school teacher). You and I have almost identical incomes and expected pensions. I plan to retire around age 61 with a pension of right around $100k. Unlike you, my work doesn’t provide any hea...
by Ron Ronnerson
Fri Apr 19, 2019 6:12 pm
Forum: Personal Consumer Issues
Topic: How far would you commute?
Replies: 72
Views: 2783

Re: How far would you commute?

It depends on the particulars of the exact situation. The higher the pay, the longer I’d be willing to commute, but only up to a point. Also, the amount of days and hours worked matters. All things being equal, commuting is terrible and should be avoided. However, all things are usually not equal.
by Ron Ronnerson
Wed Apr 17, 2019 7:34 pm
Forum: Investing - Theory, News & General
Topic: The Final, Definitive Thread on Brokerage Transfer Bonuses
Replies: 1690
Views: 264565

Re: The Final, Definitive Thread on Brokerage Transfer Bonuses

Also, don't use the Money Show code. They'll demand proof that you were there. Also, always open a new account. Don't ask for a bonus to be added to an already open account, as this seems to be asking for scrutiny and trouble. Just one data point but I used the money code and no proof was demanded ...
by Ron Ronnerson
Wed Apr 10, 2019 11:49 am
Forum: Personal Finance (Not Investing)
Topic: How do 40 year olds decide what they can afford?
Replies: 85
Views: 9568

Re: How do 40 year olds decide what they can afford?

My wife and I are both 44 and have found that time is the most precious thing to us so we’re purchasing large amounts of it by not working too much. This allows us to spend a lot of time together as a family (I’m a teacher, my wife is a stay-at-home parent, and we have a four-year-old). If we really...
by Ron Ronnerson
Mon Apr 08, 2019 10:19 pm
Forum: Personal Consumer Issues
Topic: Robot vacuum cleaner - need recommendation
Replies: 13
Views: 941

Re: Robot vacuum cleaner - need recommendation

We have a Deebot N79S Self-Charging Robot Vacuum Cleaner. We bought it for $160 on Amazon last summer. It’s worked nicely for us. It sometimes gets trapped in places so we monitor it. For that price, we weren’t expecting perfection. It does a good job of cleaning up, though. We have a four-year-old ...
by Ron Ronnerson
Sun Apr 07, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6673

Re: Boglehead teachers or those married to one: some questions about career and life...

Fair enough. Remember, high/low and over/under are relative terms though. A teacher getting paid $100,000 in say New Orleans Louisiana would indeed be considered being compensated "very highly" as you stated as only 18% of the population makes great than that and 50% of the population makes less th...
by Ron Ronnerson
Sun Apr 07, 2019 12:48 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6673

Re: Boglehead teachers or those married to one: some questions about career and life...

What do you think that others think k-12 school teachers earn? I don't think, if I want to know this information it is very easy to look up. I kind of roll my eyes when I hear the generalization that teachers are "underpaid". Some are not compensated very highly, many are. I would argue it is diffi...
by Ron Ronnerson
Sun Apr 07, 2019 11:02 am
Forum: Personal Finance (Not Investing)
Topic: "Worried about being pushed into 'higher tax bracket' "
Replies: 25
Views: 1984

Re: "Worried about being pushed into 'higher tax bracket' "

I find that many of my coworkers (I’m a teacher) have the misconception that their entire income is taxed at the higher bracket if they fall into the next bracket. However, I think a bigger issue that many people don’t actually take enough time to evaluate is whether working extra hours is worth it ...
by Ron Ronnerson
Wed Apr 03, 2019 7:26 pm
Forum: Personal Investments
Topic: Adoption Tax Credit for Special Needs Child
Replies: 3
Views: 202

Re: Adoption Tax Credit for Special Needs Child

We’ve used the adoption tax credit as well (about five years ago). In order to use it up, we converted funds in a traditional IRA account to Roth to raise our taxable income. If you have this option, you might want to consider it. I also agree with the previous response that contributing to Roth acc...
by Ron Ronnerson
Wed Apr 03, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6673

Re: Boglehead teachers or those married to one: some questions about career and life...

we are both 32 years old - approaching 33. she makes ~$100K and i am at ~$115K - again with a higher ceiling for me. I’m expecting a pension of about $100k/year around age 60 after teaching for 33 years. If I were to leave now (at age 44 with 16 years of service), my pension would be maybe $30k/yea...
by Ron Ronnerson
Tue Apr 02, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Boglehead teachers or those married to one: some questions about career and life...
Replies: 101
Views: 6673

Re: Boglehead teachers or those married to one: some questions about career and life...

It sounds like you’re aware of the main issues with potentially moving. I’m a mid-career teacher and feel stuck where I am (though I'm happy so it could surely be worse). I work at a school with motivated kids, we have a really nice principal, supportive parents, I’m tenured, have relatively high se...
by Ron Ronnerson
Mon Apr 01, 2019 1:01 pm
Forum: Non-US Investing
Topic: Your opinion on debt?
Replies: 111
Views: 6510

Re: Your opinion on debt?

I recently opened up a checking account that pays 4% interest (on up to $30k balance but multiple accounts are allowed). I’m in the 12% federal and 0% California income tax brackets so the after-tax rate is 3.52%. My mortgage is at 3.25% (30-year fixed) but I itemize on state taxes so the effective ...
by Ron Ronnerson
Sun Mar 31, 2019 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: What is your annual cost for health insurance?
Replies: 155
Views: 12686

Re: What is your annual cost for health insurance?

After finishing my taxes this year and seeing what I paid in Federal taxes for working 1 full-time and 2 part-time jobs in 2018, I found it interesting that I paid more last year in healthcare and prescription premiums (not co-pays) for my family of 4 than I did in Federal taxes. Is this normal for...
by Ron Ronnerson
Mon Mar 25, 2019 10:36 pm
Forum: Personal Finance (Not Investing)
Topic: How to juggle Roth conversions with staying under ACA cliff?
Replies: 22
Views: 1445

Re: How to juggle Roth conversions with staying under ACA cliff?

Yes, I think it's complicated too. For example, for our family of three, one might assume our income needs to be under $83,120 to qualify for a subsidy since that is 400% of federal poverty level. However, we actually need to keep our income under $66,100 in order to not go over the cliff for our p...
by Ron Ronnerson
Mon Mar 25, 2019 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: How to juggle Roth conversions with staying under ACA cliff?
Replies: 22
Views: 1445

Re: How to juggle Roth conversions with staying under ACA cliff?

For family of 3, you are just under 300% FPL at 60k, so that is still in the part of the curve where the marginal rate will have an odd, and complex shape due to the percentage of income changing continuously. I think it works out that the average is ~15%, but it does fluctuate around that, Once yo...
by Ron Ronnerson
Sun Mar 24, 2019 11:37 am
Forum: Personal Finance (Not Investing)
Topic: How to juggle Roth conversions with staying under ACA cliff?
Replies: 22
Views: 1445

Re: How to juggle Roth conversions with staying under ACA cliff?

Under the ACA income range for a subsidy (138% to 400% Federal Poverty Level) every additional dollar of income causes some loss of premium tax credit - effectively an additional tax at a rate, initially, of 15% up to 300% FPL (I think) then 9.5% thereafter. Combined with Federal and State your ove...
by Ron Ronnerson
Fri Mar 22, 2019 8:26 am
Forum: Personal Investments
Topic: 3% on Checking - Redneck Bank, not a joke
Replies: 19
Views: 3117

Re: 3% on Checking - Redneck Bank, not a joke

I've researched and considered a lot of high interest savings and checking accounts and have concluded, not surprisingly, that there is no free lunch. If I can go from 2.2% to 3.0% on say, $50k in savings, that's $400 a year. Not too shabby, and maybe even worth jumping through a few hoops, doing d...
by Ron Ronnerson
Thu Mar 21, 2019 8:06 pm
Forum: Personal Investments
Topic: 3% on Checking - Redneck Bank, not a joke
Replies: 19
Views: 3117

Re: 3% on Checking - Redneck Bank, not a joke

You can get a better deal at Orion Federal Credit Union. They pay 4% on checking with a $30,000 cap and only require 8 purchases per month. This does sound like a good deal. Do you know if online purchases count toward the 8 required monthly purchase transactions? Is there a minimum required amount...
by Ron Ronnerson
Thu Mar 21, 2019 7:46 pm
Forum: Personal Investments
Topic: 3% on Checking - Redneck Bank, not a joke
Replies: 19
Views: 3117

Re: 3% on Checking - Redneck Bank, not a joke

You can get a better deal at Orion Federal Credit Union. They pay 4% on checking with a $30,000 cap and only require 8 purchases per month. This does sound like a good deal. Do you know if online purchases count toward the 8 required monthly purchase transactions? Is there a minimum required amount...
by Ron Ronnerson
Sun Mar 17, 2019 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: Housing should be no more than 28% of your income.
Replies: 66
Views: 5806

Re: Housing should be no more than 28% of your income.

There are no rules (or one size fits all as mentioned above). Housing is a consumable item and how much you spend on it as part of your spending budget it up to you. Maybe you want to spend more on housing than say vacations (zero?), fancier cars, entertainment, gifts, high-cost education, or anyth...
by Ron Ronnerson
Sat Mar 16, 2019 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Property tax hacks in California
Replies: 53
Views: 4886

Re: Property tax hacks in California

Somehow nobody mentioned another part of Prop 13, in particular 1% cap: Proposition 13 capped, with limited exceptions, ad valorem property tax rates at one percent of full cash value at the time of acquisition. I wonder how anyone could pay $30K property tax for the home worth $2.5M, like topic st...
by Ron Ronnerson
Sun Mar 10, 2019 7:37 pm
Forum: Personal Finance (Not Investing)
Topic: Are academic enrichment courses for school age kids worth it
Replies: 61
Views: 3127

Re: Are academic enrichment courses for school age kids worth it

Based on the way you describe things, it doesn’t sound like your kids are struggling academically and I don’t think they really need tutoring services. As for enrichment, I’d try to enroll them in activities that they find interesting. You said “it was impressed upon me at a very early age the impor...
by Ron Ronnerson
Fri Mar 08, 2019 8:15 pm
Forum: Personal Finance (Not Investing)
Topic: Savings Rate
Replies: 97
Views: 7329

Re: Savings Rate

When people say “I save X% of my income”, is it understood that this % is based on gross income? I base the calculation on gross income. I also include mortgage principal. Not sure how one saves 70% of gross. My taxes and FICA alone chew up about 25%. I couldn’t live on 5%. I agree that saving 70% ...
by Ron Ronnerson
Thu Mar 07, 2019 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: Best deals on monthly/recurring cost items - what your best deal?
Replies: 13
Views: 1710

Re: Best deals on monthly/recurring cost items - what your best deal?

Some recurring costs we’ve managed to get to a manageable level: Mortgage (30-year fixed): $1800/month for a 4 bedroom/4 bathroom townhouse in the Bay Area (2150 sq. ft) - excellent neighborhood and schools. Our effective interest rate is around 3%. The local rate of inflation over the past year has...
by Ron Ronnerson
Wed Mar 06, 2019 8:04 pm
Forum: Personal Finance (Not Investing)
Topic: Framework to evaluate life and lifestyle choices?
Replies: 38
Views: 2639

Re: Framework to evaluate life and lifestyle choices?

Where you spend your time and energy speaks to priorities. Personally, I’d spend time with the kids while they are still kids. Actually, that’s the approach we’ve taken in our home. I teach the kids of Silicon Valley engineers. I’m home by 4 p.m. on the 180 days a year that I have to work while my w...
by Ron Ronnerson
Sun Mar 03, 2019 9:21 pm
Forum: Personal Consumer Issues
Topic: Why do you live where you live?
Replies: 134
Views: 8507

Re: Why do you live where you live?

I’m in the Bay Area. We live where we do because life is good to us here. Reasons include: -Family is nearby. Both sets of parents live a few minutes away and my sister and her family are our next-door neighbors so our daughter can play with her cousins every day and visit grandparents often -We are...
by Ron Ronnerson
Wed Feb 20, 2019 1:47 pm
Forum: Personal Finance (Not Investing)
Topic: Effective tax rate
Replies: 26
Views: 1796

Re: Effective tax rate

6 kids child credits gets us to a -3.6% rate. About $8000 total tax on $107,000 gross. One teacher, one self employed. Teacher doesn't pay SS. No property tax currently. That's a nice rate! A few years ago, we eliminated all federal income taxes due on our gross income of around $150k by qualifying...
by Ron Ronnerson
Wed Feb 20, 2019 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Effective tax rate
Replies: 26
Views: 1796

Re: Effective tax rate

Gross income is around $115k. Most of this is earned income except maybe $2k or so in interest. Married filing jointly with one child. We have over $50k in above-line deductions (mostly for retirement but also for things like FSA accounts and dental insurance premiums). After taking the standard de...
by Ron Ronnerson
Wed Feb 20, 2019 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Effective tax rate
Replies: 26
Views: 1796

Re: Effective tax rate

Gross income is around $115k. Most of this is earned income except maybe $2k or so in interest. Married filing jointly with one child. We have over $50k in above-line deductions (mostly for retirement but also for things like FSA accounts and dental insurance premiums). After taking the standard ded...
by Ron Ronnerson
Wed Feb 20, 2019 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Effective tax rate
Replies: 26
Views: 1796

Re: Effective tax rate

There are some large tax credits available out there. Should those be ignored in the calculation or considered to reduce federal income tax liability? Examples include premium tax credit for health insurance and the adoption tax credit. Both these credits can be five figures. Other examples include ...
by Ron Ronnerson
Tue Feb 19, 2019 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 191
Views: 29224

Re: Teachers do not make much - I keep reading

things like Teachers earn six-figures after about 10 years and it is very rare. I used to work in K-12 and now work for a community college. Rarely do teachers make over $100,00 and if so it is after many years and at the end of the salary scale. I looked up about 10 different teacher salary scales...
by Ron Ronnerson
Mon Feb 18, 2019 1:21 am
Forum: Personal Investments
Topic: Teacher: Max Roth 403b and Roth IRA. Next?
Replies: 20
Views: 1245

Re: Teacher: Max Roth 403b and Roth IRA. Next?

I know you asked Socrates28 but I have both a 403b and 457b with CalSTRS Pension 2. I max the 457b and fill the 403b about half-way. I also contribute some money toward a traditional IRA (my wife and I used to fund Roth IRAs in the past but have switched totally to traditional accounts due to the pa...
by Ron Ronnerson
Mon Feb 18, 2019 12:44 am
Forum: Personal Investments
Topic: Teacher: Max Roth 403b and Roth IRA. Next?
Replies: 20
Views: 1245

Re: Teacher: Max Roth 403b and Roth IRA. Next?

I’m a California teacher as well. Overall, I’d approach it like this: Use traditional accounts until you get down to the 12% bracket and then switch to Roth. If your 457b and 403b fund choices are about the same in terms of fees, I’d prioritize the 457b over the 403b due to the no-penalty provision ...
by Ron Ronnerson
Sun Feb 10, 2019 6:40 pm
Forum: Personal Consumer Issues
Topic: Mint Mobile feedback
Replies: 27
Views: 2228

Re: Mint Mobile feedback

Thanks for the info. I’m considering switching but not totally sure. Group text messaging not working would be a problem for us. Has anyone else encountered the same issues as LSLover of group texts not going through? At first my messages to the group were sent individually. However after a quick s...
by Ron Ronnerson
Sun Feb 10, 2019 6:13 pm
Forum: Personal Consumer Issues
Topic: Mint Mobile feedback
Replies: 27
Views: 2228

Re: Mint Mobile feedback

Thanks for the info. I’m considering switching but not totally sure. Group text messaging not working would be a problem for us. Has anyone else encountered the same issues as LSLover of group texts not going through?
by Ron Ronnerson
Sun Feb 10, 2019 5:09 pm
Forum: Personal Consumer Issues
Topic: Mint Mobile feedback
Replies: 27
Views: 2228

Re: Mint Mobile feedback

It looks like Mint Mobile is offering a great deal right now - $20 for 8GB for 3 months to try out the service (so around $7/month). After 3 months, there is the option to buy another 12 months for $240. I’m thinking of switching from Cricket Wireless. The cost with Cricket for 2 lines for 15 months...
by Ron Ronnerson
Fri Feb 08, 2019 8:35 pm
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 191
Views: 29224

Re: Teachers Who Have Net Worth of $1 million +

Teachers in many western PA schools do rather well. And if they want to, they can generate more income working in the summer. Almost all I know do not. RM That's because you need the summer months to recover from the other months. That isn't the case for other professions? I can’t speak for anyone ...
by Ron Ronnerson
Fri Feb 08, 2019 6:03 pm
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 191
Views: 29224

Re: Teachers Who Have Net Worth of $1 million +

Teachers in many western PA schools do rather well. And if they want to, they can generate more income working in the summer. Almost all I know do not. RM That's because you need the summer months to recover from the other months. That isn't the case for other professions? I can’t speak for anyone ...
by Ron Ronnerson
Fri Feb 08, 2019 12:29 am
Forum: Personal Consumer Issues
Topic: How many hours do you work and what do you outsource
Replies: 88
Views: 7589

Re: How many hours do you work and what do you outsource

We place a premium on time in our house. I'm a teacher and, after quite a few years teaching the same curriculum, have found ways to run things fairly efficiently. I work 8-3 Monday-Friday and usually put in a couple more hours over the weekend. I have about half the days of the year off. My wife st...
by Ron Ronnerson
Thu Jan 31, 2019 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Teacher expenses credit
Replies: 11
Views: 751

Re: Teacher expenses credit

I incurred, but did not pay, $1,000 last term for my studies. It isn't due yet. If you did not pay it in 2018, there is no impact on your 2018 tax return. If paid in 2019, it can count towards tax benefits for education on your 2019 return. I paid $100 for an online course about teaching reading in...
by Ron Ronnerson
Tue Jan 22, 2019 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: What should be the minimum income to consider living in a HCOL?
Replies: 29
Views: 2922

Re: What should be the minimum income to consider living in a HCOL?

It is the taxes then! Not sure how you managed to get that low taxes (fed effective tax rate is only 1.65%!!). But I pay at least 4 times what you pay in federal taxes, and 20 times in state taxes! This may or may not be helpful to you in lowering your own taxes but, just in case, this is how it wo...
by Ron Ronnerson
Tue Jan 22, 2019 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: What should be the minimum income to consider living in a HCOL?
Replies: 29
Views: 2922

Re: What should be the minimum income to consider living in a HCOL?

BogleMelon: My numbers look similar to yours in many ways. We live in the Bay Area on my sole income as a public school teacher and my wife is currently a stay-at-home parent. We’re both 44 and our income is almost identical to yours (around $115k). Like you, we also save right around $34k in retir...
by Ron Ronnerson
Mon Jan 21, 2019 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: What should be the minimum income to consider living in a HCOL?
Replies: 29
Views: 2922

Re: What should be the minimum income to consider living in a HCOL?

BogleMelon: My numbers look similar to yours in many ways. We live in the Bay Area on my sole income as a public school teacher and my wife is currently a stay-at-home parent. We’re both 44 and our income is almost identical to yours (around $115k). Like you, we also save right around $34k in retire...
by Ron Ronnerson
Sat Jan 19, 2019 9:02 pm
Forum: Personal Consumer Issues
Topic: Is California worth the premium?
Replies: 89
Views: 5385

Re: Is California worth the premium?

I grew up in Arizona and lived there until my 20s. I’ve been living in the Bay Area for the past 22 years now. Things cost a bit more out here except for real estate, which is much more. If you can address that piece of the puzzle, I personally find it worthwhile to live here. However, it is definit...
by Ron Ronnerson
Fri Jan 18, 2019 6:18 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy a house in the Bay area or give up?
Replies: 94
Views: 7630

Re: Should I buy a house in the Bay area or give up?

We bought our home in the Bay Area a few years back so I do understand the emotions you’re feeling. However, no one knows how home prices might change so I wouldn’t worry about trying to get the timing right. You should buy a house because you want to live in one and can afford to do it rather than ...
by Ron Ronnerson
Sat Jan 05, 2019 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: $40,000 in debt, bankruptcy seems to be the best option right now
Replies: 274
Views: 23537

Re: $40,000 in debt, bankruptcy seems to be the best option right now

When I was your age (12 years ago), I had credit card debt, spent all my savings on a car, and then got married to someone who also had credit card debt. We celebrated our honeymoon in Greece and one-year anniversary in Paris. We had $40k of credit card debt at that point. Then my wife and I both wo...
by Ron Ronnerson
Fri Jan 04, 2019 11:40 am
Forum: Personal Finance (Not Investing)
Topic: What Do You Spend The Most On Annually?
Replies: 158
Views: 8479

Re: What Do You Spend The Most On Annually?

Mid-40s in Bay Area. I'm a teacher and my wife stays at home with our young kid. Our gross Income is $115k. Retirement: 37% Housing: 33% (includes mortgage, property taxes, HOA, repairs) Groceries/Household items: 9% Insurance: 6% (health, auto, homeowner's, umbrella, life) Transportation: 3% (gas, ...
by Ron Ronnerson
Thu Jan 03, 2019 11:11 pm
Forum: Personal Investments
Topic: You're smarter than me, so...
Replies: 16
Views: 4251

Re: You're smarter than me, so...

Thanks for all the info Ron! It's helpful hearing from another teacher. You're the 2nd person in this post who has said not to mess with "other" types of funds. I'm still fairly new to all this responsible adult stuff, so I'm still figuring out what my investment plan is. But based on the feedback ...
by Ron Ronnerson
Thu Jan 03, 2019 7:21 pm
Forum: Personal Investments
Topic: You're smarter than me, so...
Replies: 16
Views: 4251

Re: You're smarter than me, so...

I have some things in common with you. Specifically: similar income, also a CalSTRS member planning to retire at age 61 with a good pension, identical mortgage rate, and my wife is (mostly) a stay-at-home parent as well. Your asset allocation seems fine considering your age, amount of current invest...