Search found 1036 matches

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: 258
Views: 20153

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: 8226

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: Investing - Help with Personal Investments
Topic: You're smarter than me, so...
Replies: 16
Views: 4184

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: Investing - Help with Personal Investments
Topic: You're smarter than me, so...
Replies: 16
Views: 4184

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...
by Ron Ronnerson
Wed Jan 02, 2019 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

While it is alway good to re-evaluate spending from time to time so that you are not needlessly wasting money, there was no need for you to give up anything in your budget as far as I can see. Keep the cleaner if it pleases you, there is NO reason not to. Of course keep your beloved pets, stay in t...
by Ron Ronnerson
Wed Jan 02, 2019 11:31 am
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

I realize that you have probably already come close to solving your problem, but I just wanted to put my vote in that if my wife were a stay-at-home mom and we were living on 64k a year, we wouldn't have a cleaning service. I can equally say if I were a stay-at-home dad and we were living on 64k a ...
by Ron Ronnerson
Wed Jan 02, 2019 12:53 am
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

Ron, glad to hear that the cat food suggestion was helpful. I still think you can spend less than $500 per month, though. ;) One way we've continued to maximize our budget is to set small, incremental goals. Now that you're hitting $500 per month, aim for $450 next month, and lock that in over 2-3 ...
by Ron Ronnerson
Tue Jan 01, 2019 9:48 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

I didn't see this in the first 2 pages: is the silly $400 of savers credit really worth this pain anxiety? You aren't willing to cut housekeeping or cable so I would loose this credit In your shoes. In which case I think you looked at family of 2 and not 3, my quick Google search (very fast didn't ...
by Ron Ronnerson
Tue Jan 01, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

Don't let the haters get to you. It's not gaming the system. If the legislature didnt want you to do it they wouldn't make it possible. Strong work Ron. DA Thanks, DA. We're all trying to do it in one way or another. We're above the phaseout for Roth IRA, American Opportunity Credit, and our depend...
by Ron Ronnerson
Tue Jan 01, 2019 7:53 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

Frankly I would not change much and try to make your life uncomfortable for what is a few bucks in the scheme of life. The budget for the next two years is a minor issue in one's life. Obviously you don't know what life will bring or how long you will live. However, if you and your wife planned to ...
by Ron Ronnerson
Tue Jan 01, 2019 7:27 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

Devil's Advocate wrote:
Tue Jan 01, 2019 7:08 pm
Don't let the haters get to you. It's not gaming the system. If the legislature didnt want you to do it they wouldn't make it possible.

Strong work Ron.

DA
Thanks, DA.
by Ron Ronnerson
Tue Jan 01, 2019 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

There’s an option that you don’t seen to have considered. Stop trying to game the system. You make $120K; not $64K. You are contorting your income to qualify for a need-based subsidy that (according to the letter of the law) you don’t need. Cutting expenses to live within your means is laudable, an...
by Ron Ronnerson
Tue Jan 01, 2019 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

-I work 180 days a year ... and here is the problem I agree it’s a lot but I’ve got bills to pay. :) Seriously, though, I’m a teacher and that’s the schedule. Summer school would pay around $4k before taxes so it doesn’t seem like a good trade off to give up summer break for 3-4% more pay. Anyhow, ...
by Ron Ronnerson
Tue Jan 01, 2019 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

I don't live in California, but how in the world do you get off with state income taxes of only $15/month? And if your wife stays at home, why do you need a house cleaner? I think I've over-estimated California taxes a bit. I believe they should be under $10/month. Gross income of $115k minus $51k ...
by Ron Ronnerson
Tue Jan 01, 2019 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Expenses > 2019 Income – Help us close the gap
Replies: 128
Views: 7791

Re: 2019 Expenses > 2019 Income – Help us close the gap

UPDATE on 1/1/19 from OP It’s been two months and I’ve implemented several of the suggestions that were offered. I can’t thank the community here enough for all the feedback. Additionally, I came up with some ideas of my own to help close the gap so that our 2019 expenses do not exceed 2019 MAGI. H...
by Ron Ronnerson
Mon Dec 31, 2018 11:51 pm
Forum: Investing - Help with Personal Investments
Topic: Asset allocation for almost 44 year old
Replies: 13
Views: 1677

Re: Asset allocation for almost 44 year old

I turned 44 recently and am currently at 77% equities. I think your asset allocation is reasonable as long as you expect to work at least another 15 years. I don’t think you’re being too conservative.
by Ron Ronnerson
Mon Dec 31, 2018 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

Look for a private landlord show them you have 12k in your checking account. They will be happy to get you. This was my thought too. Except seems OP's FIL wants that particular apartment. Yes, he wanted this particular apartment. The rent is very reasonable and location would be close to family. Ho...
by Ron Ronnerson
Sun Dec 30, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

You don't mention you MIL, so I assume she is not in the picture. The benefit for a single man is less, so I'd take SS. If an annuity is not an option, a possible creative solution to turn assets into income would be: He gives you $14K and your wife this year and just after the beginning of the yea...
by Ron Ronnerson
Sun Dec 30, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

Thanks for the responses, everyone. My wife spoke with her dad last night and they began working on a plan to show income generation that could prove useful down the line. Also, we got an email response back from the apartment about why bank statements are listed as an option of acceptable documenta...
by Ron Ronnerson
Sun Dec 30, 2018 10:36 am
Forum: Investing - Theory, News & General
Topic: HCOL Real Estate as Retirement? Bay Area
Replies: 44
Views: 2590

Re: HCOL Real Estate as Retirement? Bay Area

We’re saving for retirement in retirement accounts. We bought our Bay Area home in 2009. While we are not relying on it for retirement, it might give us options if, for some reason, we end up needing access to more money in the years ahead. We’re optimistic that we won’t need to tap into home equity...
by Ron Ronnerson
Sat Dec 29, 2018 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

My guess is they are looking for signs of liquid assets. Not total assets. If the bank statements you provided show more than 3600 going in every month they would probably be happy. That along with a good credit rating should have done the trick. Does he have an account showing money coming in ever...
by Ron Ronnerson
Sat Dec 29, 2018 5:22 pm
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 903
Views: 232570

Re: What is your Year 2018 networth change?

Close to flat. Home equity went up and investments went down. Net worth is virtually the same as it was a year ago.
by Ron Ronnerson
Sat Dec 29, 2018 4:07 pm
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

Thanks for the responses. We're not taking it personally, but are just perplexed that they wouldn't be willing to accept the bank statements as proof of ability to pay rent. Their own disclosure lists bank statements as an option for unemployed individuals. We sent them an email asking why that is l...
by Ron Ronnerson
Sat Dec 29, 2018 3:32 pm
Forum: Local Chapters and Bogleheads Community
Topic: My favorite Boglehead posters
Replies: 142
Views: 8031

Re: My favorite Boglehead posters

sscritic
Watty
by Ron Ronnerson
Sat Dec 29, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

Thanks for the responses, everyone. I'll answer some of the questions/points that have been brought up. He doesn't want to buy a property right now. He's not certain where he'd like to spend the years ahead and wants freedom. An apartment would provide sort of a "home base." He has considered filing...
by Ron Ronnerson
Sat Dec 29, 2018 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Re: Father-in-law denied apartment for lack of income even though he has assets. What to do?

DanMahowny wrote:
Sat Dec 29, 2018 1:54 pm
Pre-pay?
He offered to do that for the entire 12-month lease. They said that isn't allowed.
by Ron Ronnerson
Sat Dec 29, 2018 1:52 pm
Forum: Personal Finance (Not Investing)
Topic: Father-in-law denied apartment for lack of income even though he has assets. What to do?
Replies: 77
Views: 7585

Father-in-law denied apartment for lack of income even though he has assets. What to do?

Up until recently, my father-in-law, age 66, had been taking care of his father. He had been living in my wife's grandfather's home for many years. My wife’s grandfather passed away a few months ago at age 99, the house was sold, and my father-in-law has been traveling the past few months. He is now...
by Ron Ronnerson
Fri Dec 28, 2018 9:01 am
Forum: Personal Consumer Issues
Topic: What common everyday inconvenience have you intentionally suffered for frugality?
Replies: 152
Views: 9279

Re: What common everyday inconvenience have you intentionally suffered for frugality?

I’ve learned to do without things many people consider necessary such as sunglasses, shaving cream, a/c and heating. I cut my own hair, carpool to work, and eating out for our family of three means splitting a large Subway sandwich that we buy for $6 using a coupon. Vacations are paid for with point...
by Ron Ronnerson
Tue Dec 25, 2018 11:57 am
Forum: Personal Finance (Not Investing)
Topic: Working Holidays for extra money.
Replies: 64
Views: 4541

Re: Working Holidays for extra money.

If the option were available to me, I’d work on holidays for 2.5 times pay. At that rate, I’d work as many hours as I could on as many holidays as I could. I have plenty of other days off to spend with family, though, so that would factor into the decision for me.
by Ron Ronnerson
Mon Dec 24, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Help with California Withholdings/Allowances
Replies: 6
Views: 362

Re: Help with California Withholdings/Allowances

My wife recently stopped working and our tax liability for California state income taxes for 2019 should be lower than it has been in the past and I’m not sure how much I can and should adjust withholdings. We’re married with one child (age 4). Our expected numbers (approximate) for 2019: My gross ...
by Ron Ronnerson
Sun Dec 23, 2018 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Help with California Withholdings/Allowances
Replies: 6
Views: 362

Re: Help with California Withholdings/Allowances

My wife recently stopped working and our tax liability for California state income taxes for 2019 should be lower than it has been in the past and I’m not sure how much I can and should adjust withholdings. We’re married with one child (age 4). Our expected numbers (approximate) for 2019: My gross ...
by Ron Ronnerson
Sun Dec 23, 2018 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Help with California Withholdings/Allowances
Replies: 6
Views: 362

Help with California Withholdings/Allowances

My wife recently stopped working and our tax liability for California state income taxes for 2019 should be lower than it has been in the past and I’m not sure how much I can and should adjust withholdings. We’re married with one child (age 4). Our expected numbers (approximate) for 2019: My gross i...
by Ron Ronnerson
Sun Dec 16, 2018 8:37 pm
Forum: Personal Consumer Issues
Topic: How much do you pay for cable/internet/cellphone
Replies: 95
Views: 5714

Re: How much do you pay for cable/internet/cellphone

AT&T U-Verse - U200 Package with two boxes and 100 mbps Internet: $125 (this includes tax) Cricket Wireless - two iPhones with 5 GB per month on each phone: $70 Total: $195* *Both of these bills are charged onto a Chase Ink credit card and earn 5x points. The points earned are then transferred to a ...
by Ron Ronnerson
Sat Dec 15, 2018 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Is this a good time to start paying extra on the mortgage?
Replies: 32
Views: 2132

Re: Is this a good time to start paying extra on the mortgage?

You could certainly do worse things than pay down a mortgage. If it is helps you sleep better, that's worth something. I have a 3% mortgage too but have a bit longer until retirement. I don't mind having a mortgage that's lower than my local rate of inflation and am taking my time paying it off. How...
by Ron Ronnerson
Sat Dec 15, 2018 7:08 pm
Forum: Investing - Theory, News & General
Topic: What Happened to you during the Financial crisis of 2007–2008
Replies: 249
Views: 20284

Re: What Happened to you during the Financial crisis of 2007–2008

We were in our early 30s and didn't have much in our portfolios at the time. We were at 100% equities and the little bit that we had invested dropped a good amount. During that time, my wife stopped getting bonuses and raises and her employer didn't put anything toward her retirement. I was furlough...
by Ron Ronnerson
Sat Dec 15, 2018 12:52 pm
Forum: Personal Finance (Not Investing)
Topic: Obamacare (ACA) Ruled Unconstitutional by Texas Federal Court
Replies: 190
Views: 14485

Re: Obamacare (ACA) Ruled Illegal by Texas Federal Court

My actionable question is whether I should try to switch my 2019 ACA application to using the advance premium tax credits. For the past two years, I've been paying the full premiums out of pocket and collecting the subsidy in my tax return. Partly because the California site was so screwed up, and ...
by Ron Ronnerson
Mon Dec 10, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: ACA - prove you don't have income
Replies: 22
Views: 3139

Re: ACA - prove you don't have income

So, instead, he loaded the one document under just my name and the request for income verification dropped off for all of us a couple of weeks later. The Covered California system was unclear to us so it was good to have some hand-holding. Ron, On that one document, did you list your and your spous...
by Ron Ronnerson
Sun Dec 09, 2018 3:46 pm
Forum: Personal Finance (Not Investing)
Topic: ACA - prove you don't have income
Replies: 22
Views: 3139

Re: ACA - prove you don't have income

We received a request for documentation of income as well in California. An agent was very helpful in navigating the process and advised us to enroll as early as possible to allow enough time to deal with whatever issues that might arise. We ended up getting a request for income verification for eac...
by Ron Ronnerson
Sun Dec 09, 2018 11:03 am
Forum: Personal Consumer Issues
Topic: Teachers, Professors, and others with lots of vacation days: what do you do in the summer?
Replies: 49
Views: 4331

Re: Teachers, Professors, and others with lots of vacation days: what do you do in the summer?

I’m a teacher in the Bay Area and work 180 days. My wife is a stay-at-home parent and we have a four-year-old. We take a vacation during spring break each year. Winter breaks are spent doing stuff for the holidays and taking care of errands. During the summer, we take a vacation or two but are mostl...
by Ron Ronnerson
Mon Dec 03, 2018 8:29 pm
Forum: Investing - Theory, News & General
Topic: Older Dads - how do you plan for your own retirement while still raising kids?
Replies: 38
Views: 5179

Re: Older Dads - how do you plan for your own retirement while still raising kids?

My wife and I are both 44 years old and we have a four-year-old kid. I’m a public school teacher in Silicon Valley and my wife is a stay-at-home parent at this time. Our approach is to minimize expenses in order to maximize time together as a family. Basically, the less money we need to live, the le...
by Ron Ronnerson
Sun Dec 02, 2018 11:50 am
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5937

Re: Saving for Retirement when one has a Pension

We are in the 12% bracket and I pay 0 federal tax due to a combination of a tIRA, my pension contribution, and 403(b) space as well as the savers credit afforded based on the above. Also helps to have two kids to write off as well. ;) -TheDDC It's quite something how much taxes can go down when con...
by Ron Ronnerson
Sun Dec 02, 2018 11:38 am
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5937

Re: Saving for Retirement when one has a Pension

Youngsters: Save and invest 30% of after tax income regardless of your pension situation. Building up home equity (and of course your in-company pension contributions) can be counted within the 30%, though not mortgage interest or purchasing a consumable like a car. You will quickly get used to the...
by Ron Ronnerson
Thu Nov 29, 2018 11:32 am
Forum: Personal Finance (Not Investing)
Topic: The "lure" of working from home vs getting a better job
Replies: 20
Views: 2128

Re: The "lure" of working from home vs getting a better job

Jumping ahead here, but getting a new job would most certainly require me to commute approx 45-75 mins each way. My current commute (before the shut down) was 25-30 mins, 3 days a week. Bay Area, CA traffic. ...I don't have kids, if that matters, and moving is not an option for now. Any advice? Tha...
by Ron Ronnerson
Sun Nov 25, 2018 11:01 am
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5658

Re: How to tax brackets work?

Ron, I would like to see the numbers if you don't mind. I get how maxing out all their 403B and 457B plus standard deductions could put them down into the 12% marginal bracket, but wouldn't their effective tax rate be somewhere higher than 0% but less than 12%. Sure. My friend and his spouse are te...
by Ron Ronnerson
Sat Nov 24, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5658

Re: How to tax brackets work?

The entire income is not taxed at the rate of the bracket one happens to be in - just the amount above the cut-off. However, deductions and credits can greatly reduce taxes owed. You asked about a married couple with an income of $165,001. It matters if this is gross income, adjusted gross income, ...
by Ron Ronnerson
Fri Nov 23, 2018 1:18 am
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5658

Re: How do tax brackets work?

MNGopher wrote:
Thu Nov 22, 2018 11:29 pm
Oh OK, I hadn't thought that their entire insurance premiums would have been taken out of their salary like that. Wait until they turn 50 and can do catch-ups :D
Great point! :)
by Ron Ronnerson
Thu Nov 22, 2018 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: How do tax brackets work?
Replies: 37
Views: 5658

Re: How to tax brackets work?

The entire income is not taxed at the rate of the bracket one happens to be in - just the amount above the cut-off. However, deductions and credits can greatly reduce taxes owed. You asked about a married couple with an income of $165,001. It matters if this is gross income, adjusted gross income, ...