Search found 974 matches

by basspond
Wed May 23, 2018 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Need help with debt strategy
Replies: 45
Views: 1985

Re: Need help with debt strategy

First adhere to a barebones budget and keep your emergency fund balance between $1k-$2k. Second need to make sure your withholding taxes are a little less then what you owe. You want the government (us) to give you a no interest loan until your taxes are due next April. Third change from a Roth to a...
by basspond
Fri May 18, 2018 9:41 am
Forum: Investing - Help with Personal Investments
Topic: Paid off our school loans, e fund, and now what?!
Replies: 14
Views: 1150

Re: Paid off our school loans, e fund, and now what?!

15 year mortgage on new house
Don’t tie yourself to a 2nd house. Adds a lot of expenses to maintain two households.
Open Roth if you can.
Don’t look for ways to spend the student loan payments.
by basspond
Fri May 18, 2018 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Best use of inherited assets to get to retirement soon
Replies: 7
Views: 1272

Re: Best use of inherited assets to get to retirement soon

From my personal experience I would pay off the house before retiring. I would sell your 50% stake in the inherited house. I have had dual ownership agreements and the emotional stress it adds outways any other benefit you might have or perceive.
by basspond
Tue May 15, 2018 6:51 am
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 7507

Re: Can a <median household save 1 year of expenses every year?

If the stars are aligned, it is possible. House paid off and no other debt, contribute max to 401k, generous company health care and life insurance subsidy, Children involved with inexpensive activities, don’t eat out, don’t drink or smoke, volunteer so you are not spending money for entertainment, ...
by basspond
Sun May 06, 2018 4:56 pm
Forum: Investing - Help with Personal Investments
Topic: Help with in-laws investment- 100% in stocks with 5 years left to retire
Replies: 46
Views: 2990

Re: Help with in-laws investment- 100% in stocks with 5 years left to retire

As long as one individual stock doesn’t make up more then 10% of their portfolio and they are using less then 3% of their balance for living expenses.
by basspond
Sun May 06, 2018 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Elder Care Advice
Replies: 26
Views: 2109

Re: Elder Care Advice

I would get home assistance as soon as possible before your mom gets burnt out. My mom took care of dad (dementia/Alzheimer’s) for three years before she got some help once a week and then bumped up to 4 times a week a couple of months before he passed. I could tell the help made her less stressed a...
by basspond
Thu May 03, 2018 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Moving to The Woodlands,TX
Replies: 49
Views: 5687

Re: Moving to The Woodlands,TX

Please only comment on facts. Houston had two snow "events" this past winter. We don't have to shovel though. Main concern is bridges icing over which probably happens every other year but normally doesn't last for more than a day. HAHA. A snow "event" is not a snowstorm. Do even live in Houston? I...
by basspond
Wed May 02, 2018 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Moving to The Woodlands,TX
Replies: 49
Views: 5687

Re: Moving to The Woodlands,TX

No snow, no state income tax, comparitavely low real estate prices. I wouldn't count on the no snow part -- I've been stuck at DFW during a snowstorm. Northern TX will get pretty cold and regular snow/ice. I will not expect it in the Houston metro area at all. Never seen snow in the past 15 years. ...
by basspond
Tue May 01, 2018 3:13 am
Forum: Personal Finance (Not Investing)
Topic: Moving to The Woodlands,TX
Replies: 49
Views: 5687

Re: Moving to The Woodlands,TX

joyceg2797 wrote:
Mon Apr 30, 2018 8:19 am
A few other things to consider:
1) Fire ants
2) Some of the best birding in the country
There is an office building that has a front row seat to a nesting pair of bald eagles.

Yes the summer has hot days but I can play golf or fish almost everyday of the year.
by basspond
Thu Apr 26, 2018 10:19 am
Forum: Personal Finance (Not Investing)
Topic: Whole Life Policy
Replies: 29
Views: 2691

Re: Whole Life Policy

We setup a policy to cover at the time our mortgage and then kept it for diversification. We met with a financial planner about 7 years into it and was told it might be better to keep since it was starting to generate revenue. After 30 years our increase of surrender value is about double our premiu...
by basspond
Wed Apr 25, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: How much cash do you keep at any time on checking?
Replies: 183
Views: 14589

Re: How much cash do you keep at any time on checking?

Ours fluctuates between 5-20 thousand. It all depends if it is before or after contributions, taxes, insurance or tuition. But when we were younger it was between 3-6 months of basic living expenses.
by basspond
Wed Apr 25, 2018 10:43 am
Forum: Personal Consumer Issues
Topic: Is my computer obsolete?
Replies: 60
Views: 4251

Re: Is my computer obsolete?

I have noticed with IOS (Apple) devices they stop supporting operating systems for older devices. After several years the devices are very slow just to surf the internet. But if you are using it to only run desktop applications like Excel, Word, Access, you should be fine.
by basspond
Tue Apr 24, 2018 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Structuring Newlywed Finances for Fairness and Less Arguments
Replies: 84
Views: 6321

Re: Structuring Newlywed Finances for Fairness and Less Arguments

Over 30 years of marriage and always had joint accounts. We discuss purchases if over $100 and have similar spending habits but also have very different hobbies. If you have separate accounts you are forced to determine that one of you is worth more or less then the other. That is not a good foundat...
by basspond
Sun Apr 22, 2018 4:42 am
Forum: Personal Finance (Not Investing)
Topic: How much can mom spend on a house?
Replies: 11
Views: 1826

Re: How much can mom spend on a house?

She already has a house. It's just very far from the kids. Moving the house closer to the kids would make sense. If something happens, it's easier for the kids to help out. What is the guarantee that the kids won’t get up and move again? Need to evaluate her quality of life and what she would be gi...
by basspond
Sun Apr 22, 2018 4:33 am
Forum: Personal Finance (Not Investing)
Topic: Pension Freeze - What did you do?
Replies: 85
Views: 9400

Re: Pension Freeze - What did you do?

To me, this is somewhat inevitable. In the 1940's, life expectancy is about 63. Now, it is about 79. They have to put more money in, cut benefits, and/or raise retirement age. My personal view is that the only reliable pension is from the fed. The rest of us have to LBYM and save as much as possibl...
by basspond
Sun Apr 22, 2018 4:22 am
Forum: Personal Finance (Not Investing)
Topic: Am I on the right track?
Replies: 6
Views: 904

Re: Am I on the right track?

Reduce savings rate to 10% and put all in 403b, set a tight budget, and reduce emergency fund to $5k to pay off your student loans in 18 months or less. You will sleep a lot better and will have many more options when you get the student loans paid off. I just want to make sure I'm interpreting wha...
by basspond
Sat Apr 21, 2018 7:26 pm
Forum: Personal Finance (Not Investing)
Topic: Am I on the right track?
Replies: 6
Views: 904

Re: Am I on the right track?

Reduce savings rate to 10% and put all in 403b, set a tight budget, and reduce emergency fund to $5k to pay off your student loans in 18 months or less. You will sleep a lot better and will have many more options when you get the student loans paid off.
by basspond
Tue Apr 17, 2018 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Retire early. Do you think it is possible?
Replies: 33
Views: 3301

Re: Retire early. Do you think it is possible?

It will be hard to live on $2k a month with almost 1/2 in property tax. Utilities, maintenance, insurance, auto expenses, food, entertainment, medical/dental, kids activities, vacation will eat into the remaining $1,100 very quickly. It’s doable if your current portfolio doubles and you can save the...
by basspond
Sat Apr 07, 2018 6:18 am
Forum: Personal Finance (Not Investing)
Topic: Is Stock Market the only source of income in retirement ?
Replies: 21
Views: 2385

Re: Is Stock Market the only source of income

Have money coming in from the bond market. Will be cashing in a whole life policy. A little from being on a board (pays for my once a week golf) and less then that from CDs and bank accounts. I get fed a couple of times a month for volunteering. The other stuff (besides bonds) is not much, but as in...
by basspond
Sun Apr 01, 2018 8:56 pm
Forum: Personal Finance (Not Investing)
Topic: Retire at 55, what's the magic number
Replies: 90
Views: 10289

Re: Retire at 55, what's the magic number

Ours is 40x expenses. We have company subsidized healthcare but we also plan to leave a legacy.
by basspond
Wed Mar 28, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Healthy eaters -- is this grocery budget normal to you?
Replies: 247
Views: 13323

Re: Healthy eaters -- is this grocery budget normal to you?

I commend you for being health conscious, but that is a very steep monthly bill. Do you wash your vegetables using tap water? If you are then they are being leached with chlorine. There is an extreme to everything. Review the risk/benefits of your decisions.
by basspond
Wed Mar 28, 2018 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: How Do You Value Your Home for Net Worth Purposes?
Replies: 150
Views: 9594

Re: How Do You Value Your Home for Net Worth Purposes?

I used the value of the sale price of what we bought the house for at least 10 years. Equity in housing is an asset but in the end you will always need a place to live. I don’t pay much attention to net worth, more so to retirement accounts value.
by basspond
Wed Mar 28, 2018 4:02 pm
Forum: Local Chapters and Bogleheads Community
Topic: A lot of heavy hitters this morning
Replies: 244
Views: 18729

Re: A lot of heavy hitters this morning

Went to the store today and my favorite candy was on sale because they had too many of the Easter candy colors. Saved $15 and it should last most of the year. Don’t think that money just falls into most people’s laps. It is amazing the dollars you can save every day by being vigilant. And in the end...
by basspond
Sun Mar 25, 2018 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: When to Take Social Security (again...)
Replies: 62
Views: 5337

Re: When to Take Social Security (again...)

If SS is going to make over 40% of your income for expenses, then delay as long as possible. If not whenever.
by basspond
Sun Mar 11, 2018 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Something weird this day came
Replies: 22
Views: 2769

Re: Something weird this day came

I would treat as a scam/phish and would not respond.
by basspond
Fri Mar 09, 2018 10:56 am
Forum: Personal Finance (Not Investing)
Topic: BH's that are retired & mortgage free
Replies: 21
Views: 3099

Re: BH's that are retired & mortgage free

Mortgage free, retired before turning 56.

$ 300 - Company subsidized HMO (increase to $800 after DW retires) until 65 then Medicare
$1,000 - Vacation
$ 575 - Entertainment (including out to eat)
$4,000-Household (tax, insurance, food, gifts, charity, etc..)
$ 650 -Auto cars paid off
by basspond
Wed Mar 07, 2018 7:29 am
Forum: Personal Finance (Not Investing)
Topic: I suck with my finances. (I am from EU)
Replies: 13
Views: 1092

Re: I suck with my finances. (I am from EU)

Ditto for automatic savings. And don’t kid yourself, spending all of your money wothout saving anything is a bad habit, unless you are trying to clear massive debt. If that is the case focus on clearing that as soon as you can and look for small ways to cut expenses. Small things do add up.
by basspond
Wed Mar 07, 2018 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Should I "get divorced" for tax purposes (PSLF)
Replies: 57
Views: 3923

Re: Should I "get divorced" for tax purposes (PSLF)

There are a lot of hidden costs both financially and emotionally. If I was her dad I would send you a bill for the wedding. There are a lot of couples who got hit with the marriage penalty (including us). Why don’t you insist that your wife pawn her wedding ring to save a few bucks? It is good you a...
by basspond
Mon Mar 05, 2018 10:38 pm
Forum: Personal Finance (Not Investing)
Topic: Pickleball versus Tennis
Replies: 27
Views: 2684

Re: Pickleball versus Tennis

Whatever you choose make sure several sports can be played on it. Variety is the spice of life and will help it getting used.
by basspond
Sat Mar 03, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4210

Re: After Tax Savings Rate

We never had a set amount for after tax. We maxed out company savings plan at 20% with a 5% match. Able to retire in mid fifties. But we are very frugal and disciplined and every year it seems we were saving 10-20% extra. We opted to accelerate paying off our house and buying everything including ca...
by basspond
Tue Feb 27, 2018 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Pension "bridging" at Megacorp if laid off - is this common?
Replies: 3
Views: 813

Re: Pension "bridging" at Megacorp if laid off - is this common?

The reduction in pension seems right. Normally there is a percentage a year that your pension is discounted if you retire before your full retirement age. Let's assume the discount is 5%, which would mean your pension would be discounted a total of 25%. So 75% of you estimated pension of $1.3M at ag...
by basspond
Sun Feb 25, 2018 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Amica reocurring double digit increases in homeowners insurance
Replies: 37
Views: 3125

Re: Amica reocurring double digit increases in homeowners insurance

The 2nd year is explainable especially if you hit a different rate structure and if you have a flat $2500 deductible not one that is a percentage of coverage. The first year isn't unless it was a location wide increase. Do you factor in any rebates if you don't file any claims?
by basspond
Fri Feb 23, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Time for twins to go to daycare
Replies: 38
Views: 2847

Re: Time for twins to go to daycare

In your situation, what happens if one spouse can't come up with the $500? Will you have to return the child?
by basspond
Fri Feb 23, 2018 1:28 am
Forum: Personal Finance (Not Investing)
Topic: How am I really doing for retirement savings?
Replies: 45
Views: 4608

Re: How am I really doing for retirement savings?

miamivice wrote:
Wed Feb 21, 2018 11:02 am
My wife has grown tired of me complaining about us spending too much, if that means anything.
If you are saving more than 15% of you salary (not counting company match), you can throttle down to that. But do not finance anything unless it has 0% interest or less.
by basspond
Fri Feb 23, 2018 1:14 am
Forum: Personal Finance (Not Investing)
Topic: Small Personal Loans for Mixed Martial Arts Training
Replies: 34
Views: 2736

Re: Small Personal Loans for Mixed Martial Arts Training

You are setting yourself up for failure. Show discipline, do self workouts, and save the $1500 before starting. I have done stupid financial decisions in the past because of emotional ineptness. Don't fall into the trap and you will be better off financially and personally. Just look on YouTube for ...
by basspond
Thu Feb 22, 2018 1:32 pm
Forum: Personal Consumer Issues
Topic: [What UN-frugal thing do you do? What do you splurge on?]
Replies: 567
Views: 38053

Re: What UN-frugal thing do you do?

Fishing, golf, gambling, and more then two big vacations a year.
by basspond
Thu Feb 22, 2018 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Would you pay off this debt?
Replies: 60
Views: 2500

Re: Would you pay off this debt?

I would tighten my budget and speed up paying off debts with cash flow. This will also help you to prepare for reducing expenses in retirement. As you noted though as you go along your mortgage interest will be steadily decreasing. The longer you put off paying your mortgage the more interest you wi...
by basspond
Thu Feb 22, 2018 12:34 pm
Forum: Personal Finance (Not Investing)
Topic: Is a prenup required to establish a list of separate property before marriage?
Replies: 67
Views: 2663

Re: Is a prenup required to establish a list of separate property before marriage?

Get a pre-nup. The $1000 is nothing compared to what it might cost to fight out a divorce battle hashing out what is what someday... that could likely be avoided with a pre-nup... This is the issue with prenups. Everyone wants a clean out if the relationship "deteriorates". Our society wants to mak...
by basspond
Sat Feb 17, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Selling Timber
Replies: 37
Views: 2891

Re: Selling Timber

The price calculation based on price of lumber seems very reasonable. Standard oil leases are 20% and are not on a sliding scale. Make sure they harvest responsibly, you have a say in what areas can be harvested, and do site remediation.
by basspond
Sat Feb 17, 2018 10:44 am
Forum: Personal Finance (Not Investing)
Topic: How to get child's skin in the game for college?
Replies: 135
Views: 7187

Re: How to get child's skin in the game for college?

Unless you have been talking with your daughter about college finances along the way, 17 is a bit late to be laying the ground rules now. But since you are here whatever is decided make both parties agree what will be required of each. The point is the longer you wait the more a family decision feel...
by basspond
Tue Feb 13, 2018 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 17922

Re: Number at which to stop worrying

(110 - your age) x yearly expenses
by basspond
Sun Feb 11, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Help - why do I owe so much in taxes this year
Replies: 17
Views: 3592

Re: Help - why do I owe so much in taxes this year

I am assuming your wife increased he contributions and since she had only 1 deduction, withholdings for her for the year were substantially less. Plus there seems to be an issue with your payroll system. I would check with them to find out why your withholdings were changed. As far avoiding the $99 ...
by basspond
Thu Feb 08, 2018 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Finances Needed !!
Replies: 5
Views: 852

Re: Finances Needed !!

1. Currently $25K all in costs for one year.
2. 30x Expenses
3. If your spouse will still work: = 20x expenses - current retirement savings
4. After tax accounts after 401k/Roth were maxed out
by basspond
Thu Feb 08, 2018 12:00 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 288
Views: 21040

Re: free dinner investing seminar

Went to one or two and realized is was a schmooze tactic and that their clients were paying for my lunch.
by basspond
Wed Feb 07, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13252

Re: Am I saving too much for retirment?

You can never save enough unless you take it overboard and start dumpster diving. My suggestion is to max out your 401/Roth and also save in taxable accounts to pay for big ticket/emergencies with cash. It worked for us. Retired early and it's great not having to worry (too much) when the market dro...
by basspond
Sat Feb 03, 2018 8:39 am
Forum: Personal Finance (Not Investing)
Topic: How to think about your house from a financial perspective
Replies: 89
Views: 7051

Re: How to think about your house from a financial perspective

We would be still paying on our mortgage if we didn't refinance. Has been paid off for almost 10 years. House is less the 5% of our total net worth so it is just an after thought. To us it is a home, not an instrument.
by basspond
Sat Feb 03, 2018 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Do you live on a budget?
Replies: 65
Views: 3754

Re: Do you live on a budget?

We have a specific amount to save and give, but no other budget. It helps that we are penny pinchers.
by basspond
Thu Jan 25, 2018 3:45 pm
Forum: Investing - Theory, News & General
Topic: 401k millionaires
Replies: 158
Views: 24533

Re: 401k millionaires

All you have to do is start young and stay the course. It worked for me. 39 years of work, and saving, with an average salary of around $60k. Closer to $2M then $1M.
by basspond
Sat Jan 20, 2018 8:24 am
Forum: Investing - Theory, News & General
Topic: 10 years expenses in FI
Replies: 49
Views: 5205

Re: 10 years expenses in FI

It does seem that all this scheming inflames a lot of anxiety. On the other hand I know people who don't want to look at finances because they are afraid of what they will discover. I am not a big planner, except for finances, and it has been very beneficial for us. The anxiety is also triggered by...