Search found 1224 matches

by basspond
Fri Sep 20, 2019 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads in Oil and Gas?
Replies: 37
Views: 2704

Re: Bogleheads in Oil and Gas?

A good way to see if your coworkers are Bogleheads is to look at Brightscope to see how plan participants are saving compared to other companies. I worked in the profession and was able to retire within days of my earliest retirement eligibility. Yes there was anxiety, but I guess I was too confiden...
by basspond
Fri Sep 20, 2019 7:45 am
Forum: Personal Finance (Not Investing)
Topic: Downsizing House to Apartment
Replies: 8
Views: 1028

Re: Downsizing House to Apartment

Sell your house, rent in a similar type apartment for year, and put your other furniture in storage. If you like the lifestyle then get your new digs and divest the furniture you don’t need. All of the furniture we have divested went to relatives or friends, either for free or minimal cost. So many ...
by basspond
Fri Sep 20, 2019 7:38 am
Forum: Personal Finance (Not Investing)
Topic: Parents portion of college loan
Replies: 8
Views: 746

Re: Parents portion of college loan

Take out half this year the other half next year.
by basspond
Fri Sep 20, 2019 7:18 am
Forum: Personal Finance (Not Investing)
Topic: How do you spend money to gain time? (young family)
Replies: 140
Views: 8587

Re: How do you spend money to gain time? (young family)

We give regular to our religious organization. It helps us to prioritize or cut out stuff in our lives that were not meaningful and fulfilling which has given us more quality time together and still enjoy the things that matter most to us.
by basspond
Wed Sep 18, 2019 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Plan for 2 Incomes to 1 and Mortgage Payoff
Replies: 15
Views: 1047

Re: Plan for 2 Incomes to 1 and Mortgage Payoff

One of us was able to work part time until the kids were 16. It was somewhat easier when both started grade school, just in the summers we had to do creative vacations and baby sitting. Before kids we were able to refinance to 15 years so a couple of years before college the house was paid. Just soc...
by basspond
Sun Sep 15, 2019 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: Would you spend an extra day a week for 1 year working for a luxury
Replies: 27
Views: 2397

Re: Would you spend an extra day a week for 1 year working for a luxury

Not a chance. You cannot work an extra day a week to make up for that time lost. Watch the movie Click if you need more convincing.
by basspond
Sun Sep 15, 2019 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: What does “Stay the Course” mean exactly?
Replies: 35
Views: 2957

Re: What does “Stay the Course” mean exactly?

In the simplest explanation it derives from nautical situations. So keep to your plan no matter what outside forces are exerting to deviate from them. There are more dangerous obstacles if you don’t.
by basspond
Sun Sep 15, 2019 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Mobile Check Question
Replies: 15
Views: 1258

Re: Depositing Mobile Check Question

We only use one account to deposit outside checks to then transfer money from that account to others if the need arises.
by basspond
Tue Aug 27, 2019 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Anyone retire in their 30s?
Replies: 108
Views: 13731

Re: Anyone retire in their 30s?

I didn’t retire in my 30’s(mid 50’s for me) but in my early twenties my goal was to retire when I did. You need to find something outside of work that has meaning. It will be difficult to get any real personal satisfaction if all you have is work.
by basspond
Mon Aug 26, 2019 2:35 pm
Forum: Personal Finance (Not Investing)
Topic: Marrying earlier for insurance/finances?
Replies: 39
Views: 2885

Re: Marrying earlier for insurance/finances?

You say you don’t want to ruin the romance yet you put the most romantic decision of your life on hold because of school! If he is the one marry him if it’s taking you more than 2 years then he might not be the one. Just think of the wasted time and emotional energy you have sacrificed for this rela...
by basspond
Fri Aug 23, 2019 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Anybody else enjoy sitting around and doing little in retirement?
Replies: 70
Views: 8108

Re: Anybody else enjoy sitting around and doing little in retirement?

Volunteering has been more satisfying and fulfilling then any job I had. Only do it about once a week. But I also play golf, fish, tennis, workout, take care of the house, and some DIY projects. I do watch more TV (DVR them) but more of the science and reality shows. I don’t know how I had enough ti...
by basspond
Tue Aug 20, 2019 4:26 am
Forum: Personal Finance (Not Investing)
Topic: Is my advice to my cousin correct ? [OK to spend, not save, extra income]
Replies: 32
Views: 3662

Re: Is my advice to my cousin correct ?

I tell my widowed mom she needs to spend more but she is very content with her lifestyle. There is a sense of loss when someone has lost their lifelong soul mate that plays into spending. If she doesn’t feel comfortable suggest she setup a separate account for emergencies. When that has several mont...
by basspond
Mon Aug 19, 2019 7:22 am
Forum: Personal Finance (Not Investing)
Topic: Are we financially okay?
Replies: 64
Views: 8235

Re: Are we financially okay?

Are we financial secure as long as my income stream is steady? What are your suggestions to be more financially secure? Yes, you are financially secure. Payoff mortgage In under 5 years and work on budget so your yearly negative position is no more then $80k. Do not break the bank on children’s col...
by basspond
Sun Aug 18, 2019 5:25 am
Forum: Personal Finance (Not Investing)
Topic: How to define "HCOL" (high cost of living) areas?
Replies: 79
Views: 4685

Re: How to define "HCOL" (high cost of living) areas?

I would base it on housing prices which makes up the majority of one’s household expenses. If the cost is over $250 per square foot I would call that HCOL. And almost every city has an area where the average price exceeds that amount. If 250$ is HCOL< how come you have places at 4-5-8X this price? ...
by basspond
Sun Aug 18, 2019 5:15 am
Forum: Personal Consumer Issues
Topic: Aliens have captured my husband [wants to buy a Porsche]
Replies: 138
Views: 10527

Re: Aliens have captured my husband [wants to buy a Porsche]

Have him make a list of why he wants it. If to impress others or similar answer is in the top 5 I would advise against it. If not go for it!
by basspond
Sat Aug 17, 2019 4:19 am
Forum: Personal Finance (Not Investing)
Topic: How to define "HCOL" (high cost of living) areas?
Replies: 79
Views: 4685

Re: How to define "HCOL" (high cost of living) areas?

I would base it on housing prices which makes up the majority of one’s household expenses. If the cost is over $250 per square foot I would call that HCOL. And almost every city has an area where the average price exceeds that amount.
by basspond
Tue Aug 13, 2019 7:04 am
Forum: Personal Finance (Not Investing)
Topic: Buying a car, does it make sense to use 401k loan instead of an auto loan?
Replies: 37
Views: 2576

Re: Buying a car, does it make sense to use 401k loan instead of an auto loan?

Never take out a 401k loan. I have never understood the logic that you are paying yourself back. The truth is your interest payments will be part of everyone’s cash balance return in the plan, which you would be getting even if you didn’t take out a loan. If you are worried about draining your reser...
by basspond
Thu Aug 08, 2019 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 329
Views: 26491

Re: Social Security -- Take it at 62, 67 or 70

Everyone has their own personal reason to take at a certain age. Here is just more information to make that decision: Life expectancy at different ages: (Kaiser Family Foundation) Age Men Women Birth - 76.1 - 81.1 40 - 78.7 - 82.6 65 - 83.0 - 85.6 80 - 88.4 - 89.7 Disclaimer: Past performance is no ...
by basspond
Mon Aug 05, 2019 7:20 am
Forum: Personal Finance (Not Investing)
Topic: Are we considered House poor?
Replies: 21
Views: 3466

Re: Are we considered House poor?

Depends on how much you are saving for retirement. If over 20% then you are not and will not be house poor. When we first started out our house was 2/3 of our assets. Now thirty years later it is less then 5%.
by basspond
Mon Aug 05, 2019 7:12 am
Forum: Personal Finance (Not Investing)
Topic: Financial anxiety and next steps in relationship
Replies: 102
Views: 7406

Re: Financial anxiety and next steps in relationship

Reality overrides biology. Agree to get married soon, not buy a house, and to not even think about having children until the student loan is cleaned up. I wouldn't use over 50% of your combined taxable savings to throw at the debt. Good luck.
by basspond
Fri Aug 02, 2019 6:14 am
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 329
Views: 26491

Re: Social Security -- Take it at 62, 67 or 70

I find it funny that when people are talking about claiming SS benefits, they portray their remaining life expectancy as being very short. But when people talk about safe withdrawal rates, they portray themselves living to age 95 or older. :D After having read a lot about this issue, my conclusion ...
by basspond
Thu Aug 01, 2019 9:00 pm
Forum: Personal Investments
Topic: Pay off $17k student loan or max out 401k this year?
Replies: 48
Views: 3249

Re: Pay off $17k student loan or max out 401k this year?

Have a schedule to pay off the loan in under 2 years while getting the match.
by basspond
Thu Aug 01, 2019 6:38 am
Forum: Personal Finance (Not Investing)
Topic: Why won’t anyone hire me?
Replies: 156
Views: 15099

Re: Why won’t anyone hire me?

Your age and not having a degree could be limiting your possibilities. Having above average skills in spreadsheets, scheduling, database, and document/writing software would be a big asset. Also look at schools. I know several ladies who volunteered a lot at public schools and eventually got a full ...
by basspond
Thu Aug 01, 2019 6:29 am
Forum: Investing - Theory, News & General
Topic: A most curious question ... [What is target % of net income needed for retirement?]
Replies: 27
Views: 2917

Re: A most curious question ... [What is target % of net income needed for retirement?]

Here is the bare minimum formula I would use:

Savings Rate = 15% - .5 x (your required pension contribution - 6.25%)

Realizing when you turn 50 you will yearly max out the catchup rate.
by basspond
Wed Jul 31, 2019 11:34 pm
Forum: Personal Finance (Not Investing)
Topic: Wife (teacher) and I are trying for a baby. What are some "must-knows" and other tips?
Replies: 122
Views: 8987

Re: Wife (teacher) and I are trying for a baby. What are some "must-knows" and other tips?

Wear boxers
Get off birth control for several cycles before attempting

Good luck.
by basspond
Wed Jul 31, 2019 11:19 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 329
Views: 26491

Re: Social Security -- Take it at 62, 67 or 70

We will be taking at 62. We both have similar work history. Remember the government figures that on average the amount will be the same for whatever time you decide to take. The surviving spouse from age 82 to 97 won’t give a flip about average dollars. They may very well wish that one of you had w...
by basspond
Wed Jul 31, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security -- Take it at 62, 67 or 70
Replies: 329
Views: 26491

Re: Social Security -- Take it at 62, 67 or 70

We will be taking at 62. We both have similar work history. Remember the government figures that on average the amount will be the same for whatever time you decide to take.
by basspond
Wed Jul 31, 2019 8:13 am
Forum: Personal Finance (Not Investing)
Topic: 30-yeard old couple getting ready to get married -- how are we doing? What are we missing?
Replies: 5
Views: 1241

Re: 30-yeard old couple getting ready to get married -- how are we doing? What are we missing?

All expenses in marriage are joint so all accounts should be joint Pay off all debts before ramping up savings rate Setup term and possibly disability insurance policies Use this time before children to setup household (including buying a house) and extra savings Write a household financial statemen...
by basspond
Tue Jul 30, 2019 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirees - what's your spending like?
Replies: 36
Views: 4194

Re: Early retirees - what's your spending like?

Savings 40+ x of expenses with no mortgage
Actual Retirement Spending <20 x
Savings = -30%
Taxes = -15% (SS,Medicare,Income tax)
DIY = - 2%
Travel = + 3%
Charity = - 5%

*Percent of non-retirement expenses
by basspond
Sun Jul 28, 2019 3:37 pm
Forum: Personal Consumer Issues
Topic: Hawaii in August
Replies: 31
Views: 2509

Re: Hawaii in August

We have been to two. Maui (twice) and Kauai. With a small one I would recommend Maui. Kauai is very nice but a lot of the most interesting things to do is hiking and with a small one might be more difficult. Maui has a lot of sights just off the road and more accessible. We stayed north of Weilea th...
by basspond
Sat Jul 27, 2019 7:19 am
Forum: Personal Finance (Not Investing)
Topic: DAF for church offering? [Donor Advised Fund]
Replies: 71
Views: 8900

Re: DAF for church offering? [Donor Advised Fund]

We prepay our tithes every other year to maximize our itemized deductions. Last year was the first year we did appreciated assets. Had a couple of hiccups for the transfer but in the end it was done very quickly.. Financial advisor didn’t charge us any fees since it was a transfer and not a sale.
by basspond
Sat Jul 27, 2019 7:10 am
Forum: Personal Finance (Not Investing)
Topic: NJ state paychecks for the fiscal 2019 is flawed!
Replies: 15
Views: 1196

Re: NJ state paychecks for the fiscal 2019 is flawed!

If you don't make this adjustment, then every 14 years you get an extra pay check, 27 instead of 26 in that year, as the extra days accumulate. I am different employers handle this differently. My ex-employer simply paid everyone more in those years. That is why most employees pay twice a month. Bi...
by basspond
Sat Jul 27, 2019 7:02 am
Forum: Personal Finance (Not Investing)
Topic: How much to save?
Replies: 53
Views: 4728

Re: How much to save?

I would save 20% but count half of your pension “contribution” over 6.2% as part of your savings. Us regular folk don’t offset our SS contribution.
by basspond
Wed Jul 24, 2019 8:32 am
Forum: Personal Finance (Not Investing)
Topic: Feel like we are spinning our wheels (financially speaking). How far behind are we?!
Replies: 63
Views: 6504

Re: Feel like we are spinning our wheels (financially speaking). How far behind are we?!

Y’all are way ahead of the game. It appears you are more frustrated more so because of wanting to own a home and I am guessing starting a family. I never believed in budgeting, we just lived off of what was left after our giving and saving at least 25% , but in your case you need to see where your m...
by basspond
Sun Jul 14, 2019 7:09 pm
Forum: Personal Finance (Not Investing)
Topic: Financing my daughter's college with my 401K
Replies: 60
Views: 3849

Re: Financing my daughter's college with my 401K

You might have the option of a 401k loan. You have 5 years to pay it back and you pay interest to yourself. Drawback is it kills your compounding growth and you would still need to be able to cash flow the payments. I have never understood this logic that you should take a 401K loan because you are...
by basspond
Thu Jul 11, 2019 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Voya Financial roll over process
Replies: 8
Views: 768

Re: Voya Financial roll over process

Mine was sent directly to my FA. It was less then a week and luckily for me the market went down 1% from the time the check was cut to when I got back into the market.
by basspond
Wed Jul 10, 2019 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Does saving 20% towards retirement starting in your twenties allow you to retire early?
Replies: 144
Views: 14226

Re: Does saving 20% towards retirement starting in your twenties allow you to retire early?

I started at 6% to get company match. By the time I was around 30 and after marriage it had increased to 20%. Retired comfortably at 55.
by basspond
Wed Jul 10, 2019 7:01 am
Forum: Personal Consumer Issues
Topic: Who cuts your hair? And for how much?
Replies: 153
Views: 9089

Re: Who cuts your hair? And for how much?

Barber shop $20 which includes tip.
by basspond
Fri Jul 05, 2019 5:35 am
Forum: Personal Finance (Not Investing)
Topic: At What Age or Point in your Career did your investments start outweighing your regular paychecks?
Replies: 85
Views: 11597

Re: At What Age or Point in your Career did your investments start outweighing your regular paychecks?

Early-mid forties, we are now in our mid 50s. But buyer beware. In fourth quarter of 2018 our “paper loses” out stripped our yearly income but then in 1st quarter of 2019 the gains were higher then our entire salary.
by basspond
Tue Jun 25, 2019 5:59 am
Forum: Personal Finance (Not Investing)
Topic: How did you lower your annual expenses?
Replies: 145
Views: 13561

Re: How did you lower your annual expenses?

Back in the day we stopped subscriptions, cable, ate out less, DIY projects, refinanced house to 15 years, avoid toll rolls, we are not coffee drinkers, don’t order drinks when we eat out, have a beer fridge to stock up on things when they go on sale, volunteer for charities instead of spending on e...
by basspond
Tue Jun 25, 2019 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Anyone knew the answer where the money is
Replies: 29
Views: 4833

Re: Anyone knew the answer where the money is

Sorry this happened to you. Don’t know what happened but when I transferred a substantial amount my financial advisor confirmed with both parties they were on the same page. Sometimes you get what you pay for and hopefully it can be corrected quickly.
by basspond
Sat Jun 15, 2019 7:11 am
Forum: Personal Finance (Not Investing)
Topic: Should I call it quits?
Replies: 23
Views: 5003

Re: Should I call it quits?

One of us worked 1/2 time while the other took most of their vacation to be home with the kids during the summer. During the 1/2 time we were able to build retirement benefits and remain relevant in our professional careers. It was a lot of work but we were able to handle it mainly because we were y...
by basspond
Thu Jun 13, 2019 8:04 am
Forum: Personal Investments
Topic: Asset allocation for those in their late fifties
Replies: 35
Views: 3925

Re: Asset allocation for those in their late fifties

Ours changed after retiring. Went up to about 30% bonds to ensure we don’t dip into our principal the first several years.
by basspond
Mon Jun 10, 2019 9:00 pm
Forum: Personal Finance (Not Investing)
Topic: Household income doubling to $500K, seeking advice
Replies: 9
Views: 1971

Re: Household income doubling to $500K, seeking advice

It is hard to save too much. The more you save now and in the future the easier it will be to transition to a lower income possibly when you are blessed with children. Roth came a little too late for us and it took several years until our 401 had the option. I would put most everything in Roth but s...
by basspond
Mon Jun 03, 2019 4:41 am
Forum: Personal Finance (Not Investing)
Topic: For those who earn $500k+ per year. How'd you do that?
Replies: 369
Views: 39445

Re: For those who earn $500k+ per year. How'd you do that?

Work for companies that offer 401k plans. Max them out early and your salary + investment appreciation should get you there after 20 years.
by basspond
Sat May 25, 2019 6:00 am
Forum: Personal Finance (Not Investing)
Topic: If your net worth is over $3 million, how did you do it?
Replies: 404
Views: 103334

Re: If your net worth is over $3 million, how did you do it?

Keep what you have for as long as you can spouse included
Invest early and often
Share your money
Save for those rainy days
by basspond
Tue May 21, 2019 7:30 am
Forum: Personal Finance (Not Investing)
Topic: Social Security replacement annuity -- Is there such a product?
Replies: 64
Views: 5050

Re: Social Security replacement annuity -- Is there such a product?

Depending on the details, there is a partial survivor ship feature of Social Security. My wife, for example, gets monthly SS based on my income over the decades. If I die first, she will get my, much higher, SS monthly income instead of her lower income. As it happens, my wife's and my SS payouts w...