Search found 1047 matches

by basspond
Fri Aug 17, 2018 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Continue flood insurance after mortgage paid off?
Replies: 15
Views: 915

Re: Continue flood insurance after mortgage paid off?

I think there is a 90 day waiting period and hurricane season will be over by then. The waiting period is 30 days. Back to original post, it can’t be determined with any confidence what year event flood (100, 500, etc) that was encountered with Harvey. Look at a map of the Houston area and you can ...
by basspond
Thu Aug 16, 2018 3:39 pm
Forum: Personal Finance (Not Investing)
Topic: Take auto loan 0.9% if I can afford cash?
Replies: 98
Views: 4628

Re: Take auto loan 0.9% if I can afford cash?

What are the guaranteed benefits of taking a loan? Only thing I can think of is to have more cash on hand to spend on more things. Pay with cash and enjoy life without being subject to the lender.
by basspond
Mon Aug 13, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Paper checks yes or no?
Replies: 116
Views: 6179

Re: Paper checks yes or no?

Our main use of checks these days are for charitable contributions and gifts.
by basspond
Mon Aug 13, 2018 7:22 am
Forum: Personal Finance (Not Investing)
Topic: how much car can we afford?
Replies: 128
Views: 5611

Re: how much car can we afford?

Whatever you can pay with cash.
by basspond
Sun Aug 12, 2018 4:33 am
Forum: Personal Finance (Not Investing)
Topic: Mid 30s Crisis: Personal budget, savings and goals
Replies: 36
Views: 6973

Re: Mid 30s Crisis: Personal budget, savings and goals

You are doing great. We never really had a budget. What we did was transfer a set amount monthly into a money market in our brokerage account. When it got a certain size we would invest it or used it to buy big ticket items. By the way, pay off your debts and pay for most things with cash. Can’t bea...
by basspond
Sat Aug 11, 2018 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Comfortably Retired and charity giving?
Replies: 25
Views: 1956

Re: Comfortably Retired and charity giving?

A percentage based on our living expenses.
by basspond
Sat Aug 11, 2018 5:56 am
Forum: Investing - Help with Personal Investments
Topic: Preparing for a bear market
Replies: 43
Views: 5011

Re: Preparing for a bear market

Why would it be any different now then when you lived through Black Monday in 87, dot com bubble in 2000, and 2008? Only thing is to have enough investments in stable funds to live off for at least four years.
by basspond
Fri Aug 10, 2018 7:26 am
Forum: Investing - Help with Personal Investments
Topic: Should I pay for a 401k?
Replies: 32
Views: 2141

Re: Should I pay for a 401k?

I would not if it depended on the other employees to pay. What if one or more decides not to partipate?
by basspond
Fri Aug 10, 2018 7:20 am
Forum: Investing - Help with Personal Investments
Topic: Contribute extra $ into Roth or Mortgage
Replies: 12
Views: 1025

Re: Contribute extra $ into Roth or Mortgage

If you will be moving before the ARM resets, I would split between Roth and increasing your savings for a different house. If after, on the house.
by basspond
Fri Aug 10, 2018 7:15 am
Forum: Investing - Help with Personal Investments
Topic: Roth 401k vs. Traditional 401k
Replies: 36
Views: 1859

Re: Roth 401k vs. Traditional 401k

It has served me well in retirement to have three pots of money, before, after, and Roth tax accounts. Gives me more flexibility. With that said though, Roth came later in my career so I am a little light in that bucket and not willing to fork over a lot of money to the government to convert. I woul...
by basspond
Fri Aug 10, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: Biggest Threats to Financial Well-Being
Replies: 99
Views: 8932

Re: Biggest Threats to Financial Well-Being

Instead of saving more as your income increases, you only spend more.

You don’t have faith in something bigger then you.
by basspond
Fri Aug 10, 2018 7:02 am
Forum: Personal Finance (Not Investing)
Topic: Response from boss re: market analysis
Replies: 71
Views: 7402

Re: Rude response from boss re: market adjustment

How long have you been in this part time position? Unless you want to stay part time then don’t rock the boat, if not find out what you can do to get the added benefit of full time. Business climates change.
by basspond
Fri Aug 10, 2018 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Should I tell my family/friend that they are making a financial mistake?
Replies: 87
Views: 7671

Re: Should I tell my family/friend that they are making a financial mistake?

It is probably too late to change their minds at this point. Better way is if they are really close you would have conversations with them about the things you have learned on your, hopefully successful, financial path. I was greatful, appreciative, and receptive of people who gave me advice when I ...
by basspond
Tue Aug 07, 2018 6:02 am
Forum: Personal Finance (Not Investing)
Topic: Looking for a pep talk
Replies: 26
Views: 3062

Re: Looking for a pep talk

Although our net worth was less, the first decade or so it just seemed like we were treading water too. But something “magical” happens as your investment builds and compounding interest kicks in. Hang in there.
by basspond
Tue Aug 07, 2018 5:27 am
Forum: Personal Finance (Not Investing)
Topic: Financial planning questions
Replies: 5
Views: 850

Re: Financial planning questions

How does it feel not to have those car payments? Imagine if you could do the same with your student credit line? Reduce your NQDC and 529 contribution, change from Roth to IRA (if you can) and throw everything at the SCL to have it paid off in less then 3 years. Then go back to Roth, NQDC, and 529 c...
by basspond
Sun Aug 05, 2018 7:44 am
Forum: Personal Finance (Not Investing)
Topic: Will you pay for your kids' college/graduate education?
Replies: 366
Views: 14204

Re: Will you pay for your kids' college/graduate education?

We did and are. Have been in our plan when we thought about having kids, like my plan to retire as soon as I can when I started to work over 40 years ago. Problem is most people live day to day and don’t even think about the future until it is here. Both kids work hard and value money and saving sin...
by basspond
Fri Aug 03, 2018 4:20 am
Forum: Personal Consumer Issues
Topic: Which diet soda pop do you enjoy?
Replies: 110
Views: 4435

Re: Which diet soda pop do you enjoy?

Coke Zero (with Jack). Zero carbs. Lost 10 lbs in 3 months when I switched from classic coke. Second would have to be Diet Mountain Dew. Got to have my caffeine, don’t drink coffee.
by basspond
Fri Aug 03, 2018 4:15 am
Forum: Personal Finance (Not Investing)
Topic: Charitable giving strategy
Replies: 43
Views: 2228

Re: Charitable giving strategy

Giving to local charities will give your money more bang for the buck. To really feel the affect of your giving it is best that you have some stake in the charity you are giving to. I too gave to UW, the issue with the organization is your donation not only had to pay the overhead of UW, but also to...
by basspond
Mon Jul 30, 2018 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Consistently over budget on food - what are you guys eating?
Replies: 70
Views: 5781

Re: Consistently over budget on food - what are you guys eating?

Grocery stores have sales constantly. Always keep an eye out on staples/non-perishable items. Always make more for leftovers and freeze anything you are not going to consume in several days. Some vegetables, like green beans, can be blanched and frozen for later. Do not go for name brand items, most...
by basspond
Mon Jul 30, 2018 6:21 am
Forum: Personal Finance (Not Investing)
Topic: When mortgage rates are high, why invest in stock market?
Replies: 36
Views: 4291

Re: When mortgage rates are high, why invest in stock market?

We had a mortgage in that time frame, but our initial loan was over 8%, in the late 80's it was over 10%. The best way to save/invest interest expense is to reduce your mortgage term. Also, there are hidden expenses with mortgages and owning a house that is not factored in the mortgage rate.
by basspond
Sat Jul 28, 2018 5:50 am
Forum: Personal Finance (Not Investing)
Topic: Pay for college with cash flow
Replies: 78
Views: 5018

Re: Pay for college with cash flow

When our children were under 4 we had the opportunity to invest in a state sponsored tuition guarantee program. Instead of buying it we stuck the money into mutual funds thinking our investment would out pace college inflation. Well college costs doubled the amount I thought it would be and the prog...
by basspond
Sat Jul 28, 2018 5:28 am
Forum: Personal Finance (Not Investing)
Topic: Pension-Lump Sum or Monthly Payments?
Replies: 16
Views: 1612

Re: Pension-Lump Sum or Monthly Payments?

A couple of things to review before deciding. Is the pension “not” cost of living adjusted (COLA)? Can you live on your salary until you retire? Will you have a pension? Will both of you have social security? Just looking at the numbers the pension would be the way to go. But if all of your answers ...
by basspond
Fri Jul 27, 2018 7:09 am
Forum: Personal Finance (Not Investing)
Topic: The stock that got away
Replies: 40
Views: 2899

Re: The stock that got away

I have seen two different philosophies on people’s luck in the market. They either talk about the wins they have or the misses/loses. Be a combination of both and learn from both.
by basspond
Fri Jul 27, 2018 7:04 am
Forum: Investing - Help with Personal Investments
Topic: retirement calculator - most that I've seen are missing some things
Replies: 23
Views: 3892

Re: retirement calculator - most that I've seen are missing some things

With a little Excel knowledge you can customize your own retirement calculator.
by basspond
Fri Jul 20, 2018 3:21 pm
Forum: Personal Finance (Not Investing)
Topic: Salary vs. Lifestyle
Replies: 142
Views: 17061

Re: Salary vs. Lifestyle

You can't get time back. If you haven't, watch the movie "Click".
by basspond
Fri Jul 20, 2018 3:18 pm
Forum: Personal Finance (Not Investing)
Topic: Families - What's your total annual credit card spend?
Replies: 92
Views: 6883

Re: Families - What's your total annual credit card spend?

About $50k. Taxes, charity, college tuition and rent, insurance, graduation monetary gifts, some utilities, and feeding the slots are about the only things that don't go on it.
by basspond
Fri Jul 20, 2018 3:13 pm
Forum: Personal Finance (Not Investing)
Topic: Denied Umbrella Coverage Twice - What now?
Replies: 11
Views: 1474

Re: Denied Umbrella Coverage Twice - What now?

Interesting. I have an umbrella policy and they put a rider on it taking off our boat because the length and size of motor didn't fit their parameters. See if you can get a company to put a rider on the policy to not cover actions by others in your household.
by basspond
Fri Jul 20, 2018 3:04 pm
Forum: Personal Consumer Issues
Topic: An unwanted Boat
Replies: 20
Views: 2491

Re: An unwanted Boat

My guess is the boat was purchased without changing the title because then sales tax would have been owed on the transaction. It is going to be a hassle to re-title and then sales tax will be owed on the value of the boat. Had a relative with a similar situation with an auto. It happened over 20 yea...
by basspond
Wed Jul 18, 2018 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone not have a Budget?
Replies: 115
Views: 7193

Re: Anyone not have a Budget?

No budget here either. Just a high savings rate (over 30%).
by basspond
Wed Jul 18, 2018 7:47 am
Forum: Personal Finance (Not Investing)
Topic: Thrift Savings Plan Loan Help/Withdrawl/Tax
Replies: 11
Views: 993

Re: Thrift Savings Plan Loan Help/Withdrawl/Tax

...The good thing about the TSP is that I am paying my loan back to myself with interest, not some bank. It is not just you but a lot of others that this logic doesn't make sense. Why is that? Why does it matter who pays your interest on your retirement account? Does the loan interest you pay worth...
by basspond
Sun Jul 15, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Thrift Savings Plan Loan Help/Withdrawl/Tax
Replies: 11
Views: 993

Re: Thrift Savings Plan Loan Help/Withdrawl/Tax

...The good thing about the TSP is that I am paying my loan back to myself with interest, not some bank. It is not just you but a lot of others that this logic doesn't make sense. You still have to pay interest if you borrowed from another bank and your TSP account would still be making interest. I...
by basspond
Sat Jul 14, 2018 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement
Replies: 145
Views: 14113

Re: Early retirement

The most interesting conversations I have heard or hear of someone else having is someone not understanding why we retired early yet they had a close relative that died at a younger age then when we retired.
by basspond
Fri Jul 13, 2018 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Preparing non-technocrat spouse $ Mgmt
Replies: 25
Views: 2239

Re: Preparing non-technocrat spouse $ Mgmt

Have a binder that you update yearly with balances in account and the information on how to access the accounts. Also a list of monthly bills and how they are paid. Review with your spouse yearly and have her access the accounts. But make sure your children know where the information is and you expl...
by basspond
Fri Jul 13, 2018 6:08 am
Forum: Personal Consumer Issues
Topic: When does frugal cross the line to cheapskate?
Replies: 136
Views: 10032

Re: When does frugal cross the line to cheapskate?

When your financial decisions brings actual physical harm to someone, when they cheat others, and if you try to haggle over a majority of transactions.
by basspond
Fri Jul 06, 2018 9:20 am
Forum: Investing - Help with Personal Investments
Topic: Do you count pension contributions as a portion of your overall retirement contributions.
Replies: 47
Views: 3666

Re: Do you count pension contributions as a portion of your overall retirement contributions.

Why not count your and your company's contribution to SS? The main reason to have a real % number that you save is to control your other spending. Just count what you save, you will be better off in the long run.
by basspond
Fri Jul 06, 2018 9:09 am
Forum: Personal Finance (Not Investing)
Topic: 10 years to lose wealth applicable to bogleheads ?
Replies: 32
Views: 3848

Re: 10 years to lose wealth applicable to bogleheads ?

These numbers might be skewed by professional athletes. The main thing that everyone must be weary of is lifestyle creep or in these instances avalanches.
by basspond
Thu Jul 05, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Downsizing question: smaller house or interim rental
Replies: 15
Views: 892

Re: Downsizing question: smaller house or interim rental

Had a retired relative move to a smaller house after spouse died. I couldn’t believe that the price paid for new house which was almost 1/2 the size, no pool, and zero lot was as much as the old house. However, they seem very happy and the price was well worth the less maintenance.
by basspond
Wed Jul 04, 2018 6:19 pm
Forum: Personal Finance (Not Investing)
Topic: Will I ever be able to itemize?
Replies: 64
Views: 4369

Re: Will I ever be able to itemize?

I thought the same thing when DW and I married. But as we matured we started to give more and when our interest portion on mortgage got minuscule we started to stack charity and SALT every other year.
by basspond
Wed Jul 04, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Just divide what you've got by what you'll spend??
Replies: 21
Views: 2852

Re: Just divide what you've got by what you'll spend??

It probably works if your “years” are between 25 - 35. Less years chances are it won’t last that long, more years it will last infinitely.
by basspond
Mon Jul 02, 2018 10:02 am
Forum: Investing - Help with Personal Investments
Topic: Private Label Blackrock Index Funds?
Replies: 28
Views: 1934

Re: Private Label Blackrock Index Funds?

My company had the same. They had several funds that said mimicked different indexes with very low fees. When I started to dig into it the rate of returns were lower then the indexes they said they mimicked. As soon as I retired I moved everything out.
by basspond
Sat Jun 30, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Timing exit from megacorp
Replies: 54
Views: 5982

Re: Timing exit from megacorp

Don’t feel greedy or guilty. I picked my retirement based on what gave me the most bang for my buck. In my case it was to maximize my vacation pay.
by basspond
Fri Jun 29, 2018 4:08 pm
Forum: Personal Finance (Not Investing)
Topic: Charity giving how much? How much do other retirees give?
Replies: 44
Views: 4022

Re: Charity giving how much? How much do other retirees give?

Set a percentage to give as your #1 expense item. If you give what is left over, you will not receive the benefits of giving. Would you please list the benefits which you see? As an example you tell yourself you are only going to save what you have left over. What do you think a person would save m...
by basspond
Fri Jun 29, 2018 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: Does It Make Sense to Wait to Claim SocSec?
Replies: 62
Views: 6913

Re: Does It Make Sense to Wait to Claim SocSec?

A lot of good information has already been posted in response to the OP's question. I would summarize some considerations as follows: Health concern - does the early retiree have a normal life expectancy? Spouse - does the spouse have higher SS benefits? If yes, can the couple afford to delay benef...
by basspond
Mon Jun 25, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Charity giving how much? How much do other retirees give?
Replies: 44
Views: 4022

Re: Charity giving how much? How much do other retirees give?

Set a percentage to give as your #1 expense item. If you give what is left over, you will not receive the benefits of giving.
by basspond
Sun Jun 24, 2018 6:55 pm
Forum: Personal Finance (Not Investing)
Topic: Retirees: When you cut spending, what do you cut?
Replies: 84
Views: 8600

Re: Retirees: When you cut spending, what do you cut?

Permanent cuts phone/Mobil phone/internet/cable bundled with lower rates was about $75 monthly, life insurance over $200 monthly. But most are non permanent, avoid getting drinks when eating out, that is anywhere from $5- $30 a meal, have more time so avoid toll roads $10-$20 monthly, cook more at h...
by basspond
Thu Jun 21, 2018 7:06 am
Forum: Investing - Help with Personal Investments
Topic: help, inheritance of $3.5M, read & read BogleH, & still in the dark
Replies: 33
Views: 4529

Re: help, inheritance of $3.5M, read & read BogleH, & still in the dark

I would diffinitely shop around for financial advisors especially with your feelings. With this amount of money most will discount their services. I thought about DIY since I did it in my earning years, but this life stage is a different animal. It has been a relief for me. The main reasons I choose...
by basspond
Thu Jun 21, 2018 6:55 am
Forum: Investing - Help with Personal Investments
Topic: How much of your taxable holdings is unrealized capital gains?
Replies: 58
Views: 5176

Re: How much of your taxable holdings is unrealized capital gains?

I have been saving equities for over 30 years so my % is off the charts. I have factored in my taxes, it will be a chunk but least we forget I would rather pay later then pay as you go and loose a lot of my holdings. Plus they are generating dividends and capital gains as we go.
by basspond
Mon Jun 18, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: can we afford to spend $20K on travel annually
Replies: 89
Views: 7203

Re: can we afford to spend $20K on travel annually

You can but also if you can do some less expensive ones to visit relatives. A lot more meaningful and you won’t regret it as they get older and you start losing them.
by basspond
Sat Jun 16, 2018 6:26 am
Forum: Investing - Help with Personal Investments
Topic: I feel like selling my 3 fund
Replies: 57
Views: 7871

Re: I feel like selling my 3 fund

I know someone who has been sitting on the sidelines for the last 3 years hunting for the bear. Others I know sold at the bear and missed the bull. If you do it know the risks. You could have another tax loss opportunity.
by basspond
Thu Jun 14, 2018 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Paying off mortgage early
Replies: 43
Views: 3743

Re: Paying off mortgage early

We didn't pay off early but switched from 30 to 15 years a year into the 30. The interest rate difference was about 1.5%. Basically our payment stayed the same and instead of paying twice the value of the house in interest, the 15 year note total interest was less then 1/2 the value of the house.