Search found 878 matches

by basspond
Fri Oct 13, 2017 6:49 am
Forum: Investing - Help with Personal Investments
Topic: Need help investing $1M in today's market
Replies: 24
Views: 3717

Re: Need help investing $1M in today's market

i would use up to 50% for your new house. Think about balancing your portfolio. You want to keep equity in your house. Also the lower your mortgage is the more extra money you have monthly to invest. Good luck.
by basspond
Tue Oct 10, 2017 3:21 am
Forum: Personal Finance (Not Investing)
Topic: Made a career mistake- advice/next steps
Replies: 35
Views: 5548

Re: Made a career mistake- advice/next steps

Don't believe anything from your previous employer. Several months is not enough time to find out if this is a bad fit. Work with your new employer to see what plans they have for you and show them they are getting value for you by correcting the dysfunction. Give it at least 6 months, and before yo...
by basspond
Sun Oct 08, 2017 6:04 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Freeze - What did you do?
Replies: 71
Views: 5431

Re: Pension Freeze - What did you do?

.... For many years, and even just a month ago, the CEO stood up and reported in person to the employees that we are excellent workers, our customers love us, and we have a bright future. Apparently they were always lying. Not really a surprise, but what was the point of the deception? And I am sur...
by basspond
Sun Oct 08, 2017 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: How big a portfolio should I have before retiring?
Replies: 52
Views: 6784

Re: How big a portfolio should I have before retiring?

My comfort level was 35 x expenses. But I did not factor in SS or other events.
by basspond
Sun Oct 08, 2017 2:31 pm
Forum: Investing - Help with Personal Investments
Topic: Millionaire Next Door (Thank you Bogleheads)
Replies: 81
Views: 11055

Re: Millionaire Next Door (Thank you Bogleheads)

Congratulations and also sorry for your loss. One of my mentors died recently and it gave me peace and hope that there are a lot of normal people out there who help others without much fanfare. My dad always told me he was working on his 2nd million because he gave up on the first. Little did he rea...
by basspond
Fri Oct 06, 2017 5:19 am
Forum: Personal Finance (Not Investing)
Topic: Retirement Account Stolen by Identity theft
Replies: 187
Views: 20549

Re: Retirement Account Stolen by Identity theft

I had a similar situation with a credit card. A person called about midnight to the company to change the email account. According to the company, they didn't answer the security questions correctly so called back within an hour and changed it then. There needs to be more punishment for these identi...
by basspond
Wed Oct 04, 2017 4:36 am
Forum: Personal Finance (Not Investing)
Topic: What to prioritize? Or hire a financial advisor?
Replies: 10
Views: 935

Re: What to prioritize? Or hire a financial advisor?

You mentioned this but was not one of the options, tighten your budget 1st, increase retirement savings to 15%, pay off car, pay off student loan, increase your house savings, college savings would be last.
by basspond
Mon Oct 02, 2017 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Trust or ?
Replies: 13
Views: 1204

Re: Trust or ?

Just keep going over the financials with her and the kids. If they are decent they will understand and not try to be like the prodigal son. It will be hard to change her mind but maybe you can start gifting in small amounts based on a formula if your returns are outpacing your income.
by basspond
Sat Sep 30, 2017 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Question About Long Term Care
Replies: 75
Views: 5678

Re: Question About Long Term Care

My parents have had a long term care policy for a long time. One was caretaker until dementia/Ahlzeimer's started to take its toll. They were told they had a really good one, but it still had a 160 day deductible. They started to have professional home care come in almost everyday that counted again...
by basspond
Thu Sep 28, 2017 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: My Smartest Financial Moves
Replies: 62
Views: 5926

Re: My Smartest Financial Moves

These observations have been good, but lots of them fall into the category of "I just happened to do something by accident that turned out to work." Nothing inherently wrong with that, but it's hard to replicate and learn from. I can't change your feelings on your observations. You are not alone. A...
by basspond
Wed Sep 27, 2017 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Novice doing some tax planning for 2018
Replies: 21
Views: 1835

Re: Novice doing some tax planning for 2018

The tax deferral for each person is $18k total, even if you are in two plans (403 and 457)
You cannot deduct FICA taxes from federal income tax
by basspond
Wed Sep 27, 2017 5:58 pm
Forum: Personal Finance (Not Investing)
Topic: My Smartest Financial Moves
Replies: 62
Views: 5926

Re: My Smartest Financial Moves

Married up Moved up in house, then refinanced to 15 year mortgage, have remained in same house for 25+ years Buy new cars and then keep until the wheels fall off Started saving in 401k as soon as I could in my very early 20s Stressed the importance of work, study, and values to children who have gon...
by basspond
Wed Sep 27, 2017 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: My boneheaded financial mistakes
Replies: 77
Views: 9550

Re: My boneheaded financial mistakes

Sold some stock in 401k account and withdrew the gains
Listened to penny stock broker
Bought new sports car, but the kicker was that the insurance premiums were more then the payments
Financed furniture
by basspond
Mon Sep 25, 2017 12:02 am
Forum: Personal Finance (Not Investing)
Topic: Bogleheads monthly costs of dog ownership?
Replies: 83
Views: 5086

Re: Bogleheads monthly costs of dog ownership?

Monthly costs $25 Heartworm/flea meds $20 Food medium grade $10 Vet $10 Treats/yard treatments/other $20 Emergency from ear infections, injuries, teeth cleaning, end of life treatments (know people who spent thousands that didn't add any time or quality of life) We bathe groom the dog ourself. Inves...
by basspond
Sat Sep 23, 2017 7:52 am
Forum: Investing - Help with Personal Investments
Topic: I won the Lottery. Need sound advice.
Replies: 220
Views: 24013

Re: I won the Lottery. Need sound advice.

I hate to be blunt but your tone sounds like many others who won a lottery, spend some here and there and by the time you catch your breath it's all gone. I would pay off your debts by making extra payments over a year, take 5% and splurge, the rest save. Good luck.
by basspond
Sat Sep 23, 2017 7:45 am
Forum: Investing - Help with Personal Investments
Topic: Take The Lump Sum or The Immediate Annuity?
Replies: 34
Views: 3177

Re: Take The Lump Sum or The Immediate Annuity?

I would rather have control of the money, lump sum.
by basspond
Sat Sep 23, 2017 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Would you get flood insurance?
Replies: 25
Views: 1400

Re: Would you get flood insurance?

We don't now but will. We thought we would be safe living close to the headwaters of a major waterway, but when another watershed started flowing into ours it was quite an aye opening experience.
by basspond
Sat Sep 23, 2017 5:52 am
Forum: Personal Finance (Not Investing)
Topic: Calling out the not so rich bogleheads
Replies: 233
Views: 25196

Re: Calling out the not so rich bogleheads

The issue with most people I have observed is that the end seems so overwhelming that they don't even try. I started many years ago barely making 5 figures. I made some financial mistakes along the way but I started saving immediately. It took over 20 years until the mass of compounding interest and...
by basspond
Fri Sep 22, 2017 3:46 pm
Forum: Investing - Theory, News & General
Topic: Oil - Price & Supply/Demand Conundrum
Replies: 62
Views: 3847

Re: Oil - Price & Supply/Demand Conundrum

I think the energy sector will be in straight line down correction periods with longer recovering. Technology will drive the prices lower and there will be a longer recovering because of alternative fuels and newer technology unlocking more reserves.
by basspond
Fri Sep 22, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Age you retired
Replies: 112
Views: 8225

Re: Age you retired

55 still less then a year into it and no regrets.
by basspond
Fri Sep 22, 2017 8:28 am
Forum: Personal Finance (Not Investing)
Topic: The Magic of Savings Rate
Replies: 97
Views: 10826

Re: The Magic of Savings Rate

The only things that this chart does is confirms the power of compound interest and shows the earlier you save the less you have to save. However, if a person makes $100k a year and only starts to save 2 years before retirement, they would have less then $200k! I'm glad I didn't follow this chart.
by basspond
Wed Sep 20, 2017 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: Help me calculate returns on Whole Life Policy - Keep it or cancel it?
Replies: 19
Views: 1570

Re: Help me calculate returns on Whole Life Policy - Keep it or cancel it?

Get rid of 1st keep 2nd until you don't need insurance then cash out.
by basspond
Sun Sep 17, 2017 1:08 pm
Forum: Personal Finance (Not Investing)
Topic: Psychological effects of Early Retirement in peak earning years.
Replies: 63
Views: 7060

Re: Physiological effects of Early Retirement in peak earning years.

You need to make a list of your priorities in life. If your number 1 has anything to do with money no amount will be fulfilling.
by basspond
Tue Sep 05, 2017 7:03 am
Forum: Personal Finance (Not Investing)
Topic: If I died today, what would my spouse do?
Replies: 69
Views: 14006

Re: If I died today, what would my spouse do?

If you have any children I would have discussions with your spouse and them or one you trust the most. You would have at least two people who could most importantly support each other through grief and work through the mind boggling activities that is required after one dies. I believe I gave my mom...
by basspond
Thu Aug 31, 2017 5:17 am
Forum: Investing - Help with Personal Investments
Topic: Retirement or Pay Off Debt?
Replies: 35
Views: 3115

Re: Retirement or Pay Off Debt?

No problem. One other way to look at it is that debt and retirement are one in the same. Having more debt just means needing more to retire. Paying a dollar toward debt payoff is still putting you one dollar closer to retirement. It's the same end game. Good luck. I totally disagree. So if I financ...
by basspond
Thu Aug 31, 2017 5:06 am
Forum: Personal Consumer Issues
Topic: Hurricane Harvey has me rethinking my approach to disaster preparations
Replies: 72
Views: 6299

Re: Hurricane Harvey has me rethinking my approach to disaster preparations

What happens is people (like me) survive a catastrophe unscathed and feel like they are safe from any future events. I will be getting flood insurance even though we didn't have any damage. It's like uninsured motorist coverage. Why do we need it when everyone is forced to have it? We also have supp...
by basspond
Wed Aug 30, 2017 8:09 am
Forum: Personal Finance (Not Investing)
Topic: How much sooner could you retire with NO property taxes?
Replies: 116
Views: 7344

Re: How much sooner could you retire with NO property taxes?

Most tax entities grant homestead and senior citizen exceptions that will reduce your tax burden. You need to look at all taxes. Your question would be like asking how much earlier you could retire if you didn't have to pay for potatoes, but you still ate rice.
by basspond
Wed Aug 30, 2017 7:35 am
Forum: Personal Finance (Not Investing)
Topic: how to calculate whether to pay off mortgage
Replies: 21
Views: 2395

Re: how to calculate whether to pay off mortgage

The greatest potential value of a long-term loan is the option of not paying it off. The magic word you used is potential. It isn't a given and most do not factor in the risk of leveraging. It might work for some but not all. I didn't pay off ours early but we did refinance to a 15 year. But these ...
by basspond
Wed Aug 30, 2017 6:39 am
Forum: Investing - Help with Personal Investments
Topic: Retirement or Pay Off Debt?
Replies: 35
Views: 3115

Re: Retirement or Pay Off Debt?

If you are serious about paying off your debt get on a tight budget and only contribute to 401k. Your goal is to pay off your student loan within 5 years. If that can't be done then reduce, not eliminate your 401k contribution. Once your student loan is paid off then max out 401k and Roth.
by basspond
Tue Aug 29, 2017 10:29 pm
Forum: Personal Finance (Not Investing)
Topic: how to calculate whether to pay off mortgage
Replies: 21
Views: 2395

Re: how to calculate whether to pay off mortgage

The only reason I wouldn't pay off a loan if the remaining term was less then 20% of the original term. Reason would be is that the last years of a mortgage, the interest you could write off is minimal.
by basspond
Tue Aug 29, 2017 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: When to give resignation notice
Replies: 64
Views: 6604

Re: When to give resignation notice

Diffinitely wait till you are vested to turn in your 3 months notice. I have known several people who gave their 2 week notice and were immediately walked out the door. I believe they were paid for the remaining two weeks but you have the issue with vesting that I wouldn't take a chance on.
by basspond
Fri Aug 25, 2017 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits
Replies: 31
Views: 2806

Re: Social Security Benefits

Thanks for the info. The more you dig into it the more you realize it is a bad annuity product. Are you referring to SS being a bad product? Do you understand the bend points? Compared to what you can buy in the private sector, SS is a fantastic annuity product (at least up to the second bend). --v...
by basspond
Fri Aug 25, 2017 12:10 am
Forum: Investing - Help with Personal Investments
Topic: Adjusting AA as retirement nears
Replies: 64
Views: 6967

Re: Adjusting AA as retirement nears

My belief is that in retirement your AA should be based on your yearly expenses. For instance if your expenses are $100k and your portfolio is worth $2M your AA should be sufficient to fund between 4-6 years of expenses. So in this scenario AA should be between 80/20 and 70/30.
by basspond
Thu Aug 24, 2017 11:57 pm
Forum: Investing - Help with Personal Investments
Topic: What to do with series EE savings bonds?
Replies: 28
Views: 2900

Re: What to do with series EE savings bonds

Beehave wrote:
Thu Aug 24, 2017 10:34 pm
At a minimum, the value after 20 years will be at least two times the face value of the bond
The earlier bonds maybe, but the later ones will barely clear the face value or double what I paid for them.
by basspond
Thu Aug 24, 2017 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement anxiety- emotionally and financially
Replies: 55
Views: 6804

Re: Retirement anxiety- emotionally and financially

Your attitude has a lot to do with priorities. Don't know your non-financial goals, but your household income is about 300% more then the US average. The last several years of my career weren't that great, but like in a marathon, even though you are hurting, when you see that finish line (and you we...
by basspond
Thu Aug 24, 2017 11:29 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Benefits
Replies: 31
Views: 2806

Re: Social Security Benefits

Thanks for the info. The more you dig into it the more you realize it is a bad annuity product.
by basspond
Wed Aug 23, 2017 11:20 am
Forum: Investing - Help with Personal Investments
Topic: How to Calculate Employer's Match Towards Total Goal
Replies: 20
Views: 1169

Re: How to Calculate Employer's Match Towards Total Goal

The mistake in counting the company match is that you are not accurately stating your savings rate. Not only will your nest egg be bigger if you don't count it, most importantly it will be an incentive to keep your expenses down.
by basspond
Mon Aug 21, 2017 5:30 pm
Forum: Investing - Help with Personal Investments
Topic: Which loan to pay off?
Replies: 17
Views: 1370

Re: Which loan to pay off?

Loan B because they are both the same amount and B has a higher interest rate.
by basspond
Mon Aug 21, 2017 2:21 pm
Forum: Investing - Help with Personal Investments
Topic: 1M USD net worth, 60K USD annual expenses [UK]
Replies: 19
Views: 3188

Re: 1M USD net worth, 60K USD annual expenses [UK]

Valuethinker, can you elaborate on why, from a tax perspective, it would be a bad idea to gift the 250K USD to my wife as a US citizen? I believe that your gift would be based on U.K. tax laws. So if there is none you should be fine. If you were US citizen gifting to non-US spouse there is an annua...
by basspond
Mon Aug 21, 2017 2:10 pm
Forum: Investing - Help with Personal Investments
Topic: My girlfriend and her 401K, need to give her advice
Replies: 61
Views: 5093

Re: My girlfriend and her 401K, need to give her advice

She was in fixed income, i.e., money market. How did that give her benefit of bull bond market? Also, I've never been married, nor have any desire to ever do so, so my assets are not a consideration. Stay clear then. You will be telling her what to do with her money but won't commit. That is not go...
by basspond
Sun Aug 20, 2017 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Real estate vs stock market returns: some unbiased numbers
Replies: 40
Views: 5259

Re: Real estate vs stock market returns: some unbiased numbers

There are a lot of risk factors that will skew both numbers. However, the biggest one is investing in only one. Would you put most of your money into one stock? Real estate investment can and does work for many but you have to be careful and there is a lot of sweat equity not accounted for. And like...
by basspond
Sat Aug 19, 2017 10:35 am
Forum: Investing - Help with Personal Investments
Topic: Accumulation phase: Roth vs Traditional IRA?
Replies: 13
Views: 1197

Re: Accumulation phase: Roth vs Traditional IRA?

I would just start to contribute to her Roth. Too much of a tax hit and I am a believer in having diversity in your portfolio by tax liability buckets, taxed, Roth and traditional IRA.
by basspond
Fri Aug 18, 2017 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Coming up with plan
Replies: 7
Views: 1019

Re: Coming up with plan

headingboogle wrote:
Fri Aug 18, 2017 10:16 pm
Is it too early to refi after only 1 year in the mortgage? The mortgage does not have PMI, but instead I settled for a higher rate.
Never too early. One of the best financial decisions we made was to refinance to a 15 year from 30 year a little over a year after initial mortgage.
by basspond
Fri Aug 18, 2017 11:16 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on Chase for everyday banking
Replies: 42
Views: 4926

Re: Thoughts on Chase for everyday banking

Very pleased so far after 5+ years. Works great that we were able to link children's accounts. Many locations and no fee ATMs. Have premium account that requires a $15K minimum but most services are free including cashier's checks. Transferred a CD into a conservative growth fund that is counted as ...
by basspond
Fri Aug 18, 2017 4:02 pm
Forum: Investing - Help with Personal Investments
Topic: How do you know how much your portfolio lost/gain in one day?
Replies: 31
Views: 1640

Re: How do you know how much your portfolio lost/gain in one day?

Spreadsheet with all my positions and accounts. Once you set it up very easy to maintain and update.
by basspond
Fri Aug 18, 2017 12:14 am
Forum: Investing - Help with Personal Investments
Topic: Lost $7000 today in ONE DAY!
Replies: 183
Views: 16217

Re: Lost $7000 today in ONE DAY!

Take the $0.50 and invest. Save on expenses and keep on saving, investing and plugging away. I have talked to several "run for the hills" investors who bailed because of the feeling you have now and lost so much opportunity growth because they couldn't time getting back in.
by basspond
Thu Aug 17, 2017 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 10549

Re: Anyone planning on never retiring?

So, I have two close relatives who serve as role models for the downsides of retirement. I plan to keep working until I'm dead or no longer able. Hope what happened to your parents doesn't happen to you. But it sounds like you are on the same course. Remember insanity is doing something the same an...
by basspond
Thu Aug 17, 2017 4:22 am
Forum: Personal Finance (Not Investing)
Topic: Anyone planning on never retiring?
Replies: 138
Views: 10549

Re: Anyone planning on never retiring?

The most meaningful part in a lot of people's lifes are their profession. It's easy to fall into that trap because of the money and the time one spends on their job. I feel sorry for a lot of people who rely on their job for their satisfaction or meaning in life. I retired as early as I could and I ...
by basspond
Tue Aug 15, 2017 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Plan for making child pay for part of college
Replies: 111
Views: 5991

Re: Plan for making child pay for part of college

Have you communicated to your children they are expected to pay? It is sort of late in the game if you drop this on them now. We told ours we would pay and their job is to make good grades, be active in their faith walk, and volunteer. We opened savings accounts early with them and would match whate...