Search found 188 matches

by Lars_2013
Tue Dec 31, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: How does $78,750 capital gains bracket work?
Replies: 5
Views: 791

Re: How does $78,750 capital gains bracket work?

The qualified dividends / long-term capital gains stack on top of the ordinary income. So in your example, each dollar of ordinary income pushes a dollar of qualified investment income into the 15% bracket. See, for example, this explanation: https://www.kitces.com/blog/long-term-capital-gains-bump-...
by Lars_2013
Sun Dec 29, 2019 12:34 pm
Forum: Personal Consumer Issues
Topic: Census "American Community Survey"??
Replies: 12
Views: 1066

Re: Census "American Community Survey"??

You can call your regional Census office to verify the legitimacy of the form your relative received. No, in reality, they're not going to prosecute your relative if it's not completed. And yes, filling it out is a public service that improves the accuracy of academic research and the implementation...
by Lars_2013
Thu Oct 31, 2019 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: [Just got married] Looking for ways to cut down on my budget
Replies: 80
Views: 6812

Re: How do people live on an average household income of 60K? Looking for ways to cut down on my budget

My partner and I are DINKs, so no child-related expenses. That said, we spend a lot less than you in many budget areas to live in a metro area with a median home price of $235,000 according to Zillow (so, about the U.S. average). Not counting charitable giving, taxes, and retirement savings, our spe...
by Lars_2013
Sun Oct 13, 2019 10:44 am
Forum: Personal Finance (Not Investing)
Topic: What % and for how long do you have to save to replace income net ofsaving?
Replies: 17
Views: 2331

Re: What % and for how long do you have to save to replace income net ofsaving?

For simple assumptions, this calculator lets you put in different annual return and withdrawal rate assumptions if you click on "show more options." http://networthify.com/calculator/early ... alRate=3.5
by Lars_2013
Thu Sep 05, 2019 7:50 pm
Forum: Personal Consumer Issues
Topic: Pre-paid Funeral Expenses
Replies: 66
Views: 4208

Re: Pre-paid Funeral Expenses

My grandparents were told while they were still living, much to their disappointment, that their bodies were not wanted by "science" (which I think probably means they weren't wanted by the local medical schools / research institutions). They ended up choosing cremation. The fact that they were very...
by Lars_2013
Thu May 30, 2019 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a home and renting out the extra bedrooms
Replies: 22
Views: 2548

Re: Buying a home and renting out the extra bedrooms

I did this in my 20s and it was a good choice. I did buy a house that I could afford on my own in case my tenants flaked, etc. (It sounds like you could easily afford the place on your own if you so chose, so you have this covered.) You'll only owe income taxes on the net profit from renting a part ...
by Lars_2013
Wed May 29, 2019 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 28975

Re: Can I afford this 2.3 million dollar home?

As others have said, this is really a question of debt to income ratio. You are talking about a house that is around 2x your annual salary. My loan is around 3x my salary, so that said you can afford it using the math I use for affordability. Lots of technical questions on here about stairs, and cu...
by Lars_2013
Thu May 09, 2019 8:29 pm
Forum: Personal Consumer Issues
Topic: Tired of a reel mower
Replies: 42
Views: 4249

Re: Tired of a reel mower

We have a Black & Decker electric mower with a removable battery that we bought in Aug 2013 after our prior mower (which had an integrated battery) was stolen. The battery seems to still be going fine. The battery is huge and heavy, so I'm guessing it's not lithium ion. The underside of the mower it...
by Lars_2013
Wed May 08, 2019 8:00 pm
Forum: Personal Consumer Issues
Topic: Good town to stop on I-81
Replies: 42
Views: 3638

Re: Good town to stop on I-81

As far as I'm concerned the whole stretch of I-81 in Virginia is a series of surprisingly nice towns (maybe I just had low expectations before getting to know them better). If you're looking smaller, Strasburg (near where I-66 east meets I-81) is adorable and has some cute (from the outside) B&Bs (n...
by Lars_2013
Sun May 05, 2019 8:56 pm
Forum: Personal Investments
Topic: OH no, ANOTHER "Should I pay off my Mortgage with Taxable acct" question, with a bit of a twist?
Replies: 40
Views: 4503

Re: OH no, ANOTHER "Should I pay off my Mortgage with Taxable acct" question, with a bit of a twist?

As mentioned, upon retirement I anticipate between approximately $3,100 and $3,500 a month in pension income. Do you know what the income levels are to avoid capital gains taxes? Granted there is a great chance it will be different 12 years from now. If you're single and your taxable income is unde...
by Lars_2013
Tue Apr 09, 2019 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: How do you find a non-profit job?
Replies: 4
Views: 549

Re: How do you find a non-profit job?

Are there nonprofits that whose mission you agree with and that perhaps you've been supporting financially? I'd look around on their websites for job openings and, whether or not they have something open, request an informational interview with someone in leadership to chat about your interests, the...
by Lars_2013
Fri Mar 29, 2019 7:50 pm
Forum: Personal Consumer Issues
Topic: Lifecare community - worth it?
Replies: 33
Views: 2483

Re: Lifecare community - worth it?

Some CCRCs will only accept new residents at the Independent Living level, the higher levels of care being intended for residents to age into. One argument to get these "younger" elders to move in is that they will have opportunities to build a circle of friends among the other residents. I am keep...
by Lars_2013
Fri Mar 29, 2019 5:47 pm
Forum: Personal Consumer Issues
Topic: Lifecare community - worth it?
Replies: 33
Views: 2483

Re: Lifecare community - worth it?

I think they make sense if you're at an advanced age or health status where the availability of restaurants and other services on-site, someone who will check on each resident each day (using a system to make sure you've opened the door by a certain time of day), activities that you can get to witho...
by Lars_2013
Sun Mar 17, 2019 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone from Maryland? How property tax affects MD taxes
Replies: 3
Views: 428

Re: Anyone from Maryland? How property tax affects MD taxes

Here's the official website from the State of Maryland on the credits. It's fairly straight-forward. https://dat.maryland.gov/realproperty/P ... ogram.aspx

If your property tax is $10k, my guess is your gross household income is over the $60k limit for relief.
by Lars_2013
Sun Mar 10, 2019 7:05 pm
Forum: Personal Investments
Topic: Generating income from Amazon Stock, raising cost basis and more
Replies: 8
Views: 824

Re: Generating income from Amazon Stock, raising cost basis and more

Why do you need to raise the cost basis? Assuming Amazon continues to not pay dividends, why not just sell whatever number of shares you desire to generate the income you want rather than raising the tax basis on all of the funds?
by Lars_2013
Sat Mar 09, 2019 2:30 pm
Forum: Investing - Theory, News & General
Topic: Grantham: US will return 2% real next 2 decades
Replies: 173
Views: 18281

Re: Grantham: US will return 2% real next 2 decades

Well, that would be no good. I need 4% returns to retire in 15 years. 2019: $75,000 * 1.04 + $20,000 = $98,000 2020: $98,000 * 1.04 + $24,000 = $125,920 2021: $125,920 * 1.04 + $24,000 = $154,956 2022: $154,956 * 1.04 + $24,000 = $185,154 2023: $185,154 * 1.04 + $24,000 = $216,560 2024: $216,560 * ...
by Lars_2013
Sun Mar 03, 2019 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should we move
Replies: 24
Views: 2542

Re: Should we move

The main problem I see with the new house that's a shorter commute for you is that it's (effectively) a longer commute for your stay-at-home spouse every time she needs to run to the grocery store, etc. With 2 or 3 kids in the car. Unless you're going to take on more of the errands with some of your...
by Lars_2013
Sat Aug 25, 2018 11:22 am
Forum: Investing - Theory, News & General
Topic: IRA contribution limits
Replies: 4
Views: 1373

Re: IRA contribution limits

The limits are adjusted for cost-of-living with the caveat that they're rounded down (I believe) to the nearest $500. I think the COLA is required to be calculated similarly to the Social Security COLA, which uses CPI-W.
by Lars_2013
Sun Aug 19, 2018 1:40 pm
Forum: Personal Investments
Topic: Sell taxable to increase basis?
Replies: 5
Views: 478

Re: Sell taxable to increase basis?

TomatoTomahto beat me to it. Check out the wiki article on tax-gain harvesting . Looks like that article needs some updating for the new tax law. Rather than saying "Up to the top of the 15% bracket, in order to take advantage of the 0% capital gains tax rate for this bracket" it should say somethi...
by Lars_2013
Mon Apr 09, 2018 8:40 pm
Forum: Personal Consumer Issues
Topic: Anyone tried a sunrise alarm clock?
Replies: 55
Views: 6379

Re: Anyone tried a sunrise alarm clock?

I've had the Philips HF 3520 for 5 years. I don't like using it as a bedside light in the evening, but it does a great job in the morning. The light itself sometimes isn't quite enough to get me up, but when the bird chirping starts I'm not startled awake like with a regular alarm - so I think the ...
by Lars_2013
Sun Mar 25, 2018 5:01 pm
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 4447

Re: SE Washington DC job - where to live?

Falls Church City, speaking as a resident, is low crime, walkable, family friendly, excellent schools, and very civic minded. A modern version of Mayberry. Yes, Falls Church is one of the highest-income localities in the country and has excellent schools. But it's not where I'd recommend a 20-somet...
by Lars_2013
Sun Mar 25, 2018 4:59 pm
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 4447

Re: SE Washington DC job - where to live?

Unless she really wants to live by herself, I suggest she reach out to her new employer to see if they have a network for connecting staff to housemates and maybe rooms for rent in homes of other staff. I don't know any young adults in the DC area who live by themselves because it's simply too expe...
by Lars_2013
Wed Mar 21, 2018 9:02 am
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 4447

Re: SE Washington DC job - where to live?

Unless she really wants to live by herself, I suggest she reach out to her new employer to see if they have a network for connecting staff to housemates and maybe rooms for rent in homes of other staff. I don't know any young adults in the DC area who live by themselves because it's simply too expen...
by Lars_2013
Fri Feb 16, 2018 9:00 pm
Forum: Personal Consumer Issues
Topic: Summer Camps in Maine
Replies: 6
Views: 847

Re: Summer Camps in Maine

I'm not sure what experience your kids are going for in wanting a Maine camp, since as others noted there's a lot of variety. The New England camp about which I've heard the consistently best reviews (from friends who were campers, counselors, and parents) is Farm & Wilderness, but that might be sel...
by Lars_2013
Thu Jan 25, 2018 11:54 am
Forum: Investing - Theory, News & General
Topic: The Power of Working Longer
Replies: 185
Views: 21384

Re: The Power of Working Longer

This is just bad math. The people who created it should be ashamed that they would publish such blatant lies. They claim 6months = 1% savings? They are saying that retiring 5 years later will allow you to save 10% less of your salary per year. That is just fiction. I can assure you that if you can ...
by Lars_2013
Wed Jan 24, 2018 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Impact of "name change" on financial accounts?
Replies: 13
Views: 1129

Re: Impact of "name change" on financial accounts?

An immigration lawyer is probably who you need to talk to. That said, I would guess that if she's living/working in the U.S. with a foreign passport and a green card that have MiddleName Firstname Lastname, it's going to be a lot of work / money to get that changed and it will be easiest to get othe...
by Lars_2013
Sun Jan 14, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Uber experience as worker?
Replies: 16
Views: 2104

Re: Uber experience as worker?

MMM wrote a pretty detailed review of his experiment driving for Uber: http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-uber-driver/ FWIW, most drivers in my town drive for both Uber and Lyft and most report that they like Lyft better. They say Lyft treats their drivers in a more upfront ...
by Lars_2013
Sun Jan 14, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: Looking for a reasonably priced, safe international destination
Replies: 107
Views: 8381

Re: Looking for a reasonably priced, safe international destination

I was thinking Iceland. Any other destinations that fit this bill? With little kids, I'm not sure I'd classify Iceland as a safe destination. It's rough terrain and tourists sometimes die there (arguably from doing stupid things, but little kids don't have a lot of common sense). It's one place whe...
by Lars_2013
Thu Jan 04, 2018 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Timing tax-deferred contributions when also bunching deductible expenses
Replies: 8
Views: 690

Re: Timing tax-deferred contributions when also bunching deductible expenses

I have a similar situation near 12%/22% bracket line, except I'll probably only itemizing every 4-5 years. My goal is to almost completely fill the 12% ordinary income tax (0% qualified dividends/capital gains) bracket while not exceeding it each year. In order to stay in the 12% ordinary income tax...
by Lars_2013
Wed Dec 27, 2017 10:30 am
Forum: Personal Consumer Issues
Topic: Diamonds are forever.
Replies: 94
Views: 11497

Re: Diamonds are forever.

Also not sure about how best to "upgrade" with DW being somewhat superstitious about just wearing a new ring. Does DW actually want this "upgrade" or is she happy with her existing ring? A big bling-y ring will cause people to make all sorts of assumptions about her, which she might or might not wa...
by Lars_2013
Wed Dec 27, 2017 9:20 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax Prices
Replies: 302
Views: 42979

Re: TurboTax Prices

TurboTax Premier (fed + efile + state) is currently $55 on Amazon. Last year I think that was the lowest it got.
by Lars_2013
Wed Dec 27, 2017 9:14 am
Forum: Personal Investments
Topic: Can I afford a $600-650k house?
Replies: 60
Views: 9164

Re: Can I afford a $600-650k house?

DC area, house prices continue to increase and were not hit too hard in the last recession. This is in large part because the big stimulus bill in 2009 (ARRA) helped prop up employment in the DC area, which in turn helped drive population growth in the area during the recession, buoying home prices...
by Lars_2013
Tue Dec 26, 2017 9:18 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1449

Re: Problem donating VTSAX shares to Schwab Charitable

I just got off the phone with Vanguard and they said the reason they sold the shares and cut a check was because the delivery instructions they received from Schwab didn't include the DAF number and "usually" when it doesn't include a DAF number that means a check is supposed to be sent. In looking ...
by Lars_2013
Sat Dec 23, 2017 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Will you donate less to Charity?
Replies: 109
Views: 9880

Re: Will you donate less to Charity?

I'm among the many folks who will no longer benefit from itemizing in 2018 and the following several years, at least. I've set up and am pre-funding a DAF with 4-5 years worth of charitable donations precisely because I don't want to give less to charity in future years and know that many of the sma...
by Lars_2013
Sat Dec 23, 2017 10:05 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1449

Re: Problem donating VTSAX shares to Schwab Charitable

...when I want to contribute some my appreciated shares of Vanguard Admiral funds held in my Schwab taxable account to my Schwab DAF, it is smooth as silk to contribute the shares I want to contribute, because it is all within Schwab at that point. Yeah, through this process I'm definitely getting ...
by Lars_2013
Sat Dec 23, 2017 10:03 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1449

Re: Problem donating VTSAX shares to Schwab Charitable

In the future initiate the transfer at Vanguard not Schwab Charitable. Use Vanguard's form for charitable contribution of securities and put the transfer data provided by Schwab Charitable onto Vanguard's form. Call Vanguard immediately (probably Tuesday). I don't know if they can reverse and corre...
by Lars_2013
Sat Dec 23, 2017 9:33 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1449

Problem donating VTSAX shares to Schwab Charitable

In November I set up a DAF at Schwab Charitable and completed their Transfer of Assets form to ask them to transfer a certain number of shares of Vanguard Total Stock Market admiral shares (held at Vanguard) from a certain lot (which had my lowest cost basis) to my new DAF at Schwab (using section 3...
by Lars_2013
Sat Dec 09, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Taxes and Rental Income from Live-In Significant Other
Replies: 8
Views: 2183

Re: Taxes and Rental Income from Live-In Significant Other

I agree with others that you can safely not report this on your tax returns. If for some reason you want to do so, it would probably be considered "Renting Part of Property" and would be reported on Schedule E per the instructions in Pub. 527. https://www.irs.gov/publications/p527 A part of your hou...
by Lars_2013
Mon Dec 04, 2017 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Is This How the ACA Can Help Me?
Replies: 10
Views: 1439

Re: Is This How the ACA Can Help Me?

Will the government need to see my 2017 return? (which shows much higher income because of the IRA distribution) The income and other numbers you enter on the form when signing up for a 2018 healthcare plan are used to estimate the size of tax credit you will qualify for in 2018. This is then provi...
by Lars_2013
Thu Nov 23, 2017 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Passing the second SSA Bend Point - Reversible?
Replies: 53
Views: 5637

Re: Passing the second SSA Bend Point - Reversible?

This means that your total earnings are all that really matters. So if you have enough total earnings to pass the 2nd bend point, then you've passed in forever even if you have a bunch of $0 income years counted in your highest 35 earning years. Based on the bend points posted here once you have pa...
by Lars_2013
Sat Nov 18, 2017 6:36 pm
Forum: Personal Consumer Issues
Topic: Has used furniture dropped in value dramatically?
Replies: 119
Views: 14855

Re: Has used furniture dropped in value dramatically?

As a member of the generation after "The Greatest Generation" I think we are referred to as "The Silent Generation" at age 81. I think many of us might have safety concerns when listing "stuff" for sale somewhere and having people come to and into our homes to view and possibly purchase items. Is t...
by Lars_2013
Thu Nov 02, 2017 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: A tax planning question about the proposed GOP tax plan
Replies: 7
Views: 1353

Re: A tax planning question about the proposed GOP tax plan

According to the current version of the House bill, yes, that provision goes into effect for taxable years beginning after December 31, 2017. https://waysandmeansforms.house.gov/uploadedfiles/bill_text.pdf I will refrain from commenting on the likelihood of that provision remaining in the bill, sinc...
by Lars_2013
Sun Oct 29, 2017 1:14 pm
Forum: Personal Consumer Issues
Topic: Megabus from New York City to Washington DC
Replies: 23
Views: 2304

Re: Megabus from New York City to Washington DC

I ride megabus a fair amount. It's a bus, with all the annoyances that entails (don't plan to use the bathroom on the bus), but is generally a less chaotic experience than chinatown buses (which I also ride). The farther in advance you buy a megabus ticket, the cheaper the seat is likely to be. I al...
by Lars_2013
Fri Oct 27, 2017 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Can I retire today?
Replies: 132
Views: 11149

Re: Can I retire today?

Others have said it--you have enough money to retire. The only think I'll add is to make sure you provide whatever notice is required for the pension :) .
by Lars_2013
Mon Oct 09, 2017 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Please look at my financial situation and give me your insights
Replies: 21
Views: 3014

Re: Please look at my financial situation and give me your insights

You probably don't have enough money for your wife to retire yet. There's a three-year gap until you claim SS and seven years for her. That gap will eat up a lot of your portfolio, and even after you are both receiving SS you'll need portfolio withdrawals of about $44k/year. That results in a much h...
by Lars_2013
Wed Sep 20, 2017 5:34 pm
Forum: Personal Consumer Issues
Topic: Getting (young) kids interested in coding
Replies: 81
Views: 7245

Re: Getting (young) kids interested in coding

I have no idea what is available/useful these days. Here's some comparatively ancient history. My older brother taught himself to read at age 3 in part by copying simple programs into our TI-99/4A to do things like make the screen change colors, etc. Later we both learned and used basic for simple t...
by Lars_2013
Sun Sep 03, 2017 10:20 pm
Forum: Personal Investments
Topic: Couple in early 30s, any changes?
Replies: 28
Views: 4678

Re: Couple in early 30s, any changes?

Without knowing your goals, desired asset allocation, etc, it's hard to provide feedback on your asset allocation. Also, when you say "stocks" in your 401k, that's not very specific. Is that in a fund that tracks the S&P500 index? Total US stock market? Something else? At a glance, your internationa...
by Lars_2013
Sun Sep 03, 2017 5:36 pm
Forum: Personal Finance (Not Investing)
Topic: How old were you when you got your first credit card?
Replies: 46
Views: 3749

Re: How old were you when you got your first credit card?

I was made an authorized user on one of my father's cards at age 16 when I got my license (in the late 1990s) so I could use pay-at-the-pump. I also got a debit card off my checking/savings account for similar purposes. I think I got my first rewards credit card (for the points) after college, but I...
by Lars_2013
Sun Aug 27, 2017 4:46 pm
Forum: Investing - Theory, News & General
Topic: Demographic Headwinds for Stocks and Bonds?
Replies: 47
Views: 6365

Re: Demographic Headwinds for Stocks and Bonds?

The population trends look a bit less dire if you look at the world as a whole, rather than this selection of (high population, economically important) countries. World working-age is projected by the U.N. to continue increasing through 2100, driven by high growth in sub-Saharan Africa. Whether that...
by Lars_2013
Sun Aug 27, 2017 3:59 pm
Forum: Personal Investments
Topic: Should I be doing more
Replies: 8
Views: 1547

Re: Should I be doing more

Your current asset allocation is a lot more aggressive than your stated desired asset allocation. In terms of whether you have enough, I don't think we can know that with the information you provide. Without knowing your current (or projected retirement) expenses, it's hard to project whether your c...