Search found 18401 matches

by Jack FFR1846
Wed Mar 27, 2024 4:39 pm
Forum: Personal Investments
Topic: Idea of buying land for family restaurant
Replies: 23
Views: 1331

Re: Idea of buying land for family restaurant

For an investor's point of view, I'd think that one of 2 things needs to be true. Either the land and building can be made into a sellable package for more than the buy price plus a new building would cost. Or if the buyer keeps the building and your parents as renters, at $2M, a minimum rent to even consider this would be $20k a month. Are your parents paying $20k a month? If they're not, and are, to throw out a number, paying $5k a month, then the owner has a huge incentive to dump this turd that he could make more taking out an SPIA and not have to do any work.
by Jack FFR1846
Wed Mar 27, 2024 8:37 am
Forum: Personal Consumer Issues
Topic: Amazon "eligible for return" cost
Replies: 29
Views: 1857

Re: Amazon "eligible for return" cost

I have found Amazon's policy completely reasonable. 2 times (that's all I ever did) returns as follows. 1) a clutch for a Husqvarna chain saw. It did not fit. Clearly wrong even though I ordered per the chainsaw model number. I brought it with the tag to UPS and did not even have to package it. 100% refund. 2) I bought 2 throw weights with line for setting up lines in a tree for lumbering. When I got them, I checked one in my line shooter (think a PVC pipe) and it was too big. I returned the 2nd one and was refunded minus the free shipping cost if it wasn't free. I felt this was 100% reasonable. Why should the vendor pay for shipping 2 ways when I didn't simply buy one to figure out if the size would work or not. So the 2 cost $35 and I got...
by Jack FFR1846
Wed Mar 27, 2024 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Understanding advantages of ESPP qualifying disposition status, when is waiting to sell worth the risk
Replies: 8
Views: 464

Re: Understanding advantages of ESPP qualifying disposition status, when is waiting to sell worth the risk

ALWAYS sell immediately if allowed. 2 scenarios for me. 1) I didn't think I started the job early enough to get the ESPP. I did. By the time I figured this our, my buy price had been $48 a share and since I had filled out the paper work, I bought at $48 a share, which was 15% under the lower of the start and end of the 6 month buying period. The price, 7 months later when I looked at it? $12. Boy, I could wait and get such a tax.....oh wait. 2) My last job. Every 2 years, they set the price by 15% below the lowest of the beginning and end of the 6 month period. That price would then stick for 2 years. So the first period, I got at least 15% off. By the end of that 2 year period, where we got the last time buy at that price from 2 years ago,...
by Jack FFR1846
Wed Mar 27, 2024 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Take Social Security Now?
Replies: 47
Views: 2357

Re: Take Social Security Now?

If you have a lot in your 401k or tIRA, when you get to RMD age, you will get the double whammy of being pushed into a higher tax bracket and potentially having to pay the IRMAA penalty every year, both of you for Medicare. I'm in that boat so am Roth converting big time and both DW and I are waiting until 70 to take social security.
by Jack FFR1846
Tue Mar 26, 2024 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: How many credit cards do you have
Replies: 89
Views: 4080

Re: How many credit cards do you have

I have about 3 dozen. I actively use about 5. I sell tradelines on about 10. I get low balance forgiveness on about 7. Some are baking for future tradeline sales. Some were acquired to get the bonus for getting it and maybe spending so much in so much time. I see zero reason to cancel any of them. If you think this many reduces my credit score, it's 831, so no, it doesn't. Between my wife and myself usually 3 -4, but over the years we have opened and closed over 80. Our credit scores are a tad lower, in the 820-ish range. What do you mean by "selling a tradeline" ? Addendum: I found the answer ^^ No way. That is a ticket to Hades Yeah that’s a bridge too far. Putting strangers on your card, to boost their score, for a few, just s...
by Jack FFR1846
Tue Mar 26, 2024 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: How many credit cards do you have
Replies: 89
Views: 4080

Re: How many credit cards do you have

I have about 3 dozen. I actively use about 5. I sell tradelines on about 10. I get low balance forgiveness on about 7. Some are baking for future tradeline sales. Some were acquired to get the bonus for getting it and maybe spending so much in so much time. I see zero reason to cancel any of them. If you think this many reduces my credit score, it's 831, so no, it doesn't.
by Jack FFR1846
Tue Mar 26, 2024 3:28 pm
Forum: Personal Investments
Topic: I think my Mom, recently widowed, is looking at a tax bomb
Replies: 28
Views: 4829

Re: I think my Mom, recently widowed, is looking at a tax bomb

I would think that with 2024 and 2025 being the last of the low tax years....
and your mom for tax year 2024 filing a joint tax return....
She would want to Roth convert up to just below the IRMAA limit. I don't know how the limit works when your spouse passes. If she can still consider 2024 to be MFJ for Medicare, then that's like $200k. Trying to stay in the 10% bracket is sort of silly in my opinion.
by Jack FFR1846
Tue Mar 26, 2024 7:34 am
Forum: Personal Investments
Topic: buying mutual funds seems easier than buying ETFs
Replies: 64
Views: 4875

Re: buying mutual funds seems easier than buying ETFs

What price will you pick up VTSAX by placing an order tonight, after hours? The answer is really that you have no clue whatsoever. Yes, you can define the dollars invested but you have no control over the price per share. I buy ETFs only in taxable. I set my limit. I determine what I'll pay per share. And I can set it to stay open waiting for the price for many days. If the market does take a short dip, it may have enough open sell orders to fill my buy order. If that's the case, I get a better price than you could possibly get buying a mutual fund. This strategy can work with high volume ETFs or low volume ETFs or, of course, with stocks. I see mutual fund buying as sort of handing over the money and closing my eyes, not knowing the price ...
by Jack FFR1846
Tue Mar 26, 2024 7:22 am
Forum: Personal Consumer Issues
Topic: Aruba restaurants
Replies: 16
Views: 954

Re: Aruba restaurants

We always go to Papiamento. Known for cooking steak on a stone which from a practical standpoint, you can leave it there for a short time for medium rare and longer for well done. In a residential area with inside tables and outside around the pool. Been there a dozen times. You will need reservations.

La Cucina is quaint and small. From memory, you have a small room to yourself. Only been there a few times.
by Jack FFR1846
Mon Mar 25, 2024 5:55 pm
Forum: Personal Consumer Issues
Topic: Car Totaled - Insurance Options
Replies: 22
Views: 1454

Re: Car Totaled - Insurance Options

If it still drives and can legally be on the road, keep it. Pocket the money. Since it's left in the lot where it got hit, there's certainly a chance it gets hit the same way. It has all the safety features I would want (seat belts). It will likely outlast lots of cars that are brand new today.
by Jack FFR1846
Mon Mar 25, 2024 7:16 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house after divorce
Replies: 3
Views: 667

Re: Buying a house after divorce

If you're talking about $5,000 a month on a $1M house, then that's a renter's paradise. Typically, a landlord sitting on that is losing tons of money because it's only 1/2 the minimum 1% a month rent. If you're talking renting a $500k or less house for that $5,000, then it's more reasonable and I'd ask why you'd be buying a $1M house if you could rent a house worth half that? If you do decide to buy, buy a smaller, less expensive house and it will cost less (obviously).
by Jack FFR1846
Sun Mar 24, 2024 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: Going Back to Work Numbers
Replies: 18
Views: 2463

Re: Going Back to Work Numbers

Some people are cut out to retire, some aren't ready yet and some never will be. I'm in the first group and if I was offered a job at $2000 an hour and 40 hours a week, I'd laugh and walk away. I retired last June and wish I had done so at least 5 years earlier.
by Jack FFR1846
Sun Mar 24, 2024 9:47 am
Forum: Personal Finance (Not Investing)
Topic: To ROTH / Not to ROTH with uncertain income outlook
Replies: 14
Views: 1220

Re: To ROTH / Not to ROTH with uncertain income outlook

When working, I always assumed my retired tax bracket would be way below my working tax bracket. I'd like to go back in time to laugh in my past self's face and say "As If". Now that I'm retired, my traditional IRA balance, and DW's are making large Roth conversions reasonable in order to avoid mega RMDs in the future. But I'm on Medicare so am keeping our conversions below the IRMAA limit to avoid high extra costs monthly on Medicare premiums. And don't forget that the Federal tax brackets go up 2 to 3% for most of the brackets in 2026. With all that initial information, if I had it to do over again, I'd have skipped a lot of the 401k. Probably just going to that needed to get my employer's match and started the Roth way earlier....
by Jack FFR1846
Sun Mar 24, 2024 6:00 am
Forum: Personal Consumer Issues
Topic: Pressure Washer
Replies: 20
Views: 1582

Re: Pressure Washer

For your needs, a Greenworks 1800 should do what you want. I was looking for one and talking before a meeting at work. Several co-workers said they had this one which is everywhere (Lowes is where I bought it) for under $100. I later bought extension wands and a rotary device to clean moss off a roof and I've been happy that these things are pretty universal so you can buy whatever you need.
by Jack FFR1846
Fri Mar 22, 2024 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: 12 months before retirement what do you wish you had done
Replies: 71
Views: 8556

Re: 12 months from retirement what do you wish you had done

Stubbie wrote: Fri Mar 22, 2024 8:06 pm 12 months from retirement I wish I would have retired then instead of waiting 12 more months.
Yah, but I'd replace 12 months with 5 years.

I'd have also started doing Roth conversions like 10 years back.
by Jack FFR1846
Fri Mar 22, 2024 4:01 pm
Forum: Personal Investments
Topic: Inheritance
Replies: 16
Views: 2028

Re: Inheritance

As cadreamer2015 says, moving "IN KIND" is the way to incur NO TAX for the movement. Once moved, if you don't like any of the stocks, funds or investments and decide to sell, that's when taxes occur. Something worth noting: Say you have to pay 75% tax on something, someday. That means you got 25% of it that you didn't have before and that's free and clear. I think people get all wound up about having to pay taxes. Also remember that federal taxes go up in 2026, so if you procrastinate into the 2026 tax year, you'll pay even more taxes on things you wish to sell. I also remind myself of the Eisenhower days when the top Federal tax bracket was 93%. Today, the top tax bracket is half that. Big Whigs get to pay nothing in comparison t...
by Jack FFR1846
Fri Mar 22, 2024 10:44 am
Forum: Personal Investments
Topic: Advice on Moving Out of High-Fee Managed Account
Replies: 12
Views: 908

Re: Advice on Moving Out of High-Fee Managed Account

Moving all the stocks and those S&P funds over in kind are pretty easy. Once at Fidelity, you jettison that stupid AUM and stocks cost nothing to just hold. If you believe that the cap gains tax will be too much, then either don't sell or just sell a very small amount. For the S&P funds, that depends. What's the ER on them. I know that at some old school places like maybe a bank or Raymond James or the like, S&P funds can have some outrageous ER. If they do, then consider selling them instead of any stocks. If you feel you have to only do a little, then do that. Remember, though that the tax rates go up in 2026 so even selling and paying a higher bracket now might be way cheaper than waiting for the tax rise in 26.
by Jack FFR1846
Fri Mar 22, 2024 10:35 am
Forum: Personal Finance (Not Investing)
Topic: At what age to tell child about family's finances
Replies: 74
Views: 6101

Re: At what age to tell child about family's finances

This can be all over the map.

DW and I plan on "never". They'll find out when the will is executed.

My mom asked that I sit with her financial guy 5 years ago when she was 83.

My father in law told DW and her sister absolutely nothing and even at 92 refused to tell them anything. Now, at 93 and in Hospice, he's given in because the Hospice facility bill needs to be paid along with all other bills.

There is no right answer here.
by Jack FFR1846
Fri Mar 22, 2024 9:46 am
Forum: Personal Investments
Topic: Schwab Think or Swim requires settled funds to place buy order?
Replies: 5
Views: 575

Re: Schwab Think or Swim requires settled funds to place buy order?

Can you move the money from your MM account to whatever account you're buying in?

I moved money at 8 this morning from my credit union into Schwab and at 10am, I bought stock. It's clearly not settled and if I go to pull out the remainder (I bought stock, so not a set dollar amount), I'll have to wait until next Wednesday.
by Jack FFR1846
Fri Mar 22, 2024 9:42 am
Forum: Personal Finance (Not Investing)
Topic: SS benefits - apply online, BUT still must go in to office [UPDATE]
Replies: 23
Views: 2505

Re: SS benefits - apply online, BUT still must go in to office [UPDATE]

Between DW and me for both social security and Medicare IRMAA, I found that to actually have any form accepted and acted on, I would have to:

1) Apply online with PDFs of everything needed
2) Mail application with all supporting documentation
3) Call SS or Medicare and confirm the form is now in their system (which it won't be)
4) personally visit the ss office
5) Call again and confirm that nothing is in the system
6) Mail another form with all supporting documentation
7) Give up
8) A letter arrives confirming whatever the original form was asking for. Time from beginning to end in my experience is about 9 months. This has occurred for 2 or 3 different things where forms were sent in.
by Jack FFR1846
Fri Mar 22, 2024 6:54 am
Forum: Investing - Theory, News & General
Topic: Do you hold Canada fund because it is missing in your international stock fund?
Replies: 21
Views: 1814

Re: Do you hold Canada fund because it is missing in your international stock fund?

I hold what Jack Bogle held. US Stock and US Bond. Name a US company that doesn't do any business internationally. That was Jack's explanation and I completely agree. This never made a lick of sense. This would be like not investing in California companies like Apple because Walmart has stores in California. Does that strike you as sensible? The point isn’t to have access to revenue in those countries , it to have access to the earnings of the companies in those countries Does it make sense? Yes it does. Tell me....where is most of the "good old boy" Texas Instruments business. It's not in the US. So by buying TI, you get tons of European exposure as well as the obvious far east exposure. You might retort that TI has fabs mainly ...
by Jack FFR1846
Thu Mar 21, 2024 9:55 pm
Forum: Investing - Theory, News & General
Topic: Do you hold Canada fund because it is missing in your international stock fund?
Replies: 21
Views: 1814

Re: Do you hold Canada fund because it is missing in your international stock fund?

I hold what Jack Bogle held. US Stock and US Bond. Name a US company that doesn't do any business internationally. That was Jack's explanation and I completely agree.
by Jack FFR1846
Thu Mar 21, 2024 11:50 am
Forum: Personal Finance (Not Investing)
Topic: In-laws 529 for grandkids, bite my lip or say something?
Replies: 58
Views: 5895

Re: In-laws 529 for grandkids, bite my lip or say something?

Perhaps they're taking advantage of their state's tax savings for putting money into 529's. My mom and dad did 529's for our kids (very small) and the sales charge was 6.75% with all ERs over 1%. So these charges you talk about aren't horrible. Well, they are but you're not paying them. When your kids start college, simply ask for a 529 account check be made to the college and have a nice day.
by Jack FFR1846
Thu Mar 21, 2024 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Which loans to pay off, advice
Replies: 21
Views: 1488

Re: Which loans to pay off, advice

There are 2 very common methods for general debt payoff.

Snowball: Pay the smallest balances first. This is good for if you have no willpower or focus on reducing debt.

Avalanche: Pay the highest interest rate debt first. This is mathematically the most effective way to pay down debt.

I'd also mention that you're making nothing on your rental and should consider selling. In general, if you can't make at least 1% of the property value in rent a month, then it's a dog as a rental and you should sell it. You're not even close, so it would help you a lot in debt reduction to sell that dog and put the money towards other debt or if you decide, to invest it.
by Jack FFR1846
Thu Mar 21, 2024 11:09 am
Forum: Personal Finance (Not Investing)
Topic: Do I need a buyer's agent when seller is a realtor?
Replies: 69
Views: 5279

Re: Do I need a buyer's agent when seller is a realtor?

If you're buying with a mortgage, contact the bank's attorney and ask that they also represent you. We did this multiple times and it is "wicked cheap" and we were well protected. A real estate agent will do what, exactly? At most, they'll show up to the closing with their hand out for their commission check from the seller. They add nothing and take away everything in this situation. We bought twice from owners with no real estate agents involved including the house I'm sitting in today. The attorney did a great job including a complete title search back to the King, and no, I'm not kidding.
by Jack FFR1846
Thu Mar 21, 2024 7:18 am
Forum: Personal Investments
Topic: Can I Retire?
Replies: 11
Views: 2348

Re: Can I Retire?

Put together a "retirement spending" list. This can be wildly different from your "while working" spending list. As you're self employed, you probably have a good handle on your health insurance costs which will help tremendously. I spent 5 years updating my list. We spent $50k a year while working and now retired, spend $75k, so it went up 50%, mostly on health care because we were on a cheap workplace group insurance for the family. I would not assume home value or business value until they are sold. You can't take 4% out of either while they're being used. Businesses sometimes sell for far less than expected. After my dad passed, my mom spent 3 years selling the family business which included a 2 story 150 year old fo...
by Jack FFR1846
Wed Mar 20, 2024 5:42 pm
Forum: Personal Consumer Issues
Topic: Due diligence in buying used low mileage CPO car
Replies: 16
Views: 1291

Re: Due diligence in buying used low mileage CPO car

If you buy a CPO Subaru, you get the factory Subaru Gold warranty for 100k miles and some number of years. If you buy a CPO Subaru at a Toyota, the CPO nomenclature is meaningless. My first question would be "What's that CPO give me?". At most, they'll include some aftermarket warranty where the company goes out of business every 3 years. Worse, they give you a "dealer warranty" where they'll fix stuff but only at that dealer. Having the car checked by your independent mechanic is a great idea. And absolutely find out what a new identical car will cost. People all too often assume that a used car is going to be cheaper. Car dealers tend to make a few hundred dollars on new car sales. Used, typically $2000 to $3000 so for...
by Jack FFR1846
Wed Mar 20, 2024 4:45 pm
Forum: Personal Consumer Issues
Topic: Bought a new Lexus - can't get a second key for 3-5 months???
Replies: 54
Views: 6121

Re: Bought a new Lexus - can't get a second key for 3-5 months???

I would not be surprised to ultimately learn that a specific integrated circuit chip used in the keys could not be obtained by Lexus/Toyota in their normal supply chain, so instead of giving everyone 2 keys and stopping sales of cars because of lack of keys for them that they made the decision to give everyone one key and to use the chips for the 2nd keys in the first keys of new cars they intend to sale. The chip shortage is long over. I'm retired from a chip company (every single Apple Car Play car has at least one of our chips) and met a coworker Monday while getting lunch. Not only are lead times completely back to normal, orders are way down. So much so that the company shut down all the fabs for 2 weeks. They also forced all employee...
by Jack FFR1846
Wed Mar 20, 2024 3:14 pm
Forum: Personal Finance (Not Investing)
Topic: How would you estimate Medicare costs for us?
Replies: 11
Views: 1071

Re: How would you estimate Medicare costs for us?

Premiums and copays can change pretty dramatically year to year. The drug plan premium is only part of the cost. After the deductible, you'll have a copay that is determined by the drug level. In addition, one drug plan could have one drug at 0 while another is $49 a month. Medicare.gov has some pretty good comparison tools although they are not at all easy. If you see a drug on TV, expect it to cost on the order of $10 a pill. There is also the infamous "doughnut hole" which occurs once the total drug costs exceeds around $5k. So it matters even if your TV drug is only $1 a pill because Medicare is paying $2,000 a month. Once that number hits the doughnut hole, the copay approximately triples. You can get out of the doughnut hole...
by Jack FFR1846
Wed Mar 20, 2024 2:21 pm
Forum: Personal Consumer Issues
Topic: Restaurant / takeout food orders - "mechanics"
Replies: 16
Views: 1253

Re: Restaurant / takeout food orders - "mechanics"

There was an article maybe a year ago that talked about lots of restaurants opting out of these delivery services. In addition to charging you more for the menu items, they pay the restaurant less than what they normally charge.
by Jack FFR1846
Wed Mar 20, 2024 6:53 am
Forum: Personal Consumer Issues
Topic: How does a landline phone decrease my bundle cost
Replies: 52
Views: 3317

Re: How does a landline phone decrease my bundle cost

For a decade, we had Fios triple play and every time I tried to remove the land line to save money, I found that they put plans together like this: 3 bundles of TV channels 50/50 internet phone Say $150 If I want only TV and internet, the lowest internet level is 100/100 and as a 2 play bundle: $200 I think Verizon (owner of FIOS) has had too many people trying what I did and either going to internet only or going with another provider. At my last try, they did have a 2 play cheaper than 3. Not by much. And of course, it was more expensive than the past bundle was. The other thing they always do is they swap around channels in the bundles. So it used to be that in one bundle, I got History and 3 other channels I always watch plus of course ...
by Jack FFR1846
Tue Mar 19, 2024 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: What did you do today to increase your income? [Financial]
Replies: 64
Views: 4235

Re: What did you do today to increase your income?

I'm also retired but did another Roth conversion, then sent in estimated tax payments to cover this. Technically, a Roth conversion is income, so I made a quick $50k according to the IRS. Does that count?
by Jack FFR1846
Tue Mar 19, 2024 5:18 pm
Forum: Personal Consumer Issues
Topic: Used Tesla shoppers: Quality?
Replies: 48
Views: 3787

Re: Used Tesla shoppers: Quality?

Test drive and have a mechanic look it over. In particular, absolutely mash the brakes. With regen doing so much of the braking in normal driving, calipers will seize up. This is not just a Tesla thing, cars that sit around could have this happen. My Jeep that's a 4th vehicle had one caliper seize up a month ago. Of course, for the Jeep, it was a $60 replacement, in stock at NAPA. I'd expect Tesla calipers to be many more times as expensive, only available if you bring the car to a Tesla service center and who knows how long before you get the parts.
by Jack FFR1846
Tue Mar 19, 2024 4:43 pm
Forum: Personal Investments
Topic: Dividend shock: Help me reduce dividends
Replies: 30
Views: 4027

Re: Dividend shock: Help me reduce dividends

Hayden wrote: Tue Mar 19, 2024 4:32 pm
Jack FFR1846 wrote: Tue Mar 19, 2024 4:24 pm I'll tell you what I'm doing as I've retired and gone on Medicare and am also doing big Roth conversions.

Anything that pays dividends or interest is being sold. I'm buying BRK/b. Simple as that. The end.
my next step is to calculate the Roth conversions. I've downloaded the Retiree Portfolio Model. Is there a better program you would recommend to calculate the Roth conversion amount?
I found RPM too complex for me. I just do my own simple calculations.
by Jack FFR1846
Tue Mar 19, 2024 4:24 pm
Forum: Personal Investments
Topic: Dividend shock: Help me reduce dividends
Replies: 30
Views: 4027

Re: Dividend shock: Help me reduce dividends

I'll tell you what I'm doing as I've retired and gone on Medicare and am also doing big Roth conversions.

Anything that pays dividends or interest is being sold. I'm buying BRK/b. Simple as that. The end.
by Jack FFR1846
Tue Mar 19, 2024 11:20 am
Forum: Personal Investments
Topic: How Much to Convert to Roth?
Replies: 53
Views: 4430

Re: How Much to Convert to Roth?

Not being on Medicare makes them really golden here since going over the IRMAA limits are a complete "no care" for them. I would pay close attention to 2026 and realize that the tax rates go up 2 to 3% depending on the bracket except 35% bracket. Standard deduction also drops from $29.2k to $16.6k for MFJ. So in my opinion, I would be converting now to the top of the 32% bracket, around $340k. Do this for 2024 and 2025, then reassess for the new, higher 2026 bracket percentages and lower standard deduction. I'm on Medicare so convert to just below the Medicare IRMAA limit. I know there are arguments to convert even more now and also arguments to convert far less to take advantage of possible ACA welfare and other programs for us p...
by Jack FFR1846
Tue Mar 19, 2024 11:07 am
Forum: Personal Finance (Not Investing)
Topic: How worthwhile is Zillow to estimate home value?
Replies: 58
Views: 5237

Re: How worthwhile is Zillow to estimate home value?

My house went down 20% on Zillow in one month. The next month, it went up 30%. The picture of my house, supposedly on Zillow is a huge bush in an embankment. In truth, it's on the street next to my house and not even a picture of my property. Bozos.

Zillow said DW's aunt's house was worth $295k. When the aunt went into assisted living the house was sold for $135k which was nearly double what I expected it was worth. Maybe the contractor family who bought it was going to gather all the lead from the paint and put into asbestos buckets made from insulation all over the 140 year house and bind it together with the remaining knob and tube wiring.
by Jack FFR1846
Tue Mar 19, 2024 10:04 am
Forum: Personal Consumer Issues
Topic: Help me with my car dilemma . . .
Replies: 36
Views: 2796

Re: Help me with my car dilemma . . .

My advice would be to trade it for a NON hybrid vehicle like a CRV. The dealer will auction the thing anyways. I say non Hybrid because for lots of highway driving, you're carrying around 1000 pounds for no reason. You'll get worse gas mileage than a pure gas vehicle and pay way more. Where a plug in hybrid shines is short distance around town, stop and go type driving. Not highway. A co-worker some years ago got a new territory, covering all of Connecticut. She lived in Boston downtown. To save gas money, she bought a Civic hybrid to replace her gas Civic. She came to me a month later to ask (I was the resident car guy) why her gas mileage was horrible and far worse than her gas civic. I explained that the way she drives (3 hours to the di...
by Jack FFR1846
Mon Mar 18, 2024 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Has the 401k been a net positive or negative?
Replies: 21
Views: 1361

Re: Has the 401k been a net positive or negative?

401k starts are sort of like what the computer language Basic means. What's talked about now has been adopted along the way and was never originally the intent. From a quick search, focusing on Kodak: The 401(k) has become a standard workplace savings feature, but it actually is a fairly new concept and one that came about almost by accident after a group of high-earning individuals from Kodak approached Congress to allow a part of their salaries to be invested in the stock market and thus be exempt from income. This started with big whigs wanting to shield some of their vast income from taxes. Ironically, this happened way past the high tax years. Like during Eisenhower's terms, the highest Federal income tax reached 93%. Much lower in the...
by Jack FFR1846
Mon Mar 18, 2024 8:00 am
Forum: Personal Consumer Issues
Topic: navigation system for car
Replies: 64
Views: 3368

Re: navigation system for car

I've had Garman units that I use as backup for my iPhone running Google maps. I offroad in places around New England where there are zero bars and no input but the Garman keeps on giving me location information.
by Jack FFR1846
Sun Mar 17, 2024 3:34 pm
Forum: Personal Consumer Issues
Topic: Need Help Finding a Hobby
Replies: 76
Views: 6392

Re: Need Help Finding a Hobby

You could do things with guitars. Learning is super easy now with youtube. Try Justinguitar as he's got lots of lessons right from the start into what I'd call intermediate. You can also search youtube for a song name and guitar lesson and you'll likely find something. I took up guitar again after 30 years of leaving it. I did get into a band for about 3 years. But the biggest thing I achieved is I learned a ton about luthier work. I started buying used guitars on craigslist and from what I learned, I would decide what I wanted it to be. From a Clapton active strat though a Mark Knopfler strat to a tele I built for me, for the most part, I stuck with Mexican strats and teles as it allowed me to learn all about them, how to make them better ...
by Jack FFR1846
Sun Mar 17, 2024 11:04 am
Forum: Personal Consumer Issues
Topic: Caribbean island in January/February
Replies: 19
Views: 1713

Re: Caribbean island in January/February

Aruba when there is not a school vacation. Airfare can go to 2X or even higher during vacation weeks. We've stayed at Costa Linda which is right on Eagle beach. I've gone a dozen or more times and I'm not a beach person so have explored a lot of the island that people never see. Been to the drag strip a couple times. Attend RC car races outside and gone to the skate park behind the bus station. Also have gone on the offroad areas where when you rent a Jeep they circle and say "don't go there". Done those in a Jeep, on a quad and on an offroad motorcycle. The natives in Aruba actually appreciate tourists which is the only island I've ever been to where this is true. Dollars are accepted everywhere and English is understood. The isl...
by Jack FFR1846
Sun Mar 17, 2024 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Taxing Roth IRA-I need Help
Replies: 13
Views: 1159

Re: Taxing Roth IRA-I need Help

I have zero confidence in H&R Block. DW and I brought estate tax work to them and the person with 20 years working for them seemed to hunt around the software until a number would go in. They insisted that savings bond interest was taxable by the state. We pulled it all from them and had a "real" CPA do the return and he was able to correctly do the taxes with zero savings bond state taxes and he was also able to explain the rest of the tax work clearly to us.
by Jack FFR1846
Sun Mar 17, 2024 8:09 am
Forum: Personal Investments
Topic: Fired AUM advisor - now what? (portfolio questions)
Replies: 25
Views: 2306

Re: Fired AUM advisor - now what? (portfolio questions)

I would suggest that there are still other things you could do well to learn and focus on. Doing Roth conversions now is greatly to your benefit. The goal is both to get the money into Roths that won't be taxed going forward and to reduce future RMDs. The reason that now is an important time is that you're not on Medicare so you don't have to limit yourself to the IRMAA limit where your premiums quickly jump with income from Roth conversions, interest and dividends. I never realized this until after I retired at 66 and got on Medicare. I projected forward and without doing Roth conversions, social security for both of us plus RMDs for both of us put BOTH of us into IRMAA territory, so we would be looking at several hundred dollars EXTRA on ...
by Jack FFR1846
Sat Mar 16, 2024 5:50 pm
Forum: Personal Consumer Issues
Topic: Moving in retirement.
Replies: 29
Views: 3612

Re: Moving in retirement.

I did extensive research into moving to something a bit smaller and in a lower cost of living area. Doing all the numbers, even with a downgrade of the house and lower cost of living, we'd end up saving nothing. Now, maybe you're not concerned about cost but about the work to keep up your property. I can certainly talk about that. I've got a bit over 13 acres with the house somewhat in the middle of it. It's combined wood forest with white pine, oak, maple, beech, cedar and other random trees. As part of a state program, I only pay 10% of the tax on 12 acres which I forest manage which mostly means harvesting firewood for my own use in our wood furnace. Of that 13 acres, only 6000 square feet is grass and there are some bushes around the ho...
by Jack FFR1846
Sat Mar 16, 2024 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: tIRA to Roth IRA in MA (taxes)
Replies: 21
Views: 1119

Re: tIRA to Roth IRA in MA (taxes)

Do you have ANY other tIRAs that ARE untaxed? If you do, you're into the pro-rata rules. I can't help with that, all of my tIRA money is untaxed so I pay ordinary income tax on any conversions.
by Jack FFR1846
Sat Mar 16, 2024 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Reevaluating social security
Replies: 49
Views: 4598

Re: Reevaluating social security

I don't really understand the advanced features of opensocialsecurity. I ran through it and it said for me to take it at 70 and DW at 62. Then I retired and realized that we have far too much in traditional IRAs which would make RMDs enormous. To counter this, I'm doing the typical thing and Roth converting. If DW, who just turned 62 were to take SS, it would make my plan for Roth conversions up to the IRMAA limit go wrong and also, wouldn't her SS get taxed more? I find opensocialsecurity is just one of the tools needed to plan your retirement strategy. Certainly, if you plan to go back to work, you'd find SS benefits taxed pretty quickly. I'd recommend looking at all of your circumstances before making the decision to start SS. DW and I a...
by Jack FFR1846
Fri Mar 15, 2024 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: Am I Only One Who Hates Having Left Over Pennies
Replies: 53
Views: 4496

Re: Am I Only One Who Hates Having Left Over Pennies

lazynovice wrote: Fri Mar 15, 2024 8:22 pm I thought this was going to be a post about your change jar.
....and how I take my pennies to the grocery store self checkout line, push "cash" for payment and put the pennies into the slot.
by Jack FFR1846
Fri Mar 15, 2024 6:53 pm
Forum: Personal Finance (Not Investing)
Topic: IRMAA and year after LCE
Replies: 8
Views: 1288

Re: IRMAA and year after LCE

I, as others filed the form for recalculation and each time, I had to babysit the form and badger SS. I retired last June. First IRMAA was based on 2021 income and so I filed the form based on income under the IRMAA limit. I submitted in person, then called, then went in again and the agent then typed stuff into the system and a week later, I got my granted letter. At the same visit, I gave them my 2024 form. Nothing for months and the letter saying I'd be paying IRMAA. I called and they said it wasn't in the system. I mailed in another form. I then went in person and they didn't have it in the system so I gave them another form. A week later I got my granted letter. So I guess my treatment of SS as a typical teenager and nagging them and r...
by Jack FFR1846
Fri Mar 15, 2024 4:01 pm
Forum: Personal Consumer Issues
Topic: I will need a new car or repair one
Replies: 46
Views: 2206

Re: I will need a new car or repair one

How many ball joints are we talking? If this is a typical MacPherson strut, that's one in the front. I don't know about your German Ultimate money taking machine, but I did the front 2 on our lowly Subaru because a bushing was cracked and the whole arm with bushings and new ball joint was not any more expensive than buying the tools and bushings. I spent $200 for both fronts which included the ball joints. First time doing this and it took my son and me about an hour per side. Got it aligned afterwards. I think I've been able to retire because since I was 16, I've been DIY'ing repairs, first on my parents' cars then on my own. People get so ripped off. Four grand for ball joints? I hope they're made of gold.