Search found 37 matches

by Midwest Dave
Thu Aug 04, 2016 3:27 pm
Forum: Investing - Help with Personal Investments
Topic: Upcoming decisions on retirement
Replies: 13
Views: 2044

Re: Upcoming decisions on retirement

So current marginal rate is 25%

Looks like future rate is 25%

I like the Roth conversion idea from retirement to SS at 70, but it seems like doing more than that doesn't buy me much.

Does this make sense?

Thanks in advance and for all of the feedback so far.
by Midwest Dave
Thu Aug 04, 2016 12:47 pm
Forum: Investing - Help with Personal Investments
Topic: Upcoming decisions on retirement
Replies: 13
Views: 2044

Re: Upcoming decisions on retirement

Joe - still working on where to live, but home works for now. I have access to comprehensive health insurance at a low cost and am willing to self insure any long term care. Wizard - I have considered the annuity idea, but am leaning to the delay for my spouse and fund the gap with investment gains ...
by Midwest Dave
Thu Aug 04, 2016 11:06 am
Forum: Investing - Help with Personal Investments
Topic: Upcoming decisions on retirement
Replies: 13
Views: 2044

Upcoming decisions on retirement

As I rapidly approach retirement, I would appreciate input on several issues. I have done extensive reading in the forum and the Wiki and aware of most options, rationale, etc. That being said, one is left with making decisions without the ability to forecast key information, e.g. rates of return, i...
by Midwest Dave
Fri Sep 05, 2014 12:29 pm
Forum: Investing - Help with Personal Investments
Topic: Annuity advice
Replies: 13
Views: 1074

Re: Annuity advice

So if I want to take advantage of my current financial position, you would recommend taking the 250k and putting it in a cd now and draw it at 50k per year at age 65 and defer ss until age 70.
by Midwest Dave
Fri Sep 05, 2014 11:49 am
Forum: Investing - Help with Personal Investments
Topic: Annuity advice
Replies: 13
Views: 1074

Re: Annuity advice

Our ss benefits are identical. I understand delaying benefits is a "better deal". However, if after I retire and before I reach age 70, I would have to fund 100% of expenses from our savings. If the market is good, no problem. If not, I'll be in the sell low position, and I don't want that...
by Midwest Dave
Fri Sep 05, 2014 11:06 am
Forum: Investing - Help with Personal Investments
Topic: Annuity advice
Replies: 13
Views: 1074

Annuity advice

I am 60 and my spouse 59. We are planning to retire at age 65. We plan to begin drawing social security at age 66. No pensions. Current retirement assests 1.9 million 50/50 aa. Projected retirement spending 120k annually. Minimum spending 75k. Combined social security 55k. Both active and no health ...
by Midwest Dave
Tue Aug 26, 2014 11:36 am
Forum: Investing - Theory, News & General
Topic: What are you up YTD? [Year To Date]
Replies: 1617
Views: 289490

Re: What are you up YTD?

Stocks 60%
Bonds 40%
+8.1% :D
by Midwest Dave
Wed Jul 02, 2014 2:07 pm
Forum: Investing - Theory, News & General
Topic: How are you doing through the first half of 2014?
Replies: 91
Views: 11883

Re: How are you doing through the first half of 2014?

Excluding contributions, 7.8% YTD, 15.6% annualized. :moneybag
by Midwest Dave
Mon Jun 09, 2014 12:33 pm
Forum: Investing - Help with Personal Investments
Topic: Should I pay off my mortgage early?
Replies: 25
Views: 3399

Re: Should I pay off my mortgage early?

Neither option is wrong. For us, we paid it off as soon as possible and happy we did.

A question you might ask yourself - Would you borrow 100k at current rates to invest in the market?

Good luck!
by Midwest Dave
Thu May 29, 2014 9:47 am
Forum: Personal Consumer Issues
Topic: Listen to ebooks -- How?
Replies: 17
Views: 2109

Re: Listen to ebooks -- How?

Our libray also has audio books (CD). You have to physically go to the library to get them, but they can be played on a PC or any CD player.
by Midwest Dave
Thu May 29, 2014 9:42 am
Forum: Personal Consumer Issues
Topic: Inside Grilling
Replies: 40
Views: 4410

Re: Inside Grilling

I use a heavy cast iron grill pan on a gas stove.
Preheat it well and grill away. There certainly is no charcoal flavor, but it is as good as a gas grill.
Good luck.
by Midwest Dave
Fri May 09, 2014 4:01 pm
Forum: Personal Finance (Not Investing)
Topic: heirs and bequest motivation
Replies: 52
Views: 5079

Re: heirs and bequest motivation

A fair number of posters talk about the desire to "leave an inheritance" aka a bequest motive. I will exclude charitable bequests and the specific case of heirlooms or other "sentimental" property. As to purely financial bequests, why do you wait? Why not transfer funds now , di...
by Midwest Dave
Fri May 09, 2014 3:11 pm
Forum: Investing - Help with Personal Investments
Topic: Should I Sell or Hold this Rental Property
Replies: 18
Views: 2727

Re: Should I Sell or Hold this Rental Property

I can't answer the question for you, however here are some considerations: Good rentals are good investments. When it is debt free, it would provide some nice cash flow. Rentals can be hassels - the longer you own it, the more you feel the hassel. For us, we decided to simplify. Sold our rentals. Co...
by Midwest Dave
Fri May 09, 2014 1:55 pm
Forum: Personal Consumer Issues
Topic: bathroom exhaust fan placement
Replies: 18
Views: 2609

Re: bathroom exhaust fan placement

Are we really talking about number 1 or number 2 in the bathroom??? :mrgreen:
by Midwest Dave
Thu May 01, 2014 2:51 pm
Forum: Investing - Theory, News & General
Topic: Delay Social Security to age 70 and Spend more money at 62
Replies: 203
Views: 34997

Re: Delay Social Security to age 70 and Spend more money at

My wife and I are planning on retiring at 66. I ran the numbers using Cut-Throat's method, and liked the idea of having a higher percentage of income guaranteed, but the investment portfolio takes quite a hit. If you don't care about what is left, I see no problem. I then priced an immediate annuity...
by Midwest Dave
Wed Apr 30, 2014 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Did you tell anyone you paid off your mortgage?
Replies: 338
Views: 37671

Re: Did you tell anyone you paid off your mortgage?

Paid of at age 39.
No announcement, but shared with family and friends in regards to financial planning discussions.
I think it is important for interested people to know that it is possible to achieve, without giant incomes, and to understand the benefits of doing so.
by Midwest Dave
Wed Apr 09, 2014 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Unsubsidized Fixed Rate Stafford Loans - a good deal?
Replies: 22
Views: 1695

Re: Unsubsidized Fixed Rate Stafford Loans - a good deal?

Before ruling out Stafford, check the repayment and forgiveness provisions. Depending on your student's intended occupation, this could be very beneficial. There is also lots of noise regarding broader forgiveness of student loans. If that occurs, it would be unlikely to apply to any borrowing other...
by Midwest Dave
Fri Apr 04, 2014 7:18 am
Forum: Personal Consumer Issues
Topic: Windjammer/Tall ship cruise
Replies: 15
Views: 1948

Re: Windjammer/Tall ship cruise

Thanks all,

I like the idea of the Maine windjammers. I have looked at them.

BarryB, I'd probably go solo or with a friend, as my wife doesn't like to be far from shore. Her idea of sailing is sunshine and 3-4 knots of wind :o
I enjoy that, too. It's always a challenge to find the wind!
by Midwest Dave
Fri Apr 04, 2014 7:04 am
Forum: Investing - Help with Personal Investments
Topic: Solo 401k - Roth
Replies: 3
Views: 478

Re: Solo 401k - Roth

Thanks DSInvestor,

Already doning the regular Roth.

So you would agree it makes sense to switch from the SEP to the Solo 401k to take advantage of the maximum Roth component?
by Midwest Dave
Wed Apr 02, 2014 6:50 am
Forum: Personal Consumer Issues
Topic: Windjammer/Tall ship cruise
Replies: 15
Views: 1948

Re: Windjammer/Tall ship cruise

I want to actually sail; eat not dine, drink (water), and gamble on the wind.
by Midwest Dave
Tue Apr 01, 2014 3:20 pm
Forum: Personal Consumer Issues
Topic: Windjammer/Tall ship cruise
Replies: 15
Views: 1948

Windjammer/Tall ship cruise

Anyone with experience on a week or more adventure?

Thanks
by Midwest Dave
Tue Apr 01, 2014 2:35 pm
Forum: Investing - Theory, News & General
Topic: One sentence financial rules
Replies: 13
Views: 1988

Re: One sentence financial rules

Excellent!

Thanks much
by Midwest Dave
Tue Apr 01, 2014 2:19 pm
Forum: Investing - Help with Personal Investments
Topic: Solo 401k - Roth
Replies: 3
Views: 478

Solo 401k - Roth

Background - around 120k AGI, 3 children in college. Late 50's. Spouse self employed - no employees - 50k modified SE income. Adequate retirement savings. She currently has a SEP-IRA; nice for making tax adjustments after December 31. We inherited approx 200k of taxable investments (Vanguard and Ame...
by Midwest Dave
Tue Apr 01, 2014 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: Decently written article on retirement
Replies: 22
Views: 3828

Re: Decently written article on retirement

As a boomer, I have observed several things about our lives that our parents didn't experience in their youth. Their habits were formed and, in my case, never counseled me or my siblings (same for my wife) on financial matters. There was no school programs for personal finance. As a financial person...
by Midwest Dave
Fri Mar 28, 2014 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: "Spinning Off" my 20 Year Old Son
Replies: 71
Views: 8509

Re: "Spinning Off" my 20 Year Old Son

I probably wouldn't spin him off totally. I think substantially increasing his responsibility is a good thing, but depending on the individual more or less guidance may be indicated. We wanted to raise adults, not children, so we stayed involved to assist with budget development, expense tracking, e...
by Midwest Dave
Tue Mar 25, 2014 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Opinion on buying more federal pension
Replies: 1
Views: 340

Re: Opinion on buying more federal pension

Assuming that this 21,000 would come from a taxable investment and you are in good health, I'd do it.

It looks like to me that this is equivalent to roughly 5.5% after tax annual return followed by a 4% withdrawal (indexed to CPI) all guaranteed for life.
by Midwest Dave
Tue Mar 25, 2014 10:06 am
Forum: Personal Finance (Not Investing)
Topic: Savers remorse ?
Replies: 91
Views: 14003

Re: Savers remorse ?

None here. Savings was, and is, a priority. We always saved first, but our budget included vacations (modest), cars (nice, but used), boats (small and used), jewelry (very limited, but nice), etc. We never sacraficed our savings plan for "things", but we didn't sacrafice living for savings...
by Midwest Dave
Wed Mar 19, 2014 11:04 am
Forum: Investing - Help with Personal Investments
Topic: Single Income Family with 4 Children (so far)
Replies: 69
Views: 6415

Re: Single Income Family with 4 Children (so far)

Welcome to the forum I'm late to the party, but here goes. Sounds like the life and disability are addressed so all is well there. We are fans of no debt, so keep that up, too. I would max 401k then Roth. College savings plans are also possibilities (maybe grandparent funding some?). The faster you ...
by Midwest Dave
Tue Mar 18, 2014 12:56 pm
Forum: Personal Finance (Not Investing)
Topic: Your thoughts on vacation home or second home
Replies: 61
Views: 6963

Re: Your thoughts on vacation home or second home

I wouldn't do it as an investment. If it is is a place you love, that may be different. We bought a 4 year old condo when the market tanked for 40% less than it sold for when it was new. We love the area and use it year round. It was under 100k and furnished. Association is also very well managed an...
by Midwest Dave
Tue Mar 18, 2014 10:01 am
Forum: Personal Consumer Issues
Topic: Lump sum pension pay out. Take it or not ?
Replies: 16
Views: 2168

Re: Lump sum pension pay out. Take it or not ?

Take it. Using rough calculations, a simple return of 7% annually will give you about $375,000 by age 62. Taking $30,000 annual withdrawls begining at 62 will get you to age 90. If you manage to get 7.5%, you can take $30,000 annually indefinitely. I did a similar thing; very pleased with the outcom...
by Midwest Dave
Thu Mar 06, 2014 3:42 pm
Forum: Personal Consumer Issues
Topic: Best place to buy bike parts
Replies: 22
Views: 2866

Re: Best place to buy bike parts

If your condition is not permanent, I would leave your road bike alone and buy an inexpensive hybrid or road bike with the gearing you desire, probably find one used for cheap, ride it until you are healed, then sell it or donate it if you have no further use for it.
by Midwest Dave
Wed Mar 05, 2014 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: College admission and high school
Replies: 21
Views: 1708

Re: College admission and high school

For competitive admissions colleges/universities, I would say ACT/SAT scores combined with high school gpa and class rank. If you are interested in specific schools, check out their freshman profile. Is should be on their website. This will give you a good idea of what they look for. Many schools al...
by Midwest Dave
Wed Jan 29, 2014 11:27 am
Forum: Investing - Help with Personal Investments
Topic: Investment/Financial/Life Advice
Replies: 8
Views: 1144

Re: Investment/Financial/Life Advice

As others have said, controlling expenses is key. Ask yourself if "sacraficing" immediate wants (dining out, latest phone, etc.) is worth attaining financial security. If not, then you must be ok with sacraficing financial security for immediate wants. Seems like sacraficing immediate want...
by Midwest Dave
Wed Jan 29, 2014 10:47 am
Forum: Personal Finance (Not Investing)
Topic: Term life - for how long?
Replies: 36
Views: 2924

Re: Term life - for how long?

Without regard to what you determine the amount of coverage you need today, generally, you can reduce the amount of coverage as you age and your risk decreases. In my case, I had a much larger policy when my children were younger and have decreased my coverage substantially over the years. I am 59 ...
by Midwest Dave
Fri Jan 24, 2014 8:39 am
Forum: Investing - Help with Personal Investments
Topic: If You Were 24 Years Old What Would You Do?
Replies: 34
Views: 4558

Re: If You Were 24 Years Old What Would You Do?

401k first, then emergency fund, then mortgage, then roth. My reason for the mortgage (although it is a great rate) ahead of the roth is that the sooner it is paid off, the more financially independent you will be. My mortgage was paid off when I was 38, I lost my job at 40 with a stay at home wife ...
by Midwest Dave
Fri Jan 24, 2014 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Term life - for how long?
Replies: 36
Views: 2924

Re: Term life - for how long?

Without regard to what you determine the amount of coverage you need today, generally, you can reduce the amount of coverage as you age and your risk decreases. In my case, I had a much larger policy when my children were younger and have decreased my coverage substantially over the years. I am 59 n...
by Midwest Dave
Wed Jan 22, 2014 3:50 pm
Forum: Investing - Help with Personal Investments
Topic: Switching from a financial advisor to vanguard
Replies: 8
Views: 1554

Re: Switching from a financial advisor to vanguard

I would check with Vanguard's concierge service. I believe that you can transfer all (or almost all) holdings to Vanguard without selling them.