Search found 630 matches

by Wellfleet
Thu Dec 01, 2022 12:13 pm
Forum: Personal Finance (Not Investing)
Topic: [Point of Service (POS) or HDHP + HSA]
Replies: 3
Views: 265

Re: PPO vs HSA

Thank you Grabiner as always. My employer does offer a FSA but I hate the use or lose feature.
AnEngineer wrote: Thu Dec 01, 2022 6:13 am
What's the full picture on costs after deductible on both plans? Are you sure procedures have no copay or coinsurance on POS plan?
The HDHP Plan has the deductible then coinsurance for most things. The POS Plan only has deductibles for out of network items and these procedures will be in network (unless it gets caught up in balanced billing?). While the POS Plan has a $6000 family out of pocket max, I'm having a tough time - perhaps naively that we will have dozens of $30 specialist visits to come anywhere close to that max. Inpatient hospitalizations are covered in full, ER visits are $100 copays.
by Wellfleet
Wed Nov 30, 2022 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: [Point of Service (POS) or HDHP + HSA]
Replies: 3
Views: 265

[Point of Service (POS) or HDHP + HSA]

[Moved into a new thread from: PPO vs HSA --admin LadyGeek] Hi Everyone, I'd appreciate your input on an upcoming high medical expense year with 3+ procedures for dependents. I currently have my employers HDHP + max HSA and like the simplicity and HSA tax savings (22% bracket) but I want to consider the POS Plan given the known expenses and no deductible or coinsurance for in-network services. I'm not sure how I would come close to hitting the POS $6000 out of pocket max given inpatient hospitalizations and imaging are covered in full and specialist visits are $30. We don't use PT/chiropractic or acupuncture. I would need to have 90 PCP/specialist visits to make the POS worse than the HDHP this year. What am I missing? HDHP POS annual prem...
by Wellfleet
Mon Nov 14, 2022 7:31 pm
Forum: Personal Consumer Issues
Topic: Propane tank: When to replace nearly empty tank?
Replies: 43
Views: 3542

Re: Propane tank: When to replace nearly empty tank?

Two tanks is the way to go. I have 4 for my portable generator and grill so no worries to date.
by Wellfleet
Sat Nov 05, 2022 6:58 pm
Forum: Personal Consumer Issues
Topic: Urgent care not honoring family deductible
Replies: 42
Views: 3579

Re: Urgent care not honoring family deductible

I offer that I deal with significant professional services contracts annually and I pay upon invoice received for service. I offer that I think the dentist or med facility I’m at wants to be perceived as a professional service organization unlike a retailer. That mostly gets a invoice and not demand for payment.
by Wellfleet
Wed Aug 10, 2022 7:18 am
Forum: Personal Finance (Not Investing)
Topic: How do I protect mom's house without risking Sec 8?
Replies: 9
Views: 1401

Re: How do I protect mom's house without risking Sec 8?

If boyfriend and you co-own the house, not much can be done to protect it from boyfriend unless you want to buy them out.

I think the Medicare/nursing home look back period is 5 years so if these transactions happen 5 years before nursing care is needed, I think the house is “protected” from Medicare.

You might be able to get free legal advice for mom through the local council on aging. Good luck, this is a pickle.

If there’s a legal/easy way to keep a parents house, I’d love to know it as well but I don’t think it exists.
by Wellfleet
Tue Nov 09, 2021 3:44 pm
Forum: Personal Consumer Issues
Topic: How much for Tooth Fairy?
Replies: 111
Views: 8340

Re: How much for Tooth Fairy?

It is still $1.00 in my HCOL area according to a parent text thread survey. There have been one time spot bonuses of $5 when teeth were lost unexpectedly and there were only $5 bills in circulation. :D
by Wellfleet
Tue Oct 19, 2021 9:29 am
Forum: Personal Consumer Issues
Topic: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?
Replies: 333
Views: 34914

Re: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?

Kagord wrote: Tue Oct 19, 2021 9:26 am
I think he could go a little higher, as you should not spend more the 0.5% of net worth (excluding your home equity) on a vehicle. So that's a $35K ceiling (out the door cost I'm talking), so a high end Camry or Buick is more appropriate.
Where/what is the 0.5% net worth rule of thumb based on?
by Wellfleet
Tue Oct 19, 2021 9:22 am
Forum: Personal Consumer Issues
Topic: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?
Replies: 333
Views: 34914

Re: Cars -- When and Why Did You Switch from Economy/Practicality to Luxury?

We switched for the most recent car. A CPO Lexus was cheaper than a Toyota 4Runner with the options we wanted (May 2020).
by Wellfleet
Fri Oct 15, 2021 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Telling Kids about 529 plans
Replies: 110
Views: 9268

Re: Telling Kids about 529 plans

I started telling my daughter as soon as we started saving for her 529 that we would have money for her to go to college. As my wife and I are both teachers, we also made sure to tell her she was not going into education. She asked what happens if I do I said you cousin gets your 529 and you have to take out loans. We will not pay for that degree. This is particularly interesting bc my husband and I are both educators and we also don't want our children to be teachers. Stagnant salaries, terrible work hours/conditions, and the top salaries (even for admin) don't come anywhere close to other careers. Interesting. Family are teachers and we would disagree but I think it's getting off topic. How many other jobs give 13 weeks of PTO that you c...
by Wellfleet
Tue Sep 28, 2021 1:51 pm
Forum: Personal Consumer Issues
Topic: Looking for Advice for a Short Trip to NYC with toddler (I'm from small Midwestern City)
Replies: 97
Views: 8399

Re: Looking for Advice for a Short Trip to NYC with toddler (I'm from small Midwestern City)

HereToLearn wrote: Tue Sep 28, 2021 11:55 am
If your toddler is newly potty-trained, a day in NYC can be a real challenge. There must be a Reddit or some other forum where parents discuss diaper changing and bathroom access for toddlers, but I am too far away from those years to remember how I managed when I drove in for the day with my young children.
The source you are looking for is the Seinfeld episode where George Costanza has a list of the best restrooms around the city :beer
by Wellfleet
Tue Sep 28, 2021 10:17 am
Forum: Personal Consumer Issues
Topic: Looking for Advice for a Short Trip to NYC with toddler (I'm from small Midwestern City)
Replies: 97
Views: 8399

Re: Looking for Advice for a Short Trip to NYC with toddler (I'm from small Midwestern City)

Not a local but as a fan of NYC with kids I would stay near the American Museum of Natural History so you are near Central Park and more of a real neighborhood.
by Wellfleet
Mon Sep 27, 2021 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Boston metro?
Replies: 28
Views: 3850

Re: Buying a house in Boston metro?

I would post this question on City-Data, there are a number of knowledgeable posters on there who really know the area: https://www.city-data.com/forum/massachusetts/

My two cents would be that it really depends on current and future office locations and commuting method. If the office is at the Seaport and future opportunities will be there, it makes sense to be as close as possible to South Station.

For instance, many people "love" Newton but from many parts of the City it's a long commute to South Station by transit.
by Wellfleet
Fri Sep 17, 2021 10:40 am
Forum: Personal Consumer Issues
Topic: Hybrid Electric Pump Water Heater in Northern Climate?
Replies: 27
Views: 2914

Re: Hybrid Electric Pump Water Heater in Northern Climate?

Do you have a boiler throwing off heat that the heat pump could extract in the winter? Otherwise your basement will be quite chilly in winter.
by Wellfleet
Fri Sep 03, 2021 9:28 am
Forum: Personal Finance (Not Investing)
Topic: Late 30s in HCOL area, How are we doing and what to do next?
Replies: 25
Views: 4253

Re: Late 30s in HCOL area, How are we doing and what to do next?

If I won the lottery and found myself in a similar situation, the first thing I would do is hire a tax attorney and accountant from one of my region's reputable law firms and accounting firms to provide appropriate advice. I would most certainly insure myself to a high level to protect my family and loved ones. What would happen to the children if your at fault for a car accident that killed you, your spouse and harmed others leading to lawsuits against the estate? Would the children be financially set? I would also want to consider the appropriate age for them to inherit +-$50 million. I'm doing that and I have peanuts comparatively. The parents look to be making decisions based on proposed political actions and dealing with the consequenc...
by Wellfleet
Thu Sep 02, 2021 1:32 pm
Forum: Investing - Theory, News & General
Topic: Staying motivated in the middle of the game
Replies: 59
Views: 12183

Re: Staying motivated in the middle of the game

Very impressive OP! :sharebeer We are leagues behind you but getting closer to be in what I would characterize good shape but a couple of our super frugal friends have fallen by the wayside and upsized their houses and lifestyles!

We are trying to stay motivated in light of friends buying vacation homes, new houses, dual luxury cars. All things friends can afford but SO and I are like "what are we missing?" One friend was Mr. Money Mustache to me with a 1x income house purchase and driving a Honda Civic. Added a vacation house and now luxury cars....
by Wellfleet
Mon Aug 30, 2021 9:29 am
Forum: Personal Finance (Not Investing)
Topic: Teachers: what are your best personal finance tips?
Replies: 180
Views: 35984

Re: Teachers: what are your best personal finance tips?

Here's another one: define clear boundaries for supplies that will be purchased for your classroom. We've been working to accept that the school where DH works may be OK with old textbooks (for example). Another example is limited money for pencils, paper, etc.

We are learning to be ok that the employer wants to teach using old textbooks and basic supplies and no need to be a superhero and buy your own set. The teacher that does buys their own set sometimes makes the news but perpetuates the idea that teachers need to buy their own supplies.
by Wellfleet
Fri Aug 27, 2021 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: In-laws need financial help after poor money management
Replies: 29
Views: 4528

Re: In-laws need financial help after poor money management

Clammypollack wrote: Fri Aug 27, 2021 2:28 pm The inevitable has occurred and due to health issues, they are in need of financial assistance. My wife and I are financially the best off among her five siblings. The in-laws are generally nice people but I resent being asked to help people financially who have been financially irresponsible. I don’t want to be heartless but I also don’t want to jeopardize our own retirement. If any of you faced similar circumstances? how did you handle it?
My money, my way. I make direct payments for things I deem essential. It may require undesired action on others part like selling things, downsizing etc. If they don't want to play by my rules, I withhold payment.
by Wellfleet
Fri Aug 27, 2021 1:33 pm
Forum: Personal Investments
Topic: Age 35, early retirement age 37? Please critique plan :)
Replies: 175
Views: 27407

Re: Age 35, early retirement age 37? Please critique plan :)

I remember not being able to go on a field trip because my parents didn’t have the $5 required. They and I felt bad, but it was what it was. I might have felt differently if they had voluntarily become poor; they were doing the best they could at the time, speaking no English and working multiple jobs. ETA: I must have misremembered the amount, which Google tells me would be over $40 today. Anyway, my point stands without the precise dollar amount. Agreed. I thought your earlier comment about sympathy for those who can't ahead was very eloquent. Family are teachers and policy is they are happy to pay out of pocket for these types of expenses for their students who cannot pay themselves. I think schools try to reduce the frequency of the th...
by Wellfleet
Fri Aug 27, 2021 12:58 pm
Forum: Personal Investments
Topic: Age 35, early retirement age 37? Please critique plan :)
Replies: 175
Views: 27407

Re: Age 35, early retirement age 37? Please critique plan :)

As kids grow so do expenses, even modest ones. For example, sports, camp (even local and affordable), music lessons, swimming lessons, someone needs a tutor, academic enrichment programs, etc. These expenses do not have to be extravagant but they add up. As I've stated many times, totally agree with the general theme that this is a terrible idea, but these expenses that keep being brought up are totally discretionary. My mom has 7 kids (the youngest being 17) and I'm pretty certain she has spent $0 total in her life on the expenses being listed because there just wasn't room in the budget. We all played a number of sports (3 who received some form of athletic scholarship) and a few played instruments, we were responsible for figuring out h...
by Wellfleet
Fri Aug 27, 2021 11:38 am
Forum: Personal Investments
Topic: Age 35, early retirement age 37? Please critique plan :)
Replies: 175
Views: 27407

Re: Age 35, early retirement age 37? Please critique plan :)

I would add housing maintenance expense and car replacement or transit cost. At a house valued at $400,000 one rule of thumb is $4,000 annually or $333 per month. Assuming OP would need to DIY most issues that number could be reduced but even DIY roof or boiler replacement requires materials.
by Wellfleet
Wed Aug 25, 2021 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Teachers: what are your best personal finance tips?
Replies: 180
Views: 35984

Re: Teachers: what are your best personal finance tips?

automatic wrote: Tue Aug 24, 2021 11:20 pm Max out a 457b in addition to your 403b - separate contribution limits and can pull out the 457b money at any age, penalty-free, once separated from your employer. 🤯
SO looked into this in Massachusetts and their community did not allow teachers to participate in 457 :annoyed . In process enrolling in *we think* a low cost Fidelity 403b, as opposed to the junk 403 option over the last few years. They certainly don't make it easy :sharebeer

theplayer11 wrote: Tue Aug 24, 2021 1:07 pm why would any 1 profession be different? Save as much as you can, live below your means.
Well, my given that my SO learned about the idea of contributing to a 457/403b in addition to pension contributions on Bogleheads, the differences will be worth thousands in our case ! :beer
by Wellfleet
Mon Aug 23, 2021 1:49 pm
Forum: Personal Consumer Issues
Topic: What's With The Expensive Real Estate in Undesirable Areas?
Replies: 70
Views: 7752

Re: What's With The Expensive Real Estate in Undesirable Areas?

MarkRoulo wrote: Mon Aug 23, 2021 10:27 am
I'm not going to suggest that you move to a particular town. I am going to list some towns that offer reasonable houses for less than $350K. Maybe you can generalize from the list, but a lot of this seems to be to (a) get out of expensive states, and (b) be an hour or two from a major city.

*) Chattanooga, TN
*) Urbana-Champagne, IL (contains University of Illinois main campus)
*) York, PN
*) Oberlin, OH (site of Oberlin college)

*) Pittsburgh might also have houses you would find acceptable.
I would agree with this. Take a major university town and look one or two towns outside of where the University is actually located and where students and faculty would live.
by Wellfleet
Mon Aug 23, 2021 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: NYT: Hospitals don't want you to know their prices.
Replies: 81
Views: 8916

Re: NYT: Hospitals don't want you to know their prices.

AnEngineer wrote: Mon Aug 23, 2021 1:06 pm
My point is that the benefits of a HDHP require no action other than having the plan. You're assuming that the benefits come exclusively from price shopping or otherwise changing your behavior. But that's not true. While you may be able to obtain additional benefits by doing that, the baseline benefit of getting the same healthcare for less money is easily accessible to all people who have a HDHP option.
Your assumption is incorrect but I agree with the rest of your statement. However the OP started the discussion about price shopping as part of their HDHP so it's relevant to discuss.
by Wellfleet
Mon Aug 23, 2021 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: NYT: Hospitals don't want you to know their prices.
Replies: 81
Views: 8916

Re: NYT: Hospitals don't want you to know their prices.

AnEngineer: my message is the same in both posts: HDHP's are good for people who may be: "bogleheads" and/or "financially savvy" and/or people who can conduct the analysis.

Most people look at premiums and copays and that is it. This article indicates that its very challenging for even "bogleheads" and/or "financially savvy" individuals to compare prices for procedures.

I'm not sure why it's helpful to the community to try to pick apart my wording?
by Wellfleet
Mon Aug 23, 2021 12:46 pm
Forum: Personal Finance (Not Investing)
Topic: NYT: Hospitals don't want you to know their prices.
Replies: 81
Views: 8916

Re: NYT: Hospitals don't want you to know their prices.

I've also determined that HDHPs are really only beneficial for financially savvy Boglehead types. Many people have no idea to comparison shop, use strategies like offering cash for immediate payment, ask for 0% payment plans, Etc. I think someone has already posted here that if having a HDHP may nudge you to avoid care, it's a bad idea if you have a choice. I don't understand this. In almost every HDHP and traditional plan comparison for plans available to the same person, the HDHP will win at no spending and max OOP spending. The comparison does not depend on you comparison shopping because you have a HDHP. How many people outside of the Boglehead community are aware to do this? Don't get me wrong, I like the HDHP for my situation but I h...
by Wellfleet
Mon Aug 23, 2021 9:59 am
Forum: Personal Finance (Not Investing)
Topic: NYT: Hospitals don't want you to know their prices.
Replies: 81
Views: 8916

Re: NYT: Hospitals don't want you to know their prices.

I've determined from my HDHP-related bills that a routing specialist appointment in my area is around $150-$200.

I'm aware of companies like Smartshopper that shop routine procedures for you: https://www.smartshopper.com/ and I would imagine they have strong incentives to break these pricing codes.

I've also determined that HDHPs are really only beneficial for financially savvy Boglehead types. Many people have no idea to comparison shop, use strategies like offering cash for immediate payment, ask for 0% payment plans, Etc. I think someone has already posted here that if having a HDHP may nudge you to avoid care, it's a bad idea if you have a choice.
by Wellfleet
Wed Jul 28, 2021 11:33 am
Forum: Personal Consumer Issues
Topic: Unforeseen Maintenance Requirements Due to Relocation
Replies: 40
Views: 4052

Re: Unforeseen Maintenance Requirements Due to Relocation

egrets wrote: Wed Jul 28, 2021 11:17 am How did you lose thirty trees? That sounds amazingly unlikely. Also, fallen trees can be beneficial for wildlife if left in place.

Hired out stump grinding is cheap and fast.

I would hire out lawn mowing.
We knew and priced into our offer an initial round of tree removal that were touching the house or impacted by septic system replacement when we purchased our house. I thought we would be set for a few years but we had a domino effect take out three one year later...and a "widowmaker" in the backyard so another 10 went since we had a crane for the day...we have 1+ acres in New England.

Agreed, lawn mowing is cheap to outsource.
by Wellfleet
Wed Jul 28, 2021 11:26 am
Forum: Personal Consumer Issues
Topic: Unforeseen Maintenance Requirements Due to Relocation
Replies: 40
Views: 4052

Re: Unforeseen Maintenance Requirements Due to Relocation

vested1 wrote: Wed Jul 28, 2021 6:54 am
Bottom line of this thread, don't just think about COL or taxes when considering a relocation. I'll be 70 next year and keeping up with this place keeps me young. or so I keep telling myself. We will eventually sell and move to a single story house in a 55 or older community and let the HOA or pay someone else to deal with the yard maintenance once it becomes too much.
Yes, I would agree that buying a lakefront property with extensive landscaping and a house that had some possibly deferred maintenance can offset cost of living adjustments.
by Wellfleet
Thu Jul 22, 2021 12:22 pm
Forum: Personal Consumer Issues
Topic: The financials of carbon emissions
Replies: 10
Views: 930

Re: The financials of carbon emissions

The is also a concept of "additionality" where some buyers of these credits want to ensure that their $20 is making more of an impact and driving policies they want versus achieving lowest cost, like investing in night time energy storage when solar is no longer generating versus planting trees.


I'm sure there are opportunities, I'm just not smart enough to figure them out.
by Wellfleet
Thu Jul 22, 2021 10:53 am
Forum: Personal Consumer Issues
Topic: The financials of carbon emissions
Replies: 10
Views: 930

Re: The financials of carbon emissions

international001 wrote: Thu Jul 22, 2021 8:01 am
Does this make sense? Instead of paying $15 to delta, I could just buy $7.5 CO2 emissions rights from US and it would have the same impact, no?
Yes, it's a personal decision of convenience versus perceived quality. Some people don't care how the offset is made, some care deeply. Same idea as buying an American made car versus Japanese or German made car.

59Gibson wrote: Thu Jul 22, 2021 9:24 am Ha. Easy money. will be locked soon
Why? I think the question is actionable.
by Wellfleet
Sun Jul 18, 2021 7:26 am
Forum: Personal Consumer Issues
Topic: Planning a metaverse family vacation
Replies: 31
Views: 5815

Re: Planning a metaverse family vacation

market timer wrote: Sun Jul 18, 2021 1:31 am Is anyone here using the metaverse to stay connected with friends and family?
It seems like a good idea compared to losing touch with extended family, (the second cousin who lives in New York or Montana) or as a say, monthly supplement but I am not planning this to replace in person interaction.
by Wellfleet
Thu Jul 15, 2021 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Child Tax credit
Replies: 83
Views: 8424

Re: Child Tax credit

Does anyone know if raising a pre-tax 401K contribution would have the same effect as raising W4 withholding?
by Wellfleet
Fri Jul 09, 2021 3:19 pm
Forum: Personal Investments
Topic: [Employer Roth Option]
Replies: 18
Views: 1517

Re: [Employer Roth Option]

OP, It is very simple. You have two choices: A) Go with Roth 401K and if you are wrong, you do not have enough money in your early retirement and/or retirement. B) Go with Trad 401K and if you are wrong, you have too much money. And, you pay a lot more taxes in your early retirement and/or retirement. I would rather be wrong with (B) than (A). So, when in doubt, go with (B). The consequences of being wrong is not as bad. You cannot afford to be wrong with (A). IRS is not going to give your money back. KlangFool Thank you KlangFool, I value your advice immensely. I prefer to plan for bad news such as I am forced to retire early in 50s and spouse doesn't reach 80% pension max or pension benefits are cut. In those cases our tax rate would be ...
by Wellfleet
Fri Jul 09, 2021 12:34 pm
Forum: Personal Investments
Topic: [Employer Roth Option]
Replies: 18
Views: 1517

Re: Employer ROTH Option

How close are you to the 12% bracket? In your shoes, I’d be tempted to use traditional down to the top of 12% bracket (married-joint $81,050) in 2021 and then use Roth for the remaining. For example if your household makes $110k, standard deduction of $25.1k will bring your taxable income to $84.9k. Another deduction of ~$4k traditional 401(k) will drop your federal marginal tax rate to 12%. That’s cheap Roth space and a great hedge against future tax changes. You can use tax software to find the cut off point for your individual circumstances. We are closer to 24% instead of 12% so we actually probably need to favor pre-tax to avoid that jump. The $150 AGI for the childcare tax credit is another story I can't begin to decipher what to fav...
by Wellfleet
Fri Jul 09, 2021 11:18 am
Forum: Personal Investments
Topic: [Employer Roth Option]
Replies: 18
Views: 1517

Re: Employer ROTH Option

- The anticipated state pension is 80% of final salary, let's assume $80,000 in current dollars. Wellfleet, 1) What is your current age? 2) Is the pension vested? 3) Are you confident that you would be fully-employed until the retirement age? <<Is the employee ROTH 401K a better deal than pre-tax 401k contributions>> 3) In general, the answer is no. The Roth 401K take out the 19.5K of the Trad 401K space. The pre-tax 401K does not. 4) So, you could max up the Trad 401K and put the tax savings into the pre-tax 401K. KlangFool KlangFool, I appreciate your questions. Age is 35, pension is not vested, will be at age 45. Let's assume I will not be fully employed until retirement age. Let's make another assumption that pension is cut to 50% beca...
by Wellfleet
Fri Jul 09, 2021 11:15 am
Forum: Personal Investments
Topic: [Employer Roth Option]
Replies: 18
Views: 1517

Re: Employer Roth Option

02nz wrote: Fri Jul 09, 2021 10:58 am

In your situation I'd favor Roth contributions, maybe even 100% Roth.
Thank you.
by Wellfleet
Fri Jul 09, 2021 10:46 am
Forum: Personal Investments
Topic: [Employer Roth Option]
Replies: 18
Views: 1517

Re: Employer ROTH Option

02nz wrote: Fri Jul 09, 2021 10:24 am
No it's not, you just haven't provided any of the information needed to make an educated best guess, such as:

Current marginal tax rate, state and federal
Size of pension? Will you still get Social Security?
Size of tax-deferred and Roth accounts
Anticipated retirement age
I appreciate the input.

- Current tax rate is 22% federal + 5% state
- The anticipated state pension is 80% of final salary, let's assume $80,000 in current dollars.
- I will be eligible for social security of $24,000 at 62, using that conservative number in case I need to take at 62.
-Current tax deferred accounts at $200K, Roth balance at $12k.
-Anticipated retirement age of 65
by Wellfleet
Fri Jul 09, 2021 9:31 am
Forum: Personal Investments
Topic: [Employer Roth Option]
Replies: 18
Views: 1517

Re: Employer ROTH Option

arcticpineapplecorp. wrote: Thu Jul 08, 2021 2:33 pm Will you be in a lower or higher tax bracket in retirement than now?

When you answer that you'll have your answer.
Thank you, so it's a dart board guess then. :D
by Wellfleet
Thu Jul 08, 2021 2:12 pm
Forum: Personal Investments
Topic: [Employer Roth Option]
Replies: 18
Views: 1517

[Employer Roth Option]

My husband's megacorp (ok job security) employer offers a ROTH 401K option in addition to pretax 401k. We currently max out my 403b, state agency employee pension contribution, and two ROTH IRAs ($12,000) and contribute to husband's 401k. Our AGI is under the ROTH phase out. Is the employer ROTH a better deal than pre-tax 401k contributions plus the $12,000 ROTH IRA? Edited at RuralAvalon's suggestion: - Current tax rate is 22% federal + 5% state - The anticipated state pension is 80% of final salary, let's assume $80,000 in current dollars. - I will be eligible for social security of $24,000 at 62, using that conservative number in case I need to take at 62. -Current tax deferred accounts at $200K, Roth balance at $12k. -Anticipated retire...
by Wellfleet
Thu Jul 01, 2021 2:36 pm
Forum: Personal Consumer Issues
Topic: Wood beams- what to do? [Wood beams in ceiling]
Replies: 26
Views: 2161

Re: Wood beams- what to do? [Wood beams in ceiling]

bloom2708 wrote: Thu Jul 01, 2021 2:30 pm
Let's say you want a cherry or maple or grey look. They make thin wood that can be tacked over the existing wood. Whatever color you want.

You could then stain to preference. I call it a wrap, but it is just a new top layer.
This seems like best idea. At the commercial level, sandblasting is done to remove old paint from wood beams.
by Wellfleet
Thu Jul 01, 2021 2:29 pm
Forum: Personal Consumer Issues
Topic: I made a 100k mistake
Replies: 63
Views: 9509

Re: I made a 100k mistake

stoptothink wrote: Thu Jul 01, 2021 2:15 pm
My parents have over 1/2 acre with huge front and back yards, which wife and I spend every other Saturday tending because they have health issues which make it very difficult for them. They say the yard is for the grandkids. Our yard is the size of a postage stamp (maybe), but we have 3 parks within walking distance; ask my kids which "yard" they'd rather have.

Wife and I are in total agreement we want as little yard as possible, and the kids agree with us as well.
I agree somewhat but outsourcing yardwork is very cheap versus moving. In my MCOL/HCOL area of New England annual mowing can be done for less than $200 per month. I can pay for a lifetime of outsource yardwork versus paying for a urban condo/house.
by Wellfleet
Thu Jul 01, 2021 2:11 pm
Forum: Personal Consumer Issues
Topic: Helping a sibling in financial distress- How to handle transactions
Replies: 31
Views: 4187

Re: Helping a sibling in financial distress- How to handle transactions

I've paid bills directly to creditors. The cash from ATM route has been used for non-essential purposes in my personal experience. A google spreadsheet would help:

Sibling A: electricity bill $200.
Sibling B: grocery gift cards $200
Sibling C: rent contribution $200 to landlord
by Wellfleet
Mon Jun 21, 2021 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Do You Make Contractors / Housekeepers Sign Liability Contracts?
Replies: 7
Views: 1499

Re: Do You Make Contractors / Housekeepers Sign Liability Contracts?

FIREGuy88 wrote: Mon Jun 21, 2021 1:02 pm I have a housekeeper that comes to my condo once a week to clean. I have renters insurance and umbrella insurance from Geico, and its my understanding that this should keep me insured should something happen (slip and fall while in my apartment, etc).

With that said, does it make sense to have housekeepers sign a waiver of liability or something similar? It's all extremely informal, we don't have a contract and I pay her under the table via Venmo every week, so I'm wondering how formal this should really be.

Do you make contractors or housekeepers sign liability waivers before entering your home?
No. If your stair step collapsed while they are walking on it, you are liable. Not sure how you would absolve yourself of that.
by Wellfleet
Fri Jun 18, 2021 3:18 pm
Forum: Personal Consumer Issues
Topic: How to save on water costs?
Replies: 91
Views: 7911

Re: How to save on water costs?

Check out thelawnforum.com for watering tips. At a maximum you should only be watering a few times a week, but for longer. This helps with lawn diseases as well. I think a lawn outside of desert climates only needs some water every few weeks to stay dormant but I may be wrong.

Hire a landscaper designer to help reduce lawn area and replace with drought tolerant plants. Going to Home Depot and plopping in a few isn’t going to do it.
by Wellfleet
Sun Jun 13, 2021 7:12 am
Forum: Personal Consumer Issues
Topic: What would you do and why? [HELOC to buy used Porsche]
Replies: 83
Views: 8977

Re: What would you do and why? [HELOC to buy used Porsche]

squirm wrote: Sat Jun 12, 2021 11:55 pm I remember lots of people throwing their SUV, Hummers and other toys onto a home equity loan over a dozen years ago, but then they got wiped out in the bear.
This time is different (Tm.) I’d do JackFFRs approach with a car loan. I know someone who did the HELOC approach and I think it was pre-2017 tax law change. Now it makes less sense. The colleague may or may not be aware of that change.
by Wellfleet
Fri Jun 11, 2021 9:23 am
Forum: Personal Consumer Issues
Topic: Income req’d to afford pricey private school tuition?
Replies: 21
Views: 5435

Re: Income req’d to afford pricey private school tuition?

Jack FFR1846 wrote: Fri Jun 11, 2021 9:09 am
And to add, work with the school to try to get help paying for an appropriate school. We needed to use an attorney and pay lots of money to eventually get part payment and for the school to pay for transportation.
I think you are talking about getting the public school to pay for disability services they cannot adequately provide themselves? Might be helpful to clarify for others.
by Wellfleet
Thu Jun 10, 2021 7:46 pm
Forum: Personal Investments
Topic: Any reason to hold on to bonds now???
Replies: 55
Views: 11619

Re: Any reason to hold on to bonds now???

Yes I have whatever percentage bonds are in the target retirement funds I’m invested in.
by Wellfleet
Thu Jun 03, 2021 9:49 am
Forum: Investing - Theory, News & General
Topic: I'm calling a bottom in real estate
Replies: 139
Views: 20300

Re: I'm calling a bottom in real estate

Beach wrote: Thu Jun 03, 2021 9:41 am
UpperNwGuy wrote: Wed Jun 02, 2021 10:47 pm
countmein wrote: Wed Jun 02, 2021 10:24 pm Demographics and trends. Millenials want to buy. Gen X isn't going back to renting. Post-pandemic, Americans are hot on suburbs. These are not flash in the pan trends.
I disagree with you on your statement, "Americans are hot on suburbs." I live in a city that was gentrifying rapidly before the pandemic as folk left the suburbs to return to the city. The pandemic doesn't appear to have changed that trend.
Where are you at? This seems to not be the norm
The WSJ named smaller cities like Greenville, SC, Des Moines IA and Provo, UT as growing rapidly. This may be a different experience from NYC/Chi/LA/SF.

https://www.wsj.com/articles/the-breako ... 1620584178
by Wellfleet
Mon May 31, 2021 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Google Security Snafu
Replies: 0
Views: 660

Google Security Snafu

I read on Bogleheads yesterday about the importance of 2 step authentication using VIP access or yubitkey for Fidelity. I download VIP Access for Fidelity, add it for Gmail using a QR code and off we go. Today in the VIP access app I noticed to "cookie" like items, one for gmail that I swipe to delete. I then try to log into Gmail and use VIP access, no luck. I think I wiped the QR-code link Gmail sent me and saved in VIP Access.

Bottom line, does anyone know if there is a way to fix this issue with Google, like have them send me the QR code again? I have my username, password, recovery phone number and email but it's stuck telling me I need to use Google Authenticator. I'm giving the Google forums a try too.

Thanks everyone.
by Wellfleet
Sun May 30, 2021 6:37 am
Forum: Personal Finance (Not Investing)
Topic: HSA money, use it or save it for later
Replies: 95
Views: 12294

Re: HSA money, use it or save it for later

The prospect of paying for medical treatment 100% out of pocket may lead some to defer or neglect care. This may be penny wise and pound foolish. In theory a HDHP is supposed to lower costs as it is supposed the consumer will shop around for the most affordable care. In practice HDHPs save money because the consumer avoids care. I recommend one contribute to an HSA and keep it in cash until one has reached the maximum deductible amount. Freely use this amount to pay for medical expenses as they occur. Tell yourself your medical costs (if any) for the year have been prepaid so there’s never a financial hesitancy in seeking it. Once you have more in the HSA then the deductible that portion can be invested for growth. Agree with this. Spouse ...