Search found 119 matches

by 523HRR
Mon Oct 05, 2020 5:50 pm
Forum: Personal Finance (Not Investing)
Topic: If you have a pension, how do you view it?
Replies: 190
Views: 12686

Re: If you have a pension, how do you view it?

DB pensions from mega corp will cover our spending/taxes, and consider this a fixed income component of our cash flows. This provides confidence for a high (>90%) asset allocation to equities.
by 523HRR
Tue Sep 29, 2020 4:40 pm
Forum: Investing - Theory, News & General
Topic: What did your accounts look like in your 30's?
Replies: 89
Views: 7918

Re: What did your accounts look like in your 30's?

Took mega corp job right out of college. Soon transitioned to 100% travel for ~5 years. No residence, no car, virtually no expenses. Used brother’s address in TX, so no state income tax. Hit liquid net worth >$1 million by 30.
by 523HRR
Tue Sep 29, 2020 4:18 pm
Forum: Personal Investments
Topic: How to combine finances with your spouse? Recently married/early30s
Replies: 55
Views: 4239

Re: How to combine finances with your spouse? Recently married/early30s

Married almost 25 years. No prenup. Never had a joint account. It has worked well for us.
by 523HRR
Sat Aug 22, 2020 5:56 pm
Forum: Personal Consumer Issues
Topic: Is it worth to relocate for retirement?
Replies: 140
Views: 13424

Re: Is it worth to relocate for retirement?

Following our retirement, we moved from Connecticut to Florida in June 2018. Seeing this post, I went back and had a quick look at certain pertinent expenses during our first full year in FL compared with our last full year in CT. As you might expect, there are significant financial benefits to maki...
by 523HRR
Thu Jul 09, 2020 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Who has long term care insurance?
Replies: 119
Views: 6114

Re: Who has long term care insurance?

My wife and I have each had a LTC policy from Genworth for many years. My policy currently has Annual Premium of $1,096 with Daily Benefit of $522 and Lifetime Benefit of $1,044,000. Wife's policy has Annual Premium of $1,237 with Daily Benefit of $452 and Lifetime Benefit of $1,048,000. Used to be...
by 523HRR
Wed Jul 08, 2020 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: Who has long term care insurance?
Replies: 119
Views: 6114

Re: Who has long term care insurance?

My wife and I have each had a LTC policy from Genworth for many years. My policy currently has Annual Premium of $1,096 with Daily Benefit of $522 and Lifetime Benefit of $1,044,000. Wife's policy has Annual Premium of $1,237 with Daily Benefit of $452 and Lifetime Benefit of $1,048,000. Used to be...
by 523HRR
Tue Jul 07, 2020 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: Who has long term care insurance?
Replies: 119
Views: 6114

Re: Who has long term care insurance?

My wife and I have each had a LTC policy from Genworth for many years. My policy currently has Annual Premium of $1,096 with Daily Benefit of $522 and Lifetime Benefit of $1,044,000. Wife's policy has Annual Premium of $1,237 with Daily Benefit of $452 and Lifetime Benefit of $1,048,000. Used to be ...
by 523HRR
Thu Jun 18, 2020 3:57 pm
Forum: Personal Consumer Issues
Topic: Tipping why % of bill and not flat amount?
Replies: 159
Views: 9440

Re: Tipping why % of bill and not flat amount?

15% tip is appropriate for most situations.
by 523HRR
Thu Jul 04, 2019 3:23 pm
Forum: Personal Finance (Not Investing)
Topic: Do you share your net worth with family members?
Replies: 252
Views: 24036

Re: Do you share your net worth with family members?

What would be the upside benefit of divulging your net worth details outside of spouse or grown children? Lots of regrets in this area I’m guessing.
by 523HRR
Sat Nov 10, 2018 6:26 pm
Forum: Personal Consumer Issues
Topic: Which one: Lyft or Uber?
Replies: 57
Views: 4921

Re: Which one: Lyft or Uber?

I have both apps; don’t see much difference between Uber and Lyft; many drivers drive for both services. I just bring up my ride search on both apps and just choose whichever is cheapest (usually Lyft).
by 523HRR
Sun Aug 12, 2018 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: The Best HSA
Replies: 79
Views: 14445

Re: The Best HSA

Recommend Optum Bank HSA: We pay ZERO fees with $2K cash balance + ~$95K invested in VTSAX.
by 523HRR
Sun Jan 07, 2018 7:20 pm
Forum: Investing - Theory, News & General
Topic: Backdoor Roth: How Long To Wait For Conversion?
Replies: 58
Views: 29601

Re: Backdoor Roth: How Long To Wait For Conversion?

For many years, we always did our backdoor Roth conversions instantaneously through Schwab. Traditional IRA contributions via internal transfer from Schwab taxable account are given instant credit in the tIRA. Funds are then immediately available to be converted to our Schwab Roth IRAs. The whole pr...
by 523HRR
Thu Dec 21, 2017 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Pre-Pay Property Taxes in 2017?
Replies: 25
Views: 3866

Re: Pre-Pay Property Taxes in 2017?

HillCountry wrote: Wed Dec 13, 2017 10:41 pm What ivk5 said. AMT.
Same for me. Was going to prepay my property tax before the end of 2017. But I ran the numbers and, because I'm into AMT, it made zero difference on my overall tax liability.
by 523HRR
Thu Dec 21, 2017 5:29 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 80701

Re: Fidelity free Turbotax

MisterBill wrote: Wed Dec 20, 2017 4:56 pm More correctly, you have to "purchase" it for $0 and then you can download it. You don't just download it without going thru the purchase process.
This worked for me. fwiw, not an active trader, just Private Client.
by 523HRR
Mon Dec 18, 2017 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Megacorp wants to change my bonus!
Replies: 25
Views: 5326

Re: Megacorp wants to change my bonus!

The vesting schedule for the equity component means that at whatever point you want to leave for something better, you will always be leaving money on the table. Take the cash.
by 523HRR
Thu Nov 16, 2017 12:35 pm
Forum: Personal Finance (Not Investing)
Topic: Fair way to split expenses?
Replies: 105
Views: 7458

Re: Fair way to split expenses?

separate accounts is possible and can work, as long as you both always remember that marriage is a partnership and you don't nickel and dime each other. My husband and I never set up a joint account. We still have our individual accounts, and roughly split up bills based on % of income earned. This...
by 523HRR
Wed Nov 15, 2017 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: How unwise is it to move to a high-tax fiscally-shaky state? (Connecticut)
Replies: 50
Views: 5266

Re: How unwise is it to move to a high-tax fiscally-shaky state? (Connecticut)

We moved to southwest CT from overseas in 1999 when our son was 1. Raising our son here was a pleasure. Now that he is in college, we are making plans to move to Florida. Great place to raise kids; retirement...not so much.
by 523HRR
Thu Nov 09, 2017 4:54 pm
Forum: Personal Finance (Not Investing)
Topic: Interviewing at a former employer, should I give them my current salary when they ask?
Replies: 94
Views: 8600

Re: Interviewing at a former employer, should I give them my current salary when they ask?

It's a straightforward question. Just answer it, and make your compensation expectations clear. Dancing around this just makes you look bad.
by 523HRR
Thu Oct 12, 2017 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: HSA’s: What level of risk do you prefer?
Replies: 58
Views: 5902

Re: HSA’s: What level of risk do you prefer?

Meaty wrote: Mon Oct 09, 2017 6:01 pm My HSA is 100% total stock market. I don’t, however, use it to pay medical expenses. I use it as a tax free way to save for medical expenses in retirement (20+ years from now) so I’m looking for maximizing growth.
+1
100% VTSAX
by 523HRR
Wed Sep 27, 2017 4:38 pm
Forum: Personal Finance (Not Investing)
Topic: Lively HSA offers first dollar investing
Replies: 350
Views: 66255

Re: New HSA provider Lively offers investments for $30/yr fee

We save with OptumBank HSA. No fees. Funds are invested with Vanguard VTSAX at 0.04% expense ratio. Very happy. According to HSA Search, you are paying .03% portfolio fee plus a minimum of $3k or $2.75 monthly. Is that correct? If so Lively would seem to be slightly cheaper as well as having the fu...
by 523HRR
Wed Sep 27, 2017 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Lively HSA offers first dollar investing
Replies: 350
Views: 66255

Re: New HSA provider Lively offers investments for $30/yr fee

We save with OptumBank HSA. No fees. Funds are invested with Vanguard VTSAX at 0.04% expense ratio. Very happy.
by 523HRR
Sun Sep 03, 2017 2:22 pm
Forum: Personal Finance (Not Investing)
Topic: Great Property Tax Site
Replies: 11
Views: 1359

Re: Great Property Tax Site

Looked up my house - their calculations are all messed up. First, they use an average rate for the county but in CT, taxes are assessed by each of the 169 towns. The mill rate can vary from 10 mills to 75. Secondly, the assessed value is 70% of market value. They underestimated my taxes by about 50...
by 523HRR
Thu Aug 31, 2017 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: How many "investment" accounts do you have?
Replies: 73
Views: 10572

Re: How many "investment" accounts do you have?

Do you ever think about simplifying or consolidating? Yes, but it's a slow process for us as the legacy employer stuff is rather inflexible. Also, taxable accounts are titled in our individual trusts, respectively, so this tends to double up. Regardless, we monitor our asset allocation in totality ...
by 523HRR
Thu Aug 31, 2017 12:18 pm
Forum: Personal Finance (Not Investing)
Topic: How many "investment" accounts do you have?
Replies: 73
Views: 10572

Re: How many "investment" accounts do you have?

Married couple.
37 financial accounts:

2 x checking
2 x savings
2 x money market
9 x brokerage accounts
5 x t-IRA
4 x Roth IRA
2 x 401k
6 x contributory pensions
2 x deferred compensation
1 x HSA
1 x ESA
1 x 529
by 523HRR
Sun Jul 30, 2017 1:51 pm
Forum: Personal Finance (Not Investing)
Topic: Internal Job Offer Negotiations
Replies: 20
Views: 14228

Re: Internal Job Offer Negotiations

In my experience, internal promotional increases in large companies were quite healthy in the 80s and 90s. These days, zero increases for internal moves are not unusual. Your best leverage will be an external offer. Always keep your options open while communicating your desire to stay with the compa...
by 523HRR
Sat Jul 29, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Grandson just got married. Wants to add wife's name to accts
Replies: 32
Views: 5399

Re: Grandson just got married. Wants to add wife's name to accts

FelixTheCat wrote:My suggestion is do not commingle premarital property.
+1 Have been happily married over 20 years now and never had a joint account. Only our house is titled in both our names. Has worked well for us.
by 523HRR
Mon Jul 03, 2017 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Can you share some of your financial goals?
Replies: 68
Views: 11234

Re: Can you share some of your financial goals?

These are the financial goals my wife and I set during our accumulation years (now retired): • Maximize wealth building, within an appropriate risk tolerance, so that we will not be poor in retirement. → Target = household net worth of $10 million and full retirement before age 55. • Maintain financ...
by 523HRR
Fri Jun 30, 2017 2:31 pm
Forum: Personal Finance (Not Investing)
Topic: Those who max 401k
Replies: 55
Views: 10397

Re: Those who max 401k

My wife and I both just set our 401k contributions at 10%. Once the IRS pre-tax annual limit was reached, contributions just continued on an after-tax basis but still got the company-match. After ER, we converted the after-tax contributions to tax-free Roth IRA.
by 523HRR
Tue Jun 27, 2017 5:42 am
Forum: Personal Finance (Not Investing)
Topic: Fund Parent's Trusts
Replies: 18
Views: 3581

Re: Fund Parent's Trusts

Thank you, bsteiner.
by 523HRR
Mon Jun 26, 2017 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Fund Parent's Trusts
Replies: 18
Views: 3581

Re: Fund Parent's Trusts

... This is how we structured our trusts in Connecticut. A Credit Shelter trust to take advantage of the full federal exemption, but a CT-only QTIP trust at the $2mm state estate tax exclusion amount. .... This is a common plan for people with medium size estates in states that allow a state-only Q...
by 523HRR
Sat Jun 24, 2017 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Fund Parent's Trusts
Replies: 18
Views: 3581

Re: Fund Parent's Trusts

The bottom line is that many people in Illinois (including the original poster's parents) should limit the credit shelter to $4 million and create a state-only QTIP trust for the remaining $1,490,000. This is how we structured our trusts in Connecticut. A Credit Shelter trust to take advantage of t...
by 523HRR
Wed Jun 21, 2017 9:50 am
Forum: Personal Finance (Not Investing)
Topic: HSAs and "Saving Medical Receipts"
Replies: 96
Views: 16229

Re: HSAs and "Saving Medical Receipts"

My HSA is currently worth ~$77K on cumulative contributions of ~$51K since 2010. It's not really a big deal for me to save down EOBs, itemized provider invoices, and tax returns. I appreciate the tax-free growth of the HSA and plan to just let it ride into retirement. Not that concerned with an IRS ...
by 523HRR
Wed May 31, 2017 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella Insurance options
Replies: 33
Views: 5028

Re: Umbrella Insurance options

I am currently paying $453 per year for $5 million umbrella liability coverage with Electric Insurance. Discounts for GE employees, but not a requirement.
by 523HRR
Wed May 24, 2017 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Amended taxes, still not showing in IRS website
Replies: 8
Views: 4407

Re: Amended taxes, still not showing in IRS website

Same thing happened to me. Amended return status never showed up. Called the IRS number (800-829-1040) after 8 weeks, and the representative eventually was able to confirm that they did receive the amended return and that they are still processing it. The prompts will eventually get you to a live pe...
by 523HRR
Thu May 18, 2017 6:27 pm
Forum: Investing - Theory, News & General
Topic: For those with $500k-$1m in investments...
Replies: 211
Views: 33603

Re: For those with $500k-$1m in investments...

Age: 54 (Retired since 2012). Married.

42% Taxable
49% Tax-Deferred (401k, IRAs, Deferred Compensation, Voluntary Pension)
9% Tax-Free (Roth 401k, Roth IRAs, Education IRA, 529, HSA)
by 523HRR
Fri May 05, 2017 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning for mobile individuals
Replies: 3
Views: 712

Re: Estate Planning for mobile individuals

Just one person's experience.... Back in the 90s, I had a position with a mega corp that was 100% travel, so I lived entirely out of a suitcase and did not maintain a residence for about five years. I had a mailing service with a New York P.O. box, and I listed my brother's address in Texas as my 'o...
by 523HRR
Wed May 03, 2017 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: [POLL] What is your personal saving rate?
Replies: 63
Views: 8961

Re: [POLL] What is your personal saving rate?

Over 15-20 years, our combined gross incomes were in the high six figures. We saved around 50% of gross making liberal use of NQ deferred compensation plans. Federal and state income/payroll taxes ate up ~35%, and we lived on ~15% of gross income.
by 523HRR
Wed May 03, 2017 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Most "technologically savvy" bank?
Replies: 32
Views: 5338

Re: Most "technologically savvy" bank?

I have two accounts at Scottrade, titled exactly the same. I have to send a paper fax to move funds from one account to the other. The reps are absolutely embarrassed by this when I speak with them on the phone.
by 523HRR
Tue Apr 25, 2017 3:53 pm
Forum: Investing - Theory, News & General
Topic: Vanguard has switched to brokerage only accounts
Replies: 192
Views: 51744

Re: Vanguard has switched to brokerage only accounts

I never understood the point of the "non-brokerage" account model: multiple account numbers, multiple 1099s, ... Converted our mutual fund holdings to a single brokerage account a couple years ago; no problems; much simpler.
by 523HRR
Sat Apr 22, 2017 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Deferred Compensation - Tax Management
Replies: 13
Views: 2700

Re: Deferred Compensation - Tax Management

I would echo most of the other comments here. Our mega corp employer allowed deferral of up to 50% of base salary and 100% of incentive compensation annually. My wife and I both deferred every bonus over ~20 years, as well as some salary deferrals back in the 90s. Funds have been invested primarily ...
by 523HRR
Tue Apr 18, 2017 5:41 pm
Forum: Personal Finance (Not Investing)
Topic: Do you have an umbrella policy?
Replies: 295
Views: 42943

Re: Do you have an umbrella policy?

$5mm -- $453 annually.
by 523HRR
Tue Apr 04, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Saving 50% of salary; what does it really mean?
Replies: 142
Views: 19777

Re: Saving 50% of salary; what does it really mean?

For us, saving 50+% of gross income over 15+ years was achievable due to dual careers where both our incomes were eligible for non qualified deferred compensation plans; up to 100% of incentive compensation (bonuses) and up to 50% of base salary could be deferred, thereby avoiding current income tax...
by 523HRR
Tue Feb 28, 2017 3:37 pm
Forum: Investing - Theory, News & General
Topic: Anyone using Optum Bank for HSA?
Replies: 29
Views: 8795

Re: Anyone using Optum Bank for HSA?

no fees? I think as of recently they are now charging 0.03% per month on all investments. If you look closely I bet you are now paying this fee. Have never incurred a fee on my account, other than the embedded 5bps annual expense ratio for the Vanguard Admiral shares. Account fees may vary dependin...
by 523HRR
Mon Feb 27, 2017 6:27 pm
Forum: Investing - Theory, News & General
Topic: Anyone using Optum Bank for HSA?
Replies: 29
Views: 8795

Re: Anyone using Optum Bank for HSA?

Our HSA has been with Optum Bank for 7+ years now. We avoid all fees keeping $5K in cash and invest the rest in VTSAX. No complaints.
by 523HRR
Fri Jan 20, 2017 3:35 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity free Turbotax
Replies: 701
Views: 80701

Re: Fidelity free Turbotax

I purchased the TurboTax 2016 Premier disc through Costco for $70 and sent the invoice to my Fidelity Private Client rep. Reimbursement deposited to my account yesterday.
by 523HRR
Mon Jan 09, 2017 6:08 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 55996

Re: "Why 97% of People Don't Use 529 College Savings Plans."

We limit our annual 529 contribution to $10,000 as this is the amount that receives a state tax deduction in CT.
by 523HRR
Sun Jan 01, 2017 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Joint accounts and monthly budgeting
Replies: 6
Views: 1198

Re: Joint accounts and monthly budgeting

Happily married for over 20 years now, and we've never had a joint account. Has worked well for us.
by 523HRR
Tue Dec 27, 2016 4:18 pm
Forum: Personal Finance (Not Investing)
Topic: Hit salary cap. Receiving lump sum in lieu of raise
Replies: 51
Views: 9415

Re: Hit salary cap. Receiving lump sum in lieu of raise

Based on my own long career in a mega corp, your company is informing you that, unless you are promoted to a higher level, your compensation growth is being throttled back and that your future earning potential will be limited in your current position. Start looking outside if your desire is to achi...