Search found 478 matches

by fourwheelcycle
Fri Nov 16, 2018 8:35 am
Forum: Personal Finance (Not Investing)
Topic: What to do with RMD - 91 Year Old Mom
Replies: 18
Views: 1404

Re: What to do with RMD - 91 Year Old Mom

I think my mom will have enough funds even if she goes into assisted living but she’s so scared of not having enough money she won’t gift any of the kids or grandkids until she passes. And she doesn’t believe in giving to charities (yeah, I know). I could not see a comment on how much other accessi...
by fourwheelcycle
Wed Nov 14, 2018 4:53 pm
Forum: Personal Consumer Issues
Topic: Quality pea coat vs parka
Replies: 10
Views: 1069

Re: Quality pea coat vs parka

Peacoats from Army Surplus stores are all wool, inexpensive, well made and stylish. They sell new ones as well as used, typically. During college in the late 1960s I started out with my father's authentic Navy peacoat from WWII. I thought it was very stylish and cool, but as soon as winter arrived ...
by fourwheelcycle
Mon Nov 12, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: At what point does a life insurance policy not make sense?
Replies: 16
Views: 1743

Re: At what point does a life insurance policy not make sense?

My wife and I had very stable jobs with good health insurance and short and long term disability insurance. We did not have our two children until our mid-thirties. By that time we had a good start on our savings and 2X salary term insurance through our employers. As a result, we never felt we neede...
by fourwheelcycle
Sat Nov 10, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Amazon says TurboTax 2018 will be released November 12
Replies: 61
Views: 6264

Re: Amazon says TurboTax 2018 will be released November 12

Amazon has complaints that the Deluxe including State isn't actually including State and wants you to pay again for the state. Anybody had any experience? I want to do some end-of-year Roth planning as well. Yes - me! I bought the Deluxe plus one free state and free federal efile for five submissio...
by fourwheelcycle
Wed Nov 07, 2018 8:38 am
Forum: Personal Finance (Not Investing)
Topic: How much money did you receive from family? (Gifts/inheritance)
Replies: 46
Views: 4387

Re: How much money did you receive from family? (Gifts/inheritance)

My wife and I were fortunate that our parents were able to pay for our full college expenses. We met in graduate school, where we each received full scholarships and stipends that covered our living expenses. We have not received any inheritances or other gifts to date. We expect to receive a few hu...
by fourwheelcycle
Tue Nov 06, 2018 10:24 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14558

Re: How much money are you leaving your kids after you die?

I wanted to leave half to our children and half to charity. My wife wanted to leave everything to our children. We ultimately agreed to leave 75% to our children and 25% to charity. Just wanted to say how impressed I am that you and your wife were able to agree to split the difference, so to speak....
by fourwheelcycle
Tue Nov 06, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: How much money are you leaving your kids after you die?
Replies: 234
Views: 14558

Re: How much money are you leaving your kids after you die?

I wanted to leave half to our children and half to charity. My wife wanted to leave everything to our children. We ultimately agreed to leave 75% to our children and 25% to charity.
by fourwheelcycle
Tue Nov 06, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: Do I need more than Original Medicare?
Replies: 110
Views: 6111

Re: Do I need more than Original Medicare?

Are you aware of penalty for not signing up for Medicare Part D now? Medicare D has open enrollment each year, but you'll pay for the delay for the rest of your life. Medicare Part D Late Enrollment Penalty Interesting to note that many people are upset by the tax penalty if uninsured eligibles do ...
by fourwheelcycle
Tue Nov 06, 2018 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Income in retirement?
Replies: 14
Views: 1931

Re: Income in retirement?

Another boring BH response - we are about age 70 and all of our savings are in total stock market and intermediate bond market index funds, with the ratio set to suit our risk tolerance. Before we retired we had all of our taxable dividend distributions set to reinvest and we paid the taxes out of o...
by fourwheelcycle
Mon Nov 05, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: One Trust or Two Trusts?
Replies: 3
Views: 403

Re: One Trust or Two Trusts?

Here's some advice from a complete novice - undoubtedly legally correct and very valuable! My wife and I have one joint revocable trust (JRT). When the first spouse dies NOTHING happens, as far as I know. The second spouse simply continues as the sole remaining trustee of the trust and does whatever...
by fourwheelcycle
Sun Nov 04, 2018 7:00 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching kids there is an ample amount of money
Replies: 108
Views: 7958

Re: Teaching kids there is an ample amount of money

We live in a pretty nice neighborhood - not the nicest in town but definitely OK. Once, when everyone on our street had young kids, our neighbor's son was invited over to play at the house of a friend who lived in the biggest house in the most expensive neighborhood in our town. The house had/has a ...
by fourwheelcycle
Sun Nov 04, 2018 6:42 pm
Forum: Personal Finance (Not Investing)
Topic: Tax software: online vs download versions
Replies: 15
Views: 1776

Re: Tax software: online vs download versions

I'm not sure if my memory is correct, or if this concern still applies, but I once had to submit an amended federal income tax a year (or two?) after my initial online submission. When I asked Turbotax how to do it they said "You can't amend a previous year's tax submission with the current year onl...
by fourwheelcycle
Sun Nov 04, 2018 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Helping Mom after Dad died talking with financial institutions
Replies: 8
Views: 923

Re: Helping Mom after Dad died talking with financial institutions

I was POA and executor for my elderly aunt the last three years of her life. I found that a POA and a dime, or $1.50, would get me a cup of coffee as far as most financial institutions and insurance companies were concerned, unless I wanted to to spend several weeks and make trips to the bank for me...
by fourwheelcycle
Sat Nov 03, 2018 6:57 pm
Forum: Personal Consumer Issues
Topic: Good Non-Boring Boglehead Cars Under $30k
Replies: 247
Views: 16841

Re: Good Non-Boring Boglehead Cars Under $30k

I haven't read all the posts. Has someone else suggested a used BMW 2 series coupe, four cylinder turbo?
by fourwheelcycle
Sat Nov 03, 2018 6:16 pm
Forum: Personal Consumer Issues
Topic: Multiple newspaper and magazine subscriptions - how much do you pay to stay informed?
Replies: 51
Views: 2370

Re: Multiple newspaper and magazine subscriptions - how much do you pay to stay informed?

We subscribe to our local paper, NYT online, Washington Post online, and The Economist.
by fourwheelcycle
Fri Nov 02, 2018 4:03 pm
Forum: Personal Finance (Not Investing)
Topic: Can I have my SS deposited directly into a Vanguard MM fund?
Replies: 7
Views: 1186

Re: Can I have my SS deposited directly into a Vanguard MM fund?

We always had our paychecks deposited to our BoA account and then transferred what we didn't spend to our Vanguard account. Now that I am retired, with my wife receiving half of my SS benefit since she turned 66, and me receiving my full benefit since I turned 70, we have those checks deposited to o...
by fourwheelcycle
Sun Oct 28, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Is a 529 account a reasonable alternative to gifting money to children in a trust?
Replies: 2
Views: 453

Is a 529 account a reasonable alternative to gifting money to children in a trust?

A 529 account is intended as a tax-advantaged way to gift money to a child to fund their college education. A UGMA account is an alternative way to gift money to a child, but requires that the child be advised of the funds and given the opportunity to withdraw them at a certain age. If you want to c...
by fourwheelcycle
Thu Oct 25, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Net worth compared to Medicare earnings
Replies: 16
Views: 1566

Re: Net worth compared to Medicare earnings

SSA maintains records of SSA earnings, which stop at the annual FICA tax limit, and Medicare earnings, which should equal W2 earnings (I think). I keep track of the accuracy of our SSA records. For my wife and me, our SSA earnings have always been accurate, but SSA's record of my Medicare earnings w...
by fourwheelcycle
Tue Oct 23, 2018 7:42 pm
Forum: Personal Finance (Not Investing)
Topic: Disclaim inheritance to grandchild's 529 account?
Replies: 6
Views: 669

Re: Disclaim inheritance to grandchild's 529 account?

Thanks to all. Now that people have pointed it out, I do remember reading that when you disclaim an inheritance it simply goes to the next person in line.
by fourwheelcycle
Tue Oct 23, 2018 6:31 pm
Forum: Personal Finance (Not Investing)
Topic: Disclaim inheritance to grandchild's 529 account?
Replies: 6
Views: 669

Disclaim inheritance to grandchild's 529 account?

I will be inheriting $150K in the near future and I would like to use the money to fund our new grandchild's 529 account. One way to do this would be to accept the inheritance, deposit the funds to a joint account owned with my wife, and then superfund our grandchild's 529 account, filing the necess...
by fourwheelcycle
Sun Oct 14, 2018 9:26 am
Forum: Personal Finance (Not Investing)
Topic: Fidelity "FidSafe" Free online storage of documents - is this safe?
Replies: 26
Views: 6614

Re: Fidelity "FidSafe" Free online storage of documents - is this safe?

I spent a lot of time figuring out the most secure way to provide emergency access to our key succession planning documents to our adult children in the event my wife and I go down in a plane crash or I die and my wife needs assistance accessing and managing our finances (she has no interest or invo...
by fourwheelcycle
Thu Oct 04, 2018 8:58 am
Forum: Personal Finance (Not Investing)
Topic: How many months/years of living expenses do you save each year?
Replies: 29
Views: 3489

Re: How many months/years of living expenses do you save each year?

When my wife and I were working about 25% of our taxable income went to federal and state taxes. The rest was divided almost equally between other living expenses and savings. Now that we are retired we have almost the same pattern, except we no longer reinvest our taxable dividends and all of our o...
by fourwheelcycle
Mon Oct 01, 2018 7:58 pm
Forum: Investing - Help with Personal Investments
Topic: Bonds... Why do people bother with them. ?
Replies: 71
Views: 7491

Re: Bonds... Why do people bother with them. ?

If you saved over your whole career, putting all your savings in stocks, and then lived another thirty years after you retired in September, 1929 or January, 1966, you would have have seen the market drop and not return to your pre-retirement level for the rest of your life. Eyeballing the numbers, ...
by fourwheelcycle
Mon Oct 01, 2018 7:52 am
Forum: Investing - Help with Personal Investments
Topic: Domestic-International Equity Ratio at Retirement
Replies: 12
Views: 710

Re: Domestic-International Equity Ratio at Retirement

I am a strong believer that your portfolio should reflect whatever makes you worry about it as little as possible. During my thirties I used to actively manage our savings with a mix of individual stocks and bonds plus domestic and international stock and bond funds. By my late thirties I decided fr...
by fourwheelcycle
Sun Sep 30, 2018 8:02 am
Forum: Investing - Help with Personal Investments
Topic: Desperate for FInancial Help
Replies: 11
Views: 1273

Re: Desperate for FInancial Help

People on this forum want to be helpful, and many of them (not me!) are extremely knowledgeable. However, only you know the type of help you are desperate for. If you are comfortable posting all of your financial numbers, knowledgeable people on this forum can give you very good advice about what yo...
by fourwheelcycle
Fri Sep 28, 2018 2:00 pm
Forum: Personal Consumer Issues
Topic: Counterfeits benefit Amazon
Replies: 14
Views: 1459

Re: Counterfeits benefit Amazon

I read the article and I am upset, but perhaps not surprised, to see Amazon's response on the issue of counterfeits. I have purchased relatively low cost items at Amazon where the reviews clearly indicated a risk I might receive a counterfeit. Pictures and descriptions of key differences between the...
by fourwheelcycle
Thu Sep 27, 2018 1:06 pm
Forum: Investing - Help with Personal Investments
Topic: Secondary beneficiary for JTWROS brokerage account
Replies: 24
Views: 1357

Re: Secondary beneficiary for JTWROS brokerage account

It is unfortunate Vanguard does not allow for a contingent or TOD style beneficiary on JTWROS accounts. I mean, a major reason for all this planning is to AVOID probate in all possible, even very unlikely, scenarios for survivors. My wife and I had individual taxable accounts at Vanguard since the ...
by fourwheelcycle
Mon Sep 24, 2018 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Savings rate: gross or net?
Replies: 68
Views: 8776

Re: Savings rate: gross or net?

If you are actually "doing it" you can only save from money you have available, which suggests you would use net income to calculate your savings rate. However, if you are "analyzing it", as in each year 22% of my income goes to federal and state taxes, 40% goes to all other expenses, and I save the...
by fourwheelcycle
Sat Sep 22, 2018 10:41 am
Forum: Personal Consumer Issues
Topic: What to wear for job interview - skip the tie?
Replies: 83
Views: 9226

Re: What to wear for job interview - skip the tie?

Another tie vote. When we interview the applicants change into scrubs about 20 min into the interview, for the rest of the interview (tour the operating rooms etc). The ones who take the time to wear business attire (with suit) are the norm. I remember I used to see small groups of twenty-something...
by fourwheelcycle
Wed Sep 19, 2018 8:07 pm
Forum: Investing - Theory, News & General
Topic: Equity allocation for Flagship clients?
Replies: 47
Views: 3978

Re: Equity allocation for Flagship clients?

So I am wondering, for those who are Flagship clients and no longer in the accumulation phase, what equity allocation do you hold (and why)? I am a Flagship client, and at age 70, retired for ten years, I am definitely no longer in the accumulation phase. During our thirties I aimed for 25% bonds a...
by fourwheelcycle
Mon Sep 17, 2018 6:47 pm
Forum: Personal Finance (Not Investing)
Topic: how do/did you teach your kids finances/investing?
Replies: 28
Views: 2308

Re: how do/did you teach your kids finances/investing?

We never did any formal finance training with our two sons, although I do remember our older son had a course in high school that required him to go to a car store with one of his parents (me) to "shop" for a car, including asking about car loans, interest rates, and requirements to qualify for a lo...
by fourwheelcycle
Mon Sep 17, 2018 6:42 am
Forum: Personal Finance (Not Investing)
Topic: How did you decide when to retire?
Replies: 54
Views: 8282

Re: How did you decide when to retire?

I am also in academia. Our former chair retired at 60 and died at 70 last year. Our secretary retired at 62 and died a week ago at 71. My father retired at 62 after seeing too many friends retire at 65 and die at 68 or 70. He is now 96, played golf twice a week until age 92, and only sold his house...
by fourwheelcycle
Sun Sep 16, 2018 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: Mid 30s Couple - Life Insurance Qs
Replies: 3
Views: 479

Re: Mid 30s Couple - Life Insurance Qs

You have not told us about your savings, your monthly expenses or target spending level, wife's desire to continue working or stop when kids arrive, and husband's and wife's job security and likely future income trajectory. If you know the answers to these questions you should be able to assess the ...
by fourwheelcycle
Sun Sep 16, 2018 11:51 am
Forum: Personal Finance (Not Investing)
Topic: [AARP Article re: ID Theft & Dark Web]
Replies: 32
Views: 4018

Re: Dark Web Article

I still have trouble accepting that number 3 is the best way to go. Makes me nervous to have all of my passwords "out there" - and in one place, even if in encrypted form. I am open to being convinced, though. I use 1Password's licensed version. I have it set up to stay entirely on my own computers...
by fourwheelcycle
Sun Sep 16, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: [AARP Article re: ID Theft & Dark Web]
Replies: 32
Views: 4018

Re: Dark Web Article

I still have trouble accepting that number 3 is the best way to go. Makes me nervous to have all of my passwords "out there" - and in one place, even if in encrypted form. I am open to being convinced, though. I use 1Password's licensed version. I have it set up to stay entirely on my own computers...
by fourwheelcycle
Tue Sep 11, 2018 12:12 pm
Forum: Personal Consumer Issues
Topic: Amazon Prime - Value?
Replies: 89
Views: 7578

Re: Amazon Prime - Value?

Hmm, our Amazon Prime account just renewed for $99 in August. I don't know why they only charged us $99, but I note they say our next renewal will be for $119 in August, 2019. Either way, since we use our Amazon Prime Rewards Visa Signature Card, which provides a 5% credit for all Amazon purchases, ...
by fourwheelcycle
Mon Sep 10, 2018 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Taking on project work after retirement?
Replies: 11
Views: 1152

Re: Taking on project work after retirement?

I retired ten years ago, at age 60. When I retired, my employer had no one to step in for an important component of my job and I offered to work as a consultant until they hired someone to replace me. They did hire a replacement, but the new person didn't want to learn and take on the work I was doi...
by fourwheelcycle
Sun Sep 09, 2018 2:32 pm
Forum: Personal Finance (Not Investing)
Topic: $250,000 family loan to parents?
Replies: 50
Views: 4677

Re: $250,000 family loan to parents?

It seems like you have limited options. You can't gift the money and let your parents gift it back, since that would be a loan. You can make it a formal loan and let them pay you back with interest at the IRS' required minimum rate, and you would have to report the interest as income. You could also...
by fourwheelcycle
Thu Sep 06, 2018 4:45 pm
Forum: Personal Consumer Issues
Topic: Need suggestion for firm foam mattress
Replies: 19
Views: 1797

Re: Need suggestion for firm foam mattress

Last year we bought an all latex Spindle Mattress. https://shop.spindlemattress.com/products/latex-mattress-8 They come with three separate layers and a very excellent zip-up external cotton cover with a quilted top. The layers are soft, medium and firm. If you ask for a firm mattress they will reco...
by fourwheelcycle
Fri Aug 31, 2018 8:15 am
Forum: Personal Finance (Not Investing)
Topic: How do you store financial account information with your estate plan?
Replies: 51
Views: 3385

Re: How do you store financial account information with your estate plan?

1. Search the internet and learn about zero knowledge cloud security. Here is a starting point: https://www.cloudwards.net/what-exactly-is-zero-knowledge-in-the-cloud-and-how-does-it-work/ 2. Go to Sync.com and set up a free 5GB zero knowledge cloud storage account. 3. Set up a target Sync folder on...
by fourwheelcycle
Sat Aug 18, 2018 12:53 pm
Forum: Personal Finance (Not Investing)
Topic: 529 for Long Term Savings?
Replies: 9
Views: 919

Re: 529 for Long Term Savings?

The numbers are kind of reversed. If you withdraw in the same year, there is virtually no penalty or tax since the earnings are minimal. If you withdraw in 50-60 years, then the balance will be mostly earnings which will all be taxed and penalized. You're right! I got it totally wrong - I don't kno...
by fourwheelcycle
Sat Aug 18, 2018 9:42 am
Forum: Personal Finance (Not Investing)
Topic: 529 for Long Term Savings?
Replies: 9
Views: 919

Re: 529 for Long Term Savings?

Did you factor in paying ordinary rates rather than long term capital gains rates upon withdrawal? No. I only looked at the 10% penalty on withdrawals of principal. From that perspective, if you let the balance grow until retirement, it looked a lot like a personal IRA, but without RMDs and only a ...
by fourwheelcycle
Sat Aug 18, 2018 8:56 am
Forum: Personal Finance (Not Investing)
Topic: 529 for Long Term Savings?
Replies: 9
Views: 919

529 for Long Term Savings?

Edit - See below - I got this calculation totally wrong! The thread should be removed. We are beginning to fund 529 college savings accounts for our grandchildren. One consideration, of course, is that it is difficult to know how much their college education will cost. I put together a spreadsheet t...
by fourwheelcycle
Thu Aug 16, 2018 4:25 pm
Forum: Personal Consumer Issues
Topic: Biking with 2 young children - what gear to get?
Replies: 26
Views: 1537

Re: Biking with 2 young children - what gear to get?

....Other possibility is that he has an electric assist bike. That has to be it. I have not looked closely at his bike - after all, I am working pretty hard myself when I see him! It does seem sort of superhuman. If I see him again I'll look closely at his bike, if I can. I happened to see the fath...
by fourwheelcycle
Thu Aug 16, 2018 10:51 am
Forum: Personal Finance (Not Investing)
Topic: Marriage Name Change Logistics
Replies: 14
Views: 1581

Re: Marriage Name Change Logistics

When we were married my wife was advised not to change her name because she was entering a profession and would not want to become known by a name she might not keep. She changed her name anyway. So far, forty-three years later, it has not been a problem.
by fourwheelcycle
Tue Aug 14, 2018 7:32 pm
Forum: Personal Consumer Issues
Topic: Biking with 2 young children - what gear to get?
Replies: 26
Views: 1537

Re: Biking with 2 young children - what gear to get?

....Other possibility is that he has an electric assist bike. That has to be it. I have not looked closely at his bike - after all, I am working pretty hard myself when I see him! It does seem sort of superhuman. If I see him again I'll look closely at his bike, if I can. I just turned 70 and my he...
by fourwheelcycle
Tue Aug 14, 2018 3:42 pm
Forum: Personal Consumer Issues
Topic: Biking with 2 young children - what gear to get?
Replies: 26
Views: 1537

Re: Biking with 2 young children - what gear to get?

We go on a bike vacation to ride the Acadia carriage paths every year and I am always amazed at the people I see with enclosed kiddie trailers. When I look through the netting I see one kid, two kids, or even one or two dogs. True story - we live on a road that is half-way up a one mile hill with a ...
by fourwheelcycle
Tue Aug 14, 2018 8:02 am
Forum: Personal Consumer Issues
Topic: Timing of car purchase during a model year
Replies: 17
Views: 1712

Re: Timing of car purchase during a model year

We usually buy new cars at the end the model year, since dealers seem more interested in offering good prices at that time.

However, we also keep our cars for eight to ten years, compared to four years for the OP, so for us year to year depreciation is a much lower consideration.
by fourwheelcycle
Sun Aug 12, 2018 7:25 pm
Forum: Personal Consumer Issues
Topic: Joint checking accounts.
Replies: 26
Views: 2156

Re: Joint checking accounts.

We have had joint accounts starting as soon as we were married - 42 years. One of our sons and his now wife lived together before they were married; they kept their paychecks going to their individual accounts and they paid equal amounts into a joint account they used to pay all household expenses.