Search found 458 matches

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: 6487

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: 3411

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: 7340

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: 693

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: 1233

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: 1427

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: 1327

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: 8413

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: 9014

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: 3954

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: 2290

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: 8240

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: 474

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: 3998

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: 3998

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: 7498

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: 1129

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: 4634

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: 1771

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: 3342

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: 914

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: 914

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: 914

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: 1521

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: 1565

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: 1521

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: 1521

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: 1685

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: 2116

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.
by fourwheelcycle
Sun Aug 12, 2018 3:54 pm
Forum: Personal Finance (Not Investing)
Topic: personal injury lawsuit
Replies: 25
Views: 2667

Re: personal injury lawsuit

You are not telling us anything about your case. Are you contemplating suing a property owner for an injury you suffered on their property, or an uninsured driver? Or are you contemplating suing a provider? From my experience on the provider side, most providers and their insurance companies will of...
by fourwheelcycle
Mon Aug 06, 2018 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney: Implementation Report
Replies: 54
Views: 3944

Re: Durable Power of Attorney: Implementation Report

I'm surprised by [your experience with Vanguard] unless VG has changed their process. When I worked this 2 - 3 years ago for my wife with Alzheimer's, they required a notarized signature on their form. I am not sure of the details, only that it all worked out fine, with no problems that I recall. A...
by fourwheelcycle
Mon Aug 06, 2018 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Added as joint account owner - Is it a gift (gift/estate tax)? Is it a good idea?
Replies: 16
Views: 1258

Re: Added as joint account owner - Is it a gift (gift/estate tax)? Is it a good idea?

I am not a tax or estate expert, so I am just commenting on my own experience and inclinations. Also, I know people warn of potential shared liability problems if either person in a joint account runs into credit or lawsuit trouble. I have nothing to say about that risk, except that I am confident r...
by fourwheelcycle
Sat Aug 04, 2018 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Durable Power of Attorney: Implementation Report
Replies: 54
Views: 3944

Re: Durable Power of Attorney: Implementation Report

From my own experience, with my aunt some years ago and with my father more recently: Bank of America - A Walked into my local branch with my aunt, aged 90 at the time. No advance appointment. Waited ten minutes and we were able to meet with an officer. We had the executed POA prepared by my aunt's ...
by fourwheelcycle
Fri Aug 03, 2018 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Charitable giving strategy
Replies: 43
Views: 2399

Re: Charitable giving strategy

When we were working and raising a family my wife and I gave donations to a range of local charities and a few national charities as part of our regular annual spending. Now we are turning 70 and we do not need all of the income from our RMDs to support our annual expenses. This will enable us to co...
by fourwheelcycle
Tue Jul 31, 2018 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Choosing a trustee
Replies: 29
Views: 2068

Re: Choosing a trustee

When our children were young my wife and I had wills that left our money to each other in life trusts, with trusts for our children if we both died. We were fortunate that my mother and my father, an accountant and a natural BH, were in a position to raise our children if we happened to die. Our wil...
by fourwheelcycle
Sun Jul 29, 2018 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for son and daughter-in-law
Replies: 58
Views: 3140

Re: Life Insurance for son and daughter-in-law

......it would be foolish for a family to rely on vague impressions of ability and willingness to help should the unexpected occur. I don't think the commitment of loving parents to support their son, DIL, and grandchildren during hard times should be considered a "vague impression of willingness"....
by fourwheelcycle
Sun Jul 29, 2018 9:20 am
Forum: Personal Consumer Issues
Topic: Why dont people sit outside more? And how to deal with bugs?
Replies: 50
Views: 5486

Re: Why dont people sit outside more? And how to deal with bugs?

In our area we have ticks that carry Lyme disease and mosquitoes that carry West Nile virus and eastern equine encephalitis. I have a lightweight long sleeve shirt, long pants, and a baseball cap that I have treated generously with permethrin. I wear these outside when I am working in the yard or mo...
by fourwheelcycle
Sun Jul 29, 2018 8:55 am
Forum: Personal Finance (Not Investing)
Topic: Life Insurance for son and daughter-in-law
Replies: 58
Views: 3140

Re: Life Insurance for son and daughter-in-law

If I read the OP's question correctly, OP is saying son's and DIL's parents are in a position to provide them, and their children, with more than adequate support, in excess of any life insurance they might buy, if hard times come or if son and/or DIL should die. I assume this also means son and/or ...
by fourwheelcycle
Thu Jul 26, 2018 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Moral dilemma - What would you do?
Replies: 54
Views: 5815

Re: Moral dilemma - What would you do?

It is hard for me to imagine a "giant corp" that is not capable of doing its own due diligence to assess proposals that are better in meeting their needs, perhaps at higher cost, vs. less better in meeting their needs, perhaps at lower cost. If DH's company proposes a less better solution at a highe...
by fourwheelcycle
Thu Jul 26, 2018 7:26 am
Forum: Personal Finance (Not Investing)
Topic: An argument against self-insuring for long-term care
Replies: 214
Views: 11051

Re: An argument against self-insuring for long-term care

I don't think any insurance company sells a product that is not actuarily viable. If they do, as some of the early LTC insurers did, they risk the viability of their product or even of their entire insurance company. To be viable, an insurance product must cover the true actuarial cost of the risk (...
by fourwheelcycle
Tue Jul 24, 2018 8:18 pm
Forum: Personal Finance (Not Investing)
Topic: How Much Is Enough?
Replies: 34
Views: 6114

Re: How Much Is Enough?

Any economist can tell you the answer: More is better. However, only you can decide what you want more of. It sounds like you may be asking for the BH forum's permission to choose less stress, less commuting, and more time with your family. I have no doubt things will turn out fine for you and your ...
by fourwheelcycle
Tue Jul 24, 2018 8:26 am
Forum: Personal Consumer Issues
Topic: High voltage powerlines near house
Replies: 72
Views: 5394

Re: High voltage powelines near house

https://www.cancer.gov/about-cancer/causes-prevention/risk/radiation/electromagnetic-fields-fact-sheet See also http://www.who.int/peh-emf/project/mapnatreps/nznrl_emfbooklet2008.pdf?ua=1 The first article (US National Cancer Institute), cited by mouses, indicates children should not live near enou...
by fourwheelcycle
Sun Jul 22, 2018 9:36 pm
Forum: Personal Finance (Not Investing)
Topic: Giving money to adult kids
Replies: 23
Views: 3924

Re: Giving money to adult kids

You have not told us how much money you have saved, or who, besides your children, will inherit it when you die. You have also not told us who is designated as your power of attorney for finances and health care if either of you need this type of assistance before you die. If you have significant sa...
by fourwheelcycle
Sun Jul 22, 2018 6:44 am
Forum: Personal Finance (Not Investing)
Topic: Am I secure using my computer for financial services?
Replies: 28
Views: 4038

Re: Am I secure using my computer for financial services?

The things you are doing go a long way toward promoting your security. My greatest concern is that a company will be hacked, either by experts or because an employee or a miswritten computer code leaves a server open for an hour or more. If Vanguard or BoA loses my complex passwords the only things ...
by fourwheelcycle
Mon Jul 16, 2018 6:40 pm
Forum: Personal Consumer Issues
Topic: Have you ever purchased a pricy musical instrument?
Replies: 82
Views: 4585

Re: Have you ever purchased a pricy musical instrument?

When we began working and bought our first house, in 1977, my wife wanted to buy a Yamaha Conservatory Grand piano. The piano cost almost half of her annual income at that time. She agreed to help pay for it by giving piano lessons. I looked up the tax rules for personal businesses vs. hobbies and f...
by fourwheelcycle
Sun Jul 15, 2018 7:39 pm
Forum: Personal Consumer Issues
Topic: Bears!!!
Replies: 60
Views: 5469

Re: Bears!!!

Will your town allow this one: https://www.walmart.com/ip/Toter-Bear-Proof-Residential-Heavy-Duty-64-Gallon-Two-Wheeled-Trash-Can/123546722?wmlspartner=wlpa&selectedSellerId=1148&adid=22222222227054699909&wmlspartner=wmtlabs&wl0=&wl1=g&wl2=c&wl3=155643953241&wl4=pla-61592423422&wl5=9002419&wl6=&wl7=...
by fourwheelcycle
Fri Jul 13, 2018 6:34 pm
Forum: Personal Finance (Not Investing)
Topic: Living Revocable Trust - conveyance of assets
Replies: 37
Views: 2684

Re: Living Revocable Trust - conveyance of assets

We made an appointment at our local BoA branch and they changed our checking and savings accounts over to our new joint revocable trust in one twenty minute visit. All of our other taxable savings, except for a small online account at Marcus, are at Vanguard. Our Vanguard rep connected us with anoth...
by fourwheelcycle
Fri Jul 13, 2018 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Denied for an auto loan 2 weeks after purchase??
Replies: 39
Views: 5267

Re: Denied for an auto loan 2 weeks after purchase??

I recently ordered a new car that offered a $1,500 discount if I took out at least a $10K loan and did not do an early pay-off until after at least five monthly payments. My credit is locked due to past identity info hacks at our health insurance company and at Equifax. The dealer asked me to author...