Search found 473 matches

by pennywise
Thu Sep 20, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: TIAA financial advisor?
Replies: 65
Views: 9635

Re: TIAA financial advisor?

We were contacted a couple of years ago by a TIAA advisor and I went through their advising process then. Frankly, the bottom line I took away is that it was a fishing expedition to persuade us to use him as a financial advisor for the funds once we retired, at the usual 1% annual fee. Got another n...
by pennywise
Sun Sep 16, 2018 7:19 am
Forum: Personal Finance (Not Investing)
Topic: How did you decide when to retire?
Replies: 46
Views: 6179

Re: How did you decide when to retire?

I will receive a pension, and my company's policy is that there is a penalty which reduces the benefit amount by 20%, permanently, if a worker retires before age 62--regardless of when one begins collecting. So because I am a stubborn person who hates leaving money on the table, that is how I decide...
by pennywise
Sun Sep 16, 2018 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 111
Views: 8050

Re: Delaying Social Security Until 70

drawpoker wrote:
Sat Sep 15, 2018 4:39 pm

(I had been drawing a spousal benefit since age 60, 71.5% of my husband's benefit)
I didn't think one could claim a spousal benefit before age 62, other than as a widow/widower--can you explain how you started receiving spousal benefits at 60?
by pennywise
Sun Sep 16, 2018 6:59 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 111
Views: 8050

Re: Delaying Social Security Until 70

For married couples, the math can work differently. In our case, my PIA is about 4 times my spouse’s PIA. The optimal strategy is for my spouse to file as early as possible and me to delay to age 70. +1 We are a similar situation--though our PIAs are almost identical and I'm 4 years younger my husb...
by pennywise
Thu Sep 13, 2018 4:31 pm
Forum: Personal Consumer Issues
Topic: Going to the Everglade. A few questions please.
Replies: 21
Views: 1157

Re: Going to the Everglade. A few questions please.

From Naples, the Everglades National Park is a 3 hour drive. You have to go to the opposite side of the State and then turn south. No real need to take I-75 unless you want to get to Miami/Ft. Lauderdale fast. OP mentioned using roads as if one will be going to/from the Everglades during a visit, w...
by pennywise
Mon Sep 10, 2018 11:03 am
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 824
Views: 89514

Re: [What TV Show Have You Recently Watched?]

I just finished watching season 2 of Ozark. As others have said it compares generally in terms of structure/plotting to Breaking Bad, in that the theme is a family getting involved and going deeper into an illegal/immoral lifestyle. I found both seasons interesting and worthwhile however it is VERY ...
by pennywise
Fri Sep 07, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: How do you handle Healthcare costs in retirement
Replies: 31
Views: 2584

Re: How do you handle Healthcare costs in retirement

Today I wrote my first check for retiree insurance, wife just put it in the mailbox. After a few issues getting the company that administers retiree insurance to get us enrolled in retiree insurance, I was finally able to get everything squared away. Hopefully the billing will be handled better tha...
by pennywise
Fri Sep 07, 2018 6:28 am
Forum: Personal Finance (Not Investing)
Topic: Time to look at SS [When should I take Social Security?]
Replies: 55
Views: 4927

Re: Time to look at SS [When should I take Social Security?]

One fact should be kept in mind regarding the recommendation for the OP from Opensocialsecurity---that, having been born in 1953, he is eligible for a spousal benefit under a restricted application. The program recommmends that he should do that--might be different if he was born after 1953 when th...
by pennywise
Tue Sep 04, 2018 7:49 pm
Forum: Personal Consumer Issues
Topic: How to "waste" money on groceries?
Replies: 109
Views: 9454

Re: How to "waste" money on groceries?

winterfan wrote:
Tue Sep 04, 2018 10:49 am
Seafood for sure. Around here good fish goes for $15-25 a pound.
Or you can take your own boat and really ratchet up that cost. I figure the lobster I had for dinner this weekend set us back ~$160/pound :D
by pennywise
Sat Sep 01, 2018 6:56 am
Forum: Investing - Help with Personal Investments
Topic: Starting at 62
Replies: 4
Views: 989

Re: Starting at 62

The gift limit for 2018 is $15,000 - meaning you can give that much without (you) having to pay a gift tax. If you’re married, your spouse can also give $15,000 to your mother without incurring additional taxes. This is correct. $15000 is the reporting limit. However, you can give much more than th...
by pennywise
Thu Aug 30, 2018 6:12 am
Forum: Personal Finance (Not Investing)
Topic: Dealing with death and the family finances
Replies: 21
Views: 2977

Re: Dealing with death and the family finances

Moneybags1, So sorry for the loss of your Dad, been through it myself, very painful. As to your situation, are you and your brother on the same page as how to proceed with helping your Mom? If so that's a huge plus. My concern is as long as you and your brother can agree on what's best for your Mom...
by pennywise
Sun Aug 26, 2018 10:29 am
Forum: Investing - Help with Personal Investments
Topic: $3.5M cash pile at age 63 – what would you do right now (and what wouldn't you do)?
Replies: 34
Views: 5687

Re: $3.5M cash pile at age 63 – what would you do right now (and what wouldn't you do)?

I think you are getting snarky replies because you have won the game. You have prepared well and have a super low stress (financially) road ahead. :sharebeer +1 My immediate mental answer upon reading a question phrased as 'what would you do?' by someone who has amassed between $3.5-$6 million doll...
by pennywise
Sun Aug 26, 2018 9:08 am
Forum: Personal Finance (Not Investing)
Topic: How do you calculate net worth with pensions?
Replies: 105
Views: 6634

Re: How do you calculate net worth with pensions?

You are 100% dead wrong. A pension is a source of income, it is NOT an asset, you have no legal ownership of it, you cannot pass it to your heirs upon death. Let me use an analogy to explain how ridiculous it is to believe a pension is an asset. The hospital pays me an income of $65,000 a year at m...
by pennywise
Wed Aug 22, 2018 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: "By not having a will, Aretha Franklin likely left her heirs with lots of headaches"
Replies: 31
Views: 2524

Re: "By not having a will, Aretha Franklin likely left her heirs with lots of headaches"

Was it laziness? She just didn't care? Every adult should have a will. I see no upside to avoiding it. It seems as if not having a will must have been a deliberate choice, at least. She had been widely known to be in poor health for quite awhile so a terminal diagnosis surely was conveyed to her at...
by pennywise
Tue Aug 21, 2018 1:45 pm
Forum: Personal Consumer Issues
Topic: Landlord Nightmare
Replies: 90
Views: 9496

Re: Landlord Nightmare

You cannot change the application process. If you normally do not do a "tenant screen/application" you can't just do one on a person randomly. Treat everyone the same. You can't have a separate policies/qualifications for different groups of people. That is discrimination. I’m assuming you can chan...
by pennywise
Sun Aug 19, 2018 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: Elderly Relative Short on Money
Replies: 98
Views: 8769

Re: Elderly Relative Short on Money

I am actually very surprised at the number of responses that suggested she take some minimum wage job at McDonalds or a supermarket -- even though she can be a very good babysitter for the OP's family, and apparently does have some small decorating side gig. News flash: not everyone is cut out for ...
by pennywise
Sun Aug 19, 2018 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Teachers Who Have Net Worth of $1 million +
Replies: 105
Views: 13600

Re: Teachers Who Have Net Worth of $1 million +

I agree with you. I made no judgement nor said it was in any way the problem of the public employees that these pension plans are unsustainable. But it is what it is, public employee pensions are a huge boon on the finances of countless municipalities today and there isn't much that can be done to ...
by pennywise
Fri Aug 17, 2018 2:35 pm
Forum: Investing - Theory, News & General
Topic: Is President Jimmy Carter a Boglehead?
Replies: 22
Views: 1863

Re: Is President Jimmy Carter a Boglehead?

I thought politics was a no, no in this forum?? I don't think the story is about politics. It's about how one former politician lives frugally. There have been hundreds of similar threads devoted to Warren Buffett, who lives a similar lifestyle (at least sometimes). Yes. I don't think frugality is ...
by pennywise
Mon Aug 13, 2018 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: How to have “what if” discussion with retired parents?
Replies: 48
Views: 4634

Re: How to have “what if” discussion with retired parents?

The parents posting to this thread -- you have to realize that most of the children who post to this thread are not dealing with parents who are financially knowledgeable, let alone spending their afternoons on bogleheads. I If your parents were truly financial wizards, it would be a different stor...
by pennywise
Mon Aug 13, 2018 8:22 am
Forum: Personal Finance (Not Investing)
Topic: How to have “what if” discussion with retired parents?
Replies: 48
Views: 4634

Re: How to have “what if” discussion with retired parents?

I agree that clear documentation of where the money is and how surviving spouse can access it if need be should be available to spouse. On the other hand, the kids have no such presumptive right to a roadmap of assets, account numbers, passwords etc. All these threads and articles one sees popping ...
by pennywise
Mon Aug 06, 2018 8:34 am
Forum: Personal Finance (Not Investing)
Topic: What prevents residential real estate buyers from colluding to bring down prices?
Replies: 32
Views: 2667

Re: What prevents residential real estate buyers from colluding to bring down prices?

The problem is the incentive to break the pact is too great. The first who skips out will get the house. If you can come up with a way to enforce and punish that behavior, you can become the slum lord or a real-estate mogul depending on the zip code. Bingo. Also houses are not commodities in the se...
by pennywise
Tue Jul 31, 2018 7:55 pm
Forum: Personal Finance (Not Investing)
Topic: How to prepare for "the talk"
Replies: 64
Views: 5171

Re: How to prepare for "the talk"

Six years later and they are debt free and have about $1MM net worth. Not great, but way better off than they otherwise would have been. My dad will probably be able to retire in the next 2-3 years and have a modest retirement. Only on this forum will I ever read someone make the seemingly sincere ...
by pennywise
Sun Jul 22, 2018 6:15 pm
Forum: Personal Consumer Issues
Topic: When to buy airline tickets for Christmas flight?
Replies: 12
Views: 1443

Re: When to buy airline tickets for Christmas flight?

I think pricing varies also depending on what day of the week Christmas happens to fall. This year it's Tuesday, and a lot of schools are in session till the Friday prior. So if you are traveling to a popular destination (warm weather or large hub), you might want to start checking now and plan on b...
by pennywise
Thu Jul 19, 2018 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: What is the most severe hyperbolic discounting you have ever acted on?
Replies: 30
Views: 2478

Re: What is the most severe hyperbolic discounting you have ever acted on?

I am currently suffering from hyperbolic discounting syndrome....I am a mere 6 months from retirement and it takes everything I have to not pull the trigger and retire immediately. Now, if I did that, my pension would be reduced so that is what keeps me from going now (although to be honest the pen...
by pennywise
Thu Jul 12, 2018 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Preparing non-technocrat spouse $ Mgmt
Replies: 25
Views: 2378

Re: Preparing non-technocrat spouse $ Mgmt

These seem to be periodic discussions, and I have expressed this thought before but once again: for those who seem to believe their loved ones are simply incapable of understanding or dealing with personal finances: be of good cheer. After the funeral, your ditsy non-technocrat wife (more rarely hus...
by pennywise
Thu Jul 12, 2018 7:06 am
Forum: Personal Finance (Not Investing)
Topic: Deciding how much to spend on home remodeling
Replies: 22
Views: 1985

!

Remodeling is hugely stressful, messy, complicated, disruptive and did I say stressful? For that reason if you have the means, I advise doing everything you want/can afford to do as one major project rather than tackling something now, something in a few years etc. Agree with others' advice to try n...
by pennywise
Tue Jul 10, 2018 1:40 pm
Forum: Personal Consumer Issues
Topic: What time do you get up in the morning?
Replies: 138
Views: 9707

Re: What time do you get up in the morning?

bigdav160 wrote:
Sat Jul 07, 2018 5:09 pm
I am lucky when I get 6 hours of sleep.

My spouse is a drinker and a TV watcher and has never worked. When she collapses into bed at 3:30am that usually wakes me up.
:shock:
by pennywise
Tue Jul 10, 2018 1:37 pm
Forum: Personal Consumer Issues
Topic: Masterbath Remodel - Tub or No Tub ?
Replies: 57
Views: 3549

Re: Masterbath Remodel - Tub or No Tub ?

+ almost every one else: get rid of the tub in the MB bath unless you personally prefer tub baths. When we remodeled our master bath I removed the tub and was able to get at least a little more capacious walk in shower; the entire bathroom is only 5x7 (ah the joys of living in a vintage 1950 ranch)....
by pennywise
Mon Jul 09, 2018 1:50 pm
Forum: Investing - Theory, News & General
Topic: SS taken at 62 vs. 70, but measured from 70+
Replies: 189
Views: 11907

Re: SS taken at 62 vs. 70, but measured from 70+

Women have longer life expectancy. So, for the sake of the surviving spouse (who is more likely to be the wife), the one with the higher benefit should delay as long as possible. I believe it is also the case, that in the majority of Soc Sec age couples, the higher benefit belongs to the husband. S...
by pennywise
Thu Jul 05, 2018 10:47 am
Forum: Local Chapters and Bogleheads Community
Topic: Roll Call for the Retirement Class of 2018!
Replies: 284
Views: 39766

Re: Roll Call for the Retirement Class of 2018!

I'm adding my husband to the roll--Mr Pennywise is retiring December 31st. He turns 65 in September, has 40 years of tenure at his job and is blessed to have a set of non-work activities that will happily engage and challenge him as soon as he steps out of the office for the last time. Unfortunately...
by pennywise
Fri Jun 29, 2018 4:52 pm
Forum: Personal Finance (Not Investing)
Topic: Does It Make Sense to Wait to Claim SocSec?
Replies: 62
Views: 7066

Re: Does It Make Sense to Wait to Claim SocSec?

Actuarially it doesn’t make a huge difference, though waiting favors women who tend to live longer than men. But you say your wife is retiring due to health issues. If those health issues are likely to limit her life span, waiting may not be a good idea. For a married couple, disregarding a wife's ...
by pennywise
Thu Jun 28, 2018 8:33 pm
Forum: Personal Finance (Not Investing)
Topic: Another Social Security Strategy Question
Replies: 11
Views: 1233

Re: Another Social Security Strategy Question

As he is 64 now, I assume his birthday is prior to 01/01/54, in which case he is still eligible to file a restricted application. So his benefit should be half of the spousal pia. If it is showing half of his, you might bring it to Mike Pipers attention as a bug at the thread on the calculator: htt...
by pennywise
Thu Jun 28, 2018 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Another Social Security Strategy Question
Replies: 11
Views: 1233

Another Social Security Strategy Question

Social security claiming strategies sure get hard to figure out! My husband and I are four years apart in age with me the younger; our birthdays are a week apart. Today we are 60/64 and birthdays are in August/September. Our PIA monthly benefits are almost identical. Using the wonderful https://open...
by pennywise
Tue Jun 26, 2018 3:51 pm
Forum: Personal Consumer Issues
Topic: Family dynamics/in laws/am I being petty?
Replies: 143
Views: 7593

Re: Family dynamics/in laws/am I being petty?

. . . because the norm seems to be to split the check evenly . . I wonder if this is regional and/or generational? In my experience, if I'm out with a group of friends or co-workers wherein we're going to split the check, we each pay for our own meal and drink(s)--separate tickets for each person o...
by pennywise
Tue Jun 26, 2018 3:38 pm
Forum: Personal Consumer Issues
Topic: Family dynamics/in laws/am I being petty?
Replies: 143
Views: 7593

Re: Family dynamics/in laws/am I being petty?

It is a badge of honor to be generous to your friends and families. KlangFool We have adult offspring; our son is married and our daughter is single (no grandchildren yet). All are gainfully employed and not financially dependent on us at all. My husband and I always pay for everyone's dinner when ...
by pennywise
Mon Jun 25, 2018 7:08 pm
Forum: Personal Consumer Issues
Topic: Used vs New - always buy new once you get to a certain point?
Replies: 31
Views: 3105

Re: Used vs New - always buy new once you get to a certain point?

Although we are very frugal and save a very high % of income, we have rarely purchased used products. For cars, we intend to keep them for a minimum of 10-12 years and avoid luxury brands, so the savings we'd get from buying used is relatively small. I'm also obsessed with reliability, so buying a ...
by pennywise
Tue Jun 19, 2018 1:57 pm
Forum: Investing - Help with Personal Investments
Topic: Value of a Military Retirement
Replies: 30
Views: 3726

Re: Value of a Military Retirement

I'm not familiar with Tricare Prime (which seems to be an HMO version of Tricare) but my father, a veteran, has Tricare for life and it's a pretty incredible and unbeatable guaranteed health care plan. Basically anything Medicare doesn't cover, Tricare does on a pre-authorized basis. If you have the...
by pennywise
Mon Jun 18, 2018 6:35 am
Forum: Personal Finance (Not Investing)
Topic: Benefits of using CPA for taxes
Replies: 31
Views: 4187

Re: Benefits of using CPA for taxes

But what you really need is to be able to understand the tax consequences while you are weighing the decisions and making the decisions. Whether to buy or lease a car, whether to buy a rental property, whether to sell a rental property, even buying and selling equities, contributing to HSA, choosin...
by pennywise
Wed Jun 13, 2018 5:18 pm
Forum: Investing - Theory, News & General
Topic: Recommendations for specific "Boglehead-like" podcast episodes (for elderly mother)
Replies: 19
Views: 1632

Re: Recommendations for specific "Boglehead" podcast episodes (for elderly mother)

Maybe an episode of Stacking Benjamins? I don't particularly like the first few minutes when the host jokes and rambles, but that's usually followed by a pretty interesting discussion, guest expert or panel of authorities talking about finance related topics.
by pennywise
Wed Jun 13, 2018 6:15 am
Forum: Personal Finance (Not Investing)
Topic: House that was in trust is actually in estate
Replies: 22
Views: 2379

Re: House that was in trust is actually in estate

Unlike some states, probating a Will in Florida (which you apparently did anyway) is not particularly difficult, expensive or burdensome. Why did your mother create a trust for herself? I live in Florida and have been through the probate process as the beneficiary of a will in which a friend left u...
by pennywise
Mon Jun 11, 2018 8:15 pm
Forum: Personal Consumer Issues
Topic: Life in retirement - what did you do today?
Replies: 194
Views: 18367

Re: Life in retirement - what did you do today?

For me what makes this topic actionable is its value in sharing individual life experiences that are direct results of adherence to the financial management precepts on which this forum was founded. To actually get some 'baseline' feedback is immensely reassuring to me. It validates my suspicion tha...
by pennywise
Mon Jun 11, 2018 4:44 pm
Forum: Personal Consumer Issues
Topic: Life in retirement - what did you do today?
Replies: 194
Views: 18367

Re: Life in retirement - what did you do today?

What quiet unstructured unexciting lives.

I can't wait to live mine once I retire! :D
by pennywise
Mon Jun 11, 2018 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Balancing the Burden and the Benefit of Wealth
Replies: 11
Views: 1628

Balancing the Burden and the Benefit of Wealth

It's a frequent topic of conversation on this forum-what, how and why people aspire to be financially independent AKA wealthy, or a close approximation thereof. NYT shares the findings of a recent study on the topic which boils down to money=independence for a lot of people: For some younger million...
by pennywise
Sun Jun 10, 2018 7:24 am
Forum: Personal Finance (Not Investing)
Topic: Help requested for my FIRE framework...What am I forgetting?
Replies: 13
Views: 1498

Re: Help requested for my FIRE framework...What am I forgetting?

Is it possible for your wife to return to paid employment? In a situation in which someone is living a life that is making them physically ill, and in which one partner is working at a level that precludes family time while the other is not employed at all, perhaps that is a change that can and shou...
by pennywise
Fri Jun 08, 2018 11:02 am
Forum: Personal Finance (Not Investing)
Topic: Buying a house in Florida but you are hundreds of miles away
Replies: 33
Views: 2899

Re: Buying a house in Florida but you are hundreds of miles away

I concur with the several responses about spending some non-committed (ie home purchase completed) time in Florida first. It tends to be somewhat of a polarizing place; people either really like living here or they really hate living here. While some areas elicit more of that dichotomy than others-m...
by pennywise
Mon Jun 04, 2018 11:30 am
Forum: Personal Finance (Not Investing)
Topic: is Having more and needing less normal?
Replies: 113
Views: 9167

Re: is Having more and needing less normal?

{Re hiring professional help for training/exercise} Hey if your friends are constantly getting stronger, not getting injured and so on, then what they are doing works for them. I have found the people that do that tend to have had a really solid base (i.e. they had a trainer for 5+ years or trainin...
by pennywise
Thu May 31, 2018 4:08 pm
Forum: Personal Consumer Issues
Topic: Advice for assisting 18 year old son after high school
Replies: 70
Views: 5780

Re: Advice for assisting 18 year old son after high school

I have to say, I do NOT like the plan. I cannot believe that his uncle, with three little boys (i.e., impressionable by their older cousin who they probably think is "cool") will allow such an irresponsible teen to live with him. I would never let my kids live under the same roof as irresponsible a...
by pennywise
Thu May 31, 2018 10:51 am
Forum: Personal Consumer Issues
Topic: Thoughts on Buying a "Flipped" House?
Replies: 27
Views: 3347

Re: Thoughts on Buying a "Flipped" House?

When we were shopping for a vacation home in the Florida Keys we actually made an offer on a flipped house; as the son of a contractor my husband knows enough about construction quality, including household electrical wiring and plumbing, that he judged the work well done. However when our realtor c...
by pennywise
Wed May 30, 2018 3:53 pm
Forum: Personal Consumer Issues
Topic: Recommend new TV for 93 year old lady
Replies: 28
Views: 2125

Re: Recommend new TV for 93 year old lady

You should easily be able to buy an LG or Samsung 40" smart TV for that price. LG and Samsung are the leaders in TV technology. Make sure she's got the correct HDMI cable set up. You can buy a $6 HMDI cable on Amazon for her. These should already have Netflix/Hulu/Amazon Prime Video on them, so if ...
by pennywise
Sun May 27, 2018 10:33 am
Forum: Local Chapters and Bogleheads Community
Topic: South Florida Local Chapter
Replies: 332
Views: 63796

Re: South Florida Local Chapter

Wouldn't miss it! I will be there, looking forward to another great Bogleheads SoFla gathering.