Search found 526 matches

by Ybsybs
Wed Oct 30, 2019 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: Gift vs Joint Ownership?
Replies: 5
Views: 317

Re: Gift vs Joint Ownership?

Ideally you've raised a person ready to be an independent adult and who has the skills to choose a life partner appropriately. If you don't and you know it, something more elaborate than shared ownership of the house might be best. For instances if you think your child might be sued and lose the hou...
by Ybsybs
Tue Oct 29, 2019 11:54 am
Forum: Personal Consumer Issues
Topic: Anyone have an issue with Corelle plates?
Replies: 38
Views: 3601

Re: Anyone have an issue with Corelle plates?

I inherited my Corelle plates. Apparently I'm hard on them. A couple break every move and we break about one dish every other month with the kids. The shattering is excessive.

I'm window shopping for a replacement. The number of place settings left is not yet quite below four.
by Ybsybs
Mon Oct 28, 2019 10:32 am
Forum: Personal Consumer Issues
Topic: How much do you plan to spend on your children's weddings?
Replies: 182
Views: 8837

Re: How much do you plan to spend on your children's weddings?

I'd like to offer an inflation adjusted amount similar to what my parents paid for my wedding. I don't have a separate savings fund for wedding stuff. My kids are 0 and 2 years old. If my kids were near the age of the OP's kids and not engaged, I think I'd much rather have the money in CDs or a bond...
by Ybsybs
Mon Oct 21, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: Fed Workers Prep for Budget Delays
Replies: 18
Views: 2183

Re: Fed Workers Prep for Budget Delays

Thanks for the feedback.

It sounds like I'm not missing anything obvious. Thanks again.
by Ybsybs
Fri Oct 18, 2019 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Fed Workers Prep for Budget Delays
Replies: 18
Views: 2183

Fed Workers Prep for Budget Delays

About a year ago Congress and the President had an extended budget fight that resulted in quite a few federal workers not getting paychecks on time. Right now there's a continuing resolution through November 21. It could be that there will be more CRs approved and then a full budget passed without a...
by Ybsybs
Wed Oct 16, 2019 2:16 pm
Forum: Personal Finance (Not Investing)
Topic: Prenuptial agreement for moderately successful 30 year olds
Replies: 68
Views: 5019

Re: Prenuptial agreement for moderately successful 30 year olds

I suggest you talk about what seems fair and then each get lawyers to put it in legalese. Perhaps: -Each keeps amounts they had before entering the marriage. -Each keeps any inheritances or gifts from the respective sides of the family. -Each retains ownerships of gifts given to them by the other. (...
by Ybsybs
Wed Oct 16, 2019 1:43 pm
Forum: Personal Consumer Issues
Topic: Home upgrade question
Replies: 19
Views: 1902

Re: Home upgrade question

Good points, this has been very helpful. As for DIY, I've already done many things to the basement DIY - replaced insulation, new sheetrock and ceiling, and a very crude 1/2 bath which would not be appropriate for dad. The reason for the contractor would be to make it "legal" - adding a 2nd exit, p...
by Ybsybs
Wed Oct 16, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for college savings
Replies: 20
Views: 1764

Re: Suggestions for college savings

I'd use the 529, if your retirement is in good shape, just make sure to save some space for the college opportunity fund (tax credit). https://www.irs.gov/newsroom/american-opportunity-tax-credit-questions-and-answers Maybe Livesoft will chime in on this. Thank you for mentioning this and sharing t...
by Ybsybs
Tue Oct 15, 2019 10:21 am
Forum: Personal Investments
Topic: 529 funding strategy/ inlaw debt management
Replies: 16
Views: 848

Re: 529 funding strategy/ inlaw debt management

Protect yourself from other people's debts by refusing to be a co-signer and keeping from being added to accounts. We support my inlaws because they failed to keep their financial house in order. I understand wanting to save them. But for the good of your relationship, I suggest you not pay off thei...
by Ybsybs
Tue Oct 15, 2019 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for college savings
Replies: 20
Views: 1764

Re: Suggestions for college savings

The one caveat I have for 529 savings is that if you have Roth IRA space unused, I suggest you max that out with your earmarked college savings money before putting it in a 529.
by Ybsybs
Tue Oct 15, 2019 10:11 am
Forum: Personal Finance (Not Investing)
Topic: Suggestions for college savings
Replies: 20
Views: 1764

Re: Suggestions for college savings

I also intend to save with the goal of funding an undergraduate education for each of my children. I'm a fan of the Vanguard Age-Based funds from my 529 contributions. The frequent desire to maximize student financial aid by NOT saving is misguided since aid is likely to be loans not grants. This is...
by Ybsybs
Sun Oct 13, 2019 4:06 pm
Forum: Personal Consumer Issues
Topic: How much do you spend on clothing?
Replies: 38
Views: 2631

Re: How much do you spend on clothing?

This depends a ton on what industry you are in and your specific position. Our clothing budgets aren't likely to be very helpful for you. But since you mention kids... What ages? Are you open to second hand clothing for them? Once Upon A Child franchises may have good deals especially for clothes fo...
by Ybsybs
Sun Oct 13, 2019 3:59 pm
Forum: Personal Investments
Topic: Struggling to understand emergency fund math
Replies: 26
Views: 2368

Re: Struggling to understand emergency fund math

I like having enough in laddered CDs to cover twelve months of current living expenses with one of two jobs lost. In the case where one of us were unexpectedly without pay, we most likely would be cutting back in most areas so the extra money would probably last more than twelve months. We would als...
by Ybsybs
Mon Oct 07, 2019 1:34 pm
Forum: Personal Finance (Not Investing)
Topic: FERS Annuity: after tax paycheck deduction
Replies: 8
Views: 717

Re: FERS Annuity: after tax paycheck deduction

That's an interesting idea. Does reducing your payments in reduce your ultimate payments out though?
by Ybsybs
Fri Oct 04, 2019 11:17 am
Forum: Personal Finance (Not Investing)
Topic: [When my children marry, should they sign a pre-nuptial agreement?]
Replies: 95
Views: 7995

Re: Daddy I'm engaged! Pre-nup?

I'm imagining myself as one of the young adults in this situation. I think being told that there maybe a large inheritance coming is not particularly helpful. Ideally, the OP and spouse will live a long time such that any inheritance happens when the young adult is in his/her fifties or sixties. The...
by Ybsybs
Thu Oct 03, 2019 11:10 am
Forum: Personal Finance (Not Investing)
Topic: Wedding Finances-Today
Replies: 107
Views: 8446

Re: Wedding Finances-Today

This. We had a lavish wedding and greatly enjoyed ourselves. Over a decade later, family and friends still mention what a wonderful time they had. My only money regret is not buying going with a photographer who would sell us electronic files of our wedding photos. We got a beautiful album and, in t...
by Ybsybs
Thu Oct 03, 2019 9:40 am
Forum: Personal Finance (Not Investing)
Topic: Wedding Finances-Today
Replies: 107
Views: 8446

Re: Wedding Finances-Today

Based on my brother's wedding two years ago, heavy appetizers were MORE expensive than a regular buffet line. The caterers explained that making 50 individual bacon-wrapped scallops (or whatever) was much more time intensive for the chef than making seared scallop linguine for 50.
by Ybsybs
Thu Sep 26, 2019 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 20290

Re: financially clueless senior MIL who thinks she’s rich

Let's say her expenses are $5k a month ($4k community + $1 other stuff). If she ends up with $390k (that $200k of savings mentioned and $190k from the house), it's roughly $3k draw down per month after social security of $2k. That means she's got around ten and a half years of expenses. If she runs ...
by Ybsybs
Fri Sep 13, 2019 1:37 pm
Forum: Personal Consumer Issues
Topic: Need gift ideas for my parents
Replies: 18
Views: 1350

Re: Need gift ideas for my parents

My parents have pretty much everything they would want, which is why it’s tough to think of good gifts for them. Ideally, I want this gift to be on the pricier side ($1,000+ per person). I also know they do not want experiences (i.e. spa, vacation). Can you help me think of some good gifts? What ha...
by Ybsybs
Fri Sep 13, 2019 1:33 pm
Forum: Personal Consumer Issues
Topic: Need gift ideas for my parents
Replies: 18
Views: 1350

Re: Need gift ideas for my parents

Jewelry if you can find a designer who could reliably make something in a style that'd be appreciated. A service gift like house cleaning or snow removal or yard mowing for a season, if those wouldn't come across as an insult to the current maintenance of the home. A top of the line television. Cert...
by Ybsybs
Fri Sep 13, 2019 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: Managing joint finances when one is a perfectionist
Replies: 122
Views: 8266

Re: Managing joint finances when one is a perfectionist

The term 'finance mom' sounds really bad. But you can have a good relationship where one person in the couple does the financial planning and both are happy with it. (This describes my marriage of fourteen years and counting.) We both agree to a budget and I keep him informed generally. We have a mo...
by Ybsybs
Wed Sep 11, 2019 1:46 pm
Forum: Personal Consumer Issues
Topic: Long term storage of clothes
Replies: 21
Views: 1600

Re: Long term storage of clothes

Off season clothes can be fine in the back of a closet or in a box in the basement. Wedding dress storage has a small industry around it. Many drycleaners will give it a cleaning and return it to you in a box that ought to help it last twenty or forty years until the next generation can politely dec...
by Ybsybs
Wed Sep 11, 2019 10:17 am
Forum: Personal Investments
Topic: How to handle 529 with full scholarship
Replies: 13
Views: 1469

Re: How to handle 529 with full scholarship

As a service academy graduate myself, I encourage you to consider leaving the money in the 529 for now. You and he certainly hope USMA is a great place for him and that he does extremely well there. However, some do find that attending a service academy is not a good fit. Others thrive there but lea...
by Ybsybs
Fri Aug 30, 2019 10:41 am
Forum: Personal Consumer Issues
Topic: Baby Gift Suggestions
Replies: 14
Views: 768

Re: Baby Gift Suggestions

If you are looking to spend a bit more, there's a good chance they'll need a new carseat either for the newest one because the seats expire or for the oldest as everyone moves up.
by Ybsybs
Fri Aug 30, 2019 10:35 am
Forum: Personal Consumer Issues
Topic: Baby Gift Suggestions
Replies: 14
Views: 768

Re: Baby Gift Suggestions

I greatly appreciated things for the new kid that were loved and consumed by the older sibling: Pacifiers (especially the kind with a stuffed animal attached which allowed the baby to hold it himself sooner) Diapers Wipes Board books (Some kids really like to sink their teeth into a good book.) Teet...
by Ybsybs
Thu Jun 27, 2019 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Aging Parents & Finances
Replies: 49
Views: 6132

Re: Aging Parents & Finances

They are worried that if my Mom goes into a nursing home, it's going to eat up all of their assets. It's a shady situation and I'm trying to be the voice of reason for everyone. In general— at the point where one spouse goes onto Medicaid, hopefully after paying the bill privately for a while to ex...
by Ybsybs
Wed Jun 12, 2019 2:24 pm
Forum: Personal Finance (Not Investing)
Topic: Share financial info with family?
Replies: 26
Views: 3089

Re: Share financial info with family?

I chose to print a letter that I have in a binder with our current wills and our trust document. I've told the person we've selected as guardian for our children that this letter exists, where to find it, and what to expect in it. The letter is legally non-binding (I made sure of this with the lawye...
by Ybsybs
Sat Jun 08, 2019 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: Should I buy a home in a resort community?
Replies: 24
Views: 4167

Re: Should I buy a home in a resort community?

You may want to try renting in the off season too. Some places seem to roll up the sidewalks and you may or may not like that.
by Ybsybs
Fri Jun 07, 2019 9:53 am
Forum: Personal Consumer Issues
Topic: Are we downsizing too much?
Replies: 63
Views: 5069

Re: Are we downsizing too much?

It’s all relative. My goal in life is to live in a 120 sq ft “tiny house”, and I’ve lived in my car before. So my current 1800 sq ft is overkill — I use less than half of it. But my folks are looking to move into their retirement home, and insist on something bigger than the 2400 sq ft they've live...
by Ybsybs
Thu Jun 06, 2019 2:20 pm
Forum: Personal Finance (Not Investing)
Topic: W4 changes after getting married and having a baby
Replies: 10
Views: 643

Re: W4 changes after getting married and having a baby

Hi- I got married in December 2018 and we filed jointly for 2018. We had a baby in January 2019. I'm confused about if I should change my W4 withholding. I'm confused because I always heard that once you have a baby you get a favorable tax credit, hence everyone around me willing Baby to arrive on ...
by Ybsybs
Wed Jun 05, 2019 5:28 pm
Forum: Personal Consumer Issues
Topic: Resort vacation w/ 6 month old...?
Replies: 30
Views: 1869

Re: Resort vacation w/ 6 month old...?

For the plan of pool time, you may want to make sure the kid will be a full six months old. Sunscreen is typically not okay for under six months old and babies can sunburn very easily.
by Ybsybs
Mon Jun 03, 2019 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: Confirm my Understanding of Estimated Taxes
Replies: 15
Views: 1498

Re: Confirm my Understanding of Estimated Taxes

I go for withholding 100% of what was owed last year. You can know for sure what was owed last year. This year's income and resulting taxes can surprise you.
by Ybsybs
Thu May 09, 2019 9:17 am
Forum: Personal Finance (Not Investing)
Topic: Why is Social Security pushing retroactive benefits?
Replies: 32
Views: 3996

Re: Why is Social Security pushing retroactive benefits?

Social security is actuarially neutral, in theory anyway. Shouldn’t really matter to them if you take it at 69.5 or 70. While at one point the taking of benefits at 62 vs 70 was at least arguably actuarially neutral, it's not now because life expectancies have increased without the benefit payouts ...
by Ybsybs
Wed May 08, 2019 9:13 pm
Forum: Personal Consumer Issues
Topic: life insurance
Replies: 15
Views: 1174

Re: life insurance

If the money is intended for funeral expenses, those can also be prepaid. It can be a lot easier to avoid the upsells if it's you choosing your own instead of choosing for a beloved spouse you just lost.
by Ybsybs
Wed May 08, 2019 11:53 am
Forum: Personal Finance (Not Investing)
Topic: House selling - modern norms
Replies: 36
Views: 5637

Re: House selling - modern norms

Some things help a place sell faster instead of helping it sell for a higher price. Depending on your situation, a faster sale might be the equivalent of more money in your pocket or it really might not matter at all.
by Ybsybs
Wed May 08, 2019 6:56 am
Forum: Personal Finance (Not Investing)
Topic: College Expenses
Replies: 232
Views: 13861

Re: College Expenses

For those who are looking for a number to use as a goal when figuring out how much to attempt to allocate for kid college, I suggest using the FAFSA4Caster tool. You can plug in a bunch of different asset and income numbers to get a range of what your EFC might be in however many years it is until t...
by Ybsybs
Fri May 03, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: Spending Models in Retirement
Replies: 9
Views: 1271

Re: Spending Models in Retirement

For myself and my spouse, I hope to not draw upon government services intended for the needy and so we are saving with the expectation of self-paying for our end of life care. Does that also include self paying for full healthcare, not taking medicare? Never heard anyone expect to do that. I'm deli...
by Ybsybs
Fri May 03, 2019 9:07 am
Forum: Personal Finance (Not Investing)
Topic: Spending Models in Retirement
Replies: 9
Views: 1271

Re: Spending Models in Retirement

No direct personal experience. I've read retirement spending is typically u-shapped with the so called "go-go years" and end of life "no-go years" exceeding the middle "slow-go years." My service as money manager for my in-laws indicates their expenses align with that u-shape and in total cost we ar...
by Ybsybs
Fri May 03, 2019 8:11 am
Forum: Personal Consumer Issues
Topic: Anyone ever used a water damage restoration company to help file insurance claim?
Replies: 22
Views: 1365

Re: Anyone ever used a water damage restoration company to help file insurance claim?

My past experience with basement flooding, insurance and service pro was not one I want to go through again. Insurance limited claim to $5000. Service pro was recommended by insurance but could not start for a few days. They ended spending the whole amount and I had to throw out the carpet after th...
by Ybsybs
Fri May 03, 2019 8:05 am
Forum: Personal Investments
Topic: others say I can follow this plan. what do you think?
Replies: 30
Views: 3592

Re: others say I can follow this plan. what do you think?

It seems to work for expenses as a couple. The unaddressed side I see is what the survivor spouse is left with. I suggest checking your numbers for His solo and for Hers solo. The numbers I've seen indicate a widow/widower will experience the same standard of living as a married couple if she/he sti...
by Ybsybs
Fri May 03, 2019 7:52 am
Forum: Personal Investments
Topic: Riskfree 3.00% Yield?!
Replies: 33
Views: 6483

Re: Riskfree 3.00% Yield?!

Navy Federal Credit Union had a six month 3.00% APY certificate for a little while in Feb-Mar. It happened to line up well with the point when my house sold and the time before my rental lease is up, so I jumped on it. IMO, an FDIC-insured CD is a risk free 3.00% yield, but those are rare these days...
by Ybsybs
Thu May 02, 2019 6:08 pm
Forum: Personal Finance (Not Investing)
Topic: Thinking of home buying with all cash - need guidance
Replies: 19
Views: 2318

Re: Thinking of home buying with all cash - need guidance

I don't think paying for a mortgage you don't need is necessary. I do think getting home insurance and flood insurance (if you are shopping in an area zoned for that) is important. You could, as a buyer without a mortgage, choose not to insure your property, but unless your assets are very, very sig...
by Ybsybs
Thu May 02, 2019 2:00 pm
Forum: Personal Consumer Issues
Topic: Anyone ever used a water damage restoration company to help file insurance claim?
Replies: 22
Views: 1365

Re: Anyone ever used a water damage restoration company to help file insurance claim?

I've used Sevrpro to assist with flood insurance. I filed the claim, but when the adjuster lowballed rates for some of the things and the owner of the local Servpro franchise offered to assist in arguing for a higher replacement rate, I happily accepted. The result was I got approved for the higher ...
by Ybsybs
Thu May 02, 2019 1:51 pm
Forum: Personal Consumer Issues
Topic: Questions for Folks that Does Not Need Their 401k/IRA Funds in Retirement
Replies: 67
Views: 5588

Re: Questions for Folks that Does Not Need Their 401k/IRA Funds in Retirement

It isn’t uncommon for an elder to be living in a long-time home and consider themselves independent, but: 1. A son is driving them to doctor’s appointment. 2. A daughter is bringing over dinner 3 nights a week. 3. A neighbor is cutting their lawn and shoveling snow. Which the kids/neighbor may or m...
by Ybsybs
Wed May 01, 2019 9:53 pm
Forum: Personal Investments
Topic: Say you have a pension & lot of cash. With those in mind, does it make sense to have a more aggressive allocation?
Replies: 62
Views: 4855

Re: Say you have a pension & lot of cash. With those in mind, does it make sense to have a more aggressive allocation?

Eh. Maybe. I did the 100% stock thing for about a decade. It happened to work out well for me, but it was mere luck. My reason at the time was that I understood index funds and didn't understand bonds or bond funds. You might consider adding a 10% bond or at least 5% bond position to make it possibl...
by Ybsybs
Thu Apr 25, 2019 4:12 pm
Forum: Personal Consumer Issues
Topic: How much House should I Buy?
Replies: 51
Views: 5015

Re: How much House should I Buy?

I'm making a similar choice and look forward to seeing what other posters have to say on the subject. OP - Is private school a consideration? You mention a difference in school district quality, so are you looking at less good district + private school tuition vs good district + $0 public school tui...
by Ybsybs
Thu Apr 25, 2019 1:36 pm
Forum: Personal Investments
Topic: Where to open 529 savings plan?
Replies: 19
Views: 1514

Re: Where to open 529 savings plan?

I'm looking at the CA ScholarShare 529 plan. I plan to start contributing now before the baby is born. However, the application is asking the beneficiary information (i.e. Name, SSN, etc). Can I leave this blank for now since my baby girl is not even born yet? It's another 6 weeks to go and I can't...
by Ybsybs
Thu Apr 25, 2019 1:29 pm
Forum: Personal Investments
Topic: Where to open 529 savings plan?
Replies: 19
Views: 1514

Re: Where to open 529 savings plan?

Ohio's 529 at CollegeAdvantage.com is considered very good for those who don't have a tax reason to use their own state plans. Choose the direct plan though, not the financial advisor plan with the extra fees added on by Blackrock. Within the Ohio 529 direct plan, I recommend the Vanguard Age-Based ...
by Ybsybs
Thu Apr 25, 2019 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Advising financially unsavvy family on windfall
Replies: 77
Views: 6126

Re: Advising financially unsavvy family on windfall

Everyone starts out financially unsavvy and they can become more savvy if it's important to them. I've had moderate success by emphasizing how much peace of mind a savings cushion can provide and how nice it would be to have a larger sum during retirement. In this context it seems that you are also ...