Search found 1737 matches

by gasdoc
Mon Oct 21, 2019 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Entrance Fee for Retirement Community
Replies: 39
Views: 5034

Re: Entrance Fee for Retirement Community

For the purposes of the "audience," at what age does one generally consider a move to a CCRC? In The Villages, in Florida, many people move there in the late 40's and throughout their 50's. In less active 55+ communities that I am familiar with, it seems like people move there in their 70''s. Thank...
by gasdoc
Mon Oct 21, 2019 1:32 pm
Forum: Personal Finance (Not Investing)
Topic: Entrance Fee for Retirement Community
Replies: 39
Views: 5034

Re: Entrance Fee for Retirement Community

For the purposes of the "audience," at what age does one generally consider a move to a CCRC? In The Villages, in Florida, many people move there in the late 40's and throughout their 50's. In less active 55+ communities that I am familiar with, it seems like people move there in their 70''s. Thanks...
by gasdoc
Thu Oct 17, 2019 7:51 am
Forum: Personal Finance (Not Investing)
Topic: What percent of net worth should a persons house be?
Replies: 141
Views: 10325

Re: What percent of net worth should a persons house be?

I am weighing in only because, though I doubt a ratio of house value to net worth is valuable, I do think there should be some sort of ratio of home value to income or net worth. I just don't know how to answer the question myself. Certainly it is not reasonable to expect a person to live in a $30,...
by gasdoc
Thu Oct 17, 2019 7:46 am
Forum: Personal Finance (Not Investing)
Topic: What percent of net worth should a persons house be?
Replies: 141
Views: 10325

Re: What percent of net worth should a persons house be?

I am weighing in only because, though I doubt a ratio of house value to net worth is valuable, I do think there should be some sort of ratio of home value to income or net worth. I just don't know how to answer the question myself. Certainly it is not reasonable to expect a person to live in a $30,0...
by gasdoc
Mon Sep 30, 2019 4:48 pm
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

This is a hypothetical question. If a higher net worth person in the decumulation stage has equal money in tax deferred, taxable and Roth, and therefore could literally pick any income level as a target by pulling from the appropriate accounts, what would that target income be? Would it be the inco...
by gasdoc
Mon Sep 30, 2019 3:10 pm
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

From the OP: Phew! I never thought this was so complex. Thanks, everyone, for the responses. Lots to think about.

gasdoc
by gasdoc
Sun Sep 29, 2019 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

This is the OP. If one is Roth converting up to the 22% bracket, doesn't it make sense to continue to Roth convert all the way to the 24% bracket since it is not much of an increased marginal rate? Thanks. gasdoc To answer your question, it would likely help to determine what approach lets you end ...
by gasdoc
Sun Sep 29, 2019 11:14 am
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

This is the OP. If one is Roth converting up to the 22% bracket, doesn't it make sense to continue to Roth convert all the way to the 24% bracket since it is not much of an increased marginal rate? Thanks.

gasdoc
by gasdoc
Sun Sep 29, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: financially clueless senior MIL who thinks she’s rich
Replies: 162
Views: 20266

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

I think she would be a good fit for independent senior living. $4,000.00 sounds high for this type of housing. You might shop around and see what is available, sounds like she has put some effort into this already. Most seniors in America have less money then her and think they don't have a care in...
by gasdoc
Sun Sep 29, 2019 8:25 am
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

This is the OP. Thanks for all the great responses. They are all very helpful. Does it make a difference if there is an age difference of four years between spouses? For example, when I reach Medicare age of 65, DW will be just 61. When I reach delayed Soc Sec age of 70, DW will be 66. Ect. Thanks. ...
by gasdoc
Sun Sep 29, 2019 8:14 am
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

LadyGeek wrote:
Sat Sep 28, 2019 9:33 am
gasdoc - Would this spreadsheet help? Retiree Portfolio Model

(If you don't have Excel, it runs fine on LibreOffice Calc.)
Thanks, LadyGeek!

gasdoc
by gasdoc
Sat Sep 28, 2019 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

This is a hypothetical question. If a higher net worth person in the decumulation stage has equal money in tax deferred, taxable and Roth, and therefore could literally pick any income level as a target by pulling from the appropriate accounts, what would that target income be? Would it be the inco...
by gasdoc
Sat Sep 28, 2019 8:35 am
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

gasdoc - To keep this actionable, I would assume you are asking this question because it could apply to yourself, a family member, or friend. Thanks, Lady Geek, for giving me the chance to explain. Yes, this applies to myself. I am a few years from turning 62 and am trying to get and keep my Roth, ...
by gasdoc
Sat Sep 28, 2019 8:31 am
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Re: Ideal income bracket target?

This is the OP. Thanks for the thoughtful comments so far. Assume also retirement at 62, Medicare at 65, Soc Security at 70, and no pension. I guess the answer would be different for different ages? Maybe burn through the taxable account from age 62-65, until Medicare kicks in to stay below the ACA,...
by gasdoc
Sat Sep 28, 2019 6:37 am
Forum: Personal Finance (Not Investing)
Topic: Ideal income bracket target?
Replies: 49
Views: 5028

Ideal income bracket target?

This is a hypothetical question. If a higher net worth person in the decumulation stage has equal money in tax deferred, taxable and Roth, and therefore could literally pick any income level as a target by pulling from the appropriate accounts, what would that target income be? Would it be the incom...
by gasdoc
Wed Aug 28, 2019 8:13 am
Forum: Investing - Theory, News & General
Topic: Personal Flagship Representaive Going Away
Replies: 126
Views: 13609

Re: Personal Flagship Representaive Going Away

I generally speak to whomever is available. However, about a year ago, I had a rather complicated issue involving a couple of accounts tied to a defined benefit plan run by an outside administrator, and they needed changes made consistent with a change to the plan. I tried to get it solved by talkin...
by gasdoc
Wed Aug 28, 2019 7:18 am
Forum: Personal Finance (Not Investing)
Topic: How Have You Planned for Sequence of Return Risk (SOR)?
Replies: 178
Views: 11766

Re: How Have You Planned for Sequence of Return Risk (SOR)?

We decreased our AA to 70/30. It may be 65/35 now haven't looked. No rebalancing. TIAA/CREF annuities future SPIAs in the next ten years. pension delayed SS to 70 + spousal benefit temporarily then second SS at 70 rental income Decreased expenses by: No debt, no mortgage No RMDs No taxes on retirem...
by gasdoc
Fri Jul 19, 2019 10:29 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy vs Roth conversions
Replies: 35
Views: 3023

Re: ACA subsidy vs Roth conversions

I know I could look this up myself somewhere, but maybe someone could save me the time and aggravation- once one spouse is on Medicare, and only one spouse is on the ACA, and still looking to qualify for a subsidy, is the amount in question roughly half what it was before the first spouse qualified ...
by gasdoc
Thu Jul 18, 2019 8:57 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy vs Roth conversions
Replies: 35
Views: 3023

Re: ACA subsidy vs Roth conversions

Sounds like this is almost a rule of thumb, as long as the ObamaCare rules don't change, and one has ways to control his/her income in retirement. Should those of us not yet in retirement (but close) plan to wait until Medicare kicks in (age 65ish) but before SS starts (age 70) to Roth Convert? gasdoc
by gasdoc
Wed Jul 17, 2019 4:07 pm
Forum: Personal Consumer Issues
Topic: "Objective" Importance of Keeping Your Physicians?
Replies: 63
Views: 5378

Re: "Objective" Importance of Keeping Your Physicians?

Think of your body as a machine, like a car. Ok, so now let's say...my 195x MWM has a burned out headlight. I can go to any professional and have it replaced. MD, DO, NP, maybe even a D.C.. Now, let's say your classic 65+ year old car has an overheating problem. Thermostat, mixture too lean, timing...
by gasdoc
Wed Jul 17, 2019 4:05 pm
Forum: Personal Consumer Issues
Topic: "Objective" Importance of Keeping Your Physicians?
Replies: 63
Views: 5378

Re: "Objective" Importance of Keeping Your Physicians?

My DW feels strongly enough about physician continuity that she has some hesitancy in retiring to a new area where she will have to relearn the physician community. I wonder if others feel strongly enough about staying with their current physicians to avoid moving to a new area in retirement?

gasdoc
by gasdoc
Wed Jul 17, 2019 3:59 pm
Forum: Personal Consumer Issues
Topic: Garage Organization
Replies: 57
Views: 4842

Re: Garage Organization

ddurrett896 wrote:
Wed Jul 17, 2019 3:49 pm
NewAge Pro cabinet set that includes lockers.

Wood walls instead of Sheetrock so you can nail anywhere on the wall.
The cabinets look great! Did you put wood over the existing sheetrock, or did you have the privilege of starting from scratch?

gasdoc
by gasdoc
Wed Jul 17, 2019 3:52 pm
Forum: Personal Consumer Issues
Topic: Crawl space encapsulation
Replies: 38
Views: 3571

Re: Crawl space encapsulation

As an update, I did get a dehumidifier in May after humidity levels kept pushing above 70%. I was afraid the dehumidifier would use a lot of electricity, but I haven't noticed any significant increase in our bill. It's pretty much in line with last summer. I haven't measured it carefully, but I sus...
by gasdoc
Wed Jul 17, 2019 3:49 pm
Forum: Personal Consumer Issues
Topic: Outdoor Fire Pit - Wood vs. Gas?
Replies: 53
Views: 4052

Re: Outdoor Fire Pit - Wood vs. Gas?

The choice was easy for me. My DW didn't like that she had to ask me to start the wood fire, and wasn't comfortable going to bed with the wood still burning. She wanted something she could walk over to, turn it on, turn it off, walk away and forget about it. She loves sitting out by the pool, and tu...
by gasdoc
Wed Jul 17, 2019 3:44 pm
Forum: Personal Consumer Issues
Topic: Garage Organization
Replies: 57
Views: 4842

Re: Garage Organization

Thanks for the topic, OP! Mind if I piggyback a small question on to your thread? We plan to downsize in retirement, so we would be interested in using the garage for some storage space as well as storing standard "garage stuff." Any ides for this as well?

gasdoc
by gasdoc
Wed Jul 17, 2019 3:38 pm
Forum: Personal Finance (Not Investing)
Topic: How have elderly parents affected your retirement?
Replies: 29
Views: 5517

Re: How have elderly parents affected your retirement?

We don't expect our retirement to be affected "much" financially, as we try to keep money separate other than small gifts, meals out, etc. The need to care for elderly parents does affect our decisions regarding when to leave our local area (where the parent resides in assisted living).

gasdoc
by gasdoc
Tue Jul 16, 2019 1:10 pm
Forum: Personal Finance (Not Investing)
Topic: House not appraising for amount we were offered!
Replies: 137
Views: 14873

Re: House not appraising for amount we were offered!

To me, thats pretty significant -not talking $1000-$5000 difference between appraisal and your listing price. Are you sure your listing price isn't too high? (begs question of Realtor) Feel like info is missing. $20k difference on a home in that price range is significant, even in a sellers market....
by gasdoc
Fri Jul 12, 2019 8:20 pm
Forum: Investing - Theory, News & General
Topic: Retired: Do you withdraw from investments or cash ?
Replies: 74
Views: 9839

Re: Retired: Do you withdraw from investments or cash ?

I don't have any cash. When I need money, I click on a button to see my stock to bond ratio and pull money from the side I have "too much" of. For the last few years, that has been the stock side most of the time. In a stock market downturn, I'll be pulling from the bond side. I don't have to worry...
by gasdoc
Fri Jul 12, 2019 12:58 pm
Forum: Investing - Theory, News & General
Topic: Retired: Do you withdraw from investments or cash ?
Replies: 74
Views: 9839

Re: Retired: Do you withdraw from investments or cash ?

I don't have any cash. When I need money, I click on a button to see my stock to bond ratio and pull money from the side I have "too much" of. For the last few years, that has been the stock side most of the time. In a stock market downturn, I'll be pulling from the bond side. I don't have to worry...
by gasdoc
Wed Jul 10, 2019 3:18 pm
Forum: Investing - Theory, News & General
Topic: Retiring Early Correlates with Greater Longevity ?
Replies: 47
Views: 5209

Re: Retiring Early Correlates with Greater Longevity ?

In The Villages, in Florida, an active lifestyle retirement community, it seems there are many retirees that retired early, and are now in their 70's and 80's, and are still participating in fitness type lifestyle activities. So, are they healthier because they retired early? Possibly. Did they self...
by gasdoc
Wed Jul 10, 2019 3:04 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks continue to soar!
Replies: 1962
Views: 204679

Re: S&P 500 hit 3,000 today

We just hit FI in the last week. But I am still about 3.5 years from actually calling it quits. I believe it is time for our family to begin to de-risk, that is, to move from 60-40 gradually down to about 40-60. Then after retiring we will probably begin a slow glide-path to increasing equities back...
by gasdoc
Thu Jul 04, 2019 5:26 pm
Forum: Investing - Theory, News & General
Topic: Rational that ret portfolios should grow more conservative?
Replies: 20
Views: 1827

Re: Rational that ret portfolios should grow more conservative?

Maybe I missed it, but has anyone actually given an opinion of why Kitces is wrong in his recommendation of a rising equities glidepath? His point that a rising glidepath actually leads to a lower average equities allocation over time, thus a secondary lowering of risk, seemed like a good thing to m...
by gasdoc
Sun Jun 09, 2019 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Where to Purchase Defined Benefit Plan
Replies: 15
Views: 1998

Re: Where to Purchase Defined Benefit Plan

You might want to look at Schwab too: https://www.schwab.com/public/schwab/investing/accounts_products/accounts/small_business_retirement/personal_defined_benefit_plan $1500 setup / $1500 annual fee for 1 person (I know of it but have no experience but it. I applied but wasn't able to use their ser...
by gasdoc
Sun Jun 09, 2019 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: Where to Purchase Defined Benefit Plan
Replies: 15
Views: 1998

Re: Where to Purchase Defined Benefit Plan

What's the difference between a defined benefit plan and an annuity? I thought an annuity was a defined benefit plan. A defined benefit plan simply calculates contributions in order to get to a specific dollar amount (the 'benefit") at retirement. Then the plan pays out the funds in different ways....
by gasdoc
Sat Jun 08, 2019 8:55 pm
Forum: Personal Finance (Not Investing)
Topic: Where to Purchase Defined Benefit Plan
Replies: 15
Views: 1998

Re: Where to Purchase Defined Benefit Plan

I'm looking for other ways to put away retirement savings for tax deduction. I'm already maxing out a Solo 401(k) with both employee and employer contributions and plan to start a backdoor Roth this year. I was looking into defined benefit plans. I was going to get a quote from Vanguard, but I saw ...
by gasdoc
Tue Jun 04, 2019 4:48 am
Forum: Investing - Theory, News & General
Topic: Downsides of VPW?
Replies: 101
Views: 7810

Re: Downsides of VPW?

I/we intend to use this method. I do not know the research into downsides, really have not paid attention to that. I view the downside as having to have enough cash or cash equivalents available to tolerate (psychologically and financially) small withdrawals if needed. Because of this we are growin...
by gasdoc
Sun May 26, 2019 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: Can I deduct a loss for non-paying patients?
Replies: 48
Views: 3959

Re: Can I deduct a loss for non-paying patients?

Bfwolf wrote:
Sun May 26, 2019 7:17 pm
You've already gotten the deduction: you never received the income and therefore won't be taxed on it.
Yup. That's it. Well put.

gasdoc
by gasdoc
Wed May 22, 2019 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: Why Do Homeowners Have Higher Net Worths than Renters?
Replies: 30
Views: 2589

Re: Why Do Homeowners Have Higher Net Worths than Renters?

rocket354 wrote:
Wed May 22, 2019 9:54 am
Why do Lamborghini owners have higher net worths than Kia owners?
Surprised no one else (except the person that just posted before me) has commented on this. I suppose it is because making payments on a Lamborghini leads to car equity, and is therefore fixed savings????? Nice analogy!

gasdoc
by gasdoc
Sat May 18, 2019 9:37 am
Forum: Personal Consumer Issues
Topic: Crawl space encapsulation
Replies: 38
Views: 3571

Re: Crawl space encapsulation

I'd go ahead and put in a dehumidifier and seal/insulate the vents. Then you can achieve low humidity and take advantage of all that new insulation. We have a completely clean, dehumidified, sealed crawlspace that we open to change the dehumidifier filter every three months. It is great. gasdoc I s...
by gasdoc
Sat May 18, 2019 9:34 am
Forum: Personal Consumer Issues
Topic: Covering outdoor patio furniture
Replies: 9
Views: 798

Re: Covering outdoor patio furniture

We move cushions into storage in the winter, and leave them on the furniture 24/7 during the warmer season. We don't cover the furniture, and occasionally hose it all off.

gasdoc
by gasdoc
Sat May 18, 2019 9:31 am
Forum: Personal Finance (Not Investing)
Topic: UPDATE: Funding fiancee plastics practice.
Replies: 15
Views: 2478

Re: UPDATE: Funding fiancee plastics practice.

Estimated budget (based on her business plan): ~10K/month (subleasing/malpractice/ disability /Botox vials/equipment). Be sure to verify if she will be able to get disability insurance before her practice is established. At least outside of the medical fields it is my understanding that insurers wi...
by gasdoc
Fri May 17, 2019 10:38 am
Forum: Personal Consumer Issues
Topic: Crawl space encapsulation
Replies: 38
Views: 3571

Re: Crawl space encapsulation

I just encapsulated mine over the winter. Start to finish took about 3 months and I spent about $3000 to put in french drains and encapsulate. The crawl space at my home was about 1700 square feet and I have and average of about 4' of room between the ground and the bottom floor of the house. The p...
by gasdoc
Fri May 17, 2019 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Refinancing medical school loans?
Replies: 19
Views: 1902

Re: Refinancing medical school loans?

While refinancing might help a little the most impactful savings will be to get extremely serious, budget and be frugal, and to put as much money as possible to pay off the loans while getting her income up as much as possible. This will have far more impact than a little bit of interest savings. B...
by gasdoc
Mon May 13, 2019 6:58 pm
Forum: Personal Finance (Not Investing)
Topic: Hoping a quick S-Corp question . . .
Replies: 9
Views: 891

Re: Hoping a quick S-Corp question . . .

Just an FYI, I spoke to my collections person today. She says money from various settlements, including estate settlements after death, often come in for 10+ years. gasdoc lol, I guess I won't be getting much sympathy for receiving an income stream in retirement but, honestly, I don't need the $$ a...
by gasdoc
Mon May 13, 2019 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan
Replies: 30
Views: 4090

Re: Defined Benefit Plan

Since this is re-opened, I will point out that I did in fact open a DBP with the goal of funding it over 5 years and then likely close it out and transfer to an IRA I keep my bond portion of my portfolio in the DBP which keeps volatility low and allows for creating expected contribution needs every...
by gasdoc
Mon May 13, 2019 8:42 am
Forum: Personal Finance (Not Investing)
Topic: Hoping a quick S-Corp question . . .
Replies: 9
Views: 891

Re: Hoping a quick S-Corp question . . .

Just an FYI, I spoke to my collections person today. She says money from various settlements, including estate settlements after death, often come in for 10+ years.

gasdoc
by gasdoc
Mon May 13, 2019 8:38 am
Forum: Personal Finance (Not Investing)
Topic: Leaving My CPA
Replies: 22
Views: 2602

Re: Leaving My CPA

I can't believe you were willing to share your confidential tax info with your brother-in-law for 20 years! I wouldn't have been able to do it.

gasdoc
by gasdoc
Sun May 12, 2019 4:44 pm
Forum: Personal Finance (Not Investing)
Topic: Defined Benefit Plan
Replies: 30
Views: 4090

Re: Defined Benefit Plan

Since this is re-opened, I will point out that I did in fact open a DBP with the goal of funding it over 5 years and then likely close it out and transfer to an IRA I keep my bond portion of my portfolio in the DBP which keeps volatility low and allows for creating expected contribution needs every...
by gasdoc
Sun May 12, 2019 4:17 pm
Forum: Personal Finance (Not Investing)
Topic: Hoping a quick S-Corp question . . .
Replies: 9
Views: 891

Re: Hoping a quick S-Corp question . . .

For what it is worth, I have some experience but not exactly the same thing. When we dissolved an old group corporation about ten years ago, I bought the accounts that were pending at that time (for $10, the best return on investment ever. We had them all sent to a local collection agency (not a pun...
by gasdoc
Sat May 11, 2019 7:25 am
Forum: Personal Finance (Not Investing)
Topic: Continue working for benefit of adult children or retiring earlier?
Replies: 87
Views: 6895

Re: Continue working for benefit of adult children or retiring earlier?

If DD gets into medical school, I will work a bit longer to help her pay for it.

gasdoc