Search found 2446 matches

by NotWhoYouThink
Sun May 26, 2019 9:19 am
Forum: Personal Finance (Not Investing)
Topic: completely freaked out about withdrawing from retirement accounts....
Replies: 71
Views: 8879

Re: completely freaked out about withdrawing from retirement accounts....

OP, for the sake of your kids or whoever will feel obligated to take care of you as you age, PLEASE get over your worry about spending money. Read the wiki on variable withdrawal rates, see a counselor, do your own research, but get over the idea that this money is to save and not to spend. You are ...
by NotWhoYouThink
Sat May 25, 2019 3:14 pm
Forum: Personal Investments
Topic: Rethinking Individual Stocks
Replies: 37
Views: 2396

Re: Rethinking Individual Stocks

No serious person argues that no one has succeeded, or can succeed, with individual stocks. There are plenty of counter-examples, so of course owning individual stocks can work. The argument for indexing is that owning individual stocks is riskier - you could have extreme high performance, or you co...
by NotWhoYouThink
Sat May 25, 2019 10:55 am
Forum: Personal Consumer Issues
Topic: is A in accelerated better than B in honors for undergrad application.
Replies: 14
Views: 987

Re: is A in accelerated better than B in honors for undergrad application.

For a highly competitive university, the correct answer is that it takes an A in the honors course. For most of the rest it won't matter.

At my niece's high school graduation this week, 100 of the 500 graduates had a weighted GPA of 4.0 or higher.
by NotWhoYouThink
Fri May 24, 2019 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 2853

Re: Do you think we can stop funding our 529 plan?

If you remove money from the 529 and don't spend it on qualified educational expenses for the beneficiary, you pay tax (at ordinary income rates, not capital gains) on the earnings, plus a 10% penalty on the earnings. If the beneficiary gets a scholarship, you can remove the amount of the scholarshi...
by NotWhoYouThink
Thu May 23, 2019 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Payable On Death Account to Complement Will
Replies: 66
Views: 3371

Re: Payable On Death Account to Complement Will

You know what they say about leading a horse to water. Attorneys can give you checklists and request that you schedule follow-up visits to verify that you have completed all the needed steps, but they can't force you to get it done. And people are pretty good about avoiding tasks that stress them, w...
by NotWhoYouThink
Thu May 23, 2019 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 2853

Re: Do you think we can stop funding our 529 plan?

Back to funding the 529 - you live in Utah? I hear from another poster that your state has some high quality affordable public options. So certainly take that into account. But also take into account that it is cheaper for you to pay for those options with 529 funds that grew tax free than with sale...
by NotWhoYouThink
Thu May 23, 2019 7:54 am
Forum: Personal Finance (Not Investing)
Topic: Do you think we can stop funding our 529 plan?
Replies: 41
Views: 2853

Re: Do you think we can stop funding our 529 plan?

It's ok to save for college even before you have fully secured your retirement funding. You can contribute both to 401k/IRA and 529 as early and for as long as you like. If you are determined to retire at the earliest possible date, and are not at all sold on footing the bill for college you might c...
by NotWhoYouThink
Wed May 22, 2019 6:57 pm
Forum: Investing - Theory, News & General
Topic: How does the charitable fund deduction work?
Replies: 20
Views: 1007

Re: How does the charitable fund deduction work?

At least 2 differences between donating to a DAF and donating directly that may be of interest. - Megacorp will match my donations to certain non-profits (not churches, but yes to educational institutions, for example). They will not match donations to or from a DAF. - My state gives me tax credits ...
by NotWhoYouThink
Tue May 21, 2019 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Should I encourage my kids to work in high school/college?
Replies: 170
Views: 8383

Re: Should I encourage my kids to work in high school/college?

There is no right answer. Kids need responsibilities, and need to learn some discipline and how to work with and for people. They can do that at a paying job, as a member of a sports team, or in volunteer activities. Their lessons working at McDonald's will be different from the lessons on the varsi...
by NotWhoYouThink
Tue May 21, 2019 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 17667

Re: Very High Net Worth, elite private or “good” public

I don't want to drag this topic any further. My intention from the beginning was not to compare various education systems around the world - useless and not actionable - but to obtain an understanding why sports and arts are seen as part a good school while academics are of much less concern. Which...
by NotWhoYouThink
Mon May 20, 2019 7:50 pm
Forum: Personal Investments
Topic: Convince me that a 529 plan is a good idea.
Replies: 42
Views: 3125

Re: Convince me that a 529 plan is a good idea.

I understand that the 529 comes first when financial aid is calculated. I can be wrong, but I think 529 is for those have a lot of money or those plan to go to state colleges, since you cannot get much financial aid either way. I just don't feel comfortable with the idea that I am tied to pay for m...
by NotWhoYouThink
Sun May 19, 2019 1:47 pm
Forum: Personal Consumer Issues
Topic: Guidance to Parents With Kids Majoring Computer Science
Replies: 25
Views: 2313

Re: Guidance to Parents With Kids Majoring Computer Science

In what world do companies hire graduates who did what they did because their parents "had them" do it, rather than because the graduates made those choices themselves? Maybe this is good advice to CS students, maybe not. But their parents have better things to do than micromanage their education an...
by NotWhoYouThink
Sat May 18, 2019 9:28 pm
Forum: Personal Finance (Not Investing)
Topic: At what NW do I have disposable income?
Replies: 85
Views: 5888

Re: At what NW do I have disposable income?

Net worth has little to do with discretionary income, during working years or in retirement. I used to save ~20% of gross for retirement and spend the rest with wild abandon. Now in retirement, I spend even more. It has to do with your level of income compared to Basic Expenses. If your Basic Expen...
by NotWhoYouThink
Sat May 18, 2019 9:15 pm
Forum: Personal Finance (Not Investing)
Topic: Life insurance - how much? group vs individual fixed term
Replies: 8
Views: 662

Re: Life insurance - how much? group vs individual fixed term

Price out an individual term policy outside work and if cheaper dump the group insurance and the horrible plans you have outside work (scam Whole Life and renewable annual term). Term insurance outside work is highly recommended even if it costs a little more because if you lose your job and still ...
by NotWhoYouThink
Sat May 18, 2019 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Very High Net Worth, elite private or “good” public
Replies: 278
Views: 17667

Re: High net worth, elite private or “good” public

Private. Attending the private school was a life-changing event for one of my kids, and an improvement in the life of the other. This is in spite of the fact that the public school in our area was a very well regarded public school system, frequently ranked among the best in the nation. But, they w...
by NotWhoYouThink
Fri May 17, 2019 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Probate costs?--I am the sole heir and the executor
Replies: 65
Views: 5649

Re: Probate costs?--I am the sole heir and the executor

Your original post was a little confusing - you have 2 sisters, or your father had 2 sisters?
by NotWhoYouThink
Thu May 16, 2019 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: Logistics of splitting tuition costs with child
Replies: 77
Views: 3401

Re: Logistics of splitting tuition costs with child

Ultimately if they have 100K debt from a bachelor degree they went to the wrong school. A lot of the problem these days is students see college as an experience rather than education. They will go spend 120K getting a bachelor degree when they could spend 40K on a comparable program from a differen...
by NotWhoYouThink
Thu May 16, 2019 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Logistics of splitting tuition costs with child
Replies: 77
Views: 3401

Re: Logistics of splitting tuition costs with child

Hmm, maybe this will start another marginal/effective rate diversion, but... If you maximize your tax-deferred contribution as early as possible in your career, you are putting in money with comparatively little tax savings - maybe your savings are in the 12-15% brackets instead of the 32-35% bracke...
by NotWhoYouThink
Thu May 16, 2019 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Logistics of splitting tuition costs with child
Replies: 77
Views: 3401

Re: Logistics of splitting tuition costs with child

Ultimately if they have 100K debt from a bachelor degree they went to the wrong school. A lot of the problem these days is students see college as an experience rather than education. They will go spend 120K getting a bachelor degree when they could spend 40K on a comparable program from a differen...
by NotWhoYouThink
Thu May 16, 2019 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Do you reward yourself for achieving a financial goal?
Replies: 107
Views: 6394

Re: Do you reward yourself for achieving a financial goal?

When we hit a significant milestone, I now buy Kona coffee without feeling like I’m a spendthrift. I still can’t get myself to splurge on business class tickets. Howdy When you have figured out a way to talk yourself into it let me know. I can’t either. W B When one of us (wife/me) gets close to do...
by NotWhoYouThink
Thu May 16, 2019 8:08 am
Forum: Personal Finance (Not Investing)
Topic: Worth Fighting a Speeding Ticket?
Replies: 64
Views: 4252

Re: Worth Fighting a Speeding Ticket?

If you were wrong, what's your point? I can't speak for OP, but one valid point would be that given the infraction, there are multiple perfectly legal ways to deal with it. One way has an immediate known costs, and future costs that while unknown might be substantial. Other ways could have similar ...
by NotWhoYouThink
Thu May 16, 2019 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1276

Re: Social Security Income and Medicaid Eligibility - Planning Question

They need to develop a better understanding of how Medicare and Medicaid work together for people who need or may need long term care. Medicare covers their health care after they turn 65, and there is no reason at all to avoid Medicare coverage in favor of Medicaid with their level of available inc...
by NotWhoYouThink
Thu May 16, 2019 6:54 am
Forum: Personal Finance (Not Investing)
Topic: Logistics of splitting tuition costs with child
Replies: 77
Views: 3401

Re: Logistics of splitting tuition costs with child

Your children can choose any college. However, an inability to fund that college without great financial pain SHOULD be considered, no? Agree to pay 75% for any school UP TO the cost of school X. If they choose a cheaper school, you save money. If they choose a more expensive school, THEY have more...
by NotWhoYouThink
Tue May 14, 2019 5:42 pm
Forum: Personal Finance (Not Investing)
Topic: Worth Fighting a Speeding Ticket?
Replies: 64
Views: 4252

Re: Worth Fighting a Speeding Ticket?

If local law and practice allow paying a fine without pleading guilty to speeding, I see no moral problem with doing so.

If people feel better pleading guilty than paying a lawyer to change the charge, that's fine for me too, I won't judge.
by NotWhoYouThink
Tue May 14, 2019 5:08 pm
Forum: Personal Investments
Topic: refusing inheritance
Replies: 45
Views: 5000

Re: refusing inheritance

Who will the executor be? For accounts that had a TOD/POD/Beneficiary designation, the financial institutions will make sure to follow the specific directions and state law in case one of the beneficiaries decides to disclaim. For anything passing through probate or trust, it appears to be a jungle ...
by NotWhoYouThink
Tue May 14, 2019 4:56 pm
Forum: Investing - Theory, News & General
Topic: Will a financial pro be WILLING to run your SWR plan after cognitive decline?
Replies: 67
Views: 4322

Re: Will a financial pro be WILLING to run your SWR plan after cognitive decline?

Is your main requirement the withdrawal amount or the investment mix? Because I don't see how someone can force you to spend money if you don't want to, or prevent you from spending if you need long term care.
by NotWhoYouThink
Tue May 14, 2019 4:30 pm
Forum: Personal Investments
Topic: Account For Nieces
Replies: 22
Views: 1264

Re: Account For Nieces

Are you planning to open similar accounts for any and all future nieces and nephews? If you choose to do this, you need to let your brother know, and if the contributions are anywhere near $15K each they will probably have to pay tax on the investment earnings eventually. That can be paid out of the...
by NotWhoYouThink
Tue May 14, 2019 4:22 pm
Forum: Personal Investments
Topic: How to calculate exactly how much money you'll have by retirement?
Replies: 75
Views: 7398

Re: How to calculate exactly how much money you'll have by retirement?

You can't. You can't know exactly what you will have, or exactly what you will need. The future, including tomorrow, is uncertain.

Save 15-20% of gross income, invest in a low cost diversified portfolio, and do projections like those above every 5-10 years.
by NotWhoYouThink
Tue May 14, 2019 1:47 pm
Forum: Personal Investments
Topic: Account For Nieces
Replies: 22
Views: 1264

Re: Account For Nieces

There is no maximum allowed amount. If you give over $15k per year per recipient you have to fill out a form. Until you have given $11.2M there are no tax consequences. But you could give more than that.
by NotWhoYouThink
Tue May 14, 2019 1:13 pm
Forum: Personal Investments
Topic: CPA advice--does this make sense??
Replies: 33
Views: 4896

Re: CPA advice--does this make sense??

OP's posting history indicates he is 73 and gives almost identical responses about 5 posts in to any question, then leaves.
by NotWhoYouThink
Tue May 14, 2019 1:09 pm
Forum: Personal Investments
Topic: Account For Nieces
Replies: 22
Views: 1264

Re: Account For Nieces

Why would you open custodial accounts rather than contributing to custodial accounts owned by their parents? Do you not agree with their parents on what access they should have to money? Are you willing to go against their wishes, and deal with the consequences?
by NotWhoYouThink
Tue May 14, 2019 12:07 pm
Forum: Personal Consumer Issues
Topic: Police and Troopers fund.
Replies: 77
Views: 3121

Re: Police and Troopers fund.

Never to anyone who cold calls me. Say no, hang up. If it sounds like it has potential, I might look them up on Charity Navigator. There is a group here that does not do cold calls that helps the families of first responders killed in the line of duty. I'm sad to say I learned through a friend that ...
by NotWhoYouThink
Tue May 14, 2019 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Worth Fighting a Speeding Ticket?
Replies: 64
Views: 4252

Re: Worth Fighting a Speeding Ticket?

If you fight it, chances are you will spend a lot of time in the Courtroom waiting for your case. Do you want to do that? Not where I live. You go to the (Traffic Law firm's) website, enter your name, location, and what the ticket is for (50 in a 40, failure to stop, whatever). They give an all-in ...
by NotWhoYouThink
Tue May 14, 2019 7:50 am
Forum: Investing - Theory, News & General
Topic: When does it make sense to have an FA?
Replies: 4
Views: 422

Re: When does it make sense to have an FA?

Reasons I came up with: help mitigate cognitive decline, help with behavioral issues (i.e. like selling in a panic), desire to recapture time spent doing DIY investing, exposure to asset classes/funds that retail investor would not have access to , having a written plan that someone can update for ...
by NotWhoYouThink
Tue May 14, 2019 7:25 am
Forum: Personal Investments
Topic: refusing inheritance
Replies: 45
Views: 5000

Re: refusing inheritance

Yeah, you can find zillions of stories about grown-up kids who were filled with resentment for the rest of their lives because their parents left more money to their poorer siblings. So if you want to share with your brother, good for you - but don't blame your parents. You can also find zillions of...
by NotWhoYouThink
Tue May 14, 2019 7:19 am
Forum: Personal Finance (Not Investing)
Topic: Worth Fighting a Speeding Ticket?
Replies: 64
Views: 4252

Re: Worth Fighting a Speeding Ticket?

Fighting it can save you some insurance money. For those that don't know, in many states you can hire a law firm to work with the municipal court to get the ticket changed to illegal parking or some other non-moving violation and avoid points against your driver's license. You have to pay a fee to t...
by NotWhoYouThink
Tue May 14, 2019 7:16 am
Forum: Forum Issues and Administration
Topic: For how long will the forum be around?
Replies: 94
Views: 7097

Re: For how long will the forum be around?

Until we all agree on what dividends are, and whether they are good.
by NotWhoYouThink
Mon May 13, 2019 2:02 pm
Forum: Personal Investments
Topic: Does our adviser hate us - Brokerage Account help please
Replies: 27
Views: 2501

Re: Does our adviser hate us - Brokerage Account help please

Your advisor is trained in sales, not finance or investing. His corporate overlords have recommended this type of portfolio, and told him how to sell it to you. Probably, he believes that they are smarter and righter than you are, and he thinks he's doing you lots of good while also making money. Wh...
by NotWhoYouThink
Mon May 13, 2019 1:57 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 7820

Re: Inherited ranch

The "pay it off over 20 years with no interest" strategy is how these kinds of things have traditionally been done in parts of farm country. Many in those regions will see an unwillingness to conform to this model as an insult. Enforcing some other structure may result in far more friction that goi...
by NotWhoYouThink
Mon May 13, 2019 1:53 pm
Forum: Personal Investments
Topic: Email to my Edward Jones Rep
Replies: 46
Views: 4199

Re: Email to my Edward Jones Rep

You are giving him an opportunity to sell you on staying with him. Even though that's not the question you are asking, that's the one he has been trained to answer. He'll answer "Why should you stay with me even though I will sell you high-fee actively managed funds." And his answer will be that alt...
by NotWhoYouThink
Sun May 12, 2019 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 7820

Re: Inherited ranch

If the family member can't get financing and you are really interested in keeping it in the family, rent it to them at market rate (can be hard to determine) and hold onto it. That might be tough to get everyone to agree to that (though other family members are free to sell on a 20-year 0% loan) wh...
by NotWhoYouThink
Sun May 12, 2019 12:49 pm
Forum: Personal Investments
Topic: CPA advice--does this make sense??
Replies: 33
Views: 4896

Re: CPA advice--does this make sense??

Are you making your charitable contributions through Qualified Charitable Distributions from your IRA/401k accounts? If you are giving to charity but not doing this then you can do more to save on taxes and should find a better CPA. You can afford it.
by NotWhoYouThink
Sat May 11, 2019 1:49 pm
Forum: Personal Consumer Issues
Topic: What to know before moving all my belongings into storage?
Replies: 19
Views: 1737

Re: What to know before moving all my belongings into storage?

Don't use a storage facility protected by a levee. Levees fail.

Also, insure your stuff.
by NotWhoYouThink
Sat May 11, 2019 12:23 pm
Forum: Personal Consumer Issues
Topic: Best way to kill poison ivy
Replies: 43
Views: 2232

Re: Best way to kill poison ivy

Jurors are not selected for their expertise in medical science, and personal injury attorneys are amoral. If you were comfortable using Roundup before nothing a jury says should change your mind.
by NotWhoYouThink
Fri May 10, 2019 2:11 pm
Forum: Personal Consumer Issues
Topic: Backpacking/study abroad for young folks
Replies: 31
Views: 2013

Re: Backpacking/study abroad for young folks

However, I noticed a common theme in their stories that one person eventually stated outright: they did far more partying with university peers than they did exploring, meeting people, and immersing themselves in the culture. In other words, it appeared to me a lot of study abroad students really w...
by NotWhoYouThink
Fri May 10, 2019 7:48 am
Forum: Personal Finance (Not Investing)
Topic: College Expenses
Replies: 232
Views: 10914

Re: College Expenses

Wow, we've come a long way from: We have a 7 and 12 year old with roughly $80K and $90K put away so far for college. My question - How do I "guess" REAL college expenses? I know the costs of the state schools To where to go to undergraduate to get into a good med school. It's been an interesting vie...
by NotWhoYouThink
Thu May 09, 2019 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Educational pathway(s) for future engineer
Replies: 89
Views: 3734

Re: Educational pathway(s) for future engineer

NSCU NorthStar Credit Union? Honestly, I don't know what big state school you mean. About nuclear - it may be niche, but may also be the next big thing if governments decide to get serious about reducing carbon emissions. I haven't researched enough to filter hype from reality, but if there are opt...
by NotWhoYouThink
Wed May 08, 2019 6:38 am
Forum: Personal Finance (Not Investing)
Topic: College Expenses
Replies: 232
Views: 10914

Re: College Expenses

And remember that the plural of Ivy is Ivys Ivy's IVY's Ivies.
by NotWhoYouThink
Tue May 07, 2019 5:44 pm
Forum: Personal Finance (Not Investing)
Topic: Public Service Loan Forgiveness-Has it worked for anyone?
Replies: 60
Views: 7420

Re: Public Service Loan Forgiveness-Has it worked for anyone?

And just to emphasize, I'm hope this doesn't read as "blaming the victim". I just want to ensure that people understand that this is viable program which can provide relief for many people. Yet smart people are getting scared and dropping out due to fear and misinformation. I know one woman who had...
by NotWhoYouThink
Tue May 07, 2019 9:15 am
Forum: Personal Finance (Not Investing)
Topic: Educational pathway(s) for future engineer
Replies: 89
Views: 3734

Re: Educational pathway(s) for future engineer

If everybody who entered freshman year as engineering majors and pre-med became engineers and doctors we would have a glut of both. There is a lot of wash-out, and also a lot of young people changing their plans once they have a better understanding of other options, and of what the academic require...