Search found 7802 matches

by tfb
Thu Jul 19, 2018 2:03 pm
Forum: Personal Finance (Not Investing)
Topic: Job vs term life insurance
Replies: 6
Views: 371

Re: Job vs term life insurance

I have currently life insurance at my employer. Because benefits are based on my salary, it's ~40% cheaper of what I would get looking at term4sale. I don't grasp the full implications of it. My questions (and other comments you may think of): - Which the real difference between job and term LI? Ju...
by tfb
Wed Jul 18, 2018 10:39 am
Forum: Personal Finance (Not Investing)
Topic: New book based on Millionaire Next Door
Replies: 58
Views: 7984

Re: New book based on Millionaire Next Door

I still think lawyers and Dr's represent higher than their proportion of millionaires in America. They may do less with more, but they still are at that level in absolute terms relative to their proportions in the workforce I believe. Obviously small business owners that don't have to flaunt it mak...
by tfb
Mon Jul 09, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth: confusing form for in-service withdrawal
Replies: 7
Views: 394

Re: Mega backdoor Roth: confusing form for in-service withdrawal

The investor would like to move the after-tax contributions to a Roth IRA, and the earnings on those after-tax contributions to a traditional IRA. The plan allows in-service withdrawals of after-tax contributions and earnings but the form confuses the investor. Not all plans allow the split rollove...
by tfb
Sun Jul 08, 2018 8:54 pm
Forum: Personal Consumer Issues
Topic: Honda key remotes/transponders
Replies: 5
Views: 640

Re: Honda key remotes/transponders

Making a new key start the car requires programming at the dealership but making a remote open the door does not. Search for YouTube videos on how to do the programming by a sequence of key presses and turning the key. By the way both still work on my original key from 2005. So I don't think you sho...
by tfb
Fri Jul 06, 2018 9:01 am
Forum: Personal Finance (Not Investing)
Topic: 10 years to lose wealth applicable to bogleheads ?
Replies: 32
Views: 3713

Re: 10 years to lose wealth applicable to bogleheads ?

High-income earners have a hard time remaining at the top. Almost all of those who make it to the top 1% find themselves earning less within a decade. ... ... Bogleheads, what do you think ? Does the above apply to you ? This applies to me. If I ever made it to 1%, I didn't stay there for long, but...
by tfb
Mon Jul 02, 2018 9:26 pm
Forum: Investing - Help with Personal Investments
Topic: Fidelity Fees For Bond Purchases
Replies: 8
Views: 646

Re: Fidelity Fees For Bond Purchases

LTCPDA wrote:
Mon Jul 02, 2018 3:58 pm
Fidelity will charge me a $2,000 fee for purchasing $500,000 of muni bonds based on my requirements.
What are those requirements? You will have to pay the markup on top of the fee. It's much less expensive to relax the requirements and just buy a muni bond fund.
by tfb
Mon Jul 02, 2018 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Fed survey: 40% of adults cannot cover a $400 emergency expense
Replies: 48
Views: 4994

Re: Fed survey: 40% of adults cannot cover a $400 emergency expense

I wasn't sure whether this belongs here ("News") or under personal finance. Fed survey shows 40 percent of adults still can't cover a $400 emergency expense I was really surprised by this. You usually hear about how you are supposed to have 3-6 months of expenses saved in an emergency fund. I have ...
by tfb
Sun Jul 01, 2018 1:32 am
Forum: Personal Finance (Not Investing)
Topic: Local Bank Branch Consolidation - Huh?
Replies: 12
Views: 1013

Re: Local Bank Branch Consolidation - Huh?

Banks report to regulators the amount of deposits by branch. If you go to FDIC you can look at reports of banks' deposit market share in each zip code. So they have to assign each account to a branch.
by tfb
Fri Jun 22, 2018 12:21 am
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 96
Views: 9211

Re: "Open Social Security" calculator: feature requests, bug reports, etc

Yours was a real eye opener as it suggested he start SS at 62 + 1 month and I file spousal benefits at 66 and 2 months. Then file my own at 70. This was intriguing b/c everything I ever read said the higher earner should file at 70. That's because you have a unique opportunity to file a restricted ...
by tfb
Thu Jun 21, 2018 8:52 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 96
Views: 9211

Re: "Open Social Security" calculator: feature requests, bug reports, etc

GeraniumLover wrote:
Thu Jun 21, 2018 8:39 pm
Then why does Open Social Security ask about when you are going to retire and future earnings?
It's for the earnings test, in case you claim while you are working.
by tfb
Thu Jun 21, 2018 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 96
Views: 9211

Re: "Open Social Security" calculator: feature requests, bug reports, etc

I think this is my problem. When prompted for PIAs, I entered the full retirement age #s from the SS benefit report. But these assume continued earnings at present level through full retirement age. I don't know how this tool is meant to work when early retirement is involved. You can project your ...
by tfb
Wed Jun 06, 2018 9:31 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 96
Views: 9211

Re: "Open Social Security" calculator: feature requests, bug reports, etc

My original thought was that coordinating spousal benefits (restricted applications in particular) is easier using dates (i.e., so you can just pick the same date), rather than "OK, my spouse is 3 years and 4 months younger than me, which means that when I'm 66, she'll be..." That's certainly true....
by tfb
Wed Jun 06, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: "Open Social Security" calculator: feature requests, bug reports, etc
Replies: 96
Views: 9211

Re: "Open Social Security" calculator: feature requests, bug reports, etc

One thing that would help me to make this calculator as useful as possible: if you have input about how you want these features to be implemented, that would be helpful. Copying my feature requests from the other thread: I would suggest showing sensitivity to the output. For example suppose it show...
by tfb
Wed Jun 06, 2018 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Helping MIL with Reverse Mortgage/LTC Insurance
Replies: 10
Views: 1050

Re: Helping MIL with Reverse Mortgage/LTC Insurance

Yes, the $4800 a year is added to the loan balance whether or not she uses any more of the money from the RM. That may be the interest on the amount already owed though. You need to find out the exact terms. What's owed as of now? How much room does she have for additional draws? How much does the ...
by tfb
Tue Jun 05, 2018 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: New SS claiming calculator ["Open Social Security" - ObliviousInvestor]
Replies: 65
Views: 5313

Re: New SS claiming calculator

I tried it. It works great. I would suggest showing sensitivity to the output. For example suppose it shows the computed optimal time for spouse is at age 65 and 6 months. How important is exactly 65 and 6 months? If a sensitivity button or graph shows anywhere between 62 and 68 changes the result b...
by tfb
Tue Jun 05, 2018 9:27 pm
Forum: Personal Finance (Not Investing)
Topic: Helping MIL with Reverse Mortgage/LTC Insurance
Replies: 10
Views: 1050

Re: Helping MIL with Reverse Mortgage/LTC Insurance

She will not consider moving, and the RM may render this impossible, in any case. If she's willing to move, she can just sell the home and pay off the balance on the reverse mortgage with the proceeds. That may free up additional funds for her depending on the value of the home and what's owed now ...
by tfb
Mon Jun 04, 2018 8:26 pm
Forum: Personal Finance (Not Investing)
Topic: Mega backdoor Roth & self directed solo 401k
Replies: 27
Views: 1686

Re: Mega backdoor Roth & self directed solo 401k

I am poised to make contributions in order to get the benefits of a Mega Backdoor Roth. I'm a little confused on the actual process. As someone who does this, I don't recommend doing it without a knowledgeable administrator. Employee Fiduciary charges $1,500 a year plus 0.08% of assets. That's your...
by tfb
Sat Jun 02, 2018 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Have $2.5M at 30, career advice needed
Replies: 49
Views: 5353

Re: Have $2.5M at 30, career advice needed

This math and expense make retiring not very possible at this stage. We do realize that if we were to move a LCOL with less taxes (like Seattle), we could practically retire. We do enjoy our jobs and very much enjoy working where we work now (both in high tech). Bay Area resident here. Other than n...
by tfb
Fri Jun 01, 2018 12:46 pm
Forum: Investing - Help with Personal Investments
Topic: Strategy for upcoming $3M windfall
Replies: 60
Views: 11562

Re: Strategy for upcoming $3M windfall

Don't be fooled by these large coupon numbers. If you paid above par your actual yields are a lot lower. Or these bonds can be very low quality. It's hard to tell which is the case without the CUSIP numbers, but either way your advisor misled you if you think you got good quality bonds at good yiel...
by tfb
Fri Jun 01, 2018 12:38 pm
Forum: Investing - Help with Personal Investments
Topic: Strategy for upcoming $3M windfall
Replies: 60
Views: 11562

Re: Strategy for upcoming $3M windfall

[*]AUSTIN TX SPL ASSMNT REVENUE 8.375% DUE 09/01/2022 [*]PUERTO RICO PUB BLDGS AUTH 6% DUE 07/01/2024 [*]HERTZ CORP SENIOR NOTE CALLABLE M/W 7.375% [*]TRIPLEPOINT VENTR GRW BDC CORP NT 5.75% DUE 7/15/22 [*]KINDRED HEALTHCARE INC SENIOR NOTE M/W 8% DUE 01/15/2020 Don't be fooled by these large coupo...
by tfb
Thu May 31, 2018 12:25 pm
Forum: Investing - Help with Personal Investments
Topic: Creative Planning vs Vanguard PAS
Replies: 94
Views: 6071

Re: Creative Planning vs Robo-advisor

Vanguard ETFs and Vanguard mutual funds are exactly equally tax efficient anyway because they are simply different share classes of the same fund. I would dispute that statement. They are not equal because the IRS treats them differently even though they may hold the exact same securities. For exam...
by tfb
Wed May 30, 2018 9:13 pm
Forum: Investing - Help with Personal Investments
Topic: Creative Planning vs Vanguard PAS
Replies: 94
Views: 6071

Re: Creative Planning vs Robo-advisor

I believe that asset location is real and an obvious benefit. So far I haven't seen any effect from tax loss harvesting and am unlikely to going forward. The tax efficiency of ETFs seems real according to everything I've read. Why go with mutual funds when ETFs offer known advantages. Yes, tax effi...
by tfb
Wed May 30, 2018 9:50 am
Forum: Investing - Help with Personal Investments
Topic: Creative Planning vs Vanguard PAS
Replies: 94
Views: 6071

Re: Creative Planning vs Robo-advisor

based on my reading, ETFs are likely to be more tax efficient than mutual funds. Someone sold you a number of exaggerations: on asset location, tax loss harvesting, and tax efficiency of ETFs. It seems anything related to tax just pulls you in. While there may be a difference in any one of these, t...
by tfb
Tue May 29, 2018 1:18 pm
Forum: Investing - Help with Personal Investments
Topic: Creative Planning vs Vanguard PAS
Replies: 94
Views: 6071

Re: Creative Planning vs Vanguard PAS

I think some of the services are more or less one time only so the value is diminished over time. That's the key. Asset location is also more or less one time. While the value is diminished over time, your cost in dollars goes up substantially over time. Since you are retired, without relatively la...
by tfb
Sun May 27, 2018 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: Optimizing for the 12% bracket in early retirement
Replies: 17
Views: 2947

Re: Optimizing for the 12% bracket in early retirement

Dottie57 wrote:
Sun May 27, 2018 6:32 pm
Are you saying $10 of conversion (10bucks) Will negate the whole subsidy? (10% * 10) Sounds crazy.
Edited for better wording. 10% of the converted dollar, not 10% of the subsidy.
by tfb
Sun May 27, 2018 6:25 pm
Forum: Investing - Help with Personal Investments
Topic: Optimizing for the 12% bracket in early retirement
Replies: 17
Views: 2947

Re: Optimizing for the 12% bracket in early retirement

3) ACA premium subsidies / cost-sharing: If I can solve for #1 above (dividends), it might be possible to qualify for ACA premium subsidies/cost-sharing, assuming (big assumption) that those are still available in several years, but that would limit the 401k-to-Roth conversion amount. Which is bett...
by tfb
Sun May 27, 2018 2:32 pm
Forum: Investing - Help with Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 83
Views: 19424

Re: High Income Earner Humbly Seeks Advice

Backdoor- after speaking with my accountant he also said it would be a hassle for little reward. His opinion. William Bernstein once said "If you've won the game, stop playing." At your income level, the $5,500 for a backdoor Roth and $5k to a kid's Roth are a drop in a bucket. You might as well tr...
by tfb
Wed Apr 04, 2018 12:27 am
Forum: Personal Finance (Not Investing)
Topic: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-
Replies: 136
Views: 11333

Re: This-millennial-couple-is-saving-150000-a-year-and-plans-to-retire-by-2029-heres-how-they-

Don't get distracted by eating Chinese greens or taking the bus. If they didn't do all that they would still be saving $120,000 a year instead of $150,000 a year. The real drivers for the high savings are having in-demand skills commanding big paychecks and having in-demand properties generating Air...
by tfb
Tue Apr 03, 2018 9:35 am
Forum: Investing - Theory, News & General
Topic: Best longevity calculator?
Replies: 32
Views: 3237

Re: Best longevity calculator?

jefmafnl wrote:
Tue Apr 03, 2018 5:57 am
What is your favorite (most accurate :) ) longevity calculator on the Internet?
http://www.longevityillustrator.org/

From Society of Actuaries and American Academy of Actuaries, people who know this stuff.
by tfb
Tue Apr 03, 2018 9:28 am
Forum: Investing - Help with Personal Investments
Topic: Bond fund vs. CD
Replies: 26
Views: 3733

Re: Bond fund vs. CD

Things like this have been discussed in general, but I'd like to ask about a specific situation, namely the pros/cons of a 3-year brokerage CD yielding 2.5% and a short-term bond fund, with duration of 3 years, also yielding 2.5%, neglecting here that the former is FDIC insured. So with the former,...
by tfb
Fri Mar 30, 2018 12:40 am
Forum: Investing - Help with Personal Investments
Topic: Winding down a balanced fund in taxable
Replies: 5
Views: 843

Re: Winding down a balanced fund in taxable

A few years back, I put taxable assets into an actively managed 60/40 balanced fund. This seemed like a great idea at the time, and the balanced portfolio helped me sleep. But, having gone through all the boglehead videos, it seems like this was not best choice , because 1) it's not an index fund, ...
by tfb
Wed Mar 28, 2018 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: 403b Annual Additions Limit now per employer
Replies: 6
Views: 626

Re: 403b Annual Additions Limit now per employer

This has major implications for a 403b participant who also has a decent sized side business sponsoring a SEP IRA or solo K plan. Under the old interpretation there was a total limit of 55,000 over these plans which usually functioned to limit the contributions for the side business. The 403b limit...
by tfb
Sun Mar 25, 2018 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Deciphering my 401k Annual Report
Replies: 5
Views: 436

Re: Deciphering my 401k Annual Report

If the buyout happened during the year in question, the 3 previous partners still worked and should've received profit sharing. If all partners are older on average, the employer may have chosen an allocation method that benefited the partners disproportionately. It doesn't necessarily reflect your ...
by tfb
Sun Mar 25, 2018 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: Help! Possible to receive my bonus?
Replies: 29
Views: 3634

Re: Help! Possible to receive my bonus?

I accepted a new position (handshake deal in December, signed offer letter in March) but unfortunately have to start three weeks before my current employer's payout due to some specific circumstances that could not be altered. If your new employer wanted you to start sooner, which will cause you to...
by tfb
Sun Mar 25, 2018 5:08 pm
Forum: Personal Finance (Not Investing)
Topic: Non-Owner Car Insurance
Replies: 11
Views: 1163

Re: Non-Owner Car Insurance

Question: If you were to drive a borrowed (and insured) car from a friend or acquaintence - and were involved in a potential liability accident, which insurance would cover this first - your (non-owner) or the owner's? That's a great question. I'm not sure but I think the answer is that the non-own...
by tfb
Thu Mar 22, 2018 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: Power of attorney for a particular asset that supersedes power of attorney listed in will
Replies: 86
Views: 4066

Re: Power of attorney for a particular asset that supersedes power of attorney listed in will

During our annual meeting yesterday, he mentioned that Ameriprise now has a power of attorney form for my accounts with them that he thought would supersede any previous power of attorney documents I have in my will and asked whom I wished to name as my power of attorney. I think he's talking about...
by tfb
Mon Mar 19, 2018 10:58 pm
Forum: Personal Finance (Not Investing)
Topic: Can I Retire at 38?
Replies: 118
Views: 13149

Re: Can I Retire at 38?

Yes you can retire. The only question is what kind of lifestyle you want after you retire. Anybody can retire if they are willing to match their lifestyle to the amount of money that supports it.
by tfb
Mon Mar 19, 2018 10:49 pm
Forum: Investing - Theory, News & General
Topic: Parking Business Cash - WHERE?
Replies: 21
Views: 2820

Re: Parking Business Cash - WHERE?

Look into opening brokerage account (Fidelity/Schwab etc) for business which will increase number of options that you have. What options exactly? Not looking to buy into index funds, stocks or bonds. The primary goal is keeping principal while not eroding to inflation. So very little, if non-exista...
by tfb
Sun Mar 18, 2018 9:47 pm
Forum: Investing - Help with Personal Investments
Topic: Vanguard Personal Advisory Services Fees
Replies: 49
Views: 4693

Re: Vanguard Personal Advisory Services Fees

Schwab intelligent advisor is not a personal advisor but mostly robo investing with occasional discussion with financial planner. Its service that is similar to Vanguard PAS appears to be more expensive. Am I missing something? Schwab caps the fees at $3,600/year. For a $3 million account, Vanguard...
by tfb
Sun Mar 18, 2018 9:35 pm
Forum: Personal Finance (Not Investing)
Topic: Spoke to a financial advisor yesterday - what do you think he's up to?
Replies: 81
Views: 8747

Re: Spoke to a financial advisor yesterday - what do you think he's up to?

The problem with much of the discussion on this thread is that just yelling YOUR GETTING SCAMMED isn't very convincing. I can agree with it or disagree with it but you're not taking the time to engage me. The salesperson is very clever is transferring the burden of convincing to you. All of a sudde...
by tfb
Sun Mar 18, 2018 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: My 401ks Summary Plan Description leaves a lot out (Rolling-out what was rolled-in)
Replies: 1
Views: 226

Re: My 401ks Summary Plan Description leaves a lot out (Rolling-out what was rolled-in)

I want to do something unusual with my 401k, but it's really hard to know whether I'm doing it correctly, because they keep their information hidden - this stuff isn't in the Summary Plan Description. Can you give me some advice on how to be sure that I'm getting this right even though I can only g...
by tfb
Sun Mar 18, 2018 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Spoke to a financial advisor yesterday - what do you think he's up to?
Replies: 81
Views: 8747

Re: Spoke to a financial advisor yesterday - what do you think he's up to?

how would I have considered setting up a trust in the case that my son inherits over a million dollars due to our deaths? It just never would have occurred to me. This is quite rudimentary in estate planning. You would've discovered it if you thought of exploring what happens after you both die and...
by tfb
Wed Mar 14, 2018 12:05 am
Forum: Investing - Help with Personal Investments
Topic: Market Link CD
Replies: 5
Views: 730

Re: Market Link CD

I was pitched this by a financial planner. My first was red flag was when he said there is no risk. I told him, everything has some level of risk. I was just curious about it, I just wanted to learn a little more to be educated about how these products work, and I am already finding out some of the...
by tfb
Tue Mar 13, 2018 12:05 am
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 761

Re: Fix overcontribution to non-deductible portion Solo401k plan

DavidRoseMountain wrote:
Mon Mar 12, 2018 10:52 pm
Also, Harry did you do something new to the spreadsheet, because now it works exactly as Spirit Rider's math reveals.
I tried to make it calculate correctly, although I still can't guarantee it does for every case.
by tfb
Mon Mar 12, 2018 1:44 pm
Forum: Personal Finance (Not Investing)
Topic: Fix overcontribution to non-deductible portion Solo401k plan
Replies: 10
Views: 761

Re: Fix overcontribution to non-deductible portion Solo401k plan

Congratulations on catching this and a mea culpa is in order from tfb and myself for not catching this in your other thread. We were mistakenly fixated on the self-employed health insurance deduction. I have been cautious to recommend people "roll-their-own" one-participant 401k for the so-called M...
by tfb
Sat Mar 10, 2018 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: ESPP not reported on Box 1, but on Box 3 of W2.
Replies: 4
Views: 537

Re: ESPP not reported on Box 1, but on Box 3 of W2.

The weird thing is that the initial ESPP gains are reported on my W2 under Box 3 (Social Security Wages) and 5 (Medicare Wages) , but not on box 1. Do I need to make an adjustment via form 8949 to adjust the cost basis of $5079.90. Sounds like it should be the other way around: included in box 1 bu...
by tfb
Sat Mar 10, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: LLC is now a partnership. Looking for help with SEP IRA
Replies: 1
Views: 233

Re: LLC is now a partnership. Looking for help with SEP IRA

You need professional help on this. I just want to point out solo 401k and SEP cover owner-employees, not passive investors. So you need to distinguish income as a passive investor and income for actually working for the partnership.
by tfb
Fri Mar 09, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Funding an HSA (Fidelity)
Replies: 5
Views: 562

Re: Funding an HSA (Fidelity)

In either case, since the contribution limits can change AFTER the year starts (I believe this just happened a few days ago for one limit.), it sounds like there is no safe way to fund the plan. You can’t calculate a total amount and divide it out by paycheck so you are always in sync with the curr...
by tfb
Thu Mar 08, 2018 2:13 pm
Forum: Personal Finance (Not Investing)
Topic: Filed 2017 taxes electonically for FREE
Replies: 46
Views: 5072

Re: Filed 2017 taxes electonically for FREE

I was immediately disappointed when the free versions of the best known tax prep packages choked on the fact that I had small capital gains from two mutual fund sales. If you go through the IRS link you get a better version. I hear https://www.myfreetaxes.com is the H&R Block Premium edition which ...
by tfb
Thu Mar 08, 2018 10:29 am
Forum: Investing - Help with Personal Investments
Topic: Vanguard Target Date Funds
Replies: 25
Views: 2385

Re: Vanguard Target Date Funds

ANKLEDEEP wrote:
Thu Mar 08, 2018 2:39 am
I had a Edward Jones rep at a home and garden show this past weekend tell me he “hates them” tho he couldn’t give me a clear reason why.
Because they are so simple but he still can't beat them? I'd hate them too if I'm put into that position.