Search found 46 matches

by PartIrish
Thu Feb 28, 2019 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Does it take a 3rd party to help with student loan forgiveness?
Replies: 8
Views: 538

Re: Does it take a 3rd party to help with student loan forgiveness?

Unfortunately the student loan forgiveness program has an abysmal record of actually helping borrowers. Please see this article, and many others out there available by search, about this issue: https://www.forbes.com/sites/zackfriedman/2018/09/24/public-service-loan-forgiveness-rejected/#6a0f5a1b182...
by PartIrish
Sat Feb 16, 2019 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Budgeting - What Do You Spend?
Replies: 46
Views: 5008

Re: Retirement Budgeting - What Do You Spend?

DH retired and I will follow at the end of 2019. Based on tracking over the past year or two, it looks like our fixed expenses will be around $4000-$4500/month, with another $2000-$2500/month in discretionary spending. One variable is whether we retain two residences (DH wants to and I do not, so st...
by PartIrish
Thu Feb 14, 2019 11:39 am
Forum: Personal Finance (Not Investing)
Topic: Student Loan Repayment Puzzle
Replies: 22
Views: 1481

Re: Student Loan Repayment Puzzle

That's an interesting but maybe weird take. While strictly true, I just don't think it's a relevant way to assess the situation. There are more dollars in the big loans, and thus more interest overall, but the interest rates tell you which dollars are more expensive, and that's clearly the ones wit...
by PartIrish
Wed Feb 13, 2019 11:55 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Repayment Puzzle
Replies: 22
Views: 1481

Re: Student Loan Repayment Puzzle

Interesting input here. To clarify, son has been vigorously paying down these loans since graduating last year; he has already paid down about $11K from the starting balance by throwing every bit of extra income/graduation gift money possible at them. He created an elaborate spreadsheet for each loa...
by PartIrish
Wed Feb 13, 2019 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Student Loan Repayment Puzzle
Replies: 22
Views: 1481

Student Loan Repayment Puzzle

I'm having an interesting discussion with my son regarding his graduate student loans, and his repayment approach. We have a difference of opinion about the amounts to apply to each loan and order of loan payoff to optimize the funds he applies to repayment. He agreed to weigh input from the knowled...
by PartIrish
Thu Jan 31, 2019 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: Health - Knowledge - Wealth
Replies: 6
Views: 665

Re: Health - Knowledge - Wealth

"The first wealth is health."

--Ralph Waldo Emerson
by PartIrish
Mon Jan 28, 2019 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Public Pension vs. SS
Replies: 8
Views: 1036

Re: Public Pension vs. SS

Your friend is likely affected by the Government Pension Offset (GPO). The link below provides more information:

https://www.ssa.gov/planners/retire/gpo.html
by PartIrish
Fri Jan 25, 2019 8:24 pm
Forum: US Chapters
Topic: Happy Birthday, Taylor!
Replies: 76
Views: 3828

Re: Happy Birthday, Taylor!

Happy birthday, Taylor, and thank you for providing sage advice to so many people, and with such kindness. I raise a glass to your health! :beer
by PartIrish
Mon Dec 03, 2018 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement logistics (help with timing)
Replies: 5
Views: 740

Re: Retirement logistics (help with timing)

Your mom may want to check whether her Calpers employment withheld social security. If it did not, she will be subject to the Windfall Eliminations Provision (WEP): https://www.calpers.ca.gov/page/active-members/retirement-benefits/service-disability-retirement/social-security-and-your-pension The W...
by PartIrish
Sun Sep 30, 2018 2:12 pm
Forum: Personal Finance (Not Investing)
Topic: Help me with avoiding liability for personal injury on our property
Replies: 23
Views: 1991

Re: Help me with avoiding liability for personal injury on our property

Proactively and actionably. 1. Umbrella policy in addition to your homeowners policy. 2. Ascertain who owns the retaining wall. 3. If you own the retaining wall, take measures so that it cannot be walked on with the following options amongst many: a. Mix concrete and make the top surface of the wal...
by PartIrish
Sun Sep 16, 2018 10:20 pm
Forum: Personal Finance (Not Investing)
Topic: Pension question - 65% J&S vs Single plus term insurance
Replies: 6
Views: 672

Re: Pension question - 65% J&S vs Single plus term insurance

Similar circumstances, but my spouse is 5 years older, and I was deciding between 100% or 67% pension survivor options. Did a spreadsheet and a 20-year term insurance policy (taking DH to age 82), plus the 67% survivor option for the pension came out ahead of the 100% J&S option by several hundred ...
by PartIrish
Sun Sep 16, 2018 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Pension question - 65% J&S vs Single plus term insurance
Replies: 6
Views: 672

Re: Pension question - 65% J&S vs Single plus term insurance

Similar circumstances, but my spouse is 5 years older, and I was deciding between 100% or 67% pension survivor options. Did a spreadsheet and a 20-year term insurance policy (taking DH to age 82), plus the 67% survivor option for the pension came out ahead of the 100% J&S option by several hundred d...
by PartIrish
Sun Sep 16, 2018 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: Considering Quitting Job - Seeking Advice. Would you do it?
Replies: 157
Views: 13718

Re: Considering Quitting Job - Seeking Advice. Would you do it?

RW73, The biggest risk your family faces is your wife having to raise your special needs children without you. Parenting children with special needs is exhausting, and if your work stress kills or disables you early, your family will suffer for decades. The resources you have accumulated are by magn...
by PartIrish
Wed Aug 22, 2018 10:56 pm
Forum: Personal Finance (Not Investing)
Topic: Job Application Advice for Non-Profit
Replies: 7
Views: 664

Re: Job Application Advice for Non-Profit

I've been in non-profit management now for more than 7 years. In my opinion, the single best attribute in applying for a position is a passion for the particular work of the non-profit. Research the non-profits' websites (and Form 990s as another poster suggested). Look for non-profits whose mission...
by PartIrish
Sun Jul 29, 2018 7:52 pm
Forum: Personal Finance (Not Investing)
Topic: Soc Sec benefit estimates: Anyone get a nasty surprise when filing?
Replies: 61
Views: 8271

Re: Soc Sec benefit estimates: Anyone get a nasty surprise when filing?

My DH filed this year at 66 and his benefit was precisely what his online SS account had been showing. The year before he claimed benefits, I ran a spreadsheet calculation using his actual (indexed) earnings, and the amount was within a few dollars of his actual benefit. I have a few years to go for...
by PartIrish
Tue Jul 10, 2018 5:39 pm
Forum: Personal Finance (Not Investing)
Topic: Retired, age 60 - Tax Plan. Please suggest improvements.
Replies: 30
Views: 3378

Re: Retired, age 60 - Tax Plan. Please suggest improvements.

MarkVHO518, Won't your plan for taking Social Security spousal benefits at 62 and then your own at 70 fall under the 2016 "deemed filing" rule? https://www.ssa.gov/planners/retire/claiming.html I am 61 and though my spouse is 66, under the new rules I cannot file for spousal benefits early and allow...
by PartIrish
Fri Jul 06, 2018 11:52 am
Forum: Personal Finance (Not Investing)
Topic: What I spent in 6 months on medicare
Replies: 179
Views: 17549

Re: What I spent in 6 months on medicare

....Except for the out-of-pocket costs, your total seems quite reasonable....... questions: Were your out of pocket costs because you do not have a supplemental plan to cover them?..... The clue here is the $30 a month dm200 pays - He is with a Medicare Advantage plan - not traditional Medicare wit...
by PartIrish
Thu Jul 05, 2018 8:21 pm
Forum: Personal Finance (Not Investing)
Topic: What I spent in 6 months on medicare
Replies: 179
Views: 17549

Re: What I spent in 6 months on medicare

dm200, Except for the out-of-pocket costs, your total seems quite reasonable to me. I am 61 and buy insurance through my state retirement plan (retired educator). My 2018 total cost of premiums is $9540, and that is with a small subsidy on premiums that all state retirees receive in my state. Other ...
by PartIrish
Tue Jun 19, 2018 8:41 pm
Forum: Investing - Theory, News & General
Topic: Our interview with Taylor Larimore
Replies: 17
Views: 4539

Re: Our interview with Taylor Larimore

Taylor Larimore has been a real inspiration to me on the financial planning side of life, but more important, he is a true gentleman online. Thank you, Taylor, for your extraordinary contributions to the well-being of others!
by PartIrish
Thu Mar 29, 2018 6:09 pm
Forum: Personal Finance (Not Investing)
Topic: Letter to your beneficiaries / heirs "In case I croak"
Replies: 11
Views: 1349

Re: Letter to your beneficiaries / heirs "In case I croak"

In 2016, I was inspired by just such a letter I read about in the NY TImes: https://www.nytimes.com/2016/06/18/your-money/the-money-letter-that-every-parent-should-write.html Within the article is a link to the actual letter someone wrote to their children. As a result, I wrote my own version to my ...
by PartIrish
Mon Mar 19, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Rent in Retirement
Replies: 35
Views: 4204

Re: Rent in Retirement

One factor not yet mentioned is that if you decide to rent in retirement, you may be forced to move multiple times. We own several rentals, and as the local property values rise, they reach a point where it makes more financial sense for us to sell. (Just completing one of those this month in Seattl...
by PartIrish
Wed Mar 07, 2018 3:37 pm
Forum: Personal Investments
Topic: I want to retire
Replies: 28
Views: 5421

Re: I want to retire

Please double check to make sure that your anticipated SS payments are correct. When you look them up online for your account they are listed as if you will be working until the last day before you claim - there is another calculator at the SS.gov site that allows you to use your historical SS dedu...
by PartIrish
Thu Jan 25, 2018 4:49 pm
Forum: US Chapters
Topic: Happy Birthday, Taylor!
Replies: 84
Views: 6304

Re: Happy Birthday, Taylor!

Happy Birthday, Taylor. I have not had the pleasure of meeting you in person, but your wise counsel has made a substantial difference in my life and countless others. Thank you, too, for being a continual model of decorum online.

All the best to you on your special day, and Cheers! :sharebeer
by PartIrish
Sun Nov 19, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security survival benefits
Replies: 1
Views: 398

Re: Social Security survival benefits

This is from the SSA site: https://www.ssa.gov/planners/survivors/onyourown5.html#other "If your widow, widower or surviving divorced spouse remarries before they reach age 60 (age 50 if disabled), they cannot receive benefits as a surviving spouse while they're married. If your widow, widower or su...
by PartIrish
Sat Oct 28, 2017 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Selecting pension payout option
Replies: 15
Views: 1793

Re: Selecting pension payout option

Based on my own experience, it will depend on the cost of a term policy when you reach 65. If you buy that policy now at lower rates it may not last long enough to be of use, and if you wait until 65, the premiums will be higher. I retired from my state pension-based job at age 56 and had to choose ...
by PartIrish
Thu Oct 12, 2017 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Career Options after Marketing
Replies: 6
Views: 941

Re: Career Options after Marketing

Has he thought about development work for universities? Colleges are always looking for people who can connect with alumni and their greater local communities to bring money back into the educational system. It requires a lot of contact with people, and an ability to convey the exciting things happe...
by PartIrish
Thu Sep 14, 2017 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Questions about home purchase in a 55+ community?
Replies: 26
Views: 3143

Re: Questions about home purchase in a 55+ community?

Van-Guard 23, One thing to consider in making such a large investment is in the event you decide this is not the right place for you, all of the concerns you voice now as a buyer will become your obstacles once you are a seller. In addition, a 55+ community restricts your pool of potential buyers at...
by PartIrish
Tue Sep 12, 2017 4:13 pm
Forum: Personal Finance (Not Investing)
Topic: Relocate for Early Retirement?
Replies: 41
Views: 4753

Re: Relocate for Early Retirement?

Frugal Professor, We currently live in the Southwest, but have purchased several properties in Bellingham since 2003 and plan to move into one of them once I retire in a couple of years. Last summer we sold one house and bought another into which we expect to move. We're renting it right now to a si...
by PartIrish
Thu Aug 17, 2017 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Percent of retirement expenses from fixed sources?
Replies: 16
Views: 1608

Re: Percent of retirement income from fixed sources?

We will have 4 income streams in the "fixed" category: 1 state retirement pension, 2 social security pensions, and 1 rental that we will keep after selling off three other properties by retirement. Totaled, the four fixed income streams will bring in between $76K - $80K, depending on when we start t...
by PartIrish
Thu Aug 17, 2017 2:08 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Survivor Benefit or Life Insurance -teenage daughter
Replies: 25
Views: 2607

Re: Pension Survivor Benefit or Life Insurance -teenage daughter

"In CalSTRS, the survivor cannot be more than 19 years younger than the employee. Double check that there isn't a similar restriction in your system." Good catch, anonenigma, I missed that, as my designated survivor is older than me. In my state, you can elect up to a 50 percent survivor benefit wit...
by PartIrish
Thu Aug 17, 2017 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Pension Survivor Benefit or Life Insurance -teenage daughter
Replies: 25
Views: 2607

Re: Pension Survivor Benefit or Life Insurance -teenage daughter

Sheriffwoody, I faced a similar dilemma a few years ago when I retired from a PERS at age 56, although in my case the survivor beneficiary was my spouse, who is 5 years older than me, and my pension amount was more modest. My choices were a 66 2/3 percent survivor benefit for my DH in exchange for a...
by PartIrish
Mon Aug 07, 2017 9:20 pm
Forum: Personal Finance (Not Investing)
Topic: How do you deal with financial anxiety?
Replies: 40
Views: 4141

Re: How do you deal with financial anxiety?

ThankYouJack, I quite understand your post and agree that this forum, which has enriched me beyond measure with financial wisdom, is also something of a siren call to my obsession over financial planning. I, too grew up in an financially-challenged household, which was formative in developing a life...
by PartIrish
Thu Aug 03, 2017 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 790
Views: 107096

Re: A poll: How much money do you want to retire?

I'm 60, DH is 65 and about to retire, while I will keep working 2-3 more years. The previously divergent "Need" and "Want" sizes for our portfolio are beginning to converge into "pretty much enough." Not counting social security, pension income and income from the final rental we will retain once th...
by PartIrish
Thu Jul 20, 2017 2:17 pm
Forum: Personal Finance (Not Investing)
Topic: Why has anyone not capitalized on this?
Replies: 10
Views: 2671

Re: Why has anyone not capitalized on this?

KeepCalm, Personal Finance education is required in 45 states, and is part of the state standards in all 50 states. There are dozens of resources for teachers online, including the Jumpstart Coalition, the Council for Economic Education, Econedlink, and most of the 12 Federal Reserve Banks have free...
by PartIrish
Wed May 31, 2017 6:49 pm
Forum: Personal Investments
Topic: ? help on taking ss at 62
Replies: 15
Views: 2199

Re: ? help on taking ss at 62

luberhill, what happens to your wife's pension if she dies before you? I have a pension which, if I die first, will pay out 67 percent to my DH during his life. Choosing a survivor benefit option will decrease the pension payout. In our case, choosing the 100 percent survivor benefit would have caus...
by PartIrish
Thu May 25, 2017 2:33 pm
Forum: Personal Investments
Topic: What to do with divorce settlement
Replies: 31
Views: 6821

Re: What to do with divorce settlement

If your mom has spent her entire working career within the Mass. public education system, she has been exempt from Social Security (see: http://www.mass.gov/mtrs/benefit-recipients-retirees-and-survivors/social-security/) and thus will not be entitled to SS benefits due to the Windfall Elimination P...
by PartIrish
Mon May 01, 2017 8:17 pm
Forum: Personal Investments
Topic: If you had 30,000 dollars to invest in your future, how would you do it?
Replies: 49
Views: 7339

Re: If you had 30,000 dollars to invest in your future, how would you do it?

Education, hands down. It will bring you a higher salary throughout your life, more interesting work, and no one can take it away from you. In economic downturns, those with more education always have a lower unemployment rate than those with less. You sound like a hard worker who is careful with yo...
by PartIrish
Tue Feb 14, 2017 6:02 pm
Forum: Personal Finance (Not Investing)
Topic: Kids in Apartment Sharing Bedroom - Workable?
Replies: 55
Views: 4909

Re: Kids in Apartment Sharing Bedroom - Workable?

Growing up, I shared a room with my sister, but only until she left for college . . .

Frankly, we both ended up developing well-honed negotiating skills that have served us remarkably well throughout our lives.
by PartIrish
Tue Feb 07, 2017 5:37 pm
Forum: Personal Finance (Not Investing)
Topic: How Much House Can I Afford?
Replies: 19
Views: 3737

Re: How Much House Can I Afford?

Two thoughts: 1. An important but unknown variable is where your husband will eventually be working. The house you have your eye on may end up being inconvenient to his eventual job location. That argues for waiting until he is employed to buy a place. 2. Keep in mind that the very issue that gives ...
by PartIrish
Mon Feb 06, 2017 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Two Years to Retirement – Please review and comment [1 year update]
Replies: 64
Views: 11853

Re: Two Years to Retirement – Please review and comment

With respect to your expected SS benefit, I have done several SS spreadsheets in addition to using the anypia tool from the Social Security website. One important factor to keep in mind is that your expected SS benefit assumes you will continue to earn the same annual income until FRA (or even to 68...
by PartIrish
Mon Dec 19, 2016 1:38 pm
Forum: Personal Consumer Issues
Topic: Flying with Norwegian
Replies: 24
Views: 3086

Re: Flying with Norwegian

Our son flew LA => London via Norwegian last year on the ultra cheap fare, and once airborne, he realized there was no food or beverage service at that rate--not even a bottle of water. As our DS is extremely tight with his money, he went without either for the 10-11 hour flight--not a great idea on...
by PartIrish
Sat Nov 19, 2016 11:09 pm
Forum: Personal Finance (Not Investing)
Topic: Would you buy a house for your college kid?
Replies: 46
Views: 5378

Re: Would you buy a house for your college kid?

In 2012, at the bottom of the post-crash housing market in southern CA, we faced the same question. Our son was a sophomore undergrad, and we purchased a short sale condo, 2 Bd, 2 Ba for $175K near his campus. He has lived in it, some years with paying roommates and others without, for the past 4.5 ...
by PartIrish
Wed Aug 10, 2016 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: College major...medical
Replies: 26
Views: 3293

Re: College major...medical

My son is currently in a Doctor of Physical Therapy program at a state university. Admission is difficult--for his program, there were over 900 applications for 32 available spots (of course, more than 32 applicants get offers as some choose another program, but the acceptance rate is still low). Th...
by PartIrish
Thu Jun 30, 2016 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: How is "in-state" determined?
Replies: 12
Views: 1094

Re: How is "in-state" determined?

For our two children, who went to college in two different states where we owned property but were not living, the residency standard for both universities which they attended was the state in which their parents (us) file their state income taxes. Unfortunately that kept us paying non-resident tuit...
by PartIrish
Wed Jul 29, 2015 5:25 pm
Forum: Personal Finance (Not Investing)
Topic: When the rubber hits the road [Progressive Dementia thread with merged updates]
Replies: 108
Views: 10146

Re: When the rubber his the road - an update

I am sorry to hear of the health challenges you are facing, and wish you the best going forward. There is some promising news on the horizon, which came out of the recent annual conference on Alzheimer's that took place last week. [Medical news and links related to the Alzheimer's conference removed...
by PartIrish
Sun Apr 05, 2015 12:29 am
Forum: Personal Finance (Not Investing)
Topic: Buy a condo for college student or rent?
Replies: 34
Views: 5289

Re: Buy a condo for college student or rent?

Having done this, I think it depends on what the market looks like at a given point in time, the area vacancy rate, and the length of time you expect to use it. You have already addressed the last question; what about the other two? In 2012, we purchased a short sale 2 bd/ 2 ba condo for $175K (paid...