Search found 195 matches

by Scotttheking
Tue Dec 04, 2018 12:00 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Price vs. Gross Income
Replies: 59
Views: 4286

Re: Home Purchase Price vs. Gross Income

First house was and is 3.25
by Scotttheking
Mon Dec 03, 2018 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement itch- when did you get it?
Replies: 120
Views: 10851

Re: Retirement itch- when did you get it?

Sometime in my 20s. Was going for 35, but having a kid derailed that. Now shooting for 40.
by Scotttheking
Sun Dec 02, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1405

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 3. You’ll need to buy a workers comp policy. Is the workers comp because she is full time? Workers comp insurance is based on if they are your employee, not number of hours worked. It is not required in every state, but if always a good idea....
by Scotttheking
Sat Dec 01, 2018 10:09 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1405

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 3. You’ll need to buy a workers comp policy. Is the workers comp because she is full time? Workers comp insurance is based on if they are your employee, not number of hours worked. It is not required in every state, but if always a good idea.
by Scotttheking
Sat Dec 01, 2018 10:08 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1405

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 1. No deduction for nanny wages. Can use dependent care FSA for a little bit. 2. No benefit to hours above/below 40, but you do pay time and a half over 40 hours. 3. You’ll need to buy a workers comp policy. We use a payroll service, they han...
by Scotttheking
Sat Dec 01, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Hiring a Nanny
Replies: 13
Views: 1405

Re: Hiring a Nanny

I have a full time nanny, happy to answer any questions. 1. No deduction for nanny wages. Can use dependent care FSA for a little bit. 2. No benefit to hours above/below 40, but you do pay time and a half over 40 hours. 3. You’ll need to buy a workers comp policy. We use a payroll service, they hand...
by Scotttheking
Thu Oct 18, 2018 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Depositing Cash if it was gifted?
Replies: 113
Views: 6977

Re: Depositing Cash if it was gifted?

Grt2bOutdoors wrote:
Thu Oct 18, 2018 9:32 pm
Btw, the Secret Service is a branch of the Treasury department.
Until 2003. Now it is department of homeland security.
by Scotttheking
Sun Aug 05, 2018 11:04 am
Forum: Personal Finance (Not Investing)
Topic: Earn 1.5% on your checking account without the usual hoops (at Fidelity)
Replies: 65
Views: 8404

Re: Earn 1.5% on your checking account without the usual hoops (at Fidelity)

Open a second brokerage account. I have 2, one for stocks, one holding my cash supply in money markets. The second is linked to cma for overdrafts.
by Scotttheking
Fri Jul 27, 2018 7:00 pm
Forum: Investing - Theory, News & General
Topic: Vanguard vs Fidelity representatives
Replies: 15
Views: 2183

Re: Vanguard vs Fidelity representatives

My wife recently decided to transfer her Roth IRA account from Fidelity to Vanguard. Since she has a Vanguard Roth IRA mutual fund account, she tried to do the transfer via the internet. Transfers via the internet required establishing a new brokerage account which she did not want to do. Consequen...
by Scotttheking
Sun Jul 01, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: ? - Keep emergency credit cards for adult children - Good idea or bad?
Replies: 18
Views: 1798

Re: ? - Keep emergency credit cards for adult children - Good idea or bad?

No. Wife’s parents had her as an authorized user when she was in school and never took her off. It was an issue when it came up during our mortgage process with some problem and it was a scramble (and money) to get it removed and fixed. Also, if there’s really an emergency, we would pay and then get...
by Scotttheking
Sun Jun 17, 2018 8:59 pm
Forum: Personal Consumer Issues
Topic: Which Supermarket are you?
Replies: 155
Views: 9477

Re: Which Supermarket are you?

All my produce and much of my meat comes from my neighborhood farmers markets. I occasionally go to Whole Foods, Giant Food, and Safeway for things I can't get at the farmers markets. I like my food to be very fresh, and pesticide free. I like my meat and eggs to come from pastured animals. I disli...
by Scotttheking
Sun Jun 10, 2018 6:38 am
Forum: Investing - Help with Personal Investments
Topic: Personal Advice for Retirement by 35?
Replies: 11
Views: 1747

Re: Personal Advice for Retirement by 35?

How much do you spend each year?
by Scotttheking
Mon May 07, 2018 12:20 pm
Forum: Personal Finance (Not Investing)
Topic: 529 5 year funding question
Replies: 3
Views: 846

Re: 529 5 year funding question

Perfect, thanks.
Goal is to contribute enough annually for the state tax deduction, while using the 5 year rule to a second 529 with lower fees. I don't want to 5 year load the state one due to recapture rules and potential of relocation.
by Scotttheking
Sun Apr 29, 2018 10:10 pm
Forum: Personal Finance (Not Investing)
Topic: 529 5 year funding question
Replies: 3
Views: 846

529 5 year funding question

I'm pretty sure the answer is this is fine, but confirming:
Can one put an amount, hypothetically $50k, into a 529 using the 5 year rule, while continuing to put another amount, $5k per year, into a different 529 plan in order to capture a tax benefit?

Thanks,

Scott
by Scotttheking
Fri Apr 20, 2018 11:46 am
Forum: Investing - Theory, News & General
Topic: Upper Tax Bracket Folks...where to park cash?
Replies: 11
Views: 2242

Re: Upper Tax Bracket Folks...where to park cash?

I’m using vanguard’s muni money market fund.
by Scotttheking
Tue Apr 17, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: [Ally online savings now at 1.80%]
Replies: 246
Views: 42701

Re: Ally online savings now at 1.45%

I guess they are going to lag for a while. Vanguard Muni Money Market SEC yield is 1.48%. It's an easy decision to go for tax free yield over the same taxable yield. Is this a free lunch compared to VMMXX even for those in the 22% federal tax bracket? 1.48%/0.78 = 1.89% vs VMMXX's current 1.78% yie...
by Scotttheking
Tue Apr 17, 2018 6:14 am
Forum: Personal Finance (Not Investing)
Topic: [Ally online savings now at 1.80%]
Replies: 246
Views: 42701

Re: Ally online savings now at 1.45%

I guess they are going to lag for a while.
Vanguard Muni Money Market SEC yield is 1.48%. It's an easy decision to go for tax free yield over the same taxable yield.
by Scotttheking
Mon Mar 12, 2018 6:50 pm
Forum: Personal Finance (Not Investing)
Topic: Registration/titling of an IRA that is "second-generation"
Replies: 25
Views: 1375

Re: Registration/titling of an IRA that is "second-generation"

Thank you for clarification andy to be specific my brother turned 71 on July 13th. But again I am asking for clarity. . . it was a ROTH. . . not a traditional IRA. Why would he be obligated to have taken an RMD in the year he turned 71? Non-spouse beneficiaries of a Roth are subject to RMD. Travelf...
by Scotttheking
Tue Jan 02, 2018 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Consolidate to Single Financial Institution?
Replies: 30
Views: 3022

Re: Consolidate to Single Financial Institution?

I would ask the OP: "What does it mean for an institution to roll out the red carpet?". I'm a Fidelity private client. This means that whenever I call, they ask if I'd like to speak with my specific private client manager, which I always say "no" because I have no desire to go right to voicemail. I...
by Scotttheking
Sun Aug 13, 2017 7:05 am
Forum: Investing - Help with Personal Investments
Topic: DC 529 Plan vs other states'
Replies: 17
Views: 1986

Re: DC 529 Plan vs other states'

Simplified. ... Since you are living in D.C., open D.C. 529 plan. Once you move, open a 529 plan in new location if you get a tax benefit, otherwise find lowest cost plan offered. For simplicity, roll D.C. 529 into new plan if cost are lower. When going to school, use any and all 529 funds to pay fo...
by Scotttheking
Sun Jul 30, 2017 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Those Of You In a HCOLA - What's Your Financial Plan
Replies: 68
Views: 8919

Re: Those Of You In a HCOLA - What's Your Financial Plan

Save the same % we could save in a LCOL area, and have a larger bucket as a result.
by Scotttheking
Sun Jul 30, 2017 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: How do you decide if you can afford something?
Replies: 63
Views: 5308

Re: How do you decide if you can afford something?

For purchases small enough to fit in normal cashflow, no issues, just a decision of either happiness gained or frustration relieved. For moderate purchases which require touching savings, I use a metric of additional months of work required. In other words, I don't consider the cost in dollars, but ...
by Scotttheking
Sun Jul 30, 2017 9:19 am
Forum: Personal Consumer Issues
Topic: Buying a house four months before a lease has expired
Replies: 18
Views: 1386

Re: Buying a house four months before a lease has expired

I did that. As you said, I considered it a cost of moving. Could have looked into getting out of the lease early, but it gave time to do some work and have it done before moving in without pressure.
by Scotttheking
Wed Jul 05, 2017 10:47 pm
Forum: Personal Finance (Not Investing)
Topic: Grandparent Contribution to 529
Replies: 19
Views: 2406

Re: Grandparent Contribution to 529

Contributions in excess of the annual exclusion(s) are still not subject to any gift tax unless and until the lifetime exclusion is exceeded. I don't understand the lifetime exclusion. Does this mean that I needed to have kept track of all previous gifts from my parents, or only those in excess of ...
by Scotttheking
Tue Jul 04, 2017 6:24 am
Forum: Investing - Theory, News & General
Topic: Vanguard Prime Money Market Fund (VMMXX) breaks 1.00 (% not $)
Replies: 236
Views: 45672

Re: Vanguard Prime Money Market Fund (VMMXX) breaks 1.00 (% not $)

I am in the Municipal Money Market. In my tax bracket it beats Ally's Savings acct at 1.15. I am not even bothering with the short-term tax-exempt fund anymore. For an extra 15bp, it isn't worth the interest rate risk. The money market has replaced my short term bond holding for the time being. It ...
by Scotttheking
Tue Jun 13, 2017 10:57 pm
Forum: Personal Consumer Issues
Topic: How many tech devices do you have?
Replies: 74
Views: 6513

Re: How many tech devices do you have?

30? Two of us.
by Scotttheking
Fri May 26, 2017 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3097
Views: 601849

Re: What's Your Credit Card Rewards Strategy?

Credit is a tool and it can be a valuable one under the right conditions. That said, what is the advantage of the new Amex card compared to the Fidelity Elan, other than the 20K bonus? are there any advantages? both pay 2% in all categories... One can get more than 1c of value per AMEX MR point by ...
by Scotttheking
Sun Mar 26, 2017 1:54 pm
Forum: Investing - Theory, News & General
Topic: What's your strategy for withdrawing funds in Retirement ?
Replies: 57
Views: 9044

Re: What's your strategy for withdrawing funds in Retirement ?

One of the great mysteries to me ar4e the Great Debates over Safe Withdrawal Rates (SWR). I put Safe Withdrawal Rates into Google and it came up with more than 15 million hits. One wonders how people managed to retire without knowing their "SWR." Mathematicians love numbers. Fortunately for them, t...
by Scotttheking
Sun Mar 19, 2017 9:12 am
Forum: Personal Finance (Not Investing)
Topic: At 66, how much is continued earned income helping my Social Security?
Replies: 13
Views: 2258

Re: At 66, how much is continued earned income helping my Social Security?

I don't know the answer to your question, but was disappointed to hear last year that the FICA income limit was going from $118,500 to $127,200. [OT comment removed by admin LadyGeek] It's indexed to average wages. See https://www.ssa.gov/policy/docs/policybriefs/pb2011-02.html for more information.
by Scotttheking
Tue Mar 07, 2017 7:13 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 3097
Views: 601849

Re: What's Your Credit Card Rewards Strategy?

Any thoughts on the best use of Thank you miles? Redemption on American airlines is going down from 1.6 to 1.33 on 7/23/17 but I am finding that it is an expensive redemption even at 1.6. Looking at RT air to Europe, it consumes almost 50k points RT PLUS about $600-700 in fees. I can find full pay ...
by Scotttheking
Thu Feb 09, 2017 6:44 pm
Forum: Investing - Theory, News & General
Topic: 30 yr TIPS Auction Feb 16: real yield 1.1%?
Replies: 40
Views: 5343

Re: 30 yr TIPS Auction Feb 16: real yield 1.1%?

Fidelity is estimating a 0.875 coupon.

Corrected a mistake to match with #Cruncher's post below.
by Scotttheking
Wed Feb 08, 2017 9:00 pm
Forum: Investing - Theory, News & General
Topic: 30 yr TIPS Auction Feb 16: real yield 1.1%?
Replies: 40
Views: 5343

Re: 30 yr TIPS Auction Feb 16: real yield 1.1%?

Lerner wrote:
Scotttheking wrote:Putting in usual annual buy.
I'm also planning to make my regular buy.

Could Scotttheking please elaborate on your schedule for purchasing TIPS?
Annual real dollar amount pegged to the 2010 TIPS inflation factor, bought each February.
by Scotttheking
Sun Feb 05, 2017 1:17 pm
Forum: Investing - Help with Personal Investments
Topic: Strategy for upcoming $3M windfall
Replies: 60
Views: 12006

Re: Strategy for upcoming $3M windfall

andreiz wrote:
Scotttheking wrote: Being an early employee this may not be relevant, but in case you weren't aware, last I heard they weren't accelerating vesting of options.
Correct, but vast majority (90%) of my options/RSUs are already vested.
Enjoy!

I didn't mention before, but I'm a user of your product.
by Scotttheking
Sun Feb 05, 2017 1:08 pm
Forum: Investing - Help with Personal Investments
Topic: Strategy for upcoming $3M windfall
Replies: 60
Views: 12006

Re: Strategy for upcoming $3M windfall

andreiz wrote:
Scotttheking wrote:AppD?
Good guess.
Being an early employee this may not be relevant, but in case you weren't aware, last I heard they weren't accelerating vesting of options.
by Scotttheking
Fri Jan 06, 2017 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Annual Vacation Budget
Replies: 320
Views: 33872

Re: Annual Vacation Budget

10-20k for two.
by Scotttheking
Thu Nov 24, 2016 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Just Learned about donor advise fund (DAF) and thinking of jumping in before year end.
Replies: 18
Views: 2836

Re: Just Learned about donor advise fund (DAF) and thinking of jumping in before year end.

You have already subtracted your personal exemptions and usual itemized deductions from your wages, right? Be sure you understand what you were told here about how to go about it. Yep AGI is 110K ded is 23k exemp is 12.5K = about 75k before these funds do their dividends and gains distributions. So...
by Scotttheking
Wed Nov 02, 2016 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: Payoff Mortgage or Save for College
Replies: 15
Views: 2805

Re: Payoff Mortgage or Save for College

If you choose to save for college, and even if not, look into refinance options. Any no fee option will save you money, and as mentioned above a 7 year arm is in the realm of possible.
by Scotttheking
Sun Sep 25, 2016 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: Can adult child gift money back to parent?
Replies: 31
Views: 7074

Re: Can adult child gift money back to parent?

This is really easy:

Step 1: Write check to child
Step 2: Send check to child
Step 3: Sign letter saying money was a gift
...
---------------
unrelated
...
Child decides to gift parent money/trip/something at some later date
by Scotttheking
Sun Aug 07, 2016 8:00 pm
Forum: Personal Finance (Not Investing)
Topic: Citigold minimum increasing to $200,000
Replies: 39
Views: 26058

Re: Citigold minimum increasing to $200,000

That depends on the definition of worth it. For myself, $100 off the Prestige card annual fee, 11,700 thank you points from banking activities, and a 15% bonus on earned thank you points with the Prestige card for parking an IRA with them is worth it. Do those perks still remain if someone drops ou...
by Scotttheking
Sun Aug 07, 2016 6:32 pm
Forum: Personal Finance (Not Investing)
Topic: Citigold minimum increasing to $200,000
Replies: 39
Views: 26058

Re: Citigold minimum increasing to $200,000

Citi pays fairly low interest rates. I wonder if this is part of a larger effort to shift their product focus away from retail banking. That's why I got out of Citibank. They kept trying to entice me to sign up for the Citigold package for the past year or more and wham now they've upped the requir...