Search found 229 matches

by frugalmama
Wed May 16, 2018 11:51 pm
Forum: Personal Finance (Not Investing)
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 756
Views: 66163

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

For reference, the married filing jointly (MFJ) tax brackets in 2018: 10% $0 12% $19,050 22% $77,400 24% $165,000 32% $315,000 35% $400,000 37% $600,000 Plus, you have the $24k standard deduction, so the first $24k is tax free. Now, lets assume at 4% withdrawal rate. This means you can withdraw $24...
by frugalmama
Wed May 16, 2018 1:58 pm
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 12792

Re: On the topic of Saving vs Savings

Bogleheads: We seem to be getting tripped up on a semantic point: not all saving results in an increase in savings . In fact they even have different units, as expected befitting their different parts of speech. Savings is a stock, an accumulated surplus of wealth. Saving is a rate, a flow, of exce...
by frugalmama
Wed May 16, 2018 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off Debt vs. Investing
Replies: 25
Views: 2526

Re: Paying off Debt vs. Investing

I think you are mixing different questions, modifying variables without realizing it, and that's causing confusion. If you don't start investing any of the additional money after the loan is paid off, then you can simply remove the loan from the equation for your investment return. At that point, y...
by frugalmama
Wed May 16, 2018 10:23 am
Forum: Personal Finance (Not Investing)
Topic: IRS refund different than amount on tax refund
Replies: 3
Views: 524

Re: IRS refund different than amount on tax refund

Thank you. I suspected they would.
by frugalmama
Wed May 16, 2018 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 12792

Re: Can a <median household save 1 year of expenses every year?

I think so, but for me it takes some creative math. THe principal on my mortgage was considered savings, as is social security, as is my solar panels on my house, as is 401k, Roth IRA, hsa, as was extra mortgage payments. I also Co side charitable donations as savings. I think the poster might be f...
by frugalmama
Wed May 16, 2018 9:36 am
Forum: Personal Finance (Not Investing)
Topic: IRS refund different than amount on tax refund
Replies: 3
Views: 524

IRS refund different than amount on tax refund

I submitted my tax return via paper (but done online through the IRS's freefilefillable forms...so the system does the math, etc.). Just to explain, I submitted on paper as their system has a glitch with the # of dependents (I have more than their online system allows so it always kicks back the ret...
by frugalmama
Wed May 16, 2018 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 12792

Re: Can a <median household save 1 year of expenses every year?

$900 rent (2 bedroom apartment) Notable exceptions: > We do have a car, but we walk to work and could walk, bike or take public transit to get groceries, so I've excluded car maintenance, insurance and replacement from this. > I haven't accounted for state income tax, so I'm effectively assuming th...
by frugalmama
Tue May 15, 2018 3:02 pm
Forum: US Chapters
Topic: How did you fall in love with investing?
Replies: 49
Views: 4798

Re: How did you fall in love with investing?

I've always been a saver. I saved every penny and remember my first trip to the bank to open a bank account. One day I told my dad how much I had in my savings account and he sort of freaked out...I didn't know about stocks/bonds, etc. and had way too much in my bank account at that point as I'd bee...
by frugalmama
Tue May 15, 2018 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 12792

Re: Can a <median household save 1 year of expenses every year?

$900 rent (2 bedroom apartment) Notable exceptions: > We do have a car, but we walk to work and could walk, bike or take public transit to get groceries, so I've excluded car maintenance, insurance and replacement from this. > I haven't accounted for state income tax, so I'm effectively assuming th...
by frugalmama
Tue May 15, 2018 11:02 am
Forum: Personal Consumer Issues
Topic: Travel trailers RVs etc
Replies: 14
Views: 2320

Re: Travel trailers RVs etc

Until you do it, I think it will still continue to nag at you. We aren't anywhere near retired, but we go on extended monthly trips and I think you've received some great advice on here. We have a 29 foot trailer (we have a large family so if it was just DH and I, we'd do something smaller). However...
by frugalmama
Tue May 15, 2018 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Can a <median household save 1 year of expenses every year?
Replies: 158
Views: 12792

Re: Can a <median household save 1 year of expenses every year?

We don't make less than 59...last year we came in about 10 more than that but we've come in that low as well before. We are a family of 12 so we are larger than average as well. I think we could do it if we didn't have as many kids as we have as we are currently on target to save between 20 to 25K t...
by frugalmama
Fri May 04, 2018 9:57 am
Forum: Personal Finance (Not Investing)
Topic: How old is too old for a vehicle, even for a well running one ?
Replies: 83
Views: 7295

Re: How old is too old for a vehicle, even for a well running one ?

The answer is variable. If your idea of maintenance is to drop the car at the dealer, then you probably need to cycle through newer cars more often. If you have a lift in your garage, a 220V stand up compressor bolted to the floor, a tire machine near the doors and most tools known to man and would...
by frugalmama
Wed Apr 11, 2018 8:35 am
Forum: Personal Investments
Topic: Emergency Fund Investing
Replies: 24
Views: 2717

Re: Emergency Fund Investing

Tier 1 - 1 month in my regular bank account to pay bills off of
Tier 2 - 2 months higher interest bank account
Tier 3 - Roth

We have high job security so it would take something pretty catastrophic to need more than 3 months.
by frugalmama
Wed Apr 11, 2018 8:29 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4896
Views: 936510

Re: What's Your Credit Card Rewards Strategy?

Thanks for your time and getting back to me on this. I honestly had no idea what kind of rewards/money people were talking about or getting. To me that kind of reward/money simply wouldn't be worth my(and my wife's time). We don't consume or spend that much these days. 1-2K per year would simply no...
by frugalmama
Tue Apr 10, 2018 9:14 am
Forum: Personal Finance (Not Investing)
Topic: Cash flow problems - best way to handle?
Replies: 151
Views: 13716

Re: Cash flow problems - best way to handle?

It's just unbelievable how people don't read all the posts by OP before commenting... OP, I think you got screwed in your divorce settlement. I would definitely go back to court to revisit the 529 agreement. You already have a good chunk of change in there. It can certainly take a funding break for...
by frugalmama
Mon Apr 09, 2018 2:15 pm
Forum: Personal Finance (Not Investing)
Topic: Please suggest money market fund to park cash for a few months
Replies: 10
Views: 1664

Re: Please suggest money market fund to park cash for a few months

If your Vanguard account is a brokerage account, the Federal MMF will be the settlement account and the $3K minimum balance requirement is waived. I have one of these and it works this way. I would recommend it to the OP. I also use Smartypig.com (but their interest rates aren't as high as some oth...
by frugalmama
Sat Apr 07, 2018 1:26 pm
Forum: Investing - Theory, News & General
Topic: What is your AA, given your age? and, Why?
Replies: 284
Views: 37394

Re: What is your AA, given your age? and, Why?

I'm 41, wife is 43. Our allocation is 100% stocks : 0% bonds. We've stuck to that allocation since we started saving seriously in 2006. We plan to stick with it till we die. Our reasons for doing so: - Stocks will almost certainly outperform bonds by a huge margin over horizons longer than 30 years...
by frugalmama
Fri Apr 06, 2018 3:34 pm
Forum: Personal Consumer Issues
Topic: Want/need some income in semi-retirement
Replies: 90
Views: 9106

Re: Want/need some income in semi-retirement

Any Masters or Ph.D.s in the house? You could teach part-time at your local community college or commuter 4-year. Is this really possible? I have a PhD, but went straight to industry after graduating. Looking around, I haven't seen any possibilities for getting back in as any kind of faculty. Every...
by frugalmama
Wed Apr 04, 2018 2:59 pm
Forum: Personal Consumer Issues
Topic: Want/need some income in semi-retirement
Replies: 90
Views: 9106

Re: Want/need some income in semi-retirement

A sports referee working a few hours every day could make that much if they worked for multiple clubs/did high school etc and worked year round...or you could pair it with another low-stress job. I'm not sure how physically fit you are, but many retirees I know take on that job to stay physically ac...
by frugalmama
Wed Apr 04, 2018 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4896
Views: 936510

Re: What's Your Credit Card Rewards Strategy?

We use credit cards for absolutely everything that we can. We pay our monthly balances in full. We have quite a few cards (some we keep open due to longevity or in case something goes wrong with our other cards when out of the country) but we currently use: Sams Club Credit Card for 5% cash back ga...
by frugalmama
Tue Apr 03, 2018 9:11 am
Forum: Personal Finance (Not Investing)
Topic: What's Your Credit Card Rewards Strategy?
Replies: 4896
Views: 936510

Re: What's Your Credit Card Rewards Strategy?

We use credit cards for absolutely everything that we can. We pay our monthly balances in full. We have quite a few cards (some we keep open due to longevity or in case something goes wrong with our other cards when out of the country) but we currently use: Sams Club Credit Card for 5% cash back gas...
by frugalmama
Thu Mar 29, 2018 8:24 am
Forum: Personal Finance (Not Investing)
Topic: taxes: e-file vs. paper
Replies: 52
Views: 5983

Re: taxes: e-file vs. paper

There are particular instances when the IRS program (free fillable forms) for e-filing doesn't work right as it can't handle your situation and it won't generate another form for you - i.e. too many dependents is one for sure. If you fall in one of those situations, paper is better as your return wi...
by frugalmama
Fri Mar 23, 2018 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Losing friends/family when wealthy
Replies: 118
Views: 13483

Re: Losing friends/family when wealthy

While most of our peers were traveling and living it up, we lived with parents rent free. in For most of my life, people have perceived me and my family as the least wealthy and least successful. I was viewed by most of my family members as the one least likely to be successful. For most of my life...
by frugalmama
Thu Mar 22, 2018 2:56 pm
Forum: Personal Finance (Not Investing)
Topic: Bought house six months ago - now feeling like we're treading water and can't save money
Replies: 189
Views: 20926

Re: Bought house six months ago - now feeling like we're treading water and can't save money

I think you are doing really well and should be proud of where you are. I just have 2 comments as you've received some great advice. I second the idea of YNAB (You Need a Budget). It has given me a lot of piece of mind. I have been using it since shortly after its inception and I feel I have a much ...
by frugalmama
Thu Mar 22, 2018 1:20 pm
Forum: Personal Finance (Not Investing)
Topic: What Budget? Do you keep one?
Replies: 116
Views: 10661

Re: What Budget? Do you keep one?

We use YNAB as well. I didn't start seriously budgeting until my DH decided to switch careers and our income was cut to be only a fraction of what it was. We do a lot on actually very little, but in order to do so much, we really do have to plan for every penny. When I didn't keep a budget, we spent...
by frugalmama
Wed Mar 21, 2018 5:46 pm
Forum: Personal Finance (Not Investing)
Topic: Transition to part time or take time off each summer
Replies: 8
Views: 1079

Re: Transition to part time or take time off each summer

If you work in jobs where it's possible to take months off, then......wow. I've worked quite a few jobs where even asking for 2 weeks off was seen as almost the same thing as asking to resign. Not sure what kind of jobs allow this. Not too many. Referees for sports where you follow a season (no ben...
by frugalmama
Wed Mar 21, 2018 10:10 am
Forum: Personal Finance (Not Investing)
Topic: Transition to part time or take time off each summer
Replies: 8
Views: 1079

Re: Transition to part time or take time off each summer

We are a younger by about 4 years, have a lot more kids (10) a little less in assets and a little less in expenses. We did something very similar...My husband left his high paying job to take his dream job where he gets all his summers off and holidays with the kids and we wouldn't change it for the...
by frugalmama
Tue Mar 20, 2018 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Those with high savings rate: why?
Replies: 249
Views: 41548

Re: Those with high savings rate: why?

When I was young (16), it was because I loved investing and didn't have anything else I wanted to buy. When I was in my early 20s, it was because I was concerned about what the future held as my husband and I had stressful jobs. He wanted to be self employed and was able to take the jump because of ...