Search found 490 matches

by mnnice
Mon Nov 18, 2019 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Retiree couple seeking pointers on relocation
Replies: 7
Views: 889

Re: Retiree couple seeking pointers on relocation

I’m with btenny unless you have already spent a ton of time in the area.
by mnnice
Sun Oct 20, 2019 3:59 pm
Forum: Personal Finance (Not Investing)
Topic: Help With Staying Above The ACA 138% Poverty Level
Replies: 7
Views: 1542

Re: Help With Staying Above The ACA 138% Poverty Level

Looking to 2020, without knowing the specifics don’t assume that the ACA plan is superior to Medicaid.
by mnnice
Fri Oct 18, 2019 9:44 pm
Forum: Investing - Theory, News & General
Topic: Pensions - Why Isn't Time In the Market a Part of the Formula?
Replies: 30
Views: 4247

Re: Pensions - Why Isn't Time In the Market a Part of the Formula?

Something I have wondered a long time. Consider the following scenario: I am a CalPERS member in my 20s on the 2% at 62 formula. If I work for 5 years at a $50k salary and become vested and leave, and I take my pension at 62, my $ will have been in the pension fund for 30+ years and I receive $5k p...
by mnnice
Mon Sep 30, 2019 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Travel Insurance - Chase Sapphire Reserve
Replies: 12
Views: 1379

Re: Travel Insurance - Chase Sapphire Reserve

We were eventually made whole when we had a large claim (had a 15 day journey in Costa Rica planned. Member of the party had an appendix removed just hours before be were supposed to leave. It was an enormous PITA and I think it was made difficult so that we would give up :annoyed We had Chase Sapph...
by mnnice
Fri Sep 27, 2019 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: White Coat Investor: How to Live on $350k (Income) in Hawaii
Replies: 68
Views: 7770

Re: White Coat Investor: How to Live on $350k (Income) in Hawaii

I am not sure where in Hawaii they were considering moving to but . . .

Average household income on the Big Island is less than the national average. Pretty sure most of the folks could make a go of it on seven times that even with $7 gallon milk.
by mnnice
Mon Sep 16, 2019 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Live in MA, Need 2.5 years health insurance until Medicare
Replies: 38
Views: 2706

Re: Live in MA, Need 2.5 years health insurance until Medicare

Can you either make a large tax deferred distribution before the end of the year or sell taxable? Can you stockpile cash til 65 and not realize much income. I don’t know how much income manipulation can be done my thought might not be germane if you have large taxable dividends, large pensions, rent...
by mnnice
Thu Aug 22, 2019 4:47 pm
Forum: Personal Consumer Issues
Topic: Hotel recommendation for Cambridge / Boston
Replies: 53
Views: 3226

Re: Hotel recommendation for Cambridge / Boston

We went to Boston/Cambridge almost exactly a year ago. We booked three award nights in Hyatt properties. We stayed at the Cambridge one one night and saw the Harvard and MIT sights and stayed in downtown Boston and did Freedom Walk, North Beach. I found it supremely walkable. The Cambridge Hyatt was...
by mnnice
Wed Aug 14, 2019 10:32 pm
Forum: Personal Finance (Not Investing)
Topic: Net-worth rule of thumb for house purchase?
Replies: 123
Views: 6800

Re: Net-worth rule of thumb for house purchase?

I don’t think a certain percentage is a max. But as a retired person sooner or later too much house would make you un-retired :wink:. For example, Broke Bob receives $1,000,000 inheritance and gives notice to his landlord that he presently pays $1,000 a month in rent. He falls in love with a $900,00...
by mnnice
Sun Aug 04, 2019 5:52 pm
Forum: Personal Consumer Issues
Topic: Costa Rica travel
Replies: 20
Views: 2417

Re: Costa Rica travel

We went to CR in 2018 we spent four days in the Arenal/LaFortuna area and six on the Beach in Tamarindo. I really enjoyed the experience. If I had it to do over I would find cheaper accommodation in LaFortuna and stay in a hostel on the Pacific coast. I dislike driving in general, the roads are ofte...
by mnnice
Sun Aug 04, 2019 2:29 pm
Forum: Personal Finance (Not Investing)
Topic: Received Significant Raises in Salary and getting Jealousy from Close Colleagues/Friends
Replies: 48
Views: 4929

Re: Received Significant Raises in Salary and getting Jealousy from Close Colleagues/Friends

I would say this is a problem somewhat developmental in nature. 16 year olds don’t have much variation in pay and older folks have learned to hike their own hike better. Life is not a race. I know lots of folks that made bank for a short time and then had something happen (illness, addiction, struct...
by mnnice
Sat Aug 03, 2019 4:06 pm
Forum: Personal Consumer Issues
Topic: Used Car Recommendations for Active Retired Couple
Replies: 31
Views: 2402

Re: Used Car Recommendations for Active Retired Couple

Very unclear why car ownership is even a desirable. Buy some non-owner insurance. Rent for your road trips. Walk, bike, mass transit, ride share, or cab everywhere else. Eliminate the hassle of worrying about having a seldom used car sitting around getting dents and having the tires rot. NYC covers...
by mnnice
Sat Aug 03, 2019 1:04 pm
Forum: Personal Consumer Issues
Topic: Used Car Recommendations for Active Retired Couple
Replies: 31
Views: 2402

Re: Used Car Recommendations for Active Retired Couple

Very unclear why car ownership is even a desirable.

Buy some non-owner insurance. Rent for your road trips. Walk, bike, mass transit, ride share, or cab everywhere else. Eliminate the hassle of worrying about having a seldom used car sitting around getting dents and having the tires rot.
by mnnice
Tue Jul 30, 2019 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirees - what's your spending like?
Replies: 36
Views: 4555

Re: Early retirees - what's your spending like?

My annual budget is $81,480 (after taxes) which is broken down as follow: Property Taxes - $5,520 Home insurance - $2,640 HOA Fee - $120 House Repairs / Upgrades - $3,600 House Cleaning - $1,440 Furnishing - $1,200 Lawn Maintenance - $1,440 Medical Insurance - $5,400 Long Term Care Insurance - $4,6...
by mnnice
Sun Jul 28, 2019 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is a rental property a good way to diversify my income to protect against job loss and / or stock market decline?
Replies: 21
Views: 1987

Re: Is a rental property a good way to diversify my income to protect against job loss and / or stock market decline?

During the Great Recession lots of folks had job loss, a stock market decline, and a rental property inhabited by someone else without a job that couldn’t pay the rent. Not really an improvement.
by mnnice
Sun Jul 28, 2019 8:52 pm
Forum: Personal Consumer Issues
Topic: Hawaii in August
Replies: 31
Views: 2975

Re: Hawaii in August

We went to the Big Island 2 years ago in mid-August with a 4 yr old and 2 yr old and stayed at the Hilton Waikoloa and had an awesome time. It's a big resort, but very nice if you want a low-stress vacation with little kids. We actually booked through Costco and had a 7-day stay including airfare a...
by mnnice
Fri Jul 19, 2019 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?
Replies: 289
Views: 24174

Re: Do people in HCOL areas have a higher net worth and more wealth building potential than LCOL?

However, in a LCOL area I have witnessed wealth and wealth accumulation beyond my wildest dreams. Wealth is also different in a LCOL rural area. Even a medium size farm is a multi-million dollar business. Think about that the next time you are flying over "flyover" country and see all those funny l...
by mnnice
Mon Jul 01, 2019 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Do you share your net worth with family members?
Replies: 252
Views: 24044

Re: Do you share your net worth with family members?

DH and I semi-retired about 5 years ago. Not working any more than we do at jobs that are obviously not highly compensated sort of tips the hand. If we had to actually live on our income life would be pretty barebones. The fact that we still travel and do plenty of fun stuff locally makes it clear t...
by mnnice
Fri Jun 14, 2019 7:38 pm
Forum: Personal Finance (Not Investing)
Topic: Article on high deductible health plans - and the math
Replies: 120
Views: 10777

Re: Article on high deductible health plans - and the math

vu8 wrote: Fri Jun 14, 2019 4:36 pm Do you know how much China's universal basic resident healthcare plan for the whole year of 2018 costs? About 29 dollars! For a whole year!
IICR don’t the Chinese pay for most of their healthcare out of pocket?
by mnnice
Tue Jun 11, 2019 9:19 pm
Forum: Investing - Theory, News & General
Topic: Anyone buying Beyond Meat stock?
Replies: 35
Views: 3365

Re: Anyone buying Beyond Meat stock?

I’m pretty sure the Beyond line is soy free.

I wish I would have bought the IPO as I have tasted them and offered samples to lots of people and found them well received. I personally didn’t like burgers but the sausage was very good.
by mnnice
Sat Jun 01, 2019 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: How do BH define Cost of Living Cities
Replies: 48
Views: 3025

Re: How do BH define Cost of Living Cities

OP, It is very simple. If you can buy a Single-family house of 2,000 to 3,000 square feet at around 200K, it is an MCOL area. Anything lower than that, it is LCOL. Anything higher than that, it is HCOL or VHCOL. KlangFool I looked up my present location that is rated 99 on the Best Places link. Zil...
by mnnice
Sat Jun 01, 2019 11:21 am
Forum: Personal Finance (Not Investing)
Topic: How do BH define Cost of Living Cities
Replies: 48
Views: 3025

Re: How do BH define Cost of Living Cities

OP, It is very simple. If you can buy a Single-family house of 2,000 to 3,000 square feet at around 200K, it is an MCOL area. Anything lower than that, it is LCOL. Anything higher than that, it is HCOL or VHCOL. KlangFool I looked up my present location that is rated 99 on the Best Places link. Zil...
by mnnice
Sat Jun 01, 2019 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Considering Pension Options
Replies: 14
Views: 1391

Re: Considering Pension Options

Also what happens if you would pass before you start collecting the pension? I am a vested inactive member in two public employee pensions. If I die before I start collecting DH just gets my contributions as a lump sum which is way less than he would likely get if we choose any flavor of joint survi...
by mnnice
Thu May 30, 2019 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 29887

Re: Can I afford this 2.3 million dollar home?

Custom Build in a HCOL neighborhood in a MCOL area. I agree with considering your options should you wish to move. These kind of houses in my area can take over a year to sell. Not enough people who can afford a house in that price range and too many options still available for those who can to do ...
by mnnice
Wed May 29, 2019 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching jobs
Replies: 79
Views: 5354

Re: Teaching jobs

Thank you to all who have replied. She has applied for about four jobs, two of which were in a desirable school district. Sometimes you have to teach in an undesirable school district, to get your foot in the door so to speak. +1 Perhaps she is overestimating how valuable the masters degree is for ...
by mnnice
Mon May 27, 2019 2:05 pm
Forum: Personal Finance (Not Investing)
Topic: Teaching jobs
Replies: 79
Views: 5354

Re: Teaching jobs

Sometimes a master’s is a liability in looking for a starting teaching job. Why pay an untested person for a master’s degree when you can hire a person with just a bachelors?

Some licensures are just easier to get a job in than others. Math is usually an easier area.
by mnnice
Sun May 26, 2019 5:06 pm
Forum: Personal Consumer Issues
Topic: Worth it to upgrade 2nd car in 1.5 car household?
Replies: 28
Views: 2536

Re: Worth it to upgrade 2nd car in 1.5 car household?

I think my comfort level with the Scion would be fine. They have good crash test results. The engine is bulletproof. IICR it the same engine as my Vibe that I got 225k out of without ever using a drop of oil.
by mnnice
Fri May 24, 2019 8:05 pm
Forum: Personal Investments
Topic: Can I open a Roth for daughter's birthday present?
Replies: 13
Views: 1431

Re: Can I open a Roth for daughter's birthday present?

Her age is pretty relevant. My 17 year old has a Roth for a minor from Fidelity. My DH had to open it. An adult probably needs to open her own. A 12 year old might have earned income but wouldn’t usually have the W-2 or 1099 to back it up.
by mnnice
Fri May 17, 2019 11:41 am
Forum: Personal Consumer Issues
Topic: Honda CRV or Toyota RAV4 ?
Replies: 98
Views: 11141

Re: Honda CRV or Toyota RAV4 ?

We test drove a 2019 RAV4 adventure. We liked it. I then read some reviews. Toyota doesn’t sell a hitch for it despite bragging about it’s 3500 towing capacity. People that have bought them have struggled to find an aftermarket one too. Might be a deal breaker since the point of the purchase would b...
by mnnice
Thu May 16, 2019 4:31 pm
Forum: Personal Finance (Not Investing)
Topic: new renter rent to be paid by insurance company
Replies: 15
Views: 1728

Re: new renter rent to be paid by insurance company

Why don't the tenants just pay you the money and the insurance company reimburse them their expenses? Isn't that how these kinds of things normally work? Having lived through this as the tenant I would say there is no normal. :annoyed Different scenarios regarding exactly what coverages the policy ...
by mnnice
Thu May 16, 2019 8:37 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1468

Re: Social Security Income and Medicaid Eligibility - Planning Question

If Medicaid income is determined by a 1040 tax return (not sure, but a good guess), SS may or may not show up on income at all or very little of it might be there. I think you need a tax estimator or tax program to try out the numbers. That’s not how it works. You fill out forms stating your income...
by mnnice
Thu May 16, 2019 7:53 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1468

Re: Social Security Income and Medicaid Eligibility - Planning Question

If Medicaid income is determined by a 1040 tax return (not sure, but a good guess), SS may or may not show up on income at all or very little of it might be there. I think you need a tax estimator or tax program to try out the numbers. That’s not how it works. You fill out forms stating your income...
by mnnice
Wed May 15, 2019 5:30 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Income and Medicaid Eligibility - Planning Question
Replies: 21
Views: 1468

Re: Social Security Income and Medicaid Eligibility - Planning Question

If they just have $1000 of income they are probably eligible for both Medicare and Medicaid which would basically be like free Medigap coverage. With both people collecting they would appear over the income limit for dual eligibility in both the 67 and 70 scenarios. If they really have zero assets a...
by mnnice
Tue May 14, 2019 1:55 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 8692

Re: Inherited ranch

Another way to view this; its worth,according to real estate sales, about 480000 max to 400000. Rent payment is 3500$. Which they (pissy family members) paid twice over the last 7 years. I would rather the neighbors bought it. They're good people. That’s really (insert your favorite moderator unfri...
by mnnice
Sun May 12, 2019 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: Inherited ranch
Replies: 97
Views: 8692

Re: Inherited ranch

Unlike most people here I would certainly be for selling to family. Because coming from a farm family nothing is more crushing to parents or farm families is some kid who moved off and wants to cash out the family farm causing his or her siblings to lose the family farm to some big corporation. But...
by mnnice
Sat May 04, 2019 5:22 pm
Forum: Personal Consumer Issues
Topic: College/life prep for young kids
Replies: 79
Views: 7081

Re: College/life prep for young kids

Be open minded. I am the parent of a high school junior. I kind of figured he would attend a four year college and get an engineering degree. He was a happy go lucky extrovert that loved school. Then about 8th grade he lost his loving feeling for school. He continued to have good grade as a freshman...
by mnnice
Sun Apr 28, 2019 9:38 am
Forum: Personal Finance (Not Investing)
Topic: Why do most people hate/dread learning about money and is there a good book for helping them?
Replies: 78
Views: 5794

Re: Why do most people hate/dread learning about money and is there a good book for helping them?

I don’t think it all about just not living in your means. I have several family members that manage money just fine on a day by day basis that are avoidant more macro decisions. I have a family member that has out earned me his whole adult life but procrastinated for years on refinancing his home be...
by mnnice
Wed Apr 24, 2019 7:47 pm
Forum: Personal Finance (Not Investing)
Topic: Planning for family business transition [saving, inheritance, etc]
Replies: 19
Views: 963

Re: Planning for family business transition [saving, inheritance, etc]

I am in almost the same situation except that MIL and FIL are both parents to all three kids (and the business is likely less successful). The added wrinkle is that until recently both DH and BIL have wanted to work on generational succession and parents were disinterested. They now act like they wo...
by mnnice
Tue Apr 23, 2019 1:09 pm
Forum: Personal Finance (Not Investing)
Topic: Housing: "Super Savers" vs. the "Rest"...
Replies: 85
Views: 10232

Re: Housing: "Super Savers" vs. the "Rest"...

You might have supper in the oven but it is not going to take an hour to get to the Y. :) Actually it does take a half an hour one way to get to some specific gyms. I'm not talking low end stuff like Planet Fitness, Anytime Fitness, etc. As CD mentioned above, the hassle of changing up the equipmen...
by mnnice
Tue Apr 23, 2019 9:25 am
Forum: Personal Finance (Not Investing)
Topic: Housing: "Super Savers" vs. the "Rest"...
Replies: 85
Views: 10232

Re: Housing: "Super Savers" vs. the "Rest"...

You might have supper in the oven but it is not going to take an hour to get to the Y. :) q. My primary fitness activity is yoga. Technically I could do it at home easily. However, my home practice always end up being lame. Following an instructor is more interesting and on the long shot that it is...
by mnnice
Tue Apr 23, 2019 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Housing: "Super Savers" vs. the "Rest"...
Replies: 85
Views: 10232

Re: Housing: "Super Savers" vs. the "Rest"...

If your house was half the size you would only lose your gym space. You can buy a lot of gym membership with just the tax savings. I suspect CyclingDuo could keep a home gym even with a sq. footage reduction given the numbers he is talking about. With that said, some of this is about convenience an...
by mnnice
Mon Apr 22, 2019 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Housing: "Super Savers" vs. the "Rest"...
Replies: 85
Views: 10232

Re: Housing: "Super Savers" vs. the "Rest"...

CyclingDuo do you think you want to stay in your present area post retirement? If you ( and DW of course) are planning on staying in the same general area I would consider making the change sooner vs later. If your house was half the size you would only lose your gym space. You can buy a lot of gym ...
by mnnice
Thu Apr 18, 2019 6:41 pm
Forum: Personal Finance (Not Investing)
Topic: leaving state job / pension. ..... bad idea?
Replies: 44
Views: 4087

Re: leaving state job / pension. ..... bad idea?

How well is your state pension funded?

What happens to inactive accounts? I have two and have opted to keep my money. The one plan continues to grow and the other doesn’t.
by mnnice
Sun Apr 14, 2019 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Can I semi-retire now?
Replies: 138
Views: 14510

Re: Can I semi-retire now?

Interesting thread. The fact pattern seems to be a Rorschach test for the posters--bringing out the FIRE vs. the save-invest-never-spend Bogleheads. I'm more the latter. I'm going to stick with my original position (above) of not giving advice, but I have been thinking about the OP a lot over the l...
by mnnice
Sat Apr 13, 2019 11:35 pm
Forum: Personal Finance (Not Investing)
Topic: Can I semi-retire now?
Replies: 138
Views: 14510

Re: Can I semi-retire now?

There is a trend taking place whereby: 1) healthy, able bodied, smart young men decide to stop working or semi-work while sending their wives to work full time. The reverse is not a new trend and therefor not noteworthy in this thread. 2) young couples with young children put their children's finan...
by mnnice
Wed Apr 10, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: $20k day care...how is it taxed?
Replies: 85
Views: 6041

Re: $20k day care...how is it taxed?

Right. And my kids are now 12 and 9, but i can't remember the expense cap increasing at all. It's not inflation indexed. It was the same amount 17 years ago when I first had a child in daycare. At that time the $5000 max came pretty close to covering childcare for one newborn in full-time care (min...
by mnnice
Fri Apr 05, 2019 7:41 am
Forum: Personal Finance (Not Investing)
Topic: Do you have guaranteed replacement cost provision with your homeowners insurance?
Replies: 27
Views: 2422

Re: Do you have guaranteed replacement cost provision with your homeowners insurance?

We have it, but have recently reviewed the policy and discovered a surprise due to my inattention. Our policy has an annual inflation adjustment that has resulted in an increase over the past decade since purchased. It is insured for $140,000 more than its recent selling price! As a result of this ...
by mnnice
Tue Apr 02, 2019 2:00 pm
Forum: Personal Finance (Not Investing)
Topic: What to Do with Spouses State Retirement Balance?
Replies: 9
Views: 709

Re: What to Do with Spouses State Retirement Balance?

In my mind the two main considerations are: the same

1. the overall health/funding rate of the plan.
2. If she gets back all contributions or just her contributions.

What state is this in?
by mnnice
Mon Apr 01, 2019 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Received offer on house with contingency for prior sale
Replies: 18
Views: 1771

Re: Received offer on house with contingency for prior sale

I will offer an opposing view. We sold a house in a brutally slow market in 2012. The first offer was contingent on the buyers selling their current house (which wasn’t even listed yet :oops: ). We accepted it with the promise that the listing agent would continue to market it. It didn’t even occur ...
by mnnice
Wed Mar 20, 2019 4:56 pm
Forum: Personal Finance (Not Investing)
Topic: Should we have renters insurance?
Replies: 68
Views: 4633

Re: Should we have renters insurance?

Add up what clothes/ shoes/ boots, furniture, kitchen items, and other odds and ends cost. It is easy to get in the tens of thousands of dollars if you had to go out and replace all of this at once. After seeing our neighbors house burn down last year the wife and I were sure glad we had renters in...
by mnnice
Wed Mar 20, 2019 12:38 pm
Forum: Personal Finance (Not Investing)
Topic: Should we have renters insurance?
Replies: 68
Views: 4633

Re: Should we have renters insurance?

Add up what clothes/ shoes/ boots, furniture, kitchen items, and other odds and ends cost. It is easy to get in the tens of thousands of dollars if you had to go out and replace all of this at once. After seeing our neighbors house burn down last year the wife and I were sure glad we had renters in...