Search found 527 matches

by Ybsybs
Fri Feb 22, 2019 5:18 pm
Forum: Personal Investments
Topic: Increase TSP (401K) contribution or invest outside?
Replies: 17
Views: 1108

Re: Increase TSP (401K) contribution or invest outside?

If I were you, I'd put all the retirement contributions you can afford to make in your TSP. I don't see a value in splitting them up. If instead of TSP, you had a 401k which could have not very good investment options, then I'd recommend contributing enough to get the full match available and then u...
by Ybsybs
Fri Feb 22, 2019 2:36 pm
Forum: Personal Investments
Topic: Where to put house savings?
Replies: 6
Views: 672

Re: Where to put house savings?

You may be able to get a higher rate on a CD. Might not be enough higher to be worth the trouble for you.
by Ybsybs
Fri Feb 22, 2019 2:30 pm
Forum: Personal Consumer Issues
Topic: Montessori Preschool: Good or Bad
Replies: 23
Views: 2519

Re: Montessori Preschool: Good or Bad

Sometimes schools with the Montessori label get super picky about things you might not want to deal with. A place my friend sends her kids requires that no child come to school wearing any sort of TV related character on their clothing. This dress code was recently relaxed from one that didn't allow...
by Ybsybs
Fri Feb 22, 2019 2:18 pm
Forum: Personal Finance (Not Investing)
Topic: How to finance car purchase for teen
Replies: 60
Views: 3033

Re: How to finance car purchase for teen

I suggest checking out the location where the car would be parked at college. The nicest looking car is the one most likely to draw the attention of a thief. Sometimes that means a broken window and the stereo gone and sometimes that means the car gets stolen. Either way, it's less hassle to have th...
by Ybsybs
Fri Feb 22, 2019 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning Feedback
Replies: 11
Views: 1109

Re: Estate Planning Feedback

If my sibling had four kids and I had zero, I would not think twice about her getting a much larger inheritance or those kids getting it directly. Frankly I would feel quite guilty if I got the same amount. As others have suggested above, if your goal is an equitable division, I think the best appr...
by Ybsybs
Fri Feb 22, 2019 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Estate Planning Feedback
Replies: 11
Views: 1109

Re: Estate Planning Feedback

Your plan sounds feasible if you expect to have enough other money to fully fund your retirement and your wife's retirement. I agree with the other posters that it would be a good idea to share the "why" of the plan with the kids sooner rather than later.
by Ybsybs
Fri Feb 22, 2019 9:59 am
Forum: Personal Investments
Topic: Financial Predators and the Elderly, and What YOU Need to Do
Replies: 41
Views: 3711

Re: Financial Predators and the Elderly, and What YOU Need to Do

This is an important topic, and there isn't always a good solution. My inlaws have me monitoring their finances now, but not really handling them. I researched the charities father-in-law supported after taking over their taxes to ensure the organizations were registered charities and convinced him ...
by Ybsybs
Thu Feb 21, 2019 5:37 pm
Forum: Personal Investments
Topic: Roth IRA and Income Limits - what if you don't know?
Replies: 14
Views: 984

Re: Roth IRA and Income Limits - what if you don't know?

You can fix it after the fact, and I've had to do that. But it's so much easier to just wait, which is what I do when it looks like it might be close.
by Ybsybs
Thu Feb 21, 2019 3:53 pm
Forum: Personal Finance (Not Investing)
Topic: Aging Parents & Finances
Replies: 49
Views: 6178

Re: Aging Parents & Finances

Personal and current experience with my inlaws' assisted living facility (and with the search for a good fit facility with availability) is that what you can get varies widely and isn't as directly correlated with price as I thought it would be. A good fit had to do mostly with comfort for the futur...
by Ybsybs
Thu Feb 21, 2019 1:17 pm
Forum: Personal Investments
Topic: Should I keep money in TSP long term?
Replies: 66
Views: 3265

Re: Should I keep money in TSP long term?

I see value in transferring Roth TSP shares into a Roth IRA elsewhere if you are nearing 70 to avoid taking Roth RMDs. I'm planning to evaluate doing that with my TSP in my late sixties. Non-spouse heirs inheriting a TSP account don't have as many options for tax management of their distributions as...
by Ybsybs
Tue Feb 19, 2019 5:33 pm
Forum: Personal Finance (Not Investing)
Topic: What's your tax filing strategy? (for commoners)
Replies: 31
Views: 1909

Re: What's your tax filing strategy? (for commoners)

My strategy is to hire a CPA for our complex multistate filings. For 2020 taxes, it looks likely that we'll have only one state to file in and also likely that we will be able to take the standard deduction without leaving money on the table. Also my CPA is planning to retire soon, so it's getting t...
by Ybsybs
Tue Feb 19, 2019 4:03 pm
Forum: Personal Investments
Topic: Pay cash for house or 50% down and continue to invest the rest
Replies: 21
Views: 1810

Re: Pay cash for house or 50% down and continue to invest the rest

DoubleIPA, Thanks for the post. I've been watching your thread with personal interest. I've got a house with a closing date next week and I've been renting while waiting for the house to sell. The discussion pro and con on buying more or less house for your case is helpful for thinking through our p...
by Ybsybs
Tue Feb 19, 2019 7:07 am
Forum: Personal Finance (Not Investing)
Topic: Do we need a will/trust/etc?
Replies: 59
Views: 4062

Re: Do we need a will/trust/etc?

It sounds like there's something you think your wife isn't interested in planning for with the "need to be grownups" quip but in the same post you disparage naming guardians for your kids which would be the "grownup" thing for you to do. What if you both work together to come up with your plan and t...
by Ybsybs
Mon Feb 18, 2019 4:12 pm
Forum: Personal Consumer Issues
Topic: How Much Home Value Added by Finishing Basement?
Replies: 35
Views: 2901

Re: How Much Home Value Added by Finishing Basement?

Value would be around $5k for buyers exactly like you, less for anyone who'd have to make modifications to make the space useful for them, and zero to negative for those who don't care for the changes or who would want to undo it. Basement/garage use is personal.
by Ybsybs
Fri Feb 15, 2019 4:01 pm
Forum: Personal Consumer Issues
Topic: Building a home
Replies: 31
Views: 2727

Re: Building a home

I would also be suspicious. As another poster considering buying a house in the near term, I too have seen new build construction advertised with pricing cheaper than the list prices currently on the market. I don't know the specifics for your area. For my own area, I notice: - Houses for sale list ...
by Ybsybs
Fri Feb 15, 2019 1:28 pm
Forum: Personal Consumer Issues
Topic: What are your best retirement years?
Replies: 50
Views: 4758

Re: What are your best retirement years?

My observation of relatives is that modern medicine is fantastic at extending lifespans. For those with my genetics and access to healthcare, an unhealthy lifestyle no longer causes an early death but instead leads to early frailty and physical disability. This leads me to think my own best retireme...
by Ybsybs
Wed Feb 13, 2019 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: Wife has accumulated $90K in debt - Advice sought...
Replies: 42
Views: 5814

Re: Wife has accumulated $90K in debt - Advice sought...

It might be that you should not be legally married to each other. It could be better for your relationship to be more separate financially than is possible while still married. You could still live together as long as you are not in a common law marriage state. Something to consider as you two try t...
by Ybsybs
Wed Feb 13, 2019 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Wife has accumulated $90K in debt - Advice sought...
Replies: 42
Views: 5814

Re: Wife has accumulated $90K in debt - Advice sought...

Can you identify why the debt was accrued and take action as a couple to change that?
by Ybsybs
Wed Feb 13, 2019 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Newlyweds and joint accounts for household expenses
Replies: 120
Views: 6427

Re: Newlyweds and joint accounts for household expenses

The othe problem with the separate accounts, again for me not for everyone, is the idea of “saving up” for something big. Let’s say I got $500/mo of Jags4186 money and decided not to spend any of it for 20 months and then on my own go out and buy a $10,000 watch/motorcycle/whatever. That wouldn’t b...
by Ybsybs
Wed Feb 13, 2019 10:23 am
Forum: Personal Finance (Not Investing)
Topic: 2019 Withholding & Tax Planning
Replies: 7
Views: 908

Re: 2019 Withholding & Tax Planning

I'm trying to figure out what withholding we should do this year for federal and state taxes. The personal finance toolbox spreadsheet has a good federal tax capability, and will also do withholding estimates. State tax calculation is probably good for states with simple returns.... Thanks! I didn'...
by Ybsybs
Tue Feb 12, 2019 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Withholding & Tax Planning
Replies: 7
Views: 908

Re: 2019 Withholding & Tax Planning

Hi Bogleheads, I'm trying to figure out what withholding we should do this year for federal and state taxes. We've got a large refund coming this year, and I'd like to get more of that money over the course of the year instead of in March/April next year. When I completed the IRS withholding calcul...
by Ybsybs
Tue Feb 12, 2019 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Withholding & Tax Planning
Replies: 7
Views: 908

Re: 2019 Withholding & Tax Planning

We are anticipating about double 2018's income in 2019.

But yeah, I also thought there was something wrong with the result I got which is why I intend to recheck all my numbers and try again.
by Ybsybs
Mon Feb 11, 2019 2:27 pm
Forum: Personal Finance (Not Investing)
Topic: 2019 Withholding & Tax Planning
Replies: 7
Views: 908

2019 Withholding & Tax Planning

Hi Bogleheads, I'm trying to figure out what withholding we should do this year for federal and state taxes. We've got a large refund coming this year, and I'd like to get more of that money over the course of the year instead of in March/April next year. When I completed the IRS withholding calcula...
by Ybsybs
Thu Jan 31, 2019 10:20 am
Forum: Investing - Theory, News & General
Topic: An emergency fund cautionary tale
Replies: 89
Views: 11392

Re: An emergency fund cautionary tale

Let's not forget the people effected by this shutdown are Federal employees. These are not poorly paid people making minimum wage, etc. These are people who are well paid for the job description. They also enjoy an excellent benefit package that most people in the private sector would love to have....
by Ybsybs
Fri Jan 25, 2019 10:46 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire by 40 and How you Did it?
Replies: 205
Views: 34651

Re: Millionaire by 40 and How you Did it?

Things that helped: Higher than average income for two earners. No kids until later in life. No divorce. Significantly higher than average savings rate. (Greater than 50% some years.) Luckiness of receiving bonuses and investing them in stocks during market lows. Things that didn't: No inheritances ...
by Ybsybs
Fri Jan 25, 2019 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Appropriate age to communicate your will/wishes to your kids
Replies: 57
Views: 4453

Re: Appropriate age to communicate your will/wishes to your kids

I knew for as long as I could remember who my siblings and I would go live with if something were to happen to my parents. The details of my parents' wills with regard to finances were not made clear to me until I was an adult and they asked me to be the executor in the event that they predecease me...
by Ybsybs
Tue Jan 22, 2019 2:09 pm
Forum: Personal Consumer Issues
Topic: What is a Boglehead funeral/burial?
Replies: 153
Views: 9243

Re: What is a Boglehead funeral/burial?

Do the legwork of selecting whatever seems reasonable to you in advance so your survivors aren't trying to decide whether you'd have preferred the cherrywood or the mahogany casket while they are in the midst of grieving.
by Ybsybs
Thu Dec 20, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Considering living with Mother in law (MIL)
Replies: 34
Views: 3871

Re: Considering living with Mother in law (MIL)

Please don't do this to yourselves.

If you do it, I hope it works out for you.

My personal experience with eldercare is that it gets more and more draining and more and more thankless as time goes on and the elder's health and capacity for gratitude diminishes.
by Ybsybs
Thu Dec 20, 2018 10:12 am
Forum: Personal Consumer Issues
Topic: USAA apology letter?
Replies: 42
Views: 7060

Re: USAA apology letter?

I've heard others talk about USAA providing exceptional service, but I personally haven't seen it. I use them for all long as they provide low cost insurance. Once another company has better rates, I'll move on. I watch them closely because about every other year they mess something up with my bank ...
by Ybsybs
Mon Dec 17, 2018 12:00 pm
Forum: Personal Consumer Issues
Topic: Gift Ideas for wife
Replies: 76
Views: 5985

Re: Gift Ideas for wife

You might try consumable cooking related things. If she cooks with dried spices, you could go through her spice rack and buy new of anything that's very old. When precisely the flavor starts to go varies by spice and whether it is whole or ground, but if it's more than four years old, I'd recommend ...
by Ybsybs
Wed Dec 12, 2018 8:45 am
Forum: Personal Finance (Not Investing)
Topic: What percentage of your net worth is your home equity?
Replies: 309
Views: 24295

Re: What percentage of your net worth is your home equity?

I've owned one house ever and am now in the process of attempting to sell it. Looking back, I consider my past valuations of the home as only estimated sale price based on recently sold comps minus remainder or mortgage owed was incorrect. A more accurate estimate of the final cash value would have ...
by Ybsybs
Sun Dec 09, 2018 3:37 pm
Forum: Personal Investments
Topic: Advice for older and younger person saving for retirement?
Replies: 33
Views: 3087

Re: Advice for older and younger person saving for retirement?

I'm addressing a side issue. Please feel free to ignore it if is seems not applicable or is socially unpalatable. It sounds like your mom and your grandma may both be your financial dependents. Here's a link to an IRS quiz to determine if they are or are not: https://apps.irs.gov/app/understandingTa...
by Ybsybs
Fri Nov 30, 2018 3:30 pm
Forum: Personal Finance (Not Investing)
Topic: Too Much Savings Regret
Replies: 112
Views: 18038

Re: Too Much Savings Regret

For ten years I saved at least 50% each year. I didn't choose that high savings rate for retirement though. I did it because I didn't enjoy my work and I wanted to have a big financial cushion to make the leap to a much less lucrative dream career. I'm three years post transition now. I regret nothi...
by Ybsybs
Tue Nov 27, 2018 2:52 pm
Forum: Personal Consumer Issues
Topic: Why is the Honda Fit so hard to find?
Replies: 63
Views: 6822

Re: Why is the Honda Fit so hard to find?

In my area, an after market installation of heated seats for both front seats by an authorized service provider (who won't void your warranties) is $600. Is that just to heat the already existing seats or to make them leather and heated? The leather is much more important to me than heated (heated ...
by Ybsybs
Tue Nov 27, 2018 1:16 pm
Forum: Personal Consumer Issues
Topic: Why is the Honda Fit so hard to find?
Replies: 63
Views: 6822

Re: Why is the Honda Fit so hard to find?

In my area, an after market installation of heated seats for both front seats by an authorized service provider (who won't void your warranties) is $600.
by Ybsybs
Sun Nov 18, 2018 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: parents buying home for sibling
Replies: 42
Views: 5903

Re: parents buying home for sibling

So this sibling is asking for and receiving large amounts of continued financial support. When older parents have failed thus far to make the hard choice of cutting off an adult child who isn't yet choosing to mature, any comments from the kid (or kids) who did mature are unlikely to be received wel...
by Ybsybs
Sun Nov 18, 2018 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: 38 & 43 with pension and $1M in assets considering increasing spending
Replies: 18
Views: 2261

Re: 38 & 43 with pension and $1M in assets considering increasing spending

Thanks for the many thoughtful responses folks! We will take your advice into consideration as we decide how to invest and spend going forward.
by Ybsybs
Fri Nov 16, 2018 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: 38 & 43 with pension and $1M in assets considering increasing spending
Replies: 18
Views: 2261

Re: 38 & 43 with pension and $1M in assets considering increasing spending

Do you have access to health insurance through the pension system? If not, keep that new expense in mind when planning for both of you to leave the workforce or only work jobs with no benefits. Yes, we do. The costs are a little higher than they were while at least one of us was active duty, but co...
by Ybsybs
Fri Nov 16, 2018 2:04 pm
Forum: Personal Finance (Not Investing)
Topic: 38 & 43 with pension and $1M in assets considering increasing spending
Replies: 18
Views: 2261

Re: 38 & 43 with pension and $1M in assets considering increasing spending

c1over8 wrote:
Fri Nov 16, 2018 1:39 pm
If your spouse were to pass away, do you continue the pension? At 100%?
Yes, it continues. It works out to 99% while the kids are under 18 and 91% after. We also have a large whole life policy on him. (I know, I know, but he likes it. And we aren't hurting for cash.)
by Ybsybs
Fri Nov 16, 2018 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: 38 & 43 with pension and $1M in assets considering increasing spending
Replies: 18
Views: 2261

Re: 38 & 43 with pension and $1M in assets considering increasing spending

If I could live on my pensions after I retire then I would withdraw 3% from my assets annually to live more comfortably now. My money would last in perpetuity with 3% withdrawal rate. TravelforFun Is that 3% rate considered safe even when started at 38 instead of 68? I'd thought a lower percentage ...
by Ybsybs
Fri Nov 16, 2018 1:38 pm
Forum: Personal Finance (Not Investing)
Topic: 38 & 43 with pension and $1M in assets considering increasing spending
Replies: 18
Views: 2261

Re: 38 & 43 with pension and $1M in assets considering increasing spending

Personally? I would plan on retiring after the temporary contract is up. Financially, it depends on what spending more looks like to you. The more you increase your day to day lifestyle, the more you will need for retirement. If, on the other hand, you increase spending in splurges like vacations, ...
by Ybsybs
Fri Nov 16, 2018 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: 38 & 43 with pension and $1M in assets considering increasing spending
Replies: 18
Views: 2261

38 & 43 with pension and $1M in assets considering increasing spending

I'm trying to decide if I should slow down on savings and loosen the purse strings a bit. I think the answer is yes. If you disagree, please explain why. If you agree that we can reasonably spend a bit more on ourselves, please help us work through how much more. (I went back and forth reading the g...
by Ybsybs
Thu Mar 09, 2017 5:26 am
Forum: Personal Finance (Not Investing)
Topic: Wedding cash gift
Replies: 68
Views: 6274

Re: Wedding cash gift

I had a massive wedding and absolutely loved it. I was 13 years ago and I still think back on it fondly and often have friends and relatives bring up how much fun they had at the event. How expensive a big wedding is going to be will depend greatly on where you live. I doubt the OP's money would go ...
by Ybsybs
Sun Mar 05, 2017 2:59 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Investing with Variable Income
Replies: 7
Views: 840

Re: Retirement Investing with Variable Income

First, do you have tIRAs or have you only Roths? If you have no non-Roth IRAs, you could look up "Backdoor Roth" in the Wiki. If you have them, perhaps they could be rolled into a 401k so a BD Roth could be done. It does require an extra record-keeping form at tax-time. I assume you each fill a 401...
by Ybsybs
Sun Mar 05, 2017 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Investing with Variable Income
Replies: 7
Views: 840

Re: Retirement Investing with Variable Income

By the way, you have a distinct advantage over everybody else BECAUSE you have a variable income. After retirement, most people are trying to figure out how to get a steady income stream from their accounts because they're used to living that way. I'd love to hear how you structure your finances to...
by Ybsybs
Sun Mar 05, 2017 2:40 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Investing with Variable Income
Replies: 7
Views: 840

Re: Retirement Investing with Variable Income

kaudrey wrote:YMMV.
Thanks for sharing your perspective.
by Ybsybs
Tue Feb 28, 2017 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Retirement Investing with Variable Income
Replies: 7
Views: 840

Retirement Investing with Variable Income

Hi Bogleheads, I'm wondering if anyone else has variable income that makes their retirement contributions complex. I'm the money person in the household and as our net worth grows the relative value of reduced paperwork is starting to exceed the value of chasing the most optimal investment strategy....
by Ybsybs
Sat Feb 04, 2017 4:20 pm
Forum: Personal Finance (Not Investing)
Topic: Parents as dependents on tax return
Replies: 54
Views: 4472

Re: Parents as dependents on tax return

The IRS has a tool for figuring out if someone is claimable as a dependent.
https://www.irs.gov/uac/who-can-i-claim-as-a-dependent
by Ybsybs
Sat Dec 31, 2016 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Military Retirement; Time value of drawing a pension at 20 years
Replies: 27
Views: 4263

Re: Military Retirement; Time value of drawing a pension at 20 years

Taz wrote:I would not assume that retired military pay will keep up with inflation. Inflation for 2016 was approximately 1.7% depending on your source.

I received a 0.3% increase for 2017.
Good point.