Search found 1396 matches

by JDCarpenter
Fri Jun 30, 2017 8:25 am
Forum: Investing - Theory, News & General
Topic: Effect of bankruptcy on ira
Replies: 23
Views: 2946

Re: Effect of bankruptcy on ira

JDCarpenter .... (d)(12) references back to (b), which ties in state law (and our state law has a cap on IRAs, like many states, for example). Perhaps a rollover gets 100% exempt treatment, perhaps not, I just haven't seen case law on it and (d)(12) standing alone doesn't make it clear to me. Thank...
by JDCarpenter
Fri Jun 30, 2017 7:54 am
Forum: Investing - Theory, News & General
Topic: Effect of bankruptcy on ira
Replies: 23
Views: 2946

Re: Effect of bankruptcy on ira

... As for the post indicating the rollover has the same protection as the 401k, the article states this to be the case but on a quick review I didn't see any technical analysis (either bankruptcy code citations or case law -- and if it were case law note that it can vary from circuit to circuit). ...
by JDCarpenter
Fri Jun 30, 2017 7:47 am
Forum: Personal Consumer Issues
Topic: How did you handle the costs of your child's wedding?
Replies: 170
Views: 20078

Re: How did you handle the costs of your child's wedding?

I don't think this is the battle which I will win against "the boss". When I said bride and groom's parents, I really meant 50% of the bride and groom's parents who insists on wedding extravaganza . That is generally true--but it is not necessarily one sex or the other who is driving this from pare...
by JDCarpenter
Fri Jun 30, 2017 7:43 am
Forum: Personal Consumer Issues
Topic: Buying house - Very important decision
Replies: 228
Views: 30088

Re: Buying house - Very important decision

... On utilities: again this will vary , but I have a 1000 sq ft smaller home than the OP also in the south & we do not water the lawn & have a new high SEER AC and we average about $400/month. I know my next door neighbors bills average around $750/month for a similarly sized house (they also don'...
by JDCarpenter
Fri Jun 30, 2017 7:33 am
Forum: Investing - Theory, News & General
Topic: Effect of bankruptcy on ira
Replies: 23
Views: 2946

Re: Effect of bankruptcy on ira

I think the federal law protects IRAs in bankruptcy but not if you don't declare bankruptcy. Creditors still might be able to seize your IRA, depending on state law. Correct. Subject to the limitation explained in the Slott article if you manage to get a contributory IRA, as opposed to roll-over, u...
by JDCarpenter
Thu Jun 29, 2017 2:52 pm
Forum: Investing - Theory, News & General
Topic: Effect of bankruptcy on ira
Replies: 23
Views: 2946

Re: Effect of bankruptcy on ira

Here's something I found- Are IRA accounts exempt? http://minnbankruptcyhelp.com/questions/2010/12/09/are-ira-accounts-exempt Question Are IRA accounts exempt? Answer ... Under the Federal exemptions, funds in any tax-qualified retirement account (pensions, IRAs, 401ks, 403bs, etc) are protected up...
by JDCarpenter
Thu Jun 29, 2017 8:53 am
Forum: Personal Consumer Issues
Topic: Buying house - Very important decision
Replies: 228
Views: 30088

Re: Buying house - Very important decision

... Yes we live in nashville - franklin :oops: Unless you are working standard hours south of 440 or 100 Oaks, take a look at Wilson County/Mt. Juliet. Public Schools comparable to Williamson, but even with recent upturn, it is still a lot cheaper than Franklin. As you know, you are looking in the ...
by JDCarpenter
Thu Jun 29, 2017 8:44 am
Forum: Personal Investments
Topic: Variable Withdrawal Rates
Replies: 21
Views: 2608

Re: Variable Withdrawal Rates

... To combat the fluctuations, you can base your variable rate on a rolling average (my employer does a 3-year rolling average ). Let's say you do a 5% variable withdrawal with a $1M portfolio. Your $1M drops to $500K for a year. The next year, your withdrawal drops from $50K to $41K. Even if the ...
by JDCarpenter
Wed Jun 28, 2017 10:05 pm
Forum: Personal Consumer Issues
Topic: How did you handle the costs of your child's wedding?
Replies: 170
Views: 20078

Re: How did you handle the costs of your child's wedding?

Ok, $19.3K if you count the $300 to replace the wedding band I lost scuba diving in Cancun (to-date, that remains the most expensive dive I have ever done :oops: ) Heh, I lost my first wedding ring on our honeymoon snorkeling in Hawaii too... Lost two more before my wife gave up on me (Well, she ga...
by JDCarpenter
Wed Jun 28, 2017 2:08 pm
Forum: Personal Consumer Issues
Topic: How did you handle the costs of your child's wedding?
Replies: 170
Views: 20078

Re: How did you handle the costs of your child's wedding?

We have three sons, two of whom got married this year. Eldest and his wife are bay area engineers and footing the bill for their several geographically dispersed celebrations. Youngest one's wife's family picked up what, to us, seemed to be a pricey, small wedding. (We did buy dinner for the six of ...
by JDCarpenter
Wed Jun 28, 2017 11:12 am
Forum: Personal Investments
Topic: Looking into selling a structured settlement and need some advice
Replies: 66
Views: 6805

Re: Looking into selling a structured settlement and need some advice

Tanelorn wrote:...
Do you think OP, who may have won a legal settlement from[a tortfeasor who paid the settlement via purchasing an annuity from] an insurance company, is a "policy holder"? ...
FTFY. And, in my experience, yes.
by JDCarpenter
Tue Jun 27, 2017 10:30 pm
Forum: Personal Consumer Issues
Topic: [Sam's Club, Costco, BJ's, and other wholesaler clubs]
Replies: 274
Views: 24076

Re: Sam's Club vs. Costco

Which Sam's Club? In our experience, they differ drastically depending upon the demographics of the area in which they are located. Near us, we can't buy a bottle of Dom if we want to celebrate with a bubbly; near in-laws, Sam's stocks that. Costco, in our limited exposure to it, is pricey and full ...
by JDCarpenter
Fri Jun 23, 2017 4:32 pm
Forum: Personal Finance (Not Investing)
Topic: Can you share some of your financial goals?
Replies: 69
Views: 10984

Re: Can you share some of your financial goals?

After buying a home I've had 3 three "goals" for every dollar and "invest accordingly" for these: 1) ... 2) Send the kids through college debt-free savings (finished this goal - now withdrawing from it until complete). 3) A comfortable Retirement (this is certainly the biggest one - and perhaps the...
by JDCarpenter
Fri Jun 23, 2017 3:27 pm
Forum: Personal Investments
Topic: Advice with retirement planning and investments
Replies: 9
Views: 1245

Re: Advice with retirement planning and investments

I'm in the "put it in immediately" camp. If you don't want to do that, there are good behavioral arguments for doing set-in-advance dollar cost averaging; say, 5% each month beginning July 1. This raises the question though of whether 75/25 is the appropriate asset allocation for you. If you are at...
by JDCarpenter
Fri Jun 23, 2017 11:23 am
Forum: Personal Investments
Topic: Advice with retirement planning and investments
Replies: 9
Views: 1245

Re: Advice with retirement planning and investments

... Desired Asset allocation: 75% stocks / 25% bonds Desired International allocation: 30% of stocks ... About me I have never really paid attention to my retirement planning. I am a big procrastinator and not disciplined when it comes to investing. I am also a very impulsive person and every so of...
by JDCarpenter
Thu Jun 22, 2017 12:35 pm
Forum: Personal Investments
Topic: Early retirement
Replies: 21
Views: 4949

Re: Early retirement

I forgot the author, but he researched Safe Withdrawal Rates and determined that your age divided by 20 yields a SWR. He determined that there has never been a period of time since the modern stock market where assets were ever depleted at this rate. In other words, the 4% rule works at the age of ...
by JDCarpenter
Thu Jun 22, 2017 7:43 am
Forum: Personal Finance (Not Investing)
Topic: What does it mean to be a board-certified elder law attorney?
Replies: 10
Views: 1801

Re: What does it mean to be a board-certified elder law attorney?

I am looking for an estate attorney to help me with estate planning and I would prefer someone board-certified in elder law ..... Elder law is mainly Medicaid and guardianships. If you want someone to help you with your estate planning, you should look for a conventional trusts and estates lawyer. ...
by JDCarpenter
Wed Jun 21, 2017 5:36 pm
Forum: Personal Investments
Topic: Early retirement
Replies: 21
Views: 4949

Re: Early retirement

... We're in the 28% tax bracket. I currently hold intermediate term tax exempt and a state muni. Does our tax bracket justify the use of these? What is the yield on each of those funds? What is the yield on a comparably "safe" taxable fund? What is the yield on a US government bond fund that is no...
by JDCarpenter
Wed Jun 21, 2017 12:35 pm
Forum: Personal Investments
Topic: Early retirement
Replies: 21
Views: 4949

Re: Early retirement

Here are a couple of places to start reading, from the wiki: https://www.bogleheads.org/wiki/Tax-efficient_fund_placement https://www.bogleheads.org/wiki/Early_retirement (talks about how to access funds if before 59.5) You mention "FRA," in connection with accessing the deferred accounts. FRA is ac...
by JDCarpenter
Tue Jun 20, 2017 3:50 pm
Forum: Personal Finance (Not Investing)
Topic: Widowed mother - siblings try to make a plan
Replies: 30
Views: 4177

Re: Widowed mother - siblings try to make a plan

... Outside of the family dynamics/issues, are there any financial considerations I am blind to in looking at this? When you consult the attorney, make sure to inquire as to whether the state in which your mother will reside with her youngest has a "filial responsibility" law with respect to nursin...
by JDCarpenter
Tue Jun 20, 2017 3:41 pm
Forum: Personal Finance (Not Investing)
Topic: Regret early retirement/downsizing
Replies: 230
Views: 55336

Re: Regret early retirement/downsizing

Question for those who retired "early". I am 61 and considering retirement (I can do it financially :happy ). Some writers on the subject say that you shouldn't just retire from something, you should have something to retire to. I have in mind the usual suspects: reading, volunteering, some travel,...
by JDCarpenter
Tue Jun 20, 2017 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Regret early retirement/downsizing
Replies: 230
Views: 55336

Re: Regret early retirement/downsizing

... Technically, we haven't retired yet--but our ~2 years of notice runs out next month. We are retiring to travel. Only have relatively detailed plans for 2 trips encompassing 5 months (2 this year, 3 next),.... Any live aboard trips planned? Right now, just 10 days on Naia in Fiji, and another 9 ...
by JDCarpenter
Tue Jun 20, 2017 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Regret early retirement/downsizing
Replies: 230
Views: 55336

Re: Regret early retirement/downsizing

Question for those who retired "early". I am 61 and considering retirement (I can do it financially :happy ). Some writers on the subject say that you shouldn't just retire from something, you should have something to retire to. I have in mind the usual suspects: reading, volunteering, some travel,...
by JDCarpenter
Mon Jun 19, 2017 5:26 pm
Forum: Personal Finance (Not Investing)
Topic: Siblings in disagreement over mom's house.
Replies: 241
Views: 31587

Re: Siblings in disagreement over mom's house.

... Family vs Family litigation is not a good thing, and the only advantages to arbitration that I can see for this situation is the likelihood possibility of somewhat reduced costs. At least in my practice (granted, commercial disputes), the "lower costs" of arbitration are present more in theory ...
by JDCarpenter
Mon Jun 19, 2017 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: "Wealth doesn't come with a handbook"
Replies: 2
Views: 1470

Re: "Wealth doesn't come with a handbook"

I read most of the article, but it's not something I can relate to since I don't have their problem. :beer We don't have that problem to anywhere near the same degree, but the thought process is familiar even at our level. When our kids were at home, how best to draw the line on spending? We never ...
by JDCarpenter
Mon Jun 19, 2017 5:16 pm
Forum: Personal Finance (Not Investing)
Topic: Full comprehensive or liability only?
Replies: 30
Views: 4102

Re: Full comprehensive or liability only?

If I can easily replace the car out of cash flow, we go liability only. Drove the last new/cheap one off the lot with that.

E.T.A.--lthenderson has a good point though, which we will consider when we start to travel more and rent more vehicles.
by JDCarpenter
Mon Jun 19, 2017 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Can One Keep Trial Deposits?
Replies: 30
Views: 6294

Re: Can One Keep Trial Deposits?

Amazingly, Bank of America gave me the 89 cents from the two trial deposits in my new Ally account this year. (Vanguard yanked them back quickly.)
by JDCarpenter
Mon Jun 19, 2017 11:11 am
Forum: Personal Finance (Not Investing)
Topic: What Car Should I Buy My Daughter as a Graduation Present
Replies: 150
Views: 16235

Re: Any BHs Had Experience With the Honda Fit?

Pros: -I am 5'11" and have plenty of room. -TONS of storage space with the seats folded down. "Most in class." e.g. Ikea queens size bed. Main reason I bought it-- I call it my mini-truck. Cons: - Poorer build quality than Toyota Corolla IMO [no problems that I've seen after 88K miles, but as noted...
by JDCarpenter
Mon Jun 19, 2017 7:40 am
Forum: Personal Finance (Not Investing)
Topic: What Car Should I Buy My Daughter as a Graduation Present
Replies: 150
Views: 16235

Re: Any BHs Had Experience With the Honda Fit?

I have a 2012 Fit, base trim, with manual tranny--my first new car (at age 52). Currently has 88,000 miles on it. Average 39-44 mpg in mixed, commuting driving. (Way more than the EPA estimates.) Haven't noticed much noise at less than 70 miles per hour, except when accelerating. Above 70 on multist...
by JDCarpenter
Sun Jun 18, 2017 10:21 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 502
Views: 139162

Re: Bank of America/Merrill Edge - Preferred Rewards

tooluser wrote:Any idea whether/when the Merrill Edge signup bonus will increase to $1000 as it has done in the past? Is there a historical time frame?
If he doesn't respond, you should PM Earl Lemongrab. I think he likely knows of the tendencies...
by JDCarpenter
Sun Jun 18, 2017 2:31 pm
Forum: Personal Consumer Issues
Topic: My Wife is having our 5th child. What is an appropriately extravagant push gift?
Replies: 90
Views: 11987

Re: My Wife is having our 5th child. What is an appropriately extravagant push gift?

#5 was born early Wednesday morning. My wife did amazingly, and delivered a beautiful, healthy baby girl. I opted to get her the bottle of wine, which was only $36. I'm not sure why I thought it was $80 maybe that was a different year. I think when they get close to running out of a particular year...
by JDCarpenter
Sun Jun 18, 2017 12:54 pm
Forum: Personal Consumer Issues
Topic: Alternatives to Amazon, Freebooksy, Bookbub, etc.
Replies: 15
Views: 2721

Re: Alternatives to Amazon, Freebooksy, Bookbub, etc.

gutenberg.org Note that other countries typically have shorter copyright duration than the US; Thanks, Mickey! (just for example, Australia and Canada have their own gutenberg projects, albeit with smaller holdings) These aren't options for cutting edge nonfiction, but I've been happy with these sou...
by JDCarpenter
Fri Jun 16, 2017 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Regret early retirement/downsizing
Replies: 230
Views: 55336

Re: Regret early retirement/downsizing

... Not like I don't deserve it, I often laugh at myself on the topic. Actually I have started noticing some behaviors in myself that lead me to believe that I am moving towards the end faster than I would want to acknowledge. I outlined some of the reasons in the "Bored with investing" thread. I w...
by JDCarpenter
Fri Jun 16, 2017 10:41 am
Forum: Personal Finance (Not Investing)
Topic: Regret early retirement/downsizing
Replies: 230
Views: 55336

Re: Regret early retirement/downsizing

.....retired at age 56........... My wife said "Watcha doing today?" I said "Nothing" She said.... "You did that yesterday". I said "I wasn't finished" I think you just delayed my retirement by at least 18 months. Thanks a lot. Not again! :D (I keed, I keed. :beer )
by JDCarpenter
Fri Jun 16, 2017 10:30 am
Forum: Personal Investments
Topic: Parent's Portfolio
Replies: 12
Views: 2088

Re: Parent's Portfolio

Are they eligible for Social security? If so, is the lower income-earner drawing now? That might eliminate some/much of any desire/need for a dedicated cash amount. (I count VFSUX as a short term cash-like reserve myself, while recognizing that it is not truly cash, as shown by its short term hit in...
by JDCarpenter
Thu Jun 15, 2017 8:49 am
Forum: Personal Investments
Topic: Retiree needs help
Replies: 5
Views: 1204

Re: Retiree needs help

That's a lot of funds for your spouse to get a handle on. If not the Personal Advisory services, I'd consider going 2 or 3 fund approach, with the money market fund (or a bank account) being used to sweep dividends/interest into for spending. (And, any sale proceeds when cashing out for spending.) ...
by JDCarpenter
Wed Jun 14, 2017 4:04 pm
Forum: Personal Investments
Topic: Retiree needs help
Replies: 5
Views: 1204

Re: Retiree needs help

That's a lot of funds for your spouse to get a handle on. If not the Personal Advisory services, I'd consider going 2 or 3 fund approach, with the money market fund (or a bank account) being used to sweep dividends/interest into for spending. (And, any sale proceeds when cashing out for spending.) D...
by JDCarpenter
Sat Jun 10, 2017 11:52 pm
Forum: Personal Consumer Issues
Topic: Help me choose an EXPENSIVE* red wine for a gift
Replies: 69
Views: 17270

Re: Help me choose an EXPENSIVE* red wine for a gift

,,, Thanks EVERYONE for your help. I learned a lot reading about wines, regions, history, etc. But I didn't really taste any in the process, and most likely will stick to $20 bottle for my personal drinking. My "splurge" funds are already accounted for! :D :D Neurosphere You are not in the demograp...
by JDCarpenter
Fri Jun 09, 2017 3:55 pm
Forum: Personal Consumer Issues
Topic: Help me choose an EXPENSIVE* red wine for a gift
Replies: 69
Views: 17270

Re: Help me choose an EXPENSIVE* red wine for a gift

They are a different taste, but Sauternes, TBAs/BAs, Tokaji, and many eisweins are loaded with sugar and can age spectacularly. Acronym decoder from an authoritative source: Glossary | Learn Wine | Wine Spectator BA = Beerenauslese TBA = Trockenbeerenauslese ... Thanks for that pickup/clarification...
by JDCarpenter
Fri Jun 09, 2017 1:57 pm
Forum: Personal Consumer Issues
Topic: Help me choose an EXPENSIVE* red wine for a gift
Replies: 69
Views: 17270

Re: Help me choose an EXPENSIVE* red wine for a gift

... Stay away from sugar in wine? Again...this is very bad advice. If producers use sugar properly - such as many of the traditional German Mosel Riesling producers (JJ Prum being a good example...) - wines of world class quality can be produced. Lesson #1 about wine is that blanket statements like...
by JDCarpenter
Fri Jun 09, 2017 1:51 pm
Forum: Personal Consumer Issues
Topic: When the Gospel of Minimalism Collides With Daily Life
Replies: 5
Views: 2164

Re: When the Gospel of Minimalism Collides With Daily Life

I'm a comfortablist. .... Nice. I like that term; fits us as well. Of course, it is dependent upon one's environment. I have a lot more stuff on our big house on a small farm than I'll have whenever it is that we sell the acreage and move into the city core--but we'll still have the same comfortabi...
by JDCarpenter
Wed Jun 07, 2017 7:44 am
Forum: Personal Consumer Issues
Topic: Help me choose an EXPENSIVE* red wine for a gift
Replies: 69
Views: 17270

Re: Help me choose an EXPENSIVE* red wine for a gift

... I was in the retail wine business for 42 years. Bordeaux was my specialty. From the choices on your list I'd go with the Lynch Bages 1995 or Ducru Beaucaillou 1995. Both are mature and absolutely delicious now. VinhoVerde Cool! Thanks for the suggestions... :beer (imagine a wine glass instead o...
by JDCarpenter
Tue Jun 06, 2017 4:32 pm
Forum: Personal Consumer Issues
Topic: Flying first class, business, versus economy.
Replies: 184
Views: 26020

Re: Flying first class, business, versus economy.

For us, it is an age thing. In our 20s-40s, we never paid to fly anything other than the cheapest coach seats we could get--even with incomes that most would consider high. Now it is a different story (mid 50s, DW with a touch of arthritis, nearing retirement....) Last pacific trip (Fiji, with tight...
by JDCarpenter
Tue Jun 06, 2017 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Play Money for Spouse....
Replies: 138
Views: 15638

Re: Play Money for Spouse....

ColoradoRick wrote:OP - sounds like through the thread you are on the right path. I'll give you our personal experience just for laughs.

...

I think women people don't want to feel like they have to go to "daddyParent" for money. Anyway, after a bumpy couple of years we are both happy.
:beer
by JDCarpenter
Tue Jun 06, 2017 3:04 pm
Forum: Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 83
Views: 24025

Re: High Income Earner Humbly Seeks Advice

60% Total Stock Market 20% Total international 20% Intermediate tax exempt It's time to take action, this looks good. You can fiddle with it 10% here or there but it's basically fine however you do it now. .... Yep. We can quibble all day, particularly on international. But the worst enemy of a goo...
by JDCarpenter
Mon Jun 05, 2017 2:24 pm
Forum: Personal Investments
Topic: Received inheritance, feel paralyzed as to what to do next
Replies: 16
Views: 2854

Re: Received inheritance, feel paralyzed as to what to do next

skillet wrote:...they wonder why you aren't [doing finances the way they are], but that's just not who we are. And we're okay with it. ;)
That final line could likely be applied to just about every active poster on this forum. Welcome to the club! :beer
by JDCarpenter
Sun Jun 04, 2017 11:33 am
Forum: Personal Investments
Topic: High Income Earner Humbly Seeks Advice
Replies: 83
Views: 24025

Re: High Income Earner Humbly Seeks Advice

Congrats for putting yourself in this position. (Wow!) First question: What are your goals for which you are accumulating your assets? If, for an extreme example, your goal were early retirement, you are [hypothetically] almost there, if you keep the $70,000 post-tax spending going forward and get t...
by JDCarpenter
Sat Jun 03, 2017 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Academic Question on a real world situation
Replies: 34
Views: 4047

Re: Academic Question on a real world situation

Going back to the paper about safe withdrawal rates in foreign countries and only 4/17 supporting 4%, is this saying that conditions in all those countries were worse than the Great Depression at some point?! That returns were worse than 66-82? Seems to me like we have better protections against th...
by JDCarpenter
Sat Jun 03, 2017 1:26 pm
Forum: Personal Finance (Not Investing)
Topic: Name Change
Replies: 9
Views: 1177

Re: Name Change

Do whatever you like. Sounds like you are transitioning to new name.... DW and I have different last names as we didn't want to mess with it in medical school (and her dad enjoyed referring to Dr. His-Last-Name). We both answered socially to Mr./Mrs. other last name, as well as our own when the boys...
by JDCarpenter
Sat Jun 03, 2017 1:19 pm
Forum: Personal Investments
Topic: Roth IRA Conversion Calculator
Replies: 9
Views: 1318

Re: Roth IRA Conversion Calculator

TT, if it applies to you, remember that Medicare Parts B and others are priced in tiers . You don't want to push yourself into a higher tier with Roth conversions. So be careful when converting up to the top of a tax bracket - that may be into the next tier for Medicare premiums. I have seen this a...