Search found 287 matches

by sixty40
Tue Sep 27, 2016 10:59 pm
Forum: Personal Consumer Issues
Topic: Home not to current code
Replies: 26
Views: 3347

Re: Home not to current code

From a code enforcement standpoint, there are no ramifications to your home being not up to “current” code if it is an existing structure/home that was in conformance with the code at the time it was built. Code enforcement will not randomly go to your home and do an inspection to make you bring you...
by sixty40
Mon Sep 26, 2016 11:49 pm
Forum: Personal Consumer Issues
Topic: Low voltage electrical question
Replies: 13
Views: 1686

Re: Low voltage electrical question

If you are concerned with voltage drop or ovrload, just cut off 24" or whatever is needed from the end or last leg of the 10/2 circuit, use it where you cut into the wire, then use the 12/2 at the end. There will be only 20 watts on the 12 gauge, no concern at all.
by sixty40
Sat Sep 24, 2016 11:11 am
Forum: Personal Investments
Topic: Email from Financial Advisor
Replies: 31
Views: 6666

Re: Email from Financial Advisor

Our company has American Funds (AF) R3 shares in our 401K, no front end and back end loads, just regular expense ratios typically at minimum 0.95% and higher. We do not have the Washington Mutual fund in our picks. Comparing 1-yr, 3-yr, 5-yr, 10-yr load adjusted returns with American Funds Retiremen...
by sixty40
Wed Sep 21, 2016 11:55 pm
Forum: Personal Consumer Issues
Topic: Advice on Smoke Detectors
Replies: 14
Views: 2297

Re: Advice on Smoke Detectors

My home is older and only had one hardwired smoke detector. Instead of wiring the other rooms I bought battery only (wireless) ones for each room and they are sychronized so when one goes into alarm they all do. They are by Kidde but others make them as well. So if you decide not to rewire, you can ...
by sixty40
Sat Sep 17, 2016 8:38 pm
Forum: Investing - Theory, News & General
Topic: Disappointing News Wells Fargo
Replies: 111
Views: 13525

Re: Disappointing News Wells Fargo

My mom used up be a teller at a big bank, since retired. Every so often she was given quotas on opening new accounts each month, with the threat of termination but never exactly stated as such. She was stressed many times. All my brothers and I opened accounts there just so she can meet the quota. W...
by sixty40
Sat Sep 17, 2016 8:21 pm
Forum: Investing - Theory, News & General
Topic: WSJ: Bank Balance better predictor of happiness than Total Wealth
Replies: 43
Views: 8871

Re: WSJ: Bank Balance better predictor of happiness than Total Wealth

We barely have more than $200 in our checking accounts at any given time. :D EVERYTHING goes into savings. If something comes up, we grudgingly pull it out from the savings. But we don't keep money unnecessarily in pitiful checking. I remember once finding an ATM slip at the local gas-beer-live bai...
by sixty40
Thu Sep 08, 2016 5:12 am
Forum: Personal Consumer Issues
Topic: Geico "Named Driver Exclusion" for College Student
Replies: 6
Views: 6268

Re: Geico "Named Driver Exclusion" for College Student

Desiderium, I would check with Geico again. I have Geico, We have one child in college and he lives near the campus. We live in northern CA and the college is in northern CA about 100 miles away. I called Geico and they lowered his rate by more than 1/2. He can drive anytime he wants no restrictions...
by sixty40
Thu Sep 08, 2016 5:02 am
Forum: Personal Finance (Not Investing)
Topic: Moving coverage from State Farm to GEICO
Replies: 16
Views: 3035

Re: Moving coverage from State Farm to GEICO

I moved to Geico a few yrs ago and have been very happy. By coincidence got into 2 accidents within 6 months of the new policy, both 100% fault of other party and have to say Geico handled it great. I had no money out of pocket and rates did not go up. I have auto and umbrella coverage. Umbrella is ...
by sixty40
Fri Sep 02, 2016 5:09 am
Forum: Personal Finance (Not Investing)
Topic: Should I buy cash or use a loan to buy a property
Replies: 15
Views: 2174

Re: Should I buy cash or use a loan to buy a property

I have the means to buy a new home for 500K cash. Should I buy the property in cash or get a loan (to reduce my taxes)? I am in my early 30s and am in the highest tax bracket and do not own another home. We were maybe in similar situation in 2003, but with only about $900k in liquid assets and buyi...
by sixty40
Thu Sep 01, 2016 10:05 pm
Forum: Personal Finance (Not Investing)
Topic: IRA in Trust?
Replies: 23
Views: 2393

Re: IRA in Trust?

When we set up our trust yrs back, the IRA could not be in the trust. In fact the primary beneficiary has to be your wife (or husband or sig other) unless they sign a document excluding thrmselves. The revocable trust is the contingent or secondary beneficiary if it is a married couple. That is what...
by sixty40
Wed Aug 31, 2016 6:14 pm
Forum: Personal Consumer Issues
Topic: Tips and surcharges
Replies: 52
Views: 5460

Re: Do you factor mandatory surcharges into gratuity?

Be careful, in certain restaurants they indicate the percentage of tip on the bill to assist you in tipping, but they include the tax as part of the percentage to tip. I have started seeing this more and more. So if your bill is $100 + $9 tax = $109, the bill will indicate 15% tip as $16.35, 18% tip...
by sixty40
Sun Aug 28, 2016 12:31 am
Forum: Personal Consumer Issues
Topic: Any Porsche 911 owners here?
Replies: 142
Views: 23321

Re: Any Porsche 911 owners here?

I've owned a 1996 911 C4S (993) since 2004, air cooled, a beautiful work of art. Current mileage is a little under 40k, and I only drive it about 1200 miles a year. Maintenance costs: - about $220 for oil change, every 1.5 yrs for me. - $400 to fix odometer. - a few hundred dollars to fix something ...
by sixty40
Fri Aug 19, 2016 11:38 pm
Forum: Investing - Theory, News & General
Topic: High RMD’s, would you do anything different?
Replies: 54
Views: 7973

Re: High RMD’s, would you do anything different?

OP here. Although I have $1.2M now in tax-deferred at 52, I am hoping that at age 70 even if I put nothing in, it will grow to $2.5M at least. But still, based on the responses, it does not appear to be an issue with high taxes due to RMD's. I will continue to contribute to our tax-deferred accounts...
by sixty40
Fri Aug 19, 2016 8:04 pm
Forum: Investing - Theory, News & General
Topic: High RMD’s, would you do anything different?
Replies: 54
Views: 7973

Re: High RMD’s, would you do anything different?

So in retirement in yrs after 70.5, is the idea to live off of social security and RMD's first, and then if additional income is needed, supplement with monies in one's taxable account?
by sixty40
Fri Aug 19, 2016 7:59 pm
Forum: Investing - Theory, News & General
Topic: High RMD’s, would you do anything different?
Replies: 54
Views: 7973

Re: High RMD’s, would you do anything different?

Very good points from all.

thx
by sixty40
Fri Aug 19, 2016 2:16 pm
Forum: Investing - Theory, News & General
Topic: High RMD’s, would you do anything different?
Replies: 54
Views: 7973

High RMD’s, would you do anything different?

I hope to phrase this correctly and do not mean to be snooty. I may have what some people would consider at “wealthy” person’s question. All of my wealth comes from hard work and lucky(good?) decisions, nothing inherited, immigrated to the US with my family when I was 7 yrs old, we were poor and liv...
by sixty40
Thu Jun 23, 2016 10:58 am
Forum: Personal Finance (Not Investing)
Topic: S-Corp Owners and payroll
Replies: 7
Views: 1323

Re: S-Corp Owners and payroll

For question #2: 2 of our S-corp company "owners" have high deductible health plans and have HSA accounts, they contribute after tax dollars to the account, and they deduct the amount from their taxes. They do not have it as a pre-tax payroll deduction, it seems like it would be allowed but I do not...
by sixty40
Thu Jun 23, 2016 10:46 am
Forum: Personal Finance (Not Investing)
Topic: S-Corp Owners and payroll
Replies: 7
Views: 1323

Re: S-Corp Owners and payroll

I can answer #4: Yes you can contribute to the 401k plan pretax like any other employee with the same contribution limits as any other employee.
by sixty40
Mon Mar 21, 2016 12:34 am
Forum: Personal Finance (Not Investing)
Topic: not filing CA state income tax if getting a small refund
Replies: 14
Views: 1460

Re: not filing CA state income tax if getting a small refund

Thanks for the replies, guess l will have him print and file or go to CA FTB website to see if he can file electronically for free.
by sixty40
Sun Mar 20, 2016 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: not filing CA state income tax if getting a small refund
Replies: 14
Views: 1460

Re: not filing CA state income tax if getting a small refund

It is a waste of your time to file, but it is not a waste of his time. Make him file. It will be a good learning experience for him and will cost nothing of your time and nothing of your money. And I made my son do his own taxes while he was home for Spring break. He did not tell me, "Gee thanks Da...
by sixty40
Sun Mar 20, 2016 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: not filing CA state income tax if getting a small refund
Replies: 14
Views: 1460

Re: not filing CA state income tax if getting a small refund

Must your son file by the CA FTB rules? See the following page: https://www.ftb.ca.gov/individuals/fileRtn/ If so, print it out and mail it in. (edit: typo fix) He only made $2500, well below the minimum $13,005 for Single filing. So maybe he does not need to file? Correction, I can claim him as a ...
by sixty40
Sun Mar 20, 2016 7:24 pm
Forum: Personal Finance (Not Investing)
Topic: not filing CA state income tax if getting a small refund
Replies: 14
Views: 1460

Re: not filing CA state income tax if getting a small refund

Does he qualify for the earned income credit? How's he going to declare obama care compliance? Try TurboTax. Supposedly free filing. https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp He does not qualify for earned income credit or obama care, he insured under our health plan. I act...
by sixty40
Sun Mar 20, 2016 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: not filing CA state income tax if getting a small refund
Replies: 14
Views: 1460

not filing CA state income tax if getting a small refund

My son is a full time student, 19-yrs old, and worked part time over the summer,about $2500 in wages. I just finished his taxes and for CA state income tax, he is getting a refund of $5.00. Electronic state filing thru turbotax costs around $25, and I just do not really want to print it out, have hi...
by sixty40
Tue Mar 08, 2016 12:16 am
Forum: Personal Investments
Topic: Buying a new home, questions and concerns
Replies: 13
Views: 2328

Re: Buying a new home, questions and concerns

YoungDentist, In the mid 1990’s we were in a similar position but with much lower income. My wife and I bought our home when I was 30 in 1994, 2000 sf 3br 1den 2ba new single story home in a new neighborhood for about $180k. We did not have kids at the time, and ultimately have 3 kids. The home work...
by sixty40
Sun Jan 24, 2016 3:05 am
Forum: Investing - Theory, News & General
Topic: Podcasts - financial
Replies: 14
Views: 2430

Re: Podcasts - financial

Paul Merriman podcasts.
by sixty40
Sun Jan 03, 2016 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: paid in 2015 but deposited in 2016
Replies: 6
Views: 1093

Re: paid in 2015 but deposited in 2016

We have a small s-corp, and close our office during holidays from 12/24 thru 12/31, we finalize the years’ books by 12/23, and we stop mail delivery on 12/23. Any checks received after we close our books in 2015 are deposited in 2016 and are part of 2016 revenues. I do not know how larger companies ...
by sixty40
Thu Dec 31, 2015 12:44 am
Forum: Personal Consumer Issues
Topic: Buying used car from dealer, tell me your strategy
Replies: 36
Views: 6092

Re: Buying used car from dealer, tell me your strategy

Terctun, I use a yahoo email address that basically I use for any type of informal correspondence, I use my real name, I do not give them my driver’s license number or any personal information, I do not give them my phone number until it is close to a done deal, I give them my city of residence, I t...
by sixty40
Wed Dec 30, 2015 9:37 pm
Forum: Personal Consumer Issues
Topic: Buying used car from dealer, tell me your strategy
Replies: 36
Views: 6092

Re: Buying used car from dealer, tell me your strategy

All of my cars have been used cars purchased from dealers. Most recently was in February of this year I bought a 2012 Camaro SS. First things first, decide what make/model as well as age/mileage range you want to buy. Decide which options are must have, and what are desired but not required. Then d...
by sixty40
Wed Dec 30, 2015 8:30 pm
Forum: Personal Consumer Issues
Topic: I would like to play the Boglehead car game too
Replies: 163
Views: 15495

Re: I would like to play the Boglehead car game too

I have not read all the responses, but have you considered buying the car you really like but not use it as a daily driver? My daily driver has been a 2004 Toyota Tacoma, and more recently a Prius. But I also have a very nice 1996 Porsche 911 C4S, last of the air cooled, in pristine condition. I bou...
by sixty40
Sat Nov 28, 2015 10:16 pm
Forum: Investing - Theory, News & General
Topic: Money Matters with Hanson & McClain
Replies: 3
Views: 1150

Re: Money Matters with Hanson & McClain

I enjoy listening to Money Matters with Hansen & McClain. I like the conversation and discussions/bantering between the 2. I think it is fairly informative but I have never taken their information to be 100% accurate, always took it with a grain of salt. I rarely listen to the radio broadcast and in...
by sixty40
Thu Oct 01, 2015 4:38 pm
Forum: Personal Consumer Issues
Topic: collector/exotic car insurance
Replies: 1
Views: 496

collector/exotic car insurance

Whom do you currently use, or have used, for this type of insurance and have you had an claims or issues with the company?

I have used Hagerty, currently using American Collectors, and is thinking of using Leyland West. The change is mainly to do with increased rates.

Thanks
by sixty40
Thu Sep 17, 2015 11:05 am
Forum: Personal Consumer Issues
Topic: Landscape lighting along driveway retainer wall
Replies: 3
Views: 841

Re: Landscape lighting along driveway retainer wall

I just built a retaining wall at my backyard and am also adding landscape lighting. I have a path planned and since low voltage (12V) landscape cable can be just buried 6"below grade, I did not install the cable during the wall installation. But again I have a path planned. I am using LED, but do no...
by sixty40
Wed Sep 16, 2015 5:54 pm
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

Re: food allowance $ for child in college

I am leaning toward the $10/day range and see how it goes. I was showing him how to cook fried rice, and I told him anything over rice is good, a 50 lb of rice is about $40 which should last him a while. He is rooming with 4 other boys in an apartment off-campus. I want and expect him to be cooking ...
by sixty40
Wed Sep 16, 2015 9:44 am
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

Re: food allowance $ for child in college

It seems that many posters said they dished out $10/day, and one $200/m which is about $6.70/day. These weren't subsidized by something else? In 2015 dollars? These seem a little low for food even if doing mostly cooking and not eating out, but maybe it is a start.
by sixty40
Wed Sep 16, 2015 9:32 am
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

Re: food allowance $ for child in college

My son is in his 2nd yr at UC Santa Cruz, living in an apartment with a few roommates. I was going to provide him $20/day for a food allowance, so for the fall quarter about $900. Is that too much, too little, any thoughts or what have you done for your child? Note that this is just for food, not f...
by sixty40
Tue Sep 15, 2015 11:41 pm
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

Re: food allowance $ for child in college

Thanks for all the replies, just wanted to see what others have done. I will probably go with somewhere between $10-$15 per day. I am giving him a lump sum or maybe an equiv amount per month for him to budget for the quarter. He worked over the summer personal expenses are on him. He is actually pre...
by sixty40
Tue Sep 15, 2015 11:32 pm
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

Re: food allowance $ for child in college

My son is in his 2nd yr at UC Santa Cruz, living in an apartment with a few roommates. I was going to provide him $20/day for a food allowance, so for the fall quarter about $900. Is that too much, too little, any thoughts or what have you done for your child? Note that this is just for food, not f...
by sixty40
Tue Sep 15, 2015 6:07 pm
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

Re: food allowance $ for child in college

Each UCSC quarter for 2015 - 2016 has 48 or 49 days of instruction spread over 10 or 11 weeks on-campus. The 7-Day Meal Plan handles all of them for the most part. A daily allowance of $20 would probably total around $1,400 for the quarter. Once kids experience the freedom of a parent-free existenc...
by sixty40
Tue Sep 15, 2015 6:05 pm
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

Re: food allowance $ for child in college

My son is in his 2nd yr at UC Santa Cruz, living in an apartment with a few roommates. I was going to provide him $20/day for a food allowance, so for the fall quarter about $900. Is that too much, too little, any thoughts or what have you done for your child? Note that this is just for food, not f...
by sixty40
Tue Sep 15, 2015 5:39 pm
Forum: Personal Consumer Issues
Topic: food allowance $ for child in college
Replies: 44
Views: 8227

food allowance $ for child in college

My son is in his 2nd yr at UC Santa Cruz, living in an apartment with a few roommates. I was going to provide him $20/day for a food allowance, so for the fall quarter about $900. Is that too much, too little, any thoughts or what have you done for your child? Note that this is just for food, not fo...
by sixty40
Fri Sep 11, 2015 11:25 pm
Forum: Personal Finance (Not Investing)
Topic: Life lessons: Making loans to friends. Insights? Revelations?
Replies: 191
Views: 25769

Re: Life lessons: Making loans to friends. Insights? Revelations?

I've heard that if you ever want to get someone out of your life for good, the easiest way is to lend them some money. Fortunately I have not needed to test that theory, but I keep it in mind just in case. :happy That's certainly been my experience. Lending money to friends is a sure way to alienat...
by sixty40
Wed Sep 09, 2015 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Life lessons: Making loans to friends. Insights? Revelations?
Replies: 191
Views: 25769

Re: Life lessons: Making loans to friends. Insights? Revelations?

I loaned my oldest brother $20k since he did not want to sell his investments to get the money. He told me he could pay me back within 6-months. I told him I will not charge him interest if he pays me back within 6-months, but after that it will be 5%. He agreed, and he paid me back within the 6-mon...
by sixty40
Fri Sep 04, 2015 10:43 am
Forum: Investing - Theory, News & General
Topic: Liquidate 401k to open IRA to Merrill Lynch
Replies: 9
Views: 986

Re: Liquidate 401k to open IRA to Merrill Lynch

Ughhh. One of the happiest days of my life was when I divorced my advisor and rolled everything out of Merill Lynch. Thankfully, I discovered fairly early in my investing career that it was either "dollars for me, or dollars for thee"' not both. I came to that conclusion back in 2001/2002 when the ...
by sixty40
Thu Sep 03, 2015 11:19 pm
Forum: Investing - Theory, News & General
Topic: Liquidate 401k to open IRA to Merrill Lynch
Replies: 9
Views: 986

Re: Liquidate 401k to open IRA to Merrill Lynch

Thanks for your replies, I thought as much on the liquidation of the 401k plan assets. We talked about share classes and loads, and it appears he will be put into class-A front loaded funds. His dad is with the same adviser and the adviser said my friend will get a break on fees (blah blah blah ...)...
by sixty40
Thu Sep 03, 2015 9:58 pm
Forum: Investing - Theory, News & General
Topic: Liquidate 401k to open IRA to Merrill Lynch
Replies: 9
Views: 986

Liquidate 401k to open IRA to Merrill Lynch

A neighbor friend of mine mentioned he was transferring his 401K from his former employer to Merrill Lynch (ML). He said the 401k had to be liquidated, then a check provided to ML, then ML will invest the proceeds over a 3-yr period. He wanted it all invested at once, but after some discussions with...
by sixty40
Thu Sep 03, 2015 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, same as contribution?
Replies: 23
Views: 1463

Re: Roth conversion, same as contribution?

Thanks DSInvestor for the fairmark site and all for your input.

I never heard of fairmark before this and it has good straightforward information. I think I will wait a couple more years until the 5 yrs is up on my initial conversion, seems less complicated that way.
by sixty40
Thu Sep 03, 2015 5:21 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, same as contribution?
Replies: 23
Views: 1463

Re: Roth conversion, same as contribution?

Thanks for the replies retiredjg & others, It seemed quite complicated to me when I was reading about it and trying to research it. It seem so complicated that it practically can prevent people (me) from doing it. I would imagine the tax forms associated with it will also be complicated. Does anyone...
by sixty40
Thu Sep 03, 2015 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, same as contribution?
Replies: 23
Views: 1463

Re: Roth conversion, same as contribution?

1) Do you have any ordinary contributions to Roth IRA? (Not back door, not rollover from IRA, not conversion). If you do, that money is available to you any time and you can take it and use it for whatever you want. But DO NOT take the earnings. Next is your conversions and rollovers. 2) What happe...
by sixty40
Thu Sep 03, 2015 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, same as contribution?
Replies: 23
Views: 1463

Re: Roth conversion, same as contribution?

Check out: http://www.doughroller.net/retirement-planning/the-5-year-rule-on-roth-ira-conversions/ So for #6, if I have not reached 59.5 and not meeting the 5-yrs rule, the amount that I originally contributed with after tax dollars to an IRA, then after conversion to Roth, those original contribut...
by sixty40
Thu Sep 03, 2015 2:57 pm
Forum: Personal Finance (Not Investing)
Topic: Roth conversion, same as contribution?
Replies: 23
Views: 1463

Re: Roth conversion, same as contribution?

Thanks for the replies. To answer some questions: - I am 51 yrs old - I converted the IRA to the Roth in 2012 - In 2013 and 2014, I opened and contributed to an IRA with after tax money, converted it immediately and combined it with the Roth that was converted in 2012. So not 5-yrs yet. I like to ha...