Search found 1817 matches

by Bacchus01
Thu Jun 07, 2018 9:21 am
Forum: Personal Finance (Not Investing)
Topic: SS calculator for estimated amount $ working min years 40 quarters or fixed # of years
Replies: 12
Views: 1035

Re: SS calculator for estimated amount $ working min years 40 quarters or fixed # of years

... I am trying to find out ... the estimated amount of social security ( or PIA??) that I will get say if I only work 10-15 years instead of 30-35 years, but with decent earnings (not low wages) approx 90-120 K ... Below is a table showing the Primary Insurance Amount (PIA) for Case A from the Ben...
by Bacchus01
Thu Jun 07, 2018 7:36 am
Forum: Investing - Theory, News & General
Topic: Wade Pfau’s new book: How Much Can I Spend in Retirement?
Replies: 58
Views: 15315

Re: Wade Pfau’s new book: How Much Can I Spend in Retirement?

If people are looking for a book that will simply tell them what to do, then I don't think such a thing exists or ever will. How helpful Pfau's book is in the practical situation could be discussed. There are literally thousands of books that do that and there will be thousands more. The problem is...
by Bacchus01
Thu Jun 07, 2018 7:15 am
Forum: Personal Consumer Issues
Topic: What commuter car provides the best long term financial value?
Replies: 84
Views: 7465

Re: What commuter car provides the best long term financial value?

My vote is for a brand new, barebones Toyota Corolla or Honda Civic. Small sedans are steals right now in the new market. I recommend buying new with Honda or Toyota if you are going to drive into the ground since they depreciate so slowly (in fact, they sometimes don't depreciate at all for the fi...
by Bacchus01
Wed Jun 06, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Re: Prepping for College Fall 2019

Does the ACT score get him any sort of national merit semifinalist scholarship? It’s been long enough since I had to and will be long enough until I have to look at this again that I’m not current. While I infer you’re not scraping for money - rather trying to optimize - has your son looked into an...
by Bacchus01
Wed Jun 06, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 653
Views: 80559

Re: How much money do you need to retire?

Sorry, guys, those days are gone for today's wannabe retirees. Seems like everything that advances a person now first sets you back way too much, so the gain is minimized. What do you mean by this? Mainly I was thinking of educational opportunities and the rise of student debt. Also, the loss of em...
by Bacchus01
Wed Jun 06, 2018 10:01 am
Forum: Personal Finance (Not Investing)
Topic: Super funding 529
Replies: 16
Views: 2025

Re: Super funding 529

Is that a NY law that doesn’t allow carry forward? WI law allows carry forward up to 5 years of contributions.
by Bacchus01
Wed Jun 06, 2018 9:57 am
Forum: Investing - Theory, News & General
Topic: WSJ:Social Security Expected to Dip Into Its Reserves This Year
Replies: 61
Views: 3536

Re: Social Security crossover point has arrived

Raising the total SS taxable earnings, a lot, is one solution I would actually support despite it impacting me with limited value.
by Bacchus01
Wed Jun 06, 2018 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Re: Prepping for College Fall 2019

Has he considered Platteville at all? Their engineering program is just as good, if not better. Also is the cheapest four year UW school. I’m slightly biased as it’s where I went... He has. We’ve visited. We also have family in that area. Great regional engineering school. He’s not a “city kid” by ...
by Bacchus01
Tue Jun 05, 2018 9:19 pm
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Re: Prepping for College Fall 2019

This is probably different advice than most people would give but I think you'll get the most bang for your buck doing everything you can to keep him in state at UW-M (which he seems a near lock to get accepted to) than going to a private school or out of state (assuming those are worse from a valu...
by Bacchus01
Tue Jun 05, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Re: Prepping for College Fall 2019

529 paperwork is super easy if all withdrawals are qualified. You basically don’t report it on your tax form. Personally I prefer to withdraw from 529, even if you need to replenish it. Estate limit is so high (22 m for married couple) that you can contribute whatever amount. If you withdraw from 5...
by Bacchus01
Tue Jun 05, 2018 12:36 pm
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Re: Prepping for College Fall 2019

College soccer is an option at a smaller school. He has decided he does not want to play soccer and would prefer to focus on his school. I can't blame him for that, although Id love to see him continue. He'd like be D3, however, which does not offer athletic scholarships. Right. No scholarships, bu...
by Bacchus01
Tue Jun 05, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Re: Prepping for College Fall 2019

https://www.irs.gov/credits-deductions/individuals/aotc To add one to what Livesoft said, make sure you cash flow enough (not from the 529) to obtain the AOTC max. If your AGI is over (it likely could be), then this won't apply. Is playing college soccer an option? It could be a gateway to more gra...
by Bacchus01
Tue Jun 05, 2018 10:39 am
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Re: Prepping for College Fall 2019

You should have already read all of IRS Publication 970. There are lots of tax breaks when paying for education. You may not qualify because your income may be too high, but that's for you to figure out by reading IRS Publication 970. BTW, did I advise you to read IRS Publication 970. Yes, I did. S...
by Bacchus01
Tue Jun 05, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: Prepping for College Fall 2019
Replies: 32
Views: 2047

Prepping for College Fall 2019

Our oldest son is now a Senior in High School. We're deep into the planning process for schools. He's done well with a 3.9 unweighted GPA, 31 ACT, and about 10 honors/AP courses. Some extracurriculars, but not super heavy (4-year Varsity Soccer and 3X Captain, Club Soccer, some volunteering, has a f...
by Bacchus01
Mon Jun 04, 2018 5:26 pm
Forum: Investing - Theory, News & General
Topic: Dilemma: what if companies stopped going public?
Replies: 27
Views: 2961

Re: Dilemma: what if companies stopped going public?

Between the Sarbanes Oxley restrictions and other increasingly high costs of public company compliance, legal risks, etc, many of the better small companies are either not going public or trying to go private. On the other hand, private equity is awash in cheap capital looking to invest, and are ha...
by Bacchus01
Mon Jun 04, 2018 11:35 am
Forum: Investing - Theory, News & General
Topic: Dilemma: what if companies stopped going public?
Replies: 27
Views: 2961

Re: Dilemma: what if companies stopped going public?

Between the Sarbanes Oxley restrictions and other increasingly high costs of public company compliance, legal risks, etc, many of the better small companies are either not going public or trying to go private. On the other hand, private equity is awash in cheap capital looking to invest, and are ha...
by Bacchus01
Mon Jun 04, 2018 8:58 am
Forum: Investing - Help with Personal Investments
Topic: Good finance book for teenagers?
Replies: 14
Views: 2187

Re: Good finance book for teenagers?

Digging up an old thread. I love the options here. I have a 16 year old to-be Senior and want to give him some books for the summer on investing. Any updated suggestions?
by Bacchus01
Mon Jun 04, 2018 7:06 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 653
Views: 80559

Re: How much money do you want to retire?

We will have three pensions totaling about $45k/yr not cola, and SS of about $45k/yr. our expenses when the kids are out of the house are expected to be well below that, so it means we largely have to fund that time u til 65-70. Key questions that keep me thinking: medical costs, college costs, and...
by Bacchus01
Mon Jun 04, 2018 7:05 am
Forum: Personal Finance (Not Investing)
Topic: What is your Take Home Pay / Gross Pay ratio?
Replies: 89
Views: 8169

Re: What is your Take Home Pay / Gross Pay ratio?

It varies a huge amount throughout the year from 50-65%.
by Bacchus01
Sun Jun 03, 2018 10:54 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 653
Views: 80559

Re: How much money do you want to retire?

We will have three pensions totaling about $45k/yr not cola, and SS of about $45k/yr. our expenses when the kids are out of the house are expected to be well below that, so it means we largely have to fund that time u til 65-70. Key questions that keep me thinking: medical costs, college costs, and...
by Bacchus01
Sun Jun 03, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 653
Views: 80559

Re: How much money do you want to retire?

There are some absolutely beautiful LCOL (low cost of living) areas in this country. Most of the people who think they need 2-4 million live in HCOL (high cost of living) areas with high property taxes, etc. Are Denver or Portland LCOL? I can't think of a single truly LCOL area in the U.S. I would ...
by Bacchus01
Sat Jun 02, 2018 9:05 pm
Forum: Personal Finance (Not Investing)
Topic: How much money do you want to retire?
Replies: 653
Views: 80559

Re: How much money do you want to retire?

My goal was always $10M. I’m the last few years I’ve thought long and hard about $5M Lately, running I-Orp and others, seems like we need just $3.5M. We have about $2.75M today at age 44/49. We will have three pensions totaling about $45k/yr not cola, and SS of about $45k/yr. our expenses when the k...
by Bacchus01
Sat Jun 02, 2018 8:55 pm
Forum: Investing - Help with Personal Investments
Topic: HSA as retirement vehicle
Replies: 33
Views: 3417

Re: HSA as retirement vehicle

If you can cash flow it, you probably should cash flow it.

My order of investment:
- 401k pre-tax to the match
- HSA max
- 401k remainder to max
- Backdoor ROTH
- 529s
- NQ Deferred to get under tax threshold
- After-tax TSM/S&P
by Bacchus01
Sat Jun 02, 2018 6:44 pm
Forum: Investing - Theory, News & General
Topic: General Electric
Replies: 73
Views: 9581

Re: General Electric

No it's an opinion. Since it hasn't happened yet, it can't be a fact just yet. It may be proven "after the fact." But you could just be lucky in your prediction. That doesn't mean you get to make up things that haven't happened yet and call them facts. I'm not saying I disagree with your prediction...
by Bacchus01
Sat Jun 02, 2018 2:48 pm
Forum: Investing - Theory, News & General
Topic: General Electric
Replies: 73
Views: 9581

Re: General Electric

“It is very hard to predict, especially the future.” Niels Bohr That’s not a prediction. That’s a fact. No it's an opinion. Since it hasn't happened yet, it can't be a fact just yet. It may be proven "after the fact." But you could just be lucky in your prediction. That doesn't mean you get to make...
by Bacchus01
Sat Jun 02, 2018 2:47 pm
Forum: Investing - Help with Personal Investments
Topic: Thanks Bogleheads - Mega Backdoor Roth FTW
Replies: 25
Views: 2541

Re: Thanks Bogleheads - Mega Backdoor Roth FTW

I've said that the Mega Backdoor was the greatest thing I every read about on Bogleheads. I wish I had understood it prior to 2007, but the totality of things I didn't know before then could fill several books. In fact it did. I also wish Megacorp had allowed putting in more to after-tax. I think i...
by Bacchus01
Wed May 30, 2018 7:31 am
Forum: Investing - Theory, News & General
Topic: General Electric
Replies: 73
Views: 9581

Re: General Electric

GE will get worse before it gets better “It is very hard to predict, especially the future.” Niels Bohr That’s not a prediction. That’s a fact. No it's an opinion. Since it hasn't happened yet, it can't be a fact just yet. It may be proven "after the fact." But you could just be lucky in your predi...
by Bacchus01
Wed May 30, 2018 7:28 am
Forum: Investing - Theory, News & General
Topic: Index fund investing requires active management
Replies: 10
Views: 2357

Re: Index fund investing requires active management

Without active management outside of the index, how does the index have value?
by Bacchus01
Tue May 29, 2018 7:51 pm
Forum: Investing - Theory, News & General
Topic: General Electric
Replies: 73
Views: 9581

Re: General Electric

arcticpineapplecorp. wrote:
Tue May 29, 2018 7:36 pm
Bacchus01 wrote:
Tue May 29, 2018 7:35 pm
GE will get worse before it gets better
“It is very hard to predict, especially the future.” Niels Bohr

That’s not a prediction. That’s a fact.
by Bacchus01
Tue May 29, 2018 7:36 pm
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 9084

Re: Can we retire in 2018?

Many think they can make 200k a year then live off of a very low income in retirment. I have read 70-80% of your salary should be replaced in retirement with your investment pension ect income. Sure one can make unreal income decisions and then relize they will run out of money if the market takes ...
by Bacchus01
Tue May 29, 2018 7:35 pm
Forum: Investing - Theory, News & General
Topic: General Electric
Replies: 73
Views: 9581

Re: General Electric

GE will get worse before it gets better
by Bacchus01
Tue May 29, 2018 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 9084

Re: Can we retire in 2018?

Many think they can make 200k a year then live off of a very low income in retirment. I have read 70-80% of your salary should be replaced in retirement with your investment pension ect income. Sure one can make unreal income decisions and then relize they will run out of money if the market takes ...
by Bacchus01
Tue May 29, 2018 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 9084

Re: Can we retire in 2018?

Healthcare would be a big question mark. Run it through I-Orp. Since you can essentially live SS income, you really just need to fund the next 15 years, and you can always take SS early if you get in a pinch. I think the calculator will say go for it. Before you do, consider working until your next ...
by Bacchus01
Mon May 28, 2018 1:52 pm
Forum: Personal Consumer Issues
Topic: Near commercial level treadmill
Replies: 36
Views: 3143

Re: Near commercial level treadmill

My Sole F70 lasted about 4K miles.

When it died we bought another one.
by Bacchus01
Sun May 27, 2018 7:06 am
Forum: Investing - Help with Personal Investments
Topic: Taking a pension to invest in stocks
Replies: 47
Views: 2763

Re: Taking a pension to invest in stocks

Of course his FA agrees, the FA then gets to invest more of his money.

Not enough info here. Taxation would be the big issue that could really erode his benefit.
by Bacchus01
Sat May 26, 2018 6:01 am
Forum: Personal Finance (Not Investing)
Topic: GEICO auto rates vs. USAA: too good to be true?
Replies: 184
Views: 35158

Re: GEICO auto rates vs. USAA: too good to be true?

After reading this thread I did an online quote for Geico. Wow! I had not previously shopped around much, but now we have a 16 year old driver on the house and our rates have skyrocketed with Allstate. Geico looks like it will be at least 60% less. Now I need to figure out homeowners. What do people...
by Bacchus01
Fri May 25, 2018 7:18 am
Forum: Investing - Help with Personal Investments
Topic: Do I pay towards my mortgage or invest?
Replies: 45
Views: 5048

Re: Do I pay towards my mortgage or invest?

A) You're doing it wrong if you got a refund B) I'm never a fan of paying off low-interest loans of any type. The environment right now (I know, timing) is especially true. It's unlikely that you won't be able to at least break even on investing versus paying down that debt over the 30 year horizon ...
by Bacchus01
Fri May 25, 2018 7:15 am
Forum: Personal Consumer Issues
Topic: When did this start?? [Restaurant tipping on total bill]
Replies: 58
Views: 4281

Re: When did this start??

I'm in the top 10% of income earners in the wealthiest country on the planet, and usually the person serving me food is working a crap job just to make ends meet and making less in tips in a day than I make in an hour. So I've always adopted the Dave Ramsey philosophy of being "Outrageously generou...
by Bacchus01
Fri May 25, 2018 6:17 am
Forum: Investing - Help with Personal Investments
Topic: Parents with pre-K kids and 529 target
Replies: 50
Views: 3366

Re: Parents with pre-K kids and 529 target

I have a different approach. We fund the max allowable each year to get our state tax deduction ($3100 per person) and we do it for each of our three kids and for us. Our plan is that we will do that for the rest of our lives as long as there is a tax benefit. Why? What doesn’t get used by our kids ...
by Bacchus01
Fri May 25, 2018 6:13 am
Forum: Personal Finance (Not Investing)
Topic: Deferred Compension tax treatment question
Replies: 21
Views: 1463

Re: Deferred Compension tax treatment question

I've been receiving deferred comp over a 15-year period that is paid in a lump sum in January and reported on a W-2. Itt is not considered "earned income" for IRS purposes, so you can't do an additional tax deferral through an IRA etc. ... Just in case you are from an aggressive tax state such as N...
by Bacchus01
Fri May 25, 2018 6:11 am
Forum: Personal Finance (Not Investing)
Topic: 529 vs Emergency Fund
Replies: 21
Views: 1650

Re: 529 vs Emergency Fund

I consider our Roth accounts as a part of our emergency fund. You can pull out the contributions tax-free and have access pretty quickly. If you used that thought process, I’d suggest you probably already have your emergency fund built or even overbuilt. If you don’t like that thinking, I’d still ke...
by Bacchus01
Thu May 24, 2018 10:48 am
Forum: Personal Finance (Not Investing)
Topic: Deferred Compension tax treatment question
Replies: 21
Views: 1463

Re: Deferred Compension tax treatment question

I've been receiving deferred comp over a 15-year period that is paid in a lump sum in January and reported on a W-2. Itt is not considered "earned income" for IRS purposes, so you can't do an additional tax deferral through an IRA etc. ... Just in case you are from an aggressive tax state such as N...
by Bacchus01
Thu May 24, 2018 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Deferred Compension tax treatment question
Replies: 21
Views: 1463

Re: Deferred Compension tax treatment question

Interesting topic and frankly one I had not considered. How is deferred compensation treated if it is taken prior to retirement? Specifically I have a small amount in a NQ plan, about $10K. My plan states that if I leave the company today (I’m not 55 and 10 years service) that the plan will be liqui...
by Bacchus01
Wed May 23, 2018 3:59 am
Forum: Investing - Help with Personal Investments
Topic: Should we max out all tax advantaged accounts?
Replies: 10
Views: 1915

Re: Should we max out all tax advantaged accounts?

Do you have an HSA? That should be a priority if available. Also, at what point do you drop to the 24% bracket? Once there, you may decide to do less tax deferred savings as you may end up in the 22/24% bracket in retirement so you aren’t really saving taxes and you may need to create more post tax ...
by Bacchus01
Tue May 22, 2018 9:38 pm
Forum: Personal Finance (Not Investing)
Topic: Quicken - Do you use it?
Replies: 59
Views: 4046

Re: Quicken - Do you use it?

I am interested in everyone's thoughts regarding Quicken and if they use (or don't use) the personal finance software. Why do you use (or not use) the program? What value does it bring? Do you use it for your entire financial picture or just your investment portfolio? I used to, but don’t anymore. ...
by Bacchus01
Tue May 22, 2018 6:08 pm
Forum: Investing - Theory, News & General
Topic: If RMD are large should you still defer into 401k
Replies: 32
Views: 3413

Re: If RMD are large should you still defer into 401k

RMDs sneak up in a lot of people. I don’t have exact calc in front of me, but we’re 45 with about $1M in 401k balances. With continued contributions and growth through age 65 and no withdraws before 70, the RMD is huge! One aspect of the RMD conversation that doesnt seem to get much attention is th...
by Bacchus01
Tue May 22, 2018 6:06 pm
Forum: Investing - Theory, News & General
Topic: If RMD are large should you still defer into 401k
Replies: 32
Views: 3413

Re: If RMD are large should you still defer into 401k

RMDs sneak up in a lot of people. I don’t have exact calc in front of me, but we’re 45 with about $1M in 401k balances. With continued contributions and growth through age 65 and no withdraws before 70, the RMD is huge! Depends on what you are making. In 25 years you will be in the 3-5 million real...
by Bacchus01
Tue May 22, 2018 6:02 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 50462

Re: "Why 97% of People Don't Use 529 College Savings Plans."

Realistically though just how many people make enough to fund one? I just see very very little use in doing one. You are talking about needing a minimum saving amount of 48,000 before it makes sense to save in one. On top of that many people who are able to save 48,000 per year may have after tax 4...
by Bacchus01
Mon May 21, 2018 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: When should we stop contributing to our 529?
Replies: 18
Views: 2155

Re: When should we stop contributing to our 529?

Based on your criteria, I would halt and let it ride. For us, we see the opportunity for a pseudo multigenerational education trust. We will put up to the state tax deduction for all eligible people for the rest of our life. Today that is roughly $3K per person per year. We contribute $3K for each o...
by Bacchus01
Mon May 21, 2018 5:18 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 50462

Re: "Why 97% of People Don't Use 529 College Savings Plans."

i don't understand why 529 threads always end up being so long. if you can max out your 401k, that alone puts you in the top 90th percentile of americans. add in maxing the IRA, probably bumps your into 95th percentile. add in maxing a HSA (stealth IRA) and yep, you're 97th percentile now. so if yo...