Search found 2199 matches

by Bacchus01
Fri Dec 07, 2018 12:23 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12436

Re: Why Retirement Is Broken And Needs To Be Reinvented

The problem is that many (most?) pensions were underfunded due to overly optimistic return projections by those running them. The only solutions are to (1) reduce benefits, which may not be feasible, (2) increase current contributions, or (3) both. Public pensions are underfunded because of this. M...
by Bacchus01
Fri Dec 07, 2018 12:21 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12436

Re: Why Retirement Is Broken And Needs To Be Reinvented

The article is mostly okay, but I strongly disagree that the problem is a shift from income to assets, (and I suspect Merton is plugging his financial services). After all you can convert between assets and income. The real problems with pensions in their current form, and the reason they should re...
by Bacchus01
Thu Dec 06, 2018 9:29 pm
Forum: Investing - Help with Personal Investments
Topic: What to do if expected income MIGHT phase out for Roth IRA
Replies: 7
Views: 836

Re: What to do if expected income MIGHT phase out for Roth IRA

pdavi21 wrote:
Thu Dec 06, 2018 9:28 pm
Just backdoor it, or take the risk and ROTH it with the option to recharacterize as Trad and backdoor it if required.

Same question came up literally yesterday.
This.

Backdoor Roth takes about 5 extra minutes.
by Bacchus01
Thu Dec 06, 2018 9:23 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12436

Re: Why Retirement Is Broken And Needs To Be Reinvented

Social Security is not a pension plan, it is insurance. [...] It’s sort of astonishing how little people really know about a program that has been in existence since the early 1930’s. My own grandparents referred to Social Security as the “monthly pension”. It seems like a distinction without a dif...
by Bacchus01
Thu Dec 06, 2018 8:41 pm
Forum: Investing - Help with Personal Investments
Topic: Capital Gain and Tax Loss Harvesting
Replies: 10
Views: 797

Re: Capital Gain and Tax Loss Harvesting

Capital losses carry over forever, and in addition you can carry over 3k to apply against ordinary income, so you can’t waste a loss. The OP has a capital gain that falls in the 0% capital gain bracket. A capital loss must first offset capital gains before it can be applied against ordinary income,...
by Bacchus01
Thu Dec 06, 2018 8:34 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12436

Re: Why Retirement Is Broken And Needs To Be Reinvented

The article is mostly okay, but I strongly disagree that the problem is a shift from income to assets, (and I suspect Merton is plugging his financial services). After all you can convert between assets and income. The real problems with pensions in their current form, and the reason they should re...
by Bacchus01
Thu Dec 06, 2018 8:33 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12436

Re: Why Retirement Is Broken And Needs To Be Reinvented

Where does that 15% saving figure comes from ? Certainly, it can be correct independently of one's salary and retirement expenses... Nothing wrong with using a percentage of your earnings, irregardless of salary level, especially for a rule of thumb. Someone making $1M and saving 15% spends the sam...
by Bacchus01
Thu Dec 06, 2018 8:31 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12436

Re: Why Retirement Is Broken And Needs To Be Reinvented

Knowing and doing are totally different. People know that they should save money. But, they are not willing to compromise on their current lifestyle in order to save. The typical person does not know that they need a $1 million portfolio to provide $40k of income for 30 years (more or less). They a...
by Bacchus01
Thu Dec 06, 2018 8:29 pm
Forum: Investing - Theory, News & General
Topic: Why Retirement Is Broken And Needs To Be Reinvented
Replies: 174
Views: 12436

Re: Why Retirement Is Broken And Needs To Be Reinvented

The article is mostly okay, but I strongly disagree that the problem is a shift from income to assets, (and I suspect Merton is plugging his financial services). After all you can convert between assets and income. The real problems with pensions in their current form, and the reason they should re...
by Bacchus01
Thu Dec 06, 2018 1:56 am
Forum: Personal Consumer Issues
Topic: Best values at Costco? Honestly, a little disappointed...
Replies: 188
Views: 21009

Re: Best values at Costco? Honestly, a little disappointed...

The amount of money we save from Costco Travel PER YEAR is worth a few year's executive membership. Next time you rent a car, or go to Hawaii and Caribbean, just search all of the travel sites and compare it with Costco. For example, last year we went to Cayman, and the hotel price I got from Costc...
by Bacchus01
Wed Dec 05, 2018 3:05 pm
Forum: Investing - Help with Personal Investments
Topic: Considering residential real estate investment
Replies: 74
Views: 5349

Re: Considering residential real estate investment

Without arguing whether RE is good or bad, the deal the OP posted just doesn’t look very good. Sorry. But the 1% rule is one that is very common on bigger pockets. In fact, many live by the 2% rule. Most of those places are, frankly, slum lords. When you have to have a concealed carry license to col...
by Bacchus01
Wed Dec 05, 2018 2:53 pm
Forum: Personal Consumer Issues
Topic: Best values at Costco? Honestly, a little disappointed...
Replies: 188
Views: 21009

Re: Best values at Costco? Honestly, a little disappointed...

With three boys at home, two teenagers, we go to Costco at least once a week. We actually are one of the few that don’t like their meat. We don’t eat a lot of meat, but when we do we buy from the local grocer. Things we buy regularly: - Gas - I fill up 1-2 times per week - Dog food - Kirkland brand ...
by Bacchus01
Wed Dec 05, 2018 2:13 pm
Forum: Personal Consumer Issues
Topic: Best values at Costco? Honestly, a little disappointed...
Replies: 188
Views: 21009

Re: Best values at Costco? Honestly, a little disappointed...

The individual seasoned frozen salmon portions are great as well as the eggplan parm (which is on sale right now); also seltzer usually cheaper than in the store. Their sliced turkey packages and hummous are usually good deals as well, along with many of the cheeses. As others have said, you need t...
by Bacchus01
Wed Dec 05, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Renting out 1st first home; how to get mortgage for second?
Replies: 40
Views: 3426

Re: Renting out 1st first home; how to get mortgage for second?

What is your current mortgage holder going to think about you renting out your personal residence? Is that allowed in your mortgage? If not, you risk getting it called. As long as it was used as a primary residence for at least 6 months (1 year to be safe) no lender cares about it. They just want t...
by Bacchus01
Wed Dec 05, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Renting out 1st first home; how to get mortgage for second?
Replies: 40
Views: 3426

Re: Renting out 1st first home; how to get mortgage for second?

What is your current mortgage holder going to think about you renting out your personal residence? Is that allowed in your mortgage? If not, you risk getting it called. They don't care so long as you had the intent to move in at the time of purchase. Given the loan to value I'm guessing the OP has ...
by Bacchus01
Wed Dec 05, 2018 7:31 am
Forum: Investing - Theory, News & General
Topic: HSA employee contributions subject to FICA?
Replies: 42
Views: 2973

Re: HSA employee contributions subject to FICA?

Seriously? A refund on your tax return. Exactly like what happens if you work two jobs and overpay FICA. You get a return. The method already exists. I accept your premise that it is technically feasible to implement a FICA refund on form 1040, but standby my assessment that it is never going to ha...
by Bacchus01
Wed Dec 05, 2018 7:29 am
Forum: Personal Finance (Not Investing)
Topic: NYT Article: The Myth of Steady Retirement Spending
Replies: 50
Views: 7103

Re: NYT Article: The Myth of Steady Retirement Spending

I'm a homebody who is also a globe trotter, and I'm a foodie. I may or may not become a healthcare spender,. Since you didn't perform cluster analysis on yourself using the proprietary JP Morgan dataset we know your claims are without basis. I don't understand why you are so upset with this study t...
by Bacchus01
Wed Dec 05, 2018 7:27 am
Forum: Personal Consumer Issues
Topic: Quality Kitchen Faucet Recommendations?
Replies: 36
Views: 2861

Re: Quality Kitchen Faucet Recommendations?

Thank you everyone for your suggestions! Very helpful. Regarding: Re: Quality Kitchen Faucet Recommendations? Post Mon Dec 03, 2018 5:10 pm lthenderson wrote: ↑ URSnshn wrote: ↑ Your recommendations and thoughts would be appreciated. Rather than brand suggestions, I would advice you to find a dedic...
by Bacchus01
Mon Dec 03, 2018 4:12 pm
Forum: Personal Finance (Not Investing)
Topic: NYT Article: The Myth of Steady Retirement Spending
Replies: 50
Views: 7103

Re: NYT Article: The Myth of Steady Retirement Spending

"One of her firm’s studies grouped 613,000 JPMorgan Chase customers into profiles based on their spending patterns. These included homebodies, globe-trotters, health care spenders and foodies. It’s worth figuring out which profile matches your spending, said Wade Pfau, a professor at the American C...
by Bacchus01
Mon Dec 03, 2018 4:10 pm
Forum: Personal Consumer Issues
Topic: Quality Kitchen Faucet Recommendations?
Replies: 36
Views: 2861

Re: Quality Kitchen Faucet Recommendations?

Your recommendations and thoughts would be appreciated. Rather than brand suggestions, I would advice you to find a dedicated plumbing supply company and skip buying them at big box stores. Moen and Delta both make cheap faucets that they sell exclusively to big box stores. I'm not saying you can't...
by Bacchus01
Mon Dec 03, 2018 4:09 pm
Forum: Personal Consumer Issues
Topic: Quality Kitchen Faucet Recommendations?
Replies: 36
Views: 2861

Re: Quality Kitchen Faucet Recommendations?

mtmingus wrote:
Sun Dec 02, 2018 6:42 pm
According to some pros:
Delta faucets;
Moen Cartridges (therefore faucets);
Kohler toilets/sinks;
This is probably right, but I’d go Grohe on kitchen sink if budget allows.
by Bacchus01
Mon Dec 03, 2018 4:05 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Price vs. Gross Income
Replies: 59
Views: 4414

Re: Home Purchase Price vs. Gross Income

Reading threads with conversations about setting yourself/family up for financial success even through hard times, I’m curious what other Boglegeads ratio of home purchase price is vs. gross income and whether you live in a LCOL, MCOL or HCOL. For my family, it was about 1.93x at time of purchase a...
by Bacchus01
Mon Dec 03, 2018 4:02 pm
Forum: Personal Finance (Not Investing)
Topic: Do you get a year end bonus?
Replies: 78
Views: 5302

Re: Do you get a year end bonus?

Apologize for the rant, Im seriously amazed at the people who land these jobs that get these bonuses. It is safe to say I was/will never be lucky with the job market. Went to undergrad with a degree in business, went to grad school with a degree in healthcare admin, couldnt find a job to save my li...
by Bacchus01
Mon Dec 03, 2018 3:54 pm
Forum: Personal Consumer Issues
Topic: Retired in your late 40s or early 50s?
Replies: 87
Views: 14396

Re: Retired in your late 40s or early 50s?

I was reading this thread thinking “I need to pick up some good advice for when I’m in my late 40s or early 50s” to retire.

Then I realized I’m 45 and wife is 50 in January and we are already in this group.

I’m looking long and hard at retirement at 47.
by Bacchus01
Mon Dec 03, 2018 3:47 pm
Forum: Personal Finance (Not Investing)
Topic: Megacorp vs Small Company
Replies: 23
Views: 1993

Re: Megacorp vs Small Company

Changing companies is hard work. Very hard work.

I’ve never done it and likely would never do it for less than 25% more in total comp. it’s just too much work.
by Bacchus01
Mon Dec 03, 2018 3:01 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Price vs. Gross Income
Replies: 59
Views: 4414

Re: Home Purchase Price vs. Gross Income

Reading threads with conversations about setting yourself/family up for financial success even through hard times, I’m curious what other Boglegeads ratio of home purchase price is vs. gross income and whether you live in a LCOL, MCOL or HCOL. For my family, it was about 1.93x at time of purchase a...
by Bacchus01
Mon Dec 03, 2018 2:48 pm
Forum: Personal Finance (Not Investing)
Topic: Home Purchase Price vs. Gross Income
Replies: 59
Views: 4414

Re: Home Purchase Price vs. Gross Income

This house when bought was around 2.8X and I would have gladly gone higher had we not also had another house trying to sell.

Now it’s worth .85X of gross, but that’s because gross ha grown way faster than house value. That’s over 8 years.
by Bacchus01
Mon Dec 03, 2018 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Retirement itch- when did you get it?
Replies: 145
Views: 14563

Re: Retirement itch- when did you get it?

joeblow wrote:
Sun Dec 02, 2018 8:46 pm
Age 40. Made changes to speed the process along. Now it hits me every morning about 7:00 am. Plan to be out sometime between 50 and 55.
This is me. And at 45 I’m not sure 50 is soon enough
by Bacchus01
Mon Dec 03, 2018 8:03 am
Forum: Investing - Theory, News & General
Topic: HSA employee contributions subject to FICA?
Replies: 42
Views: 2973

Re: HSA employee contributions subject to FICA?

If there is a tax law that should be changed it is that HSA is only FICA deductible through payroll deduction. I suspect the transaction costs for the employer/administrator go down without it and competitiveness would go up. I’d move to Fidelity (or preferably vanguard) in a heartbeat of it was ch...
by Bacchus01
Mon Dec 03, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Renting out 1st first home; how to get mortgage for second?
Replies: 40
Views: 3426

Re: Renting out 1st first home; how to get mortgage for second?

What is your current mortgage holder going to think about you renting out your personal residence? Is that allowed in your mortgage? If not, you risk getting it called. They don't care so long as you had the intent to move in at the time of purchase. Given the loan to value I'm guessing the OP has ...
by Bacchus01
Sun Dec 02, 2018 11:02 am
Forum: Personal Consumer Issues
Topic: Why is Costco gas so much cheaper
Replies: 119
Views: 10804

Re: Why is Costco gas so much cheaper

I just checked my nearest Costco (Brentwood, TN) gas prices online. They are $2.07 for regular and $2.45 for premium. The Costco website also lists the prices at six nearby major brand gas stations with their price for regular being $2.75. I did not realize there is such a differential. And you'll ...
by Bacchus01
Sun Dec 02, 2018 11:01 am
Forum: Personal Consumer Issues
Topic: Why is Costco gas so much cheaper
Replies: 119
Views: 10804

Re: Why is Costco gas so much cheaper

Oh, I need to fill up on gas. Costco is nearby. They always have the lowest price. Not by much, but still, penny saved is a penny earned. [go to Costco gas, fill-up, save $1.50 on gas] Oh what’s that on the bottom of the receipt? If i show the receipt in the store, I can save $1.50? Good deal. Hmm,...
by Bacchus01
Sun Dec 02, 2018 9:57 am
Forum: Personal Consumer Issues
Topic: Calling all 50-60 year old homeowners with kids/families
Replies: 36
Views: 4208

Re: Calling all 50-60 year old homeowners with kids/families

We’re not there yet, although wife will be 50 in Jan.

We are about to spend $50K on a master bathroom remodel and probably another $25k+ to freshen up the basement (which is fully remodeled).

I have some anxiety but I know we will love it and get way more use out of the basement than we do today.
by Bacchus01
Sun Dec 02, 2018 9:50 am
Forum: Personal Finance (Not Investing)
Topic: Do you get a year end bonus?
Replies: 78
Views: 5302

Re: Do you get a year end bonus?

Congrats! It’s good that the economy is doing well and hopefully you will invest some and spend some (keep that economy going!)

I get mine in April. I won’t share details but it’s sizable.
by Bacchus01
Sun Dec 02, 2018 9:48 am
Forum: Investing - Theory, News & General
Topic: HSA employee contributions subject to FICA?
Replies: 42
Views: 2973

Re: HSA employee contributions subject to FICA?

If there is a tax law that should be changed it is that HSA is only FICA deductible through payroll deduction. I suspect the transaction costs for the employer/administrator go down without it and competitiveness would go up. I’d move to Fidelity (or preferably vanguard) in a heartbeat of it was cha...
by Bacchus01
Sun Dec 02, 2018 9:45 am
Forum: Personal Finance (Not Investing)
Topic: 529 Plan Worth It?
Replies: 16
Views: 1257

Re: 529 Plan Worth It?

Our flagship state school does not provide ANY merit based scholarships. As for the 529, I would not do it without a state income tax deduction. We use ours as a generational wealth transfer tool. As our children may not need all the funds, we will move them to our grandchildren. The best gift we ca...
by Bacchus01
Sun Dec 02, 2018 9:41 am
Forum: Personal Consumer Issues
Topic: Please Recommend a New Car for Me
Replies: 53
Views: 4474

Re: Please Recommend a New Car for Me

sunny_socal wrote:
Sun Dec 02, 2018 7:40 am
Subaru
This is Bogleheads. You will likely get 70% recommendation for Subaru.

Frankly, I think they are right in this case. Crosstrek seems like a great choice.
by Bacchus01
Sun Dec 02, 2018 9:25 am
Forum: Investing - Help with Personal Investments
Topic: What is the lowest 'safe' emergency fund we should have?
Replies: 40
Views: 3977

Re: What is the lowest 'safe' emergency fund we should have?

I think your three months is fine. I might also suggest that you look at your emergency fund as something that could come from various places. We keep more in cash ($100K) but it’s mainly not for emergencies and more for a “able to spend it right now” ability. But to the point, we consider our emerg...
by Bacchus01
Sun Dec 02, 2018 9:17 am
Forum: Investing - Help with Personal Investments
Topic: Saving for Retirement when one has a Pension
Replies: 60
Views: 5951

Re: Saving for Retirement when one has a Pension

What about IRA (regular or ROTH) outside your employer plans? HSA? 529s? What marginal tax bracket are you in? This all matters. That said, I think most will advise you out more in. That’s the Bogleheads way. That said, I’d suggest using up as much tax-advantaged space as possible before after-tax, ...
by Bacchus01
Sun Dec 02, 2018 9:10 am
Forum: Personal Finance (Not Investing)
Topic: Renting out 1st first home; how to get mortgage for second?
Replies: 40
Views: 3426

Re: Renting out 1st first home; how to get mortgage for second?

What is your current mortgage holder going to think about you renting out your personal residence? Is that allowed in your mortgage? If not, you risk getting it called.
by Bacchus01
Sun Dec 02, 2018 9:00 am
Forum: Investing - Help with Personal Investments
Topic: Where to put "left over" money
Replies: 18
Views: 1873

Re: Where to put "left over" money

Vanguard Total Stock Market.
by Bacchus01
Sun Dec 02, 2018 8:12 am
Forum: Personal Consumer Issues
Topic: Yay Engineers!
Replies: 4
Views: 1541

Re: Yay Engineers!

What’s the action here? Relevance?
by Bacchus01
Sun Dec 02, 2018 7:31 am
Forum: Investing - Theory, News & General
Topic: HSA employee contributions subject to FICA?
Replies: 42
Views: 2973

Re: HSA employee contributions subject to FICA?

I think people also get caught up around every receipt. I invest in my HSA and pay OOP for all expense. At 45, married with three kids, we surprisingly have very few medical bills. I don’t keep every receipt. I do keep every large bill. So in a year I might have just two or three receipts to file aw...
by Bacchus01
Sun Dec 02, 2018 7:14 am
Forum: Personal Consumer Issues
Topic: Why is Costco gas so much cheaper
Replies: 119
Views: 10804

Re: Why is Costco gas so much cheaper

Oh, I need to fill up on gas. Costco is nearby. They always have the lowest price. Not by much, but still, penny saved is a penny earned. [go to Costco gas, fill-up, save $1.50 on gas] Oh what’s that on the bottom of the receipt? If i show the receipt in the store, I can save $1.50? Good deal. Hmm,...
by Bacchus01
Sun Dec 02, 2018 12:46 am
Forum: Investing - Help with Personal Investments
Topic: The Disaster That Is General Electric Company Stock
Replies: 53
Views: 10076

Re: The Disaster That Is General Electric Company Stock

The lesson should be that buying individual stocks takes uncompensated risk. An individual stock can go to zero. While that could happen to the entire stock market, it is dramatically less likely than it happening to an individual stock. I'm not sure what you mean by "uncompensated risk". People ha...
by Bacchus01
Sun Dec 02, 2018 12:43 am
Forum: Personal Consumer Issues
Topic: Why is Costco gas so much cheaper
Replies: 119
Views: 10804

Re: Why is Costco gas so much cheaper

It’s .01 cheaper here
by Bacchus01
Fri Nov 30, 2018 7:27 pm
Forum: Investing - Help with Personal Investments
Topic: For those of us that can't max contribute
Replies: 43
Views: 2738

Re: For those of us that can't max contribute

Is finding a new job an option?
by Bacchus01
Fri Nov 30, 2018 7:10 pm
Forum: Personal Consumer Issues
Topic: Cancun in January
Replies: 26
Views: 2668

Re: Cancun in January

Be wary of adulterated alcohol in Mexico. http://milwaukeejournalsentinel.wi.newsmemory.com/?publink=05c4f4bd6 Sad. Unfortunately that can happen a lot of places. There seem to be a number of issues this spring specific to Iberostar resorts. We are headed to the Hard Rock Riviera Maya Dec 20-25
by Bacchus01
Fri Nov 30, 2018 2:20 pm
Forum: Investing - Help with Personal Investments
Topic: backdoor roth and new limitation?
Replies: 15
Views: 1260

Re: backdoor roth and new limitation?

Could you explain what would prevent someone from doing a "mega backdoor Roth" we are doing our first one this year and I didn't think there was anything that could prevent it. Using next year's numbers, the most that can go into your 401k is $56k a year. If you put in $19k and your employer puts i...
by Bacchus01
Fri Nov 30, 2018 2:18 pm
Forum: Investing - Help with Personal Investments
Topic: Any single income earners with kids able to retire "early"?
Replies: 23
Views: 1607

Re: Any single income earners with kids able to retire "early"?

At 45 with 3 kids, 17, 13 and 9, we expect to be FI by end of next year and could legitimately RE at end of 2020, when I’m 47. Will we? Not sure. I doubt I hold out past 50 in megacorp world. While investing and living below your means clearly helps, making as much money as possible is as big or big...