Search found 2319 matches

by Bacchus01
Sun Feb 03, 2019 1:30 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

The quality of education in those states is fantastic. The question wasn’t about choices. To think that you must go to Stanford to get a good education is insane. Most of the value of the education is in what the student puts into it. Define "fantastic". As I said, there are definitely public unive...
by Bacchus01
Sun Feb 03, 2019 12:24 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

Which states have limited choices for quality education? The flagship public university in most states is generally going to be pretty good. But if you're an exceptional student with a specific major in mind, a lower-population state might not have a public university that is genuinely nationally c...
by Bacchus01
Sun Feb 03, 2019 11:58 am
Forum: Personal Investments
Topic: 30 YO 2 Million to Invest
Replies: 56
Views: 6705

Re: 30 YO 2 Million to Invest

Keep it simple: Put the whole thing into VTI - total stock market index. That's what I would do at your age. Me too. I genuinely hope OP doesn’t blindly follow your irresponsible advices. Nothing irresponsible was said. 100% equity at 30 years old is totally reasonable. Nothing wrong with it at all...
by Bacchus01
Sun Feb 03, 2019 11:57 am
Forum: Personal Investments
Topic: 30 YO 2 Million to Invest
Replies: 56
Views: 6705

Re: 30 YO 2 Million to Invest

Can you elaborate on HOW you expect the kids to pay for their own college in the future? I’d like to know how a teenager can amass, let’s just call it 100k cash, to pay for it. Then I can get my kid started on saving for college. The same way we paid for it on the past. Scholarships, loans, working...
by Bacchus01
Sun Feb 03, 2019 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

I'm curious to hear how others on this forum are estimating future cost of college when it comes to their 529s. From my research: - 4 year cost for elite Private college in 2029 will be ~$500K - 4 year cost for good Public school (out of state) such as a Big Ten school will be ~$300K - 4 year in-st...
by Bacchus01
Sun Feb 03, 2019 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

.. I generally agree with the sentiment of those who seem to be arguing against me, in that I personally feel like saving for retirement SHOULD be a higher priority for most families than saving for college education. I don't think it's necessary to max out all possible tax-advantaged retirement ac...
by Bacchus01
Sun Feb 03, 2019 10:25 am
Forum: Personal Consumer Issues
Topic: Subwoofer for music recommendations
Replies: 17
Views: 1051

Re: Subwoofer for music recommendations

Apparently this is an SVS hype thread, so I am here to report I am satisfied with my SB-1000 as well. Am I done? Can I leave now? :D There really is no better value in subs. When you start getting into multi-sub massive home theater setups you might be able to find better, but not for the money.
by Bacchus01
Sun Feb 03, 2019 10:19 am
Forum: Investing - Theory, News & General
Topic: Do you still get Vanguard year-end statements?
Replies: 9
Views: 1064

Re: Do you still get Vanguard year-end statements?

All of my year-end forms are online.
by Bacchus01
Sun Feb 03, 2019 10:18 am
Forum: Personal Investments
Topic: Turning 40 and evaluating things.
Replies: 13
Views: 992

Re: Turning 40 and evaluating things.

I would suggest following the format outlined in the wiki. Then more clearly articulate your goals. You will get an amazing amount of help then.
by Bacchus01
Sun Feb 03, 2019 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

I had conversation with coworker about student loans the other day asking whether he thought this bubble will burst when the current generation realizes how big of an anchor around the neck student loan debt is and conveys that fact to their children and encourages them to pursue alternate paths. H...
by Bacchus01
Sun Feb 03, 2019 10:04 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

I had conversation with coworker about student loans the other day asking whether he thought this bubble will burst when the current generation realizes how big of an anchor around the neck student loan debt is and conveys that fact to their children and encourages them to pursue alternate paths. H...
by Bacchus01
Sun Feb 03, 2019 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

Not true. For any money spent on education, withdrawals from a traditional IRA will trigger a 10% penalty, income tax on both contributions AND gains, AND loss of any state tax deduction offered on the 529. Careful. Oldsters like me were already 59.5 when my children were in college, so no 10% pena...
by Bacchus01
Sun Feb 03, 2019 9:42 am
Forum: Personal Investments
Topic: 30 YO 2 Million to Invest
Replies: 56
Views: 6705

Re: 30 YO 2 Million to Invest

You are at the right place and you are asking all the right questions. I have a few thoughts, some that already been mentioned. I came here about 7-8 years ago. I did not have a windfall but I was sitting on a chunk of cash (less than $1M, but still a lot) with a very diverse set of investments and ...
by Bacchus01
Sun Feb 03, 2019 8:28 am
Forum: Personal Finance (Not Investing)
Topic: MAGI and Roth IRA income limits
Replies: 7
Views: 511

Re: MAGI and Roth IRA income limits

Backdoor ROTH. Not sure it's good timing for me. In 2018, my income was relatively high. Do I think my tax bracket will be higher in retirement? Not sure. I have a big Traditional IRA, all pretax money, which came from many 401k rollovers. There are gains in the account. Wouldn't I need to pay tax ...
by Bacchus01
Sun Feb 03, 2019 8:27 am
Forum: Personal Consumer Issues
Topic: Subwoofer for music recommendations
Replies: 17
Views: 1051

Re: Subwoofer for music recommendations

SVS is the best.
by Bacchus01
Sun Feb 03, 2019 7:56 am
Forum: Personal Finance (Not Investing)
Topic: MAGI and Roth IRA income limits
Replies: 7
Views: 511

Re: MAGI and Roth IRA income limits

Backdoor ROTH.
by Bacchus01
Sun Feb 03, 2019 12:58 am
Forum: Personal Finance (Not Investing)
Topic: Best way to leave money to a grandchild
Replies: 37
Views: 3717

Re: Best way to leave money to a grandchild

Look up a 529 account if you haven't already. It wouldn't be usable for a house downpayment (without tax consequences), but a great way to fund a grandkid's future educational expenses. You can do a lump sum contribution of up to 5 years of the annual gift tax maximum at one time (so 5x$30K=$150K i...
by Bacchus01
Sat Feb 02, 2019 11:56 pm
Forum: Personal Finance (Not Investing)
Topic: Unpleasant surprise 2018 Federal Tax - high level overview?
Replies: 107
Views: 14898

Re: Unpleasant surprise 2018 Federal Tax - high level overview?

Our AGI went down about 11% Our taxable income reduced by just 4.7% Our taxes paid dropped by over 35%. We owe $944 at tax time If you aren’t checking your withholding at least a couple times a year, you can get surprised. The tables do not account for your situation. You need to use the IRS tool o...
by Bacchus01
Sat Feb 02, 2019 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

I think there are reasonable points on both sides of the current debate in this thread, and they are pretty clear. My datapoint is that Dear Spouse and I are in the process of drawing down two six-figure 529 plans, and in retrospect, are glad we funded them. Yet, the key was to have the saved the m...
by Bacchus01
Sat Feb 02, 2019 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Unpleasant surprise 2018 Federal Tax - high level overview?
Replies: 107
Views: 14898

Re: Unpleasant surprise 2018 Federal Tax - high level overview?

I filled out my first W-4 nearly 50 years ago. I have always been skeptical of the accuracy of the “withholding allowances” so I’ve tried to estimate early in the year what my tax for that year will be. I pissed off several payroll offices by submitting revised W-4 forms multiple times until I was ...
by Bacchus01
Sat Feb 02, 2019 11:44 pm
Forum: Personal Finance (Not Investing)
Topic: Unpleasant surprise 2018 Federal Tax - high level overview?
Replies: 107
Views: 14898

Re: Unpleasant surprise 2018 Federal Tax - high level overview?

Our AGI went down about 11% Our taxable income reduced by just 4.7% Our taxes paid dropped by over 35%. We owe $944 at tax time If you aren’t checking your withholding at least a couple times a year, you can get surprised. The tables do not account for your situation. You need to use the IRS tool on...
by Bacchus01
Sat Feb 02, 2019 1:26 pm
Forum: Personal Consumer Issues
Topic: Birth parent's estate?
Replies: 12
Views: 994

Re: Birth parent's estate?

You’re entitled to only what people decided to defer to you, which in this instance seems to be nothing. I can’t imagine why you feel you’d be enetitled to more.

Just being honest.
by Bacchus01
Sat Feb 02, 2019 1:00 pm
Forum: Personal Finance (Not Investing)
Topic: Is a Backdoor Roth IRA worth it?
Replies: 44
Views: 2913

Re: Is a Backdoor Roth IRA worth it?

If you move your low cost Ira investments into 401k to avoid pro-rata rules, you end up paying 401k fees. These fees have hardly been transparent in most mega Corp plans. Interesting. In one of my megacorp plans I have access to institutional class shares at .02%. But I pay an annual admin fee of $...
by Bacchus01
Sat Feb 02, 2019 11:44 am
Forum: Personal Investments
Topic: SS Benefits estimate seems too high?
Replies: 20
Views: 1507

Re: SS Benefits estimate seems too high?

Assuming you don't make any more contributions, I believe the increase should track the Average Wage Index until age 60, and the Soc Sec COLA adjustments after that. AWI is usually higher than COLA, so i think the the projected benefit should do a little better than keeping up with inflation. Texhn...
by Bacchus01
Sat Feb 02, 2019 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Is a Backdoor Roth IRA worth it?
Replies: 44
Views: 2913

Re: Is a Backdoor Roth IRA worth it?

If you move your low cost Ira investments into 401k to avoid pro-rata rules, you end up paying 401k fees. These fees have hardly been transparent in most mega Corp plans. Interesting. In one of my megacorp plans I have access to institutional class shares at .02%. But I pay an annual admin fee of $...
by Bacchus01
Sat Feb 02, 2019 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

Why doesn't ROTC ever come up as an option to pay for college in these threads? My kids aren't/weren't interested but it seems like a great option for many kids. That’s a great question. An even better option is the academies. Amazing schools. I spent some time at Annapolis. Fantastic experience th...
by Bacchus01
Sat Feb 02, 2019 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

Yeah, NMF is crazy talk. I think my son’s class of more than 400 had 4. And it’s a top public high school in a top academic state. Not looking to start a fistfight over school choices, but many NMF-caliber students are interested in schools that don’t give a hoot about NMF. You’d probably have bett...
by Bacchus01
Sat Feb 02, 2019 8:38 am
Forum: Personal Investments
Topic: SS Benefits estimate seems too high?
Replies: 20
Views: 1507

Re: SS Benefits estimate seems too high?

32 years worked. About 15 years were over the SS ceiling. 5 years close to ceiling and the rest were very low income (part time work, etc). So can I trust the SS Estimator (with "0" future earnings assumed)? I never hit the earning ceiling and I will get more than that at 70 so your numbers sound r...
by Bacchus01
Sat Feb 02, 2019 8:36 am
Forum: Personal Investments
Topic: SS Benefits estimate seems too high?
Replies: 20
Views: 1507

Re: SS Benefits estimate seems too high?

The SSA gives you amounts in current dollars. I know that some people do not even include SS in their planning, and that’s fine, but for those that would like to model that, what inflation rate do you put on the amount to adjust for future dollars?
by Bacchus01
Sat Feb 02, 2019 8:33 am
Forum: Personal Finance (Not Investing)
Topic: Interest Deductibility on Vacation home in LLC
Replies: 4
Views: 366

Re: Interest Deductibility on Vacation home in LLC

As best I can recall, in recent years it has never been possible to deduct mortgage interest on a second home (that is for personal use, not a rental) nor is it possible to do it under the new law. The use of a LLC would not change that. Hopefully one of the tax "experts" here will chime in as well...
by Bacchus01
Sat Feb 02, 2019 8:23 am
Forum: Personal Consumer Issues
Topic: New stick vacuum?
Replies: 15
Views: 1381

Re: New stick vacuum?

We have three Dysons. Two corded and one cordless. They get used for different things. The cordless gets used very frequently for quick touch ups, stairs, back hall rug, kitchen floor, cobwebs in the basement. It probably comes out at least daily. The newer corded one comes out at least once a week ...
by Bacchus01
Sat Feb 02, 2019 8:07 am
Forum: Personal Investments
Topic: Personal Financial Snapshot - How are we doing?
Replies: 14
Views: 1752

Re: Personal Financial Snapshot - How are we doing?

I’d suggest making the student loan pay off A short term priority as well.
by Bacchus01
Sat Feb 02, 2019 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Could Credit Card Work as Hypothetical Emergency Fund Instead of Cash?
Replies: 43
Views: 2233

Re: Could Credit Card Work as Hypothetical Emergency Fund Instead of Cash?

I know this wouldn't be smart but would a credit card work as an emergency fund, or are there situations where you would need actual cash or funds for withdraw in a bank account? The one instance I can think of is that a credit card couldn't be used to make a mortgage payment. What else am I missin...
by Bacchus01
Sat Feb 02, 2019 7:59 am
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

If your kid is smart and becomes NMF (not that hard to do, single test in junior year of HS) snowman, This must be a joke! In order to be an NMF, you have to be the top 7,500 out of 1.6 million nationwide. Aka, top 0.5%. If you are an NMF, you have many places to go with a full-ride scholarship. My...
by Bacchus01
Fri Feb 01, 2019 11:57 pm
Forum: Personal Finance (Not Investing)
Topic: Were you 100% debt free at retirement
Replies: 145
Views: 8131

Re: Were you 100% debt free at retirement

Other than tax deductible mortgage debt, I consider debt free to be Bogle-Life 'step 2' shortly after an emergency fund. I've been debt free since 30. If you can't pay cash for your cars, vacations, furniture, etc perhaps that's signal to find one that fit your cash allowance. "If you can't pay cas...
by Bacchus01
Fri Feb 01, 2019 11:53 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

IMO, there are some posters here that will someday regret overfunding 529s. This gets mentioned a decent amount, so I thought I would point out why I'm not concerned about overfunding. 1. If the kid gets a scholarship you can withdraw the equivalent amount penalty free. You basically turn your inve...
by Bacchus01
Fri Feb 01, 2019 11:50 pm
Forum: Personal Consumer Issues
Topic: What lifestyle creep made you happier?
Replies: 291
Views: 24932

Re: What lifestyle creep made you happier?

Moving to paradise has been one of the biggest fulfillment creeps of my entire life. Right now, at 8:30 in the morning, I'm marveling out my bedroom window at the moon dipping into the top of the mountains right in front of me. I have gobs of money to travel this year, yet no desire to go anywhere....
by Bacchus01
Fri Feb 01, 2019 11:47 pm
Forum: Personal Finance (Not Investing)
Topic: Could Credit Card Work as Hypothetical Emergency Fund Instead of Cash?
Replies: 43
Views: 2233

Re: Could Credit Card Work as Hypothetical Emergency Fund Instead of Cash?

For starters, you have to pay your credit card balance every month. Some emergencies last longer that. You could run up credit card debt, but then you would have to worry about interest and the impact to your credit score. You do not have to pay your balance every month. In fact, you never have to ...
by Bacchus01
Fri Feb 01, 2019 11:46 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

OP, Why do these matters? A) When your kid goes to college, you pay whatever amount that you can afford and make sense for you. Just make sure that your kids do not need to support you in retirement because you overpay for college. B) Planning for college payment 10 to 20 years ahead of time only m...
by Bacchus01
Fri Feb 01, 2019 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

OP, 529 is a tax break for rich folks. There are plenty of lawyers and doctors that use 529. Please make sure that you are rich enough before you start putting money into 529. If not, besides not helping your kids, it will hurt their chances in getting financial aid. KlangFool I'd caveat that by sa...
by Bacchus01
Fri Feb 01, 2019 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: Is a Backdoor Roth IRA worth it?
Replies: 44
Views: 2913

Re: Is a Backdoor Roth IRA worth it?

I am early 40s and have yet to do this backdoor Roth. It seems like another complicated hassle to worry about.. I already max out my 401k and get good company match.. So not sure I need to be saving so much anyways. You’ve missed out on almost 10 years of doing it. We have more than $150K in “Backd...
by Bacchus01
Fri Feb 01, 2019 11:20 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

OP, Why do these matters? A) When your kid goes to college, you pay whatever amount that you can afford and make sense for you. Just make sure that your kids do not need to support you in retirement because you overpay for college. B) Planning for college payment 10 to 20 years ahead of time only m...
by Bacchus01
Fri Feb 01, 2019 10:17 pm
Forum: Personal Finance (Not Investing)
Topic: Cost of college and 529
Replies: 642
Views: 24743

Re: Cost of college and 529

OP, Why do these matters? A) When your kid goes to college, you pay whatever amount that you can afford and make sense for you. Just make sure that your kids do not need to support you in retirement because you overpay for college. B) Planning for college payment 10 to 20 years ahead of time only m...
by Bacchus01
Thu Jan 31, 2019 11:00 pm
Forum: Personal Finance (Not Investing)
Topic: Were you 100% debt free at retirement
Replies: 145
Views: 8131

Re: Were you 100% debt free at retirement

That is not our goal.

I’m fact, our current plan includes us selling three properties we own, cashing out the equity, and buying a new home with 20% down at a 30 year rate. We will probably pull more than $500K out of our houses at that point.
by Bacchus01
Thu Jan 31, 2019 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: Is a Backdoor Roth IRA worth it?
Replies: 44
Views: 2913

Re: Is a Backdoor Roth IRA worth it?

If you are on a 0% LTCG bracket, why are you doing Backdoor ROTH?
by Bacchus01
Thu Jan 31, 2019 10:39 pm
Forum: Personal Investments
Topic: High Earners Mostly Use Taxable Accounts?
Replies: 167
Views: 13316

Re: High Earners Mostly Use Taxable Accounts?

Whoa. Why $60k? Why 8 years? The most expensive colleges now are ~$60k/year. Assuming 4 years undergraduate and 4 years medical school and increasing university costs from now until they're done (the kids are now 12 and 15 years old), it's not an entirely unreasonable projection. As I said, I'd lik...
by Bacchus01
Thu Jan 31, 2019 10:38 pm
Forum: Personal Consumer Issues
Topic: Letting Dog out everyday for lunch... the roundtrip drive is killing me.. ideas?
Replies: 151
Views: 9516

Re: Letting Dog out everyday for lunch... the roundtrip drive is killing me.. ideas?

canderson wrote:
Thu Jan 31, 2019 9:57 pm
Sometimes we tend to overthink things imo. This is one of those times.

Visit www.rover.com. Interview a few. Hire one. Likely cheaper than the gas you roundtrip.
This is what I would do. But more so just for the walk/exercise than the need for a potty break.
by Bacchus01
Thu Jan 31, 2019 10:37 pm
Forum: Personal Consumer Issues
Topic: Letting Dog out everyday for lunch... the roundtrip drive is killing me.. ideas?
Replies: 151
Views: 9516

Re: Letting Dog out everyday for lunch... the roundtrip drive is killing me.. ideas?

How often do you let the dog out at night? Our 100 lb Aussiedoodle sleeps from about 8pm til 6 am without needing to go out. Is daytime all that different?
by Bacchus01
Wed Jan 30, 2019 10:05 pm
Forum: Personal Investments
Topic: High Earners Mostly Use Taxable Accounts?
Replies: 167
Views: 13316

Re: High Earners Mostly Use Taxable Accounts?

We currently have a lot of expenses on two young toddlers so hopefully our retirement number is overshooting what we really need. Maybe we are being too conservative with our estimates (better than being short?). My kids are 12 and 15. Wife is very concerned about how much full higher education is ...
by Bacchus01
Tue Jan 29, 2019 8:27 am
Forum: Personal Consumer Issues
Topic: What lifestyle creep made you happier?
Replies: 291
Views: 24932

Re: What lifestyle creep made you happier?

Fun thread. Most has been covered, but hete’s mine -Vacations, reasonable but not skimping - Big screen TV - Netflix - Sole F70 treadmill - iPad for wife - Big, goody Aussiedoodle puppy we spoil - Kids soccer - New vehicles every 3-5 years - Oul change shops - Quality hiking shoes and backpack - App...