Search found 2789 matches

by scrabbler1
Thu May 19, 2022 9:46 am
Forum: Personal Finance (Not Investing)
Topic: Who retired during the last recession? How did it go?
Replies: 16
Views: 3041

Re: Who retired during the last recession? How did it go?

I retired in late 2008 when the markets were crashing. I cashed out company stock using NUA to get favorable tax rates, and bought a lot of shares of a bond fund whose monthly income I have been using to fund my (early) retirement. In late 2008, the bond fund prices were greatly depressed so I was able to buy ~25% more shares. Those extra shares have generated additional income every month for the last 13.5 years; it's a gift which keeps on giving. :happy
by scrabbler1
Sun May 01, 2022 9:45 pm
Forum: Personal Finance (Not Investing)
Topic: Do you balance your checkbook?
Replies: 200
Views: 15477

Re: Do you balance your checkbook?

I still balance my checkbook, although I rely on its register less and less because of the availability of online banking and my homemade checkbook register spreadsheet.

I write maybe 10 checks per year, so the registers have mostly electronic transactions, lessening the chance of an outstanding check not appearing in a monthly bank statement.
by scrabbler1
Mon Apr 25, 2022 4:27 pm
Forum: Personal Finance (Not Investing)
Topic: IRS request for form 1095-A
Replies: 16
Views: 2089

Re: IRS request for form 1095-A

Recently (Apr. 2022), I received 2 letters from the IRS each asking me to send a copy of form 1095-A (Health insurance marketplace statement), one for 2020 and one for 2021. Has anyone else received such a request? Was I supposed to send a copy when filing the returns? I use HR Block software and the filing instructions did not say to send it. In case it matters, I live in a state the has its own exchange. Maybe this is a random check and I was unlucky to get picked (twice)? My returns did include form 8962 (premium tax credit). I never heard of being asked to provide the IRS with a copy of form 1095-A. I have been receiving them since 2014, when they were first created. You surely don't have to send it in with your tax return. On the top ...
by scrabbler1
Thu Apr 14, 2022 11:30 am
Forum: Personal Finance (Not Investing)
Topic: 2021 Refund Times
Replies: 297
Views: 30396

Re: 2021 Refund Times

How are you all getting refunds? Since I started having a taxable account I always owe. Are you deliberately overpaying? Something else I am missing? I had no taxes withheld because I am an early retiree. But due to changes to the ACA subsidy formula, and some unrelated technical issues with my ACA enrollment, I overpaid my premiums for a few months in 2021. That overpayment exceeded my tax bill so it got returned to me as a tax refund, something I chose not to roll into 2023 because it was so big. I mailed it in about 7 weeks ago and there is no sign it has been processed. Mailed paper return? You won't see that refund for a year, sadly. Then why does it say in the IRS website that 6 weeks is how long it should take? I did ask for direct ...
by scrabbler1
Wed Apr 06, 2022 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 Refund Times
Replies: 297
Views: 30396

Re: 2021 Refund Times

JS-Elcano wrote: Wed Apr 06, 2022 10:43 am How are you all getting refunds? Since I started having a taxable account I always owe. Are you deliberately overpaying? Something else I am missing?
I had no taxes withheld because I am an early retiree. But due to changes to the ACA subsidy formula, and some unrelated technical issues with my ACA enrollment, I overpaid my premiums for a few months in 2021. That overpayment exceeded my tax bill so it got returned to me as a tax refund, something I chose not to roll into 2023 because it was so big. I mailed it in about 7 weeks ago and there is no sign it has been processed.
by scrabbler1
Thu Mar 31, 2022 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: 2021 Refund Times
Replies: 297
Views: 30396

Re: 2021 Refund Times

Wings5 wrote: Wed Mar 30, 2022 11:24 am March 1 - Tax return accepted via Free File Fillable Forms

March 30 - Return processing is still delayed beyond the normal timeframe, per the IRS.

Has anyone else had similar waits? There's nothing too crazy in our returns. Additional SS tax between two jobs, backdoor Roths, overcontributed to a Coverdell ESA, and route capital gains.

Maybe it's just routine under-staffing?
I used the free fillable forms, too, and mailed my paper return out (from the PO) on February 15th. In the IRS's "Where's my refund" web page, it tells me they have no info. Same when I sign into my IRS account.

My return is pretty simple. All 1099 data and ACA premium subsidy data, just like in previous years including 2020.
by scrabbler1
Tue Mar 29, 2022 8:53 pm
Forum: Investing - Theory, News & General
Topic: Asset Allocation - Reasons to change other than age?
Replies: 58
Views: 5226

Re: Asset Allocation - Reasons to change other than age?

GaryA505 wrote: Tue Mar 29, 2022 8:51 pm
scrabbler1 wrote: Tue Mar 29, 2022 5:40 pm When I retired 13 years ago at age 45, I significantly changed the AA in my taxable account so it would generate more income to replace the income from my former job. Since then, I have tweaked my AA so it would continue to generate enough income. In my IRA, I have gradually lowered the stock portion as I have aged.
Reducing allocation to stocks increases income?
I moved it to a bond fund which generates monthly dividends.
by scrabbler1
Tue Mar 29, 2022 6:00 pm
Forum: Personal Finance (Not Investing)
Topic: Question About ACA/Income in 1st Year of Retirement
Replies: 34
Views: 5469

Re: Question About ACA/Income in 1st Year of Retirement

My wife and I are getting ready to retire fully in 2023 and I am running cost scenarios for ACA. I was worried that our first year of ACA coverage would be crazy expensive as we would be using 2022 AGI. Then I saw this on the Healthcare.gov site: "Marketplace savings are based on your expected household income for the year you want coverage, not last year’s income." For those who have FIREd, does that really mean I just enter an estimated income for 2023 when applying for coverage? What happens if I make more than the estimate? Does the government claw back the money? I have looked through many threads and have not seen this question answered. Thanks for any guidance! I have been on the ACA since its inception in 2014. Back then,...
by scrabbler1
Tue Mar 29, 2022 5:40 pm
Forum: Investing - Theory, News & General
Topic: Asset Allocation - Reasons to change other than age?
Replies: 58
Views: 5226

Re: Asset Allocation - Reasons to change other than age?

When I retired 13 years ago at age 45, I significantly changed the AA in my taxable account so it would generate more income to replace the income from my former job. Since then, I have tweaked my AA so it would continue to generate enough income. In my IRA, I have gradually lowered the stock portion as I have aged.
by scrabbler1
Sun Mar 27, 2022 1:17 pm
Forum: Personal Finance (Not Investing)
Topic: Tax question - qualified dividends
Replies: 14
Views: 1336

Re: Tax question - qualified dividends

Add me to those who have posted that the worksheet is not very difficult. A little tedious, perhaps, but not difficult. Very few unique lines, as pointed out. You can skip lines 13-21 if your income is under $445k, which I assume is true for the AAA''s son.

I agree with Secondcor521 about the ultimate impact such a small QD will have on the taxes due.

IT is worth the time to go through with this and it will be a good learning experience.
by scrabbler1
Mon Mar 07, 2022 12:11 pm
Forum: Personal Investments
Topic: Reinvesting dividends
Replies: 61
Views: 7236

Re: Reinvesting dividends

Back n my working days, a few times I opened a new mutual fund. To speed up the pace at building up its balance, I would use dividend reinvestment from one or more other mutual funds I owned, until I was satisfied it had been built up enough. I did this at times for both taxable and tax-deferred accounts.

Now that I am retired, but living off dividends from my taxable account, I take as cash monthly dividends to pay my bills. The other mutual funds I reinvest dividends.
by scrabbler1
Sun Mar 06, 2022 12:57 pm
Forum: Personal Finance (Not Investing)
Topic: When do you pay your credit card bill?
Replies: 194
Views: 16583

Re: When do you pay your credit card bill?

I pay mine around the 3rd of the month, 2 weeks before it is due, and just after my a big monthly dividend from a bond fund hits my bank account. My bank also holds my CC, so using online banking it is a simple electronic transfer from one arm of the bank to another. If there is a problem with the transfer, I still have plenty of time to deal with it.
by scrabbler1
Wed Mar 02, 2022 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: capital loss carryover worksheet
Replies: 6
Views: 816

Re: capital loss carryover worksheet

yes i am doing 2021 now. from 2020 i do not have carryover, not even a schedule D. this carryover is from this year that will go to 2022 because i have a loss this year. they should have calculated in 2021 sheet. anyway back to my main question does this worksheet get submitted? No, it does not get submitted. If you only have a capital loss carryover from 2021 to 2022 (which is what it sounds like you're saying), then there is no need to complete the capital loss carryover worksheet now because there is nothing to carryover *to* your 2021 return you're working on now. It's a little odd that your tax software is filling it out now. The main reason I imagine it would do so is so that you remember about your capital loss carryover next year. ...
by scrabbler1
Tue Mar 01, 2022 12:33 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 166849

Re: [On-going Scams - Post them here]

K72 wrote: Mon Feb 28, 2022 2:02 pm I've probably gotten 100 phone messages in the last three years telling me that the extended warranty on my car is about to expire. At first I diligently blocked the number each time, but that didn't help. The last 20 or so calls all said it was the "final" notice. My car is 12 years old and I never purchased extended warranty.

Been tempted to answer one and ask which specific car they are referring to, but decided it wasn't worth my time.
Why can't these [expletive removed by admin LadyGeek] ever make good on their claim that it's a "final notice?"
by scrabbler1
Tue Feb 22, 2022 10:03 am
Forum: Personal Consumer Issues
Topic: How do you backup your computer?
Replies: 159
Views: 13338

Re: How do you backup your computer?

I back up my personal files onto a thumb drive every month. Some months (quarterly), I copy all the files, but other months I copy only the files I updates in the last month. I alternate between 2 thumb drives and keep the more thorough quarterly backups separate from the less thorough monthly backups. I have had to use my back-up system twice in the 10 years. I was lucky in that my two hard drive/PC failures occurred in the first 2 weeks of the month, although in one case I did some backups of recently used files more often because the HD/PC was not working well. Restoring the files and programs to a new HD/PC took a few hours but in the end I lost nearly no data. In one case, I had figured out how to access files on my HD/PC which only p...
by scrabbler1
Tue Feb 22, 2022 8:49 am
Forum: Personal Consumer Issues
Topic: How do you backup your computer?
Replies: 159
Views: 13338

Re: How do you backup your computer?

I back up my personal files onto a thumb drive every month. Some months (quarterly), I copy all the files, but other months I copy only the files I updates in the last month. I alternate between 2 thumb drives and keep the more thorough quarterly backups separate from the less thorough monthly backups. I have had to use my back-up system twice in the 10 years. I was lucky in that my two hard drive/PC failures occurred in the first 2 weeks of the month, although in one case I did some backups of recently used files more often because the HD/PC was not working well. Restoring the files and programs to a new HD/PC took a few hours but in the end I lost nearly no data. In one case, I had figured out how to access files on my HD/PC which only pa...
by scrabbler1
Sat Feb 19, 2022 3:36 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Form 8995 or 8995-A
Replies: 7
Views: 534

Re: Tax Form 8995 or 8995-A

sport wrote: Sat Feb 19, 2022 3:33 pm Thanks for the help. I think the 8995 form has what I need. By the time I took 20% of the $160, which is $32 and then applied my tax rate, it came out to be a tax saving of $5. It was really not worth effort to figure out how to do it and fill out the form.
It may seem that way now, but remember that in future years you won't have to go through the learning process again; you will enjoy all the tiny tax benefits without the costs. 8-)
by scrabbler1
Sat Feb 19, 2022 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Tax Form 8995 or 8995-A
Replies: 7
Views: 534

Re: Tax Form 8995 or 8995-A

I have had some Section 199A dividends appear on my 1099-DIV form the last few years. I completed Form 8995 (not -A) and that form easily gave me the amount to copy onto the main 1040 form as a QBI deduction.
by scrabbler1
Wed Feb 16, 2022 8:30 pm
Forum: Personal Finance (Not Investing)
Topic: Paper vs. E-filing of tax returns
Replies: 134
Views: 12882

Re: Paper vs. E-filing of tax returns

rkhusky wrote: Tue Feb 15, 2022 9:20 pm I enjoy doing my taxes. I have a spreadsheet to estimate taxes through the year, so I have no need to buy software or pay to efile. It is quite satisfying to transfer the numbers from my spreadsheet to the pdf's, print out the forms, staple and fold them up, insert them in the envelope, affix the stamps, and drop them in the mail.
Yay, someone who thinks and acts like me! I do not only my taxes but those for 3 other people (my ladyfriend, my best friend, and my dad, now saving him $300 when he had a paid preparer do his pretty easy returns). I do mail mine from the post office.
by scrabbler1
Sun Feb 13, 2022 1:33 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 166849

Re: [On-going Scams - Post them here]

hicabob wrote: Sun Feb 13, 2022 1:10 pm "Your McAfee anti-virus has expired". Problem is I never had it. They send those weird emails to my secondary email with italics, symbols, etc to avoid spam blockers. I'm not sure if it's really McAfee since its owned by Intel now I think and it seems so tacky or if it's scammers trying to get a cc number?
I get about 5 of these per day, telling me my McAfee or Norton antivirus or antispyware license has expired. The email addresses are always "gobbledygook @ garbage.nonsense.com"
by scrabbler1
Thu Feb 03, 2022 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: 1099R for inherited IRA RMD
Replies: 11
Views: 1211

Re: 1099R for inherited IRA RMD

My friend, whose taxes I do, has an inherited IRA and has been taking RMDs since 2013. His 1099R form has the same boxes filled as you do, with the exception that he also has state income taxes withheld (Box 14). The RMD ends up on Line 4a/4b on Form 1040.
by scrabbler1
Mon Jan 31, 2022 8:25 pm
Forum: Personal Finance (Not Investing)
Topic: Credit cards closed due to inactivity
Replies: 25
Views: 3280

Re: Credit cards closed due to inactivity

In the wake of the 2008-09 financial crisis, I had a few credit cards closed by the banks because I hadn't used them in 10 years or more (one of them I actually never used!). I recall getting warning letters telling me they would be closed unless I used the card by a certain date. I ignored them and let the accounts close. In 2014, I switched my primary credit card to a new one (cashback). My old primary card became my back-up card. Because I already had one small, annual, automatic charge in place on that card, the account stays open without my having to remember to do anything. It's a small charge, so I am not forgoing any big cashback reward. That bank has a branch just down the street near where I live, so it's easy to pay (and the bill...
by scrabbler1
Thu Dec 23, 2021 7:58 pm
Forum: Investing - Theory, News & General
Topic: Large year-end Mutual Fund Distribution - Don't reinvest to pay taxes?
Replies: 29
Views: 4224

Re: Large year-end Mutual Fund Distribution - Don't reinvest to pay taxes?

Gill wrote: Fri Nov 26, 2021 6:36 pm Yes, just take the distribution, retain enough to pay the tax and reinvest the rest.
Gill
This is what I did a few years ago with a big cap gain distribution. I used this big cash windfall as a chance to do some rebalancing.
by scrabbler1
Thu Dec 09, 2021 8:06 am
Forum: Personal Finance (Not Investing)
Topic: CA auto insurance: Collision vs. UM property
Replies: 24
Views: 1699

Re: CA auto insurance: Collision vs. UM property

Wow, this is a new one to me.. I'm doing the semi-annual insurance quote dance.. historically I have not carried UM (un/underinsured motorist) Property or UM Bodily Injury because I also carry Collision, which should cover me in the case of an accident with an uninsured driver (minus deductible.) However one carrier insists that if I am hit by an uninsured motorist without the UI rider, collision will NOT cover me. Collision will only cover me if it is MY fault. Has anyone heard of this before? I'm awaiting the written policy but I am curious if I have been misunderstanding this all these years.. or this agent is befuddled (but quite adamant!) Yeah, you’re incorrect but I also think you misunderstood your agent. Collision is ONLY for damag...
by scrabbler1
Thu Dec 09, 2021 7:29 am
Forum: Personal Consumer Issues
Topic: Do not call list
Replies: 42
Views: 3416

Re: Do not call list

I've had nomorobo on my land line for 5 years. At first, it was blocking about 75% of the junk calls. That has dropped since then, down to maybe 1/3 of the junk calls blocked. The junk callers spoof numbers most of the time now so they get through.

Maybe twice in that time, a legit caller got blocked by nomorobo. I contacted nomorobo and they took the number off their blocked number list.
by scrabbler1
Thu Nov 18, 2021 10:42 pm
Forum: Personal Consumer Issues
Topic: How to prevent spam calls
Replies: 40
Views: 3790

Re: How to prevent spam calls

https://www.nomorobo.com/ seems to help. Agreed. It has to be supported by your landline carrier. Sometimes will we get one ring through from a spam number. nomorobo is supported by my landline provider, and it helps but a lot of spam still gets through. I'm considering trying the ATT phone mentioned in another post as the current phone is pretty long in the tooth. However, the key solution is just don't answer the phone. If it is a real call, they will leave a message. Right. Nomorobo isn’t perfect, but it helps. We never answer calls from unknown numbers, but the actual ringing from the spam calls just gets really old. Nomorobo worked very well several years ago when it was new. Now it blocks very few spam calls in our experience. Plus i...
by scrabbler1
Wed Nov 17, 2021 5:56 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 166849

Re: [On-going Scams - Post them here]

I got a call today, where the caller ID said "Citibank". The number, I later found, also matched their published number for their fraud department. I heard an automated message warning of a suspicious charge. Did I authorize a $1498 charge today? Press 1 if not... That lead me to a guy w/ a thick accent asking if I'd authorized $1498 in Indonesia. So far, this isn't that different from an actual fraudulent charge call. Then it got weird. He wanted me to go to my computer and was trying to get me to open a teamviewer url, whereupon I called him out on it and hung up. If the "bank" calls you, don't give out any personal information. Definitely don't go to any URLs they tell you over the phone. On a related note, this Mark...
by scrabbler1
Sat Oct 23, 2021 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America adding fees and limiting transfers
Replies: 23
Views: 3658

Re: Bank of America adding fees and limiting transfers

Lastrun wrote: Fri Oct 22, 2021 7:38 pm
Tamales wrote: Fri Oct 22, 2021 6:07 pm It can't possibly be as absurd as a literal reading.
I thought the same thing, but when i read the current agreement, I don’t think I am reading it right, because these are pushes and pulls initiated within the BofA account, something i never do. I pull from Ally, so the rules don’t apply. My paycheck also does not apply because that is a push by my employer.

I don’t use billpay so not sure about that issue.
I do pushes and pulls initiated outside BofA, but with BofA on the other end. Looks like those are unaffected. I use BofA for Bill Pay with one paper check mailed out. That should be okay, too. I assume redeeming cash from my BofA cashback credit card will also be unaffected.
by scrabbler1
Mon Oct 18, 2021 1:06 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 166849

Re: [On-going Scams - Post them here]

I have gotten calls and emails from those claiming to be from Amazon telling me about an order I supposedly made. Unlike the legit emails I get from Amazon confirming an order, these phonies never address me by my first name. But just for some peace of mind, I will sign into my Amazon account to make sure there are no new orders, other than anything recent I know I placed.
by scrabbler1
Mon Oct 18, 2021 8:55 am
Forum: Personal Consumer Issues
Topic: Where did you "easily" Trim expenses in retirement?
Replies: 52
Views: 7792

Re: Where did you "easily" Trim expenses in retirement?

If you are now able to do tasks that you enjoy but outsourced because you lacked time when you were working (like lawn care) or you had an expense that simply came to an end (like paying for a child’s college), then maybe cutting those costs would be painless. But most cost cuts are going to make you at least at little bit worse off, because presumably you got some value out of the spending. In order of preference (from first to go to last to go), I’d look at: 1. Reducing food costs 2. Reducing gifting to children 3. Reducing travel costs These are our biggest ticket items, other than taxes (income & real estate). Getting rid of Hulu or buying cheaper cell phones just isn’t going to move the needle. My goal was to be able to maintain r...
by scrabbler1
Sat Sep 25, 2021 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Your expenses decreasing as you age?
Replies: 46
Views: 4830

Re: Your expenses decreasing as you age?

Excluding taxes and paying down/off debt, and not adjusting for inflation, my expenses have been pretty stable over time. They have risen slightly in the last few years due to health insurance rates rising. I fixed that problem in 2020 by adjusting my portfolio to get back on the ACA subsidy train, though.
by scrabbler1
Sat Sep 18, 2021 11:35 pm
Forum: Investing - Theory, News & General
Topic: What are you all doing for emergency funds?
Replies: 131
Views: 19616

Re: What are you all doing for emergency funds?

The term “emergency fund”, although somewhat mainstream in personal finance parlance, can be cause confusion. Are we (Bogleheads) referring to a stand alone, segregated account for certain emergencies only? For example, loss of employment, large unexpected medical bill, expensive car repairs, etc. Or is “emergency fund” just the cash equivalents we hold? The segregated emergency fund is great for those who have less liquid assets and may have struggled with debt in the past. However, I’m of the opinion that once you have a sufficient net worth and have exhibited good spending habits, a segregated account for emergencies only is not needed. Personally I hold what I call a “cash reserves” account. It’s a combination of FDIC insured savings a...
by scrabbler1
Sat Sep 18, 2021 9:12 am
Forum: Investing - Theory, News & General
Topic: What are you all doing for emergency funds?
Replies: 131
Views: 19616

Re: What are you all doing for emergency funds?

Many people here, including me, use some layered or tiered approach to emergency funds. I don't like tying up any significant part of my portfolio in an account which has zilch or nearly zilch rate of return. My first tier is a small buffer or cushion, around $700, in my local bank's checking account which exceed any minimum balance requirement to avoid monthly fees. This money is quickly and easily accessible, a key part of my first-tier EF. My second-tier EF is about $40k held in an intermediate-term muni bond fund. This account has checkwriting privileges which adds some accessibility to the money, an important feature. It earns about 2% interest a year, so it isn't earning zilch (nearly $1k a year). There is some risk to principal, but ...
by scrabbler1
Sat Sep 18, 2021 8:51 am
Forum: Personal Finance (Not Investing)
Topic: What Was Retiring Like?
Replies: 45
Views: 6597

Re: What Was Retiring Like?

I retired nearly 13 years ago at age 45 after working part-time the last 7 years of my career. In those 7 years, I had regained control over my personal life with some enjoyable hobbies, one resurrected from years earlier. I just needed to totally rid myself of the awful commute, even down to 2 days a week, because it was still too much for me.

In the last few years, those 2 main activities have dried up. One mostly due to Covid (it was with some area schools), the other due to the death of the activity's leader in 2018 (he was 85). But simply being out of the daily rat race, as in "eliminating a negative," has been good enough for me.
by scrabbler1
Tue Sep 14, 2021 3:43 pm
Forum: Personal Finance (Not Investing)
Topic: IRS Tax Form 8962 for 2021 and 2022
Replies: 7
Views: 852

Re: IRS Tax Form 8962 for 2021 and 2022

There is a draft version of Form 8962 for the 2021 tax year.

https://www.irs.gov/pub/irs-dft/f8962--dft.pdf
by scrabbler1
Tue Sep 14, 2021 3:40 pm
Forum: Personal Finance (Not Investing)
Topic: How to use RMD for taxes?
Replies: 14
Views: 1293

Re: How to use RMD for taxes?

AlwaysaQ wrote: Tue Sep 14, 2021 2:44 pm I also pay taxes thru RMD withdrawal. I did find out at Fidelity I was only allowed to send 99% of a withdrawal to the IRS.
My friend has an inherited IRA through Fidelity and I help him take his RMD and figure out how much to withhold in federal and state income taxes. He doesn't need the RMD's income to pay his bills, so diverting some or all of it (99% of it, the max, as you pointed out) is like his W-2 withholding and it keeps him more easily in a "safe harbor" to avoid any penalties (and we keep his April-due balance low, either owing or getting a small amount (usually under $75).
by scrabbler1
Mon Sep 13, 2021 5:22 pm
Forum: Investing - Theory, News & General
Topic: Retirees quick response please! Age, Xpenses & SWR
Replies: 41
Views: 6100

Re: Retirees quick response please! Age, Xpenses & SWR

retired@50 wrote: Sun Sep 12, 2021 5:40 pm
Wannaretireearly wrote: Sun Sep 12, 2021 12:59 pm What was your 1. 2. 3. retirees??
:sharebeer
1. 50
2. 40X
3. 2.5%

Regards,
Very similar to you.

1. 45 (13 years ago)
2. 40x (has risen since then to 84)
3. 2.5% (has fallen since then to 1.2%)
by scrabbler1
Mon Sep 06, 2021 9:24 pm
Forum: Personal Consumer Issues
Topic: [On-going Scams - Post them here]
Replies: 1372
Views: 166849

Re: [On-going Scams - Post them here]

One of the most frequent scam emails I have been getting the last year or two are those "thank you for your purchase of anti-spyware" or "anti-virus" program, often from a name brand such as Norton or McAfee. The email tells me my credit card or debit card of Paypal account will be billed ~$400 for the purchase, and to call some phone number if I did not make the purchase. The email is usually sent from gobbledygook@moregobbledygook.com.
by scrabbler1
Fri Sep 03, 2021 7:34 am
Forum: Personal Finance (Not Investing)
Topic: How much of a pay cut is reasonable for a shorter commute?
Replies: 207
Views: 17713

Re: How much of a pay cut is reasonable for a shorter commute?

Three times in my career I took a pay cut for a shorter commute - if you count as a shorter commute a less frequent commute (i.e. fewer days). The first time, I took a 40% pay cut to reduce my commute by 80% (5 days to 1 via mostly telecommuting). After the telecommute part was rescinded a few years later (increasing my commute), I eventually took a 40% pay cut again to reduce the commute by 33% (3 days to 2). My final pay cut was 100% when I retired early, also eliminating 100% of the commute :happy
by scrabbler1
Mon Aug 30, 2021 10:36 am
Forum: Personal Finance (Not Investing)
Topic: How much $$ do you actually need per month
Replies: 97
Views: 15210

Re: How much $$ do you actually need per month

For me, $1,800 per month.
by scrabbler1
Sat Aug 28, 2021 8:40 am
Forum: Personal Finance (Not Investing)
Topic: Major Expenses By Decade
Replies: 24
Views: 3432

Re: Major Expenses By Decade

Never married, no kids, so none of those avoidable expenses (yay!).

20s - paying off student loans, twice buying cars, down payment on my co-op apartment, refinancing mortgage.
30s - paying off mortgage early.
40s - paying more for my health insurance after I retired (pre-ACA), another car purchase.
50s - my OOP max for hospital stay (with ACA, thankfully!).

Not yet 60.
by scrabbler1
Thu Aug 26, 2021 10:45 pm
Forum: Personal Finance (Not Investing)
Topic: What all do you track on your spreadsheet?
Replies: 118
Views: 17204

Re: What all do you track on your spreadsheet?

I have several spreadsheets. For each mutual fund in my taxable account, I have a spreadsheet where I record each transaction. I also use it to determine cost basis when I make a sale. The rollover IRA spreadsheet has both mutual funds together and a tab for my overall portfolio including taxable. I have a checkbook register spreadsheet where I record each transaction in the checking account. It is also linked to a skeleton version of my income tax returns. I can play with that part of it to do what-if scenarios which is useful for determining estimated taxes. Another spreadsheet keeps monthly balances of my overall taxable account. Another spreadsheet is my early retirement spreadsheet which includes a projected checkbook register, or cash...
by scrabbler1
Thu Aug 26, 2021 6:29 am
Forum: Personal Finance (Not Investing)
Topic: What was your feeling after reaching your FI number
Replies: 167
Views: 19732

Re: What was your feeling after reaching your FI number

I am currently in the accumulation phase and haven't reached my FI number (25 x yearly expense) yet. My question is for those who have reached the FI number. 1) How was the feeling like when you hit your FI number? Did you feel more secure, relieved, happy etc? 2) Did you want to accumulate more just to be sure or did you call it quits (Retire Early) after reaching it? 3) Is there someone who changed careers after reaching your FI number to a career that you like more? My early retirement plan was in full swing by the time I reached my magic number in the summer of 2008. The magic number was mainly a certain value of my company stock whose value had been mostly skyrocketing in the 10 years prior to 2008. I had also put my ER plan before my...
by scrabbler1
Wed Aug 25, 2021 5:03 pm
Forum: Personal Investments
Topic: Where are you storing your emergency fund money?
Replies: 109
Views: 16686

Re: Where are you storing your emergency fund money?

I have two main tiers for EF money, as others here have. The first tier is my local bank's checking account which has about $700 over its minimum balance to avoid monthly fees. That can be used in case I have small, unforeseen expenses I need to pay immediately, something which happens fairly often. The second tier is about $40k in an intermediate-term muni bond fund which has checkwriting privileges. The checkwriting is crucial because it gives me some added liquidity should I need to pay a larger, unforeseen expense right away which the local bank's balance can't cover. This account pays monthly dividends, mostly tax-free in the 2%-2.5% range, as I don't like tying up any big chunk of money earning zilch or nearly zilch. I don't mind ris...
by scrabbler1
Wed Aug 18, 2021 7:11 pm
Forum: Personal Investments
Topic: Do I need an Emergency Fund? Do I need to keep anything invested in Money Market or HY savings?
Replies: 61
Views: 7988

Re: Do I need an Emergency Fund? Do I need to keep anything invested in Money Market or HY savings?

A lot of people here, including me, use a layered or tiered approach for their access and safety of available money, whether it is called an Emergency Fund or something else. In my local bank's checking account, I keep a fairly small amount of money ($2k) in there, somewhat above the minimum balance requirements, in case I need to get some cash or write a check or checks in a pinch. This buffer I often have to tap into for smaller, unforeseen expenses. This account earns no interest bit that's okay because it is small. For the rarer, larger and unforeseen expenses which may arise, I have a large blob of money in a second-tier EF, an intermediate-term muni bond fund. It earns about 2% per year, mostly tax-free, which is nice. It is rare that...
by scrabbler1
Wed Aug 11, 2021 6:52 pm
Forum: Personal Finance (Not Investing)
Topic: Do You Budget Pre/During Retirement?
Replies: 98
Views: 7989

Re: Do You Budget Pre/During Retirement?

Before and after my early retirement 13 years ago, I always had more money coming in than going out. So, I never needed a budget for the purpose of allocating or putting a quota on my spending. However, I have always monitored my cash inflows and outflows and have done summaries each year. Monitoring the cash inflows and outflows allows me to identify surpluses of inflows over outflows so I can invest them elsewhere. Also, I often need to carry forward surpluses to cover the less frequent but lumpier expenses, so identifying those surpluses is important.
by scrabbler1
Thu Aug 05, 2021 7:58 am
Forum: Personal Investments
Topic: Preparing move to Fidelity
Replies: 24
Views: 4839

Re: Preparing move to Fidelity

I helped my friend make two big moves to Fidelity. The first was in 2012, after his remaining parent passed away and he received a large inheritance. A month later, we did 3 electronic rollovers into Fidelity. One was an inherited IRA, the other 2 were brokerage accounts, one from Morgan-Stanley (plus the IRA) and the other from TD-Ameritrade. They went fine, and Fidelity had a bonus program already in place for large transfers. Fidelity also reimbursed him for some of the transfer fees. The second was in 2018, when we did rollovers from a Roth IRA and another small brokerage account (neither related to his inheritance) into Fidelity. They were done electronically and went smoothly, too. Fidelity had no asset transfer bonus (and I didn't th...
by scrabbler1
Thu Aug 05, 2021 7:41 am
Forum: Investing - Theory, News & General
Topic: How much time does it take for you to monitor/manage your assets/money each month?
Replies: 42
Views: 4095

Re: How much time does it take for you to monitor/manage your assets/money each month?

For me, 15-30 minutes per month. Most of that time is spent during two monthly updates - one at the end of the month to record monthly bond fund distributions, and mid-month to do account balance updates. I make a few purchases and rebalancing moves per year, and get some other occasional distributions; December has more activity due to extra year-end distributions I have to pay attention to.

As for the time spent before retirement and after I retired in late 2008, I spend more time now for 2 main reasons: (1) I added one big bond fund where I post extra data on it every month, and (2) my rollover IRA has monthly updates, not quarterly updates in its former 401k form.
by scrabbler1
Tue Aug 03, 2021 9:27 am
Forum: Personal Finance (Not Investing)
Topic: How long did it take you to get from 500k to 1M?
Replies: 46
Views: 11253

Re: How long did it take you to get from 500k to 1M?

If you count the value of my low-end co-op apartment I owned outright, it took me about 6 years (2001-2007). If you don't count it, it took me about 7 years (2003-2010). A lot of things happened in those overall 9 years, from the 2001-2002 economic downturn to the exploding value of my company stock from 2003-2007 to another economic downturn in 2008-2009. I also retired in late 20008, so my meager (part-time) wage income disappeared while the markets rebounded.
by scrabbler1
Mon Aug 02, 2021 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Uninsured Motorist Coverage
Replies: 17
Views: 2433

Re: Uninsured Motorist Coverage

That coverage covers " lost wages and pain and suffering" that your medical insurance does not. Perhaps you may want to decrease the amount of coverage rather than discontinue it. I agree. My state's minimum UM/UIM limits are 25/50. I have 250/500 BI but have 50/100 UM/UIM, a limit I am comfortable with. The OP is free to buy any available limit between the state's minimum and his own BI limits. In some states, UM/UIM coverage can be expensive because the type of UIM coverage (and there are several) is very broad compared to other states, while UMBI is pretty vanilla regardless of state (assuming UMPD, a far cheaper coverage, is not included). If UMBI and UIMBI must be bought together and at the same limits, then you may be stuck...