Search found 721 matches

by KlingKlang
Fri May 12, 2017 7:37 am
Forum: Personal Finance (Not Investing)
Topic: Staying the course with our plan
Replies: 16
Views: 1677

Re: Staying the course with our plan

Be sure to treat your wife to something that she likes for her first Mothers' Day!

Now that you are a nuclear family be sure that you have an emergency fund, life insurance, and disability insurance. After that just be patient and take everything one step at a time.
by KlingKlang
Thu May 11, 2017 3:03 pm
Forum: Personal Finance (Not Investing)
Topic: House Deed Covenant Enforceability
Replies: 43
Views: 4613

Re: House Deed Covenant Enforceability

Just out of curiosity, if your father is employed and making good money why aren't they making more than minimum payments on the credit cards?
by KlingKlang
Thu May 11, 2017 10:31 am
Forum: Personal Finance (Not Investing)
Topic: How I use I-ORP, and who shouldn't
Replies: 155
Views: 20367

Re: How I use I-ORP, and who shouldn't

It's been a while since I ran my numbers through I-ORP, although I reviewed the results a few months ago. One thing that struck me was how aggressive it was recommending tIRA to Roth IRA conversions. Is anyone else concerned that after making massive conversions to their Roth IRAs (and paying the ta...
by KlingKlang
Wed May 10, 2017 12:52 pm
Forum: Investing - Theory, News & General
Topic: Larry Swedroe on Challenges Of Managing Finances As We Age
Replies: 25
Views: 4535

Re: Larry Swedroe on Challenges Of Managing Finances As We Age

There should not be any "rules" concerning cognitive decline at specified ages. People age mentally at very different rates. Some people have significant declines in their 70's. Others, in their 90's, are still very sharp. IMO, this falls in the category of "know yourself". Well, maybe. But isn't o...
by KlingKlang
Mon May 08, 2017 8:36 am
Forum: Investing - Help with Personal Investments
Topic: Retire Early?? Need a sense check
Replies: 42
Views: 9986

Re: Retire Early?? Need a sense check

a) Will not touch tax advantaged accounts until 70 1/2. Using online compound interest calculators, no additional contributions, 5% return per year, 15 years, the account balance should be around $2,286,000 b) Start taking SS either at 67 or 70 for about $2800-3000 per month c) Between 55 and 70 li...
by KlingKlang
Sat May 06, 2017 7:24 am
Forum: Personal Consumer Issues
Topic: Swing Set 2700.00??
Replies: 35
Views: 4672

Re: Swing Set 2700.00??

Three possible results: 1. Your kids love it, use it for several hours a day until they are middle schoolers. 2. Your kids get bored with it after a couple of weeks. 3. You have the best set in the neighborhood and there are always 20 kids in your backyard even when you aren't home. I've seen all th...
by KlingKlang
Fri May 05, 2017 3:57 pm
Forum: Investing - Theory, News & General
Topic: "Ten Commandments" by Jonathan Clements
Replies: 24
Views: 4288

Re: "Ten Commandments" by Jonathan Clements

I have a question on
2... If you devote savings to one financial dream, those dollars can’t be put toward another goal.
So if you are saving towards a vacation and your car gets totaled you can't reposition those savings to get a replacement car? I don't know if I quite get Jonathan's point.
by KlingKlang
Sun Apr 30, 2017 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrela Insurance is it worth?
Replies: 21
Views: 2934

Re: Umbrela Insurance is it worth?

I recently hit 2M net worth and looking to get a umbrella insurance to protect my assets. - I own home and have condo insurance. - I don't have Car and Don't Drive. When I called insurance company they said I must have car insurance to get umbrella coverage. one option they suggested is get no-car-...
by KlingKlang
Wed Apr 26, 2017 3:20 pm
Forum: Personal Consumer Issues
Topic: Cost of Estate Planning
Replies: 33
Views: 5482

Re: Cost of Estate Planning

My wife and I met with a (young) Elder Law attorney exactly one week ago for a free consultation. She works at a practice owned by a much older attorney. We live in Northeast Ohio. They hand you a flow chart that shows you all of their fixed price options: (For my wife and myself) Base wills, health...
by KlingKlang
Wed Apr 26, 2017 9:44 am
Forum: Personal Consumer Issues
Topic: $300+ to remove a racoon. Really?
Replies: 83
Views: 7382

Re: $300+ to remove a racoon. Really?

Jim180 wrote:Anyone trying to trap a raccoon needs to be careful. They may look like cute gentle creatures but they get a nasty temper when trapped and will bite.
I worked with a 6'4" 330 lb guy in Texas who decided that he wanted to trap a raccoon and keep it as a pet. The scars on his arms were amazing.
by KlingKlang
Wed Apr 26, 2017 9:30 am
Forum: Investing - Theory, News & General
Topic: Thinking in real vs. nominal
Replies: 46
Views: 4718

Re: Thinking in real vs. nominal

Thinking in nominal terms is one of the biggest mistakes you can make. If you're saying that putting my $1 million in a saving account at 1% APR is a mistake because then I eliminate all risk and am guaranteed to have a million dollars forever, then I completely agree... Unfortunately this is exact...
by KlingKlang
Tue Apr 25, 2017 1:05 pm
Forum: Personal Consumer Issues
Topic: co-worker had a baby, chipping in on gift- how much?
Replies: 57
Views: 8895

Re: co-worker had a baby chipping in on gift- how much?

My wife used to work as a file clerk at a bank headquarters, and according to her the gift solicitation culture there was totally out of control. People (100% of them were women) would circulate through every floor of the 29 story building collecting for wedding, baby, funeral, and retirement gifts....
by KlingKlang
Mon Apr 24, 2017 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: Ally Bank - Savings Account Rate Increased!
Replies: 94
Views: 18018

Re: Ally Bank - Savings Account Rate Increased!

By the way, what better rates are you seeing elsewhere (that are not limited to something like the first $25,000 or a teaser rate)? PurePoint Financial is offering 1.25% on a $10,000 minimum deposit. https://www.purepoint.com/ Fine print would have me worried a bit: Annual Percentage Yield (APY) ac...
by KlingKlang
Mon Apr 24, 2017 8:52 am
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 13229

Re: Why is Real-Estate so Bad?

A follow-up question would be how would I know/expect when these dividends will be received? I am currently invested 100% in Total US Index (VTSAX) VTSAX is currently distributing dividends quarterly (March, June, September, December). If you hold VTSAX directly with Vanguard you have the options o...
by KlingKlang
Mon Apr 24, 2017 8:35 am
Forum: Investing - Help with Personal Investments
Topic: Why is Real-Estate so Bad?
Replies: 113
Views: 13229

Re: Why is Real-Estate so Bad?

Thanks for the reply. Let me make sure I completely understand your response. If we are comparing RE and Stocks, technically, wouldn't RE also be producing "dividends" by appreciating in value (It's just that in RE you are forced to re-invest those dividends because you cannot withdraw anything unl...
by KlingKlang
Mon Apr 24, 2017 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Ally Bank - Savings Account Rate Increased!
Replies: 94
Views: 18018

Re: Ally Bank - Savings Account Rate Increased!

MikeG62 wrote:By the way, what better rates are you seeing elsewhere (that are not limited to something like the first $25,000 or a teaser rate)?
PurePoint Financial is offering 1.25% on a $10,000 minimum deposit.

https://www.purepoint.com/
by KlingKlang
Sun Apr 23, 2017 6:30 pm
Forum: Personal Finance (Not Investing)
Topic: Any regrets living a frugal life for high income/high networth individuals?
Replies: 170
Views: 24941

Re: Any regrets living a frugal life for high income/high networth individuals?

Whenever you start thinking you might regret not spending money, spend the money. I really like this quote and I wish that I could apply it more often in my own life. This morning my wife complained that she couldn't see the whole 8 day weather forecast on our TV. I tried to explain that it was bec...
by KlingKlang
Sun Apr 23, 2017 6:05 pm
Forum: Investing - Theory, News & General
Topic: Is $20K I-Bonds considered cash or bond?
Replies: 62
Views: 6331

Re: Is $20K I-Bonds considered cash or bond?

A thirty year Treasury bond can be sold in a minute during market hours and you can have Franklin's in your hands tomorrow morning. Unless you hold them in Treasury Direct. Back to the original question: I honestly consider Savings Bonds to be cash investments since their value can never decrease. ...
by KlingKlang
Sun Apr 23, 2017 5:49 pm
Forum: Personal Finance (Not Investing)
Topic: Helping adult children
Replies: 80
Views: 11256

Re: Helping adult children

Swimmer, If I was in your situation I think that I would handle everything exactly as you have. Most of the responders seem to consider grandchildren as sub-units of children. The way that I would think about this is that you have 5 descendants: 2 children and 3 grandchildren. If you wish to provide...
by KlingKlang
Fri Apr 21, 2017 10:55 am
Forum: Investing - Theory, News & General
Topic: The Skinny on Dividends
Replies: 11
Views: 2935

Re: The Skinny on Dividends

I agree with the preceding advice to reinvest your dividend and capital gains distributions inside of your Roth IRA accounts. One point is that if you do direct dividend and capital gains distributions from Roth IRA stock and bond funds to a money market account, that account should also be inside o...
by KlingKlang
Wed Apr 19, 2017 6:46 pm
Forum: Personal Finance (Not Investing)
Topic: Why never speak badly about boss? [Need Bogleheads' wisdom]
Replies: 138
Views: 16597

Re: Why never speak badly about boss? [Need Bogleheads' wisdom]

Besides the very real possibility that any negative comments that you make about your boss will get back to him by one means or another, any other manager who hears you criticizing your boss directly or indirectly will be reluctant to hire you or give you a position in their department out of concer...
by KlingKlang
Mon Apr 17, 2017 7:30 pm
Forum: Investing - Help with Personal Investments
Topic: [Advice needed for mother's inheritance/finances.]
Replies: 129
Views: 17891

Re: Too much inheritance to handle. Advice needed

First, you should absolutely not feel horrible for researching this "behind his back". There is no reason to feel disloyal for considering multiple opinions and options when evaluating someone who will be providing you with professional services. Would you feel badly about getting multiple quotes f...
by KlingKlang
Mon Apr 17, 2017 7:07 pm
Forum: Personal Finance (Not Investing)
Topic: "Vanguard's free RMD Service: Sign up before you turn 70½"
Replies: 23
Views: 3555

Re: "Vanguard's free RMD Service: Sign up before you turn 70½"

If you're age 69½ or older, you can enroll in Vanguard's RMD Service online:
It doesn't look as though you can do this a few years ahead of time in case you are worried about forgetting.
by KlingKlang
Mon Apr 17, 2017 4:59 pm
Forum: Personal Finance (Not Investing)
Topic: Capital One 360 $200 bonus (and now $300 checking bonus)
Replies: 221
Views: 40927

Re: Capital One 360 $200 bonus

If I want to close my account after I get the bonus, how do I get my 1099 from them next year for taxes? They'll still send it to you whether the acct is open or not. I had a question on this as well. Capital One never sends you a 1099-INT, you have to log in to your account and download it. What h...
by KlingKlang
Sat Apr 15, 2017 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: How to Avoid Tax Refund Being Seized
Replies: 37
Views: 4948

Re: How to Avoid Tax Refund Being Seized

I am also confused by the terminology that you have used. On a joint return, the refund should go to a joint account. Unfortunately not necessarily correct. If I am filing a joint return with my spouse, must our refund be deposited to a jointly-held account? You can ask IRS to direct deposit a refu...
by KlingKlang
Sat Apr 15, 2017 9:54 am
Forum: Personal Consumer Issues
Topic: leaving early from work
Replies: 57
Views: 9218

Re: leaving early from work

Reason number 4. In this company, looking busy means more than being productive. (Especially, looking busy on nights and weekends.) - John P. Greaney, Retire Early Home Page I just wanted to remind everyone of this classic quote. There may actually be some mythical companies out there where 'We don...
by KlingKlang
Thu Apr 13, 2017 1:57 pm
Forum: Personal Consumer Issues
Topic: Working without an office - Strategy
Replies: 29
Views: 2594

Re: Working without an office - Strategy

The only logic that I can think of behind the 'can't work from home' rule is that management is afraid that they will open their newspapers and read a story titled 'Public employees goofing off at home during working hours!'. A photo of an employee dressed in t-shirt and shorts out on his deck with ...
by KlingKlang
Wed Apr 12, 2017 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Legality of renters posting reviews of a condominium complex?
Replies: 82
Views: 5487

Re: Legality of renters posting reviews of a condominium complex?

But assuming that's not the case and these are just disgruntled tenants, what law do you think would prevent them from posting their opinions to website intended for that very purpose? The issue is they are not owners, just renters. A condominium serves it's owners , not renters. So I am confused w...
by KlingKlang
Wed Apr 12, 2017 8:53 am
Forum: Personal Consumer Issues
Topic: leaving early from work
Replies: 57
Views: 9218

Re: leaving early from work

For anyone looking for inspiration on this subject check out the award winning manga or anime Usagi Drop . Summary: Due to unusual circumstances a single Japanese man becomes the guardian of a pre-school girl. He starts off by running miles each day pre-dawn and after sunset with her on his back to ...
by KlingKlang
Tue Apr 11, 2017 8:53 pm
Forum: Personal Consumer Issues
Topic: leaving early from work
Replies: 57
Views: 9218

Re: leaving early from work

I assume that what you are talking about is flextime which is working the same number of hours that you are expected to but not necessarily at the same time as everyone else. If you just want to work less hours for the same pay in order to have more time for your kids that will usually be a problem....
by KlingKlang
Tue Apr 11, 2017 8:41 am
Forum: Investing - Help with Personal Investments
Topic: Is it a mistake to do 401k, trad ira and Roth IRA?
Replies: 13
Views: 2082

Re: Is it a mistake to do 401k, trad ira and Roth IRA?

As wolf359 stated, your annual Roth IRA space is valuable and should be utilized if possible. On the other hand a 30% tax reduction is pretty impressive. One reason for contributing to a tIRA rather than a Roth IRA is if it lowers your MAGI enough to make you eligible for other credits such as the S...
by KlingKlang
Sat Apr 08, 2017 8:19 am
Forum: Personal Finance (Not Investing)
Topic: Helping parents/grandparents while raising kids
Replies: 47
Views: 5590

Re: Helping parents/grandparents while raising kids

"Helping" can consist of financial contributions ($$$), non-monetary gifts (deliver home cooked meals), and donated labor (4 hours/week of yard work). If you can spread this out between multiple siblings and have everyone feel that they are contributing equally then you should be in national politic...
by KlingKlang
Fri Apr 07, 2017 8:26 am
Forum: Personal Finance (Not Investing)
Topic: Roth IRA conversion for a retired couple
Replies: 11
Views: 1078

Re: Roth IRA conversion for a retired couple

Just a quick note - Roth IRAs are passed to the beneficiaries of the account and do not typically go through probate (wills).
by KlingKlang
Thu Apr 06, 2017 12:15 pm
Forum: Personal Finance (Not Investing)
Topic: How many financial secrets?
Replies: 58
Views: 7161

Re: How many financial secrets?

Here's a story from a supervisory training class decades ago. An experienced (old) foreman told us that whenever one of his workers died (steel industry), he would go to the wake and present the widow with the husband's last paycheck. He said that he stopped doing that after one widow opened the env...
by KlingKlang
Thu Apr 06, 2017 11:51 am
Forum: Personal Consumer Issues
Topic: Mechanical Breakdown Insurance
Replies: 8
Views: 1968

Re: Mechanical Breakdown Insurance

The last time that I bothered to read through all of the fine print on one of these policies I came away with the impression that the only thing actually covered was the entire engine block spontaneously disintegrating. Sort of like one of those great life insurance policies that only pays off if yo...
by KlingKlang
Thu Apr 06, 2017 11:07 am
Forum: Personal Finance (Not Investing)
Topic: How many financial secrets?
Replies: 58
Views: 7161

Re: How many financial secrets?

Interesting topic. Before we were married my wife gave me the third degree on what my income, assets, and debts were. She didn't want to tell me much about her finances mostly because her income and assets were about 10% of mine. For a wedding present her mother gave her a check for $2000. I went ah...
by KlingKlang
Thu Apr 06, 2017 9:03 am
Forum: Personal Finance (Not Investing)
Topic: Cruise Advice???
Replies: 9
Views: 1231

Re: Cruise Advice???

Remember, there will always be one or two folks who won't like anything no matter what. I resemble that remark. You can ignore posts from 80 somethings complaining that they have trouble getting around a ship in their electric scooters or who are scandalized that they would let children aboard a Di...
by KlingKlang
Thu Apr 06, 2017 8:43 am
Forum: Personal Consumer Issues
Topic: How to Sell Gold Watch from Last Kaiser of Germany?
Replies: 11
Views: 2024

Re: How to Sell Gold Watch from Last Kaiser of Germany?

This might be good enough to get you on Pawn Stars with Rick Harrison. As with all items of this type having ten times the weight of the watch in documentation is critical. A photo of Kaiser Wilhelm (note the spelling) handing it to the original recipient would be invaluable. On the other hand if th...
by KlingKlang
Thu Apr 06, 2017 8:28 am
Forum: Investing - Theory, News & General
Topic: PurePoint 1.25% online savings $10K min
Replies: 72
Views: 14822

Re: PurePoint 1.25% online savings $10K min

Opened my PurePoint savings account on March 22, the transfer went through smoothly. No statement or interest posted on March 31, same on April 4. Called their customer service number, got through quickly, was told that statements and interest are posted on the day of the month after the one that th...
by KlingKlang
Thu Apr 06, 2017 7:56 am
Forum: Personal Finance (Not Investing)
Topic: Cruise Advice???
Replies: 9
Views: 1231

Re: Cruise Advice???

While I am sure that you will receive some good advice from this board, the best source for cruise information is Cruise Critic http://www.cruisecritic.com/reviews/. Be sure to read both their user reviews and forum.
by KlingKlang
Tue Apr 04, 2017 8:54 am
Forum: Personal Consumer Issues
Topic: Lending a scooter to a friend for 3 months
Replies: 19
Views: 2302

Re: Lending a scooter to a friend for 3 months

This is probably also state dependent, but in Ohio you need a motorcycle license to operate a motor scooter on public roads.
by KlingKlang
Mon Apr 03, 2017 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Got my second comma -- what is this anticlimactic feeling?
Replies: 55
Views: 8606

Re: Got my second comma -- what is this anticlimactic feeling?

I know exactly what you mean. As far as motivation treat yourself to a double shot of Johnnie Walker Black :beer at $1,000,000 and every $100,000 after that. After $2,500,000 switch to Johnnie Walker Blue. :sharebeer
by KlingKlang
Mon Apr 03, 2017 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: Did you and your spouse have different opinions on retirement income need?
Replies: 31
Views: 3198

Re: Did you and your spouse have different opinions on retirement income need?

We will need a lot more information on your retirement income, assets, debts, expenses, etc. to give useful advice on whether on whether you can afford these two mortgages. As far as different opinions between spouses - a constant source of friction between my wife and myself is 'not having a payche...
by KlingKlang
Mon Apr 03, 2017 12:10 pm
Forum: Personal Finance (Not Investing)
Topic: Balancing saving, investing, and living?
Replies: 23
Views: 3018

Re: Balancing saving, investing, and living?

If your system works for you it sounds fine to me. I'm not sure why you are putting funds for one vacation in your Ally savings account and leaving funds for another in your checking account (I assume that the Ally account pays more interest). When I was accumulating I always had all of my pay depos...
by KlingKlang
Sun Apr 02, 2017 10:15 am
Forum: Personal Consumer Issues
Topic: Weird house buying experience
Replies: 123
Views: 10051

Re: Weird house buying experience

I'm surprised that they let you negotiate on new construction at all. When we did ours everything was "that's the price", plus they ended up charging us triple because we wanted two sinks in the main bath which wasn't one of their standard options. Don't expect your real estate agent to be any help ...
by KlingKlang
Sat Apr 01, 2017 9:13 pm
Forum: Investing - Help with Personal Investments
Topic: Advice for Parents (mid 60's)
Replies: 17
Views: 2506

Re: Advice for Parents (mid 60's)

After your Mom retires and before your parents start SS there may be an opportunity to begin taking withdrawals from the IRAs while they are still in a lower tax bracket. Is your Mom's pension large enough that they will be in the 25% bracket just from that or is there some room in the 15% that they...
by KlingKlang
Sat Apr 01, 2017 8:34 am
Forum: Personal Finance (Not Investing)
Topic: Unemployed for 2-3 days- potential benefits
Replies: 24
Views: 2821

Re: Unemployed for 2-3 days- potential benefits

Has anybody ever had the need to "collect" on the retro-active policy? As it is dealing with insurance company is a hassle and I suspect this would end up magnitude higher than normal. I had to activate my COBRA coverage for my daughter only for one month to cover some work that she had done the da...
by KlingKlang
Fri Mar 31, 2017 6:49 pm
Forum: Investing - Theory, News & General
Topic: educate me on spending/cost in retirement
Replies: 27
Views: 3113

Re: educate me on spending/cost in retirement

Just to rain on your parade, once you and your spouse start spending $12,000/month each on high quality assisted living/nursing home care that money will disappear in no time.
by KlingKlang
Fri Mar 31, 2017 1:25 pm
Forum: Investing - Help with Personal Investments
Topic: Prime Money Market Fund vs. Federal Money Market Fund
Replies: 36
Views: 15721

Re: Prime Money Market Fund vs. Federal Money Market Fund

Didn't a bunch of ultra-short bond funds get creamed in the 2008 financial meltdown? Even Vanguard's Short-Term Investment Grade Fund (which is not "ultra-short") had a surprisingly bad year. It bounced back smartly the next year, but it made me realize that short-duration bond funds are not really...
by KlingKlang
Thu Mar 30, 2017 1:24 pm
Forum: Personal Consumer Issues
Topic: Is the secret to getting wealthy...
Replies: 48
Views: 5474

Re: Is the secret to getting wealthy...

The only millionaire authors that I have ever spent time talking to are in the Science Fiction field, but in general I don't think that you can become wealthy writing a single first book because the publisher will keep the rights and profits from that. Once you write a runaway bestseller you can pul...