Search found 1853 matches

by smitcat
Sun Sep 23, 2018 4:49 pm
Forum: Personal Finance (Not Investing)
Topic: Career Question - Upper Mgmt Position
Replies: 5
Views: 1125

Re: Career Question - Upper Mgmt Position

Thanks for the replies. My OP was more about getting the ideas out there and didn't go into detail of the personal nuances. My current boss holds the position. He shares his opinions and I see his challenges. It's largely due to personality and his lack of a relationship at the top. There's a posit...
by smitcat
Sun Sep 23, 2018 4:37 pm
Forum: Investing - Theory, News & General
Topic: Time periods for personal investment
Replies: 25
Views: 1741

Re: Time periods for personal investment

OP, My answer is probably totally useless to you. 1) I save 1 year of annual expense every year. 2) I keep 1 year of the emergency fund. 3) I believe in the efficient frontier of 70/30 to 30/70. So, essentially after 1 year of the emergency fund aka 1 year of working, I can start investing with an ...
by smitcat
Sun Sep 23, 2018 12:46 pm
Forum: Personal Consumer Issues
Topic: Minimalist Lifestyle
Replies: 80
Views: 8662

Re: Minimalist Lifestyle

I feel like as an average materialistic American, I have accumulated a lot of stuff over the years and am now trying to declutter and keep only the essentials. I read a story about a couple that sold everything except a few suitcases and lived for extended periods around the world. It sounded frigh...
by smitcat
Sun Sep 23, 2018 10:12 am
Forum: Investing - Help with Personal Investments
Topic: Am I on track for retirement? Also: Simplify? Optimize?
Replies: 7
Views: 1412

Re: Am I on track for retirement? Also: Simplify? Optimize?

15X plus SS seems quite low to me even for a “normal” retirement age like 65. At 55 I’d be concerned about running out of money. Assuming WR of 3%, you’re looking at 33X. I follow your posts and have ,earned from them , tnank you. I am curious if his 15X gross income is relevant since the OP also s...
by smitcat
Fri Sep 21, 2018 10:50 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming Strategy review
Replies: 19
Views: 1626

Re: Social Security Claiming Strategy review

How do all these 'maximize SS ' posts take into consideration the affects outside of SS such as potential Roth conversions, other pensions, RMD's , potential single spouse etc? They all handle "single spouse", most handle "other pensions". I don't know of any that take RMDs or potential Roth conver...
by smitcat
Fri Sep 21, 2018 10:36 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming Strategy review
Replies: 19
Views: 1626

Re: Social Security Claiming Strategy review

How do all these 'maximize SS ' posts take into consideration the affects outside of SS such as potential Roth conversions, other pensions, RMD's , potential single spouse etc? I have found that if you want to maximize your incomes over extended time periods when retired it is imperative that you c...
by smitcat
Fri Sep 21, 2018 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Rate our 5 yr plan and beyond
Replies: 25
Views: 1518

Re: Rate our 5 yr plan and beyond

What are your priorities? Is it for your wife to be able to find a job with a shorter commute, even if it means less money? It is to be able to afford a child in 4 years? Why 4 years? How will you afford child care with a reduced income? Is it for you to be able to retire/take a pay cut at 55? Is t...
by smitcat
Fri Sep 21, 2018 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Rate our 5 yr plan and beyond
Replies: 25
Views: 1518

Re: Rate our 5 yr plan and beyond

Do you have two relatively expensive cars or only one? Who is putting on the large commute and mileage each week and on which car? If you can save a bunch weekly it will go a long ways to making cuts to the home expenses. Just the one. Other car is a paid for 2012 Honda Fit w/75k miles that is the ...
by smitcat
Fri Sep 21, 2018 8:41 am
Forum: Personal Finance (Not Investing)
Topic: Rate our 5 yr plan and beyond
Replies: 25
Views: 1518

Re: Rate our 5 yr plan and beyond

Do you have two relatively expensive cars or only one? Who is putting on the large commute and mileage each week and on which car? If you can save a bunch weekly it will go a long ways to making cuts to the home expenses. Just the one. Other car is a paid for 2012 Honda Fit w/75k miles that is the ...
by smitcat
Fri Sep 21, 2018 8:36 am
Forum: Personal Finance (Not Investing)
Topic: Rate our 5 yr plan and beyond
Replies: 25
Views: 1518

Re: Rate our 5 yr plan and beyond

What are your priorities? Is it for your wife to be able to find a job with a shorter commute, even if it means less money? It is to be able to afford a child in 4 years? Why 4 years? How will you afford child care with a reduced income? Is it for you to be able to retire/take a pay cut at 55? Is t...
by smitcat
Fri Sep 21, 2018 8:05 am
Forum: Personal Finance (Not Investing)
Topic: Rate our 5 yr plan and beyond
Replies: 25
Views: 1518

Re: Rate our 5 yr plan and beyond

Do you have two relatively expensive cars or only one?
Who is putting on the large commute and mileage each week and on which car?

If you can save a bunch weekly it will go a long ways to making cuts to the home expenses.
by smitcat
Fri Sep 21, 2018 8:02 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

We took it a 62 and now in late sixties. I know we've used a couple of hundred thousand of SS money while ours continued to grow. A bird in the hand kind of thing. I have zero regrets!! That maybe the best solution in your case. Have you figured out a few of these ahead of time? - what Roth convers...
by smitcat
Fri Sep 21, 2018 8:00 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

Smitcat and 2015 thanks for your positive response to my reasons for delaying SS. It is comforting to read that other BHs are thinking along the same lines. I don't think others who are taking SS early are wrong. I just wanted to list my personal priorities. SGM - We used the IORP long form as well...
by smitcat
Fri Sep 21, 2018 7:49 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Claiming Strategy review
Replies: 19
Views: 1626

Re: Social Security Claiming Strategy review

How do all these 'maximize SS ' posts take into consideration the affects outside of SS such as potential Roth conversions, other pensions, RMD's , potential single spouse etc? I have found that if you want to maximize your incomes over extended time periods when retired it is imperative that you co...
by smitcat
Fri Sep 21, 2018 7:36 am
Forum: Personal Consumer Issues
Topic: Did you really have something to retire to?
Replies: 133
Views: 11622

Re: Did you really have something to retire to?

I retired to a life with less stress. I am worried to a life with more stress if there is no specific plans. FWIW - we make the plans before retirement so there will be no difference when we are fully retired. Those plans include doing more of what we currently do - not hard to imagine at all.
by smitcat
Thu Sep 20, 2018 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: Rate our 5 yr plan and beyond
Replies: 25
Views: 1518

Re: Rate our 5 yr plan and beyond

Are you 41/37 now, or will you be in 4 years? I am asking because of fertility issues. You could have paid $30,000 for a car and gotten a reliable sedan, or bought a used Jeep. Best to not kid yourself about the Jeep. It was an indulgence that is interfering with your larger goals. in 4 yrs, and ye...
by smitcat
Thu Sep 20, 2018 10:55 am
Forum: Personal Consumer Issues
Topic: Bathroom and Basement Remodel Costs
Replies: 56
Views: 3758

Re: Bathroom and Basement Remodel Costs

Seems a bit high expenditure on the basement for such a relatively short occupancy time. 73k to remod a basement vs from scratch is a lot, though a lot can get done for that much, indeed. But, if funding is not a priority, why not enjoy. Generally, kitchen remods reap the most resale benefit, then ...
by smitcat
Thu Sep 20, 2018 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Rate our 5 yr plan and beyond
Replies: 25
Views: 1518

Re: Rate our 5 yr plan and beyond

"The other part of the plan is to prepare us financially for the possibility of having or adopting a kid at the 4-5 yr mark. For financial reasons, I'd be perfectly happy not having a kid." FWIW - I cannot get past this line. If you folks are planning and want to know the most important thought rega...
by smitcat
Thu Sep 20, 2018 10:02 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

- what all of this will mean for a surviving spouse All good points to ponder and I would add - what having done tIRA to Roth conversions would have meant for beneficiaries vs. tax consequences of passing IRA's to children Yes - of course I missed that. Its believe its always going to be 'better' u...
by smitcat
Thu Sep 20, 2018 9:05 am
Forum: Personal Consumer Issues
Topic: Bathroom and Basement Remodel Costs
Replies: 56
Views: 3758

Re: Bathroom and Basement Remodel Costs

Remodeling a bathroom and basement and thought I'd ask the CF gurus. Got two quotes back. Both are within a few hundred or a few thousand of each other. My wife was way closer to guessing the quotes than my cheap ass was at it. House built in 2004 Bathroom Full gut, roughly 12X14. Relocate shower o...
by smitcat
Thu Sep 20, 2018 9:01 am
Forum: Personal Consumer Issues
Topic: Bathroom and Basement Remodel Costs
Replies: 56
Views: 3758

Re: Bathroom and Basement Remodel Costs

Bathroom Full gut, roughly 12X14. $2,000 Relocate shower other side of room $1,000 Tub, sinks, toilet largely in same spot Install 7 new LED can lights, 4 sconces, one small pendant light $1,000 Built 4X4 water closet $2,000 Install 2 fans, one main bath and one water closet $1,000 Drywall, paint $...
by smitcat
Thu Sep 20, 2018 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

We took it a 62 and now in late sixties. I know we've used a couple of hundred thousand of SS money while ours continued to grow. A bird in the hand kind of thing. I have zero regrets!! That maybe the best solution in your case. Have you figured out a few of these ahead of time? - what Roth convers...
by smitcat
Wed Sep 19, 2018 4:45 pm
Forum: Personal Consumer Issues
Topic: My 2017 CRV is a victim of the dreaded oil gas-dilution issue
Replies: 569
Views: 83838

Re: My 2017 CRV is a victim of the dreaded oil gas-dilution issue

So today we had another visit to Honda service. A warning appeared on my dash display that there was an "automatic high beam malfunction" in the middle of a sunny day when the headlights were not in use. They said they did a "software update" to hopefully address the problem. I wonder where the sof...
by smitcat
Wed Sep 19, 2018 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

I just received my first SS deposit at age 70. I filed and suspended so that DW could take a spousal benefit at her FRA. Her own benefit will grow until she takes it at 70. We had several reasons to delay: 1. Family history of extreme longevity. Good health. 2. We could afford to delay. 3. We did c...
by smitcat
Wed Sep 19, 2018 10:53 am
Forum: Investing - Theory, News & General
Topic: “Majority of working-age Americans have no retirement savings”
Replies: 73
Views: 4088

Re: “Majority of working-age Americans have no retirement savings”

The saving grace for many of these people is that they still have some sort of pension. But for many, perhaps most, they will have little choice but to keep working until they are physically incapable of doing so. At that point, they'll have to make do with Social Security benefits, which are low s...
by smitcat
Wed Sep 19, 2018 10:30 am
Forum: Investing - Theory, News & General
Topic: “Majority of working-age Americans have no retirement savings”
Replies: 73
Views: 4088

Re: “Majority of working-age Americans have no retirement savings”

The saving grace for many of these people is that they still have some sort of pension. But for many, perhaps most, they will have little choice but to keep working until they are physically incapable of doing so. At that point, they'll have to make do with Social Security benefits, which are low s...
by smitcat
Tue Sep 18, 2018 3:15 pm
Forum: Personal Finance (Not Investing)
Topic: Leasing Cars in Retirement
Replies: 98
Views: 7549

Re: Leasing Cars in Retirement

I recently bought a boat by "triggering a taxable event." In my case I had funds specifically earmarked for a purchase such as this (car, truck, boat, etc.) So I'd have to ask you - if you're not willing to spend the money on a car, then what else are you using that money for? Put it this way - lea...
by smitcat
Tue Sep 18, 2018 12:49 pm
Forum: Personal Consumer Issues
Topic: My 2017 CRV is a victim of the dreaded oil gas-dilution issue
Replies: 569
Views: 83838

Re: My 2017 CRV is a victim of the dreaded oil gas-dilution issue

Just got this email from the dealer where I bought the CRV and just took it in for the oil dilution issue. Coincidence or cause- and - effect? Vehicle is less than 14 months old and I don't ever recall an offer to trade one that soon. Maybe all the oil-dilution owners are viewed as ripe fruit. base...
by smitcat
Tue Sep 18, 2018 8:31 am
Forum: Investing - Theory, News & General
Topic: Argument for taking social security before 70. Comments?
Replies: 134
Views: 10083

Re: Argument for taking social security before 70. Comments?

We're less interested in squeezing every dollar out of the SSA, and more interested in using the longevity insurance feature of the program. Thus it makes sense for me as the much higher earner to delay my benefit as long as I am in average or better health, and for my spouse to take hers somewhere...
by smitcat
Mon Sep 17, 2018 4:59 pm
Forum: Investing - Help with Personal Investments
Topic: Employer won't Match 401k. Why?
Replies: 52
Views: 5569

Re: Employer won't Match 401k. Why?

I appreciate your posting. I have wondered if going the Safe Harbour 3 percent route was the best way to go for the employees. Maybe it is. At least 3 percent of their salary is something saved and everyone participates. Most of my employees seem to be interested in the salary vs the 401K No- not e...
by smitcat
Mon Sep 17, 2018 2:51 pm
Forum: Investing - Help with Personal Investments
Topic: Employer won't Match 401k. Why?
Replies: 52
Views: 5569

Re: Employer won't Match 401k. Why?

A 401K can legally have up to $55.5K put into it per year. That's $18.5K pretax from the employee, up to 100% pretax match from employer, and additional 18.5K post tax from employee "if your plan allows." First, please correct me if I got any part of that wrong. Second, who decides and how is it de...
by smitcat
Mon Sep 17, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

I am not sure how you arrived at a SS benifit of $43,524/yr @ 70 but perhaps check the source to make sure your calcs are correct. Seems doable for a relatively high lifetime earner. $43,524/yr @ 70 requires an age 66 FRA PIA of about $2,748 (2747.73 * 1.32 * 12 = 43524.04). Current maximum PIA per...
by smitcat
Mon Sep 17, 2018 11:22 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

"A COLA-protected and largely tax-free $43,524 per year at least means I won't be poor if I live into my 90s and zero out everything but home equity" I am not sure how you arrived at a SS benifit of $43,524/yr @ 70 but perhaps check the source to make sure your calcs are correct. SSA publication no...
by smitcat
Mon Sep 17, 2018 11:20 am
Forum: Investing - Help with Personal Investments
Topic: Employer won't Match 401k. Why?
Replies: 52
Views: 5569

Re: Employer won't Match 401k. Why?

As a former small business owner that was involved in recruiting I can tell you that we did no get much bang for our buck for our generous 401k match. The large majority of candidates compared us to our competition on starting salary. That was what they chose to care about. So we went the safe harb...
by smitcat
Mon Sep 17, 2018 10:50 am
Forum: Investing - Help with Personal Investments
Topic: Employer won't Match 401k. Why?
Replies: 52
Views: 5569

Re: Employer won't Match 401k. Why?

As a former small business owner that was involved in recruiting I can tell you that we did no get much bang for our buck for our generous 401k match. The large majority of candidates compared us to our competition on starting salary. That was what they chose to care about. So we went the safe harb...
by smitcat
Mon Sep 17, 2018 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

I'm career high income. I view Social Security as very good COLA-protected insurance against outliving my retirement portfolio. If you have been "career high income" what's the real chances of outliving your retirement portfolio? Income and wealth are two different things. I've been divorced twice....
by smitcat
Mon Sep 17, 2018 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

"It's not politically possible to cut benefits. Sometime in the next decade, taxes are going up." This is not the first time it has happened - perhaps research how it was 'corrected' the past time. They boosted the FRA for people too young to be much of a voting block. In 1983 the last time the law...
by smitcat
Mon Sep 17, 2018 10:05 am
Forum: Personal Finance (Not Investing)
Topic: Delaying Social Security Until 70
Replies: 115
Views: 9335

Re: Delaying Social Security Until 70

I've got a long way to go but I've already decided im taking it at 62, and I have a pension and max the 401k and roth...it's not enough to factor whether or not you'll live to 70. You could live til 70 and die after a year or two, it still would not have been worth it to wait. Factor the odds of li...
by smitcat
Mon Sep 17, 2018 9:19 am
Forum: Personal Consumer Issues
Topic: Solar Install w/ SolarCity
Replies: 36
Views: 2589

Re: Solar Install w/ SolarCity

Interesting analysis. As others have mentioned, that is too long of a break-even to interest me. Here in Arizona, solar sounds great, but there is quite a penalty from the electric company (fees) for going with solar. We looked into it, but our relatively low use of AC would make the payoff even lo...
by smitcat
Mon Sep 17, 2018 8:51 am
Forum: Personal Finance (Not Investing)
Topic: Delaying SS? How Long It Will Take for It to Pay Off?
Replies: 53
Views: 5263

Re: Delaying SS? How Long It Will Take for It to Pay Off?

All calculators I tried.... Likely none of them included the effect of SS on taxation of traditional->Roth conversions. The more t->R you can do at low marginal rates, the more favorable it is to defer SS. The marginal rates kind of depend on your filing status. Filing single, the 12% bracket goes ...
by smitcat
Mon Sep 17, 2018 8:07 am
Forum: Personal Finance (Not Investing)
Topic: Delaying SS? How Long It Will Take for It to Pay Off?
Replies: 53
Views: 5263

Re: Delaying SS? How Long It Will Take for It to Pay Off?

Greenman72 wrote:
Mon Sep 17, 2018 8:06 am
I don't know much about anything.
But I know that delaying it until 70 doesn't help if you die at 69.
Absolutely true - If you are going to die at 69 then retire ASAP and take SS at 62.
by smitcat
Mon Sep 17, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Delaying SS? How Long It Will Take for It to Pay Off?
Replies: 53
Views: 5263

Re: Delaying SS? How Long It Will Take for It to Pay Off?

https://www.fool.com/amp/retirement/2018/09/16/delaying-social-security-benefits-heres-how-long-i.aspx This article seems to contradict most of the break-even calculators I have seen before including those discussed on this forum. For instance, the article states that for those with FRA of 67, dela...
by smitcat
Sun Sep 16, 2018 9:15 pm
Forum: Investing - Help with Personal Investments
Topic: Employer won't Match 401k. Why?
Replies: 52
Views: 5569

Re: Employer won't Match 401k. Why?

I am responsible for the 401K plan at a 50ish employee company. When I came onboard, we had a 401K with high fees but "no cost" to the employer. A few years ago, we switched to a 401K plan using Vanguard (actually Ascensus, which is also a hassle. Employers with less than $20M in assets can't work ...
by smitcat
Sat Sep 15, 2018 5:51 am
Forum: Personal Finance (Not Investing)
Topic: Massive Student Loan Debt - Fiancee
Replies: 108
Views: 10299

Re: Massive Student Loan Debt - Fiancee

And it appears that the OP placed one post and has not returned.....
by smitcat
Fri Sep 14, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: Pay off 3.125% 152k mortgage early?
Replies: 37
Views: 3200

Re: Pay off 3.125% 152k mortgage early?

Spock would not pay the loan off early unless he was having one of his emotional episodes.
Neither would we pay it off with those numbers. Prosper whatever you do.
by smitcat
Fri Sep 14, 2018 8:27 am
Forum: Investing - Theory, News & General
Topic: Connecting with Entrepreneurs
Replies: 2
Views: 244

Re: Connecting with Entrepreneurs

- SCORE
- SBDC in your area and ones in adjacent areas
- Angel investing groups near you
- LinkedIn
- Any larger local funding group(s)
by smitcat
Thu Sep 13, 2018 8:38 pm
Forum: Investing - Help with Personal Investments
Topic: Determining when to take Social Security if you don’t need the money
Replies: 21
Views: 1828

Re: Determining when to take Social Security if you don’t need the money

As usual, grabiner's analysis is on the mark. OP notes "we do not intend on needing Social Security for our living expenses" and further "(we) intend to leave a legacy to our family". My understanding is that they want to maximize the payout that will go to their family. Unless there are issues wit...
by smitcat
Thu Sep 13, 2018 11:53 am
Forum: Personal Consumer Issues
Topic: My 2017 CRV is a victim of the dreaded oil gas-dilution issue
Replies: 569
Views: 83838

Re: My 2017 CRV is a victim of the dreaded oil gas-dilution issue

It has been reported for the 2.4 engine as well, as here (scroll down to #13): https://www.crvownersclub.com/forums/11-shoppin-test-drivin/178209-very-cautious-about-buying-crv-after-reading-some-post-here-advice-please-2.html I have no experience or first-hand knowledge of oil dilution problems wi...
by smitcat
Thu Sep 13, 2018 11:28 am
Forum: Personal Consumer Issues
Topic: Buying a house 1 mile away from a municipal landfill
Replies: 43
Views: 3477

Re: Buying a house 1 mile away from a municipal landfill

I'm living in the real world. The point of a lawsuit threat is not to win, but to get real estate agent to reduce their fee in order to have the deal go through if one is stuck in the deal or if one wants to back out and not lose their entire deposit. Will definitely not work where we are - unfound...