Search found 1206 matches

by smitcat
Mon Mar 12, 2018 10:02 am
Forum: Investing - Help with Personal Investments
Topic: Amount saved by age
Replies: 58
Views: 8216

Re: Amount saved by age

I really like the madfientist podcasts. There is a good one from kitces http://pca.st/hfNT. Minimize your major recurring costs to maximize your savings. Before making big purchases calculate cost, time saved, cost per hour of gained/lost free time, increased salary, cost per use. Houses, apartment...
by smitcat
Sun Mar 11, 2018 9:26 am
Forum: Investing - Help with Personal Investments
Topic: Savings Rate for Self Employed
Replies: 9
Views: 646

Re: Savings Rate for Self Employed

We have our own business and have figured out a ratio of savings from total revenue that we put away first each week and quarter. It has become a 'pay yourself first' calculation that varies with income but is easily figured and tracked as imcome changes. Also being self employed we have extra 'cost...
by smitcat
Fri Mar 09, 2018 3:48 pm
Forum: Investing - Help with Personal Investments
Topic: Would YOU retire
Replies: 67
Views: 8784

Re: Would YOU retire

Would you consider assuming you will need the entire health care plan deductible as part of your retirement budget be considered a WANT or a NEED How about taking the past 10 years history of how much your health deductible was actually used and doubling it - that would be a need. If you used it al...
by smitcat
Fri Mar 09, 2018 11:59 am
Forum: Personal Consumer Issues
Topic: Is this a housing bubble?
Replies: 71
Views: 8307

Re: Is this a housing bubble?

@smitcat if he should get an offer to transfer, he'd probably quit and go to work at place(s) in South Lake Union or Redmond. He has a very big network and standing offers. If he takes the transfer, we'd be fine. We are PNWers and moving for a chance to urbanize. That makes a huge amount of sense -...
by smitcat
Fri Mar 09, 2018 7:55 am
Forum: Personal Consumer Issues
Topic: Is this a housing bubble?
Replies: 71
Views: 8307

Re: Is this a housing bubble?

+1 @jminv. Very good analysis. @CMD1; YMMV. We (son and ourselves) have bought 4 places with this REagent. Seattle is where our experience has been. Our son has been acquainted with this REagent for 5 years, 2 years before we engaged her. Our son has been in Seattle for 10 years. We are aware of Da...
by smitcat
Thu Mar 08, 2018 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: Getting a loan to buy larger percentage of company
Replies: 9
Views: 1116

Re: Getting a loan to buy larger percentage of company

Yes, this is my family. It is set up as a S Corp, so I own 10 shares out of 100. The understanding is I can buy in whenever I want, and the value of the company is what the price would be. I don't believe a projected percentage would be added on top of that but I could be wrong and need to check th...
by smitcat
Wed Mar 07, 2018 11:32 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

Yes - your incoming panel rated at 200 amps is likely at 120 volts. Electric service is rated at 240V. In theory you can draw 400A at 120V if the load is evenly split between the legs. You really shouldn't draw more than 80% of that though, and you also need to include any 240V loads. Our 200 amp s...
by smitcat
Wed Mar 07, 2018 11:06 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

+1. I have seen them both ways. Ours feeds the whole panel with load shedding capabilities (like Ron's). We have it dropping the dual wall ovens first, then AC zone 1, then AC zone 2, etc. This can all be programmed into the transfer switch/load shedding config when you set it up and is largely per...
by smitcat
Wed Mar 07, 2018 10:56 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

Yes - your incoming panel rated at 200 amps is likely at 120 volts. Electric service is rated at 240V. In theory you can draw 400A at 120V if the load is evenly split between the legs. You really shouldn't draw more than 80% of that though, and you also need to include any 240V loads. Our 200 amp s...
by smitcat
Wed Mar 07, 2018 10:54 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

When you say 83 amp genset are your referring to 83 amps by 240 volts? Rated voltage output on the genset is 240 volts. 83.3 amps is the spec output and it has a 90 amp circuit breaker. Genset spec sheet: http://kt4qw.com/generator/generac20kw.pdf When you say a 200 amp home are you referring to a ...
by smitcat
Wed Mar 07, 2018 10:33 am
Forum: Investing - Help with Personal Investments
Topic: I want to retire
Replies: 28
Views: 4773

Re: I want to retire

85,000 after tax will cover health insurance for both of us. Will both take SS at 62 @ 1800 month for each of us. Thanks for taking the time to offer advice Please double check to make sure that your anticipated SS payments are correct. When you look them up online for your account they are listed ...
by smitcat
Wed Mar 07, 2018 10:21 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

When you say 83 amp genset are your referring to 83 amps by 240 volts? Rated voltage output on the genset is 240 volts. 83.3 amps is the spec output and it has a 90 amp circuit breaker. Genset spec sheet: http://kt4qw.com/generator/generac20kw.pdf When you say a 200 amp home are you referring to a ...
by smitcat
Wed Mar 07, 2018 7:15 am
Forum: Personal Finance (Not Investing)
Topic: Getting a loan to buy larger percentage of company
Replies: 9
Views: 1116

Re: Getting a loan to buy larger percentage of company

The answer above is good and covers a bunch of it. A few other things: - SBA is likely the easiest to secure - not happening if you have any legal record - or if you have a lower credit rating - they will scrutinize the companies free cash ratio compared to your loan request debt servicing Is this y...
by smitcat
Wed Mar 07, 2018 6:56 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

I'd have to have an electrician properly size the unit to our home. I've done initial requirements but it would be good to have a double check. Our home is 3 stories and about 5000 sf. Plus barn, well, 3 separate HVAC systems, etc, so perhaps it needs a higher capacity generator system. Did your el...
by smitcat
Wed Mar 07, 2018 6:51 am
Forum: Personal Consumer Issues
Topic: Is this a housing bubble?
Replies: 71
Views: 8307

Re: Is this a housing bubble?

Interesting article just yesterday... www.businessinsider.com/san-francisco-bay-area-residents-moving-away-increase-u-haul-rental-prices-2018-3 These articles have been appearing for a while now. https://www.mercurynews.com/2017/09/18/housing-crisis-prompts-bay-area-residents-ponder-exodus-costly-r...
by smitcat
Tue Mar 06, 2018 8:10 pm
Forum: Personal Consumer Issues
Topic: Is this a housing bubble?
Replies: 71
Views: 8307

Re: Is this a housing bubble?

Interesting article just yesterday...
www.businessinsider.com/san-francisco-b ... ces-2018-3
by smitcat
Mon Mar 05, 2018 11:19 am
Forum: Personal Finance (Not Investing)
Topic: Another "Should I self-insure" for LTC Question
Replies: 119
Views: 6968

Re: Another "Should I self-insure" for LTC Question

Also, we don't know if OP doesn't have a waiting period for benefits to be activated. As mentioned by OP, 3 months waiting period. For the $516K, what is the annual benefit? Is there any other benefit? Are your premiums sunk cost? OK, I missed that -- seems like a long waiting period. I have 90 day...
by smitcat
Mon Mar 05, 2018 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Paying off Mortgage Instead of Building Roth
Replies: 23
Views: 2169

Re: Paying off Mortgage Instead of Building Roth

Unlike many I have no problems with mortgages at any time if they make financial sense. I am surprised that your modeled Roth conversions are not more valuable than they appear to be at first looks. Have you tried modeling both scenarios utilizing the RPM calculator/spreadsheet to give you some det...
by smitcat
Mon Mar 05, 2018 10:20 am
Forum: Personal Finance (Not Investing)
Topic: Another "Should I self-insure" for LTC Question
Replies: 119
Views: 6968

Re: Another "Should I self-insure" for LTC Question

In OP's case, there is no fear of running out of her assets in normal circumstances. On the contrary, her draw rate from her assets virtually assure growing assets. Why is this decision not done similar to say $450K term life insurance policy with the premiums being $7K+ and increasing? The answer ...
by smitcat
Mon Mar 05, 2018 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Paying off Mortgage Instead of Building Roth
Replies: 23
Views: 2169

Re: Paying off Mortgage Instead of Building Roth

Unlike many I have no problems with mortgages at any time if they make financial sense. I am surprised that your modeled Roth conversions are not more valuable than they appear to be at first looks. Have you tried modeling both scenarios utilizing the RPM calculator/spreadsheet to give you some deta...
by smitcat
Mon Mar 05, 2018 8:39 am
Forum: Investing - Help with Personal Investments
Topic: Roth Conversion Planning
Replies: 27
Views: 1867

Re: Roth Conversion Planning

I was going to mention a couple points favoring retaining some funds in a TIRA but Carl53 covered that well. My other thought was that you should run your conversion plan through i-orp or the retiree portfolio model. Your plan strikes me as being along the lines of the type of plan suggested by i-o...
by smitcat
Mon Mar 05, 2018 8:16 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

As far as a more realistic cost vs benefit, there is also the option of installing a power bypass panel and having a smaller portable generator such as a Honda 7500, etc, able to hook up and power the essentials such as HVAC, refrigerators, etc. This is the way we went, and I have never regretted i...
by smitcat
Sun Mar 04, 2018 4:20 pm
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

Interesting - 20 KW units on all electric homes typically run at more than 50% load and more than 3 gph when it is cold in a larger home. With a 10% head space and 500 gallon max the typical run time would be about 5.5 days. Spec sheet on my genset show 1.89 Propane G.P.H. at 50% load and 2.90 Prop...
by smitcat
Sun Mar 04, 2018 11:57 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

FWIW + During Hurricane Sandy many natural gas lines had problems with both water in the lines and lack of pressure after day number 2. Seems with larger scale outages the pumping stations were out as well. That's one of the advantages of having our own supply - a 500 gal underground propane tank b...
by smitcat
Sun Mar 04, 2018 8:20 am
Forum: Investing - Theory, News & General
Topic: What is your investment strength?
Replies: 70
Views: 5281

Re: What is your investment strength?

tennisplyr wrote:
Sun Mar 04, 2018 8:08 am
As individuals we no doubt have strengths and weaknesses. As it relates to investing, what do you feel is your particular personal strength or strong point...what has made you successful?
Many weaknesses, too many to think about.
Strength was never to be like the "Joneses".
by smitcat
Sun Mar 04, 2018 8:16 am
Forum: Personal Finance (Not Investing)
Topic: Ratio of minimum vs discretionary retiree couple expenses
Replies: 51
Views: 3055

Re: Ratio of minimum vs discretionary retiree couple expenses

For me it’s almost 1/1 or 120(non discretionary)/80(discretionary). I am having hard time understanding the numbers unless of course you are talking about at least 8 figures in portfolio and having to maintain numerous houses and/or some of the houses still having mortgages and/or multiple country ...
by smitcat
Sun Mar 04, 2018 7:51 am
Forum: Personal Consumer Issues
Topic: Whole House Natural Gas Generator
Replies: 110
Views: 6561

Re: Whole House Natural Gas Generator

FWIW + During Hurricane Sandy many natural gas lines had problems with both water in the lines and lack of pressure after day number 2.
Seems with larger scale outages the pumping stations were out as well.
by smitcat
Sat Mar 03, 2018 7:24 am
Forum: Personal Consumer Issues
Topic: Home backup generator experiences
Replies: 55
Views: 4520

Re: Home backup generator experiences

I'm bumping this thread to say that I'm very, very glad that I installed a transfer switch for my 3,750 W Husky gas-powered generator. The transfer switch was installed 2 years ago, as it seemed like a good idea at time. I'm impacted by the Nor'easter and lost power this evening. In the dark, with ...
by smitcat
Fri Mar 02, 2018 10:35 am
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

I have a hard time understanding the thoughts behind post like these - I do not mean this to be negative just that I have that problem of fully understanding these types of posts. - We have always lived below our means and saved - Our jobs/careers/industry have failed twice along the way - We get '...
by smitcat
Fri Mar 02, 2018 9:41 am
Forum: Personal Finance (Not Investing)
Topic: Ratio of minimum vs discretionary retiree couple expenses
Replies: 51
Views: 3055

Re: Raio of minimum vs discritionary retiree couple expenses

I can get good handle on our current expenses. But once in retirement, are those really representative? During working years, the discretionary spending is time limited i.e. the opportunity to go out or travel at will is curtailed by the lack of free time. This makes it difficult to estimate how mu...
by smitcat
Fri Mar 02, 2018 8:25 am
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

"Which would put that $300k earner having pretty much the same income in retirement." The OP (and also us) do not need the same income in retirement, and we do not need to replace the same % in retirement with folks that save less as we have less costs - based upon the OP's posts. My point is that ...
by smitcat
Fri Mar 02, 2018 8:10 am
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

This has much more to do with your current and expected expenses as well as your anticipated retirement date(s), SS, pensions and your overall portfolio and goals. Certainly these questions and choices have no good rules of thumb and if I would forward a guess it would require a lot more detail to ...
by smitcat
Thu Mar 01, 2018 8:26 pm
Forum: Investing - Help with Personal Investments
Topic: Financial stability of federal pensions
Replies: 16
Views: 1720

Re: Financial stability of federal pensions

I've always thought that the worst case would be the reduction, temporary suspension or total elimination of COLAs but not a reduction in nominal amounts or outright cuts. But that might be wishful thinking on my part. If you receive a federal pension (or if you have thought about this) what assump...
by smitcat
Thu Mar 01, 2018 4:06 pm
Forum: Personal Finance (Not Investing)
Topic: Ratio of minimum vs discretionary retiree couple expenses
Replies: 51
Views: 3055

Re: Raio of minimum vs discritionary retiree couple expenses

Congratulations! But you seem to have completely ignored the social security in your calculation. At worst, it will throw wrench in your tax calculation! But that is a "great problem" to have. Assuming you could not fully clear all tax deferred via Roth conversion before 70, the social security pay...
by smitcat
Thu Mar 01, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: Ratio of minimum vs discretionary retiree couple expenses
Replies: 51
Views: 3055

Re: Raio of minimum vs discritionary retiree couple expenses

thank you! that is exactly the input I was looking for! 40K to 120K sound like big jump but I completely understand the rationale behind it. At least for 120K you are NOT insisting on 3% withdrawal rate but rather allow full 4%. I don't want to get personal but if I were to take a guess you *know* ...
by smitcat
Thu Mar 01, 2018 2:10 pm
Forum: Personal Finance (Not Investing)
Topic: Ratio of minimum vs discretionary retiree couple expenses
Replies: 51
Views: 3055

Re: Rock bottom minimum retiree couple expenses

But 60% of net probably works out be lot less of gross; correct? Actually, the more interesting question to ask would be how does one put a limit on discretionary spending? Because in my mind there is no limit at all! The only limit on discretionary spending comes from then available resources. But...
by smitcat
Thu Mar 01, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Ratio of minimum vs discretionary retiree couple expenses
Replies: 51
Views: 3055

Re: Rock bottom minimum retiree couple expenses

I would like to understand your viewpoint better. Are you suggesting that one needs to plan for same AGI in retirement (so the out of pocket taxes would be similar) as in during working years? And that will provide for 100% discretionary expenses? I wonder if numbers will work out but only if the c...
by smitcat
Thu Mar 01, 2018 10:07 am
Forum: Personal Finance (Not Investing)
Topic: Why child care tax credit for double income families, but not single?
Replies: 32
Views: 3547

Re: Why child care tax credit for double income families, but not single?

We found that DW made too little at her job to justify childcare plus extra eating out costs with two parents working. The decrease in our federal tax bill to essentially zero did not entirely offset our lost income, but it did make daycare + tax costs difficult to justify on two incomes. Her value...
by smitcat
Thu Mar 01, 2018 8:20 am
Forum: Investing - Help with Personal Investments
Topic: Retiring Early
Replies: 22
Views: 6282

Re: Retiring Early

Hello, My wife and I have a combined $2M worth of investment spread across 401K, IRA, and taxable account. I'm 55 and wife is 51. No debt. No kids. I plan to quit my job soon to pursue other interests. Can $2M generate enough monthly interest to support our very low maintenance lifestyle? Thank you...
by smitcat
Wed Feb 28, 2018 11:16 am
Forum: Personal Finance (Not Investing)
Topic: Physical cash
Replies: 121
Views: 7880

Re: Physical cash

Valuethinker wrote:
Wed Feb 28, 2018 10:01 am
smitcat wrote:
Wed Feb 28, 2018 7:27 am
Typically between $15K and $20K bout it varies.
Do you ever worry about theft?
No, not really.
by smitcat
Wed Feb 28, 2018 7:27 am
Forum: Personal Finance (Not Investing)
Topic: Physical cash
Replies: 121
Views: 7880

Re: Physical cash

Typically between $15K and $20K bout it varies.
by smitcat
Tue Feb 27, 2018 8:48 am
Forum: Personal Consumer Issues
Topic: Seller and Lender issues means higher mortgage rates
Replies: 10
Views: 744

Re: Seller and Lender issues means higher mortgage rates

"? Can we later sue the seller's agent and seller for the increased rates because they presented something that was not ready for sale" I could be wrong but I believe if you read the standard RE agents sales document it will state that these types of issues are outside the control of the seller and ...
by smitcat
Tue Feb 27, 2018 8:43 am
Forum: Personal Consumer Issues
Topic: Florida in the summer
Replies: 113
Views: 11361

Re: Florida in the summer

This is very funny, I am the OP from 3 years ago. Well, we've since sold our home in NY and moved here full time in 2017. We absolutely love it! Summer was a bit humid but I played tennis all the time. Golf beach water reached 88 deg. Snowbirds are gone during the summer and there so much to do. We...
by smitcat
Mon Feb 26, 2018 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

"Again, I'm looking in the year to year budget of life. I don't plan on retiring early, and our expenses may go up in the future (more travel, more x), but that's relatively discretionary. We're contemplating buying a home, which is a big expense for us, and would take up a lot of our post-tax incom...
by smitcat
Mon Feb 26, 2018 5:54 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

I get the feeling you didn't look at the article I linked... The chart calls for about 15X savings mutiple at age 65 for someone who has total income of $300K. It 'assumes' that they are saving 10% each year and that they pay 'typical' taxes and spend the rest. That gives us $30K saved a year based...
by smitcat
Mon Feb 26, 2018 4:36 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

The multiples are fine for someone planning to do a "normal" work until "normal" retirement age (i.e. mi-60's) who have no need for "massive savings rates" for any special reason. For people shooting for ER, I wouldn't mention them at all, but OP seems to be content to work until normal retirement ...
by smitcat
Mon Feb 26, 2018 2:02 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

I do not like these "you should be saving X at Y age" charts. What these assume is that your salary has been relatively stable throughout the years. But what if you were in grad school for an extended period of time (like many doctors and attorneys) or have a series of significant raises? All of a ...
by smitcat
Mon Feb 26, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

In that case, check your expected progression and try to make sure you're on track for numbers similar to those in this article https://www.investors.com/etfs-and-funds/retirement/you-need-this-much-retirement-savings-at-your-age-and-income/. If you are, even with the house purchase, then your savi...
by smitcat
Mon Feb 26, 2018 1:31 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

I agree with this. If you plan to retire when you're 70 and live modestly, then your pre-tax savings alone is probably fine. If you want to retire at 45 and live lavishly, then you'll need to save a lot more. There's just not enough info to say what would likely be appropriate for you. Sorry. We're...
by smitcat
Mon Feb 26, 2018 1:11 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4103

Re: After Tax Savings Rate

This has much more to do with your current and expected expenses as well as your anticipated retirement date(s), SS, pensions and your overall portfolio and goals. Certainly these questions and choices have no good rules of thumb and if I would forward a guess it would require a lot more detail to ...