Search found 1501 matches

by smitcat
Fri Jun 01, 2018 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Cheap options for retirement?
Replies: 17
Views: 2511

Re: Cheap options for retirement?

Do you actually want to retire overseas? Or do you feel as if you are forced to do so? Just curious. Looks like I'll be forced to :( How much Social Security will you get? Great question. I'm not going to kick off any political debates but I do not believe SS will exist at my retirement date. Also,...
by smitcat
Thu May 31, 2018 5:08 pm
Forum: Personal Consumer Issues
Topic: Harbor Freight fold-able trailer
Replies: 24
Views: 15566

Re: Harbor Freight fold-able trailer

McCharley wrote:
Fri Feb 23, 2018 1:47 pm
I wouldn't want to tow a HF trailer. With the exception of some of their rolling tool chests, which are surprisingly well made, pretty much everything HF sells is of the lowest possible quality. A trailer is too dangerous for this kind of approach. :shock:
Yes - agreed.
by smitcat
Thu May 31, 2018 3:46 pm
Forum: Personal Consumer Issues
Topic: Top Shelf Liquor Overrated?
Replies: 191
Views: 16788

Re: Top Shelf Liquor Overrated?

In the days when I did consume alcohol, I could never tell the difference. Have someone do a "blind" test. This is the key answer - if you cannot tell the difference in a blind test there is no reason to pay for it. If you can tell the diffrence you can make the judgement whether it is worth the ex...
by smitcat
Thu May 31, 2018 10:45 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13637

Re: Renting vs Owning Your Home

smitcat, But, the PITI is much higher than any of those. And, if it is underwater with a job loss, the hole will be big enough to wipe someone out quickly. <<With a home you can sublet a room, rent it, or sell it,>> In a recession, none of that could help. KlangFool "But, the PITI is much higher th...
by smitcat
Thu May 31, 2018 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 8550

Re: Can we retire in 2018?

The real point is that there was no reason to go below 80% spending. If his income went up, he could spend more, because he was going to be matched at 80% on his final salary. For the rest of us, it works like this... You're making $100,000, spending $80,000 a year, and you've saved $1.5 million (a...
by smitcat
Thu May 31, 2018 10:33 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13637

Re: Renting vs Owning Your Home

smitcat, You are correct. But, the difference is A) Buying a house tend to be the largest purchase of a person's life. B) It is usually purchased with a long-term loan with a claim to future income. Hence, the average person may recover from their overspending of other items. But, overspending on h...
by smitcat
Thu May 31, 2018 9:09 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13637

Re: Renting vs Owning Your Home

Ben Mathew, I disagreed. 1) Average people tend to overspend more on housing when they buy. 2) Average people have little to no savings. Aka, close to zero emergency fund. 3) So, if you throw in a minor financial emergency that occurs regularly in a person's life, the house owner is more likely to ...
by smitcat
Thu May 31, 2018 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Retiree Portfolio Model
Replies: 406
Views: 154935

Re: Retiree Portfolio Model

Bigfoot - just a general thank you and to say that your RPM tool has been very valuable to us and many others.
by smitcat
Thu May 31, 2018 8:41 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13637

Re: Renting vs Owning Your Home

There is a wide-spread public perception that home ownership is an indicator of maturity, that home ownership is the path to comfortable living, and that renting is a sign of irresponsibility, immaturity, or character flaws. That's because most people don't save much, period. In that world, homeown...
by smitcat
Thu May 31, 2018 8:12 am
Forum: Investing - Theory, News & General
Topic: Does my business quality for the 20% pass through deduction?
Replies: 5
Views: 723

Re: Does my business quality for the 20% pass through deduction?

It depends upon the type of business you are in, the amount of revenue you realize , how you accept that revenue, your marriage status, your total family income and many other items. I would hope that your accountant would be knowledgeable about those details ……. certainly no-one else would be able ...
by smitcat
Thu May 31, 2018 7:55 am
Forum: Investing - Theory, News & General
Topic: Renting vs Owning Your Home
Replies: 166
Views: 13637

Re: Renting vs Owning Your Home

There is a wide-spread public perception that home ownership is an indicator of maturity, that home ownership is the path to comfortable living, and that renting is a sign of irresponsibility, immaturity, or character flaws. That's because most people don't save much, period. In that world, homeown...
by smitcat
Thu May 31, 2018 7:34 am
Forum: Personal Finance (Not Investing)
Topic: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc)
Replies: 266
Views: 17955

Re: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc

2. We are an upper middle class family when my kids apply for college (i.e. a few million dollar net worth). Where does upper class start again? Funny thing about Americans, no matter our socioeconomic status, we all think we're middle class. Yes, if you have a couple million dollars, you are in th...
by smitcat
Thu May 31, 2018 7:32 am
Forum: Personal Finance (Not Investing)
Topic: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc)
Replies: 266
Views: 17955

Re: Do average kids from upper middle class families get any free college money (Scholarships / non-repayable grants etc

Our daughter finished college just recently in the NY area and this is a summary.... If the student is really average at everything and parents are 'wealthy' they will get next to nothing. Most students are not average at everything. Grades are the best way to get scholarships. Activities can make a...
by smitcat
Wed May 30, 2018 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 8550

Re: Can we retire in 2018?

As the OP, I was expecting maybe 3 or 4 responses from the boglehead community. I am blown away at the number of responses and helpful advice. Thanks! Regarding our expenses of 50,000. This number is based on our actual expenses for 2017. This number did not include contributions made to the Roth I...
by smitcat
Wed May 30, 2018 7:03 am
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 8550

Re: Can we retire in 2018?

Some good responses. But why would someone retire young and only live off of 50% or less of there income. Why not work longer and secure the 70-80% that will help secure a good retirement income. I doubt many are living off 50% of there income for 20-30 years then retire. It takes many 30 years to ...
by smitcat
Tue May 29, 2018 5:01 pm
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 8550

Re: Can we retire in 2018?

What I would be more concern is maybe you may not have enough. What was 50k a year compared to your salaries? I like the idea of retiring with almost the same salary as when working.. Expenses have very little to do with your salary (except expenses better be less!) Current salary should almost nev...
by smitcat
Tue May 29, 2018 12:42 pm
Forum: Personal Finance (Not Investing)
Topic: Cheap options for retirement?
Replies: 17
Views: 2511

Re: Cheap options for retirement?

We tried to forecast our savings with my DW few times ... then cut the expenses and forecast again... and again. Long story short, in the optimistic scenario we would have $400k-$450k (10-12x annual expenses). This sum doesn't look great even for LCOL area in the US. Did anyone retire with such sum...
by smitcat
Tue May 29, 2018 7:33 am
Forum: Personal Finance (Not Investing)
Topic: Can we retire in 2018?
Replies: 103
Views: 8550

Re: Can we retire in 2018?

Personal Data: Age: 56 , wife: 53 Married with two grown children Finances: 401k: 486,000 IRA: 593,000 Roth IRA (me): 104,000 Roth IRA (wife): 53,000 Brokerage: 50,000 HSA: 25,000 Emergency fund: 218,000 Total: 1,529,000 401k and IRAs are mutual funds with roughly 60/40 stock/bond. Brokerage are mu...
by smitcat
Mon May 28, 2018 8:00 am
Forum: Investing - Theory, News & General
Topic: The Savings Rate Grid
Replies: 47
Views: 6754

Re: The Savings Rate Grid

Question on the net worthify calculator - does it assume that your income is gross? I ask because we save 36% gross, but it works out to closer to 85% of our actual living income. We live on about $4000 a month and save about $3400 a month. Yes, the savings rate you enter should be your pre-tax sav...
by smitcat
Sat May 26, 2018 4:17 pm
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

Choosing to live in Florida is a personal decision that everyone or every family has to make for themselves. Some find that they really want to live in a large city in a specific part of the United States, like NYC, Philadelphia, Chicago, Los Angeles, Dallas, or Houston. They like the weather, cult...
by smitcat
Sat May 26, 2018 4:12 pm
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

These maps show where tornadoes have never hit the zip code since 1950 as well as where tornadoes have hit …..

https://weather.com/storms/tornado/news ... p-20140826
by smitcat
Sat May 26, 2018 4:05 pm
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

Probably the least important of of your criterion, but here are the Whole Foods locations in Florida: https://www.google.com/search?client=safari&rls=en&q=whole+foods+locations+in+florida&npsic=0&rflfq=1&rlha=0&rllag=32346565,-100807827,2031380&tbm=lcl&ved=0ahUKEwiJvYWqkqTbAhVCNH0KHRdCBAkQtgMIOw&tb...
by smitcat
Sat May 26, 2018 5:58 am
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35724

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Our solution is to run the potential Roth conversions thru the RPM calculator/spreadsheet and see what the affect has in store for your case. You can then vary the future possibilities and see would happen. Unfortunately - there is no calculator which will foretell what are earnings, taxes, or draw...
by smitcat
Sat May 26, 2018 5:54 am
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35724

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Our solution is to run the potential Roth conversions thru the RPM calculator/spreadsheet and see what the affect has in store for your case. You can then vary the future possibilities and see would happen. Unfortunately - there is no calculator which will foretell what are earnings, taxes, or draw...
by smitcat
Fri May 25, 2018 6:37 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35724

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Our solution is to run the potential Roth conversions thru the RPM calculator/spreadsheet and see what the affect has in store for your case. You can then vary the future possibilities and see would happen. Unfortunately - there is no calculator which will foretell what are earnings, taxes, or draw...
by smitcat
Fri May 25, 2018 2:18 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35724

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

Would someone inclined to take a mortgage into retirement be similarly inclined to not do Roth conversions above 12% (22%, 24%)? I still have a hard time accepting that people will willing pay 22% or 24% now with a great unknown out there 10-15 years out. A very nuanced discussion with many edges. ...
by smitcat
Fri May 25, 2018 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculations - married, 10 years apart
Replies: 33
Views: 3151

Re: Social Security Calculations - married, 10 years apart

Once we began to look at the entire picture of SS, RMD's , savings drawdown, early retire and the tax implication the maximizing of SS was no longer a priority. Remembering that spendable dollars is the goal and not total account balances at any one point in time. I don't follow this. If real spend...
by smitcat
Fri May 25, 2018 8:48 am
Forum: Personal Finance (Not Investing)
Topic: Social Security Calculations - married, 10 years apart
Replies: 33
Views: 3151

Re: Social Security Calculations - married, 10 years apart

If you each qualify for the $3,300 and $3,700 on your own work records then each of you gets the payment, so yes you do get $7000 between the pair of you. You did not ask, but in your situation it probably maximizes your expected total SS payments if the older husband claims early. Some people woul...
by smitcat
Thu May 24, 2018 10:29 am
Forum: Investing - Help with Personal Investments
Topic: About to retire and at an almost total loss.
Replies: 15
Views: 5059

Re: About to retire and at an almost total loss.

My thoughts....... Once retired and firmly in a lower tax bracket, sell off the stocks and invest in diversified mutual funds. Can you sell the business? My fear would be that income from the business dwindles and you have to choose between letting it go downhill or becoming un-retired to go fix it...
by smitcat
Thu May 24, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: How do I tell if Roth conversions are worth the trouble?
Replies: 76
Views: 6207

Re: How do I tell if Roth conversions are worth the trouble?

One thing related to Roth Conversions that I found I had to be aware of is the Medicare Part B premium cost. The premium does increase with various levels of income (steps rather than a smooth curve). It seems to me if one is impacted by this, it is desirable to keep income close to but not over an...
by smitcat
Thu May 24, 2018 7:57 am
Forum: Personal Finance (Not Investing)
Topic: How do I tell if Roth conversions are worth the trouble?
Replies: 76
Views: 6207

Re: How do I tell if Roth conversions are worth the trouble?

"You have run into a fundamental ORP assumption: "Retirement spending is constant throughout retirement, indexed to inflation." FWIW - There are no less than 5 spending options to choose from with ORP during drawdown. You can select whichever you like or compare all of them within a few minutes by ...
by smitcat
Thu May 24, 2018 7:51 am
Forum: Personal Finance (Not Investing)
Topic: How do I tell if Roth conversions are worth the trouble?
Replies: 76
Views: 6207

Re: How do I tell if Roth conversions are worth the trouble?

I have been struggling with the math on this very issue ever since I retired as well. Here's my situation. I retired three years ago and currently am on the cusp of my 57th birthday. I'm married. I have about $1.6 million in a taxable brokerage account and $3.1 million in tax deferred retirement ac...
by smitcat
Thu May 24, 2018 7:46 am
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

Violent crimes in Orlando are 941/100,000 And most of that is contained within a specific part of Orlando that most people never see. Yes agreed - I currently live in the Northeast in an area that is crime free but is a few miles away from some higher crime areas. Conversely I grew up in a heavy cr...
by smitcat
Thu May 24, 2018 7:42 am
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35724

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I did not realize you were so young and projecting the amounts in the future. You have modeled the savings and are concerned with the tax situation many years down the road what have you done to adjust the tax brackets you are worried about in the future? For a different view if I take our current ...
by smitcat
Wed May 23, 2018 5:48 pm
Forum: Personal Finance (Not Investing)
Topic: How do I tell if Roth conversions are worth the trouble?
Replies: 76
Views: 6207

Re: How do I tell if Roth conversions are worth the trouble?

Defer, defer, defer unless you are an extreme edge casse. See, this is one of the comments that happens here very often. However, I think two different situations get conflated. While I was working, I was all over deferring, contributing the max to IRAs while eligible, and maxing out the 401K when ...
by smitcat
Wed May 23, 2018 5:38 pm
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35724

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

I did not realize you were so young and projecting the amounts in the future. You have modeled the savings and are concerned with the tax situation many years down the road what have you done to adjust the tax brackets you are worried about in the future? For a different view if I take our current ...
by smitcat
Wed May 23, 2018 2:54 pm
Forum: Personal Consumer Issues
Topic: Factory Five build cars
Replies: 23
Views: 2577

Re: Factory Five build cars

I am not sure of the FF Cobras as I built ours quite a while back but I could not get into any of the cars with a 90" wheelbase - just not enough room for me at a bit over 6'2" and for my legs and a clutch pedal. I ended up with a slightly lengthened Cobra wheelbase kit (with appropriate scaling in...
by smitcat
Wed May 23, 2018 12:39 pm
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

Wherever you're thinking, plan a week's vacation there during the summer. My wife and I were thinking Ft Myers to retire. We went there for a week. We crossed all of Florida off our list. My mom has lived in Orlando for 10 years and just sold her place to move back to Massachusetts. She got tired o...
by smitcat
Wed May 23, 2018 12:22 pm
Forum: Personal Finance (Not Investing)
Topic: How do I tell if Roth conversions are worth the trouble?
Replies: 76
Views: 6207

Re: How do I tell if Roth conversions are worth the trouble?

Funny, I was just trying to use iORP again today. When I put in my numbers and selected the 24% tax bracket, it errored out. The error was "model x will not solve, possibly because your Roth conversion tax bracket limit may be over-constricting your taxable income." I tried it several ways, but cou...
by smitcat
Wed May 23, 2018 11:29 am
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

No offense, but being scared of Alligators is about the most ridiculous reason to avoid Florida. They aren't aggressive or hostile towards people in the wild, I've crossed several on the golf courses during my 35 years of living in Jacksonville. They are scary looking and the occasional human death...
by smitcat
Wed May 23, 2018 9:33 am
Forum: Investing - Theory, News & General
Topic: Why do so many people quote "You will likely be in a lower tax bracket in retirement"
Replies: 550
Views: 35724

Re: Why do so many people quote "You will likely be in a lower tax bracket in retirement"

If you believe 4 million in tax-defered is tooo much, stop at a smaller number like 3 million and switch to Roth. KlangFool Honestly that seems to be really good advise. That 24% tax bracket will stretch a long dollar amount so switching to Roth later on won't hurt anymore than doing it now, but ma...
by smitcat
Wed May 23, 2018 7:59 am
Forum: Investing - Help with Personal Investments
Topic: How do you stop moving the goal posts.
Replies: 62
Views: 5057

Re: How do you stop moving the goal posts.

If I measure anything by my financial balances it is a sense of security There is no number higher than 100%. By definition, that is the highest it can be. :) Not sure I understand what you are driving at. You're already secure. 100% you won't run out of money. Continuing to work longer will not in...
by smitcat
Tue May 22, 2018 9:12 pm
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

Our family of 3 (in our mid 30's with a child almost 5 years old) is considering moving from the north east to Florida but need some help zoning in on specific areas. We appreciate the convenience that comes with living in a city, but don't need it to be too large. We like being able to get to movi...
by smitcat
Tue May 22, 2018 4:45 pm
Forum: Personal Finance (Not Investing)
Topic: iORP: plan for future of the software (?)
Replies: 3
Views: 425

Re: iORP: plan for future of the software (?)

I know there are users of iORP on Bogleheads. How many, I don't know. My impression is relatively few as there are relatively few related threads. I have found ORP to be very valuable. And I fear, it's almost irreplaceable. ORP users may know, it is supported by a single developer (a really smart, ...
by smitcat
Tue May 22, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: How do I tell if Roth conversions are worth the trouble?
Replies: 76
Views: 6207

Re: How do I tell if Roth conversions are worth the trouble?

Greetings all. Although I didn't actually find this site until after I retired, I'm finding I'm aligned with most of the BH way. I'm now trying to figure out some stuff, for which I think I need some help. I'd like to discuss notional numbers, rather than expose all my real numbers. My wife and I b...
by smitcat
Tue May 22, 2018 3:43 pm
Forum: Personal Consumer Issues
Topic: Factory Five build cars
Replies: 23
Views: 2577

Re: Factory Five build cars

I'll give you a hint. Look at my screen name. My kit number was 1846k and I picked it up in September of 99. A Cobra is the simplest to build and I'd say that if you've got tools and a floor jack, you can probably build one. I have a lift in my garage and a stupid amount of tools. The manual alone ...
by smitcat
Tue May 22, 2018 3:35 pm
Forum: Personal Consumer Issues
Topic: Florida Living
Replies: 49
Views: 5810

Re: Florida Living

the "...long evening walk to a beach" could be the deal breaker in most of Florida. Such housing begins in the seven figures in this part of the state. Gill There are a number of places that are a short walk to the beach much less than 7 figure.... "But we also would love to be able to access water...
by smitcat
Tue May 22, 2018 1:45 pm
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 262
Views: 48856

Re: "Why 97% of People Don't Use 529 College Savings Plans."

Realistically though just how many people make enough to fund one? I just see very very little use in doing one. You are talking about needing a minimum saving amount of 48,000 before it makes sense to save in one. On top of that many people who are able to save 48,000 per year may have after tax 4...
by smitcat
Tue May 22, 2018 1:35 pm
Forum: Personal Consumer Issues
Topic: Factory Five build cars
Replies: 23
Views: 2577

Re: Factory Five build cars

I'll give you a hint. Look at my screen name. My kit number was 1846k and I picked it up in September of 99. A Cobra is the simplest to build and I'd say that if you've got tools and a floor jack, you can probably build one. The manual alone is all I had when I started building. Now, you've got bot...
by smitcat
Tue May 22, 2018 12:06 pm
Forum: Personal Consumer Issues
Topic: Factory Five build cars
Replies: 23
Views: 2577

Re: Factory Five build cars

Being a corvette enthusiast as well I have been in a few GTM's and here are some thoughts.... - if you are at or over 6'2" it will be very tight - if you atre of generous proportions it will be too tight I was afraid of that. The web says 6'3 (I am 6'4). I am not overly generously proportioned but,...