Search found 1209 matches

by smitcat
Mon Feb 26, 2018 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4106

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: 4106

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: 4106

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
Mon Feb 26, 2018 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4106

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
Mon Feb 26, 2018 12:18 pm
Forum: Investing - Help with Personal Investments
Topic: Need $100,000 in 20 years. Help!
Replies: 52
Views: 5780

Re: Need $100,000 in 20 years. Help!

I don't know the details of the PAYE plan, but if you are paying so little on the loan each month that you aren't even covering the interest and then simultaneously saving money to pay taxes on the forgiveness, why not just pay down the loan. It's a guaranteed return of 6% on the money you are savi...
by smitcat
Mon Feb 26, 2018 11:23 am
Forum: Personal Consumer Issues
Topic: Florida in the summer
Replies: 113
Views: 11373

Re: Florida in the summer

Climate differs inland v coast. Another plus: lower latitude = more hours of sunlight. Compare sunset times for NYC and West Palm sometime, interesting. Today, 4:56 pm v 5:51 pm. Travel a little in the hot months. On average sunrises / sunsets will always be later in Florida because it is quite a b...
by smitcat
Mon Feb 26, 2018 11:18 am
Forum: Personal Finance (Not Investing)
Topic: After Tax Savings Rate
Replies: 43
Views: 4106

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 a...
by smitcat
Fri Feb 23, 2018 3:57 pm
Forum: Personal Consumer Issues
Topic: Bogleheads with $100K+ MSRP cars?
Replies: 113
Views: 13119

Re: Bogleheads with $100K+ MSRP cars?

Surprised no one admitting to buying a truck in that range! I seem them all the time here. https://www.nytimes.com/2018/02/15/automobiles/wheels/luxury-trucks-suv.html Because the topic is specifically $100k+ cars, and though tons of pricey trucks do indeed get sold, it's still pretty much impossib...
by smitcat
Fri Feb 23, 2018 3:37 pm
Forum: Investing - Theory, News & General
Topic: GLWB annuities
Replies: 6
Views: 758

Re: GLWB annuities

Essentially the problem is similar to whether or not taking the Option of exercising SS against alternatives. depends :oops: Ymmv :greedy I do not see a parallel with taking SS as that has an inflation adjustment and also is non negotiable other than year to take. If I had a choice (which I do not)...
by smitcat
Fri Feb 23, 2018 3:33 pm
Forum: Investing - Help with Personal Investments
Topic: Financial proposal from Adviser
Replies: 37
Views: 3525

Re: Financial proposal from Adviser

Please note - I am not knocking American funds. The OP had a prety simple question: If he puts his money with Edward Jones in those funds, including bond funds and stocks will it quadruple in 20 years. IMHO I believed that answer to be quite easy - no it would not. Of course he can use this site and...
by smitcat
Fri Feb 23, 2018 11:23 am
Forum: Personal Finance (Not Investing)
Topic: How am I really doing for retirement savings?
Replies: 45
Views: 4474

Re: How am I really doing for retirement savings?

In general asking how you are doing without a good handle on your specific numbers - income, current debt, current saved, projected SS, projected pensions, projected expenses just leaves everyone with a subjective conversation. Perhaps load your real data into one or more of the better retirement p...
by smitcat
Fri Feb 23, 2018 11:05 am
Forum: Investing - Help with Personal Investments
Topic: Financial proposal from Adviser
Replies: 37
Views: 3525

Re: Financial proposal from Adviser

I received a hypothetical proposal from a financial advisor with EJ, I moved all my accounts from them but still have a 529 plan with them. It's a proposal to grow my funds from around 200K to almost 800K over a span of 20 years. It would be half in American funds (index funds, bond index funds) an...
by smitcat
Fri Feb 23, 2018 11:03 am
Forum: Personal Finance (Not Investing)
Topic: How am I really doing for retirement savings?
Replies: 45
Views: 4474

Re: How am I really doing for retirement savings?

Have we all forgotten about the "mystery asset" ? It's because of the mystery asset and the cost of childcare for two kids is why I'm pinched for change right now. Debt service on the mystery asset is right about $13,000 a year (and in 2018 will not be tax deductible) and I spent about $27,000 on c...
by smitcat
Fri Feb 23, 2018 10:03 am
Forum: Personal Finance (Not Investing)
Topic: Time for twins to go to daycare
Replies: 38
Views: 2801

Re: Time for twins to go to daycare

I misread the original post, so I'm deleting my response. But to the OP: You say daycare for two infants costs $500 per month per kid, or $12,000 per year? Where in the world do you get daycare that cheap? In my area it runs around $20,000 per year per kid, or about $40,000 for twin infants. And ou...
by smitcat
Thu Feb 22, 2018 12:49 pm
Forum: Personal Consumer Issues
Topic: Florida in the summer
Replies: 113
Views: 11373

Re: Florida in the summer

One other good thing about Florida that I haven't seen mentioned is that we have greenery and flowers all year long. None of those northern brown lawns and leafless trees that appear dead from Fall til Spring. Sorry, but I love my wonderful change of seasons in Minnesota. When you guys in Florida a...
by smitcat
Wed Feb 21, 2018 7:51 pm
Forum: Personal Finance (Not Investing)
Topic: Rant about Savings Rate
Replies: 25
Views: 2099

Re: Rant about Savings Rate

Okay forget about savings rate. How about keeping track of TOTAL dollars saved and invested each year. In the end that is what compounds and not savings rate. Good luck. Savings rate can draw a direct correlation to how long until you can retire. Dollar figures are more convoluted (I saved $40k... ...
by smitcat
Wed Feb 21, 2018 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Public Service Loan Forgiveness-Has it worked for anyone?
Replies: 27
Views: 2994

Re: Public Service Loan Forgiveness-Has it worked for anyone?

If the loan or parts thereof are forgiven does that then add to your taxable income?
by smitcat
Wed Feb 21, 2018 9:19 am
Forum: Personal Finance (Not Investing)
Topic: Social Security vs Nest Egg Trade-off
Replies: 16
Views: 1652

Re: Social Security vs Nest Egg Trade-off

If you only want to look at maximizing your SS benefits you can utilize the bedrockcapital calculator.... http://www.bedrockcapital.com/ssanalyze/ What I learned is that looking at SS by itself is not a great stategy unless your situation and financials are vety simple. We have foudn it miuch bette...
by smitcat
Wed Feb 21, 2018 9:02 am
Forum: Personal Finance (Not Investing)
Topic: Understanding 2017 ACA Insurance >> Alternative to ACA until age 65 >>Possible Solutions??
Replies: 115
Views: 8042

Re: Need Help Understanding 2017 ACA Insurance Bill for $28,690 and tax liabilities? Confused? Help?

Please spend some time figuring your specific situation as it refers to MAGI.... Calculating MAGI Gross income (GI) is calculated first when calculating MAGI. Gross income is an individual's total income earned through wages, interests, dividends, rental and royalty income, capital gains, business i...
by smitcat
Wed Feb 21, 2018 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Social Security vs Nest Egg Trade-off
Replies: 16
Views: 1652

Re: Social Security vs Nest Egg Trade-off

wolf/ox- Thanks for your posts. Yes I am 15-20 years from SS claiming (unless I decide to take at 62, very doubtful) and spouse will not hit 40 credits or if spouse does it will not exceed 50% of mine. Claiming at 70/68 and not 69/67 adds the additional $2880/year base amount for the surviving spou...
by smitcat
Tue Feb 20, 2018 8:32 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security vs Nest Egg Trade-off
Replies: 16
Views: 1652

Re: Social Security vs Nest Egg Trade-off

If you only want to look at maximizing your SS benefits you can utilize the bedrockcapital calculator.... http://www.bedrockcapital.com/ssanalyze/ What I learned is that looking at SS by itself is not a great stategy unless your situation and financials are vety simple. We have foudn it miuch better...
by smitcat
Tue Feb 20, 2018 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security vs Nest Egg Trade-off
Replies: 16
Views: 1652

Re: Social Security vs Nest Egg Trade-off

wolf/ox- Thanks for your posts. Yes I am 15-20 years from SS claiming (unless I decide to take at 62, very doubtful) and spouse will not hit 40 credits or if spouse does it will not exceed 50% of mine. Claiming at 70/68 and not 69/67 adds the additional $2880/year base amount for the surviving spou...
by smitcat
Tue Feb 20, 2018 10:14 am
Forum: Investing - Theory, News & General
Topic: How many of you use the "4% rule" during retirement?
Replies: 68
Views: 8824

Re: How many of you use the "4% rule" during retirement?

itstoomuch wrote:
Mon Feb 19, 2018 2:02 pm
Is anything really "safe"?
The best I can determine is to be flexible, diversify, and look at everything.
YMMV
"Is anything really "safe"?"
This I agree with 100%.

"I kinda divorced our assets away from any SWR."
This I do not agree with and I believe could be misleading to readers.
by smitcat
Mon Feb 19, 2018 1:23 pm
Forum: Investing - Theory, News & General
Topic: How many of you use the "4% rule" during retirement?
Replies: 68
Views: 8824

Re: How many of you use the "4% rule" during retirement?

I'm with David Jay. I'm not sure what that means, I don't think I wrote of my preference in this thread. I prefer a fixed percentage (5%?) of remaining portfolio (from Merriman's research). Easy. No inflation calculations (CPI-U? CPI-W?). If there is cognitive decline I can ask my daughter to multi...
by smitcat
Sun Feb 18, 2018 6:29 pm
Forum: Personal Consumer Issues
Topic: Do you wear a wedding band? [at a job interview]
Replies: 157
Views: 9868

Re: Do you wear a wedding band?

I have not worn mine the past 30+ years.
by smitcat
Fri Feb 16, 2018 5:08 pm
Forum: Investing - Theory, News & General
Topic: GLWB annuities
Replies: 6
Views: 758

GLWB annuities

Is it really best to take income from a GLWB annuity as soon as possible (eligible)?
This article says that it is just curious if everyone agrees....

https://www.kitces.com/blog/why-it-rare ... ase-study/
by smitcat
Thu Feb 15, 2018 12:49 pm
Forum: Personal Finance (Not Investing)
Topic: Rant about relocation mortgage assistance, and a question
Replies: 54
Views: 3225

Re: Rant about relocation mortgage assistance, and a question

Wow. I am kinda surprised you are moving. From your previous posts I thought you were at your current spot for the long count. I guess the new job must be fantastic for your wife and a good challenge. Regarding the home. I do not think you should buy a big expensive home at this new location. Yes I...
by smitcat
Wed Feb 14, 2018 1:31 pm
Forum: Investing - Theory, News & General
Topic: annuity vs. decumulation: apples to apples comparisons?
Replies: 26
Views: 2089

Re: annuity vs. decumulation: apples to apples comparisons?

I answered my own question. I went to immediateannuities.com and for a 65 year old male with a 60 year old spouse and a CPI cola rider the payout is 3.2% for a payment that extends to the longest surviving spouse. And, without the spouse payout is 4.38%. So I guess that does kind of answer my origi...
by smitcat
Wed Feb 14, 2018 7:57 am
Forum: Investing - Theory, News & General
Topic: annuity vs. decumulation: apples to apples comparisons?
Replies: 26
Views: 2089

Re: annuity vs. decumulation: apples to apples comparisons?

I answered my own question. I went to immediateannuities.com and for a 65 year old male with a 60 year old spouse and a CPI cola rider the payout is 3.2% for a payment that extends to the longest surviving spouse. And, without the spouse payout is 4.38%. So I guess that does kind of answer my origi...
by smitcat
Tue Feb 13, 2018 6:17 pm
Forum: Personal Finance (Not Investing)
Topic: Should I claim chapter 7 bankruptcy? debt 110k
Replies: 64
Views: 6847

Re: Should I claim chapter 7 bankruptcy? debt 110k

If you read the past posts of "Stock investor' it becomes clear that this is not the first risky trade he has made.
A list or risky trades, no earned income for years and hints about payments for unknown reasons does not a pretty picture paint.
by smitcat
Tue Feb 13, 2018 3:47 pm
Forum: Investing - Help with Personal Investments
Topic: Help me NOT pay for a financial planner!
Replies: 15
Views: 1887

Re: Help me NOT pay for a financial planner!

My spouse has set up a meeting (no cost for the initial meeting) with a financial (really retirement) planner. I don’t think we need it (I have Bogleheads!) Here are the particulars of our situation that we plan to discuss: Ages Me: 47 later this year Spouse: 49 Children: Ages 14 and 11 Desired age...
by smitcat
Tue Feb 13, 2018 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Disney visit
Replies: 28
Views: 3629

Re: Disney visit

We have done both. Staying onsite was well worth the premium price. We chose a moderately priced Disney hotel and would do it again over staying offsite. We did not purchase the dining plan. It was the right choice since we found ourselves splitting many meals, especially quick service. We saved mo...
by smitcat
Mon Feb 12, 2018 1:00 pm
Forum: Investing - Help with Personal Investments
Topic: Help me NOT pay for a financial planner!
Replies: 15
Views: 1887

Re: Help me NOT pay for a financial planner!

My spouse has set up a meeting (no cost for the initial meeting) with a financial (really retirement) planner. I don’t think we need it (I have Bogleheads!) Here are the particulars of our situation that we plan to discuss: Ages Me: 47 later this year Spouse: 49 Children: Ages 14 and 11 Desired age...
by smitcat
Sat Feb 10, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by smitcat
Fri Feb 09, 2018 2:33 pm
Forum: Investing - Help with Personal Investments
Topic: 4% rule and early retirement?
Replies: 69
Views: 8878

Re: 4% rule and early retirement?

If not looking at the past, on what do you base your 3-3.5% ? Yep, that's the question and you might not like my answer, but here goes. I'm triangulating into it, looking at the future like this: 1. I believe my grandparents, parents and I have lived during a Golden Age in America. Sure, we had war...
by smitcat
Fri Feb 09, 2018 10:14 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by smitcat
Fri Feb 09, 2018 8:12 am
Forum: Personal Finance (Not Investing)
Topic: Worried about employer not paying all I am owed
Replies: 29
Views: 2613

Re: Worried about employer not paying all I am owed

Thanks for the additional thoughts! The community is bringing up many things I hadn't considered. I know that medical insurance premiums have been paid because I successfully fill prescriptions every month using insurance benefits. My paycheck stub indicates that federal income taxes have been with...
by smitcat
Thu Feb 08, 2018 5:11 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

While spending is more theoretically accurate it is harder to define than salary. Does it include taxes, which is should but to your point will likely go down etc. I’m not sure everybody knows what their spending number is. As much as I track finances investments etc I did not have a highly accurat...
by smitcat
Thu Feb 08, 2018 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

Ok sorry I misunderstood. I will say that a dual income couple will probably spend more than a single income couple as a function of habit and standard of living. I know we spend a lot more than many on here partly because we have 2 incomes and we can. Just turning that spending off is a lot harder...
by smitcat
Thu Feb 08, 2018 3:56 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

I think where the chart breaks down is at higher income levels, and in particular, dual income households. Dual income households do not need more money in retirement than single income households, y et, according to the chart, they need to have way more saved up. I would say this is only half true...
by smitcat
Thu Feb 08, 2018 3:49 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

I would say this is only half true at best. While housing may be scalable, food to some degree, Medical expenses are not scalable. Most likely you will want 2 cars vs one. Day to day discretionary mostly increases proportionately. JBTX, I'm sorry if I wasn't clear. I'm not talking one person versus...
by smitcat
Thu Feb 08, 2018 2:07 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

I think where the chart breaks down is at higher income levels, and in particular, dual income households. Dual income households do not need more money in retirement than single income households, y et, according to the chart, they need to have way more saved up. I would say this is only half true...
by smitcat
Thu Feb 08, 2018 1:56 pm
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 79
Views: 4471

Re: Who has had a pool?

People that are saying under $200 a year in chemical costs are delusional, or have kiddie pools. Or we just understand how to maintain a pool? Or you have greatly different sized pools in different areas of the country made or differing materials. One size does not fit all with these answers.
by smitcat
Thu Feb 08, 2018 11:47 am
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 79
Views: 4471

Re: Who has had a pool?

We just moved in to our new house with an unground pool. It was a little overwhelming at first because I had never owned one but gotten more comfortable and knowledgeable in terms of daily/weekly maintenances. Trouble free pool.com or TFP is a great resource. I ended up using the bleach instead of ...
by smitcat
Thu Feb 08, 2018 10:15 am
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

While I am sure using multiples of salaries works for many folks I find it pretty far off. Using multiples of expenses is a valued best metric for us anyway. Not in disagreement with you on that. The multiples of expenses eventually provides the clearest view. The road map version, or path along th...
by smitcat
Thu Feb 08, 2018 8:55 am
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 79
Views: 4471

Re: Who has had a pool?

We have an inground pool with heater decks etc - came with the house. It was used often for about 3 years when our daughter was young but before she started many other 'activities'. Since then the pool gets used maybe 2-3 time a year and for a short period of time when it does get used. All in all i...
by smitcat
Wed Feb 07, 2018 12:47 pm
Forum: Investing - Theory, News & General
Topic: Why should we care about inflation?
Replies: 58
Views: 5255

Re: Why should we care about inflation?

"my response is... who cares?"
Some do more than others....
- inflation does not always yield raises that are commensurate
- Inflation removes much value from many pensions
- inflation erodes most annuities
by smitcat
Wed Feb 07, 2018 12:41 pm
Forum: Personal Finance (Not Investing)
Topic: Am I saving too much for retirement?
Replies: 105
Views: 13026

Re: Am I saving too much for retirment?

https://farm5.staticflickr.com/4734/39408665641_95e7a57516_o.jpg https://www.fidelity.com/viewpoints/retirement/how-much-money-do-i-need-to-retire Maybe you can answer this because I can't get a clear answer to this for a while now. When they say salary, does that mean my starting salary at the beg...
by smitcat
Wed Feb 07, 2018 8:22 am
Forum: Investing - Help with Personal Investments
Topic: variable annuity or CDs in parents IRA
Replies: 16
Views: 849

Re: variable annuity or CDs in parents IRA

"All compare favorably to a 3.5-4% SWR in a S/B 60/40" Typically the SWR of 3.5-4% is speaking about a rate which is adjusted each year for inflation. The annuities noted here are not inflation adjusted. tis true. OP's parents have Income in excess of their requirements. CD's won't keep up with inf...