Search found 350 matches

by Pdxnative
Sat Apr 10, 2021 11:25 pm
Forum: Personal Consumer Issues
Topic: Which Credit Card to Get for Travel to Hawaii (looking for a bonus offer)
Replies: 19
Views: 1685

Re: Which Credit Card to Get for Travel to Hawaii (looking for a bonus offer)

I’m not clear if you still have the chase sapphire reserve. If not, and you haven’t received a sapphire bonus in the last 4 years, your wife could refer you for the chase sapphire preferred. I think she’d get 15k for the referral and the current bonus is 80k and a $50 grocery credit I believe. But ...
by Pdxnative
Sat Apr 10, 2021 9:32 pm
Forum: Personal Consumer Issues
Topic: Which Credit Card to Get for Travel to Hawaii (looking for a bonus offer)
Replies: 19
Views: 1685

Re: Which Credit Card to Get for Travel to Hawaii (looking for a bonus offer)

I’m not clear if you still have the chase sapphire reserve. If not, and you haven’t received a sapphire bonus in the last 4 years, your wife could refer you for the chase sapphire preferred. I think she’d get 15k for the referral and the current bonus is 80k and a $50 grocery credit I believe. But I...
by Pdxnative
Fri Apr 09, 2021 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: Anyways to improve financial aid?
Replies: 70
Views: 3659

Re: Anyways to improve financial aid?

There are a few dozen schools where an AGI like the OP’s would garner very good need-based aid. The aid would be in the form of grants, not loans. The catch is that they are all highly selective. MIT, Princeton, etc. So it’s worth avoiding doing stupid things that could compromise aid—Roth conversio...
by Pdxnative
Fri Apr 09, 2021 12:01 pm
Forum: Personal Investments
Topic: Help deciding ratio of college vs. retirement savings
Replies: 9
Views: 721

Re: Help deciding ratio of college vs. retirement savings

Sure, routing more toward retirement might be financially optimal long term. But ultimately you will need some money for college. It sounds like you’re doing great with retirement saving already. So if that’s on track and can be maintained, I’d shift focus to funding college. Most people pay for col...
by Pdxnative
Sun Apr 04, 2021 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Grandparents superfund 529 with grandchild beneficiary son owner?
Replies: 18
Views: 1376

Re: Grandparents superfund 529 with grandchild beneficiary son owner?

I believe grandparent-owned 529s that list the student as beneficiary are still listed on the CSS Profile, which is the form most of the uber-generous schools use to determine need. Not the last time I completed Profile (several years ago now). It's entirely conceivable that a grandparent could ope...
by Pdxnative
Sun Apr 04, 2021 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Grandparents superfund 529 with grandchild beneficiary son owner?
Replies: 18
Views: 1376

Re: Grandparents superfund 529 with grandchild beneficiary son owner?

Don't forget your parents each count, so they have $30k to play with per recipient. That's where the $150k number comes from,superfunded or otherwise. I think it's just the way you phrased it, but your DS as a recipient has nothing to report, file, or pay. It's all on the giver. It kind of sounded ...
by Pdxnative
Sun Apr 04, 2021 4:55 pm
Forum: Personal Finance (Not Investing)
Topic: Grandparents superfund 529 with grandchild beneficiary son owner?
Replies: 18
Views: 1376

Re: Grandparents superfund 529 with grandchild beneficiary son owner?

I believe grandparent-owned 529s that list the student as beneficiary are still listed on the CSS Profile, which is the form most of the uber-generous schools use to determine need. Some use their own forms but will request that information. Unlikely that these institutions stop requesting that info...
by Pdxnative
Mon Mar 29, 2021 11:59 am
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12779

Re: Shopping for college

Yes, while there are truly competitive merit-based scholarships out there—Robertson at Duke, Stamps at Oregon, etc.—I think Texasdiver is correct to point to a lot of the institutional “merit” aid at mid tier schools being used to manage ranking, yield, and other institutional priorities. Most of th...
by Pdxnative
Sat Mar 13, 2021 1:50 pm
Forum: Personal Finance (Not Investing)
Topic: Estimated taxes for S-Corp Owner
Replies: 6
Views: 444

Re: Estimated taxes for S-Corp Owner

We aim for the safe harbor amount in withholding each year and pay the rest when we file personal taxes.
by Pdxnative
Wed Mar 10, 2021 2:38 pm
Forum: Personal Finance (Not Investing)
Topic: Listing Realtor asking me to have mortgage lenders call her directly.
Replies: 85
Views: 6506

Re: Listing Realtor asking me to have mortgage lenders call her directly.

I don’t think it’s that fishy that sellers would want to do some due diligence on your ability to finance and close in a timely manner. It’s also not that surprising that they or the agent would feel more comfortable with a person—whether a broker of local lender rep. While I’ve used these direct le...
by Pdxnative
Thu Mar 04, 2021 6:36 pm
Forum: Personal Consumer Issues
Topic: Undergrad College Options 33k or 15k
Replies: 45
Views: 2724

Re: Undergrad College Options 33k or 15k

That you are already so convinced that she will pursue this one, fairly narrow field suggests that she has had some sort of personal or academic experience in this area. Perhaps a neighbor is in the field, or she took a class? If so, she should be talking to those people who know the field, and her,...
by Pdxnative
Tue Mar 02, 2021 5:12 pm
Forum: Personal Consumer Issues
Topic: Undergrad College Options 33k or 15k
Replies: 45
Views: 2724

Re: Undergrad College Options 33k or 15k

For starters, I would not compare tuition as if it represents your likely cost. It might, and yes generally it’ll be hard to beat your in-state flagship with an out of state flagship. But many public and private schools use merit scholarships to attract students. So I’d throw that in the mix also. C...
by Pdxnative
Fri Feb 26, 2021 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Looking For A "Rule Of Thumb" For How Much College Can I Afford
Replies: 45
Views: 2532

Re: Looking For A "Rule Of Thumb" For How Much College Can I Afford

I am not paying for my kids' college education until my portfolio is at least 1 million. As to how much that I am willing to pay, I am only paying for in-state public university education. I do not consider the parents to be fiscally responsible to pay for a college education and then count on thei...
by Pdxnative
Fri Feb 26, 2021 5:10 pm
Forum: Personal Finance (Not Investing)
Topic: Looking For A "Rule Of Thumb" For How Much College Can I Afford
Replies: 45
Views: 2532

Re: Looking For A "Rule Of Thumb" For How Much College Can I Afford

I don’t think there are any great rules of thumb for this. Most folks I know budget for the state flagship and then adjust based on circumstances. Probably the closest thing you’ll get to a rule of thumb based on your individual circumstance is to look at what colleges themselves think. Run the net ...
by Pdxnative
Fri Feb 26, 2021 1:42 pm
Forum: Personal Finance (Not Investing)
Topic: Chase sapphire reserve $300 credit - post time?
Replies: 11
Views: 806

Re: Chase sapphire reserve $300 credit - post time?

Yes, the credit posts at the same time as the charge. Before you cxl, you might want to call and ask if there are any retention offers for you. I was in a similar situation several months ago. Can’t remember the details but they gave me a statement credit that, along with the travel credit (which I ...
by Pdxnative
Thu Feb 25, 2021 5:20 pm
Forum: Personal Finance (Not Investing)
Topic: PPP forgiveness for S Corp owner's salary
Replies: 26
Views: 1522

Re: PPP forgiveness for S Corp owner's salary

I don’t think timing of compensation matters much but you might check out the most recent forgiveness forms. There might be one way that is more convenient for you to document, but especially in the case of the ez form it doesn’t seem to matter much for forgiveness. https://www.sba.gov/funding-progr...
by Pdxnative
Thu Feb 18, 2021 11:21 pm
Forum: Personal Consumer Issues
Topic: Credit Score / Credit Cards - College Freshman
Replies: 16
Views: 950

Re: Credit Score / Credit Cards - College Freshman

We added our kids as authorized users on our cards when they were in HS. This was for our convenience as much as for theirs. But it also helps them with their credit because they basically just get your credit score as I understand it. Then in college when they had incomes they applied for a student...
by Pdxnative
Wed Feb 17, 2021 8:17 pm
Forum: Investing - Theory, News & General
Topic: “New Bitcoin Investors Explain Why They’re Buying at Record Prices“
Replies: 943
Views: 60725

Re: “New Bitcoin Investors Explain Why They’re Buying at Record Prices“

Provided you have a 4 year time horizon, this thing is unbeatable. I honestly don't see how anyone can justify having zero exposure to it. Because nothing you said is guaranteed. You cannot say bitcoin is a sure thing over a 4 year time horizon. I think we may just have different investing philosop...
by Pdxnative
Fri Feb 05, 2021 3:57 pm
Forum: Investing - Theory, News & General
Topic: “New Bitcoin Investors Explain Why They’re Buying at Record Prices“
Replies: 943
Views: 60725

Re: “New Bitcoin Investors Explain Why They’re Buying at Record Prices“

I appreciate all the perspectives on this. A couple questions to try to better understand: 1- I’ve noticed one of the arguments used to win over skeptics is that crypto will become mainstream, then examples listed of companies or institutions who are already working in this space. If that’s the case...
by Pdxnative
Thu Feb 04, 2021 1:10 am
Forum: Personal Investments
Topic: Change investments in 529?
Replies: 8
Views: 529

Re: Change investments in 529?

If you want all equity I’d move all the current funds and future contributions to the aggressive growth portfolio. Personally though, I’d just choose the aggressive age based portfolio for everything. No one knows what will be best over the next 10 years, but going with total market, some internatio...
by Pdxnative
Tue Feb 02, 2021 5:52 pm
Forum: Personal Finance (Not Investing)
Topic: 529 tax recapture question
Replies: 2
Views: 219

Re: 529 tax recapture question

Doubtful they’d recapture for this but you could call and ask. But if kid x is pretty young, or even in HS, I doubt you have a very good sense of whether “free college”, by which I assume you mean merit money, is likely. A lot of truly “super smart” kids end up wanting to go to highly selective scho...
by Pdxnative
Sat Jan 30, 2021 1:02 am
Forum: Personal Consumer Issues
Topic: Careers - Flagship State vs Top Tier Private
Replies: 162
Views: 8307

Re: Careers - Flagship State vs Top Tier Private

You’re fortunate to have a good state flagship. Saving for that seems like a reasonable plan. I don’t know that HYPSM or comparable are the likeliest alternative, given how selective those schools are. You’ll have a better sense toward the end of middle school if those types of schools would even be...
by Pdxnative
Tue Jan 26, 2021 11:03 pm
Forum: Personal Finance (Not Investing)
Topic: 2nd draw PPP loan - Already received 1st draw
Replies: 5
Views: 394

Re: 2nd draw PPP loan - Already received 1st draw

Isn’t this supposed to be income replacement? Obviously the loan isn’t necessary to keep the ‘business’ running. I’m a 1099. Can anyone clarify this? It’s the same language they used for round one of PPP. Not the most artful language for independent contractor, but more an indication that this grou...
by Pdxnative
Mon Jan 25, 2021 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: HELP COLLEGE AID and lowering AGI
Replies: 7
Views: 785

Re: HELP COLLEGE AID and lowering AGI

I learned a year too late that the Roth conversion I did this year hurt my kids chances of getting financial aid for college (we fill out the FAFSA forms this October so 2020 was the year!). I am wondering if there is anything I can do between now and tax time to decrease my AGI for 2020. I can pro...
by Pdxnative
Sun Jan 24, 2021 12:47 pm
Forum: Personal Investments
Topic: 529 Savings query - how much more to save
Replies: 10
Views: 1173

Re: 529 Savings query - how much more to save

If the goal is to have four years at state u. covered by 529, I think you’re pretty much done. You can reassess each year and top off each account to cover then-current costs. People tend to significantly overestimate future college costs. There was a drastic shift in state funding around 2008-2010 ...
by Pdxnative
Fri Jan 22, 2021 7:23 pm
Forum: Personal Finance (Not Investing)
Topic: PPP second draw - slow application?
Replies: 41
Views: 3997

Re: PPP second draw - slow application?

We’ve also been waiting four days after completing the app for second round with our local bank. Our bank has been great and fast on everything since last spring, so I’m assuming things are just slow. I’m less concerned this time because I think most folks *think* they won’t run out of PPP2 funds qu...
by Pdxnative
Fri Jan 22, 2021 12:21 am
Forum: Personal Finance (Not Investing)
Topic: Scorp owners taking distributions-basis required
Replies: 28
Views: 1552

Re: Scorp owners taking distributions-basis required

Okay, I’m one of those S Corp owners who never saw this instruction, so I did have a distribution in a year in which I didn’t report my basis... Is there any practical consequence to this, assuming I didn’t distribute more than my basis in any given year (I didn’t)? Not sure if this is worth filing ...
by Pdxnative
Tue Jan 19, 2021 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: PPP 2 (and 1) applications open at Chase
Replies: 7
Views: 629

Re: PPP 2 (and 1) applications open at Chase

SBA issued some additional guidance/faq on round 2 today. Nothing too different from what existed before but might clarify some areas for those who have questions. https://www.sba.gov/sites/default/files/2021-01/Second%20Draw%20PPP%20Loans%20--%20How%20to%20Calculate%20Revenue%20Reduction%20and%20Ma...
by Pdxnative
Thu Dec 31, 2020 2:01 pm
Forum: Investing - Theory, News & General
Topic: The Case Against 529's
Replies: 219
Views: 12526

Re: The Case Against 529's

I have no budgetting for my kids expenses. My money is going to grow astronomically over 30+ years because I am 100% stocks. At retirement, I will probably go 50-50 or 60-40 stocks to bonds. I will pay for my kids expenses when they go to college through my own salary. Lets say I didnt have a high ...
by Pdxnative
Sun Dec 27, 2020 7:48 pm
Forum: Personal Consumer Issues
Topic: College comparisons (and cost estimates) for life sciences
Replies: 51
Views: 2375

Re: College comparisons (and cost estimates) for life sciences

Whitman is well known throughout the country, especially by grad schools. I wouldn’t worry about that at all. I agree with her top picks but I think the issue is does she really want a small school, and one in a small but nice town well removed from urban life? I think she needs to dig in on that qu...
by Pdxnative
Wed Dec 23, 2020 2:58 pm
Forum: Personal Finance (Not Investing)
Topic: College savings for older parents
Replies: 17
Views: 1188

Re: College savings for older parents

You might find it helpful to fill out the net price calculators at a few schools. This will give you a sense of the variables involved, and you can play around with the amounts to see effects. Princeton is probably the most generous with need-based aid these days and has a simple NPC. There are mayb...
by Pdxnative
Sun Dec 20, 2020 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: Income tax, self employment tax, FAFSA and late filing
Replies: 14
Views: 574

Re: Income tax, self employment tax, FAFSA and late filing

I’m confused—do you mean they did NOT file in 2019? If they aren’t required to file taxes, I believe they’d qualify for the simplified needs test on the FAFSA. So I’m not clear why the FA counselor would be saying they need to file taxes. If they are required to file but did not, that’s a different...
by Pdxnative
Sun Dec 20, 2020 3:09 pm
Forum: Personal Finance (Not Investing)
Topic: Income tax, self employment tax, FAFSA and late filing
Replies: 14
Views: 574

Re: Income tax, self employment tax, FAFSA and late filing

I’m confused—do you mean they did NOT file in 2019? If they aren’t required to file taxes, I believe they’d qualify for the simplified needs test on the FAFSA. So I’m not clear why the FA counselor would be saying they need to file taxes. If they are required to file but did not, that’s a different ...
by Pdxnative
Wed Dec 16, 2020 1:06 pm
Forum: Personal Finance (Not Investing)
Topic: Why submit a FAFSA?
Replies: 145
Views: 8316

Re: Why submit a FAFSA?

Many/most of the schools providing significant need-based aid do not use the federal methodology to determine *institutional* aid. They use an institutional methodology instead, and the formula does vary by school. FAFSA and the federal methodology are still used to determine eligibility for *feder...
by Pdxnative
Wed Dec 16, 2020 12:47 pm
Forum: Personal Finance (Not Investing)
Topic: Why submit a FAFSA?
Replies: 145
Views: 8316

Re: Why submit a FAFSA?

Many/most of the schools providing significant need-based aid do not use the federal methodology to determine *institutional* aid. They use an institutional methodology instead, and the formula does vary by school. FAFSA and the federal methodology are still used to determine eligibility for *feder...
by Pdxnative
Wed Dec 16, 2020 12:16 pm
Forum: Personal Finance (Not Investing)
Topic: Why submit a FAFSA?
Replies: 145
Views: 8316

Re: Why submit a FAFSA?

4 - Since she got need based aid, we spent alot of time looking at the formula the school uses to calculate aid. Basically, this particular school determines need based aid based on taxable assets. They don't consider retirement accounts or home equity as assets for aid. We re-arranged our finances...
by Pdxnative
Wed Dec 16, 2020 11:49 am
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12779

Re: Shopping for college

I heard Oregon State was joining WUE in fall of 21. Not sure of restrictions on majors. Decent school. Pretty low cost of living in that area. Might be worth a look for some students. WUE is great if the school allows that major to be eligible to WUE. Not sure what's the point of WUE when most of t...
by Pdxnative
Tue Dec 15, 2020 7:49 pm
Forum: Personal Consumer Issues
Topic: Shopping for college
Replies: 164
Views: 12779

Re: Shopping for college

I heard Oregon State was joining WUE in fall of 21. Not sure of restrictions on majors. Decent school. Pretty low cost of living in that area. Might be worth a look for some students.
by Pdxnative
Tue Dec 15, 2020 4:50 pm
Forum: Personal Finance (Not Investing)
Topic: Conversion to Roth IRA and college financial aid
Replies: 7
Views: 457

Re: Conversion to Roth IRA and college financial aid

I am hoping to do several batches of conversion to Roth IRA in the next few years. I need to figure how to time the conversions. I understand that it could negatively impact my kid when he applies for college financial aid, if my AGI is higher due to the IRA conversion. I read on the web that some ...
by Pdxnative
Sun Dec 13, 2020 2:53 pm
Forum: Investing - Theory, News & General
Topic: College finance qs: Bogleheads or College Confidential?
Replies: 25
Views: 1300

Re: College finance qs: Bogleheads or College Confidential?

I’d use the college search and selection sub forum on cc. You can get some useful info on colleges offering substantial merit aid. Be aware that, with a few exceptions, most meaningful merit scholarships are coming from the institutions themselves. The idea that a kid can fund college with scholars...
by Pdxnative
Sun Dec 13, 2020 1:57 pm
Forum: Investing - Theory, News & General
Topic: College finance qs: Bogleheads or College Confidential?
Replies: 25
Views: 1300

Re: College finance qs: Bogleheads or College Confidential?

I’d use the college search and selection sub forum on cc. You can get some useful info on colleges offering substantial merit aid. Be aware that, with a few exceptions, most meaningful merit scholarships are coming from the institutions themselves. The idea that a kid can fund college with scholarsh...
by Pdxnative
Sun Dec 13, 2020 1:23 pm
Forum: Personal Investments
Topic: 529 or not?
Replies: 29
Views: 2338

Re: 529 or not?

OP, 1) You should not contribute to 529. 2) You should not contribute to Roth 401K. You should contribute to Trad. 401K instead. 3) You should max up your Roth IRAs (you and your spouse) and HSA with your tax savings from Trad 401K. KlangFool I rarely agree with KlangFool when it comes to the use o...
by Pdxnative
Sat Dec 12, 2020 6:13 pm
Forum: Personal Investments
Topic: 529 or not?
Replies: 29
Views: 2338

Re: 529 or not?

The state tax credit is available at all income levels but there’s a progressive structure to the way the credit is applied: https://www.oregoncollegesavings.com/faqs/category/Taxes I’d transfer from the MFS to the self directed OCSP if that’s possible. The investment options there are pretty good a...
by Pdxnative
Thu Dec 10, 2020 6:22 pm
Forum: Personal Finance (Not Investing)
Topic: Pay off 0.9% car loan early?
Replies: 24
Views: 1466

Re: Pay off 0.9% car loan early?

There’s nothing wrong with factoring in the emotional return of paying off a loan (for me that would be zero; but everyone is different). One other thing to consider as an alternative would be to front load the 529. Depending what your target is, and expected growth, this might allow you to disconti...
by Pdxnative
Wed Dec 09, 2020 1:36 pm
Forum: Personal Finance (Not Investing)
Topic: PPP forgiveness: apply now or wait?
Replies: 36
Views: 2240

Re: PPP forgiveness: apply now or wait?

I’m not sure what you mean by suboptimal documentation but I don’t think the supporting documents are reviewed by anyone for loans <50k. You state the amount eligible for forgiveness on the form. We filled out the info on our bank’s portal to prefill the 3508s. There were a few docs to upload. It w...
by Pdxnative
Wed Dec 09, 2020 12:06 am
Forum: Personal Finance (Not Investing)
Topic: PPP forgiveness: apply now or wait?
Replies: 36
Views: 2240

Re: PPP forgiveness: apply now or wait?

I’m not sure what you mean by suboptimal documentation but I don’t think the supporting documents are reviewed by anyone for loans <50k. You state the amount eligible for forgiveness on the form. We filled out the info on our bank’s portal to prefill the 3508s. There were a few docs to upload. It wa...
by Pdxnative
Sun Dec 06, 2020 4:22 pm
Forum: Personal Investments
Topic: Recommendations for talking with recent college graduates
Replies: 22
Views: 1787

Re: Recommendations for talking with recent college graduates

I’m with those saying that unsolicited advice in this area probably isn’t a great idea. Probably the biggest impact you could have is to convince your company to automatically opt employees in to the retirement plan, requiring them to act in order to opt out (rather than the default being that they ...
by Pdxnative
Sat Dec 05, 2020 1:35 am
Forum: Personal Finance (Not Investing)
Topic: 529 account - is there a better way?
Replies: 175
Views: 8510

Re: 529 account - is there a better way?

My son is applying to colleges now and I’ve never heard of Skidmore. If the employer has never heard of the school, the acceptance rate doesn’t matter. I don’t have any opinion of Skidmore, I’m sure it’s a great school with great students, the point I’m making is that schools you’ve never heard of ...
by Pdxnative
Sat Dec 05, 2020 12:56 am
Forum: Personal Finance (Not Investing)
Topic: 529 account - is there a better way?
Replies: 175
Views: 8510

Re: 529 account - is there a better way?

I think this characterization of Skidmore is a little harsh. They had a 27% acceptance rate last year and if you look at the College Confidential 2024 thread, students with 99% SAT scores report being rejected or waitlisted. The Naviance at my kid’s high school shows the same thing. I didn’t go to ...
by Pdxnative
Sat Nov 28, 2020 6:21 pm
Forum: Personal Investments
Topic: EE Bonds for high income couple in their 30's
Replies: 47
Views: 3731

Re: EE Bonds for high income couple in their 30's

I thought the rate on EE bonds is around .1%. Am I missing something? If you hold a full 20 years they double giving you an effective return of 3.53% tax deferred and state tax free. Given current interest rates for ultra safe fixed income, the 0.1% current rate is not much of a lost opportunity co...