Search found 827 matches

by onthecusp
Tue Nov 01, 2022 8:37 pm
Forum: Personal Finance (Not Investing)
Topic: TurboTax Live vs "Full Service" vs external CPA
Replies: 5
Views: 1718

Re: TurboTax Live vs "Full Service" vs external CPA

I recently completed my 2021 taxes using TurboTax Online with the Live on demand advice. I was under the gun for finishing up my somewhat complicated taxes which included two self employed (wife and I) and some K-1 investments that were sold out with problems with the basis reported by the broker vs. the K-1. A little background on my own tolerance for tax complications. For many years I was comfortable doing my own taxes on paper forms, doing rental and small business related forms, depreciation, etc. nothing too complicated but more than 1040X returns. It was not easy for me but I wanted to slog through it so I understood what was happening. The AMT, alternative minimum tax, started to change that as it seemed to introduce a whole slew of...
by onthecusp
Thu Jun 16, 2022 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Official HELOC (Home Equity Line of Credit) thread
Replies: 180
Views: 29295

Re: Official HELOC (Home Equity Line of Credit) thread

I'm in a similar position to others here. I'm looking for a bridge loan to buy our retirement house with a cash offer, and make some improvements to the new house, before selling our current house. I am looking for $480,000 and have about $600,000 in equity. Third Federal does not service my area in Texas, just south of Houston in Harris county. The remaining small balance mortgage is with Wells Fargo, their site says HELOCs are not available at this time. Our checking account is with Chase and they appear to do HELOC. Is being restricted from using a HELOC as a bridge loan common? Any alternatives / recommendations? Alternative types of loan or other providers in the area? I expect to need the loan for a few months. In an update, Chase als...
by onthecusp
Wed Jun 02, 2021 10:13 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone actually moved from megacorp role to part-time?
Replies: 30
Views: 3948

Re: Anyone actually moved from megacorp role to part-time?

I did this last year. My part time is through a consulting company so the tie with ole mega was severed. Exactly the same kind of work though I am exploring some alternatives. I didn't burn any bridges but it was pretty sudden from their standpoint; who knows what the future may bring in regard to doing work for them again. I feel I'm ready for retirement financially but wanted a year or two of some income to pay for relocation, better retirement home etc. Get two years closer to social security. Between Covid (which was already well underway when I pulled the plug) and end of the year there have been many fewer available hours / projects for me to work on than I expected. But it is working out fine. Stress levels are way down, getting som...
by onthecusp
Tue Jun 01, 2021 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone actually moved from megacorp role to part-time?
Replies: 30
Views: 3948

Re: Anyone actually moved from megacorp role to part-time?

I did this last year. My part time is through a consulting company so the tie with ole mega was severed. Exactly the same kind of work though I am exploring some alternatives. I didn't burn any bridges but it was pretty sudden from their standpoint; who knows what the future may bring in regard to doing work for them again. I feel I'm ready for retirement financially but wanted a year or two of some income to pay for relocation, better retirement home etc. Get two years closer to social security. Between Covid (which was already well underway when I pulled the plug) and end of the year there have been many fewer available hours / projects for me to work on than I expected. But it is working out fine. Stress levels are way down, getting some...
by onthecusp
Sat May 29, 2021 11:32 pm
Forum: Personal Finance (Not Investing)
Topic: skip Medicare B and D?
Replies: 38
Views: 5399

Re: skip Medicare B and D?

Thanks GerryL and DetroitRick. I can see why most people pull up short of the deep dive into the formulary. I might do it for the two or three cheapest "total cost" plans based on known Rx just to get a feel for it.

To some extent it is fine if I get hit once or twice with an odd big bill if I'm saving month to month on the premium. Just how insurance works.
by onthecusp
Sat May 29, 2021 4:15 pm
Forum: Personal Finance (Not Investing)
Topic: skip Medicare B and D?
Replies: 38
Views: 5399

Re: skip Medicare B and D?

Yes I've done that process. It seems pretty straight forward to me until I started pondering the value of coverage for occasional prescriptions. Antibiotics, vaccinations, pain meds, etc. I don't know what will be prescribed. As a family we've had the odd procedures over the years with some very expensive drugs for a few weeks. I realize that the difference between $10/month plan and $900/month plan will pay for a lot of occasional prescriptions, but I was wondering if there was any way to have a clue as to which plans might be more generous other than "you get what you pay for." If it is not enough to justify the effort of comparison, I'll just go with the cheapest given the known prescriptions, but if paying 10% more a month giv...
by onthecusp
Sat May 29, 2021 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: skip Medicare B and D?
Replies: 38
Views: 5399

Re: skip Medicare B and D?

Looking at my wife's options as she is signing up for Medicare soon. Going with A&B and supplement G; so for Part D coverage we still have a decision. Her few meds are cheap and the general advice seems to be either forgo Part D (not going this route) or get the cheapest part D plan available for catastrophic coverage.

In this second case, is there much difference between cheap(er) plans? There is certainly a whole bunch of tier options, and specific drugs to speculate on. How would I think about such a comparison?
by onthecusp
Sun Jan 31, 2021 8:03 pm
Forum: Personal Consumer Issues
Topic: Where to buy a diamond?
Replies: 18
Views: 2793

Re: Where to buy a diamond?

So if you are open to preowned that opens up a world of great value and a small amount of additional risk. We bought my wife's diamond, about 40 years ago, from a small independent jeweler. Might as well call him a pawn broker but they were technically not legal at that time and place. She loves it and continues to love it. She wanted a yellow diamond and that is what she got, the point being that the path I'm describing will probably not get you the highest quality in terms of the cut, color, and clarity. If that is super important or your are gonna get quizzed on the numbers and compare rings with magnifying glasses then some of the other advice is what you should follow. If you are going to look at stones / mountings and get what you lik...
by onthecusp
Fri Jan 29, 2021 6:07 pm
Forum: Investing - Theory, News & General
Topic: Understanding this “short squeeze” revolution
Replies: 168
Views: 16603

Re: Understanding this “short squeeze” revolution

What do you mean? So some people are not allowed to trade while others can trade freely. Is that what you understand from capitalism and free markets? Maybe I'm confused. When you said: What they have done was beyond disgusting. Who did you mean by "they," and what did you mean by "what"? I inferred that you meant "Robinhood" and "restricting people from opening new positions in certain volatile securities to avoid insolvency." It is correct. What i meant is that during certain periods they blocked people from buying/selling their stocks while in the same period hedge funds can do freely whatever they want. Think of it this way: I have 1000 shared gme and my robinhood account blocks me from trading b...
by onthecusp
Mon Dec 21, 2020 4:06 pm
Forum: Personal Investments
Topic: Two Solo 401k for self and spouse?
Replies: 4
Views: 649

Re: Two Solo 401k for self and spouse?

Questions: 1. To ..., can we each open a solo 401k and still file jointly and avoid creating any other issues ? By attribution you are also each deemed to own 100% of the other's business. As such these two businesses constitute a controlled group and the two of you should only adopt a single one-participant 401k plan with individual account(s) for each of you. You can still file MFJ with a separate Schedule C/SE for each of your businesses. Spirit Rider, I really appreciate all the detail you gave me earlier. I feel like I was doing really well, understand and agree with your interpenetrations of everything, until I find myself in a box with just a few days now till the end of the year. I composed a PM with more personal details, but then...
by onthecusp
Wed Dec 16, 2020 2:41 pm
Forum: Personal Finance (Not Investing)
Topic: Career advice with potentially major earnings?
Replies: 44
Views: 4169

Re: Career advice with potentially major earnings?

buttWould any BHs be willing to offer career advice? Speaking from personal experience or simply knowledge of career path? His children just need to become members of the Shareholder Class and reap the rewards of Capitalism. It works. I've made more money this year sitting on my butt doing nothing than I have ever made in my life before. He can front his children the money to get started. Bogleheads and this is the only post I noticed talking about the rewards of investing. :beer The neighbor simply needs to reduce spending and save more. As the savings accumulate that is the trigger for exponential increases in income and the ability to then increase spending. I recently switched from full time "regular" employment to part time ...
by onthecusp
Sat Dec 12, 2020 9:58 pm
Forum: Personal Consumer Issues
Topic: Oatmeal -- figuring out what I bought earlier
Replies: 71
Views: 8539

Re: Oatmeal -- figuring out what I bought earlier

I prefer Bob's Red Mill regular steel cut oats (not quick cook) to McCann's. How long does the Bob's Red Mill regular steel cut oats take to cook? Same question for McCann's, if you happen to know. Thanks in advance! That depends upon whether you like it al dente or mushy. Here's Bob's official recipe: For Stove Top Cooking Bring 3 cups water and 1/2 tsp salt to a boil then add 1 cup Bob's Red Mill Steel Cut Oats. Reduce heat to a low simmer. Cook 10 - 20 minutes (depending on how chewy you like your cereal). Stir occasionally. Remove from heat and let stand covered for a couple of minutes. Yields about 3 cups. That's the recipe I use for what ever brand we happen to buy. Steel cut/not "quick cooking". We like it at the 10 minute...
by onthecusp
Tue Oct 27, 2020 8:20 pm
Forum: Personal Finance (Not Investing)
Topic: Social security strategy question
Replies: 9
Views: 1426

Re: Social security strategy question

Another recommendation for opensocialsecurity.com. The answer will probably be close to your plan unless there is something unusual in your work histories. Then you may want to decide if postponing the first social security in favor of bigger Roth Conversions makes sense. You have enough in retirement accounts that Roth Conversions probably make sense. Only you can decide if the potential tax savings are worth the hassle and spending from taxable now is worth the probable savings later. Again using opensocialsecurity.com enter the alternatives of delaying 1 and 2 (maybe more) years. Print out the three scenarios and you will see how much delaying might cost. It may or may not be much but you will be spending from taxable as long as you dela...
by onthecusp
Tue Oct 27, 2020 8:03 pm
Forum: Personal Consumer Issues
Topic: Battle O'r the Estate
Replies: 123
Views: 11483

Re: Battle O'r the Estate

When my father passed he left my sisters and me the house on a lake that was originally a cottage that we all grew up visiting regularly. We would have loved to keep it in the family. We sold it for what we could get because every other option was an imposition on someone.

Everyone gets what they deserve.
by onthecusp
Fri Oct 23, 2020 6:29 pm
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2020!
Replies: 318
Views: 71225

Re: Roll Call for the Retirement Class of 2020!

I'll second the COBRA suggestion to at least consider it. You can take it upon retirement and keep it (for typically 18 months, they will give you paper work with details) or drop it during ACA open enrolment assuming that stays an option. I also consulted with a Health insurance broker (you should too) and she thought the COBRA plan was better than what else was available for my circumstances. COBRA is basically an extension of your current insurance, continues this years deductible and max spend limits, for the cost of your current contribution plus the company contribution plus a small administrative adder. If you have covered dependents they can also continue or opt out at Medicare age with premium savings.
by onthecusp
Thu Oct 22, 2020 4:31 pm
Forum: Personal Investments
Topic: Living on investment
Replies: 19
Views: 2683

Re: Living on investment

This is all great information. All of your input is so helpful. I feel better about being able to stop working. I don’t have a Roth IRA. Have 401k’s ,457 and traditional IRA as well as taxable account. I would withdraw from taxable account first. Do I just sell stock and bond fund shares to do this or have dividends stop reinvesting and live off of dividends if enough. I guess I haven’t really calculated taxes. I too think you are in good shape. For these questions you will get more nuanced answers, hang around here awhile and read other threads on similar subjects and compare to the advice you get here. I would say that regarding withdrawals from 401k/IRA and taxable your general plan might start with looking at the tax brackets. Married ...
by onthecusp
Wed Oct 21, 2020 8:36 pm
Forum: Personal Investments
Topic: Two Solo 401k for self and spouse?
Replies: 4
Views: 649

Re: Two Solo 401k for self and spouse?

Spirit Rider,
Thanks for all the excellent detail. More info than I hoped for! Less deferral than I hoped for! :D
I want to study it a bit and I'll probably impose on you a bit more in a few days.

Until then a procedural question. I'll read the IRS regs on this before pestering you anymore.

How would we make the election before the end of the year?
Set up the account. Each write a letter to a file detailing how much? Or is this a form to the IRS?
by onthecusp
Wed Oct 21, 2020 3:35 pm
Forum: Personal Investments
Topic: Two Solo 401k for self and spouse?
Replies: 4
Views: 649

Two Solo 401k for self and spouse?

Time for some new decisions regarding solo 401k funding. I would appreciate a little more advice or commentary. In my previous thread (thanks retiredjg & HomeStretch) :D https://www.bogleheads.org/forum/viewtopic.php?f=1&t=319027&p=5348637#p5348637 I received great guidance about Solo 401k plans, along with tweaks (Roth), and alternatives. I since made the move from full time employment to a part time 1099 position earlier this month. I maxed out my previous 401k plan contributions already this year. We have made no IRA contributions. I decided that a regular Solo 401k (or two) is right for our circumstances. Not going for any of the Roth or Mega Roth options that we previously discussed. My current questions revolve around opti...
by onthecusp
Thu Oct 01, 2020 9:55 am
Forum: US Chapters
Topic: Roll Call for the Retirement Class of 2020!
Replies: 318
Views: 71225

Re: Roll Call for the Retirement Class of 2020!

After watching these threads for a couple of years I've made a decision. April 3, 2020 is the plan. Tired of the megacorp culture all the time. I had hoped to make the jump this year, after one more year I'm certain we can make it work now. A little more in savings, a little more understanding of what our expenses will be. I hope the definition police don't object to a part time plan that involves consulting, but I'm sure looking at it as a retirement and if no actual work turns up we can make it just fine. Thanks Bogleheads! :sharebeer Adding 6 months to the original plan makes tomorrow the day. I gave notice two weeks ago and am very excited. It is not easy leaving long term co-workers and tossing years of project files in the trash made...
by onthecusp
Fri Sep 25, 2020 9:34 pm
Forum: Personal Consumer Issues
Topic: Any Blended Scotch Drinkers Here?
Replies: 59
Views: 6765

Re: Any Blended Scotch Drinkers Here?

In the single malts I'm a fan of Glenmorangie original 10 and also had quite a bit of the Famous Grouse blended which a friend kept for our weekly board games. It is excellent value especially for the second on. Recently had a bottle of Dewars and found it to be too heavy for my taste.

It is kind of interesting going back to various blends. I didn't have enough of a baseline for comparison until recently. I thought I remembered liking JW Red but it seems similar to the Dewars to me.
by onthecusp
Wed Sep 16, 2020 4:15 pm
Forum: Personal Consumer Issues
Topic: Grocery store didn't tell me Shingrix was $160
Replies: 200
Views: 18313

Re: Grocery store didn't tell me Shingrix was $160

It ticks me off too, but it is how it works. I have a medication that I can get 90 days for $9 using a manufacturer coupon that stays on file with the grocery pharmacy. Invariably if I forget to tell them to change it from my insurance to the coupon they want over $1,000! When I tell them they look at me like I grew an extra arm, the price is the price, right?

I can give that back, a shot is non-returnable. Just about every aspect of medical insurance is messed up in my opinion.
by onthecusp
Tue Sep 01, 2020 4:31 pm
Forum: Personal Investments
Topic: Husband doesn’t want to follow my investment plan
Replies: 47
Views: 8711

Re: Husband doesn’t want to follow my investment plan

Even a bad active manager can knock it out of the park over a short period like a year or two. This is a choice for the long haul.
by onthecusp
Thu Aug 27, 2020 12:50 pm
Forum: Personal Investments
Topic: Inheritance Advice
Replies: 13
Views: 1362

Re: Inheritance Advice

Superficially, I would add it to the 80/20 index fund allocation. You are very heavily skewed towards local real estate. Not necessarily a bad thing, just the way it is in farming.

You should start to think about what portion of that represents your "home" and what portion is an "investment" (or business). The investment is eventually to be sold or leased out in some manner to support retirement. Your home is that portion you could comfortably downsize to or keep.

Good luck!
by onthecusp
Sun Aug 23, 2020 9:02 pm
Forum: Personal Investments
Topic: When is enough enough?
Replies: 73
Views: 8732

Re: When is enough enough?

As I add it up the OP has about $1.3 million saved and owns 2 homes. Assuming no downsizing or selling the vacation home, this is the amount they'd have to draw down for expenses if they start drawing down relatively soon. At 4% that would be about $50K/yr pre-tax, If you go by the "3% is the new 4%" then the portfolio can supply about $40K/yr. By waiting it has a chance to grow. If they wait to use any of the savings for about 15 years until the wife retires from teaching it would have grown to about $3 million with a 6% rate of return, about $2.3 million with a 4% return, and more than $4 million with a 8% return. In my similar analysis I probably gave too much credit for the home value without pointing out that selling one at ...
by onthecusp
Sun Aug 23, 2020 5:30 pm
Forum: Personal Investments
Topic: When is enough enough?
Replies: 73
Views: 8732

Re: When is enough enough?

So you plan to continue working and want a handle on when you can slow down on saving. Spending a lot more now might make it hard to adjust to less in retirement. You could do that, 2MM plus pension and health care means you won't be poor. If maintaining a constant spending ability through retirement is important you could look at it this way. Using the 4% rule your 2MM is currently worth 80,000 a year in retirement. Add the teacher pension or 45,000. Add health care value, I don't know but say 10,000. Not clear on if you get a pension or social security, lets say max social security at 70 currently around 35,000 That is a total income of 170,000. Seems to me that is close to what you could very comfortably spend now and expect to gradually...
by onthecusp
Thu Aug 13, 2020 1:40 pm
Forum: Investing - Theory, News & General
Topic: How to invest in an inflationary environment: real estate?
Replies: 18
Views: 1955

Re: How to invest in an inflationary environment: real estate?

Thinking only in terms of a mortgage for personal housing to leave off the variables involved in rental properties.
If, say, I could get a (no cost) mortgage for 2.75% then inflation has to average well over that to make it worth my while to make payments and think about it every month.

I won't be surprised at a short term spike in inflation but I'm not convinced on the long term prospects.
by onthecusp
Wed Aug 05, 2020 3:37 pm
Forum: Personal Investments
Topic: Master Limited Partnerships (MLPs) and taxes
Replies: 48
Views: 4254

Re: Master Limited Partnerships (MLPs) and taxes

123 wrote: Wed Aug 05, 2020 1:53 pm Even if you end up unhappy with your MLPs you can find comfort in the fact that the financial adviser that sold them to you was happy you bought them.
No FA involved here. I make my own mistakes! :sharebeer
And although I am not unhappy with them they do complicate my life.
by onthecusp
Wed Aug 05, 2020 1:50 pm
Forum: Personal Investments
Topic: Master Limited Partnerships (MLPs) and taxes
Replies: 48
Views: 4254

Re: Master Limited Partnerships (MLPs) and taxes

Just as another example of the complications you get into with MLPs. USAC is seen as a pretty good business for now. ET owns a good size chunk of USAC so you already own some through your ownership of ET. I don't know what has happened since, but in 2018 when ET contributed some compression assets and got ownership of USAC units in return, ET also took on the "General Partner" of USAC. The relationship of a General Partner to the Master Limited Partnership is exactly as contractually defined for each such arrangement with more or less $ (incentive distribution rights or IDR) going to the GP along with murkier aspects of direction and control. My impression is that ET gave up the GP IDR$ in exchange for more ordinary units. But I h...
by onthecusp
Tue Aug 04, 2020 8:01 pm
Forum: Personal Investments
Topic: Master Limited Partnerships (MLPs) and taxes
Replies: 48
Views: 4254

Re: Master Limited Partnerships (MLPs) and taxes

Just another vote here not to invest in them, no matter the industry. I exited because of all of my tax complications, they even screwed up my K-1 one year and it was an absolute mess to get straightened out. Also, I got dinged with UBTI in a Roth account when I sold. Look into that wrinkle, if it exceeds a $1000 in a year, it becomes a problem in your retirement accounts. It was a modest amount, but seeing tax come out of your Roth IRA just hurts. :oops: I wasn't as well educated on them as I am now. Fortunately, I exited all these positions well before the bottom really fell out of the energy markets and went with a more Boglehead approach. :sharebeer I do think in a "speculative" sense, this part of the market is deeply underv...
by onthecusp
Tue Aug 04, 2020 1:31 pm
Forum: Personal Investments
Topic: Master Limited Partnerships (MLPs) and taxes
Replies: 48
Views: 4254

Re: Master Limited Partnerships (MLPs) and taxes

The tax complications are real. The tax advantages for which one might put up with them is the opportunity for tax deferral in a taxable account. For the most part, distributions from MLP are not taxed when they are paid. The tax is paid (mostly) as a change in basis when the units are sold. This might be an advantage if your tax situation changes and you are in a lower bracket when you sell. Or your heir(s) receive a step up in basis and sell them tax free right after you pass. Mostly, unless you have a lot of money in them, and a CPA advising you on the issues, the hassles are not worth the issues. ET is probably up today, you could sell at a small profit and put this behind you. I say this as someone who owns some MLPs, acquired through ...
by onthecusp
Sat Aug 01, 2020 4:19 pm
Forum: Personal Consumer Issues
Topic: Speed bump in front of your house — affect on home value
Replies: 54
Views: 9898

Re: Speed bump in front of your house — affect on home value

barnaclebob wrote: Fri Jul 31, 2020 12:25 pm
onthecusp wrote: Thu Jul 30, 2020 5:27 pm I would pass on a house on a street with speed bumps, all else being equal.
But thing are almost never that equal when looking at a house
So true, but "value" is the result of the equation

Good - Bad = Value.

I put speed bumps in the Bad category.
by onthecusp
Thu Jul 30, 2020 5:27 pm
Forum: Personal Consumer Issues
Topic: Speed bump in front of your house — affect on home value
Replies: 54
Views: 9898

Re: Speed bump in front of your house — affect on home value

I would pass on a house on a street with speed bumps, all else being equal.
by onthecusp
Sun Jul 26, 2020 11:21 pm
Forum: Personal Finance (Not Investing)
Topic: We are planning a lifestyle move to a new city in five years and would like to get your take.
Replies: 30
Views: 4167

Re: We are planning a lifestyle move to a new city in five years and would like to get your take.

Going from saving a bunch to hardly at all can be stressful in and of itself. Sort of like actual retirement without the withdrawals. In five years you may be really questioning yourself even if the math continues to work out. Or not.

I would say your plan is probably OK if inflation or big economic hits do not change the math. Many would considering early retirement with 2 million in the bank, so financing a lifestyle without dipping into savings is already pretty much OK in my book. But that assessment depends on so many of the details not shared.

You might want to consider planning to save more than just the 401k match. Scale it back if the balances continue to grow dis-proportionally.
by onthecusp
Mon Jul 20, 2020 5:14 pm
Forum: Personal Consumer Issues
Topic: Lab Grown versus Mined Diamond
Replies: 12
Views: 1381

Re: Lab Grown versus Mined Diamond

Retail diamonds are not a good investment (in the money sense, my wife may disagree). If you ever try and sell the question is if you might get 1/4 or 1/2 of the original "value". Personally I'd rather lose half or more on a cheaper diamond. Realize you can still go natural but with lower cut/color/clarity. Differences there are hard to see unless you are holding otherwise identical stones next to each other or you have veeeery discerning taste.

Buy what you like, as long as you can afford it.
by onthecusp
Sat Jul 18, 2020 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Tired Lawyer, Need career and life advice
Replies: 106
Views: 17069

Re: Tired Lawyer, Need career and life advice

You could retire, with some tradeoffs/cutbacks. I suggest continuing in "one more year" mode which can relieve much of the stress. While still fully employed look for and find part time lawyering for a similar rate. $180 an hour is cheap for a lawyer with corporate experience, 1500 hours gets you $270,000/yr.

You don't really need to save any more, but paying living costs allows you to let the investments grow. 1500 hours leaves over 14 weeks off a year. $270,000 covers a lot of living including health care premiums.
by onthecusp
Mon Jul 13, 2020 6:10 pm
Forum: Investing - Theory, News & General
Topic: Were You Around During Dotcom Bubble?
Replies: 266
Views: 26998

Re: Were You Around During Dotcom Bubble?

I was investing, I mean randomly speculating, :( back then. I put, I think about $12,000 into OnSale.com which became part of egghead.com later on. Ticker ONSL. A few weeks later a short squeeze sent it into the stratosphere and I was a dotcom millionaire, literally I saw that position worth more than a million dollars. A few hours later it was back down to about $20,000 and later I sold before they went bankrupt. :oops: I was working for a living (still am) and didn't have time to really consider selling. It's a good story but not a good experience.
by onthecusp
Fri Jul 10, 2020 9:34 pm
Forum: Personal Finance (Not Investing)
Topic: Convenience Fee For Mortgage Payment?
Replies: 22
Views: 2307

Re: Convenience Fee For Mortgage Payment?

Not in CA. I use Chase bank "billpay" which sends a check if they don't have an electronic system linked directly to Chase. I set it to automatically send the same amount every month timed to get there a couple of days early.

Super convenient, more so than logging into yet another mortgage site.
by onthecusp
Fri Jul 10, 2020 12:34 pm
Forum: Personal Investments
Topic: 51 year old physician
Replies: 85
Views: 12431

Re: 51 year old physician

You will get more responses if you post in the following format. https://www.bogleheads.org/wiki/Asking_portfolio_questions +1 A fairly generic answer in the meantime is: contribute to 401k and other tax-advantaged accounts (IRAs, other plans you may have at work). Invest the contributions into a "Target Date" fund that has a mix of stocks and bonds that you're comfortable with, say 70% Stocks, 30% Bonds. 2500 a month = 30k / year. In 10 years that's 300k assuming no growth and no inflation. In 10 years, there's a wide range of possible investing outcomes, including very low growth -- think the "lost decade of investing" from 2000 to 2009. Good chance your expenses will need to be further cut. Yes, as others have said, ...
by onthecusp
Thu Jul 09, 2020 4:24 pm
Forum: Personal Investments
Topic: Reasonable withdrawal rate?
Replies: 18
Views: 2271

Re: Reasonable withdrawal rate?

Welcome back and thanks for helping it along in the early days. :D

I'm in the camp that since your rate goes down after only 8 years that 4 (or even 5% in a big spending year) is quite conservative plan. Maybe look into the VPW spending plan in the WIKI if you can accept a little variability. And you don't have to spend it all in the "high" years.
by onthecusp
Tue Jul 07, 2020 10:25 pm
Forum: Personal Finance (Not Investing)
Topic: 15 year or 30 year mortgage?
Replies: 104
Views: 9630

Re: 15 year or 30 year mortgage?

If your career is likely to include pretty regular pay increases then I would stretch for the 15 year like we have the last 4 houses we bought. This is the case for my job. If we try 15 and it’s just keeping us too thin as years go by, is it a difficult or wasteful process to ReFi to a 30 year? As much as I like to encourage 15 yr mortgages because it has worked well for us, it may not be right for you. If you are really just too close to the edge because of local housing prices/wanting to be in a particular area etc. there is nothing wrong with a 30. I think it could well be a bit wasteful to start one way then change. When rates are going down, you can do a "no cash" refi and get a lower rate just not as low as if you paid for ...
by onthecusp
Mon Jul 06, 2020 6:02 pm
Forum: Personal Consumer Issues
Topic: Bird watchers – what birds are you seeing?
Replies: 2857
Views: 230295

Re: Bird watchers – what birds are you seeing?

Wife and I saw a hawk in the back yard on our swim yesterday too! It hopped around the tree branches for awhile but could not see it clearly enough to determine what kind.
by onthecusp
Mon Jul 06, 2020 5:59 pm
Forum: Personal Finance (Not Investing)
Topic: 15 year or 30 year mortgage?
Replies: 104
Views: 9630

Re: 15 year or 30 year mortgage?

I'd do 30 if you're anywhere near being tight on 15. Absolutely. +2 Often, a 15 year makes no sense. A recent example from another thread: 3% 30 year vs a 2.65% 15 year. 15 year costs $674/mo per $100k. 30 year costs $422/mo per $100k. If you pay $674/mo per $100k on the 30 year loan, you'll have paid the loan down in 15 year, 6 months. Only a 6 month penalty, and you can relax your monthly payment $252 per $100k if a month gets tight. Lots of online calculators will compute pay off period with extra payments, and google's home page will tell you the baseline. That is a very interesting observation. I didn't expect it to be that close. However you need to keep up the $674/mo payment every month to get there in which case why not go for 15 ...
by onthecusp
Mon Jul 06, 2020 3:24 pm
Forum: Personal Finance (Not Investing)
Topic: 15 year or 30 year mortgage?
Replies: 104
Views: 9630

Re: 15 year or 30 year mortgage?

If your career is likely to include pretty regular pay increases then I would stretch for the 15 year like we have the last 4 houses we bought. It has always given us more to put down on the next. Also it encourages you not to buy too much house.

Never quite got any paid off before we moved. We are paying tons extra right now every month and might pay it off in another 3 years so about 4 years early. Might retire before then and keep up the streak.

If your career is more lumpy, say commission based, then go for the flexibility. Pay lots extra when you can. Make sure you identify the extra payment to be applied to principle.
by onthecusp
Sun Jul 05, 2020 8:50 pm
Forum: Personal Consumer Issues
Topic: Boglehead Way to buy an Audi
Replies: 91
Views: 7972

Re: Boglehead Way to buy an Audi

This Bogelhead bought 4 used Audi's and have been happy with all of them. First was from a private seller, second was off lease (essentially CPO with the warranty they offered at the time), third was lemon law title from a local luxury used car dealer, and the last was from Texas Direct Auto, an experience very similar to Carmax. The first method offered no warranty on a 1990 Coupe Quattro. Drove the wheels off it to about 170,000 miles and trained my local mechanic. Sold it as a project car to an enthusiast. The off lease from a dealer on a 2000 A6 2.7t had a crazy long warranty to 100,000 miles. I got a good deal because it was a 6 speed, but it was basically an S6. They replaced the water pump and timing belt at about 60,000, the front s...
by onthecusp
Sun Jul 05, 2020 12:02 am
Forum: Personal Consumer Issues
Topic: Excess Flow Valve
Replies: 8
Views: 1057

Re: Excess Flow Valve

Just googled it and it does not protect against gas leaks in the home. It is useful against major damage like excavation that hits your gas line or other pipe failure. Is this an issue anywhere?
by onthecusp
Fri Jul 03, 2020 5:00 pm
Forum: Personal Investments
Topic: Do I need a Solo 401k / Mega back door Roth plan?
Replies: 17
Views: 1146

Re: Do I need a Solo 401k / Mega back door Roth plan?

Got it. Time for me to do more personal investigation. Thanks for narrowing the field for me.
by onthecusp
Fri Jul 03, 2020 4:37 pm
Forum: Personal Investments
Topic: Do I need a Solo 401k / Mega back door Roth plan?
Replies: 17
Views: 1146

Re: Do I need a Solo 401k / Mega back door Roth plan?

HomeStretch wrote: Fri Jul 03, 2020 4:15 pm
onthecusp wrote: Fri Jul 03, 2020 3:55 pm ... My plan is to make the employment move within a month or so and and talk to Fidelity where all my other accounts are, about a solo 401k. ...
Keep in mind that Fidelity’s Solo 401k does not allow Roth employee deferrals or a mega Backdoor Roth. Aside from that, I use and like their Solo 401k.
That's good to know. I've pretty well ruled out the MBD Roth for me.

I don't think the "regular" Roth offers me much, but I was going to do more math on that one. Does Fidelity let you do Roth employer deferrals?
by onthecusp
Fri Jul 03, 2020 3:55 pm
Forum: Personal Investments
Topic: Do I need a Solo 401k / Mega back door Roth plan?
Replies: 17
Views: 1146

Re: Do I need a Solo 401k / Mega back door Roth plan?

retiredjg wrote: Fri Jul 03, 2020 6:42 am
onthecusp wrote: Thu Jul 02, 2020 11:46 pm What I meant about the solo Roth 401k is that I have not explored it at all. My understanding is that currently, as a wage employee, our joint income is well over the limit to be able to contribute to a Roth. However, based on the above, it appears that using after tax money to fund a solo Roth would be paying 22% to avoid paying 12% later. Is it still worth looking at?
It sounds like using traditional 401k would be fine for you at this point.
Thanks for the guidance and suggestions.

My plan is to make the employment move within a month or so and and talk to Fidelity where all my other accounts are, about a solo 401k. I'll probably have more questions then.
by onthecusp
Thu Jul 02, 2020 11:57 pm
Forum: Personal Investments
Topic: Do I need a Solo 401k / Mega back door Roth plan?
Replies: 17
Views: 1146

Re: Do I need a Solo 401k / Mega back door Roth plan?

Interesting points. I think I could self administer if I stay away from the Mega Backdoor Roth option, but still the current IRA might be enough for now. Good background on some of the other plans, I'll keep that in mind if I do go the solo 401k route. I don't recall hearing of difficulty from people administering their own ordinary Solo 401k (that does not have the mega option). My spouse has not had an IRA, but yes that is a good reminder. We have pretty much put max savings so far in other accounts. It would be a way to shelter a little more this year at least. And as long as she has income in the future. Your spouse does not need income - Your spouse can contribute to IRA based on your income. It would be good to get a Roth IRA started...
by onthecusp
Thu Jul 02, 2020 11:46 pm
Forum: Personal Investments
Topic: Do I need a Solo 401k / Mega back door Roth plan?
Replies: 17
Views: 1146

Re: Do I need a Solo 401k / Mega back door Roth plan?

Do I have adequate tax-deferred: My RMDs will be more than I need so I guess the answer is yes. After 70 it should be approaching 30,000 and we will be needing around 15,000. I plan to do some Roth Conversions in the 5 years before 72. Maybe also some early withdrawals without rolling it into a Roth, depending on my overall income. But saving tax next year and then paying a little less in a couple years sounds good too. It's ok to have an RMD that is more than you actually need. You don't have to spend it all. It's not always OK to have enough RMD that it will push you into a higher tax bracket. Do you have reason to believe that $30k (and more later on) will push you into a bracket higher than 22% (which is where you will be in the years ...