Search found 2540 matches

by dknightd
Wed Apr 14, 2021 9:24 am
Forum: Personal Consumer Issues
Topic: 10+ year old used cars?
Replies: 48
Views: 2698

Re: 10+ year old used cars?

If you can afford a new car. Do that
by dknightd
Wed Apr 14, 2021 8:41 am
Forum: Personal Consumer Issues
Topic: 10+ year old used cars?
Replies: 48
Views: 2698

Re: 10+ year old used cars?

I bought a 10 year old BMW convertible with 80k plus miles on it. That was 9 years ago. I'm still happy with that decision. I wanted a convertible.
by dknightd
Wed Apr 14, 2021 8:10 am
Forum: Investing - Theory, News & General
Topic: Anyone else hoarding cash right now?
Replies: 251
Views: 30990

Re: Anyone else hoarding cash right now?

OK, I'll play. Even if the thread is old. I'm doing this partly to make sure my current plan still makes sense to me. So feel free to question it! I'm retired. So no longer putting money in. What I have is what I have. I currently have more cash like things than I have ever had before. Some of cash ...
by dknightd
Mon Apr 12, 2021 10:05 am
Forum: Personal Consumer Issues
Topic: The Great Swing Set Dilemma
Replies: 56
Views: 4551

Re: The Great Swing Set Dilemma

Buy the cheap one. Make sure it is firmly anchored. Be prepared to give it away when the kids are done.
I guess the alternative is to get a free one that somebody is done with. But that is more work.
by dknightd
Mon Apr 12, 2021 9:22 am
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 258
Views: 18524

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

To many people spend way to much money on vehicles. If you have the cash its not a big deal but I would assume most couples making under $100,000 have probably around $50,000 worth of cars or more in their driveway. Thats a problem! The problem for some people is they spend way too much of their in...
by dknightd
Mon Apr 12, 2021 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Broker 3rd degree over every retirement withdrawal?
Replies: 61
Views: 7116

Re: Broker 3rd degree over every retirement withdrawal?

Now, the question of why stop at the IRA, and not just take the withdrawals from the 401(k)? Good question - There's a mandatory 20% withholding on the 401(k) withdrawal. Which I feel is quite a negative. Consider, $100K withdrawal for a couple. Nothing but std deduction. Tax on $75200 is $8629. Bu...
by dknightd
Sat Apr 10, 2021 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: Do budgets work?
Replies: 122
Views: 4816

Re: Do budgets work?

Mr.BB wrote: Sat Apr 10, 2021 1:19 pm
Some people need the structure. Everyone is different.
True. But I would still ignore the twitter feed looking for your money.
by dknightd
Sat Apr 10, 2021 1:14 pm
Forum: Personal Finance (Not Investing)
Topic: Do budgets work?
Replies: 122
Views: 4816

Re: Do budgets work?

This morning, I read a Tweet I found depressing: "In 13 years as a financial advisor, I've never seen anyone actually turn their life around with a budget. They either earn their way out of their spending habits, or they are in debt forever." Do you agree? 13 years as financial advisor. I...
by dknightd
Sat Apr 10, 2021 12:50 pm
Forum: Personal Finance (Not Investing)
Topic: In-Laws' HOA demanding $8000 lumpsum payment
Replies: 91
Views: 10509

Re: In-Laws' HOA demanding $8000 lumpsum payment

this is why you, and your in-laws, should keep a cash cushion. For the unexpected.
by dknightd
Sat Apr 10, 2021 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone contemplating OLY (One Less Year)?
Replies: 52
Views: 4722

Re: Anyone contemplating OLY (One Less Year)?

Go for it. You only die once
by dknightd
Sat Apr 10, 2021 11:24 am
Forum: Personal Investments
Topic: Protect savings from imminent inflation?
Replies: 29
Views: 2941

Re: Protect savings from imminent inflation?

I'm not so sure about the stocking up thing, but I have taken to buying shoes two or three pair at at time and some other things as well, trousers by the two to three pair. But that is also a defense against not being able to find that item in next year's styles and also that one does not wear the ...
by dknightd
Sat Apr 10, 2021 10:22 am
Forum: Personal Investments
Topic: Protect savings from imminent inflation?
Replies: 29
Views: 2941

Re: Protect savings from imminent inflation?

I used to keep a 1 month supply of Toilet paper. Now I keep 6 months.
I'm not sure what else to do. Perhaps spend your savings now?
by dknightd
Sat Apr 10, 2021 9:16 am
Forum: Investing - Theory, News & General
Topic: Rebalance frequency
Replies: 39
Views: 2810

Re: Rebalance frequency

I'm keeping my AA on a short leash. I have been rebalancing more than I'd like lately. When ever my stock holdings get more than I want, I rebalance, or take profits, call what you want. I guess I should be happy. If I was 30 years younger I'd stick to what I was doing in accumulation phase. Rebalan...
by dknightd
Sat Apr 10, 2021 8:46 am
Forum: Personal Finance (Not Investing)
Topic: Tax bill split between spouses
Replies: 81
Views: 4269

Re: Tax bill split between spouses

DreamsOfRetiring wrote: Fri Apr 09, 2021 6:29 pm
Roughly the seperate calculation as MFS. And then split the savings from MFJ in ratio of income..
good solution. Glad you got it sorted out.
by dknightd
Thu Apr 08, 2021 9:45 am
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 258
Views: 18524

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

Buying cheaper vehicles is a great way to save a lot of cash. I understand the safety part but the reality is the safety argument is not that solid. If you get in a bad accident these newer cars will not save your life....my as well drive something cheap and keep investing :D Aside from the industr...
by dknightd
Thu Apr 08, 2021 8:49 am
Forum: Personal Consumer Issues
Topic: The $2000-$4000 Car :) This made me wealthy so jump on board
Replies: 258
Views: 18524

Re: The $2000-$4000 Car :) This made me wealthy so jump on board

Good Morning, Everyone has their "thing" that they enjoy to spend money on so if cars are your "thing" then please don't be offended. I have no problem dropping $500 on a round of golf at Whistling Straits or spending $200 on a meal every now and then. With that being said I am ...
by dknightd
Thu Apr 08, 2021 8:46 am
Forum: Personal Consumer Issues
Topic: 2019 Porsche Macan Excessive Tire Noise: Options?
Replies: 54
Views: 3654

Re: 2019 Porsche Macan Excessive Tire Noise: Options?

If your tire are too noisy. buy new tires.
by dknightd
Thu Apr 08, 2021 8:10 am
Forum: Personal Finance (Not Investing)
Topic: Tax bill split between spouses
Replies: 81
Views: 4269

Re: Tax bill split between spouses

Why worry. You are a couple.
by dknightd
Thu Apr 08, 2021 7:38 am
Forum: Personal Consumer Issues
Topic: Repair or Replace 2003 Toyota Corolla
Replies: 67
Views: 5622

Re: Repair or Replace 2003 Toyota Corolla

You are in a tough situation, fix old car, or buy new car. Never a fun time. As I understand it, you have one car you can still use. You have one driver (you). You are probably busy, and more or less need a car. You have a child that might want a car at the end of the year. My normal rule of thumb i...
by dknightd
Sun Apr 04, 2021 10:02 am
Forum: Personal Consumer Issues
Topic: Repair or Replace 2003 Toyota Corolla
Replies: 67
Views: 5622

Re: Repair or Replace 2003 Toyota Corolla

If I die before my wife. I want to make sure she can buy a new car. That could come from life insurance, or portfolio balance. Cars are consumables. Just like food or water. Perhaps a better way of thinking about this is - how much transport do you need. Does a car even make sense? For some a car is...
by dknightd
Sun Apr 04, 2021 9:14 am
Forum: Personal Consumer Issues
Topic: Repair or Replace 2003 Toyota Corolla
Replies: 67
Views: 5622

Re: Repair or Replace 2003 Toyota Corolla

mrpotatoheadsays wrote: Sun Apr 04, 2021 8:54 am Sounds like you need a new mechanic first.

I had a mechanic tell me my car needed over $2000 in repairs. I fixed what needed to be be done myself for ~$200, drove it for two more years and then sold it near the expected end-of-life mileage.
Are you volunteering to fix her car?
by dknightd
Sun Apr 04, 2021 8:32 am
Forum: Personal Consumer Issues
Topic: Repair or Replace 2003 Toyota Corolla
Replies: 67
Views: 5622

Re: Repair or Replace 2003 Toyota Corolla

I'm going to assume you took the car to a mechanic because the battery light was on. So it likely needs a new alternator. If the belt has not been replaced lately, now would be a good time. It seems you already plan to replace this car, and perhaps give it to your daughter. So you really have 3 deci...
by dknightd
Fri Apr 02, 2021 10:37 pm
Forum: Personal Investments
Topic: Required Minimum Distribution???
Replies: 20
Views: 2926

Re: Required Minimum Distribution???

Yes!!! QCDs can be part of your RMD and you do not have to pay tax on the amount donated. You also still get to take the standard deduction. For this to work in the best way, you have to make your QCDs before your RMD is completed. QCDs also will lower your AGI for other calculations and may also l...
by dknightd
Fri Apr 02, 2021 10:47 am
Forum: Personal Investments
Topic: Required Minimum Distribution???
Replies: 20
Views: 2926

Re: Required Minimum Distribution???

Because you are also over 70.5 years old, if you are charity-minded, you also can take some or all of your withdrawals as Qualified Charitable Distributions. QCDs don’t increase your taxable income, but the charity gets to spend them, not you. I'm curious how that works. Just for planning purposes....
by dknightd
Fri Apr 02, 2021 8:22 am
Forum: Personal Finance (Not Investing)
Topic: Do you trust the current value of your portfolio?
Replies: 130
Views: 9182

Re: Do you trust the current value of your portfolio?

I trust the current value of my portfolio. I also trust that it might go up or down at any time. When you have enough, and trust your plan, you might as well retire. I expect my portfolio will go up and down over the years. My plan includes some flexibiity in spending.
by dknightd
Wed Mar 31, 2021 9:12 am
Forum: Personal Finance (Not Investing)
Topic: Spending money and living now VS saving and living better later?
Replies: 82
Views: 17295

Re: Spending money and living now VS saving and living better later?

JoeRetire wrote: Wed Mar 31, 2021 9:08 am Oh well - you can't change the past.
And you can not predict the future. Muddle on we must.
by dknightd
Wed Mar 31, 2021 8:59 am
Forum: Personal Finance (Not Investing)
Topic: Spending money and living now VS saving and living better later?
Replies: 82
Views: 17295

Re: Spending money and living now VS saving and living better later?

I used to think you only lived once. But a wise friend told me you only die once. You live everyday till then.
by dknightd
Wed Mar 31, 2021 8:11 am
Forum: Personal Finance (Not Investing)
Topic: Spending money and living now VS saving and living better later?
Replies: 82
Views: 17295

Re: Spending money and living now VS saving and living better later?

The goal should be to achieve an overall average standard of living over one's life. . . . snip . . . How to achieve this however is another question. I agree. To both statements. I retired when my after tax "take home" pay was about what I was making during my earning years. I started sa...
by dknightd
Sat Mar 27, 2021 2:14 pm
Forum: Personal Investments
Topic: Considering converting traditional to Roth.
Replies: 20
Views: 1186

Re: Considering converting traditional to Roth.

stm1908 wrote: Sat Mar 27, 2021 9:05 am
2. Outside Traditional IRA has $270k (initial investment was $70k... $200k is growth over 2 years).
sign me up! Thanks
by dknightd
Sat Mar 27, 2021 8:07 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3779

Re: Advice on not stressing closer to retirement

I am suspecting livesoft is in lower tax bracket than you! Remember, tax bracket correlates with taxable income. It has NO relationship with your portfolio at all. That is true. Most of my funds are tax deferred. So when I use them it gets taxed as ordinary income. If livesoft has most of their mon...
by dknightd
Sat Mar 27, 2021 7:43 am
Forum: Personal Consumer Issues
Topic: Turning unheated garage into woodshop: add raised flooring?
Replies: 19
Views: 1334

Re: Turning unheated garage into woodshop: add raised flooring?

If the concrete was in good shape I'd leave it as is. Even an on-grade concrete floor acts as a heat mass that will help keep things warm and cold. Insulate the walls and ceiling. I'd consider a mini-split heat-pump system for heating and cooling. They work great except during extreme cold. If your ...
by dknightd
Thu Mar 25, 2021 10:43 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3779

Re: Advice on not stressing closer to retirement

You have enough. Do what makes you happy.
by dknightd
Thu Mar 25, 2021 10:13 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3779

Re: Advice on not stressing closer to retirement

I got divorced from my spouse a couple of years ago, which put a big crimp in planning. As I mentioned I have enough to be ok no matter what, but it's not as nice a picture as it was then. Maybe I'm still adjusting. bummer. This might be the worse possible combination. You are still adjusting.
by dknightd
Thu Mar 25, 2021 9:44 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3779

Re: Advice on not stressing closer to retirement

jebmke wrote: Thu Mar 25, 2021 9:26 am you might be surprised.
I stand corrected. If i lost a million dollars I'd be broke. I forget that a million dollars is pocket change for some. For me it is my life.
by dknightd
Thu Mar 25, 2021 9:13 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3779

Re: Advice on not stressing closer to retirement

livesoft wrote: Thu Mar 25, 2021 8:31 am I lost more than a million dollars [at one point] in 2020.
If I lost a million dollars, I'd be looking for a free bus to the food bank!

edit: Clearly we are not in the same tax bracket!
by dknightd
Thu Mar 25, 2021 8:37 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3779

Re: Advice on not stressing closer to retirement

My advice to you is do not retire until you feel comfortable doing it.
Edit: for me the hardest part was becoming a spender instead of a saver.
by dknightd
Thu Mar 25, 2021 7:49 am
Forum: Personal Investments
Topic: Advice on not stressing closer to retirement
Replies: 62
Views: 3779

Re: Advice on not stressing closer to retirement

I do not think there is a way to completely eliminate some stressing over this. In some ways it is the most important decision of your life! The fact that market losses and gains are much bigger than your contributions is a good thing. Likely it means you have enough. If you are married, make sure y...
by dknightd
Tue Mar 23, 2021 8:15 am
Forum: Investing - Theory, News & General
Topic: Early Retirement and Absorbing the 10% Withdrawal Penalty
Replies: 46
Views: 4360

Re: Early Retirement and Absorbing the 10% Withdrawal Penalty

I'm completely naive about these things. But if I read it correctly 10% of zero, is still zero!
by dknightd
Sun Mar 21, 2021 9:49 am
Forum: Personal Consumer Issues
Topic: Thought about buying a small motor home, but the market is crazy; Just bought one!!
Replies: 242
Views: 22449

Re: Thought about buying a small motor home, but the market is crazy; Just bought one!!

I want a small motor home. Perhaps I should have worked one more year. I like the transit awd ecoboost chassis. Maybe one day. I'm glad my kids learned to camp in a tent.
by dknightd
Sun Mar 21, 2021 9:20 am
Forum: Personal Finance (Not Investing)
Topic: Can you give financial advice to friends and receive money?
Replies: 54
Views: 4586

Re: Can you give financial advice to friends and receive money?

JoMoney wrote: Sun Mar 21, 2021 9:15 am I would advise a friend to not pay for "financial advice"
this!
by dknightd
Sun Mar 21, 2021 8:57 am
Forum: Personal Finance (Not Investing)
Topic: Can you give financial advice to friends and receive money?
Replies: 54
Views: 4586

Re: Can you give financial advice to friends and receive money?

You asked "Can you give financial advice to friends and receive money?" The answer is probably yes, depends where you live. But I would NOT do it. It is perfectly acceptable for them to buy you beer while you give them free advice. Or any other time ;) We usually just take turns. Even then...
by dknightd
Fri Mar 19, 2021 8:14 am
Forum: Personal Investments
Topic: TIAA Real Estate
Replies: 78
Views: 11399

Re: TIAA Real Estate

Presumably the REITs themselves have managers that select the properties. So, is it plausible that the expenses that appear in the expense ratio for TREA could be priced into the REITs? After all these threads on TREA, is there a definitive answer on how to interpret the seemingly high ER? I assume...
by dknightd
Wed Mar 17, 2021 8:58 am
Forum: Investing - Theory, News & General
Topic: 4% rule disputed (Again??!!)
Replies: 421
Views: 29670

Re: 4% rule disputed (Again??!!)

That table is very very conservative in my opinion! I admit I did not read article. Maybe I will. But not likely! For planning purposes I suppose anywhere between 2-5% is probably OK. It depends on how conservative you want to be. And how flexible you can be. But I'm not planning to retire anymore. ...
by dknightd
Mon Mar 15, 2021 10:01 am
Forum: Personal Investments
Topic: Diversify My portfolio: What should I choose instead of gold?
Replies: 6
Views: 627

Re: Diversify My portfolio: What should I choose instead of gold?

If you want something other than gold, then I would not call it the golden butterfly. Maybe include some gold, some silver, some copper, some other commodity instead of all gold? Is real estate a substitute for gold? Maybe. But you can carry gold with you, hard to do with real estate. Honestly I lik...
by dknightd
Fri Mar 12, 2021 8:33 am
Forum: Personal Investments
Topic: Tools for optimizing Roth conversions?
Replies: 63
Views: 5507

Re: Tools for optimizing Roth conversions?

By limiting Roth conversion within some tax bracket (or below IRMAA cliff) are we then anticipating a certain level of RMD to be acceptable? Probably. My current projection is RMD, SS, and annuity, will leave me in the same tax bracket I'm in today. If the tax deferred portfolio does well, the RMD ...
by dknightd
Wed Mar 10, 2021 11:51 am
Forum: Personal Investments
Topic: Tools for optimizing Roth conversions?
Replies: 63
Views: 5507

Re: Tools for optimizing Roth conversions?

I guess I assume nothing changes, until it changes.
by dknightd
Wed Mar 10, 2021 11:06 am
Forum: Personal Investments
Topic: Tools for optimizing Roth conversions?
Replies: 63
Views: 5507

Re: Tools for optimizing Roth conversions?

I gave up optimizing Roth conversions. I can't predict anything. I convert up to the top of my current tax bracket.