Search found 364 matches

by phinanciallyfit
Fri Mar 08, 2024 9:00 am
Forum: Personal Finance (Not Investing)
Topic: feeling stuck with kid expenses and this phase of life
Replies: 61
Views: 7547

Re: feeling stuck with kid expenses and this phase of life

I'm not reading other replies because I just popped on here for brief brake but need to get back to working during these precious hours when the kids are at school. However, I wanted to say "this too shall pass." I have been reflecting recently on how much I stressed over maxing my retirement and how much easier it is to work on catching up now that I don't have to pay for childcare. Sure, there are still expenses (kids activities, some travel, summer camps etc.), but 1) they aren't nearly as large and 2) my spouse and I have both had our incomes go up (which oddly enough, I didn't really expect to happen by much). The infant and toddler stages are really difficult for various reasons, so try to let your funds help you through it....
by phinanciallyfit
Fri Feb 09, 2024 11:55 am
Forum: Personal Consumer Issues
Topic: Birthday gift for kids at 13
Replies: 32
Views: 2617

Re: Birthday gift for kids at 13

My kids are 14 and 11. We get them what they ask for. Not everything, but what we can afford. I don't know any kids who don't want anything for their birthday. Do some digging. Ask again in a different way. "Would you like XYZ for your bday?" What are your kids in to? Couple years back I got my son a gaming setup - desk, gamer chair, PS4, for his room. My daughter, she's into arts and crafts stuff, whatever trends are popular like the Stanley cup craze, as well as some clothes, makeup, crochet kit etc. I can honestly say that I didn't want much stuff at that age and didn't ask for anything for bdays and Christmas. There was one thing I wanted, but it was beyond feasible for my family (and many families), which I knew. As an adult...
by phinanciallyfit
Fri Feb 09, 2024 11:48 am
Forum: Personal Consumer Issues
Topic: Birthday gift for kids at 13
Replies: 32
Views: 2617

Re: Birthday gift for kids at 13

I haven't a clue what I got for my 13th birthday. I can't say that any of my bday gifts were memorable. I never wanted anything either. What I do remember, are the special dinners I had ... Not every year, by some years my parents took me out for dinner any where I wanted. Just me. I remember these years. Think about what your kids like and plan a special day for each of them. If you have the funds, this could be pretty price, but could also be more moderately priced. Is it dinner and the theater, a cool museum, a national park, an overnight trip to a cool place? Maybe a camping trip. Focus on what they are interested in and not what you think is cool or wish they'd like. More moderately priced activities: hiking, day at the zoo with a picn...
by phinanciallyfit
Wed Jan 17, 2024 10:45 am
Forum: Personal Finance (Not Investing)
Topic: Best way to be a first-time home buyer if I intend to move in three years?
Replies: 73
Views: 7888

Re: Best way to be a first-time home buyer if I intend to move in three years?

Like others said, if you buy a 'move in ready' home then you will likely lose money selling in 3 years. But maybe you'll end up liking the home and stay in it longer. You can run a few scenarios with different assumptions about later selling price (don't be overly optimistic - things can change) and the typical real estate fees for your area. How handy are you and how much free time do you have in your weeks? Another option is to buy a 'fixer upper' and improve it so that you are more likely to gain equity. However, you'd need to do your due diligence because there are some issues that are very expensive to fix (I wouldn't get anything with foundation issues, for example). Everything comes at a cost -time, money, or both. I'd sit down with ...
by phinanciallyfit
Sun Jan 07, 2024 9:47 pm
Forum: Personal Consumer Issues
Topic: Does a SUV have more utility than a sedan?
Replies: 297
Views: 159793

Re: Does a SUV have more utility than a sedan?

Due to my height, a SUV fits much better for me. It's been many years since I've sat in a car seat that has been comfortable for me. Obviously this isn't an issue for everyone/for average height people. Since you mentioned it, the specifications for many - maybe most - SUVs show less legroom than for sedans. However I'm not sure "legroom" is a standardized measurement? I don't think it is. Many tall people are tall in the body not the legs - and that speaks to headroom. I have one friend who is 6'5". Jeep was about the only vehicle he felt comfortable in. I have a family member who is a few inches above 6 foot, but is more leg than torso (his legs really are long). His household has 2 sedans and I've never heard him complain...
by phinanciallyfit
Wed Jan 03, 2024 11:25 am
Forum: Personal Finance (Not Investing)
Topic: Travel Spend as % of Total
Replies: 19
Views: 2149

Re: Travel Spend as % of Total

We spent about $6000 on travel in 2023 and $5000 in 2022. This is about 5.5% of our annual spending. I say about because much of our travel is via road trips and gas expenses are all lumped into one category rather than split up into daily driving vs trips. We also took a couples only international trip in 2023, but we used points for our flights. This does not include things like skiing, which we can do without travel (1.5 hr trip). We skied 9 days last year. We love the outdoors and have focused on National Parks and nature travel, but I'd like to increase our travel budget for more international travel now that the kids are a bit older (9 and 5). The biggest challenge for us is time - we like the long road trips and it seems it would be ...
by phinanciallyfit
Wed Jan 03, 2024 2:45 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on family budget
Replies: 77
Views: 11118

Re: Thoughts on family budget

Tuition 7,000 84,000 day care / private school for 4 children Can you break this down for us? When does day care cease? Tuition? Mortgage & Prop taxes 5,000 60,000 $600k mortgage @3%, ~$22k prop taxes p.a. With inflation at 4% as of November, I would not be in a hurry to pay this off. Groceries 2,000 24,000 This works out to 10.75 per person per day. Not bad at all! Auto Payment 950 11,400 i) honda odyssey, ii) honda accord, both leased Why lease two vehicles? Do you need two vehicles if one of you takes public transport to from NY? Could you not Uber to the station and save the parking fee and carrying cost of a second vehicle? Could you not pay cash for your vehicles and not have a payment? I wouldn't lease UNLESS I simply had to hav...
by phinanciallyfit
Thu Dec 21, 2023 5:45 am
Forum: Personal Consumer Issues
Topic: Does a SUV have more utility than a sedan?
Replies: 297
Views: 159793

Re: Does a SUV have more utility than a sedan?

We have a sedan. One of the things I really like about it over SUVs is that the contents of the trunk are hidden so I don't have to worry about people lurking and seeing something of interest in the trunk. It is easier to see passed other SUVs in an SUV, but SUVs also have far more blindspots than sedans, so you are less likely to see a pedestrian or bicyclist on the road. Someone mentioned skiing... We can easily put one seat down and fit our skis in the car. The only issue with this emerged when our 2nd child started skiing last year, but until then, we could easily fit our skis. They also sell very accessible roof racks for skis and other equipment, if needed. We rarely have a problem with getting lumber or other house project materials....
by phinanciallyfit
Tue Dec 19, 2023 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Where to put child's income
Replies: 18
Views: 1620

Re: Where to put child's income

I am not aware that this is necessary. If this true, please show me the reference. KlangFool Looks like that answer was already given, but you can read up more on it, the reason for it, and the states that have this law here: https://www.sagaftra.org/membership-benefits/young-performers/coogan-law We are not in California, but our state requires it as well. The production company is required to submit proof that she has a Coogan Trust before they can get the work permit approval from the state. I agree with the notion - to protect kids money so that their parents can't just work them and use all funds for their own use, but I wish an investment account was part of the options. Not all banks offer it and the interest rates are pretty awful....
by phinanciallyfit
Wed Dec 13, 2023 11:11 am
Forum: Personal Finance (Not Investing)
Topic: Where to put child's income
Replies: 18
Views: 1620

Re: Where to put child's income

We opened a Coogan Trust, as required by law, I am not aware that this is necessary. If this true, please show me the reference. KlangFool Looks like that answer was already given, but you can read up more on it, the reason for it, and the states that have this law here: https://www.sagaftra.org/membership-benefits/young-performers/coogan-law We are not in California, but our state requires it as well. The production company is required to submit proof that she has a Coogan Trust before they can get the work permit approval from the state. I agree with the notion - to protect kids money so that their parents can't just work them and use all funds for their own use, but I wish an investment account was part of the options. Not all banks off...
by phinanciallyfit
Wed Dec 13, 2023 11:06 am
Forum: Personal Finance (Not Investing)
Topic: Where to put child's income
Replies: 18
Views: 1620

Re: Where to put child's income

My child (age 5) is going to have some income through a child acting thing. I don't expect that we will pursue this much more than this random opportunity, so Im trying to balance easy and putting the money in a place that is valuable to her in the future. I don't know how much money we are talking (explanations have been vague), but it will certainly be more than $1000. We opened a Coogan Trust, as required by law, but I would like help deciding what to do with the balance that does not need to be deposited to the Coogan. Does a roth in a child's name count in FAFSA calculations? We probably won't be eligible for financial aid anyway, but things can change and I want to make sure to understand all the choices and implications. I'm trying ...
by phinanciallyfit
Sat Dec 09, 2023 4:42 pm
Forum: Personal Finance (Not Investing)
Topic: Where to put child's income
Replies: 18
Views: 1620

Re: Where to put child's income

My child (age 5) is going to have some income through a child acting thing. I don't expect that we will pursue this much more than this random opportunity, so Im trying to balance easy and putting the money in a place that is valuable to her in the future. I don't know how much money we are talking (explanations have been vague), but it will certainly be more than $1000. We opened a Coogan Trust, as required by law, but I would like help deciding what to do with the balance that does not need to be deposited to the Coogan. Does a roth in a child's name count in FAFSA calculations? We probably won't be eligible for financial aid anyway, but things can change and I want to make sure to understand all the choices and implications. I'm trying ...
by phinanciallyfit
Sat Dec 09, 2023 12:23 pm
Forum: Personal Finance (Not Investing)
Topic: Where to put child's income
Replies: 18
Views: 1620

Re: Where to put child's income

We opened a Coogan Trust, as required by law, I am not aware that this is necessary. If this true, please show me the reference. KlangFool Looks like that answer was already given, but you can read up more on it, the reason for it, and the states that have this law here: https://www.sagaftra.org/membership-benefits/young-performers/coogan-law We are not in California, but our state requires it as well. The production company is required to submit proof that she has a Coogan Trust before they can get the work permit approval from the state. I agree with the notion - to protect kids money so that their parents can't just work them and use all funds for their own use, but I wish an investment account was part of the options. Not all banks off...
by phinanciallyfit
Sat Dec 09, 2023 12:19 pm
Forum: Personal Finance (Not Investing)
Topic: Where to put child's income
Replies: 18
Views: 1620

Re: Where to put child's income

Thank you. That was what I was leaning towards, but this has all moved fast and I wanted to make sure I didn't miss anything.
by phinanciallyfit
Sat Dec 09, 2023 11:32 am
Forum: Personal Finance (Not Investing)
Topic: Where to put child's income
Replies: 18
Views: 1620

Where to put child's income

My child (age 5) is going to have some income through a child acting thing. I don't expect that we will pursue this much more than this random opportunity, so Im trying to balance easy and putting the money in a place that is valuable to her in the future. I don't know how much money we are talking (explanations have been vague), but it will certainly be more than $1000. We opened a Coogan Trust, as required by law, but I would like help deciding what to do with the balance that does not need to be deposited to the Coogan. Does a roth in a child's name count in FAFSA calculations? We probably won't be eligible for financial aid anyway, but things can change and I want to make sure to understand all the choices and implications. I'm trying t...
by phinanciallyfit
Sat Oct 28, 2023 1:33 pm
Forum: Personal Finance (Not Investing)
Topic: Employer healthcare plan for pregnancy
Replies: 17
Views: 1527

Re: Employer healthcare plan for pregnancy

That is an incredibly low premium for a PPO. I would go with that hands down. It is hard to predict how things will go. About 35% of childbirths are via C-section, so it could even cost more than you estimate. FWIW, I used a HDHP for my second pregnancy, but the numbers were completely different. My premium would have been about $700/mo through my employer (the . My husband's employer offered a $0 premium HDHP with a $7k oopm, so I would have paid more just in premiums with my plan. I ended up having a C-section and many extra ultrasounds (due to an issue), but even with these extra expenses it worked out. I didn't read through the comments, but I recall there being some issue with on person in a marriage contributing to a HSA when the othe...
by phinanciallyfit
Thu Oct 05, 2023 1:21 pm
Forum: Personal Consumer Issues
Topic: Italian Citizenship by Ancestor
Replies: 24
Views: 3679

Re: Italian Citizenship by Ancestor

I looked into it briefly, but I think I determined that if the immigrating ancestor became a US citizen, then they usually had to give up their Italian citizenship (at least in the earlier part of the last century (I.e. 1920s-ish) ... if this happened, then you wouldn't be eligible now. For those going through the process, have you found this to be the case?
by phinanciallyfit
Fri Sep 01, 2023 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: Advice on student loan repayment options
Replies: 93
Views: 8537

Re: Advice on student loan repayment options

I'll be honest, I stopped reading at some point, but... Some one suggested the 25 graduated repayment and then PSLF. No...this payment plan is not eligible for PSLF. Apply for the new SAVER plan. You probably will still have fairly large payments, but any interest not paid is waived. If you have it in your budget to contribute more to retirement, then that may help lower your income used to determine payments and thus lower your payments. Did you work in public service and make payments to student loans when working? If so, consider consolidating and verify that employment so it counts towards your PSLF count. This needs to be done before the end of this calendar year for those payments to count. I would try for the NIH loan, make the SAVER...
by phinanciallyfit
Wed Aug 30, 2023 9:31 pm
Forum: Personal Consumer Issues
Topic: When do you have your HVAC ducts cleaned?
Replies: 42
Views: 4365

Re: When do you have you HVAC ducts cleaned?

We just got ours cleaned and oh my! We've lived in our house 5 years and never did it before. I'm guessing the prior owners didn't either. There was so much trash in the ducts. Candy wrappers that appear to be from the early-eighties, pieces of wood, liquor bottles. Anyway, wish we did it earlier l. I'm hoping this makes our HVAC a bit more efficient.
by phinanciallyfit
Wed Aug 30, 2023 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: Bogleheads w/ Student Loans -- What's Your Plan w/ the Restart?
Replies: 80
Views: 8551

Re: Bogleheads w/ Student Loans -- What's Your Plan w/ the Restart?

I have the SAVE payment included in my expenses spreadsheet for October and it will be automatically deducted from my account because I am scheduled for auto pay. I will submit my employment certification in October, as I always do in the fall. I expect to be eligible for PSLF next May, so I'll make payments until that is processed and then spend sometime thinking about what it is I really want to do once I'm not constrained by the plans and the rules of PSLF. I look forward to that day.
by phinanciallyfit
Tue Aug 22, 2023 11:50 am
Forum: Personal Investments
Topic: Took dream job and essentially in Retirement (withdrawing) while working (accumulating)
Replies: 93
Views: 12257

Re: Took dream job and essentially in Retirement (withdrawing) while working (accumulating)

Congratulations on finding a job you love and still having a family income that is higher than the majority of American families. That is awesome and I do think it is a great way to spend your life. $15k on housing near your place of employment suggests that you are not physically at home much of the time. Is it accurate to say that your wife is both the primary earner AND the majority of day-to-day tasks fall on her? If this is the case, I would expect you to be making substantial sacrifices to help cut expenses and tr to make her life easier. Ultimately, I agree with others that you need to cut expenses. It can be hard, but we can't always have it all. You can't live like you make $350k while making $150k. Think hard on where to cut expen...
by phinanciallyfit
Thu Aug 10, 2023 8:30 am
Forum: Personal Finance (Not Investing)
Topic: Does Everyone need a local Bank?
Replies: 69
Views: 6600

Re: Does Everyone need a local Bank?

I have not had a local bank since 2012 and have not had a problem. I got tired of opening a new bank each time I moved as I knew I'd have a few more moves in the years to come. I switched to Ally and have been with them since. There were only 2 situations where we were not able to do something we wanted to do because of it. 1. I wanted to get $2 bills for the Tooth Fairy to leave for my child's teeth and I wasn't sure where to go. I never tried going to a local bank to see if they would have exchanged some cash for them even them I'm not their customer, so this may not have actually been an issue. 2. My husband wants to cash in some old savings bonds. We ended up cashing them against my mom's account at a local bank. We probably could have ...
by phinanciallyfit
Tue Aug 08, 2023 11:13 am
Forum: Personal Finance (Not Investing)
Topic: Can I Go "Part Time" in Three Years to Help Take Care of My Kids?
Replies: 33
Views: 4375

Re: Can I Go "Part Time" in Three Years to Help Take Care of My Kids?

Unlike many on this forum, I think your goal is a good one. My spouse and I have often discussed how us both working part-time would be the ideal scenario. Unfortunately, our system that ties health insurance to work makes these arrangements challenging, though the ACA marketplace may help with that. However, I think there is more details you need to think through. If I were in your shoes, I would want my income to cover all expected expenses including medical and mortgage and any necessary savings. This allows the 457b funds to be available in emergency situations such as major unexpected expenses or loss of jobs in the future. I'm not sure of the nature of your son's special needs, but I have a coworker whose income is higher than your pr...
by phinanciallyfit
Sat Aug 05, 2023 1:40 pm
Forum: Personal Consumer Issues
Topic: Best Purchase < $1000?
Replies: 231
Views: 28752

Re: Best Purchase < $1000?

Others have already said it, but our Vitamix. We have smoothies (more like sorbet) from frozen fruit almost every afternoon from May through October and then it is great for soups in the winter and pesto from the basil in our garden. Definitely a great purchase.

Also, our chest freezer. And the Nugget for our kids.
by phinanciallyfit
Wed Aug 02, 2023 3:03 pm
Forum: Personal Consumer Issues
Topic: Sports with the least commitments for kids?
Replies: 149
Views: 11472

Re: Sports with the least commitments for kids?

Kinda sad…you want to “put” your kids in a sport; and, you don’t want it to be a real commitment. Very disrespectful to the other kids. You probably don't have elementary age kids. It is sad, but almost all sports I've seen are pushing kids to specialize at a young age. My niece quit gymnastics because the next level up required her to go 3x a week at age 6! My friends kid was doing soccer and then it became 4x a week at age 7/8 (2nd grade). Another child I know was doing ice skating and anything beyond beginner level was 4-5 times a week pus dance class. My nephew quit hockey in elementary school because the commitment was too much for his parents. The only swim opportunity I could find for my child that wasn't when we were at school was ...
by phinanciallyfit
Thu Jun 08, 2023 8:42 am
Forum: Personal Investments
Topic: Baby on the way... Ideas for financial planning?
Replies: 42
Views: 3896

Re: Baby on the way... Ideas for financial planning?

Not to beat a dead horse, but... My spouse and I have very flexible jobs too. Despite this, getting interrupted at random intervals is extremely draining and, because you never know when it will happen, it is hard to determine when is a good time to work on those tasks that require stretches of focus. If most of your tasks can be done in small chunks of time (i.e. not things that require deep thought and concentration) working with the baby might be possible, but if you need focus, pick a different option. My first child did not sleep. It took 30 minutes to get her to take a 20 minute nap (she still needs less sleep than other kids her age, but now it is convenient). She didn't sleep the whole night through until she was 3yo (turns out she ...
by phinanciallyfit
Wed Jun 07, 2023 12:55 pm
Forum: Personal Consumer Issues
Topic: Best cities with lots of outdoor/hiking activities and good year round weather
Replies: 248
Views: 25322

Re: Best cities with lots of outdoor/hiking activities and good year round weather

OP, I may be late to the party, but my family went through a very similar decision making process almost exactly 2 years ago. Our final 3 contenders were Denver, Seattle, and Asheville. We ruled out Denver because of water concerns and air quality issues (apparently very bad ozone due to high altitude and extremely intense sun). And, while "average" weather there is pretty good, it has pretty significant extremes in both winter (blizzards) and summer (days near or above 100 deg). We ruled out Asheville because of schools. The school quality and selection just wasn't what we wanted. If we did not have school aged kids, Asheville probably would have won. We ended up in the Seattle area and absolutely LOVE it. Downsides of this area...
by phinanciallyfit
Tue Jun 06, 2023 4:18 pm
Forum: Personal Consumer Issues
Topic: Best cities with lots of outdoor/hiking activities and good year round weather
Replies: 248
Views: 25322

Re: Best cities with lots of outdoor/hiking activities and good year round weather

2 questions, and I mean them to be genuine, not rhetorical (I do not live in the USA): 1. NM has a very high crime rate? One of the highest among US states? Is this of a concern? 2. Wildfires have become a serious issue in recent years? Does this impact air quality and/or general feeling of safety? (Wildfires would be a reason I think northern California is less attractive as a place to live than it once was. Also I believe serious problems with drug abuse). Generally with more elevated mountain areas I think people should be mindful of altitude issues. Some people just cannot adjust, long term. I don't think that is predictable in advance. I have found 2000m (6000') not too bad, the time we went to 4000m (12k feet) in the Andes I really w...
by phinanciallyfit
Tue Jun 06, 2023 1:09 pm
Forum: Personal Consumer Issues
Topic: Best cities with lots of outdoor/hiking activities and good year round weather
Replies: 248
Views: 25322

Re: Best cities with lots of outdoor/hiking activities and good year round weather

2 questions, and I mean them to be genuine, not rhetorical (I do not live in the USA): 1. NM has a very high crime rate? One of the highest among US states? Is this of a concern? 2. Wildfires have become a serious issue in recent years? Does this impact air quality and/or general feeling of safety? (Wildfires would be a reason I think northern California is less attractive as a place to live than it once was. Also I believe serious problems with drug abuse). Generally with more elevated mountain areas I think people should be mindful of altitude issues. Some people just cannot adjust, long term. I don't think that is predictable in advance. I have found 2000m (6000') not too bad, the time we went to 4000m (12k feet) in the Andes I really w...
by phinanciallyfit
Mon May 08, 2023 6:58 pm
Forum: Personal Consumer Issues
Topic: Where do you buy your pet's food?
Replies: 111
Views: 9493

Re: Where do you buy your pet's food?

GT99 wrote: Sun May 07, 2023 8:06 am Costco Kirkland Signature. $50 or so a $35 lb bag and it's as good as the high end stuff. I had done some research when my dogs were puppies (they're 11 now) and found a study comparing dog foods. Kirkland signature rated as high as stuff that cost twice as much.

Both my dogs have been on it pretty much their entire lives and are in great health.
I wish it were high end quality l! We used to buy Kirkland's brand, but my dog ended up with large bald patches (several approx 4 inch diameter bald patches). The vet said it was likely due to low quality food, so we changed food brands, her hair grew back, and we never had the issue again.
by phinanciallyfit
Thu Apr 27, 2023 11:48 am
Forum: Personal Finance (Not Investing)
Topic: Treating children financially equal
Replies: 259
Views: 21623

Re: Treating children financially equal

I tend to think of school as a different ballgame than other large financial help (like down payments, etc.). It is my perception that this is the predominant view on this board - I don't agree. Funds used for school are the same mathematically and there's no guarantee it'll have any pay off. In fact, I'm probably more inclined to help them with a home down payment or annual gifts to throw into retirement rather than offer to pay more for a more expensive school or for grad school. Of course it depends if the more expensive school or grad program has a very clear path to increased future opportunities; which certainly is not always the case. I'd play it by ear, based on the needs of each child as they come. "Fair" is not a concer...
by phinanciallyfit
Thu Apr 27, 2023 10:27 am
Forum: Personal Finance (Not Investing)
Topic: Treating children financially equal
Replies: 259
Views: 21623

Re: Treating children financially equal

I tend to think of school as a different ballgame than other large financial help (like down payments, etc.). I'm assuming both kids have the opportunity to go to graduate school and (at the moment) only one is choosing it. As it stands, both are given equal opportunities.

If you suddenly give the adult kid who doesn't go to school $130k because they didn't go, that may seem seriously unfair to the one who did go to school - almost like a punishment for going to school. So if this is the plan, it should be clear before the other has their school paid for so that each child can make an informed decision about what they wish to do.
by phinanciallyfit
Fri Apr 21, 2023 9:03 am
Forum: Personal Consumer Issues
Topic: Campervan, campershell/truck, camper trailers, etc
Replies: 97
Views: 9619

Re: Campervan, campershell/truck, camper trailers, etc

Back in 2020, we bought a new SUV with the plans of getting a trailer. We ended up hating it, so we sold it (thank you, outrageous used car prices). We then had a few options - get another SUV/truck and a trailer, continue tent camping (with a civic, 2 kids in carseats, and medium/large dogs (we did do this a few times successfully, but the civic is not ideal for it), or get some sort of an RV. Pop ups are definitely the cheapest route, but if you live in areas prone to thunderstorms, please keep in mind that they provide no more protection from a lightening strike than a tent. An RV that is not a campervan/class B does not provide much protection to passengers in the even of an accident (class Cs provide this protection to those in the ca...
by phinanciallyfit
Fri Apr 21, 2023 8:54 am
Forum: Personal Finance (Not Investing)
Topic: Financially wise to put a down payment on a car?
Replies: 25
Views: 4294

Re: Financially wise to put a down payment on a car?

Just before the pandemic, we bought a new vehicle and opted to put the minimum down payment we could (I think it was $500). We financed the rest for 3 years at a rate under 1%. We put the remaining down payment in a few CDs (split between 6mo, 12mo, and 18mo terms) that earned around 2%. Our monthly payments were very high, but they fit in our budget and the cash we had would become available in fairly short intervals if it was need for any reason. If not needed, it could be reinvested.

If you are able to get a low interest rate and will save the remaining down payment at the higher rates we are seeing now, I'd consider doing so. However, I would not take out a larger loan than necessary with a interest rate that is high.
by phinanciallyfit
Thu Apr 06, 2023 10:56 am
Forum: Personal Consumer Issues
Topic: Campervan, campershell/truck, camper trailers, etc
Replies: 97
Views: 9619

Re: Campervan, campershell/truck, camper trailers, etc

Back in 2020, we bought a new SUV with the plans of getting a trailer. We ended up hating it, so we sold it (thank you, outrageous used car prices). We then had a few options - get another SUV/truck and a trailer, continue tent camping (with a civic, 2 kids in carseats, and medium/large dogs (we did do this a few times successfully, but the civic is not ideal for it), or get some sort of an RV. Pop ups are definitely the cheapest route, but if you live in areas prone to thunderstorms, please keep in mind that they provide no more protection from a lightening strike than a tent. An RV that is not a campervan/class B does not provide much protection to passengers in the even of an accident (class Cs provide this protection to those in the cab...
by phinanciallyfit
Wed Apr 05, 2023 1:19 pm
Forum: Personal Consumer Issues
Topic: Global Entry Interview Challenge
Replies: 106
Views: 16235

Re: Global Entry Interview Challenge

Have you checked the airports where you have planned domestic travel? I'm guessing there are a lot of people interested in this in Tampa, but other airports are less busy. I logged in yesterday to schedule my interview and there was availability on April 11th and then they were completely open in May. I live by a much smaller airport (though technically the airport is an international airport, it only handles flights to a few countries -maybe only Mexico, not sure).
by phinanciallyfit
Tue Apr 04, 2023 9:34 am
Forum: Personal Finance (Not Investing)
Topic: Best way to track expenses? Quicken or …?
Replies: 117
Views: 10213

Re: Best way to track expenses? Quicken or …?

I just download all my spending from amex (and other cards) at the end of the year, then sort by category and/or description. At this point it is fairly easy to bulk change the categories to categories that work for me (i.e. all Costco purchases get categorized as Costco). I then do a pivot table and see totals for the year.

This does not take long at all. I just review spending and see if there are any areas where we spent more than I'd expected. I touch base with my spouse about our spending and assess if we are happy with where we are or want to be mindful of certain areas. A once a year review may not work for everyone, but it works for us.
by phinanciallyfit
Fri Mar 31, 2023 10:43 am
Forum: Personal Consumer Issues
Topic: Is Costco meat worth it?
Replies: 79
Views: 16353

Re: Is Costco meat worth it?

I find that Costco's price per pound for the meats we buy (typically organic chicken, organic ground turkey, wild caught salmon and wild caught cod) are consistently cheaper than the grocery stores we visit. It may be that in a single random week a store has a deal that is better (I haven't actually seen it, but it is possible), but I no longer check regularly. Some people have time to price compare all the time, but we prefer to just go with what is cheaper most of the time. I like that the chicken comes in a 3 pack, so it is easy to freeze the packs that we aren't going to eat quickly. We go about once every 2-3 weeks. Eggs, dairy products and certain fruits/veggies (not all) also tend to be much cheaper at Costco. We know which types of ...
by phinanciallyfit
Tue Mar 21, 2023 3:03 pm
Forum: Personal Consumer Issues
Topic: Best place to get a hitch installed?
Replies: 34
Views: 2479

Re: Best place to get a hitch installed?

Is your vehicle in your vehicle? And is it under warranty? It might be worthwhile to have it install the way by the dealership even though this is often more expensive. We had a hitch installed on a new vehicle a couple years ago largely for the purposes of towing a small trailer. We had the dealership install it. The first time we went to hook up a trailer to the hitch, the entire harness system of our 6-month-old vehicle was fried. This is a very major fix on a car. I'm not sure if the dealership made an error when installing the hitch or if there was a problem with the vehicle itself that resulted in our problem, but because the hitch was installed by the dealership replacing the harness system was covered under our vehicles warranty. Th...
by phinanciallyfit
Thu Feb 23, 2023 11:05 am
Forum: Personal Finance (Not Investing)
Topic: At what age does it go downhill
Replies: 190
Views: 29256

Re: At what age does it go downhill

Huge variability already, which isn't so surprising. I'm turning 40 soon, so not so old. I can still do every activity (and to the same or greater extent) that I've ever done with one exception.... I can no longer do a backbend from standing. I tried about 5 years ago and was mildly successful in that I did do it without falling, but oh how my back hurt afterwards. I'm also less flexible, but I used to be extremely flexible, so this may actually be a good thing. Doing stretches in PE, for sports, or a yoga class never had any impact on me. There was no stretch that I actually felt. Now I feel them, but can still fairly easily touch my toes (or go passed them) with my legs straight and other things like that. My mom is hitting 65 and I've no...
by phinanciallyfit
Tue Feb 14, 2023 7:42 am
Forum: Personal Finance (Not Investing)
Topic: Spouse (Age 37) Going Back to University
Replies: 196
Views: 17347

Re: Spouse (Age 37) Going Back to University

The need to feel like you are doing something meaningful and valuable is a strong one. And, while yes, raising kids is meaningful, it can also be mind numbing. Many people also want an identity and role outside of being a mom or parent. You may want to reflect on how you would cope with being a stay-at-home parent (try not to make gendered assumptions, just reflect yourself without glorifying it). I would support her goal to find a career and return to school, but I would start with encouraging her to really explore what she is interested in and career paths that may be of interest to her. Maybe take some of those career interest tests or talk to a career coach. Make sure she knows that you support her goals, but that you want her to have t...
by phinanciallyfit
Mon Feb 06, 2023 9:31 am
Forum: Personal Finance (Not Investing)
Topic: Books/ideas to teach 5 year old about money
Replies: 35
Views: 2942

Re: Books/ideas to teach 5 year old about money

At that age, we wanted to teach our kids 1) that families help each other and everyone needs to contribute to the household and 2) to understand that money needs to be earned and can only be spent once. More complex money concepts are more appropriate later and, I have found, often just come up naturally. (My oldest is 8 and we have had many conversations about compound interest, savings, stocks, etc.) What we have done is establish a set of chores that we expect of each child that both reflect taking care of their own things (i.e. cleaning their rooms, helping fold laundry, putting clothes in hamper, clearing their meal spots, etc.) and contribute to home maintenance (i.e. dusting, setting the table, vacuuming, etc.) The number of chores a...
by phinanciallyfit
Mon Jan 30, 2023 12:12 pm
Forum: Personal Investments
Topic: Big earner/big spender thoughts on FIRE?
Replies: 47
Views: 8698

Re: Big earner/big spender thoughts on FIRE?

Most of the time, these questions really come down to values. Could you stop working with a NW of $10 million? Of course! Would I? Yes. Should you? I don't know. What do you value most? Time with family (even if inexpensive), Fancy cars, private schools, many paid extracurriculars for kids vs more unstructured time, luxury/pampered travel or is it more about seeing other places and different cultures (which does not have to be very expensive), do you highly value eating out, what about designer clothing? If you could live anywhere, would it be in your current city? Your kids are young enough that moving really would not be too big a deal for them, but you and your wife may not be interested in doing so. You likely could move to somewhere le...
by phinanciallyfit
Wed Jan 25, 2023 9:17 am
Forum: Personal Consumer Issues
Topic: 3 Car seats - Realistic options
Replies: 9
Views: 961

Re: 3 Car seats - Realistic options

CorradoJr wrote: Wed Jan 25, 2023 8:20 am If spacing is an issue, you might need to look into narrower car seats like the Clek Foonf.

Perhaps check “the car seat lady.com” for additional ideas?
This is exactly what I was going to say, but I'll just reiterate that 3 clerk foonf will definitely fit (3 foonfs fit in a rav4). The diono radian and nuna rava may also (not certain, but they are narrow seats), and the car seat lady has a list and even tested them in different vehicles. https://thecarseatlady.com/vehicles/3-across/
by phinanciallyfit
Fri Jan 20, 2023 12:49 pm
Forum: Personal Consumer Issues
Topic: Colorado National Park Vacation in Summer
Replies: 56
Views: 5953

Re: Colorado National Park Vacation in Summer

I can't thank all the folks enough who've taken the time to respond to this thread with tips and ideas. My wife and I have A TON of things to research and look into, and safe to say we'll likely end up doing some of the things that folks have suggested here. I would not do Sand Dunes. The sand will be hot by 8 or 9am, not just the afternoon. You really only have dawn and dusk to enjoy it. There are several other great National Parks in Colorado. Both Mesa Verdes and Black Canyons of the Gunnison are wonderful, but I'd recommend Mesa Verde as it is not just about the beautiful landscape, but also the incredible structures (cliff dwellings) of the ancestral Puebloans. It is still hot, but much more manageable than Sand Dunes. Given that you ...
by phinanciallyfit
Thu Jan 19, 2023 8:35 am
Forum: Personal Consumer Issues
Topic: Colorado National Park Vacation in Summer
Replies: 56
Views: 5953

Re: Colorado National Park Vacation in Summer

I would not do Sand Dunes. The sand will be hot by 8 or 9am, not just the afternoon. You really only have dawn and dusk to enjoy it. There are several other great National Parks in Colorado. Both Mesa Verdes and Black Canyons of the Gunnison are wonderful, but I'd recommend Mesa Verde as it is not just about the beautiful landscape, but also the incredible structures (cliff dwellings) of the ancestral Puebloans. It is still hot, but much more manageable than Sand Dunes. Given that you are interested in the railroad, if you go the route of Mesa Verde, you could easily check out the Durango-Silverton Railroad, which is lovely. They have a nice Railroad Museum there as well Mesa Verde is ....a.....LONG.... way to go....and the OP did say that...
by phinanciallyfit
Thu Jan 19, 2023 8:28 am
Forum: Personal Consumer Issues
Topic: Good books on relearning math basics
Replies: 17
Views: 1769

Re: Good books on relearning math basics

My child's school offers curriculum classes so parents are better able to support their child's learning in a manner consistent with the way the school teaches various topics. Their math curriculum works on a fundamental understanding of math concepts, rather than just being able to do the algorithm (which they teach after the conceptual understanding is taught), so it is very helpful as a parent to see the whole picture rather than just the bits and pieces as they go through the curriculum. It may be worthwhile to see if something similar could be organized at your kids' school as other families may also benefit. Without the bigger picture, it can be tempting as a parent to think (or say) the approach is weird or different than our experie...
by phinanciallyfit
Thu Jan 19, 2023 7:27 am
Forum: Investing - Theory, News & General
Topic: Your Personal Financial Plan
Replies: 43
Views: 4926

Re: Your Personal Financial Plan

I consider myself a lifelong learner, and that is especially true when it comes to financial topics. I was lucky to be born with a seemingly innate desire to save money and spend less, but I did not have the benefit of parents who knew much about finances nor were they particularly good with money (still aren't). Consequently, there are topics on which I do not have a a strong enough understanding to base my IPS. Bonds are one of these topics. Right now, that isn't critical because I do not have the extra funds to buy TIPS or I-bonds (I just have a total bond mutual fund in my tax-deferred accounts, along with other funds of course). Yes, I've read the wiki and "Boglehead's Guide to Investing," but like many topics, more exposure ...
by phinanciallyfit
Tue Jan 17, 2023 9:20 am
Forum: Personal Consumer Issues
Topic: To the Posters w/ Children That Spend Less Than $800/Month on Groceries -- HOW?!?!
Replies: 192
Views: 17447

Re: To the Posters w/ Children That Spend Less Than $800/Month on Groceries -- HOW?!?!

I don't think I saw a note about how old your kids are. I imagine that makes quite a difference. I was just talking to my aunt and she commented about how she feels like she has won the lottery in terms of how much less she spends on groceries now that her second child (who is 6'4") is in college away from home. We have two younger kids (one in elementary school and the other in Pre-K) and we spend about $800 a month. And this seems outrageous to me (about 6 years ago we had 1 toddler and the 2 adults and we solidly only spent $50-60 a week). We are in a better financial place now and we don't really think about it out spending on food too much. We eat sockeye salmon or pacific cod once or twice a week, buy organic milk, organic chicke...
by phinanciallyfit
Tue Jan 17, 2023 8:46 am
Forum: Personal Consumer Issues
Topic: Colorado National Park Vacation in Summer
Replies: 56
Views: 5953

Re: Colorado National Park Vacation in Summer

I would not do Sand Dunes. The sand will be hot by 8 or 9am, not just the afternoon. You really only have dawn and dusk to enjoy it.

There are several other great National Parks in Colorado. Both Mesa Verdes and Black Canyons of the Gunnison are wonderful, but I'd recommend Mesa Verde as it is not just about the beautiful landscape, but also the incredible structures (cliff dwellings) of the ancestral Puebloans. It is still hot, but much more manageable than Sand Dunes. Given that you are interested in the railroad, if you go the route of Mesa Verde, you could easily check out the Durango-Silverton Railroad, which is lovely. They have a nice Railroad Museum there as well