Search found 11053 matches

by delamer
Thu Apr 22, 2021 2:26 pm
Forum: Personal Investments
Topic: Helping an elderly MIL consolidate CC debt?
Replies: 11
Views: 853

Re: Helping an elderly MIL consolidate CC debt?

This organization is recommended by many personal finance experts: https://www.nfcc.org/
by delamer
Thu Apr 22, 2021 1:35 pm
Forum: Personal Finance (Not Investing)
Topic: What would you tell 30 year old you?
Replies: 24
Views: 1507

Re: What would you tell 30 year old you?

Deferred gratification to prepare for your future is important, but today is the only guarantee you have.
by delamer
Thu Apr 22, 2021 1:22 pm
Forum: Personal Investments
Topic: Any strategies to ensure children keep Roth until retirement
Replies: 42
Views: 2453

Re: Any strategies to ensure children keep Roth until retirement

Gifted money is not earned income and can't be contributed to an IRA. Agreed. The matched money would not go to the Roth. I should have clarified that in the OP. The kid would contribute their earned income to the Roth. I would match that contribution and it can not go to the Roth. Really nice deal...
by delamer
Thu Apr 22, 2021 12:57 pm
Forum: Personal Investments
Topic: Any strategies to ensure children keep Roth until retirement
Replies: 42
Views: 2453

Re: Any strategies to ensure children keep Roth until retirement

Gifted money is not earned income and can't be contributed to an IRA. As long as they earn as much or more than they contribute, it matters not one iota the source of the actual dollar put into the account. It does matter. Gifted money is not earned income and can't be contributed to an IRA. She ca...
by delamer
Thu Apr 22, 2021 12:31 pm
Forum: Personal Finance (Not Investing)
Topic: Unicorns pay no federal tax!
Replies: 57
Views: 5972

Re: Unicorns pay no federal tax!

We have found it easy to have no federal liability since capital gains have figured prominently in our income stream. Our state taxes LTCG as income so this unicorn keeps having state taxes. The techniques surrounding this concept have piqued my interest. I am coming to the end of 40 years as an em...
by delamer
Thu Apr 22, 2021 8:27 am
Forum: Personal Finance (Not Investing)
Topic: Need Cash for Divorce Payout
Replies: 106
Views: 7145

Re: Need Cash for Divorce Payout

Any competent divorce lawyer would word the lump sum alimony agreement receipt as once and final. Of course, child support can be assessed, re-assessed, changed generally at any time and certainly within fixed, relatively short intervals. I don't know if my attorney is competent but at least he's e...
by delamer
Thu Apr 22, 2021 8:13 am
Forum: Personal Finance (Not Investing)
Topic: Unicorns pay no federal tax!
Replies: 57
Views: 5972

Re: Unicorns pay no federal tax!

What do you mean by “higher-than-expected spending levels?” Expected relative to what? Higher than expected for paying no federal tax. IOW, you don't expect someone making 15K per yr to be paying federal tax. But it's a surprise (at least to me) to find someone making 150K and still not paying any....
by delamer
Wed Apr 21, 2021 3:05 pm
Forum: Personal Finance (Not Investing)
Topic: Unicorns pay no federal tax!
Replies: 57
Views: 5972

Re: Unicorns pay no federal tax!

What do you mean by “higher-than-expected spending levels?”

Expected relative to what?
by delamer
Wed Apr 21, 2021 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Need Cash for Divorce Payout
Replies: 106
Views: 7145

Re: Need Cash for Divorce Payout

If you do a lumpsum payout and she miss manages her finances, can she come back and request more money from you later? Just curious if there would be any benefit in providing the regular allowance vs the lumpsum? IANAL, but I would say definitely not. If there are children involved, there are worka...
by delamer
Wed Apr 21, 2021 2:52 pm
Forum: Personal Finance (Not Investing)
Topic: Need Cash for Divorce Payout
Replies: 106
Views: 7145

Re: Need Cash for Divorce Payout

Set up the HELOC, but use up the emergency fund before you draw on the HELOC. You might have time to rebuild the EF before you need it. If emergency hits, then you use the HELOC. Ask your parents -- if your EF covers the $50k, I'd tell them now what the situation is and ask if they'd be backup if y...
by delamer
Wed Apr 21, 2021 1:03 pm
Forum: Personal Finance (Not Investing)
Topic: Need Cash for Divorce Payout
Replies: 106
Views: 7145

Re: Need Cash for Divorce Payout

Compare the costs of the IRA withdrawal vs the best deal you can find on a HELOC. Is selling the home then downsizing an option? j :D Well it's an option but I love the house and the property, so it's not a good option for me. Cash out refi? Can she wait that long. If you both are on the mortgage, ...
by delamer
Wed Apr 21, 2021 1:01 pm
Forum: Personal Consumer Issues
Topic: Window blinds & shades
Replies: 9
Views: 638

Re: Window blinds & shades

We used blinds.com for cellular shades. We bought their house brand, and the quality is fine.
by delamer
Wed Apr 21, 2021 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Job Offer - Company won't put bonus info in offer letter or in writing
Replies: 39
Views: 3853

Re: Job Offer - Company won't put bonus info in offer letter or in writing

If the job isn’t attractive without a 10% bonus, then walk away.

Bonuses are, by definition, not guaranteed.

Would you be OK if you took the job and a year from now nobody in the company got a bonus?
by delamer
Wed Apr 21, 2021 12:55 pm
Forum: Investing - Theory, News & General
Topic: How to purchase stocks you plan to hold for a decade
Replies: 20
Views: 1127

Re: How to purchase stocks you plan to hold for a decade

Why on earth would you be buying at all if you think that it will be worth less in 10 years?! What you really meant — I guess — was that the price might fall below the current level at some point during the next 10 years. You don’t know if, or more importantly, when that will happen. In the meantime...
by delamer
Wed Apr 21, 2021 12:44 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

UnicornLand!!! :mrgreen: I'm eager to move to UnicornLand. I just don't know if I ever will be able to. But I can dream about the Rainbow Connection. I would much rather be paying 40% taxes on my income than living in unicorn land. Having done both it is much better to be making 1 million/year and ...
by delamer
Wed Apr 21, 2021 8:34 am
Forum: Investing - Theory, News & General
Topic: Ineligible but received stimulus check:
Replies: 6
Views: 774

Re: Ineligible but received stimulus check:

If you aren’t eligible and get a check, it won’t increase your tax liability when you file your 2021 taxes?
by delamer
Wed Apr 21, 2021 8:26 am
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

Can't live in an S&P 500 fund. And since no one can predict the market, there's nothing that says the S&P can't go bear for a lengthy time. On the other hand, I can live in this paid off home for the rest of my life and not care about its value whatsoever. Housing is a basic need, and when ...
by delamer
Tue Apr 20, 2021 9:11 pm
Forum: Personal Investments
Topic: TSP Questions
Replies: 15
Views: 1466

Re: TSP Questions

As Jerry55 said, we need more information to give you good advice.

The most important data point is how far you are away from drawing down the TSP to pay your expenses.
by delamer
Tue Apr 20, 2021 1:37 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

Can't live in an S&P 500 fund. And since no one can predict the market, there's nothing that says the S&P can't go bear for a lengthy time. On the other hand, I can live in this paid off home for the rest of my life and not care about its value whatsoever. Housing is a basic need, and when ...
by delamer
Tue Apr 20, 2021 1:27 pm
Forum: Personal Finance (Not Investing)
Topic: I have FEHB. Do I need Medicare Part B? The New Answer is Yes!
Replies: 24
Views: 2089

Re: I have FEHB. Do I need Medicare Part B? The New Answer is Yes!

Based on the information in the links (in the original post), it looks like the Part B premium reimbursement is for only one person. So if a couple is getting coverage, they’d still be on the hook for one Part B premium with the UH retiree plan. Can anyone confirm this? I’m two years into Medicare ...
by delamer
Tue Apr 20, 2021 9:44 am
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

I have read every post in this thread and still can't find myself leaning one way or another. We just refinanced our mortgage to 2.88% (yay). Still, like so many others, on one hand I do not like debt; on the other I know the long term probability play is to invest in a taxable brokerage. My hybrid...
by delamer
Tue Apr 20, 2021 9:30 am
Forum: Personal Finance (Not Investing)
Topic: I have FEHB. Do I need Medicare Part B? The New Answer is Yes!
Replies: 24
Views: 2089

Re: I have FEHB. Do I need Medicare Part B? The New Answer is Yes!

Based on the information in the links (in the original post), it looks like the Part B premium reimbursement is for only one person. So if a couple is getting coverage, they’d still be on the hook for one Part B premium with the UH retiree plan. Can anyone confirm this? I’m two years into Medicare e...
by delamer
Tue Apr 20, 2021 9:02 am
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

I have read every post in this thread and still can't find myself leaning one way or another. We just refinanced our mortgage to 2.88% (yay). Still, like so many others, on one hand I do not like debt; on the other I know the long term probability play is to invest in a taxable brokerage. My hybrid...
by delamer
Mon Apr 19, 2021 4:16 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

I find it interesting that many say that paying off a mortgage early is only done for emotional reasons, but the same people seldom or never question young investors who have 40% or more of their investments in fixed income due to their risk tolerance. Those two things seem consistent to me. Paying...
by delamer
Mon Apr 19, 2021 8:43 am
Forum: Personal Consumer Issues
Topic: Comfortable Men's Flip Flops?
Replies: 69
Views: 5006

Re: Comfortable Men's Flip Flops?

Just thought about another site... zappos... anyone have experience on this? Thing is i really want to try it out like at a physical store as oppose to buying it online. I guess i could just try visiting jcpenney, kohls etc when im back in the US then right? Again im from nyc. The thing is i seen s...
by delamer
Mon Apr 19, 2021 8:39 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 186
Views: 11991

Re: First child entering college in the fall... need some advice

Many of these stories, about being over-leveraged, can be written from any place in the country. HCOL, MCOL, and LCOL areas. Outside of BH's, most people don't save any money and live their lives in debt. True fact. Take away the really wealthy who pass wealth on to generations and you are left wit...
by delamer
Fri Apr 16, 2021 10:13 am
Forum: Personal Finance (Not Investing)
Topic: Can I make a Roth for my daughter?
Replies: 31
Views: 3093

Re: Can I make a Roth for my daughter?

Yes, you can fund your child’s Roth with your money and she can keep her earnings. And yes, you can’t contribute more than the gross on her W-2(s). I think tip income that doesn't show up on W2 also counts towards the max. Makes sense. But you’d better be paying taxes on those tips if you want to c...
by delamer
Fri Apr 16, 2021 10:12 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 186
Views: 11991

Re: First child entering college in the fall... need some advice

Upward mobility is important to many of us, but not to all of us. For those of us to whom it matters, the pathways are vastly different. OP attended a really good school, OP's spouse attended a good school, and they've got good jobs and a comfortable lifestyle. They have an ultra-bright and talente...
by delamer
Fri Apr 16, 2021 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Can I make a Roth for my daughter?
Replies: 31
Views: 3093

Re: Can I make a Roth for my daughter?

+1, once the account is open you can deposit your money directly into it using EFT, wire, or old fashioned check. this would show the $$ coming from someone other than her (??) Doesn't matter where the money comes from. It's a gift to the daughter and she can fund her IRA up to the limit or amount ...
by delamer
Fri Apr 16, 2021 9:54 am
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

Ive really enjoyed reading both sides of this thread. Now here is a hypothetical- If you had a pension, would that effect your decision one way or another? What is your reasoning EDIT-If you had a pension, would you pay off your mortgage in your 30s? In your 40s? 50s? How would it effect your decis...
by delamer
Thu Apr 15, 2021 4:35 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

Ive really enjoyed reading both sides of this thread. Now here is a hypothetical- If you had a pension, would that effect your decision one way or another? What is your reasoning Almost everyone has a pension, even if it is called Social Security. The underlying issue should really be whether your ...
by delamer
Thu Apr 15, 2021 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Can I make a Roth for my daughter?
Replies: 31
Views: 3093

Re: Can I make a Roth for my daughter?

Yes, you can fund your child’s Roth with your money and she can keep her earnings.

And yes, you can’t contribute more than the gross on her W-2(s).
by delamer
Wed Apr 14, 2021 1:33 pm
Forum: Personal Consumer Issues
Topic: Offering position to candidate interviewed 7 months ago
Replies: 22
Views: 1188

Re: Offering position to candidate interviewed 7 months ago

I’d approach it as “the position has opened up again” rather than “our 1st choice didn’t work out.”

You don’t want Candidate B to be wondering about your judgement upon this approach, even if you plan to tell her later..
by delamer
Wed Apr 14, 2021 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: "Nobody's ever regretted paying off the mortgage."
Replies: 491
Views: 32379

Re: "Nobody's ever regretted paying off the mortgage."

It’s a lot more tempting to take money out of an easily accessible taxable account than it is to access the money tied up in your house via a HELOC or cash-out refinance.

So if spending is a problem, tying up the money isn’t a bad idea.
by delamer
Wed Apr 14, 2021 1:18 pm
Forum: Personal Consumer Issues
Topic: Carvana or Vroom- ever use it?
Replies: 71
Views: 6707

Re: Carvana or Vroom- ever use it?

A few months ago I decided to see what these places would offer me compared to my dealer on trade in. 2015 BMW m235xi in excellent shape. Dealer 21k Carvana 24,394 Vroom 25,??? Since I had the title and I don't have a Carvana or Vroom near me, I thought I would go with Vroom.Vroom was a complete me...
by delamer
Wed Apr 14, 2021 1:16 pm
Forum: Personal Investments
Topic: Planning a MAJOR rebalance of a Rollover 401(k)
Replies: 3
Views: 263

Re: Planning a MAJOR rebalance of a Rollover 401(k)

If your wife has retirement accounts too, then consider those investments when reallocating your IRA. In other words, look at the allocation across all of your retirement money not just within any one account. For instance, if you’ll be withdrawing from your account soon then keep some cash/short-te...
by delamer
Wed Apr 14, 2021 10:13 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 186
Views: 11991

Re: First child entering college in the fall... need some advice

As I always say on these threads, we had higher income than OP and still got some need-based aid--subsidized loans, and a little grant when we had two in school simultaneously. One thought: The " Private College 529 " allows purchase of tuition credits at today's price which can be used e...
by delamer
Wed Apr 14, 2021 10:03 am
Forum: Personal Investments
Topic: Asset Allocation for 75 year old mom
Replies: 14
Views: 1326

Re: Asset Allocation for 75 year old mom

Please list her current allocation to stocks/bonds/cash excluding the Lincoln money (stocks broken into. US and international). Include emergency fund. How much is she withdrawing from her assets each year to cover her expenses? She says she takes the RMD, around 4%, around $2k. She didn't make any...
by delamer
Tue Apr 13, 2021 9:11 pm
Forum: Personal Finance (Not Investing)
Topic: Can finally invest a ton, but am I buying high?
Replies: 7
Views: 1295

Re: Can finally invest a ton, but am I buying high?

In 20 years, you’ll be amazed at how low stock prices were today.

And read this about market timing: https://awealthofcommonsense.com/2014/0 ... ket-timer/
by delamer
Tue Apr 13, 2021 8:28 pm
Forum: Personal Investments
Topic: Asset Allocation for 75 year old mom
Replies: 14
Views: 1326

Re: Asset Allocation for 75 year old mom

Please list her current allocation to stocks/bonds/cash excluding the Lincoln money (stocks broken into. US and international).

Include emergency fund.

How much is she withdrawing from her assets each year to cover her expenses?
by delamer
Tue Apr 13, 2021 8:17 pm
Forum: Personal Investments
Topic: Getting Rid of Old Investments
Replies: 6
Views: 874

Re: Getting Rid of Old Investments

The key is determining the cost basis for the GWPAX. Assuming that it’s worth $14,000 (not shares) when you sell, you’ll be taxed only on the difference between that amount and what you paid for the asset. So if your cost basis is $10,000 (for example), the taxable gain would be $4,000. If you’ve he...
by delamer
Tue Apr 13, 2021 8:08 pm
Forum: Personal Investments
Topic: Help with advising sister who's husband just passed.
Replies: 17
Views: 1816

Re: Help with advising sister who's husband just passed.

I’m sorry for your family’s loss.

Is she going to need any of the insurance money to pay her day-to-day bills? I assume her income is reduced due to her loss?
by delamer
Tue Apr 13, 2021 4:19 pm
Forum: Personal Investments
Topic: What to do with 10K?
Replies: 6
Views: 611

Re: What to do with 10K?

It really depends on how far in the future you’ll use the money.

One of the Vanguard LifeStrategy funds would be simple: https://investor.vanguard.com/mutual-fu ... trategy/#/
by delamer
Tue Apr 13, 2021 4:11 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 186
Views: 11991

Re: First child entering college in the fall... need some advice

What kind of financial aid are you talking about? Scholarships, grants, student loans, parent loans, work study? They are all types of financial aid with vastly different consequences. As another poster suggested, It seems to me that the question is whether you and your spouse are prepared to take o...
by delamer
Tue Apr 13, 2021 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: events that require unfreezing credit
Replies: 21
Views: 906

Re: events that require unfreezing credit

It makes me 15 minutes to unfreeze credit (temporarily) for both me and my spouse at all three credit bureaus (2 unfreezes at each bureau).
by delamer
Tue Apr 13, 2021 3:52 pm
Forum: Personal Consumer Issues
Topic: High spenders what do you spend on?
Replies: 255
Views: 25386

Re: High spenders what do you spend on?

Good Long Term Care insurance can be a huge budget item. And in many areas, property taxes. Having both of these expenses can be an elephant in the room. Technically these are not mandatory expenses, but you might have to move or just take your chances on getting old and not needing any care. So it...
by delamer
Tue Apr 13, 2021 3:42 pm
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 286
Views: 20947

Re: For those retired or FI, how much do you spend annually?

This has been a great thread. I was thinking the following which is $111,400 per year but would love feedback. $7,2000 Car gas/maintenance (a little more than what we spend now) $6,240 Gardening/Home Cleaning (about what we spend now) $2,160 Cellular Bills (about what we spend now) $15,000 Vacation...
by delamer
Tue Apr 13, 2021 10:01 am
Forum: Investing - Theory, News & General
Topic: What's your definition of "Family Money"?
Replies: 47
Views: 5523

Re: What's your definition of "Family Money"?

I think to be family money it is more than just inherited or expected to be passed down but also that the accounts are owned in trusts or entities that are joint to a number of individuals. This implies that no single person can just do something with all the money. There is an implication that thi...
by delamer
Mon Apr 12, 2021 6:54 pm
Forum: Personal Consumer Issues
Topic: blue Sapphire jewelry
Replies: 9
Views: 931

Re: blue Sapphire jewelry

We’ve had good experiences with Blue Nile, but it depends on your budget: https://www.bluenile.com/gemstone-jewel ... re-jewelry
by delamer
Mon Apr 12, 2021 3:33 pm
Forum: Personal Finance (Not Investing)
Topic: Coming out of being debt free - ??
Replies: 14
Views: 1284

Re: Coming out of being debt free - ??

Since quite a bit of our money will be tied up in pensions/RE/tIRA that don’t reasonably provide a lump sum but payout over time, I have no anxiety about taking out a mortgage(s). But that seems counterintuitive to the boglehead approach. Am I wrong? Worry only about the approach that works best fo...