Search found 12053 matches

by TomatoTomahto
Sun Apr 18, 2021 9:35 am
Forum: Personal Investments
Topic: What does "won the game stop playing" mean in practice?
Replies: 26
Views: 1030

Re: What does "won the game stop playing" mean in practice?

In our case, it meant putting $3M in various safe assets (eg, Stable Value fund, TBM, etc). Everything else goes to equities. Please don’t take this the wrong way, but if you need 3% real, you haven’t “won the game.” You’re ahead in the 3rd period :sharebeer IMO, winning the game means that 0% real ...
by TomatoTomahto
Sun Apr 18, 2021 9:27 am
Forum: Investing - Theory, News & General
Topic: Don't fuss about 529 accounts. Have your child skip the first two years of college instead!
Replies: 101
Views: 6854

Re: Don't fuss about 529 accounts. Have your child skip the first two years of college instead!

[snip...] I guess I also fall into the "pitied" group who didn't get to join a frat, party, and drink. As you know, the family is very happy with our son’s college experience. The only down time was when he (briefly) belonged to a fraternity. It was not a positive experience for him, but ...
by TomatoTomahto
Sun Apr 18, 2021 9:13 am
Forum: Investing - Theory, News & General
Topic: Do simple index fund-only portfolios (e.g., 3-fund, 5-fund, etc.) work for the ultra wealthy (say, $20+ million)?
Replies: 31
Views: 2282

Re: Do simple index fund-only portfolios (e.g., 3-fund, 5-fund, etc.) work for the ultra wealthy (say, $20+ million)?

I wouldn't call $20 million great wealth or ultra wealthy. Index funds should work as well for someone worth $20 million than for someone worth $2 million. Someone with more money may have access to investments that aren't available to someone with less money. Whether that will produce a better or ...
by TomatoTomahto
Sun Apr 18, 2021 8:48 am
Forum: Personal Finance (Not Investing)
Topic: “Running the Numbers”
Replies: 24
Views: 1709

Re: “Running the Numbers”

michaeljc70 wrote: Sun Apr 18, 2021 8:45 am It sounds like hiring a well known artist to paint the walls a solid color in your home.
I enjoy a good analogy. Well done Sir (I made that assumption based on your username; if in error, apologies).
by TomatoTomahto
Sun Apr 18, 2021 7:57 am
Forum: Personal Finance (Not Investing)
Topic: “Running the Numbers”
Replies: 24
Views: 1709

Re: “Running the Numbers”

Jim Lange can probably run numbers better than I can for some of the variables (expected growth of deferred accounts, taxable accounts, etc). Otoh, he has no better idea than I do about so many of the important variables: How long will I live? How long will my wife live? What will our medical expens...
by TomatoTomahto
Sun Apr 18, 2021 7:08 am
Forum: Investing - Theory, News & General
Topic: Don't fuss about 529 accounts. Have your child skip the first two years of college instead!
Replies: 101
Views: 6854

Re: Don't fuss about 529 accounts. Have your child skip the first two years of college instead!

Finally, for any parents trying to increase college ROI, consider encouraging your kids to make the most efficient use of their educational experience. Are they getting to know their professors and key staff? Are they building a career-oriented network through club leadership or community activitie...
by TomatoTomahto
Sun Apr 18, 2021 6:17 am
Forum: Personal Finance (Not Investing)
Topic: What to do next for our savings after maxing out everything?
Replies: 42
Views: 3095

Re: What to do next for our savings after maxing out everything?

OP, it’s not a bad idea to backdoor when you’re close to the limit. There’s no penalty for an “unnecessary” backdoor and it’s good practice. There is a penalty, it is the pro rata rule. We can't assume someone has a zero balance across all IRA like accounts. Even if someone doesn't have a IRA balan...
by TomatoTomahto
Sun Apr 18, 2021 5:48 am
Forum: Personal Finance (Not Investing)
Topic: Can I make a Roth for my daughter?
Replies: 30
Views: 2877

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 TomatoTomahto
Sat Apr 17, 2021 5:51 pm
Forum: Personal Investments
Topic: Roth Conversions in Retirement
Replies: 22
Views: 1762

Re: Roth Conversians in Retirement

Since the deferred balance is exclusively bonds and Stable Value, I don’t foresee having the opportunity to meaningfully convert even during a crash. Agreed, this is an understated point missed in nearly every Roth conversion thread on this forum I've ever read. I'd guess that most people start out...
by TomatoTomahto
Sat Apr 17, 2021 3:42 pm
Forum: Personal Consumer Issues
Topic: Better air conditioning for upstairs: minisplit or just upgrade main hvac to variable speed?
Replies: 14
Views: 1323

Re: Better air conditioning for upstairs: minisplit or just upgrade main hvac to variable speed?

I don't really see how just replacing an already working unit is going to change the dynamic, unless the current one is undersized. It sounds like you need to possibly reengineer the ductwork. +1 We hadn’t realized just how undersized and choked off our upstairs returns were until we renovated that...
by TomatoTomahto
Sat Apr 17, 2021 3:00 pm
Forum: Personal Investments
Topic: Roth Conversions in Retirement
Replies: 22
Views: 1762

Re: Roth Conversians in Retirement

Hello fine people. I recently retired with a pension and 7 figures in what’s now a traditional IRA (rolled over my 403b/457). Now that I’ve got my married household income lowered ($170k), I’ve been thinking of converting some of those traditional IRA to a Roth. I’m know that I’d pay taxes on those...
by TomatoTomahto
Sat Apr 17, 2021 2:13 pm
Forum: Personal Investments
Topic: Roth Conversions in Retirement
Replies: 22
Views: 1762

Re: Roth Conversians in Retirement

Hello fine people. I recently retired with a pension and 7 figures in what’s now a traditional IRA (rolled over my 403b/457). Now that I’ve got my married household income lowered ($170k), I’ve been thinking of converting some of those traditional IRA to a Roth. I’m know that I’d pay taxes on those...
by TomatoTomahto
Sat Apr 17, 2021 8:32 am
Forum: Personal Finance (Not Investing)
Topic: What Does College Tuition Really Cost?
Replies: 59
Views: 4333

Re: What Does College Tuition Really Cost?

$80,878 full bill. Yes. Bite the bullet. It worth it when kid is so motivated, works so hard, so frugal, so independent and has excellent career prospect. She just called yesterday that she calculated that she can graduate one semester early. I said, don't work too hard, enjoy college years, you ma...
by TomatoTomahto
Sat Apr 17, 2021 8:29 am
Forum: Personal Finance (Not Investing)
Topic: What to do next for our savings after maxing out everything?
Replies: 42
Views: 3095

Re: What to do next for our savings after maxing out everything?

OP, it’s not a bad idea to backdoor when you’re close to the limit. There’s no penalty for an “unnecessary” backdoor and it’s good practice.
by TomatoTomahto
Sat Apr 17, 2021 7:30 am
Forum: Personal Investments
Topic: Roth conversion should I?
Replies: 5
Views: 788

Re: Roth conversion should I?

Very few here would recommend paying taxes on Roth conversions while in the 32% tax bracket. I’m one of the few that might recommend it in certain circumstances. We did some small conversions at the maximum marginal rates, but as the saying goes, the spirit was willing but the flesh was weak. My wi...
by TomatoTomahto
Sat Apr 17, 2021 7:18 am
Forum: Personal Finance (Not Investing)
Topic: What Does College Tuition Really Cost?
Replies: 59
Views: 4333

Re: What Does College Tuition Really Cost?

For background my kid will have a 4.0 GPA (but not "just" 4 APA classes), combined we earn about $300K a year and assets of $5+M. Would they qualify for any tuition breaks based on people's experience? Is it roughly 10%, 50% or something else? Username checks out. ✔️ You might get minimal...
by TomatoTomahto
Sat Apr 17, 2021 6:59 am
Forum: Personal Consumer Issues
Topic: Replacement windows
Replies: 19
Views: 1311

Re: Replacement windows

Some of our windows needed replacing, and since they were very large double paned glass, we went with triple pane where we could (and heavily engineered double pane where it was wasn’t). We used a combination of Pelle and Marvin, and I have to say that I much prefer the Marvin. Triple glazed makes m...
by TomatoTomahto
Fri Apr 16, 2021 10:51 am
Forum: Personal Consumer Issues
Topic: can I get boglehead approval for a 70K truck?
Replies: 97
Views: 5320

Re: can I get boglehead approval for a 70K truck?

We have put down the $100 refundable deposit on the dual motor with FSD. Not sure yet if we will actually buy just yet. I don’t need the tri-Motor, but I’m sure Tesla will deliver those first, and since I’m almost 70, I wanted earlier delivery :D My wife thinks the CyberTruck is “cute.” I’m not goi...
by TomatoTomahto
Fri Apr 16, 2021 10:38 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

I live in a very affluent neighborhood with a median annual household income of 150K. My daughter joined a club at her high school and the fee was $600. Many parents could not afford to pay the $600 in one lump sum. They had to work out an installment plan. That is why I am no worried about a reces...
by TomatoTomahto
Fri Apr 16, 2021 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Federal government not taking taxes as scheduled
Replies: 20
Views: 1744

Re: Federal government not taking taxes as scheduled

I haven’t had any tax payments removed from my account other than the estimated taxes paid through EFT.

I have a feeling they won’t leave our account until the amended “due date.” I have made advance entries in Quicken to make sure that I don’t include the money in our “available” balance.
by TomatoTomahto
Fri Apr 16, 2021 10:02 am
Forum: Personal Consumer Issues
Topic: can I get boglehead approval for a 70K truck?
Replies: 97
Views: 5320

Re: can I get boglehead approval for a 70K truck?

humblecoder wrote: Fri Apr 16, 2021 9:52 am So go buy it. Enjoy it. But don't try to justify it on financial grounds.
It’s a $100 deposit fully refundable. OP will be a multi-millionaire or a pauper before the vehicle becomes available. OP can decide then.
by TomatoTomahto
Fri Apr 16, 2021 8:52 am
Forum: Personal Consumer Issues
Topic: can I get boglehead approval for a 70K truck?
Replies: 97
Views: 5320

Re: can I get boglehead approval for a 70K truck?

Money_Badger wrote: Fri Apr 16, 2021 8:47 am I happen to think the Cybertruck is ugly AF. Other than that, go for it man.
It is actually uglier than my Model X, and that’s saying a lot. But, I still ordered one, because I want to be able to throw firewood in the bed without worrying about gently placing logs in.
by TomatoTomahto
Fri Apr 16, 2021 8:37 am
Forum: Personal Consumer Issues
Topic: can I get boglehead approval for a 70K truck?
Replies: 97
Views: 5320

Re: can I get boglehead approval for a 70K truck?

an_asker wrote: Fri Apr 16, 2021 7:52 am Approved, so long as you don't come back again and ask for approval to pay DS or DD's tuition of $70k+ at top two Ivy League univ!
OP is 31 years old, so we have some time to prepare for that post :sharebeer
by TomatoTomahto
Fri Apr 16, 2021 8:34 am
Forum: Personal Consumer Issues
Topic: can I get boglehead approval for a 70K truck?
Replies: 97
Views: 5320

Re: can I get boglehead approval for a 70K truck?

C) Not approved. Pre-ordering a vehicle 2+3 years in advance is ridiculous in my book. Who knows where we will be/ or what will be invented in 3 years? I had to do that when ordering my Model X. That reservation cost (iirc) $5k; the CyberTruck reservation is only $100. 2.5 years later, I got my Mod...
by TomatoTomahto
Thu Apr 15, 2021 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10197

Re: The primary factor for picking a College/University is out of pocket cost

One thing that I haven't seen mentioned as much as it should be: at elite universities, the four-year graduation rate is above 90% (and most of the students that don't graduate in four are in five-year programs or transferred). At my son’s Ivy, you were expected to be out of there in 4 years. You c...
by TomatoTomahto
Thu Apr 15, 2021 1:46 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

Financial discounts off the full sticker price of a school come in many forms: financial aid, merit aid, Pell grants, favorable loans, athletic or other talent scholarships, private scholarships, etc. OP is discussing 2 Ivies. Most of the “discounts” you mention are explicitly off the table by Ivy ...
by TomatoTomahto
Thu Apr 15, 2021 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

Another thing to consider is that in a STEM field your daughter will likely be able to corral some well paying internships in the summer. Our sons had internships all three summers after school years, and all paid over 8k per month. That makes a nice dent in the costs. Ding! Ding! Ding! There are i...
by TomatoTomahto
Thu Apr 15, 2021 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

I had hoped to keep the college name/reputation vague because it's not really relevant to the questions I'm asking about advice on arranging my finances to maximize the potential of financial aid in future years - if any is potentially forthcoming. First, congrats to your daughter in being accepted...
by TomatoTomahto
Thu Apr 15, 2021 12:02 pm
Forum: Personal Finance (Not Investing)
Topic: Do tax preparer add value for 7 figure W2 income
Replies: 32
Views: 1890

Re: Do tax preparer add value for 7 figure W2 income

We use a tax preparer (CPA), but have done so because income is attributed to 5 different states (!). In a state audit, having a CPA manage the process was a big win. I don’t know if we will use the CPA after retirement, but I expect their charges will be lower then. We are all W2, pension, SS, and ...
by TomatoTomahto
Thu Apr 15, 2021 9:15 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

OP hasn’t even logged in since shortly after the initial post.

So, let’s hope/assume that it is a useful topic for others.
by TomatoTomahto
Thu Apr 15, 2021 8:21 am
Forum: Personal Finance (Not Investing)
Topic: Biggest expenses in life
Replies: 50
Views: 4098

Re: Biggest expenses in life

1. Taxes - some are worth it, some are wasted (NJ, I’m looking at you)

11. Home and renovation - worth it
12. Education - worth it, actually a money maker
13. Travel - worth it
by TomatoTomahto
Thu Apr 15, 2021 7:27 am
Forum: Personal Investments
Topic: sell all rental homes in one year or stager them yearly
Replies: 21
Views: 1634

Re: sell all rental homes in one year or stager them yearly

I know nothing about real estate, taxes, or ACA. However, we are selling mother in law’s house now because the market is hot beyond all sense. If you don’t want to be a landlord, you don’t want to be a landlord now, not 4 years from now. I’d sell them now and be done with it. Suffer the tax conseque...
by TomatoTomahto
Thu Apr 15, 2021 6:22 am
Forum: Personal Consumer Issues
Topic: Should I redo my front yard and backyard landscaping?
Replies: 30
Views: 2451

Re: Should I redo my front yard and backyard landscaping?

I don't reveal where I live on Bogleheads, please don't ask. I do agree that we need to ensure that our yard is nicely maintained after putting a chunk of change into it. And I just assumed that you lived in FL; well done :sharebeer I don’t know how you or your neighbors would feel about it, but we...
by TomatoTomahto
Thu Apr 15, 2021 5:45 am
Forum: Personal Finance (Not Investing)
Topic: Can I make a Roth for my daughter?
Replies: 30
Views: 2877

Re: Can I make a Roth for my daughter?

I did this with my kids from their first teenage job until their early 20's. I gave them the full amount of any W2 earnings up to the contribution limit for their Roth. At first they treated this as the tiresome prattling of an old guy, but it worked, and they are attentive to this ritual on their ...
by TomatoTomahto
Wed Apr 14, 2021 4:58 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

As usual, many folks here are confidently stating a 250k income will get no need based aid, or that it’d all be loans anyway. Thank you for pointing that out. I usually provide a view of an Ivy (either Yale because I know it or Princeton because it’s the most generous) and have done it often, but I...
by TomatoTomahto
Wed Apr 14, 2021 1:13 pm
Forum: Personal Finance (Not Investing)
Topic: Which is more forward-looking? Solar panels or Roth investment?
Replies: 29
Views: 1605

Re: Which is more forward-looking? Solar panels or Roth investment?

Just don’t get into one of those lease deals. Borrow if you must, but own the solar.
by TomatoTomahto
Wed Apr 14, 2021 1:03 pm
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 2756
Views: 274535

Re: [What TV Show Have You Recently Watched?]

BritBox has seasons 16, 17, 18 of Grand Designs available now. Seasons of this show are not always available. GREAT show if you enjoy architecture, building, and people who persist in their dreams.

:sharebeer :sharebeer :sharebeer
by TomatoTomahto
Wed Apr 14, 2021 12:30 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

Peer group in many ways is a function of who your child wants to hang with. There are great and meh peers at many schools. When I was in school, my peer group was amazing, and yet in the same school my 1st roommate's peer group was pretty terrible (a few of that group later dropped out). Same elite...
by TomatoTomahto
Wed Apr 14, 2021 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

I've asked this in several threads now, with no answer from anybody; outside of the education, how is the "experience" at an Ivy (or other "elite" U) different/better than state college? What is this "college experience" and why can't they get it at state U? Two words:...
by TomatoTomahto
Wed Apr 14, 2021 10:54 am
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

Uh, OK, simply strengthens one of the underlying points of "Operation Varsity Blues"; "elite" universities are the new Rolls Royce for parents. I don't begrudge anybody for spending $80k/yr to send their kid to a specific university without evidence it is somehow "better&qu...
by TomatoTomahto
Wed Apr 14, 2021 6:04 am
Forum: Personal Finance (Not Investing)
Topic: The primary factor for picking a College/University is out of pocket cost
Replies: 208
Views: 10197

Re: The primary factor for picking a College/University is out of pocket cost

Investing in our kid is the most important investment we will ever make. Hey, you just might be smarter than the AverageBear :D BHs seem to keep repeating examples where the schooling didn’t matter, examples of their own success with minimal education, etc. I am reminded of the country lyric, “am I...
by TomatoTomahto
Tue Apr 13, 2021 4:39 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

Both of my kids worked while in college. One was an EMT, but too many hours affected his grades, so he did some graphics design on the side. Net net, I wish that he had just focused on school. The other did internships during the summers and TA work during the academic year. He made a bunch and it s...
by TomatoTomahto
Tue Apr 13, 2021 3:57 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

Outside of a STEM field, and even iffy at that, can you honestly answer that question and say that the ROI of putting that kind of money (out of pocket) be realized in a career that will approach 20% of that amount in earnings? I’m not sure on the “20% of that amount” math. Could you describe what ...
by TomatoTomahto
Tue Apr 13, 2021 2:54 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

OnTrack2020 wrote: Tue Apr 13, 2021 2:41 pm Does that price tag include room/board for 4 years? If so, have her move off-campus for sophomore, junior, and senior year. That will save quite a bit.
I’m not sure that we saved a lot of money, but our son learned to cook very well and he ate better food for the two years he was off campus.
by TomatoTomahto
Tue Apr 13, 2021 2:39 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

Outside of a STEM field, and even iffy at that, can you honestly answer that question and say that the ROI of putting that kind of money (out of pocket) be realized in a career that will approach 20% of that amount in earnings? I’m not sure on the “20% of that amount” math. Could you describe what ...
by TomatoTomahto
Tue Apr 13, 2021 2:30 pm
Forum: Personal Finance (Not Investing)
Topic: First child entering college in the fall... need some advice
Replies: 174
Views: 10360

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

With income of $250 and only one child in college (at a time), you are unlikely to get any need-based financial aid from any but the most generous schools (eg, Princeton). Good on ‘ya for investing in her. My experience is that the ROI on education is worth it. Many BHs disagree, and that’s what mak...
by TomatoTomahto
Tue Apr 13, 2021 2:19 pm
Forum: Investing - Theory, News & General
Topic: What's your definition of "Family Money"?
Replies: 47
Views: 5480

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

Family Money = older generations have so significant wealth that they gift every year up to the gift limit to start wealth transfer early. I don’t think of us as being wealthy or having “family money,” whatever it turns out to be defined as, but we do gift to the annual max. A term that we use in t...
by TomatoTomahto
Tue Apr 13, 2021 1:54 pm
Forum: Personal Consumer Issues
Topic: High spenders what do you spend on?
Replies: 255
Views: 25251

Re: High spenders what do you spend on?

I looked into upgrading to business class on an upcoming international flight. It’s a bit over 3 hours and would cost me $550 each way for two....guys I just can’t do it. Ditto. We will start traveling again soonish, but we just don’t pay out-of-pocket for business or first class. We have enough mo...