Bogleheads.org

TomatoTomahto

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 ...

TomatoTomahto

[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 ...

TomatoTomahto

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 ...

TomatoTomahto

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).

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

+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 ...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

Deleted. Not “out of the box” enough.

TomatoTomahto

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...

TomatoTomahto

Deleted. Not “out of the box enough.”

TomatoTomahto

$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...

TomatoTomahto

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.

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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.

TomatoTomahto

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.

TomatoTomahto

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.

TomatoTomahto

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

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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 ...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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 ...

TomatoTomahto

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.

TomatoTomahto

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

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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 ...

TomatoTomahto

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...

TomatoTomahto

Just don’t get into one of those lease deals. Borrow if you must, but own the solar.

TomatoTomahto

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.

TomatoTomahto

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...

TomatoTomahto

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:...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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 ...

TomatoTomahto

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.

TomatoTomahto

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 ...

TomatoTomahto

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...

TomatoTomahto

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...

TomatoTomahto

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...

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