Search found 2879 matches

by J295
Mon Apr 19, 2021 7:05 pm
Forum: Personal Investments
Topic: $1,000,000 In An Ally Savings Account?
Replies: 51
Views: 6653

Re: $1,000,000 In An Ally Savings Account?

Did this a year ago with $1 million. Married with four CDs, two at Marcus two at Ally — all with full FDIC coverage. Online registration and funding was straightforward. CDAR is another option, as are online savings accounts. American Express Bank also has a easy to use online savings account. It do...
by J295
Sun Apr 18, 2021 6:55 pm
Forum: Personal Investments
Topic: Where to put $400K To Be Used For College Expenses in 5 years?
Replies: 26
Views: 2695

Re: Where to put $400K To Be Used For College Expenses in 5 years?

High yield savings accounts. Perhaps CDs if rates increase.

You can seek value increases through other assets.
by J295
Mon Apr 12, 2021 8:25 pm
Forum: Personal Consumer Issues
Topic: Which Credit Card to Get for Travel to Hawaii (looking for a bonus offer)
Replies: 19
Views: 1843

Re: Which Credit Card to Get for Travel to Hawaii (looking for a bonus offer)

When we took our adult kids and their spouses and grandchild to Hawaii a couple of years ago we had three of us with Southwest cards where you could add a companion for free. They’ve run a unique two-for-one special like this a couple of times. Thus, we bought three tickets, got three free, had one ...
by J295
Thu Apr 08, 2021 4:50 pm
Forum: Personal Consumer Issues
Topic: walking shoes with wide toes?
Replies: 48
Views: 2954

Re: walking shoes with wide toes?

Altra
Hoka
by J295
Tue Apr 06, 2021 7:45 pm
Forum: Investing - Theory, News & General
Topic: “Bogleheads’ Guide To Investing” Portfolios - 50% in TIPS?
Replies: 25
Views: 3041

Re: “Bogleheads’ Guide To Investing” Portfolios - 50% in TIPS?

Early retired 50% equity 30% fixed split equally between TIP and BND 20% CD, I bond, s-t bond, MMF Within the last year or two I posted about the BND and TIP allocations and as I recall splitting between the two for the fixed portion seemed reasonable and not uncommon. In our particular situation, t...
by J295
Sat Apr 03, 2021 8:47 am
Forum: Personal Consumer Issues
Topic: Would you give money to close friends to live in same neighborhood?
Replies: 45
Views: 2993

Re: Would you give money to close friends to live in same neighborhood?

If we were deciding something like this, the discernment would be based on relationship not finances. If we thought all things considered it was a likely plus for the relationship we would move towards giving. We would try and put ourselves in the recipients’ shoes when discerning (many people are n...
by J295
Thu Apr 01, 2021 8:53 pm
Forum: Personal Finance (Not Investing)
Topic: If I go part time, my wife is kicked off of the health insurance plan.
Replies: 23
Views: 2339

Re: If I go part time, my wife is kicked off of the health insurance plan.

OP should drill down on the insurance analysis. Each situation is unique.

We have been on ACA coverage (as early retirees) since it’s inception, and it has been fine.
by J295
Thu Apr 01, 2021 8:45 pm
Forum: Personal Finance (Not Investing)
Topic: Need help selecting a moderate cost trusts and estates attorney
Replies: 17
Views: 909

Re: Need help selecting a moderate cost trusts and estates attorney

Retired lawyer here. I find unresponsive lawyers very frustrating. As you search for a capable lawyer to handle your project on a cost effective basis you might consider searching the ACTEC directory for Illinois, particularly excluding Chicago. The directory is available online. From there you coul...
by J295
Mon Mar 29, 2021 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Should we purchase a house without using a RE agent?
Replies: 32
Views: 1674

Re: Should we purchase a house without using a RE agent?

We have purchased two homes without a buyers agent, but each time we new the sellers and the homes were not listed. In this market we would use an agent, especially if we were looking in a different city. Perhaps you need a “better” agent. Note: a potential risk of no agent is that the communication...
by J295
Fri Mar 26, 2021 8:20 am
Forum: Personal Finance (Not Investing)
Topic: Owners Title Ins., purchasing property from Judge
Replies: 43
Views: 2630

Re: Owners Title Ins., purchasing property from Judge

We always purchase owners coverage, just as we have always carried fire insurance coverage. No title claims, no fires, but feeling fine about our decisions.
by J295
Fri Mar 26, 2021 8:08 am
Forum: Personal Consumer Issues
Topic: Experiences with professional coaching, e.g. BetterUp or others?
Replies: 26
Views: 2659

Re: Experiences with professional coaching, e.g. BetterUp or others?

I applaud and encourage your interest in this topic.

I don’t have experiences with these programs so can’t speak to them.

I had and still have positive experiences through dialogue with my spouse and a life long close friend.

Perhaps you would find a retreat worthwhile.
by J295
Thu Mar 25, 2021 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: JTWRS Problems - what are my options?
Replies: 136
Views: 10508

Re: JTWRS Nightmare - what are my options?

Retired lawyer here. The suggestions for you to consult with legal counsel are appropriate.
by J295
Wed Mar 24, 2021 6:38 pm
Forum: Personal Finance (Not Investing)
Topic: Non-compete agreements: Competitors vs. Technology
Replies: 35
Views: 1564

Re: Non-compete agreements: Competitors vs. Technology

Still, I think that you should do everything that you can to adhere to an NCA unless you truly must break it in order to care for your family. Breaking your word is not something that should be done lightly. If everybody did that would there be any new startups? Would innovation get stifled? Every ...
by J295
Tue Mar 23, 2021 7:49 am
Forum: Personal Consumer Issues
Topic: Baylor, Auburn or ‘Bama?
Replies: 73
Views: 5260

Re: Baylor, Auburn or ‘Bama?

Surprised no one has yet mentioned that the Dr Pepper Museum is in Waco! If Texas A&M is an option, all of the people I know who went there had wonderful experiences. If your son does end up in Texas and he’s asked if he is from Texas, one response to consider is “No but I got here as soon as I ...
by J295
Mon Mar 22, 2021 8:38 am
Forum: Personal Investments
Topic: What do most people do with a 401K upon retirement if they dont need it?
Replies: 169
Views: 15385

Re: What do most people do with a 401K upon retirement if they dont need it?

Chassis ... Thank you. I too would like to see actual detailed analysis on the Roth conversion.
by J295
Sun Mar 21, 2021 7:35 am
Forum: Personal Investments
Topic: 8 year checkup, portfolio review, early retirement, AA change?
Replies: 9
Views: 1754

Re: 8 year checkup, portfolio review, early retirement, AA change?

I’ll provide a comment on your AA. First maybe a little background might be helpful. I transitioned out of my professional practice at age 53 in 2013, just a few years after the start of the great recession. We were 100% equities until my transition, which made living through the GR rather dicey. Yo...
by J295
Sat Mar 20, 2021 6:43 pm
Forum: Personal Investments
Topic: Roth Conversion 5-year Rule: N/A for Principal if over 59.5?
Replies: 11
Views: 1158

Re: Roth Conversion 5-year Rule: N/A for Principal if over 59.5?

If your Roth account is 5 years old (i.e., you put $1 in it 5 years ago) and you are over 59 1/2, there is NO five year rule. Period. Full stop. And that applies to contributions, conversions and earnings. +1, all funds are qualified at that point. This is also a good reminder for everyone to open ...
by J295
Sat Mar 20, 2021 10:29 am
Forum: Investing - Theory, News & General
Topic: Logical fallacies on Bogleheads
Replies: 23
Views: 1949

Re: Logical fallacies on Bogleheads

An appeal to authority, if the 'authority' is a recognized expert in the domain, is a pretty tame "fallacy". A court would allow expert testimony on evidence. Not wanting to be argumentative at all… but as a retired lawyer my perception is there is a wide range in the strength of analysis...
by J295
Sat Mar 20, 2021 10:17 am
Forum: Investing - Theory, News & General
Topic: Logical fallacies on Bogleheads
Replies: 23
Views: 1949

Re: Logical fallacies on Bogleheads

While not an official “logical fallacy” I think that many times people posting here fail to consider that personal finance is indeed personal. Good point. I believe it was Taylor who was often cited for the proposition that there are “many roads that lead to Dublin.” And TNWoods (and the others upt...
by J295
Sat Mar 20, 2021 6:33 am
Forum: Investing - Theory, News & General
Topic: Move out of bond funds
Replies: 7
Views: 2583

Re: Move out of bond funds

61 yo “retired” couple with 50/50 AA comfortable with our non-stocks as
30% fixed (equally BND and TIP)
20% cash (CD, ibonds, MM, short term bonds) (yes, short term bonds aren’t cash but that’s where we bucket it).

Not totally bullet proof “safe” but close enough for us given our overall situation.
by J295
Thu Mar 18, 2021 7:40 am
Forum: Personal Finance (Not Investing)
Topic: [Tax Day for individuals extended to May 17 - filing and payment]
Replies: 56
Views: 4281

Tax Filing and Payment Deadlines Extended

[merged into existing thread - moderator prudent]

I suspect most here are aware of this from the IRS and Treasury, but just in case someone isn’t yet aware here it is FYI.

https://www.irs.gov/newsroom/tax-day-fo ... t-deadline
by J295
Tue Mar 16, 2021 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Excess Employer Contributions - Solo 401k?
Replies: 6
Views: 310

Re: Excess Employer Contributions - Solo 401k?

Suzbanyan and Pizzy just helped out last night on a thread about an excess employee deferral. Perhaps you want to PM them and see if they are interested in responding to this thread.
by J295
Mon Mar 15, 2021 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k Excess Deferral and Prompt Correction. Tax Implications?
Replies: 5
Views: 238

Re: Solo 401k Excess Deferral and Prompt Correction. Tax Implications?

Generally, what a employee makes an excess deferral to a Solo 401k, the plan administrator is required to return the excess funds to you — as a "corrective distribution" — plus calculate and return additional earnings (if any) and reissue paperwork that corrects the 401(k) overcontributio...
by J295
Mon Mar 15, 2021 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Solo 401k Excess Deferral and Prompt Correction. Tax Implications?
Replies: 5
Views: 238

Solo 401k Excess Deferral and Prompt Correction. Tax Implications?

I've read about this but seem to be having a brain freeze so seeking some help here. My March 2020 my wife made an employee deferral for the year 2019 (which is clearly permitted) in her solo 401k and miscalculated the allowed amount (that was my mistake), discovered the error, and two weeks later c...
by J295
Mon Mar 15, 2021 2:42 pm
Forum: Personal Investments
Topic: 15x expenses, then SS
Replies: 95
Views: 7903

Re: 15x expenses, then SS

I transitioned out of my full-time law partnership eight years ago at age 53. Went to part time, very part time, and then no time. I’ll just note the following for your consideration… I’ve never been a fan of debt, especially in retirement unless there are material assets to support it (not the case...
by J295
Mon Mar 15, 2021 8:56 am
Forum: Personal Investments
Topic: 15x expenses, then SS
Replies: 95
Views: 7903

Re: 15x expenses, then SS

What is the home value? What is the current debt?

What I am perceiving is you really want to get out of the practice, and have the ability and willingness to materially modify expenses as needed to achieve this objective. Is that accurate?
by J295
Fri Mar 12, 2021 4:47 pm
Forum: Personal Finance (Not Investing)
Topic: American Rescue Plan - changes to tax software
Replies: 9
Views: 1336

Re: American Rescue Plan - changes to tax software

What ACA PTC changes are effective for the year 2020 ? There is no reconciliation if you made more income than your PTC was based on. In other words, you don't have to pay back the PTC. I took a CARES Act distribution from my tIRA. I was going to spread it over 3 years which is allowed so it didn't...
by J295
Fri Mar 12, 2021 4:33 pm
Forum: Personal Finance (Not Investing)
Topic: American Rescue Plan - changes to tax software
Replies: 9
Views: 1336

Re: American Rescue Plan - changes to tax software

What ACA PTC changes are effective for the year 2020 ?
by J295
Fri Mar 12, 2021 4:27 pm
Forum: Personal Investments
Topic: American Rescue Plan - Roth conversions with ACA PTC?
Replies: 14
Views: 1130

Re: American Rescue Plan - Roth conversions with ACA PTC?

Can you provide your source for this conclusion? If I understand your post, this would mean that the premium tax credit will be the same for a couple with $50,000 modified adjusted gross income as it is for a couple with $750,000 of modified adjusted gross income?
by J295
Thu Mar 11, 2021 10:17 am
Forum: Personal Finance (Not Investing)
Topic: 1099-R for Corrective Return of Solo 401k Excess Contribution (Technical Question)
Replies: 3
Views: 254

Re: 1099-R for Corrective Return of Solo 401k Excess Contribution (Technical Question)

Thank you Homestretch!
I'll report back.
I also have this question out to the Turbo Tax Community.
by J295
Wed Mar 10, 2021 11:56 pm
Forum: Personal Investments
Topic: Looking for recommendation for financial newsletter
Replies: 9
Views: 746

Re: Looking for recommendation for financial newsletter

Jonathan Clements has a free weekly newsletter.
by J295
Wed Mar 10, 2021 11:50 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth building your dream house?
Replies: 109
Views: 7053

Re: Is it worth building your dream house?

My current house is great with an excellent location but as we age we have less and less in common with the neighborhood demographic. Also, looking to the future there are things that I would like to change as we age. All this has got me thinking it is time to build our dream house so we can enjoy ...
by J295
Wed Mar 10, 2021 11:27 am
Forum: Personal Finance (Not Investing)
Topic: Is it worth building your dream house?
Replies: 109
Views: 7053

Re: Is it worth building your dream house?

Custom built once with a growing family, then 22 years later when there were just the two of us did a total renovation to an existing home on the golf course. Enjoyed both projects and both homes immensely.
by J295
Tue Mar 09, 2021 6:29 am
Forum: Personal Finance (Not Investing)
Topic: 1099-R for Corrective Return of Solo 401k Excess Contribution (Technical Question)
Replies: 3
Views: 254

1099-R for Corrective Return of Solo 401k Excess Contribution (Technical Question)

We made a calculation error and inadvertently over contributed to my wife's solo 401k (employee elective deferral) by $3,000 in March 2020 for the 2019 tax year (as permitted timing wise). A couple of weeks later we discovered the error and called Fidelity and told them and they transferred the $3,0...
by J295
Wed Mar 03, 2021 9:51 pm
Forum: Personal Consumer Issues
Topic: If you live on a golf course .... [battery-powered golf cart recommendation?]
Replies: 18
Views: 2294

Re: If you live on a golf course ....

Appreciate the replies. I didn’t realize the center console in the Yamaha was a pertinent distinction, until I was visiting with a friend on the course today and he mentioned that as the reason why they went with Yamaha over Club Car. I see that mentioned up thread also. Something for me to think ab...
by J295
Wed Mar 03, 2021 1:47 pm
Forum: Personal Investments
Topic: long wait time when calling fidelity customer service
Replies: 31
Views: 5452

Re: Fidelity’s lack of customer service

Got a rep within about a minute today. Same thing a few days ago. I’m sure it depends on customer rating. Our daughter/SIL have a small portfolio there and she was at our home and called and waiting a long time, so I just called while she was on hold on my phone and phone login with my credentials a...
by J295
Wed Mar 03, 2021 9:11 am
Forum: Personal Consumer Issues
Topic: If you live on a golf course .... [battery-powered golf cart recommendation?]
Replies: 18
Views: 2294

If you live on a golf course .... [battery-powered golf cart recommendation?]

Can you recommend a battery powered riding golf cart? We have an old Club Car and it's time to replace. What do you recommend, and would you buy new or used? I'll probably use it 75 times per year. I've also posted on Golfwrx. Thanks.
by J295
Wed Mar 03, 2021 7:30 am
Forum: Personal Consumer Issues
Topic: Anyone employ personal assistants? House managers?
Replies: 49
Views: 4185

Re: Anyone employ personal assistants? House managers?

I like your thinking here of offloading the things you don’t enjoy. Not precisely what you’re looking for, but our son third parties out all of the things he doesn’t care to do. He would not enjoy a full-time handle everything sort of person though. He definitely would not like someone living in his...
by J295
Tue Mar 02, 2021 7:58 pm
Forum: Investing - Theory, News & General
Topic: How crazy is it to hold 100% equities until retirement? (ERN)
Replies: 540
Views: 21870

Re: How crazy is it to hold 100% equities until retirement? (ERN)

100% equities and the right circumstances can be successful, and if OP goes this route I hope he /she has great success. If there are speed bumps, and there almost always are, OP can adjust. FWIW we were 100% equities until leaving full time work at age 53 in January 2013. The Great Recession a few ...
by J295
Sun Feb 28, 2021 10:43 pm
Forum: Personal Consumer Issues
Topic: Power of Attorney Forms
Replies: 8
Views: 694

Re: Power of Attorney Forms

Thank you for the reply. The local bank actually suggested I just go online to get the forms for free. (No suggestion as to which site to use though.) They will be satisfied with those. A little more info: Mom wants me to have POA at the local bank just to be able to pay bills in case she becomes i...
by J295
Sun Feb 28, 2021 4:57 pm
Forum: Personal Finance (Not Investing)
Topic: Going into business with family
Replies: 113
Views: 5933

Re: Going into business with family

I’m completely fine with OP not doing this venture, because it’s not a good fit for him. From 30,000 feet, and based on some experiences with private placement offerings, the structure involving a management company and certain conflicts of interest are common and with the right terms and people not...
by J295
Thu Feb 25, 2021 10:12 pm
Forum: Personal Finance (Not Investing)
Topic: Going into business with family
Replies: 113
Views: 5933

Re: Going into business with family

OP states “I’m not the entrepreneurial type.” This seems extremely important; much more so than the distant family connection. I’ve seen family business ventures fail and relationships sour, and family businesses that were wildly successful with no material drama, bringing wealth to the tune of hund...
by J295
Tue Feb 23, 2021 7:30 pm
Forum: Personal Finance (Not Investing)
Topic: Stepping back in career when wife is doing well?
Replies: 58
Views: 5549

Re: Stepping back in career when wife is doing well?

I’ve seen tons of great spouses and great parents who work outside the home, and who work inside the home. In my opinion, it’s not one-size-fits-all. Even though I had a fine professional career I decided to leave during my peak earning years because my primary vocations have been spouse, father, an...
by J295
Mon Feb 22, 2021 7:52 pm
Forum: Investing - Theory, News & General
Topic: new solo 401(k): contribute from last year?
Replies: 5
Views: 258

Re: new solo 401(k): contribute from last year?

As I sit here I can’t site to the governing law, but I’m fairly certain that you cannot contribute for 2020 if you just set up the solo 401(k) in 2021. A Google search on the requirements should verify. Moreover, if you set one up this year 2021 and want to delay your contributions until the tax fil...
by J295
Mon Feb 22, 2021 2:09 pm
Forum: Personal Consumer Issues
Topic: SUV or Van Rental for 4 Adults and 2 toddlers and 1 baby
Replies: 13
Views: 840

Re: SUV or Van Rental for 4 Adults and 2 toddlers and 1 baby

FWIW for a trip like this we get two large SUVs. For us it’s not only an issue of space, but convenience during the to and from travel and during the stay. A special consideration exist due to the young travelers. Sometimes one will be ready for a nap, but not the others, and it’s convenient to sepa...