Search found 22121 matches

by Watty
Wed Apr 21, 2021 2:53 pm
Forum: Personal Finance (Not Investing)
Topic: Early retirement?
Replies: 5
Views: 586

Re: Early retirement?

Monthly spending: ~$10k. I think we have enough. Thoughts and opinions? It was not clear if you included taxes in your monthly spending but if not then you could need a lot more than $120K a year in income each year to be able to spend $120K a year after taxes. Your expenses will likely be lower on...
by Watty
Wed Apr 21, 2021 12:38 pm
Forum: Personal Consumer Issues
Topic: Sell or Hold Used Car and Buy New?
Replies: 18
Views: 1024

Re: Sell or Hold Used Car and Buy New?

Is there quantifiable and objective data they they do something? Here you go. https://injuryfacts.nsc.org/motor-vehicle/occupant-protection/advanced-driver-assistance-systems/ Of course different manufactures may have better or worse systems. Systems are also improving over time and in addition to ...
by Watty
Wed Apr 21, 2021 10:09 am
Forum: Personal Finance (Not Investing)
Topic: Buyer's Market In City: To Wait or Not to Wait to Sell
Replies: 25
Views: 1160

Re: Buyer's Market In City: To Wait or Not to Wait to Sell

The market may be stronger in a couple of years. I would not count on that. I do not have a crystal ball but in a couple of years mortgage rates could be a lot higher and potential buyers could be looking at 6%+ mortgage which would make your place a lot less affordable. It was not that long ago th...
by Watty
Wed Apr 21, 2021 9:59 am
Forum: Personal Investments
Topic: Optimal strategy: use home equity at 3.25% or stop 401k contributions
Replies: 7
Views: 321

Re: Optimal strategy: use home equity at 3.25% or stop 401k contributions

.....or sell some appreciated investments and pay tax? One big question to look at about selling the appreciated assets is how much tax you will pay and how much you would pay if you are able to delay selling them until some point in the future. If you cannot figure out a scenario where you will pa...
by Watty
Wed Apr 21, 2021 9:51 am
Forum: Personal Investments
Topic: 2001 Series I Savings Bonds - potential tax issue at maturity
Replies: 11
Views: 810

Re: 2001 Series I Savings Bonds - potential tax issue at maturity

My wife and I each purchased $30,000 in Series I savings bonds in October 2001. They are currently worth about $162,000, representing accrued interest of about $102,000. They are the only savings bonds we own. Instead of waiting until 2031 to cash them all at once you could also cash some of them i...
by Watty
Wed Apr 21, 2021 9:06 am
Forum: Personal Consumer Issues
Topic: OTC hearing aids: experiences, wisdom?
Replies: 9
Views: 831

Re: OTC hearing aids: experiences, wisdom?

There is also a middle-ground. Low cost hearing aids. For instance Lively and Costco Signature. Available for less than $2000 a pair . Costco Signature 9.0 is $1495. and some of the PSAPs, which cost between $300 and $350 a pair." It is real important to make sure that you are not making an ap...
by Watty
Wed Apr 21, 2021 8:03 am
Forum: Personal Investments
Topic: Payoff Mortgage or Not?
Replies: 19
Views: 1542

Re: Payoff Mortgage or Not?

So it comes down to can we earn $21K on an investment of $125K over a 11 year period. The answer is "of course"! Earning just 2%+inflation a year values the $125K at $155K after 11 years. Your math is missing three big parts of the equation; 1) You would have to earn more after taxes. 2) ...
by Watty
Wed Apr 21, 2021 7:42 am
Forum: Personal Finance (Not Investing)
Topic: House appraisal in insane market
Replies: 29
Views: 3195

Re: House appraisal in insane market

What is a properties "true value"? It is important to remember that when you are financing a mortgage the purpose of the appraisal is to determine a price that the lender can feel confident that they can sell the house for in a foreclosure. That may be different than what a seller and buy...
by Watty
Tue Apr 20, 2021 10:42 pm
Forum: Personal Finance (Not Investing)
Topic: House appraisal in insane market
Replies: 29
Views: 3195

Re: House appraisal in insane market

As a buyer I would have serious concerns about the asking price if the appraisal came back so low. That tells you that folks are chasing the market. If this were the stock market, I bet most advisers would tell you to never chase a stock. +1 It went under contract for $100K less than asking an appr...
by Watty
Tue Apr 20, 2021 6:25 pm
Forum: Personal Finance (Not Investing)
Topic: Car warranty companies
Replies: 19
Views: 1029

Re: Car warranty companies

One "gotcha" that has not been mentioned yet is that in the fine print of the contract they will likely have a clause that allows the company to buy the car from you at a fair market value(according to their low definition) if it is uneconomical(in their opinion) to repair the car. You the...
by Watty
Tue Apr 20, 2021 6:12 pm
Forum: Personal Consumer Issues
Topic: Sale of Expensive Home--Limit Showing
Replies: 30
Views: 2557

Re: Sale of Expensive Home--Limit Showing

3. No neighbor showings I would really question that since some of them may be reasonable potential buyers who will pay top dollar since they may really want a house in that neighborhood. For example; Some people love a neighborhood but want a larger house, or one that does not need to be remodeled...
by Watty
Tue Apr 20, 2021 5:54 pm
Forum: Personal Consumer Issues
Topic: Sell or Hold Used Car and Buy New?
Replies: 18
Views: 1024

Re: Sell or Hold Used Car and Buy New?

The vehicles we are looking at are in the $30,000 range. Income is around $160,000. All-in expenses are around $7,000 per month. What would you do? To me upgrading to new car with more of the advanced safety features would be an easy choice since it looks like you can easily afford it. My situation...
by Watty
Mon Apr 19, 2021 11:28 pm
Forum: Personal Investments
Topic: Large Age Difference with Younger Spouse = Higher Earner: Planning Considerations for Early Retirement
Replies: 10
Views: 2173

Re: Large Age Difference with Younger Spouse = Higher Earner: Planning Considerations for Early Retirement

Thank you for sharing your insights and advice. My wife is five years older than me but that is a bit different since the life expectancy of males and females are so different. At least statistically you are likely to outlive your husband and you would be then be filing tax returns in the higher si...
by Watty
Mon Apr 19, 2021 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Seeking advice about selling my home and buying another home
Replies: 2
Views: 420

Re: Seeking advice about selling my home and buying another home

Depending on the general trends on housing prices and loans in your area it might be difficult to get a small loan for $50K. Potentially you may get charged a higher rate. There are certain costs in loan origination and processing that make small loans more costly. You might want to call a few loca...
by Watty
Mon Apr 19, 2021 8:35 pm
Forum: Personal Consumer Issues
Topic: swapping honda odyssey to a new one
Replies: 27
Views: 2223

Re: swapping honda odyssey to a new one

Thinking of doing it. Your thoughts ? I am in the middle of a similar deal because the used car market is so crazy. I have an offer from CarMax to buy a three year old Corolla with 25k miles for $400 more than I paid for it three years ago, excluding tax and licence. :shock: I worked out a deal thr...
by Watty
Mon Apr 19, 2021 8:14 pm
Forum: Personal Investments
Topic: Take this annuity?
Replies: 16
Views: 1917

Re: Take this annuity?

I reviewed my annuity contract from Vanguard, and learned that at age 65, I could elect to receive a payment for life (‘Option 1’) of $5.87 per thousand per month, which is $70.4 per thousand per year, or 7.04%. This sounds like a pretty good deal! ...... Can anyone point out holes in my thinking? ...
by Watty
Mon Apr 19, 2021 4:40 pm
Forum: Personal Finance (Not Investing)
Topic: When is a lawyer needed for creating a will?
Replies: 24
Views: 1887

Re: When is a lawyer needed for creating a will?

Our net worth is $5.1M ..... We own a small business that will be sold when we retire which will net us about $1.2M. That is not even close, you need a lawyer. I used LegalZoom and was comfortable with the process but my situation is several orders of magnitude simpler than yours. We have no childr...
by Watty
Mon Apr 19, 2021 7:26 am
Forum: Personal Finance (Not Investing)
Topic: Earthquake Insurance
Replies: 17
Views: 1441

Re: Earthquake Insurance

We live in the SF Bay Area, so the entire area is susceptible to “shaking” depending on where an earthquake might happen. I don't have a good answer for you. I lived in the Bay Area years ago when I was ready to buy my first house. I researched the risk of earthquakes and my best guess what that if...
by Watty
Mon Apr 19, 2021 7:05 am
Forum: Personal Consumer Issues
Topic: Ski Resort Recommendations for the first-timers? (emphasis on resort)
Replies: 59
Views: 3679

Re: Ski Resort Recommendations for the first-timers? (emphasis on resort)

About us: 43M (me), 43F (wife), 12F (daughter) ...... My wife and I both have degenerative joint conditions that will probably limit our ability to ski a lot...but I want to ensure that we experience it while we are physically able to do so. I really don't mean for this to sound snarky but you may ...
by Watty
Mon Apr 19, 2021 6:55 am
Forum: Personal Finance (Not Investing)
Topic: Tales from this insane real estate market
Replies: 449
Views: 57003

Re: Tales from this insane real estate market

We bought our first house in the LA area in 1989. Low inventory, multiple people touring open houses. Not with offers over listing price like now but still a frenzy to buy. We paid $240,000. Immediately went down in value it seemed at the time - three years later we got it reappraised for $190,000 ...
by Watty
Mon Apr 19, 2021 6:41 am
Forum: Personal Finance (Not Investing)
Topic: Bad Work Situation - Can I Retire Leave/Retire
Replies: 27
Views: 4907

Re: Bad Work Situation - Can I Retire Leave/Retire

So we are on COBRA from my old employer for now and then will investigate some short term policies that exclude pre-existing conditions but have good networks. Be very very careful if you do something like that. You may find that some of those plans also have things like low lifetime maximums and d...
by Watty
Sun Apr 18, 2021 7:20 pm
Forum: Investing - Theory, News & General
Topic: Help me get a basic education in cryptocurrency
Replies: 134
Views: 7934

Re: Help me get a basic education in cryptocurrency

I’ve been reading about Bitcoin for a while now and am still clueless. One key thing is to try to figure out just what bitcoin is actually good for. That might be; 1) A store of value. (Not really, it is way too volatile for that even in less developed countries that do not have a good banking syst...
by Watty
Sun Apr 18, 2021 6:44 pm
Forum: Personal Finance (Not Investing)
Topic: Bad Work Situation - Can I Retire Leave/Retire
Replies: 27
Views: 4907

Re: Bad Work Situation - Can I Retire Leave/Retire

Planning on $36,000 a year in social security if we can delay till 67 See this web site to see what it says your optimal Social Security claiming strategy is. https://opensocialsecurity.com/ It varies a lot but typically it will suggest that one spouse start around 62 and that the other spouse dela...
by Watty
Sun Apr 18, 2021 6:08 pm
Forum: Personal Consumer Issues
Topic: Covid Price Surges: Whats good to sell right now?
Replies: 18
Views: 2464

Re: Covid Price Surges: Whats good to sell right now?

Used car prices have skyrocketed while new car prices have basically stayed the same. A clear arbitrage opportunity. Trade up your used car for a new car for very little incremental cost (or even profit) +1 I have an offer from CarMax for my three year old Corolla that is for more than I paid for i...
by Watty
Sun Apr 18, 2021 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Buying Vacation Home with Parent?
Replies: 13
Views: 1328

Re: Buying Vacation Home with Parent?

When you talk to the lawyer be sure that you are prepared for all the twists and turns that life can throw at you like; 1) Parents get divorced, and possibly remarried. 2) One parent dies and the other gets remarried. If they get remarried to someone who is much younger then you could be waiting a l...
by Watty
Sat Apr 17, 2021 7:03 pm
Forum: Personal Investments
Topic: If you miss the 401k rollover period, are you stuck with that provider forever?
Replies: 7
Views: 791

Re: If you miss the 401k rollover period, are you stuck with that provider forever?

The best way to move it is to call the new company(Vanguard, Fidelity, etc) and they will walk you through the process and deal with the old company directly once they have the paperwork authorizing them to move her funds.
by Watty
Sat Apr 17, 2021 6:59 pm
Forum: Personal Consumer Issues
Topic: Temp change in remote location - tell employer?
Replies: 35
Views: 2864

Re: Temp change in remote location - tell employer?

What is your opinion on it? If you have to ask us, then it is likely a good idea to mention it informally with your manager. One thing I would be concerned about is that you could get to where you are going only to find out that the internet connection or cell phone reception is not adequate and th...
by Watty
Sat Apr 17, 2021 5:01 pm
Forum: Personal Consumer Issues
Topic: A/C in the garage
Replies: 23
Views: 2107

Re: A/C in the garage

Is the garage and garage door insulated?

If not then the electric bills might be very high so it would be good to also plan on insulating it. It might be less expensive for her to rent some place to run the business out of.
by Watty
Sat Apr 17, 2021 3:39 pm
Forum: Personal Consumer Issues
Topic: How to locate a photograph on the internet?
Replies: 17
Views: 1725

Re: How to locate a photograph on the internet?

If you have not already done it you can also check on ancestry.com, familysearch.org, or less likely findagrave.com to see if anyone has posted the same picture with more information. Your local library likely has an ancestry.com subscription or you can use a free trial. You might also try searching...
by Watty
Sat Apr 17, 2021 11:38 am
Forum: Personal Finance (Not Investing)
Topic: ACA subsidy cliff now going away! Yay!
Replies: 161
Views: 18174

Important: Check your ACA plan for a possible reduction.

[Thread merged into here --admin LadyGeek] I get a significant subsidy on my ACA healthcare plan and I was just able to get it recalculated with the new law changes to significantly increase the subsidy so I will be paying a lot less out of pocket each month. On Wednesday I got a short email from H...
by Watty
Sat Apr 17, 2021 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Selling a new house with a defective roof - how to proceed?
Replies: 16
Views: 1170

Re: Selling a new house with a defective roof - how to proceed?

With 20/20 hindsight one thing that would have been good was if you had had the house inspected before you closed on your purchase of it. It is not uncommon to have new homes inspected and some people will even have the house inspected at several points during the construction like before the drywal...
by Watty
Sat Apr 17, 2021 9:41 am
Forum: Personal Finance (Not Investing)
Topic: When to transfer vehicle title to Teen?
Replies: 4
Views: 473

Re: When to transfer vehicle title to Teen?

Any reason I shouldn't transfer it to him? I had a similar situation when my son was in college and we kept the car title in our name until he graduated so that he would be covered under our umbrella policy. That also required fairly high limits on the car insurance. That was not cheap but we did n...
by Watty
Sat Apr 17, 2021 12:50 am
Forum: Personal Consumer Issues
Topic: Selling house in 2 yrs: what should I spruce up?
Replies: 14
Views: 1676

Re: Selling house in 2 yrs: what should I spruce up?

Fixing things that are actually broken usually makes sense because if a potential buyer sees even little things that are broken, like a doorknob, they may take that as a sign that the rest of the house has also been poorly maintained. Be very cautious about spending a lot on other cosmetic improveme...
by Watty
Sat Apr 17, 2021 12:38 am
Forum: Personal Finance (Not Investing)
Topic: New vs used car in a strong used car market
Replies: 41
Views: 3149

Re: New vs used car in a strong used car market

I am also considering getting a new Forester this year. I got a monthly subscription for Consumer Reports and their top rankings and scores are; Forester 89 Mazda CX5 83 Honda CRV 82 Kia sportage 81 You may want to check the most recent US News auto ratings. CRV is ranked number one, and the Forest...
by Watty
Fri Apr 16, 2021 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: New vs used car in a strong used car market
Replies: 41
Views: 3149

Re: New vs used car in a strong used car market

One thing to watch out for is that a lot of the new advanced safety features have been phased in over the last few years so a 5 year old used car may be a lot different than a new car with it comes to safety. Toyota made a lot of advanced safety features standard equipment in 2018. Even ten+ years a...
by Watty
Fri Apr 16, 2021 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: What to do next for our savings after maxing out everything?
Replies: 44
Views: 3620

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

What to do next for our savings after maxing out everything? With a user name of "Workaholic" you might want to consider if you are currently saving enough and if it might be time to consider if you should spend some of the extra money on the "now" side of the Now vs Later balan...
by Watty
Fri Apr 16, 2021 4:36 pm
Forum: Personal Consumer Issues
Topic: Selling old car - CarMax etc.
Replies: 65
Views: 5059

Re: Selling old car - CarMax etc.

SlowMovingInvestor wrote: Fri Apr 16, 2021 4:26 pm but the check airbag light is on
Be sure to check if it was in the big airbag recall. You may be able to get the airbag replaced for free.

https://www.nhtsa.gov/recalls
by Watty
Fri Apr 16, 2021 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Spend down cash to bridge to social security?
Replies: 25
Views: 2610

Re: Spend down cash to bridge to social security?

One advantage I saw in spending down cash is that my income in those years would be next to nothing--ergo, hardly any taxes. That could mean that you are in a low tax bracket which could make it a good time to do 401k withdrawals. Most likely the best choice will be to spend money from a mixture of...
by Watty
Fri Apr 16, 2021 1:47 pm
Forum: Personal Investments
Topic: Retirement Plan Review and things I need to learn
Replies: 7
Views: 1264

Re: Retirement Plan Review and things I need to learn

The desire is to do 4.5% WD ($135,000) ..... Tax Rate: 24% Federal, No State Income Tax ..... Expected Social Security: $59,000 (Both of ours combined, I’ll claim at 70.) Be sure to look at your retirement tax brackets. The way Social Security is taxed will complicate it but I doubt that you will h...
by Watty
Fri Apr 16, 2021 1:05 pm
Forum: Personal Finance (Not Investing)
Topic: Fixing a simple tax error from 4 years ago
Replies: 13
Views: 1168

Re: Fixing a simple tax error from 4 years ago

Don't forget your state taxes too. When I have had to file an amended return the tax software handled my federal return pretty painlessly. For the state tax return it was pretty much useless and just printed out instructions on how to file the amended return myself using paper forms. But to make sur...
by Watty
Fri Apr 16, 2021 12:54 pm
Forum: Personal Finance (Not Investing)
Topic: At what salary range to move out of a HCOL state?
Replies: 21
Views: 2130

Re: At what salary range to move out of a HCOL state?

Moving out to another state is an option we are considering, but I should expect a decrease in my annual pay as well. That varies widely with the area you are looking at living in and what field you work in. I retired out of corporate IT and I moved around the country a few times and the salaries d...
by Watty
Fri Apr 16, 2021 10:25 am
Forum: Personal Finance (Not Investing)
Topic: Can I make a Roth for my daughter?
Replies: 31
Views: 3088

Re: Can I make a Roth for my daughter?

A couple of points; 1) I am not sure of the details of the current rules but having the money in her name could reduce any college financial aid that the might qualify for. 2) It might seem obvious but make sure that she knows about and understands the account. People have posted about situations wh...
by Watty
Fri Apr 16, 2021 10:03 am
Forum: Personal Finance (Not Investing)
Topic: 2017 tax records.. Destroy?
Replies: 20
Views: 2121

Re: 2017 tax records.. Destroy?

(dont' worry i keep electronic copies of the return and some key documents like my 5498 to prove roth ira contributions/conversions) Be sure to also keep copies of your W2s at least until you start Social Security. People have posted about finding out that they their Social Security earnings histor...
by Watty
Fri Apr 16, 2021 9:56 am
Forum: Personal Finance (Not Investing)
Topic: OK to rollover during a refinance?
Replies: 1
Views: 135

Re: OK to rollover during a refinance?

Why give Murphy's Law a chance to cause problems?

Doing the refinance should only take around month so I would put the rollover on the back burner until that is done.
by Watty
Fri Apr 16, 2021 9:42 am
Forum: Personal Consumer Issues
Topic: replace front door; Home Depot?
Replies: 13
Views: 1084

Re: replace front door; Home Depot?

Yes to both your questions. But be forewarned, those contractors that work for big box stores are generally not the top shelf type contractor so you may not get the job you were hoping for. Generally, those that do good work, soon move on and open up their own business where they have much more con...
by Watty
Fri Apr 16, 2021 9:17 am
Forum: Personal Investments
Topic: Insane Roth conversion Idea to qualify for max ACA subsidies
Replies: 10
Views: 1180

Re: Insane Roth conversion Idea to qualify for max ACA subsidies

I do not see where it makes any sense because it is impossible to predict what the ACA subsidy numbers will look next year, much less 8 years from now. It might not even exist 8 years from now, which could be either good or bad for you.
by Watty
Fri Apr 16, 2021 8:33 am
Forum: Personal Consumer Issues
Topic: local dealers offering to buy car for more than you paid?
Replies: 35
Views: 2248

Re: local dealers offering to buy car for more than you paid?

Just for some perspective I have a Corolla that I bought new about three years ago. It is a nice car but it is about as uncollectible a car as you could think of. After hearing how crazy the used car market are out of curiosity I got a quote from Carvana to see what they would pay for it and they of...
by Watty
Fri Apr 16, 2021 7:24 am
Forum: Personal Consumer Issues
Topic: can I get boglehead approval for a 70K truck?
Replies: 97
Views: 5401

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

31 y/o, 300-400K/year salary. anybody have any issues with my order of the cyber truck at 70K? One big issue is that from what you said your net worth is pretty low relative to your income. Unless you have a lot of other assets that you did not mention then you need to really figure out just where ...
by Watty
Fri Apr 16, 2021 1:04 am
Forum: Personal Investments
Topic: Going to receive around $1 million - what to do ?
Replies: 38
Views: 6578

Re: Going to receive around $1 million - what to do ?

There is a wiki on how to handle a windfall. https://www.bogleheads.org/wiki/Managing_a_windfall A big point is to just park the money someplace very safe for six months to a year while you come up with a long term plan. I would pay off the car loan and HELOC before doing that. You may also want to ...
by Watty
Fri Apr 16, 2021 12:35 am
Forum: Investing - Theory, News & General
Topic: Move towards a higher stock allocation after a crash
Replies: 67
Views: 3994

Re: Move towards a higher stock allocation after a crash

You are making this too complicated.

If you have a fixed stock and bond asset allocation then you will automatically be selling bonds to buy stocks after a stock market crash.