Search found 201 matches

by Lars_2013
Sat Feb 20, 2021 7:39 pm
Forum: Personal Finance (Not Investing)
Topic: Revealing net worth
Replies: 251
Views: 16553

Re: Revealing net worth

In order to talk my parents out of setting up an overly complicated charitable remainder trust and instead leave their money directly to charities, I shared with them my assets, annual savings, and annual spending (which is lower than my annual savings). Disclosing this information had the intended ...
by Lars_2013
Tue Sep 29, 2020 7:22 pm
Forum: Personal Finance (Not Investing)
Topic: How to hire a probate attorney in Virginia
Replies: 16
Views: 982

Re: How to hire a probate attorney in Virginia

Just FYI, courts in my part of Virginia (not the same city) are way backed up for probate appointments due to the closures/modifications for COVID and other factors. In a case I'm familiar with, as of mid-August the first available appointment the probate office was November. So maybe call the court...
by Lars_2013
Sun Sep 20, 2020 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Federal Reserve average mortgage rate data
Replies: 6
Views: 354

Re: Federal Reserve average mortgage rate data

Hi, Does the Federal Reserve publish current average mortgage rate data online somewhere? I've searched but can't find. Like for 30-Year or 15-Year Fixed Rate mortgages. I know that Bankrate publishes data from a national survey of mortgage lenders. I was just curious how the Federal Reserve data w...
by Lars_2013
Fri Sep 18, 2020 3:04 pm
Forum: Investing - Theory, News & General
Topic: what percent of retirement should be invested in tax deferred vs tax free accounts?
Replies: 39
Views: 3335

Re: what percent of retirement should be invested in tax deferred vs tax free accounts?

There is significant asymmetric risk in the decision as to which type of contribution to make. The short explanation is that if you wind up under-saving, you'll be better off with tax-deferred contributions, whereas if you over-save, you'll have enough money no matter which type of contribution you...
by Lars_2013
Fri Sep 18, 2020 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: Elder abuse? Elderly woman sold home for far less than market value
Replies: 50
Views: 4891

Re: Elder abuse? Elderly woman sold home for far less than market value

I (and everyone else in my neighborhood) get postcards and letters on a regular basis offering to buy our house "for cash, any condition!" These are obvious attempts by flippers to find houses they can buy for under the true value because long-time homeowners may not know the true value of...
by Lars_2013
Sun Sep 06, 2020 1:02 pm
Forum: Personal Finance (Not Investing)
Topic: Buying vs. Renting Principles
Replies: 233
Views: 21594

Re: Buying vs. Renting Principles (Sticky Thread Request)

US median household income is $61,937. So median American should only buy a $124k home? Median US hone price is $320k. Only 12% of US homes were under $125k. US individual median income is $33,706, guess single people can't buy a home at all. https://www.statista.com/statistics/505291/home-purchase...
by Lars_2013
Fri Sep 04, 2020 4:28 pm
Forum: Investing - Theory, News & General
Topic: The “nuts and bolts” of paying off a mortgage with bonds [Impact to AA & Glidepath]
Replies: 38
Views: 2639

Re: The “nuts and bolts” of paying off a mortgage with bonds [Impact to AA & Glidepath]

A month and a half ago I had a 70/30 stock/bond portfolio in the low/mid-six digits [with some in taxable and some in retirement accounts] and a mortgage that was a little more than half the amount of bonds I was holding. I sold stock mutual funds/etfs in my taxable account up to the amount needed t...
by Lars_2013
Sun Aug 30, 2020 3:27 pm
Forum: Personal Investments
Topic: Need help deciding whether to pay off mortgage
Replies: 23
Views: 2648

Re: Need help deciding whether to pay off mortgage

Thanks for the response -- my thought was that if my effective rate (after tax deduction) is somewhere around 2%, that's target inflation (what economists hope to accomplish). So not really banking on inflation, but just that it could be a good thing if it stays at or goes above 2%. I paid off my 3...
by Lars_2013
Sun Aug 23, 2020 9:31 am
Forum: Personal Consumer Issues
Topic: Early September Hiking/Camping Vacation. Risk smoky conditions of CO or heat and humidity of Appalachian Mountains?
Replies: 44
Views: 3322

Re: Early September Hiking/Camping Vacation. Risk smoky conditions of CO or heat and humidity of Appalachian Mountains?

We do not want to drive too far so probably would not want to visit much further North than Virginia. Not sure where the mountains are the most impressive as far as remoteness, scenery, and the most likely to not be too hot and steamy for a good night sleep outside. The farther southwest you get in...
by Lars_2013
Wed Jun 10, 2020 4:37 pm
Forum: Personal Finance (Not Investing)
Topic: Charitable Giving
Replies: 28
Views: 1767

Re: Charitable Giving

The link livesoft posted has the answer about $50 grants to charities and the various DAF options. I have a DAF at Schwab Charitable that I use to "bunch" donations for tax purposes, and it also is definitely easier than writing checks or doing online credit card donations for each organiz...
by Lars_2013
Fri May 29, 2020 3:23 pm
Forum: Personal Consumer Issues
Topic: Carolina/Virginia Summer Vacation
Replies: 56
Views: 3234

Re: Carolina/Virginia Summer Vacation

Not sure if your heart is set on Shenandoah or you have a particular reason for picking it, but I'll 2nd or 3rd the suggestion to consider hiking the trails off the Blue Ridge Parkway instead. Same parkway experience as SNP with the overlooks, etc, but the trails are less crowded bc it's farther fro...
by Lars_2013
Sat May 16, 2020 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Do you need to worry about receiving college financial aid in 15 years if...
Replies: 28
Views: 2538

Re: Do you need to worry about receiving college financial aid in 15 years if...

People on this board tend to focus way to hard on financial aid. There is a small demographic that gets it - low income families with exceptionally high achievement kids. Not BWRK (bright well-rounded kids), but exceptional kids. Because only the top schools can afford to provide grant aid as oppos...
by Lars_2013
Mon Mar 30, 2020 9:13 pm
Forum: Personal Finance (Not Investing)
Topic: Do children need a social security number in order to receive a child payment under the recently passed stimuls package?
Replies: 16
Views: 1340

Re: Do children need a social security number in order to receive a child payment under the recently passed stimuls pack

Under the recently passed stimulus package, adults receive $1,200 ($2,400 for a married couple), plus $500 per dependent child. Obviously, adults need a social security number to receive payment but, would an individual need a social security number for a one year old child if he/she wanted to rece...
by Lars_2013
Tue Dec 31, 2019 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: How does $78,750 capital gains bracket work?
Replies: 5
Views: 844

Re: How does $78,750 capital gains bracket work?

The qualified dividends / long-term capital gains stack on top of the ordinary income. So in your example, each dollar of ordinary income pushes a dollar of qualified investment income into the 15% bracket. See, for example, this explanation: https://www.kitces.com/blog/long-term-capital-gains-bump-...
by Lars_2013
Sun Dec 29, 2019 12:34 pm
Forum: Personal Consumer Issues
Topic: Census "American Community Survey"??
Replies: 12
Views: 1158

Re: Census "American Community Survey"??

You can call your regional Census office to verify the legitimacy of the form your relative received. No, in reality, they're not going to prosecute your relative if it's not completed. And yes, filling it out is a public service that improves the accuracy of academic research and the implementation...
by Lars_2013
Thu Oct 31, 2019 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: [Just got married] Looking for ways to cut down on my budget
Replies: 80
Views: 7183

Re: How do people live on an average household income of 60K? Looking for ways to cut down on my budget

My partner and I are DINKs, so no child-related expenses. That said, we spend a lot less than you in many budget areas to live in a metro area with a median home price of $235,000 according to Zillow (so, about the U.S. average). Not counting charitable giving, taxes, and retirement savings, our spe...
by Lars_2013
Sun Oct 13, 2019 10:44 am
Forum: Personal Finance (Not Investing)
Topic: What % and for how long do you have to save to replace income net ofsaving?
Replies: 17
Views: 2441

Re: What % and for how long do you have to save to replace income net ofsaving?

For simple assumptions, this calculator lets you put in different annual return and withdrawal rate assumptions if you click on "show more options." http://networthify.com/calculator/early ... alRate=3.5
by Lars_2013
Thu Sep 05, 2019 7:50 pm
Forum: Personal Consumer Issues
Topic: Pre-paid Funeral Expenses
Replies: 66
Views: 4474

Re: Pre-paid Funeral Expenses

My grandparents were told while they were still living, much to their disappointment, that their bodies were not wanted by "science" (which I think probably means they weren't wanted by the local medical schools / research institutions). They ended up choosing cremation. The fact that they...
by Lars_2013
Thu May 30, 2019 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Buying a home and renting out the extra bedrooms
Replies: 22
Views: 2658

Re: Buying a home and renting out the extra bedrooms

I did this in my 20s and it was a good choice. I did buy a house that I could afford on my own in case my tenants flaked, etc. (It sounds like you could easily afford the place on your own if you so chose, so you have this covered.) You'll only owe income taxes on the net profit from renting a part ...
by Lars_2013
Wed May 29, 2019 7:46 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford this 2.3 million dollar home?
Replies: 273
Views: 30453

Re: Can I afford this 2.3 million dollar home?

As others have said, this is really a question of debt to income ratio. You are talking about a house that is around 2x your annual salary. My loan is around 3x my salary, so that said you can afford it using the math I use for affordability. Lots of technical questions on here about stairs, and cu...
by Lars_2013
Thu May 09, 2019 8:29 pm
Forum: Personal Consumer Issues
Topic: Tired of a reel mower
Replies: 42
Views: 4345

Re: Tired of a reel mower

We have a Black & Decker electric mower with a removable battery that we bought in Aug 2013 after our prior mower (which had an integrated battery) was stolen. The battery seems to still be going fine. The battery is huge and heavy, so I'm guessing it's not lithium ion. The underside of the mowe...
by Lars_2013
Wed May 08, 2019 8:00 pm
Forum: Personal Consumer Issues
Topic: Good town to stop on I-81
Replies: 42
Views: 3803

Re: Good town to stop on I-81

As far as I'm concerned the whole stretch of I-81 in Virginia is a series of surprisingly nice towns (maybe I just had low expectations before getting to know them better). If you're looking smaller, Strasburg (near where I-66 east meets I-81) is adorable and has some cute (from the outside) B&B...
by Lars_2013
Sun May 05, 2019 8:56 pm
Forum: Personal Investments
Topic: OH no, ANOTHER "Should I pay off my Mortgage with Taxable acct" question, with a bit of a twist?
Replies: 40
Views: 4635

Re: OH no, ANOTHER "Should I pay off my Mortgage with Taxable acct" question, with a bit of a twist?

As mentioned, upon retirement I anticipate between approximately $3,100 and $3,500 a month in pension income. Do you know what the income levels are to avoid capital gains taxes? Granted there is a great chance it will be different 12 years from now. If you're single and your taxable income is unde...
by Lars_2013
Tue Apr 09, 2019 8:13 pm
Forum: Personal Finance (Not Investing)
Topic: How do you find a non-profit job?
Replies: 4
Views: 577

Re: How do you find a non-profit job?

Are there nonprofits that whose mission you agree with and that perhaps you've been supporting financially? I'd look around on their websites for job openings and, whether or not they have something open, request an informational interview with someone in leadership to chat about your interests, the...
by Lars_2013
Fri Mar 29, 2019 7:50 pm
Forum: Personal Consumer Issues
Topic: Lifecare community - worth it?
Replies: 33
Views: 2581

Re: Lifecare community - worth it?

Some CCRCs will only accept new residents at the Independent Living level, the higher levels of care being intended for residents to age into. One argument to get these "younger" elders to move in is that they will have opportunities to build a circle of friends among the other residents....
by Lars_2013
Fri Mar 29, 2019 5:47 pm
Forum: Personal Consumer Issues
Topic: Lifecare community - worth it?
Replies: 33
Views: 2581

Re: Lifecare community - worth it?

I think they make sense if you're at an advanced age or health status where the availability of restaurants and other services on-site, someone who will check on each resident each day (using a system to make sure you've opened the door by a certain time of day), activities that you can get to witho...
by Lars_2013
Sun Mar 17, 2019 7:50 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone from Maryland? How property tax affects MD taxes
Replies: 3
Views: 482

Re: Anyone from Maryland? How property tax affects MD taxes

Here's the official website from the State of Maryland on the credits. It's fairly straight-forward. https://dat.maryland.gov/realproperty/P ... ogram.aspx

If your property tax is $10k, my guess is your gross household income is over the $60k limit for relief.
by Lars_2013
Sun Mar 10, 2019 7:05 pm
Forum: Personal Investments
Topic: Generating income from Amazon Stock, raising cost basis and more
Replies: 8
Views: 851

Re: Generating income from Amazon Stock, raising cost basis and more

Why do you need to raise the cost basis? Assuming Amazon continues to not pay dividends, why not just sell whatever number of shares you desire to generate the income you want rather than raising the tax basis on all of the funds?
by Lars_2013
Sat Mar 09, 2019 2:30 pm
Forum: Investing - Theory, News & General
Topic: Grantham: US will return 2% real next 2 decades
Replies: 173
Views: 18889

Re: Grantham: US will return 2% real next 2 decades

Well, that would be no good. I need 4% returns to retire in 15 years. 2019: $75,000 * 1.04 + $20,000 = $98,000 2020: $98,000 * 1.04 + $24,000 = $125,920 2021: $125,920 * 1.04 + $24,000 = $154,956 2022: $154,956 * 1.04 + $24,000 = $185,154 2023: $185,154 * 1.04 + $24,000 = $216,560 2024: $216,560 * ...
by Lars_2013
Sun Mar 03, 2019 4:30 pm
Forum: Personal Finance (Not Investing)
Topic: Should we move
Replies: 24
Views: 2646

Re: Should we move

The main problem I see with the new house that's a shorter commute for you is that it's (effectively) a longer commute for your stay-at-home spouse every time she needs to run to the grocery store, etc. With 2 or 3 kids in the car. Unless you're going to take on more of the errands with some of your...
by Lars_2013
Sat Aug 25, 2018 11:22 am
Forum: Investing - Theory, News & General
Topic: IRA contribution limits
Replies: 4
Views: 1417

Re: IRA contribution limits

The limits are adjusted for cost-of-living with the caveat that they're rounded down (I believe) to the nearest $500. I think the COLA is required to be calculated similarly to the Social Security COLA, which uses CPI-W.
by Lars_2013
Sun Aug 19, 2018 1:40 pm
Forum: Personal Investments
Topic: Sell taxable to increase basis?
Replies: 5
Views: 497

Re: Sell taxable to increase basis?

TomatoTomahto beat me to it. Check out the wiki article on tax-gain harvesting . Looks like that article needs some updating for the new tax law. Rather than saying "Up to the top of the 15% bracket, in order to take advantage of the 0% capital gains tax rate for this bracket" it should s...
by Lars_2013
Mon Apr 09, 2018 8:40 pm
Forum: Personal Consumer Issues
Topic: Anyone tried a sunrise alarm clock?
Replies: 55
Views: 6811

Re: Anyone tried a sunrise alarm clock?

I've had the Philips HF 3520 for 5 years. I don't like using it as a bedside light in the evening, but it does a great job in the morning. The light itself sometimes isn't quite enough to get me up, but when the bird chirping starts I'm not startled awake like with a regular alarm - so I think the ...
by Lars_2013
Sun Mar 25, 2018 5:01 pm
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 4677

Re: SE Washington DC job - where to live?

Falls Church City, speaking as a resident, is low crime, walkable, family friendly, excellent schools, and very civic minded. A modern version of Mayberry. Yes, Falls Church is one of the highest-income localities in the country and has excellent schools. But it's not where I'd recommend a 20-somet...
by Lars_2013
Sun Mar 25, 2018 4:59 pm
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 4677

Re: SE Washington DC job - where to live?

Unless she really wants to live by herself, I suggest she reach out to her new employer to see if they have a network for connecting staff to housemates and maybe rooms for rent in homes of other staff. I don't know any young adults in the DC area who live by themselves because it's simply too expe...
by Lars_2013
Wed Mar 21, 2018 9:02 am
Forum: Personal Consumer Issues
Topic: SE Washington DC job - where to live?
Replies: 55
Views: 4677

Re: SE Washington DC job - where to live?

Unless she really wants to live by herself, I suggest she reach out to her new employer to see if they have a network for connecting staff to housemates and maybe rooms for rent in homes of other staff. I don't know any young adults in the DC area who live by themselves because it's simply too expen...
by Lars_2013
Fri Feb 16, 2018 9:00 pm
Forum: Personal Consumer Issues
Topic: Summer Camps in Maine
Replies: 6
Views: 893

Re: Summer Camps in Maine

I'm not sure what experience your kids are going for in wanting a Maine camp, since as others noted there's a lot of variety. The New England camp about which I've heard the consistently best reviews (from friends who were campers, counselors, and parents) is Farm & Wilderness, but that might be...
by Lars_2013
Thu Jan 25, 2018 11:54 am
Forum: Investing - Theory, News & General
Topic: The Power of Working Longer
Replies: 185
Views: 21822

Re: The Power of Working Longer

This is just bad math. The people who created it should be ashamed that they would publish such blatant lies. They claim 6months = 1% savings? They are saying that retiring 5 years later will allow you to save 10% less of your salary per year. That is just fiction. I can assure you that if you can ...
by Lars_2013
Wed Jan 24, 2018 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: Impact of "name change" on financial accounts?
Replies: 13
Views: 1170

Re: Impact of "name change" on financial accounts?

An immigration lawyer is probably who you need to talk to. That said, I would guess that if she's living/working in the U.S. with a foreign passport and a green card that have MiddleName Firstname Lastname, it's going to be a lot of work / money to get that changed and it will be easiest to get othe...
by Lars_2013
Sun Jan 14, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Uber experience as worker?
Replies: 16
Views: 2152

Re: Uber experience as worker?

MMM wrote a pretty detailed review of his experiment driving for Uber: http://www.mrmoneymustache.com/2017/11/22/mr-money-mustache-uber-driver/ FWIW, most drivers in my town drive for both Uber and Lyft and most report that they like Lyft better. They say Lyft treats their drivers in a more upfront ...
by Lars_2013
Sun Jan 14, 2018 10:09 am
Forum: Personal Consumer Issues
Topic: Looking for a reasonably priced, safe international destination
Replies: 107
Views: 8606

Re: Looking for a reasonably priced, safe international destination

I was thinking Iceland. Any other destinations that fit this bill? With little kids, I'm not sure I'd classify Iceland as a safe destination. It's rough terrain and tourists sometimes die there (arguably from doing stupid things, but little kids don't have a lot of common sense). It's one place whe...
by Lars_2013
Thu Jan 04, 2018 10:15 pm
Forum: Personal Finance (Not Investing)
Topic: Timing tax-deferred contributions when also bunching deductible expenses
Replies: 8
Views: 733

Re: Timing tax-deferred contributions when also bunching deductible expenses

I have a similar situation near 12%/22% bracket line, except I'll probably only itemizing every 4-5 years. My goal is to almost completely fill the 12% ordinary income tax (0% qualified dividends/capital gains) bracket while not exceeding it each year. In order to stay in the 12% ordinary income tax...
by Lars_2013
Wed Dec 27, 2017 10:30 am
Forum: Personal Consumer Issues
Topic: Diamonds are forever.
Replies: 94
Views: 11960

Re: Diamonds are forever.

Also not sure about how best to "upgrade" with DW being somewhat superstitious about just wearing a new ring. Does DW actually want this "upgrade" or is she happy with her existing ring? A big bling-y ring will cause people to make all sorts of assumptions about her, which she m...
by Lars_2013
Wed Dec 27, 2017 9:20 am
Forum: Personal Finance (Not Investing)
Topic: TurboTax Prices
Replies: 302
Views: 45097

Re: TurboTax Prices

TurboTax Premier (fed + efile + state) is currently $55 on Amazon. Last year I think that was the lowest it got.
by Lars_2013
Wed Dec 27, 2017 9:14 am
Forum: Personal Investments
Topic: Can I afford a $600-650k house?
Replies: 60
Views: 9824

Re: Can I afford a $600-650k house?

DC area, house prices continue to increase and were not hit too hard in the last recession. This is in large part because the big stimulus bill in 2009 (ARRA) helped prop up employment in the DC area, which in turn helped drive population growth in the area during the recession, buoying home prices...
by Lars_2013
Tue Dec 26, 2017 9:18 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1550

Re: Problem donating VTSAX shares to Schwab Charitable

I just got off the phone with Vanguard and they said the reason they sold the shares and cut a check was because the delivery instructions they received from Schwab didn't include the DAF number and "usually" when it doesn't include a DAF number that means a check is supposed to be sent. I...
by Lars_2013
Sat Dec 23, 2017 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Will you donate less to Charity?
Replies: 109
Views: 10145

Re: Will you donate less to Charity?

I'm among the many folks who will no longer benefit from itemizing in 2018 and the following several years, at least. I've set up and am pre-funding a DAF with 4-5 years worth of charitable donations precisely because I don't want to give less to charity in future years and know that many of the sma...
by Lars_2013
Sat Dec 23, 2017 10:05 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1550

Re: Problem donating VTSAX shares to Schwab Charitable

...when I want to contribute some my appreciated shares of Vanguard Admiral funds held in my Schwab taxable account to my Schwab DAF, it is smooth as silk to contribute the shares I want to contribute, because it is all within Schwab at that point. Yeah, through this process I'm definitely getting ...
by Lars_2013
Sat Dec 23, 2017 10:03 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1550

Re: Problem donating VTSAX shares to Schwab Charitable

In the future initiate the transfer at Vanguard not Schwab Charitable. Use Vanguard's form for charitable contribution of securities and put the transfer data provided by Schwab Charitable onto Vanguard's form. Call Vanguard immediately (probably Tuesday). I don't know if they can reverse and corre...
by Lars_2013
Sat Dec 23, 2017 9:33 am
Forum: Personal Investments
Topic: Problem donating VTSAX shares to Schwab Charitable
Replies: 19
Views: 1550

Problem donating VTSAX shares to Schwab Charitable

In November I set up a DAF at Schwab Charitable and completed their Transfer of Assets form to ask them to transfer a certain number of shares of Vanguard Total Stock Market admiral shares (held at Vanguard) from a certain lot (which had my lowest cost basis) to my new DAF at Schwab (using section 3...