Search found 1568 matches

by JDCarpenter
Wed Mar 10, 2021 10:57 pm
Forum: Personal Finance (Not Investing)
Topic: Is it worth building your dream house?
Replies: 109
Views: 7049

Re: Is it worth building your dream house?

We [re]built our dream house. Had an exceptional location, and put a 36x43 three story addition with walkout basement beneath it (full stone with slate roof to match original, 2x8 walls, etc. etc.). Financially, a major negative. BUT, we were in our 30s and unexpectedly had to move within a few year...
by JDCarpenter
Mon Mar 08, 2021 10:59 pm
Forum: Personal Finance (Not Investing)
Topic: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.
Replies: 407
Views: 46793

Re: Has anyone see an inheritance not go as planned? I would like to hear stories from others of what can go wrong.

I think the right frame of mind is to assume you won't get anything. Plan for retirement as if you won't inherit a dime. Then when/if it happens and the estate is settled you can re-assess. This has truly been an interesting thread, even for a recovering litigation attorney. Confirms our long-term ...
by JDCarpenter
Wed Mar 03, 2021 10:36 pm
Forum: Personal Investments
Topic: What to do next [after max Roth contribution]?
Replies: 11
Views: 926

Re: What to do next?

How old are you? What do your finances look like?

I'm guessing in your 20s? Starting out with no other debt? Probably put the excess funds into 401k. (Assuming no immediate plans for having children or buying a house, etc.)

Really too many variables....
by JDCarpenter
Mon Mar 01, 2021 11:05 pm
Forum: Personal Finance (Not Investing)
Topic: What are your Lean FIRE, FIRE, and Fat FIRE numbers?
Replies: 307
Views: 25297

Re: What are your Lean FIRE, FIRE, and Fat FIRE numbers?

We never differentiated among these levels, perhaps because we both enjoyed our professions. In any event, our xxx-FIRE number for quitting in our mid-50s was being able to spend 2 times our post-tax, post-children, pre-retirement expenditures.

Obviously, we had/have big plans for travel....
by JDCarpenter
Mon Mar 01, 2021 6:21 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone kept their Amex Platinum or Sapphire Reserve during COVID?
Replies: 67
Views: 5018

Re: Anyone kept their Amex Platinum or Sapphire Reserve during COVID?

I have kept the Chase and never had the Amex. I was able to use the $300 travel credit with no issues as they broadened the rules and I have not spent the pandemic in my basement. I have been traveling and the airport/flying experience is amazing.... The lounge access perk has been useless though a...
by JDCarpenter
Mon Mar 01, 2021 6:15 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone kept their Amex Platinum or Sapphire Reserve during COVID?
Replies: 67
Views: 5018

Re: Anyone kept their Amex Platinum or Sapphire Reserve during COVID?

Workaholic wrote: Mon Mar 01, 2021 6:05 pm

...
You do know you get 3X dining on the CFF and CFU right? And both are no annual fee.
What do they provide on air and other travel? Even in 2020, restaurants were far less than "travel" for us. (I assume, "chase freedom _____") is what you are referring to?)
by JDCarpenter
Mon Mar 01, 2021 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: Might Lose Mega Backdoor In New Role
Replies: 9
Views: 949

Re: Might Lose Mega Backdoor In New Role

Depends upon your tax rate between now and into retirement, and upon the type of investments you have in the taxable account. If you invest in index ETFs or mutual funds and hold them "forever" (or until retirement and possibly lower rates), shouldn't see much in way of taxes. In any event...
by JDCarpenter
Mon Mar 01, 2021 6:01 pm
Forum: Personal Finance (Not Investing)
Topic: Anyone kept their Amex Platinum or Sapphire Reserve during COVID?
Replies: 67
Views: 5018

Re: Anyone kept their Amex Platinum or Sapphire Reserve during COVID?

Although we only traveled 5 months last year, and mostly domestic, we increased our nights dining out. So the restaurants, airfares, and hotels were easily sufficient to keep the sapphire reserve card going.
by JDCarpenter
Wed Feb 24, 2021 4:49 pm
Forum: Personal Investments
Topic: newly retire
Replies: 20
Views: 4043

Re: newly retire

looking at Vanguard High-Yield Corporate Fund Admiral Shares (VWEAX) to maybe help the Vanguard Total Bond Market Index Fund Admiral Shares (VBTLX) any thoughts ? I wouldn't touch it. I see bonds as ballast for equities and a source of spending money in down stock markets. High Yield (aka "jun...
by JDCarpenter
Wed Feb 24, 2021 11:41 am
Forum: Personal Consumer Issues
Topic: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...
Replies: 40
Views: 1960

Re: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...

... We've been pretty satisfied with the 14 Nissan Rogue for seat comfort on long road trips. It would be somewhat larger than the Fit, but still pretty reasonable for maneuver and parking, and maybe an inch or two higher ground clearance for backroads. ... Interesting. We rented a rogue sport betw...
by JDCarpenter
Wed Feb 24, 2021 11:16 am
Forum: Personal Consumer Issues
Topic: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...
Replies: 40
Views: 1960

Re: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...

I don't think the problem is the Fit; the problem is driving 800 miles a day on secondary roads (or interstates for that matter.) Dial it back to 200-300 or so and you're done. It's a road trip: the idea is to stop and look at things you find on the road along the way... Luckily, most days are less...
by JDCarpenter
Tue Feb 23, 2021 10:33 pm
Forum: Personal Consumer Issues
Topic: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...
Replies: 40
Views: 1960

Re: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...

... The real lesson is that it depends on your wife. Find a car you both like for day to day and upgrade with proper seat support from a place like Relax the Back. .... Yep. The "relax the back" seat overlay is helpful. That's the only reason we can consider keeping Fit for 2 more years. ...
by JDCarpenter
Tue Feb 23, 2021 10:30 pm
Forum: Personal Consumer Issues
Topic: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...
Replies: 40
Views: 1960

Re: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...

She does not need to wait for you to hit 200K miles! ... Back issues are not something to just ignore. I had disk issues in 2007, so I took the plunge. Keep the Fit for yourself or short trips. Yeah, she had laminectomy and fusion 6 weeks before retiring in 2017 and missed a week of work/surgeries....
by JDCarpenter
Tue Feb 23, 2021 10:26 pm
Forum: Personal Consumer Issues
Topic: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...
Replies: 40
Views: 1960

Re: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...

We have a Honda Fit and the idea of riding in it for 800 miles sounds excruciating to me! How about a nice sedan like a Camry or an Accord? Hatchback is close to non-negotiable. We lunch from the cooler at rest areas, on the shoulder, or in a park. (We make up for it easily at dinner, even in the m...
by JDCarpenter
Tue Feb 23, 2021 9:32 pm
Forum: Personal Consumer Issues
Topic: Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...
Replies: 40
Views: 1960

Thoughts or suggestions: upgrading from Honda Fit for DW's comfort on long road trips...

Love the Fit, great gas mileage (far better than EPA estimates), easy to park/maneuver in cities and national parks, easy capacity for multimonth roadtrips with big cooler. But, DW has back/sciatica issues, and is talking about my replacing it with a "better" road trip car. Only has 154K m...
by JDCarpenter
Tue Feb 23, 2021 5:04 pm
Forum: Personal Finance (Not Investing)
Topic: Best decision(s) in your financial life
Replies: 167
Views: 13375

Re: Best decision(s) in your financial life

Before just an hour ago or so, I might've put something other than the cliche spouse thing, but my wife just found out today she's getting a surprisingly huge bonus from work and her boss more or less implied that she would be getting a promotion soon. That means she's making more money and acceler...
by JDCarpenter
Sun Feb 21, 2021 9:55 pm
Forum: Personal Finance (Not Investing)
Topic: No tax refund for the first time
Replies: 81
Views: 5019

Re: No tax refund for the first time

... ... I still don’t understand how my tax obligation increased by at least $7,000 from last year. Can $91k increase in income really translate into $7000 tax? Sorry if I sound naive. I am no expert with tax. Isn’t federal tax withholding amount proportional to the income? They would automatically...
by JDCarpenter
Sun Feb 21, 2021 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: HSA best practices-tracking expenses for future reimbursement
Replies: 31
Views: 1752

Re: HSA best practices-tracking expenses for future reimbursement

DW keeps EOBs stapled to receipts and copy of payment in desk drawer. Also track category in quicken. Have drawn down twice (total about 85K), including one interaction with IRS, which we also used BCBS site in successfully responding to. ETA--DW was a physician who was intimately involved with bill...
by JDCarpenter
Sun Feb 21, 2021 9:41 pm
Forum: Personal Finance (Not Investing)
Topic: Sharing with family
Replies: 16
Views: 2154

Re: Sharing with family

Be careful. In my situation, I wouldn't consider it, despite having good relationship with siblings. (Only college grad in family history, lawyer married to doctor and retired early for obviously expensive travel....). My sibs are in strong marriages and have (themselves or spouses) done decently we...
by JDCarpenter
Sun Feb 21, 2021 5:56 pm
Forum: Personal Finance (Not Investing)
Topic: No tax refund for the first time
Replies: 81
Views: 5019

Re: No tax refund for the first time

That extra income caused our bracket to go from 24 to 32%. However my allowance is set to 0. Something doesn’t add up or I am in denial. I never relied upon withholding allowances; in our experience with dual incomes, they will never be accurate. You need to project your tax bill and request additi...
by JDCarpenter
Fri Feb 19, 2021 1:56 pm
Forum: Personal Finance (Not Investing)
Topic: Benefits of Having CMA and Brokerage Account With Merrill Edge
Replies: 7
Views: 696

Re: Benefits of Having CMA and Brokerage Account With Merrill Edge

Not just a CMA, a "guided investing CMA," which of course your rep would enjoy: "* Merrill Guided Investing and Merrill Guided Investing with Advisor have an annual program fee of 0.45% and 0.85% respectively, based on the assets held in the account." https://www.merrilledge.com/...
by JDCarpenter
Thu Feb 18, 2021 5:43 pm
Forum: Personal Finance (Not Investing)
Topic: Social security calculator for retirement age < 62 AND collecting at 62, 67 and 70
Replies: 7
Views: 526

Re: Social security calculator for retirement age < 62 AND collecting at 62, 67 and 70

I've used the calculator below which allows me to do a and b but benefits are calculated only for age 62 (because I am entering retirement age of less than 62) If I recall correctly, you can do a work around on some calculators by entering your "retirement age" as the age you wish to star...
by JDCarpenter
Wed Feb 10, 2021 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: What events might derail your retirement (or plan)?
Replies: 47
Views: 2272

Re: What events might derail your retirement (or plan)?

If one or both of us were to get in the path of a young ambitious prosecutor and imprisoned for life.
by JDCarpenter
Tue Feb 09, 2021 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Bank of America/Merrill Edge - Preferred Rewards
Replies: 790
Views: 176030

Re: Bank of America/Merrill Edge - Preferred Rewards

Has anyone been bumped to the “Wealth Management “ tier recently for having a balance over $250k? I had that previously and I think you get a separate line to call for better support. I’m not sure if they’re only doing it for customers with managed Merrill accounts or not We've been sitting at 250+...
by JDCarpenter
Fri Feb 05, 2021 12:24 am
Forum: Personal Consumer Issues
Topic: International travel insurance
Replies: 20
Views: 1220

Re: International travel insurance

we pay $390 a year for "trekker choice" health insurance, which provides the following coverage: $1,000,000 medical limit. $500,000 medical evacuation benefit. Covers pre-existing conditions for medical services and medical evacuation. Unlimited trips outside the U.S. in a 12 month period ...
by JDCarpenter
Thu Feb 04, 2021 10:25 pm
Forum: Personal Consumer Issues
Topic: International travel insurance
Replies: 20
Views: 1220

Re: International travel insurance

what type of "travel insurance" are they requiring? Health/medical/evac or trip interruption/cancellation insurance? I've seen at least one country requiring the latter, which was particularly inane because the required limits were like 5000 dollars or less. We've had geoblue for several y...
by JDCarpenter
Thu Feb 04, 2021 4:25 pm
Forum: Personal Finance (Not Investing)
Topic: Getting Vanguard money to escrow account?
Replies: 1
Views: 169

Re: Getting Vanguard money to escrow account?

Here is an ongoing discussion of the same issue: viewtopic.php?f=2&t=280847
by JDCarpenter
Sat Jan 30, 2021 11:18 pm
Forum: Personal Finance (Not Investing)
Topic: Direct deposit my salary into my wife's acct, does that protect against future lawsuits?
Replies: 37
Views: 3911

Re: Direct deposit my salary into my wife's acct, does that protect against future lawsuits?

That only ends a number of years past retirement. My understanding is that if a physician was no longer practicing, it was no longer necessary to carry malpractice insurance. Claims of prior malpractice would be insured by whomever the physician's insurer was at the time of the alleged incident, no...
by JDCarpenter
Sat Jan 30, 2021 10:41 pm
Forum: Personal Finance (Not Investing)
Topic: Direct deposit my salary into my wife's acct, does that protect against future lawsuits?
Replies: 37
Views: 3911

Re: Direct deposit my salary into my wife's acct, does that protect against future lawsuits?

That only ends a number of years past retirement. My understanding is that if a physician was no longer practicing, it was no longer necessary to carry malpractice insurance. Claims of prior malpractice would be insured by whomever the physician's insurer was at the time of the alleged incident, no...
by JDCarpenter
Fri Jan 29, 2021 9:04 pm
Forum: Personal Finance (Not Investing)
Topic: Full Coverage vs. Liability only Auto Insurance Coverage
Replies: 11
Views: 725

Re: Full Coverage vs. Liability only Auto Insurance Coverage

Until this week, we had only liability (plus 3 mill umbrella) for over 10 years--including when we bought a new car and drove it off the lot, and had three sons on the policy. But, recently ran into a rental car company in a pretty remote area that wouldn't accept credit card collision coverage... T...
by JDCarpenter
Tue Jan 26, 2021 7:44 pm
Forum: Personal Finance (Not Investing)
Topic: Final Health Care Instructions - no-life-sustaining procedures statement
Replies: 54
Views: 2869

Re: Final Health Care Instructions - no-life-sustaining procedures statement

The language is contradictory at present. In our first set of documents. When our eldest arrived in 1988, we specifically ruled out nutrition and hydration (if no chance, etc.) in our living wills. Had to change my big law firm's stock language, as our then state didn't yet permit such directives. L...
by JDCarpenter
Thu Jan 21, 2021 8:07 pm
Forum: Personal Finance (Not Investing)
Topic: Millionaire kids: Do your parents know you’re rich?
Replies: 54
Views: 5031

Re: Millionaire kids: Do your parents know you’re rich?

As others have noted, "rich" is in the eye of the beholder. To my parents, we were "rich" quite young. Big firm lawyer married to obgyn; first in my family to go to college and none of my sibs did--and they joked about how tight we were with our spending. (Dad and my sibs/in-laws...
by JDCarpenter
Wed Jan 20, 2021 8:36 pm
Forum: Personal Finance (Not Investing)
Topic: Roth Conversion Tax Payment - When?
Replies: 8
Views: 575

Re: Roth Conversion Tax Payment - When?

Agree with equal quarterly payments from taxable accounts. That's what we did the first three years of retirement as we converted to top of 24%. Now, however, we have no taxable accounts, and our TIRAs have grown; nice problem to have, so now we will do a December "conversion" with all (or...
by JDCarpenter
Wed Jan 20, 2021 7:28 pm
Forum: Personal Finance (Not Investing)
Topic: Fed Retiree HSA - Dropping HSABank? Fidelity?
Replies: 5
Views: 422

Re: Fed Retiree HSA - Dropping HSABank? Fidelity?

Not a Fed, but had a similar situation. We transferred the funds from employer's chosen provider immediately after the deposit for the year was made. If you have deposits periodically throughout the year, probably easiest to do it once or twice a year.
by JDCarpenter
Tue Jan 19, 2021 8:49 pm
Forum: Personal Finance (Not Investing)
Topic: Any experience managing credit limits on multiple BoA cards?
Replies: 13
Views: 772

Re: Any experience managing credit limits on multiple BoA cards?

. ... Edited to add : Does anyone have a credit limit on a single BofA credit card in excess of $40K? If so, how high is it? ... We have 42k on our main travel rewards card and 30 (or thereabouts) on the cash rewards card that we opened up back when our sons were in high school--it was their gas ca...
by JDCarpenter
Sun Jan 17, 2021 9:12 pm
Forum: Personal Finance (Not Investing)
Topic: Health Care Costs In Early Retirement
Replies: 32
Views: 4322

Re: Health Care Costs In Early Retirement

Have you reviewed the comments in this fairly extensive ongoing thread? viewtopic.php?f=2&t=336469

As I mentioned there, we guestimated 36k a year and have definitely come in at less than 20k in the first three years.
by JDCarpenter
Sun Jan 17, 2021 6:33 pm
Forum: Personal Finance (Not Investing)
Topic: Should folks who are able be spending more?
Replies: 47
Views: 4448

Re: Should folks who are able be spending more?

I'd hesitate to agree that one should feel obligated to spend more. Situations differ. OTOH, we are continuing to support the travel industry (both domestic and international) to the extent we are allowed to, and continue to seek out attractive restaurants at myriad price points in our destinations....
by JDCarpenter
Sat Jan 16, 2021 3:27 pm
Forum: Personal Finance (Not Investing)
Topic: Options for healthcare during FIRE (but before 65)?
Replies: 141
Views: 10587

Re: Options for healthcare during FIRE (but before 65)?

We have non-ACA policies through tennessee farm bureau (united healthcare runs them per contract). We have been happy, as our biggest concerns are the hypothetical cost of being hit by an uninsured concrete truck (for example), and avoiding rack rate markups on everything else. We looked at TN Farm...
by JDCarpenter
Sat Jan 16, 2021 3:12 pm
Forum: Personal Finance (Not Investing)
Topic: Options for healthcare during FIRE (but before 65)?
Replies: 141
Views: 10587

Re: Options for healthcare during FIRE (but before 65)?

... We looked at TN Farm Bureau health plans ourselves, but a few things gave us pause. .... Any feedback on their underwriting process? Was benign. We just had to permit review of medical records. Our policies had a 6 month preexisting illness exclusion. So we overlapped that period with COBRA jus...
by JDCarpenter
Sat Jan 16, 2021 3:07 pm
Forum: Personal Finance (Not Investing)
Topic: Options for healthcare during FIRE (but before 65)?
Replies: 141
Views: 10587

Re: Options for healthcare during FIRE (but before 65)?

We have non-ACA policies through tennessee farm bureau (united healthcare runs them per contract). We have been happy, as our biggest concerns are the hypothetical cost of being hit by an uninsured concrete truck (for example), and avoiding rack rate markups on everything else. ... What's the lifet...
by JDCarpenter
Fri Jan 15, 2021 7:29 am
Forum: Personal Finance (Not Investing)
Topic: Options for healthcare during FIRE (but before 65)?
Replies: 141
Views: 10587

Re: Options for healthcare during FIRE (but before 65)?

I know health sharing ministries plan are not ACA complaint and have many loopholes, so how do you justify it? Or maybe I should hop into the other thread? My biggest issue is that I balk at budgeting $24k/yr for healthcare. It's ridiculous. That's more than my rent! It is difficult to have a balan...
by JDCarpenter
Thu Jan 14, 2021 10:16 pm
Forum: Personal Finance (Not Investing)
Topic: Options for healthcare during FIRE (but before 65)?
Replies: 141
Views: 10587

Re: Options for healthcare during FIRE (but before 65)?

We have non-ACA policies through tennessee farm bureau (united healthcare runs them per contract). We have been happy, as our biggest concerns are the hypothetical cost of being hit by an uninsured concrete truck (for example), and avoiding rack rate markups on everything else. Mine went up quite a ...
by JDCarpenter
Thu Jan 14, 2021 8:28 pm
Forum: Personal Finance (Not Investing)
Topic: High tax rate...am I missing anything?
Replies: 79
Views: 6509

Re: High tax rate...am I missing anything?

.... I strongly advocate talking with your benefits people and working on additional retirement options. Mega back door roth availability has increased significantly in recent years as more 401k administrators enable them. I succeeded in lobbying for this option at my workplace. While that doesn't ...
by JDCarpenter
Tue Jan 12, 2021 10:13 am
Forum: Personal Finance (Not Investing)
Topic: For those retired or FI, how much do you spend annually?
Replies: 286
Views: 20793

Re: For those retired or FI, how much do you spend annually?

.... FWIW, we spend about twice as much in retirement than when we were working (excluding taxes, which were our biggest expense when working). Our nontravel expenses are just slightly more than the cutoff; travel will easily double [ ambiguity here--I should have said "easily equal," or ...
by JDCarpenter
Sun Jan 10, 2021 7:32 pm
Forum: Personal Finance (Not Investing)
Topic: How to send wire from Fidelity with memo/information?
Replies: 2
Views: 325

Re: How to send wire from Fidelity with memo/information?

I had the same issue last week--couldn't figure out how to wire to son's account that required subsidiary information. Luckily, he had alternative account, but he got hit with a $15 charge for both my wire and dw's...

Look forward to any ideas on how to avoid this.
by JDCarpenter
Sat Jan 09, 2021 9:08 pm
Forum: Personal Consumer Issues
Topic: Tesla [car] purchase any significant downside?
Replies: 150
Views: 9760

Re: Tesla [car] purchase any significant downside?

My nephew loves his model 3. For many people, one or another Tesla model can be a good call. We, however, are still looking at range issues. So far in retirement, each year, we have decided to make multiple 600-850 mile single day trips in the middle of the drive (typically on the way home after a m...
by JDCarpenter
Fri Jan 08, 2021 9:06 pm
Forum: Personal Finance (Not Investing)
Topic: How often do you need to log in to your retirement accounts?
Replies: 43
Views: 2569

Re: How often do you need to log in to your retirement accounts?

Here is a decent thread from a year ago (with a link back to an earlier extensive thread) on "abandoned" financial accounts and states grabbing then under escheat. https://www.bogleheads.org/forum/viewtopic.php?f=2&t=301995&p=4983395&hilit=Pennsylvania+escheat#p4983395 I get DW...
by JDCarpenter
Mon Jan 04, 2021 10:01 pm
Forum: Personal Finance (Not Investing)
Topic: Is Being a Private Banking Client Worth it?
Replies: 151
Views: 54808

Re: Is Being a Private Banking Client Worth it?

... BofA has what it calls Private Banking, but it is completely opaque about what you get. As is JP Morgan Private Bank. As a boglehead, I am much more comfortable with "here is what you get and this is the price" than I am with "come to the office, meet with a banker and let's disc...