Comments on: Question(s) of the Day – Personal Finance http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/ A personal finance blog dedicated to discussing such topics as budgeting, asset allocation, 401K, IRA, cash flow, insurance, financial planning, portfolio management, and other areas in personal finance. Fri, 25 May 2012 12:41:29 +0000 hourly 1 http://wordpress.org/?v= By: ciwood http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-291792 ciwood Mon, 21 Apr 2008 19:39:06 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-291792 All great topics but my number one is evaluating Long Term Care Insurance!!! All great topics but my number one is evaluating Long Term Care Insurance!!!

]]> By: Randy http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-290161 Randy Sun, 20 Apr 2008 02:04:54 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-290161 For me it is understanding and creating an allocation strategy across multiple accounts (401ks, IRAs, brokerage account, etc.) The research is the hardest part, based on what is offered for each account and then trying to creat an excel model that shows where everything sits and then helps me drive it to the desired allocation with recognition of the securities/funds/etc. avaiable in each account. Ad the layering of understanding the fees and how dividends affect you in tax-sheltered vs non-tax sheltered accounts. Uggh... Been working on it for a month, and I think I have it worked out. Just to update the numbers and let it chug... For me it is understanding and creating an allocation strategy across multiple accounts (401ks, IRAs, brokerage account, etc.) The research is the hardest part, based on what is offered for each account and then trying to creat an excel model that shows where everything sits and then helps me drive it to the desired allocation with recognition of the securities/funds/etc. avaiable in each account. Ad the layering of understanding the fees and how dividends affect you in tax-sheltered vs non-tax sheltered accounts.

Uggh… Been working on it for a month, and I think I have it worked out. Just to update the numbers and let it chug…

]]> By: Foobarista http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-290132 Foobarista Sun, 20 Apr 2008 01:33:46 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-290132 For me, it's _realistic_ advice about how much to save for retirement. There's a whole lot of "rule of thumb" advice, but it varies enormously. Also, much of it is truly silly, such as the "80% rule": "you gotta have 80% of your income to keep your lifestyle". What if you save half your current income? Also, for me, good tax planning is helpful. In general, the problem is that net worth-wise, I'm in a troublesome area where I'm too rich and too knowledgeable to want "advice" from some kid with a computer, a sales quota, and a two-week course in finance, but am not quite rich enough to interest "wealth manager" types. For me, it’s _realistic_ advice about how much to save for retirement. There’s a whole lot of “rule of thumb” advice, but it varies enormously. Also, much of it is truly silly, such as the “80% rule”: “you gotta have 80% of your income to keep your lifestyle”.

What if you save half your current income?

Also, for me, good tax planning is helpful.

In general, the problem is that net worth-wise, I’m in a troublesome area where I’m too rich and too knowledgeable to want “advice” from some kid with a computer, a sales quota, and a two-week course in finance, but am not quite rich enough to interest “wealth manager” types.

]]> By: DB http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-289810 DB Sat, 19 Apr 2008 21:08:46 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-289810 The most common problem that I face is managing my personal budget....Haven't found anything that would tell me how I should manage my money. Heard a lot about mint.com. Has anyone used it...? Can anyone share their opinions on it... The most common problem that I face is managing my personal budget….Haven’t found anything that would tell me how I should manage my money. Heard a lot about mint.com. Has anyone used it…? Can anyone share their opinions on it…

]]> By: Rob http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-289677 Rob Sat, 19 Apr 2008 18:47:50 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-289677 Figuring out the tax implications when I need to sell certain mutual funds to rebalance my portfolio. I'm always afraid I'll push us into the next tax bracket. Also figuring out the future implications of taxable and tax-deferred investments. Figuring out the tax implications when I need to sell certain mutual funds to rebalance my portfolio. I’m always afraid I’ll push us into the next tax bracket.

Also figuring out the future implications of taxable and tax-deferred investments.

]]> By: Subba from Boston http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-289584 Subba from Boston Sat, 19 Apr 2008 17:14:27 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-289584 Figuring out how much I need from retirement and if I am doing reasonably well on track. All my 401k accounts seem to have some tool to help with this, but 1) I need to guess what inflation will be like 2) Mutual fund companies have a vested interest in us investing more so I am not sure if there is some bias built into their tools. For me the bigger issue is I am a (legal) immigrant and plan to move back to my country at some point. Just making sure the falling dollar does not eat into my savings is another big concern. Could you cover anything specific immigrants should be concerned about specifically macro issues, if they plan to move back at some point? Figuring out how much I need from retirement and if I am doing reasonably well on track.
All my 401k accounts seem to have some tool to help with this, but
1) I need to guess what inflation will be like
2) Mutual fund companies have a vested interest in us investing more so I am not sure if there is some bias built into their tools.

For me the bigger issue is I am a (legal) immigrant and plan to move back to my country at some point. Just making sure the falling dollar does not eat into my savings is another big concern. Could you cover anything specific immigrants should be concerned about specifically macro issues, if they plan to move back at some point?

]]> By: steve http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-288870 steve Sat, 19 Apr 2008 12:07:53 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-288870 I think the hardest thing to understand is risk. How much risk should I take with money saved to upgrade to a bigger house in the next couple years? How much risk is sufficient to fully fund my retirement with my current savings rate? Also deciding whether to put money in a Roth IRA or a trad. IRA after fully funding my 401k. How am I supposed to know what will happen with tax rates in the future? I think the hardest thing to understand is risk. How much risk should I take with money saved to upgrade to a bigger house in the next couple years? How much risk is sufficient to fully fund my retirement with my current savings rate?

Also deciding whether to put money in a Roth IRA or a trad. IRA after fully funding my 401k. How am I supposed to know what will happen with tax rates in the future?

]]> By: Chad http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-288207 Chad Sat, 19 Apr 2008 07:26:05 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-288207 my biggest hurdle is that I have been inflicted with "Stuffitis" I love stuff.. Having said that buying a little "stuff" now and then aint evil, my problem is my internal red faced grocery store kid starts screaming for this new toy or that new toy and I am having to constantly tell him to NO you cant buy it right now, you're broke and to SHUT UP!!!... That is the hardest part.. The rest I have been able to grasp pretty easily.. Personal Finance isnt Complicated but it can be difficult... my biggest hurdle is that I have been inflicted with “Stuffitis” I love stuff.. Having said that buying a little “stuff” now and then aint evil, my problem is my internal red faced grocery store kid starts screaming for this new toy or that new toy and I am having to constantly tell him to NO you cant buy it right now, you’re broke and to SHUT UP!!!… That is the hardest part..

The rest I have been able to grasp pretty easily..

Personal Finance isnt Complicated but it can be difficult…

]]> By: VMH http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-287801 VMH Fri, 18 Apr 2008 22:50:59 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-287801 The hardest thing about personal finance - Knowing how much to save for retirement and am I saving enough? No financial calculator I have ever seen gives me an answer I really like. The hardest part is trying to determine how much I will need. So I save as much as I can but sometimes I think I am saving too much, sometimes I think I am not saving enough. The hardest thing about personal finance – Knowing how much to save for retirement and am I saving enough? No financial calculator I have ever seen gives me an answer I really like. The hardest part is trying to determine how much I will need.

So I save as much as I can but sometimes I think I am saving too much, sometimes I think I am not saving enough.

]]> By: George http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/comment-page-1/#comment-286936 George Fri, 18 Apr 2008 15:06:04 +0000 http://allfinancialmatters.com/2008/04/17/questions-of-the-day-personal-finance/#comment-286936 Figuring out if we will run out of money, and asset allocation. I just finished a pretty good read called Winning Investment Strategy" by Larry Swedroe and he has some good advice asd to balancing risk vs reward. He is big on TIPS (treasury inflation protected securities). My particular case is that I am retired at 68 whereas my wife is still working and she is 52. So I get the benefit of being covered under her medical plan. The burning issue for us is when can she retire ? Two planning packages say we have enough right now, whereas one other says not enough. I have been retired for about 2 years and have yet to run out of things to be interested in. Figuring out if we will run out of money, and asset allocation.
I just finished a pretty good read called Winning Investment Strategy” by Larry Swedroe and he has some good advice asd to balancing risk vs reward. He is big on TIPS (treasury inflation protected securities).
My particular case is that I am retired at 68 whereas my wife is still working and she is 52.
So I get the benefit of being covered under her medical plan.
The burning issue for us is when can she retire ?

Two planning packages say we have enough right now, whereas one other says not enough.
I have been retired for about 2 years and have yet to run out of things to be interested in.

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