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Re: Any classic car owners here?

This is a hobby. Don't think of it as an investment. Some folks manage to sell their vehicles for what they bought them for. The best shot to do that is to buy the car finished, rather than have one restored. Estates sell off finished cars and since the owner isn't available to help market it, they...
by Bacchus01
Sat Apr 25, 2015 9:30 am
 
Forum: Personal Consumer Issues
Topic: Any classic car owners here?
Replies: 19
Views: 1435

Re: Any classic car owners here?

As others have said, if you are just buying a car for pleasure, it's not an investment. It's a hobby. Enjoy it. The cars "can" be very expensive to maintain. The more rare, the more costly it's going to be. Late 60's to early 70's Big 3 cars are actually pretty cheap to maintain. There are...
by Bacchus01
Sat Apr 25, 2015 9:24 am
 
Forum: Personal Consumer Issues
Topic: Any classic car owners here?
Replies: 19
Views: 1435

Re: Compare 10/1 ARM vs 30 yr

Strafe has it right. Seems like a no-brainer. You need to look at what possibly happens after year 10 to see where the breakeven. I haven't done the math, but I'd bet it's longer then year 12-13. When I have done this analysis, I looked at 5/1 ARMs vs 30 yrs. Rate spread was bigger, however. I have ...
by Bacchus01
Sat Apr 25, 2015 9:16 am
 
Forum: Personal Finance (Not Investing)
Topic: Compare 10/1 ARM vs 30 yr
Replies: 4
Views: 412

Re: What rate of return do you use when planning for retirem

Pre-retirement I use scenarios between 15-19%, but that includes contributions.

Post retirement I use 5% real
by Bacchus01
Thu Apr 23, 2015 6:46 am
 
Forum: Investing - Theory, News & General
Topic: What rate of return do you use when planning for retirement?
Replies: 59
Views: 4510

Re: What age did your Net Worth first equal 10,000x your Wei

Ironically, I'm 41 and weigh 180lbs. We just passed 10Kx my weight this month. Yep, just within the past few weeks.

Now, adding my wife's weight of 125, and we'll be a while.
by Bacchus01
Wed Apr 22, 2015 11:51 am
 
Forum: Personal Finance (Not Investing)
Topic: What age did your Net Worth first equal 10,000x your Weight?
Replies: 48
Views: 3134

Re: How much do you pay in Property Taxes?

Our annual property tax bill just eclipsed $10,000 annually here in Central Massachusetts. We own a 4 BR / 3.5 BA / 2,600 sq foot home on 4.6 acres in a town that has a good to great school system (top 1/3 in the state). Fortunately we own our house outright, but that quarterly payment of $2,500+ s...
by Bacchus01
Tue Apr 21, 2015 1:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much do you pay in Property Taxes?
Replies: 184
Views: 9488

Re: One Spouse Outearning the Other?

When we started dating and later got married, my wife made more than me. At one point it was nearly 2X what I was making. Flash forward about 7 years and we were having our second child. The combination of my career and our mutual desire for her to stay home with the kids for a while, and she now wa...
by Bacchus01
Tue Apr 21, 2015 11:15 am
 
Forum: Personal Finance (Not Investing)
Topic: One Spouse Outearning the Other?
Replies: 64
Views: 5262

Re: What's your average monthly expense???

Interesting thread. The answers are going to vary so much from region to region, age, family makeup, etc. Rent/mortgage, insurance, rental insurance, etc: $1,600 + prop tax of $750 = $2,350. But, we have a second home that also costs us $850, so $3,200 gross, net of some rent of $400, so $2,800. Pho...
by Bacchus01
Tue Apr 21, 2015 11:00 am
 
Forum: Personal Finance (Not Investing)
Topic: What's your average monthly expense???
Replies: 85
Views: 7677

Re: engineers - please help with engineering school selectio

I'm shocked that with that profile he would not get accepted to any school. Huh?
by Bacchus01
Fri Apr 17, 2015 9:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: engineers - please help with engineering school selection
Replies: 179
Views: 10858

Re: Does your family know about your net worth (ball park)?

Most of our family members on either side don't even know what the term net worth means.

Most could guess my salary and they'd be off by half.

We live below our means, but most are aware that it is below our means simply because of my job.
by Bacchus01
Fri Apr 17, 2015 7:40 am
 
Forum: Personal Finance (Not Investing)
Topic: Does your family know about your net worth (ball park)?
Replies: 98
Views: 11262

Re: What are you up YTD?

Net worth up about 7.5%. About half returns and half contributions. Bonus invested and 401k, HSA, 529s, and Back door Roth maxed out already, so mostly returns for rest of year.
by Bacchus01
Fri Apr 17, 2015 7:27 am
 
Forum: Investing - Help with Personal Investments
Topic: What are you up YTD?
Replies: 319
Views: 39182

Re: Multiple Ohio 529s - One Child

We have 5 accounts. 1 each for each of our 3 kids and one each for my wife and I. When the time comes, we will roll the amount in mine to child 1. Then role anything left plus wife's to child 2. Then anything left to child 3. I expect to never stop contributing as long as there is a state tax deduct...
by Bacchus01
Wed Apr 15, 2015 10:10 pm
 
Forum: Investing - Help with Personal Investments
Topic: Multiple Ohio 529s - One Child
Replies: 7
Views: 658

Re: 401(k) Advice for 2015

At your age and income, first max out 401k to get the Mac, then Roth IRA max, then max 401k as much as you can.

Do you have an HSA?
by Bacchus01
Wed Apr 15, 2015 9:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401(k) Advice for 2015
Replies: 16
Views: 1888

Re: Input wanted from BMW owners

I think you get the picture, but I will add anyway. We owned a 2002 330XI. Blast to drive, nightmare to maintain. Fortunately I did a lot of work myself otherwise I'm certain we would have had 25K in repairs over 12 years and 130K miles. Front axles, lower control arms, ball joints, away bar links, ...
by Bacchus01
Tue Apr 14, 2015 7:53 pm
 
Forum: Personal Consumer Issues
Topic: Input wanted from BMW owners
Replies: 44
Views: 4390

Re: Kitchen upgrade - granite selection help

I don't know why people say that granite stains or needs to be sealed often. We've had 5 different granites in 3 different houses. Both in kitchen and bathrooms. Never once have we had a stain. We seal maybe every other year. It's just not a big deal.

Tile will look like it is - cheap.
by Bacchus01
Sat Apr 11, 2015 7:12 pm
 
Forum: Personal Consumer Issues
Topic: Kitchen upgrade - granite selection help
Replies: 52
Views: 4323

Re: Should I renege [on a] job offer?

At your age, always go for the higher pay.

That's the best advice I can give you. Work those hours now, and then you won't have to work them in a few years.
by Bacchus01
Thu Apr 09, 2015 10:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I renege [on a] job offer?
Replies: 45
Views: 3256

Re: The $1 Million Goal: Source of Motivation or Discouragem

When I was 25 I decided that I wanted me to be a millionaire by the time I was 40 (I'm married so the goal is for two people combined which is a bit more attainable). A million seemed like a lot and I wanted to set the bar high. It motivated me to start learning about investing and finance. As I le...
by Bacchus01
Thu Apr 09, 2015 11:52 am
 
Forum: Investing - Theory, News & General
Topic: The $1 Million Goal: Source of Motivation or Discouragement?
Replies: 172
Views: 15884

Re: Another Housing Thread (450k)

If you want the house. Sure. Go for it. I've bought about that much on a comparable salary in the past. But, what are your longer term goals? Do you NEED that house? Are you going to get married and have kids? How much space do you need? At 26, I'd buy about what I needed, and not much more. You WIL...
by Bacchus01
Thu Apr 09, 2015 11:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Another Housing Thread (450k)
Replies: 18
Views: 1717

Re: The $1 Million Goal: Source of Motivation or Discouragem

My goal is $10 Million. It is neither motivation or discouragement, it just is.

Why is it $10 Million? Well, because I like the sound of it. And for no other reason at all.
by Bacchus01
Thu Apr 09, 2015 11:41 am
 
Forum: Investing - Theory, News & General
Topic: The $1 Million Goal: Source of Motivation or Discouragement?
Replies: 172
Views: 15884

Re: Can I afford a $500,000 house?

Yes. I was at similar salary in 3010 and bought a house right at that number. Never a problem.
by Bacchus01
Fri Mar 27, 2015 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $500,000 house?
Replies: 41
Views: 5000

Re: Completed taxes, need to file new Fed & State W4

How much can you underpay before penalties? That's my goal.
by Bacchus01
Fri Mar 27, 2015 2:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: Completed taxes, need to file new Fed & State W4
Replies: 10
Views: 697

Re: Can I afford a $1M house?

$1m house in $200k salary?

What am I missing? Heck no, but that's me.

I make 2.5X that and $500k works fine for me.
by Bacchus01
Thu Mar 26, 2015 9:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1M house?
Replies: 74
Views: 7989

Re: Painting Cabinets and Trim

Everything will be degreased and sanded. Cohen 2 coats of primer and two coats of paint. Cabinets will be sprayed then antiquing applied by hand. The stair railing alone they said would take a 2-man crew a week. Staining top rail and painting rails and base. I appreciate the feedback. Lots of pros a...
by Bacchus01
Thu Mar 26, 2015 3:57 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: Painting Cabinets and Trim

Why buy new doors to paint when I already have doors to paint. I don't understand this argument.
by Bacchus01
Wed Mar 25, 2015 8:55 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: Painting Cabinets and Trim

I agree. Some of it I like as well. We've lived with it 5 years and wife wants it gone.

And this is a high end house. The wood is very high quality. It's not laminated or pine or cheap oak.

Pains me somewhat to cover it up, but I also don't care for the wood. At all.
by Bacchus01
Wed Mar 25, 2015 8:24 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: Painting Cabinets and Trim

That sounds crazy to me. We have wood trim and some parts I don't like, particularly the oak sections. But the windows look great as do the doors. The key for us was choosing proper colors to put on our walls as well as carpet (next time we replace), but we have been careful to make sure our rugs, ...
by Bacchus01
Wed Mar 25, 2015 7:21 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: Should I accept this Job Offer ?

Are you vested in the pension? If not, get vested. You will really think about this later. Few companies have them so every little bit will help.
by Bacchus01
Wed Mar 25, 2015 7:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I accept this Job Offer ?
Replies: 24
Views: 2889

Re: Painting Cabinets and Trim

Our cabinets are solid birch. Our kitchen is quite large, approx. 20 x 15 and has a very large center island as well as cabinets in the entryway. It is not a job I would do myself. Some of our trim we could do. We may do the baseboards and have them do the windows, door surrounds, and stain the door...
by Bacchus01
Wed Mar 25, 2015 7:18 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: Painting Cabinets and Trim

Good comments. Thanks. On the doors, we do plan to keep them stained, but will probably go darker, thus, money :) On the windows. I will admit that while wood windows look nice, they are a complete pain the ass to maintain. Last year we completely stripped, stained, and resealed about 30 window sash...
by Bacchus01
Wed Mar 25, 2015 4:44 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: Painting Cabinets and Trim

I am cringing at the thought of painting wood. That is definitely not something to everyone's taste. our cabinets had a lousy finish that was flaking off so we hired someone to paint them beige/antiqued. Perhaps what you are contemplating. She did a fabulous job and we love them. I know some folks ...
by Bacchus01
Wed Mar 25, 2015 1:54 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: non-compete question

You are going to a competitor, and regardless of territory I would expect your old company to take you to court. How would the former employer even find out? Seriously? That would be extremely easy. And when you don't give a name of the new company, they will be particularly suspicious and follow t...
by Bacchus01
Wed Mar 25, 2015 1:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: non-compete question
Replies: 23
Views: 2144

Painting Cabinets and Trim

Hello, I'm trying to see what others might have done with regards to painting kitchen cabinets and trim. Our house is 11 years old. The top two floors are 4 bed, 3 bath, and total about 3500 sq ft. The kitchen cabinets, doors, and all trim in the house are alder or birch throughout. Most of the floo...
by Bacchus01
Wed Mar 25, 2015 1:32 pm
 
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2170

Re: [Neighbor violating HOA rules by using] VBRO and Airbnb

I have no value to add other than I HATE HOAs.

They rarely do their job well and they tend to only pit neighbors against each other.

In this case it seems like it is working correctly.

The HOA, by the way, IS YOU! You are a homeowner. The HOA is the Homeowner's Association, is it not?
by Bacchus01
Tue Mar 24, 2015 12:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: [Neighbor violating HOA rules by using] VBRO and Airbnb
Replies: 38
Views: 4003

Re: Private Company Restricted Stock

Thanks for the reply. A few notes below If I had this opportunity, the first question I'd ask is: will your decision to purchase shares or not be a consideration that might affect your future prospects with the company ? Does it affect my future prospects? Probably not. However, I am one of about 20...
by Bacchus01
Wed Mar 11, 2015 8:29 am
 
Forum: Personal Finance (Not Investing)
Topic: Private Company Restricted Stock
Replies: 6
Views: 558

Re: non-compete question

Hi Everyone, I work for a software company and am in field sales. I was required to sign a non-compete last year and I am looking to leave and potentially go to a competitor covering a completely different region. I'm currently selling in a completely different region (mid-west) and the new role wo...
by Bacchus01
Wed Mar 11, 2015 12:00 am
 
Forum: Personal Finance (Not Investing)
Topic: non-compete question
Replies: 23
Views: 2144

Re: My Penfed 5/5 ARM just adjusted down to 2.25%

My personal experience is that I've gone with ARMs the last 15 years, moving 3 times. I even had an interest-only (EGADS!) loan at one point. Why? Because I knew I was moving inside of 2 years and it was like paying rent because I had a guaranteed buyback arrangement in my relocation plan. No risk. ...
by Bacchus01
Tue Mar 10, 2015 10:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: My Penfed 5/5 ARM just adjusted down to 2.25%
Replies: 8
Views: 1340

Re: Evaluating new job offer and 401k plan

At 26, which for me was 15 years ago, I worked less for more money and had better benefits and equity than you, although not the net worth you have. That's just one data point. That said, if you want to do something new, go for it. I'm just not sure that financially where you are going is an improve...
by Bacchus01
Tue Mar 10, 2015 10:47 pm
 
Forum: Investing - Help with Personal Investments
Topic: Evaluating new job offer and 401k plan
Replies: 30
Views: 2530

Private Company Restricted Stock

As a Sr. Exec of a large private mega-corp, I have the opportunity to buy restricted stock in the company. This is a mega private company and only 75 people have this opportunity. I'm very aware of the "all the eggs in one basket" but I also think that I have room in my portfolio for a lit...
by Bacchus01
Tue Mar 10, 2015 10:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Private Company Restricted Stock
Replies: 6
Views: 558

Re: Internet/Smartphone Usage in China? Security?

I've traveled on 6 continents and many different countries, including China. I've never had any security issues with my electronics, ever.
by Bacchus01
Mon Mar 09, 2015 12:36 am
 
Forum: Personal Consumer Issues
Topic: Internet/Smartphone Usage in China? Security?
Replies: 7
Views: 514

Re: Home workouts and motivation

I'll second P90X. P90X3 is great for those without as much time, or not as intense.

However, none of these will work without the right diet. You HAVE to do both.
by Bacchus01
Mon Mar 09, 2015 12:35 am
 
Forum: Personal Consumer Issues
Topic: Home workouts and motivation
Replies: 60
Views: 3097

Re: Whether to Max Out HSA Before Wife Leaves Job

Unless you have an HDHP for the full year, it is not legal to max out the HSA for the full year. The contribution limit is really based pro-rated monthly. Please read the relevant IRS publications and tax forms and their instructions for further info. It appears you are only allowed 25% of the maxi...
by Bacchus01
Wed Mar 04, 2015 8:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Whether to Max Out HSA Before Wife Leaves Job
Replies: 11
Views: 820

Re: What if you already have a couple million?

Most will probably tell you that once you've accumulated that much you should invest more conservatively to conserve wealth. I have the complete opposite view. Our long term "return" is still highest based on my earning potential and I could work another 25 years or more. I tend to look at...
by Bacchus01
Tue Mar 03, 2015 11:50 am
 
Forum: Investing - Help with Personal Investments
Topic: What if you already have a couple million?
Replies: 42
Views: 6739

Re: Real Estate - 2nd property

It's your call on whether you tell them that the condo is rented. You should tell them, as if you don't it is possible for them to call the loan. That is highly unlikely, but it is possible. Or, you simply say you are buying another primary residence and the condo will be a second/vacation home. The...
by Bacchus01
Tue Mar 03, 2015 11:47 am
 
Forum: Investing - Help with Personal Investments
Topic: Real Estate - 2nd property
Replies: 10
Views: 1161

Re: HSA: spend or invest?

The only thing better than an HSA is a 401k company match.
by Bacchus01
Sat Feb 28, 2015 8:52 am
 
Forum: Investing - Help with Personal Investments
Topic: HSA: spend or invest?
Replies: 31
Views: 3456

Re: Do you consider mortgage payments as savings?

Do I consider it "savings"? No. Do I consider it as growing net worth? Absolutely.
by Bacchus01
Sat Feb 28, 2015 8:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you consider mortgage payments as savings?
Replies: 410
Views: 21696

Re: Getting Australian Dollars

Whenever I travel internationally, I just use the ATM.

I've been to Sydney several times. I have never once gotten local currency. Not really needed as everyone accepts CC.
by Bacchus01
Sat Feb 28, 2015 8:47 am
 
Forum: Personal Consumer Issues
Topic: Getting Australian Dollars
Replies: 13
Views: 783

Re: Raise was only 2.44%?

Big raises typically only come with promotion or changing employers. I'm averaging 14% CAGR over the last 20 yrs
by Bacchus01
Fri Feb 27, 2015 7:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Raise was only 2.44%?
Replies: 49
Views: 4823

Re: How to hedge a 5/5 ARM?

I never refi if it doesn't pay back inside 2 years. A LOT can happen in that time.
by Bacchus01
Fri Feb 27, 2015 7:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to hedge a 5/5 ARM?
Replies: 20
Views: 1403

Re: I survived my initial performance improvement mtg. Now w

In 20 years of leading a large number of people, I have never seen a PIP end in anything other than the employee gone from the company. It is an admin CYA process only. Time to move on.
by Bacchus01
Fri Feb 27, 2015 7:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: I survived my initial performance improvement mtg. Now what?
Replies: 33
Views: 4662

Re: Raise was only 2.44%?

Avg here was around 2.8%
by Bacchus01
Fri Feb 27, 2015 3:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Raise was only 2.44%?
Replies: 49
Views: 4823
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