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by Bacchus01
Sun May 24, 2015 5:45 pm
Forum: Personal Finance (Not Investing)
Topic: Real cost of a Masters (in the US)
Replies: 39
Views: 2858

Re: Real cost of a Masters (in the US)

Just one word of caution. I see a lot of overeducated people with zero work experience in the business world. I think in STEM the reaction might be a bit different, but my reaction is to either pass them altogether, or to offer them at the same rate as a BA/BS student coming out. Without work experi...
by Bacchus01
Sun May 24, 2015 8:32 am
Forum: Investing - Help with Personal Investments
Topic: Portfolio Review - Early Retirement (@50)?
Replies: 12
Views: 2043

Re: Portfolio Review - Early Retirement (@50)?

You don't mention pensions. Will you have one to draw from in the future? At 50, with two young kids and about to take out debt to basically buy a 300K house, I'd be quite uncomfortable with what you have saved to retire. That's about a 4% withdrawal rate (excluding wife's income) which is steep at ...
by Bacchus01
Sun May 24, 2015 8:25 am
Forum: Investing - Help with Personal Investments
Topic: Roth 401K vs Backdoor
Replies: 8
Views: 746

Re: Roth 401K vs Backdoor

Then we wouldn't be talking about 401ks and Roths, would we?
by Bacchus01
Sun May 24, 2015 8:22 am
Forum: Personal Consumer Issues
Topic: Building a guest house
Replies: 20
Views: 1799

Re: Building a guest house

$350 per sq ft is very high. What kind of posh pad is he building?
by Bacchus01
Sun May 24, 2015 8:17 am
Forum: Personal Finance (Not Investing)
Topic: One cent over on HSA, now what?
Replies: 25
Views: 3036

Re: One cent over on HSA, now what?

centrifuge41 wrote:Same thing happened to me! I was only eligible for HSA 5 months of last year, so my limit isn't a round 3050 anyway. It's reassuring that this isn't a big deal.


The amount you can contribute is not prorated based on your time in plan. You are eligible to contribute the entire amount.
by Bacchus01
Thu May 21, 2015 9:54 pm
Forum: Personal Finance (Not Investing)
Topic: Share your networth progression
Replies: 201
Views: 37582

Re: Share your networth progression

Our parents gave us many things including love, sheltered, moral values and an education through high school. After leaving home (me 18 years, DW 19 years) they gave us good advice only. Everything else we did ourselves, the two of us, working together day-after-day, year-after-year. I have always ...
by Bacchus01
Thu May 21, 2015 9:47 pm
Forum: Personal Finance (Not Investing)
Topic: Share your networth progression
Replies: 201
Views: 37582

Re: Share your networth progression

Just the last few years or so of good records measured at year end, or YTD for 2015 2006 $425 2007 $500 2008 $345 2009 $592 2010 $796 2011 $918 2012 $1,129 2013 $1,435 2014 $1,622 2015 $1,861 (projected $2M+ by end of year) Actually, back in late 2007/early 2008 I had a bunch of stock options vest a...
by Bacchus01
Thu May 21, 2015 7:51 pm
Forum: Investing - Help with Personal Investments
Topic: Is 401k & IRA the only tax-advantaged instruments for salaried employees?
Replies: 1
Views: 220

Re: Is 401k & IRA the only tax-advantaged instruments for salaried employees?

HSA
FSA
Non qual deferred comp plan
Mega Backdoor Roth

Outside payroll
529s
Munis
Backdoor Roth
by Bacchus01
Thu May 21, 2015 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: homeowner vacancy insurance - yikes
Replies: 18
Views: 1317

Re: homeowner vacancy insurance - yikes

I went through this a few years ago. It can get very problematic. In my case, the insurance company would not cover it AT ALL. In fact, they cancelled the coverage. House was on the market for 1.5 years. That in itself was not the issue. The issue is that when they cancel your coverage, your mortgag...
by Bacchus01
Thu May 21, 2015 6:14 am
Forum: Personal Finance (Not Investing)
Topic: The exact math behind using 401k loan to pay down debt
Replies: 14
Views: 1059

Re: The exact math behind using 401k loan to pay down debt

Great thread. Never thought about doing this. I too have a 401K account that has crappy fees so I put it in the lowest cost fund, but that isn't really generated much of a return. Would you ever use this to take a loan on your 401K, put it into a lower-cost after-tax fund, then pay off your loan thr...
by Bacchus01
Thu May 21, 2015 6:09 am
Forum: Personal Consumer Issues
Topic: Lexus vs. MB vs. BMW
Replies: 78
Views: 6429

Re: Lexus vs. MB vs. BMW

I bought the Gen3 RX350 in Dec. 2009 - a 2010 model year. I now have nearly 145k miles on it, and have had to do nothing except regular maintenance...including 2 sets of tires, and dealer service, I've averaged about $2k in costs to maintain it each year. There is a Lexus forum that is likely to an...
by Bacchus01
Wed May 20, 2015 10:20 am
Forum: Investing - Help with Personal Investments
Topic: What to do with 5M?
Replies: 93
Views: 15413

Re: What to do with 5M?

Very interesting, thank you. I do not agree with the "if you've won, why keep playing?" approach. I personally take the approach that I would take an amount aside that I "need" to live on, and invest that more conservatively while putting the rest into more aggressive long range ...
by Bacchus01
Sun May 17, 2015 12:56 pm
Forum: Personal Consumer Issues
Topic: Rough cost to replace central A/C unit?
Replies: 9
Views: 1432

Re: Rough cost to replace central A/C unit?

Highly probable it's just the capacitor. Not very expensive
by Bacchus01
Sat May 16, 2015 5:32 pm
Forum: Investing - Theory, News & General
Topic: The striking effects of career sequencing with pension and 401k
Replies: 13
Views: 1914

Re: The striking effects of career sequencing with pension and 401k

I've worked for two companies with pension plans AND maxed 401k with generous match for over 15 years.

I guess I'll do okay then?
by Bacchus01
Thu May 14, 2015 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: Too soon to change jobs? Pres/CEO types
Replies: 16
Views: 2118

Re: Too soon to change jobs? Pres/CEO types

To the earlier poster who mentioned how we feel when people we promote leave after 2 years: I am typically happy when people I have developed continue to succeed. Two years is plenty, this isn't indentured servitude. Thankyou. But Is the OP ready? Especially if he has to ask the question? At this l...
by Bacchus01
Wed May 13, 2015 3:58 pm
Forum: Personal Finance (Not Investing)
Topic: Too soon to change jobs? Pres/CEO types
Replies: 16
Views: 2118

Too soon to change jobs? Pres/CEO types

What would you do in this scenario? Current: 2 years with a company as head of a $.5B business unit. First time heading up a business this large. Age early 40s. Have probably 1 steps possible up for a large private megacorp to group leader of a $2B division. Total comp mid 6 figs. Total comp potenti...
by Bacchus01
Mon May 11, 2015 4:27 pm
Forum: Investing - Theory, News & General
Topic: "Why Would an Experienced Investor Buy a Target-Date Fund?"
Replies: 38
Views: 4639

Re: "Why Would an Experienced Investor Buy a Target-Date Fund?"

Unfortunately, this doesn't protect you from the fund provider tinkering with the allocation, and the fund providers are under pressure to make their allocations attractive to new investors. Even Vanguard, or should I say especially Vanguard, changes their target date funds far more often than I ch...
by Bacchus01
Mon May 11, 2015 4:26 pm
Forum: Personal Finance (Not Investing)
Topic: Share your networth progression
Replies: 201
Views: 37582

Re: Share your networth progression

#1. Go to the best school that you can get into, #2. Major in the highest, in expected income, field, #3. Work your ass of in school. Do multiple internships with high profile companies, #4. Pick a job / profession that would maximize income, #5. Don't stay in the same job too long. Statistics show...
by Bacchus01
Fri May 08, 2015 8:21 am
Forum: Personal Finance (Not Investing)
Topic: much ado about coasting (through life)
Replies: 165
Views: 19814

Re: much ado about coasting (through life)

The goal in life is to be happy. I think true happiness generally comes from having something or someone in your life that you love, and I'm not seeing that in your post, but maybe my premise is wrong, or maybe you just need more time to find something or someone you can be passionate about. You're...
by Bacchus01
Thu May 07, 2015 10:38 am
Forum: Personal Finance (Not Investing)
Topic: Easy careers to last me to retirement?
Replies: 141
Views: 17028

Re: What job to get to coast to Retirement at age 59 1/2?

Coasting. Great. I'd really want to hire you for the next 15 years.
by Bacchus01
Thu May 07, 2015 10:37 am
Forum: Personal Finance (Not Investing)
Topic: Do Updates to Home Increase Market Value?
Replies: 32
Views: 2195

Re: Do Updates to Home Increase Market Value?

You can price it wherever you want.

The realtor may have given you a low range in order to sell it quickly.

If that comps are 150-200, and you've completely updated it, I don't know why it would be at the bottom of the comp range.
by Bacchus01
Tue May 05, 2015 8:26 am
Forum: Personal Consumer Issues
Topic: Will you buy self-driving car?
Replies: 235
Views: 9316

Re: Will you buy self-driving car?

Yes. In a heartbeat. I spend 60 minutes commuting each morning, and 60 minutes each night. To get back 2 hours of my day to do other things (sleep, read, make calls, etc.) I would do that for sure. Then I'd have a wild and crazy car to drive on the weekends when I need my fix. Mass transit in this c...
by Bacchus01
Mon May 04, 2015 11:28 am
Forum: Personal Finance (Not Investing)
Topic: DIY distance moving
Replies: 37
Views: 2597

Re: DIY distance moving

Here are my best tips when moving: It costs $6 per POUND to move stuff. When packing, if the item ain't worth $6/lb. leave it behind. You'll be amazed at how little you actually replace once you reach your destination. Use real moving boxes. They are designed to fit together for a snug pack in the ...
by Bacchus01
Sat Apr 25, 2015 9:30 am
Forum: Personal Consumer Issues
Topic: Any classic car owners here?
Replies: 21
Views: 1857

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 9:24 am
Forum: Personal Consumer Issues
Topic: Any classic car owners here?
Replies: 21
Views: 1857

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 9:16 am
Forum: Personal Finance (Not Investing)
Topic: Compare 10/1 ARM vs 30 yr
Replies: 4
Views: 612

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
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: 4880

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
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: 3569

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
Tue Apr 21, 2015 1:15 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you pay in Property Taxes?
Replies: 188
Views: 11116

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 11:15 am
Forum: Personal Finance (Not Investing)
Topic: One Spouse Outearning the Other?
Replies: 64
Views: 5527

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 11:00 am
Forum: Personal Finance (Not Investing)
Topic: What's your average monthly expense???
Replies: 85
Views: 8331

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
Fri Apr 17, 2015 9:46 pm
Forum: Personal Finance (Not Investing)
Topic: engineers - please help with engineering school selection
Replies: 185
Views: 12071

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 7:40 am
Forum: Personal Finance (Not Investing)
Topic: Does your family know about your net worth (ball park)?
Replies: 98
Views: 11572

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 7:27 am
Forum: Investing - Help with Personal Investments
Topic: What are you up YTD?
Replies: 328
Views: 41377

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
Wed Apr 15, 2015 10:10 pm
Forum: Investing - Help with Personal Investments
Topic: Multiple Ohio 529s - One Child
Replies: 7
Views: 691

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 9:59 pm
Forum: Investing - Help with Personal Investments
Topic: 401(k) Advice for 2015
Replies: 16
Views: 1953

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
Tue Apr 14, 2015 7:53 pm
Forum: Personal Consumer Issues
Topic: Input wanted from BMW owners
Replies: 44
Views: 4499

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
Sat Apr 11, 2015 7:12 pm
Forum: Personal Consumer Issues
Topic: Kitchen upgrade - granite selection help
Replies: 52
Views: 4512

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
Thu Apr 09, 2015 10:28 pm
Forum: Personal Finance (Not Investing)
Topic: Should I renege [on a] job offer?
Replies: 48
Views: 4545

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 11:52 am
Forum: Investing - Theory, News & General
Topic: The $1 Million Goal: Source of Motivation or Discouragement?
Replies: 172
Views: 16439

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 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Another Housing Thread (450k)
Replies: 18
Views: 1799

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 11:41 am
Forum: Investing - Theory, News & General
Topic: The $1 Million Goal: Source of Motivation or Discouragement?
Replies: 172
Views: 16439

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
Fri Mar 27, 2015 7:05 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $500,000 house?
Replies: 43
Views: 5798

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 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Completed taxes, need to file new Fed & State W4
Replies: 10
Views: 728

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

How much can you underpay before penalties? That's my goal.
by Bacchus01
Thu Mar 26, 2015 9:25 pm
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1M house?
Replies: 74
Views: 8236

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 3:57 pm
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2367

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
Wed Mar 25, 2015 8:55 pm
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2367

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 8:24 pm
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2367

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 7:21 pm
Forum: Personal Consumer Issues
Topic: Painting Cabinets and Trim
Replies: 27
Views: 2367

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 7:19 pm
Forum: Personal Finance (Not Investing)
Topic: Should I accept this Job Offer ?
Replies: 24
Views: 2991

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.

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