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Re: "Downgrading" to a Porsche

I like the idea of an older 911 than a Boxster. The Boxster just looks like a 'loadsamoney City dealer' car here in London. Beware, they handle quite differently from a normal car-- that rear engine. And you will develop a close and very personal relationship with your mechanic. Such is owning a ca...
by DJB
Sun Nov 16, 2014 12:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Downgrading" to a Porsche
Replies: 39
Views: 6554

Re: "Downgrading" to a Porsche

I asked my pal JM, an authentic car expert, what he thought about the OP's situation. Below is his reply: it's stupid to ask for car advice on a money board. Unless you desperately need to get out of an expensive payment/insurance/fuel consumption/maintenance money pit situation, the car you own is...
by DJB
Sun Nov 16, 2014 12:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Downgrading" to a Porsche
Replies: 39
Views: 6554

"Downgrading" to a Porsche

I realize I may got a lot of flack for this post, but so far BH's have never let me down with excellent advice, so, I'll give it a shot. To summarize, a little over two years ago I bought myself a nice treat - a CPO 2009 BMW 335i coupe (Paid a tad under 30K). I was 27 and had been a life-long saver ...
by DJB
Fri Nov 14, 2014 11:15 pm
 
Forum: Personal Finance (Not Investing)
Topic: "Downgrading" to a Porsche
Replies: 39
Views: 6554

Re: What if I Never Buy a House?

I regret not buying when I had the chance. I've had similar thoughts to the OP much of my life - I planned to rent forever and loved the flexibility and financial benefits. I moved to the Bay Area in '08, and was here during the crash. There were all kinds of incentives - first time home buyer's tax...
by DJB
Sat Nov 08, 2014 1:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: What if I Never Buy a House?
Replies: 57
Views: 7554

Too much house?

Hi All, Some of you may know I recently made an offer (which was rejected) for a 1-BR condo in the SF Bay Area (250-325K). At the time, some of you had suggested I look at 2-BR condos and rent a room. Initially, I thought that was totally out of my price range, but I found some new neighborhoods I l...
by DJB
Tue Nov 04, 2014 8:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Too much house?
Replies: 10
Views: 2114

Do I need life insurance?

My dad has had some health scares recently, and I believe this is the main reason he has been urging me to buy term life insurance. I'm 29 and (knock on wood) very healthy, so for $20-40/month I can get a pretty comprehensive policy. I'm currently single, though there is a reasonable probability (70...
by DJB
Tue Oct 28, 2014 12:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do I need life insurance?
Replies: 21
Views: 1433

Re: Feeling rich to feeling poor overnight

Imagine the guy in Omaha who has your same exact job. He probably makes 12K less than you in salary and pays 1K less per month than the expensive places you're lamenting. So financially it's a wash, and you get to live in SF instead of Omaha. Point is, you're being compensated for the high rent alr...
by DJB
Mon Oct 27, 2014 7:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Re: Buying First Home Opinions

I do think there is something you are missing with their argument; they are not crazy, but neither is your father. Either choice can be justified financially, but I think what you are missing is that the interest on mortgages is front loaded. You don't actually save much by making additional paymen...
by DJB
Mon Oct 27, 2014 4:03 pm
 
Forum: Personal Finance (Not Investing)
Topic: Buying First Home Opinions
Replies: 17
Views: 1551

Re: Feeling rich to feeling poor overnight

I live in downtown Jersey City, a somewhat expensive area where a studio is at least $1500. I pay $1050 and live in a half-studio (around 230 square feet). It's more than enough space for me. I love the "tiny house" movement. I would do it myself, but convincing my girlfriend of that woul...
by DJB
Fri Oct 24, 2014 6:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Re: Feeling rich to feeling poor overnight

You make say what $200,000 a year? And you might have to pay, say $2,500 a month's rent? And you're worried? About what? Or do I somehow have these numbers wrong? The old rule of thumb is not to pay more than 30% if your income as rent. The % is higher now. Low 6 figs = a little over 100K. Nowhere ...
by DJB
Fri Oct 24, 2014 5:22 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Re: Feeling rich to feeling poor overnight

fareastwarriors wrote:Where do you want to live? Living in the city versus living in a sleepy East Bay suburb is not even a comparison...


Oakland - Piedmont Ave, Grand Lake, Temescal, Uptown...
by DJB
Fri Oct 24, 2014 3:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Re: Feeling rich to feeling poor overnight

Don't move 30 minutes further from your job/life/friends. Commuting takes a huge toll on people's life and job satisfaction and also their relationships. It's impressive that you've been able to max out all tax advantaged space due to having a below-market rental for a little while. But now you don...
by DJB
Fri Oct 24, 2014 2:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Re: Feeling rich to feeling poor overnight

I think one option you missed is to find the 800 to 1100 dollars per month you need for additional rent through cutting other expenses. Do you have an expensive car you can downgrade or go without? ~300-600 per month Can you increase deductibles on any insurance you have? ~100 per month Go from exp...
by DJB
Fri Oct 24, 2014 1:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Re: Feeling rich to feeling poor overnight

What if you just offered to pay more on your present location? Why not negotiate? I am currently a "caretaker" for a house where the owner is rarely around. My long-distance girlfriend is planning a long-term visit, and he won't allow her to stay, even though I've offered to pay additiona...
by DJB
Fri Oct 24, 2014 12:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Feeling rich to feeling poor overnight

I have always felt rich. By almost every standard, I am rich. I'm 29, make low 6-figures, and have savings of $350K+. I max out all my tax advantaged space which comes to 33% of my gross pay. I live in the SF Bay Area. Recently, I learned that I have to move out of my current place by Dec. 1. I've g...
by DJB
Fri Oct 24, 2014 11:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Feeling rich to feeling poor overnight
Replies: 85
Views: 11064

Re: Making an offer today

I don't understand why anyone feels the OP did something wrong with what they offered. The seller probably spent all of 1 minute deciding it wasn't viable for them. No harm, no foul. Additionally, the value of the home currently has nothing at all to do with what the seller paid for it. It may make...
by DJB
Thu Oct 23, 2014 9:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4869

Re: Making an offer today

But I figured it couldn't hurt to ask, especially knowing my intentions were honest and I genuinely want to strike a fair deal. To you it was a "fair" price. Apparently not so to the seller. Don't act as if you are doing the seller a "favor" by offering a "fair" price....
by DJB
Thu Oct 23, 2014 9:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4869

Re: Making an offer today

A side note... In my city and I think many other major cities, if a property is priced relatively correctly, an offer less than 90% of the asking price is usually not received well. In my experience, if I thought the property was priced that incorrectly, I'd just move on down the road and assume th...
by DJB
Thu Oct 23, 2014 12:24 am
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4869

Re: Making an offer today

4nursebee wrote:OP, how old are you?


I am 29.
by DJB
Thu Oct 23, 2014 12:14 am
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4869

Re: Making an offer today

You hit the nail on the head with #4. My offer was rejected. Quick update (with numbers) for those interested. The condo I made an offer on is listed right around $300K. I offered $255K, which I believe is on the low end of the ballpark (but still in the ballpark) based on what comparable properties...
by DJB
Wed Oct 22, 2014 11:02 am
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4869

Re: Should I (physician) get an MBA?

I am a hospital administrator (no MD) in a large healthcare system and work closely with our physician leaders. There are not many physicians with strong leadership skills, and the career paths for that that do possess these skills have much more potential. What's interesting, though, is that very f...
by DJB
Sun Oct 19, 2014 7:30 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I (physician) get an MBA?
Replies: 31
Views: 3764

Re: Making an offer today

So after asking for advice whether you should or not with the general consensus being no, you ignored the advice. [OT comment removed by admin LadyGeek] I did ask for advice, but there didn't seem to be consensus either way. There was definitely a split with more people than I expected encouraging ...
by DJB
Fri Oct 17, 2014 4:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4869

Re: 30-yr fixed or 7-year ARM

Case for ARM: Being a small condo, there is a good chance I will be ready for a larger place in 5-7 years. I would save about $100/mo with this option. Even if I decide to keep the condo and be a landlord, after 7 years, if I applied my 100/savings to my load, I would have only $84K left. Even if r...
by DJB
Fri Oct 17, 2014 1:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: 30-yr fixed or 7-year ARM
Replies: 5
Views: 428

30-yr fixed or 7-year ARM

I am making an offer today on a 1-BR condo. In a previous thread, LongerPrimer asked why I am leaning towards a 3-yr fixed mortgage vs. an ARM. A great question that I struggled with and realized I could use some Bogleheads expertise. The rate difference between ARM and Fixed is 1%. Let's say the ho...
by DJB
Fri Oct 17, 2014 12:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: 30-yr fixed or 7-year ARM
Replies: 5
Views: 428

Making an offer today

After much deliberation and input from this board, I am pulling the trigger on making an offer on a 1-BR condo. Thanks to everyone who has offered their input. I will disclose financial details at a later date. My offer is well below asking price and somewhat lower than my agent suggested. I realize...
by DJB
Fri Oct 17, 2014 10:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4869

Re: Leaning towards buying a 1-BR condo in Bay Area

Thanks for all the wonderful suggestions already in this thread! DJB: Can you provide information about your intended mortgage? We might be able to offer suggestions. Thank you and best wishes. Taylor The 1-BRs I'm looking at run about 300K. I am considering making an offer on a unit now for 260K, w...
by DJB
Mon Oct 13, 2014 10:15 pm
 
Forum: Personal Consumer Issues
Topic: Leaning towards buying a 1-BR condo in Bay Area
Replies: 21
Views: 2160

Leaning towards buying a 1-BR condo in Bay Area

I have never thought it would make financial sense to buy in the Bay Area, but I am close to making an offer on a 1BR condo in the East Bay. The way the numbers work out, the mortgage + taxes + HOA will be approximately the same as the cost to rent a comparable unit. Overall, it appears slightly che...
by DJB
Mon Oct 13, 2014 9:17 am
 
Forum: Personal Consumer Issues
Topic: Leaning towards buying a 1-BR condo in Bay Area
Replies: 21
Views: 2160

First meeting with real estate agent

After lots of great advice on these forums, I decided to start looking at possible condos to buy in Oakland, CA. I have my first visit with a real estate agent tomorrow. I like Redfin's business model and I found him as a partner agent through their website. Any advice for a first time home buyer? I...
by DJB
Fri Oct 10, 2014 10:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: First meeting with real estate agent
Replies: 14
Views: 1538

Another "Am I ready to buy?" post

HI All, I've been firmly in the "rent my whole life" camp for a while, at least living in the SF Bay area (Oakland to be precise). A couple factors have me starting to think about potentially buying a place: Friction with my landlord who I share the house with but who is rarely home. I cur...
by DJB
Tue Oct 07, 2014 9:50 am
 
Forum: Personal Finance (Not Investing)
Topic: Another "Am I ready to buy?" post
Replies: 3
Views: 983

Re: Best nose hair trimmer (is this okay to ask?)

I have recently found hair in new places, and after lots of evaluation it seems like there is are no "professional grade" nose hair trimmers on the market. I've got capital. Anyone with gadgetry experience want to do business?
by DJB
Sun Aug 24, 2014 1:38 pm
 
Forum: Personal Consumer Issues
Topic: Best nose hair trimmer (is this okay to ask?)
Replies: 36
Views: 2872

Re: Which apartment to chose? (Bay Area)

Heard there was a quake up there. Are you OK in your area? Was the damage localized? I've always considered moving to Northern CA but have always been a little watchful about the quakes! I was jostled awake at 3:30am - the shaking seemed to last for about 10 seconds. No damage here - the only damag...
by DJB
Sun Aug 24, 2014 12:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which apartment to chose? (Bay Area)
Replies: 13
Views: 1732

Re: Which apartment to chose? (Bay Area)

Thank you all for the thoughtful comments and suggestions. I did express my displeasure to my current landlord about the hefty rent increase. I didn't go so far as to say I will start looking at other places because of it since I didn't want to invite him to give me 30 days notice. I value the flexi...
by DJB
Sun Aug 24, 2014 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Which apartment to chose? (Bay Area)
Replies: 13
Views: 1732

Which apartment to chose? (Bay Area)

Hi All, I'd love your input in helping me decide on an apartment in the Bay Area. As background, I am 29, in a long-distance relationship, and have a good start to my career and retirement savings. I make low 6-figures, and put away 18% in my 401K, max my roth, put 10% in after-tax into my 401K whic...
by DJB
Sat Aug 23, 2014 7:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Which apartment to chose? (Bay Area)
Replies: 13
Views: 1732

Re: Arthur Murray Dance Lessons

PS: Congratulations on your upcoming nuptials. Good luck!
by DJB
Sat Aug 02, 2014 9:15 am
 
Forum: Personal Consumer Issues
Topic: Arthur Murray Dance Lessons
Replies: 18
Views: 1049

Re: Arthur Murray Dance Lessons

I took a package of classes with Arthur Murray in the Bay Area and was highly disappointed. I bought a discount package (5 privates, a couple groups, and a "party") on Groupon for about half their normal price. I wanted to mostly learn salsa, so a bit different from your goal. After the le...
by DJB
Sat Aug 02, 2014 9:13 am
 
Forum: Personal Consumer Issues
Topic: Arthur Murray Dance Lessons
Replies: 18
Views: 1049

Re: Nuts and bolts - In-Service After Tax Rollover to Roth I

Wow - thanks for posting! A couple of questions - are you still held to the $5500 limit per year of the Roth? Also - do you need to make a rollover quarterly or can you do it every calendar year to simplify the process? Thanks so much again for sharing. Anil The key benefit of this is that you aren...
by DJB
Wed Jul 16, 2014 2:26 pm
 
Forum: Investing - Help with Personal Investments
Topic: Nuts and bolts - In-Service After Tax Rollover to Roth IRA
Replies: 17
Views: 1294

Nuts and bolts - In-Service After Tax Rollover to Roth IRA

There have been frequent questions on this board (myself included) about this process, so I wanted to share my experience. Hopefully it's of some benefit to others. After I learned on these forums that it's theoretically possible to make after tax contributions contributions to my 401K (on top of th...
by DJB
Wed Jul 16, 2014 10:51 am
 
Forum: Investing - Help with Personal Investments
Topic: Nuts and bolts - In-Service After Tax Rollover to Roth IRA
Replies: 17
Views: 1294

Re: How common are after-tax in service rollovers?

Thanks, everyone, for the feedback and input. I tried running some calculations about what this after-tax rollover could be worth. I plugged in 5% nominal returns and 3% inflation, and the tax benefits result in 2000-2500 more per year. Not bad. I would never try to use this in a salary negotiation ...
by DJB
Wed Jun 25, 2014 10:48 am
 
Forum: Investing - Theory, News & General
Topic: How common are after-tax in service rollovers?
Replies: 17
Views: 1308

How common are after-tax in service rollovers?

I recently learned that my company allows after-tax 401K contributions of 10% of salary, along with four in service rollovers allowed per year to my Roth IRA. I plan to take full advantage of this opportunity. Two questions: 1) How common is it for companies to offer this? Is this something that mos...
by DJB
Mon Jun 23, 2014 8:45 am
 
Forum: Investing - Theory, News & General
Topic: How common are after-tax in service rollovers?
Replies: 17
Views: 1308

Re: 401K in-kind rollover vs. taxable

1) No reason not to do this. Loss of a TLH source is a small price to pay in relation to having all your gains in a Roth IRA where they are tax deferred until such time that they become tax free. 2) You could sell the highest basis investments to fund the AT 401k contributions and pay the lower LTC...
by DJB
Sun May 25, 2014 10:44 am
 
Forum: Investing - Help with Personal Investments
Topic: 401K in-kind rollover vs. taxable
Replies: 5
Views: 475

401K in-kind rollover vs. taxable

Hi All, I just found out my work 401K offers after tax contributions (10% of my salary) and four in-kind rollovers per year. I've read about this and spoken with my Fidelity 401K rep, and it seems fairly straightforward to roll this into my current Vanguard Roth IRA. A couple questions about this: 1...
by DJB
Sat May 24, 2014 9:18 pm
 
Forum: Investing - Help with Personal Investments
Topic: 401K in-kind rollover vs. taxable
Replies: 5
Views: 475

Thoughts on prenups

This question is more hypothetical than actual at this point, but I would love to hear your thoughts on prenups as it may one day become more real for me. I'm 29 and have accumulated assets in the mid six figures, and it's unlikely that the person I end up marrying will not have close to these asset...
by DJB
Sat May 10, 2014 6:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Thoughts on prenups
Replies: 99
Views: 4281

Re: Portfolio help. Self employed and a converted Boglehead

It sounds like you've learned a lot from these forums and are definitely on the right track. 60/40 allocation seems reasonable to me at your age. As for changes, I would probably bite the bullet and sell the high expense ratio funds in your portfolio: blue chip growth, capital appreciation, small ca...
by DJB
Thu Dec 26, 2013 1:28 pm
 
Forum: Investing - Help with Personal Investments
Topic: Portfolio help. Self employed and a converted Boglehead
Replies: 2
Views: 290

Re: Deer in the headlights. Please help me get off the fenc

Last year, I did just what you are proposing: I sold all my taxable equities and created the 3-fund portfolio. I did indeed foot quite the tax bill in April. This worked out fine, but in retrospect I probably wouldn't have ripped the bandaid off so fast. I would have sold as much of the individual s...
by DJB
Tue Dec 24, 2013 11:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Deer in the headlights. Please help me get off the fence...
Replies: 8
Views: 1589

Re: Long-term disability insurance

The option I'm considering is 50% salary replacement (pre or post tax) and would cost me $360 next year out of my paycheck. I am confused. What is the annual cost for this policy? $360 per year sounds like a very good price. Does your employer subsidize the expense? Everyone in my organization is o...
by DJB
Wed Oct 30, 2013 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: Long-term disability insurance
Replies: 22
Views: 1849

Long-term disability insurance

It is open enrollment season at my company (and many others too, I'm sure), and I am debating whether or not to buy long-term disability insurance. I'd appreciate any guidance for how to approach this decision. The option I'm considering is 50% salary replacement (pre or post tax) and would cost me ...
by DJB
Tue Oct 29, 2013 10:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Long-term disability insurance
Replies: 22
Views: 1849

Re: Travel in Japan, Taiwan, Korea

Wow, this is amazing advice. Thank you to everyone who took the time to contribute. I feel like I have a starting point now for how to allocate my time. I'd still love any other input if anyone has any!

Thanks again.
by DJB
Sun Oct 20, 2013 2:24 pm
 
Forum: Personal Consumer Issues
Topic: Travel in Japan, Taiwan, Korea
Replies: 17
Views: 2547

Travel in Japan, Taiwan, Korea

Hi All, I have been impressed with the quality of travel-related advice on these forums, so I thought I would ask for my upcoming trip to Asia. This January, I will have 9 days in Japan, 4 days in Taiwan, and 5 days is Korea. I'm 29, male, and will be traveling solo - and sadly, English is my only l...
by DJB
Sun Oct 20, 2013 12:24 am
 
Forum: Personal Consumer Issues
Topic: Travel in Japan, Taiwan, Korea
Replies: 17
Views: 2547

Re: Overseas Travel Adventure - Africa

I lived in Kenya for 6 months and have spent some time in Tanzania as well. I'm guessing I'm younger than you are (29), so take this with a grain of salt. My parents have done a couple OAT trips and have always had great experiences - everything taken care of, and a nice group of relatable travelers...
by DJB
Sat Oct 19, 2013 12:54 pm
 
Forum: Personal Consumer Issues
Topic: Overseas Travel Adventure - Africa
Replies: 18
Views: 1391

Re: Cash Poor

I have been feeling similar to OP recently. I don't keep much cash on hand, but I have lots of taxable funds I could sell on case of an emergency. Regardless, I feel the desire to have more cash on hand for the flexibility: it would be nice to be able to max out my Roth on Jan 1. Or buy a new car in...
by DJB
Fri Oct 11, 2013 1:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: Cash Poor [Keep "cash on-hand" or use for investing]
Replies: 45
Views: 4333
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