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Re: List of Worst financial advice (what not to do):

I was at a dinner party at my next door neighbor's (he's worth about $20 million) and he said, "Diversification is stupid. I only invest in tech." (He made his money selling a business, not from investing.) :D
by RenoJay
Tue Jul 08, 2014 10:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: List of Worst financial advice (what not to do):
Replies: 144
Views: 16234

Re: Financial porn - today's edition courtesy of CNN

I read that article yesterday. I also mentioned that he pulled all his money out of equities at the end of 2007. That alone was a pretty savvy move.
by RenoJay
Sun Jun 08, 2014 1:55 pm
 
Forum: Investing - Theory, News & General
Topic: Investment porn - today's edition courtesy of CNN
Replies: 15
Views: 3049

Re: High P/E = high future returns?

The bigger indicator for me is that lately I've seen lots of posts, articles, new stories, etc. with compelling-sounding reasons about why stocks are not expensive, why they should keep going up, etc. That's my queue to rebalance out of equities a bit. Similar favorable stories were very common in 1...
by RenoJay
Sun Jun 08, 2014 12:02 pm
 
Forum: Investing - Theory, News & General
Topic: High P/E = high future returns?
Replies: 20
Views: 1481

Re: The 2 comma paradox

I do worry. It's just my nature. I'm in awe of the people who truly can set-it-and-forget-it because I don't fit into that camp. When I do start to worry, I usually use some math equations to remind myself that at the new number lower number I'm still in fine financial shape logically. That typicall...
by RenoJay
Sat Jun 07, 2014 11:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: The 2 comma paradox
Replies: 155
Views: 14485

Sell stocks now to buy house in 2 years?

I have a friend who wants to buy a house in about two years. It'll likely be a cash deal for the house, and most of the funds are currently in index funds at Vanguard in a taxable account which has fairly substantial unrealized long term capital gains. Should she: 1. Sell enough equities now to cove...
by RenoJay
Mon Jun 02, 2014 11:36 am
 
Forum: Investing - Help with Personal Investments
Topic: Sell stocks now to buy house in 2 years?
Replies: 10
Views: 958

Re: Any benefit to a prenup for us?

A lot of people are saying it's too late, but I'd suggest getting a POST-nup after the wedding. Sounds like you and your betrothen are basically on the same page for now, so a post-nup should be non controversial and probably more enforceable in court than a pre-nup since neither one is holding the ...
by RenoJay
Wed May 07, 2014 2:21 pm
 
Forum: Personal Finance (Not Investing)
Topic: Any benefit to a prenup for us?
Replies: 59
Views: 3976

Re: How much did I spend?

It's interesting...within the course of this discussion, there has been suggestion that the full amount paid counts as expense and that none of it counts as expense. That just shows that seemingly concrete rules of thumb, such as "The 4% Rule" are truly wishy washy because there is not uni...
by RenoJay
Sun Apr 27, 2014 7:26 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much did I spend? [mortgage question]
Replies: 43
Views: 12167

Re: How much did I spend?

I'm the original poster. Thanks for the lively debate. I actually didn't see the other thread that's being referred to. The basis of the question is this: I'm considering early retirement in a few years. I'll have about 11 years left on my mortgage at that time. I have reasonable confidence that the...
by RenoJay
Fri Apr 25, 2014 10:45 am
 
Forum: Personal Finance (Not Investing)
Topic: How much did I spend? [mortgage question]
Replies: 43
Views: 12167

How much did I spend? [mortgage question]

If I had a theoretical mortgage payment of $3,000 a month, and half of it went to interest and half to principle, did I spend $3,000, or did I spend $1,500 and reallocate $1,500 from cash to home equity?
by RenoJay
Thu Apr 24, 2014 11:31 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much did I spend? [mortgage question]
Replies: 43
Views: 12167

Re: Advise on Ads when browsing the internet

Google "Ad Block." I believe it works on Chrome.
by RenoJay
Thu Apr 24, 2014 10:47 pm
 
Forum: Personal Consumer Issues
Topic: Advise on Ads when browsing the internet
Replies: 4
Views: 526

Re: Life in the Bay Area and housing costs

I grew up in South Bay. The weather is lovely, but there's really no reason to stay there unless you're a high tech employee with lots of unvested, valuable stock options or if you have a strong connection to the area. I moved to Reno about 10 years ago and haven't regretted. The cost of everything...
by RenoJay
Thu Apr 10, 2014 10:50 pm
 
Forum: Personal Consumer Issues
Topic: Life in the Bay Area and housing costs
Replies: 51
Views: 4761

Re: Life in the Bay Area and housing costs

I grew up in South Bay. The weather is lovely, but there's really no reason to stay there unless you're a high tech employee with lots of unvested, valuable stock options or if you have a strong connection to the area. I moved to Reno about 10 years ago and haven't regretted. The cost of everything ...
by RenoJay
Thu Apr 10, 2014 8:25 pm
 
Forum: Personal Consumer Issues
Topic: Life in the Bay Area and housing costs
Replies: 51
Views: 4761

Re: Buffett hasn't beaten the market regularly since '07

Packer, thanks for the response. I'd be lying if I claimed I understood all of it, but I still have the question that if Buffett has control of book value of BRK, wouldn't CEOs of other S&P 500 firms have control of the book value of their stocks? Aren't they subject to the same wisdom of the cr...
by RenoJay
Sun Apr 06, 2014 9:31 pm
 
Forum: Investing - Theory, News & General
Topic: Buffett hasn't beaten the market regularly since '07
Replies: 20
Views: 2666

Re: Buffett hasn't beaten the market regularly since '07

I hope this isn't too off-topic, but Buffett compares Berkshire's "book value" against the actual return of the S&P 500 including dividends. This always struck me as an apples to oranges comparison since, if shareholders are forced to liquidate their BRK holdings, they don't get the ch...
by RenoJay
Sun Apr 06, 2014 1:40 pm
 
Forum: Investing - Theory, News & General
Topic: Buffett hasn't beaten the market regularly since '07
Replies: 20
Views: 2666

Re: Going from S-Corp to Sole Proprietor

Thank you all for the excellent feedback and advice!
by RenoJay
Sun Apr 06, 2014 11:43 am
 
Forum: Personal Finance (Not Investing)
Topic: Going from S-Corp to Sole Proprietor
Replies: 7
Views: 953

Going from S-Corp to Sole Proprietor

I will follow up with my CPA on these questions, but first I was hoping to tap some Boglehead wisdom. For ten years I’ve owned an S-Corp. In the old days, I had lots of revenue from websites running through it, but lately it’s mostly a vehicle for commission income I earn from doing sales. I learned...
by RenoJay
Fri Apr 04, 2014 11:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Going from S-Corp to Sole Proprietor
Replies: 7
Views: 953

Re: What was your dumbest financial decision?

I bought a house in Nevada in late 2006. I knew there was a housing bubble and had been a renter from 2002-2006. Then, after I saw the local market fall 20%, I figured it was a safe time to get in. Then I watched prices continue to plummet for years. Now we're on the upswing, but the value is still ...
by RenoJay
Sun Mar 02, 2014 10:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: What was your dumbest financial decision?
Replies: 106
Views: 9438

Re: Should I let a credit card expire?

I recently canceled a Chase card I've had since 2003 with a 25k credit limit and within a few weeks received an alert from Equifax informing me that my FICO score had dropped 12 points. Still have about $150k in unsecured credit and never carry a balance so I wouldn't think closing the account woul...
by RenoJay
Thu Feb 27, 2014 7:42 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I let a credit card expire?
Replies: 8
Views: 1260

Should I let a credit card expire?

I received notice that a credit card which is buried deep in my drawer somewhere is going to be cancelled due to non-use unless I renew it soon. The card has a limit which is only about 6% of our total, available revolving credit, and we only utilize about 6-8% of our available revolving credit (and...
by RenoJay
Wed Feb 26, 2014 7:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Should I let a credit card expire?
Replies: 8
Views: 1260

Re: Warning about P2P Lending [Peer-to-Peer]

Instead, I'd rather loan $250k against a property worth $450k, get a fixed rate of 9% - 10% and be done with it. (Which is pretty much what the collateral-backed lending I've done looks like.) I'm still amazed you can find people that are smart enough to have saved a $200k down-payment, yet dumb en...
by RenoJay
Fri Feb 21, 2014 8:33 pm
 
Forum: Investing - Theory, News & General
Topic: Warning about P2P Lending [Peer-to-Peer]
Replies: 42
Views: 5760

Re: Warning about P2P Lending [Peer-to-Peer]

For those who have done consistently well with P2P (i.e. 8%+ returns for more than three years), I would be very interested to learn what you did/do differently from me. If you're willing to share, these details would be valuable: 1. When did you start? 2. How big are your loans? 3. How many loans ...
by RenoJay
Fri Feb 21, 2014 2:41 pm
 
Forum: Investing - Theory, News & General
Topic: Warning about P2P Lending [Peer-to-Peer]
Replies: 42
Views: 5760

Re: Warning about P2P Lending [Peer-to-Peer]

For those who have done consistently well with P2P (i.e. 8%+ returns for more than three years), I would be very interested to learn what you did/do differently from me. If you're willing to share, these details would be valuable: 1. When did you start? 2. How big are your loans? 3. How many loans d...
by RenoJay
Fri Feb 21, 2014 11:38 am
 
Forum: Investing - Theory, News & General
Topic: Warning about P2P Lending [Peer-to-Peer]
Replies: 42
Views: 5760

Re: Warning about P2P Lending [Peer-to-Peer]

I think the mistake people make is treating this in accordance with the Bogle-ish principle of broad diversification (and relative agnosticism to the individual borrower). There are too few borrowers using these platforms for investors to really benefit from diversification. You either have to trea...
by RenoJay
Wed Feb 19, 2014 7:53 pm
 
Forum: Investing - Theory, News & General
Topic: Warning about P2P Lending [Peer-to-Peer]
Replies: 42
Views: 5760

Re: Attic Insulation Retrofit: Spray Foam Insulation

All I know is that I got quotes a few years, and the spray foam insulation was easily 5x more expensive.
by RenoJay
Wed Feb 19, 2014 2:55 pm
 
Forum: Personal Consumer Issues
Topic: Attic Retrofit: Spray Foam Insulation [Updated w Images]
Replies: 40
Views: 3898

Re: Warning about P2P Lending [Peer-to-Peer]

RenoJay, thanks for sharing your experience. I would be interested in hearing more information like the number of notes you had, loan grades, weighted average interest rate etc. There are a lot of factors that play a role in p2p lending and those who are getting 8-10% returns once notes are seasone...
by RenoJay
Wed Feb 19, 2014 11:02 am
 
Forum: Investing - Theory, News & General
Topic: Warning about P2P Lending [Peer-to-Peer]
Replies: 42
Views: 5760

Warning about P2P Lending [Peer-to-Peer]

Hi All, About two years ago I was one of the big proponents on this board for P2P lending through LendingClub and Prosper. I just want to post a caution that I've changed my tune 180 degrees. Starting about eight or nine months ago, I noticed the monthly interest collected was rapidly dwindling to t...
by RenoJay
Tue Feb 18, 2014 10:47 pm
 
Forum: Investing - Theory, News & General
Topic: Warning about P2P Lending [Peer-to-Peer]
Replies: 42
Views: 5760

Re: High Umbrella Limits - A waste

We are very glad that one particular person DID purchase umbrella coverage. WE would have been destitute at that point in our lives, and/or our child would not have had the care that was, in fact, provided. (And there might NOT have been as good a recovery.) What bills did you have that wouldn't ha...
by RenoJay
Mon Jan 27, 2014 11:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: High Umbrella Limits - A waste
Replies: 77
Views: 7843

Re: High Umbrella Limits - A waste

Just out of curiosity, after reading this thread last night I decided to see what it would cost to double my umbrella from $5 MM to $10 MM. My premium for $5 MM is around $1,100/year. I only found one carrier who would do $10 MM (GEICO) and their quote was around $3,400/year. I was dumbfounded and t...
by RenoJay
Mon Jan 27, 2014 11:52 am
 
Forum: Personal Finance (Not Investing)
Topic: High Umbrella Limits - A waste
Replies: 77
Views: 7843

Re: unanticipated savings (or costs) of stay at home parent?

My unexpected cost of my wife staying home is that when the kids are at school she seems to always discover some product on the Internet that we just need to have. :oops:
by RenoJay
Sun Jan 26, 2014 10:32 pm
 
Forum: Personal Consumer Issues
Topic: unanticipated savings (or costs) of stay at home parent?
Replies: 18
Views: 1510

Re: Grrr...unexpected capital gain distribution

Just use specific ID and sell the shares that were automatically reinvested. If they have a loss, that's tax-loss harvesting :) If they have a gain, that's better than they would've done in your checking or mm account. Livesoft: This is an interesting tip, although if I've previously chosen a diffe...
by RenoJay
Mon Dec 23, 2013 9:32 pm
 
Forum: Investing - Theory, News & General
Topic: Grrr...unexpected capital gain distribution
Replies: 18
Views: 2456

Re: Grrr...unexpected capital gain distribution

Putting them into an MM fund doesn't change the tax due (except for the a small amt of CG distributions on those CG distributions next year. Yes, I'm aware of that but the goal is to lessen my equity exposure so I hate the fact that this was automatically reinvested into a fund in which I'd rather ...
by RenoJay
Mon Dec 23, 2013 4:42 pm
 
Forum: Investing - Theory, News & General
Topic: Grrr...unexpected capital gain distribution
Replies: 18
Views: 2456

Grrr...unexpected capital gain distribution

Early this year I decided I no longer wanted any automatic reinvestment of capital gains or dividends in my taxable accounts. I went through the Vanguard screens and thought I had checked all the correct boxes to have these pay outs put into a money market fund. Lo and behold...I just discovered an ...
by RenoJay
Mon Dec 23, 2013 3:31 pm
 
Forum: Investing - Theory, News & General
Topic: Grrr...unexpected capital gain distribution
Replies: 18
Views: 2456

Re: Retiring at 50

When I left work at the end of 2003 I never imagined that I would have a higher value portfolio and net worth ten years on...especially after some of the market's antics over that period. You just never know how the chips will fall. Enjoy it while you can. That's remarkable given the timing. Any ch...
by RenoJay
Thu Nov 21, 2013 10:03 pm
 
Forum: Personal Consumer Issues
Topic: Retiring at 50
Replies: 67
Views: 8770

Re: Retiring at 50

I'm thinking of retiring sometime between 45 - 50. A few sites I've enjoyed that are dedicated to this topic are:

http://www.early-retirement.org/

http://www.caniretireyet.com/
by RenoJay
Thu Nov 21, 2013 9:59 pm
 
Forum: Personal Consumer Issues
Topic: Retiring at 50
Replies: 67
Views: 8770

Re: How to deal with the temptation to pullback on stocks

For me, I was 85% in equities when the market tanked in 2008/2009. I stayed the course, but it ate me up inside. I had a ton of anxiety. So I realized that was way too high an allocation to equities. Eventually I figured out that 50/50 is right for me, and I waited until the market had made a nice r...
by RenoJay
Thu Nov 21, 2013 7:57 pm
 
Forum: Investing - Theory, News & General
Topic: How to deal with the temptation to pullback on stocks
Replies: 35
Views: 2318

Re: Stay put as mortgage slave or relocate?

Is it possible to sell the underwater home and simply eat the loss yourself so it's out of your hair? I've had situations where I needed to make a tough choice of either sticking with something I hated or taking a big loss and moving on with my life. I chose the latter, and within a month or two I r...
by RenoJay
Tue Nov 19, 2013 11:19 am
 
Forum: Personal Finance (Not Investing)
Topic: Stay put as mortgage slave or relocate?
Replies: 23
Views: 3391

Re: how much more expensive is a bigger home?

Don't do it. I upgraded to a 4,000+ sq foot home and I regret it. In addition to buying at the wrong time and watching the value plummet, the utility bills are very high, it takes forever to walk from A to B in the house, and the yard maintenance gives me palpitations since something is always going...
by RenoJay
Tue Nov 19, 2013 11:15 am
 
Forum: Personal Consumer Issues
Topic: how much more expensive is a bigger home?
Replies: 68
Views: 4978

Re: windfall in high tax california, what to do

For a large, one-time event like yours it's worth paying a good California-based accountant for an hour of advice. Congrats on the windfall, by the way!
by RenoJay
Mon Nov 18, 2013 1:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: windfall in high tax california, what to do
Replies: 20
Views: 2003

Re: Have I put too much into the 529 plan?

I put in about $60k each into my kids' 529s, and the rest into UTMA accounts with the intent of that money being used for college. At this point in their young lives, I feel it's way too early to know if they'll go Ivy League, state school, community college or into the trades and also whether they'...
by RenoJay
Sun Nov 17, 2013 8:54 pm
 
Forum: Investing - Theory, News & General
Topic: Have I put too much into the 529 plan?
Replies: 33
Views: 5896

Re: Financial failures

Buying a big house. It's a money pit.
by RenoJay
Mon Nov 11, 2013 8:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Financial failures
Replies: 55
Views: 3317

Re: Large Inheritance -- moving toward income

What form was the inheritance? If you inherited IRAs, there are some strict rules about how those need to be titled to avoid big tax penalties. While I think paying an "advisor" .6% - 1.2% is totally unnecessary, I would pay a good CPA $200/hour to advise you on titling all these assets so...
by RenoJay
Mon Nov 11, 2013 2:05 pm
 
Forum: Investing - Help with Personal Investments
Topic: Large Inheritance -- moving toward income
Replies: 15
Views: 2423

Re: Important Change to Ally CDs

What is this like the fifth time this "news" has been posted over the past few weeks? I'm kind of offended that there seems to be an expectation that no one can open their mouths unless they've thoroughly searched every thread ever posted. I visit this site daily. I had not seen any repor...
by RenoJay
Mon Nov 11, 2013 1:44 pm
 
Forum: Forum Issues and Administration
Topic: Important Change to Ally CDs [turned into search tips]
Replies: 23
Views: 2542

Re: Feeling less than Successful lately

I have started four businesses and I now sell businesses for others. I can't tell you the number of corporate people I've seen who have lost a big chunk of their lifesavings either buying or starting a business. I went this route because I simply could not work for others. Fortunately I was successf...
by RenoJay
Mon Nov 11, 2013 1:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: Feeling less than Successful lately
Replies: 58
Views: 6183

Re: Private Money Lending

This morning I found this article about private money lending on marketwatch.com: http://www.marketwatch.com/story/bank-wont-give-you-a-home-loan-ask-hank-2013-11-11 By the time an article like this comes out, I figure the asset class has maybe two more good years before it totally devolves into the...
by RenoJay
Mon Nov 11, 2013 11:38 am
 
Forum: Investing - Help with Personal Investments
Topic: Private Money Lending
Replies: 102
Views: 8154

Re: Acura RDX or BMW X3?‏

I've never owned a BMW, but have owned numerous Acuras. Overall Acura is nice, but my most recent model (a 2012 MDX) feels "cheap" in some ways, although the handling, turning, and cool electronic features are pretty nice.
by RenoJay
Sat Nov 09, 2013 7:22 pm
 
Forum: Personal Consumer Issues
Topic: Acura RDX or BMW X3?‏
Replies: 34
Views: 4278

Important Change to Ally CDs [turned into search tips]

Many of us own Ally CD's in large part because of the 60 day interest penalty for early withdrawals, which is a relatively mild penalty. For CD's opened on 12/7/13 or later, the new penalties will be: 90 days' interest on 3 year CD 120 days' interest on 4 year CD 150 days interest on 5 year CD It's ...
by RenoJay
Sat Nov 09, 2013 12:01 pm
 
Forum: Forum Issues and Administration
Topic: Important Change to Ally CDs [turned into search tips]
Replies: 23
Views: 2542

Re: Private Money Lending

Why would someone want to undertake this level of complexity for what is essentially I geographically undiversified portfolio of loans. And, provide a cut to a middle man at the same time. What is the anticipate rate of return that one is looking at with this investment and is it high enough to com...
by RenoJay
Thu Nov 07, 2013 7:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Private Money Lending
Replies: 102
Views: 8154

Re: Private Money Lending

Ok...understand on the pool manager risk. So, if I was to do on my own, and being I don't live in a very large area (thus not many opportunities), would you recommend a service like the below to find potential loans? http://www.loanmls.com Or just stay away from this if you can't actually visit the...
by RenoJay
Thu Nov 07, 2013 5:51 pm
 
Forum: Investing - Help with Personal Investments
Topic: Private Money Lending
Replies: 102
Views: 8154

Re: Private Money Lending

Appreciate the input from both of you. As I said earlier, I would not recommend the pool route. I'm wondering if you would give some detailed reasoning why you wouldn't recommend the pool route. I did just look thru the thread and didn't see any mention of pools. My reasoning on going the pool rout...
by RenoJay
Thu Nov 07, 2013 3:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Private Money Lending
Replies: 102
Views: 8154

Re: Private Money Lending

Appreciate the input from both of you. As I said earlier, I would not recommend the pool route. I'm wondering if you would give some detailed reasoning why you wouldn't recommend the pool route. I did just look thru the thread and didn't see any mention of pools. My reasoning on going the pool rout...
by RenoJay
Thu Nov 07, 2013 11:37 am
 
Forum: Investing - Help with Personal Investments
Topic: Private Money Lending
Replies: 102
Views: 8154
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