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Re: 0% Furniture Credit

I just can't with this board anymore.

Answer: if you make the payments on time, yes, it is worth it. As long as there are positive risk-free rates of return in the market, there is no other correct answer.
by Zytos
Wed Oct 08, 2014 4:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: 0% Furniture Credit
Replies: 29
Views: 1314

Re: Reaching Severe Burnout - Can I Scale Back Career?

Sounds like you have succeeded, as you say, in avoiding lifestyle creep. Looks like renting has helped. You could be like me, chained to a high mortgage and high taxes in a high COL area. Cut back.
by Zytos
Wed Jul 23, 2014 10:59 am
 
Forum: Personal Finance (Not Investing)
Topic: Reaching Severe Burnout - Can I Scale Back Career?
Replies: 50
Views: 6212

Re: Urge to buy a house every rent increase

xiosen wrote:I am not entirely sure why you think I am "cranky"?


Because having a mortgage application rejected put you "over the edge" caused you to go "backpacking in Canada for 4 months." That is not really a normal, adult response.
by Zytos
Thu Apr 03, 2014 11:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Urge to buy a house every rent increase
Replies: 29
Views: 1718

Re: Will we be ok?

I want to know where you live in NYC such that you only have $130k remaining on a 15-year mortgage at your age and at your income.
by Zytos
Thu Mar 13, 2014 9:38 am
 
Forum: Personal Finance (Not Investing)
Topic: Will we be ok?
Replies: 45
Views: 4418

Re: How do I stop worrying about money?

Take a break from this board.
by Zytos
Mon Mar 10, 2014 3:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: How do I stop worrying about money?
Replies: 72
Views: 8518

Re: New York Property Tax Grievance

Just try if yourself for the first time and see what happens. I'm one for one in Nassau County.
by Zytos
Tue Mar 04, 2014 2:18 pm
 
Forum: Personal Finance (Not Investing)
Topic: New York Property Tax Grievance
Replies: 5
Views: 428

Re: Skip IRA for 1 year to buy engagement ring

"You guys are so out of touch. A deposit into your fiance's Roth IRA in lieu of engagement ring. Any normal woman, and that normal woman's friends, would be mortified. I am talking about normal society. This would be mocked mercilessly. Print out the debit from Vanguard.com? Put a bow on it an...
by Zytos
Fri Feb 21, 2014 11:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Skip IRA for 1 year to buy engagement ring
Replies: 194
Views: 13725

Re: Skip IRA for 1 year to buy engagement ring

Is she making Roth contributions? If not, put it in her account! It would always be there for her until she needs it!!! This is actually quite a clever suggestion. It speaks to your values. And it is a sure sign of commitment. At least I would have no qualms about proposing this. She might surprise...
by Zytos
Thu Feb 20, 2014 1:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Skip IRA for 1 year to buy engagement ring
Replies: 194
Views: 13725

Re: Skip IRA for 1 year to buy engagement ring

Oh, here go hell come...
by Zytos
Tue Feb 18, 2014 5:28 pm
 
Forum: Personal Finance (Not Investing)
Topic: Skip IRA for 1 year to buy engagement ring
Replies: 194
Views: 13725

Re: Newly Married and Taxed

Perhaps it is because you have disparate incomes, and the lower wage-earner is being taxed as if he/she is in a lower bracket.

Get used to it.
by Zytos
Mon Feb 10, 2014 5:46 pm
 
Forum: Personal Finance (Not Investing)
Topic: Newly Married and Taxed
Replies: 39
Views: 2502

Re: Home Affordability - Good Income, Luxury Home

NoVa Lurker wrote:Is it excessively risky to take out a $200k mortgage with a $200k annual household income?


Only on this board is that a question not merely rhetorical, but actually to be debated.
by Zytos
Tue Jan 28, 2014 1:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: UPDATE - Home Affordability - Good Income, Luxury Home
Replies: 34
Views: 3607

Re: Home Affordability - Good Income, Luxury Home

ThatGuy wrote:No, you should only buy at 2x the lower of the two incomes assuming you can pay it off on a 15 year note. You never know what might happen and you should plan for the Great Depression II just in case.


+1
by Zytos
Tue Jan 28, 2014 11:08 am
 
Forum: Personal Finance (Not Investing)
Topic: UPDATE - Home Affordability - Good Income, Luxury Home
Replies: 34
Views: 3607

Re: Term life - for how long?

Also would go with the 20-year policy. Question : One way of thinking is--why get life insurance, since if you're dead, why do you care what happens afterwards? You're dead; you can't have such feelings. If you have these thoughts, does it mean you do not truly love your family? Or are you merely be...
by Zytos
Fri Jan 24, 2014 9:37 am
 
Forum: Personal Finance (Not Investing)
Topic: Term life - for how long?
Replies: 36
Views: 2390

Re: Switch Entirely To Ally Bank?

Apparently Ally does not accept deposits of checks made out to "Cash" unless you mail them in (meaning you cannot deposit them through a smartphone app). I thought that was a hassle, so I switched to a local branch. Just FYI.
by Zytos
Thu Nov 14, 2013 10:11 am
 
Forum: Personal Finance (Not Investing)
Topic: Switch Entirely To Ally Bank?
Replies: 39
Views: 4727

Re: 250k Student Loan Payment Schedule

That is indeed a tough nut. I had ~$100k upon graduation in loans before starting NYC BIGLAW, and paid it off in about three years. Five years after graduation (and still in NYC BIGLAW) I have $400k in taxable+retirement accounts and $200k equity in a house. Stick with it.
by Zytos
Wed Nov 06, 2013 12:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: 250k Student Loan Payment Schedule
Replies: 47
Views: 5070

Re: 250k Student Loan Payment Schedule

I would also advise that you max out your 401(k) contributions, as a poster above said. You will likely be in AMT land (you will itemize due to high NYS and NYC income taxes), and 401(k) contributions avoid that.
by Zytos
Mon Nov 04, 2013 3:06 pm
 
Forum: Personal Finance (Not Investing)
Topic: 250k Student Loan Payment Schedule
Replies: 47
Views: 5070

Re: 250k Student Loan Payment Schedule

Do yourself a favor and live in Queens, if you work in midtown. Astoria or LIC or something. Also do not blow money going out drinking with other associates in Manhattan. Go back to your cheap Queens apartment and play video games. That loan will be paid off in no time.
by Zytos
Mon Nov 04, 2013 2:34 pm
 
Forum: Personal Finance (Not Investing)
Topic: 250k Student Loan Payment Schedule
Replies: 47
Views: 5070

Re: Want to have kids, scared of the financial consequences

Stop reading this forum and have kids. You'll have nearly $600k saved in retirement by 35 and think you're "just doing OK?" Seriously, stop reading this forum, which is filled with ultra-conservative worriers, have the kid(s), and be happy.
by Zytos
Fri Oct 25, 2013 3:05 pm
 
Forum: Personal Finance (Not Investing)
Topic: Want to have kids, scared of the financial consequences
Replies: 95
Views: 6275

Re: Home Affordability [check my calculations]

I think most Bogleheads are way too conservative when it comes to first home purchases, and even I think you're spreading yourself too thin. My wife and I, at 28, had around your combined income three years ago, put 20% down on a $670k house in a high-taxed area (~$12k property taxes/yr), and I thin...
by Zytos
Fri Oct 18, 2013 8:55 am
 
Forum: Personal Finance (Not Investing)
Topic: Home Affordability [check my calculations]
Replies: 85
Views: 5689

Re: Soliciting Some Opinions Here...

donaldfair71 wrote:Even though our mortgage is high for two teachers (182K @ 2.675 for 20 yrs, 1 year in),


Really? Maybe under the ultra-conservative Boglehead way of thinking. But I disagree. Seems low enough for your area. And that rate is crazy low.
by Zytos
Fri Jul 19, 2013 9:05 am
 
Forum: Personal Finance (Not Investing)
Topic: Soliciting Some Opinions Here... [Household budget]
Replies: 10
Views: 1121

Re: Do we have enough to retire?

If people like the OP cannot retire, the rest of us might as well stop planning on retiring. Tomorrow I will stop all contributions to retirement accounts and I will plan on working until I drop dead. That is essentially what most are saying. Can your portfolio survive the onset of World War III or...
by Zytos
Fri Mar 15, 2013 12:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do we have enough to retire?
Replies: 106
Views: 13189

Re: Your Home Equity / Net Worth Ratio?

1. 37% (Long Island, NY)
2. No. Probably around 24-25 years to go.
by Zytos
Thu Mar 14, 2013 2:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Your Home Equity / Net Worth Ratio?
Replies: 69
Views: 3115

Re: how much leverage in buying a house?

It's posts like the OP that give me a reality check, and remind me how much the posters on this board are truly on the fringe of society's spending habits (ultra, ultra, ultra conservative).
by Zytos
Wed Mar 13, 2013 10:53 am
 
Forum: Personal Finance (Not Investing)
Topic: how much leverage in buying a house?
Replies: 13
Views: 1788

Re: Need help figuring out how to reduce expenses and pay de

$100/month for haircuts? Okay, I wasn't sure if I was the only one somewhat shocked by that number. I know I stretch out the time between haircuts, so I'm pretty sure I'm on the low end of monthly haircut expenses. I pay $15 with tip every 3 months, and my wife pays maybe $30 once a year. So that's...
by Zytos
Mon Mar 04, 2013 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Need help figuring out how to reduce expenses and pay debt
Replies: 21
Views: 1889

Re: Inflation.....I have not seen much in 10 years

Cut-Throat wrote:$24 - AOL internet Cost - Dial up 100 kbps


Weren't 56k's the final dial-up modems?
by Zytos
Thu Feb 21, 2013 11:23 am
 
Forum: Personal Finance (Not Investing)
Topic: Inflation.....I have not seen much in 10 years
Replies: 56
Views: 2968

Re: Where were you financially in your late twenties?

Bogle101 wrote:28.5 years old

~80k in taxable mutual funds
~15K in stocks and etfs
~50k in 401(k)
~50k in Roth IRA

I fear im behind the curve as well.



Oh come on. Seriously?
by Zytos
Tue Feb 19, 2013 2:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Where were you financially in your late twenties?
Replies: 191
Views: 12282

Re: Shocked, renting cheaper for me than buying home..

Renting was cheaper in my high-cost area (buying on Long Island, NY vs. renting in Queens) but this was one of those few situations where we made the financially irrational decision to buy. For future kids and general desire to own our home, and whatnot.
by Zytos
Fri Feb 08, 2013 12:35 pm
 
Forum: Personal Finance (Not Investing)
Topic: Shocked, renting cheaper for me than buying home..
Replies: 8
Views: 1488

Re: 2012 Retroactive Transit Pre-Tax Increase (Need revised

A little history for those care: For years, the IRS has allowed you to exclude certain qualifying commuting expenses for mass transit and parking costs if your employer sets up a way to have these funded through a payroll deduction. The monthly limit is adjusted annually for inflation, and historic...
by Zytos
Fri Feb 01, 2013 3:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: 2012 Retroactive Transit Pre-Tax Increase (Need revised W2?)
Replies: 7
Views: 1165

Re: Finally!!! [Net Worth Back to 2007 Level]

Congrats. Must be a good feeling. I feel like I was just born at the right time. Graduated law school in 2008, started my 401(k) shortly thereafter. Bought a house in 2011. Were I a few years older I'd probably be feeling the pain instead of the boon of the stock market and bottom of the RE market. ...
by Zytos
Fri Feb 01, 2013 10:49 am
 
Forum: Personal Finance (Not Investing)
Topic: Finally!!! [Net Worth Back to 2007 Level]
Replies: 22
Views: 4113

Re: The Typical Student Loan or Roth Question

BIGLAW is your (fiance's) answer to this problem. Grind it out for a few years and become debt free.
by Zytos
Fri Jan 25, 2013 2:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Typical Student Loan or Roth Question
Replies: 7
Views: 609

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