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Re: Lifecycle Financial Planning Spreadsheet

Wow thanks for the info. Will look at all those and possibly purchase what you suggested. Since I am self employed and my income can vary wildly every month, am I a bad or good candidate for this type of financial planning? It's the unknown swings which cause my anxiety and I feel like that actually...
by assumer
Mon Jul 21, 2014 2:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Lifecycle Financial Planning Spreadsheet
Replies: 3
Views: 871

Lifecycle Financial Planning Spreadsheet

I stumbled upon the lifecycle planning wiki page and it really resonated with me. It causes me a significant amount of stress being a young person at the start of his career not knowing my future income, blind to future expenses, etc. I think the idea that you simply keep a straight trajectory of ex...
by assumer
Mon Jul 21, 2014 12:42 am
 
Forum: Personal Finance (Not Investing)
Topic: Lifecycle Financial Planning Spreadsheet
Replies: 3
Views: 871

Re: New Sole Proprietorship Retirement Questions

I got this from Fidelity's site. Seems too good to be true. But as I read it with the 401k you can deduct the 17.5k and the 20-25% of profit from your taxable amount. If so this clearly seems to be the way to go for small business owners who are self employed. I don't see where it says SP though so...
by assumer
Sun Jul 13, 2014 11:29 am
 
Forum: Investing - Help with Personal Investments
Topic: New Sole Proprietorship Retirement Questions
Replies: 13
Views: 1120

Re: A Big Thank You After Visiting Accountant

I very much enjoyed reading the original post in this thread by assumer. Thank you for the compliment. What age gives you is life experience and perspective. The smart people who learn from their mistakes and the mistakes of others develop wisdom. You get to a point that you have been around long e...
by assumer
Sun Jul 13, 2014 11:21 am
 
Forum: Local Chapters and Bogleheads Community
Topic: A Big Thank You After Visiting Accountant
Replies: 17
Views: 2534

Re: What after-tax income could you live on today?

For the past 3 years during my phd up until this year, I had an after-tax stipend of $25k a year and saved $5k a year. So I could live on $20k / year. Don't want to, but could.

You'd be surprised what you could live on if push came to shove.
by assumer
Sat Jul 12, 2014 6:51 pm
 
Forum: Personal Finance (Not Investing)
Topic: What after-tax income could you live on today?
Replies: 48
Views: 5047

Re: Tax/401(k) questions regarding LLCs

According to my CPA you pay quarterly estimated taxes after business expenses, so net profit. In my case she tells me to set aside a third of everything net for taxes. This includes the 15.5% self employment tax which has SS in it I believe. As a SP you pay all of the SS tax but get a credit on hal...
by assumer
Sat Jul 12, 2014 6:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax/401(k) questions regarding LLCs
Replies: 5
Views: 433

Re: Tax/401(k) questions regarding LLCs

daave wrote:Thanks nukewerker & assumer!


Also related discussion: viewtopic.php?f=1&t=142793
by assumer
Sat Jul 12, 2014 6:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax/401(k) questions regarding LLCs
Replies: 5
Views: 433

Re: New Sole Proprietorship Retirement Questions

The maximum 401k or SEP contribution is also maxed at a percent of your adjusted income. So it may not be the full 52k. Personally I have a SEP since the maximum allowable is higher. Though I have not made enough/year to hit the max yet. The SEP is very easy to start and maintain. lafder Based on t...
by assumer
Sat Jul 12, 2014 6:43 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Sole Proprietorship Retirement Questions
Replies: 13
Views: 1120

Re: Real Estate Prices By Region

http://www.trulia.com/home_prices/

Change the radio button to "Sale Price / Sqrt" for a good metric to look at.
by assumer
Sat Jul 12, 2014 6:38 pm
 
Forum: Personal Finance (Not Investing)
Topic: Real Estate Prices By Region
Replies: 9
Views: 1742

Re: Tax/401(k) questions regarding LLCs

For the member to spend/save the after-tax money earned by the LLC, what do they have to do? Can they simply take funds from the LLC's bank account, or must they pay themselves a salary or dividend as an employee/member? If the later, is this taxed again? If they are doing single-member, pass-throu...
by assumer
Sat Jul 12, 2014 6:36 pm
 
Forum: Personal Finance (Not Investing)
Topic: Tax/401(k) questions regarding LLCs
Replies: 5
Views: 433

Re: New Sole Proprietorship Retirement Questions

I'm not quite that experienced at this yet, but I just started an LLC this year as well. A few points: ⋅ If you're sure you aren't going to do an s-corp election (I'm definitely not going to do the election), then feel free to take money out of your business checking anytime you want throu...
by assumer
Sat Jul 12, 2014 6:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: New Sole Proprietorship Retirement Questions
Replies: 13
Views: 1120

Re: A Big Thank You After Visiting Accountant

True. Most extremely wealthy folks started a business. were involved in a successful start-up at an early stage and cashed out after the IPO, or inherited the family fortune. A few became CEO's of large corporations. However, for the vast majority of the "unwashed masses", the Boglehead p...
by assumer
Sat Jul 12, 2014 6:06 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: A Big Thank You After Visiting Accountant
Replies: 17
Views: 2534

Re: A Big Thank You After Visiting Accountant

It's always nice to hear that our work here on the forum is both helpful and appreciated. I hope that you and the other younger members will continue our work when we're no longer around. Well not just that, but hopefully it becomes more mainstream. The ways I see that happening are: 1. The general...
by assumer
Sat Jul 12, 2014 4:06 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: A Big Thank You After Visiting Accountant
Replies: 17
Views: 2534

A Big Thank You After Visiting Accountant

I went to visit an accountant yesterday to discuss my business and its tax implications. He is a prominent, accountant and handles many large companies. During the meeting, the accountant essentially told me how impressed he was at my knowledge of taxes, investments, and the tax implications of ever...
by assumer
Sat Jul 12, 2014 12:08 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: A Big Thank You After Visiting Accountant
Replies: 17
Views: 2534

Re: Increase 401k Contribution Limits through Self Loans

I have a solo 401k through etrade. They allow you to take a loan against yourself for up to $50k. They make you pay yourself back 1% or something. If I take that full loan, and pay back on a regular schedule (as well as make my normal 401k contributions), I can essentially increase the amount of ta...
by assumer
Thu Jul 10, 2014 2:04 pm
 
Forum: Investing - Help with Personal Investments
Topic: Increase 401k Contribution Limits through Self Loans
Replies: 12
Views: 670

Re: Increase 401k Contribution Limits through Self Loans

Yes, it is best to make the maximum contribution to your 401(k). Then find another way to make a down payment for a home. :) That might be difficult, but I'll try! One could borrow from the 401(k) to make a down payment, but unless one can pay off a 401(k) loan instantly, I would not recommend gett...
by assumer
Thu Jul 10, 2014 1:55 pm
 
Forum: Investing - Help with Personal Investments
Topic: Increase 401k Contribution Limits through Self Loans
Replies: 12
Views: 670

Re: Increase 401k Contribution Limits through Self Loans

Hmm maybe I'm misunderstanding this. Instead of simply keeping money for a down payment in a house in a brokerage account holding BND, for example, I figured it would be better to purchase and hold BND in my solo 401k with that money. This way I would get to deduct that money from my taxable income ...
by assumer
Thu Jul 10, 2014 1:45 pm
 
Forum: Investing - Help with Personal Investments
Topic: Increase 401k Contribution Limits through Self Loans
Replies: 12
Views: 670

Re: Increase 401k Contribution Limits through Self Loans

Not sure if I'm misunderstanding your question, but if you took that money out of your 401k wouldn't you also lose the potential dividends and equity increase over that same time period? Yes, traditionally one would use it for a mortgage down payment or something. So that money would presumably be ...
by assumer
Thu Jul 10, 2014 1:12 pm
 
Forum: Investing - Help with Personal Investments
Topic: Increase 401k Contribution Limits through Self Loans
Replies: 12
Views: 670

Increase 401k Contribution Limits through Self Loans

I have a solo 401k through etrade. They allow you to take a loan against yourself for up to $50k. They make you pay yourself back 1% or something. If I take that full loan, and pay back on a regular schedule (as well as make my normal 401k contributions), I can essentially increase the amount of tax...
by assumer
Thu Jul 10, 2014 1:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Increase 401k Contribution Limits through Self Loans
Replies: 12
Views: 670

Re: Unknown Time Horizon

It seems like the early retirement scenario involves you receiving a lot of new money in the next few years (and is not dependent on investment returns). If that happens, you can always allocate your new assets according to your new plan for your new situation. Good point. Do you have a separate em...
by assumer
Tue Jul 08, 2014 7:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Unknown Time Horizon
Replies: 12
Views: 794

Re: Unknown Time Horizon

When you get miffed that you didn't make enough money with your investments, I think you will increase their risk level. When you get miffed that you lost too much money with your investments, I think you will decrease their risk level. At some point you will reach equilibrium for a little while an...
by assumer
Tue Jul 08, 2014 2:31 pm
 
Forum: Investing - Help with Personal Investments
Topic: Unknown Time Horizon
Replies: 12
Views: 794

Re: Unknown Time Horizon

If you want to take a risk in the startup culture of entrepreneurship I do not think you can have any equity exposure (except perhaps in an IRA/ROTH for retirement purposes). You need cash to make that happen without stock market risk. You can't risk a stock market decline that erodes your capital ...
by assumer
Tue Jul 08, 2014 2:24 pm
 
Forum: Investing - Help with Personal Investments
Topic: Unknown Time Horizon
Replies: 12
Views: 794

Unknown Time Horizon

Does anybody else have an unknown time horizon? Typically one would say "I want to retire around 62 years old, give or take a few years" and based on that, you can come up with a reasonable risk tolerance, and therefore a reasonable AA, and reasonable savings rate to achieve your goals. I'...
by assumer
Tue Jul 08, 2014 1:42 pm
 
Forum: Investing - Help with Personal Investments
Topic: Unknown Time Horizon
Replies: 12
Views: 794

Re: Backdoor Roth IRA

Just a small contention about solo 401k's. I went with etrade since they allow for self-loans. This way I can put savings for something such as a house down payment into my solo 401k, save money on taxes, and take a loan (up to the lesser of 50% or $50k) when I want to purchase a house from myself (...
by assumer
Fri Jun 27, 2014 8:44 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA
Replies: 11
Views: 708

Re: Estimated Taxes in First Year of Sole Proprietorship

Also there's a safe harbor provision in the IRS code. What that means is that if your AGI in the previous year (before sole proprietorship) was <$150k, then you only have to pay 25% of last year's total tax burden each quarter without incurring any penalties from the IRS. If your AGI last year was >...
by assumer
Wed Jun 11, 2014 10:31 am
 
Forum: Personal Finance (Not Investing)
Topic: Estimated Taxes in First Year of Sole Proprietorship
Replies: 4
Views: 460

Re: Pay Debt or Invest @ 30 y/o?

Remember also that your tax-advantaged retirement space is use-or-lose -- right now you can pocket 25% tax savings for your 401k contributions This is a good point to consider. Psychologically, it is kind of lame to crawl your way back to zero and realize that you're still at zero. This makes no lo...
by assumer
Tue Jun 03, 2014 12:23 pm
 
Forum: Investing - Help with Personal Investments
Topic: Pay Debt or Invest @ 30 y/o?
Replies: 18
Views: 1631

Re: Pay Debt or Invest @ 30 y/o?

It's a personal decision really. I agree. There may be some small mathematical advantage to one or the other, depending on the interest rates and the variance of the investment in question. But at the end of the day, in 30 years from now, I doubt it will really matter. What really matters is how li...
by assumer
Tue Jun 03, 2014 11:55 am
 
Forum: Investing - Help with Personal Investments
Topic: Pay Debt or Invest @ 30 y/o?
Replies: 18
Views: 1631

Re: does frugality result in lower career ambition?

I'll likely get some slack for this on this particular board, but I'll say it nonetheless. I have been frugal for most of my life, but not out of desire, out of necessity. I actually have very expensive tastes. I want a huge house with nice furniture. I want to travel the world. I want to be part of...
by assumer
Tue Jun 03, 2014 11:47 am
 
Forum: Personal Finance (Not Investing)
Topic: does frugality result in lower career ambition?
Replies: 113
Views: 8391

Re: 2600 days of every dollar tracked

OP did a great job of putting this together for himself. Lot of patience. I think that's close to an 'ideal' set of metrics to collect and very helpful to answer the majority of questions one might have about own personal finance. Only thing I might be inclined to include on the first chart with ti...
by assumer
Thu May 22, 2014 1:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

I want to know about the $56.41 you couldn't categorize. Hmm you made me curious. I now went through every "Misc" transaction and categorized it: Turns out it's: ⋅ -$108.34 in ATM fees ⋅ +159.05 in coins which I converted to cash ⋅ -$102.00 in "unknown&q...
by assumer
Thu May 22, 2014 7:56 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

I would suggest getting a software package like Quicken or mint. The ROI on your time is pretty high. I do like mint and use it to help me, but now that things are set up for me, I prefer excel. The reason is that I can do my own analysis that mint doesn't allow (such as my last batch of charts wit...
by assumer
Wed May 21, 2014 10:19 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Are you aware of how much the school is paying towards your premiums ? I track every component of every pay stub, including the amount my employer pays towards benefits, and the total amount spent on group premiums for all insurance plans (medical, dental, life insurance, LTC). I find this helpful ...
by assumer
Tue May 20, 2014 7:59 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

The OP has been very forthcoming with spending habits. I find his willingness to share results of this personal experiment and the condescending nature of some of our members both to be quite enlightening. No where in the OP did I see a request to fix his budget or cast judgement on life choices. U...
by assumer
Mon May 19, 2014 1:56 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Hard to believe you spent $2662.00 for health in a span of 2600 days. That is approx. $374.00/year for insurance, dental, eyes and medicine. You are very fortunate. I had healthcare through my school during my B.S., M.S., and Ph.D. It only took out a small percentage of my stipend (which I did keep...
by assumer
Mon May 19, 2014 11:22 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Alright since people seem to be interested in this, here are some more charts derived from the underlying data (which has 8000 datapoints right now). I created these charts after reading a bunch of threads on this forum discussing what a good "savings rate" should be, especially for someon...
by assumer
Mon May 19, 2014 10:51 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

I always tried to get my friends to play credit card roulette because 1.) I usually drink more than them Ah mathematically, your expected value of the amount you'd spend on a uniform random distribution of cards selected when you drink more than them is net positive for you! Edit: But very high var...
by assumer
Mon May 19, 2014 10:25 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

I love the graph over time. As I read it, you drank a lot in 2008 before the crash. You are drinking a lot now. Should we be selling everything? Are you? Clearly correlation = causation :) Drinking a lot back then was the year I (and all my friends) turned 21, which was also my senior year of colle...
by assumer
Mon May 19, 2014 10:24 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

The detail in yours made me think you must be in financial/accounting , no need to respond, just laugh at me to yourself if I'm wrong. Close enough. Engineering with a love of the mathematics of business and finance (as noted by my enjoyment of the math learned on bogleheads regarding investing, an...
by assumer
Mon May 19, 2014 10:07 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Old Guy wrote:Too much alcohol. It will increase your health costs down the road.


Noted. I am easing back now on the volume and focusing on quality of things I enjoy now that I'm no longer in my early 20's.
by assumer
Mon May 19, 2014 10:05 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

How much work do you put in to maintain this? Or do your accounts automatically sync to your spreadsheets? Which software did you use for tracking ? I also track every dollar (and cent) using Quicken. It doesn't take all that much time, especially since I attempt to spend as little as possible in c...
by assumer
Mon May 19, 2014 10:04 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Thanks for sharing. I am very impressed by your ability to keep count and I love the graphs and pie charts. You're welcome. I am concerned that your expenses of alcohol of food and alcohol have been rising recently. Have you considered to keep check of your calories burnt and weight in these charts...
by assumer
Sun May 18, 2014 10:33 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Perhaps people are interested in the links in 'Banks that categorise your expenses', where this helpful analysis is done for you... http://www.bogleheads.org/forum/viewtopic.php?f=2&t=138429 Good. I'm actually a big fan of Mint.com and use it to make sure I don't miss anything from my credit ca...
by assumer
Sun May 18, 2014 9:58 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Good for you. So, now what--do you have savings plan and financial goals? Wish I'd had them at your age; now I'm playing catch up and keeping my fingers crossed. Forgot to respond to your question in my post. Right now I am focused completely on the income side of things. I am investing a lot of ti...
by assumer
Sun May 18, 2014 9:34 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Thanks for the compliments. Some responses: You need to plot your expenses over time so you can see how they changed for various points of your life. I have a feeling your college costs look different than your current ones So I do a moving average of specific categories. Here is a moving average wi...
by assumer
Sun May 18, 2014 9:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: 2600 days of every dollar tracked

Zabar wrote:Thanks for posting.

It's interesting that you consider gambling an income category rather than an expense category that's temporarily negative. :twisted:


The reason is that i was part of several card counting teams so it was closer to investing or work the way i did it.
by assumer
Sun May 18, 2014 6:03 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

2600 days of every dollar tracked

I began religiously keeping track of my expenses and income (including petty cash) for every single transaction 2600 days ago on 2007-04-05 using a custom excel spreadsheet. I was 20 years old. I am now 27 years old. This is where every dollar I spent and made came from, with significant life events...
by assumer
Sun May 18, 2014 2:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6016

Re: Why is Two Fund Less Popular Than Three Fund Portfolio?

And I'd add Lifestrategy or vanguard target retirement funds are great but how many 401 plans have them I am self-employed and so use target retirement in my etrade solo 401k (Target 2050) and a lifestrategy (80% bond, 20% stock) for my personal savings. Both are 1-fund portfolios. Yes there may be...
by assumer
Mon May 12, 2014 8:35 am
 
Forum: Investing - Theory, News & General
Topic: Why is Two Fund Less Popular Than Three Fund Portfolio?
Replies: 145
Views: 10481

Re: Help: Tax Advantage Accounts for Self Employed

One of the reasons I chose etrade for a solo-401k is that it allows 401k loans which you can use for house down payments, etc.
by assumer
Sun Apr 27, 2014 10:18 am
 
Forum: Investing - Help with Personal Investments
Topic: Help: Tax Advantage Accounts for Self Employed
Replies: 22
Views: 4541

Re: If a corp is correctly valued, are stock options worth a

Assuming the above is correct, (and it looks a little off to me) another way to look at is is the ending balance of the option is really: ( $Y * (S&P growth) - $X) + MAX(0, $X * (stock value - 3) ) That is to say you don't exercise the options if the price goes down. This is important because t...
by assumer
Fri Apr 25, 2014 1:46 pm
 
Forum: Investing - Theory, News & General
Topic: If a corp is correctly valued, are stock options worth any?
Replies: 17
Views: 1195
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