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Re: Strategies of Cash offer on house

I think your worries are unfounded. When I've sold properties i was always hoping for cash buyers. In fact I had an offer for X on a house i was selling (with conventional financing) and a cash offer at about 97%*X. I took the cash offer immediately. You can write an offer to split closing costs how...
by bigred77
Fri Oct 24, 2014 4:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Strategies of Cash offer on house
Replies: 5
Views: 469

Re: Dubai trip

I had a great trip there a few years ago. I would not rent a car. Taxi's are dirt cheap and the roads there are pretty agressive. You can go ANYWHERE is Dubai for less than 20 -25 dollars US in a taxi. I reccomend: The "Old City" Souks. I bought quite a bit of gold jewlery for family. Much...
by bigred77
Fri Oct 24, 2014 4:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Dubai trip
Replies: 4
Views: 324

Re: Investment Vehicle for MBA Savings?

If you get a state tax deduction for using a Minnesota 529 then use that.

Probably should simply save as much as you can. Investment returns will have an almost negligable impact on your outcome. I would suggest the LifeStrategy Income Fund.
by bigred77
Thu Oct 23, 2014 12:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: Investment Vehicle for MBA Savings?
Replies: 4
Views: 227

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 propertie...
by bigred77
Wed Oct 22, 2014 2:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Making an offer today
Replies: 44
Views: 4636

Re: Why I won't have bond funds

If we get anything close to the 70s again I will start loading up on individual 30 yr STRIPS in tax advantaged accounts.
by bigred77
Tue Oct 21, 2014 9:01 am
 
Forum: Investing - Theory, News & General
Topic: Why I won't have bond funds
Replies: 47
Views: 6157

Re: Why do people use age instead of life expectancy?

Age in Bonds is a heuristic. It is also a known, precise number. It tells us the basic trend of the idea that risk should go down as our investing time frame goes down. It should get the job done for the masses. Life expectency seems like it may be an attempt at a more precise answer. It is also usi...
by bigred77
Mon Oct 20, 2014 10:15 am
 
Forum: Investing - Theory, News & General
Topic: Why do people use age instead of life expectancy?
Replies: 43
Views: 2910

Re: How did you get from $1M to $10M

OP, My goal is also $10M (nominal) but it will probably take me another 30+ yrs. I can tell you a simple way :mrgreen: :mrgreen: :mrgreen: : Get to 250k - 300k of investable assets by age 30. Save at least 50k/year each and every year until you retire. Throw any lump sum "found money" in t...
by bigred77
Thu Oct 16, 2014 3:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: How did you get from $1M to $10M
Replies: 46
Views: 4028

Re: need moral support (kinda)

OP I think people are missing your point. You decided 200k of your portfolio is NEEDED in about 1 years time and you no longer wish to risk anymore of that 200k to loss of principal. You started liquidating the position to move it to cash. You now feel nervous about your plan because of recent marke...
by bigred77
Wed Oct 15, 2014 3:32 pm
 
Forum: Investing - Help with Personal Investments
Topic: need moral support (kinda)
Replies: 33
Views: 2894

Re: Recent statistics of college majors

Petroleum Engineers might move around and spend some time "in the field" early in their career but they can pretty much set up shop in Houston for the rest of their career if thats what they really wanted to do.
by bigred77
Wed Oct 15, 2014 2:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: Recent statistics of college majors
Replies: 35
Views: 2654

Re: is anything 'cheap' out there?

1.) Leverage is pretty cheap right now if your so inclined.
2.) The Euro seems cheap(er) from a US investors POV.

Maybe some levered forex trading?
by bigred77
Fri Oct 10, 2014 12:57 pm
 
Forum: Investing - Theory, News & General
Topic: is anything 'cheap' out there?
Replies: 54
Views: 5490

Re: New tires, where to buy

I've had very good luck with Costco
by bigred77
Fri Oct 10, 2014 9:30 am
 
Forum: Personal Consumer Issues
Topic: New tires, where to buy
Replies: 36
Views: 2577

Re: Jack Bogle answers your question.

"Why wouldn't you tilt to small Value?" Mr. Bogle answers: The Telltale Chart Best wishes. Taylor Thanks Taylor. I had never seen that before. I thought it was excellent. I think the best take away from that was Bogle suggesting that for people who believe in and want to tilt, do it more ...
by bigred77
Thu Oct 09, 2014 12:32 pm
 
Forum: Investing - Theory, News & General
Topic: Why Wouldn't You Tilt To Small Value?
Replies: 52
Views: 2914

Re: What was your initial AA and how has that worked out?

1. When you started. E.g. How many years ago? 6 years 2. How old you were? 23 3. Stock/bond ratio Started with random selection of active mutual funds in my 401k and random individual stocks. Now 75/25 AA. All index funds, although I'm a slice and dice guy who overweights Small, Value, and EM 4. An...
by bigred77
Tue Oct 07, 2014 10:02 am
 
Forum: Investing - Theory, News & General
Topic: What was your initial AA and how has that worked out?
Replies: 32
Views: 2496

Re: Should I buy a condo on the GROUND FLOOR?

We recently bought my mother a condo (she's almost 60, she had to downsize for financial and health reasons, she just couldn't keep up with a house anymore) and the number 1 priority was ground floor and no stairs. Where I live there are numerous condo/townhome developements. Its common for them to ...
by bigred77
Mon Oct 06, 2014 11:13 am
 
Forum: Personal Consumer Issues
Topic: Should I buy a condo on the GROUND FLOOR?
Replies: 50
Views: 4997

Re: Future equities 2% real rhetoric is hogwash

The fact is that from 1975 to 1982 the U.S. stock market had a real return of just under 0%. I don't know why entrepreneurs couldn't find "new and unique opportunities to make money" for 17 years--or, if they could, why that wasn't reflected in the stock market. But it wasn't. Plain histo...
by bigred77
Mon Sep 29, 2014 11:44 am
 
Forum: Investing - Theory, News & General
Topic: Future equities 2% real rhetoric is hogwash
Replies: 45
Views: 3815

Re: What is the best balance transfer card?

Citi has 15 months of 0% on balance transfers like the Slate card has but you will need to pay an initial 3% balance transfer fee... still probably worth it.
by bigred77
Thu Sep 18, 2014 2:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: What is the best balance transfer card?
Replies: 12
Views: 422

Re: The boglehead way to buy furniture

I spent ungodly amounts of money on furniture at Restoration Hardware. My wife and I both LOVE their stuff and reviews online seem pretty positive on the quality of most items. Their customer service is not great over the phone but in the stores its pretty good. If the stuff really lasts 10-15 years...
by bigred77
Wed Sep 17, 2014 11:42 am
 
Forum: Personal Consumer Issues
Topic: The boglehead way to buy furniture
Replies: 56
Views: 5159

Re: Safe Withdrawl Rate

You did not ask this but I personally would withdraw about 160k/yr unadjusted for inflation for the next 10 years. Let SS at 70 be your inflation fighter. Maybe set aside 1k/month in the first few years to tap later on in your late 60s if your personal inflation rate kicks up. Especially if you want...
by bigred77
Tue Sep 16, 2014 2:52 pm
 
Forum: Personal Finance (Not Investing)
Topic: Safe Withdrawl Rate
Replies: 25
Views: 2433

Re: "Why 97% of People Don't Use 529 College Savings Plans."

Full time Law students, MBAs, and MDs routinely rack up 6 figure debt loads. It is now the norm. if you have 30-50k from undergrad its not that hard to sneak up around 200k. It just is what it is. Its part of the reason i did a PT MBA program at a less prestigous school than I could have gone to. My...
by bigred77
Fri Sep 12, 2014 12:08 pm
 
Forum: Investing - Theory, News & General
Topic: "Why 97% of People Don't Use 529 College Savings Plans."
Replies: 110
Views: 10794

Re: Calculated Spending: Cars

I've always been told don't spend more than 1/3 of your gross yearly income. If you make $60k a year, you shouldn't spend more than $20k on a car. It's worked out pretty well for me. That's an odd rule. The rule doesn't specify frequency. Are you allowed to spend 1/3 of your income on a car every y...
by bigred77
Fri Sep 12, 2014 11:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Calculated Spending: Cars
Replies: 42
Views: 2925

Re: What risk-return really means

I wonder if readers have missed the point. Here is what Marks is trying to convey: "As you move to the right, increasing the risk: the expected return increases (as with the traditional graphic), the range of possible outcomes becomes wider, and the less-good outcomes become worse." The s...
by bigred77
Wed Sep 10, 2014 2:58 pm
 
Forum: Investing - Theory, News & General
Topic: What risk-return really means
Replies: 41
Views: 2352

Re: 401(k) poll - lawyer/oil and gas worker/airline employee

Oil and Gas Dollar for Dollar on the first 8% and then 6% on top of that regardless of contribution (they contribute 14% as long as I contribute 8%). A couple of low cost index funds (fidelity's S&P 500 index at only 3 basis points is nice) but we have the fidelity brokerage option where i can b...
by bigred77
Wed Aug 27, 2014 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: 401(k) poll - lawyer/oil and gas worker/airline employee?
Replies: 29
Views: 1821

Re: Can a Boglehead put down 10% on a house?

Look into an 80-10-10 piggyback loan so you don't have to pay PMI. That is what I did and you should be fine. I also did an 80/10/10 about a year ago. No PMI. Second loan closing costs were relatively inexpensive. Higher interest rate on the 2nd though (4.25% 1st mortgage and 5.99% 2nd mortgage). I...
by bigred77
Mon Aug 25, 2014 5:41 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can a Boglehead put down 10% on a house?
Replies: 30
Views: 2530

Re: Cost, duration of grad school?

So, it seems that it's correct to assume that MOST multi-year hard and soft (i.e. social) sciences in good programs at top schools are likely to be tuition free + stipend, whereas the more professional oriented degrees (MD, law, MBA) and some of the shorter 1 year type masters will require tuition ...
by bigred77
Thu Aug 21, 2014 9:37 am
 
Forum: Personal Consumer Issues
Topic: Cost, duration of grad school?
Replies: 29
Views: 1537

Re: How Much House Should I Buy?

A couple more comments after thinking about this more: 1.) Mortgage underwriters may not consider your bonus when calculating income (regardless of what the brokers tell you). When my wife and I got a mortgage last year they would only consider our base salaries when determining Debt Service to inco...
by bigred77
Tue Jul 15, 2014 3:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: How Much House Should I Buy?
Replies: 81
Views: 4875

Re: Millennials (with jobs) are super-saving their retiremen

I read the article to say 74% of millenials are employed and 71% of those who are offered a 401k at work enroll. Of those that enroll, they have an avg account balance of $30k+ and are contributing 10% including employer match. It doesn't sound like its all roses but the younger generation at least ...
by bigred77
Tue Jul 15, 2014 1:13 pm
 
Forum: Investing - Theory, News & General
Topic: Millennials (with jobs) are super-saving their retirement
Replies: 65
Views: 9844

Re: How Much House Should I Buy?

LFKB: My thoughts for you: 1.) It sounds like at least you work in Private Equity. Only you know how stable that situation really is but please try to be brutally honest with yourself about it. Think about how long you can hold everything together if your income is lost at the worst possible time. N...
by bigred77
Tue Jul 15, 2014 9:37 am
 
Forum: Personal Finance (Not Investing)
Topic: How Much House Should I Buy?
Replies: 81
Views: 4875

Re: NPR: Net Price Of Private Non-Profit College

livesoft wrote:^OK, but what about athletes are who not scholars? Is that in the 75% or in the 25%? :twisted:


There's a "scholar" in every "scholarship athlete"...
by bigred77
Mon Jul 14, 2014 9:14 am
 
Forum: Personal Finance (Not Investing)
Topic: NPR: Net Price Of Private Non-Profit College
Replies: 36
Views: 3362

Re: Help With Costless Collar Option Implementation

a.) I would call into question the advantages of doing this in theory. I haven't looked (and I don't believe you've defined your time frame, I'm assuming 1 year for simplicity) but I imagine that the stock market has many more +15%+ years over the past 100 years than -25%+ years. if you miss out on ...
by bigred77
Tue Jul 01, 2014 2:08 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help With Costless Collar Option Implementation
Replies: 17
Views: 1021

Re: Is Medical School Worth it Financially?

I would be shocked if Stanford engineers are making under 100k after a minimal amount of work experience
by bigred77
Mon Jun 23, 2014 2:39 pm
 
Forum: Personal Finance (Not Investing)
Topic: Is Medical School Worth it Financially?
Replies: 66
Views: 5353

Re: Budget or create saving buckets?

I have many such cash management accounts with Fidelity for this purpose. Alot of them I drop in like 50 bucks a paycheck.

I know its dumb and just mental accounting but it works for me and I feel soothed when i log in to track my progress towrds my next vacation.
by bigred77
Thu Jun 19, 2014 5:27 pm
 
Forum: Personal Finance (Not Investing)
Topic: Budget or create saving buckets?
Replies: 109
Views: 7882

Re: Sports scholarship

Started as a walk on and finished as a scholorship athlete in Football in a major D1 conference. In my experience, no one gets to that level from their parents having pushed them in that direction. Everyone either loved the sport and pushes themselves to that level, or they were born with mind boggl...
by bigred77
Tue Jun 10, 2014 2:00 pm
 
Forum: Personal Consumer Issues
Topic: Re: Sports scholarship
Replies: 9
Views: 779

Re: Buying a Carpet Overseas

I was Istanbul last year and was considering buying a nice rug that would last a long time and be a topic of conversation when people came to the house. I thought I was a shrewd negotiator and could hold my own. I went to a couple different stores and spoke with some salesmen. 1.) I could not really...
by bigred77
Wed Jun 04, 2014 11:07 am
 
Forum: Personal Consumer Issues
Topic: Buying a Carpet Overseas
Replies: 14
Views: 991

Re: Buying a new car soon, old man's advice needed

2009/10 BMW 328i w/ under 60k miles

Try to stay under 17.5k out the door price.

Enjoy your 20s
by bigred77
Wed May 28, 2014 11:41 am
 
Forum: Personal Consumer Issues
Topic: Buying a new car soon, old man's advice needed
Replies: 54
Views: 3043

Re: 2600 days of every dollar tracked

When a round of drinks for 5 friends could be $50... Or more in the case of my 30 year-old stepson. He told me about a game he used to play with his Happy Hour friends. Everyone drinking and eating at the table puts their credit card in the middle of table. When the bill comes, they ask the waitsta...
by bigred77
Mon May 19, 2014 10:22 am
 
Forum: Investing - Help with Personal Investments
Topic: 2600 days of every dollar tracked
Replies: 68
Views: 6188

Re: Obligations to help parents financially?

I just wanted to say I feel your pain. Having to deal with your Parent's financial messes can really suck. I'm in my late 20s and my mom is in a pretty desperate financial situation. The week after I graduated she handed me a "bill" for about 25k that she said she spent on my college tuiti...
by bigred77
Thu May 08, 2014 11:44 am
 
Forum: Personal Finance (Not Investing)
Topic: Obligations to help parents financially?
Replies: 77
Views: 7179

Re: Please explain a 3% SWR to me

The Wizard wrote:I have a feeling that most folks using a 3% SWR and a 50/50 portfolio will end up with a LARGER portfolio after 30 years than they started with.
FireCalc can give some insight on this...


I 100% agree
by bigred77
Wed Apr 23, 2014 12:10 pm
 
Forum: Investing - Theory, News & General
Topic: Please explain a 3% SWR to me
Replies: 92
Views: 22757

Re: Please explain a 3% SWR to me

The most enlightening book about retirement funding, sequence of return risk and other factors you will need to consider are in Jim Otar's book; "Unveiling the retirement Myth". It doesn't seem to be available on Amazon right now but you should make every effort to obtain a copy you can r...
by bigred77
Wed Apr 23, 2014 12:09 pm
 
Forum: Investing - Theory, News & General
Topic: Please explain a 3% SWR to me
Replies: 92
Views: 22757

Re: The Unemployment Game Plan

All of the above except I wonder about killing the car loan. You don’t say what your monthly living expenses or car loan payments are, but I wonder if paying the entire loan off upfront might deplete your funds a month or so earlier than continuing the monthly payments. The car loan is on its last ...
by bigred77
Thu Apr 17, 2014 1:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Unemployment Game Plan
Replies: 12
Views: 1133

Re: The Unemployment Game Plan

I personally would kill the car loan from my current cashflow, stop all investing outside of my regular 401k contributions, and start funneling all the excess cash I could into my emergency fund. I would cutting my expenses now where I can. I would IMMEDIATELY begin my job search. Contact everyone I...
by bigred77
Thu Apr 17, 2014 12:09 pm
 
Forum: Personal Finance (Not Investing)
Topic: The Unemployment Game Plan
Replies: 12
Views: 1133

Re: Help with Home Sale

A question to the board because I don't know:

If the OP want to sell securities, then can get the cash back and rebuys the identical securities within 30 days, is that not considered a "wash sale" like it would be if they we're trying to tax loss harvest?
by bigred77
Wed Apr 16, 2014 5:11 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Home Sale
Replies: 15
Views: 972

Re: Help with Home Sale

I would simply request to push back the closing date of your purchase to that of your new closing date on your current home.
by bigred77
Wed Apr 16, 2014 4:57 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help with Home Sale
Replies: 15
Views: 972

Re: Looking at top 1% for actionable insight

FYI___ From DaleMaley's link (In the 2013 update) : The top 1% had an average investment net worth somewhere around $3 million at the end of 2013 based on IRS numbers So I think you need to adjust your vision of the start of the 1%... The average "X" of the top one percent is always going...
by bigred77
Wed Apr 16, 2014 11:33 am
 
Forum: Personal Finance (Not Investing)
Topic: Looking at top 1% for actionable insight
Replies: 73
Views: 9209

Re: Anyone use Fidelity as their bank account?

I use Fidelity for all my financial accounts. I have my checking account and debit card through them and have nothing but great things to say. The only downside is I can't walk in and make a deposit with physical cash nor can I go to them for a cashiers check or money order. If your maintaining a re...
by bigred77
Tue Apr 15, 2014 11:12 am
 
Forum: Personal Finance (Not Investing)
Topic: Anyone use Fidelity as their bank account?
Replies: 27
Views: 2168

Re: Is "sheltering" my GF financially hurting our future?

I would urge you to have her open a credit card in her name only immediately. The biggest obstacle for young people to overcome with building credit is length of credit history and avg age of open accounts. It may not seem like a big deal but it takes a couple of years to get that credit score up to...
by bigred77
Mon Apr 14, 2014 10:52 am
 
Forum: Personal Finance (Not Investing)
Topic: Is "sheltering" my GF financially hurting our future?
Replies: 23
Views: 4692

Re: Pay Off Mortgage

What is your tax bracket? Do you have any cash flow issues? What is the current LTV on the mortgage? Do you have any plans to move in the next few years? bigred, I'm curious why, whether he might have plans to move, would be a factor. If he pays it off, and subsequently moves, he takes the proceeds...
by bigred77
Thu Apr 03, 2014 9:06 am
 
Forum: Personal Finance (Not Investing)
Topic: Pay Off Mortgage
Replies: 56
Views: 4074

Re: Pay Off Mortgage

I personally probably wouldn't if I had no cash flow issues and my after tax interest rate was about 2.9% (only considering federal). I would just keep your allocation as it is and keep paying the mortgage. I wouldn't be willing give up the liquidity that you would be giving up by selling off 80%-85...
by bigred77
Wed Apr 02, 2014 5:50 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay Off Mortgage
Replies: 56
Views: 4074

Re: Pay Off Mortgage

What is your tax bracket?

Do you have any cash flow issues?

What is the current LTV on the mortgage?

Do you have any plans to move in the next few years?
by bigred77
Wed Apr 02, 2014 5:20 pm
 
Forum: Personal Finance (Not Investing)
Topic: Pay Off Mortgage
Replies: 56
Views: 4074

Re: New Housing Bubble and upcoming cycle peak

I just wanted to add a general anecdote to the discussion: I live in huge city in a very nice, very upscale neighborhood inside the city limits. This is not a suburb. The neighborhood used to be a slum in 70s/80s. Easily one of the worse neighborhoods in the whole city. It was right next door to bas...
by bigred77
Wed Mar 26, 2014 2:42 pm
 
Forum: Investing - Theory, News & General
Topic: New Housing Bubble and upcoming cycle peak
Replies: 81
Views: 9251

Re: Buying first home in SF - gut check

You can afford it. Go for it and continue to work your (behind) off and save now before the kiddies arrive - that could change everything! Congratulations on getting off to such a great start. If things do take a turn for the worse, you do have a plenty fat cushion, but bullet-proof armor (paid off...
by bigred77
Wed Mar 26, 2014 8:48 am
 
Forum: Personal Finance (Not Investing)
Topic: Buying first home in SF - gut check
Replies: 93
Views: 10251
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