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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: 4411

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: 9180

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: 4411

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: 3222

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: 941

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: 5042

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: 7476

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: 758

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: 10
Views: 606

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: 2904

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: 6004

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: 7017

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: 22611

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: 22611

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: 1108

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: 1108

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: 960

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: 960

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: 9088

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: 2018

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: 4588

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: 4037

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: 4037

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: 4037

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: 8661

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: 9868

Re: Attempt at explaining the backdoor Roth to my new accoun

I have to say, if the accountant I was considering hiring to do my personal taxes didn't know about backdoor Roth IRA's, I'd keep my search for a new accountant going...
by bigred77
Mon Mar 24, 2014 4:07 pm
 
Forum: Personal Finance (Not Investing)
Topic: Attempt at explaining the backdoor Roth to my new accountant
Replies: 26
Views: 2359

Re: What is your 2013 Federal Effective Tax Rate?

And here I thought I was some sort of tax genius for having a 7% effective tax rate with no kids and almost all of it being W2 wages.

Guess I'm not so special.
by bigred77
Fri Mar 14, 2014 9:41 am
 
Forum: Personal Finance (Not Investing)
Topic: What is your 2013 Federal Effective Tax Rate?
Replies: 73
Views: 5007

Re: What's a reasonable composite expense ratio?

I'm a slicer and dicer but I was still able to get my weighted avg ER doen to 0.12% All my accounts are with Fidelity and I use Spartan Index Funds and Vanguard ETFs. This does not count the $7.95 trading fee I pay per Vanguard ETF transaction but that usually only occurs 5-6 times per year when I r...
by bigred77
Wed Mar 12, 2014 3:37 pm
 
Forum: Investing - Help with Personal Investments
Topic: What's a reasonable composite expense ratio?
Replies: 62
Views: 3311

Re: 24 year old in over his head: house/MBA/RSUs/tax questio

I did a Evening MBA program a couple years ago while working, owning a condo, and receiving RSUs. I would take a few deep breaths right now... try to relax... -Should I take out a student loan to cover the tuition? I can get a variable rate loan and pay it off relatively quickly, but I'm afraid thi...
by bigred77
Tue Mar 11, 2014 11:51 am
 
Forum: Personal Finance (Not Investing)
Topic: 24 year old in over his head: house/MBA/RSUs/tax questions
Replies: 17
Views: 1811

Re: % of annual income saved compared to final portfolio goa

Not sure how meaningful this number is as a metric when it doesn't take into consideration the number of years to go, or the current size of your portfolio. The more important question is: given your age, net worth, and savings rate - what is the probability that you'll reach your goal? That probab...
by bigred77
Mon Mar 10, 2014 3:30 pm
 
Forum: Investing - Help with Personal Investments
Topic: % of annual income saved compared to final portfolio goal
Replies: 33
Views: 2683

Re: % of annual income saved compared to final portfolio goa

Yuck... I did not like this exercise. I'm at 0.4%.

I'm in my 20's still though and I have probably a borderline unrealistic goal unless my income jumps substantially over the years (and I hope it will).

Just save as much as you can I guess.
by bigred77
Mon Mar 10, 2014 10:19 am
 
Forum: Investing - Help with Personal Investments
Topic: % of annual income saved compared to final portfolio goal
Replies: 33
Views: 2683

Re: Poll: Are you going to retire? And if so, when?

I'm too lazy to not retire as soon as feasibly possible. I'm aiming and planning for mid 50s.

I'm a long way off but if I don't hit my "number" by 60, I think I'll call it quits anyway and adjust my retirement expectations.
by bigred77
Sun Mar 09, 2014 2:08 pm
 
Forum: Investing - Theory, News & General
Topic: Poll: Are you going to retire? And if so, when?
Replies: 49
Views: 4950

Re: “Buying on the peaks” can work too!

I feel like this is an OUTSTANDING article and should be linked too whenever someone posts about having paralysis because "the market is at all-time highs"
by bigred77
Wed Mar 05, 2014 7:09 pm
 
Forum: Investing - Theory, News & General
Topic: “Buying on the peaks” can work too!
Replies: 10
Views: 2013

Re: You know you're a Boglehead when ...

You think a 27 year old with a 300k portfolio is "about average for someone with a college degree"... :D
by bigred77
Tue Mar 04, 2014 1:58 pm
 
Forum: Local Chapters and Bogleheads Community
Topic: You know you're a Boglehead when ...
Replies: 105
Views: 15811

Re: Wife Back to Work

My first thought would be she could do some substitute teaching for a few years, go through the certification process (state specific i believe) and then try to land a full time teaching gig after a couple of years. Pretty portable career I think. Pay varies on City, State, regional cost-of-living, ...
by bigred77
Mon Mar 03, 2014 4:08 pm
 
Forum: Personal Finance (Not Investing)
Topic: Wife Back to Work
Replies: 8
Views: 1197

Re: What kind of mortgage should I get?

You will be able to deduct mortgage interest in texas. My understanding is that there is no income cap on the ability to do that. if you were thinking the amount of interest will be below the standard deduction, you are not taking into account that property taxes in TX are sky high. In Houston for e...
by bigred77
Sun Mar 02, 2014 8:19 pm
 
Forum: Personal Finance (Not Investing)
Topic: What kind of mortgage should I get?
Replies: 9
Views: 908

Re: what's your number?? (for married couples)

Wife and I are both 29. Targeting $10 million for retirement or if we hit 60 we'll pull the plug and adjust to whatever the number is. We spend alot (about 90k a year now, we have a big mortgage payment and we travel a ton). We save about 25% of income strictly for retirement and have been doing so ...
by bigred77
Thu Feb 27, 2014 3:50 pm
 
Forum: Investing - Help with Personal Investments
Topic: what's your number?? (for married couples)
Replies: 70
Views: 6428

Re: Leaving a small amount of student debt for child to pay

I went to a fairly affluent private school where it seemed like nobody had "manageable debt" except for me. Either Mom and Dad paid for the whole boat or kids were borrowing like mad to get all the tuition together every August. I had a alot of small academic scholorships that added up and...
by bigred77
Mon Feb 24, 2014 4:47 pm
 
Forum: Personal Finance (Not Investing)
Topic: Leaving a small amount of student debt for child to pay off?
Replies: 45
Views: 2827

Re: What's the Appropriate Net Worth by % for a 27 year old?

I really like this site by Scott Burns to give some perspective: http://assetbuilder.com/scott_burns/the_new_wealth_scoreboard The graphic at the bottom this page gives a breakdown of different levels of networth by percentiles for different age ranges (this includes primary residence home equity). ...
by bigred77
Sun Feb 23, 2014 3:59 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's the Appropriate Net Worth by % for a 27 year old?
Replies: 78
Views: 9246

Re: USAA Auto Insurance?

I have USAA for both Auto and Home coverage.

They had far and away the best rate (for my situation at least) for both products. I price shopped any and every where.

I had a major car accident (totaled vehicle) and the claims process was very smooth. I have nothing but great things to say.
by bigred77
Tue Feb 11, 2014 3:00 pm
 
Forum: Personal Finance (Not Investing)
Topic: USAA Auto Insurance?
Replies: 70
Views: 7150

Re: Valentine's Day

With all the threads started on the sensible buying of umbrella liability insurance I'm surprised more people aren't advocating "just the $150 bucks on a card, choclates, and a decent meal out. It's cheap relationship insurance on half of your assets."
by bigred77
Mon Feb 10, 2014 10:34 am
 
Forum: Personal Consumer Issues
Topic: Valentine's Day
Replies: 43
Views: 2757

Re: What's your dream car?

Black BMW M6 convertible with cream interior.

Driving along the beach in June from San Fran to San Diego, then back to LA and time myself on how quick I can make to Vegas.


Then I wake up...
by bigred77
Tue Jan 21, 2014 11:52 am
 
Forum: Personal Consumer Issues
Topic: What's your dream car?
Replies: 185
Views: 10895

Re: High Earners - What's Your Profession?

I work for a large Oil and Gas company in relatively unique corporate role. I broke the 100k mark in total compensation about 4 years in. I have MBA that my employer heavily subsidized from a decent State school (they are not churning out top consultants and I bankers). I had about 20k in student lo...
by bigred77
Mon Jan 13, 2014 6:29 pm
 
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 357
Views: 28315

Re: What percentage of your income are you saving?

28 years old.

My wife and I save a shade over 25% of gross income into tax advantaged retirement accounts.

The rest of my "savings" go to pay down debt.
by bigred77
Thu Dec 12, 2013 6:02 pm
 
Forum: Investing - Help with Personal Investments
Topic: What percentage of your income are you saving?
Replies: 208
Views: 12407

Re: Success Stories of Bogleheads

I am a millenial. i was lucky enough to find bogleheads within a few months of graduating and starting my first real job. I originally found the site while researching how to invest in my 401k. What funds to pick and why? i originally just picked about 6 funds with the best 10 year returns and assig...
by bigred77
Mon Dec 02, 2013 1:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Success Stories of Bogleheads
Replies: 62
Views: 6420

Re: Bill Bernstein: "Take risk off the table"

I agree with some of the sentiment that these "marginal" changes of +/- 5% between bonds and equities are unlikely to have a material impact on ones "final destination" so to speak. If one feels better doing this then more power to them. I do feel that this could bring some unnec...
by bigred77
Tue Nov 26, 2013 5:32 pm
 
Forum: Investing - Theory, News & General
Topic: Bill Bernstein: "Take risk off the table"
Replies: 207
Views: 17748

Re: Best Personal Service for Near-Retiree w/ $1m+

Does Fidelity have an extensive network of offices where investors can visit? Has anyone ever used their banking services? What are your thoughts on combining everything with them in terms of investing and banking? Perhaps that would simplify things for the original poster considering he may want a...
by bigred77
Tue Nov 26, 2013 12:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Best Personal Service for Near-Retiree w/ $1m+
Replies: 34
Views: 2200

Re: What now? Everything maxed

Go on vacation each and every year... then start upping your taxable investing
by bigred77
Mon Nov 25, 2013 12:15 pm
 
Forum: Investing - Help with Personal Investments
Topic: What now? Everything maxed
Replies: 14
Views: 2015

Re: Average Yearly Raises?

I've been working for 5 years. All at the same employer.

Base Pay CAGR increase = 7.2%

Totel Compensation from employer CAGR = 9.6%
by bigred77
Mon Nov 25, 2013 11:57 am
 
Forum: Personal Finance (Not Investing)
Topic: Average Yearly Raises?
Replies: 97
Views: 5455
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