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Re: Help getting rid of debt

DSInvestor wrote:Can you qualify for any subsidy for the medical insurance?


I would start here. Go to the ACA website and see what you and your wife qualify for. I think 9k in Medical Ins Premiums on your household income is more than you will end up paying if you enroll through the website.
by bigred77
Mon Apr 27, 2015 8:02 am
 
Forum: Personal Finance (Not Investing)
Topic: Help getting rid of debt
Replies: 56
Views: 2826

Re: Who still have Cable TV?

The cable companies hire some pretty smart people. I don't like how much I pay for cable (about 200 bucks for the premium package with cable, internet, landline). I've looked into downgrading my package. I need the premium sports package for NFL RedZone, NFL network, and BIG10/SEC networks. I need H...
by bigred77
Fri Apr 24, 2015 11:38 am
 
Forum: Personal Consumer Issues
Topic: Who still have Cable TV?
Replies: 63
Views: 2722

Re: What is a Boglehead?

Used Camry Enthusiasts
by bigred77
Thu Apr 23, 2015 3:10 pm
 
Forum: Investing - Theory, News & General
Topic: What is a Boglehead?
Replies: 55
Views: 2571

Re: $6 billion of 401(k) loan defaults each year

That's negative news that such a high number of people are defaulting like that. 401k loans aren't inherently bad though. Bigred77 the borrower can access a loan up to 50k, paid back anywhere from 1 - 4 years, with a 4.25 interest rate, minimal fees, no prepayment penalty, and can usually get the mo...
by bigred77
Wed Apr 22, 2015 3:04 pm
 
Forum: Personal Finance (Not Investing)
Topic: $6 billion of 401(k) loan defaults each year
Replies: 9
Views: 1658

Re: How much do you pay in Property Taxes?

Property : 3/3.5, 3250 sq ft. Tiny Lot in the city.
Value: a little over 600k.
Prop Tax: Around 11k

No state Income Tax.
by bigred77
Tue Apr 21, 2015 2:44 pm
 
Forum: Personal Finance (Not Investing)
Topic: How much do you pay in Property Taxes?
Replies: 184
Views: 9332

Re: Semi forced retirement - SPIA ?

I for one really like SPIAs as a tool to utilize in retirement but you are just too young for that right now in my opinion. You basically have a 3% or less withdrawal rate (depending on taxes, which should be minimal) on a 2 million dollar portfolio with SS waiting for you down the line. It sounds l...
by bigred77
Tue Apr 21, 2015 9:51 am
 
Forum: Investing - Help with Personal Investments
Topic: Semi forced retirement - SPIA ?
Replies: 26
Views: 1339

Re: 30 y/o looking for proper asset allocation

Thanks for the prompt reply. Oh I was referring to all 3 accounts. I'm thinking of a different allocation to each? Do you have 1 set portfolio and just use the tax shelters based on the tax liability of each asset class? Never thought about that one...Thanks for the link, that's very helpful. Yeah ...
by bigred77
Mon Apr 20, 2015 5:25 pm
 
Forum: Investing - Help with Personal Investments
Topic: 30 y/o looking for proper asset allocation
Replies: 15
Views: 1439

Re: What's your average monthly expense???

Rent/mortgage, insurance, rental insurance, etc: $3750 (PITI + HOA fees) Phone + Internet: 360 (cable, internet, home phone, plus cell phones for my wife and I plus my mom) Electricity + gas, water: about 200 on average Auto Payment: 0 Auto Insurance: about 100 Gas: 350 Grocery: 1000 Foods (eating ...
by bigred77
Mon Apr 20, 2015 12:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: What's your average monthly expense???
Replies: 85
Views: 7666

Re: Newly Married - Both 28 - NYC residents - How are we doi

I think you are doing very well for your age. I do not think you are over saving for retirement. I would consider skipping buying the apartment, continuing to rent and save money, and maybe buy the house you eventually want sooner than 10 years. If you do that I would take cash from your pile earnin...
by bigred77
Mon Apr 20, 2015 11:41 am
 
Forum: Investing - Help with Personal Investments
Topic: Newly Married - Both 28 - NYC residents - How are we doing?
Replies: 26
Views: 2643

Re: What Guaranteed Return Would You Require to Move All Ass

I've thought about this in terms of what would interest rates have to be for me to move a majority of my current assets into long term STRIPS and hold till maturity. I would never be able to do what was being described in the OP for a nominal rate. If 30 yr. yields reached 10+%, I would move all of ...
by bigred77
Mon Apr 20, 2015 8:21 am
 
Forum: Investing - Theory, News & General
Topic: What Guaranteed Return Would You Require to Move All Assets
Replies: 54
Views: 3153

Re: Tips for Post-College Lifestyle

OP is going to be the first consulting firm partner who still lives at home with mom and dad!! I kid, I kid. I think the OP should save a large percentage of his income, max out all tax deferred space, and then enjoy his 20s a little bit. It's pretty likely your goals will change. It would be a VERY...
by bigred77
Fri Apr 17, 2015 10:29 am
 
Forum: Personal Finance (Not Investing)
Topic: [Financial] Tips for Post-College Lifestyle
Replies: 53
Views: 2795

Re: Bernstein: "If you've won the game, stop playing."

I plan to utilize SPIA's when in retirement with a portion of my assets. I think that's prudent when one does not have a traditional pension. I would like my AA in retirement to stay somewhere around 60/40 for my non-annuitized assets. In especially good years, I plan to consider skimming some off t...
by bigred77
Fri Apr 17, 2015 10:09 am
 
Forum: Investing - Theory, News & General
Topic: Bernstein: "If you've won the game, stop playing."
Replies: 146
Views: 14785

Re: Tips for Post-College Lifestyle

livesoft wrote:Sign up for Tinder if you haven't already.


+

preciseman wrote:
JDDS wrote:Where are you going to be living? e..g with parents, with roommates, etc.


Parents! Moving in to the old place :).


=

:annoyed :annoyed :annoyed
by bigred77
Fri Apr 17, 2015 8:27 am
 
Forum: Personal Finance (Not Investing)
Topic: [Financial] Tips for Post-College Lifestyle
Replies: 53
Views: 2795

Re: Massive student debt @ 6.8%

Hello, I recently got married and together my wife and I have ~$180,000 in debt at mostly 6.8% interest rate. My loans are currently deferred and I'm working for AmeriCorps who should pay off the interest from this year. We pay $660/month toward my wife's loans. I have a small income and likely wil...
by bigred77
Tue Apr 14, 2015 11:15 am
 
Forum: Investing - Help with Personal Investments
Topic: Massive student debt @ 6.8%
Replies: 62
Views: 6251

Re: Does your family know about your net worth (ball park)?

From looking at the recent annual income poll result, I think most BHs are already millionaires or will become one. Q1. Does your family (parents, siblings) know about your net worth (ball park figure)? No. Everyone knows we're doing well for ourselves. Everyone thinks of me as the "financial ...
by bigred77
Tue Apr 14, 2015 9:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Does your family know about your net worth (ball park)?
Replies: 98
Views: 11259

Re: I... must... stop... Spending!

sunny_socal, I do the same thing. I have found every way possible under the sun to justify too. I also need to stop doing this. If your borrowing cost is zero and your bonus compensation is secure, I don't see it as the WORST thing in the world. If you're borrowing costs are > 0 and a bonus failing ...
by bigred77
Tue Apr 14, 2015 9:19 am
 
Forum: Personal Finance (Not Investing)
Topic: I... must... stop... Spending!
Replies: 25
Views: 3778

Re: Input wanted from BMW owners

My wife and I drive an 07 x3 and an 08 328i. I bought them just off of warranty for tremendous prices. I knew they would be expensive to maintain. I figured that into my decision. it still really hurts to write the check when something needs to be done. We've paid about 1,500 - 2,000 each year for c...
by bigred77
Mon Apr 13, 2015 1:54 pm
 
Forum: Personal Consumer Issues
Topic: Input wanted from BMW owners
Replies: 44
Views: 4390

Re: Downpayment on a house

It's hard to give specific advice without knowing the specific in's and out's of your tax situation but I think it would be prudent to strongly consider selling off company stock and options. I would start now divesting your options up to filling your current marginal tax bracket. You're going to ha...
by bigred77
Mon Apr 13, 2015 1:25 pm
 
Forum: Personal Finance (Not Investing)
Topic: Downpayment on a house
Replies: 5
Views: 581

Re: Is there a "filling the trough" strategy?

There's nothing wrong with having a higher withdrawal rate earlier in retirement to finance putting off SS payments (or spending more earlier while your healthy and active) but I would strongly consider a more conservative AA than I normally would if I was going to do this. I think the higher WR wil...
by bigred77
Mon Apr 13, 2015 1:09 pm
 
Forum: Investing - Help with Personal Investments
Topic: Is there a "filling the trough" strategy?
Replies: 12
Views: 1887

Re: downpayment

You seem to have an awful lot of exposure to your employer via company stock and options. I would try to start diversifying away from that if possible (depending on your tax situation). What is the basis on your company stock? What marginal tax bracket are you in? I assume your stock options will be...
by bigred77
Mon Apr 13, 2015 12:58 pm
 
Forum: Personal Finance (Not Investing)
Topic: Downpayment on a house
Replies: 5
Views: 581

Re: Vanguard: One Third of 401k Participants Not Maxing Mat

That's one thing that would make it tough to leave the industry -- not that I'm looking to do so. Our match was 20% before the acquisition. The new plan is a bit more convoluted (three sub plans with some differences in how the company matches/contributes) so I'm having difficulty understanding the...
by bigred77
Fri Apr 10, 2015 11:00 am
 
Forum: Investing - Theory, News & General
Topic: Vanguard: One Third of 401k Participants Not Maxing Match
Replies: 13
Views: 1577

Re: New guy with another student loan/investing situation

Geez, this is tough... I feel like you are right on the border of trying to utilize PAYE to your benefit or just throw money at this thing. I think if your aspirations are to go into something high paying or can see yourself making six figures in the next 5 years or so, I would throw 120k at this an...
by bigred77
Fri Apr 10, 2015 10:34 am
 
Forum: Investing - Help with Personal Investments
Topic: New guy with another student loan/investing situation
Replies: 11
Views: 510

Re: New guy with another student loan/investing situation

What is your starting income going to be? What field are you in or more specifically what can you expect your income to rise too and how fast? Are you really planning on carrying around 200k of non-dischargeable debt until your near 50 while hoping the law governing loan forgiveness doesn't change? ...
by bigred77
Fri Apr 10, 2015 9:33 am
 
Forum: Investing - Help with Personal Investments
Topic: New guy with another student loan/investing situation
Replies: 11
Views: 510

Re: Backdoor Roth IRA Question

See if your 401k will allow you to roll over the traditional IRA balance into it. Most plans will allow this. Then you can do backdoor Roth conversion's with no tax penalty
by bigred77
Thu Apr 09, 2015 1:22 pm
 
Forum: Investing - Help with Personal Investments
Topic: Backdoor Roth IRA Question
Replies: 6
Views: 468

Re: The $1 Million Goal: Source of Motivation or Discouragem

Person A graduates from college with a degree in Business Administration at age 23 with zero debt through a combination of scholarships and her parent's wisely saving money for her in a 529. Her uncle is a partial owner at a local business and gets A an entry-level position at that company paying $...
by bigred77
Thu Apr 09, 2015 1:16 pm
 
Forum: Investing - Theory, News & General
Topic: The $1 Million Goal: Source of Motivation or Discouragement?
Replies: 172
Views: 15878

Re: Poll: What is the credit limit of your credit card?

I had to fight tooth and nail to get a credit limit over 2500 dollars. I started working in 2008 and credit was TIGHT. I had to pay for a hotel stay on a business trip over 3 different credit cards! Now I finally have one card with a 20k limit and a couple others around 10k-15k. For some reason they...
by bigred77
Thu Apr 09, 2015 8:48 am
 
Forum: Personal Consumer Issues
Topic: Poll: What is the credit limit of your credit card?
Replies: 56
Views: 3451

Re: Am I justified in being angry with executor?

I deal with estates containing real property on a daily basis and I can tell you it can take FOREVER... If there are multiple states involved, that can complicate things. If there is any financing on the properties, that can take forever. If there was once financing on the property and the liens wer...
by bigred77
Wed Apr 08, 2015 1:53 pm
 
Forum: Personal Finance (Not Investing)
Topic: Am I justified in being angry with executor?
Replies: 22
Views: 3350

Re: How do I grow my Roth IRA faster than my traditional IRA

I just keep all of my fixed income in my 401k and rebalance within it. I keep my Roth's 100% equities. I also knowingly don't tax adjust my asset allocation to account for taxable / tax free / tax deferred space. I figure it's easy enough for me to just ignore it in my accumulation stage and it will...
by bigred77
Wed Apr 08, 2015 9:51 am
 
Forum: Investing - Theory, News & General
Topic: How do I grow my Roth IRA faster than my traditional IRA?
Replies: 24
Views: 2406

Re: Cost of College & Weighing the Merits of Top Schools

In Business, STEM, Academia, etc I think there is a decided advantage in going to an elite school. Many graduate and professional programs DO consider the pedigree of ones undergraduate school in the admissions process. There's a gray area where decisions have to be made on value. If you live in Atl...
by bigred77
Tue Apr 07, 2015 2:16 pm
 
Forum: Personal Finance (Not Investing)
Topic: Cost of College & Weighing the Merits of Top Schools
Replies: 304
Views: 16765

Re: Do you not strive for success because it might offend ot

Differences in means can sometimes strain relationships. It happens. Envy is a real thing.

It does not in any way affect my ambition or how I spend money.

I do watch what I say or how i talk around certain people though.
by bigred77
Wed Apr 01, 2015 11:58 am
 
Forum: Personal Finance (Not Investing)
Topic: Do you not strive for success because it might offend others
Replies: 30
Views: 1664

Re: Corporate Finance vs Personal Finance

You can try to transfer over everything if you want. There's a logical argument to be made for most any aspect of running your personal finances like a business. I like to think of my own finances as that of bigred77 inc. Some key considerations however are that: - Emotions. personal finance is just...
by bigred77
Wed Apr 01, 2015 11:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Corporate Finance vs Personal Finance
Replies: 9
Views: 872

Re: Retirement AA

1.) 1 million in a SPIA at 66 will likely provide for all of your spending needs.

2.) 1 million in LifeStrategy Moderate Growth fund to fund COLA adjustments, if needed
by bigred77
Tue Mar 31, 2015 4:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Retirement AA
Replies: 5
Views: 450

Re: Need Some Advice-Recovered from Great Recession

I had a very positive condo owning experience. Bought in 2009 for 175k. Sold in 2013 for 210k. Condo is worth almost 250k today. i was in a newer building (built around 2003) and HOA fees were just over 300 per month. This was for a 1 bed apartment (850 sq ft). There is less privacy, sometimes it wa...
by bigred77
Thu Mar 26, 2015 9:50 am
 
Forum: Investing - Help with Personal Investments
Topic: Need Some Advice-Recovered from Great Recession
Replies: 12
Views: 1683

Re: Should a BH investor never use futures/options?

Whats with all the derivatives talk on bogleheads recently?? A.) The vast majority of bogleheads have no need for this nor should they utilize options or futures. B.) They can be useful as hedging instruments, usually for business purposes. C.) They can be used to speculate, if you want to and under...
by bigred77
Wed Mar 25, 2015 1:22 pm
 
Forum: Investing - Theory, News & General
Topic: Should a BH investor never use futures/options?
Replies: 70
Views: 4496

Re: U.S. cash pouring into international

I stay true to my AA and do not "tactically" overweight sectors or countries...

That being said...

With Valuations where they are abroad (vs the US market) and with the dollar being as strong as it is right now... makes alot of sense to me...
by bigred77
Wed Mar 25, 2015 1:15 pm
 
Forum: Investing - Theory, News & General
Topic: U.S. cash pouring into international
Replies: 23
Views: 2493

Re: Help w/ adult child hard-wired for poor financial decisi

Many people that age need to get a kick in the pants from "life" before they start to "get it".

Shes still really young. I would remain supportive and keep encouraging positive steps in the right direction.
by bigred77
Tue Mar 24, 2015 1:54 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help w/ adult child hard-wired for poor financial decisions?
Replies: 45
Views: 4806

Re: [New Member Observations- Covered Calls, Financial Advis

I think we got offtrack with the discussion of LTCM. My recollection is they were caught on the wrong side of a convergence trade in foreign bonds which ultimately led to their downfall. It was not selling covered calls on something like SPY. Uncle Pennybags, I understand you dislike the strategy be...
by bigred77
Mon Mar 23, 2015 12:16 pm
 
Forum: Investing - Theory, News & General
Topic: [New Member Observations- Covered Calls, Financial Advisors]
Replies: 227
Views: 17241

Re: Help w/ my mom's financial situation

I am in a VERY similar situation to the OP. - medical problems, especially from long time smokers, can come fast and hard. my mom is on SSDI at 59. - My mom is trying to make it on a paid off condo, freshly bought car, and 1200 a month in SSDI. She has maybe 50k in IRAs. She always complains she doe...
by bigred77
Fri Mar 20, 2015 7:06 pm
 
Forum: Investing - Help with Personal Investments
Topic: Help w/ my mom's financial situation
Replies: 18
Views: 1791

Re: Lowest income at which able to Max 401k and IRA

I would immediately switch from a Roth 401k to a traditional 401k in your situation. Just doing that and then paying off the car note at your present income would free up TONS of cashflow. if you switch jobs for a paycut you will simply have to reduce your lifestyle, your savings, or a combination o...
by bigred77
Thu Mar 19, 2015 5:41 pm
 
Forum: Investing - Help with Personal Investments
Topic: Lowest income at which able to Max 401k and IRA
Replies: 31
Views: 2716

Re: Can we afford a condo?

As long as you don't plan on retiring immediately upon purchase I think you have no problems.

If you can commit to working 2 more years I would tell you to go ahead and buy it.
by bigred77
Thu Mar 19, 2015 4:01 pm
 
Forum: Personal Finance (Not Investing)
Topic: Can we afford a condo?
Replies: 16
Views: 2036

Re: Observations from a first time poster, long time reader.

For those who actually understand what a covered call is, please explain how the pennies/steamroller analogy applies. The steamroller is the stock market crash. Normally we agree to incorporate it into portfolios because the rewards are equally outsized. But, when we agree to limit the rewards in e...
by bigred77
Thu Mar 19, 2015 3:47 pm
 
Forum: Investing - Theory, News & General
Topic: [New Member Observations- Covered Calls, Financial Advisors]
Replies: 227
Views: 17241

Re: Experience with PenFed refinance

I wanted to bump this older thread to see if anyone has had any experience with Penfed refinancings lately. I was just ultimately denied from a refinance with another company and it was a complete and utter nightmare. I had a bad appraisal but i still was plenty under 80% LTV. The loan was approved,...
by bigred77
Thu Mar 19, 2015 1:48 pm
 
Forum: Personal Finance (Not Investing)
Topic: Experience with PenFed refinance
Replies: 75
Views: 5640

Re: Interest rate hike signaled

I have a watchlist of every single Vanguard ETF, including 52 different ETFs. Literally every single one of them is up right now. Every single one. How is this even possible? My guess: A lot of people were moving to cash until after the announcement. Those people plowed cash right back into both eq...
by bigred77
Wed Mar 18, 2015 2:36 pm
 
Forum: Investing - Help with Personal Investments
Topic: Interest rate hike signaled
Replies: 25
Views: 2270

Re: Observations from a first time poster, long time reader.

- If we assume efficient markets, this is a zero sum strategy. I think most academics would tell you that on average, you would have a string of up years (vs just holding the ETF as a benchmark) and then lag the benchmark the following year by enough to basically equal the benchmark, net of transact...
by bigred77
Wed Mar 18, 2015 12:15 pm
 
Forum: Investing - Theory, News & General
Topic: [New Member Observations- Covered Calls, Financial Advisors]
Replies: 227
Views: 17241

Re: Did you buy a house because of low interest rate?

I upgraded earlier then I would have and bought much more house than I would have due to low interest rates. It worked out well for me. I understand this was not a risk free decision. I have no problem borrowing (to buy assets) when interest rates are low and I have no problem lending when interest ...
by bigred77
Tue Mar 17, 2015 11:27 am
 
Forum: Personal Finance (Not Investing)
Topic: Did you buy a house because of low interest rate?
Replies: 25
Views: 1810

Re: Options Trading - very simple intro book wanted

I have a textbook from an old finance class that I thought was pretty well organized and a relatively easy read.

Options, Futures, and other Derivatives
John C Hull
by bigred77
Fri Mar 13, 2015 10:58 am
 
Forum: Investing - Theory, News & General
Topic: Options Trading - very simple intro book wanted
Replies: 15
Views: 1384

Re: If 2% is real, we are . . . . ?

Understand that Dr Bernstein is only relaying his CALCULATIONS for EXPECTED returns... This is simply him taking calculated values and plugging them into formulas that the majority of finance academics accept to be the best models we have... Most would agree with his calculated values... HOWEVER: - ...
by bigred77
Wed Mar 11, 2015 3:57 pm
 
Forum: Investing - Theory, News & General
Topic: If 2% is real, we are . . . . ?
Replies: 63
Views: 6488

Re: The Single Greatest Predictor of Future Stock Market Ret

Its human nature to look for patterns in random data.

I have to think at least some of this article comes from this tendency.
by bigred77
Tue Mar 10, 2015 10:01 am
 
Forum: Investing - Theory, News & General
Topic: The Single Greatest Predictor of Future Stock Market Returns
Replies: 19
Views: 3282

Re: How to create a 3% return portfolio?

You seem like an ideal candidate for an immediate annuity if your over the age of 60 or so. I would recommend you look into those more closely and/or tell us why you dislike them so much. 30/70 is not an inappropriate AA for you but I don't necessarily think it's optimal either if you can live on 3%...
by bigred77
Mon Mar 09, 2015 1:14 pm
 
Forum: Investing - Help with Personal Investments
Topic: How to create a 3% return portfolio?
Replies: 52
Views: 5605

Re: Re-balancing with a brokerage link 401k

I have the same with my 401k at fidelity. I agree you need to revisit your time frames for "rebalancing". I only do it once per year. You can also choose your specific "lots" when you choose to sell and avoind any early redemption fee (unless your selling the whole fund and you m...
by bigred77
Mon Mar 09, 2015 10:42 am
 
Forum: Investing - Help with Personal Investments
Topic: Re-balancing with a brokerage link 401k
Replies: 6
Views: 551
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