Search found 93 matches

by grokzilla
Fri Mar 27, 2020 1:39 am
Forum: Personal Investments
Topic: When to jump back in?
Replies: 48
Views: 5982

Re: When to jump back in?

Well, 538's second epidemiological survey is predicting between 246,000 and 1.2 million deaths in the US from the virus in 2020 and a significant second wave of infection between August and November. We're at like 1,000 so far... Probably some volatility ahead.

Of course, like good little bogleheads, the epidemiologists freely admit they aren't really sure where this is going. So maybe 3/23 was it! Or maybe it's 8/1 or 10/5...sometime in 2021?
by grokzilla
Wed Mar 04, 2020 2:14 pm
Forum: Investing - Theory, News & General
Topic: Warren Buffet on renewable energy
Replies: 94
Views: 8308

Re: Warren Buffet on renewable energy

nedsaid wrote: Fri Feb 28, 2020 8:09 am Not against renewables or cleaner and greener energy but we are trying to force technology to advance by throwing wads of money at it.
Thought that was a really odd sentiment...

It's a pretty safe argument that the vast majority of technological advancement in the US, and likely the history of the world, has been directly driven by people "trying to force technology to advance by throwing wads of money at it."

That's sorta how science and scientific breakthroughs are achieved. Otherwise, nobody, including corporations, would spend money "developing" new ideas. We're several generations past the era of "garage inventors" changing the world.
by grokzilla
Tue Nov 19, 2019 3:00 pm
Forum: Personal Finance (Not Investing)
Topic: Car negotiation question
Replies: 52
Views: 5709

Re: Car negotiation question

You could join one of Subaru’s charity partners and get 2% below invoice. I believe there is a Pennsylvania flower and garden society or something that is $50 and they send the certification within a day or so. You can look on the Subaru forums for more partners and instructions. As far as your situation now, you could try expanding your search radius and see if a further away dealership will work with you. I'd highly recommend doing this. In fact, we just bought a 2020 Subaru using the Subaru VIP Program. Zero negotiation, zero hassle, zero fuss -- 2% below invoice, which includes any package or accessories too. It's very easy. You should call the local dealer you'd prefer to do business with first and confirm they participate in the VIP ...
by grokzilla
Sun Sep 15, 2019 1:36 am
Forum: Personal Finance (Not Investing)
Topic: Filing Taxes and Contributing to Solo 401(k) After Filing
Replies: 5
Views: 556

Re: Filing Taxes and Contributing to Solo 401(k) After Filing

Good to know. Thanks Spirit Rider.

Poor assumption on my part. Our accountant has always asked that we make the SEP and Solo contributions and tell him its been done prior to him submitting taxes. He's probably just ensuring it gets done.
by grokzilla
Sat Sep 14, 2019 3:11 pm
Forum: Personal Finance (Not Investing)
Topic: Filing Taxes and Contributing to Solo 401(k) After Filing
Replies: 5
Views: 556

Re: Filing Taxes and Contributing to Solo 401(k) After Filing

You can definitely use the tax filing extension deadline. I just contributed to my Solo 401k last week, in fact. However, I believe you must contribute before filing those extended taxes.
by grokzilla
Wed Jul 17, 2019 1:45 pm
Forum: Personal Finance (Not Investing)
Topic: in CA, what is the best way to save for kids college, in detail?
Replies: 21
Views: 1569

Re: in CA, what is the best way to save for kids college, in detail?

Many moons ago when we first made the same consideration in CA, the Illinois Bright Start 529 was the bee's knees according to Money Magazine and many others -- they used Vanguard funds, etc. So, we went with that one. We still have some funds for one child in that program, but haven't paid much attention to it of late and there have been some changes over the last few years. Still seems totally fine, but there may be better options today.

That said, it still might be worth investigating.
by grokzilla
Tue Jul 16, 2019 4:17 pm
Forum: Personal Investments
Topic: Help - Talk to me like I'm 4 y/o please
Replies: 97
Views: 12611

Re: Help - Talk to me like I'm 4 y/o please

kelsa8lynn, You're probably well along the path of working this out, but if you're still working on your next institutional relationship there's one additional point I'd make. Give serious consideration to Fidelity alongside Vanguard. No experience with Schwab so can't give any straight dope there, but have current accounts with the Fido and Vanguard. Vanguard is entirely great, but Fidelity has some worthy upsides, in particular for neophytes. Specifically, their customer support and online account access/management tools being notably superior. These are the two most frequent things I do in regards to my retirement accounts so I find their more robust nature to be pretty handy. That said, index investing doesn't require much of either (CS...
by grokzilla
Tue May 21, 2019 11:24 am
Forum: Personal Investments
Topic: Consolidating to Fidelity
Replies: 30
Views: 4117

Re: Consolidating to Fidelity

We semi-consolidated to Fidelity, but it was before our finances got as complex as they are today. So, maybe more of an example of growing into Fidelity. They have been perfectly capable of handling all of our new complexity -- probably no need to worry about them being able to offer you just about anything you need. That said, we still have Vanguard and other retirement accounts. One thing that has helped tremendously with that extra complexity is Fidelity's Full View which basically lets you monitor those accounts outside of Fidelity while you are in your Fidelity account. They used to use Mint, but I think they're using someone else now or have gone in-house with the service. Regardless, it is very helpful and saves time. You'll still ne...
by grokzilla
Thu Dec 27, 2018 12:58 pm
Forum: Personal Investments
Topic: TLH Possible with No New Taxable Investments?
Replies: 4
Views: 427

TLH Possible with No New Taxable Investments?

Is it still possible to TLH funds in a taxable account when no new investments were made this year?

The funds are all still "up" but have experienced some decline in 2018. We haven't put in any new money since 2017. However, the funds do auto reinvest so there are several lots that were purchased in 2017 and 2018 showing losses.

Any thoughts appreciated.
by grokzilla
Tue Nov 06, 2018 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: High Earners - What's Your Profession?
Replies: 1217
Views: 223007

Re: High Earners - What's Your Profession?

Senior finance executive public company. Also I would not consider a cutoff of $100K a high earner. I’d be thinking more along the lines of north of mid six figures. At that level you are well beyond making ends meet with the opportunity to save a considerable amount and doing something different (retire early to a life filled with lots of experiences). Others may draw the line higher (and would not be wrong in doing so). I’d offer as an example, mybother and sister in law who live on LI. They earn $200K between them and basically makes ends meet. They have little spare income or savings outside of workplace retirement plans. Agree that $100K isn't super high income, but its all relative to where you currently are. I know it seemed pretty ...
by grokzilla
Sun Nov 04, 2018 1:30 am
Forum: Personal Finance (Not Investing)
Topic: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?
Replies: 185
Views: 17457

Re: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?

You're making massive generalizations. I live in a city with a population of 38k...in Utah. I work for the world's largest company in my industry (my office door is a 7min walk from my home front door), the global headquarters of the 2nd and 3rd largest are <10 miles away. My wife is in tech (sales), she works for a ~500 data security firm and there are hundreds and hundreds of companies that she could work for within a 15 mile radius of our home (with names I'm sure you've probably heard off...Adobe, Ebay, Qualitrics, Domo, Pluralsight, Lucid, BambooHR, etc). There are also a handful of major hospitals within bike riding distance of my home. There is even a 50,000+ sq. ft medical facility on the global campus of my employer. It isn't a &q...
by grokzilla
Wed Oct 31, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?
Replies: 185
Views: 17457

Re: Is it more advantageous to live in HCOL or LCOL area in terms of financial independence?

Hello, From a financial standpoint, or achieving financial independence, is it better to live in a HCOL or LCOL area? A relative just moved to Nashville area after spending his whole career in Southern California, and now it seems he can retire so comfortably in the lower cost of living area that Nashville is. He sold his paid for Southern California home and that alone was worth a million or more. Just seems that going from HCOL during a working career to a LCOL can make a big difference. Housing aside. This remains largely true assuming you can secure a HCOL salary in that HCOL area -- that's the most important aspect. But, your chances are pretty good. HCOL areas are essentially just dense population centers, which means there are alrea...
by grokzilla
Thu Oct 25, 2018 11:34 am
Forum: Personal Finance (Not Investing)
Topic: Net worth compared to Medicare earnings
Replies: 16
Views: 1912

Re: Net worth compared to Medicare earnings

It's pretty tough to effectively look at your gross earnings to net worth ratio and compare it to peers in any sort of truly helpful way simply because net worth can be acquired in so many varied ways that have absolutely nothing to do with gross earnings. Most people will have wildly different ratios that seem entirely incongruous to their earnings -- but overall the simple rule that the higher one's earnings - the higher one's net worth is likely to be, is sure to apply. That said, I have seen a number of threads here that do take account of gross earnings and compare them to their savings rates, which provides a much more helpful measure of "how you're doing." Of course, be prepared for some pretty incredible savings ratios...w...
by grokzilla
Wed Oct 24, 2018 9:16 am
Forum: Personal Consumer Issues
Topic: [What TV Show Have You Recently Watched?]
Replies: 5973
Views: 690131

Re: [What TV Show Have You Recently Watched?]

Just finished Ozark, Jack Ryan and The Expanse (finished Expanse yesterday). These are going to be tough to follow. I have a number of things in my list, but can't help but think I'll be let down after The Expanse. I might try one of the following next: Carnivale, Sharp Objects, Killing Eve, Silicon Valley, Breaking Bad, Walking Dead, The Staircase, The Night Manager, The Killing, Endeavor, Vikings, Castle Rock or Fargo. Really liked Ozark and The Expanse, thought Jack Ryan was pretty mediocre, but enjoyable. Breaking Bad - fantastic The Night Manager -- fantastic, but a limited series The Killing - horribly fantastic...so depressing. Vikings - fantastic Walking Dead - rough first season, pretty great from season 2 through 5 or 6? Has been...
by grokzilla
Mon Oct 22, 2018 5:27 pm
Forum: Personal Consumer Issues
Topic: Beer - Strong German Style Lagers
Replies: 56
Views: 6371

Re: Beer - Strong German Style Lagers

Great Lakes is easily one of the best small brewers in the US. And Dortmunder Gold is one of their best beers. Their Elliot Ness might be the best amber lager I've ever had, just fantastic, and their Oktoberfest is pretty great too.

Definitely worth the effort finding them. Think they are based in OH.

I've also always enjoyed the kolsches from Cologne. Favorite is Gaffel which you can often find here, but its pricey and definitely a noticeable step back from drinking it right at the pub.
by grokzilla
Thu Oct 18, 2018 4:04 pm
Forum: Personal Finance (Not Investing)
Topic: Isn't Paying off the mortgage early putting less money in your house (not more)?
Replies: 96
Views: 11904

Re: Paying off the mortgage early - Isn't this the opposite of "putting more money into your house"?

Things I appreciate about my mortgage: 2) It provides a hedge against inflation. If we experience inflation my salary and home value should keep up, but my payments will not change. If you pay off your mortgage your future payments will ALSO be unaffected by inflation: they will remain at zero. So, that is NOT a unique advantage of having a mortgage. I think the point is that, all things being equal, if inflation doesn't affect the payment then one should opt for a larger payment in future years (i.e. NOT paying off the mortgage). Someone earlier in the thread explained it well - after 30 years of inflation, I'll be paying a fixed payment in current dollars while my salary is earned in future dollars. If future dollars are only worth the e...
by grokzilla
Thu Oct 18, 2018 11:24 am
Forum: Personal Finance (Not Investing)
Topic: Where would you go for financial guidance if you win the Megamillions?
Replies: 187
Views: 22002

Re: Where would you go for financial guidance if you win the Megamillions?

Why all the concern about anonymity? My state is full of rich people especially during ski season and unless they are pop culture or sports celebrities no-one bothers them. And family - I guess every family is different but I had a sibling sell a business for an eye-popping sum and no-one in the family asked him for money that I'm aware of. Seems like the people that get in trouble with lottery winnings do it to themselves and come from a hand to mouth existence. I might put a guy on the front porch for a while and would probably move to a home that had more privacy because that would be enjoyable and not solely because I'm scared of the world. I suspect it has more to do with the nature of human vultures taking the path of least resistanc...
by grokzilla
Wed Oct 17, 2018 11:14 pm
Forum: Personal Finance (Not Investing)
Topic: Kids not interested in money / allowance
Replies: 50
Views: 5969

Re: Kids not interested in money / allowance

My oldest son was similar to your kids in that he was never terribly interested in money until high school, but did enjoy a few kid hobbies, trading cards, legos, etc. And, THAT was the key. We essentially stopped buying those things he wanted for birthdays and holidays and rather ensured that through us or family he received enough money via gift cards or cash to make the purchases on his own. BUT, the most important part of the process was that whenever he spent money he was required to save an equal amount of money for himself in his bank account. So, if the new Lego kit cost $25, he had to come up with $50, depositing $25 into his savings before he could make that purchase. Was easy to monitor/manage since he couldn't get himself to the...
by grokzilla
Wed Oct 17, 2018 4:28 pm
Forum: Personal Finance (Not Investing)
Topic: Isn't Paying off the mortgage early putting less money in your house (not more)?
Replies: 96
Views: 11904

Re: Paying off the mortgage early - Isn't this the opposite of "putting more money into your house"?

NextMil wrote: Wed Oct 17, 2018 3:29 pm Don't you have to factor in federal taxes for the return on the ten year as well?
Likely easily offset by the mortgage interest deduction, no?
by grokzilla
Wed Oct 17, 2018 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Pls help us design our family life!!!
Replies: 42
Views: 6179

Re: Pls help us design our family life!!!

I should mention that I do see myself going back full time again when kids are gone. That makes me think if there was a way to borrow from my future self to pay for my current self, that would be perfect balance in life (I know sounds like a sci-fi movie...lol) Borrowing from future self would be AMAZING! Soooo much compounding.... :D Even better if young self could hijack old self's knowledge too! but, that's probably too much cheating... I'll settle for the former, plskthx! The good news with the kids is, that the expense of the early years totally mellows out once they reach school age and again once they are more self sufficient, e.g., middle school/junior high. Assuming no private school. There are all manner of new expenses along the...
by grokzilla
Tue Oct 16, 2018 10:46 am
Forum: Personal Finance (Not Investing)
Topic: Relocation to California
Replies: 49
Views: 5491

Re: Relocation to California

Hyperbolic? Personal experience? Nope. I lived there 30 years, and I have direct experience, not conjecture. You are quite correct in mentioning LA's population, the root cause of its many problems. Southern California, like the BA, simply does not have the infrastructure to support its overpopulation. Particularly after the economic meltdown, as LA has come roaring back economically, everyone, but everyone talks about the deteriorated quality of life. I lived (before I moved) in one of those "absolutely ridiculous number of wonderful places to live and work" in LA. The problem is you are surrounded by much less than wonderful places and often you can't help but have to go through or near them. Gangs and poorer neighborhoods are ...
by grokzilla
Tue Oct 16, 2018 1:25 am
Forum: Personal Finance (Not Investing)
Topic: Relocation to California
Replies: 49
Views: 5491

Re: Relocation to California

Until quite recently lived in Lost Angeles for over 30 years. I think I know a thing or two about it. I'd characterize it as a living hell. Driving of any kind hellacious. When I told people I had finally gotten my i'm moving get out of jail free card every conversation centered around how impossible it was to get anywhere. Plan on commutes in the valley well being over an hour. Heaven forbid you live in the valley and work on the other side of the hill. Forget it. Many surface street boulevards can resemble parking lots at times. Not a single freeway is jam free. Not a one. At any hour of the day (ok, maybe 3:32 in the morning, and even then you can run into traffic). The public transit system is marching on and will be acceptable by arou...
by grokzilla
Mon Oct 15, 2018 5:18 pm
Forum: Personal Finance (Not Investing)
Topic: CA vs NY: TAXES / BENEFITS
Replies: 11
Views: 945

Re: CA vs NY: TAXES / BENEFITS

If it's pass through income and you pay NY taxes because that's where it's "earned" but then live in CA, I'm pretty sure CA will then make you pay the difference to them assuming their rates are higher, e.g., no tax savings.

Works that way with partnerships with partners in different states than the "HQ.". And that's just another pass through entity.
by grokzilla
Fri Oct 12, 2018 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Just Divorced -- Need Help [looking for new credit card]
Replies: 73
Views: 8545

Re: Just Divorced -- Need Help

https://www.nytimes.com/2014/12/02/upshot/the-divorce-surge-is-over-but-the-myth-lives-on.html Divorce rates peaked in the 1980s and have been falling ever since. "Of college-educated people who married in the early 2000s, only about 11 percent divorced by their seventh anniversary, the last year for which data is available. Among people without college degrees, 17 percent were divorced." That's a far cry from 50%. I'm not divorced. None of my four siblings that got married have divorced. None of my wife's six siblings who got married have divorced (though one's spouse is in jail). None of my parent's siblings, nor my wife's parent's siblings have divorced. I can't even think of someone who is divorced. I know a lot of divorced p...
by grokzilla
Wed Oct 10, 2018 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Pls help us design our family life!!!
Replies: 42
Views: 6179

Re: Pls help us design our family life!!!

Hmmm, you're not really in a pickle, but you're sorta in a pickle! :) You've got plenty of income and you're doing well on savings but clearly could be doing more. That monthly spend is pretty darned high, but we've all been there. The nanny is probably costing you about as much as your mortgage per year. But, in 4-5 years you won't have nearly as much need for that nanny with one nearly in middle school and the other about to go to pre-school. Unfortunately, dropping the nanny expense is also about what you'd be reducing your salary to by going part time. So, you'd be right back where you are now...with a decent, but not exciting surplus per month. And, now that much closer to college expense. One thing we did when we were in a similar hco...
by grokzilla
Wed Oct 10, 2018 6:07 pm
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 963
Views: 103325

Re: Talk me out of buying a Tesla Model 3

Nate79 wrote: Wed Oct 10, 2018 3:39 pm Does anyone else find the car hideously ugly? A lot of people say that they find the car nice looking but I find it really ugly. Saw one driving on the interstate the other day, and before knowing what it was I thought it looked real ugly. My wife who was with me thought the same.
I think the Model 3 looks ALOT better than the Model S, but it does unfortunately share some of those bland lines. Alot of folks find the lack of a grill disconcerting.

That said, I think the Model 3 looks alot like a small Porsche Panamera, albeit toned down. And, I think Panameras look pretty great. But it's also got some old 929 and maybe some Mazda in it... I dunno. I'm pretty mixed, but generally positive.
by grokzilla
Wed Oct 10, 2018 2:33 am
Forum: Personal Consumer Issues
Topic: Thinking of moving to Texas, Iowa, Idaho, or North Carolina
Replies: 216
Views: 21385

Re: Thinking of moving to Texas, Iowa, Idaho, or North Carolina

Compared to SoCal (where my S-I-L lives) I would say NC has SoCal beat hands down in affordability of homes, culture (especially high culture), parking facilities and crime. You totally had me until "high culture!" What the heck is high culture and how could NC ever have anything remotely resembling it? :) Presumably you mean high-brow elements such as museums, art, plays, symphonies, etc? Unfortunately, if that's the case there is simply no comparison. I'm sure to the outside observer the sheer quantity of "low culture" in So Cal overwhelms, but it is a vast metropolis literally filled with the fancy flavors. Disney Hall, LA Philharmonic, LA Opera, LA Ballet, the Getty, the Greek, the Ford, the Ahmanson, Hollywood Bowl...
by grokzilla
Wed Oct 10, 2018 2:13 am
Forum: Personal Finance (Not Investing)
Topic: You're in the Top 1% if you have $2.5 million
Replies: 21
Views: 4318

Re: You're in the Top 1% if you have $2.5 million

The data I'd seen a few years ago put the Top 1% for Income around $400-450k per year, which is relatively attainable.

The Top 1% for Wealth on the other hand was notably less attainable at $9-10 million.

Unfortunately, those who achieve top incomes don't often stay in the top percentile for very long -- likely because it takes most folks some time to get there and then suddenly its time to retire! Conversely, there's nothing unfortunate about the top percentile for wealth!
by grokzilla
Tue Oct 09, 2018 2:27 am
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Tesla Model 3
Replies: 963
Views: 103325

Re: Talk me out of buying a Tesla Model 3

My question in all this discussion would be how do you get 1.6 milion in NW with 160k salary while driving a 911 :D The power of having no kids... :twisted: Still not possible. Saving 80k per year in the last 10 years won't even bring you close, but you cannot save 80 while driving a 911. We make few times more than 160k, the kid is cheap (public school, maybe 1000$ a year insurance, food 100$?, say 5000$ more in plane tickets and after school care), my NW is similar with yours but distributed a little differently, we are few years yonger, but I wouldn't even dream of buying any car more expensive than 25k. In this price range I get enough fun. Mazda Miata, Golf GTI are 2 good examples. If I stared with a 911 several years ago I would have...
by grokzilla
Sun Oct 07, 2018 10:57 am
Forum: Personal Finance (Not Investing)
Topic: Concerns of buying a home...what would you do?
Replies: 23
Views: 2584

Re: Concerns of buying a home...what would you do?

For what it's worth, I made the same "calculation" about not buying a home in the "overheated" market that was So Cal in 2001. And it was clearly overheated...but I just as clearly had no idea when and or if it was going to cool off. Just so happens that it corrected massively in 2007, but it certainly could have simply leveled off -- assuming it wasn't part of a larger issue which we all now know it was. Lesson I learned was that while I had a great sense of the local market, I simply could not predict the future. I avoided the crash, but also missed out on the run up as we ended up leaving in 2006 anyway. No real regrets, but sweating the details to the point of stagnation can be just as problematic. That said, probabl...
by grokzilla
Fri Oct 05, 2018 12:48 pm
Forum: Personal Investments
Topic: Self-employee investments
Replies: 11
Views: 1191

Re: Self-employee investments

Opening a SEP-IRA or Solo 401k is probably his best bet. At "lower" self-employed income levels the Solo 401k is the clear winner as it allows the large employee contribution -- even if he only made $20,000 per year he'd still be able to sock away that $18,500 into his retirement and then a hundred more as the employer. The SEP in that scenario would only ever be able to put away about 20% of that $20,000. However, the two plans equalize at higher self-employed income levels -- around $230k. So, in his situation, both the SEP and Solo 401k would be a good options. One potential problem with the SEP-IRA as Exit mentioned is the inability to effectively take advantage of the backdoor ROTH IRA. It's not a major issue, but its notable...
by grokzilla
Fri Oct 05, 2018 10:34 am
Forum: Personal Finance (Not Investing)
Topic: [Ally online savings now at 2.20%]
Replies: 285
Views: 58042

Re: [Ally online savings now at 1.80%]

Just got a note from AmEx that their Personal Savings is now at 1.90%
by grokzilla
Fri Oct 05, 2018 2:43 am
Forum: Personal Consumer Issues
Topic: Thinking of moving to Texas, Iowa, Idaho, or North Carolina
Replies: 216
Views: 21385

Re: Thinking of moving to Texas, Iowa, Idaho, or North Carolina

Compared to SoCal (where my S-I-L lives) I would say NC has SoCal beat hands down in affordability of homes, culture (especially high culture), parking facilities and crime. You totally had me until "high culture!" What the heck is high culture and how could NC ever have anything remotely resembling it? :) Presumably you mean high-brow elements such as museums, art, plays, symphonies, etc? Unfortunately, if that's the case there is simply no comparison. I'm sure to the outside observer the sheer quantity of "low culture" in So Cal overwhelms, but it is a vast metropolis literally filled with the fancy flavors. Disney Hall, LA Philharmonic, LA Opera, LA Ballet, the Getty, the Greek, the Ford, the Ahmanson, Hollywood Bowl...
by grokzilla
Wed Oct 03, 2018 3:27 pm
Forum: Personal Consumer Issues
Topic: Thinking of moving to Texas, Iowa, Idaho, or North Carolina
Replies: 216
Views: 21385

Re: Thinking of moving to Texas, Iowa, Idaho, or North Carolina

I know NC and TX pretty well having extended family in many locations in both states. And, also hail from CA. I love to visit TX, but I'd be hard pressed to recommend it as a place to live and I would certainly never do it myself. Lots of positives, but nearly as many negatives. Great and interestingly diverse cities and people in an unfortunate geographical area. The metros are also just beginning to seriously struggle with population -- it's like CA in the 80s, but with MUCH less infrastructure. We know this tune... NC is smaller but similar with interestingly diverse population centers, but in a tremendously fortunate geographical area. Also love visiting NC, but could easily see myself living there. Probably want to avoid the coast unfo...
by grokzilla
Tue Oct 02, 2018 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Adult kids getting help from parents
Replies: 36
Views: 3258

Re: Adult kids getting help from parents

We're both mid 40s. No financial help from either set of parents. Both worked through college and paid for our own tuition. This was true at the time for the majority of our close friends as well -- in mostly middle/upper middle class CA -- though plenty had their schooling paid for. Part of me wonders if there might be a bit of regionality associated with it...totally anecdotal, but it feels like it's more common on the right coast. I vividly remember the first time I learned about folks getting financial help from their parents as working adults at my first job. Was totally shocked when a coworker was talking about getting the yearly sum -- think it was $10k a year/parent then -- dad was a doctor. And, just as vividly remember saying to m...
by grokzilla
Thu Sep 20, 2018 11:22 am
Forum: Personal Finance (Not Investing)
Topic: 2018 QBI Deduction for LLC
Replies: 1
Views: 375

2018 QBI Deduction for LLC

Hoping I might be able to hijack some brainpower from the collective trust as it relates to the updated guidance for the upcoming QBI deduction in 2018. Looks like the IRS has weighed in at least initially on Section 199A, but it remains confusing to me... Here's roughly what I'm looking at: Single Member LLC -- it is a "qualified trade/business" $200k income Expenses tend to eclipse the new 12K personal deduction, but that's a fine starting point. Will make full employee/employer Solo 401K contributions At a quick glance it appears that I would qualify for the deduction as a single tax payer, but please let me know if that looks accurate. The challenge being we're actually married/filing jointly and the SO's income (assume $250k)...
by grokzilla
Wed Sep 19, 2018 12:42 am
Forum: Personal Finance (Not Investing)
Topic: self-employed professional - the best way to get things started?
Replies: 27
Views: 3330

Re: self-employed professional - the best way to get things started?

You might want to chat with the white coat investor folks for better advice on the medicine front - specifically as it relates to best biz structure, etc. I'm sure there are some particular particulars related to medical small biz, insurance, liability, etc. There's also no reason why your wife can't also just run her own LLC for the design business. Probably best practice to keep them separate too. But again consult a professional. As far as the IRS is concerned there are few differences between the various pass through biz structures -- partnerships, LLPs, LLCs, MLPs and even S-Corps. But they all afford varying degrees of protection and separation between the business, partners and personal assets. Read up on them and figure out what pro...
by grokzilla
Tue Sep 18, 2018 10:00 pm
Forum: Personal Finance (Not Investing)
Topic: self-employed professional - the best way to get things started?
Replies: 27
Views: 3330

Re: self-employed professional - the best way to get things started?

I'm sure others will chime in with suggestions and links to areas of the wiki you should consume -- it's a good resource so make sure to do so. You'll probably want to service that debt earlier too... For my part, I can provide some anecdotal advice in relation to self-employment. I'm not a finance pro or accountant, but I've run a small business for about 15 years. Here are some thoughts: SEP-IRA and Solo 401k: are probably the most significant retirement benefit to self-employment (aside from hours, being your own boss, etc.). The SEP allows you to put away $58,000 or 20% of business income tax free each year. The Solo 401K allows the same, but with an opportunity to contribute an additional $18,500. They both have the same limit, but the...
by grokzilla
Thu Sep 13, 2018 11:49 am
Forum: Personal Finance (Not Investing)
Topic: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?
Replies: 118
Views: 14247

Re: If you're FI, or close to FI, are still fighting to climb the Corp. Ladder?

We're FI in our mid-40s and have been for a few years, but are actually sorta diverging a bit on this. I've run a small business for about 15 years now and as of last year think I may have hit "the wall" -- desire to chase new business, push for more billing, etc has really waned with me. Initially thought it was a temporary phase, but not so sure now. So, I'm taking it a bit easier and continuing to service existing business and may even begin to wind down over the next few years -- but we'll see. My SO on other hand is still hard charging the ladder. Love's the large corp job and team -- can't imagine stopping. We have interesting conversations of late... Me: "So, maybe I'll retire first...?" SO: ::blank stare:: :oops:
by grokzilla
Wed Sep 12, 2018 10:29 am
Forum: Personal Investments
Topic: Fidelity, Schwab, or Vanguard
Replies: 82
Views: 11404

Re: Fidelity, Schwab, or Vanguard

I've been using Fidelity for quite a while now. They were just "fine" a few decades ago, but today they are great (no idea about company health, just referring to services offered to those with a Boglehead bend). Vanguard has really pushed them into a good space competitively. Fidelity has really good customer service, a very good web site with a robust set of online tools and the mild convenience of local investment centers -- handy when I need to hand deliver a check, etc. Also have good SEP-IRA and Solo 401K options, which I also use. The recent drop to zero fee index funds is pretty great too -- though it hasn't impacted any of my current indexes yet. We also have a Vanguard account. By comparison, their customer service is go...
by grokzilla
Wed Sep 05, 2018 2:49 pm
Forum: Personal Finance (Not Investing)
Topic: I hit the magic side hustle milestone in August
Replies: 19
Views: 5493

Re: I hit the magic side hustle milestone in August

Hey Spoco You could open a LLC and file for an S Corp with IRS. You should be able to save more on taxes. You can open a Solo 401K and save more. Consult with a CPA to get the details. I do not believe that filling as S Corp saves any money compared to sole proprietor. In fact, my understanding is that S Corp can only take qualified business income deduction on the profit after the owner pays him/herself a market salary. However, sole proprietors can take the deduction based off the entire side gig. Pretty sure the S-Corp loophole is still in effect or at least it was in 2017. It only really saves you FICA taxes on whatever portion of that income you designate as profit sharing, but may also drop your tax bracket some. That's one option if...
by grokzilla
Wed Aug 22, 2018 1:01 pm
Forum: Personal Finance (Not Investing)
Topic: How much do you put away in investments?
Replies: 66
Views: 7056

Re: How much do you put away in investments?

Heck, now I'm cornfused. I do not account for FICA in the $148k. Or fed tax on DIV/CG. FICA total is about $29k. DIV/CG tax is low because of my superior tax efficiency in my taxable account :D . State is TX. Way to go on tax efficiency! FICA is 7.65%. So I'm not sure how your effective tax rate is so low... I'm all about minimizing tax. FICA only hits the first $120k or so of income. Medicare continues on but is only about 2%. Then there's the ACA taxes above $250k and the investment side as well, but they are pretty marginal. Texas helps with the state taxes being artificially low, but they make up for it with silly property taxes and the SALT change is probably going to hurt in 2018. Of course, the bracket change will help some...top ra...
by grokzilla
Tue Aug 14, 2018 12:31 pm
Forum: Personal Investments
Topic: Beginner Help with inheritance
Replies: 10
Views: 1065

Re: Beginner Help with inheritance

1) Definitely do not rush to make any decisions. You've got time. Read the wiki and start learning...it's really not that complex. I think the suggestion to use Vanguard adviser services is a good one. 2) Be careful..."I am brand new to any kind of investments and serious banking." and "I am 40 years old so young enough to enjoy this..." are mildly concerning statements. 40 is not "young" from a retirement investing perspective and you may in fact be quite a bit "behind" where you should be from a savings perspective already at your age. Conversely, maybe you're not! Or, maybe the windfall was sufficiently large to catch you up, but the advice stands...Be careful and don't rush into any spending, eith...
by grokzilla
Thu Aug 09, 2018 3:22 am
Forum: Personal Finance (Not Investing)
Topic: Moving to LA - Tips Wanted
Replies: 26
Views: 2855

Re: Moving to LA - Tips Wanted

I would suggest giving strong consideration to the beach communities, more specifically Santa Monica. Schools are great, community is fantastic with no shortage of things to do and its very relaxed. its about 15 miles out, but its a straight shot on the 10. While the 10 is literally the most travelled highway in the US...theres ALOT to be said about having a highway close on both ends of your trip. Location wise, it also affords you easy opportunities to escape the city more easily via pch or the 405, comparable access to the airport and orange county, better to the valley. There's a layer of density to central LA that is pretty "impressive" but its notably thinner on the west side. Cost of living is really high but that's entirel...
by grokzilla
Wed Aug 01, 2018 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Fidelity Private Client Group
Replies: 82
Views: 40732

Re: Fidelity Private Client Group

I'm pretty sure there were only two tiers several years ago -- one being the Private Client Group and the other being essentially Wealth Management -- but the investment requirements were higher. PCG was $1 million invested at Fidelity iirc and then the wealth group was an order of magnitude more at $5 or $10 million invested at Fidelity. Noticed the change a few years ago when the minimum of PCG was lowered and the higher tier service vanished or morphed into the new one, but lost the benefits. I think the change happened around the same time they lowered their index fund minimums -- so at least 5-7 years ago. They used to have a page that very clearly spelled out the differences -- Google Archive?! There's definitely a boglehead thread he...
by grokzilla
Mon Jul 23, 2018 10:34 am
Forum: Personal Finance (Not Investing)
Topic: Guilt at buying nice things for myself
Replies: 28
Views: 4603

Re: Guilt at buying nice things for myself

Sounds like you're doing great and to be frank I firmly believe the "guilt" is healthy. It's keeping you honest about expenditures and likely means you're a naturally frugal person, which will serve you well.

Rough paraphrase of something I read many years ago -- "don't skimp on the things that make you truly happy." You have to take that advice with a grain of salt if for instance Lamborghinis are what make you truly happy... But, the point is intended to make sure you don't budget out things in your life that truly help you get through it. If fancy yarn and granny necklaces are your jam - then so be it! :D
by grokzilla
Mon Jul 23, 2018 10:22 am
Forum: Personal Finance (Not Investing)
Topic: Pay for college with cash flow
Replies: 78
Views: 8341

Re: Pay for college with cash flow

We have mostly "cash flowed" college expenses.

However, when the kids were young we did initially put an amount that eventually doubled and became a year's worth of tuition into 529s. It's a nice benefit, but I never liked the "opportunity loss" of those funds being locked into the plan. Sure, it's mildly ameliorating that you can pass the 529 to grandkids, etc. but we just didn't feel the restrictions were worth it nearly two decades ahead of time. So, we elected to go with a lighter funding.

Hindsight being 20/20, it was a probably a wash -- was a smart choice to lightly fund the 529 with one and we probably should have funded the 529s more aggressively with the others.
by grokzilla
Thu Jul 19, 2018 12:58 pm
Forum: Personal Finance (Not Investing)
Topic: Article on attributes of mentally strong people
Replies: 9
Views: 1618

Re: Article on attributes of mentally strong people

Well, I must not be mentally strong because I spend enormous amounts of time complaining about traffic, luggage and other people. Heck, I complain about EVERYTHING! :D

To date, this behavior has had no impact on my investing approach. No struggle to remain very solidly bogleheadian.

So, there is some hope for us with wet noodles between our ears!
by grokzilla
Thu Jul 19, 2018 12:43 pm
Forum: Personal Finance (Not Investing)
Topic: What is the most severe hyperbolic discounting you have ever acted on?
Replies: 30
Views: 3150

Re: What is the most severe hyperbolic discounting you have ever acted on?

Mostly I don't. Unless I'm trapped in an airport or similar. I'm an early adopter in a frugal, overly analytical, comparative shopper's body. I essentially research and procrastinate myself into the next generation's "new widget." I absolutely want that new toy, but I spend so much time researching, reading reviews, making comparative charts and spreadsheets that soon enough version 2.0 has arrived thus negating my need for version 1.0! Rinse, repeat. I do this for EVERYTHING. Houses, cars, sporting equipment, pepper, colleges, tech, shoes, kayaks, baking sheets, tents...you name it, I've got a spreadsheet for it and probably haven't bought it! :) The good news is it kills impulse purchasing entirely and when I do eventually make ...
by grokzilla
Wed Jul 18, 2018 1:04 pm
Forum: Personal Finance (Not Investing)
Topic: High Income earners, whats your Tax Strategy?
Replies: 122
Views: 22620

Re: High Income earners, whats your Tax Strategy?

Not sure if it's been mentioned but you can sock away a significant amount of additional tax-deferred funds if you can generate self-employment income -- preferably all of your income would be SE so you can reach the contribution limits, which are very high. In 2018, you can put away $55,000 tax free in a SEP-IRA or $73,500 in a Solo 401k (+$6,000 more if you're 50+). You'd need a self-employed AGI of about $275k to hit those limits. That's 300-400% more tax deferred space than the typical employee has available - every year! Easily self-employment's most notable tax benefit. Also saw someone mention the Romney IRA craziness from a few years back, which I've always found fascinating. Not that he utilized "carried interest" turning...