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Re: Any success stories of ppl who never made >$50,000?

Abe wrote:I wouldn't call it a success story, but the most I ever made was around 65k per year, and I have a multi million dollar networth. Now my investments produce way more than I ever made.


How long did this take you to accomplish? I would definitely consider it a success story. :sharebeer
by tphp99
Wed Sep 17, 2014 10:47 am
 
Forum: Personal Finance (Not Investing)
Topic: Any success stories of ppl who never made >$50,000?
Replies: 149
Views: 9256

Re: Why do so many think their home is a foolproof investmen

I agree with MathWizard on this. For some people the best investment they can make is to get the highest mortgage they can afford because the only thing they will ever have is the equity in their home. How sad but true. I see my staff stretched to make payments on the home - but any extra money (bo...
by tphp99
Tue Sep 16, 2014 10:52 am
 
Forum: Investing - Theory, News & General
Topic: Why do so many think their home is a foolproof investment?
Replies: 125
Views: 6129

Re: Share your Hot-Rod Portfolio

Hot-Rods:
'71 RS Camaro
'11 Lotus Elise
'12 Boss 302
'13 Carrera 4s


Oh wait investments...yeah, well - that's more like a tricycle - pretty boring:

Total US, Total World, Total Bonds

Isn't that the point?
by tphp99
Tue Sep 16, 2014 10:46 am
 
Forum: Investing - Theory, News & General
Topic: Share your Hot-Rod Portfolio
Replies: 52
Views: 3501

Re: Help with a large business decision

Are you sure you would have twice the amount of work to fully utilize the capital outlay? If so, then it's a great purchase. The ROI would be really good as long as you can accurately forecast future production.

Good luck.
by tphp99
Mon Sep 15, 2014 10:24 pm
 
Forum: Personal Finance (Not Investing)
Topic: Help with a large business decision [capital expenditure]
Replies: 36
Views: 1367

Re: Why do so many think their home is a foolproof investmen

cashinstinct wrote:Because it's their only investment...


Well then in that case - yeah they have to think that.
by tphp99
Mon Sep 15, 2014 10:12 pm
 
Forum: Investing - Theory, News & General
Topic: Why do so many think their home is a foolproof investment?
Replies: 125
Views: 6129

Re: Why do so many think their home is a foolproof investmen

Again, a (rental) house may be an investment, a home is not. You do not consider your car as an investment. Your meals are not an investment. This does not make sense. You can drive your car until it is worth nothing. Or you can drive your car for 5-7 years and get maybe 20-50% of your purchase pri...
by tphp99
Mon Sep 15, 2014 9:54 pm
 
Forum: Investing - Theory, News & General
Topic: Why do so many think their home is a foolproof investment?
Replies: 125
Views: 6129

Re: Experience with dealer finding the exact car you want?

( I have an elise). The porsche 911 sports a 7 gear manual. :) The Elise is gone but the Exige is back with a supercharged 3.5l - I think the old natural aspirated 1.8l was a better engine for that car. Check out the 991 Porsche Carrera PDK (make sure it has the sport chrono) - it might make you re...
by tphp99
Fri Sep 12, 2014 10:47 am
 
Forum: Personal Consumer Issues
Topic: Experience with dealer finding the exact car you want?
Replies: 26
Views: 1710

Re: Calculated Spending: Cars

A lot of people see their cars as toys; many others consider them as necessary tools that make daily lives safer and more productive. I belong to the latter group. Having scanned some recent posts, I have not seen ones that discuss about a sensible spending for those who definitely need replacement...
by tphp99
Wed Sep 10, 2014 8:14 pm
 
Forum: Personal Finance (Not Investing)
Topic: Calculated Spending: Cars
Replies: 42
Views: 2823

Re: Experience with dealer finding the exact car you want?

I am toying with buying a new car. The model I want is an automatic and the only ones within 100 or more miles all have manual shift. If I have the dealer find the one I like, would I have any wiggle room on the price? Just wondering what other people's experience has been.... Which car? +1 So rare...
by tphp99
Wed Sep 10, 2014 8:02 pm
 
Forum: Personal Consumer Issues
Topic: Experience with dealer finding the exact car you want?
Replies: 26
Views: 1710

Re: Combo Plan [Retirement plan]

Freddie, That makes a lot of sense about waiting a few years - my guy kept saying that to me. Ubermax, My acct has a client who is in a similiar situation and said that the guy was able to contribute the $125K - but the consulting firm is running my census and we will sit down next week. Dhodson, I ...
by tphp99
Wed Sep 10, 2014 7:43 pm
 
Forum: Personal Finance (Not Investing)
Topic: Combo Plan [Retirement plan]
Replies: 22
Views: 1574

Re: Combo Plan [Retirement plan]

dhodson, Agreed, I avoided the 412i b/c of fees. freddie, Right, the taxes are deferred and hopefully paid at a lower rate in the future. How did it work out for you? Did you use a brokerage acct to invest this money? The cash from the combo plan can be rolled into an IRA when I shut it down, no? I'...
by tphp99
Wed Sep 10, 2014 6:07 am
 
Forum: Personal Finance (Not Investing)
Topic: Combo Plan [Retirement plan]
Replies: 22
Views: 1574

Re: Combo Plan [Retirement plan]

Yes I have a 401K safe harbor plan in place, and am talking to someone about adding the cash acct. My understanding is limited, my accountant pointed me in this direction but he has not seen the details. dhodson, what's the difference between pre-tax vs tax deductible? The entire $125K would come of...
by tphp99
Tue Sep 09, 2014 5:02 pm
 
Forum: Personal Finance (Not Investing)
Topic: Combo Plan [Retirement plan]
Replies: 22
Views: 1574

Re: Combo Plan [Retirement plan]

Wizard, I'm in my 40's and have no idea what taxes will look like in retirement. My options are 1) continue with 401K ($38K/yr) or 2) add a cash balance plan (hence the name - combo plan) where I might be able to contribute up to $125K pre-tax into an account which I have total control (sort of like...
by tphp99
Sun Sep 07, 2014 6:49 pm
 
Forum: Personal Finance (Not Investing)
Topic: Combo Plan [Retirement plan]
Replies: 22
Views: 1574

Re: Combo Plan

OP, don't see how anyone can answer your questions until you organize your thoughts - what does combo plan have to do with the second part ??? Well... it sort of does. I have an opportunity to put away an additional $125K per year into a combo plan. But if my retirement tax rate is the same as it i...
by tphp99
Fri Sep 05, 2014 10:35 am
 
Forum: Personal Finance (Not Investing)
Topic: Combo Plan [Retirement plan]
Replies: 22
Views: 1574

Re: Combo Plan

My taxable income in retirement is about the same as it was my last few working years presently, near the top of the 25% bracket. My last few working years, I was putting away the maximum in my tax-deferred 403(b) plan, along with paying into SS and those are gone now. Once I start RMDs and SS at a...
by tphp99
Fri Sep 05, 2014 10:30 am
 
Forum: Personal Finance (Not Investing)
Topic: Combo Plan [Retirement plan]
Replies: 22
Views: 1574

Combo Plan [Retirement plan]

Anyone here familiar with a Combo Plan: a mix of defined contribution and defined benefits? Is putting away so much into a tax-advantage space a good idea in the first place? I know, I know - it depends. But I can't seem to calculate the differences saving money after-tax vs tax-advantage because I ...
by tphp99
Fri Sep 05, 2014 6:17 am
 
Forum: Personal Finance (Not Investing)
Topic: Combo Plan [Retirement plan]
Replies: 22
Views: 1574

Re: Graduating Debt-Free, or with Elite College Degree?

How many of us here are doing exactly what we envisioned when we started undergrad? Not me, not my wife.

I vote for Debt-Free as that will afford opportunities to explore options after school. Better yet - Debt-Free with Elite College Degree.
by tphp99
Fri Sep 05, 2014 6:09 am
 
Forum: Personal Finance (Not Investing)
Topic: Graduating Debt-Free, or with Elite College Degree?
Replies: 92
Views: 4809

Re: The Worst Investment You Can Make: Buying a Home

Rainier wrote:Pretty sure having kids is far worse. Who is going to write that article?


What?!?! My son is going to be golf pro and my daughter a tennis pro. They are my retirement plan.
by tphp99
Fri Aug 22, 2014 10:39 pm
 
Forum: Investing - Theory, News & General
Topic: The Worst Investment You Can Make: Buying a Home
Replies: 135
Views: 16053

Re: Convince me I can make a dumb (car-related) purchase

Oh, you're on a "save as much as possible and then retire" website. But if you were on a car enthusiast site: they might tell you to skip the A3, S5 and Cayman and go straight to a Audi R8 or Porsche 911 GT3 - you can probably afford those. And yes, once you start spending $ on luxury cars...
by tphp99
Tue Aug 12, 2014 11:13 am
 
Forum: Personal Consumer Issues
Topic: Convince me I can make a dumb (car-related) purchase
Replies: 56
Views: 4325

Re: Convince me I can make a dumb (car-related) purchase

Used? You can afford a new S5 or Cayman. Go for it! That's kind of what I was thinking - but along the line of a new car will get you better service if you get a lemon. Make sure the dealer has a solid loaner car program. My MB dealer used to try to impose a 100 mi limit on the loaner, what good wo...
by tphp99
Tue Aug 12, 2014 10:38 am
 
Forum: Personal Consumer Issues
Topic: Convince me I can make a dumb (car-related) purchase
Replies: 56
Views: 4325

Re: Affording a 1.3 million home?

thanks for all the inputs folks.. With my profile, would would be the max you guys recommend we spend on a home?? ( In terms of moving from bay area, we can easily get jobs in SoCAl (SD) but what i am hearing from my friends is that the housing market there has also picked up a lot. We would probab...
by tphp99
Mon Aug 11, 2014 9:08 am
 
Forum: Personal Finance (Not Investing)
Topic: Affording a 1.3 million home?
Replies: 105
Views: 11221

Re: Rather be Home, Rather be at Work

cheese_breath wrote:I'm retired, and in my entire career I can't think of one day I'd rather have been at work than home.


Aren't you glad you're retired?
by tphp99
Mon Aug 04, 2014 3:01 pm
 
Forum: Personal Consumer Issues
Topic: Rather be Home, Rather be at Work
Replies: 30
Views: 3866

Re: Principal Residence = Poor Investment?

If Residence = Investment
then Residence is either = Good Investment
or Residence = Poor Investment
dependending on factors we do not control

If Residence does not = Investment
then Residence is neither Good or Poor Investment

Congrats. We're all right.
by tphp99
Thu Jul 31, 2014 10:13 pm
 
Forum: Personal Finance (Not Investing)
Topic: Principal Residence = Poor Investment?
Replies: 70
Views: 5368

Re: Do Bogleheads Feel Wealthier?

Throw in a serious health scare this year and I no longer see the point of squirreling away every penny for a rainy day which probably isn't going to come. The purpose of earning money is to spend it. If you feel wealthier, and are wealthier, and don't change your spending, and never do, then what'...
by tphp99
Tue Jul 29, 2014 8:45 pm
 
Forum: Personal Finance (Not Investing)
Topic: Do Bogleheads Feel Wealthier?
Replies: 57
Views: 4682

Re: I'm cosigner .. Friend thinking of bankruptcy .. Pls hel

Hi all... Am thinking of giving some money to friend to pay auto loan before bankruptcy! Is it good idea? Pls help fellas! You have a good heart. But learn from the cosign mistake first, then do not make the cash loan mistake afterwards. Unless you're OK with not seeing that money again - you're he...
by tphp99
Fri Jul 18, 2014 10:50 am
 
Forum: Personal Finance (Not Investing)
Topic: I'm cosigner .. Friend thinking of bankruptcy .. Pls help
Replies: 64
Views: 7835

Re: Who else hates choosing a car?

I don't understand the concept of "boring" with respect to cars. .... Boredom is not even a part of my selection criteria. Victoria Hate to say it, but "it's a guy thing." =) Or more accurately - it's a car nut thing. If you can't tell the difference between driving a Honda Acco...
by tphp99
Fri Jul 18, 2014 10:04 am
 
Forum: Personal Consumer Issues
Topic: Who else hates choosing a car?
Replies: 89
Views: 7565

Re: Options/guidance for a lazy person to be fit

sorry ogd, I disagree. Jogging will do it. I've jogged over 30 years now. Started originally to lose weight, which came off rapidly, then got hooked on the buzz I got from it. I've been able to keep the weight off all these years by doing so. At your age, 10 years less than mine, get a stress test,...
by tphp99
Fri Jul 18, 2014 9:36 am
 
Forum: Personal Consumer Issues
Topic: Options/guidance for a lazy person to be fit
Replies: 79
Views: 6006

Re: If interest rates would ever reach double digits again

If interest is 15% and you buy some long bonds to lock in that wonderful rate, what is to stop the interest rate of rising to 20% and you get killed? This could happen - but a lot of other "bad" things will also be happening in that kind of situation. I wish I had money back when interest...
by tphp99
Thu Jul 17, 2014 2:56 pm
 
Forum: Investing - Theory, News & General
Topic: If interest rates would ever reach double digits again
Replies: 36
Views: 3079

Re: How Much House Should I Buy?

OP, Congrats on a great start/career. You can certainly afford the $2-3M home. You're young and have plenty of time to recover if something "bad" happens. However, a 3,000 sq ft home might not look so great after a few years. What's next 5,000 sq ft? How about 10,000? Ask me how I know. Lu...
by tphp99
Tue Jul 15, 2014 8:17 pm
 
Forum: Personal Finance (Not Investing)
Topic: How Much House Should I Buy?
Replies: 81
Views: 4730

Re: Talk me out of buying a Porsche Convertible. DISASTER!!!

Wow, what a story. I suppose we should have talked you out of buying the Porsche. Who knew? On the bright side, here is an opportunity to do some fun stuff with the engine rebuild or like someone else said, consider a new, under warranty car and enjoy it headache free. Guys that work on cars work on...
by tphp99
Sun Jun 15, 2014 8:51 pm
 
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Porsche Convertible. DISASTER!!!
Replies: 45
Views: 6618

Re: Beach Condo

bhsince87 wrote:tphp99,

Wow, I didn't realize you only lived 45 minutes away! That makes my point about staying there in off peak times kinda moot.



Yeah, we figure we can drive over on any weekend when it's not rented out and work on the tan. :sharebeer
by tphp99
Thu May 29, 2014 10:07 am
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: Beach Condo

I am thinking about buying a condo. I looked at one several days ago. Talked to several people in the building, got preliminary information regarding reserve fund, planned future spending etc.....looking good. Then I googled the name of the building and came across a state supreme court summation o...
by tphp99
Thu May 29, 2014 9:32 am
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: Beach Condo

Thanks NOLA, glad to hear someone has taken the plunge on this. I wish you success and many years of enjoyment. We don't know anyone who's done this. Mostly beach homes that do not rent well. They all admit that it's a "cost" to stay at the beach. We started this search for a beach home, w...
by tphp99
Thu May 29, 2014 6:08 am
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: Beach Condo

Numbers: Asking price: $350K Average income (last 2 yrs): $50K less (everything) $35K Net: $15K Yes, we figured if this sucker is a money loser - well it's not a bad place to use as a vacation/beach getaway. Care to share the location? Are there more units for sale? The wife and I eye are looking a...
by tphp99
Wed May 28, 2014 10:29 pm
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: Beach Condo

We've been itching to get a beach front property for a few years now. We've been looking but some of the hurricanes and the BP oil spill scared us off. We've kept an eye on the market on the west coast of FL and it seems like a decent time to jump in. Yes, the catastrophic risk will always be there....
by tphp99
Wed May 28, 2014 5:46 pm
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: Beach Condo

Bustoff wrote:What are the asking prices for these units ?


2/2 for 325K
3/3 for 750K

6 floors, 4 different floor plans, total 26 units, builder still has about 10 units.

It appears the owners are mostly investors.
by tphp99
Wed May 28, 2014 12:16 pm
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: Beach Condo

Numbers:
Asking price: $350K
Average income (last 2 yrs): $50K
less (everything) $35K
Net: $15K

Yes, we figured if this sucker is a money loser - well it's not a bad place to use as a vacation/beach getaway.
by tphp99
Wed May 28, 2014 12:13 pm
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: Beach Condo

Maybe not tax free - but deferred due to depreciation.

I hear you on the "big one".
by tphp99
Tue May 27, 2014 10:14 am
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Beach Condo

Hi, Anyone invested in one of these beach front "condo-hotels" that are very prevalent in Florida (west coast) - and surely other coasts. We saw a few that cash-flowed (3-6%). We are interested in buying a unit as an investment. It would be a cash deal - selling a portion of bond invested ...
by tphp99
Tue May 27, 2014 9:57 am
 
Forum: Investing - Help with Personal Investments
Topic: Beach Condo
Replies: 26
Views: 3083

Re: When did you tell your children how much you had amassed

I thought I heard it here: the best way to teach your children about money is to not have any. I think there is a lot of truth in that.
by tphp99
Sun May 18, 2014 6:03 am
 
Forum: Investing - Help with Personal Investments
Topic: When did you tell your children how much you had amassed
Replies: 135
Views: 11163

Re: Talk me out of buying a Porsche convertible. Turning 40

Oh, looks like you bought it already. Well, enjoy it until you don't. Learn how to work on your own sports car will save you a bundle. That mid engine car though is a pain in the neck to work on - ask me how I know. I've owned the Cayman (very similar to your car) - takes forever to do anything on t...
by tphp99
Thu May 15, 2014 8:58 am
 
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Porsche convertible. Turning 40 soon
Replies: 42
Views: 5129

Re: Talk me out of buying a Porsche convertible. Turning 40

Don't get a Porsche unless you're willing to pay for expensive maintenance - and if something breaks = very painful. If you're going to take it to the track, you're going to break something. Look into a C5 Z06 - not a vert but is great for that price and most mechanics can work on that car. Awesome ...
by tphp99
Wed May 14, 2014 10:15 pm
 
Forum: Personal Consumer Issues
Topic: Talk me out of buying a Porsche convertible. Turning 40 soon
Replies: 42
Views: 5129

Re: What's your dream car?

henry wrote:
02sbxstr wrote:a 911 GT3 would look nice in the garage.


I'd like a 911 GT3 also. As far as a road goes, I'll picture myself in Germany, driving the Nurburgring.


New 911 GT3 only if they decide to go back to a manual trans.
Check out the retro Singer 911 - now that's a sports car.
by tphp99
Wed May 14, 2014 12:14 pm
 
Forum: Personal Consumer Issues
Topic: What's your dream car?
Replies: 185
Views: 11199

Re: Levels of Thinking

Bogleheads: Samuel Lee is a strategist on the passive funds research team for Morningstar and he is the editor of Morningstar ETFInvestor . In my opinion, Sam is one of their best thinkers and writers. Mr. Lee has written a provocative article about investors "Levels of Thinking." http://...
by tphp99
Tue May 13, 2014 11:52 am
 
Forum: Investing - Theory, News & General
Topic: Levels of Thinking
Replies: 6
Views: 1697

Re: An easy way to save money: Avoid the $300,000 car.

etf wrote:after months of saving, i was able to pick up a 2013 lamborghini aventador for a little under $300,000.


nice...

My wife won't let me sell our home to buy the new Porsche 918.
by tphp99
Tue May 13, 2014 11:32 am
 
Forum: Personal Finance (Not Investing)
Topic: An easy way to save money: Avoid the $300,000 car.
Replies: 152
Views: 17842

Re: An easy way to save money: Avoid the $300,000 car.

Browser wrote:
...are probably too dumb to realize how much that thing is really costing them. The really wealthy people are driving 12 year old cars worth about $3,000 if they were totalled and had to be replaced.


Really? and Really??

The real question is: what are you going to do with that $300,000?
by tphp99
Tue May 13, 2014 11:16 am
 
Forum: Personal Finance (Not Investing)
Topic: An easy way to save money: Avoid the $300,000 car.
Replies: 152
Views: 17842

Re: CNBC - 4% doctors are millionaires!!

staythecourse wrote: So what is the reason that Doctors are not a higher ratio of millinoaires then lawyers?



Answer: too many JDs... :oops:
by tphp99
Thu May 08, 2014 1:56 pm
 
Forum: Personal Finance (Not Investing)
Topic: CNBC - [Among millionaires, 4% are doctors]
Replies: 100
Views: 11029

Re: The Boglehead Car -- What is It?

On average, Bogleheads are extremely wealthy because of reasonable investing decisions they have made over the course of their lives. A car is not an investment, so The Boglehead Car is something like a Lexus, Porsche, Mercedes, Acura, or Tesla. Or maybe it is any car with "Vanguard Flagship&q...
by tphp99
Sat Mar 29, 2014 9:23 am
 
Forum: Personal Consumer Issues
Topic: The Boglehead Car -- What is It?
Replies: 150
Views: 11559

Re: Stocks that Don't Pay Dividends - Greater Fool Driven?

Oh, yes I do feel like a "Fool" owning stocks and bonds at times. But I've got to park my cash somewhere, and the market seems like as good as any place as any.
by tphp99
Fri Feb 28, 2014 7:31 am
 
Forum: Investing - Theory, News & General
Topic: Stocks that Don't Pay Dividends - Greater Fool Driven?
Replies: 73
Views: 4757

Re: Stocks that Don't Pay Dividends - Greater Fool Driven?

Scooter57, You are obviously thinking like an owner. You assume that when you buy shares, you own part of that company. However in practice you lack control of that company. In my business dealings, I have to fight tooth and nail with my partners, vendors, contractors - ect on various issues because...
by tphp99
Fri Feb 28, 2014 7:28 am
 
Forum: Investing - Theory, News & General
Topic: Stocks that Don't Pay Dividends - Greater Fool Driven?
Replies: 73
Views: 4757
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