Search found 682 matches

by NoVa Lurker
Thu May 07, 2015 8:45 am
Forum: Personal Investments
Topic: New member, and way behind the 8-ball (long and boring)
Replies: 15
Views: 3148

Re: New member, and way behind the 8-ball (long and boring)

Welcome. I think you are in the right place, and you are already moving in the right direction financially. Contributing to a Roth IRA, building up the emergency fund a bit more, and paying off the student debt all seem like good priorities for you. In my view, there's no real magic to deciding among those options, since the student loans are not that high and you've already got a bit of buffer with the e-fund. One thing to check -- are there additional fees for keeping your 401(k) at the former employer? When I switched jobs, my former employer added a 1% extra fee at the time of separation, and it went up to 2% after the first year. I guess the idea is, why should the company subsidize your 401(k) when you no longer work there, but those ...
by NoVa Lurker
Mon May 04, 2015 10:12 am
Forum: Personal Finance (Not Investing)
Topic: Advice Needed: Family + Rental Property + Interesting Scenario
Replies: 22
Views: 3531

Re: Advice Needed: Family + Rental Property + Interesting Scenario

I don't understand the numbers. It looks like the deal is she will pay you a lump-sum of $165k, and in return she gets $100/month off rent, for a place that is bigger and more expensive than what she actually needs. And you are worried this does not make financial sense for _you_? Incidentally, we rent two properties right now. In one case, we have a long-term tenant, and Turbo Tax has been telling us the past few years that the rent we charge this tenant is below market value..... We probably charge $500/month less than we could get if we put the unit on the market for a new tenant, but our current tenant is just perfect. I have no intention of jacking the rent way up on our model tenant, and I am not worried about the IRS. Our tenant is a...
by NoVa Lurker
Wed Apr 29, 2015 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Thoughts on 529
Replies: 15
Views: 1528

Re: Thoughts on 529

OP - We are in about the same position as you, and we arrived at an initial target of $5500 per year per kid in 529s (as of 2011 - it should go up with inflation), but we are not one bit stressed out if we go below that some years. That was based on 4 years at UVA at 2011-12 prices (which is when we started the 529s), and assuming that investment returns roughly equal increases in college costs over the next two decades. No idea if those assumptions will hold, but it gave us a ballpark. The bulk of the advice on Bogleheads is not to prioritize 529s vs. virtually all other financial needs. That seems right, but if you are in great shape otherwise, it can make sense to start filling the 529 buckets. Great example, thanks. So you're planning/...
by NoVa Lurker
Wed Apr 29, 2015 9:44 am
Forum: Personal Finance (Not Investing)
Topic: Thoughts on 529
Replies: 15
Views: 1528

Re: Thoughts on 529

OP - We are in about the same position as you, and we arrived at an initial target of $5500 per year per kid in 529s (as of 2011 - it should go up with inflation), but we are not one bit stressed out if we go below that some years.

That was based on 4 years at UVA at 2011-12 prices (which is when we started the 529s), and assuming that investment returns roughly equal increases in college costs over the next two decades. No idea if those assumptions will hold, but it gave us a ballpark.

The bulk of the advice on Bogleheads is not to prioritize 529s vs. virtually all other financial needs. That seems right, but if you are in great shape otherwise, it can make sense to start filling the 529 buckets.
by NoVa Lurker
Mon Apr 27, 2015 11:00 am
Forum: Personal Consumer Issues
Topic: Been invited to wedding in Disney World. My cost?
Replies: 58
Views: 27154

Re: Been invited to wedding in Disney World. My cost?

I have learned that my wife and I essentially had a destination wedding for my side of the family, as she grew up on one coast and I grew up on the other. All her family lives within an hour of each other, whereas my extended family is spread over a bunch of cities. So we had the wedding in her hometown, which is a 5-hour flight from where we live now. Since then, I have been surprised how many friends and family members on my side have mentioned this as a "destination wedding," and how they had a hard time deciding whether to go or not. We thought we were being nice by inviting everyone, and we assumed most of them would not come, but at least they had the choice. It was fantastic to celebrate with everyone who came, and more peo...
by NoVa Lurker
Wed Apr 22, 2015 2:28 pm
Forum: Personal Finance (Not Investing)
Topic: Paying for GFs school - any way to help myself?
Replies: 76
Views: 16309

Re: Paying for GFs school - any way to help myself?

Please stay on-topic, meaning the financial aspects, which are: Hello Boggle-ites, I am paying for my girlfriend of 3.5yrs nursing edumacation (proudly - she is an all A achieving rock star). Last year I gifted her the money and she paid it through her bank account. This year, I am paying the institution directly. I am in the 33% tax bracket and she has no income. Is there a way that I can get any credit or benefit of paying for her education from the government/IRS? Obviously, I'm happy to do it regardless, as my parents always instilled the value of an education and the fact that nobody can ever take it away from you. Appreciate the insight, ATD The problem is that the answer to OP's question ("Is there a way that I can get any cred...
by NoVa Lurker
Mon Apr 20, 2015 10:21 am
Forum: Personal Finance (Not Investing)
Topic: Paying for GFs school - any way to help myself?
Replies: 76
Views: 16309

Re: Paying for GFs school - any way to help myself?

PPS: I'm the reason we aren't engaged or married. I lost my mother (57yo) to cancer in December 2013 and that rocked my world. My S/O helped take care of my mother and we have been inundated for the past 16+ months organizing my mothers estate. I'm the type of Type A person that completely immerses myself in the tasks that I focus on. I would like to give her a great wedding , and will hold off until I can appropriately do that and step away from work for a little bit. AirTimeMD, How long does it takes to go to the court house and register the marriage?? Officially and legally, you are married. Then, you can arrange a great wedding later. There are significant tax advantage to do this ASAP. And, if she is so important to you, you would lik...
by NoVa Lurker
Tue Apr 14, 2015 9:34 am
Forum: Personal Finance (Not Investing)
Topic: How to [Financially] Prepare for a Baby
Replies: 42
Views: 17684

Re: How to Prepare for a Baby

For the first two years, the only big financial impact is if a parent stops working to care for the child, or if you pay for child care to enable both parents to work. (Unless you have great family help, you're in one boat or the other.) We have two small kids. For us, all the other expenses have canceled each other out, except child care / not working. On the "increased expense" side, you pay for diapers, wipes, car seats, and some clothes and equipment here and there. On the "decreased expense" side, there are some small tax credits, and you end up eating out and doing things outside the house a LOT less. That's all basically been a wash for us, expense-wise. My wife exclusively breast fed each kid to about 5-6 months,...
by NoVa Lurker
Mon Apr 13, 2015 12:19 pm
Forum: Personal Consumer Issues
Topic: On a budget and Friday night
Replies: 68
Views: 9073

Re: On a budget and Friday night

My wife and I have two young kids. Our routine is to get takeout on Friday night. (It's not a financial splurge -- we use fresh ingredients when cooking, so takeout is often cheaper -- but takeout is easier than cooking and cleaning up afterwards.) Kids are fed, bathed, brushed, and asleep by about 8 pm, then we often watch one thing or part of one thing (sometimes on the iPad, sometimes on the Roku), and then just talk for an hour or two. Super-exciting topics range from: financial updates, kids' activities, home improvement/maintenance issues, planning upcoming visits from family members, etc. Most weeknights, we skip this discussion in favor of chores (washing dishes, cleaning, or catching up on work) in between some brainless screen tim...
by NoVa Lurker
Wed Apr 01, 2015 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Deleted
Replies: 10
Views: 1328

Re: hate Hate HATE shopping for home services

We have been much happier since we signed up for Angie's List two years ago. You have to pay, but it gives you access to a lot more information about the contractors, and the contractors with A ratings on Angie's List seem more incentivized to keep you happy, in order to maintain their high rating. I think the value of Angie's List depends on your location. A lot of people seem to use it in our area (Northern Virginia); if there were fewer reviewers for our area, it obviously would not work as well.

You could also try Amazon Home Services, https://www.amazon.com/services/. We haven't tried it, but it seems to be an effort to address exactly your frustration.
by NoVa Lurker
Wed Apr 01, 2015 11:28 am
Forum: Personal Finance (Not Investing)
Topic: Corporate Finance vs Personal Finance
Replies: 9
Views: 3807

Re: Corporate Finance vs Personal Finance

OP - Why are you asking?

In addition to the factors mentioned above, one difference is that, with personal finance, the principal is doing the labor. In other words, in your personal life, you can frequently save money by spending more time and effort. You can pay someone to take care of your yard, or you can do it yourself for "free." You can walk for "free," take the bus for a small expense, or take a cab that will cost more but save the most time. Those trade-offs are not really a factor in corporate finance. Corporate finance principles do not help much in making those decisions - you can try to put a dollar value on your own time, but that's an exercise apart from corporate finance principles.
by NoVa Lurker
Wed Apr 01, 2015 8:43 am
Forum: Personal Finance (Not Investing)
Topic: Bamboo vs Engineered Hardwood floor?
Replies: 12
Views: 5014

Re: Bamboo vs Engineered Hardwood floor?

We bought a home with radiant heating, and the floors were all in terrible shape, so we planned to replace them. We were told we cannot have "real" hardwood, because all the floors have a concrete base. We went with engineered hardwood, but we used a pretty thick option. I don't remember the exact thickness, but we were told it could be refinished 2-3 times.

That was about five years ago, and the floors still all look great. They look and feel like hardwood floors to me. No noticeable scratches, no issues.
by NoVa Lurker
Fri Mar 27, 2015 9:39 am
Forum: Personal Finance (Not Investing)
Topic: Can I afford a $1M house?
Replies: 82
Views: 25250

Re: Can I afford a $1M house?

We faced a similar decision to yours, and we ultimately decided to stay put. We concluded that we could "afford" a $1m (or even much higher) house, but it just wasn't worth it. We also live in a HCOL east coast suburb. Our income is in the same ballpark as yours. We have a lot more liquid savings than you seem to. We bought in 2010 for $700k, it's now appraised around $800k. The house was built in 1947, so while almost everything has been updated/added over the years, there is still a ton of ongoing maintenance. It's a needy house. I am fairly handy, but we have two young children, and I get annoyed with the choice of (1) lose weekend time with the kids, doing maintenance/improvements/fixes myself, or (2) overpay for others to do ...
by NoVa Lurker
Tue Mar 24, 2015 8:27 am
Forum: Personal Investments
Topic: Excess Cash - Play Monopoly or Repay Debt?
Replies: 94
Views: 23883

Re: Excess Cash - Play Monopoly or Repay Debt?

I would advise either deleveraging or building up your reserves. Right now it appears that you consider your mother's accounts as a portion of your reserves: The good news on those family loans is that I don't have to pay her on a schedule. One year I had a bunch of property issues blow up, and I was able to ride out the bad cash flow year by suspending payments to her for 6 months. I quickly caught up once the dust settled of course, but it does give me some added flexibility. While some, and apparently you, would be comfortable with this situation, I would not be. I would prefer to rely on my own funds rather than those of family members. Unfortunately, family help can sometimes come with strings attached, whether intended or not. I supp...
by NoVa Lurker
Wed Mar 04, 2015 9:02 am
Forum: Personal Consumer Issues
Topic: Frozen Pipes/No Water In Home
Replies: 29
Views: 4688

Re: Frozen Pipes/No Water In Home

I don't have any good advice for the OP; only commiseration. We had a pipe burst above our kitchen during the "polar vortex" last year. What a disaster. This year, we've been dripping faucets at night, keeping the heat in our house warmer all winter, and holding our breath whenever the temperature has been dropping into sub-zero territory, which has been way too frequent.

This whole thread makes me want to move south / west.

Good luck, and please let us know how it turns out.
by NoVa Lurker
Tue Feb 24, 2015 11:30 am
Forum: Personal Consumer Issues
Topic: Who's going to Disney this summer?
Replies: 84
Views: 15290

Re: Who's going to Disney this summer?

dgdevil wrote:
beasy44 wrote:Please go in October if you can, best time I've ever gone and we've done it multiple times.. Weather is nice and lines are lowww!
Aren't more rides closed during off-peak periods?
Yes, although Disney announces most closures long in advance, and you can find updated info easily -- e.g., here: http://touringplans.com/walt-disney-world/closures

There are lots of online forums dedicated to Disney if you want more information, including at disboards.com and easywdw.com.
by NoVa Lurker
Mon Feb 23, 2015 11:08 am
Forum: Personal Consumer Issues
Topic: Who's going to Disney this summer?
Replies: 84
Views: 15290

Re: Who's going to Disney this summer?

We went to Disney World this past November, during their "free dining" promotion. (Under this deal, you get a bunch of "free" meals if you pay rack rate for the hotel and park tickets.) We have two young boys. Overall, it was a blast, and not particularly expensive. We stayed on-site at the Pop Century hotel, which was great for us, and the weather was perfect. The total cost for 9 days was $2700 including all food, parks, transportation, and lodging. Rack rate at Pop Century was $113/night, which included about $140/day in "free" food, at Disney prices. The parks felt incredibly crowded, but we planned well, limited our hours in the parks, and did not spend much time in lines. Honestly, as shocking as the tick...
by NoVa Lurker
Wed Feb 18, 2015 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Another--should I rent it or sell it--post
Replies: 25
Views: 2417

Re: Another--should I rent it or sell it--post

Usually, I would say no way -- you should sell. Factors not mentioned above: your friendship with your new renter could be seriously strained by entering into a LL-tenant relationship; becoming a landlord will likely take way more time than you think; and you are dealing with owning two properties, so it's not just regular home maintenance but also major (and potentially very costly) issues that inevitably arise occasionally with real property. Home maintenance, repairs, and landscaping fixes could easily eat up the _entire_ $12k/yr, not just some of it -- or even more. However, when you say your kids are currently in "grade school," what exactly does that mean? And when exactly would you move back to the smaller house? And how se...
by NoVa Lurker
Fri Feb 13, 2015 11:24 am
Forum: Personal Consumer Issues
Topic: Dealing with Contractors
Replies: 9
Views: 1178

Re: Dealing with Contractors

I'm sorry about your daughter's accident, glad she is okay. That must have been really traumatic for your whole family. How many feet up is the railing? I.e., is this a railing on a second-story landing, or is it part of a staircase? Code or not, it sounds like it was poorly installed and is hazardous, and you should have it entirely replaced or reinforced. Whoever does the work (not just the contractor, but the actual workers doing the installation), you should make sure they know what happened with the accident.

I wouldn't feel badly about going with the first estimate, if it's in the ballpark of reasonable.

I think price, in this case, seems less important than having the job done well and relatively quickly.
by NoVa Lurker
Thu Feb 12, 2015 9:01 am
Forum: Personal Investments
Topic: What to do with 350K. Plop it in a 529?
Replies: 36
Views: 5898

Re: What to do with 350K. Plop it in a 529?

FYI if it hasn't been mentioned the $2000 state tax deduction is per beneficiary and it rolls over indefinitely. so maybe in 50 years you'll have it all deducted. Ohio! Wow! I didn't realize that. Unlimited carryover seemed too good to be true but I looked it up and sure enough you're right. Got to love Ohio! So in other words, if I invest $300,000 ($100,000 in 3 separate accounts) in an Ohio 529 after 50 years I'd potentially get $300,000 * 5.5% = $16,500 back. That's a long time to get the money back (I'd be 94 by then) but $16,500 is nothing to sneeze at. Earlier in this discussion I had dismissed this portion of the tax deduction as insignificant. Perhaps I should not have been so quick to do so. We did this in our Virginia 529s, and i...
by NoVa Lurker
Mon Feb 02, 2015 10:00 am
Forum: Personal Finance (Not Investing)
Topic: Replacing a reliable Toyota
Replies: 43
Views: 14354

Re: Replacing a reliable Toyota

We have been really happy with a RAV4 for a family of 4, but ours is not 4WD. We've had it for six years and had no real problems. Maintenance costs have been very, very low. With two rows, there is a ton of room in the back.
by NoVa Lurker
Wed Jan 28, 2015 3:52 pm
Forum: Personal Consumer Issues
Topic: Workplace net worth conversations you'd like to avoid?
Replies: 87
Views: 21100

Re: Workplace net worth conversations you'd like to avoid?

This is a variant on a line from Conan O'Brien's 2000 commencement speech at Harvard:

".... Never tell anyone in a roadside diner that you went to Harvard. In those situations, the correct response to, “Where did you go to school?” is “School? I never had much in the way of book learnin’ and such.” And then get in your BMW and get the hell out of there."

(Full transcript: http://www.allowe.com/laughs/book/COBspeech2k.htm)
by NoVa Lurker
Thu Jan 22, 2015 9:41 am
Forum: Personal Investments
Topic: Real 3% (CPI plus 3% guaranteed)
Replies: 21
Views: 3402

Re: Real 3% (CPI plus 3% guaranteed)

OP, If you are asking about the World Bank retirement plan, the Real+3% option is simply a great deal. The World Bank pension plan is one of the best-funded plans in the world. It puts those funds into an expansive mix of investments. Due to its large size, it is able to negotiate good terms, which has historically enabled it to offer the Real+3%. In the current low-interest-rate environment, there has been talk of moving to Real+[less than 3]%. Employees can always move funds from Real+3% (or whatever it is in the future) to one of the other options. Under the current terms, the CPI calculation for the "Real" component has a floor of 0 (i.e., it cannot be negative), so even in a deflationary scenario, there is a guaranteed return...
by NoVa Lurker
Wed Jan 21, 2015 1:22 pm
Forum: Personal Finance (Not Investing)
Topic: Transition to a single income household
Replies: 16
Views: 1961

Re: Transition to a single income household

- The non worker tends to go loopie for a while with just the kids to talk to and vastly reduced adult interaction :D This was the biggest thing I did not expect. For years before we had kids, my wife always rolled with the punches and had a positive attitude, through good times and bad. But then, while she was at home full-time, her mood and attitude really changed. After a few months at home, she got "loopy." Then she just became unhappy. Her days felt very long. She went back to work after 16 months at home. Overall, we are both much happier now. Our childcare costs, with two kids, are quite high. We net a positive amount with her working, but it is not much, it's not necessary, and to be honest, it makes my life more challeng...
by NoVa Lurker
Tue Jan 20, 2015 9:37 am
Forum: Personal Finance (Not Investing)
Topic: First time vacation home - mortgage or purchase with cash?
Replies: 10
Views: 1380

Re: First time vacation home - mortgage or purchase with cas

Would strongly, strongly, strongly, strongly suggest that you not buy a vacation home if you are considering buying a home in the NYC suburbs in the next 3 years. You probably feel cash rich now. You will not feel that way when you want to buy a home in that area. (Or even if you move to most other thriving suburban areas on the coasts.) You also probably currently have sufficient free time (even if it doesn't feel that way, with work and other obligations) to make the vacation home purchase more fun and less of a burden. You will not have that free time once you have a house, a real commute, a wife, and (let's say) two kids. You might have all of that in (let's say) 6 years. Those years will fly by. You are doing great financially, but -- ...
by NoVa Lurker
Wed Jan 14, 2015 11:24 am
Forum: Personal Finance (Not Investing)
Topic: When your spouse isn't quite as frugal as you
Replies: 94
Views: 13045

Re: When your spouse isn't quite as frugal as you

These issues are very, very normal for a relationship. I have seen many otherwise-good relationships get derailed by conflicts about spending habits. If I were you, I would really try hard not to harp on convenience store purchases. It's a different story if he's regularly buying new electronics on a credit card, losing money gambling, etc. That said, the suggestions from other posters above are good. If you can help your spouse spend less on convenience food (by preparing some stuff that he likes, and leaving stuff in his car that won't go bad), you'll both be happy. Is the $2-3k/month of savings per month in addition to retirement savings, or do you not have other retirement savings? If you are currently saving $2-3k/month more than what ...
by NoVa Lurker
Mon Jan 12, 2015 10:07 am
Forum: Personal Investments
Topic: Need help informing my father he is making a mistake
Replies: 58
Views: 7267

Re: Need help informing my father he is making a mistake

Yeah, I'd go even further than fposte. You are almost certainly correct that your father is making a mistake (and probably a few mistakes, all at once). But why take a conversation with your father in a negative direction, unless there is an urgent need? This is not really your business - people waste money in all kinds of different ways. In the past, I made a few mistakes in offering unsolicited advice to older family members, and they have definitely made a point of avoiding all financial talk with me, ever since. Having learned from the experience, that is fine with me. If your father asks for your advice, by all means, try to tactfully encourage him to pull his money out of what seems to be a 'higher-than-necessary-fees' investment. I w...
by NoVa Lurker
Tue Jan 06, 2015 9:47 am
Forum: Personal Consumer Issues
Topic: Any men here get their wedding band on Amazon?
Replies: 66
Views: 10787

Re: Any men here get their wedding band on Amazon?

I bought a tungsten carbide wedding band on Amazon in 2010. I recall it being $23 (with free shipping and, back then, no sales tax...).

I have worn it every day since then. It feels great and looks almost the same as the day I got it. (I am looking at it closely now, and I can see some light scratches.) I don't wear any other jewelry.

No regrets at all.
by NoVa Lurker
Tue Dec 30, 2014 8:26 am
Forum: Personal Consumer Issues
Topic: Do you read online reviews?
Replies: 26
Views: 2600

Re: Do you read online reviews?

We do - quite extensively! We have a house originally built in 1947, and there have been a bunch of problems where we needed a plumber/electrician/other contractor/etc. We've also done some voluntary improvements. We are in Northern Virginia. For the first three years in our home, we used the yellow pages and free online sites and asked for references. The references were always positive, but our experiences were hit-and-miss. Two years ago, after a really bad experience with a random landscaping company, we joined Angie's List. My wife wanted to join it; I was very skeptical in paying any money to use an online review site. I have to admit, it has made a huge difference. I think the biggest benefit is that the contractors with high ratings...
by NoVa Lurker
Wed Dec 17, 2014 8:19 am
Forum: Personal Finance (Not Investing)
Topic: SS Delay Question
Replies: 14
Views: 2266

Re: SS Delay Question

Just to follow on trasmuss' point - OP, I believe your initial thought is probably correct UNLESS your Dad made a significantly higher salary than your Mom. If your Dad's salary is just a little bit higher, then in the scenario where he dies before your mom has reached her FRA, her own benefits still may be worth more than widow benefits. (This is because widow benefits are adjusted down, based on whether the surviving spouse has reached FRA.)

By the way, nice work by your parents on being in a good financial position. With their expenses covered, hope they have some fun spending down their $300k+ in liquid investments.
by NoVa Lurker
Thu Dec 04, 2014 3:50 pm
Forum: Personal Consumer Issues
Topic: Fly or drive [with a newborn]?
Replies: 58
Views: 8088

Re: Fly or drive? Not just time vs. money anymore

My wife and I just completed a long-distance trip (10-day vacation, 700 miles away) with a 3.5-year-old and a 7-month-old. The decision we faced was either 12 hours each way driving or 3 hours flying. I assumed that would equal a minimum of 15 hours total if we drove (including stops for bathrooms, diaper changes, and for the kids to move around) or 8.5 hours if we flew (including getting to and from the airports, getting through security, and picking up and dropping off a rental car, which was a necessity). In each case, delays would be a possibility. After much debate, we decided to drive. The main factors were (1) being able to bring more stuff, (2) have our own car and car seats, and (3) avoiding the nightmare of flight delays. We were ...
by NoVa Lurker
Mon Nov 24, 2014 11:34 am
Forum: Personal Consumer Issues
Topic: Bogleheads, any "Black Friday" [recommendations]
Replies: 59
Views: 8239

Re: Bogleheads, anyone doing "Black Friday"

I struggle to understand the economics of Black Friday. Is it a case of just a few heavily discounted deals to lure in shoppers? What is the economic incentive for stores to offer discounts in the lead-in to the biggest shopping season, when presumably demand is highest? In the UK they have sales the day after Christmas, which at least makes sense in that shops need to get rid of excess stock. I think the term "doorbusters" gives a basic, initial understanding. Stores will offer sales on certain items to get customers in the door (or to get/keep customers on their retail sales site, like Amazon.com). They hope to profit more on the other purchases these customers make. But retail sales strategies are pretty complex, and retailers...
by NoVa Lurker
Wed Oct 29, 2014 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Finance kids' medical educations with a HELOC?
Replies: 24
Views: 3336

Re: Finance kids' medical educations with a HELOC?

One additional downside is the tension this will create if your son or daughter decide that medicine is just not for them, after racking up loans. If the loans are directly to them, from a financial institution, then the decision is theirs. If the loans are from you, then it will only make things tougher for them. I have a good friend who did 2 years of medical school, then dropped out. Fifteen years later, all his loans have long been repaid, and he makes nearly seven figures. But in those initial years after dropping out, it was tough. His family was also not supportive of the decision to drop out. Now he has a great relationship with both his parents, and they are happily (and prosperously) retired. I think it would have risked those rel...
by NoVa Lurker
Tue Oct 28, 2014 11:16 am
Forum: Personal Consumer Issues
Topic: New appliances - Stainless Steel or not?
Replies: 56
Views: 7402

Re: New appliances - Stainless Steel or not?

We have all 'stainless steel' appliances in the kitchen, and we like them. We have two small boys, so we are forced to take a pretty laid-back approach to smudges, etc. But even with fingerprints visible most of the time on the appliances, especially on the fridge, I'd still prefer the stainless finish instead of black or white.

The oven/range and microwave are "smudge proof" Frigidaire Gallery, and they are easier to keep looking nice. By itself, I think that's not enough of a difference to move the needle if you prefer something else, but it does help.
by NoVa Lurker
Tue Oct 28, 2014 7:39 am
Forum: Personal Finance (Not Investing)
Topic: Career Advice for an Unhappy Young Doctor?
Replies: 121
Views: 24271

Re: Career Advice for an Unhappy Young Doctor?

gasman wrote: Many are treated as little more than high priced help that the administrators would love to replace with mid priced help.
I am sure this is true, and demoralizing.

Unfortunately, you just described virtually everyone in every high-paying corporate job.

And I don't really see why medicine _should_ be immune to economic pressures. It's more that most professional schools - medicine and law, especially - continue to do a sub-par job at preparing students for the actual professional life that awaits them, including economic/business aspects and various other sources of stress that are different from the stresses of school.
by NoVa Lurker
Wed Oct 15, 2014 10:53 am
Forum: Personal Consumer Issues
Topic: How to wrap my head around downsizing my home?
Replies: 47
Views: 5453

Re: How to wrap my head around downsizing my home?

I am sorry about your diagnosis. Best wishes. Moving does seem to be the most sensible decision, but it doesn't mean you have to do it. As Skiffy suggests, there are probably other solutions if you just don't want to leave your home. Having said that, if I were in your shoes, I would move into a condo (say, on Massachusetts Avenue in Cambridge, if we're dreaming), even recognizing that it means giving up some of the benefits of your current home. The great thing about a condo vs. a large home on 1.5 acres is how much extra time you will have to live your life, instead of doing home maintenance. You could even consider moving into an apartment first. That might be instructive in terms of what you could (and could not) tolerate, in terms of n...
by NoVa Lurker
Thu Oct 09, 2014 8:30 am
Forum: Investing - Theory, News & General
Topic: 30 yr TIPs auction announced 16 oct: yield=1.10%?
Replies: 93
Views: 10877

Re: 30 yr TIPs auction announced 16 oct: yield=1.10%?

Leif wrote:Not too excited...
Yep, this is it in a nutshell.

While it may (or may not) be wise to have some long-term TIPS as part of your portfolio, it's a bit sad to lock in 1.1% real for 30 years.
by NoVa Lurker
Wed Oct 08, 2014 10:33 am
Forum: Personal Finance (Not Investing)
Topic: Wife Expecting, Down to One Income Source
Replies: 116
Views: 14216

Re: Wife Expecting, Down to One Income Source

I'm a man and I took my 3 month old daughter to the pediatrician with a 103 degree fever (my wife used up all her sick days with maternity leave). The nurse asked "where is the mother" as if my wife had died, run off, or had been deployed to Iraq. I remarked that she was at work and there was a very uncomfortable silence. I was pretty mad about the whole thing, the idea that a dad is so inept that they cannot take care of a sick child and that my wife was remiss in allowing me to care for my daughter. Not just in health care, but over and over again I am constantly interacting people who seem to be surprised that the dad can also play an active role in their child's life beyond playing catch on the weekends. I've had similar expe...
by NoVa Lurker
Tue Oct 07, 2014 10:24 am
Forum: Personal Finance (Not Investing)
Topic: Wife Expecting, Down to One Income Source
Replies: 116
Views: 14216

Re: Wife Expecting, Down to One Income Source

Congrats! One income is definitely doable. Remember that babies need very little "stuff". Get the minimum - car seat is pretty much the only "must have". +1. We now have a 3.5 year old boy and a six-month-old boy. Between gifts, consignment sales, and Craigslist, there was virtually nothing we HAD to buy for the first year. Now with boy #2, we barely spend any money on him. He's wearing boy #1's hand-me-downs, playing with #1's baby toys, sleeping in #1's old crib and pack-n-play, etc. It's great, since there were many outfits that boy #1 only wore once or twice. I know our kids WILL be expensive in the future, but in the first few years, the only big expense is just the foregone income if one parent stays home, or chil...
by NoVa Lurker
Tue Sep 23, 2014 2:14 pm
Forum: Personal Investments
Topic: Is it bad to put 23k a yr in retirement if I only make 42k?
Replies: 29
Views: 4720

Re: Is it bad to put 23k a yr in retirement if I only make 4

If we are putting it to a vote, I would vote in favor of building a buffer in a liquid account (as Grt2bOutdoors suggested), not in a tax-advantaged retirement account. One of my pet issues on Bogleheads is that there is too much focus on retirement savings, and not enough on other life savings. This leads people in their 20s to invest all in equities, mostly in tax-advantaged accounts, and potentially be unnecessarily cash-strapped during the young family years. OP, you are clearly smart and disciplined. Since you are disciplined, I would expect you could build up that savings and not touch it unless you really need to. But you may want the flexibility to stay home for a bit, or change jobs, after you have your first or second kid. You wil...
by NoVa Lurker
Thu Sep 18, 2014 11:48 am
Forum: Personal Consumer Issues
Topic: Australia and New Zealand
Replies: 47
Views: 7502

Re: Australia and New Zealand

We spent three weeks in Australia, about 5 years ago. Of all the good advice above, I think I agree most with tj. We loved: --Sydney - loved walking around and taking the ferries everywhere, especially out to Manly Beach --Blue Mountains - we just took a day train from Sydney, and hiked around the town --Port Douglas / Daintree (as mentioned by tj above) - we loved walking around Port Douglas, and we did a tour to see Cape Tribulation and Daintree --Great Barrier Reef - we took an overnight boat from Cairns, it was amazing --Litchfield National Park, outside of Darwin - amazing waterfalls and watering holes that you can hike and swim around We should have skipped: --Kakadu National Park, outside of Darwin - swampy and bug-infested when we w...
by NoVa Lurker
Wed Sep 17, 2014 8:39 am
Forum: Personal Finance (Not Investing)
Topic: Personal Financial Inventory (From Vanguard's Site)
Replies: 2
Views: 1597

Re: Personal Financial Inventory (From Vanguard's Site)

I created something like this awhile back, but I had been meaning to update it for the first time in a couple of years. This Vanguard list is useful to double-check if I missed anything. Thanks for posting it.
by NoVa Lurker
Mon Sep 15, 2014 1:54 pm
Forum: Personal Finance (Not Investing)
Topic: Young Guy, Probably Not Going To Live A Long Time
Replies: 30
Views: 5363

Re: Young Guy, Probably Not Going To Live A Long Time

Best of luck, and I am sorry for the news you have been given.

Since you want the money to be liquid anyway and you're not focusing on maximizing returns, I would not waste your time trying to get an extra 0.5% by investing in CDs, I-bonds, etc.

Just leave your money where it is, or perhaps do one quick transfer. I use an Ally Bank savings account, which is directly linked to my checking account - it moves around but is currently at 0.90%.

Then spend your life doing what you want.
by NoVa Lurker
Wed Sep 10, 2014 2:51 pm
Forum: Personal Finance (Not Investing)
Topic: ow Does Paying Off a Mortgage Affect Your Credit Score
Replies: 16
Views: 2218

Re: ow Does Paying Off a Mortgage Affect Your Credit Score

After we had the house paid for, we never had any major need for credit again--do you see something specific ahead for which you're likely to need a large loan? Unfortunately, this isn't the only issue. Credit scores affect a number of things not the least of which is the rate you pay for insurance with most companies in most states. The insurance credit scores fall into buckets; some of them are more granular than others. Progressive, for example, had different price tiers for people with beyond excellent credit (example: someone who had an equivalent FICO score of 800 might pay more than someone who had an equivalent FICO score of 820). You are right. We learned this the hard way. (Our homeowners insurance almost doubled as a result of a...
by NoVa Lurker
Wed Aug 20, 2014 3:29 pm
Forum: Personal Finance (Not Investing)
Topic: How to best pay for a second home?
Replies: 8
Views: 1385

Re: How to best pay for a second home?

Assuming that the Cape home is worth at least, say, $400k, and assuming zero possibility of default/foreclosure, then I agree with your approach. It will likely be cheaper to borrow against the primary home than against a second home. There's no reason to make it any more complicated than that.

Of course, another option is to just pay in cash from your liquid assets. Are you worried about the tax hit, or the liquidity hit?

One other question: what's keeping you in Cape Cod? I.e., why not sell the Cape home and move to AZ now?
by NoVa Lurker
Wed Aug 06, 2014 10:05 am
Forum: Investing - Theory, News & General
Topic: When is a 3.75% load worth it?
Replies: 79
Views: 8776

Re: When is a 3.75% load worth it?

OP - You have received very good, consistent advice above. In terms of "the specific use and weighting of this fund as a portfolio component": this fund does not belong in anyone's portfolio.

Posts like yours appear on Bogleheads on a regular basis, and it is a public service when folks like nisiprius, HomerJ, awval999, kenyan, and others respond swiftly and clearly.
by NoVa Lurker
Thu Jul 31, 2014 8:50 am
Forum: Personal Finance (Not Investing)
Topic: How many families use 529 plans?
Replies: 113
Views: 13221

Re: How many families use 529 plans?

jimday1982 wrote:Just out of curiosity, when you all are speaking about "fully funding retirement", are you talking about maxing out all available tax-advantaged accounts or just contributing enough to put you in a likely position to retire within your goal time frame? I ask because there's a wide disparity between the two for us.
Only speaking as to my own view, but there is obviously no need to max out all available tax-advantaged accounts in every situation.

E.g., plenty of public school teachers have a pension, plus the ability to use both 457 and 403(b) plans. Fully funding everything would leave them with almost nothing to spend today.
by NoVa Lurker
Thu Jul 31, 2014 8:30 am
Forum: Personal Finance (Not Investing)
Topic: How many families use 529 plans?
Replies: 113
Views: 13221

Re: How many families use 529 plans?

We have 529s for each of our kids, but they are our lowest priority of funds.

Since (1) we get a state tax break, (2) the money deposited can earn tax-free returns as long as it's eventually used for education purposes, and (3) we do plan to pay for four years of college for each of our kids (whether through savings, out of pocket, or loans), the 529s are a useful part of our overall savings plan. But the benefits are not so huge that we would forego other things to fund the 529s.
by NoVa Lurker
Thu Jul 24, 2014 8:43 am
Forum: Personal Consumer Issues
Topic: Here's another "where should I retire" thread
Replies: 104
Views: 11152

Re: Here's another "where should I retire" thread

My parents semi-retired in Newark, Delaware. I initially thought it was an odd choice, but I understand it a lot better now. They can walk to the main campus of University of Delaware, as well as the shops and restaurants of Main Street, but their neighborhood is removed from the undergrad / frat house community. Compared to you, they have much less resources from which to draw, but they still have a nice four-bedroom house (current value is probably around $400k), which allows the kids and grandkids to converge on holidays. They love it, and we enjoy visiting with our two kids. The main street area is especially great in the summer, when there are fewer undergrads around! It's close enough to both Philadelphia International Airport and BWI...
by NoVa Lurker
Mon Jul 21, 2014 10:36 am
Forum: Personal Consumer Issues
Topic: American in need of Premier team to root for
Replies: 21
Views: 1951

Re: American in need of Premier team to root for

Good call! My suggestion is to watch for a few years, then pick. Your allegiances will likely shift a bit, and then settle. I think you will like the Premier League. My wife and I realized last year that we watch more club soccer than everything else on TV (including all other sports) combined. We support Everton but also root for any promoted or lower team that manages to play openly/offensively. Still hoping Blackpool will some day find their way back. (By the way, Everton will never "win it all," and realistically, they will only qualify for Champions League if they manage to have a great year when multiple top teams have bad years. But Tottenham is no different in that respect. There is just too much money and history at MUFC,...