Search found 1510 matches

by BW1985
Wed May 24, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 8228

Re: Net worth is overrated

sunny_socal wrote:Maybe thread should be called "Net worth is misunderstood." It's not cash flow. It's ALL assets and ALL liabilities. Period.


:thumbsup
:sharebeer
by BW1985
Tue May 23, 2017 11:00 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 8228

Re: Net worth is overrated

I never understand when people say my net worth is X but that doesn't include Y assets. No, that's not your net worth. Net worth is all assets - all liabilities. If you only consider your 401k/IRA's/ect. then call it your investable assets because that's what it is. Just a pet peeve I guess. +1 &qu...
by BW1985
Tue May 23, 2017 9:00 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 8228

Re: Net worth is overrated

Net worth is a useful document that essentially states your present net worth. Also, as the OP states, there is a lot of variability in what people put in a net worth statement which makes it difficult to compare with others. It seems it is used more on this site for bragging rights. For some or a ...
by BW1985
Mon May 22, 2017 4:33 pm
Forum: Personal Consumer Issues
Topic: Luxury Vinyl: Educate Me
Replies: 15
Views: 2012

Re: Luxury Vinyl: Educate Me

Used vinyl in our bathrooms, installed it ourselves and people mistake it for tile looking at it. We used this product: https://www.menards.com/main/footer/company-information/about-us/cyber-monday-2017/tarkett-reg-urban-classic-sheet-vinyl-12-ft-wide/p-1444444778028.htm?primaryMeas=144.0 http://i34...
by BW1985
Mon May 22, 2017 9:54 am
Forum: Personal Finance (Not Investing)
Topic: Net worth is overrated
Replies: 76
Views: 8228

Re: Net worth is overrated

I think the opposite is true. As the number of people with pensions continues to decline and the future state of social security unknown, net worth is all you can truly count on because you control it.
by BW1985
Sun May 21, 2017 3:49 pm
Forum: Personal Consumer Issues
Topic: blackout curtains
Replies: 15
Views: 1625

Re: blackout curtains

Ikea blackout roll shades + black out curtains from Target. One of these was not enough, we needed both.

The shades let light in through cracks in the side and the curtains by themselves were not enough.
by BW1985
Sun May 21, 2017 3:40 pm
Forum: Investing - Help with Personal Investments
Topic: Do you keep extra money available for investing
Replies: 32
Views: 2509

Re: Do you keep extra money available for investing

This is often called dry powder around here.

Our emergency fund in extra large and yes I do consider some of that dry powder.
by BW1985
Fri May 19, 2017 10:47 am
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

I talked it over with my wife and we think this is the best option for us because we already have this flooring on our main level and I also won't need to cut off the 2x bullnose, this would wrap right over it. More money then we wanted to spend but in the grand scheme have to go with the best opti...
by BW1985
Fri May 19, 2017 9:01 am
Forum: Personal Finance (Not Investing)
Topic: Buy 1st House Cash?
Replies: 20
Views: 1404

Re: Buy 1st House Cash?

If OP already knows that his family will want a bigger/more expensive home, then I would personally aim to put down a large downpayment (at least 20%) on the larger home. Buying and selling a home comes with some pretty hefty transaction costs (movers/truck rental, opportunity costs for the time in...
by BW1985
Thu May 18, 2017 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Buy 1st House Cash?
Replies: 20
Views: 1404

Re: Buy 1st House Cash?

Yes I chose to keep the money invested in taxable (total stock) and take out a 15 year fixed rate instead. I put 20% down. So far it's worked out favorably.
by BW1985
Thu May 18, 2017 8:53 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

This is very helpful, thank you. Where did you screw them down? I'm not sure what on the tread ends means. I don't see any screws in your picture though. And just curious why do you call it rough 2x stairs? What does 2x mean? I ran a screw in about 1-1/4" back from the front bull nose edge, an...
by BW1985
Thu May 18, 2017 6:39 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

This is very helpful, thank you. Where did you screw them down? I'm not sure what on the tread ends means. I don't see any screws in your picture though. And just curious why do you call it rough 2x stairs? What does 2x mean? I ran a screw in about 1-1/4" back from the front bull nose edge, an...
by BW1985
Thu May 18, 2017 4:30 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

Really nice!! So you removed the existing rough tread or did you put the new tread on top of the old one? I'm not sure what you mean by cut the bullnose off. I left the rough 2x stairs in place, just like yours look in the picture now. But the tread did project past the riser a little. Like yours d...
by BW1985
Thu May 18, 2017 3:51 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

Very nice. How did your existing treads look though, was the tread flush with the riser? My tread sticks out so if I put those oak treads on top then the bullnose would stick out even further and depending on that front thickness there could be a gap underneath. Hope that makes sense. My treads had...
by BW1985
Thu May 18, 2017 3:38 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

I finished two staircases very similar to yours last year using the oak treads that slide over the existing builder grade treads. I used white risers. I bought all of the supplies from Lowe's, stained, and applied two coats of satin polyurethane so that the treads match the oak floors in the rest o...
by BW1985
Thu May 18, 2017 3:04 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

Living in an older home our stairs are a little steeper than recommended these days. We had carpet which is actually dangerous as it is too easy for someone wearing slippers or any smooth soled shoe to skid on the steps. I stripped all the carpet, pulled nails and staples, filled holes, and finishe...
by BW1985
Thu May 18, 2017 2:43 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

Here's a very inexpensive way to finish rough steps into elegance and functionality: Stairway Gets A New Look Additional advantages: fill the gaps with any product that's sandable and hardens. This very project is actually on my August docket. If it piques your interest, I can send you other helpfu...
by BW1985
Thu May 18, 2017 1:57 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

That looks a lot like my results. Here's an in progress image. The risers are primed, the treads are finished. I'm test fitting the parts. The railing is gone -- to be replaced later. You can just see a raw step at the top. I recall now I used a Sawsall to remove the 2X bull nose that was under the...
by BW1985
Thu May 18, 2017 1:31 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

You should use oak for the treads. The trim and railing of your staircase is white oak from the looks of it. I would use the same thing and try to match the stain. Pine is not going to look as good if you go with a wood finish. Pine is not nearly as durable either. You could use a pine or poplar bo...
by BW1985
Thu May 18, 2017 9:11 am
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

That piece in the back just looks like a spacer, letting the rough treads be made out of standard dimensional lumber. That piece should be taken out along with the tread. If your new tread of choice is not wide enough (front to back) you could look for wider treads, or buy extra and rip the same sp...
by BW1985
Thu May 18, 2017 9:11 am
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

I've remodeled a similar set of stairs. Removed the existing tread and replaced with solid hardwood treads. These are available at Home Depot and other home centers. Cap the risers with matching 1/4" plywood. Finish with several coats of poly. I glued (construction adhesive) and screwed the tr...
by BW1985
Thu May 18, 2017 8:43 am
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

I've remodeled a similar set of stairs. Removed the existing tread and replaced with solid hardwood treads. These are available at Home Depot and other home centers. Cap the risers with matching 1/4" plywood. Finish with several coats of poly. I glued (construction adhesive) and screwed the tr...
by BW1985
Thu May 18, 2017 7:48 am
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

I'm wondering is it would end up working out better (and maybe be easier and maybe less expensive) to have the staircase completely replaced with stairs that are stained and fitted to the area. There may be a point where cutting/patching/staining is more work then a simple replacement. We renovated...
by BW1985
Thu May 18, 2017 7:46 am
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

I've remodeled a similar set of stairs. Removed the existing tread and replaced with solid hardwood treads. These are available at Home Depot and other home centers. Cap the risers with matching 1/4" plywood. Finish with several coats of poly. I glued (construction adhesive) and screwed the tr...
by BW1985
Thu May 18, 2017 7:42 am
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Re: Refinishing roughed in stairs - removing carpet

I've remodeled a similar set of stairs. Removed the existing tread and replaced with solid hardwood treads. These are available at Home Depot and other home centers. Cap the risers with matching 1/4" plywood. Finish with several coats of poly. I glued (construction adhesive) and screwed the tr...
by BW1985
Wed May 17, 2017 9:46 pm
Forum: Personal Consumer Issues
Topic: Refinishing roughed in stairs - removing carpet
Replies: 44
Views: 1595

Refinishing roughed in stairs - removing carpet

Looking for some advice.. We removed the carpet and planned on cleaning up the rough wood underneath- sanding, painting and caulking the gaps between the stair and molding. Problem is, the gaps are larger than we thought, like 1/2" or so, can't caulk that! I'm thinking of adding sheets of 1/4&q...
by BW1985
Wed May 17, 2017 9:43 am
Forum: Personal Finance (Not Investing)
Topic: Tax Planning for retired parents
Replies: 10
Views: 787

Re: Tax Planning for retired parents

They are retired yes. Dad started SS at 62, Mom plans to start taking at 62 - their earnings are comparable. Mom is questioning why she would wait until 70. If she takes SS early then she will probably be maximizing her federal + state tax rates and minimizing the SS income that the last to die sur...
by BW1985
Tue May 16, 2017 4:30 pm
Forum: Investing - Help with Personal Investments
Topic: Article: "Our emergency fund is exactly $0.00"
Replies: 73
Views: 7255

Re: Article: "Our emergency fund is exactly $0.00"

There's something about having cash on hand to me that is just comforting. Maybe for other's it's not. Some also count their cash as part of their fixed allocation- so 80/20 with bonds vs. 80/20 with cash. Both are 80/20- one says they have an 'emergency fund' and one doesn't but they're both 80/20.
by BW1985
Tue May 16, 2017 10:53 am
Forum: Personal Finance (Not Investing)
Topic: Tax Planning for retired parents
Replies: 10
Views: 787

Re: Tax Planning for retired parents

They are retired yes. Dad started SS at 62, Mom plans to start taking at 62 - their earnings are comparable. Mom is questioning why she would wait until 70.

Their RMD's will probably be saved in cash.
by BW1985
Tue May 16, 2017 9:47 am
Forum: Personal Finance (Not Investing)
Topic: Tax Planning for retired parents
Replies: 10
Views: 787

Tax Planning for retired parents

My parents are looking for advice on how to handle their traditional 401k/IRA money. 59 & 64 Pension + SS = 72K/year take home pay (covers all expenses) 401k/IRA = 1.4M If they leave it as is then at 70 they will be forced to take RMD's I believe. Would they be better to start withdrawing or Rot...
by BW1985
Tue May 16, 2017 9:35 am
Forum: Personal Finance (Not Investing)
Topic: Retirees afraid to spend? (Bloomberg)
Replies: 47
Views: 2387

Re: Retirees are hoarding cash

So people spend based on what they need or wish to spend, not just on what somebody feels they could spend. That's not hoarding money. +1. People who save diligently their entire lives to have the assets they do are not going to blow it all in retirement on consumer spending. I don't need to read a...
by BW1985
Mon May 15, 2017 10:11 pm
Forum: Personal Finance (Not Investing)
Topic: What home improvements are worth it
Replies: 37
Views: 5315

Re: What home improvements are worth it

I didn't say they "can't", I said the average return in less than 100%. Home improvements "can" make money, and picking stocks "can" beat the market. As a general rule though, neither tends to work out in an investor's favor. Fair point. Works for some uniquely skilled...
by BW1985
Mon May 15, 2017 11:45 am
Forum: Personal Finance (Not Investing)
Topic: What home improvements are worth it
Replies: 37
Views: 5315

Re: What home improvements are worth it

I didn't say they "can't", I said the average return in less than 100%. Home improvements "can" make money, and picking stocks "can" beat the market. As a general rule though, neither tends to work out in an investor's favor. Fair point. Works for some uniquely skilled...
by BW1985
Mon May 15, 2017 10:15 am
Forum: Personal Finance (Not Investing)
Topic: What home improvements are worth it
Replies: 37
Views: 5315

Re: What home improvements are worth it

Honestly, the ones you should do are the ones that you will enjoy. When talking home renovations of any kind, the "Average" return on investment is less than 100%. That means you'll get back less than you spend on it. From a purely financial standpoint, that means pretty much none are &qu...
by BW1985
Fri May 12, 2017 11:03 am
Forum: Personal Consumer Issues
Topic: Beware Citibank Bonus Promotion
Replies: 23
Views: 3553

Re: Beware Citibank Bonus Promotion

I hope I get my 50K American miles from their credit card. They said it could take up to 2 statements to post after the statement where I hit the spend for the bonus, what a joke. Chase points immediately on the same statement. I'm done with Citi.
by BW1985
Fri May 12, 2017 8:43 am
Forum: Personal Consumer Issues
Topic: Beware Citibank Bonus Promotion
Replies: 23
Views: 3553

Re: Beware Citibank Bonus Promotion

Thanks for the heads up, Citi sounds like a real PITA to deal with and not worth the trouble for account bonuses.
by BW1985
Fri May 12, 2017 8:39 am
Forum: Investing - Help with Personal Investments
Topic: Young professional planning for early semi-retirement
Replies: 34
Views: 3984

Re: Young professional planning for early semi-retirement

Good thread OP. I'm sure there are at least a few here that are planning to do the same as you.. I'm one of them. 1. Maximize income/career- for me this has been changing companies, moving, lots of interviews to climb the pay scale 2. Maximize use of tax sheltered accounts 3. Minimize spending to wh...
by BW1985
Wed May 10, 2017 12:36 pm
Forum: Personal Consumer Issues
Topic: Considering new approach to credit card churning
Replies: 45
Views: 6918

Re: Considering new approach to credit card churning

ponyboy wrote:member when credit card churning was fun?


Still fun for me. Chase won't give me any more cards so we switched to my wife.
by BW1985
Wed May 10, 2017 8:45 am
Forum: Personal Finance (Not Investing)
Topic: Boglehead Debt Free Scream! 174K in 53 months
Replies: 24
Views: 3411

Re: Boglehead Debt Free Scream! 174K in 53 months

That was a lot of debt! Congratulations!! :sharebeer
by BW1985
Wed May 10, 2017 8:41 am
Forum: Personal Consumer Issues
Topic: Time savers - life on automation
Replies: 57
Views: 7205

Re: Time savers - life on automation

We also have lawn service, snow removal but it's included in our townhome's HOA fee. Too busy renovating inside to have to worry about outside maintenance anyways.
by BW1985
Tue May 09, 2017 2:42 pm
Forum: Personal Finance (Not Investing)
Topic: What home improvements are worth it
Replies: 37
Views: 5315

Re: What home improvements are worth it

Yard work and kitchen. Lights can be changed for much cheaper than $500, they don't have to be recessed but that may be worth it to you over the time that you're there.
by BW1985
Tue May 09, 2017 9:34 am
Forum: Personal Consumer Issues
Topic: Time savers - life on automation
Replies: 57
Views: 7205

Re: Time savers - life on automation

Robot vacuum. Wanted to buy one. Thought I had a plan to buy a Roomba. Had a Bed Bath & Beyond 20% coupon, but the small print taketh it away. Still looking. Have learned that some newer robot vacuums are now self-emptying... I used a 20% off entire purchase BBB coupon yesterday that specifical...
by BW1985
Tue May 09, 2017 9:15 am
Forum: Personal Consumer Issues
Topic: Why is Citi giving me money?
Replies: 10
Views: 2011

Re: Why is Citi giving me money?

Just checked it out, seems pretty easy but you do have to upload your receipt. I just went through my credit card statements and couldn't find anything to use this with though so I think it's of limited benefit, to me atleast.
by BW1985
Fri May 05, 2017 11:04 am
Forum: Personal Finance (Not Investing)
Topic: How does Fidelity make money if I hold Vanguard funds in my account?
Replies: 9
Views: 1829

Re: How does Fidelity make money if I hold Vanguard funds in my account?

bloom2708 wrote:If Vanguard failed, would not your Vanguard funds at Fidelity also be offline?

I don't see much reason to diversify and move Vanguard funds to Fidelity.

To diversify, wouldn't you want Fidelity index funds at Fidelity? I would not bother trying to diversify that way.


+1. I don't get it.
by BW1985
Wed May 03, 2017 2:11 pm
Forum: Personal Finance (Not Investing)
Topic: Banking in Marriage
Replies: 66
Views: 4353

Re: Banking in Marriage

Joint checking, joint credit cards. Our paychecks go into the checking and bills come out. What's left is periodically equally distributed to each of our VG taxable accounts. Sure, there are some things that each of us spends on that the other thinks is a waste. They are small percentages of our wor...
by BW1985
Mon May 01, 2017 3:23 pm
Forum: Personal Consumer Issues
Topic: buying dining table is hard
Replies: 55
Views: 3316

Re: buying dining table is hard

It just depends on your style. I've seen houses totally IKEA furnished that look amazing IMO.
by BW1985
Mon May 01, 2017 1:55 pm
Forum: Personal Consumer Issues
Topic: buying dining table is hard
Replies: 55
Views: 3316

Re: buying dining table is hard

There are furniture stores in Houston that cover pretty much any furniture style you might want, except perhaps if you want high-end ultra-modern. Try these websites, then visit the places you like: - Ethan Allen - Crate and Barrel - West Elm - Pottery Barn - Star Furniture - Bassett Furniture - Re...
by BW1985
Mon May 01, 2017 11:53 am
Forum: Investing - Theory, News & General
Topic: Are we all forgetting our taxable accounts?
Replies: 79
Views: 9638

Re: Are we all forgetting our taxable accounts?

^I plan on doing Roth conversions but not taking contributions out of the Roth, I will use taxable instead. That said we do max tax-deferred.

Ofcourse who knows what the tax laws will look like in 10-15 years.
by BW1985
Fri Apr 28, 2017 3:30 pm
Forum: Investing - Help with Personal Investments
Topic: Time to reach 1M and 2M milestones
Replies: 143
Views: 33653

Re: Time to reach 1M and 2M milestones

Thanks for all the great responses. A related question I have is this - (1) For those who reached $1M and $2M milestones, did you become more conservative in your investing approach? (2) Did you move to a more bond/fixed-income weighted asset allocation even though you were far from retirement? Tha...
by BW1985
Fri Apr 28, 2017 11:49 am
Forum: Personal Consumer Issues
Topic: Banned from Home Depot Returns
Replies: 131
Views: 46350

Re: Banned from Home Depot Returns

In the big picture, I don't see conceptually why a business would have to honor another business's holding of inventory that may not be used. Could cause significant distress to a company. Maybe just buy less, and what one needs. In other parts of the world outside of the US, returns are very diffi...

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