Search found 903 matches

by DVMResident
Tue Jul 26, 2016 11:52 am
Forum: Personal Finance (Not Investing)
Topic: Where were you financially when you were at 30?
Replies: 222
Views: 22255

Re: Where were you financially when you were at 30?

Kind of off topic and I may start a separate thread on it, but real estate is so hot here in LA that I keep feeling like I should sell my junky expensive shack here and buy a beautiful house cash in another area (maybe out of state) and just FIRE. Wife teaches, I'll be Mr. Dad. Yes, you probably sh...
by DVMResident
Fri Jul 22, 2016 3:35 pm
Forum: Investing - Help with Personal Investments
Topic: Early retirees, how much did you leave on the table?
Replies: 180
Views: 11367

Re: Early retirees, how much did you leave on the table?

I'm curious TheTime Lord why do you ask? I left tons of money on the table by selling most of my company stake to my partners. I retired at 42 in upper middle class fashion while my partners are now in top 1/10th of 1%er territory. I left a lot on the table - 80 hour work weeks, stress, uncertainty...
by DVMResident
Thu Jul 21, 2016 12:03 am
Forum: Personal Finance (Not Investing)
Topic: Adopt my Girlfriend???
Replies: 38
Views: 6519

Re: Adopt my Girlfriend???

Not sure if this thread is a joke. Seems like a silly way to avoid a 10% inheritance tax. Is it really that much money?
Cheap, term life insurance to cover the tax liability (plus gross up) is simpler and cheaper than hiring lawyers.
by DVMResident
Thu Jul 14, 2016 4:34 pm
Forum: Personal Finance (Not Investing)
Topic: Networth = Age x Pretax income then divide by 10?
Replies: 49
Views: 6084

Re: Networth = Age x Pretax income then divide by 10?

It's silly. A MD who goes from a resident to an attending is a worse saver because her income tripled overnight? Huh? Lots of events will cause income to swing wildly: spouse transitioning to stay-at-home, promotions, commissions/sales, career changes, etc. Spending:savings rate is a much better mea...
by DVMResident
Wed Jul 13, 2016 3:06 pm
Forum: Personal Finance (Not Investing)
Topic: Landlords: Seeking advice on tenant not paying rent
Replies: 6
Views: 1082

Re: Landlords: Seeking advice on tenant not paying rent

pl28 wrote: is what I should do for his belongings


Check your local laws. Tenant laws, including holding periods, vary by state.
by DVMResident
Wed Jul 13, 2016 3:04 pm
Forum: Personal Finance (Not Investing)
Topic: Landlords: Seeking advice on tenant not paying rent
Replies: 6
Views: 1082

Re: Landlords: Seeking advice on tenant not paying rent

I would just save the lawyer fees and offer to pay him for the keys. Yes, you read that right. Give him a few hundred dollars to move out and end the lease. This usually goes a lot smoother than an eviction notice where you risk damages to the property, legal fees, etc. It's not like you're going t...
by DVMResident
Wed Jun 29, 2016 6:39 pm
Forum: Personal Finance (Not Investing)
Topic: Where were you financially when you were at 30?
Replies: 222
Views: 22255

Re: Where were you financially when you were at 30?

I could tell you, but I am an inappropriate benchmark for you. Your life, your numbers. So I'm not going to say 8-) IMO your numbers look pretty good. Read "Money Ratios" (I got a copy on Amazon for $4) to get an idea of where you should be based on age. Understand the math behind the auth...
by DVMResident
Sun Jun 26, 2016 10:40 am
Forum: Personal Finance (Not Investing)
Topic: Buy vs rent in LA
Replies: 11
Views: 1251

Re: Buy vs rent in LA

Welcome to LA. I own a rental in the area you're looking in. While no one holds a crystal ball, renting is generally better in this market. My rough guideline: ->1%/month rent:purchase price --> buy -0.5-1%/month rent:purchase price --> borderline -<0.5%/month rent:purchase price --> rent The market...
by DVMResident
Thu Jun 16, 2016 5:57 pm
Forum: Personal Finance (Not Investing)
Topic: Sell or Rent it out
Replies: 9
Views: 1151

Re: Sell or Rent it out

In my opinion the only numbers to consider are the $275k price he can get now, and $1600/mth rent. These numbers do not make for a profitable rental property. In most areas of the US you can achieve the 1% rule, meaning the monthly PITI payment is 1% of the value of the house. Some places people wi...
by DVMResident
Wed Jun 15, 2016 1:21 pm
Forum: Investing - Help with Personal Investments
Topic: 23y.o. & leaving first job w/ 401a -- Rollover to Vanguard IRA ?
Replies: 7
Views: 471

Re: 23y.o. & leaving first job w/ 401a -- Rollover to Vanguard IRA ?

It is true that some graduate school income can be considered "compensation" for the purpose of setting up an IRA. You tell if the income is earned or not by the form it's reported on: W-2 = Earned Income 1099T = Not Earned Income Which method the stipend is reported on depends on the sch...
by DVMResident
Mon Jun 13, 2016 1:15 am
Forum: Investing - Help with Personal Investments
Topic: Leave a job, and pension money on table?
Replies: 19
Views: 2256

Re: Leave a job, and pension money on table?

She may as well start looking now.

Depending on her profession, the demand for her skill set, and your geographical and salary requirements, it may 2 years to find the job she's looking her. If she gets a real offer in hand that meets her standards, she can make the choice then.
by DVMResident
Thu Jun 09, 2016 2:01 pm
Forum: Personal Finance (Not Investing)
Topic: Are Rentals As Bad As Some Make Them Out To Be?
Replies: 66
Views: 5587

Re: Are Rentals As Bad As Some Make Them Out To Be?

The cashflow from rentals allows me to max out my investments and still have money to live a regular life. ^ +1. The utility of the cash-flow is worth mentioning. In our case, the rental allows the DW to stay home with the kid while we simultaneously save 30% gross. It's a hugely positive impact on...
by DVMResident
Wed Jun 08, 2016 5:47 pm
Forum: Personal Finance (Not Investing)
Topic: Are Rentals As Bad As Some Make Them Out To Be?
Replies: 66
Views: 5587

Re: Are Rentals As Bad As Some Make Them Out To Be?

The learning curve on taxes, laws, and tenant screen are steep. After a couple years it all becomes second nature. I spend <1 hour most months. Every now and again, I have to call a plumber, he fixes the problem, sends me a bill, and mail him a check (old school). Every few years per unit, I have tu...
by DVMResident
Fri Jun 03, 2016 6:04 pm
Forum: Investing - Theory, News & General
Topic: "6 Reasons The Rich Should Pay-Off Their Mortgage"
Replies: 76
Views: 9756

Re: "6 Reasons The Rich Should Pay-Off Their Mortgage"

#6) The author fails to consider the liquidity risk associated and subsequent costs of tapping home equity. HELOC? Not cheap. That said, sure, a paid off house is one road to FI. Not the road I'm choosing because I like liquidity, but no debt certainly is a good option. Many roads for many people. H...
by DVMResident
Tue May 31, 2016 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Sell Rental to Pay Off House?
Replies: 23
Views: 1853

Re: Sell Rental to Pay Off House?

I sold my rentals (2 single family houses) last year. I don't miss them and have zero plans to buy rental real estate again. I'm there with you, once my current tenants move out I am going to sell my rental. It is nice having it, but not worth the hassle. Same plan here. Current tenants are really ...
by DVMResident
Tue May 31, 2016 10:28 am
Forum: Personal Finance (Not Investing)
Topic: Sell Rental to Pay Off House?
Replies: 23
Views: 1853

Re: Sell Rental to Pay Off House?

Wait, are you loosing $150 a month I this property? Ouch. Maybe it's worth refinancing to get cash flow then. That's ($150)/mo cash-flow. That's very different than loosing money. I'd ballpark his mortgage principle payment at this point is about $1.2k/mo. So the OP is 'paying' $150/mo for $1.2k/mo...
by DVMResident
Tue May 31, 2016 12:19 am
Forum: Personal Finance (Not Investing)
Topic: Sell Rental to Pay Off House?
Replies: 23
Views: 1853

Re: Sell Rental to Pay Off House?

How close to retirement? I would be tempted to sell this one unless you can hold out for a low-income in the very near future. Now, I probably wouldn't pay off the primary house with the proceeds, but there have been many threads on paying off houses at low interest rates. It's a preference choice a...
by DVMResident
Fri May 27, 2016 10:34 am
Forum: Investing - Help with Personal Investments
Topic: US REIT P/E seem high - buy anyway for diversification?
Replies: 39
Views: 2371

Re: US REIT P/E seem high - buy anyway for diversification?

KyleAAA suggests using P/FFO instead. My understanding is that this would make the REIT sector look more attractive, but also sounds a little bit like what someone selling REITs would use to measure their valuation... KayleAAA is right. The accounting of depreciation causes problems with the E port...
by DVMResident
Thu May 26, 2016 11:10 am
Forum: Personal Finance (Not Investing)
Topic: How did you educate your kids on finances
Replies: 32
Views: 2528

Re: How did you educate your kids on finances

Financial literacy education road map for children by age:
http://moneyasyougrow.org/
by DVMResident
Thu May 26, 2016 12:30 am
Forum: Personal Finance (Not Investing)
Topic: Is Real Estate Market going crazy again?
Replies: 101
Views: 10219

Re: Is Real Estate Market going crazy again?

A friend just sold their house in a certain neighborhood near me. They received (and accepted) a cash offer from investors. Instead of an appraiser, the buyers sent over a contractor to estimate the cost of renovating it to rent out. The contractor said that this was the 12th house of the same floo...
by DVMResident
Mon May 23, 2016 5:46 pm
Forum: Investing - Help with Personal Investments
Topic: How much money do you keep in your regular checking/savings?
Replies: 104
Views: 12354

Re: How much money do you keep in your regular checking/savings?

~$10k We have a rental and a large cash-flux in (rents) and out (mortgage, our own rent to pay). Just basic liquidity plus enough buffer to not risk overdrawing. The ~$100/year I give up to keep have everything historically linked hasn't overcome my inertia/laziness to move the account. The real sav...
by DVMResident
Sun May 22, 2016 12:37 pm
Forum: Personal Consumer Issues
Topic: Beverages [Flavored carbonated water]
Replies: 8
Views: 818

Re: Beverages [Flavored carbonated water]

We have a Soda Stream and love it. We got the one with glass bottles, which are more expensive, but IMO tastes better. The bottles stay pre-chilled in the fridge and bring them out nightly for dinner. For flavor, we add fruit slices, typically lime, into each glass. The sell flavor additives, but I ...
by DVMResident
Fri May 20, 2016 11:50 am
Forum: Personal Finance (Not Investing)
Topic: Tenants Moving Out - Sell or Keep Renting (Still in Capital Gain Exclusion)
Replies: 9
Views: 754

Re: Tenants Moving Out - Sell or Keep Renting (Still in Capital Gain Exclusion)

Some specific questions: - I actually only lived in the house for 20 months, but I understand the up-to-$250k capital gain exclusion is still prorated relative to 24 months. Does this mean my ~$65k gain exclusion would be prorated, or is only the maximum prorated (meaning the $250k would be prorate...
by DVMResident
Wed May 18, 2016 6:41 pm
Forum: Investing - Theory, News & General
Topic: Fidelity Spartan Funds - name changes
Replies: 55
Views: 6950

Re: Fidelity Spartan Funds - name changes

To me, this sounds like Spartan funds are losing their names. :? Looking for "Spartan" keyword was a good way to identify funds with lower ER at Fidelity. I liked the Spartan name, that made it easy to locate their low ER index funds on the Fidelity website. Taking "Spartan" out...
by DVMResident
Sun May 15, 2016 10:43 am
Forum: Personal Finance (Not Investing)
Topic: High Earner $150k/yr. Single VS Married with Kids Take Home Salary??? Help!
Replies: 40
Views: 4646

Re: High Earner $150k/yr. Single VS Married with Kids Take Home Salary??? Help!

Your taxes will be lower. You will now use the married, joint filling income brackets, which are much kinder to single income families than unmarried individuals or dual income families. In addition, many of the phase outs will be much higher. Your family will also have access to spousal IRA. And 2 ...
by DVMResident
Fri May 13, 2016 1:16 pm
Forum: Investing - Help with Personal Investments
Topic: What happens if I contribute excess after tax 401k?
Replies: 17
Views: 1078

Re: What happens if I contribute excess after tax 401k?

And, the current budget proposal is to eliminate backdoor Roths. Not likely this year, but it's on their radar screen. L. :shock: Link? Hmm, we use backdoor mechanisms, but don't need to maximize all tax advantaged space. I may want to maximize retirement accounts change by sacrificing non-retireme...
by DVMResident
Wed May 11, 2016 4:51 pm
Forum: Personal Finance (Not Investing)
Topic: Renting vs owning
Replies: 141
Views: 15433

Re: Renting vs owning

The problem I have with renting is after 30 years of renting, you move and walk away with nothing. To make it worse, they will likely find a way to keep your security deposit too. When you buy, after 30 years, you own that house and have much equity. To me, owning is the better way. The major advan...
by DVMResident
Wed May 11, 2016 10:31 am
Forum: Personal Finance (Not Investing)
Topic: Career Finance vs Social Work
Replies: 21
Views: 3292

Re: Career Finance vs Social Work

want to earn more...look for something else perhaps in social work? These two things do not match. Social workers are an amazing group that produce miracles with limited resources. Wife is a LCSW. It varies by state, but took her 5 years post-grad to get and that seems typical for her school mates....
by DVMResident
Wed May 11, 2016 9:41 am
Forum: Investing - Theory, News & General
Topic: End of Golden Era for Investors...?
Replies: 58
Views: 8809

Re: End of Golden Era for Investors...?

Leeraar wrote:I don't have to run faster than the bear [market], I just have to run faster than you?

L. :)


Ha!! Love it. So punny, my friend :beer
by DVMResident
Tue May 10, 2016 11:57 pm
Forum: Investing - Theory, News & General
Topic: End of Golden Era for Investors...?
Replies: 58
Views: 8809

Re: End of Golden Era for Investors...?

I have a different take: low returns don't matter because your dollar value doesn't matter. Your purchasing power is what matters. If index returns lag, everyone has less nominal dollars and that is (semi)-independent from supply. Decreased money in the system means lower prices for goods and servic...
by DVMResident
Tue May 10, 2016 11:27 pm
Forum: Personal Finance (Not Investing)
Topic: Renting vs owning
Replies: 141
Views: 15433

Re: Renting vs owning

The problem I have with renting is after 30 years of renting, you move and walk away with nothing. To make it worse, they will likely find a way to keep your security deposit too. When you buy, after 30 years, you own that house and have much equity. To me, owning is the better way. The major advan...
by DVMResident
Fri Apr 29, 2016 11:41 am
Forum: Personal Finance (Not Investing)
Topic: Renting vs owning
Replies: 141
Views: 15433

Re: Renting vs owning

The problem I have with renting is after 30 years of renting, you move and walk away with nothing. To make it worse, they will likely find a way to keep your security deposit too. When you buy, after 30 years, you own that house and have much equity. To me, owning is the better way. The major advan...
by DVMResident
Thu Apr 28, 2016 3:08 pm
Forum: Personal Finance (Not Investing)
Topic: Saving Too Much in Retirement Accounts?
Replies: 35
Views: 4996

Re: Saving Too Much in Retirement Accounts?

There's more than one road to FI. Your friend is building a RE business (which may or may not be sound). He is a landlord with tenants. He is also probably using leverage in the form of a mortgage. He is building income from rental cash-flows. Note, this is very different than the consumption act of...
by DVMResident
Thu Apr 28, 2016 12:33 pm
Forum: Personal Consumer Issues
Topic: Car Seat for vacation car rental
Replies: 24
Views: 1283

Re: Car Seat for vacation car rental

Most airlines let you check the car seat for free. Tip: get a car seat bag. It protects the seat and you can load extra stuff in it for a free trip. We stick the diapers, wipes, and toys into the car seat bag. Car seats are heavy and difficult to carry in addition to normal luggage. Our first trip w...
by DVMResident
Mon Apr 25, 2016 5:07 pm
Forum: Personal Finance (Not Investing)
Topic: Have any of you overextended on housing? What were your experiences?
Replies: 42
Views: 4045

Re: Have any of you overextended on housing? What were your experiences?

I think you have to balance not getting what you want and the (obviously) high transaction costs of upgrading in the not to distant future with the stress and financial ruin overbuying can bring. +1 There is wisdom in avoiding the "penny wise, pound foolish" mentality. A small stretch can...
by DVMResident
Mon Apr 25, 2016 2:50 pm
Forum: Personal Finance (Not Investing)
Topic: Have any of you overextended on housing? What were your experiences?
Replies: 42
Views: 4045

Re: Have any of you overextended on housing? What were your experiences?

I'll share our non-traditional tactic for consideration. 2012. We purchased a house that was 4.6x our combined income with 10% down, far above the recommended 2-3x. Rents were rising fast as were RE prices (most home selling way over list). Usually, the PITI would have been 30.7% of our gross. We kn...
by DVMResident
Thu Apr 21, 2016 7:35 pm
Forum: Personal Consumer Issues
Topic: Any stay at home parents regret the decision?
Replies: 100
Views: 10949

Re: Any stay at home parents regret the decision?

I changed jobs and moved ~120 miles when DW was 7 months pregnant. That was just over 2 years ago. She's enjoyed the time and it definitely is easier from a practical stand point -- although YMMV widely depending on personalities. I could not have done the reverse. The first six months are really ro...
by DVMResident
Mon Apr 18, 2016 9:00 pm
Forum: Investing - Help with Personal Investments
Topic: How to suggest an increase in the 401k match?
Replies: 9
Views: 1284

Re: How to suggest an increase in the 401k match?

You could pitch it as a long term retention plan. Design the match with a laddered vesting schedule over a number of years, e.g. 3% with 0.5% vesting per year for 6 years and full vest for all employees with 6 years of service. Estimate the cost. Cite some study showing retention increases. Then est...
by DVMResident
Mon Apr 18, 2016 2:30 pm
Forum: Personal Consumer Issues
Topic: Laptop - Touch Screen?
Replies: 22
Views: 1663

Re: Laptop - Touch Screen?

Depends on your needs. If your just doing office and internet functions, Dell XPS 13 is probably one of the highest quality, portable windows machines with a touch screen these days. Here's a list of the current top 10 windows ultrabooks: http://www.notebookcheck.net/Notebookcheck-s-Top-10-Ultrabook...
by DVMResident
Mon Apr 18, 2016 2:24 pm
Forum: Personal Consumer Issues
Topic: Laptop - Touch Screen?
Replies: 22
Views: 1663

Re: Laptop - Touch Screen?

I've found the touchscreen laptops to be more hassle than they're worth. For me, a touchscreen is really only useful on a tablet. The laptops that "convert" into a tablet-like device (like the Yoga) are more gimmicks than anything. I'd say either go pure laptop or pure tablet. Agreed 100%...
by DVMResident
Sat Apr 16, 2016 5:32 pm
Forum: Personal Finance (Not Investing)
Topic: MATH of buying vs renting
Replies: 4
Views: 699

Re: MATH of buying vs renting

Comparing a 3BR house to a 1BR apartment is misleading. They each provide you a very different lifestyle.
A better comparison would be a 1BR condo vs a 1BR apt.
by DVMResident
Fri Apr 15, 2016 4:37 pm
Forum: Investing - Help with Personal Investments
Topic: After-tax 401k in-service withdrawal to Roth IRA vs direct Roth IRA+Taxable contributions
Replies: 10
Views: 585

Re: After-tax 401k in-service withdrawal to Roth IRA vs direct Roth IRA+Taxable contributions

have your wife put $5500 into a tIRA Since the IRA contributions wont be deductible for both of us, I thought Roth was better. Is tIRA still better for her? See http://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits. If I read your post correctly, your wife may deduct her tIRA contribution becaus...
by DVMResident
Fri Apr 15, 2016 12:07 am
Forum: Personal Finance (Not Investing)
Topic: Meeting with a Fidelity Financial planner, is it useful?
Replies: 39
Views: 4010

Re: Meeting with a Fidelity Financial planner, is it useful?

I met with one. It was really useful because the planner had more information about company compensation bands and average raises than is available to the employees or even my manager (who's pretty chatty about this stuff). That was useful from a career stand point. Their Fidelity related stuff was ...
by DVMResident
Fri Apr 08, 2016 9:51 am
Forum: Personal Finance (Not Investing)
Topic: First time home buyer - Can I afford this home?
Replies: 38
Views: 3734

Re: First time home buyer - Can I afford this home?

You can afford it.

Personally, I wouldn't purchase until DW gets a job. There's no reason to limit her career prospects by fixing your location before you need the extra space.
by DVMResident
Thu Apr 07, 2016 1:52 pm
Forum: Investing - Help with Personal Investments
Topic: Foxbusiness: Why Taxes, Not Fees are Retirement Savers' Biggest Enemy
Replies: 32
Views: 3566

Re: Foxbusiness: Why Taxes, Not Fees are Retirement Savers' Biggest Enemy

Taxes and high fees can be, and often are, on a similar order of impact. Long-term capitals are 15% +/- state plus taxes on dividends. Let's ballpark it at a 20% effective rate on realized gains (YMMV, of course-oversimplified example). Fees are in the same ballpark. Let's pretend nominal returns g...
by DVMResident
Thu Apr 07, 2016 1:11 pm
Forum: Investing - Help with Personal Investments
Topic: Foxbusiness: Why Taxes, Not Fees are Retirement Savers' Biggest Enemy
Replies: 32
Views: 3566

Re: Foxbusiness: Why Taxes, Not Fees are Retirement Savers' Biggest Enemy

Taxes and high fees can be, and often are, on a similar order of impact. Long-term capitals are 15% +/- state plus taxes on dividends. Let's ballpark it at a 20% effective rate on realized gains (YMMV, of course-oversimplified example). Fees are in the same ballpark. Let's pretend nominal returns go...
by DVMResident
Fri Apr 01, 2016 2:45 pm
Forum: Personal Finance (Not Investing)
Topic: Renting forever: financial suicide?
Replies: 135
Views: 21335

Re: Renting forever: financial suicide?

I plan to rent as long as I live in this HCOL city. While there are areas I could afford a single family house, we could only afford a condo where we currently live (and where my wife and I enjoy living and wish to stay). According to trulia's rent vs own calculator trulia.com/rent_vs_buy for us re...
by DVMResident
Fri Apr 01, 2016 10:16 am
Forum: Personal Finance (Not Investing)
Topic: Clothing budget for DVM's, MD's, and other kinds of Medical Professionals
Replies: 38
Views: 3313

Re: Clothing budget for DVM's, MD's, and other kinds of Medical Professionals

Most people aren't impressed by clothing I'll disagree here. For the first decade after graduating you'll get the question "are you old enough to be a doctor?" People in their 70's have difficulty distinguishing between a 20 year old and 30 year old. Professional appearance helps communic...
by DVMResident
Mon Mar 28, 2016 7:33 pm
Forum: Personal Finance (Not Investing)
Topic: Clothing budget for DVM's, MD's, and other kinds of Medical Professionals
Replies: 38
Views: 3313

Re: Clothing budget for DVM's, MD's, and other kinds of Medical Professionals

Male veterinarian. Not in private practice and didn't bothered adding it up when I was. Dark tan/khaki pants are the best color for pants. Black pants pick up white fur and white pants pickup the black fur. Lint rollers are your friend. You'll go through 1 roll every ~2 days. Best way to stay clean ...
by DVMResident
Mon Mar 28, 2016 4:57 pm
Forum: Investing - Theory, News & General
Topic: No Intl. DM, Just Intl. EM? [International Developed Markets, Emerging Markets]
Replies: 23
Views: 2007

Re: No Intl. DM, Just Intl. EM?

Threads on Larry's "No Fat Tails" portfolio goes into the EM only concept quite a bit.

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