Search found 1397 matches

by EnjoyIt
Wed Feb 21, 2018 2:38 am
Forum: Personal Finance (Not Investing)
Topic: Giving up on first home
Replies: 23
Views: 1779

Re: Giving up on first home

It seems like you've been brain-washed in to buying a house. Walk away. Home ownership isn't all it's cracked up to be anyway AND it is a time and energy sucking endeavor. I agree, the American dream of owning a home is not necessary for a good and happy life. Owning a home is adding responsibility...
by EnjoyIt
Mon Feb 19, 2018 2:57 am
Forum: Investing - Theory, News & General
Topic: How many of you use the "4% rule" during retirement?
Replies: 62
Views: 7312

Re: How many of you use the "4% rule" during retirement?

If we only had SS and Stock/Bonds, for retirement, a common sense would be ONLY withdraw a minimum amount out of the S/B portfolio because it is Variable. And to continue to withdraw a minimum amount until you are "reasonably" certain that you withdraw a sustainable amount for your lifetime. . . . ...
by EnjoyIt
Mon Feb 19, 2018 2:19 am
Forum: Personal Finance (Not Investing)
Topic: Advice for DIY bookkeeping for S-Corp owner? Software/ systems?
Replies: 2
Views: 278

Re: Advice for DIY bookkeeping for S-Corp owner? Software/ systems?

I have tried to work with accountants and bookkeepers before for the past few years but they all seem super-flakey and just fall off the face of the earth whenever I email them and ask them questions. I'm thinking about doing bookkeeping + taxes myself, but I tried Quickbooks online once at advice ...
by EnjoyIt
Fri Feb 16, 2018 6:14 pm
Forum: Investing - Theory, News & General
Topic: Buying and Spending Bitcoin
Replies: 194
Views: 23156

Re: Buying and Spending Bitcoin

As Greyfox noted, Bitcoin was designed and up to maybe 2015 universally presented as a practical payment system, not a base technology on which others could build a practical payment system someday. It was supposed to directly compete with credit cards and PayPal online. What little real-world expo...
by EnjoyIt
Fri Feb 16, 2018 5:17 pm
Forum: Investing - Theory, News & General
Topic: How many of you use the "4% rule" during retirement?
Replies: 62
Views: 7312

Re: How many of you use the "4% rule" during retirement?

I would think that those who spent their whole life living below their means while working will continue doing so in retirement. I would think if one retires with the expectation of 4% one will likely spend less due to habit and personality.
by EnjoyIt
Thu Feb 15, 2018 2:32 pm
Forum: Personal Consumer Issues
Topic: What big item (>20k) are you saving up for?
Replies: 117
Views: 8367

Re: What big item (>20k) are you saving up for?

We have saved up a chunk of cash for a home remodel. We have also saved up cash for car purchases. Currently looking to save up a for a possible dedicated track car. I will decide in the next 3 months if that is definitely a go. Personally I do not like taking out loans for things I believe I should...
by EnjoyIt
Thu Feb 15, 2018 2:28 pm
Forum: Personal Consumer Issues
Topic: What big item (>20k) are you saving up for?
Replies: 117
Views: 8367

Re: What big item (>20k) are you saving up for?

Patek Philippe for sure ... Just kidding. I do love mechanical watches but right now not saving much for anything. Do like to travel a fair amount, but don’t blow anywhere close to 20k on any one trip (maybe over two or three years of 7-10 trips a year, mostly weekend jaunts). Not saving up for it,...
by EnjoyIt
Thu Feb 15, 2018 2:23 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16652

Re: Number at which to stop worrying

I don't know, maybe I'd slow down at $20 million. Probably not though. To me financial freedom means you can do whatever you want whenever you want without worrying about money. My aspirations of retirement aren't being able to buy a used truck, stay at the Holiday Inn, and take a Royal Caribbean c...
by EnjoyIt
Thu Feb 15, 2018 1:07 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16652

Re: Number at which to stop worrying

I stopped worrying about finances when we accumulated enough that if we saved $0 additional dollars compound interest alone would get us there. That number also means that if we move into a smaller home and cut our expenses we can retire today. Funny enough, now I am worrying again. The mortgage is...
by EnjoyIt
Wed Feb 14, 2018 4:19 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16652

Re: Number at which to stop worrying

I stopped worrying about finances when we accumulated enough that if we saved $0 additional dollars compound interest alone would get us there. That number also means that if we move into a smaller home and cut our expenses we can retire today. We were at the same point last year. I stopped worryin...
by EnjoyIt
Mon Feb 12, 2018 9:10 pm
Forum: Personal Finance (Not Investing)
Topic: Number at which to stop worrying
Replies: 170
Views: 16652

Re: Number at which to stop worrying

I stopped worrying about finances when we accumulated enough that if we saved $0 additional dollars compound interest alone would get us there. That number also means that if we move into a smaller home and cut our expenses we can retire today. That number also means we can go part time starting tod...
by EnjoyIt
Mon Feb 12, 2018 12:32 pm
Forum: Personal Consumer Issues
Topic: I’m not renewing my Costco membership.
Replies: 80
Views: 7104

Re: I’m not renewing my Costco membership.

We go to Costco about 10-14 times a year. Our biggest savings comes from cheese. Plus they have a excellent selection of grapes and blueberries in our area. The quality is usually better than the supermarket although the price is about the same. same thing for a few caned goods. I would keep my memb...
by EnjoyIt
Sat Feb 10, 2018 8:45 pm
Forum: Investing - Help with Personal Investments
Topic: 4% rule and early retirement?
Replies: 69
Views: 8241

Re: 4% rule and early retirement?

Is there research / recommendations on the 4% safe withdrawal rule and early retirement? If I understand correctly the 4% rule was done with a 30-year time horizon. What happens if one has potentially 40 or 50 years in retirement? The 4% rule still applies? As you can see by the various answers the...
by EnjoyIt
Fri Feb 09, 2018 8:37 pm
Forum: Personal Consumer Issues
Topic: Who has had a pool?
Replies: 79
Views: 4097

Re: Who has had a pool?

I have an in-ground pool. It's a waste of money, you should invest the money in a balanced fund instead. :) I am serious, if I could go back and not do the pool, I would. I've threatened to fill it in, but my wife won't let me. I will say the 4 or 5 times we use it a year, it's ok, but I'd rather h...
by EnjoyIt
Fri Feb 09, 2018 8:29 pm
Forum: Personal Finance (Not Investing)
Topic: NYC Taxes for Surgical Resident
Replies: 78
Views: 3592

Re: NYC Taxes for Surgical Resident

For the first 4 months you will not be an official resident of NYC and I do not think you will need to pay NYC taxes. . . . and you would be wrong. :oops: The question asked in this thread is not a matter of opinion. Please explain how the above statement is wrong. OP will not be a resident of NYC ...
by EnjoyIt
Fri Feb 09, 2018 12:25 pm
Forum: Personal Finance (Not Investing)
Topic: NYC Taxes for Surgical Resident
Replies: 78
Views: 3592

Re: NYC Taxes for Surgical Resident

At the very least, you'll have to pay taxes on the days you work there, and the apartment could get you in trouble. A hotel, sublet or airbnb might help the case that you're not a part time resident. There are firms that specialize in these issues, but given the type of clientele that needs them, I...
by EnjoyIt
Thu Feb 08, 2018 12:06 pm
Forum: Personal Finance (Not Investing)
Topic: free dinner investing seminar
Replies: 245
Views: 15637

Re: free dinner investing seminar

I use opportunities of poor salesmen to educate the spouse on personal finance. A dinner like this might provide lots of educational topics.
by EnjoyIt
Thu Feb 08, 2018 11:42 am
Forum: Personal Finance (Not Investing)
Topic: Leaving HCOL state for financial reasons
Replies: 48
Views: 4839

Re: Leaving HCOL state for financial reasons

We made this move 9 years ago and it has been one of the best decisions for us. We moved from NY to a MCOL area. Here my wages are higher and taxes are much lower. Due to this move we can retire in about 2-3 more years in my early 40s. Actually we will likely just go part time because we both like w...
by EnjoyIt
Tue Feb 06, 2018 1:15 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 5576
Views: 1262515

Re: U.S. stocks in freefall

Crushtheturtle wrote:
Tue Feb 06, 2018 4:09 am
Looks like I picked the wrong week to stop drinking.
Looks like I picked the wrong week to stop sniffing glue.
by EnjoyIt
Mon Feb 05, 2018 10:32 am
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

It is NOT true that physician incomes are going down. Like most highly paid professionals, physicians have seen their incomes go up consistently over the years. It absolutely IS true. Your dishonesty is reckless. Wow. Try facts instead of insults Or at least in addition to the insults. Or cite your...
by EnjoyIt
Sun Feb 04, 2018 12:11 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

Without a doubt after finishing a residency I think working in medicine is probably one of the most secure professions available. No market downturn or econonomic crisis will ever diminish people getting sick and requiring care.
by EnjoyIt
Sat Feb 03, 2018 6:10 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

Ok, let's do some math. $200k a year. Let's pull out 20% for retirement since we are good bogleheads. Now we have $160k. Unless we live in one of the few no state tax states we are looking at about 33% going to state, federal, social security, and Medicare tax. We are now down to 107K. School loans...
by EnjoyIt
Sat Feb 03, 2018 1:18 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

I would imagine that in most locations in the U.S. doctors are some of the most well compensated individuals. Different specialities pay more/less but on a whole it seems like an MD is a fairly safe bet to a very well paying/safe job irrespective of where you decide to live. In most cases you are c...
by EnjoyIt
Sat Feb 03, 2018 1:16 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

I would imagine that in most locations in the U.S. doctors are some of the most well compensated individuals. Different specialities pay more/less but on a whole it seems like an MD is a fairly safe bet to a very well paying/safe job irrespective of where you decide to live. In most cases you are c...
by EnjoyIt
Sat Feb 03, 2018 12:56 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 5576
Views: 1262515

Re: U.S. stocks in freefall

If you bought a 500 fund at the S&P500 peak in 2000, and you had the intention of holding, you wouldn't start making money on it until 2013. Tell me why I should put money in now on an insane looking peak, amidst deregulation, growing income inequality, and growing interest rates... In other words,...
by EnjoyIt
Sat Feb 03, 2018 12:33 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

I would imagine that in most locations in the U.S. doctors are some of the most well compensated individuals. Different specialities pay more/less but on a whole it seems like an MD is a fairly safe bet to a very well paying/safe job irrespective of where you decide to live. In most cases you are c...
by EnjoyIt
Fri Feb 02, 2018 12:08 am
Forum: Investing - Help with Personal Investments
Topic: Q. solo 401k
Replies: 36
Views: 1448

Re: Q. solo 401k

As stated, you do not need profits to open a solo 401(k), but you cannot contribute to it in that case. :) You are right, but you have to be qualified to open it. You can't just claim that you are self-employed. technically, yes, all you have to do is claim you have a business. If my memory serves ...
by EnjoyIt
Fri Feb 02, 2018 12:06 am
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

I am also very curious how common it is for an FP doc to make $500k/yr in an ED without working some ridiculous overtime. There are very few places in the US that a board certified ED doc can make that kind of money. According to the 2015 Daniel Sterns Salary Survey of emergency physicians $500K is...
by EnjoyIt
Thu Feb 01, 2018 11:50 pm
Forum: Investing - Help with Personal Investments
Topic: Q. solo 401k
Replies: 36
Views: 1448

Re: Q. solo 401k

As stated, you do not need profits to open a solo 401(k), but you cannot contribute to it in that case. :) You are right, but you have to be qualified to open it. You can't just claim that you are self-employed. technically, yes, all you have to do is claim you have a business. If my memory serves ...
by EnjoyIt
Thu Feb 01, 2018 11:36 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

The stakes are very high at the numbers now. Upward of $85k per year to attend medical school. Remember, you have to borrow ALL living expenses for 4 years since school is year round for most of the 4 years. What many do not realize is that you may not be able to choose your specialty. If you want ...
by EnjoyIt
Thu Feb 01, 2018 9:21 pm
Forum: Investing - Help with Personal Investments
Topic: Q. solo 401k
Replies: 36
Views: 1448

Re: Q. solo 401k

but I do believe I have to have business for profit. Right? Otherwise, anybody can open solo401k. You do not need profits to open a solo401k all you need is a business. You need profits to be able to fund 20% of said profits up to $55k into a solo401k. Unless you also have a 401k though an employer...
by EnjoyIt
Thu Feb 01, 2018 9:18 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

One of my med school roommates was unable to finish school. He accumulated well over $100k in debt and failed out.

Generally speaking if a physician isn't financially illiterate and able to make a decent income they should be able to pay down their debt. Even if it takes them 20-30 years.
by EnjoyIt
Thu Feb 01, 2018 9:16 pm
Forum: Personal Finance (Not Investing)
Topic: How risky is Med school student loan debt?
Replies: 151
Views: 9323

Re: How risky is Med school student loan debt?

The stakes are very high at the numbers now. Upward of $85k per year to attend medical school. Remember, you have to borrow ALL living expenses for 4 years since school is year round for most of the 4 years. What many do not realize is that you may not be able to choose your specialty. If you want ...
by EnjoyIt
Thu Feb 01, 2018 6:43 pm
Forum: Investing - Help with Personal Investments
Topic: Q. solo 401k
Replies: 36
Views: 1448

Re: Q. solo 401k

you do not need to be incorporated to have a solo401k. but I do believe I have to have business for profit. Right? Otherwise, anybody can open solo401k. You do not need profits to open a solo401k all you need is a business. You need profits to be able to fund 20% of said profits up to $55k into a s...
by EnjoyIt
Wed Jan 31, 2018 5:09 pm
Forum: Investing - Help with Personal Investments
Topic: Q. solo 401k
Replies: 36
Views: 1448

Re: Q. solo 401k

you do not need to be incorporated to have a solo401k. but I do believe I have to have business for profit. Right? Otherwise, anybody can open solo401k. You do not need profits to open a solo401k all you need is a business. You need profits to be able to fund 20% of said profits up to $55k into a s...
by EnjoyIt
Wed Jan 31, 2018 5:05 pm
Forum: Personal Finance (Not Investing)
Topic: Should I stop contributing to 401(k) to pay off debt
Replies: 44
Views: 2436

Re: Should I stop contributing to 401(k) to pay off debt

...the sooner I pay it off, the quicker I will have some wiggle room in my budget. ... I am 44 and I make about $130K-$140K a year. ... The hard floor on my monthly budget including all living expenses and debt payments is $4000. Semi-discretionary expenses take it up to about $5500 per month. Assu...
by EnjoyIt
Wed Jan 31, 2018 4:39 pm
Forum: Investing - Help with Personal Investments
Topic: Q. solo 401k
Replies: 36
Views: 1448

Re: Q. solo 401k

you do not need to be incorporated to have a solo401k.
by EnjoyIt
Wed Jan 31, 2018 4:29 pm
Forum: Personal Finance (Not Investing)
Topic: Should I stop contributing to 401(k) to pay off debt
Replies: 44
Views: 2436

Re: Should I stop contributing to 401(k) to pay off debt

...the sooner I pay it off, the quicker I will have some wiggle room in my budget. ... I am 44 and I make about $130K-$140K a year. ... The hard floor on my monthly budget including all living expenses and debt payments is $4000. Semi-discretionary expenses take it up to about $5500 per month. Assu...
by EnjoyIt
Wed Jan 31, 2018 3:48 pm
Forum: Personal Finance (Not Investing)
Topic: Disney visit
Replies: 28
Views: 3458

Re: Disney visit

May I ask how old the kids are? I only ask because if you have anyone that is too small to walk for 4-5 miles a day or you are forced to push around in a stroller I don't think this is the best use of your limited vacation time. The really young kids get very cranky quickly, the parents get frustrat...
by EnjoyIt
Wed Jan 31, 2018 3:37 pm
Forum: Personal Consumer Issues
Topic: New car - how much can we afford?
Replies: 78
Views: 5554

Re: New car - how much can we afford?

You could easily afford $50-100k. Get a nice new car for the family. 30 years old saving $60k a year and $550k in assets and you want to buy a nice second hand car. You could buy a new $50k Lexus/Audi and be just fine. This board is too much sometimes lol. The above is horrible advice. Just because...
by EnjoyIt
Tue Jan 30, 2018 11:41 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another "cash v. mortgage" question
Replies: 20
Views: 1742

Re: Yet another "cash v. mortgage" question

a) If you get unlucky and get a modest 10% decline in the portfolio the first year then it would be down to $90K b) You would also need to pay the $500 a month mortgage($6,000) so your portfolio would be down to $84K c) To break even the next year you would need to gain back the $16K and another $6...
by EnjoyIt
Tue Jan 30, 2018 11:33 pm
Forum: Investing - Theory, News & General
Topic: U.S. stocks in freefall
Replies: 5576
Views: 1262515

Re: U.S. stocks in freefall

If it's troubled water ahead, just be careful what you wish for. Nope, not worried. Stay the course. I have a 50-year horizon. If it dropped 50% tomorrow and I lost my job, we’d still be fine for years. I'm admittedly a total novice, but I don't understand the long-term perspective when it comes to...
by EnjoyIt
Tue Jan 30, 2018 10:53 pm
Forum: Personal Finance (Not Investing)
Topic: Yet another "cash v. mortgage" question
Replies: 20
Views: 1742

Re: Yet another "cash v. mortgage" question

a) If you get unlucky and get a modest 10% decline in the portfolio the first year then it would be down to $90K b) You would also need to pay the $500 a month mortgage($6,000) so your portfolio would be down to $84K c) To break even the next year you would need to gain back the $16K and another $6...
by EnjoyIt
Tue Jan 30, 2018 6:26 pm
Forum: Personal Finance (Not Investing)
Topic: $100k+ Credit Card Spend Per Year: What card offers the best return?
Replies: 44
Views: 4575

Re: $100k+ Credit Card Spend Per Year: What card offers the best return?

So there are a few hoops, but if you have the Schwab Amex Platinum and the Schwab Blue Business you get 2 MR per dollar spent and one MR is 1.25 cents when transferred to Schwab. You can transfer this into a Roth IRA and not count it toward the $5500 Roth threshold because it isn't considered dolla...
by EnjoyIt
Mon Jan 29, 2018 11:54 am
Forum: Personal Finance (Not Investing)
Topic: Yet another "cash v. mortgage" question
Replies: 20
Views: 1742

Re: Yet another "cash v. mortgage" question

If you plan to just sell bonds then buying the mortgage outright is the mathematically better option. Yes your portfolio will be more risky, but over the next few years you will replenish your bond portion and be back to 50/50 If you plan on keeping your 50/50 asset allocation then you will be force...
by EnjoyIt
Mon Jan 29, 2018 11:05 am
Forum: Personal Finance (Not Investing)
Topic: The biggest problem in retirement is spending (not)
Replies: 118
Views: 10255

Re: The biggest problem in retirement is spending (not)

I don’t spend because I may need my investments to cover long term care. My mom needed LTC for 12 years, and one great Aunt needed it for 17 years, and another more than 20. All suffered from Alzheimer’s and had no other health issues. Similar experience - mother in law: 24 years of LTC due to stro...
by EnjoyIt
Sun Jan 28, 2018 1:12 pm
Forum: Investing - Help with Personal Investments
Topic: Retirement Taxes
Replies: 17
Views: 1438

Re: Retirement Taxes

This would seem an optimum time to give appreciated stock, not cash, assuming you have appreciated stock/mutual funds in after tax accounts. Ralph This right here is what I would do. Donate appreciated shares. If you plan on doing even more donations in the future it may be worthwhile for you to op...
by EnjoyIt
Sun Jan 28, 2018 1:04 pm
Forum: Personal Consumer Issues
Topic: Still using a 5 year old iphone 5. Who's with me? No new phones!!!
Replies: 151
Views: 8520

Re: Still using a 5 year old iphone 5. Who's with me? No new phones!!!

Ya I’m on iPhone 6. Can’t think of a good reason to upgrade. Had the battery replaced for 29$ I'm right here with you. The battery is still decent so I will hold off replacing the battery on my iPhone 6 till later in the year. In the last 3 years I have yet to see a feature that I need/want therefo...
by EnjoyIt
Wed Jan 17, 2018 6:36 pm
Forum: Investing - Theory, News & General
Topic: [n X expenses + r] instead of [n X expenses]
Replies: 27
Views: 1166

Re: [n X expenses + r] instead of [n X expenses]

I'm all for being a bit conservative and have a safety net but some of y'all are just ridiculous. Hey if working and making money floats your boat and you have nothing better to do in your life then save as much as you can. For the rest of us let's have some reallity on what we really need to retire...
by EnjoyIt
Wed Jan 17, 2018 9:21 am
Forum: Investing - Help with Personal Investments
Topic: Merrill Edge best choice for higher net worth accounts?
Replies: 39
Views: 4735

Re: Merrill Edge best choice for higher net worth accounts?

Their marketing gimmicks have put thousands of dollars in my accounts, including precious Roth space. Can you please explain further? Is it through sign up bonuses? How much extra space has it given you and over how may years? Yes, bonuses. It's at least $3000, but I'd have to go over my records to...